Financial Results for Q1 FY2022.6

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.

November 10, 2021

Financial Results

for the Three Months Ended September 30, 2021

(Under Japanese GAAP)

Company name:	User Local, Inc.
Listing:	Tokyo Stock Exchange
Securities code:	3984
URL:	https://www.userlocal.jp/
Representative:	Masao Ito, President CEO
Inquiries:	Daisuke Iwamoto, CFO
Telephone:	[phone]

Scheduled date to file quarterly report:	November 10, 2021
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on financial results:	No
Holding of financial results briefing:	No

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

1. Non-consolidated financial results for the first three months of the fiscal year ending June 30, 2022 (from July 1, 2021 to September 30, 2021)

(1) Non-consolidated operating results				(% indicate year-on-year changes.)
	Net sales			Operating profit	Ordinary profit	Profit
Three months ended	Millions of yen		%		Millions of yen	%	Millions of yen	%	Millions of yen	%
September 30,	611		30.9		260		22.3	258	21.8	178	34.9
2021
September 30,	466		24.4		212		24.2	212	24.2	132	24.2
2020
	Basic earnings	Diluted earnings
	per share		per share
Three months ended	Yen	Yen
September 30,	11.26			11.05
2021
September 30,	8.48			8.23
2020

(Note) The Company conducted a 2-for-1 stock split of common stocks as of July 1, 2021. The "Earnings per share" and the "Diluted earnings per share" are calculated assuming that the said stock split was conducted at the beginning of the previous fiscal year.

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(2) Non-consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio
As of	Millions of yen	Millions of yen	%
September	5,335	4,855	91.0
30,2021
June 30, 2021	5,277	4,706	89.2
Reference: Equity
As of September 30, 2021:	¥4,855 million
As of June 30, 2021:	¥4,706 million

2. Cash dividends

Annual dividends per share

First quarter-

Second

Third quarter-

Fiscal

Total

end

quarter-end

end

year-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

－

0.00

－

5.00

5.00

30

June, 2021

Fiscal year ended

－

30

June, 2022

Fiscal year ending

3.00

3.00

30

June, 2022 (Forecast)

(Note) Revisions to dividend forecasts published most recently. : None

The Company conducted a 2-for-1 stock split of common stocks as of July 1, 2021.

The dividends per share for fiscal year ending 30 June, 2021 was the actual amount paid before the said stock split.

3. Earnings Forecast for the Fiscal Year Ending June 30, 2022 (July 1, 2021 to June 30, 2022)

(% indicate changes from the previous fiscal year)

Net Sales		Operating Profit	Ordinary Profit	Profit		Basic
								earnings
								per
								share
Full year million yen	%	million yen	%	million yen	%	million yen	%	yen
2,504	20.0	984	15.2	984	15.7	679	10.4	42.92

(Note) Revisions to dividend forecasts published most recently. : None

• Notes

1. Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial statements: None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of September 30, 2021	15,923,700	shares
As of June 30, 2021	15,885,600	shares

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(ii) Number of treasury shares at the end of the period

As of September 30, 2021	83,629 shares
As of June 30, 2021	83,584 shares

(iii) Average number of shares outstanding during the period

For the three months ended September 30, 2021	15,826,859 shares
For the three months ended September 30, 2020	15,585,298 shares

(Note) The Company conducted a 2-for-1 stock split of common stocks as of July 1, 2021. The "Total number of issued shares at the end of the period", the "Number of treasury shares at the end of the period" and the "Average number of shares outstanding during the period" are calculated assuming that the said stock split was conducted at the beginning of the previous fiscal year.

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  Forward-looking statements are based on information currently available to the Company and certain assumptions deemed reasonable. Results may differ materially from the forecasts due to various factors.

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