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 First Quarter of Fiscal Year Ending March 31, 2022
[Japanese GAAP]
July 30, 2021
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: August 6, 2021
Scheduled date of commencing dividend payments: –Availability of supplementary briefing material on annual financial results: Not available
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the First Quarter of Fiscal Year Ending March 31, 2022 (April 1, 2021 toJune 30, 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
Three months ended
Million yen% Million yen% Million yen% Million yen%
June 30, 2021
3,830
(65.6)(310)–(288)–50–
June 30, 2020
11,125(3.2)(839)–(781)–(803)–(Note) Comprehensive income: First Quarter of fiscal year ended March 31, 2022: ¥24 million [(36.7%)]
First Quarter of fiscal year ended March 31, 2021: ¥38million [–%]
Basic earnings pershare

Three months ended
June 30, 2021
June 30, 2020

Diluted earnings pershareYenYen

1.53(24.64)

1.51–(2) Consolidated Financial Position
Total assets
Net assets
Million yen
Million yen
As of6,974
June 30, 2021
27,1907,098
March 31, 2021
26,401(Reference) Equity: As of June 30, 2021: ¥6,884 million
As of March 31, 2021: ¥7,009 million

Equity ratio
%

25.3
26.5

2. Dividends
Annual dividends
1st
2nd
3rd
Year-endquarter-end quarter-end quarter-end
YenYenYen

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

Yen

5.00

5.00

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%

Million yen

First half
8,500 60.8(400)–(400)(100)
Full year
20,000 (55.2)
600–
500–
300(Note) Revision to recently disclosed projected consolidated financial results: Yes

Basic earnings
per share%

Yen––
9.16

* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of consolidation): No(2) Adoption of special accounting methods for preparing quarterly consolidated financial statements: No(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: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2021: 32,890,166 shares
March 31, 2021: 32,890,166 shares2) Total number of treasury shares at the end of the period:
June 30, 2021: 45,214 shares
March 31, 2021: 45,742 shares
3) Average number of shares during the period:
Fiscal Year Ended June 30, 2021: 32,843,320 sharesFiscal Year Ended June 30, 2020: 32,616,785 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.

1. 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 assetsInvestment 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 June 30, 2021

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

6,558
3,269
166
673
173
1,505
695
1,264
(10)
14,298

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

2,826
1,540
2,873
316
7,557

114
806
17
938

131
782
17
932

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

3,661
94
320
336
(9)
4,402
12,892
27,190(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
OtherTotal 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
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 June 30, 2021

3,368
1,800
2,890
69661
－
333
76
23

3,074
4,100
2,757
267－
664
151
83
23251
683
10,157252824
12,199

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

3,522
1,030
1,039
1,714
704
6
8,017
20,216

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

2,563
－
2,843
(9)
5,398

1,556
(5)
(48)
1,512
89
7,098
26,4011,514
13(40)
1,486
89
6,974
27,190(2) Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income[Japanese GAAP]
Quarterly Consolidated Statements of Income [Japanese GAAP](Million yen)Three Months ended June 30,
2020

Three Months ended June 30,
2021

11,125
10,553572
1,411(839)

3,830
2,960
869
1,180(310)

158
25

252－

3150
167－
1368

84
25
110(781)
(781)
27(5)
22(803)(803)

37846(288)(288)
236(575)
(338)
5050

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary loss
Loss before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent

Quarterly Consolidated Statements of Comprehensive Income [Japanese GAAP](Million yen)Three Months ended June 30,
2020

Three Months ended June 30,
2021

(803)

50

797
(4)
35
113(51)
－
18
7－

842
38(25)
2438
－

24
－

Profit (loss)
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 attributable toOwners of the parent
Non-controlling interests3

(Segment Information)
Ⅰ Three months Ended June 30, 2020 (April 1, 2020 to June 30, 2020)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)Amountrecorded inquarterly
Adjustments
consolidated( Note 1)
statements ofincome( Note 2)

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

TotalLeisureBusinessNet sales
External sales

7,533

1,823

1,518

250

11,125－

11,125Internal sales ortransfers

41－

－－

41

(41)

－

Total

7,575

1,823

1,518

250

11,167(41)

11,125(266)

24(55)(283)(581)(257)(839)

Segment profit (loss)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment profit or loss of ¥(257) million include corporate cost of ¥(270) million not allocated to eachreportable segment, allowance for doubtful accounts of ¥3 million and elimination of inter-segment transaction of ¥8 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 Three months Ended June 30, 2021 (April 1, 2021 to June 30, 2021)
Information concerning Net sales and Operating profit or loss by Reportable business segment(Million yen)

Adjustments( Note 1)

Amountrecorded inquarterlyconsolidated
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

1,943

1,127

460

3,530

－

3,530

86

174

38

299

－

299

2,029

1,302

498

3,830

－

3,830

2,029

1,302

498

3,830

－

3,830

Internal sales or transfers－－－－－－

Total

2,029

1,302

498

3,830

－

3,830

153

(71)

(47)

35(346)(310)

External sales

Segment profit (loss)(Note 1) Details of “Adjustments” are as follows:
Adjustments for the segment loss of ¥(346) million include corporate cost of ¥(348) million not allocated to each reportablesegment, allowance for doubtful accounts of ¥0 million and elimination of inter-segment transaction of ¥1 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.

4

(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.
(Note 4) The Accounting Standards for Revenue Recognition, etc. has been applied since the beginning of the first quarter of thecurrent consolidated fiscal year. As a result of a change in the method of accounting treatment for revenue recognition, themethod of measuring profit or loss in each business segment has also been changed accordingly. The impact of thesechanges on the Company’s consolidated quarterly financial statements is minor.

53. Supplementary information
Status of sales and orders
Segmental sales
Three months ended June 30, 2020
(April 1, 2020 to June 30, 2020)
Segment
Composition ratio(Million yen)（%）
Shipbuilding &7,533
67.7
Engineering Business
Machinery / Equipment& Services for
Manufacturing IndustryMachinery / Equipment& Services forConstruction Industry
Leisure Business

Total

Leisure BusinessTotal－－

1,823

16.4

2,029

53.0

1,518

13.6

1,302

34.0

250

2.3

498

13.0

11,125100.0

11,125100.0

Order status and backlog of orders
Three months ended June 30, 2020
(April 1, 2020 to June 30, 2020)
Segment
OrdersBacklog of orders(Million yen)
(Million yen)
Shipbuilding &Engineering Business
Machinery / Equipment& Services for
Manufacturing Industry
Machinery / Equipment& Services forConstruction Industry

Three months ended June 30, 2021
(April 1, 2021 to June 30, 2021)
Composition ratio(Million yen)（%）

Three months ended June 30, 2021
(April 1, 2021 to June 30, 2021)
Orders(Million yen)Backlog of orders(Million yen)

777

30,066

－－

2,225

5,075

1,865

3,096

1,640

4,200

2,075

5,180

130

160

1,115

1,081

4,773

39,502

5,055

9,358

(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 toinclude the amount of orders received and order backlogs for rental of temporary construction-use elevators.

6