Non-Consolidated Balance Sheet
March 31, 2020 and 2019

thousands of yen

ASSETS

2019

Current assets
Cash and bank deposits
Notes receivable
Accounts receivable (Note 3)
Allowance for doubtful accounts
Merchandise
Advanced payments
Short-term loans receivable (Note 3)
Other current assets
Total current assets
Noncurrent assets
Investment securities
Investments in affiliated companies
Guarantee deposits
Lease deposits for office rentLong-term loans receivable
Furniture and fixtures (Note 2)
Insurance fund
Other noncurrent assets
Allowance for doubtful accounts
Total noncurrent assets
Total assets￥702,666

March 31

thousands of U.S.
dollars (Note 1)

2020￥

751,702

2020
$

6,896

529,229

480,118

4,404

1,693,514

1,595,036

14,633-25,000-35,000-322

1,059,932

940,674

8,630

28,488

148,708

1,364

8,140

37,136340

25,793

76,342700

4,022,764

3,994,719

36,648444,552

590,793

5,420

262,449

262,449

2,407

193,453

143,502

1,316

93,694

95,867879

14,334830

793,352

101,099927

60,592

66,959614

15,087

16,267

149-16,180-1491,177,516

1,261,588

11,574￥5,200,281￥

5,256,308$

48,223￥

524,583￥

456,905$

4,191

LIABILITIES and SHAREHOLDERS’ EQUITYCurrent liabilities
Notes payable
Accounts payable (Note 3)
Accrued expenses
Short-term loans payable
Current portion of long-term loans payable
Advances received
Income taxes payable
Provision for employees' bonuses
Other current liabilities
Total current liabilities
Noncurrent liabilities
Long-term loans payable
Guarantee deposits received
Provision for retirement benefits
Noncurrent liabilities
Total liabilities
Shareholders' equity
Capital stock
Retained earnings
Legal retained earnings
Voluntary earned reserve
Retained earnings brought forward
Treasury shares
Total shareholders' equity
Total liabilities and shareholders' equity￥

556,648

560,850

107,877

93,9605,145
862

315,000

475,000

4,357

414,500

161,000

1,477

73,50236,003330

89,716

93,080853

143,224

187,036

1,715

15,91875,631693

2,240,970

2,139,467

19,628162,000

60,500555

13,595

13,663125

54,79567,818622

230,391

141,982

1,302

2,471,3622,281,450

20,93050,00050,000458

12,50012,500114

2,270,000

2,520,000

23,119412,524

408,463

3,747-16,105-16,105-148

2,728,919

2,974,858

27,2925,200,281￥

5,256,308$

Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.
2. Accumulated Depreciation
68,91993,864$￥￥
3. Receivables and payables from and to subsidiaries
accounts receivable264,590
183,599
short-term loan receivable
8,140
37,136accounts payable
4,445
8,540

1

48,223

861
1,684
340
78

Non-consolidated Statement of Income
for the years ended March 31, 2020 and 2019

thousands of U.S.
dollars (Note 1)

thousands of yen
Years ended March 31

Sales (Note 2)
Cost of sales (Note 2)
Gross profit
Operating expenses
Operating profit
Non-operating income
Non-operating expenses
Ordinary profit
Income before income taxes
Corporate income taxes
Net profit

2019￥ 10,049,818 ￥9,995,634

7,706,325

7,630,263

70,002

2,343,493

2,365,370

21,7001,964,368

2,055,221

18,855379,124

310,149

2,845

174,372

244,739

2,245

88,443140,800

1,291

465,053

414,0883,798

465,053

414,088

3,798

160,000

145,000

1,330￥

305,053 ￥

2020

2020

$

91,703$

269,088

2,468

Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.
2. Transactions with subsidiaries
1,413,938 ￥
1,016,169$￥
sales
64,917
116,681
cost of sales

9,322
1,070

Non-consolidated Statement of Changes in Equity
for the year ended March 31, 2020 and 2019

thousands of yen
Capital stock

Retainedearnings

Voluntary
retainedearnings

Retainedearnings
brought
forward

Total retained
earnings

Balance at April 1, 2018
Net income
Dividend of surplus
Provision of voluntary retained earnings
OthersTotal changes of items during period
Balance at March 31, 201950,00012,5002,020,000

375,991

2,408,491

2,443,691

2,443,691

305,053

305,053

305,053

305,053-18,520-18,520-18,520-18,520

Balance at April 1, 2019
Net income
Dividend of surplus
Provision of voluntary retained earnings
OthersTotal changes of items during period
Balance at March 31, 2020

250,000-250,000

Total
shareholders' Total net assets
equityTreasuryshares-14,800-1,305-1,305-1,305--250,000

36,533

286,533-1,305285,228

285,228

50,00012,5002,270,000

412,524

2,695,024-16,105

2,728,919

2,728,919

50,00012,5002,270,000

412,524

2,695,024-16,105

2,728,919

2,728,919

269,088

269,088

269,088

269,088-23,150-23,150-23,150-23,150

250,000-250,000-4,061--

250,000-4,062245,938-245,938

245,938

50,00012,5002,520,000

408,463

2,940,963-16,105

2,974,858

2,974,858

thousands of U.S. dollars (Note 1)
Capital stock

Retainedearnings

Voluntary
retainedearnings

Retainedearnings
brought
forward

Total retained
earnings

Balance at April 1, 2018
Net income
Dividend of surplus
Provision of voluntary retained earnings
OthersTotal changes of items during period
Balance at March 31, 2019

458

114

18,532

3,449

22,096

22,41922,419

2,798

2,798

2,798

2,798

-170

-170

-170

-170

Balance at April 1, 2019
Net income
Dividend of surplus
Provision of voluntary retained earnings
OthersTotal changes of items during period
Balance at March 31, 2020

2,293

-2,293

Total
shareholders’ Total net assets
equityTreasuryshares-136-12-12-12-

-

2,293

335

2,628

-12

2,616

2,616

458

114

20,825

3,784

24,725-148

25,03525,035458

114

20,825

3,784

24,725-148

25,03525,035

2,468

2,468

2,468

2,468

-213

-213

-213

-213

2,293

-2,293--2,293-38

2,256-

2,256

2,256458

114

23,1193,747

26,981-148

27,292

27,292

Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.

2

[Reference Materials]
Note:

Financial Statements in accordance with Japanese Companies Act were reviewed by Kuno Yasunari CPA Firm.
These statements translated into English was made for reference.

Consolidated Balance Sheets
March 31, 2020 and 2019

thousands of U.S.
dollars (Note 1)

thousands of yen
March 312019
2020

ASSETS
Current assets
Cash and bank deposits
Notes and accounts receivable
Merchandise
Other current assets
Total current assets
Noncurrent assets
Investment securities
Long-term loans receivable
Furniture and fixtures
Other noncurrent assets
Allowance for doubtful accounts
Total noncurrent assets
Total assets

￥2020
$

1,099,982

1,325,704

2,525,006

2,201,556

12,162
20,197

1,227,588

1,230,986

11,29376,353

267,035

2,449

4,928,930

5,025,283

46,103

612,441

590,793

5,420

14,334830

7118,566

231,446

2,123

380,267

358,214

3,286--16,180-149

1,125,609

1,165,104

10,689￥6,054,540￥

6,190,387$

56,792￥

1,059,388￥

1,040,763

$

9,548

LIABILITIES and NET ASSETS
Current liabilities
Notes and accounts payable
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Provision for employees' bonuses
Other current liabilities
Total current liabilities
Noncurrent liabilities
Long-term loans payable
Guarantee deposits receivedProvision for retirement benefits
Noncurrent liabilities
Total Liabilities
Net assets
Shareholders’ equity
Capital stock
Retained earnings
Treasury shares
Accumulated other comprehensive income(loss)
Foreign currency translation adjustment
Non-controlling interests
Total net assets
Total liabilities and net assets￥315,000

475,000

4,357

414,500

161,000

1,477

139,471

109,186

1,001

143,224

187,036

1,715

204,027

275,3812,526

2,275,611

2,248,368

20,627

162,000

60,500555

13,595

13,663125

54,79567,818622

230,391

141,982

1,302

2,506,002

2,390,351

21,92950,00050,000458

3,505,366

3,828,082

35,120-16,105-16,105

-148

9,276

-64,848

-595

-

2,907

26

3,548,537

3,800,036

34,862

6,054,540￥

6,190,387$Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.

356,792

[Reference Materials]

Consolidated Statement of Income
for the year ended March 31, 2020 and 2019

thousands of yenYears ended March 312019
2020
11,453,397 ￥
11,323,343

￥

Sales
Cost of sales
Gross profit
Operating expenses
Operating profit
Non-operating income
Non-operating expenses
Ordinary profit
Income before income taxes
Income taxes
Net profit
Profit (loss) attributable to non-controlling interests
Net profit attributable to owners of parent￥

thousands of U.S.
dollars (Note 1)
2020$103,883

8,285,428

8,238,021

75,5783,167,969

3,085,321

28,3052,290,513

2,481,603

22,767

877,455

603,717

5,538

56,308103,943953

88,940141,687

1,299

844,824565,974

5,192

844,824565,974

5,192

297,021

206,498

1,894

547,802359,467

3,297--1,638-16

547,802￥361,115$

3,312

Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.

Consolidated Statement of Change in Equity
for the year ended March 31, 2020 and 2019

thousands of yen
Capital stock

Balance at April 1, 2018
Net income
Dividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 201950,000

Balance at April 1, 2019
Net income
Dividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 2020

Accumulated
Total
other
Non-controlling Total net assets
shareholders' comprehensive
interests
equityincome(loss)

Legal
retainedearnings

Treasuryshares2,976,236-14,800

3,011,436

13,097-3,024,534

547,802547,802547,802-18,520-18,520-18,520-152-1,305-1,458-1,458-3,821-3,821-

529,130-1,305

527,824-3,821-

524,003

50,0003,505,366-16,105

3,539,261

9,276

-

3,548,537

50,0003,505,366-16,105

3,539,261

9,276

-

3,548,537-23,150-23,150-23,150

361,115

361,115

361,115-15,249-15,249-15,249-74,124

2,907-71,217-

322,715-

322,715-74,124

2,907

251,498

50,0003,828,082-16,105

3,861,976-64,8482,907

3,800,036

thousands of U.S. dollars (Note 1)
Capital stock

Balance at April 1, 2018
Net incomeDividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 2019458

Balance at April 1, 2019
Net income
Dividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 2020

Legalretainedearnings

27,304

Accumulated
Total
other
Non-controlling Total net assets
shareholders' comprehensive
interests
equityincome(loss)

Treasuryshares-136

5,025-170-2-1227,627120-

27,748

5,025

5,025

-170

-170

-14

-14-36--36-

4,854

-12

4,842

-36

-

4,807

458

32,159-148

32,47085-

32,555458

32,159-148

32,47085-

32,555

-213

-213

-213

3,312

3,312

3,312

-140-140-140-681

26-654-

2,960

-

2,960

-681

26

2,307

458

35,120-148

35,430-595

26

34,862

Notes: 1. The translations of Japanese yen amounts into U.S. dollar amounts are added solely for the convenience of readers outside Japan and have been made at the rate of￥109 to $1, the approximate rate of exchange at March 31, 2020.

4