Prestige International : Consolidated Financial Resultsfor the Nine Months Ended December 31, 2021(Japanese GAAP)（PDF 687KB）

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

January 28, 2022

Consolidated Financial Results

for the Nine Months Ended December 31, 2021

(Japanese GAAP)

Company name:	Prestige International Inc.
Listing:	Tokyo Stock Exchange First Section
Securities code:	4290
URL:	http://www.prestigein.com/
Representative:	Shinichi Tamagami, President and Representative Director
Inquiries:	Tsutomu Yoshizawa, Senior manager
Telephone:	[phone]

Scheduled date to file quarterly securities report:	February 10, 2022
Scheduled date to commence dividend payments:	－
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results briefing:	No

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the Nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021 )

(1) Consolidated operating results (cumulative)				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit		Ordinary profit	Profit attributable to
			owners of parent
Nine months ended	Millions of yen	%	Millions of yen		%	Millions of yen	%	Millions of yen	%
December 31, 2021	34,260	14.0	4,924		27.6	5,163	29.1	3,126	37.8
December 31, 2020	30,049	△ 5.2	3,859		2.1	4,000	△ 1.6	2,269	△ 6.3

(Note) Comprehensive income	For the Nine months ended December 31, 2021:	¥3,628 million	[39.5%]
		For the Nine months ended December 31, 2020:	¥2,600 million	[△ 2.2%]
		Basic earnings		Diluted earnings
		per share		per share
Nine months ended			Yen	Yen
December 31, 2021			24.39	24.27
December 31, 2020			17.72	17.62

(Note) Since Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), etc. have been applied from the Nine months ended December 31, 2021, the above amounts of consolidated financial results reflect the application of the accounting standard.

(2) Consolidated financial position

		Total assets		Net assets	Equity-to-asset ratio
As of		Millions of yen	Millions of yen	％
December 31, 2021		51,657	35,247	64.1
March 31, 2021		46,755	32,888	66.1
Reference:	Equity
	As of December 31, 2021 :	¥33,103 million
	As of March 31, 2021 :	¥30,918 million

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2. Cash dividends

		Annual dividends per share
	First quarter-end	Second quarter-end	Third quarter-end		Fiscal year-end	Total
	Yen	Yen	Yen		Yen	Yen
Fiscal year ended	－	3.50	－		3.50	7.00
March 31, 2021
Fiscal year ended	－	4.00
March 31, 2022
Fiscal year ended			－		4.50	8.50
March 31, 2022
(Forecast)

(Note) Revisions to the forecast of cash dividends most recently announced: Yes

For the revision of the dividend forecast, please refer to "Notice Concerning Revision of Consolidated Earnings Forecast and Dividend Forecast for the Fiscal Year Ending March 31, 2022" that has been announced today (January 28, 2022).

3. Forecast of consolidated financial results for the year ending March 31, 2022

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings
		owners of parent	per share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	yen
Full year	46,000		13.3	6,800	29.9	7,000	28.4	4,000	34.7	31.21

(Note) Revision to the financial results forecast announced most recently: Yes

For the revision of the consolidated earnings forecast, please refer to "Notice Concerning Revision of Consolidated Earnings Forecast and Dividend Forecast for the Fiscal Year Ending March 31, 2022" that has been announced today (January 28, 2022).

Note:
(1)	Changes in significant subsidiaries during the Nine months ended December 31, 2021 :	None
(2)	Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:	None
(3)	Changes in accounting policies, changes in accounting estimates and retrospective restatement
1)	Changes in accounting policies due to the revision of accounting standards:	Yes
2)	Changes in accounting policies due to other reasons:	None
3)	Changes in accounting estimates:	None
4)	Restatement of prior period financial statements:	None

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of December 31, 2021	128,187,200	shares	As of March 31, 2021	128,131,800	shares
Number of treasury shares at the end of the period
As of December 31, 2021	708	shares	As of March 31, 2021	708	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
As of December 31, 2021	128,158,847	shares	As of December 31, 2020	128,047,936	shares

*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.

*Explanation for appropriate use of financial forecasts and other special notes

The forecasts given in this document are based on the current available information in the company and certain reasonable assumptions to the company. And we don't commit to achieve these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.

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Consolidated Financial Statements and Primary Notes

(1) Consolidated Balance Sheet

		(Thousands of yen)
	As of March 31, 2021	As of December 31, 2021
Assets
Current assets
Cash and deposits	16,310,272	17,761,037
Notes and accounts receivable - trade	4,027,637	－
Notes and accounts receivable - trade,	－	4,460,090
and contract assets
Merchandise and finished goods	34,324	53,727
Work in process	109,316	170,675
Raw materials and supplies	70,654	80,378
Other	7,346,609	8,244,810
Allowance for doubtful accounts	△623,651	△798,684
Total current assets	27,275,163	29,972,036
Non-current assets
Property, plant and equipment
Buildings and structures, net	9,777,982	9,530,201
Other, net	1,456,838	2,953,559
Total property, plant and equipment	11,234,820	12,483,761
Intangible assets
Other	1,439,807	1,711,044
Total intangible assets	1,439,807	1,711,044
Investments and other assets
Investment securities	5,947,399	6,644,591
Other	930,865	918,263
Allowance for doubtful accounts	△72,265	△71,716
Total investments and other assets	6,806,000	7,491,138
Total non-current assets	19,480,628	21,685,944
Total assets	46,755,792	51,657,980

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		(Thousands of yen)
	As of March 31, 2021	As of December 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	1,042,946	1,201,605
Short-term borrowings	250,000	1,250,000
Income taxes payable	1,117,442	849,646
Provision for bonuses	742,044	472,136
Reserve for fulfillment of guarantees	102,263	123,781
Asset retirement obligations	1,914	－
Other	8,201,918	10,102,853
Total current liabilities	11,458,529	14,000,023
Non-current liabilities
Long-term borrowings	250,000	125,000
Retirement benefit liability	7,356	6,314
Asset retirement obligations	1,659,018	1,695,831
Other	492,026	582,887
Total non-current liabilities	2,408,400	2,410,032
Total liabilities	13,866,930	16,410,056
Net assets
Shareholders' equity
Share capital	1,502,742	1,519,373
Capital surplus	2,772,011	2,788,642
Retained earnings	25,561,466	27,454,397
Treasury shares	△248	△248
Total shareholders' equity	29,835,971	31,762,165
Accumulated other comprehensive income
Valuation difference on available-for-	507,301	579,921
sale securities
Foreign currency translation adjustment	575,026	761,038
Total accumulated other comprehensive	1,082,327	1,340,959
income
Share acquisition rights	153,375	198,002
Non-controlling interests	1,817,187	1,946,797
Total net assets	32,888,861	35,247,924
Total liabilities and net assets	46,755,792	51,657,980

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1. Consolidated Statement of Income and Comprehensive Income (Consolidated Statement of Income)

		(Thousands of yen)
	Nine months ended	Nine months ended
	December 31, 2020	December 31, 2021
Net sales	30,049,428	34,260,945
Cost of sales	23,322,210	26,084,304
Gross profit	6,727,217	8,176,640
Selling, general and administrative expenses	2,868,210	3,252,575
Operating profit	3,859,006	4,924,065
Non-operating income
Interest income	3,894	2,402
Interest on securities	99,083	119,529
Dividend income	25,631	26,598
Share of profit of entities accounted for	90,923	105,214
using equity method
Other	29,221	29,275
Total non-operating income	248,755	283,020
Non-operating expenses
Interest expenses	1,525	4,380
Foreign exchange losses	56,513	－
Employment of People with Disabilities	18,868	17,550
payment
Consumption Taxes Ajustment	18,113	15,710
Other	11,901	5,775
Total non-operating expenses	106,921	43,416
Ordinary profit	4,000,840	5,163,669
Extraordinary income
Gain on sale of non-current assets	13,801	772
Subsidy income	1,475	2,014
Total extraordinary income	15,276	2,787
Extraordinary losses
Loss on sale of non-current assets	67	89
Loss on retirement of non-current assets	－	31,894
Impairment losses	－	366
Fraudulent billing surcharge	116,723	－
Other	28,379	2,014
Total extraordinary losses	145,171	34,364
Profit before income taxes	3,870,945	5,132,092
Income taxes - current	1,362,979	1,672,027
Income taxes - deferred	△8,069	86,724
Total income taxes	1,354,910	1,758,751
Profit	2,516,035	3,373,340
Profit attributable to non-controlling	246,767	247,033
interests
Profit attributable to owners of parent	2,269,267	3,126,306

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