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

Summary of Consolidated Financial Results
for the Three Months Ended May 31, 2022
(Based on Japanese GAAP)
Company name:

Stock exchange listing: Tokyo
Stock code:
3627
Representative:
Inquiries:

July 14, 2022

JNS HOLDINGS INC.
URL

https://www.jns.inc/

President & Representative Director
Senior Managing Director, Member of theMasashi IkedaTakashi Nakano

Board
Scheduled date to file Quarterly Securities Report:

TEL(03)6838-8800

July 14, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–
Yes

Holding of quarterly financial results meeting:No(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended May 31, 2022 (from March 1, 2022 to May 31, 2022)(1) Consolidated operating results (cumulative)

Three months ended May 31, 2022
Three months ended May 31, 2021Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
1,887
32.9(41)–2–(14)–
1,420 (21.8)(104)–(151)–(133)–Earnings per share

Diluted earnings per share

Yen(1.21)(11.16)

Three months ended May 31, 2022
Three months ended May 31, 2021

Yen––(2) Consolidated financial position
Total assets
As of May 31, 2022
As of February 28, 2022

Net assets

Millions of yen
8,159
8,786

Equity ratio

Millions of yen
5,593
5,593

Net assets per share%
68.0
63.2

Yen
465.37465.64

2. Cash dividends
Annual dividends per share

Year ended February 28, 2022
Year ending February 28, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
10.00

Yen
10.00

0.00

–

5.00

5.00

Year ending February 28, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
9,600
0.5
260 (49.7)
250 (42.2)
180 (49.1)
15.08

1

4. Notes(1) Changes in significant subsidiaries during the three months ended May 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoYes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2022

12,141,100 shares As of February 28, 2022

12,140,400 shares

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

210,105 shares As of February 28, 2022

210,105 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended May 31, 2022

11,930,881 shares Three months ended May 31, 2021

2

11,933,304 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of February 28, 2022

As of May 31, 2022

AssetsCurrent assets
Cash and deposits

4,982,263

4,618,465

1,134,617––
853,900

MerchandiseWork in process

104,507
132,460

115,727
276,943

Raw materials
Advance payments to suppliers

240,012291,341

248,434
80,770Other
Allowance for doubtful accounts

305,941(5,146)

329,852(4,028)7,185,998

6,520,065

Buildings, net
Vehicles, net

149,9313,592

144,231
3,297

furniture and fixtures, net
Construction in progress

90,068
1,433

90,555
1,433

Total property, plant and equipment

245,025

239,518

153,736

190,946

69,95037,59068,452
28,915

Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract assetsTotal current assets
Non-current assets
Property, plant and equipment

Intangible assets
Software
Software in progress
Goodwill
Other

6,441

8,071

267,718

296,386

Investment securities
Investments in capital of subsidiaries and associates

741,078
1,295

769,981790

Deferred tax assets
Guarantee deposits

152,951
198,166

139,703
199,760

Other
Allowance for doubtful accounts

31,010(37,131)

30,462(37,131)

Total investments and other assets

1,087,371

1,103,566

1,600,115

1,639,471

8,786,113

8,159,536

Total intangible assets
Investments and other assets

Total non-current assets
Total assets3

(Thousands of yen)
As of February 28, 2022

As of May 31, 2022

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings

370,447
89,539330,442–

Current portion of long-term borrowings
Income taxes payable

413,526
245,230

401,028
39,081

Advances received
Contract liabilities

100,228––
162,250

Provision for bonuses
Provision for product warranties

259,854427

58,492427

Other473,068

435,815

1,952,322

1,427,536

1,191,212
7,952

1,093,044
2,916

Asset retirement obligations
Other

35,014
6,602

35,102
7,218

Total non-current liabilities

1,240,781

1,138,281

3,193,103

2,565,817

Shareholders' equity
Share capital

2,391,423

2,391,580

Capital surplus
Retained earnings

1,500,413
1,650,907

1,500,571
1,517,128

Treasury shares(115,366)(115,366)

Total shareholders' equity

5,427,378

5,293,913

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

49,3485,899

75,83821,461

Foreign currency translation adjustment

72,630161,131

Total accumulated other comprehensive income

127,877

258,431

Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities

Total liabilities
Net assets

Accumulated other comprehensive income

Share acquisition rights
Total net assets
Total liabilities and net assets

437,754

41,373

5,593,010

5,593,718

8,786,113

8,159,536

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended
May 31, 2021
Net sales

Three months ended
May 31, 2022

1,420,412

1,887,092

Cost of sales

882,0021,210,847

Gross profit

538,409676,245

Selling, general and administrative expenses

643,273

718,210

Operating loss

(104,864)(41,965)

169

913

Foreign exchange gains
Other

4,899
2,385

45,223
1,513

Total non-operating income

7,454

47,651Non-operating income
Interest income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary profit (loss)

2,715

2,58947,392
4,432

505
255

54,5403,350(151,950)

2,335

8,742

–

Extraordinary losses
Loss on change in equity
Total extraordinary losses

8,742

–

Profit (loss) before income taxes(160,692)

2,335

Income taxes(27,525)

16,811

Loss(133,167)(14,476)

Loss attributable to owners of parent(133,167)(14,476)5

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)Three months ended
May 31, 2021
Loss

Three months ended
May 31, 2022

(133,167)(14,476)

21,194

26,490

Deferred gains or losses on hedgesForeign currency translation adjustment(1,387)39,035

15,56288,501

Share of other comprehensive income of entities accounted
for using equity method(2,364)–

Total other comprehensive income

56,477130,553(76,690)

116,077(76,690)

116,077

Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

6