T Gaia : （Delayed） Annual Securities Report The 31st fiscal year (from April 1, 2021 to March 31, 2022)

Annual Securities Report

(Report in accordance with Article 24, paragraph (1) of

the Financial Instruments and Exchange Act)

The 31st fiscal year (from April 1, 2021 to March 31, 2022)

T-Gaia Corporation

E05392

		Table of Contents
Cover page
Part One Company Information.............................................................................................................................................	1
I. Company Overview ..........................................................................................................................................................	1
1.		Key Financial Data, etc............................................................................................................................................	1
2.		History .....................................................................................................................................................................	3
3.		Business Description................................................................................................................................................	5
4.		Overview of Associated Companies ........................................................................................................................	7
5.		Data on Employees ..................................................................................................................................................	8
II. Business Overview...........................................................................................................................................................	9
1.		Management Policies, Business Environment, Issues to Be Addressed, Etc............................................................	9
2.		Risk Factors for Our Business, etc.........................................................................................................................	17
3.		Management's Analysis of Financial Position, Operational Results, and Cash Flows...........................................	20
4.		Operationally Important Contracts, etc. .................................................................................................................	27
5.		Research and Development Activities ...................................................................................................................	27
III. Property, Plant and Equipment ..................................................................................................................................	28
1.		Overview of Capital Investments, etc. ...................................................................................................................	28
2.		Major Property, Plant and Equipment ....................................................................................................................	28
3.		Planned Facility Addition, Retirement, etc. ...........................................................................................................	29
Ⅳ. Information About Reporting Company....................................................................................................................	30
1.		Company's Shares, etc...........................................................................................................................................	30
	(1)	Total number of shares, etc................................................................................................................................	30
	(2)	Share acquisition rights .....................................................................................................................................	30
	(3)	Exercise status of moving strike bonds with share acquisition rights................................................................	30
	(4)	Changes in total number of outstanding shares, share capital, and legal capital surplus ...................................	30
	(5)	Shareholding by shareholder category ..............................................................................................................	31
	(6)	Information about major shareholders...............................................................................................................	31
	(7)	Voting rights......................................................................................................................................................	32
2.		Acquisition and Disposal of Treasury Shares ........................................................................................................	33
	(1)	Acquisition by resolution of shareholders meeting ...........................................................................................	33
	(2)	Acquisition by resolution of Board of Directors meeting..................................................................................	33
	(3)	Acquisition not based on resolution of shareholders meeting or Board of Directors meeting...........................	33
	(4)	Disposal of acquired treasury shares and number of treasury shares held.........................................................	33
3.		Dividend Policy .....................................................................................................................................................	33
4.		Corporate Governance ...........................................................................................................................................	35
	(1)	Overview of corporate governance ...................................................................................................................	35
	(2)	Information about Officers ................................................................................................................................	42
	(3)	Audits................................................................................................................................................................	51
	(4)	Remuneration, etc. for Officers .........................................................................................................................	55
	(5)	Stockholdings....................................................................................................................................................	56
V. Financial Information....................................................................................................................................................	59
1.		Consolidated Financial Statements and Other Information....................................................................................	60
	(1)	Consolidated financial statements .....................................................................................................................	60
	(2)	Other .................................................................................................................................................................	97
VI. Outline of Stock-RelatedAdministration of Reporting Company ...........................................................................	98
VII. Reference Information on Reporting Company.......................................................................................................	99
1.	Information on the Parent Company, etc. of Reporting Company................................................................................	99
2.	Other Reference Information........................................................................................................................................	99
Part Two Information on Guarantee Companies etc. for Reporting Company ..............................................................	100

Audit Report

Cover

Document Filed	Annual Securities Report
Applicable Law	Article 24, Paragraph 1 of the Financial Instruments and Exchange Act
Filed to	Director, Kanto Local Finance Bureau
Filing Date	June 22, 2022
Fiscal Year	The 31st Fiscal Year (From April 1, 2021 to March 31, 2022)
Company Name	株式会社ティーガイア (Kabushiki Kaisha T-Gaia)
Company Name in English	T-Gaia Corporation
Title and Name of Representative	Masato Ishida, President & Chief Executive Officer
Address of Head Office	1-18 Ebisu 4-chome,Shibuya-ku, Tokyo
Telephone Number	[phone]
Contact Person	Hiroyuki Sugai, Director, Executive Vice President, CFO
Nearest Contact Place	1-18 Ebisu 4-chome,Shibuya-ku, Tokyo
Telephone Number	[phone]
Contact Person	Hiroyuki Sugai, Director, Executive Vice President, CFO
Place Where Available for Public Inspection	T-Gaia Corporation, Tokai Regional Headquarters
	(11-11 Nishiki 1-chome,Naka-ku, Nagoya City, Aichi Prefecture)
	T-Gaia Corporation, West Japan Regional Headquarters
	(6-20 Dojima 1-chome,Kita-ku, Osaka City, Osaka Prefecture)
	Tokyo Stock Exchange, Inc.
	(2-1 Nihombashi Kabuto-cho,Chuo-ku, Tokyo)

Part One Company Information

I. Company Overview

1. Key Financial Data, etc.

1. Consolidated financial data, etc.

	Business term	27th	28th	29th		30th	31st
			Year ended	Year ended	Year ended		Year ended	Year ended
	Fiscal year		March 31,	March 31,	March 31,		March 31,	March 31,
			2018	2019	2020		2021	2022
Net sales		(millions of yen)	552,771	526,929	474,150		422,973	476,464
Ordinary profit	(millions of yen)	15,335	20,593	19,194		19,793	15,381
Profit attributable to owners of parent	10,161	13,842	12,628		13,042	10,579
		(millions of yen)
Comprehensive income	(millions of yen)	10,070	13,858	12,555		13,197	10,579
Net assets		(millions of yen)	36,473	46,745	55,102		64,026	70,483
Total assets		(millions of yen)	159,923	178,994	181,378		233,826	241,277
Book value per share	(yen)	653.98	838.54	988.23		1,148.26	1,263.30
Earnings per share	(yen)	182.34	248.40	226.59		234.01	189.74
Diluted earnings per share	(yen)	-	-	-		-	-
Equity ratio		(%)	22.8	26.1	30.4		27.4	29.2
Return on equity	(%)	30.9	33.3	24.8		21.9	15.7
Price-earnings ratio	(times)	16.2	7.4	9.0		8.2	8.6
Cash flows from operating activities	12,470	20,483	30,998		19,338	18,864
		(millions of yen)
Cash flows from investing activities	19,168	(3,479)	(4,642)		(32,711)	(2,484)
		(millions of yen)
Cash flows from financing activities	(16,696)	(8,296)	(8,868)		17,849	(7,931)
		(millions of yen)
Cash and cash equivalents at end of period	16,850	25,482	43,125		47,601	56,162
		(millions of yen)
Number of employees	(persons)	3,570	3,884	4,090		5,088	5,056
[Separately,	average number of temporary	[2,644]	[2,435]	[2,155]		[2,193]	[2,103]
employees]
(Notes) 1.	Information on diluted earnings per share is omitted as there are no dilutive shares.

1. As the "Accounting Standard for Revenue Recognition" (Accounting Standards Board of Japan (ASBJ) Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations have been applied from the beginning of the fiscal year under review, key financial data, etc. for the previous fiscal year are those after retrospectively applying the accounting standard and relevant revised ASBJ regulations.
2. During the fiscal year under review, the Company finalized the provisional accounting treatment for a business combination. As a result, related key financial data, etc. for the previous fiscal year reflect this finalization of the provisional accounting treatment.

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(2) The reporting company's key financial data, etc.

	Business term	27th	28th	29th	30th	31st
			Year ended	Year ended	Year ended	Year ended	Year ended
	Fiscal year	March 31,	March 31,	March 31,	March 31,	March 31,
			2018	2019	2020	2021	2022
Net sales		(millions of yen)	549,900	521,716	469,580	399,307	471,907
Ordinary profit	(millions of yen)	14,595	16,741	16,986	16,928	13,252
Profit		(millions of yen)	9,113	11,280	11,660	11,397	9,590
Share capital	(millions of yen)	3,154	3,154	3,154	3,154	3,154
Total number of outstanding shares	79,074,000	79,074,000	56,074,000	56,074,000	56,074,000
		(shares)
Net assets		(millions of yen)	36,819	44,532	51,898	59,269	64,688
Total assets		(millions of yen)	116,510	129,914	125,478	169,442	170,068
Book value per share	(yen)	660.70	799.09	931.21	1,063.41	1,160.02
Dividend per share	(yen)	55.00	75.00	75.00	75.00	75.00
[Interim dividend per share]	[27.50]	[36.50]	[37.50]	[37.50]	[37.50]
Earnings per share	(yen)	163.54	202.41	209.23	204.49	172.00
Diluted earnings per share	-	-	-	-	-
		(yen)
Equity ratio		(%)	31.6	34.3	41.4	35.0	38.0
Return on equity	(%)	27.0	27.7	24.2	20.5	15.5
Price-earnings ratio	(times)	18.1	9.1	9.8	9.4	9.5
Dividend payout ratio	(%)	33.6	37.1	35.8	36.7	43.6
Number of employees	(persons)	3,393	3,725	3,895	4,181	4,227
[Separately,	average	number of temporary	[2,601]	[2,388]	[2,098]	[2,066]	[2,001]
employees]
Total shareholder return	157.5	102.7	117.7	114.7	104.0
		(%)
[Comparative index: TOPIX]	[113.5]	[105.2]	[92.8]	[129.2]	[128.7]
		(%)
Highest stock price	(yen)	3,115	3,230	2,844	2,338	2,081
Lowest stock price	(yen)	1,836	1,832	1,638	1,761	1,585
(Notes) 1.	Information on diluted earnings per share is omitted as there are no dilutive shares.

1. The highest and lowest stock prices are those on the First Section of the Tokyo Stock Exchange.
2. As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations have been applied from the beginning of the fiscal year under review, key financial data, etc. for the previous fiscal year are those after retrospectively applying the accounting standard and relevant revised ASBJ regulations.
3. During the fiscal year under review, T-Gaia Corporation (the "Company") finalized the provisional accounting treatment for a business combination. As a result, related key financial data, etc. for the previous fiscal year reflect this finalization of the provisional accounting treatment.

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