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.

Consolidated Financial Results for the Year Ended February 28, 2022

[Japanese GAAP]

Company name: Serverworks Co.,Ltd. Stock exchange listing: Tokyo

Code number: 4434

URL:https://www.serverworks.co.jp/ Representative: Ryo Oishi

Contact: Hiroyuki Oshio Phone: 03（5579）8029

Representative Director, President Director

Scheduled date of Annual General Meeting of Shareholders: May 27, 2022 Scheduled date of commencing dividend payments: ー

Scheduled date of filing annual securities report: May 27, 2022

Availability of supplementary briefing material on annual financial results: Yes Schedule of annual financial results briefing session: Yes

April 14, 2022

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

1. Consolidated Financial Results for the Fiscal Year Ended February 28, 2022 (March 01, 2021 to February 28, 2022)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Fiscal year ended February 28, 2022 February 28, 2021

Million yen 10,920 -

% - -

Million yen

638

-

% - -

Million yen

653

-

% - -

Million yen

442

-

% - -

(Note) Comprehensive income:

Fiscal year ended February 28, 2022:

Fiscal year ended February 28, 2021:

¥ ¥

95 million - million

[ [

-%] -%]

Basic earnings per share

Diluted earnings per share

Rate of return on equity

Ordinary profit to total assets ratio

Operating profit to net sales ratio

Fiscal year ended February 28, 2022 February 28, 2021

Yen 57.74 -

Yen 55.82 -

% 4.9

-

% 5.6

-

% 5.8

-

(Reference) Equity in earnings (losses) of affiliated companies:

Fiscal year ended February 28, 2022:

Fiscal year ended February 28, 2021:

¥ ¥

6 million - million

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

Net assets per share

As of

February 28, 2022 February 28, 2021

Million yen 11,673 -

Million yen 9,088 -

% 77.4

-

Yen 1,176.20 -

(Reference) Equity:

As of

February 28, 2022:

¥

9,035 million

As of

February 28, 2021:

¥

- million

(3) Consolidated Cash Flows

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Cash and cash equivalents at the end of period

Fiscal year ended February 28, 2022 February 28, 2021

Million yen

337

-

Million yen

(1,067)

-

Million yen

101

-

Million yen

6,798

-

2. Dividends

Annual dividends

Total dividends

Payout ratio

(consolidated)

Dividends to net assets

(consolidated)

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Fiscal year ended February 28, 2021 February 28, 2022

Yen - -

Yen 0.00 0.00

Yen - -

Yen 0.00 0.00

Yen 0.00 0.00

Million yen - -

% - -

% - -

Fiscal year ending February 28, 2023 (Forecast)

-

0.00

-

0.00

0.00

-

3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 28, 2023 (March 01, 2022 to February 28, 2023)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Basic earnings per share

Full year

Million yen 13,485

% 23.5

Million yen 429

%

(32.8)

Million yen 453

%

(30.5)

Million yen 373

%

(15.6)

Yen 48.74

* Notes:

  • (1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No

    New - (Company name: Exclusion: - (Company name:

  • (2) Changes in accounting policies, changes in accounting estimates and retrospective restatement

  • 1) Changes in accounting policies due to the revision of accounting standards:

  • 2) Changes in accounting policies other than 1) above: No

  • 3) Changes in accounting estimates: No

  • 4) Retrospective restatement: No

(3) Total number of issued shares (common shares)

No

1) Total number of issued shares at the end of the period (including treasury shares):February 28, 2022:

February 28, 2021:

7,681,948 shares 7,588,044 shares

2) Total number of treasury shares at the end of the period:February 28, 2022:

February 28, 2021:

3) Average number of shares during the period:

Fiscal Year ended February 28, 2022: Fiscal Year ended February 28, 2021:

372 shares 340 shares

) )

7,661,424 shares 7,232,317 shares

Consolidated Financial Statements

Consolidated Balance Sheets

(Thousand yen)As of February 28,2022

Assets

Current assets

Cash and deposits 6,798,191

Notes and accounts receivable - trade 1,607,300

Work in process 82,344

Advance payments to suppliers 828,486

Allowance for doubtful accounts Other

Total current assets Non-current assets

Property, plant and equipment

Buildings

Accumulated depreciation

Buildings, net

Tools, furniture and fixtures

Accumulated depreciation

Tools, furniture and fixtures, net Total property, plant and equipment Intangible assets

(1,717)

95,157 9,409,762

86,688

(32,515)

54,173

25,340

(15,719)

9,621

63,794

Trademark right 3,208

Software 94,954

Software in progress 17,044

Other

Total intangible assets Investments and other assets

75 115,283

Investment securities 1,921,333

Shares of subsidiaries and associates 86,643

Other 76,264

Total investments and other assets

Total non-current assets

Total assets

2,084,241 2,263,318 11,673,081

(Thousand yen)As of February 28,2022

Liabilities

Current liabilities

Accounts payable - trade

1,274,414

Advances received 605,406

Provision for bonuses 69,467

Income taxes payable 161,350

Provision for loss on order received 19,814

Other 259,415

Total current liabilities Non-current liabilities

2,389,867

Asset retirement obligations 14,310

Deferred tax liabilities 180,084

Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

194,394 2,584,261

Share capital 3,218,069

Capital surplus 3,208,795

Retained earnings 2,065,262

Treasury shares

Total shareholders' equity Accumulated other comprehensive income

Valuation difference on available-for-sale securities

Total accumulated other comprehensive income

Non-controlling interests

Total net assets

Total liabilities and net assets

(1,994) 8,490,132

544,952

544,952

53,735

9,088,819

11,673,081

Consolidated Statements of Income and Comprehensive Income

Consolidated Statements of Income

(Thousand yen)

For the fiscal year ended February 28,2022

Net sales 10,920,831

Cost of sales 9,174,498

Gross profit

Selling, general and administrative expenses Operating profit

Non-operating income

Dividend income

Share of profit of entities accounted for using equity method

Commission income Other

Total non-operating income Non-operating expenses

1,746,333 1,107,620 638,712

7,772

6,075

39,704

2,713

56,265

Interest expenses 1,909

Loss on investments in investment partnerships 21,447

Foreign exchange losses 14,953

Other 3,152

Total non-operating expenses Ordinary profit

Extraordinary losses

Special executive bonuses Other

Total extraordinary losses

Profit before income taxes Income taxes - current Income taxes - deferred Total income taxes Profit

Loss attributable to non-controlling interests Profit attributable to owners of parent

41,463 653,514

10,000

128

10,128

643,386

226,169

(4,596)

221,572

421,813

(20,539)

442,353

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Serverworks Co. Ltd. published this content on 15 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2022 07:49:01 UTC.