Ito En : Consolidated Financial Results for the the First Quarter of fiscal year ending April 30, 2022(Japanese Standards)

ITO EN, LTD.

Consolidated Financial Results

September 1, 2021

ITO EN, LTD. Securities numbers : 2593 (Common Stock)

: 25935 (Class-A Preferred Stock)

(URL https://www.itoen.co.jp)

47-10, Honmachi 3 chome, Shibuya-ku, Tokyo Representative: Daisuke Honjo (President)

For Immediate Release

Under Japanese Standards for the First Quarter of the fiscal year ending April 30, 2022 (Unaudited)

Scheduled filing date of quarterly securities report: September 13, 2021

Scheduled date of commencement of dividend payment: -

Supplementary documents for quarterly results prepared: Yes

Quarterly results presentation held: None

(Figures are rounded down to million yen.)

1. Consolidated Performance for the First Quarter of the Fiscal Year Ending April 30, 2022 (May 1, 2021 - July 31, 2021)

(1) Consolidated Results of Operations - cumulative				(% indicates year on year changes)
	Net sales		Operating income	Ordinary income		Profit attributable to owners
			of parent
	Million yen		Million yen		Million yen			Million yen
7/31/2021	105,775	-	6,312	49.7%	6,461	62.2%		4,464	124.0%
7/31/2020	112,714	-13.5%	4,216	-32.1%	3,984	-32.3%		1,993	-45.5%
Note 1: Comprehensive income 7/31/2021: 4,546 million yen (140.0%)	7/31/2020: 1,894 million yen (-29.6%)
	Earnings per share	Earnings per share (diluted)
	Yen		Yen
7/31/2021	36.82		36.74
7/31/2020	16.44		16.40

Note 2: The above per share information pertains to Common Stock. For per share information for Class-A Preferred Stock, refer to "Reference" below.

Note 3: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter under review, and each figure for the first quarter of the fiscal year ending April 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations. Because this will have a significant impact on net sales, the year on year percentage change in net sales is not shown.

If net sales for the first quarter of the fiscal year ended April 30, 2021 are calculated using the same standards, net sales increased by 8.2%.

(2) Consolidated Financial Position

	Total assets	Net assets		Shareholders' equity ratio
	Million yen	Million yen
7/31/2021		337,902	154,501		45.4%
4/30/2021		333,065	153,057		45.6%
Reference: Shareholders' equity	7/31/2021: 153,290 million yen	4/30/2021: 151,773 million yen

Note: The Company has applied the Accounting Standard for Revenue Recognition, etc. from the beginning of the first quarter under review, and each figure as of July 31, 2021, is the figure after applying the said accounting standard, etc.

2. Dividends

			Dividend per share
	First quarter end	Second quarter end	Third quarter end	Year end	Full year
	Yen	Yen	Yen	Yen	Yen
4/30/2021	-	20.00	-	20.00		40.00
4/30/2022	-
4/30/2022		20.00	-	20.00		40.00
(Forecast)

Note 1: Revision to the most recently disclosed dividend forecast: None

Note 2: The above dividend per share pertains to Common Stock. For dividend per share for Class-A Preferred Stock, refer to "Reference" below.

3. Forecasted Consolidated Results for the Fiscal Year Ending April 30, 2022 (May 1, 2021 - April 30, 2022)

(% indicates year on year changes)

	Net sales		Operating income	Ordinary income	Profit attributable to	Earnings per
		owners of parent	share
	Million yen		Million yen		Million yen		Million yen		Yen
10/31/2021	215,900	-	10,500	21.9%	10,400	25.0%	6,800	48.0%	54.72
4/30/2022	410,000	-	20,000	19.9%	19,800	16.3%	12,800	82.5%	102.84

Note 1: Revision to the most recently forecasted consolidated results: None

Note 2: The above per share information in forecasted consolidated results pertains to Common Stock. For per share information for Class-A Preferred Stock, refer to "Reference" below.

Note 3: Because the Company has applied the Accounting Standard for Revenue Recognition, etc. from the beginning of the first quarter under review, the forecasted consolidated results are based on this accounting standard. Since this will have a significant impact on net sales, the year on year percentage change in net sales is not shown.

If net sales for the fiscal year ended April 30, 2021, are calculated using the same standards, net sales are expected to increase by 5.9% for the second quarter (cumulative) and 5.8% for the full year.

Notes

1. Changes in important subsidiaries during the period
   (Changes in specific subsidiaries accompanied by a change in the scope of consolidation): None
2. Application of special accounting methods in preparation for quarterly consolidated financial statements: Yes
   Note: Application of simplified accounting and specific for preparing the quarterly consolidated financial statements.
3. Changes in accounting policies, changes in accounting estimates, and restatements
4. 1. Changes in accounting policies associated with in accounting standards: Yes
   2. Changes in accounting policies other than i. above: None
   3. Changes in accounting estimates: None
   4. Restatements: None

Note: For further details, please refer to the section of "(3) Notes to Quarterly Consolidated Financial Statements, (Changes in Accounting Policies)" of "2. Quarterly Consolidated Financial Statements and Main Notes" on page 8 of the attached material.

(4) Number of outstanding shares (common stock)
i. Number of outstanding shares (including treasury stock)	7/31/2021	89,212,380 shares	4/30/2021	89,212,380 shares
ii. Number of treasury stock	7/31/2021	1,008,517 shares	4/30/2021	1,012,267 shares
iii. Average number of shares during the period	7/31/2021	88,202,620 shares	7/31/2020	88,188,913 shares

Note:The above "Number of outstanding shares" pertains to Common Stock. For "Number of outstanding shares" for Class-A Preferred Stock, refer to "Reference" below.

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Request for appropriate use of the business outlook and other special remarks

Forward-looking statements in this document, including forecasts, are based on information available to management at the time of the announcement, which management assumes to be reasonable. Therefore, our company does not guarantee the achievement of forecasts and other forward-looking statements. Because of variable factors, actual results may differ from the forecast figures. For the basis of presumption of the forecasted operation results and the notes on its use, refer to "Explanations Regarding Forecasts for Consolidated Results and Future Outlook" on page 3.

Reference

(1) Per share information of Class-A Preferred Stock

	Earnings per share	Earnings per share
	(diluted)
	Yen	Yen
7/31/2021	36.82	36.74
7/31/2020	16.44	16.40

(2) Dividends - Class-A Preferred Stock

			Dividend per share
	First quarter end	Second quarter end	Third quarter end	Year end	Full year
	Yen	Yen	Yen	Yen	Yen
4/30/2021	-	25.00	-	25.00		50.00
4/30/2022	-
4/30/2022		25.00	-	25.00		50.00
(Forecast)
Note: Revision to the most recently disclosed dividend forecast: None

(3) Per share information of Class-A Preferred Stock in forecasted consolidated results

	Earnings per share
	(Consolidated)
	Yen
10/31/2021	59.72
4/30/2022	112.84

Note: Revision to the most recently forecasted consolidated results: None

(4) Number of outstanding shares - Class-A Preferred Stock

i. Number of outstanding shares (including treasury stock)	7/31/2021	34,246,962 shares	4/30/2021	34,246,962 shares
ii. Number of treasury stock	7/31/2021	1,196,740 shares	4/30/2021	1,196,320 shares
iii. Average number of shares during the period	7/31/2021	33,050,442 shares	7/31/2020	33,054,605 shares

Contents of Attachments
1. Qualitative Information Regarding Consolidated Financial Results for This Quarter .................................	2
(1)	Explanations Regarding Consolidated Results of Operations............................................................................................	2
(2)	Explanations Regarding Consolidated Financial Position .................................................................................................	3
(3)	Explanations Regarding Forecasts for Consolidated Results and Future Outlook.............................................................	3
2. Quarterly Consolidated Financial Statements and Main Notes .......................................................................	4
(1)	Quarterly Consolidated Balance Sheet...............................................................................................................................	4
(2)	Quarterly Consolidated Statement of Income and Comprehensive Income.......................................................................	6
	Quarterly Consolidated Statement of Income [First quarter period]..................................................................................	6
	Quarterly Consolidated Statement of Comprehensive Income [First quarter period] ........................................................	7
(3)	Notes to Quarterly Consolidated Financial Statements......................................................................................................	8
	(Note Regarding the Company's Position as a Going Concern) ........................................................................................	8
	(Note Regarding Significant Changes in the Amount of Shareholders' Equity)................................................................	8
	(Application of Special Accounting Methods in Preparation for Quarterly Consolidated Financial Statements) .............	8
	(Changes in Accounting Policies) ......................................................................................................................................	8
	(Segment Information) .......................................................................................................................................................	9

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