Translation
Notice: This document has been translated from the Japanese original for reference purposes. In the event of any discrepancy
between this translated document and the Japanese original, the latter shall prevail.

Summary of Consolidated Financial Result
for the Nine Months Ended September 30, 2023
(Based on Japanese GAAP)
November 14, 2023
Company name: WILLs Inc.

Listing exchange: Tokyo Stock Exchange

Securities code: 4482

URL: https://www.wills-net.co.jp/

Representative: Mitsuo Sugimoto, President and CEOInquiries:

Yasuyuki Hasumoto, Senior Managing Director and CFO

Scheduled date for third quarter report:

Phone: +81-3-6435-8151

November 14, 2023

Scheduled date for commencing dividend payments:－Preparation of supplementary materials on financial results:

Yes

Holding of financial results briefing session:

No(Amounts are rounded down to the nearest million yen, unless otherwise noted)
1. Consolidated Financial Results for the nine months ended September 30,2023 (from January 1, 2023 to September 30, 2023)(1) Consolidated Operating Results (Cumulative)(Percentage figures represent year-on-year changes)
Net sales

Operating profit

millions of yen%millions of yen

3,348

16.2

764

25.8

762

27.1

522

35.8

2,882

12.1

607

30.0

600

29.1

384

20.8

Nine months ended
September 30, 2023
September 30, 2022

% millions of yen(Note) Comprehensive income: Nine months ended September 30, 2023: 522 million yen
Nine months ended September 30, 2022: 384 million yen
Basic earnings pershare
Yen

Diluted earnings
per share
Yen

25.11

－

19.39

18.43

Nine months ended
September 30, 2023
September 30, 2022
(2)

Profit attributable toowners of parent

Ordinary profit% millions of yen

35.8%
20.8%

Consolidated Financial Position
Total assets

As ofSeptember 30,2023
December 31, 2022
Reference: Total shareholders’ equity

Net assets

Equity ratio

millions of yen

millions of yen%

3,597

1,866

51.9

3,261

1,662

51.0

As of September 30, 2023:
As of December 31, 2022:- 1 -1,866 million yen
1,662 million yen%

2. Cash Dividends
Annual dividends per share
2nd quarter3rd quarter
4th quarter
TotalYen
Yen
Yen
Yen
Fiscal year ended December 31, 2022
0.00
－7.007.00
Fiscal year ended December 31, 2023
3.50
－
6.00
9.50
Fiscal year ending December 2023
Dividend 4.00
Dividend 7.50
(forecast)Commemorative Commemorative
dividend 2.00
dividend 2.00
(Note) Revisions to the forecast of dividends most recently announced: Yes
1st quarterYen－－

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2023
(from January 1, 2023 to December 31, 2023)(Percentage figures represent year-on-year changes)
Net sales

Operating profit

millions of yen% millions of yen
Fiscal year ending
4,049
6.1
750
December 2023
(Note) Revisions to the forecast most recently announced: None

Profit attributable toowners of parent

Ordinary profit%

millions of yen

6.8745% millions of yen
7.5497

Profit pershare%

Yen

19.2

23.83

*Explanatory notes(1) Changes in significant subsidiaries during the fiscal year (changes in specified subsidiaries resulting in change in scope ofconsolidation): None
(2)

Application of Special Accounting for Preparing Quarterly Consolidated Financial Statements: Yes(3)

Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements(i)
Changes in accounting policies due to amendment of accounting standards, etc.: Yes(ii) Changes in accounting policies other than those in (i) above:None(iii) Changes in accounting estimates:None(iv) Restatements:
None

(4)

Number of issued shares (common shares)(i)
Total number of issued shares at end of period (including treasury shares)
As of September 30, 2023:
21,054,400 shares
As of December 31, 2022:(ii)
Number of treasury shares at end of period
As of September 30, 2023:
341,193 shares
As of December 31, 2022:(iii) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended
Nine months ended
20,791,680 shares
September 30, 2023:
September 30, 2022:

21,054,400 shares
160,793 shares
19,936,615 shares* This summary of financial results is not subject to audit procedures by a public accountant or audit corporation.
* Explanation regarding appropriate use of earnings forecasts, and other notes(Notes on forward-looking statements)
The earnings outlook and other forward-looking statements contained in this document are based on information currently
available to and certain assumptions that are thought to be reasonable by the Company. Accordingly, such statements should not
be construed as a guarantee of achieving the results by the Company. Actual business performance and other results may differ
materially due to various factors. For the conditions forming the assumptions on which earnings forecasts are based andexplanatory notes for use of earnings forecasts, etc.

- 2 -Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly Consolidated Balance Sheets(Unit: thousand yen)
As ofDecember 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
MerchandiseWork in process
Supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Software
Software in progress
Goodwill
Customer-related assets
Other
Total intangible assets
Investments and other assets
Claims provable in bankruptcy, claims provablein rehabilitation and other
Other
Allowance for doubtful accountsTotal investments and other assets
Total non-current assets
Total assets

- 3 -

As of
September 30, 2023

2,065,368
259,383
11,198
1,927
6,191
710
25,494(2,911)
2,367,362

2,147,399
400,228－
1,680
46,604769
31,979(3,017)2,625,644

55,61350,540216,121
188,481
238,728
27,813
399
671,544

222,742
262,065
221,433
25,986355
732,583

2,169

2,169

166,638(2,169)166,638
893,796
3,261,158

188,515(2,169)188,515
971,6393,597,284

(Unit: thousand yen)
As ofDecember 31, 2022
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Contract liabilities
Provision for point card certificates
Provision for shareholder benefit program
Provision for bonuses
Provision for bonuses for directors
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Asset retirement obligations
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Subscription rights to shares
Total net assets
Total liabilities and net assets

272,737
276,487
25,192
87,849168,765459,292
103,157
23,32018,01818,68181,797
1,535,298

407,894
255,301
23,28048,362
112,163
617,141
98,517
17,725－－
104,586
1,684,972

60,7702,224
62,994
1,598,293

43,3102,229
45,5391,730,511

246,900
246,447
1,269,072(99,554)
1,662,865

246,900
246,447－

1,662,865
3,261,158

- 4 -

As of
September 30, 2023

1,572,348(199,545)
1,866,150
621
1,866,772
3,597,284

(2)Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Unit: thousand yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Subsidy income
Refunded consumption taxes
Miscellaneous income
Gain on disposal of unpaid dividend
Total non-operating income
Non-operating expenses
Interest expenses
Commission fee
Loss on investments in partnership
Settlement package
OtherTotal non-operating expenses
Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
Net profit
Profit attributable to owners of parent- 5 -For the nine months
ended September 30, 2022
2,882,676
1,590,906
1,291,769
684,305
607,463

For the nine months
ended September 30, 2023
3,348,713
1,790,891
1,557,822
793,459764,363

14

16

21－
320
－
356

3
3,305
118
88
3,533

3,447
－
－
3,706
629
7,782
600,037

3,537
153
459
－
979
5,129
762,76761
61
599,975
215,595
384,380
384,380155
155
762,612240,584
522,027
522,027

(Quarterly Consolidated Statements of Comprehensive Income)(Unit: thousand yen)

Net profit
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests- 6 -For the six months
ended September 30, 2022
384,380
384,380

For the six months
ended September 30, 2023
522,027
522,027

384,380

522,027－－