Consolidated Financial Results
for the Fiscal Year Ended February 28, 2022
[Japanese GAAP]
April 8, 2022
Company name: S TRUST Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange, Fukuoka Stock Exchange
Code number: 3280
URL: http://www.strust.co.jp/
Representative: MATSUKAWA Toru, President and Representative Director
Contact: FUJITA Takahisa, Managing Director
Phone: +81-83-229-3280
Scheduled date of Annual General Meeting of Shareholders: May 27, 2022
Scheduled date of commencing dividend payments: May 30, 2022
Scheduled date of filing annual securities report: May 30, 2022
Availability of supplementary briefing material on annual financial results: Not available
Schedule of annual financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended February 28, 2022 (March 1, 2021 to February
28, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net income
Net sales
Operating income
Ordinary income
attributable toowners of parent
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
16,035(2.8)
781(20.2)
654(19.5)441(19.5)
February 28, 2022
16,498
8.3
979
35.9
813
44.8
548
42.1
February 28, 2021
(Note) Comprehensive income: Fiscal year ended February 28, 2022: ¥ 444 million [(19.0)%]
Fiscal year ended February 28, 2021: ¥ 548 million [43.4%]
Net income pershare

Diluted net
income per share

Return on
equityOrdinary
income to total
assetsOperatingincome to net
sales

Yen
Yen%
%
Fiscal year ended
74.24
－
6.5
2.4
February 28, 2022
92.60
－
8.7
3.0February 28, 2021
(Reference) Equity in earnings (losses) of affiliates: Fiscal year ended February 28, 2022: ¥ - million
Fiscal year ended February 28, 2021: ¥ - million%

4.9
5.9(2) Consolidated Financial Position
Total assets

Net assets

Equity ratio

Net assets per share

As ofMillion yen
Million yen%
Yen
February 28, 2022
25,5386,942
27.2
1,167.13
February 28, 2021
28,702
6,566
22.9
1,107.88(Reference) Equity: As of February 28, 2022: ¥6,942 million
As of February 28, 2021: ¥6,566 million(Note) Since the beginning of the fiscal year ended February 28, 2022, the Company has early applied the“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 (revised 2020), published on March31, 2020), etc.

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(3) Consolidated Cash Flows
Cash and cash
Net cash provided by Net cash provided by Net cash provided byequivalents
at end of(used in) financing(used in) operating(used in) investing
activities
activities
periodactivities
Million yen
Million yen
Million yen
Million yen
Fiscal year ended
1,00573(1,953)
5,444
February 28, 2022
(4,920)
(13)
3,995
6,318
February 28, 2021
2. Dividends
Annual dividends

1st quarter- 2nd quarter- 3rd quarterend
end
end

Fiscal year ended
February 28, 2021
February 28, 2022
Fiscal year ending
February 28, 2023
(Forecast)Year-end

Total
dividends

Total

Payout ratio(consolidated)

Dividends tonet assets(consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%%－－

7.00
7.00

－－

7.00
9.00

14.00
16.00

82
95

15.1
21.6

1.3
1.4

－

9.00

－

9.00

18.00

－

3. Consolidated Financial Results Forecast for the Fiscal Year Ending February 28, 2023 (March 1, 2022 toFebruary 28, 2023)(% indicates changes from the previous corresponding period.)
Net income
Net income
Net sales
Operating income
Ordinary income
attributable toper shareowners of parent
Million yen% Million yen% Million yen% Million yen%Yen

16,100
0.4
1,200
53.6
1,000
52.8
700
58.7
117.69Full year(Note) Consolidated financial results forecast for the first half of the fiscal year ending February 28, 2023 has not been
prepared as the Company’s results may fluctuate significantly depending on the time of property delivery. TheCompany has prepared only its full-year consolidated financial results forecast for the same year.

2Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): Yes
New: 1 company (Company name: S TRUST Real Estate Co., Ltd.)
Excluded: - companies (Company name:)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No2) Changes in accounting policies other than 1) above: Yes
3) Changes in accounting estimates: No4) Retrospective restatement: No(Note) For details, please see “3. The consolidated financial statements and primary notes (5) Notes to theconsolidated financial statements (changes in accounting policies)” on page 11 of the attachment (Japaneseversion only).
(3) Total number of issued shares (common stock)1) Total number of issued shares at the end of the period (including treasury stock):February 28, 2022: 6,167,000 shares
February 28, 2021: 6,167,000 shares2) Total number of treasury stock at the end of the period:February 28, 2022: 219,064 shares
February 28, 2021: 240,078 shares
3) Average number of shares during the period:
Fiscal Year ended February 28, 2022: 5,940,624 sharesFiscal Year ended February 28, 2021: 5,918,789 shares(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended February 28, 2022 (March 1, 2021 toFebruary 28, 2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating income
Ordinary income
Net income
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
15,378(4.3)
592(24.4)465(24.0)315(24.2)
February 28, 2022
16,077
9.3
783
34.0
612
33.4
416
31.2
February 28, 2021
Net income per share

Diluted net income pershare

Yen

Yen

53.12
70.30

－－

Fiscal year ended
February 28, 2022
February 28, 2021
(2) Non-consolidated Financial Position

Total assets

Net assets

As ofMillion yen
Million yen
February 28, 2022
24,3776,149
February 28, 2021
27,5885,899(Reference) Equity: As of February 28, 2022: ¥6,149 million
As of February 28, 2021: ¥5,899 million

Equity ratio

Net assets per share%

Yen

25.2
21.4

1,033.94
995.39* These financial results are outside the scope of audit procedures by certified public accountant or audit firm.
* Explanation of the proper use of financial results forecast and other notes
3The earnings forecasts and other forward-looking statements herein are based on information currently
available and certain assumptions deemed reasonable. Actual results may differ significantly from these
forecasts due to a wide range of factors.

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