Ito En : Consolidated Financial Results for the fiscal year ended April 30, 2021(Japanese Standards)

ITO EN, LTD.

June 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
Consolidated Financial Results	Representative: Daisuke Honjo (President)
For Immediate Release
Under Japanese Standards for the fiscal year ended April 30, 2021 (Unaudited)
Scheduled date of general shareholder's meeting: July 27, 2021	Scheduled date of commencement of dividend payment: July 28, 2021

Scheduled filing date of securities report: July 28, 2021

Supplementary documents for financial results: Yes

Quarterly results presentation (for institutional investors and analysts): Yes

(Figures are rounded down to million yen.)

1. Consolidated Performance for the Fiscal Year Ended April 30, 2021 (May 1, 2020 - April 30, 2021)

(1) Consolidated Results of Operations - cumulative	(% changes as compared with the corresponding period of the previous fiscal year)
	Net sales			Operating income		Ordinary income		Profit attributable to owners
						of parent
	Million yen			Million yen				Million yen			Million yen
4/30/2021	446,281	-7.7%	16,675	-16.4%		17,029	-12.4%		7,011	-10.0%
4/30/2020	483,360	-4.1%	19,940	-12.6%		19,432	-16.3%		7,793	-46.1%
Note: Comprehensive income 4/30/2021: 8,672 million yen (47.1%)		4/30/2020: 5,894 million yen (-59.1%)
	Earnings per share		Earnings per share		Return on Equity		Ordinary income /		Operating income /
			(diluted)			Total assets		Net sales
	Yen			Yen
4/30/2021	55.10			54.97		4.7%			5.5%				3.7%
4/30/2020	61.53			61.38		5.2%			6.5%				4.1%

Reference: Equity in earnings (losses) of affiliated companies 4/30/2021: 114 million yen 4/30/2020: 91 million yen

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

(2) Consolidated Financial Position

	Total assets	Net assets		Shareholders' equity ratio	Net assets per share
	Million yen	Million yen			Yen
4/30/2021	333,065	153,057		45.6%	1,250.37
4/30/2020	290,651	149,695		51.0%	1,221.92
Reference: Equity	4/30/2021: 151,773 million yen	4/30/2020: 148,315 million yen.

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

(3) Consolidated Cash Flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities	at end of period
	Million yen	Million yen	Million Yen	Million yen
4/30/2021	25,351	(7,514)	25,813	107,763
4/30/2020	24,719	(9,217)	(12,905)	63,710

2. Dividends

			Dividend per share				Total	Dividend		Dividend on
	First	Second		Third		Fiscal	Total		dividend	payout ratio		net assets
	quarter end	quarter end		quarter end		year end		paid	(consolidated)		(consolidated)
	Yen	Yen		Yen		Yen	Yen		Million yen
4/30/2020	-	20.00		-		20.00	40.00	3,527	65.0%	3.3%
4/30/2021	-	20.00		-		20.00	40.00	3,527	72.6%	3.2%
4/30/2022	-	20.00		-		20.00	40.00			38.9%
(Forecast)
Note: 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)

(% represent changes from the previous fiscal year for the full year, and from the same period of the previous fiscal year for t he first half of the fiscal year (cumulative)

	Net sales		Operating income	Ordinary income	Profit attributable to	Earnings
		owners of parent	per 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

Notes 1: As the Company will adopt the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. starting from the beginning of the fiscal year ending April 30, 2022, the forecasted consolidated results stated above are the forecasted figures for business performance that have applied the applicable accounting standard, etc. As a result, the rate of increase or decrease from the previous fiscal year is not shown, as net sales will be significantly affected by the application of such accounting standard, etc.

If the fiscal year ended April 30, 2021, is 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. There is no impact to operating income, ordinary income, and profit attributable to owners of parent before and after the adoption of the standard.

1. 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.

Notes

1. Changes in important subsidiaries during the period
   (Changes in specific subsidiaries accompanied by a change in the scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatements
3. 1. Changes in accounting policies associated with in accounting standards: None
   2. Changes in accounting policies other than i. above: None
   3. Changes in accounting estimates: None
   4. Restatements: None
4. Numbers of shares outstanding (common stock)

i. Numbers of shares outstanding (including treasury stock)	4/30/2021	89,212,380 shares	4/30/2020	89,212,380 shares
ii. Numbers of treasury stock	4/30/2021	1,012,267 shares	4/30/2020	1,023,467 shares
iii. Average number of shares during the period	4/30/2021	88,195,444 shares	4/30/2020	88,231,914 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.

(Reference) Summary of Non-Consolidated Financial Results

1. Non-Consolidated Performance for Fiscal Year Ended April 30, 2021 (May 1, 2020 - April 30, 2021)

(1) Non-Consolidated Results of Operation	(% changes as compared with the corresponding period of the previous fiscal year)
	Net sales		Operating income	Ordinary income	Net income
	Million yen		Million yen		Million yen		Million yen
4/30/2021	352,732	-6.6%	15,759	-5.2%	17,565	-3.2%	7,115	-45.9%
4/30/2020	377,787	-4.2%	16,626	4.9%	18,142	-2.5%	13,148	-1.0%
	Earnings per share	Earnings per share
	(diluted)
	Yen		Yen
4/30/2021	55.96		55.83
4/30/2020	105.69		105.44

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

(2) Non-Consolidated Financial Position

	Total assets	Net assets		Equity ratio	Net assets per share
	Million yen	Million yen			Yen
4/30/2021	296,470	150,501		50.7%	1,238.65
4/30/2020	266,436	147,918		55.5%	1,217.27
Reference: Equity	4/30/2021: 150,353 million yen	4/30/2020: 147,751 million yen

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

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

(% represent changes from the previous fiscal year for the full year, and from the same period of the previous fiscal year for t he first half of the fiscal year

									(cumulative)
	Net sales		Operating income	Ordinary income	Net income	Earnings
		per share
	Million yen		Million yen		Million yen		Million yen		Yen
10/31/2021	166,000	-	9,500	13.1%	10,100	7.7%	7,000	3.0%	56.37
4/30/2022	311,000	-	17,000	7.9%	17,600	0.2%	11,400	60.2%	91.30

Notes 1: As the Company will adopt the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. starting from the beginning of the fiscal year ending April 30, 2022, the forecasted non-consolidated results stated above are the forecasted figures for business performance that have applied the applicable accounting standard, etc. As a result, the rate of increase or decrease from the previous fiscal year is not shown, as net sales will be significantly affected by the application of such accounting standard, etc.

If the fiscal year ended April 30, 2021, is calculated using the same standards, net sales are expected to increase by 5.0% for the second quarter (cumulative) and 4.9% for the full year. There is no impact to operating income, ordinary income, and net income before and after the adoption of the standard.

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

• Financial results reports are exempt from audit 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 "1. Overview of the Management Operations' Results, etc., (4) Future Outlook" on page 4 in the Attachments.

Reference

(1) Per Share information of Class-A Preferred Stock in Consolidated Results of Operation

	Earnings per share	Earnings per share	Net assets per share
	(diluted)
	Yen	Yen	Yen
4/30/2021	65.10	64.97	1,255.37
4/30/2020	71.53	71.38	1,226.92

(2) Dividends per Share - Class-A Preferred Stock

			Dividend per share				Total	Dividend		Dividend on
	First quarter	Second		Third quarter		Fiscal year	Total		dividend	payout ratio		net assets
	end	quarter end		end		end		paid	(consolidated)		(consolidated)
	Yen	Yen		Yen		Yen	Yen		Million yen
4/30/2020	-	25.00		-		25.00	50.00	1,652	69.9%	4.1%
4/30/2021	-	25.00		-		25.00	50.00	1,652	76.8%	4.0%
4/30/2022	-	25.00		-		25.00	50.00			44.3%
(Forecast)

(3) Per Share information of Class-A Preferred Stock in Forecasted Consolidated Results

	Earnings per share	Earnings per share (Non-
	(Consolidated)	Consolidated)
	Yen	Yen
10/31/2021	59.72	61.37
4/30/2022	112.84	101.30

(4) Numbers of Outstanding Shares - Class-A Preferred Stock

i. Numbers of outstanding shares (including treasury stock)	4/30/2021	34,246,962 shares	4/30/2020	34,246,962 shares
ii. Numbers of treasury stock	4/30/2021	1,196,320 shares	4/30/2020	1,192,090 shares
iii. Average number of shares during the period	4/30/2021	33,053,124 shares	4/30/2020	33,056,063 shares

(5) Per Share information of Class-A Preferred Stock in Non-Consolidated Results of Operation

	Net income per share	Net income per share	Net assets per share
	(diluted)
	Yen	Yen	Yen
4/30/2021	65.96	65.83	1,243.65
4/30/2020	115.69	115.44	1,222.27

Contents of Attachments
1. Overview of the Management Operations' Results, etc. ..........................................................................	2
(1)	Overview of the Management Operations' Results in the Current Financial Year ...................................................	2
(2)	Overview of the Financial Position in the Current Financial Year ..........................................................................	3
(3)	Overview of the Cash flows in the Current Financial Year.....................................................................................	4
(4)	Future Outlook .....................................................................................................................................................	4
2. Basic Policies Concerning Selection of Accounting Standards ................................................................	5
3. Consolidated Financial Statements and Main Notes................................................................................	6
(1)	Consolidated Balance Sheets.................................................................................................................................	6
(2)	Consolidated Statements of Income and Comprehensive Income ...........................................................................	8
	Consolidated Statements of Income.......................................................................................................................	8
	Consolidated Comprehensive Income....................................................................................................................	9
(3)	Consolidated Statement of Changes in Shareholders' Equity ...............................................................................	10
(4)	Consolidated Statements of Cash Flows ..............................................................................................................	12
(5)	Notes to Consolidated Financial Statements ........................................................................................................	14
	(Note Regarding the Company's Position as a Going Concern)............................................................................	14
	(Basis of Presentation of Consolidated Financial Statements) ..............................................................................	14
	(Change in presentation method).........................................................................................................................	14
	(Notes to Consolidated Statements of Income) ....................................................................................................	15
	(Segment Information, etc.) ................................................................................................................................	17
	(Notes to Per Share Data)....................................................................................................................................	18
	(Notes to Subsequent Events)..............................................................................................................................	18

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