Note: This document has been translated from a part of 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.

April 21, 2022

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2022
(Under Japanese GAAP)
Company name: OBIC Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4684
URL:
https://www.obic.co.jp/
Representative:
Shoichi Tachibana, President and COO
Inquiries:
Tomonori Anan, Administrator of Business Planning Office and Accounting Div.
Telephone:+81-3-3245-6510
Scheduled date of annual general meeting of shareholders:June 29, 2022
Scheduled date to commence dividend payments:
June 30, 2022
Scheduled date to file annual securities report:
June 30, 2022
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31,2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Millions of yen

March 31, 2022

89,476

March 31, 2021

83,862

Note: Comprehensive income

Operating profit%

Millions of yen%

Millions of yen%

Millions of yen%

–54,135

12.6

60,17414.4

43,50014.5

4.2

48,07711.2

52,60014.3

38,001

8.3

For the fiscal year ended March 31, 2022:
For the fiscal year ended March 31, 2021:

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

Diluted earnings
per share¥50,506 million¥42,755 million

Return on equity[18.1%][29.4%]Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales

Fiscal year endedYenMarch 31, 2022

489.96

–

15.5

19.3

60.5

March 31, 2021

427.22

–

15.1

18.7

57.3

Yen%%%

Reference:

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2022:¥4,141 million
For the fiscal year ended March 31, 2021:¥3,348 million
Note: OBIC Co., Ltd. (hereinafter “the Company”) has applied the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29, March 31, 2020), etc. effective from the beginning of the fiscal year ended March 31, 2022. The
percentages indicating year-on-year changes are not presented as the figures for net sales for the fiscal year ended March 31,2022, are the figures after the application of this accounting standard. The year-on-year change, when calculated under theassumption that the accounting standard, etc. had been applied in the fiscal year ended March 31, 2021, was an increase of10.1%.

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2022

323,927

293,567

90.6

3,310.49

March 31, 2021

298,257

266,02589.2

2,990.72

1%

YenReference:

EquityAs of March 31, 2022:
As of March 31, 2021:¥293,567 million¥266,025 million(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2022

38,972(44,053)(22,965)

122,699

March 31, 2021

41,677(5,422)(15,121)150,745

2. Cash dividends
Annual dividends per shareFirstSecond
Third
quarter-end quarter-end quarter-end
Yen
Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
(Forecast)

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio ofPayout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen%%

–

80.00

–

105.00185.0016,455

43.3

6.5

–

92.50

–

122.50215.0019,06543.96.8–110.00–110.00220.0041.5

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (from April 1, 2022 to March31, 2023)
Net sales

Fiscal year ending
March 31, 2023

Operating profit(Percentages indicate year-on-year changes.)
Profit attributable to Basic earnings perowners of parent
share

Ordinary profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

98,50010.1

59,60010.1

65,6009.0

47,0008.0

530.012

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: –Excluded:–(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
Note: For details, please refer to “(5) Notes to consolidated financial statements, Changes in accounting policies” under “3.
Consolidated financial statements” of the attached materials on page 12.

(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

99,600,000 shares

As of March 31, 2021

99,600,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2022

10,922,048 shares

As of March 31, 2021

10,649,548 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2022

88,783,219 sharesFiscal year ended March 31, 2021

88,950,452 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2022 (from April 1, 2021 to March31, 2022)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2022

82,616

10.6

52,387

12.5

56,09714.1

40,138

14.7

March 31, 2021

74,7205.5

46,57412.0

49,14616.3

35,005

9.9

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2022

452.10–March 31, 2021

393.54–Yen(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2022

266,077

239,24089.9

2,697.85

March 31, 2021

244,189

215,575

88.3

2,423.55

Reference:

EquityAs of March 31, 2022:
As of March 31, 2021:¥239,240 million¥215,575 million

3%Yen* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
Consequently, any statements herein do not constitute assurances regarding actual results by the Company.
Actual business and other results may differ substantially due to various factors. Please refer to the section of“(4) Future outlook” of “1. Review of operating results and others” on page 3 of [Attached Material] for thesuppositions that form the assumptions for earnings forecasts and cautions concerning the use thereof.

4

Consolidated financial statements(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Deferred tax assets for land revaluation
Long-term time deposits
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of March 31, 2022

150,745
11,035

122,699––

12,025

103
232
0930
(1)
163,04668
233
71,118(1)
136,150

31,093(4,607)
26,48527,636
5,326(3,183)2,143
56,26531,610(5,787)25,823
27,636
6,747(4,085)2,661
56,121

133
133

154
154

74,816
2,296
––
1,701
(2)
78,811
135,211298,257

118,570
221
212
10,6581,840(2)131,500
187,776
323,927

(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Unearned revenue
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for special bonuses for founders
OtherTotal current liabilities
Non-current liabilities
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
Other
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
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

6As of March 31, 2022

3,523
9,706
1,138
2,372

3,606
8,552
1,194
2,372

105

129–
7,086
23,931360
4,851
21,066

6,046
240
–
2,014
8,300
32,231

5,942
358
1,210
1,782
9,293
30,35919,17819,530240,028(22,140)
256,596

19,17819,530265,985(27,562)
277,131

10,162
(694)
(39)
9,428
266,025
298,257

16,877(481)
39
16,435
293,567
323,927

(2) Consolidated statement of income and consolidated statement of comprehensive income(Consolidated statement of income)(Millions of yen)
Fiscal year ended
March 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on sale of investment securities
Share of profit of entities accounted for using equity
methodRental income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Loss on valuation of investment securities
Rental expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of shares of subsidiaries and associates
Total extraordinary income
Extraordinary losses
Provision for special bonuses for founders
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

Fiscal year ended
March 31, 2022

83,862
23,02160,84012,76248,07789,476
21,51867,95813,822
54,135

1
566
577

14
855
3

3,348

4,141

1,272
–
62
5,829

1,602
657
300
7,575

–
1,306
0
1,306
52,600

1
1,533
1
1,536
60,174

288–
288

2
14–
4
4
52,88415,017(134)
14,88338,001–
38,001360
24
384
59,79315,808484
16,29343,500–43,500(Consolidated statement of comprehensive income)(Millions of yen)
Fiscal year ended
March 31, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

8

Fiscal year ended
March 31, 2022

38,001

43,500

3,464
–
(257)

6,277
213
69

1,546

445

4,753
42,755

7,006
50,50642,75550,506––

(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

19,17819,530218,159(22,140)

Total shareholders’equity
234,728

Changes during period
Dividends of surplus(15,121)(15,121)

Profit attributable to ownersof parent

38,001

38,001–

Purchase of treasury shares
Reversal of revaluation
reserve for land

(1,010)(1,010)Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period–––

21,868–21,86819,17819,530240,028(22,140)

256,596

Total accumulated
other comprehensive
incomeTotal net assets

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

5,177

Revaluation reserve forland(1,705)

Remeasurements ofdefined benefit plans
192

3,663

238,392

Changes during period
Dividends of surplus(15,121)

Profit attributable to ownersof parent

38,001

Purchase of treasury shares–

Reversal of revaluation
reserve for land
Net changes in items otherthan shareholders’ equity(1,010)
4,985

1,010

(231)

5,764

5,764

Total changes during period

4,985

1,010

(231)

5,764

27,633

Balance at end of period

10,162(694)

(39)

9,428

266,025

9Fiscal year ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

19,17819,530240,028(22,140)

Total shareholders’equity256,596

Changes during period
Dividends of surplus(17,542)(17,542)

Profit attributable to ownersof parent

43,50043,500Purchase of treasury shares(5,422)(5,422)

Reversal of revaluation
reserve for land–

Net changes in items otherthan shareholders’ equity–

Total changes during period
Balance at end of period––

25,957(5,422)

20,534

19,17819,530265,985(27,562)

277,131

Total accumulated
other comprehensive
incomeTotal net assets

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

10,162

Revaluation reserve forland(694)

Remeasurements ofdefined benefit plans(39)9,428

266,025

Changes during period
Dividends of surplus(17,542)

Profit attributable to ownersof parent

43,500Purchase of treasury shares(5,422)

Reversal of revaluation
reserve for land
Net changes in items otherthan shareholders’ equity

–
6,714

213

78

7,006

7,006

Total changes during period

6,714

213

78

7,006

27,541

Balance at end of period

16,877(481)

39

16,435

293,56710

(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
March 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of investment securities
Increase (decrease) in provision for bonuses for
directors (and other officers)Increase (decrease) in provision for special bonuses forfounders
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
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 sale of shares of subsidiaries andassociates
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Purchase of treasury shares
Dividends paid
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

11

Fiscal year ended
March 31, 2022

52,8842,240

59,793
2,429(3,348)(4,141)

(577)

(3)

(11)

24–

360

(2)
(268)
(568)
(924)
(34)
(184)
3,990
(751)
52,443
1,953(12,720)
41,677

0
(3)
(870)
(989)
26
83
(2,177)(1,227)53,304
2,660(16,993)
38,972–(1,085)845(27)(8,841)
3,607(10,000)(1,820)5(90)(32,159)
9–

234

78
(5,422)(231)(44,053)–(15,121)(15,121)
21,133
129,612150,745(5,422)(17,542)(22,965)(28,046)
150,745
122,699