Welbe : Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

May 14, 2021

Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Company name:	Welbe, Inc.	[Japanese GAAP]
Listing: Tokyo Stock Exchange, First Section
Stock code:	6556	URL: http://www.welbe.co.jp
Representative:	Makoto Ohta, Representative Director and President
Contact:	Takao Senga, Director, Vice President, Head of Management Division
	Tel: [phone]
Scheduled date of General Meeting of Shareholders:	June 25, 2021
Scheduled date of filing of Annual Securities Report:	June 25, 2021
Scheduled date of dividend payment:	June 28, 2021
Preparation of supplementary materials for financial results:	Yes
Holding of financial results meeting:	Yes (for institutional investors and analysts)

(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 - March 31, 2021)

(1) Consolidated Operating Results				(Percentages represent year-on-year changes)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of Parent
	Million yen		%	Million yen	%	Million yen	%	Million yen	%
Fiscal year ended Mar. 31, 2021	8,176		18.9	2,037	15.9	2,104	19.8	1,523	29.7
Fiscal year ended Mar. 31, 2020	6,878		-	1,758	-	1,756	-	1,174	-

Note: Comprehensive income	Fiscal year ended Mar. 31, 2021: 1,523million yen	( 29.7%)
	Fiscal year ended Mar. 31, 2020: 1,174million yen	(	-%)
	Earnings per share		Diluted earnings	ROE		Ordinary profit	Operating profit to
			per share				on total assets	net sales
	Yen		Yen		%		%	%
Fiscal year ended Mar. 31, 2021	53.94		52.93		37.0		42.1	24.9
Fiscal year ended Mar. 31, 2020	42.35		40.79		39.0		42.7	25.6
Reference: Equity in earnings of	affiliates		Fiscal year ended Mar. 31, 2021:	-million yen
		Fiscal year ended Mar. 31, 2020:	-million yen

Note: Since consolidated financial statements are being produced beginning in the fiscal year ended March 2020, percentage change YoY for the fiscal year ended March 2020 are not listed.

(2) Consolidated Financial position

	Total assets		Net assets	Equity ratio	Net assets per share
As of Mar. 31, 2021	Million yen		Million yen	%	Yen
5,473		4,750	86.8	167.35
As of Mar. 31, 2020	4,511		3,477	77.1	124.98
Reference: Shareholders' equity	As of Mar. 31, 2021:	4,750million yen	As of Mar. 31, 2020:	3,477million yen

(3) Consolidated Cash flows

			Cash flows from	Cash flows from			Cash flows from	Balance of cash and
			operating activities	investing activities		financing activities	cash equivalents
	Fiscal year ended Mar. 31, 2021		Million yen		Million yen					Million yen			Million yen
		1,375			415)						394)		2,601
	Fiscal year ended Mar. 31, 2020		1,167			(483)						(541)		2,036
	2. Dividends						(						(
				Dividends per share							Total		Payout ratio		Dividend on
																equity
			1Q-end	2Q-end	3Q-end	Year-end		Total			dividends		(consolidated)
							(consolidated)
			Yen	Yen		Yen	Yen				Yen			Million yen		%	%
	Fiscal year ended Mar. 31, 2020		-	4.40		-	4.40			8.80		244			20.8	8.1
	Fiscal year ended Mar. 31, 2021		-	4.70		-	11.30		16.00		454			29.7	10.9
	Fiscal year ending Mar. 31, 2022		-	8.00		-	8.10		16.10						25.6
	(forecast)
	Note: Breakdown of dividends for	the fiscal year ended	Mar. 31, 2021:
	Ordinary dividends: 6.30 yen; Commemorative dividends: 5.00 yen

3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages represent year-on-year changes)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of Parent
First half	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
4,416		9.6	1,119	0.8	1,120	0.2	759	4.2	26.77
Full year	9,144		11.8	2,446	20.0	2,446	16.3	1,772	16.3	62.44

* Notes

1. Changes in significant subsidiaries during the period under review
   (changes in specified subsidiaries resulting in changes in scope of consolidation): None
2. Changes in accounting policies and accounting-based estimates, and restatements
3. 1. Changes in accounting policies due to revisions in accounting standards, others: None
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting-based estimates: None
   4. Restatements: None
4. Number of shares issued (common stock)
5. 1. Number of shares issued at the end of the period (including treasury shares)

As of Mar. 31, 2021:	28,383,000 shares	As of Mar. 31, 2020:	27,825,000 shares
2) Number of treasury shares at the end of the period
As of Mar. 31, 2021:	129 shares	As of Mar. 31, 2020:	129 shares
3) Average number of shares during the period
Fiscal year ended Mar. 31, 2021:	28,246,810 shares	Fiscal year ended Mar. 31, 2020:	27,731,021 shares

(Reference) Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 - March 31, 2021)

(1) Non-consolidated Operating Results						(Percentages represent year-on-year changes)
	Net sales			Operating profit	Ordinary profit	Profit
	Million yen		%	Million yen		%	Million yen		%	Million yen		%
Fiscal year ended Mar. 31, 2021	7,796		14.9	2,005		12.2	2,068		15.8	1,503		25.2
Fiscal year ended Mar. 31, 2020	6,784		18.0	1,786		19.5	1,785		21.4	1,200		21.1
	Earnings per share	Diluted earnings
					per share
		Yen			Yen
Fiscal year ended Mar. 31, 2021	53.23			52.24
Fiscal year ended Mar. 31, 2020	43.31			41.71
(2) Non-consolidated Financial position
	Total assets			Net assets		Equity ratio		Net assets per share
As of Mar. 31, 2021	Million yen	Million yen			%			Yen
5,442			4,756			87.4			167.58
As of Mar. 31, 2020	4,472			3,504			78.4			125.94
Reference: Shareholders' equity	As of Mar. 31, 2021:	4,756million yen		As of Mar. 31, 2020:	3,504million yen

• This summary report is not subject to audit by certified public accountants or auditing firms.
• Explanation of appropriate use of earnings forecasts, and other special items Cautionary statement with respect to forecasts
  Forecasts of future performance in these materials are based on assumptions judged to be valid and information available to Welbe's management at the time these materials were prepared, but are not promised by Welbe regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons.
  How to view supplementary materials for financial results
  Welbe plans to hold an information meeting for institutional investors and analysts regarding results of operations on Tuesday, May 18, 2021. Materials distributed at this event will also be disclosed, using the Timely Disclosure network (TDnet), and available on the company's website.

This financial report is solely a translation of the Company's Kessan Tanshin in Japanese, which has been prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers who prefer an English translation.