Valor : Summary of Financial Results for the first quarter 2021

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 June 30, 2020

[Japanese GAAP]

Company name: VALOR HOLDINGS CO.,LTD.	August 13, 2020
Stock exchange listing: Tokyo,Nagoya
Code number: 9956
URL: https://valorholdings.co.jp/
Representative: Masami Tashiro	President and Representative Director
Contact: Akira Shinohana	Executive Director

Phone: [phone]

Scheduled date of filing quarterly securities report: August 14, 2020

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. Consolidated Financial Results for the Three Months Ended June 30, 2020 (April 01, 2020 to June 30, 2020)

(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
	Operating revenues	Operating profit	Ordinary profit	Profit attributable to
	owners of parent
Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
June 30, 2020	183,002	11.0	9,038	176.0	9,485	164.2	4,644	262.9
June 30, 2019	164,865	19.4	3,275	(17.2)	3,590	(18.8)	1,280	(54.6)

(Note) Comprehensive income:	Three months ended June 30, 2020:
	Three months ended June 30, 2019:

¥	8,597 million	[	571.2%]
¥	1,281 million	[	(56.8) %]

	Basic earnings		Diluted earnings per
	per share		share
Three months ended		Yen	Yen
June 30, 2020		86.50	86.47
June 30, 2019		23.83	-

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio
As of	Million yen		Million yen	%
June 30, 2020	407,088		147,603	33.6
March 31, 2020	383,919		140,645	34.1
(Reference) Equity: As of	June 30, 2020:	¥	136,917 million
As of	March 31, 2020:	¥	130,748 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, 2020			-			24.00				-		28.00	52.00
Fiscal year ending March 31, 2021			-
Fiscal year ending March 31, 2021							24.00				-		28.00	52.00
(Forecast)
(Note) Revision to the forecast for dividends	announced most	recently:	No
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021(April 01, 2020 to March 31, 2021)
								(% indicates changes from the previous corresponding period.)
	Operating revenues	Operating profit		Ordinary profit	Profit attributable	Basic earnings per
		to owners of parent		share
Six months ended	Million yen		%	Million yen		%	Million yen		%	Million yen		%		Yen
345,000	2.5	7,700		3.5		8,400			2.5	3,900		2.7		72.63
September 30, 2020
Full year	690,000	1.8	15,700		1.2		17,200			1.9	7,000		8.1		130.36
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Changes in significant subsidiaries during the three months ended June 30, 2020
(changes in specified subsidiaries resulting in changes in scope of consolidation):		No
(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):

June 30, 2020:	53,987,499	shares
March 31, 2020:	53,987,499	shares
2) Total number of treasury shares at the end of the period:
June 30, 2020:	293,255	shares
March 31, 2020:	293,255	shares

3) Average number of shares during the period:
Three months ended June 30, 2020:	53,694,244	shares
Three months ended June 30, 2019:	53,694,268	shares