Note: This document has been translated from a part of 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.

March 14, 2022

Summary of Non-consolidated Financial Results
for the Fiscal Year Ended January 31, 2022
(Under Japanese GAAP)
Company name:
Artner Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
2163
URL:
https://www.artner.co.jp/
Representative:
SEKIGUCHI Sozo, President and CEO
Inquiries:
HARIGAE Tomonori, Director; Head of the Management Division
Telephone:+81-6-6445-7551
Scheduled date of annual general meeting of shareholders:April 21, 2022
Scheduled date to commence dividend payments:
April 22, 2022
Scheduled date to file annual securities report:
April 21, 2022
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Non-consolidated financial results for the fiscal year ended January 31, 2022 (from February 1, 2021 to January 31, 2022)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
ProfitFiscal year ended
January 31, 2022
January 31, 2021

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

%

8,102
7,174

12.9
2.5

1,010
887

13.9
0.1

1,032
910

13.4
1.9

728
628

15.9
2.5

Diluted earnings
per share

Earnings per share

Return on equity

Yen
Yen
Fiscal year ended
January 31, 2022
68.59―
January 31, 2021
59.16―
Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended January 31, 2022:¥ ― million
For the fiscal year ended January 31, 2021:¥ ― million(2) Non-consolidated financial position
Total assets
As ofJanuary 31, 2022
January 31, 2021
Reference: Equity

Net assets

Millions of yen

Return on assets

%%

21.7
21.5

21.7
22.1

Equity ratio
3,582
3,123%

12.5
12.4

Net assets per share

Millions of yen

5,088
4,432
As of January 31, 2022:¥ 3,582 million
As of January 31, 2021: ¥ 3,123 million

Operating margin%

70.4
70.5

Yen

337.14293.93(3) Non-consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodFiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

January 31, 2022

770

33

△270

3,554

January 31, 2021

899

△30

△232

3,019

12. Cash dividends
Annual dividends per shareFirstSecond
Third
quarter-end quarter-end quarter-end
Yen
Fiscal year ended

January 31, 2021
Fiscal year ended

January 31, 2022

Yen

Fiscalyear-end

YenYenTotal cash
dividends

Total

Dividend
on equity

Payout ratio

Yen Millions of yen%

%

―

11.50

―

11.50

23.00

244

38.9

8.4

―

14.00

―

20.50

34.50

366

50.3

10.9

―

19.00

―

19.00

38.00

Fiscal year ending

January 31, 2023

50.7

(Forecast)

3. Forecast of non-consolidated financial results for the year ending January 31, 2023 (from February 1, 2022 to January 31, 2023)
Net sales
Full year

Operating profit

Ordinary profit

ProfitEarnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen8,7988.6

1,147

13.6

1,150

11.4

797

9.4

75.01

2

* 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: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(2) Number of issued shares (common shares)(i)
Total number of issued shares at the end of the period (including treasury shares)
As of January 31, 2022

10,627,920 shares(ii)As of January 31, 2021
Number of treasury shares at the end of the period
As of January 31, 2022

10,627,920 shares(iii)

As of January 31, 2021
Average number of shares outstanding during the period
Fiscal year ended January 31, 2022

10,625,544 sharesFiscal year ended January 31, 2021

10,625,544 shares

2,376 shares
2,376 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters(Caution regarding forward-looking statements, etc.)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. Consequently, the statements herein do not constitute assurances regarding theCompany’s actual results. Actual financial and other results may differ substantially from the statements herein due to various factors.

3

Non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of January 31, 2021
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Work in process
Raw materials and supplies
Prepaid expenses
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Structures
Accumulated depreciation
Structures, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Total property, plant and equipment
Intangible assets
SoftwareTelephone subscription right
Total intangible assets
Investments and other assets
Investment securities
Investments in capitalLong-term prepaid expenses
Deferred tax assets
Leasehold and guarantee deposits
Other
Total investments and other assets
Total non-current assets
Total assets

4

As of January 31, 2022

3,019,657
895,926
992
4,383
29,482
1,259
16,252△5,3003,962,653

3,554,199
1,011,154
950
3,637
31,293
1,336
19,081△6,0004,615,653

108,238△64,611
43,626
1,172△1,172044,802△25,496
19,30643,941
106,873108,238△68,732
39,505
1,172△1,172047,567△30,326
17,24025,68582,43147,793
1,654
49,44735,4891,654
37,143

7,261
1,250
1,381
217,198
85,114
1,132
313,338
469,659
4,432,313

8,805
1,250
1,150
256,431
84,9591,159
353,755
473,330
5,088,983

(Thousands of yen)
As of January 31, 2021
Liabilities
Current liabilities
Accounts payable - otherAccrued expenses
Income taxes payable
Accrued consumption taxes
Deposits received
Unearned revenue
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

5

As of January 31, 2022

164,860
62,345
182,239
183,571
90,113
66
116,787
5,105
805,088

255,536
74,585
232,197203,266
15,255
37
141,450
4,875
927,204

504,042504,042
1,309,131

579,533
579,533
1,506,737

238,284

238,284

168,323
168,323

168,323
168,323

10,46010,46040,0002,663,150
2,713,610△739
3,119,478

40,0003,120,984
3,171,444△739
3,577,312

3,704

4,933

3,704
3,123,182
4,432,313

4,933
3,582,246
5,088,983

Non-consolidated statements of income(Thousands of yen)
Fiscal year ended
January 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Commission income
Sales income of training materials
Rental income from land and buildings
Dividend income of insurance
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Cancellation penalty
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit6

Fiscal year ended
January 31, 2022

7,174,725
4,442,856
2,731,868
1,844,793
887,075

8,102,991
5,302,936
2,800,055
1,789,646
1,010,409

3
248
604
556
925
2,931
17,256
2,582
25,109

1
281
593
625
650
6,048
14,794
1,287
24,283

－
1,554
172
1,727
910,457

98
2,025
227
2,351
1,032,341

3,926
3,926

25,52325,5231,270
1,270
913,113306,409△21,856
284,552
628,56178
78
1,057,786
368,774△39,773
329,000
728,785

Non-consolidated statements of changes in equity
Fiscal year ended January 31, 2021
(Thousands of yen)
Shareholders' equity
Capital surplus
Share capital

Balance at beginning ofperiod

Retained earnings
Other retained earnings

Legal capital Total capital Legal retained
surplussurplusearnings

238,284

168,323

168,323

10,460Retainedearnings
brought
forwardGeneralreserve
40,000Total
retainedearnings

2,268,351

2,318,811△233,762△233,762

628,561

628,561

Changes during period
Dividends of surplus
ProfitAcquisition of treasury
sharesNet changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period－－－－－

394,799394,799

238,284

168,323

168,323

10,46040,0002,663,150

2,713,610

Shareholders' equity
TotalTreasury shares shareholders'equityBalance at beginning ofperiod
Changes during period△698

Dividends of surplus
ProfitAcquisition of treasury
sharesNet changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period△41

Valuation and translation
adjustments
Valuation
Total
Total net assets
difference on valuation andavailable-fortranslation
sale securitiesadjustments

2,724,720

3,659

3,659

2,728,380△233,762△233,762

628,561

628,561

△41

△4144

44

44

△41394,758

44

44394,802△739

3,119,478

3,704

3,704

3,123,182

7

Fiscal year ended January 31, 2022
(Thousands of yen)
Shareholders' equity
Capital surplus
Share capital

Balance at beginning ofperiod
Changes during period

Retained earnings

Legal capital Total capital Legal retained
surplussurplusearnings

238,284

168,323

168,323

10,460

Other retained earnings
RetainedGeneralearnings
reservebrought
forward40,0002,663,150

Dividends of surplus
ProfitNet changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period△270,951△270,951

728,785

728,785－－－－

457,834

457,834

238,284

168,323

168,323

10,46040,0003,120,984

3,171,444

Total
Treasury shares shareholders'equity△739

Valuation and translation
adjustments
Valuation
Total
Total net assets
difference on valuation andavailable-fortranslation
sale securities
adjustments

3,119,478

3,704

3,704

3,123,182

Changes during period
Dividends of surplus
ProfitNet changes in itemsother than shareholders'equityTotal changes during
periodBalance at end of period

2,713,610－

Shareholders' equity

Balance at beginning ofperiod

Total
retainedearnings△270,951△270,951

728,785

728,785
1,229

1,229

1,229

－

457,834

1,229

1,229

459,063△739

3,577,312

4,933

4,933

3,582,2468

Non-consolidated statements of cash flows(Thousands of yen)
Fiscal year ended
January 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Interest expenses
Gain on sale of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in accounts receivable – other
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in accrued consumption taxes
Increase (decrease) in accounts payable – other
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activitiesCash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Payments for the acquisition of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Payments for the acquisition of treasury shares
Dividends paid
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

9

Fiscal year ended
January 31, 2022

913,11330,103△200△15,633
92,828△251－△3,926
1,270△269
36,185△629
11,75173,07567,575
1,204,993
251－△305,960
899,285

1,057,786
28,675700
24,66375,490△282
98△25,52378△76△115,227787
19,69590,675△65,967
1,091,572
282△98△320,821
770,935△36,767
19,234△11,162△2,534△4,015
43,779△6,248
△144

340
△64
△26
△30,979298－△2633,643△41△232,048△232,089
636,216
2,383,441
3,019,657－△270,037△270,037
534,541
3,019,657
3,554,199