Serio : (Corrections) Announcement of Partial Corrections to Results of Operations for the Fiscal Year Ended May 31, 2021

	August 23, 2021
Company name:	SERIO HOLDINGS CO., LTD.
Representative:	Hisashi Wakahama, President and CEO
Securities code:	6567 (Tokyo Stock Exchange, Mothers)
Inquiries:	Koji Gotani, Director, General Manager,
	Management Division
	TEL: [phone]

(Corrections) Announcement of Partial Corrections to Results of Operations

for the Fiscal Year Ended May 31, 2021

SERIO Holdings Co., Ltd. has made the following partial corrections to the Results of Operations for the Fiscal Year Ended May 31, 2021, which were announced on July 14, 2021. The corrected figures are shown below. Sections that have been corrected are underlined.

1. Reason for corrections

After the announcement of the Results of Operations for the Fiscal Year Ended May 31, 2021, SERIO Holdings found that some of the items in "Cash flows from operating activities" were included in "Cash flows from investing activities" in the Cash Flows for FY5/2021 section, and has corrected these items. For more information, please refer to the release titled "(Numerical and Other Corrections) Announcement of Partial Corrections to Summary of Consolidated Financial Results for the Fiscal Year Ended May 31, 2021" announced today.

2. Explanation of corrections

Sections that have been corrected are underlined.

Page 8 of Cash Flows for FY5/2021

Before corrections

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After corrections

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Securities code: 6567

July 14, 2021

Results of Operations

for the Fiscal Year Ended May 31, 2021

SERIO HOLDINGS CO., LTD.

Hisashi Wakahama, President and CEO

Contents

1. Corporate Profile
2. Financial Results for FY5/2021
3. Outlook for FY5/2022
4. Shareholder Returns
5. Business Climate
6. Initiatives Other Than Financial Activities Reference Materials

2

Vision and Mission

Vision

A company that creates happiness for families

Mission

		Support for the sound growth and
Support for work-family balance
	development of children

3

Activities Based on the Mission

Support for women for jobs and raising children

Creating job opportunities

Part-time staffing service provides jobs that match each woman's stage of life

Employment assistance

(temporary staffing,

subcontracting, job placements)

Creating an environment

for work

Provision of reliable child care facilities creates time for work

Nursery schools	After-school day care
(Operation of nursery	(Operation of after-school
schools)	day-care facilities)

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FY5/2021 Financial Highlights

・Sales and earnings increased to a record high for 5th consecutive year

Both sales and earnings achieved a record high in all segments. New locations opened contributed to growth of the after-school day care and nursery schools businesses. Expansion of subcontracting operations and new high-volume contracts contributed to growth of the employment assistance business. A big increase in earnings is mainly because of higher sales and lower personnel expenses in the after- school day care business due to the pandemic.

Net sales	¥8,218 million	(+18.3%	YoY)
Gross profit	¥1,631 million	(+27.4%	YoY)
Operating profit	¥337 million	(+147.1%	YoY)
Ordinary profit	¥344 million	(+105.5%	YoY)

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Income Statement for FY5/2021

						(Millions of yen)
	FY5/2021 Plan	FY5/2021			Progress rate vs.	FY5/2020
	% to sales	YoY change	FY5/2021 plan
	*Announced on
	Results	announced on	Results	% to sales
	Apr. 13, 2021
				Apr. 13, 2021
Net sales	8,200	8,218	100.0%	+18.3%	100.2%	6,948	100.0%
Employment assistance	2,588	2,585	31.5%	+16.4%	99.9%	2,220	32.0%
After-school day care	2,548	2,547	31.0%	+15.2%	99.9%	2,211	31.8%
Nursery schools	3,063	3,085	37.5%	+22.6%	100.7%	2,516	36.2%
Cost of sales	6,593	6,587	80.2%	+16.2%	99.9%	5,668	81.6%
Gross profit	1,606	1,631	19.8%	+27.4%	101.5%	1,279	18.4%
Selling, general and	1,287	1,293	15.7%	+13.2%	100.5%	1,143	16.5%
administrative expenses
Operating profit	319	337	4.1%	+147.1%	105.6%	136	2.0%
Ordinary profit	320	344	4.2%	+105.5%	107.6%	167	2.4%
Profit attributable to	208	223	2.7%	+121.3%	107.4%	101	1.5%
owners of parent

In FY5/2020, there was non-operating income of ¥33 million for employment adjustment subsidies and other subsidies associated with furloughs as elementary schools closed because of the pandemic. *Furloughed personnel received their full salaries.

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