MUGEN ESTATE : Financial Results for Fiscal Year ended December 31,2021

Fiscal Year ended Dec.31, 2021 Financial Results

TSE1:3299 | February 14, 2022

h t t p s : / / w w w . m u g e n - e s t a t e . c o . j p /

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Contents

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Overview of FY2021 Financial Results	3
Initiatives for the fiscal year ending Dec.31 2022	13
FY2022 Earnings Forecast	17
Appendix： Company Profile	21

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FY2021 Highlights

• Net sales fell slightly. Net profit rose significantly.

Consolidated net sales decreased 2.6％ year on year, to 33.9 billion yen. Profit attributable to owners of parent increased increased 113％ year on year, to 1.3 billion yen.

• Sales of residential-type properties were strong.

Net sales of residential-type properties climbed 21.4％ year on year, to 7,051 million yen. Unit sales increased 41 from a year ago, to 189.

• The ratio of sales to overseas investors increased

Net sales to foreign investors rose 20.7％ year on year, to 5,295 million yen, reflecting sales of large properties. Sales to foreign investors as a percentage of sales of investment-type properties stood at 21.5％, recovering to

pre-COVID level.

• Opened 5 sales offices

To strengthen the Purchase and Resale Business, the Group opened five sales offices focusing on the purchase of residential properties.

• Established associations for two small-lot real estate products

Two associations were established for Yoyogi Project and Shibuya Kamiyama-cho Project.

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1	O v e r v i e w o f F Y 2 0 2 1 F i n a n c i a l R e s u l t s

Overview of Consolidated Financial Results for FY2021

• In FY2021, net sales slightly declined and profit rose year on year.
• Profit attributable to owners of parent increased significantly due to the absence of the reversal of deferred tax assets recorded in the previous fiscal year.

million yen
	FY2020	FY2021	YOY		70,000				10,000
							Net sales(million yen)
	Results	Proportion	Results	Proportion	Change	Rate		Ordinary income(million yen)	9,000
	(%)	(%)	（%）	60,000
							53,931				8,000
Net sales	34,858	100.0	33,956	100.0	(902)	(2.6)	50,000				7,000
Gross profit	5,864	16.8	5,788	17.0	(76)	(1.3)	40,000	39,677			6,000
	34,858
									33,956	5,000
SGA	3,398	9.8	3,445	10.1	46	1.4	30,000				4,000
							5,237
Operating	2,465	7.1	2,342	6.9	(123)	(5.0)	20,000				3,000
income
							2,493			2,000
Ordinary income	1,785	5.1	1,770	5.2	(14)	(0.8)	10,000		1,785	1,770
		1,000
Profit attributable	599	1.7	1,276	3.8	677	113.0	0				0
to owners of parent	FY18	FY19	FY20	FY21

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