ITO EN, LTD.

June 1, 2021

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

: 25935 (Class-A Preferred Stock)

(URL https://www.itoen-global.com)

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

Notice of Difference between Forecast and Actual Consolidated Financial

Results for the Fiscal Year Ended April 30, 2021

ITO EN, LTD. (hereinafter the "Company") hereby announces that there is a difference between forecast and actual consolidated financial results for the fiscal year ended April 30, 2021, announced on December 1, 2020.

Details are as follows:

1. Difference between forecast and actual consolidated financial results for the fiscal year ended April 30, 2021. (From May 1, 2020, through April 30, 2021)

(Unit: million yen)

Operating

Ordinary

Profit

Earnings per share

Net sales

attributable to

(yen)

income

income

owners of parent

(Common Stock)

Previous forecasts (A)

450,000

12,300

12,100

5,800

45.09

Actual (B)

446,281

16,675

17,029

7,011

55.10

Difference (B-A)

- 3,719

4,375

4,929

1,211

Change (%)

- 0.8

35.6

40.7

20.9

(Reference) Previous year

483,360

19,940

19,432

7,793

61.53

(ended April 30, 2020)

* Differences in earnings per share of Class-A Preferred Stock

Previous forecasts

55.09 yen

Actual

65.10 yen

(Reference) Previous year (ended April 30, 2020)

71.53 yen

2. Reasons for Difference

As of December 1, 2020, when the consolidated financial results forecast for the fiscal year ended April 30, 2021 was announced, the impact of COVID-19 had not yet been resolved, and the timing of its resolution was uncertain, so we assumed that the impact would continue until the end of the consolidated fiscal year.

Although the timing of the convergence of COVID-19 is still uncertain and unpredictable, the Group's efforts to improve operations and reduce overall costs in order to mitigate the impact on its business activities resulted in operating income, ordinary income, and net income attributable to shareholders of the parent company exceeding projections by approximately 4.3 billion yen, 4.9 billion yen, and 1.2 billion yen, respectively.

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ITO EN Ltd. published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 06:03:03 UTC.