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 Six Months Ended September 30, 2021
(Based on Japanese GAAP)
November 11, 2021
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
Kosuke Kiyokawa
Inquiries:
Managing DirectorMasahiko Saito
TEL +81-52-589-3066
Scheduled date to file Quarterly Securities Report:
November 11, 2021
Scheduled date to commence dividend payments:
December 9, 2021
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting:Yes(for analysts and institutional investors)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the Six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)(1) Consolidated operating results (cumulative)Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2021
7,402
1.8
632 19.0
630 18.1
328 (18.9)
Six months ended September 30, 2020
7,271
17.8
531 (20.7)
534 (20.0)
404 (7.3)

Earnings per share

Diluted earnings per share

Yen
Yen
Six months ended September 30, 2021
34.38
33.95
Six months ended September 30, 2020
42.92
42.06
（Note）On April 1, 2021, the Company conducted a two-for-one stock split of common stock. Earnings per share and Diluted earnings pershare 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 September 30, 2021
As of March 31, 2021

Net assets

Millions of yen
8,439
8,514

Equity ratio

Millions of yen
6,245
6,272

%
73.8
73.7

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00
10.00

Yen–

Yen
55.00

Total
Yen
75.00

Year ending March 31, 2022 (Forecast)
–
30.00
40.00
（Note）1.Revisions to the dividend forecasts announced most recently: No
2.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. dividends for the year ended March 31, 2022 (forecast) are stated inconsideration of the impact of the stock split.

13. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
16,943
14.2
1,655
15.1
1,657
15.1
1,077
6.7
112.76（Note）1.Revisions to the earnings forecasts announced most recently: No2.Regarding the revision to the consolidated earnings forecast, please refer to the press release “Notice of Revisions to Earnings
Forecasts” disclosed on August 11, 2021
4. Notes(1) Changes in significant subsidiaries during the Six months ended September 30, 2021
(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.
(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes

No

(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:
Changes in accounting estimates:

NoNo

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 September 30, 2021

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 September 30, 2021

532,426 shares As of March 31, 2021

446,334 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended September 30, 2021

9,550,965 shares Three months ended September 30, 2020

9,430,494 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Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Electronically recorded monetary claims operating
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 taxes
Provision 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’ equityAccumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets
3

As of March 31, 2021

As of September 30, 2021

5,320,538
1,880,186

3,694,974
2,069,818－

30,278207,297(435)
7,407,586

298,740(1,144)
6,092,666

272,80928,27056,235357,315412,730－
115,977
528,707－
7,776
152,933
160,709885,344368
184,273
1,069,985

117,660
471,072
588,733
1,106,757
8,514,344153,217
595,311748,528
2,347,221
8,439,888

70,00014,5601,130,440
158,746449,936
52,661
28,169258,476
2,162,989－
5,230
1,316,775
236,992
205,646
73,7997,844
220,517
2,066,806

4,464－
74,487
78,9522,241,942

2,713
21,747
102,649
127,109
2,193,916

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

30,0001,236,748
5,078,640(120,547)
6,224,841

328
328
－
6,272,402
8,514,344

583
583
20,547
6,245,972
8,439,888

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)
Six months ended
September 30, 2020
7,271,258
5,255,775
2,015,482
1,483,725
531,757

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Rental income
Settlement received
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Guarantee commission
Depreciation
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales 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)Six months ended
September 30, 2021
7,402,022
5,168,273
2,233,748
1,601,213
632,535

22
570
3,762
55
4,411

28570
－
326
925

483
－
547
375
433
1,838
534,329270
1,555
166375
1082,476
630,983－
90,676
90,676

1,521
－

－
4,394
－
4,394
620,611
157,660
58,224
215,885404,725
404,725

50,4340
1750,452582,052
241,157
12,517
253,674
328,378
328,378

1,521

OtherConsolidated statements of comprehensive income (cumulative)
Six months ended
September 30, 2020
404,725

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)Six months ended
September 30, 2021
328,378

208
208
404,933

255
255
328,633

404,933

328,633

Consolidated statements of cash flows
Six months ended
September 30, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Surrender value of insurance policies
Share-based remuneration 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 sales 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
Purchase of intangible assets
Purchase of shares of subsidiaries resulting in change
in scope 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

6620,611
45,158(Thousands of yen)Six months ended
September 30, 2021－－

582,052
61,06550,434
9,334(90,676)－－

20,547113(65,101)

4,394
665
21,241
76,181(89,206)(371)
523,35822(482)(335,685)
187,212

5,255
875
(28)
270
(1,521)
0(6,553)(64,899)
65,470(342,333)
1,498
381,48328(271)(178,656)
202,584(119,233)(39,193)(222,006)(68,872)－(937,327)

172,398
13,971(137,718)(1,365,925)－(13,629)(80,000)(208)
755(188,388)(281,471)(3,999)(10,510)(70,000)(119,287)
3,105(262,172)(462,865)

208

255

(80,078)
4,795,089
4,715,011(1,625,951)
5,283,819
3,657,868－(22)483－