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.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2022
(Based on Japanese GAAP )May 13, 2022
Company name:
COPRO-HOLDINGS. Co., Ltd.
Stock exchange listing: Tokyo, Nagoya
Stock code:
7059
URL https://www.copro-h.co.jp/
Representative:
Chief Executive Office
Inquiries:
Managing Director
Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
Holding of financial results meeting:

Kosuke Kiyokawa
Masahiko Saito
June 23, 2022
June 24, 2022
June 24, 2022
Yes
Yes

TEL

+81-52-589-3066(Amounts less than one million yen are rounded down)
1.Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(1) Consolidated operating results
Percentages indicate year-on-year changes
Net salesYear ended March 31, 2022
Year ended March 31, 2021

Operating profit

Millions of yen
15,58914,836%
5.1
13.1

Diluted earnings pershare

Earnings per share

Year ended March 31, 2022
Year ended March 31, 2021

Millions of yen%
1,621 12.8
1,437 (9.7)

Profit attributable toowners of parent

Ordinary profit
Millions of yen
1,619
1,439%
12.5(9.2)

Millions of yen
962
1,009%(4.6)(6.9)

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetss
sales
parent/equityYen

Yen%%%

102.12106.74100.84
104.73

15.0
17.2

18.7
17.4

10.4
9.7

（Note） On April 1, 2021, the Company conducted a two-for-one stock split of common stock. Earnings per share and Diluted earnings per
share have been calculated as if this stock split had taken place at the beginning of the previous fiscal year.
(2)Consolidated financial position
Total assets
As of March 31, 2022
As of March 31, 2021

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

8,841
8,514

6,575
6,272

74.0
73.7

708.16656.54（Note）On April 1, 2021, the Company conducted a two-for-one stock split of common stock. Net assets per share has been calculated as if
this stock split had taken place at the beginning of the previous fiscal year.
(3)Consolidated cash flows
Cash flows fromoperating activities
Year ended March 31, 2022
Year ended March 31, 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

824
988

(1,264)
(83)

(825)
(417)

4,021
5,283

12.Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Total cash
Dividend payout
dividends (Total) ratio (Consolidated)

Total

Yen

Yen

YenYenYear ended March 31, 2021
Year ended March 31, 2022

––

20.00
10.00

–
–

55.00
30.00

75.00
40.00

Yen Millions of yen

Year ending March 31, 2023
(Forecast)

–

10.00

–

30.00

40.00

356
373

Ratio of dividends
to net assets(Consolidated)

%%

35.1
39.2

6.1
5.9

61.5

（Note）On April 1, 2021, the Company conducted a two-for-one stock split of common stock. For the fiscal year ended March 31, 2021, theactual amounts of dividends prior to the stock split are presented.
3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Net sales

Operating profit
Millions of yen

Ordinary profit

Millions of yen%

8,144

10.0

289 (54.3)

17,85414.5

1,024 (36.8)

Six months ending
September 30, 2022
Full year

Profit attributable toowners of parent%

Millions of yen%

Millions of yen

Earnings per share%Yen

290 (54.0)

158 (51.9)

17.02

1,024 (36.8)

604 (37.3)

65.05

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):
New companies: 3 company（Company name） COPRO VIETNAM CO., LTD.
ATMOS CO.,LTD.
VALUE ARK CONSULTING CO.,LTD.

Yes(2) 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:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

10,000,000 shares As of March 31, 2021

10,000,000 shares

Number of treasury shares at the end of the period
As of March 31, 2022

715,126 shares As of March 31, 2021

446,334 shares

Average number of shares during the period
Year ended March 31, 2022

9,429,821 shares Year ended March 31, 2021

9,454,824 shares（Note） On April 1, 2021, the Company conducted a two-for-one stock split of common stock. Total number of issued shares at the endof the period, Number of treasury shares at the end of the period and Average number of shares during the period have been
calculated as if this stock split had taken place at the beginning of the previous fiscal year.

2Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Leased assets
Other
Total intangible assets
Investments and other assets
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Current portion of bonds payable
Lease obligations
Accounts payable - other
Income taxes payable
Accrued consumption taxesProvision for bonuses
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Lease obligations
Retirement benefit liability
Asset retirement obligations
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

As of March 31, 2021

As of March 31, 2022

5,320,538
1,880,186
207,297(435)
7,407,586

4,058,265
2,226,864
463,806(475)
6,748,461

272,80928,27056,235357,315

328,233－
79,041
407,274－
7,776
152,933
160,709780,712－
218,095
998,807

117,660
471,072
588,733
1,106,757
8,514,344

138,735
548,039686,775
2,092,858
8,841,319

70,00014,5601,130,440
158,746449,936
52,661
28,169258,476
2,162,989－
2,786
1,328,319
375,271
237,927
51,64923,300146,285
2,165,539

4,464－
74,487
78,9522,241,942

1,379
24,30674,930100,615
2,266,154

30,0001,230,530
5,012,823(1,279)6,272,073

30,0001,237,532
5,618,539(349,151)
6,536,921

328
328
－

1,943
1,943
36,2996,575,164
8,841,319

6,272,402
8,514,344
3

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
Fiscal year ended
March 31, 2021
14,836,579
10,539,032
4,297,547
2,859,825
1,437,722

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Rental income
Settlement received
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Guarantee commission
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Surrender value of insurance policies
Total extraordinary income
Extraordinary losses
Impairment loss
Loss on retirement of non-current assets
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

4(Thousands of yen)
Fiscal year ended
March 31, 2022
15,589,085
10,744,245
4,844,839
3,223,379
1,621,460

49
1,140
3,762
80
5,033

60
1,140－
179
1,380

841
325
903
750
216
3,037
1,439,718

364
1,571
166
750
217
3,069
1,619,771－
90,676
90,676

1,537
60,433
61,971

87,1504,397－
91,5481,438,846
417,018
12,648429,667
1,009,179
1,009,179

125,289384
17
125,691
1,556,050
583,394
9,703
593,097
962,953
962,953

Consolidated statements of comprehensive income
Fiscal year ended
March 31, 2021
1,009,179

ProfitOther comprehensive income
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent

5(Thousands of yen)
Fiscal year ended
March 31, 2022
962,953

328
328
1,009,507

1,615
1,615
964,568

1,009,507

964,568

Consolidated statements of changes in equity
Fiscal year ended March 31, 2021
(Thousands of yen)
Accumulated
othercomprehensiveincome
Total net assets
ForeignTotal
currency
shareholders’translation
equityadjustment

Shareholders’ equity

Retainedearnings

Share capital Capital surplus

Balance at beginning of period

30,0001,172,858

Treasuryshares4,286,538(1,430)5,487,966

Cumulative effects of changes inaccounting policies–

5,487,966－

Restated balance

30,0001,172,858

4,286,538(1,430)－5,487,966–

5,487,966

Changes during period
Dividends of surplus(282,894)(282,894)(282,894)

Profit attributable to owners ofparent

1,009,179

1,009,1791,009,179

(208)

(208)

(208)

359

58,031

58,031

Purchase of treasury shares
Disposal of treasury shares

57,672

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

328

328

–

57,672726,284150

784,107328

784,435

30,0001,230,530

5,012,823(1,279)6,272,073

328

6,272,402

Fiscal year ended March 31, 2022
(Thousands of yen)
Shareholders’ equity

Share capital

Balance at beginning of period

30,000CapitalsurplusRetainedearnings

1,230,530

5,012,823

Treasuryshares(1,279)Cumulative effects of changes
in accounting policies
Restated balance

Accumulated
othercomprehensi
ve income
ForeignTotal
currency
shareholders’translation
equityadjustment

6,272,073

328

Share
acquisitionrights－－
30,0001,230,530

5,012,823(1,279)6,272,073

Total net
assets6,272,402
－

328

－

6,272,402

Changes during period
Dividends of surplus(357,236)(357,236)(357,236)

Profit attributable to owners ofparent962,953

962,953

962,953(349,942)(349,942)(349,942)

2,070

9,072

9,072

Purchase of treasury shares
Disposal of treasury shares

7,002

Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

1,615

36,29937,914－

7,002

605,716(347,871)

264,847

1,615

36,299302,761

30,0001,237,532

5,618,539(349,151)

6,536,921

1,943

36,2996,575,1646

Consolidated statements of cash flows(Thousands of yen)
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Surrender value of insurance policies
Share-based payment expenses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest income
Interest expenses
Gain on sale of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in other current assets
Increase (decrease) in accounts payable - other
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Repayments of lease obligations
Redemption of bonds
Purchase of treasury shares
Proceeds from exercise of employee share options
Dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

7

1,438,846
93,43987,150－(90,676)－(3)(68,249)
－
(49)
841
－
4,397
(23,774)(7,440)23,10899,390813
1,557,795
46(843)(568,352)
988,646

1,556,050
121,337
125,289
65,323(60,433)
36,299(655)(16,894)
3,434(60)364(1,537)384(133,876)(108,538)
79,450(344,874)
8,815
1,329,87759(366)(504,803)
824,767(130,019)－(97,713)(230,176)
13,627(75,237)－(921,327)

144,547(83,185)(51,022)(1,264,136)－(27,902)(160,000)(208)
53,687(282,635)(417,059)
328
488,729
4,795,089
5,283,819(40,010)(14,288)(70,000)(349,942)
5,940(356,727)(825,027)
1,615(1,262,782)
5,283,819
4,021,037