Summary of Consolidated Financial Statements for FY2021 (IFRS)
November 11, 2021
Exchange: Tokyo Stock Exchange
Name of listed company:
Stock code:
Representative:
Contact:

GMO Payment Gateway, Inc.
3769
Issei Ainoura
Ryu Muramatsu

Scheduled date for the holding of theordinary general shareholders’ meeting

URL: https://www.gmo-pg.com/?wovn=en
President & Chief Executive Officer
Director, Executive Vice President
Tel:+81-3-3464-0182
Scheduled date of commencementfor dividend payment

December 19, 2021

Scheduled submission date of securities report

December 20, 2021

Supplemental materials prepared for financial
results:Yes

Information meeting arranged related tofinancial results:Yes (for institutional investors and analysts)

December 20, 2021

(Amounts rounded down to the nearest one million yen)
1. Consolidated Financial Statements for FY2021 (From October 1, 2020 to September 30, 2021)(1) Consolidated Financial Statements(Percentages represent year-on-year change)
Profit ttributable
Total
Profit before
Revenue
Operating profit
Profit after tax to owners of comprehensive
income taxes
parentincomeMil. Yen% Mil. Yen% Mil. Yen% Mil. Yen% Mil. Yen% Mil. Yen%
FY2021
41,667 26.1
12,987 25.0 13,285 20.9
8,982 16.8
8,818 15.7
9,982 20.9
FY202033,046 22.7
10,3888.6 10,989 18.2
7,693 52.3
7,624 44.7
8,258 86.6
Basic earnings per
share

Return on equity
Return on Assets
using Profit
using profit before
attributable toincome taxes
owners of parent
Yen%%
116.1720.1
6.5
101.0426.2
6.6

Diluted earnings
per share

Yen
117.98103.62

FY2021
FY2020

Reference: Equity in earnings of affiliates:

FY2021

17Million yen

FY2020Operating profit
margin%31.2
31.4

517 Million yen(2) Consolidated Financial Position
Total assets
Mil. Yen
215,455
192,022

FY2021
FY2020Total equity
Total equity
Total equity
attributable toattributable toTotal equity
attributable toowners of parent to owners of parent
owners of parent
total assets
per share
Mil. Yen
Mil. Yen%
Yen
57,82055,84525.9
736.3433,45331,73416.5
431.25(3) Consolidated Cash Flows
Cash flow from operating
activities
Mil. YenFY2021△6,343
FY202049,1882.

Cash flow frominvesting activities
Mil. Yen
2,230△4,493

Cash flow from
Closing balance of cash
financing activities
and cash equivalents
Mil. Yen
Mil. Yen
12,781
104,523
95,830△785

Dividends
Annual dividend

End of Q1 End of Q2 End of Q3 Year-end
Yen
Yen
Yen
Yen
FY2020
0.00
0.00
0.00
52.00
FY2021
0.00
0.00
0.00
59.00
FY2022 (forecast)
0.00
0.00
0.00
66.00
3.

Total
Yen
52.00
59.00
66.00

Ratio of
Dividend
dividends to net
Payout ratio
assets(consolidated)(consolidated)
Mil. Yen
%
%
3,863
50.2
13.1
4,516
50.0
10.1
50.8

Total
Dividend
AmountConsolidated Financial Forecast for FY2022 (From October 1, 2021 to September 30, 2022)(Percentages represent year-on-year change)

Revenue
2Q of FY2021(cumulative)
Full Year

Mil. Yen

Operating profit

Profit before
income taxes% Mil. Yen

ProfitBasic earnings
attributable toper shareowners of parent% Mil. Yen%
YenProfit after tax%

Mil. Yen%

Mil. Yen

23,438 17.9

8,117

23.1

7,738 16.6

4,880

14.7

4,795

15.0

63.23

50,000 20.0

16,23425.0

15,538 17.0

10,048

11.9

9,860

11.8

130.01―1―

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)
FY2021: 76,557,545
FY 2020: 74,301,000[1] Number of shares issued at the end of the term(including treasury stock)
FY 2020: 714,781[2] Number of treasury shares at the end of the term FY2021: 714,996
FY2021: 74,750,225
FY2020: 73,579,725[3] Average number of shares during the term
(Note 1) Number of treasury shares at the end of the term includes the shares attributed to the directors’
remuneration board incentive plan (BIP) trust and J-ESOP: 709,705 shares for FY2020 and 709,705 sharesfor FY2021.

Reference: Summary of Non-consolidated Financial Statements
1. Non-Consolidated Financial Statements for FY2021 (From October 1, 2020 to September 30, 2021)(Percentages represent year-on-year % change)(1) Non-consolidated Financial Statements
Revenue
FY2021
FY2020Operating profit

Mil. Yen
22,743
18,885

%
20.4
15.5

Basic earnings per
share

Mil. Yen
8,499
6,781

%
25.3
15.6

Net Profit

Mil. Yen
9,700
7,936

Mil. Yen
6,860
5,323

%
22.2
18.5

%
28.9
20.6

Diluted earnings per
share

Yen
91.78
72.36

FY2021
FY2020Ordinary Profit

Yen
89.09
69.27

(2) Non-consolidated Financial Position
Total assets
FY2021
FY2020
Reference

Note:

※
※

Total equity

Mil. Yen
154,264
134,678
Owner’s equity

FY2021Equity ratio

Mil. Yen
46,24625,856
46,246

Mil. yen

Total equity per share
%
30.0
19.2

FY202025,856

Yen
609.77351.37
Mil. yen

Non-consolidated financial results are based on J-GAAP standards.

These financial statements are not subject to the 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 other factors. For the assumption on which financial forecasts are based and matters to be considered inusing financial forecasts, please refer to “(5) Forecasts” under “1. Qualitative Information on Consolidated
Financial Statements for the Fiscal Year” on page 11 of the attachment.
2. Results Presentation Meeting for Institutional Investors and Analysts is to be held on November 12, 2021.
Supporting materials and a video of the 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……………………..…………………...................

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

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

9（３）Status of consolidated cash flows ………………………………………………………………………...……… 10（４）Basic policy on profit distribution and dividends for current and next fiscal year…………………….………

10（５）Forecasts…………………………………………………………………………………………………………….. 11
２．Management Policy………………………………………………………………………………………………………

12（１）Basic policy on corporate management…………………………………………………………………………..

12（２）Targeted management performance indicators……………………………………………………………..…... 12（３）Priority issues to be addressed……………………………………………………………………………………. 13
３．Basic stance on accounting standard selection……...……………………………………………………………….. 14
４．Condensed Consolidated Financial Statements and Major Notes ………………………………………………....

15（１）Condensed Consolidated balance sheet ……………………………………………………………………...…

15（２）Condensed Consolidated statement of income and statement of comprehensive income…………………

17（３）Condensed Consolidated statement of changes in equity …………………………………………………..… 19（４）Condensed Consolidated statement of cash flows …………………………………………………………..…

20（５）Notes regarding the going concern assumptions………………………………………………………………..

22（６）Notes regarding condensed consolidated financial statement………………………………………………..

22➀ Reporting Entity………………………………………………………………………………………………….

22➁ Basis of preparation…………..………………………………………………………………………………...

22③ Significant Accounting Policies………………………………………………………………………………...

22④ Cash and cash equivalents…………………………………………………………………………………….

23⑤ Operating and other receivables………………………………………………………………………………

23⑥ Deposits to subsidiaries and affiliates………………………………………………………………………...

23⑦ Segment information……………………………………………………………………………………………

23⑧ Per share information…………………………………………………………………………………………... 25⑨ Significant subsequent events…………………………………………………………………………………

―3―

25

1. Qualitative Information on Consolidated Financial Statements(1) Consolidated operating results
Forward-looking statements in the document are based on the judgement of the Group at the end of the fiscal year
under review.
Consolidated operating results①

The Group announces its earnings results for the current consolidated fiscal year 2021 (October 1, 2020 to
September 30, 2021) as follows.
(Unit: Thousand yen)
FY2020(From October 1, 2019
to September 30, 2020)

FY2021(From October 1, 2020
to September 30, 2021)

Rate of Change(%)

Revenue

33,046,404

41,667,235

26.1

Operating profit

10,388,667

12,987,207

25.0

Profit before income taxes

10,989,321

13,285,643

20.9

7,624,148

8,818,820

15.7

Profit attributable to ownersof parent
a. Revenue

The Group’s revenue was ¥41,667 mil., up by 26.1% YoY. Overall impact from the COVID-19 pandemic waslimited, and overall performance trended strongly from the expansion in cashless payments. The Payment
Processing Business revenue grew, led by steady growth of E-Commerce (EC) market for online and recurring
payments coupled with the expansion of the Group’s services to the offline market. The Money Service Business(MSB) revenue grew not only from growth in GMO Payment After Delivery transactions, a type of deferredpayment service, but also from the growth of Early Payment service. Payment Processing Business revenue
was ¥30,812 mil. (up 33.7% YoY), Money Service Business (MSB) revenue was ¥10,151 mil. (up 7.8% YoY) andPayment Enhancement Business revenue was ¥717 mil. (up 19.2% YoY). For details, please refer to page 6 of“② Results by segment” found under “(1) Consolidated operating results” of “1. Qualitative Information on
Consolidated Financial Statements”.
The impact of COVID-19 to forecasts is stated under “(5) Forecasts” of “1. Qualitative Information on
Consolidated Financial Statements.”―4―

Revenue breakdown by business model is as follows:(Unit: Thousand yen)
FY2020(From October 1, 2019
to September 30, 2020)

FY2021(From October 1, 2020
to September 30, 2021)

Rate of Change(%)

Initial(Initial revenue)

2,380,734

5,314,553

123.2

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

5,709,969

6,573,815

15.1

8,931,712

10,865,687

21.7

16,023,987

18,913,179

18.0

33,046,404

41,667,235

26.1

Business model

Total

b. Operating profit
Operating profit reached ¥12,987 mil., up by 25.0% YoY, achieving the management target of 25% operating
profit growth and the full-year forecasts for the fiscal year under review.
By segment, Payment Processing Business segment profit (operating profit) was ¥14,424 mil., up by 24.6% YoY;
Money Service Business segment profit (operating profit) stood at ¥2,093 mil., up by 16.3% YoY; and Payment
Enhancement Business segment loss (operating loss) of ¥106 mil. compared to the previous year’s segment
profit (operating profit) of ¥77 mil.
c. Profit before income taxes
Pre-tax profit was ¥13,285 mil. up by 20.9% YoY, and this growth rate differs from the operating profit growth rateof 25.0% YoY. This is due to equity method investment gains of ¥517 mil. recorded in the previous term.

―5―

② Results by segment
Performance by reportable segment is explained below.
(Unit: Thousand Yen)
Segment

FY2020(From October 1, 2019
to September 30, 2020)

FY2021(From October 1, 2020
to September 30, 2021)

Rate of Change (%)

23,037,620
11,581,232

30,812,806
14,424,791

33.7
24.6

9,416,169
1,799,806

10,151,451
2,093,180

7.8
16.3

Payment Processing Business
Revenue
Segment profit (△=loss)
Money Service Business
Revenue
Segment profit (△=loss)
Payment Enhancement
Business
Revenue
Segment profit (△=loss)
Adjustments
Revenue
Segment profit (△=loss)

602,024
77,496

717,861△106,886

19.2－△9,410△3,069,868△14,884△3,423,878

－
－

Total
Revenue
Segment profit (△=loss)

33,046,404
10,388,667

41,667,235
12,987,207

26.1
25.0

a. Payment Processing BusinessIn the Payment Processing Business, efforts focused on expanding online and recurring billing services, offline
payment processing service and, support services to financial institutions and financial service providers. In the
online and recurring billing domain, we focused our efforts to expand usage of the Group’s services by large andsmall-to-medium merchants across all sectors and to non-EC operators, given the backdrop of a steadily
expanding E-commerce (EC) market.
The impact from the COVID-19 contagion was limited during the fiscal year under review. In the online andrecurring billing domain, micropayment transactions increased from the rising adoption of cashless payment andexpanding EC market as well as increased payment transactions for household goods, digital content, public
utilities and taxes caused by nesting demand. As a result, transaction volume, including GMO Payment After
Delivery (included in Money Service Business segment), grew 36.9% YoY and transaction value grew 36.3% YoY.
Additionally, new projects commenced services, including SMS Choice of Payment, a service to digitalize
payment of electric power bills promoted by TEPCO Energy Partner, Inc.
Despite the ongoing environment in which offline consumption remains susceptible to the adverse effects of
COVID-19, offline domain contributed to expand this segment’s transaction volume and value as well as to expand
initial revenues from strong trends in payment terminal sales driven by cashless payment promotions bylocal/national governments, and the increase in sales of stera payment terminal, the next generation payment
platform. Additionally, steady progress was made in receiving orders from the focus market of Unattended Market(UM), such as automated payment machines and ticket machines.
As a result, segment revenues reached ¥30,812 mil., up 33.7% YoY, and segment profit (operating profit) was¥14,424 mil., up 24.6% YoY.

―6―

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 needs; Transaction Lending Service toprovide loans to merchants based on their payment and other related data; Lending service to overseas
operators; Remittance service; Instant Salary byGMO, a service to receive salary instantly for work that iscompleted; and GMO Payment After Delivery offered by a consolidated subsidiary GMO Payment Service, Inc.
In the consolidated fiscal year under review, this segment’s revenue growth rates slowed due to taking a
conservative stance on extending credit in consideration of COVID-19 effects despite the steady growth intransactions for GMO Payment After Delivery service as well as the hard comps against the same period of lastyear that saw strong nesting demand. Even so, this service contributed to increasing the segment profit bymaintaining the credit related costs at a certain level. Early Payment service revenues trended strongly on the backof growth in Payment Processing Business segment. Lending service to overseas operators made progress insecuring new potential customers that can generate stable revenues going forward and contributed to increasing
the segment revenues. In the area of finance related service such as inter-corporate transaction, progress wasmade in the service expansion and collaboration with financial institutions.
As a result, segment revenue reached ¥10,151 mil., up 7.8% YoY and segment profit (operating profit) reached¥2,093 mil., up 16.3% YoY.
GMO Payment Gateway, Inc. completed the conversion into common stock on June 18, 2021 (which is two years
earlier than the initial plan) for the Zero-Coupon Convertible Bonds due 2023 that was issued on June 19, 2018 forthe purposes of funding for lending and working capital needs related to the MSB segment, as the requirements of
the 130% call option clause set forth in the terms and conditions was fulfilled as of April 21, 2021.
Additionally, GMO-PG has issued Zero Coupon Convertible Bonds due 2026 on June 22, 2021, to the total facevalue amount of ¥20.0 billion. The purpose is to secure additional low-cost funds to achieve sustainable growth in
the MSB segment, mainly to expand the overseas Lending, Transaction Lending, Early payment services that arelikely to require increasing working capital and funds available for lending, as well as for execution of M&A strategies
in payment and FinTech domains and/or investment funds (including investments made through proprietary Funds).
c. Payment Enhancement Business
Payment Enhancement Business comprises of online advertising service which provides analytics andadvertisement management service based on merchants’ sales trends to support their growth, and “Medical
Kakumei byGMO” service, 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 multiple patient registration
cards of several medical institutions that adopt this service. The demand for this service increased on the back of
COVID-19 causing the subsidiary’s revenue to increase by 85.6% YoY and contributing to segment revenue growth.
However, in light of the recent business operations, impairment loss of ¥166 mil. was recorded related to goodwill
of GMO Medical Reservations Technology Co. Ltd. The SSL coupon and delivery service revenue declined due tothe decline in transactions.
As a result of the above, segment revenue was ¥717 mil., up 19.2% YoY and segment loss (operating loss) was¥106 mil. compared to segment profit (operating profit) of ¥77 mil. recorded in the previous fiscal year.

―7―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)

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

Payment processing service
GMO Financial Gate, Inc. (consolidated subsidiary)(Offline)
GMO Payment After Delivery

GMO Payment Service, Inc. (consolidated
subsidiary)

Money Service
Business

Remittance service

Transaction lending
Overseas Lending

Online Advertising

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 Epsilon, Inc. (consolidated subsidiary)

GMO Payment Gateway, Inc.

Early Payment service
Payment

GMO Payment Gateway, Inc.

GMO Medical Reservations Technology Co., Ltd.
Medical Kakumei byGMO―8―(consolidated subsidiary)(2) Status of consolidated financial position
Assets, liabilities and equity
a. Assets
Total assets at the end of the consolidated fiscal year under review increased by ¥23,433 mil. from the end of
the previous fiscal year to reach ¥215,455 mil. This is mainly due to an increase in cash and cash equivalents of¥8,693 mil. and advances paid of ¥14,281 mil.
The Group has ¥22,930 mil. in deposits to subsidiaries and affiliated companies included in the balance of cash
and cash equivalents at the end of the consolidated fiscal year under review, as stated in ④ Cash and cash
equivalents” of (6) Notes regarding condensed consolidated financial statements. Together with the ¥2,000 mil.
of deposits to subsidiaries and affiliated companies stated in the condensed consolidated balance sheet, thetotal balance of the deposits to subsidiaries and affiliated companies stands at ¥24,930 mil. These deposits are
GMO Internet Inc.’s group-wide cash on hand that is deposited to the cash management system (CMS)
implemented and managed by GMO Internet Inc. When the Group has greater need for funding for its businessexpansion, it can withdraw necessary funds without the need to wait until the preset CMS repayment date, byregistering a request after taking into account the number of days required for processing the application.
b. Liabilities
Balance of liabilities at the end of the consolidated fiscal year under review stood at ¥157,635 mil., a decreaseof ¥933 mil. from the end of the previous consolidated fiscal year, mainly due to an increase in corporate bondsof ¥2,778 mil., which was offset by the decrease in borrowings of ¥3,773 mil.
c. Equity
Equity balance at the end of the consolidated fiscal year under review was ¥57,820 mil., an increase of ¥24,366
mil. from the end of the previous consolidated fiscal year. This was mainly due to the decline in retained earningsof ¥3,826 mil. from dividend payouts, which was offset by recording the net profit of ¥8,982 mil., issuance of the
new Zero-Coupon Convertible Bond of ¥1,006 mil. and the conversion of Zero-Coupon Convertible Bond of¥17,040 mil.

―9―

(3) Status of consolidated cash flows for the current fiscal year
Overview of cash flow
Cash and cash equivalents (“funds”) at the end of the consolidated fiscal year under review increased by ¥8,693
mil. versus the balance at the start of the term, to reach ¥104,523 mil. The state of cash flows over the
consolidated fiscal year under review is discussed below.
a. Cash flow from operating activities
Net funds used by operating activities amounted to ¥6,343 mil., which compares to ¥49,188 mil. in net funds
provided in the previous fiscal year. This resulted from cash inflows from (i) profit before tax of ¥13,285 mil.,which was offset by cash outflows from (ii) an increase in advances paid of ¥14,281 mil., (iii) corporate andincome tax payment of ¥4,653 mil.
b. Cash flow from investing activities
Net funds provided by investing activities totaled ¥2,230 mil., which compares to net funds used of ¥4,493 mil.
in the previous fiscal year. This is due to cash outflows from (i) acquisition of intangible assets of ¥1,677 mil., (ii)payment into deposits to subsidiaries and affiliated companies of ¥2,000 mil. which was offset by cash inflows
from (iii) proceeds from withdrawals from deposits to subsidiaries and affiliated companies of ¥5,000 mil.
c. Cash flow from financing activities
Net funds provided by financing activities was ¥12,781 mil., which compares to net funds used of ¥785 mil. in theprevious fiscal year. This is due to cash outflows from the (i) net reduction in short-term borrowings of ¥3,020 mil.,(ii) dividend payouts of ¥3,826 mil., which was offset by cash inflows from issuance of corporate bonds of ¥21,057
mil.

(4) Basic policy on profit distribution and dividends for the current and next fiscal year
GMO Payment Gateway, Inc. places management priority on sustainably securing the necessary retained earnings forthe purpose of future business expansion and for strengthening the organization, as well as to sustain a stable level ofshareholder returns.
The year-end dividend for the fiscal year ending September 2021 was initially forecast as ¥54 per share as disclosed
in the “Summary of Consolidated Financial statements for FY 2020” released on November 11, 2020. However, yearend dividend is planned to be raised by ¥5 per share to ¥59 per share in light of returning profits to shareholders andas this fiscal year’s results is likely to exceed the initial forecasts. (See note below).
Based on the strong business plans for the next fiscal year, the year-end dividend for next fiscal year is forecast at ¥66
per share to raise the medium-to-long term corporate value by enhancing return of profits to shareholders and in
keeping with the continued increase in the dividend amount since dividend payouts commenced. Funds for internal
reserves is intended to be utilized effectively for aggressive business expansion and for strengthening corporate
capability.
The revision to dividends is summarized in the table below
Annual dividend
End of Q1
Yen－

End of Q2
Yen－

End of Q3
Yen－

Year-end
Yen
54.00

Current forecast

－

－

－

59.00

FY2021

0.00

0.00

0.00

Previous plan(as of November 11, 2020)

Previous Fiscal Year
0.00
0.00
0.00
52.00
(FY2020)(Note) This is planned to be raised as a resolution matter at the Board of Directors meeting scheduled for
November 22, 2021.

―10―

Total
Yen
54.00
59.00

52.00

(5) Forecasts
The Group’s core business is positioned within the E-Commerce (EC) market in Japan, and Japan’s B2C EC for
merchandizing continues to grow very rapidly, helped by favorable externalities such as the increased penetration ofsmartphones and logistic/distribution industry reforms. The online migration of payments for non-merchandise
services such as public dues and taxes, medical expenses and other sectors closely tied to daily life is making
steady progress; and the “new normal” lifestyle brought about by COVID-19 has also increased penetration of online
consumption. In addition, EC migration of inter-company transactions (the B2B domain) and transactions between
individuals (C2C domain) is expanding the scope of EC itself. The business scope of our consolidated subsidiary
GMO Financial Gate, Inc., which addresses the offline market, is set to expand from the emerging business
opportunities in the offline market from accelerating penetration of cashless payments of credit cards and otherpayment methods.
The business environment for the fiscal year ending September 2022 lacks visibility on private consumption despite
the subsiding of COVID-19. However, its impact to the Group’s revenues is likely to be minimal as of this writing,given the Company’s business characteristic to be less susceptible to changes in the macro-economic conditions thatstems from exposure to a wide variety of merchants and industries and the ongoing shift towards online payment andcashless payment. We forecast revenue growth in all segments through our efforts to acquire large and high-growthmerchants and financial institutions, make large project wins, expand the DX service platforms and the expansion ofpriority initiatives such as stera, the next generation payment platform.
The earnings forecast for consolidated fiscal year ending September 2022 are as follows: revenue of ¥50,000 mil.
(up 20.0% YoY), operating profit of ¥16,234 mil. (up 25.0% YoY), profit before tax of ¥15,538 mil. (up 17.0% YoY),
profit of ¥10,048 mil. (up 11.9% YoY), and profit attributable to owners of parent company of ¥9,860 mil. (up 11.8%
YoY).

―11―

2. Management Policy(1) Basic policy of the corporate management
The management principle of the group is to “pursue both spiritual and material prosperity for our partners by contributing
to the advancement and progress of society.”■ We contribute to the advancement and progress of our society with a strong intention to create and develop markets,and to uphold integrity, fairness and transparency in expanding business.
■ We define our partners as our employees of high morals, customers and business partners.
■ Our employees possess richness of spirit, advanced problem-solving abilities, and a high level of professionalism, andpursue richness of spirit through their exchanges of values with customers.
Based on this management principle, our mission is to become the infrastructure of the payment process in Japan andto contribute to a safe and convenient payment environment for both merchants and consumers. Based on this mission,
our basic policy in pursuing our business is as follows.
・Be adaptive to the changing times
Spirit of innovation: We strive to maintain/support technical superiority of our products.
Flexibility: Our project proposals are appropriate for the growing market’s speed
・Establish our raison d’etre
Uniqueness: We strive to maintain the value of our existence through customer-oriented services.
Profitability: We surpass competitors by pursuing revenue growth and establish an unwavering position in the industry.
Independence and Education: We strive to become a business person with high self-reliance, and to be the exemplar
for achievement and results, mindset and attitude.
・Pursue all possible conditions for making profit
Sociability: With a focus on healthy business, we will continue to actively develop untapped markets in the area ofvarious payment processing solutions.
Rationality: We make prompt business judgements from an impartial position while always keeping in mind economic
rationality.
・Be responsible to shareholders
We strive to maximize the shareholder value by considering capital efficiency.
By actively conducting IR activities we strive to provide our shareholders with appropriate information.

(2) Targeted Management Performance Indicators
The Group emphasizes an operating profit growth rate of 25% as a management performance indicator.
The Group continues to invest in order to achieve the 25% operating profit growth rate in the medium-to-long term andwas thereby able to achieve FY2021 operating profit growth of 25.0% YoY and is also forecasting growth of 25.0% YoY
for the FY2022.
As a Group involved in providing the online payment infrastructure to the E-Commerce market, we will continue tocontribute to expand the EC market in the regions and countries where we operate and to raise Japan’s EC penetration
by enhancing the security and convenience of the EC environment. In addition, the Group will continue its efforts to scale
up by launching into new businesses, forging alliances with other partner companies, establishing subsidiaries andthrough overseas expansion.

―12―

(3) Priority issues to be addressed① Strengthening the information security
The GMO-PG consolidated subsidiaries group mainly provides credit card payment processing services and thus
manages material information such as credit card numbers.
As part of the process to strengthen risk management system and for the prevention of information leaks, theCompany is the first listed payment processing services company to obtain certifications of ISO/IEC 27001:2013(Japanese Standards, JIS Q27001: 2014), the global standard for information security management, for all of theCompany’s offices. Consequently, our information security management system has been objectively assessed tobe appropriate and safe in compliance with strict international standards.
With regards to PCI DSS, a global security standard in the credit card industry that was jointly established by fiveinternational credit card companies (JCB, American Express, Discover, MasterCard, and VISA), after obtaining thefirst certification in December 2008, we have passed annual re-certification review twelve times and have obtained
the latest certification in December 2020.
With respect to the handling of personal information, we have obtained the privacy mark that certifies thecompanies which have improved the system for taking appropriate protection measures for personal information incompliance with the Japanese Industrial Standards “JIS Q 15001:2017 Personal Information Protection
Management System – Requirements.” We also independently established and operate the personal information
protection management system at a high level of protection in a manner that goes beyond mere compliance withthe laws.
②Strengthening the system development capabilities
The group’s business fields are deeply related to the Internet and we recognize that to provide customers withcompetitive products, it is important to adopt competitive technologies and services in a timely manner.
At present, our internal personnel incorporate changes in the system environment or requests from customers into
our system designs and outsource programming work to provide efficient and quality services. We will try tocontinue to secure highly skilled developers and further strengthen system development capabilities and services.
③Strengthening the collaboration businessWe acknowledge that in order to ensure stable growth, it is essential to establish mutually beneficial businesscollaborations with corporations covering many merchants, payment companies or E-Commerce website builders toefficiently acquire new merchants.
The Company’s characteristic is to employ the above-mentioned business style, and will continue to seek further
business collaborations that the management will be responsible for its management and progress.
④Expansion of business portfolio
As its management strategy, the group has always strived to expand its business domains; we have expanded theonline payment from the B2C EC areas and into public dues, utility charges, service commerce, B2B and C2C
market space; we have also started a new type of payment service with the founding of GMO Payment Service Inc.
The overseas expansion is strengthened through the consolidated subsidiaries spread over 7 overseas locations.
We will continue to expand revenues by further broadening and diversifying the business portfolio while keeping thepayment processing service at the core.
⑤ Promotion of sustainability management
Based on our management principle of the Group to “pursue both spiritual and material prosperity for our partners
by contributing to the advancement and progress of society,” we will continue to endeavor to advance sustainability
management by undertaking SDG activities by providing services that support online, cashless, paperless anddigital transformation (DX) migration that are centered on payment, as well as drive social innovation throughpayment and financial technology.

―13―

3．Basic Stance on Accounting Standard Selection
The group has voluntarily adopted the International Financial Reporting Standards (IFRS) from first quarter of the fiscal
year ending September 2018, in consideration of the Group’s focus to expand its comprehensive payment service
globally, and the need to improve international comparability of financial information and expand disclosure, for the
purpose of enhancing the convenience and usefulness to all stakeholders involved.

―14―4. Condensed Consolidated Financial Statements and Major Notes(1) Condensed consolidated balance sheet(Unit: Thousand Yen)
Notes

End of FY2020(September 30, 2020)

End FY2021(September 30, 2021)

AssetsCurrent assets④

95,830,807

104,523,965⑤

10,782,296
31,039,748

10,308,474
45,321,043

23,585,142
1,440,999

24,893,665
1,664,548

5,000,000
1,163,608
537,3292,000,000
455,403335,983

169,379,933

189,503,084

3,714,793
4,854,253

3,948,522
5,521,782

3,740,933

4,593,784

1,975,100
6,711,766

4,231,100
6,005,805

Other noncurrent assets

1,530,494
115,346

1,529,043
122,769

Total noncurrent assets

22,642,689

25,952,808

192,022,622

215,455,892

Cash and cash equivalents
Operating and other receivables
Advances paid
Accrued revenue
Inventories
Deposits to subsidiaries and affiliates
Other financial assets
Other current assets⑥

Total current assets
Noncurrent assets
Property, plant and equipment
Goodwill and other intangible assets
Investments accounted using equity
MethodOperating and other receivables⑤

Other financial assets
Deferred tax assets

Total assets―15―

(Unit: Thousand Yen)
Notes

End of FY2020(September 30, 2020)

End FY2021(September 30, 2021)

Liabilities and equity
Liabilities
Current liabilities
Operating and other payables
Accrued expenses

4,296,647
19,385,695

5,230,945
20,537,297

Deposits received
Borrowings

87,059,213
18,800,400

84,593,904
15,138,420

Other financial liabilities
Income taxes payable, etc.

400,217
2,491,098

621,3632,602,652

Provisions
Other current liabilities

352,8123,383,652

327,157
3,662,794

136,169,737

132,714,534

Total current liabilities
Noncurrent liabilities
Corporate bonds

16,814,650

19,593,627

Borrowings
Other financial liabilities

131,400
3,013,338

20,0952,889,479

Provision
Deferred tax liabilities

260,843
54,170130,180
78,148Other noncurrent liabilities
Total noncurrent liabilities
Total liabilities
EquityCapital stock

2,124,966

2,209,447

22,399,369

24,920,978

158,569,106

157,635,512

4,712,900

13,323,135

Capital surplus
Retained earnings

5,675,561
20,725,465

15,191,927
26,546,151

Treasury stock
Other items of equity
Total equity attributable toowners of parent
Non-controlling interests△1,149,341
1,769,560△1,152,444
1,937,175

31,734,145

55,845,946

1,719,369

1,974,433

Total equity
Total liabilities and equity―16―

33,453,515

57,820,379

192,022,622

215,455,892

(2) Condensed consolidated statement of income and consolidated statement of comprehensive income
Condensed consolidated statement of income(Unit: Thousand yen)
FY2020(From October 1, 2019 to
September 30, 2020)

FY2021(From October 1, 2020 to
September 30, 2021)

Continuing Operations
Revenue

33,046,404

41,667,235

Cost of revenue△9,199,819△13,568,862

Gross profit
Other income
Selling, general and administrative
expenses
Other expense

23,846,584

28,098,372

159,805

263,671△13,424,141△15,031,509

Notes△193,581△343,327

Operating profit
Financial income

10,388,667

12,987,207

336,467

484,137

Financial expense
Equity method investment gain/loss(△=loss)
Profit before income taxes△253,029△202,868

517,217

17,166

10,989,321

13,285,643

Corporate and income tax expenses△3,116,722△4,302,682

7,872,598

8,982,961△179,198－

7,693,400

8,982,961

7,624,148

8,818,820

69,252

164,140

7,693,400

8,982,961

105.94117.98

Profit from continuing operations
Discontinued Operations
Profit/Loss from discontinued operations(△=loss)
ProfitProfit attributable to
Owners of parent
Non-controlling interests
ProfitEarnings per share
Basic earnings per share (yen) (△=loss)
Continuing operations
Discontinuing operations

⑧

Total
Diluted earnings per share (yen) (△=loss)
Continuing operations

△2.32

－

103.62117.98103.29116.17△2.25－

101.04116.17⑧

Discontinuing operations
Total

―17―

Condensed consolidated statement of comprehensive income(Unit: Thousand yen)
FY2020(From October 1, 2019 to
September 30, 2020)
7,693,400

FY2021(From October 1, 2020 to
September 30, 2021)
8,982,961

570,848

102,291

248,757

546,271819,605

648,563△279,897

271,534

25,696

79,260△254,201

350,794

565,404

999,357

8,258,805

9,982,318

Non-controlling interests

8,187,844
70,9609,814,824
167,494

Total

8,258,805

9,982,318

NotesProfitOther comprehensive income
Items that will not be reclassified to profit
or loss
Fair value of financial assets measured
through other comprehensive income
Shares of other comprehensive incomeof equity method affiliates
Total of Items that will not be reclassified
to profit or loss
Items that will be reclassified to profit orloss
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―18―

(3) Condensed consolidated statement of changes in equity
Previous consolidated fiscal year (From October 1, 2019 to September 30, 2020)(Unit: Thousand yen)
Notes

Balance as of October 1,
2019
Cumulative effects ofaccounting changes
Restated Balance

Capitalstock

Capitalsurplus4,712,900

5,847,480 15,884,444 △1,181,846－
4,712,900

ProfitOther comprehensive
incomeComprehensive income
Disposal of treasury
sharesDividends
Transfer from other items
of equity to retained
earnings
Share-based paymenttransaction
Changes in the interest incontrolled subsidiary
Change from sales of
consolidated subsidiary
Other increase/decrease
Total transactions withownersBalance as of September
30, 2020－

Retained Treasury
earnings
stock△97,243

Other
items ofequity1,231,655 26,494,633－

5,847,480 15,787,200 △1,181,846

Total equity
Nonattributable
controllingto owners
interestsof parent－△97,243

1,231,655 26,397,389

1,044,664 27,539,297△38,971△136,214

1,005,692 27,403,082

7,624,148

－

－

－

－

－

563,696563,696

1,707

565,404－－

7,624,148－

563,696

8,187,844

70,9608,258,805－

33,085－32,504－65,590－65,590－－ △2,648,221

－

－

－

25,454－△25,454

－

－

－

－

136,503－－△22

136,480

19,480155,960－△32,573－－－△32,573454,713422,139－△308,934－－－△308,934

168,522△140,412－－△63,115－△313△63,429－△63,429△171,919 △2,685,882

32,504△25,791 △2,851,088

642,716 △2,208,372

5,675,561 20,725,465 △1,149,341

1,769,560 31,734,145

1,719,369 33,453,515

－

－

－

－
4,712,900

7,624,148

Total
Equity－ △2,648,221

69,252

7,693,400－ △2,648,221

Current consolidated fiscal year (From October 1, 2020 to September 30, 2021)(Unit: Thousand yen)
Notes

Balance as of October 1,
2020
ProfitOther comprehensive
incomeComprehensive income
Purchase of treasury
stock
Dividends
Dividends paid to noncontrolling interests
Issuance of convertiblebond-type bonds withstock acquisition rights
Conversion of convertiblebond-type bonds withstock acquisition rights
Transfer from other items
of equity to retained
earnings
Share-based paymenttransaction
Changes in the interest incontrolled subsidiary
Changes in ownershipinterest in associates
Other increase/decrease
Total transactions withownersBalance as of September
30, 2021

Capitalstock

CapitalsurplusRetained Treasury
earnings
stock

4,712,900

5,675,561 20,725,465 △1,149,341

Otheritems ofequityTotal equity
Nonattributable
controllingto owners
interestsof parent

1,769,560 31,734,145

Total
Equity1,719,369 33,453,515－－

8,818,820－－

8,818,820

164,140

8,982,961

－

－

－

－

996,004

996,004

3,353

999,357－－

8,818,820－

996,004

9,814,824

167,494

9,982,318－－－△3,102－△3,102－△3,102－－ △3,826,483－－ △3,826,483

－

－

－

－

－

－

△63,671△63,671－

1,006,926－－－

1,006,926－

1,006,926

8,610,235

8,430,623－－－ 17,040,858－－

828,349－△828,349

－

－

－

－

103,656－－△39

103,616－

103,616－△29,165－－－△29,165

151,240

122,075－

12,880－－－12,880－12,880－△8,555－－－△8,555－△8,5559,516,366 △2,998,133△3,102△828,389 14,296,976

87,569 14,384,545

13,323,135 15,191,927 26,546,151 △1,152,444

1,937,175 55,845,946

1,974,433 57,820,379

8,610,235―19―－ △3,826,483－ 17,040,858

(4) Condensed consolidated statement of cash flows

Notes

FY2020(From October 1, 2019 to
September 30, 2020)(Unit: Thousand yen)
FY2021(From October 1, 2020 to
September 30, 2021)

10,989,321

13,285,643△158,338－

1,520,087
115,793

1,896,633
187,990

172,466－△65,801△281,269△517,217△17,166△1,233,718△223,548△530,571△1,504,832

1,457,114△14,281,294△2,019,481△653,790

1,379,751

933,682

3,429,921

832,30336,225,413△2,471,198

1,272,825

238,652

353,731
52,391,298
38,529△169,235△30,000△3,041,766
49,188,824

461,288△1,596,905
45,253△138,185－△4,653,399△6,343,236△428,158△245,055△1,508,408△884,250△1,677,505△103,625－

499,642

405,487

178,886－△2,000,000－

5,000,000△1,153,708△403

116,863

700,555△968,256－－△108,566△72,876△4,493,307△12,9292,230,999

Cash flow from operating activities
Profit before income taxes
Profit before income taxes fromdiscontinued operations (△=loss)
Depreciation & Amortization
Impairment Loss
Gain/loss from sale of subsidiary(△=gain)Financial income and expense(△=gain)
Equity method investment gain/loss(△=gain)
Increase/decrease in inventories(△=increase)
Increase/decrease in operating andother receivables (△=increase)
In/Decrease in advances paid(△=increase)
In/Decrease in accrued revenues(△=increase)
In/Decrease in operating payables(△=decrease)
In/Decrease in accrued expenses(△=decrease)
In/Decrease in deposits received(△=decrease)
In/Decrease in other current
liabilities (△=decrease)
Other
SubtotalInterest and dividends received
Interest paid
Payments into deposit funds
Corporate income taxes paid
Cash flow from operating activities
Cash flow from investing activities
Purchase of property, plants andequipment
Purchase of intangible assets
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
Purchase of shares of subsidiaries
resulting in change in scope of
consolidation
Proceeds from sales of shares ofsubsidiaries resulting in change inscope of consolidation
OthersCash flow from investing activities―20―

FY2020(From October 1, 2019 to
September 30, 2020)(Unit: Thousand yen)
FY2021(From October 1, 2020 to
September 30, 2021)

3,000,000△3,020,000△1,267,300－△2,648,164△803,910
21,057,055△3,826,280－△63,493431,668

144,646△301,311△785,107△706,323
12,781,695△93,050

23,70043,817,359

8,693,158④

52,013,447

95,830,807④

95,830,807

104,523,965

Notes
Cash flow from financing activities
In/Decrease in short-termborrowings (△=decrease)
Repayment of long-term borrowings
Proceeds from issuance of bonds
Cash dividends paid
Dividends paid to non-controllinginterests
Capital contributions from noncontrolling interests
Other
Cash flow from financing activities
Effect of exchange rate changes on cash andcash equivalents
Increase and decrease in cash and cash
equivalents (△=decrease)
Balance of cash and cash equivalents at the
beginning of the period
Cash and cash equivalents at the end of
period―21―

(5) Notes regarding the going concern assumptions
N/A(6) Notes regarding condensed consolidated financial statements
Reporting Entity①

GMO Payment Gateway, Inc. (“the Company”) is a corporation (“kabushiki kaisha”) domiciled in Japan and listed on
the Tokyo Stock Exchange. The registered address of its head office is 2-3 Dogenzaka 1-chome, Shibuya-ku, Tokyo,
Japan. The condensed consolidated financial statements for the fiscal year ending September 30, 2021, is comprisedof the Company and its subsidiaries (the “Group”) and equity interest by the Group in affiliates. The ultimate parentof the Group is GMO Internet, Inc. The Company’s Group is engaged in the businesses of Payment Processing
Business, Money Service Business and Payment Enhancement Business. (see ⑦ Segment Information).
Basis of preparation②a.

Compliance of consolidated financial statements to IFRSThe consolidated financial statements of GMO-PG consolidated subsidiaries satisfies all the criteria of a
“Designated International Accounting Standards Specified Company” under Article 1-2 of the Regulation On
Terminology, Forms, and Preparation Methods of Consolidated Financial Statements. The consolidated financial
statements are prepared in accordance with International Financial Reporting Standards (IFRS) pursuant to theprovision of Article 93 of the Regulation for Consolidated Financial Statements.

b.

Basis of measurement
The consolidated financial statements of GMO-PG consolidated subsidiaries is presented based on the accounting
principles stated under “③ Significant Accounting Principles”. The balance of assets and liabilities, unlessotherwise stated, have been prepared on a historical cost basis.

c.

Functional and presentation currency
The consolidated financial statements of GMO-PG consolidated subsidiaries are presented in Japanese Yen(“JPY”), which is the functional currency. All figures in JPY are rounded to the nearest thousand JPY.

③

Significant Accounting Policies
The significant accounting principles applied to the consolidated financial statements of the Group are the same asthat applied to consolidated financial statements in the previous fiscal year.

―22―

④

Cash and cash equivalents
Breakdown of cash and cash equivalents are as follows.
(Unit: Thousand yen)
End of previous consolidated End of current consolidated
fiscal year
fiscal year
(September 30, 2020)(September 30, 2021)
Cash and cash equivalents
Deposits toand affiliates

Total
⑤

94,880,807

81,593,965

950,000

22,930,000

95,830,807

104,523,965

subsidiaries

Operating and other receivables
Breakdown of operating and other receivables are as follows.
(Unit: Thousand yen)
End of previous consolidated End of current consolidated
fiscal year
fiscal year
(September 30, 2020)(September 30, 2021)
Accounts receivable - trade5,187,311
5,740,246
Operating loans

6,040,284

8,846,384

1,628,262

92,408△98,461△139,464

Total

12,757,396

14,539,574

Current assets

10,782,296

10,308,474

Non-current assets

1,975,100

4,231,100

12,757,396

14,539,574

Other
Allowanceaccounts

fordoubtful

Total⑥

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

⑦

Segment Information(1) Overview of segment information
The reporting segments of the Group are based on operation segments for which separate financial information
is available and which the Board of Directors regularly reviews to determine the allocation of management
resources and evaluate its performance. The Group has business units and subsidiaries according to the
product and/or service, and each business unit and subsidiaries carries out the business activities for therespective products and/or services and formulates comprehensive strategies covering Japan and overseas.
Therefore, the Group is comprised of the products and services grouped according to the explanation above
and these business segments are further categorized by characteristics and similarity in the markets they aresold into, to be classified under the three reportable segments of Payment Processing Business, Money Service
Business and Payment Enhancement Business.
The main products and services included in the reportable segments are as shown below:
Reportable Segment

Main products and services

Payment Processing

Mainly consists of payment processing for online billing, recurring billing and for offline

Businesspayment processing.

Money Service

Mainly consists of GMO Payment After Delivery, Money Services such as Remittance,

Business

Transaction Lending to provide loans for growth, overseas lending, Early Payment
service to improve merchant’s cash cycle.

Payment

Mainly consists of online advertising service aimed at increasing revenues at

Enhancement

merchants, and Medical Kakumei byGMO, a reservation management system

Business

exclusively for medical institutions.

―23―

(2)

Segment information
Accounting principles applied to the reportable segments are the same as that of consolidated financial
statements.
Performance of segments is as shown below and income for the reportable segments is reconciled as operating
profit or loss. Intersegment transactions are based on equivalent prices at arm’s length transactions.
Previous fiscal year: FY2020 (From October 1, 2019 to September 30, 2020)(Unit: Thousand yen)
Payment
Processing
Business

Money
ServiceBusiness

Payment
Enhancement
Business

23,028,517

9,416,169

601,716

33,046,404－

33,046,404

9,102

－

307

9,410

△9,410－23,037,620

9,416,169

602,024

33,055,814△9,41033,046,404

11,581,232

1,799,806

77,496

13,458,535 △3,069,868

10,388,667

Financial income

－

－

－

－

－

336,467

Financial expense

－

－

－

－

－

△253,029

－

－

－

－

－

517,217

－

－

－

－

－

10,989,321

1,230,150

95,237

22,843

1,348,232

171,839

1,520,071

－

－

－

－

－

－

Revenues
Sales to externalcustomers
Intersegment revenue
Total
Segment profit (△=loss)

Equity method investment
gains (△=loss)
Profit before income taxes ofcontinuing operations
Other items
Depreciation & amortization
Impairment Loss

Adjustments
Consolidated(Note)

Total(Note) Adjustment of segment profit of △¥3,069 mil. consists of general corporate expenses not allocated to any
reportable segment of △¥3,185 mil. and elimination of intersegment transactions of ¥115 mil. General corporate
expenses consist of general and administrative expenses not allocated to any reportable segment.
Current fiscal year: FY2021 (From October 1, 2020 to September 30, 2021)(Unit: Thousand yen)
Payment
Processing
Business

Money
ServiceBusiness

Payment
Enhancement
Business

30,798,812

10,151,451

716,970

41,667,235－

41,667,235

13,993－890

14,884△14,884－

30,812,806

10,151,451

717,861

41,682,119△14,884

41,667,235

14,424,791

2,093,180△106,886

16,411,085 △3,423,878

12,987,207

Financial income

－

－

－

－

－

484,137

Financial expense

－

－

－

－

－

△202,868

－

－

－

－

－

17,166

－

－

－

－

－

13,285,643

1,522,821

138,594

29,628

1,691,044

205,589

1,896,633

21,414－

166,576

187,990－

187,990

Adjustments
Consolidated(Note)

Total

Revenues
Sales to externalcustomers
Intersegment revenue
Total
Segment profit (△=loss)

Equity method investment
gains (△=loss)
Profit before income taxes ofcontinuing operations
Other items
Depreciation & amortization
Impairment Loss

(Note) Adjustment of segment profit of △¥3,423 mil. consists of general corporate expenses not allocated to any
reportable segment of △¥3,543 mil. and elimination of intersegment transactions of ¥119 mil. General corporate
expenses consist of general and administrative expenses not allocated to any reportable segment.

―24―

⑧ Per Share Information(１) Basic earnings per share
The basis for calculation of basic earnings per shares is as follows.
(Unit: Thousand yen)

Profit attributable to owners of parent (△=loss)
Continuing operations
Discontinued operations
Average number of shares
Basic earnings per share (△=loss)
Continuing operations
Discontinued operations

FY2020(From October 1, 2019 to
September 30, 2020)
7,624,148
7,794,879△170,731
73,579,725 shares¥103.62¥105.94¥△2.32

FY2021(From October 1, 2020 to
September 30, 2021)
8,818,820
8,818,820－
74,750,225 shares¥117.98¥117.98¥－(２) Diluted earnings per share
The basis for calculation of diluted earnings per shares is as follows.
(Unit: Thousand yen)

Profit attributable to owners of parent (△=loss)
Adjustment to profit
Profit attributable to owners of parent after dilution(△=loss)
Continuing operations
Discontinued operations
Average number of shares
Effect of dilutive securities
Convertible bond-type bonds with subscription
rightsNumber of shares after effect of dilutive shares
Diluted earnings per share (△=loss)
Continuing operations
Discontinued operations⑨

FY2020(From October 1, 2019 to
September 30, 2020)
7,624,148
38,272

FY2021(From October 1, 2020 to
September 30, 2021)
8,818,820
30,053

7,662,420

8,848,873

7,833,151△170,731
73,579,725 shares

8,848,873－
74,750,225 shares

2,253,894 shares
75,833,619 shares¥101.04¥103.29¥△2.25

1,423,657 shares
76,173,882 shares¥116.17¥116.17¥－Significant subsequent events
None.

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