Summary of Consolidated Financial Statements for the First Quarter FY2022 (IFRS)
February 10, 2022
Exchange: First Section of Tokyo Stock Exchange
Name of listed company:

GMO Payment Gateway, Inc.

Stock code:

3769

Representative:

Issei Ainoura

President & Chief Executive Officer

Contact:

Ryu Muramatsu

Director, Executive Vice President

Tel: +81-3-3464-0182

Scheduled submission date of quarterly
reportFebruary 14, 2022

Scheduled date of commencement for
dividend payment-

Supplemental materials prepared forfinancial results

Yes

Information meeting arranged related tofinancial results

Yes

URL: https://www.gmo-pg.com/en/corp/(for institutional investors and analysts)(Amounts rounded down to the nearest one million yen)

1.

Consolidated Financial Statements for the First Quarter, FY2022(From October 1, 2021 to December 31, 2021)(1) Consolidated Financial Statements (Cumulative)
Revenue

Q1 FY2022
Q1 FY2021

Operating profit(Percentages represent year-on-year % change)

Profit before
income taxes

Quarterly
ProfitMil Yen

Mil Yen%

Mil Yen%

Mil Yen%11,857
9,767

21.4
28.5

4,116
3,122

31.8
48.3

4,299
3,038

41.5
10.1

Basic earnings per
share

%

Mil Yen2,582 47.6
1,749 △0.3

2,517
1,704

% Mil Yen

47.6
△1.4

Yen
32.90
22.52

(2) Consolidated Financial Position
Total assets

Q1 FY2022
FY2021
2.

Ratio of total equity
Total equity attributable
attributable to owners ofto owners of parent
parent to total assets

Total equity

Mil Yen

Mil Yen

Mil Yen%

243,997
215,455

55,92057,82053,97055,84522.1
25.9

Dividends
Annual dividend
End of Q1
FY2021
FY2022
FY2022 (forecast)(Note)

3.

End of Q2

End of Q3

Year-end

Total

Yen

Yen

Yen

Yen

Yen

0.00
0.00

0.00

0.00

59.00

59.00

0.00

66.00

66.00

0.00

Revision to the most recently released dividend forecast:

No

Consolidated Financial Forecast for the Fiscal Year Ending September 2022
(From October 1, 2021 to September 30, 2022)(% represents year-on-year change)

Profit before
Operating profit
income taxes

Revenue
2Q FY2022
Full year(Note )Mil Yen%23,43850,00017.9
20.0

Mil Yen%

8,117 23.1
16,234 25.0

Mil YenProfit attributable Basic earnings
to owners of parent per share

Profit%Mil Yen%Yen

7,738 16.6 4,880 14.7
15,538 17.0 10,048 11.9

4,795
9,860

15.0
11.8

63.23
130.01

Revision of the most recently released financial forecast:―1―% Mil YenNo%

2,652 76.4
1,504 △24.4

Diluted earnings per
share

Yen
33.19
23.16

Q1 FY2022
Q1 FY2021

Profit attributableTotal
to owners ofcomprehensive
parentincomeNotices:(1) Changes of important subsidiaries during the period (change of specific subsidiaries that leads to a change in thescope of consolidation): No
Number of new subsidiaries: - (Name:); Number of excluded subsidiaries: - (Name:)(2)

Changes in the accounting policy / changes in the accounting estimation[1] Changes in accounting policy required by IFRS.: No[2] Changes in accounting policy other than [1]: No[3] Changes in accounting estimations: No(3)

Number of shares issued (common stock)[1] Number of shares issued at the end of the term(including treasury stock)[2] Number of treasury shares at the end of the term
[3] Average number of shares during the term

Q1 FY2022: 76,557,545

FY 2021:76,557,545

Q1 FY2022: 714,996
Q1 FY2022: 75,842,549

FY 2021: 714,996
Q1 FY2021: 73,613,809(Note 1) Number of treasury shares at the end of the term above include the shares attributed to the directors’
remuneration board incentive plan trust and J-ESOP (709,705 shares for FY2021; 709,705 shares for Q1
FY2022.)* These quarterly financial statements are not subject to the quarterly review procedures.
* Notes regarding the appropriate use of financial forecast and other important notes
1. The above forecasts are outlooks based on information currently available and include various uncertain factors.
Actual performance may differ substantially from the forecasts due to changes in business conditions and otherfactors. For the assumption on which financial forecasts are based and matters to be considered in using financial
forecasts, please refer to “(3) Review of consolidated earnings forecasts and other forecasts” under “1. Qualitative
Information on Consolidated Financial Statements for the Quarter” on page 9 of the attachment.
2 Results Presentation for Investors and Analysts to be held on February 10, 2022. Supporting materials and a video ofthe presentation will be made available on the company's website after the event.

―2―

Table of contents of attachments
１．Qualitative Information on Consolidated Financial Statements for the Quarter……………..………...................

4（１）Consolidated operating results…………………………………………………………………………………….

4（２）Status of consolidated financial position……………………………………………………………………….…

8（３）Review of consolidated earnings forecasts and other forecasts…………………………………………...…..

9

2．Condensed Consolidated Financial Statements and Major Notes..………………………………………………..... 10（１）Condensed consolidated balance sheet …………………………………………………………………………

10（２）Condensed consolidated statement of income and statement of comprehensive income …………………

12（３）Condensed consolidated statement of changes in equity ……………………………………………...……… 14（４）Condensed consolidated statement of cash flows ……………………………………………………...………

15（５）Notes regarding the going concern assumptions………………………………………………………………..

17（６）Notes regarding the consolidated financial statement…………………………………………………………..

17➀ Cash and cash equivalents…………………………………………………………………………………….

17② Trade and other receivables…………………………………………………………………………………… 17③ Deposits to subsidiaries and affiliates………………………………………………………………………...

―3―

17

1. Qualitative Information on Consolidated Financial Statements for the Quarter(1) Consolidated operating results
Forward-looking statements in the document are based on the judgement of the Group at the end of the quarter underreview.
①

Consolidated operating results
The Group announces its earnings results for the cumulative first quarter of the consolidated fiscal year 2022
(October 1, 2021 to December 31, 2021) as follows.
(Unit: Thousand yen)
Q1 FY2021(From October 1, 2020
to December 31, 2020

Q1 FY2022(From October 1, 2021
to December 31, 2021

Rate of change (%)

Revenue

9,767,132

11,857,766

21.4

Operating profit

3,122,699

4,116,377

31.8

Profit before income taxes

3,038,656

4,299,022

41.5

1,704,968

2,517,248

47.6

Profit attributable to ownersof parent
a. Revenue

The Group’s revenue reached to ¥11,857 mil, up by 21.4% Year-on-Year (YoY). The Payment Processing
Business revenue grew, led by steady growth of E-Commerce (EC) market for online billing and recurring billing
coupled with the expansion of the Group’s services to the offline domain. The Money Service Business (MSB)
revenue increased from growth of GMO Payment After Delivery transactions which is a Buy Now Pay Later(BNPL) service, Early Payment Service, and Lending service to overseas operators. Payment Processing
Business revenue was ¥8,866 mil (up 24.5% YoY), Money Service Business (MSB) revenue was ¥2,772 mil (up11.7% YoY) and Payment Enhancement Business revenue was ¥225 mil (up 37.8% YoY). For details, pleaserefer to page 5 of “② Results by segment” found under “(1) Consolidated operating results” of “1. Qualitative
Information on Consolidated Financial Statements for the Quarter”.
Revenue breakdown by business model is as follows.
(Unit: Thousand Yen)
Business model
Initial(Initial revenue)

Q1 FY2021(From October 1, 2020
to December 31, 2020

Q1 FY2022(From October 1, 2021
to December 31, 2021

Rate of change(%)

876,426

1,484,676

69.4

Stock
(Fixed revenue)
Fee(Transaction processing
revenue)
Spread(Merchant acquiring service
revenue)

1,522,927

1,851,185

21.6

2,559,395

3,149,958

23.1

4,808,382

5,371,946

11.7

Total

9,767,132

11,857,766

21.4

―4―

b. Operating profit
Operating profit reached ¥4,116 mil, up by 31.8% YoY, making steady progress towards achieving the full year
earnings forecast for the Fiscal Year ending September 2022.
By segment, Payment Processing Business segment profit (operating profit) was ¥4,260 mil, up 24.9% YoY;
Money Service Business segment profit (operating profit) stood at ¥630 mil, up 28.9% YoY; Payment
Enhancement Business segment profit (operating operating) of ¥51 mil (up 156.3% YoY).
For details please refer to page 5 of “② Results by segment” of the “(1) Consolidated operating results”
of “1. Qualitative Information on Consolidated Financial Statements for the Quarter”.
c. Profit before income taxes
Pre-tax profit reached ¥4,299 mil., up 41.5% YoY. The reason the pre-tax profit growth rate of 41.5% YoY ishigher than the operating profit growth rate of 31.8% YoY, is due to gains on investment partnerships of ¥152milthat increased the financial income to ¥215mil.
② Results by segment
Performance by reportable segment is explained below.
(Unit: Thousand yen)
Q1 FY2021(From October 1, 2020
to December 31, 2020

Q1 FY2022(From October 1, 2021
to December 31, 2021

Rate of change(%)

Payment Processing Business
Revenue
Operating profit

7,122,180
3,411,105

8,866,543
4,260,112

24.5
24.9

Money Service Business
Revenue
Operating profit

2,483,398
489,533

2,772,849
630,956

11.7
28.9

163,822
20,014

225,809
51,29737.8
156.3

Adjustments
Revenue
Operating profit (△=loss)△2,268△797,953△7,436△825,988

－
－

Total
Revenue
Operating profit

9,767,132
3,122,699

11,857,766
4,116,377

21.4
31.8

Segment

Payment Enhancement Business
Revenue
Operating profit―5―

a. Payment Processing Business
The main focus areas of the Payment Processing Business are payment processing services of online billing,recurring billing, and offline payments, as well as expanding support services to financial institutions and financial
service providers. In the online billing and recurring billing domain, we focused our efforts to acquire large andmedium-to-small sized merchants across various industries and expand our services given the backdrop of thesteadily expanding EC market.
The impact from the COVID-19 contagion was limited during the first quarter under review, similar to the firstquarter of the previous fiscal year. In the online billing and recurring billing domain, micropayments increased
from the rising adoption of cashless payment and E-commerce (EC) usage, and transactions increased for digitalcontent, public utilities and taxes on the back of continued COVID-19 related nesting demand.
In the offline domain during the first quarter under review, both transaction volume and value increased inmerchant sectors such as leisure-related and restaurant sectors which were adversely impacted from the decline
in consumption. This increase is thanks to the lifting of State of Emergency and Priority Measures for Contagion
Prevention which had been in place intermittently, although some offline stores still remain vulnerable to the
COVID-19 impact. In addition to this, transaction volume, value, and initial revenue for the segment increased
from strong payment terminal sales, especially the increase in next generation payment platform “stera terminals”
sales, due to the expansion of offline cashless payment market – which we think is a safer payment method
without the need to physically touch bank notes and coins. Furthermore, steady progress was made in projectorders related to the Unattended Market such as ticket machines and fare adjustment machines, which is one of
the target markets.
As a result, transaction volume (including GMO Payment After Delivery which is classified in the Money Service
Business segment) grew 33.3% YoY, transaction value grew 33.8% YoY. Segment revenue was ¥8,866 mil, up
24.5% YoY and segment profit (operating profit) was ¥4,260 mil up 24.9% YoY.

b. Money Service Business
Money Service Business (MSB) consists of Early Payment Service to help merchants improve their cash flow byreceiving sales proceeds earlier according to the merchant’s cash cycle; Transaction Lending Service to lend
growth capital to merchants based on their payment and other related data; Lending Service to overseas
operators; Remittance Service; Instant Salary byGMO, a salary prepayment service, and GMO Payment After
Delivery provided by a consolidated subsidiary GMO Payment Service, Inc.
In this first quarter under review, segment revenue and profit increased from the contribution of strong Early
Payment Service on the back of growth in Payment Processing Business segment, and Lending service tooverseas operators that made progress in securing new potential customers to generate stable revenues going
forward. Growth rate of GMO Payment After Delivery, a BNPL service, decelerated although transactions
increased, from hard comps against strong nesting demand last year. Similarly, Remittance service revenue
growth rate decelerated although transactions grew, due to hard comps against last year’s COVID-19-driven ticket
refund demand.
As a result, segment revenue reached ¥2,772 mil, up 11.7% YoY and segment profit (operating profit) reached¥630 mil, up 28.9% YoY.

―6―

c. Payment Enhancement Business
Payment Enhancement Business comprises of online advertising service which provides analytics andadvertisement management service based on transactional trends to support our merchants’ growth, and “Medical
Kakumei byGMO,” a reservation management system to enable operational efficiency at the reception counters,
offered exclusively to medical institutions by our consolidated subsidiary GMO Medical Reservations Technology
Co. Ltd.
GMO Medical Reservations Technology Co. Ltd. offers a smartphone-based app to make reservations, fill in
medical questionnaires and complete the reception and payment, as well as manage patient registration cards
on the smartphone for multiple medical institutions that implement this service. In the first quarter under review,
this service’ revenue increased 92.5% YoY from the heightened demand due to COVID-19. In addition, revenues
from online advertising service and SSL coupon also grew, contributing to the segment’s revenue growth.
As a result of the above, segment revenue was ¥225 mil, up 37.8% YoY and segment profit (operating profit) was¥51 mil, up 156.3% YoY.

Please see below for the table of the major businesses and companies providing these businesses by segment.
Segment
Payment
Processing
Business

Major service

Major companies of the service

Payment processing service(Online billing and recurring billing)
Payment processing service(Offline)

GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)
GMO Financial Gate, Inc. (consolidated subsidiary)
GMO Payment Service, Inc. (consolidated

GMO Payment After Delivery

Money Service
Business

Remittance service

Transaction lending
Overseas Lending

Online Advertising

GMO Epsilon, Inc. (consolidated subsidiary)
GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)

GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)
GMO Payment Gateway, Inc.

Enhancement
Business

GMO Payment Gateway, Inc.

GMO Payment Gateway, Inc.

Early Payment service
Payment

subsidiary)

Medical Kakumei byGMO―7―

GMO Medical Reservations Technology Co., Ltd.
(consolidated subsidiary)(2) Status of consolidated financial position
Assets, liabilities and net assets
a. Assets
Total assets at the end of the consolidated first quarter under review increased by ¥28,541 mil from the end of theprevious fiscal year end to reach ¥243,997 mil. This is mainly due to an increase in advances paid of ¥5,305 mil,an increase in accrued revenues of ¥7,184 mil, and deposits to subsidiaries and affiliates of ¥16,500 mil.
The Group has ¥4,800 mil deposits to subsidiaries and affiliated companies included in the balance of cash andcash equivalents at the end of the consolidated first quarter under review, as stated in ➀ Cash and cash
equivalents” of (6) Notes regarding condensed consolidated financial statements. Together with the ¥18,500 milof deposits to subsidiaries and affiliated companies stated in the condensed consolidated balance sheet, the totalbalance of the deposits to subsidiaries and affiliated companies stands at ¥23,300 mil. These deposits are GMO
Internet’s Group-wide cash on hand that is deposited under the cash management system (CMS) implemented
and managed by GMO Internet. This allows the Group to withdraw necessary funds without the need to wait until
the preset CMS repayment date, by registering a request after taking into account the number of days requiredfor processing the application.

b. Liabilities
Balance of liabilities at the end of the consolidated first quarter under review stood at ¥188,076 mil, an increaseof ¥30,441 mil from the end of the previous consolidated fiscal year, mainly due to an increase in accrued
expenses of ¥7,035 mil, an increase in deposits received of ¥21,806 mil, and an increase in borrowings of ¥3,366
mil.

c. Equity
Equity balance at the end of the consolidated first quarter under review was ¥55,920 mil, a decrease of ¥1,899
mil from the end of the previous consolidated fiscal year. This was mainly due recording the quarterly profit of¥2,582 mil which was offset by the decline in retained earnings of ¥4,474 mil from dividend payouts.

②

Status of consolidated cash flows
Cash and cash equivalents (“funds”) at the end of the consolidated first quarter under review decreased by ¥2,064
mil versus the balance at the start of the term, to reach ¥102,459 mil. The state of cash flow over the first quarter
under review is discussed below.

a. Cash flow from operating activities
Net funds provided by operating activities during the consolidated first quarter under review amounted to ¥15,996
mil, which compares to ¥3,026 mil in net funds provided in the same period of the previous year. This resulted
from cash outflows from (i) an increase in advances paid of ¥5,305 mil, (ii) an increase in accrued revenues of¥7,848 mil, (iii) decrease in other current liabilities of ¥1,020 mil, (iv) incomes tax payments of ¥2,812 mil, which
was offset by cash inflows of (i) profit before tax of ¥4,299 mil, (ii) increase in accrued expenses of ¥7,050 mil,and (iii) increase in deposits received of ¥21,713 mil.

b. Cash flow from investing activities
Net funds used by investing activities during the consolidated first quarter under review totaled ¥16,840 mil, which
compares to a net funds provided of ¥3,789 mil in the same period of the previous year. This is due to cash
outflows from payment into deposits to subsidiaries and affiliated companies of ¥16,500 mil.

―8―

c. Cash flow from financing activities
Net funds used by financing activities over the consolidated first quarter under review was ¥1,338 mil, which
compares to net funds used of ¥3,184 mil in the same period of the previous year. This is due to cash inflows
from the net increase in short term borrowings of ¥3,500 mil which was offset by net outflows from dividend
payouts of ¥4,449 mil.

(3) Review of consolidated earnings forecasts and other forecasts
The Group’s core business is positioned within the E-commerce (EC) market in Japan, and Japan’s B2C EC market
for merchandizing continues to grow very rapidly, helped by favorable externalities such as increased penetration ofsmartphones and logistic/distribution industry reforms. In addition, online migration progressed for payments related
to daily life such as non-merchandise services, public utilities, taxes and public dues and medical expenses as online
consumption takes roots under the ‘new normal’ lifestyles brought about by COVID-19. The broader EC market,
which is our addressable market, is also expanding from the widening scope of EC market driven by the online
migration of B2B and C2C transactions. The consolidated subsidiary GMO Financial Gate, Inc., which addresses theoffline market, is contributing to expand the Group’s scope of business by capturing business opportunities emerging
from the acceleration of cashless adoption of various payments methods including credits cards in the offline domain.
The business environment for the fiscal year ending September 2022 is showing that economic activity continues
despite the resurgence of COVID-19. GMO-PG group’s business is characterized by its resiliency to macro-economic
fluctuations due to the diverse exposure to merchants across various industries and the favorable trend of cashlessand online migration of payments. Hence, the impact from COVID-19 is minimal as of this writing. Revenue expansion
is expected in all reportable segments from pursuing the priority initiatives of acquiring large and high-growthmerchants, deepening penetration into financial institutions, winning orders for large projects, rolling out of DX
platforms and, the next generation payment platform stera.
The earnings forecast for fiscal year ending September 2022 is revenue of ¥50,000 mil (up 20.0% YoY), operating
profit of ¥16,234 mil (up 25.0% YoY), pre-tax profit of ¥15,538 mil (up 17.0% YoY), net profit of ¥10,048 mil (up 11.9%
YoY) and profit attributable to owners of parent of ¥9,860 mil (up 11.8% YoY).

―9―

2. Condensed Consolidated Financial Statements and Major Notes(1) Condensed consolidated balance sheet(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
(December 31, 2021)

Notes

End of previous consolidated
fiscal year
(September 30, 2021)

Cash and cash equivalents➀

104,523,965

102,459,336

Operating and other receivables②

10,308,474

10,466,150

Advances paid

45,321,043

50,626,493

Accrued revenue

24,893,665

32,077,676

Inventories

1,664,548

2,183,284

2,000,000

18,500,000

Other financial assets

455,403496,409

Other current assets

335,983

499,724

189,503,084

217,309,076

Property, plant and equipment

3,948,522

3,849,334

Goodwill and other intangible assets
Investments accounted for using equity
methodOperating and other payables

5,521,782

5,786,044

4,593,784

4,655,275

4,231,100

4,610,915

Other financial assets

6,005,805

6,135,470

Deferred Tax Assets

1,529,043

1,562,687

AssetsCurrent assets

Deposits to subsidiaries and affiliates③

Total current assets
Non-current assets②

Other non-current assets
Total non-current assets
Total assets―10―

122,769

89,072

25,952,808

26,688,799

215,455,892

243,997,876

NotesEnd of previous consolidated
fiscal year
(September 30, 2021)(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
(December 31, 2021)

Liabilities and equity
Liabilities
Current liabilities
Operating and other payables

5,230,945

5,881,894

Accrued expenses

20,537,297

27,572,353

Deposits received

84,593,904

106,400,118

Borrowings

15,138,420

18,507,020

Other financial liabilities

621,363

617,555

Income taxes payable, etc.

2,602,652

1,395,762

Provisions

327,157

326,736

Other current liabilities

3,662,794

2,611,005

Total current liabilities

132,714,534

163,312,446

19,593,627

19,614,821

Non-current liabilities
Corporate bonds
Borrowings

20,095

18,3402,889,479

2,737,086

Provision

130,180130,264

Deferred tax liabilities

78,14873,429Other financial liabilities

Other non-current liabilities

2,209,447

2,190,550

Total non-current liabilities

24,920,978

24,764,492

157,635,512

188,076,938

Capital stock

13,323,135

13,323,135

Capital surplus

15,191,927

15,204,220

Retained earnings

26,546,151

24,588,690

Treasury stock△1,152,444△1,153,163

1,937,175

2,008,101

55,845,946

53,970,984

1,974,433

1,949,952

57,820,379

55,920,937

215,455,892

243,997,876

Total liabilities
EquityOther items of equity
Total equity attributable toowners of parent
Non-controlling interests
Total equity
Total liabilities and equity―11―(2) Condensed consolidated statement of income and consolidated statement of comprehensive income
Condensed consolidated statement of income

Notes

Q1 FY2021(From October 1, 2020
to December 31, 2020)

Revenue(of which, interest income※)
Cost of revenue
Gross profit
Other income
Selling, general and administrative
expenses
Other expense(Unit: Thousand yen)
Q1 FY2022(From October 1, 2021
to December 31, 2021)

9,767,132
2,090,461△2,817,258

11,857,766
2,296,880△3,684,580

6,949,873

8,173,185

49,757

60,102△3,872,313△4,108,462△4,618△8,448Operating profit

3,122,699

4,116,377

Financial income

7,812

215,922

Financial expense△69,946△55,762

Equity method investment gains or loss

△21,90922,484

Profit before income taxes

3,038,656

4,299,022△1,289,469△1,716,521

1,749,186

2,582,500

1,704,968

2,517,248

44,21765,252

1,749,186

2,582,500

Basic earnings per share

23.16

33.19

Diluted earnings per share

22.52

32.90

Income tax expenses
Quarterly profit
Profit attributable to
Owners of parent
Non-controlling interests
Quarterly Profit
Earnings per share (Yen/share)（※）The figure present the interest income calculated using the effective interest method as per IFRS 9 Financial
Instruments.

―12―

Condensed consolidated statement of comprehensive income

Notes

Q1 FY2021(From October 1, 2020
to December 31, 2020)

Profit(Unit: Thousand yen)
Q1 FY2022(From October 1, 2021
to December 31, 2021)

1,749,186

2,582,500△463,097△142,642

Shares of other comprehensive incomeof equity method affiliates

316,844

44,872

Total of Items that will not be reclassified
to profit or loss

△146,252△97,769△67,340

194,052△31,264△25,839△98,604

168,213△244,857

70,443

1,504,328

2,652,944

1,461,871

2,588,192

42,45764,752

1,504,328

2,652,944

Other comprehensive income
Items that will not be reclassified to profit orloss
Fair value of financial assets measured
through other comprehensive income

Items that will be reclassified to profit or loss
Exchange differences on translation offoreign operations
Shares of other comprehensive incomeof equity method affiliates
Total of items that will be reclassified to
profit or loss
Other comprehensive income after
income taxes
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests
Total

―13―

(3) Condensed consolidated statement of changes in equity
First quarter of the previous consolidated fiscal year (From October 1, 2020 to December 31, 2020)(Unit: Thousand yen)
Total equity
Other
NonCapital
Capital Retained Treasury
attributable
Total
Notes
items ofcontrollingstock
surplus earnings
stock
to owners
Equityequityinterestsof parent
Balance as of October 1,
4,712,900 5,675,561 20,725,465 △1,149,341 1,769,560 31,734,145 1,719,369 33,453,515
2020
1,704,968
44,217 1,749,186－－ 1,704,968－－
Quarterly Profit
Other
comprehensive－－－－ △243,097△243,097△1,759 △244,857
incomeQuarterly comprehensive
1,461,871
42,457 1,504,328－－ 1,704,968－ △243,097
incomePurchase of treasury－－－△1,345－△1,345－△1,345stock－－ △3,826,483－－ △3,826,483－ △3,826,483
Dividends
Dividends paid to non－
－
－
－
－
－
△63,671△63,671
controlling interests
Conversion of convertible
274,290
268,699542,989
542,989－－－－bond-type bonds withstock acquisition rights
Transfer from other items
330,624－－－ △330,624－－－
of equity to retained
earnings
Share-based payment
26,971
26,943
26,943－－－△28－
transaction
Changes in the interest in
22,44812,135－△10,313－－－△10,313
controlled subsidiary
Change in associates’’35,32935,32935,329－－－－－interest
incontrolledsubsidiary
Total transactions with
274,290
320,686 △3,495,859△1,345 △330,652 △3,232,880△41,222 △3,274,103
ownersBalance as of December
4,987,190 5,996,247 18,934,575 △1,150,687 1,195,810 29,963,136 1,720,604 31,683,740
31, 2020
First quarter of the current consolidated fiscal year (From October 1, 2021 to December 31, 2021)(Unit: Thousand yen)
Total equity
Other
NonCapital
Capital Retained Treasury
attributable
Notes
items ofcontrolling Total Equity
stock
surplus earnings
stock
to owners
equityinterestsof parent
Balance as of October 1,
13,323,135 15,191,927 26,546,151 △1,152,444 1,937,175 55,845,946 1,974,433 57,820,379
2021
2,517,248
65,2522,582,500－－ 2,517,248－－
Quarterly Profit
Other comprehensive
70,94370,94370,443－－－－△499
incomeQuarterly comprehensive
70,943
2,588,192
64,7522,652,944－－ 2,517,248－
incomePurchase of treasury
－
－
－
△718
－
△718
－
△718
stock
－
－ △4,474,710－－ △4,474,710－ △4,474,710
Dividends
Dividends paid to non－
－
－
－
－
－
△89,232△89,232
controlling interests
Share-based payment
22,293
22,27622,276－－－△17－transaction
Changes in the interest in－△10,001－－－△10,001－△10,001
controlled subsidiary
Total transactions with
12,292 △4,474,710－△718△17 △4,463,153△89,232 △4,552,386
ownersBalance as of December
13,323,135 15,204,220 24,588,690 △1,153,163 2,008,101 53,970,984 1,949,952 55,920,937
31, 2021―14―

(4) Condensed consolidated statement of cash flows

Notes

Q1 FY2021(From October 1, 2020
to December 31, 2020)

Net cash provided by (used in) operating
activities
Profit before income taxes(Unit: Thousand yen)
Q1 FY2022(From October 1, 2021
to December 31, 2021)

3,038,656

4,299,022

Depreciation & Amortization

445,134

494,477

Financial income and expense
Equity method investment gain/loss(△=increase)
Increase/decrease in inventories(△=increase)
Increase/decrease in operating andother receivables (△=increase)
In/Decrease in advances paid(△=increase)
Accrued revenues (△=increase)
In/Decrease in operating payables(△=decrease)
In/Decrease in accrued expenses(△=decrease)
In/Decrease in deposits received(△=decrease)
In/Decreaseinothercurrent
liabilities(△=decrease)
Other

62,134△160,160

21,909△22,484△362,341△518,736

382,960△491,156△13,332,440△5,305,449△5,264,412△7,848,449

1,069,054

650,632

5,009,381

7,050,179

15,494,512

21,713,802△783,490△1,020,045△32,146△31,176

5,748,912

18,810,455

7,812

19,662△33,678△21,333

Income taxes paid
Net cash provided by (used in) operating
activities
Net cash provided by (used in) investing
activities
Purchase of property, plants andequipment
Purchase of intangible assets△2,696,454△2,812,545

3,026,591

15,996,239△46,012△111,471△340,758△629,233

Purchase of investment securities
Proceeds from sale of investment
securities
Proceeds from redemption of
investments partnerships
Payments into deposits to
subsidiaries and affiliates
Proceeds from withdrawal of
deposits to subsidiaries and affiliates
Purchase of other financial assets
Proceeds from sales of otherfinancial assets
OthersNet cash provided by (used in) investing
activities△731△168,096

489,922668,520

29,96020,775△2,000,000△16,500,000

5,000,000

－

△67

△201

700,164

6,770△42,866△127,963

3,789,610△16,840,900

SubtotalInterest and dividends received
Interest paid

―15―

NotesQ1 FY2021(From October 1, 2020
to December 31, 2020)

Net cash provided by (used in) financing
activities
In/Decrease in short-term borrowings(△=decrease)
Repayment of long-term borrowings
Dividends paid
Dividends paid to non-controllinginterests
Capital contributions from noncontrolling interests
Other
Net cash provided by (used in) financing
activities
Effect of exchange rate changes on cash
and cash equivalents
Increase and decrease in cash and cash
equivalents (△=decrease)
Balance of cash and cash equivalents atthe beginning of the period
Cash and cash equivalents at the end of
period(Unit: Thousand yen)
Q1 FY2022(From October 1, 2021
to December 31, 2021)

1,000,000

3,500,000△200,100△133,155△3,797,895△4,449,301△63,671△89,232

26,478－△149,247△167,050△3,184,435△1,338,739△32,109

118,7723,599,656△2,064,628①

95,830,807

104,523,965①

99,430,463

102,459,336―16―

(5) Notes regarding the going concern assumptions
N/A(6) Notes regarding condensed consolidated financial statements①

Cash and cash equivalents
Breakdown of cash and cash equivalents are as follows.
End of previous consolidated
fiscal year
(September 30, 2021)(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
December 31, 2021)

Cash and cash equivalents

81,593,965

97,659,336

Deposits toand affiliates

22,930,000

4,800,000

104,523,965

102,459,336

subsidiaries

Total
②

Operating and other receivables
Breakdown of operating and other receivables are as follows.
End of previous consolidated
fiscal year
(September 30, 2021)(Unit: Thousand yen)
End of Q1 of current
consolidated fiscal year
December 31, 2021)

Trade and other receivables

5,740,246

6,616,807

Operating loans

8,846,384

8,495,014

92,408103,131△139,464△137,887

Total

14,539,574

15,077,065

Current assets

10,308,474

10,466,150

Non-current assets

4,231,100

4,610,915

14,539,574

15,077,065

Other
Allowanceaccounts

fordoubtful

Total③

Deposits to subsidiaries and affiliates
Our deposits to subsidiaries and affiliates are the deposits under the CMS (cash management
system) of GMO Internet Group.

―17―