Non-Consolidated Balance Sheet
March 31, 2019 and 2018

thousands of yen
March 31ASSETS2018

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
Total noncurrent assets
Total assets￥￥

977,822

thousands of U.S.
dollars (Note 1)

2019￥702,666

2019
$

6,330

530,314529,229

4,767

1,813,152

1,693,514

15,256-25,000-25,000-226

884,219

1,059,932

9,548

25,00628,488

256

7,992

8,140

73

36,04325,793232

4,249,552

4,022,764

36,241

442,771444,552

4,004

222,689

262,449

2,364

193,401

193,453

1,742

93,264

93,694844

13,534

14,334129

68,06593,352841

54,22660,592545

15,08715,087135

1,103,039

1,177,516

10,6085,352,592￥5,200,281$

46,849579,522￥524,583$

4,725

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￥

633,161

556,648

109,499

107,877

5,014
971

380,000

315,000

2,837

241,619414,500

3,734

66,79773,502

662

95,14689,716808

145,402143,224

1,290

10,263

15,918143

2,261,412

2,240,970

20,188576,500

162,000

1,459

17,673

13,595122

53,31354,795493

647,487

230,391

2,075

2,908,900

2,471,362

22,26450,00050,000450

12,50012,500112

2,020,000

2,270,000

20,450375,991

412,524

3,716-14,800-16,105-145

2,443,691

2,728,919

24,584

5,352,592￥

5,200,281$

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￥111 to $1, the approximate rate of exchange at March 31, 2019.
2. Accumulated Depreciation
67,58568,919$￥￥
3. Receivables and payables from and to subsidiaries
accounts receivable
266,318
264,590
short-term loans receivable
7,9928,140
accounts payable
16,1344,445

146,849

620
2,383
7340

Non-consolidated Statement of Income
for the years ended March 31, 2019 and 2018

thousands of yen
Years ended March 31
2018
2019$
￥ 10,236,398 ￥ 10,049,818

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￥thousands of U.S.
dollars (Note 1)
2019
90,538

7,944,290

7,706,325

2,292,108

2,343,493

69,42621,112

1,863,624

1,964,368

17,697428,483

379,124

3,415

219,729

174,372

1,570

191,847

88,443796

456,365

465,0534,189

456,365

465,053

4,189

165,000
291,365 ￥

160,000
305,053

1,441
2,748

$

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￥111 to $1, the approximate rate of exchange at March 31, 2019.
2. Transactions with subsidiaries
1,358,968 ￥$￥
1,413,938
sales
66,54664,917
cost of sales12,738
584

Non-consolidated Statement of Changes in Equity
for the year ended March 31, 2019 and 2018

thousands of yen
Capital stock

Retainedearnings

Voluntary
retainedearnings

Retainedearnings
brought
forward

Total retained
earnings

Balance at April 1,2017
Net income
Dividend of surplus
Provision of voluntary retained earnings
Total changes of items during period
Balance at March 31, 2018

50,00012,5001,770,000

353,145

2,135,645

2,170,845

2,170,845

291,365

291,365

291,365

291,365-18,520-18,520-18,520-18,520--250,000

22,845

272,845-272,845

272,845

50,00012,5002,020,000

375,991

2,408,491-14,800

2,443,691

2,443,691

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

2,408,491-14,800

2,443,691

2,443,691

305,053

305,053

305,053

305,053-18,520-18,520-18,520-18520250,000

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

250,000-250,000-1,305-1,305-1,305--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

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

Retainedearnings

Voluntary
retainedearnings

Retainedearnings
brought
forward

Total retained
earnings

Balance at April 1,2017
Net income
Dividend of surplus
Provision of voluntary retained earnings
Total changes of items during period
Balance at March 31, 2018

450

112

15,945

3,181

19,24019,557

19,557

2,624

2,624

2,624

2,624

-167

-167

-167

-167

--

2,252

205

2,458

-

2,458

2,458450112

18,1983,387

21,698-134

22,01522,015

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

450

112

18,1983,387

21,698-134

22,01522,015

2,748

2,748

2,748

2,748

-167

-167

-167

-167

2,252

Total
shareholders’ Total net assets
equityTreasuryshares-134-2,252

2,252-2,252-12-12-12

--

2,252

329

2,581

-12

2,569

2,569

450

112

20,4503,716

24,279-145

24,584

24,584

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￥111 to $1, the approximate rate of exchange at March 31, 2019.

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, 2019 and 2018

thousands of U.S
dollars (Note 1)

thousands of yen
March 3120182019ASSETS
Current assets
Cash and bank depositsNotes and accounts receivable
Merchandise
Other current assets
Total current assets
Noncurrent assets
Investment securities
Long-term loans receivable
Furniture and fixtures
Other noncurrent assets
Total noncurrent assets
Total assets￥

1,572,933￥

1,099,982

2019
$

9,909

2,263,738

2,525,006

22,747

1,055,567

1,227,588

11,05987,51476,353687

4,979,753

4,928,930

44,404570,900

612,441

5,517

13,534

14,334129

73,058

118,566

1,068

398,218

380,267

3,425

1,055,711

1,125,609

10,140￥6,035,465￥

6,054,540$

54,545￥1,200,016￥

1,059,388

$

9,544

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 received
Provision for retirement benefits
Noncurrent liabilities
Total liabilities

Net assets
Shareholders' equity
Capital stock
Retained earnings
Treasury sharesAccumulated other comprehensive income(loss)
Foreign currency translation adjustment
Total net assets
Total liabilities and net assets￥380,000

315,000

241,619414,500

2,837
3,734

120,898

139,471

1,256

145,402143,224

1,290

275,507204,027

1,838

2,363,442

2,275,611

20,501

576,500

162,000

1,459

17,673

13,595122

53,31354,795493

647,487

230,391

2,075

3,010,930

2,506,002

22,57650,00050,000450

2,976,236

3,505,366

31,579-14,800-16,105-146

13,0979,276

83

3,024,534

3,548,537

31,9686,035,465￥6,054,540$

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￥111 to $1, the approximate rate of exchange at March 31, 2019.

354,545

[Reference Materials]
thousands of U.S.

Consolidated Statement of Income
thousands of yen
Years ended March 31

for the year ended March 31, 2019 and 2018

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

Net profit attributable to owners of parent￥

2018
11,277,762

2019￥11,453,397

dollars (Note 1)
2019$

103,183

8,387,401

8,285,428

74,6432,890,360

3,167,969

28,5402,112,198

2,290,513

20,635778,162

877,455

7,905

137,789

56,308507

191,867

88,940801

724,084

844,824

7,611

724,084

844,824

7,611

263,338

297,0212,675

460,745547,802

4,935

-526

--

461,272￥

547,802$4,935

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￥111 to $1, the approximate rate of exchange at March 31, 2019.

Consolidated Statement of Change in Equity
for the year ended March 31, 2019 and 2018

thousands of yen
Accumulated
Total
Non-controlling Total net assets
othershareholders' comprehensive
interests
equityincome(loss)

Capital stock

Retainedearnings

TreasurysharesBalance at April 1,2017
Net income
Dividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 2018

50,0002,532,586-14,800-443,650

50,0002,976,236-14,800

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, 201950,0002,976,236-14,800

3,011,436

2,567,786-2,402

1,716

2,567,100

461,272

461,272

461,272-18,520-18,520-18,520

898

898

898
15,500-1,716

13,784

443,650

15,500-1,716457,434

3,011,436

13,097-3,024,534

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

thousands of U.S. dollars (Note 1)
Accumulated
Total
other
Non-controlling Total net assets
shareholders' comprehensive
interests
equityincome(loss)

Capital stock

Retainedearnings

TreasurysharesBalance at April 1,2017
Net income
Dividend of surplus
OthersNet changes of items other than shareholders' equity
Total changes of items during period
Balance at March 31, 2018450

22,816

-134

-

3,996

-

450

26,812-134

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

450

26,812-134

27,130

-

4,766

-12

4,755

-35

-

4,720

Balance at March 31, 2019450

31,579-146

31,88583-

31,96823,133

-22

15

4,155

4,155

-167

-167

-167

8

8

8
139

-15

124

3,996

139

-15

4,121

27,130117-

27,248117-

27,248

4,935

4,935

4,935

-167-167-167-2-12-14-14-35-35

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￥111 to $1, the approximate rate of exchange at March 31, 2019.

423,127

4,155