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

Consolidated Financial Results
for the Third Quarter of Fiscal Year Ending March 31, 2022
[Japanese GAAP]
January 31, 2022
Company name: Sanoyas Holdings Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 7022
URL: http://www.sanoyas.co.jp/Representative: Isao Kitatsuji, President
Contact: Naoya Fukui, General Manager, Accounting Department
Phone: +81-6-4803-6171
Email: info@sanoyas.co.jp
Scheduled date of filing quarterly securities report: February 8, 2022
Scheduled date of commencing dividend payments: –Availability of supplementary briefing material on annual financial results: Not available
Schedule of quarterly financial results briefing session: None
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2022 (April 1, 2021 toDecember 31, 2021)(1) Consolidated Operating Results (Cumulative)(% indicates changes from the previous corresponding period.)
Profit (loss)
Operating profit
Ordinary profit
Net sales
attributable to(loss)(loss)
owners of parent
Nine months ended
Million yen% Million yen% Million yen% Million yen%
December 31, 2021
13,191(60.5)(197)–(165)–
92–
December 31, 2020
33,392(5.5)(3,925)–(3,810)–(6,010)–(Note) Comprehensive income: Third Quarter of fiscal year ended March 31, 2022: ¥325 million [–%]
Third Quarter of fiscal year ended March 31, 2021: ¥(7,271)million [–%]Basic earnings per
share

Nine months ended
December 31, 2021
December 31, 2020

Diluted earnings per
share

Yen

Yen

2.81
(183.58)

2.76–(2) Consolidated Financial Position
Total assets
Net assets
Million yen
Million yen
As of7,309
December 31, 2021
27,252
7,098
March 31, 2021
26,401(Reference) Equity: As of December 31, 2021: ¥7,219 million
As of March 31, 2021: ¥7,009 million

Equity ratio
%

26.5
26.5

2. Dividends
Annual dividends
1st2nd3rdYear-endquarter-end quarter-end quarter-end
Yen

Yen

Yen

TotalYen

Fiscal year ended
–
0.00
–
5.00
March 31, 2021
Fiscal year ending–0.00–
March 31, 2022
Fiscal year ending
March 31, 2022
5.00
(Forecast)(Note) Revision to recently disclosed projected cash dividends: NoneYen

5.00

5.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March31, 2022)(% indicates changes from the previous corresponding period.)
Net sales
Million yen%

Operating profit

Ordinary profit(loss)(loss)

Million yen%

Million yen

Profit (loss)
attributable toowners of parent%

Basic earnings
per share

Million yen%

Yen

Full year
20,000 (55.2)
600–
500–
300(Note) Revision to recently disclosed projected consolidated financial results: None–

9.16* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of consolidation): None
(2) Adoption of special accounting methods for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2021: 33,122,120 shares
March 31, 2021: 32,890,166 shares2) Total number of treasury shares at the end of the period:
December 31, 2021: 47,214 shares
March 31, 2021: 45,742 shares
3) Average number of shares during the period:
Nine months ended December 31, 2021: 32,982,271 shares
Nine months ended December 31, 2020: 32,743,124 shares* These consolidated financial results are outside the scope of audit* Explanation of the proper use of financial results forecast and other notes
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 awide range of factors.

2. Quarterly Consolidated Financial Statements [Japanese GAAP](1) Quarterly Consolidated Balance Sheets [Japanese GAAP](Million yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Software
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of December 31, 2021

5,612
4,155
－559
162
1,108
685
1,364
(9)
13,638

6,302
3,029
309
807
197
1,623
808
513
(9)
13,582

2,524
1,497
2,873
476
7,372

2,840
1,642
2,873
392
7,747

114
806
17
938

307
735
17
1,060

3,728
86
306
339
(9)
4,451
12,762
26,401

4,153
83322310(8)
4,861
13,66927,252

(Million yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Advances received
Contract liabilities
Provision for bonuses
Provision for construction warranties
Provision for removal cost of property andequipment
Lease obligations
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gain (loss) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition right
Total net assets
Total liabilities and net assets

2

As of December 31, 2021

3,368
1,800
2,890
69661－
333
76

3,483
2,950
2,693
290－
444
132
7223－

251683
10,157264
783
11,116

4,009
1,093
1,618
1,709
704
8
9,145
19,302

4,209
980
1,177
1,751
701
5
8,826
19,943

2,563
263
2,679
(9)
5,496

2,580
－
2,902
(9)
5,473

1,566
－
(5)
(48)
1,512
89
7,098
26,401

1,760
122(39)
1,745
89
7,309
27,252

(2) Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income[Japanese GAAP]
Quarterly Consolidated Statements of Income [Japanese GAAP](Million yen)
Nine Months ended December Nine Months ended December
31, 2020
31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary loss
Extraordinary income
Gain on sales of investment securities
Other
Total extraordinary income
Extraordinary loss
Provision of allowance for loss on sales of shares ofsubsidiaries and associates
Loss on valuation of investment securities
Total extraordinary loss
Loss before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent

333,392
33,180212
4,137(3,925)

13,191
10,052
3,138
3,336
(197)

6103
42

3
130－

31－

251
434

40
174

260
59
319
(3,810)

102
39
141
(165)

4,204－
4,204

40
4
45

6,191－－
6,191(5,797)190
23
213(6,010)(6,010)99(130)
329
(552)
(222)
92
92

Quarterly Consolidated Statements of Comprehensive Income [Japanese GAAP](Million yen)
Nine Months ended December
31, 2020Loss
Other comprehensive income loss (loss)
Valuation difference on available-for-sale securities
Deferred gain (loss) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Comprehensive loss (income) of affiliates accounted forby the equity method attributable to the company
Total other comprehensive income (loss)
Comprehensive income
Comprehensive income (loss) attributable toOwners of the parent
Non-controlling interests

4NIne Months ended December
31, 2021(6,010)92(1,371)
(13)
78
42

194
12883－(1,260)(7,271)

233
325(7,271)－325－

(Segment Information)
Ⅰ Nine months Ended December 31, 2020 (April 1, 2020 to December 31, 2020)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)

Adjustments( Note 1)

Amountrecorded inquarterly
consolidated
statements ofincome( Note 2)

Reportable segment
Machinery / Machinery /Shipbuilding & Equipment & Equipment &Engineering Services forServices for
Business
Manufacturing Construction
Industry
IndustryLeisurebusiness

Total

Net sales
External sales

21,369

6,095

4,542

1,385

33,392－33,392

Internal sales ortransfers

117－

2－

120

(120)

－

Total

21,487

6,095

4,544

1,385

33,512(120)

33,392

Segment profit (loss)(3,034)218

24(363)(3,156)(769)(3,925)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment profit or loss of ¥(769) million include corporate cost of ¥(791) million not allocated to eachreportable segment, allowance for doubtful accounts of ¥2 million and elimination of inter-segment transaction of ¥19
million.
Corporate cost consists of general and administrative expenses which do not belong to the reporting segment.
(Note 2) Segment profit or loss is adjusted with operating loss recorded in the quarterly consolidated statements of income.

Ⅱ Nine months Ended December 31, 2021 (April 1, 2021 to December 31, 2021)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)

Adjustments( Note 1)

Amountrecorded inquarterly
consolidated
statements ofincome( Note 2)

Reportable segment
Machinery /Equipment &Services for
Manufacturing
Industry

Machinery /Equipment &Services for Leisure business
Construction
Industry

Total

Net sales
Goods transferred at apoint in time
Goods transferred overtime
Revenue from contacts
with customers

6,253

2,938

1,678

10,869－10,869

404

1,853

64

2,321

－

2,321

6,657

4,791

1,742

13,191－

13,191

6,657

4,791

1,742

13,191－

13,191

Internal sales or transfers－－－－－－

Total

6,657

4,791

1,742

13,191－

13,191

549

58

151

760

(958)

(197)

External sales

Segment profit (loss)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment loss of ¥(958) million include corporate cost of ¥(969) million not allocated to each reportablesegment, allowance for doubtful accounts of ¥(0) million and elimination of inter-segment transaction of ¥11 million.
Corporate cost consists of general and administrative expenses which do not belong to the reporting segment.
(Note 2) Segment loss is adjusted with operating loss recorded in the quarterly consolidated statements of income.

5

(Note 3) We have changed our business segmentation from "M&T business" to "Machinery / Equipment & Services for
Manufacturing Industry", "Machinery / Equipment & Services for Construction Industry", and "Leisure business” since thebeginning of the first quarter of the current consolidated fiscal year due to the transfer of shares of Sanoyas Shipbuilding
Corporation to SHIN KURUSHIMA DOCKYARD CO., LTD. The segment information for the previous period is restatedto current period presentation.

6

3. Supplementary information
Status of sales and orders
Segmental sales
Nine months ended December 31, 2020
(April 1, 2020 to December 31, 2020)
Segment
Composition ratio(Million yen)（%）
Shipbuilding &21,369
64.0
Engineering
Machinery / Equipment& Services for
Manufacturing Industry
Machinery / Equipment& Services forConstruction Industry
Leisure Business

Total

Leisure BusinessTotal－－

6,095

18.3

6,657

50.5

4,542

13.6

4,791

36.3

1,385

4.1

1,742

13.2

33,392100.0

13,191

100.0

Order status and backlog of orders
Nine months ended December 31, 2020
(April 1, 2020 to December 31, 2020)
Segment
OrdersBacklog of orders(Million yen)
(Million yen)
Shipbuilding &Engineering
Machinery / Equipment& Services for
Manufacturing Industry
Machinery / Equipment& Services forConstruction Industry

Nine months ended December 31, 2021
(April 1, 2021 to December 31, 2021)
Composition ratio(Million yen)（%）

Nine months ended December 31, 2021
(April 1, 2021 to December 31, 2021)
Orders(Million yen)Backlog of orders(Million yen)

15,51431,265

－－

5,408

3,816

6,747

4,305

5,579

4,965

5,001

5,101

528

319

1,654

1,348

27,03040,365

13,404

10,755(Note) The amount of orders received and order backlogs for rental of temporary construction-use elevators are included in
Machinery / Equipment & Services for Construction Industry Segment since the beginning of the first quarter of thecurrent consolidated fiscal year. Following the change, the amounts for the previous period have been changed to include
the amount of orders received and order backlogs for rental of temporary construction-use elevators.

7