Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2021
(Based on Japanese GAAP)
February 9, 2022
Company name:Kansai Food Market Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

9919
URL http://www.kansai-foodmarket.co.jp/
President of Representative Director
Katsuhiro Hayashi

Inquiries:Director and General Manager of
Administrative Planning Office

Gaku Watanabe

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 10, 2022–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:Yes
No072-744-5701(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2021
192,788
–
4,027
–
3,365
–
2,919
–
Nine months ended December 31, 2020
99,316
4.6
2,677
88.1
2,957
75.3
1,973
74.4
Note: Comprehensive income

Nine months ended December 31, 2021
Nine months ended December 31, 2020

¥2,873 million [–%]
¥2,135 million [105.0%]

Earnings per share

Diluted earnings per share

Yen87.81
64.83

Nine months ended December 31, 2021
Nine months ended December 31, 2020

Yen––Notes: 1. In the nine months ended December 31, 2021, share exchanges were conducted resulting in the Company becoming the wholly owningparent company in the share exchanges and Izumiya Co., Ltd. and Hankyu Oasis Co., Ltd. becoming the wholly owned subsidiaries in
the respective share exchange, and this has been reflected in the consolidated financial statements with December 31, 2021 as thedeemed acquisition date for both cases.
As the share exchanges are treated as reverse acquisitions under business combination accounting, the operating results of the ninemonths ended December 31, 2021 are presented including the operating results of Izumiya Co., Ltd. and Hankyu Oasis Co., Ltd.
As the scope of this report is different from prior periods, the percentage changes from the same quarter of the previous year are notstated.
2. As the Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. fromthe beginning of the first quarter of the fiscal year ending March 31, 2022, each figure for the nine months ended December 31, 2021 is
the figure after the application of the said accounting standard, etc.
(2) Consolidated financial position
Total assets
As of December 31, 2021
As of March 31, 2021
Reference: Equity

Net assets

Millions of yen
149,81754,720Millions of yen
59,794
34,595

As of December 31, 2021

¥59,794 million

As of March 31, 2021

¥34,595 million

1

Equity ratio
%
39.9
63.2

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
8.008.00

Yen––Yen
10.00

Yen
18.00

10.00

18.00

Year ended March 31, 2021
Year ending March 31, 2022
Year ending March 31, 2022 (Forecast)

TotalNotes: 1. Revision of cash dividend forecast most recently announced: Yes
2. Breakdown of year-end dividend for the fiscal year ended March 31, 2021
Ordinary dividend¥8.00
Special dividend¥2.00
3. Breakdown of year-end dividend for the fiscal year ending March 31, 2022
Ordinary dividend¥8.00
Special dividend¥2.00
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
289,100–
5,300–
4,400–
7,800–
196.57
Note: Revision of consolidated financial results forecast most recently announced: Yes
4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):

Yes

Note: Although this matter does not constitute a change in specified subsidiaries in the nine months ended December 31, 2021, KS Company
Split Preparation Co., Ltd. was newly established on September 22, 2021 in order to transition to a holding company structure through anabsorption-type company split with an effective date of February 1, 2022, and is included in the scope of consolidation. KS Company Split
Preparation Co., Ltd. changed its trade name to Kansai Super Market Ltd. on February 1, 2022.
(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021

63,858,804 shares As of March 31, 2021

31,940,954 shares

Number of treasury shares at the end of the period
As of December 31, 2021

4,865,824 shares As of March 31, 2021

1,951,827 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2021

33,242,695 shares Nine months ended December 31, 2020

30,443,164 shares

Note: On December 15, 2021, a share exchange was conducted resulting in the Company becoming the wholly owning parent company in theshare exchange and Izumiya Co., Ltd. becoming the wholly owned subsidiary in the share exchange, and a share exchange was conductedresulting in the Company becoming the wholly owning parent company in the share exchange and Hankyu Oasis Co., Ltd. becoming thewholly owned subsidiary in the share exchange, and the Company issued shares of common stock. As a result, total number of issued
shares at the end of the period have increased.
* Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters(Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual performance and other results may differ materially due to various factors.

2

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of December 31, 2021

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

6,879
1,748

17,370
14,235Merchandise and finished goods
Raw materials and supplies

2,454
64

7,310
170

Short-term loans receivable
Accounts receivable - other–
965

2,502
6,306

Other
Allowance for doubtful accounts

497
–

2,072
(83)

12,61049,886

Buildings and structures, net
Machinery, equipment and vehicles, net

9,837
231

31,3571,063

LandConstruction in progress

21,072–35,557
101

Other, net

2,391

4,419

Total property, plant and equipment

33,53372,499Goodwill
Other–
439

2,324
1,619Total intangible assets

439

3,943

Investments and other assets
Investment securities

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

1,755

1,179

Long-term loans receivable
Guarantee deposits

–
4,374

3,133
12,902Retirement benefit asset
Deferred tax assets

970
980

1,226
4,395

Other
Allowance for doubtful accounts

55
–

657
(6)

Total investments and other assets
Total non-current assets
Total assets

3

8,137

23,48842,10999,93154,720149,817(Millions of yen)
As of March 31, 2021

As of December 31, 2021

Liabilities
Current liabilities
Accounts payable - trade

7,585

33,898

1,204
2,666

1,168
14,978

Lease obligations
Income taxes payable

426
631

972
865

Advances received
Provision for bonuses

82
1,026

1,923
832

Other

1,653

12,893

Total current liabilities

15,27767,532

1,314

1,199

Current portion of long-term borrowings
Accounts payable - otherNon-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability–49876

4,350

Long-term accounts payable - other
Lease obligations

6622

79
10,599

1,499
517

3,865
2,208

10

137

Long-term guarantee deposits
Asset retirement obligations
Other
Total non-current liabilities

4,846

22,49020,12490,023

Share capital
Capital surplus

9,862
10,906

9,862
54,671Retained earnings
Treasury shares

15,551(1,860)2,916(7,383)

Total shareholders' equity

34,46060,066

253–

Revaluation reserve for landRemeasurements of defined benefit plans

–
(117)

(479)
208

Total accumulated other comprehensive income

135

(271)

34,59559,79454,720149,817

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2020

December 31, 2021

Net sales
Cost of sales

99,31673,987

192,788
130,134

Gross profit

25,32962,653

Selling, general and administrative expenses

22,651

58,626

Operating profit

2,677

4,027

Interest income
Dividend income

421

170

Share of profit of entities accounted for using equity method
Other

6279–
133

Total non-operating income

312

151

Non-operating income

Non-operating expenses
Interest expenses

16284

Contributions for group operations
Other–
15404
123

Total non-operating expenses

32813

2,957

3,365

Gain on sale of non-current assets
Gain on sale of investment securities

–
4164–

Gain on bargain purchase–

231

Total extraordinary income

4396

Loss on sale and retirement of non-current assets
Loss on closing stores and others

16–

88
12

Impairment losses
Provision for loss on store closings

–
180
–

Ordinary profit
Extraordinary income

Extraordinary losses

17181

Profit before income taxes

Total extraordinary losses

2,945

3,581

Income taxes - current
Income taxes - deferred

678
292

617
44

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

5971

661

1,973

2,919

––

1,973

2,919

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2020

December 31, 2021

1,973

2,919

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax

167
0–
(45)

Share of other comprehensive income of entities accounted
for using equity method(5)–

Total other comprehensive income

162

(45)

2,135

2,873

2,135

2,873––

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6