Komeri : Summary of Consolidated Financial Results for the Year Ended March 31, 2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Year Ended March 31, 2022

(Based on Japanese GAAP)

Company name: KOMERI CO., LTD.

Stock exchange listing: Tokyo

Stock code:	8218 URLhttps://www.komeri.bit.or.jp
Representative:	President, CEO and COO Yuichiro Sasage
Inquiries:	Director and Managing Executive Officer Hiroshi Hayakawa

TEL [phone]

April 26, 2022

Scheduled date of ordinary general meeting of shareholders:	June 24, 2022
Scheduled date to file Securities Report:	June 24, 2022
Scheduled date to commence dividend payments:	June 27, 2022
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:	Yes (for institutional investors and analysts)
(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)

(1) Consolidated operating results

Percentages indicate year-on-year changes

Operating revenue	Operating profit	Ordinary profit	Profit attributable to owners of parent
Year ended March 31, 2022 Year ended March 31, 2021	Millions of yen 376,094 385,700	% - 10.7	Millions of yen 27,825 30,326	% - 64.2	Millions of yen 28,248 30,369	% - 63.1	Millions of yen 17,897 20,402	% - 70.9

Earnings per share	Diluted earnings per share	Profit attributable to owners of parent/equity	Ordinary profit/total assets	Operating profit/operating revenue
Year ended March 31, 2022 Year ended March 31, 2021	Yen 360.22 410.25	Yen - -	% 8.6 10.7	% 8.0 8.9	% 7.4 7.9

(2) Consolidated financial position

Total assets	Net assets	Equity ratio	Net assets per share
As of March 31, 2022 As of March 31, 2021	Millions of yen 354,751 348,159	Millions of yen 213,926 200,561	% 60.3 57.6	Yen 4,363.40 4,032.90

(3) Consolidated cash flows

Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
Year ended March 31, 2022 Year ended March 31, 2021	Millions of yen 25,856 36,553	Millions of yen (11,260) (14,232)	Millions of yen (12,476) (14,569)	Millions of yen 19,201 17,082

2. Cash dividends

Annual dividends per share	Total cash dividends (Total)	Dividend payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
Year ended March 31, 2021 Year ended March 31, 2022	Yen - -	Yen 22.00 23.00	Yen - -	Yen 23.00 23.00	Yen 45.00 46.00	Millions of yen 2,243 2,276	% 11.0 12.8	% 1.2 1.1
Year ending March 31, 2023 (Forecast)	-	25.00	-	25.00	50.00	13.5

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

Operating revenue	Operating profit	Ordinary profit	Profit attributable to owners of parent	Earnings per share
Six months ending September 30, 2022 Full year	Millions of yen 203,000 385,000	% 3.1 2.4	Millions of yen 18,300 28,500	% 3.1 2.4	Millions of yen 18,300 28,600	% 2.4 1.2	Millions of yen 12,500 18,100	% 3.9 1.1	Yen 254.96 369.18

4. Notes

• (1) Changes in significant subsidiaries during the year ended March 31, 2022

  No

  (changes in specified subsidiaries resulting in the change in scope of consolidation):

• (2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2022 54,409,168 shares

As of March 31, 2021 54,409,168 shares

As of March 31, 2022 54,409,168 shares

Number of treasury shares at the end of the period

As of March 31, 2022 5,381,744 shares

As of March 31, 2021 4,677,861 shares

As of March 31, 2022 5,381,744 shares

Average number of shares during the period

Year ended March 31, 2022 49,684,524 shares

Year ended March 31, 2021 49,731,747 shares

Year ended March 31, 2022 49,684,524 shares

Consolidated financial statements Consolidated balance sheets

(Millions of yen)
As of March 31, 2021	As of March 31, 2022
Assets Current assets Cash and deposits Notes and accounts receivable - trade Notes and accounts receivable - trade, and contract assets Merchandise and finished goods Raw materials and supplies Prepaid expenses Other Allowance for doubtful accounts	17,303 20,935 - 114,131 259 2,051 4,100 (668)	19,422 - 23,232 115,646 246 1,707 4,621 (784)
Total current assets	158,114	164,092
Non-current assets Property, plant and equipment Buildings and structures Accumulated depreciation	247,537 (130,555)	253,939 (136,400)
Buildings and structures, net	116,981	117,539
Machinery, equipment and vehicles Accumulated depreciation	14,952 (12,392)	14,968 (12,786)
Machinery, equipment and vehicles, net	2,560	2,182
Land Leased assets Accumulated depreciation	35,340 8,034 (4,136)	36,033 8,657 (4,391)
Leased assets, net	3,897	4,265
Construction in progress Other Accumulated depreciation	1,504 13,932 (11,587)	881 14,648 (12,297)
Other, net	2,345	2,350
Total property, plant and equipment	162,629	163,252
Intangible assets Leasehold interests in land Other	5,783 2,835	5,804 3,130
Total intangible assets	8,618	8,934
Investments and other assets Investment securities Long-term prepaid expenses Deferred tax assets Leasehold and guarantee deposits Other Allowance for doubtful accounts	1,909 1,072 7,742 7,268 806 (2)	1,638 1,054 7,232 7,432 1,114 (0)
Total investments and other assets	18,796	18,471
Total non-current assets	190,044	190,658
Total assets	348,159	354,751

(784)

(136,400)

(12,786)

(4,391)

(12,297)

(0)

(Millions of yen)
As of March 31, 2021	As of March 31, 2022
Liabilities Current liabilities Notes and accounts payable - trade Electronically recorded obligations - operating Current portion of long-term borrowings Accounts payable - other Accrued expenses Lease liabilities Income taxes payable Accrued consumption taxes Contract liabilities Provision for bonuses Provision for bonuses for directors (and other officers) Provision for point card certificates Provision for loss on disaster Notes payable - facilities Other	29,687 29,800 12,569 8,852 278 1,436 6,923 2,280 - 1,956 20 814 38 694 4,740	28,703 31,741 13,933 9,837 250 1,529 3,623 1,813 800 1,850 21 139 208 1,273 5,841
Total current liabilities	100,094	101,568
Non-current liabilities Long-term borrowings Lease liabilities Deferred tax liabilities Provision for retirement benefits for directors (and other officers) Provision for share awards for directors (and other officers) Retirement benefit liability Long-term guarantee deposits Asset retirement obligations Other	27,870 2,900 61 124 183 5,768 1,483 7,718 1,391	19,937 3,128 39 120 184 6,039 1,466 7,735 605
Total non-current liabilities	47,502	39,256
Total liabilities	147,597	140,825
Net assets Shareholders' equity Share capital Capital surplus Retained earnings Treasury shares	18,802 25,260 166,934 (11,241)	18,802 25,260 182,463 (13,197)
Total shareholders' equity	199,756	213,327
Accumulated other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Remeasurements of defined benefit plans	461 5 338	347 11 239
Total accumulated other comprehensive income	805	598
Total net assets	200,561	213,926
Total liabilities and net assets	348,159	354,751

(13,197)

Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

(Millions of yen)
Fiscal year ended March 31, 2021	Fiscal year ended March 31, 2022
Net sales Cost of sales	373,253 248,782	362,630 244,234
Gross profit	124,471	118,395
Operating revenue Rent income of real estate and other	12,447	13,463
Operating gross profit	136,918	131,859
Selling, general and administrative expenses Advertising expenses Sales supplies expenses Provision for point card certificates Salaries and allowances Bonuses Welfare expenses Provision for bonuses Provision for bonuses for directors (and other officers) Retirement benefit expenses Supplies expenses Utilities expenses Taxes and dues Enterprise tax Rent expenses Depreciation Store maintenance expenses Other	3,652 610 814 35,651 1,996 6,616 1,956 20 771 2,296 3,732 3,109 1,062 12,981 11,485 2,011 17,821	2,605 642 139 35,790 2,058 6,566 1,850 21 707 1,024 4,055 3,011 1,023 13,238 11,774 2,102 17,422
Total selling, general and administrative expenses	106,591	104,034
Operating profit	30,326	27,825
Non-operating income Interest income Dividend income Subsidy income Other	15 92 51 186	19 119 409 266
Total non-operating income	344	815
Non-operating expenses Interest expenses Foreign exchange losses Expenses of soil pollution measures Other	134 50 53 64	113 221 - 56
Total non-operating expenses	302	391
Ordinary profit	30,369	28,248