Summary of Consolidated Financial Statements for FY2022
November 14, 2022
ListedName of listed company:
GMO Payment Gateway, Inc.
Tokyo
exchange:
Stock code:
3769
URL https://www.gmo-pg.com/en/corp/
Representative: Issei Ainoura
President & Chief Executive OfficeDirector, Executive Vice President
Contact:
Ryu Muramatsu(TEL) +81-3-3464-0182
Scheduled date for convocation
Scheduled date ofof the ordinary general
December 18, 2022 commencement for dividend
December 19, 2022
shareholders’ meeting
payment
Scheduled submission date ofDecember 19, 2022
securities report
Supplemental materials preparedYes
for financial results:
Information meeting arranged
Yes(for institutional investors and analysts)
related to financial results:(Amounts rounded down to the nearest one million)

１．Consolidated Financial Statements for FY2022 (From October 1, 2021 to September 30, 2022)(1) Consolidated Financial Statements(Percentages represent year-on-year change)
Revenue
Mil. YenFY2022
FY2021

Operating profit%

50,298 20.7
41,667 26.1

Mil. Yen%

16,249 25.1
12,987 25.0

Profit before
income taxes

Profit aftertaxes

Mil. Yen

Mil. Yen

34,756 161.6
13,285 20.9

Basic earnings per Diluted earnings
share
per share
FY2022
FY2021
Reference:

%

Total

Profit attributable
comprehensive
to owners of parent

income%％Mil. Yen

24,361 171.2
8,982 16.8

24,152 173.9
8,818 15.7

Return on equity
Return on assets
using Profit
using profit before
attributable toincome taxes
owners of parent

Mil. Yen%

35,891 259.5
9,982 20.9

Operating profit
marginMil. Yen

Mil. Yen%%%

318.45117.98314.66116.17

33.8
20.1

14.2
6.5

32.3
31.2

Equity in earnings of affiliates:

FY2022

184

Total equity

Ratio of total equity
Total equity
Total equity
attributable toattributable toattributable toowners of parent to owners of parent
owners of parent
total assets
per share

Million yen

FY2021

17Million yen(2) Consolidated Financial Position
Total assets

FY2022
FY2021

Mil. Yen

Mil. Yen

Mil. Yen%

Yen

273,407
215,455

89,26057,82087,122
55,84531.9
25.9

1,148.73
736.34

Cash flow fromfinancing activities

Closing balance of cash
and cash equivalents(3) Consolidated Cash Flows
Cash flow fromoperating activities
FY2022
FY2021
2.

Cash flow frominvesting activities

Mil. Yen

Mil. Yen

Mil. Yen

Mil. Yen

7,656△6,343△2,443
2,230

2,635
12,781

113,967
104,523

Dividends
Annual dividend
Total
Yen

Mil. Yen%%

59.00 59.00
160.00 160.00
82.00 82.00

4,516
12,248

50.0
50.2
50.3

10.1
17.0

End of Q1 End of Q2 End of Q3 Year-end
FY2021
FY2022
FY2023 (forecast)(Note)

Yen

Yen

Yen

0.00
0.00
0.00

0.00
0.00
0.00

0.00
0.00
0.00

Ratio of
Dividend
dividends to
Payout ratio
equity(consolidated)(consolidated)

Total
Dividend
AmountYen

Breakdown of FY2022 year-end dividend: ordinary dividend ¥79.00, special dividend ¥81.00

―1―

3.

Consolidated Financial Forecast for FY2023 (From October 1, 2022 to September 30, 2023)(Percentages represent year-on-year change)

Revenue

Operating profit

Profit before
income taxes

Profit after tax% Mil. Yen%

Mil. Yen

％

Yen

8.1

5,952

7.9

78.49

12,368 △48.8

163.08Mil. Yen%

Mil. Yen%

Mil. Yen

Q2 of FY2023

28,491

18.4

10,330

24.8

9,648

FY2023

59,10017.5

20,311

25.0

18,837 △45.8 12,635 △48.1

11.0

6,072

ProfitBasic earnings
attributable toper shareowners of parent

Notices:(1)

Changes of important subsidiaries during the period (change of specific subsidiaries that leads to a change in thescope of consolidation): No
Number of new subsidiaries: - (Name:),

Number of excluded subsidiaries: - (Name:)(2)

Changes in the accounting policy / changes in the accounting estimation[1] Changes in accounting policy required by IFRS.: No[2] Changes in accounting policy other than [1]: No[3] Changes in accounting estimations: No(3)

Number of shares issued (common stock)
FY2022: 76,557,545
FY2021: 74,557,545[1] Number of shares issued at the end of the term(including treasury stock)
FY.2021: 714,996[2] Number of treasury shares at the end of the term FY2022: 714,996
FY2022:
74,842,549
FY2021: 73,750,225[3] Average number of shares during the term
(Note 1) Number of treasury shares at the end of the term includes the shares attributed to the directors’
remuneration board incentive plan (BIP) trust and J-ESOP: 709,705 shares for FY2021 and 709,705 sharesfor FY2022.

Reference: Summary of Non-consolidated Financial Statements
1. Non-consolidated Financial Statements for FY2022 (From October 1, 2021 to September 30, 2022)(Percentages represent year-on-year % change)(1) Non-consolidated Financial Statements
Revenue
FY2022
FY2021

Operating profit

Mil. Yen
27,131
22,743

%
19.3
20.4

Basic earnings per
share

Mil. Yen
11,755
8,499

%
38.3
25.3

Mil. Yen
18,2009,700

Net profit
%
87.6
22.2

Mil. Yen
14,587
6,860

%
112.6
28.9

Diluted earnings per
share

Yen
192.3391.78

FY2022
FY2021

Ordinary profit

Yen
187.62
89.09(2) Non-consolidated Financial Position
Total assets
FY2022
FY2021
Reference

Note:

Owner’s equityFY2022

Total equity

Mil. Yen
182,213
154,264

Equity ratio

Mil. Yen
55,39546,24655,395 Mil. yen

FY2021

Total equity per share
%
30.4
30.0

Yen
730.40609.77

46,246 Mil. yen

Non-consolidated financial results are based on J-GAAP standards.

※

These financial statements are not subject to the review procedures.

※

Notes regarding the appropriate use of financial forecast and other important notes

1. The above forecasts are outlooks based on information currently available and include various uncertain factors.
Actual performance may differ substantially from the forecasts due to changes in business conditions and otherfactors. For the assumption on which financial forecasts are based and matters to be considered in using financial
forecasts, please refer to “(5) Earnings forecast” under “1. Qualitative Information on Consolidated Financial
Statements for the Fiscal Year” on page 11 of the attachment.
2. Results Presentation Meeting for Institutional Investors and Analysts is to be held on November 15, 2022. Supporting
materials and a video of the presentation will be promptly made available on the company's website.

―2―

○Table of contents of attachments
１．Qualitative Information on Consolidated Financial Statements ………………………………..………...................

4（1） Consolidated operating results………..…………………………………………………………………………….

4（2） Status of financial position…………………………………………………………………..………………….…

9（3） Status of cash flow position……………………………………………………………………………………….… 10（4） Basic policy on profit distribution and dividends for current and next fiscal year……………………………

10（5） Earnings forecast………………………………………………………………………………………………...…..

11

2．Management Policy..…………………………………………………………………………………………………….....

12（1）Basic policy on corporate management……………...…………………………………………………………….

12（2）Management KPI targets………………………..…………………………..…………………………………….…

12（3）Priority issues to be addressed……………………….………………………………………………………….…

13

3．Basic Stance on Accounting Standard Selection..………………………………………..………………………….....

14

4．Consolidated Financial Statements and Major Notes..…………………………...…………………………………..... 15（1）Consolidated balance sheet…………………………………………………..………….……………………..……

15（2）Consolidated statement of income and statement of comprehensive income………………….………………

17（3）Consolidated statement of changes in equity……………………………………………….………..……….……

19（4）Consolidated statement of cash flows……………………………………………………………..….……….……

20（5）Notes regarding the going concern assumptions……………………………………………………….…….……

22（6）Notes regarding consolidated financial statement………………………………………….…...……

22➀ Reporting entity………………………………………………….………………………………………………

22➁ Basis of preparation …………………………...…………………….…………...……………..…..…………

22③ Significant accounting policies…………………..…………………………………………………………..… 22④ Cash and cash equivalents …………………………..…………….….………………….…………..………

22⑤ Operating and other receivables ………………………………….………………….…..……………...…… 23⑥ Deposits to subsidiaries and affiliates…………..……………….………………………..………………….. 23⑦ Segment information…………………………………………….……………………………………….……..

23⑧ Per share information………………………………………….……………………………….………………. 25⑨ Significant subsequent events…………………………………………………………….…..………………. 25―3―1. Qualitative Information on Consolidated Financial Statements for the Fiscal Year
(1) Consolidated operating results
Forward-looking statements in the document are based on the judgement of GMO-PG and its consolidated subsidiaries
at the end of the fiscal year under review.
Consolidated operating results①

GMO-PG and its consolidated subsidiaries announces its earnings results for the consolidated fiscal year 2022
(October 1, 2021 to September 30, 2022) as follows.
FY2021(From October 1, 2020
to September 30, 2021)(Unit: Thousand yen)
FY2022(From October 1, 2021
YoY change (%)
to September 30, 2022)

Revenue

41,667,235

50,298,354

20.7

Operating profit

12,987,207

16,249,114

25.1

Profit before income taxes

13,285,643

34,756,561

161.6

8,818,820

24,152,140

173.9

Profit attributable to ownersof parent
a. Revenue

Revenue at GMO-PG and its consolidated subsidiaries reached ¥50,298 mi, up by 20.7% YoY. The Payment
Processing Business segment revenue grew thanks to the steady growth of E-Commerce (EC) market for online
billing and recurring billing, coupled with the expansion of services provided to the offline market. The Money
Service Business (MSB) revenue increased from growth of GMO Payment After Delivery transactions (a form of
Buy Now Pay Later or BNPL payment service) and Early Payment service and Lending service to overseas
FinTech operators. Transaction volume, which is the sum total of online billing, recurring billing, offline payment
and GMO Payment After Delivery, grew 37.2% YoY and transaction value grew 41.5% YoY which led the Payment
Processing Business revenue to reach ¥37,978 mil (up 23.3% YoY), Money Service Business revenue of ¥11,402(up 12.3% YoY) and Payment Enhancement Business revenue of ¥942 mil (up 31.3% YoY). For details, pleaserefer to page 6 of “② Results by segment” found under “(1) Consolidated operating results” of “1. Qualitative
Information on Consolidated Financial Statements”.
The impact of COVID-19 to forecasts is stated under “(5) Earnings Forecasts” of “1. Qualitative Information on
Consolidated Financial Statements.”
Revenue breakdown by business model is as follows.
(Unit: Thousand Yen)FY2021(From October 1, 2020
to September 30, 2021)

FY2022(From October 1, 2021
to September 30, 2022)

YoY change (%)

Initial(Initial revenue)

5,314,553

7,335,680

38.0

Stock
(Fixed revenue)
Fee(Transaction processing
revenue)
Spread(Merchant revenue)

6,573,815

7,916,835

20.4

10,865,687

13,663,912

25.8

18,913,179

21,381,925

13.1

41,667,235

50,298,354

20.7

Business model

Total

―4―

b. Operating profit
Operating profit reached ¥16,249 mil (up 25.1% YoY), achieving the full year earnings forecast for this fiscal year
as well as fulfilling the management target of 25% operating profit growth for GMO-PG and its consolidated
subsidiaries.
By segment, Payment Processing Business segment profit (operating profit) was ¥17,539 mil (up 21.6%YoY),
Money Service Business segment profit (operating profit) was ¥2,466 mil (up 17.8% YoY) and Payment
Enhancement Business segment profit (operating profit) was ¥174 mil (previous term was a segment loss oroperating loss of ¥106 mil).
c. Profit before income taxes
Profit before income taxes, reached ¥34,756 mil (up 161.6% YoY). The reason the pre-tax profit growth rate of
161.1% is much higher than the operating profit growth rate of 25.1% is due to (1) financial income reaching¥1,621 mil due to foreign currency gains of ¥1,022 mil and gains from investment partnerships of ¥371 mil and(2) gains from the sale of all the shares owned in the former equity method affiliate 2C2P Pte. Ltd of ¥16,932 mil.

―5―

② Results by segment
Performance by reportable segment is explained below.
(Unit: Thousand Yen)
Segment
Payment Processing Business
Revenue
Operating profit

FY2021(From October 1, 2020
to September 30, 2021)

FY2022(From October 1, 2021
to September 30, 2022)

30,812,806
14,424,791

37,978,077
17,539,462

23.3
21.6

10,151,451
2,093,180

11,402,183
2,466,696

12.3
17.8

YoY change (%)

Money Service Business
Revenue
Operating profit
Payment Enhancement
Business
Revenue
Operating profit
Adjustments
Revenue
Operating profit (△=loss)

717,861△106,886

942,703
174,46231.3－△14,884△3,423,878△24,609△3,931,506

－
－

Total
Revenue
Operating profit

41,667,235
12,987,207

50,298,354
16,249,114

20.7
25.1

a. Payment Processing Business
The Payment Processing Business focusses on payment processing services for online billing, recurring billing,
and offline payments, as well as expanding Banking as a Service (BaaS) support to financial institutions andfinancial service providers. In the online billing and recurring billing domain, we focused our efforts to acquirelarge and medium-to-small sized merchants across various industries as well as expand our services to a widearray of non-EC merchants, given the backdrop of the steadily expanding E-Commerce (EC) market.
The impact from COVID-19 was limited during the current fiscal year under review as was the case in the previous
fiscal year. In the online billing and recurring billing domain, the easing of COVID-19 prevention measures andprogress made in vaccination caused travel and ticket payments to grow from increased movement/travel while
depressing the growth rates at some merchandise sectors from the easing of nesting demand. Additionally,
micropayments increased from rising adoption of cashless payment and EC usage; internet usage during nesting
consumption period has made online payments the norm in such areas as daily goods, digital content, public
utilities and taxes.
In the offline domain during the fiscal year under review, transaction volume and value recovered for somemerchants primarily in the restaurant sector that were adversely affected by COVID-19 restrictions. In addition,
segment revenues benefited from the increase in initial revenues, transaction volume and value led by favorable
payment terminal sales from expansion of offline cashless payment market as consumers refrained from handling
physical cash as a safer means of payment as well as the continued growth since last fiscal year of payment
terminal sales of stera, the next generation payment platform. Furthermore, steady progress was made in winning
project orders related to the Unattended Market (UM) such as ticket machines and fare adjustment machines,
which is one of the target markets. Contribution to segment revenue also came from accelerating growth of theProcessing Platform service, which is part of the BaaS (Banking as a Service) support service, by capturing theneed for cashless payment and DX at financial institutions and business operators.
As a result, segment revenue reached ¥37,978 mil up 23.3% YoY and segment profit (operating profit) was¥17,539 mil, up 21.6% YoY.

―6―

b. Money Service Business
Money Service Business (MSB) consists of Early Payment service to help merchants improve their cash flow;
Transaction Lending service, a loan service for merchants; Lending service to overseas FinTech operators;
Remittance service; Instant Salary byGMO, a salary prepayment service, and GMO Payment After Delivery
provided by a consolidated subsidiary GMO Payment Service, Inc.
In the fiscal year under review, segment revenue and profit increased from Early Payment service that increased
in line with the growth of Payment Processing Business segment, as well as from the progress made in Lending
service to overseas FinTech operators to secure new potential customers that can generate stable revenues going
forward. However, Remittance service revenue growth decelerated despite the growth in transaction volume.
GMO Payment After Delivery, a BNPL payment method, also decelerated due to hard comps against the strong
nesting demand last year.
As a result, segment revenue reached ¥11,402 mil, up 12.3% YoY and segment profit (operating profit) reached¥2,466 mil, up 17.8% YoY.

c. Payment Enhancement Business
Payment Enhancement Business comprises of online advertising service to support the merchants’ revenue
growth, and “Medical Kakumei byGMO,” a reservation management system to enable operational efficiency at
the reception counters offered exclusively to medical institutions by the consolidated subsidiary GMO Medical
Reservations Technology Co. Ltd.
GMO Medical Reservations Technology Co. Ltd. offers a smartphone-based app to make reservations, fill in
medical questionnaires, complete the reception and payment, in addition to consolidating multiple patientregistration cards of medical institutions implementing this service on a smartphone. In the fiscal year under review,
this services’ revenue increased 78.4% YoY from the heightened demand due to COVID-19. In addition, revenues
from online advertising service and SSL coupons also grew, helping to generate a positive segment profit.
As a result of the above, segment revenue was ¥942 mil, up 31.3% YoY and segment profit (operating profit) was¥174 mil, compared to the segment loss or operating loss of ¥106 mil recorded in the previous fiscal year.

―7―Please see below for the table of the major businesses and companies providing these businesses by segment.
Segment
Payment
Processing
Business

Major service

Major companies of the service

Payment processing service(Online billing and recurring billing)

GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)

Payment processing service
GMO Financial Gate, Inc. (consolidated subsidiary)(Offline)
GMO Payment After Delivery

GMO Payment Service, Inc.
(consolidated subsidiary)

Remittance service
Money Service
Business

Transaction Lending
Overseas Lending

GMO Epsilon, Inc. (consolidated subsidiary)
GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)
GMO Payment Gateway, Inc.

Early Payment service
Payment

GMO Payment Gateway, Inc.

Online Advertising

GMO Payment Gateway, Inc.
GMO Epsilon, Inc. (consolidated subsidiary)
GMO Payment Gateway, Inc.

Enhancement
Medical Kakumei byGMO
Business―8―

GMO Medical Reservations Technology Co., Ltd.
(consolidated subsidiary)(2) Status of financial position①

Assets, liabilities and equity
a. Assets
Total assets at the end of the consolidated fiscal year under review increased by ¥57,951 mil from the end of theprevious fiscal year end to reach ¥273,407 mil. This is mainly due to the increase in cash and cash equivalentsby ¥9,443 mil, trade and other receivables by ¥2,925 mil, advances paid by ¥9,101 mil, accrued revenues by¥5,438 mil, deposits to subsidiaries and affiliates by ¥14,500 mil, other financial assets by ¥11,551 mil and equity
method investment by ¥4,014 mil.
The balance of cash and cash equivalents at the end of the consolidated fiscal year under review includes ¥4,630
mil in deposits to subsidiaries and affiliated companies included in, as stated in “④ Cash and cash equivalents”
of “(6) Notes regarding consolidated financial statements”. Together with the ¥16,500 mil of deposits to
subsidiaries and affiliated companies stated in the consolidated balance sheet, the total balance of the deposits
to subsidiaries and affiliated companies stands at ¥21,130 mil. These deposits are GMO Internet’s Group-wide
cash on hand which is deposited under the cash management system (CMS) implemented and managed by
GMO Internet. This allows GMO-PG consolidated subsidiaries to withdraw necessary funds in accordance with
their expanding business, by registering a withdrawal request after taking into account the number of days
required to process the application, without the need to wait until the preset CMS repayment date.
b. Liabilities
Balance of liabilities at the end of the consolidated fiscal year under review stood at ¥184,146 mil, an increase of¥26,511 mil from the end of the previous consolidated fiscal year. This is mainly due to the increase of accrued
expenses by ¥2,743 mil, deposits received by ¥6,816 mil, borrowings by ¥7,841 mil, income tax payables by¥2,314 mil and deferred tax liabilities of ¥5,564 mil.
c. Equity
Equity balance at the end of the consolidated fiscal year under review was ¥89,260 mil, an increase of ¥31,440
mil from the end of the previous consolidated fiscal year. This was mainly due to the increase from recording the
profit of ¥24,361 mil and the recognition of other comprehensive income of ¥11,530 mil arising mainly from fairvalue measurements of financial instruments held by associates accounted for using the equity method andforeign currency translation difference of overseas business activities, which was partially offset by the decline inretained earnings of ¥4,474 mil from dividend payouts.

―9―（3）Status of cash flow position
Cash and cash equivalents (“funds”) at the end of the consolidated fiscal year under review increased by ¥9,443
mil versus the balance at the start of the term, to reach ¥113,967 mil. The state of cash flow over the fiscal year
under review is discussed below.
a. Cash flow from operating activities
Net funds provided by operating activities during the consolidated fiscal year under review amounted to ¥7,656
mil, which compares to ¥6,343 mil in net funds used in the same period of the previous year. This resulted fromcash outflows from (i) gain on sales of investment of equity method affiliate, which is taken as an adjustment itemin investment activities of ¥16,932 mil, (ii) an increase in advances paid of ¥9,101 mil, (iii) an increase in accrued
revenues of ¥6,018 mil, (iv) incomes tax payments of ¥5,231 mil, which was offset by cash inflows of (i) profit
before tax of ¥34,756 mil, (ii) increase in accrued expenses of ¥2,402 mil, and (iii) increase in deposits receivedof ¥6,810 mil.
b. Cash flow from investing activities
Net funds used by investing activities during the consolidated fiscal year under review totaled ¥2,443 mil, which
compares to a net funds provided of ¥2,230 mil in the same period of the previous year. This resulted from cash
outflows from (i) payment into restricted deposits of ¥11,499 mil, (ii) purchase of intangible assets of ¥2,649 mil,(iii) payment into deposits to subsidiaries and affiliated companies of ¥16,500 mil. which was offset by cash
inflows from proceeds from sale of investment securities of ¥24,487 mil and (ii) income from distributions frominvestment partnerships of ¥2,314 mil, (iii) withdrawal of deposits made to subsidiaries and affiliated companiesof ¥2,000 mil.
c. Cash flow from financing activities
Net funds provided by financing activities over the consolidated fiscal year under review was ¥2,635 mil, which
compares to net funds provided of ¥12,781 mil in the same period of the previous year. This is due to cash inflows
from the net increase in short term borrowings of ¥2,000 mil, (ii) increase in long term borrowings of ¥6,000 mil
which was partially offset by net outflows from dividend payouts of ¥4,471 mil.

(4) Basic policy on profit distribution and dividends for current and next fiscal year
GMO-PG and its consolidated subsidiaries places management priority on sustainably securing the necessary
retained earnings for future business expansion and for strengthening the organization, as well as to sustain a stablelevel of shareholder returns.
The year-end dividend for the fiscal year ending September 2022 (FY2022) was initially forecast at ¥66 per share, as
disclosed in the “Summary of Consolidated Financial Statements for FY2022” released on November 11, 2021.
However, in light of the fiscal year’s financial results likely to exceed the initial forecasts, the year-end ordinary
dividend is planned to be raised by ¥13 per share to ¥79 per share. In addition, GMO-PG will also pay a special
dividend of ¥81 per share to reflect the divestment of all the shares of the former equity-method affiliate 2C2P Pte.
Ltd, and to recognize the 10 years of overseas business expansion as well as to express our gratitude to the support
from our shareholders that contributed to overall earnings growth since GMO-PG’s listing. As a result, the annual
dividend for fiscal year ending September 2022 is planned to be a total of ¥160 per share (consisting of ordinary
dividend of ¥79 and special dividend of ¥81). (Refer to Note below)
Dividend for the next fiscal year is forecast at ¥82 per share based on the strong business plans and continued
efforts to enhance shareholder returns through the consecutive dividend increase since dividend paymentscommenced that will collectively contribute to raise the corporate value in the medium- to long-term.
Note that the retained earnings will continue to be effectively deployed to strengthen the organization as well as
for aggressive business expansion.

―10―

Details of the revision to dividends is as follows.

Annual Dividend
End of Q1

End of Q2

End of Q3

Yen

Yen

Yen

Previous
forecast(Nov. 11, 2021)

―

―

―

Current forecast―
FY2022

―

―

0.00

0.00

0.00

0.00

0.00

0.00

Year-end

Total
Yen

Yen

66.00

66.00

160.00160.00(Ordinary dividend ¥79.00)(Ordinary dividend ¥79.00)(Special dividend ¥81.00)(Special dividend ¥81.00)

59.00

59.00

FY2021(FY ending
Sept. 2021)
Note: The above will be deliberated at the Board of Directors meeting scheduled on November 21, 2022.

(5) Earnings forecast
GMO-PG and its consolidated subsidiaries are positioned within the E-Commerce (EC) market in Japan, and Japan’s B2C
EC market for consumer merchandizing continues to grow very rapidly, helped by favorable externalities such as increased
functionality of smartphones and logistic/distribution industry reforms. In addition, online migration continues to progresssolidly for payments for non-merchandise services that are closely related to daily life such as public utilities, taxes/publicdues and medical expenses, as well as online consumption becoming the norm under the ‘new normal’ lifestyle brought
about by COVID-19. In addition, the scope of the EC market itself is expanding driven by the online migration of B2B andC2C transactions. In the offline domain, the consolidated subsidiary GMO Financial Gate, Inc. is contributing to expand
the scope of business by capturing new and emerging business opportunities from the acceleration of cashless adoptionof various payment methods, including credit cards.
The business environment for the fiscal year ending September 2023 is faced with lingering uncertainty over private
consumption, caused by the weakening yen and surging raw material costs in addition to the volatile capital markets
caused by global monetary tightening, although COVID-19 vaccination rates continue to make progress andmovement/travel restrictions are easing. The revenue impact to GMO-PG and its consolidated subsidiaries is minimal
from these developments as of this writing, thanks to the businesses’ resiliency to macro-economic fluctuations arisingfrom the diverse exposure to merchants across various industries and the favorable trends in cashless penetration, online
migration of payments and, expanding businesses that respond to corporate needs for cost reductions and businessmodel transformation through DX (Digital Transformation). Furthermore, revenue expansion is expected in all reportablesegments thanks to the contribution coming from acquiring large and high-growth merchants, winning orders for large
projects, revenue expansion from priority initiatives such as industry-specific DX platforms and the next generation
payment platform stera and BaaS support services to financial institutions and business operators.
The consolidated earnings forecast for the fiscal year ending September 2023 is revenue ¥59,100 mil (up 17.5% YoY),
operating profit of ¥20,311 mil (up 25.0% YoY), profit before income taxes of ¥18,837 mil (down 45.8% YoY), profit of¥12,635 mil (down 48.1% YoY) and profit attributable to owners of parent of ¥12,368 mil (down 48.8% YoY).

―11―

2. Management Policy(1) Basic policy on the corporate management
The management principle of GMO-PG and its consolidated subsidiaries is to “pursue both spiritual and material
prosperity for our partners by contributing to society.”■ We contribute to the advancement and progress of our society by creating and developing markets with integrity,
fairness and transparency.
■ We define our partners as employees and officers, customers and business partners that are trustworthy persons andact with high integrity.
■ Our employees and officers demonstrate their richness of spirit, advanced problem-solving abilities, and a high level ofprofessionalism as they interact and exchange values with our customers in the pursuit of both spiritual and material
prosperity.
Based on this management principle, our mission is to become the best payment infrastructure in Japan and to contributeto safe and easy use of payment processing services for merchants and consumers. We are expanding our businesses
according to the following management policy:
・Be adaptive to the changing times
Spirit of innovation: Strive to maintain/support technical superiority of our products.
Flexibility: Make optimal project proposals that lives up to a fast-changing market.
・Establish our raison d’etre
Uniqueness: Strive to maintain the value of our existence through customer-oriented services.
Profitability: Surpass competitors by pursuing revenue growth and establish an unwavering position in the industry.
・Pursue the right conditions for profit
Sociability: Maintain a sound business and aggressively and continually enter new markets to expand the choice of
payment methods.
Rationality: Make quick and impartial business judgements with foremost consideration to economic rationality.
・Be responsible to shareholders
Strive to maximize shareholder value through capital efficiency. Actively conduct IR activities and provide timely
and appropriate information to shareholders.

(2) Management KPI targets
GMO-PG and its consolidated subsidiaries emphasizes an operating profit growth rate of 25% as a management
performance indicator.
GMO-PG and its consolidated subsidiaries continues to make medium- to long-term investments in order to achieve the
25% operating profit growth rate, with a track record of 25.1% YoY operating profit growth in FY2022 and a forecast
25.0% YoY operating profit growth in FY2023. As a company vested to build the payment infrastructure for the online(mainly EC market) and offline markets, we will endeavor to create a safe and convenient EC and cashless environmentthat contributes to raise EC penetration, promote DX adoption and raise the cashless penetration in Japan. In addition,
GMO-PG and its consolidated subsidiaries will continually strive to scale up by launching new businesses, forging
business and capital alliances with other partner operators, establishing subsidiaries and, through overseas expansion.

―12―

(3) Priority issues to be addressed①

Strengthening the information security

GMO-PG and is consolidated subsidiaries provide credit card payment processing services, and process and manage
material information such as credit card numbers. As part of the process to strengthen risk management system andprevention of information leaks, the ISO/IEC 27001:2013 (Japanese Standards, JIS Q27001: 2014), the global
standards for information security management, was obtained for all business offices, as the first ever listed payment
processing company. Consequently, the information security management system has been objectively assessed tobe appropriate and safe in compliance with strict international standards. With regards to PCI DSS which was jointly
established by five international credit card companies: JCB; American Express; Discover; MasterCard; and VISA, wehave undergone the annual recertification review and have obtained the latest certification in December 2021 after
obtaining the first certification in December 2008.
With respect to the handling of personal information, the privacy mark has been obtained that certifies companies thathave improved system’s for taking appropriate protection measures for personal information in compliance with theJapanese Industrial Standards “JIS Q 15001:2017 Personal Information Protection Management System –Requirements.” Furthermore, an independent personal information protection management system has been
established and operate a high level of protection that goes beyond mere compliance with the laws.
②

Strengthening the system development capabilities

The business fields of GMO-PG and its consolidated subsidiaries are deeply related to the Internet and in order toprovide customers with competitive products and it is important to adopt competitive technologies and services in atimely manner. Presently, employees conduct the system design that incorporates changes in the system environmentor requests from customers and outsource the programming work to achieve efficiency and high-quality. GMO-PG and
its consolidated subsidiaries will continue its efforts to recruit highly skilled developers/engineers and further strengthen
system development capabilities and services.
③

Strengthening the collaboration business

It is essential to establish mutually beneficial business collaborations with corporations covering many merchants,
payment companies or EC website builders to efficiently acquire new merchants in order ensure stable growth. This
type of business conduct is the hallmark of sales activities at GMO-PG and its consolidated subsidiaries will continue
to seek further business collaborations, with the management tracking the progress of such activities.
④

Expansion of business portfolio

As part of its management strategy, GMO-PG and is consolidated subsidiaries have constantly sought to expand thescope of business mainly in, but not limited to, the B2C EC domain to public dues, utility charges, service commerce,
online B2B and C2C EC domain and, launching a payment method through the establishment of GMO Payment
Service Inc. This management strategy was further executed by strengthening the overseas expansion to 7 locations
through a consolidated subsidiary and by expanding the offline market business through the consolidated subsidiary
GMO Financial Gate Inc. We will continue to pursue a diverse business portfolio centered around payment processing
service and strive to consecutively boost profits.
⑤

Promotion of sustainability management

Guided by the management principle of GMO-PG and its consolidated subsidiaries is to “pursue both spiritual andmaterial prosperity for our partners by contributing to society,” GMO-PG and its consolidated subsidiaries is committed
to continually advance its sustainability management and undertakes SDGs initiatives such as providing services that
support the migration towards online, cashless, paper-less and digital transformation (DX), driving social innovation
through financial technologies and, conversion to de-facto renewable energy for powering the major data centers.

―13―

3.

Basic Stance on Accounting Standard Selection
GMO-PG and is consolidated subsidiaries is focused on globally developing comprehensive payment-related services.
In order to improve financial information comparisons with international peers and improve on disclosure standards aswell as to improve the effectiveness for shareholders and investors in Japan and overseas, GMO-PG has voluntarily
adopted IFRS applicable from the first quarter of FY2018 (FY ending September 2018).

―14―4. Consolidated Financial Statements and Major Notes(1) Consolidated balance sheet
Notes

FY2021(September 30, 2021)(Unit: Thousand Yen)FY2022(September 30, 2022)

AssetsCurrent assets④

104,523,965

113,967,930⑤

10,308,474
45,321,043

13,964,116
54,422,846

24,893,665
1,664,548

30,331,694
1,532,298

2,000,000
455,403335,983

16,500,000
12,917,180
620,923

189,503,084

244,256,990

3,948,522
5,521,782

3,542,380
6,942,428

4,593,784

8,608,123

4,231,100
6,005,805

3,501,426
5,095,976

1,529,043
122,769

1,342,570
117,283

Total non-current assets

25,952,808

29,150,189

Total assets

215,455,892

273,407,179

Cash and cash equivalents
Trade and other receivables
Advances paid
Accrued revenue
Inventories
Deposits to subsidiaries and affiliates
Other financial assets
Other current assets⑥

Total current assets
Non-current assets
Property, plant and equipment
Goodwill and other intangible assets
Investments accounted for using
equity method
Trade and other receivables⑤

Other financial assets
Deferred Tax Assets
Other non-current assets―15―

(Unit: Thousand Yen)
Notes

FY2021(September 30, 2021)

FY2022(September 30, 2022)

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables
Accrued expenses

5,230,945
20,537,297

5,595,583
23,280,877

Deposits received
Borrowings

84,593,904
15,138,420

91,410,677
17,000,000

Other financial liabilities
Income taxes payable, etc.

621,3632,602,652

1,014,590
4,916,655

Provisions
Other current liabilities

327,157
3,662,794

320,229
4,281,866

Total current liabilities

132,714,534

147,820,480

Non-current liabilities
Corporate bonds

19,593,627

19,678,403

Borrowings
Other financial liabilities

20,0952,889,479

6,000,000
2,342,950

Provisions
Deferred tax liabilities

130,180
78,148130,576
5,642,475

Other non-current liabilities

2,209,447

2,531,640

Total non-current liabilities

24,920,978

36,326,046

Total liabilities

157,635,512

184,146,527

EquityCapital stock

13,323,135

13,323,135

Capital surplus
Retained earnings

15,191,927
26,546,151

15,272,474
49,424,496

Treasury stock
Other items of equity
Total equity attributable toowners of parent
Non-controlling interests△1,152,444
1,937,175△1,152,444
10,255,198

55,845,946

87,122,860

1,974,433

2,137,790

Total equity
Total liabilities and equity―16―

57,820,379

89,260,651

215,455,892

273,407,179

(2) Consolidated statement of income and statement of comprehensive income
Consolidated statement of income(Unit: Thousand Yen)
Notes

FY2021(From October 1, 2020
to September 30, 2021)

FY2022(From October 1, 2021
to September 30, 2022)

41,667,235

50,298,354

8,244,807

9,171,529△13,568,862△16,662,790

28,098,372

33,635,563

263,671

278,819△15,031,509△17,604,584

Revenue(of which, interest income※)
Cost of revenue
Gross profit
Other income
Selling, general and administrative
expenses
Other expense△343,327△60,685

Operating profit
Financial income

12,987,207

16,249,114

484,137

1,621,118

Financial expense
Equity method investment gains or loss

△202,868
17,166－△230,509
184,697
16,932,140

13,285,643

34,756,561△4,302,682△10,395,424

8,982,961

24,361,137

Non-controlling interests

8,818,820
164,140

24,152,140
208,996

Profit8,982,961

24,361,137⑧

117.98318.45⑧

116.17314.66

Gain from sale of equity method investment
Profit before income taxes
Income tax expenses
ProfitProfit attributable to
Owners of parent

Earnings per share (Yen/share)
Basic earnings per share
Diluted earnings per share（※）The figure present the interest income calculated using the effective interest method as per IFRS 9 Financial
Instruments.

―17―

Consolidated statement of comprehensive income(Unit: Thousand Yen)FY2021(From October 1, 2020
to September 30, 2021)

FY2022(From October 1, 2021
to September 30, 2022)

8,982,961

24,361,137

102,291

669,573546,271

5,986,425

648,563

6,655,998

271,534

5,060,086

79,260△186,034

350,794

4,874,051

999,357

11,530,050

9,982,318

35,891,188

Non-controlling interests

9,814,824
167,494

35,671,476
219,711

Total

9,982,318

35,891,188

Notes
ProfitOther comprehensive income
Items that will not be reclassified to profit
or loss
Fair value of financial assets measured
through other comprehensive income
Shares of other comprehensive incomeof equity method affiliates
Total of Items that will not be reclassified
to profit or loss
Items that will be reclassified to profit orloss
Exchange differences on translation offoreign operations
Shares of other comprehensive incomeof equity method affiliates
Total of items that will be reclassified to
profit or loss
Other comprehensive income after
income taxes
Comprehensive income
Comprehensive income attributable to
Owners of parent―18―

(3) Consolidated statement of changes in equity
Previous consolidated fiscal year (From October 1, 2020 to September 30, 2021)

Notes Capitalstock
Balance as of October 1,
2020
ProfitOther
comprehensive
incomeComprehensive income
Purchase of treasury
stock
Dividends
Dividends paid to noncontrolling interests
Issuance of convertiblebond-type bonds withstock acquisition rights
Conversion of convertiblebond-type bonds withstock acquisition rights
Transfer from other items
of equity to retained
earnings
Share-based payment

4,712,900

transaction
Changes in the interest incontrolled subsidiary
Change in associates’’interest in controlledsubsidiary
Changesinothercomponents of equity
Total transactions withownersBalance as of September
30, 2021

CapitalsurplusRetained Treasury
earnings
stock5,675,561 20,725,465 △1,149,341(Unit: Thousand Yen)
TotalequityOther
NonTotal
items of attributable
controlling Equity
toownersequityinterestsof parent
1,769,560

31,734,145

1,719,369 33,453,515－－

8,818,820－－

8,818,820

164,140

8,982,961

－

－

－

－

996,004

996,004

3,353

999,357－－

8,818,820－

996,004

9,814,824

167,494

9,982,318－－－△3,102－△3,102－△3,102－－ △3,826,483－－ △3,826,483

－

－

－

－

－

－

△63,671△63,671－

1,006,926－－－

1,006,926－

1,006,926

8,610,235

8,430,623－－－

17,040,858－ 17,040,858－－

828,349－△828,349

－

－

－

－

103,656－－△39

103,616－

103,616－△29,165－－－△29,165

151,240

122,075－

12,880－－－12,880－12,880－△8,555－－－△8,555－△8,5559,516,366 △2,998,133△3,102△828,389

14,296,976

87,569 14,384,545

13,323,135 15,191,927 26,546,151 △1,152,444

1,937,175

55,845,946

1,974,433 57,820,379

8,610,235－ △3,826,483

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

Notes Capitalstock
Balance as of October 1,
2021
ProfitOther comprehensive
incomeComprehensive income
Purchase of treasury
sharesDividends
Dividends paid to noncontrolling interests
Transfer from other items
of equity to retained
earnings
Share-based paymenttransaction
Changes in the interest incontrolled subsidiary
Total transactions withownersBalance as of September
30, 2022

CapitalsurplusRetained Treasury
earnings
stock

13,323,135 15,191,927 26,546,151 △1,152,444(Unit: Thousand Yen)
TotalequityOther
NonTotal
items of attributable
controlling Equity
toownersequityinterestsof parent
1,937,175

55,845,946

1,974,433 57,820,379

24,152,140

208,996 24,361,137－－ 24,152,140

－

－

－

－

－

－

11,519,336

11,519,336

10,714 11,530,050－－ 24,152,140－

11,519,336

35,671,476

219,711 35,891,188

－

－

－

－

－

－

－

－ △4,474,710－－ △4,474,710

－

－

－

－

－

－

△89,232△89,232－－

3,200,915－ △3,200,915

－

－

－

－

125,688

－

－

△399

125,289－

125,289－△45,141－－－△45,141

32,879△12,262－

80,546 △1,273,795－ △3,201,314 △4,394,562

13,323,135 15,272,474 49,424,496 △1,152,444―19―

10,255,198

87,122,860－－－ △4,474,710△56,353 △4,450,916
2,137,790 89,260,651

(4) Consolidated statement of cash flows
FY2021
Notes (From October 1, 2020
to September 30, 2021)(Unit: Thousand Yen)FY2022(From October 1, 2021
to September 30, 2022)

13,285,643
1,896,633
187,990

34,756,561
2,148,382－△281,269△1,390,608△17,166△184,697－△16,932,140△223,548

132,249△1,504,832△1,617,930△14,281,294△9,101,802△653,790△6,018,307

933,682361,659

832,3032,402,899△2,471,198

6,810,392

238,652

734,518

461,288△1,596,905
45,253△138,185△4,653,399

767,258
12,868,435
118,306△98,562△5,231,849△6,343,236

7,656,330－△11,499,066△245,055△321,711△1,677,505△103,625△2,649,120△466,540

499,642

24,487,557

178,886

2,314,246－△500,000△2,000,000△16,500,000

5,000,000

2,000,000△403△78,114700,555

7,586△108,566－△12,929

761,3202,230,999△2,443,843

Net cash provided by (used in) operating
activities
Profit before income taxes
Depreciation & amortization
Impairment Loss
Financial income and expense(△=gain)
Equity method investment gain/loss(△=gain)
Gain on sale of equity method
investment
Increase/decrease in inventories(△=increase)
Increase/decrease in trade andother receivables (△=increase)
In/Decrease in advances paid(△=increase)
Accrued revenues (△=increase)
In/Decrease in trade payables(△=decrease)
In/Decrease in accrued expenses(△=decrease)
In/Decrease in deposits received(△=decrease)
In/Decrease in other current liabilities(△=decrease)
OthersSubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in)operating activities
Net cash provided by (used in) investing
activities
Payment into restricted deposit
Purchase of property, plants andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment
securities
Proceeds from redemption of
investments partnerships
Purchase of investments accounted
for using equity method
Payments into deposits to
subsidiaries and affiliates
Proceeds from w/drawal of deposits to
subsidiaries and affiliates
Purchase of other financial assets
Proceeds from sales of otherfinancial assets
Purchase of shares in subsidiary
resulting in change in scope of
consolidation
OthersNet cash provided by (used in)investing activities―20―

FY2021(From October 1, 2020
to September 30, 2021)(Unit: Thousand Yen)FY2022(From October 1, 2021
to September 30, 2022)△3,020,000

2,000,000－△803,910
21,057,055△3,826,280

6,000,000△158,515－△4,471,570△63,493△89,232

144,646

23,705△706,323△668,924

12,781,695

2,635,462

23,7001,596,015

8,693,158

9,443,965④

95,830,807

104,523,965④

104,523,965

113,967,930

Notes
Net cash provided by (used in) financing
activities
In/Decrease in short-term borrowings(△=decrease)
Proceeds from long-term borrowings
Repayment of long-term borrowings
Proceeds from the issuance of bonds
Dividends paid
Dividends paid to non-controllinginterests
Capital contributions from noncontrolling interests
Other
Net cash provided by (used in)financing activities
Effect of exchange rate changes on cash andcash equivalents
Increase and decrease in cash and cash
equivalents (△=decrease)
Balance of cash and cash equivalents at the
beginning of the period
Cash and cash equivalents at the end of
period―21―

(5) Notes regarding the going concern assumptions
N/A(6) Notes regarding consolidated financial statements① Reporting entity
GMO Payment Gateway, Inc. (“the Company”) is a corporation (kabushiki kaisha) domiciled in Japan and listed on theTokyo Stock Exchange. The registered address of its head office is 2-3 Dogenzaka 1-chome, Shibuya-ku, Tokyo, Japan.
The consolidated financial statements are comprised of the Company and its subsidiaries and equity interest in affiliates.
The ultimate parent of the Group is GMO Payment Gateway, Inc. The Company and its consolidated subsidiaries areengaged in the businesses of Payment Processing Business, Money Service Business and Payment Enhancement
Business. (see ⑦ Segment Information).
② Basis of preparationa.

Compliance of consolidated financial statements to IFRSThe consolidated financial statements of GMO-PG consolidated subsidiaries satisfy all the criteria of a “DesignatedInternational Accounting Standards Specified Company” under Article 1-2 of the Regulation On Terminology, Forms,
and Preparation Methods of Consolidated Financial Statements. The consolidated financial statements are preparedin accordance with International Financial Reporting Standards (IFRS) pursuant to the provision of Article 93 of theRegulation for Consolidated Financial Statements.
b.

Basis of measurement

The consolidated financial statements of GMO-PG consolidated subsidiaries is presented based on the accounting
principles stated under “③ Significant Accounting Principles”. The balance of assets and liabilities, unless otherwise
stated, have been prepared on a historical cost basis.
c.

Functional and presentation currency

The consolidated financial statements of GMO-PG consolidated subsidiaries are presented in Japanese Yen (“JPY”),
which is the functional currency. All figures in JPY are rounded down to the nearest thousand JPY.
③ Significant accounting policies
Significant accounting policies adopted for the consolidated financial statements for the fiscal year ended September
2022 for GMO-PG and is consolidated subsidiaries are the same as those adopted for the previous year’s consolidated
financial statements.
④ Cash and cash equivalents
Breakdown of cash and cash equivalents are as follows.
FY2021(September 30, 2021)(Unit: Thousand Yen)FY2022(September 30, 2022)

Cash and cash equivalents

81,593,965

109,337,930

Deposits toand affiliates

22,930,000

4,630,000

104,523,965

113,967,930

subsidiaries

Total

―22―

⑤ Operating and other receivables
Breakdown of operating and other receivables are as follows.
FY2021(September 30, 2021)
5,740,246(Unit: Thousand Yen)FY2022(September 30, 2022)
6,454,035

8,846,384

10,677,593

92,408457,134△139,464△123,220

Total

14,539,574

17,465,542

Current assets

10,308,474

13,964,116

Non-current assets

4,231,100

3,501,426

14,539,574

17,465,542

Trade and other receivables
Operating loans
Other
Allowanceaccounts

fordoubtful

Total⑥ Deposits to subsidiaries and affiliates

Our deposits to subsidiaries and affiliates are the deposits under the CMS (cash management system) of GMO
Internet Group.
⑦ Segment information(1)

Overview of segment information

The reporting segments of GMO-PG and is consolidated subsidiaries are based on operational segments for which
separate financial information is available and which the Board of Directors regularly reviews to determine theallocation of management resources and evaluate its performance. GMO-PG and is consolidated subsidiaries havebusinesses and subsidiaries according to the product and/or service, and each product/service carries out thebusiness activities and formulates comprehensive strategies covering Japan and overseas. Therefore, GMO-PG
and is consolidated subsidiaries is comprised of the various products and services grouped according to the
explanation above and multiple businesses are grouped and classified under the three reportable segments ofPayment Processing Business, Money Service Business and Payment Enhancement Business.
The main products and services included in the reportable segments are as shown below:
Reportable

Main products and services

Segment
Payment

Payment processing for online billing, recurring billing and for offline payments.

Processing
BusinessMoney

GMO Payment After Delivery, money services such as Remittance, Transaction Lending toServiceprovide growth funds, overseas Lending, Early Payment service to improve merchant’s cash

Businessflow.

Payment

Online advertising service aimed at increasing revenues at merchants and the medical

Enhancement

institution-exclusive reservation management system “Medical Kakumei byGMO."

Business

―23―

(2)

Segment information
Accounting principles applied to the reportable segments are the same as that of consolidated financial
statements.Performance of segments is as shown below. Profit for the reportable segments is reconciled as
operating profit or loss. Intersegment transactions are based on equivalent prices of arm’s length transactions.

Segment Information for previous fiscal year (FY2021: from October 1, 2020 to September 30, 2021)(Unit: Thousand Yen)
Payment
Money
Payment
Adjustments
Processing
ServiceEnhancement
Total
Consolidated(Note)
Business
Business
Business
Revenues
Sales to external
30,798,812 10,151,451
716,970 41,667,235－ 41,667,235
customers
13,993890
14,884
Intersegment revenue－△14,884－
Total

30,812,806

10,151,451

717,861

14,424,791

2,093,180△106,886

Financial income

－

－

－

－

－

484,137

Financial expense

－

－

－

－

－

△202,868

Equity method investment
gains (△=loss)

－

－

－

－

－

17,166

Profit before income taxes

－

－

－

－

－

13,285,643

1,522,821

138,594

29,628

1,691,044

205,589

1,896,633

21,414－

166,576

187,990－

187,990

Segment profit (△=loss)

Other items
Depreciation &amortization
Impairment Loss

41,682,119△14,884

41,667,235

16,411,085 △3,423,878

12,987,207(Note) Adjustment of segment profit of △¥3,423 mil consist of general corporate expenses not allocated to any
reportable segment of △¥3,543 mil and elimination of intersegment transactions of ¥119 mil. General corporate
expenses mainly consist of selling, general and administrative expenses not allocated to any reportable segment.
Segment Information for current fiscal year (FY2022: from October 1, 2021 to September 30, 2022)(Unit: Thousand Yen)
Payment
Money
Payment
Adjustments
Processing
ServiceEnhancement
Total
Consolidated(Note)
Business
Business
Business
Revenues
Sales to external
37,954,521
11,402,183
941,650 50,298,354－ 50,298,354
customers
23,555
1,053
24,609Intersegment revenue－△24,609－
Total

37,978,077

11,402,183

942,703

50,322,964△24,609

50,298,354

17,539,462

2,466,696

174,462

20,180,620 △3,931,506

16,249,114

Financial income

－

－

－

－

－

1,621,118

Financial expense

－

－

－

－

－

△230,509

－

－

－

－

－

184,697

－

－

－

－

－

16,932,140

－

－

－

－

－

34,756,561

1,713,155

155,107

63,086

1,931,348

217,033

2,148,382

－

－

－

－

－

－

Segment profit (△=loss)

Equity method investment
gains (△=loss)
Gain on sale of equity method
investment
Profit before income taxes
Other items
Depreciation &amortization
Impairment Loss

(Note) Adjustment of segment profit of △¥3,931 mil consist of general corporate expenses not allocated to any
reportable segment of △¥4,082 mil and elimination of intersegment transactions of ¥151 mil. General corporate
expenses mainly consist of selling, general and administrative expenses not allocated to any reportable segment.

―24―

⑧ Per share information(1) Basic earnings per share and the basis for calculation
The basic earnings per share and the basis for calculation basic earnings per shares is as follows.
(Unit: Thousand Yen)FY2021
FY2022(From October 1, 2020
(From October 1, 2021
to September 30, 2021)
to September 30, 2022)
Profit attributable to ordinary shareholders of parent
Profit attributable to owners of parent
Profit not attributable to ordinary shareholders of parent
Profit used to calculate basic earnings per share
Average number of shares
Basic earnings per share

8,818,820－
8,818,820
74,750,225 shares¥117.98 per share

24,152,140－
24,152,140
75,842,549 shares¥318.45 per share(2) Diluted earnings per share and the basis for calculation
The diluted earnings per share and the basis for calculation diluted earnings per shares is as follows.
(Unit: Thousand Yen)FY2021
FY2022(From October 1, 2020
(From October 1, 2021
to September 30, 2021)
to September 30, 2022)
Profit attributable to ordinary shareholders after dilution
Profit used to calculate basic earnings per share
Adjustment to profit
Profit used to calculate diluted earnings per share
Average number of shares
Effect of dilutive securities
Convertible bond-type bonds with subscription rights
Number of shares after effect of dilutive shares
Diluted earnings per share⑨ Significant subsequent events
Not applicable.

―25―

8,818,820
30,053
8,848,873
74,750,225 shares

24,152,140
56,69024,208,830
75,842,549 shares

1,423,657 shares
76,173,882 shares¥116.17 per share

1,093,410 shares
76,935,959 shares¥314.66 per share