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

February 14, 2022

Consolidated Financial Results
for the Nine Months Ended December 31, 2021
(Under Japanese GAAP)
Company name: SANIX INCORPORATED
Listing:
Tokyo Stock Exchange / Fukuoka Stock Exchange
Securities code: 4651
URL:
https://sanix.jp/lang_en/
Representative: Hiroshi Munemasa, President and Representative Director
Inquiries:
Hiroshi Soga, Executive officer, Division manager of Corporate Planning Division
Telephone:+81-92-436-8882
Scheduled date to file quarterly securities report:
February 14, 2022
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results briefing:
Yes (for Institutional investor)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 2021 (from April 1, 2021
to December 31, 2021)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended
December 31,
2021
December 31,
2020(Percentages indicate year-on-year changes.)

Operating Income

Profit attributable toowners of parent

Ordinary Income

Millions of yen%

Millions of yen%

36,4531.8

181(92.4)

35,812

(5.5)

2,381

4.2

Millions of yen%

Millions of yen

0 (100.0)

(306)

-

1,915

25.1

2,224

6.6

%

Note: Comprehensive income For the Nine months ended December 31, 2021:¥(259) million[ - ]For the Nine months ended December 31, 2020:¥ 1,937 million [28.4%]
Basic earnings
per share
Nine months ended
December 31,
2021
December 31,
2020

Diluted earnings
per share
Yen

Yen(6.41)

-

40.07

-

Note: From the beginning of the first quarter of fiscal year ending March 31, 2022, the Company began adopting the AccountingStandard for Revenue Recognition (ASBJ Statement No. 29. March 31, 2020), etc. The figures for the second quarter of the fiscal year
ending March 31, 2022 are the figures after the application of the relevant accounting standards.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen

December 31,
2021

36,631

7,832

21.3

163.35

March 31, 2021

32,940

8,097

24.5

168.84

Reference: Equity
As of December 31, 2021:
As of March 31, 2021:%

Net assets
per share
Yen¥7,808 million¥8,071 million

Note: From the beginning of the first quarter of fiscal year ending March 31, 2022, the Company began adopting the AccountingStandard for Revenue Recognition (ASBJ Statement No. 29. March 31, 2020), etc. The figures for the second quarter of the fiscal year
ending March 31, 2022 are the figures after the application of the relevant accounting standards.

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarterend

Third quarter-end

Yen

Yen

Yen

Yen

Yen

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022

Fiscal year-end

Total

0.00

Fiscal year ending
March 31, 2022
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated financial forecasts for the fiscal year ended March 31, 2022(from April 1, 2021 toMarch 31, 2022)
Net sales

Full Year

Operating Income

Ordinary Income

Profit attributableto owners ofparentBasic earnings
per share

Millions ofYen%Millions ofYen%Millions ofYen%Millions ofYen%

50,7552.7(2,229)-(2,435)-(2,803)-Yen(58.64)Note
1.Revision from the most recently announced forecast of consolidated business results: Yes
2.From the beginning of the first quarter of fiscal year ending March 31, 2022, the Company began adopting the
Accounting Standard for Revenue Recognition (ASBJ Statement No. 29. March 31, 2020), etc.
The figures for the first quarter of the fiscal year ending March 31, 2022 are the figures after the application of therelevant accounting standards.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in
the change in scope of consolidation): None
Newly included: - companies (Company name)
Excluded:- companies (Company name)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial
statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
Note :For details, please see 2. Quarterly Consolidated Financial Statements and Main Notes to theStatements (3) Notes on Consolidated Financial Statements (Changes in Accounting Policies) on page
12 of the attachment.
(4) Number of issued shares (common shares)
(i)

(ii)

Total number of issued shares at the end of the period (including treasury shares)
As of December 31,2021

48,919,396 shares

As of March 31,2021

48,919,396 shares

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

1,114,838 shares

As of March 31,2021

1,114,693 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the
fiscal year)
Six months ended December 31, 2021

47,804,620 shares

Six months ended December 31, 2020

47,804,903 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public
accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including results forecasts, included in this material are based on the information that
the Company has obtained and certain assumptions that the Company considers reasonable. Actual results may differ
significantly for a range of factors. The assumptions for the results forecasts and cautions in the use of the forecasts
are described in 1. Qualitative Information for the Nine months ended December 31, 2021, (3) Information on the Future
Outlook, Including the Forecasts of Consolidated Business Results on page 6 of the Attachment

Index of the attachment
1. Qualitative Information for the Nine months ended December 31, 2021 ..............
(1) Information of Consolidated Business Results ......................................................................
(2) Information of Consolidated Financial Position .....................................................................

225(3) Information on the Future Outlook,
Including the Forecasts of Consolidated Business Results .................................................

6

2. Quarterly Consolidated Financial Statements and the Primary Notes for theNine months ended December 31, 2021 ..................................................................................

7(1) Quarterly Consolidated Balance Sheets ................................................................................

7(2) Quarterly Consolidated Statements of Income and Comprehensive Income ...................

9

Quarterly Consolidated Statements of Income ......................................................................

9

Quarterly Consolidated Statements of Comprehensive Income .......................................

10(3) Notes regarding the Quarterly Consolidated Financial Statements ...................................

11

Notes on matters related to going concern assumption .................................................

11

Notes to Remarkable Changes in the amount of Shareholders’ Equity .......................

11

Changes in accounting policies .........................................................................................

12

Segment Information, etc. .................................................................................................

14

3. Others ....................................................................................................................................................

17

Consolidated Net Sales by Division.........................................................................................

17

2

1. Qualitative Information for the Nine months ended December 31, 2021
(1) Information of Consolidated Business Results
In the first nine months under review (April 1, 2021 to December 31, 2021), the Japanese
economy showed signs of recovery as the state of emergency declared due to the COVID-19
pandemic was ended in October 2021 and economic activity resumed. However, the outlook
remains uncertain due to the impact of the global shortage of semiconductors in individual
industries and the confirmation of a new highly infectious COVID-19 variant in Japan. In thissituation, SANIX INCORPORATED and its consolidated subsidiaries (hereinafter the “Group”)
continued their respective operations, prioritizing prevention of the infection’s spread.
In May 2021, the Group formulated the SANIX Long-Term Vision 2030 to clarify its direction
toward 2030 and its goals to achieve a carbon-neutral society and a recycling-based
economy. Under the corporate philosophy, "A Clean and comfortable environment for the next
generation," we will continue our efforts to create a sustainable society.
Net sales of the Solar Engineering (SE) Division declined reflecting the effects of the Feed-in
Tariff (FIT) System revision in photovoltaic systems. However, net sales for the Home
Sanitation (HS) Division, the Establishment Sanitation (ES) Division, and the Environmental
Resources Development (ERD) Division increased firmly year on year. As a result, theGroup's consolidated net sales for the first nine months under review came to ¥36,453 million(up 1.8% year on year).
The Group's consolidated operating income decreased ¥181 million (down 92.4% year onyear), consolidated ordinary income was ¥0 million (down 100.0% year on year), loss
attributable to owners of parent was ¥306 million (compared to profit attributable to owners ofparent of ¥1,915 million in the same period of the previous year), due to the effects of thedecline in net sales for the SE Division, rising prices of materials, and repair expenses posted
in connection with the legal inspections of Tomakomai power plant in the ERD Division as well
as a higher-than-expected increase in electricity procurement costs due to a sharp rise in
prices on the Japan Electric Power Exchange (JEPX) from October 2021 in the PPS (Power
Producer and Supplier) business of the Energy Business Division.
The Company began applying the Accounting Standard for Revenue Recognition (ASBJ
Statement No. 29. March 31, 2020), etc. from the first quarter of the current fiscal year.
Year-on-year increases (decreases) and percentage changes from the results for the firstnine months of the previous fiscal year based on the previous accounting method are stated
to explain consolidated business results. For details, please see 2. Quarterly Consolidated
Financial Statements and the Primary Notes for the First Nine Months Ended December 31,
2021 (3) Notes regarding the Quarterly Consolidated Financial Statements (Changes inaccounting policies).
Operating results by segment for the first three quarters under review are as follows.

3a. SE (Solar Engineering) Division
In the SE Division, net sales for photovoltaic systems decreased 19.0% year on year becauseof many small projects, although the number of installations was on par with the previous
fiscal year due to a focus on photovoltaic systems for surplus and private consumption,reflecting the effects of a smaller number of investment projects attributable to the FIT systemrevision. As a result, net sales in this segment decreased to ¥6,223 million (down 19.2% year
on year).
The segment posted an operating loss of ¥225 million (operating income of ¥219 million
posted in the same period of the previous fiscal year) chiefly due to the significant impact ofthe decrease in net sales and the increase in material prices.
b. HS (Home Sanitation) Division
The HS Division refrained from new sales visits in areas where a state of emergency had
been declared and prioritized measures to prevent the spread of COVID-19. However, inother areas, sales activities were conducted as usual while taking thorough preventive
measures. Termite extermination services increased 1.8% year on year, and the constructionof underfloor/attic ventilation systems increased 8.5% year on year, and basic repair work andhousing reinforcement construction increased 21.6% year on year. As a result, net sales forthe segment totaled ¥9,471 million (up 9.4% year on year).
Operating income for the segment amounted to ¥1,908 million (up 16.4% year on year) due toan increase of net sales and improvements in the efficiency of installation offsetting increased
personnel and other expenses caused by the expansion of the workforce.

c. ES (Establishment Sanitation) Division
The ES Division improved relationships with building and condominium owners and partnercompanies, including management companies, by expanding business through an active
increase of personnel and the opening of a new sales office. Net sales for the installation of
the Company's main anti-rust equipment (product name: Daelman Shock) increased 7.7%
year on year, and net sales for water supply and drainage repairs rose 20.6% year on year.
Net sales for building water proofing work also rose 18.8% year on year. As a result, net sales
for the segment totaled ¥1,902 million (up 11.1% year on year).
Operating income for the segment amounted to ¥178 million (down 1.3% year on year)
because of an increase in personnel and other expenses due to the expansion of theworkforce offsetting the impact of the profit increase due to the net sales increase.

4d. Environmental Resources Development (ERD) Division
In the ERD Division, net sales declined 9.0% year on year for power plants, owing to thesuspension of the operation of SANIX ENERGY's Tomakomai power plant in April for biennial
legal inspections. On the other hand, plastic fuel sales increased 2.2% year on year reflecting
growth in the volume of waste accepted, organic waste water treatment rose 8.6% year on
year, and final disposal increased 16.7% year on year. As a result, net sales in this segment
increased to ¥12,770 million (up 1.0% year on year).
Operating income for the segment amounted to ¥2,342 million (down 21.9% year on year)
reflecting lower sales due to the legally required inspection of the Tomakomai power plant
and the recording of repair expenses.

e. EB(Energy Business) Division
In the Energy Business Division, in the current year we shifted the Tomakomai power plant todirect wholesale sales to external customers, not through the PPS business. In addition, wechanged to a method recognizing revenue on a net basis for some transactions associatedwith the adoption of the Accounting Standard for Revenue Recognition (ASBJ Statement No.
29. March 31, 2020), etc. As a result, the PPS business was down 9.4% year on year.
Additionally, the third party-owned photovoltaic power generation model for detached houses
that the Company is promoting in collaboration with other companies decreased 17.6% year
on year. As a result, net sales in this segment decreased to ¥6,120 million (down 9.9% year
on year).
The segment posted an operating loss of ¥1,432 million (operating income of ¥28 million
posted in the same period of the previous fiscal year), reflecting large cost increases due to a
sharp rise in the unit cost of power procurement in the wholesale electricity trading market(JEPX) from October 2021 in the PPS business.

5(2) Information of Consolidated Financial Positiona. Information on the status of Assets, of Liabilities, and of Net Assets
Total assets at the end of the first nine months under review amounted to ¥36,631 million, an
increase of ¥3,691 million from the end of the previous fiscal year. This result chiefly reflected
an increase in investment and other assets of ¥1,051 million due to a rise in long-term
prepaid expenses caused by the application of the Accounting Standard for Revenue
Recognition (ASBJ Statement No. 29. March 31, 2020), etc., in addition to growth inmachinery, equipment and vehicles of ¥1,402 million and an increase in buildings andstructures of ¥1,348 million.
Total liabilities stood at ¥28,798 million, an increase of ¥3,955 million from the end of theprevious fiscal year. This result was largely attributable to increases in accounts payable of¥1,155 million, notes and accounts payable-trade of ¥679 million, and other current liabilitiesof ¥1,633 million due to a rise in contract liabilities and the like through the application of
Accounting Standard for Revenue Recognition (ASBJ Statement No. 29. March 31, 2020),
etc.
Net assets totaled ¥7,832 million, a decrease of ¥264 million from the end of the previous
consolidated fiscal year. The key factors contributing to the decrease included the posting ofloss attributable to owners of parent of ¥306 million.
Consequently, the capital-to-asset ratio came to 21.3% at the end of the first nine months
under review, compared with 24.5% at the end of the previous fiscal year.

6(3) Information on the Future Outlook, Including the Forecasts of Consolidated
Business Results
Regarding consolidated financial forecasts, market prices on the Japan Electric Power
Exchange (JEPX) have increased more than we expected since November, and haveremained at a high level, significantly deviating from our expectations in the recent past. In
the Company's PPS business, a certain amount of the power we supply is procured from the
JEPX, resulting in a large increase in the cost of sales.
Therefore, operating income, ordinary income, and profit attributable to owners of parent are
expected to fall far short of the previous forecast. As a result, the Company revised its
full-year consolidated financial forecasts on January 28, 2022. Please see the table below for
more information.

The forecast of Consolidated Business Results for the full fiscal year ending March 31, 2022
(From April 1, 2021 to March 31, 2022)(In Millions of Yen)

Previous Forecast
Revised Forecast
Changes
Rate of Change
Reference:
Results for FY2020(ended March 31,2021)

Ordinary
IncomeProfitattributableto owners ofparentBasicearnings
per share /¥Net Sales

Operating
Income(A)

50,318

1,827

1,621

819

¥17.15(B)

50,755(2,229)(2,435)

(B－A)

436

(4,057)(4,056)(2,803)(3,622)(¥58.64)
－

(％)

0.9

－

－

－

－

49,416

2,325

2,091

1,965

¥41.117

2. Quarterly Consolidated Financial Statements and the Primary Notes for theNine months ended December 31, 2021
(1) Quarterly Consolidated Balance Sheets(In Millions of Yen)

As of

As of

Mar. 31,2021

Dec. 31,2021

Cash and deposits

5,256

5,479

Notes and accounts receivable-trade

5,228

5,965

36

44

Assets :Current Assets :Merchandise and finished goods
Work in process-construction

63

113

Raw materials and supplies

2,910

2,775

Other

1,330

1,615

Allowance for doubtful accounts

(194)

(162)

14,633

15,831

Buildings and structures (net of depreciation)

1,624

2,973

Machinery, Equipment and Vehicles(net of depreciation)

3,002

4,404

8,094

8,329

Total Current Assets
Fixed Assets:
Property, Plant and Equipment :Land
Other (net of depreciation)

2,600

1,076

Total Property, Plant and Equipment

15,322

16,784773

753

Intangible Fixed Assets :Investments and Other Assets :

2,210

3,262

Total Fixed Assets

18,306

20,799Total Assets

32,94036,631

8(In Millions of Yen)

As of

As of

Mar. 31,2021

Dec. 31,2021

Notes and accounts payable-trade

4,037

4,717

Short-term loans payable

6,630

6,157

230

362

-

200

Liabilities :Current Liabilities :Current portion of long-term loans payable
Current portion of bonds payable
Accounts payable

2,696

3,851

Accrued income taxes

152

187

Provision for bonuses

256

134

9

15

Other

2,849

4,483

Total Current Liabilities

16,861

20,109Allowance for resource-recycling expenses

Non-Current Liabilities :Bonds payable
Long-term loans payable

500

800

2,417

2,394

Provision for directors’ retirement benefits

94Provision for disposal site closing expenses

675

705

Liability related to retirement benefits

1,859

1,930

Other

2,519

2,854

Total Non-Current Liabilities
Total Liabilities

7,981

8,689

24,842

28,79814,041

14,041Net Assets :Shareholders’ Equity :Capital stock
Capital surplus

1

1

Retained earnings(4,541)(4,852)

Treasury stock(1,481)(1,481)

Total Shareholders’ Equity

8,020

7,709

Valuation difference on available-for-sale securities

55

44

Foreign currency translation adjustment

156

Adjustment for retirement benefits (cumulative)

(5)

(1)

Total Accumulated other comprehensive income

50

98

Accumulated other comprehensive income :Non-controlling Interests

25

23

Total Net Assets

8,097

7,832

Total Liabilities and Assets

32,94036,631

9(2) Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statements of Income)(In Millions of Yen)

Nine months
From April 1 to December 31
FY2020

FY2021

Net sales

35,81236,453

Cost of sales

22,25825,181Gross profit

13,553

11,271

Selling, general and administrative expenses

11,172

11,090Operating income

2,381

181

Interest income

1210Dividends income22Land and house rent revenue

47

47

Other

51

45

Total non-operating income

113

106

155

177

Other

113

109

Total non-operating expenses

269

287

Ordinary income (loss)

2,224

0

Income (loss) before income taxes and minority interests

2,224

0

Income taxes-current

159

222

Income taxes-deferred

150

85

Total income taxes

309

308

Net Income (loss)

1,915

(307)

Net income (loss) belonging to the non-controlling shareholders
Net income(loss) belonging to the shareholders of the parent
company

0
1,915

(1)
(306)

Non-operating income :Non-operating expenses :Interest expenses

10(Quarterly Consolidated Statements of Comprehensive Income)(In Millions of Yen)

Nine months
From April 1 to December 31
FY2020

FY2021

1,915

(307)

13

(10)

Foreign currency translation adjustment

34

54

Retirement benefit adjustment

(25)

4

Total other comprehensive income

21

48

1,937

(259)

1,937

(258)

0

(1)

Net Income
Other comprehensive income :Valuation difference on available-for-sale securities

Comprehensive net income(Breakdown)Comprehensive income belonging to the shareholders of the parent
company
Comprehensive income belonging to non-controlling shareholders

11(3) Notes regarding the Quarterly Consolidated Financial Statements(Notes on matters related to going concern assumption): None(Notes to Remarkable Changes in the amount of Shareholders’ Equity): None12(Changes in accounting policies)(Adoption of the Accounting Standard for Revenue Recognition）
From the beginning of the first quarter of the fiscal year ending March 31, 2022, the Company
began adopting the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29.
March 31, 2020, hereinafter "Revenue Recognition Accounting Standard"), etc. The Company
has decided to recognize revenue at the amount it expects to receive in exchange for thepromised goods or services when control of the goods or services is transferred to thecustomer.
Major changes due to the adoption of the Revenue Recognition Accounting Standard are as
follows:
1. Revenue Recognition from the Satisfaction of Performance Obligations
For some warrantied parts of solar photovoltaic generation systems sales, revenue waspreviously recognized, including revenue from system sales, at the completion of installation.
However, we have changed to a method recognizing revenue over the warranty period.
In addition, regarding retail sales of electricity, revenue was previously recognized based on
the meter reading date (a method of recognizing revenue based on the amount of usage
confirmed by meter readings conducted on days other than the end of each month). However,
we have changed to a method estimating and recording the revenue generated from the dateof meter reading conducted in the closing month to the closing date, in accordance with
Paragraph 103-2 of the "Application Guidance on Revenue Recognition Accounting Standard" (ASBJ Guidance No. 30, March 26, 2021).
2. Recognition of Revenue from Proxy Transactions
For transactions in which the Group's role in the sale to the customer is that of an agent, theGroup previously recognized the total amount of the consideration received from thecustomer as revenue. However, the Group has changed to a method of recognizing revenue
on a net basis deducting the amount paid to third parties from the total amount of theconsideration.
We apply the Revenue Recognition Accounting Standard, etc. in accordance with thetransitional treatment prescribed in the proviso of paragraph 84 of the Revenue Recognition
Accounting Standard. The cumulative effect of retroactively applying the new accounting
policy prior to the beginning of the first quarter of fiscal year ending March 31, 2022 wasadded to or deducted from retained earnings at the beginning of the first quarter of the current
fiscal year, and the new accounting policy has been applied from the beginning balance of thecurrent fiscal year. However, we have applied the method prescribed in Paragraph 86 of the
Revenue Recognition Accounting Standard and have not retrospectively applied the new
accounting policy to contracts in which almost all of the revenue amount was recognized in13accordance with the previous treatment prior to the beginning of the first quarter of the current
fiscal year.
As a result, net sales for the first nine months under review (April 1, 2021 to December 31,2021) declined ¥1,043 million, cost of sales decreased ¥1,047 million, selling, general andadministrative expenses declined ¥8 million. Operating income, ordinary income and income
before income taxes and minority interests each increased ¥11 million. Retained earnings at
the beginning of the current fiscal year decreased ¥4 million.
In accordance with the transitional treatment prescribed in Paragraph 89-2 of the Revenue
Recognition Accounting Standard, no reclassification has been made to the prior year's
consolidated financial statements to conform to the new presentation. In accordance with thetransitional treatment prescribed in Paragraph 28-15 of the Accounting Standard for Quarterly
Financial Reporting (ASBJ Statement No. 12, March 31, 2020), information on revenues fromcontracts with customers for the first quarter of the previous fiscal year have not been broken
down.
(Application of the Accounting Standard for Fair Value Measurement, etc.)
The Company began applying the Accounting Standard for Fair Value Measurement (ASBJ
Statement No. 30. July 4, 2019), etc. from the first quarter of the current fiscal year.
Accordingly, the Company decided to apply into the future new accounting policies prescribedin the Accounting Standard for Fair Value Measurement, etc., in accordance with transitional
treatment prescribed in Paragraph 19 of the said Accounting Standard and Paragraph 44-2 ofthe Accounting Standard for Financial Instruments (ASBJ Statement No. 10. July 4, 2019).
The application of the new accounting policies has no effect on quarterly consolidated
financial statements.

14(Segment Information, etc.)
Ⅰ Nine months ended December 2020 (From April 1, 2020 to December 31, 2020)
Information concerning the Amount of Net Sales and Operating Income (loss) by
Segment(In Millions of Yen)

Segments

Elimination
or Group(note 1)

Consolidated(note 2)

SE

HS

ES

ERD

EB

Total

7,706

8,658

1,712

10,9506,785

35,812-35,812

-

-

-

1,696

5

1,702

(1,702)

-

7,706

8,658

1,712

12,647

6,790

37,514(1,702)35,812

219

1,639

180

2,998

28

5,067

(2,686)

2,381

Sales:
Sales to customers
Internal sales
among segments andtransfer accounts
Total
Operating income (loss)(note 1)
Negative ¥2,686 million for adjustments of Operating income (loss) represents corporate expenses notallocated to reportable segments. Corporate expenses are mainly general and administrative expenses note
attributable to reportable segments.
(note 2)
Operating income (loss) is adjusted to operating loss of quarterly consolidated statements of income.

15

Ⅱ Nine months ended December 2021 (From April 1, 2021 to December 31, 2021)
Information concerning the Amount of Net Sales and Operating Income (loss) by
Segment
SE
Sales
Sales and installationof PV system

Segments
ES
ERD

HS

EB

Elimination or Consolidated
Group (note1)(note 2)

Total

6,059

-

-

-

-

6,059

-

6,059

Wholesale of PV
system

109

-

-

-

-

109

-

109

Termite control
construction

-

2,804

-

-

-

2,804

-

2,804

Under-floor/attic
ventilation system

-

2,422

-

-

-

2,422

-

2,422

Foundation Repair/
Home Reinforcement
System

-

1,549

-

-

-

1,549

-

1,549

Anti-rust equipment
installation

-

-

942

-

-

942

-

942

Water supply anddrainage repair

-

-

514

-

-

514

-

514

Waterproofing andrenovation of buildings

-

-

151

-

-

151

-

151

Plastic fuel

-

-

-

8,071

-

8,071

-

8,071

Power Plant

-

-

-

2,116

-

2,116

-

2,116

Organic Waste liquid
treatment

-

-

-

1,529

-

1,529

-

1,529

Landfill

-

-

-

682

-

682

-

682

Sales of Electricity

-

-

-

-

5,748

5,748

-

5,748

54

2,694

293

363

344

3,750

-

3,750

6,223

9,471

1,902

12,764

6,092

36,453-36,453

6,223

9,471

1,902

12,764

6,092

36,453-36,453

-

-

-

6

27

34

(34)

-

6,223

9,471

1,902

12,7706,120

36,487(34)

36,453

(225)

1,908

178

2,342

(1,432)2,771(2,590)181

Others
Revenue fromcontracts withcustomers
Sales to customers
Internal sales among
segments and transfer
accounts
Total
Operating income(loss)(note 1)
Negative ¥2,590 million for adjustments of Operating income (loss) represents corporate expenses notallocated to reportable segments. Corporate expenses are mainly general and administrative expenses note
attributable to reportable segments.
(note 2)
Operating income (loss) is adjusted to operating loss of quarterly consolidated statements of income.

16

2.Information on changes in reportable segments
As described in (Changes in Accounting Policies), starting from the beginning of the first quarter of fiscal
year ending March 31, 2022, the Company began adopting the Accounting Standard for Revenue
Recognition (ASBJ Statement No. 29. March 31, 2020), etc. The Company has changed its accounting
method for revenue recognition.
Net sales in the SE Division increased by ¥113 million, net sales in HS Division, ERD Division, and EB
Division decreased by ¥8 million, ¥ 164 million, and ¥984 million respectively for the first quarter under review
due to the change, compared with those under the previous accounting method. The impact on segment
income or loss is immaterial.

17

3. Others
Consolidated Net Sales by Division（In Million of Yen）
From April 1 to December 31
Comparison

Unit
FY2020

FY2021

Item
QTY

AmountQTY

AmountQTY

AmountSales and installation of PV system

kW40,3107,481

22,724

6,059-17,585-1,422Wholesale of PV system

－

－

153

－

109

－

-44

Others

－

－

71

－

54

－

-16

－

－

7,706

－

6,223

－

-1,483

tsubo

444

2,756

450

2,804

5

48

－

－

2,233

－

2,422

－

188

House

3,108

1,273

3,744

1,549

636

275

－

－

2,394

－

2,694

－

300

H om e Sa ni ta ti on D i v i s i on Tota l

－

－

8,658

－

9,471

－

813

Anti-rust equipment installation

Piece

803

875

915

942

112

66

Water supply and drainage repair

－

－

426

－

514

－

87

Waterproofing and renovation ofbuildings

－

－

127

－

151

－

24

Others

－

－

282

－

293

－

10

－

－

1,712

－

1,902

－

189

Plastic fuelｔ

204,194

7,897

217,118

8,071

12,923

174

Power Plant

－

－

2,334

－

2,123

－

-210

Organic Waste liquid treatmentｔ73,118

1,408

76,506

1,529

3,388

120

Landfill

－

－

584

－

682

－

97

Others

－

－

422

－

363

－

-58

－

－

12,647－

12,770－123

Sales of Electricity

－

－

6,372

－

5,776

－

-596

Others

－

－

417

－

344

－

-73

E nerg y B us i nes s D i v i s i on

－

－

6,790

－

6,120

－

-669

Adjustment of intersegment sales－－(1,702)

－

(34)

－

1,667

Total Net Sales－－

35,812－36,453－640

Sol a r E ng i neeri ng D i v i s i on Tota l
Termite control construction
Under-floor/attic ventilation system
Foundation Repair/
Home Reinforcement System
OthersE s ta bl i s hm ent Sa ni ta ti on
D i v i s i on Tota lE nv i ronm enta l R es ources
D ev el opm ent D i v i s i on Tota l*1,000Note
1.Descriptions are omitted for items that are handled in such a wide range that it is difficult to grasp their quantity.
2.1,000 tsubo is approximately 3,305.785 ㎡.
3.From the beginning of the first quarter of fiscal year ending March 31, 2022, the Company began adopting
the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29. March 31, 2020), etc. The figures
for the first quarter of the fiscal year ending March 31, 2022 are the figures after the application of the relevant
accounting standards.