Toho : (Delayed)Consolidated Financial Results for the First Quarter of FY2021

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 Three Months Ended April 30, 2021

[Japanese GAAP]

Company name: TOHO Co.,Ltd.	June 11, 2021
Stock exchange listing: Tokyo
Code number: 8142
URL: https://www.to-ho.co.jp
Representative: Hiroyuki Koga	Representative Director & President
Contact: Toshiaki Sato	Executive Director

Phone: [phone]

Scheduled date of filing quarterly securities report: June 14, 2021

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: No

Schedule of quarterly financial results briefing session: No

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

1. Consolidated Financial Results for the Three Months Ended April 30, 2021 (February 01, 2021 to April 30, 2021)

(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
	Net sales		Operating profit	Ordinary profit		Profit attributable to
			owners of parent
Three months ended	Million yen		%	Million yen	%	Million yen		%	Million yen		%
April 30, 2021	45,875		1.1	(306)	-	(118)		-	57		-
April 30, 2020	45,372		(17.7)	(1,243)	-	(1,208)		-	(1,018)		-

(Note) Comprehensive income:	Three months ended April 30, 2021:
	Three months ended April 30, 2020:

¥	540 million	[	-%]
¥	(1,836) million	[	-%]

	Basic earnings	Diluted earnings per
	per share		share
Three months ended	Yen			Yen
April 30, 2021	5.33			-
April 30, 2020	(94.66)			-
(2) Consolidated Financial Position
	Total assets		Net assets	Capital adequacy ratio
As of	Million yen			Million yen	%
April 30, 2021	90,894			19,900	21.2
January 31, 2021	83,162			19,384	22.6
(Reference) Equity: As of	April 30, 2021:	¥	19,311 million
As of	January 31, 2021:	¥	18,794 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 January 31, 2021	-		0.00	-		0.00		0.00
Fiscal year ending January 31, 2022	-
Fiscal year ending January 31, 2022			-	-		-		-
(Forecast)
(Note) Revision to the forecast for dividends	announced most	recently:	No
(Note) For the forecast of dividends per share for the fiscal year January 2022, it remains undetermined at this moment.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2022(February 01, 2021 to January 31, 2022)

(% indicates changes from the previous corresponding period.)

			Net sales		Operating profit		Ordinary profit	Profit attributable	Basic earnings
					to owners of parent	per share
Six months ended July 31,		Million yen		%	Million yen		%	Million yen	%	Million yen	%	Yen
	94,600		7.9	(1,000)		-	(900)	-	(1,100)	-	(102.26)
2021
Full year			200,000		7.4	600		-	700	-	100	-	9.30
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Changes in significant subsidiaries during the three months ended April 30, 2021
(changes in specified subsidiaries resulting in changes in scope of consolidation):	No
New	-	(Company name:									)
Exclusion:	-	(Company name:									)
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:	No

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: No
   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)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

April 30, 2021:	11,012,166	shares
January 31, 2021:	11,012,166	shares
2) Total number of treasury shares at the end of the period:
April 30, 2021:	255,282	shares
January 31, 2021:	255,179	shares

3) Average number of shares during the period:
Three months ended April 30, 2021:	10,756,936	shares
Three months ended April 30, 2020:	10,757,165	shares

* This document is exempt from quarterly review conducted by certified public accountants or an audit corporation.

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

				(Million yen)
			As of January 31,2021	As of April 30,2021
Assets
	Current assets
		Cash and deposits	6,988	10,706
		Notes and accounts receivable - trade	14,643	16,416
		Merchandise and finished goods	10,255	12,283
		Raw materials and supplies	33	28
		Other	3,387	3,697
		Allowance for doubtful accounts	(61)	(66)
		Total current assets	35,246	43,066
	Non-current assets
		Property, plant and equipment
		Buildings and structures, net	9,507	9,486
		Land	15,738	15,716
		Other, net	4,389	4,317
		Total property, plant and equipment	29,635	29,519
		Intangible assets
		Goodwill	6,654	6,670
		Other	897	862
		Total intangible assets	7,551	7,532
		Investments and other assets
		Investment securities	2,028	1,928
		Shares of subsidiaries and associates	434	427
		Leasehold deposits	3,807	3,823
		Retirement benefit asset	3,263	3,308
		Other	1,367	1,455
		Allowance for doubtful accounts	(172)	(167)
		Total investments and other assets	10,728	10,776
		Total non-current assets	47,915	47,828
	Total assets	83,162	90,894

				(Million yen)
			As of January 31,2021	As of April 30,2021
Liabilities
	Current liabilities
		Notes and accounts payable - trade	20,857	25,924
		Short-term borrowings	11,771	12,469
		Income taxes payable	408	150
		Provision for bonuses	418	717
		Other provisions	251	279
		Asset retirement obligations	20	15
		Other	4,153	3,797
		Total current liabilities	37,882	43,354
	Non-current liabilities
		Long-term borrowings	22,159	24,068
		Provisions	4	3
		Retirement benefit liability	431	426
		Asset retirement obligations	848	852
		Other	2,450	2,288
		Total non-current liabilities	25,895	27,640
	Total liabilities	63,777	70,994
Net assets
	Shareholders' equity
		Share capital	5,344	5,344
		Capital surplus	5,089	5,089
		Retained earnings	8,863	8,920
		Treasury shares	(639)	(639)
		Total shareholders' equity	18,657	18,715
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	417	467
		securities
		Deferred gains or losses on hedges	-	10
		Foreign currency translation adjustment	(543)	(118)
		Remeasurements of defined benefit plans	262	237
		Total accumulated other comprehensive income	136	596
	Non-controlling interests	589	588
	Total net assets	19,384	19,900
Total liabilities and net assets	83,162	90,894

Quarterly Consolidated Statements of Income and Comprehensive Income
	Quarterly Consolidated Statements of Income (For the three months)
			(Million yen)
		For the three months	For the three months
		ended April 30,2020	ended April 30,2021
Net sales	45,372	45,875
Cost of sales	36,399	36,846
Gross profit	8,972	9,028
Selling, general and administrative expenses	10,216	9,335
Operating loss	(1,243)	(306)
Non-operating income
	Interest income	1	0
	Dividend income	3	3
	Subsidies for employment adjustment	-	168
	Other financial revenue	9	-
	Other	59	67
	Total non-operating income	74	239
Non-operating expenses
	Interest expenses	25	31
	Share of loss of entities accounted for using equity	6	5
	method
	Other financial expenses	-	2
	Other	7	11
	Total non-operating expenses	39	51
Ordinary loss	(1,208)	(118)
Extraordinary income
	Gain on sales of non-current assets	4	3
	Gain on sales of investment securities	-	42
	Total extraordinary income	4	45
Extraordinary losses
	Loss on retirement of non-current assets	29	13
	Loss related to COVID	21	-
	Other	17	-
	Total extraordinary losses	67	13
Loss before income taxes	(1,272)	(86)
Income taxes	(260)	(163)
Profit (loss)	(1,011)	76
Profit attributable to non-controlling interests	6	19
Profit (loss) attributable to owners of parent	(1,018)	57