WITZ : Summary of Consolidated Financial Results for the Nine Months Ended May 31, 2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

[Delayed]Summary of Consolidated Financial Results

for the Nine Months Ended May 31, 2022

(Based on Japanese GAAP)

					July 14, 2022
Company name:	WITZ Corporation
Stock exchange listing:	Tokyo
Stock code:	4440	URL https://www.witz-inc.co.jp/
Representative:	President		Hiroyuki Hattori
Inquiries:	Executive Director	Shuji Wakita	TEL [phone]
Scheduled date to file Quarterly Securities Report:	July 14, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: No
Holding of quarterly financial results meeting:	No
				(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the Nine Months ended May 31, 2022 (from September 1, 2021 to May 31, 2022)
(1) Consolidated operating results (cumulative)		Percentages indicate year-on-year changes
		Net sales	Operating profit	Ordinary profit	Profit attributable to
		owners of parent
		Millions of yen	% Millions of yen	% Millions of yen	% Millions of yen	%

Nine months ended May 31, 2022 Nine months ended May 31, 2021

1,752	8.8	209	4.9	230	7.2	141	(5.9)
1,610		199		(10.5)		214		(12.4)		150		(5.8)
(2.3)

						Earnings per share	Diluted earnings per share
								Yen					Yen
	Nine months ended					33.91						33.82
	May 31, 2022
	Nine months ended					36.64						36.04
	May 31, 2021
	(2) Consolidated financial position
						Total assets					Net assets						Equity ratio
							Millions of yen			Millions of yen				%
	As of May 31, 2022								2,859							2,261						78.1
	As of August 31, 2021						2,651							2,123						79.2
2. Cash dividends
												Annual dividends per share
						1st quarter-end		2nd quarter-end	3rd quarter-end		Fiscal year-end	Total
							Yen		Yen				Yen		Yen	Yen
	Year ended August 31, 2021			-	0.00						-		6.00		6.00
	Year ending August 31, 2022			-	0.00						-
	Year ending August 31, 2022																		8.00		8.00
	(Forecast)
3. Forecast of consolidated financial results for the year ending August 31, 2022(from September 1, 2021 to August 31, 2022)
																	Percentages indicate year-on-year changes
		Net sales		Operating profit	Ordinary profit			Profit attributable to	Earnings per share
					owners of parent
		Millions of yen	%	Millions of yen	%		Millions of yen	%		Millions of yen	%			yen
	Full year		2,430		10.5		2.9		300			2.0			207			0.7			49.90
			285

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4. Notes

1. Changes in significant subsidiaries during the Nine months ended May 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
	As of May 31, 2022	4,169,000	shares	As of August 31, 2021	4,160,400	shares
Number of treasury shares at the end of the period
	As of May 31, 2022	126	shares	As of August 31, 2021	126	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended May 31, 2022	4,164,633	shares	Nine months ended May 31, 2021	4,094,401	shares

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Quarterly Consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of August 31, 2021	As of May 31, 2022
Assets
Current assets
Cash and deposits	2,046,548	2,075,437
Notes and accounts receivable - trade	166,559	-
Notes and accounts receivable - trade, and contract assets	-	169,966
Work in process	103,051	84,475
Other	39,989	65,925
Total current assets	2,356,149	2,395,804
Non-current assets
Property, plant and equipment	26,924	42,588
Intangible assets
Goodwill	-	99,402
Other	8,323	21,971
Total intangible assets	8,323	121,373
Investments and other assets
Insurance funds	138,417	149,146
Other	121,464	150,774
Total investments and other assets	259,882	299,920
Total non-current assets	295,131	463,882
Total assets	2,651,280	2,859,687
Liabilities
Current liabilities
Accounts payable - trade	26,578	31,519
Current portion of long-term borrowings	632	19,522
Income taxes payable	55,064	37,024
Provision for bonuses	109,343	62,781
Provision for product warranties	1,190	1,124
Other	98,178	197,168
Total current liabilities	290,986	349,141
Non-current liabilities
Retirement benefit liability	142,828	154,942
Long-term accounts payable - other	91,495	91,495
Other	2,668	2,668
Total non-current liabilities	236,991	249,106
Total liabilities	527,978	598,248
Net assets
Shareholders' equity
Share capital	606,925	611,176
Capital surplus	541,414	545,665
Retained earnings	951,760	1,078,065
Treasury shares	(325)	(325)
Total shareholders' equity	2,099,775	2,234,582
Non-controlling interests	23,526	26,856
Total net assets	2,123,302	2,261,439
Total liabilities and net assets		2,651,280	2,859,687

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Thousands of yen)
		Nine months ended	Nine months ended
		May 31, 2021	May 31, 2022
Net sales	1,610,026	1,752,223
Cost of sales	1,039,778	1,054,522
Gross profit	570,247	697,700
Selling, general and administrative expenses	370,898	488,654
Operating profit	199,348	209,045
Non-operating income
Subsidy income - subsidy for research and development	9,508	13,260
Subsidy income - other	2,290	1,762
Surrender value of insurance policies	2,722	4,147
Commission for insurance office work	780	799
Commission income	114	99
Other	85	1,257
Total non-operating income	15,500	21,327
Non-operating expenses
Interest expenses	12	93
Commission expenses	5	60
Foreign exchange losses	99	0
Total non-operating expenses	117	154
Ordinary profit	214,732	230,218
Extraordinary income
Gain on receipt of donated non-current assets	4,073	539
Total extraordinary income	4,073	539
Extraordinary losses
Loss on valuation of investment securities	-	2,920
Loss on retirement of non-current assets	923	1,264
Total extraordinary losses	923	4,184
Profit before income taxes	217,882	226,572
Income taxes	67,270	81,703
Profit	150,611	144,869
Profit attributable to non-controlling interests	581	3,658
Profit attributable to owners of parent		150,029	141,211

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Consolidated statements of comprehensive income (cumulative)

		(Thousands of yen)
	Nine months ended	Nine months ended
	May 31, 2021	May 31, 2022
Profit	150,611	144,869
Comprehensive income	150,611	144,869
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	150,029	141,211
Comprehensive income attributable to non-controlling	581	3,658
interests

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