[Translation]
Note: This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Three Months Ended June 30, 2020
(Under Japanese GAAP)
August 12, 2020
Company Name Kakuyasu Co., Ltd.
Listing
Tokyo Stock Exchange
Ticker Code7686
URL
https://corp.kakuyasu.co.jp/
Representative Junichi Satou, Representative Director and President
Inquiries
Yoshiyuki Maegaichi, Executive Officer Group Finance and Accounting ManagerTelephone+81-3-5959-3088
Scheduled date to file quarterly securities report:
August 12, 2020
－Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results briefing:No(JPY amounts are rounded down to million, unless otherwise noted.)
1. Consolidated financial results for the three months ended June 30, 2020（From April 1,2020 to June 30, 2020）（Percentages indicate year-on-year changes.)(1) Consolidated operating results (cumulative)
Sales
Three months ended

Operating profit

Profit attributable to ownersof parent

Ordinary profit

JPY million％

JPY million％

JPY million％

JPY million％

June 30, 2020

16,783－△1,114－

△755－

△538－

June 30, 2019－－－－－－－－

Note: Comprehensive income For the three months ended June 30, 2020:

JPY△543 million－ million
JPYFor the three months ended June 30, 2019:
Basic earnings
per share
Three months ended

[－％]
[－％]

Diluted earnings
per shareJPYJPY

June 30, 2020

△69.81－

June 30, 2019－－

Note: 1.The Company has not prepared quarterly consolidated financial statements for the first quarter of the fiscal year ending March
2020, so the figures for the first quarter of the fiscal year ending March 2020 and the year-on-year change rate for the firstquarter of the fiscal year ending March 2021 is not described.
2.Diluted net income per share for the first quarter of the fiscal year ending March 31, 2021 is not stated because it is a quarterly
net loss per share, although there are diluted shares.

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

JPY millionJPY million％

June 30, 2020

25,473

4,444

17.4

March 31, 2020

28,472

5,162

18.1

Reference: Equity

As of June 30, 2020:

JPY 4,444 million

As of March 31, 2020:

JPY 5,162 million- 1 -2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

Total

JPY

JPY

JPY

JPY

JPY-

24.90

-

24.90

49.80

----

Fiscal year ended
March 31, 2020
Fiscal year ending
March 31, 2021-

Fiscal year ending
March 31, 2021
(Forecast)

Note: 1. Revisions to the forecast of cash dividends most recently announced: No
2.Dividends for the fiscal year ending March 2021 have not been determined as it is difficult to predict business results at this time.

（From April 1,2020 to March
3. Consolidated financial results for the fiscal year ending March 31, 2021（Forecast）
31, 2021）（Percentages indicate year-on-year changes.）
Sales

Fiscal year ending
September 30, 2021
Fiscal year ending
March 31, 2022

Operating profit

JPY million

％

－－－－

JPY million

Profit attributable toowners of parent

Ordinary profit％

JPY million％－－－－－－－－

JPY million

Earnings
per share％

JPY－－－－－－

Note: 1.Revisions to the forecast of financial results most recently announced: No
2.The business performance forecast for the fiscal year ending March 31, 2021 has not been determined as it is difficult to make areasonable calculation at this stage due to the spread of the new coronavirus infection. In the future, we will promptly disclose theperformance forecast as soon as it becomes possible to calculate it.

※ Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): Yes
New：1company (Sanno Co., Ltd.)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial
statements：No(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and otherregulations：No(ii) Changes in accounting policies due to other reasons：No(iii) Changes in accounting estimates：No(iv) Restatement: No(4) Number of issued shares (common shares)(i)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2020

7,723,600

shares

As of March 31, 2020

7,693,400

shares

As of June 30, 2020

－shares

As of March 31, 2020－

shares(ii) Number of treasury shares at the end of the period- 2 -(iii) Average number of shares outstanding during the period (cumulative from the beginning of thefiscal year)
Three months ended June 30, 2020

7,710,055

sharesThree months ended June 30, 2019

－shares

Note: As the Company has not prepared quarterly consolidated financial statements for the firstquarter of the fiscal year ending March 2020, the average number of shares for the first quarterof the fiscal year ending March 2020 is not stated.
※ Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants oran audit corporation.
※ Proper use of earnings forecasts, and other special matters
Consolidated business forecasts for the fiscal year ending March 31, 2021 have not been determined as it isdifficult to reasonably calculate them at this stage due to the spread of the new coronavirus infection. In thefuture, we will promptly disclose the performance forecast as soon as it becomes possible to calculate it.

- 3 -4. Quarterly consolidated financial statements and main notes(1) Quarterly Consolidated Balance Sheets（JPY million）
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise
Accounts receivable - others
OthersAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Vehicles, net
Tools, furniture and fixtures, net
Land
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
GoodwillSoftware
Leased assets
OthersTotal intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Leasehold and guarantee deposits
Long-term prepaid expenses
OthersAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 4 -As of June 30, 2020

3,489
6,843
4,290
1,191
394
△85
16,123

2,300
4,496
3,937
1,478
414
△5012,576

3,376
0
178
2,9978161
6,723

3,375
0
172
2,997
7
161
6,714

12733
358
2
1,106

426
709
311
3
1,451

589
689
2,453
660
249
△124
4,518
12,34828,472

583
924
2,457
630
280
△145
4,730
12,89625,473

（JPY million）
As of March 31, 2020
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Asset retirement obligations
OthersTotal current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Asset retirement obligations
OthersTotal non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Total accumulated other comprehensive
incomeTotal net assets
Total liabilities and net assets- 5 -As of June 30, 2020

12,569
4,864
186
341
323
13
1,911
20,211

9,934
4,068
176
32
501
12
1,578
16,304

1,983
181
77
687
168
3,098
23,310

3,589
140
77
694
221
4,72421,029

355
615
4,056
5,027

364
623
3,326
4,314

135

129

135

129

5,162
28,472

4,444
25,473

(2) Quarterly Consolidated Statements of Income and Comprehensive Income（Quarterly Consolidated Statements of Income）（First quarter consolidated cumulative period）（JPY million）
Three months ended
June 30, 2020
Sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Subsidy income
OthersTotal non-operating income
Non-operating expenses
Interest expenses
OthersTotal non-operating expenses
Ordinary profit (loss)
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent

16,783
13,195
3,588
4,702△1,114363
73718311△755△755
5△222△216△538△538- 6 -（Quarterly Consolidated Statements of Comprehensive Income）（First quarter consolidated cumulative period）（JPY million）
Three months ended
June 30, 2020
Profit (loss)
Other comprehensive income
Valuation difference on available-for-salesecurities
Total other comprehensive income
Comprehensive income（Comprehensive income attributable to）
Comprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests△538△5△5△543△543－- 7 -