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    8876   JP3755200007

RELO GROUP, INC.

(8876)
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Relo : Notice of Reclassification of Financial Forecasts and Medium-Term Management Plan Targets Following Voluntary Application of IFRS

08/12/2021 | 02:41am EDT

August 12, 2021

For Immediate Release

Company name:

Relo Group, Inc.

Representative:

Kenichi Nakamura

President & Representative Director

(Code: 8876, First Section of TSE)

Contact:

Yasushi Kadota

Senior Managing Director

(Tel: +81-3-5312-8704)

Notice of Reclassification of Financial Forecasts and Medium-Term Management Plan Targets Following Voluntary Application of International Financial Reporting Standards (IFRS)

Relo Group, Inc. (the Group) hereby announces that a meeting of its Board of Directors held on August 12, 2021 resolved to apply the International Financial Reporting Standards (IFRS) optionally from FY2022/3.

Following the voluntary application of IFRS, the results targets for FY2022/3 announced in the "Financial Results for FY2021/3 [Japanese GAAP] (Consolidated)" dated May 13, 2021 and the results targets announced in the "Notice Concerning the Medium-Term Management Plan "New Third Olympic Plan"" have been reclassified. Details are as follows.

1. FY2022/3 Full-Year Consolidated Earnings Forecast (IFRS) (April 1, 2021 - March 31, 2022)

(Millions

of yen)

Net Income

Basic Net

Operating

Profit before

Attributable to

Revenue

Income per

Profit

Income Taxes

Parent

Share

Shareholders

Full Year Consolidated

165,000

17,000

19,000

11,400

74.75

Earnings Forecast

(Reference)

FY2022/3 Full-year Consolidated Earnings Forecast (Japanese GAAP) (April 1, 2021 - March 31, 2022)

(Millions

of yen)

Net Income

Basic Net

Operating

Income before

Attributable to

Revenue

Income per

Profit

Income Tax

Parent

Share

Shareholders

Full Year Consolidated

350,000

17,000

19,000

11,400

74.45

Earnings Forecast

-1-

2 Results Targets of the Medium-Term Management Plan, the "New Third Olympic Plan" (IFRS)

(Billions of yen)

Targets

Final Fiscal Year

55th

56th

57th

58th

March 2022

March 2023

FY2024/3

FY2025/3

Revenue

165

175

185

200

Profit before

19.0

24.0

29.0

35.5

Income Taxes

(Reference)

Results Targets of the Medium-Term Management Plan, the "New Third Olympic Plan" (Japanese GAAP)

(Billions of yen)

Targets

Final Fiscal Year

55th

56th

57th

58th

March 2022

March 2023

FY2024/3

FY2025/3

Revenue

350

370

390

410

Profit before

19.0

24.0

29.0

35.5

Income Taxes

3. Abstract of the Reclassification of Results Targets and Medium-Term Management Plan Targets

In the Group's Second Start-Up Period, which began in April 2011, we set out to "Act as a solutions provider in the field of corporate fringe benefits, providing client companies with support in their non-core operations in Japan," and "Support the global expansion of Japanese companies so that they can perform to their full potential." Through these activities, we made it our mission to "Support the great transformation of Japan that is about to begin" with vision to "Create an industry of comprehensive lifestyle support services that we provide globally." To achieve these goals, we are working to further strengthen our domestic business to attain the absolute leading share of the domestic market, while at the same time building the foundation to reach markets around the world.

The Group has decided to apply IFRS from the first quarter of FY2022/3, to strengthen its management base for full-scale global expansion and to enhance the international comparability of its financial information. With the application of IFRS, revenue will fluctuate significantly given the impact of IFRS 16 "Lease Accounting". Therefore, we have decided to reclassify the earnings forecast for the FY2022/3 and the earnings target for revenue in the medium-term management plan "New Third Olympic Plan", which will end in FY2025/3.

Please refer to the Summary of Financial Statements and Supplementary Materials for the details of the impact of the application of IFRS.

-2-

Disclaimer

Relo Group Inc. published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 06:40:05 UTC.


© Publicnow 2021
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Sales 2022 167 B 1 460 M 1 460 M
Net income 2022 11 787 M 103 M 103 M
Net Debt 2022 48 307 M 423 M 423 M
P/E ratio 2022 30,8x
Yield 2022 0,96%
Capitalization 359 B 3 139 M 3 140 M
EV / Sales 2022 2,44x
EV / Sales 2023 2,04x
Nbr of Employees 4 208
Free-Float 70,9%
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Number of Analysts 6
Last Close Price 2 367,00 JPY
Average target price 3 116,67 JPY
Spread / Average Target 31,7%
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Managers and Directors
Kenichi Nakamura President & Representative Director
Masanori Sasada Chairman
Takeshi Kawano Director & Chief Information Officer
Takashi Onogi Independent Outside Director
Kazuya Udagawa Independent Outside Director