Kotobuki Spirits : FY2022(1Q-3Q)Financial results supplementary material

February 3, 2022

FY2022(1Q-3Q) (Third quarter of the fiscal year ending March 31, 2022)

Financial results supplementary material

Kotobuki Spirits Co.,Ltd.

• Consolidated Business Results

FY2022(1Q-3Q)	Segments	Business Results（Compared to FY2021）
			Net sales	Gross profit	Gross profit rate	SG&A expenses	Operating profit
			Million of Yen	Million of Yen	％	Million of Yen	Million of Yen
	FY2022(1Q-3Q)		8,507	5,111	60.1	4,538	573
Sucrey
FY2021(1Q-3Q)		4,969	2,639	53.1	3,534	△ 894
	YoY (Change)		3,538	2,472	7.0	1,004	1,468
	FY2022(1Q-3Q)		7,475	3,945	52.8	3,702	243
KCC
FY2021(1Q-3Q)		5,502	3,156	57.4	3,555	△ 398
	YoY (Change)		1,973	789	△ 4.6	148	641
Kotobukiseika	FY2022(1Q-3Q)		4,713	1,464	31.1	1,403	61
FY2021(1Q-3Q)		4,016	977	24.3	1,375	△ 398
Tajimakotobuki
YoY (Change)		696	487	6.7	28	459
	FY2022(1Q-3Q)		2,223	802	36.1	919	△ 117
Sales subsidiaries
FY2021(1Q-3Q)		1,643	439	26.8	841	△ 401
	YoY (Change)		580	362	9.3	78	284
Kujyukushima	FY2022(1Q-3Q)		2,063	906	43.9	1,201	△ 295
FY2021(1Q-3Q)		1,579	518	32.8	925	△ 408
Group
YoY (Change)		485	388	11.1	276	113
	FY2022(1Q-3Q)		371	265	71.6	257	9
Others
FY2021(1Q-3Q)		372	264	71.0	262	2
	YoY (Change)		△ 1	1	0.6	△ 5	6
	FY2022(1Q-3Q)		25,351	12,493	49.3	12,020	473
Segments Total	FY2021(1Q-3Q)		18,081	7,994	44.2	10,491	△ 2,497
	YoY (Change)		7,271	4,499	5.1	1,529	2,971
	FY2022(1Q-3Q)		△ 2,430	△ 67	-	△ 454	387
(Reconciling items）
FY2021(1Q-3Q)		△ 1,774	△ 48	-	△ 238	190
	YoY (Change)		△ 655	△ 19	-	△ 216	197
	FY2022(1Q-3Q)		22,921	12,426	54.2	11,566	860
Total	FY2021(1Q-3Q)		16,306	7,945	48.7	10,253	△ 2,307
	YoY (Change)		6,615	4,481	5.5	1,313	3,168

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• Consolidated Business Results

FY2022(1Q-3Q)	Segments	Business Results（Compared to FY2020）
			Net sales	Gross profit	Gross profit rate	SG&A expenses	Operating profit
			Million of Yen	Million of Yen	％	Million of Yen	Million of Yen
	FY2022(1Q-3Q)		8,507	5,111	60.1	4,538	573
Sucrey
FY2020(1Q-3Q)		12,752	7,816	61.3	5,830	1,986
	Two years ago (Change)		△ 4,245	△ 2,704	△ 1.2	△ 1,292	△ 1,413
	FY2022(1Q-3Q)		7,475	3,945	52.8	3,702	243
KCC
FY2020(1Q-3Q)		9,444	5,716	60.5	4,597	1,119
	Two years ago (Change)		△ 1,970	△ 1,771	△ 7.7	△ 895	△ 876
Kotobukiseika	FY2022(1Q-3Q)		4,713	1,464	31.1	1,403	61
FY2020(1Q-3Q)		8,956	3,695	41.3	2,247	1,448
Tajimakotobuki
Two years ago (Change)		△ 4,243	△ 2,231	△ 10.2	△ 844	△ 1,387
	FY2022(1Q-3Q)		2,223	802	36.1	919	△ 117
Sales subsidiaries
FY2020(1Q-3Q)		5,073	1,856	36.6	1,288	568
	Two years ago (Change)		△ 2,850	△ 1,055	△ 0.5	△ 369	△ 686
Kujyukushima	FY2022(1Q-3Q)		2,063	906	43.9	1,201	△ 295
FY2020(1Q-3Q)		3,665	1,786	48.7	1,320	466
Group
Two years ago (Change)		△ 1,601	△ 880	△ 4.8	△ 119	△ 761
	FY2022(1Q-3Q)		371	265	71.6	257	9
Others
FY2020(1Q-3Q)		639	416	65.1	528	△ 112
	Two years ago (Change)		△ 268	△ 150	6.5	△ 271	121
	FY2022(1Q-3Q)		25,351	12,493	49.3	12,020	473
Segments Total	FY2020(1Q-3Q)		40,529	21,285	52.5	15,810	5,475
	Two years ago (Change)		△ 15,178	△ 8,792	△ 3.2	△ 3,790	△ 5,001
	FY2022(1Q-3Q)		△ 2,430	△ 67	-	△ 454	387
(Reconciling items）
FY2020(1Q-3Q)		△ 4,854	△ 78	-	△ 795	716
	Two years ago (Change)		2,424	11	-	341	△ 329
	FY2022(1Q-3Q)		22,921	12,426	54.2	11,566	860
Total	FY2020(1Q-3Q)		35,675	21,206	59.4	15,015	6,191
	Two years ago (Change)		△ 12,754	△ 8,780	△ 5.2	△ 3,450	△ 5,330

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• Consolidated Business Results

FY2022(1Q-3Q)	Segments sales
			FY2020	FY2021	FY2022	Two years	Two years	YoY (Change)	YoY (%)
			(1Q-3Q)	(1Q-3Q)	(1Q-3Q)	ago (Change)	ago (%)
	Wholesale		Millions of Yen	Millions of Yen	Millions of Yen	Millions of Yen	％	Millions of Yen	％
		Wholesale	3,819	859	1,369	△ 2,450	△ 64.2	509	59.3
		Wholesale（Overseas）	385	211	304	△ 81	△ 21.1	93	43.9
		Wholesale Total	4,203	1,070	1,672	△ 2,531	△ 60.2	602	56.2
	Retail
Sucrey		Shops	5,611	2,538	4,331	△ 1,279	△ 22.8	1,793	70.7
	Pop Up	2,442	881	1,455	△ 987	△ 40.4	574	65.2
		Mail order	245	347	780	535	218.3	433	125.0
		Retail Total	8,298	3,765	6,566	△ 1,732	△ 20.9	2,801	74.4
	Internal sales	251	133	268	17	6.8	135	102.0
	Total	12,752	4,969	8,507	△ 4,245	△ 33.3	3,538	71.2
	Wholesale
		Wholesale	2,550	425	343	△ 2,208	△ 86.6	△ 82	△ 19.3
		Wholesale（Overseas）	362	537	726	364	100.5	188	35.0
		Wholesale Total	2,912	962	1,069	△ 1,844	△ 63.3	106	11.0
	Retail
KCC		Shops(LeTAO)	3,392	1,146	1,812	△ 1,581	△ 46.6	666	58.1
	Shops(Other Brands)	358	389	657	299	83.5	269	69.1
		Pop Up	994	677	944	△ 50	△ 5.1	266	39.3
		Mail order	1,468	2,184	2,787	1,319	89.9	603	27.6
		Retail Total	6,212	4,397	6,200	△ 13	△ 0.2	1,803	41.0
	Internal sales	320	143	207	△ 113	△ 35.4	63	44.2
	Total	9,444	5,502	7,475	△ 1,970	△ 20.9	1,973	35.9
	Kotobukiseika Agent	3,927	1,917	2,147	△ 1,780	△ 45.3	229	12.0
		Sanin area	1,397	654	697	△ 700	△ 50.1	43	6.5
Kotobukiseika		Kotobuki castle	651	275	286	△ 365	△ 56.0	11	4.1
Tajimakotobuki	Tajimakotobuki Yumura area・EC	205	173	166	△ 39	△ 18.8	△ 7	△ 4.0
	Internal sales	2,776	997	1,417	△ 1,360	△ 49.0	420	42.1
	Total	8,956	4,016	4,713	△ 4,243	△ 47.4	696	17.3
	Tokai area	1,489	534	675	△ 814	△ 54.6	141	26.3
	Kansai area	2,481	720	1,052	△ 1,429	△ 57.6	333	46.3
Sales Subsidiaries	Chuugoku area・Shikoku area・ Kyushu area	1,088	370	475	△ 614	△ 56.4	104	28.2
	Internal sales	15	18	21	6	38.7	2	12.6
	Total	5,073	1,643	2,223	△ 2,850	△ 56.2	580	35.3
	Wholesale	1,006	484	689	△ 317	△ 31.5	205	42.4
Kujyukushima Group	Retail	1,166	612	857	△ 309	△ 26.5	246	40.2
	Internal sales	1,492	483	517	△ 975	△ 65.3	34	7.0
	Total	3,665	1,579	2,063	△ 1,601	△ 43.7	485	30.7
	KSK（Property insurance agency business）	8	7	5	△ 3	△ 35.9	△ 2	△ 27.2
	Junai（Health food business）	27	43	40	13	49.5	△ 3	△ 7.5
Others	Taiwan（Confectionery business）	295	286	325	30	10.2	39	13.6
Honey Sucrey Limited（Confectionery business）	309	36	-	△ 309	-	△ 36	-
	Internal sales	-	-	1	1	-	1	-
	Total	639	372	371	△ 268	△ 41.9	△ 1	△ 0.4

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• Consolidated Business Results

FY2022(1Q-3Q) Quarter Results（Compared to FY2021 and FY2020）

3Q（Oct－Dec）Compared to FY2021

	FY2021	FY2022	YoY	YoY (%)
	amount	amount	(Change)
Net sales	8,402	10,963	2,561	30.5
Cost of sales	3,457	4,377	920	26.6
Gross profit	4,945	6,585	1,641	33.2
（Gross profit rate）	58.9	60.1	1.2
SG&A expenses	3,831	4,307	476	12.4
SG&A expenses
rate	45.6	39.3	△ 6.3
Operating profit	1,114	2,279	1,165	104.6
Non-operating
income	542	421	△ 121
Non-operating
expenses	3	2	△ 0
Ordinary profit	1,653	2,698	1,044	63.2
（Ordinary profit
rate）	19.7	24.6	4.9
Extraordinary
income	1	0	△ 0
Extraordinary
losses	11	31	20
Profit before income taxes	1,643	2,667	1,024	62.3
Income taxes	527	907	380
Net profit	1,116	1,760	644	57.7

（Unit：Million of Yen,％）

1Q-3Q（Apr－Dec）Compared to FY2021

	FY2021	FY2022	YoY	YoY (%)
	amount	amount	(Change)
Net sales	16,306	22,921	6,615	40.6
Cost of sales	8,361	10,495	2,134	25.5
Gross profit	7,945	12,426	4,481	56.4
（Gross profit rate）	48.7	54.2	5.5
SG&A expenses	10,253	11,566	1,313	12.8
SG&A expenses
rate	62.9	50.5	△ 12.4
Operating profit	△ 2,307	860	3,168	-
Non-operating
income	2,014	1,365	△ 648
Non-operating
expenses	9	9	0
Ordinary profit	△ 303	2,217	2,520	-
（Ordinary profit
rate）	-	9.7	-
Extraordinary
income	8	0	△ 7
Extraordinary
losses	17	34	17
Profit before income taxes	△ 312	2,183	2,495	-
Income taxes	△ 138	706	844
Net profit	△ 174	1,477	1,652	-

3Q（Oct－Dec）Compared to FY2020

	FY2020	FY2022	YoY	YoY (%)
	amount	amount	(Change)
Net sales	13,287	10,963	△ 2,325	△ 17.5
Cost of sales	5,342	4,377	△ 964	△ 18.1
Gross profit	7,946	6,585	△ 1,360	△ 17.1
（Gross profit rate）	59.8	60.1	0.3
SG&A expenses	5,274	4,307	△ 967	△ 18.3
SG&A expenses
rate	39.7	39.3	△ 0.4
Operating profit	2,672	2,279	△ 393	△ 14.7
Non-operating
income	28	421	394
Non-operating
expenses	6	2	△ 3
Ordinary profit	2,694	2,698	4	0.1
（Ordinary profit
rate）	20.3	24.6	4.3
Extraordinary
income	0	0	0
Extraordinary
losses	54	31	△ 23
Profit before income taxes	2,640	2,667	27	1.0
Income taxes	938	907	△ 31
Net profit	1,702	1,760	58	3.4

1Q-3Q（Apr－Dec）Compared to FY2020

	FY2020	FY2022	YoY	YoY (%)
	amount	amount	(Change)
Net sales	35,675	22,921	△ 12,754	△ 35.7
Cost of sales	14,469	10,495	△ 3,973	△ 27.5
Gross profit	21,206	12,426	△ 8,780	△ 41.4
（Gross profit rate）	59.4	54.2	△ 5.2
SG&A expenses	15,015	11,566	△ 3,450	△ 23.0
SG&A expenses
rate	42.1	50.5	8.4
Operating profit	6,191	860	△ 5,330	△ 86.1
Non-operating
income	65	1,365	1,300
Non-operating
expenses	14	9	△ 5
Ordinary profit	6,242	2,217	△ 4,025	△ 64.5
（Ordinary profit
rate）	17.5	9.7	△ 7.8
Extraordinary
income	0	0	0
Extraordinary
losses	146	34	△ 113
Profit before income taxes	6,096	2,183	△ 3,913	△ 64.2
Income taxes	2,125	706	△ 1,419
Net profit	3,970	1,477	△ 2,493	△ 62.8

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