Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Note:

This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022
(Japanese GAAP)

October 13, 2022
Company name:
MEIKO NETWORK JAPAN CO., LTD.
Listing:
Tokyo
Securities code:
4668（URL：https://www.meikonet.co.jp）
Representative:
Kazuhito Yamashita, President & Representative Director
Inquiries:
Kouyuki Sakamoto, Executive Officer, General Manager of Corporate Planning Department
Telephone:+81-3-5860-2111
Scheduled date of annual general meeting of shareholders:November 18, 2022
Scheduled date to file quarterly securities report:
November 21, 2022
Scheduled date to commencement dividend payment:
November 21, 2022
Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results briefing:
Yes (for analysts and institutional investor)(Amounts are rounded down to the nearest million yen)
1. Consolidated financial results for the fiscal year ended August 31, 2022 (From September 1, 2021 to August 31, 2022)(% indicates changes from the previous corresponding period)(1) Consolidated operating results
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Fiscal year ended
August 31, 2022
19,674
3.3
1,168
20.6
1,289
15.8
974 (14.5)
August 31, 2021
19,0394.5
969 351.2
1,113 146.5
1,140(Note) Comprehensive income: For the fiscal year ended August 31, 2022: ¥1,125 million [(4.5) %]For the fiscal year ended August 31, 2021: ¥1,179 million [ －%]Basic earnings
per share

Diluted earnings
per share

Return on equity

Yen

Yen

%

38.86
45.47

-

9.4
11.7

Fiscal year ended
August 31, 2022
August 31, 2021
Reference:

Ratio ofordinary profit
to total assets

Ratio ofoperating profit
to net sales

8.6
7.8

5.9
5.1

%

%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended August 31, 2022: ¥36 million
For the fiscal year ended August 31, 2021: ¥8 million(2) Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Millions of yen
Millions of yen%
As ofAugust 31, 2022
15,43910,606
68.7
August 31, 2021
14,64910,025
68.4
Reference: Equity
As of August 31, 2022:¥10,606 million
As of August 31, 2021:¥10,025 million

Net assets per share%

422.84399.67(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodFiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

August 31, 2022

489

150

(653)

8,563

August 31, 2021

742

1,697

(628)

8,577

1

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

2. Cash Dividends

Fiscal year ended
August 31, 2021
August 31, 2022
Fiscal year ending
August 31, 2023
(Forecast)First
quarter-end
Yen

Secondquarter-end
Yen

Third
quarter-end
Yen

Fiscalyear-end
Yen

Total
Yen

Millions of yen%

Ratio ofdividends to net
assets(Consolidated)
%

-

10.00
11.00

-

10.00
11.00

20.00
22.00

504
557

44.0
56.6

5.1
5.3

-

12.00

-

12.00

24.00

Annual dividends per share

Total cash
dividends(Total)75.3

3. Consolidated Financial Results Forecast for fiscal year ending August 31, 2023
(From September 1, 2022 to August 31, 2023)
Net sales
Second quarter(comulative)
Full-year

Operating profit

Payout ratio(Consolidated)(% indicates year-on-year changes)
Basic
Profit attributable toearnings
owners of parent
per share

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

yen

10,5005.8

870(31.3)

906(31.7)

529(56.9)

21.09

21,000

6.7

1,300

11.2

1,350

4.7

800

(17.9)

31.89

Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in the scope of consolidation):
None(2) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies caused by revision of accounting standards: Yes
2) Changes in accounting policies due to other reasons:None3) Changes in accounting estimates:
None4) Restatement:
None(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of August 31, 2022
27,803,600 shares
As of August 31, 2021
27,803,600 shares(ii)

Number of treasury shares at the end of the period
As of August 31, 2022
As of August 31, 2021

2,720,058 shares
2,720,058 shares(iii) Average number of shares outstanding during the period.
Fiscal year ended August 31, 2022
Fiscal year ended August 31, 2021

25,083,542 shares
25,084,293 shares

Notes: Treasury stock for the fiscal year ended August 31, 2022 includes the Company's shares held by the "Stock
Granting Trust for Officers" and the "Stock Granting Trust for Employees" (141,000 and 121,000 shares of treasury
stock at the end of the fiscal year) Treasury stock for the fiscal year ended August 31, 2021 includes the Company's
shares held by the "Stock Granting Trust for Officers" and the "Stock Granting Trust for Employees" (141,000 and
121,000 shares of treasury stock at the end of the fiscal year)2Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

(Reference) Overview of non-consolidated financial results
1. Non-consolidated financial results for fiscal year ended August 2022
(From September 1, 2021 to August 31, 2022）(1) Non-consolidated operating results（Percentages represent increases or decreases from the previous year）

Net sales

Operating income

Ordinary income

Net income

Fiscal year ended

Million yen%

Million yen%

Million yen%

Million yen%

August 31, 2022

13,100

2.6

733

20.0

784

13.5

772

(16.3)

August 31, 2021

12,770

8.3

610

153.2

691

57.9

922

-

Net income per share
yen

Fiscal year ended
August 31, 2022
August 31, 2021

Fully diluted net income per
share

yen

30.78
36.76

-

(2) Non-consolidated financial situation
Total assets
Fiscal year ended
August 31, 2022
August 31, 2021
(Reference) Shareholders’ equity:

Net assets

Million yen

Million yen

13,052
10,491
12,451
10,119Fiscal year ended August 2022:
Fiscal year ended August 2021:

Shareholders’ equity
ratio

Net assets per share

%

yen

80.4
81.3
¥10,491 million¥10,119 million

418.26403.43* The financial statements are not subject to audit by a certified public accountant or auditing firm.
* Proper use of earnings forecasts, and other special matters
Forward-looking statements in the document, such as earnings forecasts, are based on the information currently
available and certain assumptions that the company thinks reasonable. Actual results August differ remarkably fromthe statements due to variety of different factors.
The Company plans to hold a financial results briefing for institutional investors and analysts on October 13, 2022.
The presentation materials and audio will be posted on the Company's website promptly after the meeting.

3

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

（Reference）Trend of numbers of Meiko Gijuku schools and registered students and system-wide sales
Fiscal year ended
August 31, 2021
From Sep. 1, 2020
to Aug. 31, 2021
Operating
YOY
results comparison

TermFiscal Period
Number of Meiko Gijuku directly operated schools (MNJ)

205

(39)

220

15

Number of Meiko Gijuku directly operated schools (MAXIS)

93

(1)

95

2

Number of Meiko Gijuku directly operated schools (KLINE)
Number of Meiko Gijuku directly operated schools(TOMONI)*1
Number of Meiko Gijuku directly operated schools (One link)

41

-

41

-

42

-

42

-

20

20

22

2

Number of Meiko Gijuku directly operated schools (Cooth) *2

-

-

16

16

Subtotal number of Meiko Gijuku directly operated schools

401

(20)

436

35

Number of Meiko Gijuku franchised schools

1,366

(75)

1,339

(27)

Total number of Meiko Gijuku schools

1,767

(95)

1,775

8

15,002

41

15,902

900

7,007

394

6,634

(373)

2,952

295

2,879

(73)

2,228

142

2,265

37

885

885

947

62

-

-

1,168

1,168

Subtotal mumber of registered students of Meiko Gijuku directly
operated schools

28,074

1,757

29,795

1,721

Number of registered students of Meiko Gijuku franchised
Schools

74,377(579)

69,236(5,141)

Total number of registered students of Meiko Gijuku schools

102,451

1,178

99,031

Sales from Meiko Gijuku directly operated schools(Millions of yen)

11,557

1,260

12,186(3,420)

Sales from Meiko Gijuku franchised schools *3(Millions of yen)

4,505

155

4,525

20

Sales from Japanese language schools(Millions of yen)

840

(315)

815

(25)

Sales from others(Millions of yen)

2,135

(278)

2,147

11

Total Sales(Millions of yen)

19,039821

19,674635

11,557

1,260

12,186629

25,976(409)

24,332(1,644)37,534850

36,519(1,015)

Number of registered students of Meiko Gijuku directly
operated schools (MNJ)
Number of registered students of Meiko Gijuku directly
operated schools (MAXIS)
Number of registered students of Meiko Gijuku directly
operated schools (KLINE)
Number of registered students of Meiko Gijuku directly
operated schools (TOMONI)*1
Number of registered students of Meiko Gijuku directly
operated schools (One link)umber of registered students of Meiko Gijuku directly
operated schools (Cooth) *2

Sales from Meiko Gijuku directly operated schools (Millions ofyen)
System-wide sales from Meiko Gijuku franchised schools(Millions of yen)
Total system-wide sales from Meiko Gijuku schools*4(Millions of
yen )

*

Fiscal year ended
August 31, 2022
From Sep. 1, 2021
to Aug. 31, 2022
Operating
YOY
results comparison

1
2
3
4

629

K.M.G Corporation Co., Ltd has changed its name to TOMONI Co., Ltd. as of September 1, 2021.
Cooth CO., LTD. was included in the scope of consolidation on December 1, 2021 due to the acquisition of shares.
Sales from Meiko Gijuku franchised schools represent royalty revenues and sales of products.
Total system-wide sales from Meiko Gijuku schools represent the sum of total sales of Meiko Gijuku directly operated
schools, including tuition, materials fees, and examination fees, and the total sales of Meiko Gijuku franchised schools,
including tuition. Materials fees and examination fees of franchised schools are excluded.

4Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly consolidated statement of Balance Sheets

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Securities
MerchandiseWork in process
Supplies
Advance payments to suppliers
Prepaid expenses
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Software in progress
Telephone subscription right
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Deferred tax assets
Leasehold and guarantee deposits
Long-term time deposits
Other
Total investments and other assets
Total non-current assets
Total assets

5

Fiscal year ended
August 31, 2021
(As of August 31,2021)(Millions of yen)
Fiscal year ended
August 31, 2022
(As of August 31,2022)

8,727
767
200
114
13
7
19
303
322
(33)
10,441

8,755
977
95
13
7
16
329
243
(33)
10,405

1,145
(676)
469
375
(322)
52
0
10
(1)
8
531

1,290
(780)
509
394
(340)
53
49
35
(23)
11
624

203
190
4
4
402

422
180
4
607

2,022
42
226
942
40
3,274
4,207
14,649

2,452
22
233
949
100
44
3,801
5,033
15,439

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Liabilities
Current liabilities
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Accrued consumption taxes
Advances received
Contract liabilities
Lease liabilities
Deposits received
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
Provision for share awards for directors (and other officers)
Provision for share awards
Long-term accounts payable-other to employees
Long-term accounts payable-other to officers
Deferred tax liabilities
Lease liabilities
Asset retirement obligations
Long-term guarantee deposits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

6

Fiscal year ended
August 31, 2021
(As of Aug. 31,2021)(Millions of yen)
Fiscal year ended
August 31, 2022
(As of Aug. 31,2022)

119
102
1,139
427
331
1,242
1
54
404
51
3,876

128
231
1,179
570
195
1,148
1
85
434
44
4,019

111
11
34
104
117
18
7
339
1
747
4,624

121
26
62
84
117
9
10
380
1
813
4,833

972
909
10,529(2,779)
9,632

972
909
10,959(2,779)10,062377
15392
10,025
14,649521
21543
10,606
15,439

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

(2) Quarterly Consolidated statements of profit or loss and comprehensive income
Quarterly Consolidated statements of profit or loss
Fiscal year ended August
31, 2021(from Sep. 1, 2020
to Aug. 31, 2021)(Millions of yen)
Fiscal year ended August
31, 2022(from Sep. 1, 2021
to Aug. 31, 2022)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Advertising expenses
Promotion expenses
Provision of allowance for doubtful accounts
Remuneration for directors (and other officers)
Salaries and allowances
Bonuses
Provision for bonuses
Retirement benefit expenses
Provision for share awards for directors (and otherofficers)
Provision for share awards
Commission expenses
Depreciation
Rent expenses
Amortization of goodwill
Other

19,03913,912
5,126

19,674
14,627
5,047

473
1,505
7
287
377
25
44
7

524
1,049
10
294
384
67
44
10

11
4
320
29
267
74
721

14
4
340
33
266
91
742

Total selling, general and administrative expenses

4,157

3,878

969

1,168

13
22

10
27

8
18
17
57
19

36
14
3
12
27

Total non-operating income

157

132

Non-operating expenses
Interest expenses
Commission expenses
Rental expenses
Loss on cancellation of leases
Other

1
4
5
0

0
6
1
3

Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodRental income
Reversal of allowance for doubtful accounts
Subsidy income
Other

Total non-operating expenses
Ordinary profit

7

12

11

1,113

1,289

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Fiscal year ended August
31, 2021(from Sep. 1, 2020
to Aug. 31, 2021)(Millions of yen)
Fiscal year ended
August 31, 2022
(from Sep. 1, 2021
to Aug. 31, 2022)

Extraordinary income
Gain on sale of property, plant and equipment
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates

531
164
-

623

Total extraordinary income

696

623

Extraordinary losses
Loss on change in equity
Loss on retirement of property, plant and equipment
Loss on withdrawal from business
Extra retirement payments
Loss on store closings
Impairment losses
Other

1
11
41
11
-

0
24
15
99
3

Total extraordinary losses

65

143

Profit before income taxes

1,744

1,769

Income taxes - current
Income taxes - deferred

660
(56)

858
(63)

Total income taxes

604

794

Profit1,140974

Profit attributable to owners of parent

1,140

974

8

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Quarterly consolidated statements of comprehensive income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

9

Fiscal year ended
August 31, 2021
(from Sep. 1, 2020
to Aug. 31, 2021)(Millions of yen)
Fiscal year ended
August 31, 2022
(from Sep. 1, 2021
to Aug. 31, 2022)

1,140

974

34

144

3
38
1,179

6
151
1,125

1,179

1,125

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

(3) Consolidated statement of change in shareholder's equity
Previous consolidated fiscal year (From September 1, 2020 to August 31, 2021)(Millions of yen)

Shareholder’s equity
Share capital
Balance at beginning of period
Cumulative effects of changes inaccounting policies
Restated balance

Capitalsurplus972

Retainedearnings

909

Total
shareholders'equity9,119Treasuryshares

10,140(2,903)972

909

10,140(2,903)

9,119

Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

Balance at beginning of period
Cumulative effects of changes inaccounting policies
Restated balance

(627)

(627)

1,140

1,140
(155)

(155)

(124)

279

155

-

-

389

124

513

972

909

10,529(2,779)

9,632

Accumulated other comprehensive income
Total
Valuation
Foreignaccumulateddifference on
currency
otheravailable-for-stranslation
comprehensive
ale securities
adjustment
income342
11
354

Non-controll
ing interests-

Total net
assets

9,473
-

342

11

354

-

9,473

Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares

(627)
1,140
(155)

Disposal of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period

155
34

3

38

-

38

34

3

38

-

552

Balance at end of period

377

15

392

-

10,02510

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Current consolidated fiscal year (From September 1, 2021 to August 31, 2022)(Millions of yen)

Shareholder’s equity
Share capital
Balance at beginning of period
Cumulative effects of changes inaccounting policies
Restated balance

Capitalsurplus972

Retainedearnings

909

Total
shareholders'equity9,632

Treasuryshares

10,529(2,779)

(12)
972

909

10,517(12)(2,779)9,620

Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

Balance at beginning of period
Cumulative effects of changes inaccounting policies
Restated balance

(532)

(532)

974

974
-

-

-

442

-

442

972

909

10,959(2,779)10,062

Accumulated other comprehensive income
Total
Valuation
Foreignaccumulateddifference on
currency
otheravailable-for-stranslation
comprehensive
ale securities
adjustment
income377
15
392

Non-controll
ing interests-

Total net
assets

10,025
(12)

377

15

392

-

10,012

Changes during period(532)

Dividends of surplus
Profit attributable to owners ofparent974

Purchase of treasury shares-

Disposal of treasury shares
Net changes in items other thanshareholders' equity

144

6

151

-

151

Total changes during period

144

6

151

-

593

Balance at end of period

521

21

543

-

10,60611

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

(4) Consolidated statements of cash flows(Millions of yen)

Fiscal year ended August
31, 2021(from Sep. 1, 2020
to Aug. 31, 2021)
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of intangible assets
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for share awards for directors(and other officers)
Increase (decrease) in provision for share awards
Loss (gain) on sale of investment securities
Loss (gain) on sale of shares of subsidiaries and associates
Interest and dividend income
Subsidy income
Interest expenses
Share of loss (profit) of entities accounted for using equity
methodLoss (gain) on change in equity
Rental income
Rent expenses
Loss (gain) on sale of property, plant and equipment
Loss on retirement of property, plant and equipment
Extra retirement payments
Loss on store closings
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Increase (decrease) in accrued expenses
Decrease (increase) in other assets
Increase (decrease) in other liabilities

Fiscal year ended
August 31, 2022
(from Sep. 1, 2021
to Aug. 31, 2022)

1,744
162
11
5
74
(12)
(19)
6

1,769
160
99
3
91
(0)
28
6

11
34
(164)
(36)
(57)
1

14
27
(623)
(38)
(12)
0

(8)
1
(18)
4
(531)
11
78
21
0
133
86
(91)
(325)

(36)
(14)
1
0
24
15
(193)
13
10
(147)
17
81
(144)

Subtotal

1,126

1,156

Interest and dividends received
Interest paid
Income taxes paid
Subsidies received

38
(1)
(477)
57

37
(0)
(716)
12

Net cash provided by (used in) operating activities

742

489

12

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Fiscal year ended August
31, 2021(from Sep. 1, 2020
to Aug. 31, 2021)(Millions of yen)
Fiscal year ended
August 31, 2022
(from Sep. 1, 2021
to Aug. 31, 2022)

(100)
100
(165)
1,235
(24)
221
200

100
(112)
(92)
(158)
727
100

(36)
52
200
15

(233)
(37)
4
(105)
(42)

Net cash provided by (used in) investing activities

1,697

150

Cash flows from financing activities
Proceeds from borrowings
Repayments of borrowings
Dividends paid
Repayments of lease liabilities

1,000(1,000)
(626)
(1)

(116)
(532)
(4)

Net cash provided by (used in) financing activities

(628)

(653)

Net increase (decrease) in cash and cash equivalents

1,811

(13)

Cash and cash equivalents at beginning of period

6,765

8,577

Cash and cash equivalents at end of period

8,577

8,563

Cash flows from investing activities
Purchase of securities
Proceeds from redemption of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from redemption of investment securities
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Payments of guarantee deposits
Proceeds from refund of guarantee deposits
Decrease (increase) in time deposits
Other, net

13Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Segment Information
1．Information related to net sales, profit or loss for each reportable segment.
Previous consolidated fiscal year (From September 1, 2020 to August 31, 2021)(Millions of yen)

Reportable segment
Meiko Gijuku
directly
operated schools

Meiko Gijuku
franchised
schools

11,557

4,505

840

16,9032,135

19,039

-

892

3

895

28

924

11,557

5,397

844

17,7992,164

19,963

1,338

1,367

(176)

2,529

(269)

2,259

40

59

15

115

37

153

-

-

-

-

74

74

Japaneselanguageschools

Others*

Total

Total

Net sales
external sales
Inter-segment sales andtransfers
Total
Segment profit (loss)
Other items
Depreciation
Amortizaton of goodwill(Note) 1. “Others” consists of the operating segments not included in reportable segments. It includes Kids Business(Afterschool), Waseda Academy Kobetsu Schools, Jiritsugausyu RED, MEIKO Kids e business and other businesses of
consolidated subsidiaries Koto & Company and Tokyo Ishin Gakuin.
2. Information on assets and liabilities are not disclosed because the Company does not treat such information as central
to the allocation of management resources and the evaluation of business performance.
3. Tokyo Ishin Gakuin Co., Ltd. was excluded from the scope of consolidation due to liquidation on June 30, 2021.
In this consolidated fiscal year, only the statement of income up to the completion of liquidation was consolidated.

Current consolidated fiscal year (From September 1, 2021 to August 31, 2022)(Million yen)

Reportable segment
Japaneselanguageschools

Others*Total

Meiko Gijuku
directly operated
schools

Meiko Gijuku
franchised
schools

731

1,743

-

2,474

1,232

3,706

11,455

2,782

815

15,053914

15,967

12,1864,525

815

17,527

2,147

19,674

-

-

-

-

-

-

12,1864,525

815

17,527

2,147

19,674

-

947

-

947

4

951

Total

12,186

5,472

815

18,475

2,151

20,626

Segment income(loss)

1,296

1,703

(187)

2,811

(306)

2,505

Depreciation

55

57

16

129

23

152

Amortization of goodwill

5

-

-

5

85

91

Total

Net sales
Goods or services
transferred at a point in time
Goods or services
transferred over a period oftime
Revenue from contracts
with customers
Other income
Sales to external customers
Intersegment sales andtransfers

Other items(Note) 1. “Others” consists of the operating segments not included in reportable segments. It includes Kids Business(Afterschool), Waseda Academy Kobetsu Schools, Jiritsugausyu RED, MEIKO Kids e business, HR solution businessand other businesses of consolidated subsidiaries Koto & Company and Simple Inc.
2. Information on assets and liabilities are not disclosed because the Company does not treat such information as central
to the allocation of management resources and the evaluation of business performance.

14

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

2．Difference between the Total of the Reportable Segments’ Measures of Profit or Loss and Income according toConsolidated Quarterly Statements of Income, and the Main Components of the Difference (Matters related to Adjustment
of Difference)(Millions of yen)
Fiscal year ended August 31,
Fiscal year ended August 31,
Net sales
2021
2022
Reportable segment total

17,79918,475

Profit (Loss) for “Others” category

2,164

2,151

Intersegment eliminations

(924)

(951)

Net sales in consolidated financial statements

19,03919,674

Fiscal year ended August 31,
2021

Profit (Loss)(Millions of yen)
Fiscal year ended August 31,
2022

Reportable segment total

2,529

2,811

Profit (Loss) for “Others” category

(269)

(306)

(1,290)(1,336)

Corporate expences

Operating income in consolidated financial
969
statements(Note)* Corporate expenses are mainly expenses that relate to the General Affairs section of the parent
company that are not attributable to the reportable segment.

Other items

Depreciation

Reportable segment
total

Others

1,168(Millions of yen)Amount recorded inconsolidated statementsof operations

Adjustment*

FY2021

FY2022

FY2021

FY2022

FY2021

FY2022

FY2021

FY2022

115

129

37

23

9

8

162

160

(Note)* Adjustment of depreciation and amortization mainly represents depreciation and amortization ofassets related to the General Affairs section of the parent company, which are not attributable to any
reportable segment.

15

Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2022

Per share information
Fiscal year ended August 31, 2021
(from Sep. 1, 2020 to Aug. 31, 2021)

Fiscal year ended August 31, 2022
(from Sep. 1, 2021 to Aug. 31, 2022)

Net assets per share

399.67 yen Net assets per share

422.84 yen

Net income (loss) per share

45.47 yen Earnings per share

38.86 yen

Note:

1. Diluted net income per share is not shown in the above table, as there are no residual shares.
2. The number of treasury stock held by the Trust at the end of the previous fiscal year was 141,000 and
121,000 shares, and the average number of shares during the fiscal year was 70,693 and 60,666 shares. The
number of treasury stock held by the Trust at the end of the fiscal year under review was 141,000 and
121,000 shares, and the average number of shares during the fiscal year was 141,000 and 121,000 shares.
3. Basis for calculation of net income per share
Fiscal year ended August 31, 2021 Fiscal year ended August 31, 2022
(from Sep. 1, 2020 to Aug. 31, 2021)(from Sep. 1, 2021 to Aug. 31, 2022)

1,140

974

-

-

1,140

974

25,084,293

25,083,542

Net income per share
Profit attributable to owners of parent
Amount not attributable to ordinary
shareholders
Profit attributable to owners of parent ofordinary shareholders
Average number of shares during the period(Significant Subsequent Events)
Not applicable16