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.

October 25, 2022

Non-consolidated Financial Results
for the Fiscal Year Ended September 30, 2022
<under Japanese GAAP>
Company name:
Listing:
Stock code:
URL:
Representative:
Inquiries:

Makuake, Inc.
Tokyo Stock Exchange4479
http://www.makuake.com/
Ryotaro Nakayama, CEO
Yuki Tamura, Corporate Officer and General Manager of Business Management
DivisionTEL:+81-3-6328-4038 (from overseas)
Scheduled date of annual general meeting of shareholders:
December 8, 2022
Scheduled date to commence dividend payments:–
Scheduled date to file annual securities report:
December 9, 2022
Preparation of supplementary materials for financial results:
Yes
Holding of financial results presentation meeting:
Yes(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Performance for the fiscal year ended September 30, 2022 (from October 1, 2021 to September 30,
2022)(1) Operating results(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ended
September 30, 2022
September 30, 2021

Fiscal year ended
September 30, 2022
September 30, 2021
Reference:

Operating profit

Millions of yen

4,206
4,621

% Millions of yen

(9.0)
43.3

(324)
329

Ordinary profit% Millions of yen–(35.5)(302)
326

Profit% Millions of yen–(36.3)(1,347)246%–(33.3)

Basic earnings per
share

Diluted earnings
per share

Return on equity

Ordinary
profit/total assets

Yen

Yen

%

%

%

(107.55)
20.44

–
19.58

(21.8)
5.2

(3.3)
4.0

(7.7)
7.1

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended September 30, 2022:¥– million
For the fiscal year ended September 30, 2021:¥– million

Operatingprofit/net sales

(2) Financial position
Total assets
As of
September 30, 2022
September 30, 2021
Reference:

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

8,255
10,331

5,576
6,873

67.0
66.2

439.84551.56

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodEquityAs of September 30, 2022
As of September 30, 2021

¥5,528 million¥6,841 million(3) Cash flows
Cash flows fromoperating activities
Fiscal year ended
September 30, 2022
September 30, 2021

Cash flows frominvesting activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

(814)
151

(488)
(586)

33
3,915

7,321
8,591

2. Cash dividends
Annual dividends

Total cash
dividends(Total)Firstquarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Yen

Yen

Yen

Yen

Yen Millions of yen

Total

Dividend
payout ratio

Ratio ofdividends to
net assets%%

Fiscal year ended
September 30, 2021

–

0.00

–

0.00

0.00

–

–

–

Fiscal year ended
September 30, 2022

–

0.00

–

0.00

0.00

–

–

–

Fiscal year ending
September 30, 2023
(Forecast)

–

0.00

–

0.00

0.00

–

3. Earnings forecasts for the fiscal year ending September 30, 2023
(from October 1, 2022 to September 30, 2023)
Net sales

Fiscal year ending
September 30, 2023

(Percentages indicate year-on-year changes.)
Basic
Ordinary profit
Profitearnings per
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

3,840

(8.7)

(880)

–

(880)

–

(890)

–

(70.81)

Note: As the Company manages its operations on an annual basis, earnings forecasts for the first six months are omitted.
For further details, please refer to the attached materials, “(4) Future outlook” under “1. Overview of operating results
and others.”

* Notes(1) 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
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022

12,568,700 shares

As of September 30, 2021

12,404,700 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2022

130 shares

As of September 30, 2021

87 shares(iii) Average number of shares during the period
For the fiscal year ended September 30, 2022

12,528,045 shares

For the fiscal year ended September 30, 2021

12,068,819 shares* Financial results reports are exempt from audits conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
These statements do not purport that the Company pledges to realize such statements. Actual businessand other results may differ substantially due to various factors.

Makuake, Inc. (4479)

Attached materials
Index
1. Overview of operating results and others ................................................................................................. 2(1) Overview of operating results for the fiscal year ............................................................................... 2(2) Overview of financial position for the fiscal year .............................................................................. 3(3) Overview of cash flows for the fiscal year ......................................................................................... 3(4) Future outlook .................................................................................................................................... 4(5) Significant events regarding premise of going concern ..................................................................... 4
2. Basic rationale for selection of accounting standards ............................................................................... 5
3. Financial statements and significant notes thereto .................................................................................... 6(1) Balance sheet ...................................................................................................................................... 6(2) Statement of income ........................................................................................................................... 8(3) Statement of changes in equity ........................................................................................................... 9(4) Statement of cash flows .................................................................................................................... 11(5) Notes to financial statements ............................................................................................................ 12
Notes on premise of going concern .................................................................................................. 12
Changes in accounting policies ........................................................................................................ 12
Profit or loss of entities accounted for using equity method ............................................................ 12
Segment information ........................................................................................................................ 12
Per share information ....................................................................................................................... 13
Significant subsequent events .......................................................................................................... 13-1-

Makuake, Inc. (4479)

1. Overview of operating results and others(1) Overview of operating results for the fiscal year
Based on its vision of “Create a world where worthy things can come to be, grow and endure,” themission of Makuake, Inc. (the Company) is to “Connect the world through the creation of the ‘new.’ ”
We operate the Makuake service, a “support” pre-order platform to connect project owners(Businesses) who are providing something new to the world with supporters (Consumers) who
purchase new items and experiences based on their knowledge of the background and the ideas of the
project owners.
As ancillary services, we also provide Makuake Incubation Studio, which supports the generation of
new businesses that leverage research and development technology owned by companies; agency
operations for the distribution of advertisements to facilitate the growth of “support” pre-order value at
Makuake; Makuake STORE, which enables continued sales on e-commerce sites even after projects
have ended; Makuake Global, which accepts “support” pre-orders from overseas; “Support” Pre-orderService for Buyers, which enables buyers in Japan to watch how new products that have just launched
are selling and to stock them on the internet; Makuake SHOP, which works with partner companies in avariety of formats nationwide to enable products launched on Makuake to be displayed and sold in realworld stores.
During the fiscal year ended September 30, 2022 (from October 1, 2021 to September 30, 2022), theJapanese economy witnessed the increasing normalization of economic activities based on the stance oftaking every possible measure toward preventing the spread of COVID-19 backed by the rollout of thevaccines both in Japan and overseas, and expectations have been high for an economic recovery. In
March 2022, the focused measures to prevent the proliferation of COVID-19 were lifted and personal
consumption involving travel and dining has been on a gradual recovery trend, while border controls
have also been lifted in stages toward the resumption of cross-border travel. Meanwhile, uncertainty
toward the future remained, reflecting the increasing prices of raw materials caused by global monetary
tightening and the prolonged situation in Ukraine, and the continuing rise in commodity prices due tosupply constraints.
Our business is affected by the e-commerce market for debuting new products and the e-commercemarket for pre-ordering new services. During the period from 2020 to 2021, demand in these markets
grew rapidly due to changes in lifestyles and working styles, which emerged as a result of the spread of
COVID-19, and subsequently, with the normalization of economic activities in Japan, demand has
calmed down but continues to grow in a more stable and consistent manner. Therefore, going forward,
we believe that the e-commerce market for debuting new products and services has extraordinarily highgrowth potential.
Under these conditions, during the first half of the fiscal year under review, in response to the decline inuser experience in relation to finding new products and services due to the pandemic-driven increase in
the workload for curators and the rise in the number of new projects and the issue of the declining trend
in the conversion rate (CVR), which expresses how well owners and supporters are matched, we
focused our efforts on the development of new functionality for owners and supporters, in addition tostrengthening the hiring of curators and screening staff and building a new organizational structure inboth divisions to improve operations. In addition, during the second half of the fiscal year, to accelerate
growth in the next fiscal year and beyond, rather than focusing on measures with a short-term
perspective that merely aims to increase revenue in the current fiscal year, we have been deliberating
new support measures to encourage challenges by more owners and expand “support” pre-orders bysupporters through a Committee of External Experts comprising owners, supporters, and experts in awide range of fields including manufacturing, the SDGs, and the economy, for the purpose of building
a new training system mainly for the staff that we hired in the first half of the fiscal year and providing
an environment, namely a platform that owners and supporters can use with greater confidence. As aresult of these measures, the number of new project publications increased by 5.1% year on year to
8,314 and the number of access UUs increased by 19.9% year on year to 53,180 thousand.
On the other hand, from the second half of the fiscal year, with the normalization of economic activities
underway, the effects of economic reopening began to be felt, and as offline product distribution
channels and consumption increased, the trend of decreasing platform usage by owners and decreasing-2-

Makuake, Inc. (4479)“support” pre-orders has gradually become more marked. As a result, the CVR, which was on an
improving trend through the third quarter declined in the fourth quarter by 1.3 percentage points year
on year to 3.1% and total “support” pre-order value declined by 8.2% year on year to ¥19,776,217
thousand.
After conducting a comparative review of our future cash flows, and carrying amounts and remaining
useful life of non-current assets, we recorded impairment losses of ¥1,009,307 thousand.
As a result, for the fiscal year under review, the Company recorded net sales of ¥4,206,839 thousand(down 9.0% year on year), an operating loss of ¥324,080 thousand (compared to an operating profit of¥329,101 thousand in the previous fiscal year), an ordinary loss of ¥302,562 thousand (compared to an
ordinary profit of ¥326,089 thousand in the previous fiscal year) and loss of ¥1,347,356 thousand(compared to a profit of ¥246,642 thousand in the previous fiscal year).
(2) Overview of financial position for the fiscal year
AssetsAt the end of the fiscal year under review, total assets decreased by ¥2,076,413 thousand from theprevious fiscal year-end to ¥8,255,134 thousand.
Current assets decreased by ¥1,377,034 thousand to ¥7,892,528 thousand. The main components
included decreases of ¥756,435 thousand in cash and deposits and ¥513,020 thousand in cash
segregated as deposits.
Non-current assets decreased by ¥687,867 thousand to ¥353,719 thousand. The main components
included a decrease of ¥410,908 thousand in software.
Liabilities
At the end of the fiscal year under review, liabilities decreased by ¥779,429 thousand from the previous
fiscal year-end to ¥2,678,784 thousand.
Current liabilities decreased by ¥798,920 thousand to ¥2,616,440 thousand. The main components
included a decrease of ¥514,069 thousand in deposits received.
Non-current liabilities increased by ¥19,490 thousand to ¥62,344 thousand. This was due to an increaseof ¥18,169 thousand in provision for continuous services benefits.
Net assets
At the end of the fiscal year under review, net assets decreased by ¥1,296,983 thousand from theprevious fiscal year-end to ¥5,576,349 thousand. This was caused by a decrease of ¥1,347,356
thousand in retained earnings due to the recording of loss.
(3) Overview of cash flows for the fiscal year
The balance of cash and cash equivalents (“cash”) at the end of the fiscal year under review amounted
to ¥7,321,798 thousand, down ¥1,269,455 thousand compared with the previous fiscal year-end. The
respective cash flow positions and the factors thereof in the fiscal year under review are as follows.
Cash flows from operating activities
Net cash used in operating activities was ¥814,559 thousand (¥151,414 thousand was provided in theprevious fiscal year). This was primarily due to loss before income taxes of ¥1,264,138 thousand, adecrease in deposits received of ¥514,069 thousand, a decrease in accounts payable - other of ¥203,236
thousand, and impairment losses of ¥1,009,307 thousand.

-3-

Makuake, Inc. (4479)

Cash flows from investing activities
Net cash used in investing activities was ¥488,554 thousand (¥586,413 thousand was used in theprevious fiscal year). This was primarily due to purchase of intangible assets of ¥501,435 thousand.
Cash flows from financing activities
Net cash provided by financing activities was ¥33,658 thousand (¥3,915,091 thousand was provided in
the previous fiscal year). This was primarily due to proceeds from issuance of shares of ¥33,784
thousand.
(4) Future outlook
For the fiscal year ending September 30, 2023, the Company expects net sales to decline 8.7% from thefiscal year under review to ¥3,840 million. We forecast operating loss of ¥880 million, ordinary loss of¥880 million, and loss of ¥890 million. Interim earnings forecasts have not been disclosed due to thelack of visibility regarding the impact of the economic reopening accompanying the normalization of
economic activities and the effects of the depreciating yen, the soaring prices of raw materials and otherfactors in Japan and overseas.
Furthermore, the above-mentioned earnings forecasts are based on information available at this time,and actual results may differ substantially due to various factors.
(5) Significant events regarding premise of going concern
No applicable items.

-4-

Makuake, Inc. (4479)

2. Basic rationale for selection of accounting standards
The Company adopts the generally accepted accounting standards in Japan (Japanese GAAP), taking into
account the year-on-year comparability and intercompany comparability of financial statements.

-5-

Makuake, Inc. (4479)

Financial statements and significant notes thereto(1) Balance sheet(Thousands of yen)
As of September 30, 2021

As of September 30, 2022

5,949,943
2,641,311
551,330
79,58554,674(7,282)
9,269,563

5,193,507
2,128,290
339,328
121,814
116,869(7,282)
7,892,528

39,169(10,649)
28,52032,236(17,636)
14,59943,11915,214(15,214)–
24,429(24,429)––

17,333410,908
165,632
593,873––––

138,733––
192,351
73,5087,537(7,537)404,594
1,041,587

153,984
330
8,073
191,331–7,537(7,537)353,719
353,719

20,396
20,396
10,331,547

8,886
8,886
8,255,134

AssetsCurrent assets
Cash and deposits
Cash segregated as deposits
Accounts receivable - trade
Prepaid expenses
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Software in progress
Total intangible assets
Investments and other assets
Investment securities
Investments in capital
Long-term prepaid expenses
Leasehold and guarantee deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Share issuance costs
Total deferred assets
Total assets-6-

Makuake, Inc. (4479)(Thousands of yen)
As of September 30, 2021

As of September 30, 2022

579,528
61,288–72,2862,652,462
49,795
3,415,360

381,679
81,027775
14,5652,138,393–
2,616,440

337
42,51642,853
3,458,214

1,658
60,68562,344
2,678,784

3,103,387

3,120,279

3,103,387
3,103,387

3,120,279
3,120,279

635,591
635,591(499)
6,841,867
31,464
6,873,332
10,331,547(711,764)(711,764)(625)
5,528,170
48,1795,576,349
8,255,134

Liabilities
Current liabilities
Accounts payable - otherAccrued expenses
Advances received
Income taxes payable
Deposits received
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Provision for continuous services benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings
Other retained earnings
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Share acquisition rights
Total net assets
Total liabilities and net assets-7-

Makuake, Inc. (4479)(2) Statement of income(Thousands of yen)
Fiscal year ended
September 30, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Lecture's fee income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Amortization of share issuance costs
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit (loss)
Gain on sale of investment securities
Total extraordinary income
Impairment losses
Loss on valuation of investment securities
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)-8-

Fiscal year ended
September 30, 2022

4,621,419
815,518
3,805,900
3,476,799
329,101

4,206,839
847,925
3,358,913
3,682,993(324,080)

0
–
7,645
–
606
8,252

2
17
9,398
20,744
2,916
33,079

9,549
1,447
266
11,264
326,089–––––
326,089
117,038(37,590)
79,447
246,642

11,510–51
11,561(302,562)
97,50097,5001,009,307
49,7681,059,076(1,264,138)
9,708
73,50883,217(1,347,356)

Makuake, Inc. (4479)(3) Statement of changes in equity
Fiscal year ended September 30, 2021
(Thousands of yen)
Shareholders’ equity
Capital surplus

Total net
assets

10,4882,673,017

LegalcapitalsurplusTotal
capitalsurplus1,136,847

1,136,847

1,136,847

388,949

1,937,792

1,937,792

1,937,792

3,875,585

3,875,585

24,30824,30824,30848,616

48,616

4,440

4,440

4,440

8,880

8,880

(384)

(384)

246,642

246,642

Total
retainedearnings

388,949

TreasurysharesTotalshareholders’equity(115)

2,662,529(384)

Profit (loss)
Net changes
in items otherthanshareholders’equityTotal changes
during period
Balance at endof period

ShareacquisitionrightsOtherretainedearnings
Retainedearnings
brought
forwardSharecapitalBalance at
beginning of
periodChanges during
periodIssuance of
new shares
Issuance of
new shares exercise ofshareacquisitionrightsIssuance of
new shares restricted
stock
Purchase oftreasurysharesRetained earnings

246,642

246,642

20,976

20,976

1,966,540

1,966,540

1,966,540

246,642

246,642(384)

4,179,338

20,9764,200,315

3,103,387

3,103,387

3,103,387

635,591

635,591(499)

6,841,867

31,464

6,873,332-9-

Makuake, Inc. (4479)

Fiscal year ended September 30, 2022
(Thousands of yen)
Shareholders’ equity
Capital surplus

LegalcapitalsurplusTotal
capitalsurplus3,103,387

3,103,387

3,103,387

635,591

16,892

16,892

16,892

SharecapitalBalance at
beginning of
periodChanges during
periodIssuance of
new shares exercise ofshareacquisitionrightsPurchase oftreasurysharesTotal
retainedearnings

635,591

TreasurysharesTotalshareholders’equity(499)

6,841,867(125)

Profit (loss)
Net changes
in items otherthanshareholders’equityTotal changes
during period
Balance at endof period

Retained earnings
Otherretainedearnings
Retainedearnings
brought
forward(1,347,356)(1,347,356)

ShareacquisitionrightsTotal net
assets31,464

6,873,332

33,78433,784

(125)

(125)

(1,347,356)(1,347,356)

16,714

16,714

16,892

16,892

16,892(1,347,356)(1,347,356)(125)(1,313,697)

16,714(1,296,983)

3,120,279

3,120,279

3,120,279(711,764)(711,764)(625)

5,528,170

48,1795,576,349- 10 -

Makuake, Inc. (4479)(4) Statement of cash flows(Thousands of yen)
Fiscal year ended
September 30, 2021
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for retirement benefits
Increase (decrease) provision for continuous services
benefits
Amortization of share issuance costs
Interest and dividend income
Decrease (increase) in trade receivables
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Increase (decrease) in advances received
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued expenses
Increase (decrease) in deposits received
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Income taxes refund
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 investment securities
Proceeds from sale of investment securities
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Payments for investments in capital
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from issuance of shares
Purchase of treasury shares
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting frommergerCash and cash equivalents at end of period- 11 -

Fiscal year ended
September 30, 2022

326,089
99,305
–
2,666
285
337

(1,264,138)
157,240
1,009,307
4,000
–
1,321

14,18018,1699,549–(21,011)–––(216,487)(16,531)306,858(49,972)(89,106)
366,163–148(214,897)
151,414

11,510(20)
212,002(97,500)
49,768775(203,236)
14,524(514,069)(57,660)(59,837)(717,842)
2
38(96,758)(814,559)(7,114)(306,265)(148,731)–(124,301)(21,516)(501,435)(80,020)
112,500(2,660)

–

4,907

–
(586,413)(330)(488,554)

3,915,475(384)
3,915,091
3,480,092
5,109,351

33,784(125)
33,658(1,269,455)
8,591,254

1,810

–

8,591,254

7,321,798

Makuake, Inc. (4479)(5) Notes to financial statements
Notes on premise of going concern
No applicable items.
Changes in accounting policies
Application of Accounting Standard for Revenue Recognition, etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No.
29, March 31, 2020) and relevant ASBJ regulations from the beginning of the fiscal year under review,
and it has recognized revenue at the time the control of promised goods or services is transferred to thecustomer at the amount expected to be received upon exchange of said goods or services.
The application of the Accounting Standard for Revenue Recognition and relevant ASBJ regulations issubject to the transitional treatment provided for in the proviso to paragraph 84 of the AccountingStandard for Revenue Recognition. The cumulative effect of the retrospective application, assuming the
new accounting policy had been applied to periods prior to the beginning of the fiscal year underreview was added to or deducted from the opening balance of retained earnings of the fiscal year underreview, and thus the new accounting policy was applied from such opening balance.
There is no effect on the financial statements and per share information.
Application of Accounting Standard for Fair Value Measurement, etc.
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement
No. 30, July 4, 2019) and relevant ASBJ regulations from the beginning of the fiscal year under review,
and it has applied the new accounting policy provided for by the Accounting Standard for Fair Value
Measurement, etc. prospectively in accordance with the transitional measures provided for in paragraph
19 of the Accounting Standard For Fair Value Measurement, and paragraph 44-2 of the “AccountingStandard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019).
There is no effect on the financial statements.
Profit or loss of entities accounted for using equity method(Thousands of yen)
Fiscal year ended
September 30, 2022

Fiscal year ended
September 30, 2021
Investments in associates–

40,000Investments if the equity method is applied–

39,331

Investment losses if the equity method is applied

–

(668)

Notes: Because the Company had no associates, no items are reported for the fiscal year ended September 30, 2021.

Segment information
As the Company consists of a single business segment, the Makuake service, a platform for people to
make support purchases of new things and experiences, this information is omitted.

- 12 -

Makuake, Inc. (4479)

Per share information(Yen)
Fiscal year ended
September 30, 2021

Fiscal year ended
September 30, 2022

Net assets per share

551.56439.84

Basic earnings (loss) per share

20.44(107.55)

Diluted earnings per share

19.58

–

Notes: 1. Although dilutive shares exist, diluted earnings per share for the fiscal year under review have been omitted,
as the Company reported a basic loss per share.
2. The basis of calculating basic earnings per share and diluted earnings per share is as follows:
Fiscal year ended
September 30, 2021

Fiscal year ended
September 30, 2022

246,642(1,347,356)

Profit (loss) not attributable to common shareholders(Thousands of yen)––

Profit (loss) available to common shares (Thousandsof yen)246,642(1,347,356)

Average number of common shares outstanding during
the period (Shares)

12,068,819

12,528,045

19.58

–

–

–

Increase in number of common shares (Shares)

527,163

246,166[Share acquisition rights included in the above](Shares)[527,163][246,166]

Basic earnings (loss) per share
Profit (loss) (Thousands of yen)

Diluted earnings per share
Adjustment to profit (Thousands of yen)

Outline of diluted shares not included in the calculationof diluted earnings per share as they are non-dilutive

Significant subsequent events
No applicable items.

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