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 Three Months Ended March 31, 2021
(Based on Japanese GAAP)May 11, 2021
Company name:teno.Holdings Company Limited
Stock exchange listing: Tokyo, Fukuoka
Stock code:
Representative:

7037
URL
President & CEO

https://www.teno.co.jp/
Hiroko Ikeuchi

Inquiries:
Director,GM of Administrative Headquarter
Scheduled date to file Quarterly Securities Report:

Haruhiko Yoshino
May 12, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

NoTEL

092 (263) 3550

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2021 (from January 1, 2021 to March 31, 2021)(1) Consolidated operating results (cumulative)
Net sales
Three months ended March 31, 2021
Three months ended March 31, 2020

Millions of yen
2,965
2,634

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
12.5
220
16.2
236
26.2
147
24.7
3.1
189
21.8
186
24.8
118
20.8

Earnings per share

Diluted earnings per share

Yen
31.59
25.41

Three months ended March 31, 2021
Three months ended March 31, 2020

Yen
31.31
25.14

(2) Consolidated financial position
Total assets
As of March 31, 2021
As of December 31, 2020

Net assets

Millions of yen
7,998
7,419

Equity ratio

Millions of yen
2,239
2,127%
28.0
28.7

2. Cash dividends
Annual dividends per share

Year ended December 31, 2020
Year ending December 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
8.20

Yen
8.20

0.00

–

8.40

8.40

Year ending December 31, 2021 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)
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
12,000
11.3
620
1.3
594
–364
7.3
78.16

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4. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

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:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021

4,673,100 shares As of December 31, 2020

4,657,500 shares

183 shares As of December 31, 2020

183 shares

Number of treasury shares at the end of the period
As of March 31, 2021

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2021

4,667,830 shares Three months ended March 31, 2020

24,654,093 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2020

As of March 31, 2021

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

1,895,696
955,655

1,885,683
982,009356,148(1,028)500,978(971)

3,206,472

3,367,699

2,376,863(723,967)

2,376,863(760,841)

1,652,896

1,616,022

15,633(10,770)

15,633(11,477)

Leased assets, net

4,863

4,156

Construction in progress
Other

81,040341,161

517,964
347,119(291,906)(295,426)

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Leased assets
Accumulated depreciation

Accumulated depreciation
Other, net

49,254

51,692

1,788,0552,189,836

710,548

695,357

Other

110,618

132,361

Total intangible assets

821,167

827,718

Long-term loans receivable
Long-term prepaid expenses

818,039355,249

808,043
348,132

Deferred tax assets
Leasehold and guarantee deposits

58,681
371,501

82,733374,659

Other
Allowance for doubtful accounts

581
(581)

673
(673)

Total investments and other assets

1,603,471

1,613,567

4,212,694

4,631,122

7,419,167

7,998,822

24,001

27,899

Short-term borrowings
Current portion of long-term borrowings

300,000
441,3121,200,000
441,312

Accounts payable - other
Income taxes payable

795,981
185,859

726,922
114,331

Provision for bonuses
Other

47,924
600,794

150,093329,737

Total current liabilities

2,395,874

2,990,296

Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets

Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade3

(Thousands of yen)
As of December 31, 2020
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for retirement benefits for directors (and otherofficers)
Asset retirement obligations
Other

As of March 31, 2021

2,767,782

2,643,219

2,764

–

16,513

17,40992,19792,28816,36915,7962,895,627

2,768,713

5,291,501

5,759,009

Share capital
Capital surplus

451,141
528,641

452,576
530,076

Retained earnings
Treasury shares

1,148,074(191)

1,257,351(191)

Total shareholders' equity

2,127,665

2,239,813

2,127,665

2,239,813

7,419,167

7,998,822

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Total net assetsTotal liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

March 31, 2020

March 31, 2021

Net sales
Cost of sales

2,634,619
2,171,114

2,965,103
2,449,817

Gross profit

463,504

515,286

Selling, general and administrative expenses

274,101

295,166

Operating profit

189,403

220,120

1,372
150

1,338
18,181

500

1,472

2,023

20,992

3,926
513

4,221
862

Non-operating income
Interest income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses

4,440

5,083

186,986

236,029

Subsidy income–

27,955

Total extraordinary income–

27,955––26,301
4,444

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on tax purpose reduction entry of non-current assets
subsidies return loss–

30,745

Profit before income taxes

Total extraordinary losses

186,986

233,239

Income taxes - current
Income taxes - deferred

99,179(30,468)

82,5583,213

Total income taxes

68,71085,772

Profit118,276

147,467

Profit attributable to owners of parent

118,276

147,4675

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)Three months ended

Three months ended

March 31, 2020

March 31, 2021

Profit118,276

147,467

Comprehensive income

118,276

147,467

118,276

147,467

Comprehensive income attributable toComprehensive income attributable to owners of parent

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