GA technologies : Summary of Consolidated Financial Results for the Three Months Ended January 31, 2022(Based on IFRS)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Three Months Ended January 31, 2022 (Based on IFRS)

																			March 17, 2022
Company name:	GA technologies Co., Ltd.			Stock exchange listing:	Tokyo Stock Exchange
Stock code:	3491						URL:			https://www.ga-tech.co.jp/
Representative:	RYO HIGUCHI, President and Chief Executive Officer
Contact person:	SATOSHI MATSUKAWA, Executive Officer and Chief Accounting Officer			TEL：[phone]
Scheduled date to file Quarterly Securities Report:			March 17, 2022
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:			Yes	(for institutional investors and analysts, in Japanese)
											(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended January 31, 2022 (November 1, 2021 to January 31, 2022)
(1) Consolidated operating results(cumulative)				(Percentage figures are the changes from the same period prior year)
																Profit attributable	Total
	Revenue	EBITDA※		Operating profit		Profit before tax		Profit		to owners of	comprehensive
																parent		income
	Million yen	%	Million yen		%	Million yen	%		Million yen		%	Million yen		%	Million yen		%	Million yen		%
Three months ended	17,339	67.9	417	861.9	(669)	-		(780)		-		(561)		-	(561)		-	(524)		-
January 31, 2022
Three months ended	10,329	-	43		-	(722)	-		(821)		-		(587)		-	(587)		-	(585)		-
January 31, 2021

※EBITDA = Business profits + Depreciation (Operating expenses)

	Basic earnings	Diluted earnings
	per share	per sharee
	Yen	Yen
Three months ended January 31, 2022	(15.96)	-
Three months ended January 31, 2021	(19.54)	-

(NOTE) Despite the existence of diluted shares, Diluted earnings per share for the three months ended January 31, 2021 and the three months ended January 31, 2022 are not stated since they are antidilutive.

(2) Consolidated financial position

			Equity attributable to	Ratio of equity
	Total assets	Total equity	attributable to owners
	owners of parent
			of parent to total assets
	Million yen	Million yen	Million yen	%
As of January 31, 2022	48,292	17,154	17,154	35.5
As of October 31, 2021	48,594	17,672	17,672	36.4

2. Cash dividends

				Dividends per share
	1st		2nd	3rd		Fiscal	Total
	quarter-end		quarter-end	quarter-end		year-end
		Yen	Yen	Yen		Yen	Yen
Year ended October 31, 2021		-	0.00	-		0.00	0.00
Year ended October 31, 2022		-
Year ending October 31, 2022 (Forecast)			-	-		-	-

(NOTE) Revision of dividend forecast from recently announced figures: Not applicable Dividend forecast of the fiscal year ending October 31, 2022 is yet to be determined.

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3. Forecast of consolidated financial results for the fiscal year ending October 31, 2022 (November 1, 2021 to October 31, 2022) (Percentage figures are the changes from the same period prior year)

	Revenue		EBITDA※		Operating profit		Profit attributable to	Basic earnings
				owners of parent		per share
	Million yen		%	Million yen		%	Million yen		%	Million yen		%	Yen
Full year	110,000		-	4,000		-	57		-	(700)		-	(19.77)

(NOTE) Revisions to the forecast of financial results from recently announced figures: Not applicable ※EBITDA = Business profits + Depreciation (Operating expenses)

4. Notes

(1)Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation):

1. Changes in accounting policies and changes in accounting estimates Changes in accounting policies required by IFRS:
   Changes in accounting policies due to other reasons: Changes in accounting estimates:

Not applicable

Not applicable Not applicable Not applicable

(3) Number of issued shares (common stock)

Total number of issued shares at the end of the period (including treasury shares):

	As of January 31, 2022	35,161,015 shares	As of October 31, 2021	35,152,375 shares
Total number of treasury shares at the end of the period:
	As of January 31, 2022	682 shares	As of October 31, 2021	682 shares
Average number of shares during the period (cumulative from the beginning of the fiscal year):
	Three months ended January 31, 2022	35,156,880 shares	Three months ended January 31, 2021	30,068,565 shares

.

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Condensed Quarterly Consolidated Financial Statements

Condensed Quarterly Consolidated Statement of Financial Position

						(Million yen)
	IFRS	transition
		date		As of October 31,		As of January 31,
	As of November 1,	2021	2022
		2020
Assets
Current assets
Cash and cash equivalents	6,318	15,275	13,024
Trade and other receivables	180	284	258
Inventories	1,450	2,891	3,912
Other financial assets	92	173	303
Other current assets		375		829		979
Total current assets	8,416	19,453	18,478
Non-current assets
Property, plant and equipment	1,271	1,400	1,369
Investment property	7,676	15,222	14,748
Goodwill	3,762	5,082	5,082
Intangible assets	3,686	3,451	3,485
Right-of-use assets	956	1,773	2,644
Other financial assets	1,621	1,527	1,593
Deferred tax assets	0	647	835
Other non-current assets		41		36		55
Total non-current assets		19,016		29,140		29,814
Total assets		27,433		48,594		48,292

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						(Million yen)
	IFRS	transition
		date		As of October 31,		As of January 31,
	As of November 1,	2021	2022
		2020
Liabilities and equity
Liabilities
Current liabilities
Trade and other payables	1,011	1,531	1,370
Contract liabilities	216	269	267
Bonds and borrowings	2,493	3,497	3,433
Lease liabilities	1,972	3,979	3,924
Other financial liabilities	1,107	1,410	1,252
Income taxes payable	661	1	19
Other current liabilities		329		447		485
Total current liabilities	7,793	11,137	10,753
Non-current liabilities
Bonds and borrowings	4,438	3,043	3,062
Lease liabilities	8,166	15,579	16,183
Provisions	411	432	432
Other financial liabilities	256	461	475
Deferred tax liabilities	394	207	168
Contract liabilities		41		60		63
Total non-current liabilities		13,709		19,783		20,384
Total liabilities		21,502		30,921		31,138
Equity
Share capital	1,182	7,219	7,220
Capital surplus	4,124	10,865	10,870
Retained earnings	434	(419)	(980)
Treasury shares	(0)	(0)	(0)
Other components of equity		190		7		45
Total equity attributable to owners of	5,931	17,672	17,154
parent
Total equity		5,931		17,672		17,154
Total liabilities and equity		27,433		48,594		48,292

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Condensed Quarterly Consolidated Statement of Loss and Condensed Quarterly Consolidated Statement of Comprehensive Income

(Condensed Quarterly Consolidated Statement of Loss)

		(Million yen)
	Three months ended	Three months ended
	January 31, 2021	January 31, 2022
Revenue	10,329	17,339
Cost of sales	8,750	14,877
Gross profit	1,579	2,461
Selling, general and administrative expenses	2,272	3,100
Business loss	(693)	(639)
Other income	7	7
Other expenses	36	37
Operating loss	(722)	(669)
Finance income	0	0
Finance costs	99	111
Loss before tax	(821)	(780)
Income tax expense	(233)	(219)
Loss	(587)	(561)
Loss attributable to
Owners of parent	(587)	(561)
Loss	(587)	(561)
Earnings per share
Basic loss per share	(19.54)	(15.96)
Diluted earnings per share	-	-

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