[Summary]Non-consolidated Financial Results for the Six Months Ended September 30, 2021 [Japanese GAAP]

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Non-consolidated Financial Results

for the Six Months Ended September 30, 2021

[Japanese GAAP]

Company name: QD Laser, Inc.	November 12, 2021
Stock exchange listing: Tokyo
Code number: 6613
URL: https://www.qdlaser.com/
Representative: Mitsuru Sugawara	President and Chief Executive Officer
Contact: Shinji Konoya	Chief Financial Officer

Phone: [phone]

Scheduled date of filing quarterly securities report: November 12, 2021

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: No

(Amounts of less than one million yen are rounded down)

1. Non-consolidated Financial Results for the Six Months Ended September 30, 2021 (April 01, 2021 to September 30, 2021)

(1) Non-consolidated Operating Results						(% indicates changes from the previous corresponding period.)
	Net sales			Operating profit	Ordinary profit			Net income
Six months ended	Million yen			%		Million yen		%	Million yen			%		Million yen		%
September 30, 2021	547			61.1			(276)		-		(276)			-			(260)		-
September 30, 2020	339			-			(392)		-		(419)			-			(581)		-
	Basic earnings		Diluted earnings per
	per share				share
Six months ended				Yen						Yen
September 30, 2021				(7.52)						-
September 30, 2020				(23.14)						-
(2) Non-consolidated Financial Position
	Total assets			Net assets	Capital adequacy ratio
As of		Million yen				Million yen					%
September 30, 2021				4,271					3,637						85.2
March 31, 2021				4,675					3,808						81.5
(Reference) Equity: As of	September 30, 2021:		¥		3,637 million
As of	March 31, 2021:				¥		3,808 million
2. Dividends
									Annual dividends
				1st		2nd		3rd		Year-end		Total
				quarter-end	quarter-end		quarter-end
					Yen			Yen			Yen				Yen				Yen
Fiscal year ended March 31, 2021				-			0.00		-				0.00				0.00
Fiscal year ending March 31, 2022				-			0.00
Fiscal year ending March 31, 2022									-				0.00				0.00
(Forecast)
(Note) Revision to the forecast for dividends	announced most	recently:	No

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3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit		Ordinary profit		Net income			Basic earnings
						per share
	Million yen		%	Million yen		%	Million yen		%	Million yen		%		Yen
Full year	1,260		40.8	(533)		-	(505)		-	(508)		-		(14.71)
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Accounting policies adopted specially for the preparation of quarterly Non-consolidated financial statements:		Yes

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: Yes
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

September 30, 2021:	34,830,380	shares
March 31, 2021:	34,584,180	shares
2) Total number of treasury shares at the end of the period:
September 30, 2021:	80	shares
March 31, 2021:	80	shares

3) Average number of shares during the period:
Six months ended September 30, 2021:	34,658,000	shares
Six months ended September 30, 2020:	25,132,380	shares

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Quarterly Non-consolidated Financial Statements

Quarterly Non-consolidated Balance Sheets

				(Thousand yen)
			As of March 31,2021	As of September 30,2021
Assets
	Current assets
		Cash and deposits	3,224,311	2,790,535
		Accounts receivable - trade	225,970	230,306
		Merchandise and finished goods	261,265	332,365
		Work in process	161,047	162,508
		Raw materials and supplies	382,802	397,039
		Accounts receivable - other	82,688	42,168
		Prepaid expenses	11,627	12,506
		Other	97	2,068
		Total current assets	4,349,812	3,969,498
	Non-current assets
		Property, plant and equipment
		Facilities attached to buildings, net	192,569	184,142
		Machinery and equipment, net	60,076	48,969
		Tools, furniture and fixtures, net	5,433	4,306
		Leased assets, net	4,221	3,194
		Construction in progress	26,400	26,400
		Total property, plant and equipment	288,701	267,012
		Intangible assets
		Software	5,268	4,257
		Leased assets	2,964	2,305
		Trademark right	2,573	2,370
		Total intangible assets	10,806	8,933
		Investments and other assets
		Shares of subsidiaries and associates	3,372	3,372
		Guarantee deposits	22,415	22,415
		Other	40	40
		Total investments and other assets	25,827	25,827
		Total non-current assets	325,335	301,774
	Total assets	4,675,147	4,271,272

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			(Thousand yen)
		As of March 31,2021	As of September 30,2021
Liabilities
	Current liabilities
	Accounts payable - trade	218,308	211,282
	Current portion of long-term borrowings	257,964	216,384
	Lease obligations	3,744	3,805
	Accounts payable - other	133,381	39,563
	Accrued expenses	4,898	7,088
	Income taxes payable	4,415	20,635
	Provision for bonuses	51,238	48,347
	Deposits received	3,245	3,286
	Asset retirement obligations	-	7,551
	Other	13,559	18,356
	Total current liabilities	690,754	576,300
	Non-current liabilities
	Long-term borrowings	107,392	19,990
	Lease obligations	4,355	2,437
	Asset retirement obligations	59,338	30,384
	Deferred tax liabilities	4,675	4,500
	Total non-current liabilities	175,762	57,312
	Total liabilities	866,517	633,613
Net assets
	Shareholders' equity
	Share capital	2,242,753	2,287,638
	Capital surplus	4,726,525	4,771,410
	Retained earnings	(3,160,522)	(3,421,263)
	Treasury shares	(126)	(126)
	Total shareholders' equity	3,808,629	3,637,659
	Total net assets	3,808,629	3,637,659
Total liabilities and net assets	4,675,147	4,271,272

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Quarterly Non-consolidated Statements of Income

Quarterly Non-consolidated Statements of Income (For the six months)

		(Thousand yen)
	For the six months	For the six months
	ended September 30,2020	ended September 30,2021
Net sales	339,894	547,408
Cost of sales	246,972	389,608
Gross profit	92,921	157,800
Selling, general and administrative expenses	485,255	434,495
Operating loss	(392,334)	(276,695)
Non-operating income
Interest income	239	22
Foreign exchange gains	-	4,402
Gain on sale of scraps	325	-
Other	274	166
Total non-operating income	839	4,592
Non-operating expenses
Interest expenses	2,834	1,512
Foreign exchange losses	19,110	-
Financing expenses	2,800	1,500
Rental expenses	1,305	1,087
Other	2,328	473
Total non-operating expenses	28,378	4,573
Ordinary loss	(419,872)	(276,677)
Extraordinary income
Gain on reversal of asset retirement obligations	-	21,449
Total extraordinary income	-	21,449
Extraordinary losses
Impairment losses	161,282	3,582
Total extraordinary losses	161,282	3,582
Loss before income taxes	(581,155)	(258,810)
Income taxes - current	1,555	2,105
Income taxes - deferred	(1,002)	(174)
Total income taxes	552	1,930
Loss	(581,707)	(260,740)

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