Megmilk Snow Brand : Summary of Financial Results for First Quarter of FY2022

Consolidated Financial Results for the Three Months Ended June 30, 2021

(Prepared pursuant to Japanese GAAP)

	August 12, 2021
Company name:	MEGMILK SNOW BRAND Co., Ltd.
Stock exchange listing:	Tokyo Stock Exchange (First Section), Sapporo Securities Exchange
Stock code:	2270
URL:	https://www.meg-snow.com/english
Representative:	Keiji Nishio, Representative Director and President
Contact:	Futami Hatamoto, General Manager, Public Relations & Investor
	Relations Department
Phone:	[phone]
	(Amounts rounded down to the nearest million yen)

1. Consolidated Results for the First Three Months of the Fiscal Year Ending March 31, 2022 (April 1, 2021 - June 30, 2021)

(1) Consolidated Operating Results				(Percentages indicate year-on-year changes)
	Net sales		Operating profit	Ordinary profit		Profit attributable to
			owners of parent
Three months ended	millions of yen		%	millions of yen	%	millions of yen	%		millions of yen	%
142,820		－	6,523	29.8	7,242	32.3		4,800	51.1
June 30, 2021
Three months ended	156,298		1.0	5,026	(0.8)	5,474	(7.1)		3,176	(16.9)
June 30, 2020
Note: Comprehensive income: Three months Ended June 30, 2021 : 4,059 million yen (9.1%)
	Three months Ended June 30, 2020 : 3,721 million yen (17.0%)
	Profit		Profit
	per share - basic	per share - diluted
			yen		yen
Three months ended			71.08		－
June 30, 2021
Three months ended			46.93		－
June 30, 2020

Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, March 31,2020), etc. effective from the beginning of the first quarter of the fiscal year ending March 31, 2022. As a result, the Company has omitted year-on-year change in net sales for the first quarter of the previous fiscal year, as this was prior to application of the above accounting standard.

Assuming, however, that the above accounting standard, etc. had been applied effective from the first quarter of the fiscal year ended March 31, 2021, the year-on year change would be 2.1%.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net asset
	per share
June 30, 2021	millions of yen	millions of yen	%	yen
398,798	198,457	49.1	2,899.99
March 31, 2021	398,650	198,255	49.0	2,890.65

For reference:

Equity: June 30, 2021 : 195,842million yen

March 31, 2021 : 195,213 million yen

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2. Dividends

			Cash dividends per share
Record date or period	End-Q1	End-Q2	End-Q3		Year-end	Total
		yen	yen	yen		yen	yen
Year ended	－	－	－		40.00	40.00
March 31,2021
Year ending	－
March 31,2022
Year ending
March 31,2022		－	－		50.00	50.00
(forecast)
Note 1:	Revisions from	the latest release	of dividend forecasts:	None
Note 2:	As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement
	No. 29, March 31, 2020), etc. effective from the beginning of the first quarter of the fiscal year ending
	March 31, 2022, the said accounting standard,etc. have been applied to the figures in the abovementioned
	consolidated forecast figures. Note that year-on-year change is calculated assuming that the above
	accounting standard, etc. were applied effective from the fiscal year ended March 31, 2021.

3. Forecast of Consolidated Results for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages indicate year-on-year changes)

	Net sales		Operating profit		Ordinary profit	Profit attributable to	Profit per
			owners of parent	share
	millions of yen		%	millions of yen	%	millions of yen	%	millions of yen	%	yen
Second quarter-	288,000		1.8	10,800	(2.6)		11,400	(4.8)	6,800	(5.5)	100.69
end(Cumulative)
Full Year	570,000		2.8	20,500	3.6		21,500	(0.8)	12,500	(16.2)	185.10
Note: Revisions	from the latest	release of earnings forecasts: None

Notes

(1) Material reclassifications of subsidiaries during the period: None

(2) Accounting methods specific to quarterly consolidated financial statements: None

(3) Changes in accounting policy, changes in accounting estimates, and retrospective restatement 1) Changes in accordance with amendments to accounting standards, etc.: Yes

2) Changes other than noted in 1) above: None

3) Changes in accounting estimates: None

4) Retrospective restatement: None

(4) Common stock issued

1) Issued shares as of period-end (including treasury stock)

	June 30, 2021	70,751,855 shares
	March 31, 2021	70,751,855 shares
2) Treasury stock as of period-end
	June 30, 2021	3,219,600 shares
	March 31, 2021	3,219,054 shares
3) Average number of shares (during the respective period)
	Three months ended June 30, 2021	67,532,559 shares
	Three months ended June 30, 2020	67,693,013 shares

*This summary of financial statements is not subject to audit by certified public accountant and auditing firm.

*Appropriate Use of Earnings Forecasts and Other Important Information

(Earnings Forecasts)

Business forecasts contained in this report are based on the assumptions of management in the light of information available as of the release of this report. MEGMILK SNOW BRAND makes no assurances as to the actual results, which may differ from forecasts due to various factors such as changes in the business environment.

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