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

Summary of Consolidated Financial Results
for the Fiscal Year Ended September 2022
(Based on IFRS)
November 4, 2022
Name of listed company: Decollte Holdings Corporation

Listing exchange: Tokyo Stock Exchange

Securities code:

7372

URL: https://www.decollte.co.jp/

Representative:

Kenichiro Kobayashi, CEO

Inquiries:

Kenji Arai, Director and General Manager of the Administration Department

Phone: +81-797-38-3692

Scheduled date for annual general meeting of shareholders: December 22, 2022
Scheduled date for commencing dividend payments:-

Scheduled date for filing securities report:

December 23, 2022

Preparation of supplementary materials on financial results: Yes
Holding of financial results briefing session:

Yes(Amounts are rounded down to the nearest million yen, unless otherwise noted)
1. Financial Results for the Fiscal Year Ended September 30, 2022 (October 1, 2021 to September 30, 2022)(1) Consolidated operating results(Percentage figures represent year-on-year changes)
Revenue

Operating profit

Fiscal year ended
Millions of yen
September 30, 2022
5,322
September 30, 2021
4,592

% Millions of yen
15.9
1,377
25.1
871

Total comprehensive
incomeFiscal year ended
Millions of yen
September 30, 2022
1,018
September 30, 2021
574

Pre-tax profit

%
58.0
109.2

Millions of yen
1,264
735

Basic earnings per
share

Diluted earnings per
share

Yen
190.17102.20

Yen
－
－

%
77.1
233.7

Profit attributable toowners of parent

Profit
%
72.0
131.3

Millions of yen
1,018
574

% Millions of yen
77.1
1,018
233.7
574

Return on equity
Ratio of pre-tax
attributable toprofit to total assets
owners of parent
%
%
25.2
10.7
16.5
6.7

%
77.1
233.7

Ratio of operating
profit to revenue
%
25.9
19.0

(Note) 1. Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2-for-1
share split of its common shares on May 6, 2021. Basic earnings per share is calculated on the assumption that the share
split was conducted at the beginning of the previous fiscal year.
2. Although there exists balance of share acquisition rights in the fiscal year ended September 30, 2021, and the fiscal year
ended September 30, 2022, diluted earnings per share is not presented as there were no dilutive shares having dilutive
effects.
(2) Consolidated Financial Position
Total assets
Fiscal year ended
September 30, 2022
September 30, 2021

Millions of yen
12,588
11,152Equity attributableto owners of parent

Total equity
Millions of yen
4,257
3,827

Ratio of equity
attributableto owners of parent

Millions of yen
4,257
3,827

%
33.8
34.3

Equity attributableto owners of parent per
share
Yen
835.07675.02(Note) 1. Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2-for-1
share split of its common shares on May 6, 2021. Equity attributable to owners of parent per share is calculated on theassumption that the share split was conducted at the beginning of the previous fiscal year.
(3) Consolidated Cash Flows
Cash flows from operating
activities
Fiscal year ended
September 30, 2022
September 30, 2021

Millions of yen
1,152
1,247

Cash flows from investing
activities
Millions of yen
198
(356)

Cash flows from financing
activities
Millions of yen(1,288)(1,189)Cash and cash equivalents at endof period
Millions of yen
1,350
1,288

2. Cash Dividends

Yen

Yen

Yen

Yen

Yen Millions of yen%

Ratio ofdividends toequityattributableto owners ofparent(Consolidated)
%

－

0.00

－

0.00

0.00

－

－

－

－

0.00

－

0.00

0.00

－

－

－

－

0.00

－

0.00

0.00

Annual dividends per share

End of 1stquarter

Fiscal year ended
September 30, 2021
Fiscal year ended
September 30, 2022
Fiscal year ending
September 30, 2023
(Forecast)End of 2ndquarter

End of 3rdquarter

Fiscal year-end

Total
dividends

Total

Payout ratio(Consolidated)－

3. Forecast of Financial Results for the Fiscal Year Ending September 30, 2023 (from October 1, 2022 to September 30, 2023)(Percentage figures represent year-on-year changes)
Revenue

Full year

Millions of
yen
6,928

Operating profit%
30.2

Millions of
yen
1,233

Pre-tax profit%(10.4)

Millions of
yen
1,092

Profit attributable toowners of parent

ProfitMillions ofyen735(13.7)

Millions ofyen735(27.7)%%

Basic earnings per
share

%

Yen

(27.7)

144.35* Notes(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in change in scopeof consolidation): None
(2) Changes in accounting policies, and changes in accounting estimates
1) Changes in accounting policies required by IFRS:No
2) Changes in accounting policies other than those in 1) above: No
3) Changes in accounting estimates:No(3) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022
5,670,000 shares As of September 30, 2021
5,670,000 shares
2) Number of treasury shares at the end of the period
As of September 30, 2022
571,939 shares As of September 30, 2021
49 shares
3) Average number of shares during the period
Fiscal year ended September 30, 2022
5,355,930 shares Fiscal year ended September 30, 2021
5,626,147 shares(Note) Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2for-1 share split of its common shares on May 6, 2021. Total number of issued shares at the end of the period, numberof treasury shares at the end of the period and average number of shares during period are calculated on theassumption that the share split was conducted at the beginning of the previous fiscal year.
(Reference) Overview of Non-consolidated Financial Results
1. Non-consolidated financial results for the fiscal year ended September 30, 2022 (October 1, 2021 to September 30, 2022)(1) Non-Consolidated Operating Results(Percentage figures represent year-on-year changes)
Net sales
Fiscal year ended

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

September 30, 2022

703

(3.9)

141

(19.5)

95

－

527

－

September 30, 2021

732

12.7

175

58.9

(27)

－

(17)

－

Earnings per share
Fiscal year ended

Diluted earnings per share
Yen

Yen

September 30, 2022

98.49

－

September 30, 2021

(3.05)－(Note) 1. Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2-for-1
share split of its common shares on May 6, 2021. Earnings per share is calculated on the assumption that the share split was
conducted at the beginning of the previous fiscal year.
2. Although there exists balance of share acquisition rights in the fiscal year ended September 30, 2021, diluted earnings per
share is not presented as it was a loss. In addition, although there exists balance of share acquisition rights in the fiscal year
ended September 30, 2022, diluted earnings per share is not presented as there were no dilutive shares having dilutive
effects.

3. The Company posted ordinary loss and loss due to the payment of commission for syndicated loans for refinancing in theprevious fiscal year. However, the Company posted ordinary profit and profit due to posting of gain on sale of fixed assets
with transfer of Decollte Asakusa Building in addition to the fact that similar payment of commissions did not occur in thecurrent fiscal year.
(2) Non-Consolidated Financial Position
Total assets
Fiscal year ended

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

September 30, 2022

6,712

2,188

32.6

429.10

September 30, 2021

6,788

2,261

33.3

398.62(Reference) Total equity: As of September 30, 2022: 2,187 million yen As of September 30, 2021: 2,260 million yen(Note) 1. Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2-for-1
share split of its common shares on May 6, 2021. Net assets per share is calculated on the assumption that the share
split was conducted at the beginning of the previous fiscal year.
* This summary of financial results is not subject to review procedures by a public accountant or audit corporation.
* Explanation regarding appropriate use of earnings forecasts, and other notes
1. The earnings outlook and other forward-looking statements contained in this document are based on information currently
available to and certain assumptions that are thought to be reasonable by the Company. Accordingly, such statements should not
be construed as a guarantee of achieving the results by the Company. Actual financial results and the like may differ materially
due to various factors. In addition, since the impact of COVID-19, such as when it will settle down, is still uncertain, we will promptly
disclose revisions to the earnings forecast based on future business activities when such becomes necessary.
2. Financial results briefing material will be posted on the Company’s website (https://ir.decollte.co.jp/) on November 4, 2022.

Contents of Attachment
1. Overview of Operating Results, Etc. ...................................................................................................................................................... 2(1) Overview of Operating Results for Current Fiscal Year ..................................................................................................................... 2(2) Overview of Financial Position for Current Fiscal Year ..................................................................................................................... 3(3) Overview of Cash Flows for Current Fiscal Year ............................................................................................................................... 3(4) Future Outlook ................................................................................................................................................................................. 4
2. Basic Policy Regarding Selection of Accounting Standards.................................................................................................................... 4
3. Consolidated Financial Statement and Significant Notes Thereto ........................................................................................................ 5(1) Consolidated Statement of Financial Position .................................................................................................................................. 5(2) Consolidated Statement of Comprehensive Income ........................................................................................................................ 7(3) Consolidated Statement of Changes in Equity ................................................................................................................................. 8(4) Consolidated Statement of Cash Flows ............................................................................................................................................ 9(5) Notes to Consolidated Financial Statements .................................................................................................................................. 10(Notes on Going Concern Assumption) .......................................................................................................................................... 10(Changes in Accounting Policies) .................................................................................................................................................... 10(Changes in Accounting Estimates)................................................................................................................................................. 10(Segment Information) ................................................................................................................................................................... 10(Assets Held for Sale and Discontinued Operations) ...................................................................................................................... 12(Per Share Information) .................................................................................................................................................................. 13(Significant Subsequent Events) ..................................................................................................................................................... 13

1

1. Overview of Operating Results, Etc.
(1) Overview of Operating Results for Current Fiscal Year
During the fiscal year ended September 30, 2022, the Japanese economy initially showed signs of recovery in consumption
trends for both corporates and consumers as the domestic COVID-19 infection status becomes better and activity restrictions
ease. However, uncertain condition continues due to factors such as sluggish consumption activities brought about by thefollowing sixth and seventh waves of COVID-19 infections, and price hikes on resources and raw materials caused by the Russian
invasion against Ukraine, depreciation of yen, etc. having a negative impact on the domestic economy.
In the bridal industry, the number of couples having conventional wedding ceremonies and receptions is recovering in someareas, but with values towards wedding ceremonies changing at a faster pace amidst the pandemic, it is hovering at a level lower
than the pre-pandemic. There are movements to respond to customers’ demands by shifting to online weddings and ceremonies
with a small number of guests, but full-scale recovery is yet to be seen with the decrease in unit prices due to the decrease in
number of attendees.
On the other hand, while various new forms of weddings are spreading amid the pandemic, photo weddings are also attracting
attraction as a new style of wedding ceremony and the photo wedding market is flourishing including the fact that some business
operators are attempting to newly enter the market.
Under such a business environment, the photo wedding service, the Company’s major business, has been executing measuresin line with the situation by capturing customers’ needs in order to respond to the increasing expectations to photographic
wedding ceremonies. The measures include the increase of online special consultation counters, which enables non-contact
applications to photo shootings with a peace of mind even during the pandemic, and enhancement of Photogenic Journey,
which provides photo wedding services at travel destinations as activity restrictions are being eased. Responding to themounting needs, the Company has opened two new studios in the current fiscal year.
In addition, through the anniversary photo service HAPISTA, the Company has been providing photo services that provide
happy experiences to families centering on their children that they would like to repeat not only for shooting events such as
Omiyamairi (baby’s first visit to a shrine) and Shichigosan (ceremony to wish health and prosperity for young children). The
Company has newly opened two new studios in current fiscal year and will target business expansion through increasing thenumber of new studio openings.
The operating results for the fiscal year ended September 30, 2022, was affected by the sixth and seventh waves of COVID-19
infections, but revenue from both the studio business and the fitness business has surpassed that of the previous fiscal year andposted record high revenue on consolidated basis. In terms of cost, it has increased mainly due to factors including partiallyenhancing advertisements which were restrained in the previous fiscal year for activities to receive future orders and progressionof initiatives to enhance prior employment and cultivation of personnel to respond to the acceleration of new studio openings
and expansion of studio locations. On the other hand, the Company posted 437 million yen of other revenue as a gain on saleof Decollte Asakusa Building transferred on January 31, 2022. As a result, revenue was 5,322 million yen (up 15.9% year on year),an increase of 730 million yen from the previous fiscal year. Operating profit was 1,377 million yen (up 58.0% year on year), an
increase of 506 million yen from the previous fiscal year. Profit attributable to owners of parent was 1,018 million yen (up 77.1%
year on year), an increase of 443 million yen from the previous fiscal year.
In addition, adjusted operating profit, which the Company sees as an objective indicator for judging the target achievement
status of the Group’s management policies, management strategies, etc. or management targets, was 1,438 million yen in thefiscal year ended September 2022, an increase of 7.6% year-on-year. This was due to revenue growth achieved by the growth ofexisting studios as well as contribution from new studios opened since the end of the previous fiscal year having absorbed thecost increase accompanying enhanced advertisement and acceleration of opening new studios.
The overview of each business segment is as described below.
<Studio Business>
The studio business, especially the number of customers visiting studios and the number of photo shootings, was affected by
the sixth and seventh waves of COVID-19 infections during the fiscal year ended September 30, 2022, as mentioned above.
However, revenue and operating profit surpassed those of the previous fiscal year marking record-highs due to increased
average customer spend through provision of various plans and new services responding to the increase in demand for thephoto wedding services and implementation of measures to deal with the pandemic.
Segment results for the fiscal year ended September 30, 2022, were revenue of 5,230 million yen (up 16.2% year on year) andsegment profit of 1,367 million yen (up 53.8% year on year).
･Photo Wedding Service
The number of couples having wedding ceremonies and receptions has recovered in some areas, but as interest in photoweddings and other new styles of wedding ceremonies is increasing due to factors such as the accelerating of a trend of thechange in value placed on wedding ceremonies, an increase in demand from customers toward photo wedding services, leading
to an increase in demand for services with high unit prices among those provided by the Company, such as photo shooting at
multiple sites, including studio plus on-location, and photo shooting in both Japanese and Western style dresses as well as a
rapid increase of the new “Live Retouch” service, a retouch service that the Company launched in May 2022. As such, theaverage unit price at existing studios increased by 10.9% and net sales at existing studios increased by 7.0% year-on-year. In
addition, along with the contribution to the revenue made by the two studios, which opened during the previous fiscal year,
from the beginning of the current fiscal year, Studio TVB Namba Parks and Studio 8 Nagoya Ekimae opened in the fiscal year
ended September 2022. These and other factors have led to an increase in revenue by 685 million yen compared to the previous
fiscal year to 5,057 million yen.

2

･Anniversary Photo Service
Amidst activity restrictions being eased compared to the previous fiscal year, although there was impact of the sixth andseventh waves of COVID-19 infections, one studio opened during the previous fiscal year has contributed to revenue from the
beginning of the current fiscal year, while HAPISTA Esaka and HAPISTA Hirakata T-SITE studios opened during the fiscal year
ended September 30, 2022. These and other factors have led to an increase in revenue by 43 million yen to 173 million yen.
<Others>
For fitness gyms, the figures did not recover to the level before the pandemic due to a sense of caution against COVID-19
remaining, but revenue and operating profit surpassed the level of the previous fiscal year, and returned to being profitable.
Segment results for the fiscal year ended September 30, 2022, were revenue of 91 million yen (up 1.5% year on year) andsegment profit of 10 million yen (the previous year was loss of 17 million yen).
(2) Overview of Financial Position for Current Fiscal Year
(Assets)
Current assets at the end of the current fiscal year was 1,723 million yen, an increase of 93 million yen from the end of theprevious fiscal year. This was mainly attributable to an increase of 62 million yen in cash and cash equivalents. Non-current assets
was 10,865 million yen, an increase of 1,341 million yen from the end of the previous fiscal year. This was mainly attributable toan increase of 1,167 million yen in right-of-use assets, which is equivalent to rent expenses, etc. in effective period of rent
contracts, due to opening of new studios in the current fiscal year.
As a result, total assets was 12,588 million yen, an increase of 1,435 million yen from the end of the previous fiscal year.
(Liabilities)
Current liabilities at the current fiscal year was 1,844 million yen, an increase of 109 million yen from the end of the previous
fiscal year. This was mainly attributable to a decrease of 108 million yen in other current liabilities and a decrease of 28 million
yen in income taxes payable while trade and other payables increased by 126 million yen and lease liabilities increased by 67
million yen. Non-current liabilities was 6,486 million yen, an increase of 896 million yen from the end of the previous fiscal year.
This was mainly attributable to a decrease of 218 million yen in borrowings through repayment of borrowings, etc. while leaseliabilities, which is equivalent to rent expenses, etc. in the effective period of rent contracts, increased by 1,095 million yen due
to opening of new studios during the current fiscal year as well as other factors.
As a result, total liabilities was 8,331 million yen, an increase of 1,005 million yen from the end of the previous fiscal year.
(Equity)
Total equity at the end of the current fiscal year was 4,257 million yen, an increase of 429 million yen from the end of theprevious fiscal year. This was mainly attributable to a decrease in equity with acquisition of 600 million yen of treasury shares
while retained earnings increased by 1,018 million yen.
As a result, ratio of equity attributable to owners of parent was 33.8% (34.3% at the end of the previous fiscal year).
(3) Overview of Cash Flows for Current Fiscal Year
Cash and cash equivalents at the end of the current fiscal year was 1,350 million yen, a 62 million yen increase from the end of
the previous fiscal year. Cash flows from various activities during the current fiscal year and their contributing factors are as
follows.
(Cash flows from operating activities)
Net cash provided by operating activities decreased by 94 million yen from the previous fiscal year and amounted to 1,152
million yen. This was mainly attributable to 1,264 million yen of pre-tax profit from continuing operations and cash increasing
factors including 648 million yen of depreciation and amortization, as well as cash decreasing factors including 437 million yen
of gain on sale of fixed assets and 345 million yen of income taxes paid.
(Cash flows from investing activities)
Net cash provided by investing activities amounted to 198 million yen (the previous fiscal year was use of 356 million yen). Thiswas mainly attributable to a cash increasing factor of 614 million yen of proceeds from sale of property, machinery andequipment from transfer of Decollte Asakusa Building on January 31, 2022, as well as cash decreasing factors including 178
million yen of purchase of investments due to rent contracts, etc. for opening of new studios during the current fiscal year, and
237 million yen of purchase of property, machinery and equipment, and intangible assets.
(Cash flows from financing activities)
Net cash used in financing activities amounted to 1,288 million yen (the previous fiscal year was use of 1,189 million yen). Thiswas mainly attributable to cash decreasing factors including the 601million-yen purchase of treasury shares, 440 million yen of
repayments of lease liabilities due to rent payments, etc. for properties in rent and 243 million yen of repayment of long-termborrowings due to repayment of borrowings.

3

(4) Future Outlook
While the fiscal year ending September 30, 2023, continues to face uncertain conditions such as possible resurgence of COVID19, the Group has presented earnings forecasts for the fiscal year ending September 30, 2023, as follows. It is based onassumption that COVID-19 will have a certain degree of impact even in the fiscal year ending September 30, 2023.
(Consolidated)(Millions of yen)
Revenue

Operating profit

Pre-tax profit

Profit attributableto owners of parent

Fiscal year ending September 30, 2023
(forecast)

6,928

1,233

1,092

735

Fiscal year ended September 30, 2022
(actual results)

5,322

1,377

1,264

1,018

5,322

985

872

720

Fiscal year ended September 30, 2022
(note)

Note: Figures after deducting revenue and expenses occurred with the transfer of fixed assets from those for the fiscal year
ended September 30, 2022 (actual results).
For the photo wedding service of the studio business, which is the Company’s major business, as growth of the photo wedding
market is expected to continue due to factors such as values towards wedding ceremonies changing at a faster pace amidst the
pandemic, the Company will capture demands by opening new studios in addition to enhancing existing studios.
For the photo wedding services, in addition to expecting expansion of net sales at existing studios and full-year contributionof the two studios opened during the fiscal year ended September 30, 2022, to the revenue, the Company plans to open three
new studios in the major metropolitan areas. With such, the Company forecasts an increase in revenue by 1,320 million yen to
6,377 million yen (up 26.1% year on year).
For the anniversary photo services, in addition to expecting full-year contribution of the two studios opened during the fiscal
year ended September 30, 2022, to the revenue, the Company plans to open six new studios. With such, the Company forecasts
an increase in revenue by 274 million yen to 448 million yen (up 158.4% year on year). On the other hand, in order to continue
accelerating the business development in the fiscal year ending September 30, 2023, and beyond to enhance the life eventrelated businesses other than wedding, the Company expects increase in expenses with the advanced investment for improving
management systems, personnel training and such.
For fitness gyms, as a gradual improvement in profit and loss is expected with net sales being in a recovery trend due to theeasing of activity restrictions, the Company expects an increase in revenue by 11 million yen to 103 million yen (up 12.6% year
on year).
Considering the above, the Group expects revenue of 6,928 million yen, operating profit of 1,233 million yen, pre-tax profitof 1,092 million yen and profit attributable to owners of parent of 735 million yen in the fiscal year ending September 30, 2023,
to record an increase in revenue and profit compared with the financial results of fiscal year ended September 30, 2022, whenexcluding the impact of the transfer of fixed assets.
The earnings forecast and other forward-looking statements contained in this document are based on information currently
available to, and certain assumptions that are deemed to be reasonable by, the Company. Actual results may differ materiallyfrom the forecast due to various factors.
2. Basic Policy Regarding Selection of Accounting Standards
The Group adopts International Financial Reporting Standards (IFRS) since the fiscal year ended September 30, 2019, with thetransition date of October 1, 2018, in order to increase international comparability and convenience of financial information in
the capital market.

4

3. Consolidated Financial Statement and Significant Notes Thereto(1) Consolidated Statement of Financial Position(Thousands of yen)Previous fiscal year
(As of September 30, 2021)

Current fiscal year
(As of September 30, 2022)

1,288,296
206,82177,51957,141
1,629,779

1,350,976
222,044
82,03068,2081,723,259

801,617
2,568,645
5,635,785
199,846
304,041
7,492
5,761
9,523,191
11,152,970

938,675
3,735,754
5,635,785
18,715
470,505
60,655
4,928
10,865,020
12,588,280

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables
Inventories
Other current assets
Total current assets
Non-current assets
Property, machinery and equipment
Right-of-use assets
Goodwill
Intangible assets
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets5

(Thousands of yen)Previous fiscal year
(As of September 30, 2021)

Current fiscal year
(As of September 30, 2022)

243,512
158,316
375,583
238,248
302,755
416,622
1,735,037

258,624
284,537
443,447
209,922339,276
308,299
1,844,107

3,344,842
2,005,252
232,3098,214
5,590,619
7,325,656

3,126,473
3,101,078
259,388－6,486,939
8,331,047

155,384
2,754,073
901,390
16,535(68)
3,827,314
3,827,314
11,152,970

155,384
2,753,165
1,919,947
28,888(600,152)
4,257,232
4,257,232
12,588,280

Liabilities and equity
Liabilities
Current liabilities
Borrowings
Trade and other payables
Lease liabilities
Income taxes payable
Contract liabilities
Other current liabilities
Total current liabilities
Non-current liabilities
Borrowings
Lease liabilities
Provisions
Deferred tax liabilities
Total non-current liabilities
Total liabilities
EquityShare capital
Capital surplus
Retained earnings
Other components of equity
Treasury shares
Total equity attributable to owners of parent
Total equity
Total liabilities and equity6(2) Consolidated Statement of Comprehensive Income(Thousands of yen)Previous fiscal year
(October 1, 2020 September 30, 2021)
Continuing operations
Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Finance income
Finance expenses
Pre-tax profit
Income tax expenses
Profit from continuing operations
Discontinued operations
Profit from discontinued operations
ProfitCurrent fiscal year
(October 1, 2021 September 30, 2022)

4,592,196
2,626,309
1,965,887
1,112,949
52,507
33,639871,806
4,591
141,004
735,393
220,293515,099

5,322,418
3,097,444
2,224,974
1,280,249
440,061
6,972
1,377,813
5,467
118,306
1,264,975
246,418
1,018,557

59,877574,977－
1,018,557

Profit attributable to
Owners of parent
Profit574,977
574,977

1,018,557
1,018,557

Other comprehensive income
Comprehensive income－
574,977－
1,018,557

Earnings per share
Basic earnings per share (yen)Continuing operations
Discontinued operations
Total

91.55
10.64
102.20190.17－190.17

7

(3) Consolidated Statement of Changes in Equity
Previous fiscal year (October 1, 2020 - September 30, 2021)(Thousands of yen)
Equity attributable to owners of parent

Balance as of October 1, 2020
ProfitOther comprehensive income
Total comprehensive income
Issuance of new shares
Issuance of share acquisitionrights
Forfeiture of share acquisitionrightsShare-based paymenttransactions
Purchase of treasury shares
Total transactions with owners,
etc.
Balance as of September 30, 2021

Other
componentsof equity

CapitalsurplusRetainedearnings

100,000－－－
55,3842,700,000－－－
54,073

326,412574,977－
574,977
－

－
－
－
－
－

－
－
－
－
－

3,126,412
574,977－
574,977
109,457

3,126,412
574,977－
574,977
109,457

－

－

－

1,625

－

1,625

1,625

－

－

－

－

－

－

－

－

－

－

14,910－14,91014,910

－

－

－

－

(68)

(68)

(68)

55,38454,073－

16,535(68)

125,924

125,924

155,384

2,754,073

901,390

16,535(68)

3,827,314

3,827,314

ShareacquisitionrightsTreasuryshares

Total

Share
capital

Total

Current fiscal year (October 1, 2021 - September 30, 2022)(Thousands of yen)
Equity attributable to owners of parent

Balance as of October 1, 2021
ProfitOther comprehensive income
Total comprehensive income
Issuance of new shares
Issuance of share acquisitionrights
Forfeiture of share acquisitionrightsShare-based paymenttransactions
Purchase of treasury shares
Total transactions with owners,
etc.
Balance as of September 30, 2022

Other
componentsof equity

CapitalsurplusRetainedearnings

155,384－－－－

2,754,073－－－－

901,390
1,018,557－
1,018,557－

16,535
－
－
－
－

(68)
－
－
－
－

3,827,314
1,018,557－
1,018,557－

3,827,314
1,018,557－
1,018,557
－

－

－

－

－

－

－

－

－

325

－

(325)

－

－

－

－

－

－

12,678－12,67812,678－(1,232)－－(600,083)(601,316)(601,316)

－

(907)

－

12,353(600,083)(588,638)(588,638)

155,384

2,753,165

1,919,947

28,888(600,152)

4,257,232

4,257,232

8

ShareacquisitionrightsTreasuryshares

Total

Share
capitalTotal

(4) Consolidated Statement of Cash Flows(Thousands of yen)Previous fiscal year
(October 1, 2020 September 30, 2021)
Cash flows from operating activities
Pre-tax profit from continuing operations
Depreciation and amortization
Loss (gain) on sale of fixed assets
Finance income
Finance expenses
Loss on retirement of property, machinery and equipment
Decrease (increase) in trade and other receivables
Decrease (increase) in inventories
Increase (decrease) in trade and other payables
Increase (decrease) in contract liabilities
Increase (decrease) in other liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Cash flows from operating activities of discontinued operations
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, machinery and equipment, and intangible
assetsPurchase of investments
Proceeds from sale of property, machinery and equipment
Proceeds from sale and redemption of investments
Cash flows from investing activities of discontinued operations
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Proceeds from issuance of shares
Purchase of treasury shares
Proceeds from issuance of share acquisition rights
Fees related to loans
Other, net
Cash flows from financing activities of discontinued operations
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

Current fiscal year
(October 1, 2021 September 30, 2022)

735,393502,772－(4,591)141,004
1,906(11,773)(9,280)(11,512)18,028(68,444)
3,120
1,296,623
17(81,812)32,383(194)
1,247,016

1,264,975
648,335(437,379)(5,467)
118,306
5,227(15,662)(4,511)
56,38736,521(108,172)
14,321
1,572,882
16(75,201)(345,362)－
1,152,334(287,345)(237,105)(54,746)－
6,660(21,505)(356,937)(178,002)
614,000－－
198,892(200,000)
3,287,000(3,847,636)(379,657)
109,457(68)
1,625(114,370)(34,413)(11,838)(1,189,902)(299,823)
1,588,120
1,288,296－－(243,512)(440,150)－(601,883)－－(3,000)－(1,288,546)
62,6801,288,296
1,350,976

(5) Notes to Consolidated Financial Statements(Notes on Going Concern Assumption)
Not applicable.
(Changes in Accounting Policies)
Not applicable.
(Changes in Accounting Estimates)
Not applicable.
(Segment Information)(1) Overview of reportable segments
The Company’s reportable segments consist of the Company’s constituent units for which separate financial information
is available and which are subject to periodic examination in order for the board of directors to determine the allocationof management resources and evaluate results.
The Company has departments for each product/service and each department plans comprehensive strategies anddevelops business activities regarding the product/service it handles.
The Company consists of segments for each product/service based on departments and the studio business is thereportable segment.
The studio business provides photo wedding services, shooting and photo processing of anniversary photos andproduction of albums, etc.
(2) Information on reportable segments
Accounting policies for reportable segments are the same as the Group’s accounting policies applied for the preparationof the consolidated financial statements.
Previous fiscal year (October 1, 2020 - September 30, 2021)(Thousands of yen)Amountrecorded in
Adjustments
consolidated(Note) 2
financialstatements

Reportable segment
Studio business

Other(Note) 1

Total

Total

Revenue
Revenue from externalcustomers

4,501,907

4,501,907

90,2894,592,196－

4,592,196

Intersegment revenue

－

－

－

－

－

－

4,501,907

4,501,907

90,2894,592,196－

4,592,196

889,263889,263(17,456)

871,806－

871,806

Finance income

－

－

－

－

－

4,591

Finance expenses

－

－

－

－

－

141,004

Pre-tax profit

－

－

－

－

－

735,393

Depreciation and amortization

482,893482,893

19,878502,772－

502,772

Capital expenditures

944,907944,907219

945,126－

945,126

10,446,123

10,446,123

158,581

10,604,704

548,265

11,152,970

Total
Segment profit (loss)

Reportable segment assets(Note) 1. “Other” consists of business segments not included in reportable segments such as fitness.
2. Adjustments of segment assets include surplus assets (cash and cash equivalents) held mainly for general corporate
purposes.

10

Current fiscal year (October 1, 2021 - September 30, 2022)(Thousands of yen)Amountrecorded in
Adjustments
consolidated(Note) 2
financialstatements

Reportable segment
Studio business

Other(Note) 1

Total

Total

Revenue
Revenue from externalcustomers

5,230,780

5,230,780

91,637

5,322,418－

5,322,418

Intersegment revenue

－

－

－

－

－

－

5,230,780

5,230,780

91,637

5,322,418－

5,322,418

Segment profit

1,367,252

1,367,252

10,561

1,377,813－

1,377,813

Finance income

－

－

－

－

－

5,467

Finance expenses

－

－

－

－

－

118,306

Pre-tax profit

－

－

－

－

－

1,264,975

630,738

630,738

17,597648,335－

648,335

Capital expenditures

1,567,141

1,567,141

31

1,567,172－

1,567,172

Reportable segment assets

11,936,900

11,936,900

129,817

12,066,718

521,562

12,588,280

Total

Depreciation and amortization(Note) 1. “Other” consists of business segments not included in reportable segments such as fitness.
2. Adjustments of segment assets include surplus assets (cash and cash equivalents) held mainly for general corporate
purposes.

11

(Assets Held for Sale and Discontinued Business)
The Group classifies business segments that have been already disposed or classified to be held for sale as discontinued
business.
(1) Disposal group classified to be held for sale
Not applicable.
(2) Discontinued operations
The Group resolved the transfer of its wedding business on September 29, 2020, and transferred the business to BestAnniversary Inc. on November 30, 2020. Therefore, the wedding business is classified as discontinued operations in theprevious fiscal year.
1) Profit or loss from discontinued operations
Profit or loss from discontinued operations is as follows.
(Thousands of yen)Previous fiscal year
(October 1, 2020 - September 30, 2021)

Current fiscal year
(October 1, 2021 - September 30, 2022)

Revenue

198,462－

Expenses

106,976－

Pre-tax profit from discontinued
operations

91,486－

Corporate income tax expenses

31,608－

Profit from discontinued operations

59,877－

Profit (loss) from discontinued operations

2) Cash flows from discontinued operations
Cash flows from discontinued operations are as follows.
(Thousands of yen)Previous fiscal year
(October 1, 2020 - September 30, 2021)

Current fiscal year
(October 1, 2021 - September 30, 2022)

Cash flows from operating activities

(194)

－

Cash flows from investing activities(21,505)－

Cash flows from financing activities(11,838)－(33,539)－

Cash flows from discontinued business

Total

12

(Per Share Information)(1) Basis for calculating basic earnings per share

Previous fiscal year
(October 1, 2020 - September 30, 2021)

Current fiscal year
(October 1, 2021 - September 30, 2022)

Profit attributable to owners of parent
1,018,557
574,977(thousand yen)
1,018,557
515,099
Continuing operations
59,877－
Discontinued operations
Weighted average number of common
5,626
5,355
shares (thousand shares)
190.17
Basic earnings per share (yen)102.20190.17
Continuing operations
91.55
Discontinued operations
10.64－(Note) Based on a resolution made at the Board of Directors’ meeting held on April 15, 2021, the Company conducted a 2-for-1 share
split of its common shares on May 6, 2021. Basic earnings per share are calculated on the assumption that the share split was
conducted at the beginning of the previous fiscal year.
(2) Diluted earnings per share
As there were no dilutive shares having dilutive effects, diluted earnings per share are the same as basic earnings per
share.
(Significant Subsequent Events)
Not applicable.

13