Consolidated Financial Results
for the Third Quarter of FY2022 Ending March 31, 2022
(J-GAAP)
February 4, 2022
Ariake Japan Co., Ltd.
2815
URL: https://www.ariakejapan.com/
Listing exchange: Tokyo, 1st Section
Naoki Shirakawa, President (CEO)Kazuhiro Fujita, General Manager, Administration Department
TEL: +81-3-3791-3301
Filing of quarterly financial report:
February 4, 2022
Date to start of dividends distribution:–
Supplementary quarterly materials prepared: None
Quarterly results information meeting held:
None
Listed company name:
Code number:
Representative:
Contact:(Figures shown are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022 (April 1, 2021–December 31,
2021)(1) Consolidated Financial Results (cumulative)(Percentage figures are changes from the same period in the previous fiscal year.)
Quarterly net income
attributable to shareholders
Operating income
Ordinary incomeof the parent company

Net sales
Millions of yen%

Millions of yen%

Third Quarter of FY2022
39,124
6.3
7,921
8.3
Third Quarter of FY2021
36,795(7.1)
7,316(17.3)(Note) Comprehensive income: Third Quarter of FY2022: ¥7,220 million (36.4%)
Net income per share
Third Quarter of FY2022
Third Quarter of FY2021

Millions of yen%

Millions of yen

%

8,364
9.6
5,522
4.7
7,630
(16.0)
5,276(15.4)
Third Quarter of FY2021: ¥5,293 million (4.2%)

Fully diluted net income
per share

Yen

Yen

173.47165.82––(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

Equity ratio

Millions of yen

As of December 31, 2021
116,868
As of March 31, 2021
111,681(Reference) Equity capital: As of December 31, 2021: ¥103,019 million

103,801
98,867

Net assets per share
Yen

%

88.2
87.9
As of March 31, 2021: ¥98,203 million

3,234.55
3,086.18

2. Dividends
1Q-endDividends per share
3Q-end2Q-endYen

Yen

Year-end

Annual

Yen

Yen

Yen

–
–

57.00

77.00

57.00

77.00

FY2021–20.00
FY2022–20.00
FY2022 (forecast)(Note) Revisions since the most recently announced dividend forecast: None

3. Forecast of the Consolidated Financial Results for FY2022 Ending March 31, 2022 (April 1, 2021–March 31, 2022)(Full year percentage figures represent changes from the previous fiscal year.)Net sales
Millions of yen

Operating income%

Millions of yen

Net income attributable
to shareholders of theparent company

Ordinary income%

Millions of yen%

Net income pershare

Millions of yen%

Yen

Full year
54,3009.3
11,80017.5
11,80010.5
8,100(Note) Revisions since the most recently announced forecast of the consolidated financial results: None

11.3

254.55

* Notes(1) Significant Changes in Subsidiaries during the Period (Changes in specified subsidiaries resulting in change of scope of
consolidation): None
(2) Application of Specified Accounting Methods for Preparation of Quarterly Consolidated Financial Statements: Yes(Note) For details, please refer to "(Application of Specified Accounting Methods for Preparation of Quarterly
Consolidated Financial Statements)" under "(3) Notes on Quarterly Financial Statements in 2. Quarterly
Consolidated Financial Statements and Major Notes."(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions
1) Changes in accounting policies associated with revisions of accounting standards, etc.: Yes
2) Changes other than those included in 1):
None3) Changes in accounting estimates:
None4) Restatement of revisions:
None(4) Number of Issued Shares (Common Stock)1) Number of issued shares as of the periodend (including treasury shares)
2) Number of treasury shares as of theperiod-end
3) Average number of shares (quarterly
consolidated cumulative period)

As of December
31, 2021

32,808,683 shares

As of March 31,
2021

32,808,683 shares

As of December
31, 2021

959,082 shares

As of March 31,
2021

988,181 sharesFirst nine months
31,838,374 sharesof FY2022

First nine months
31,820,729 sharesof FY2021* These quarterly financial results are outside the scope of quarterly review procedures by certified public accountants or
auditing firms.
* Explanation regarding the appropriate use of forecast of consolidated financial results and other special instructions
Descriptions regarding the future, including the financial outlook contained in this material, are based on certain information
currently available to the Company and particular assumptions, which are, at the discretion of the Company, deemed
reasonable and actual financial results may significantly vary due to various factors.

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

Contents
1. Qualitative Information on Quarterly Consolidated Financial Results ..................................................................................2(1) Explanation regarding Financial Results..........................................................................................................................2(2) Explanation regarding Financial Position ........................................................................................................................3(3) Explanation regarding Information on Future Forecasts including Consolidated Financial Forecasts, etc. ....................3
2. Quarterly Consolidated Financial Statements and Major Notes.............................................................................................4(1) Quarterly Consolidated Balance Sheets ...........................................................................................................................4(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income ......6(Quarterly Consolidated Statements of Income) ..............................................................................................................6(Quarterly Consolidated Statements of Comprehensive Income) ....................................................................................7(3) Notes on Quarterly Financial Statements .........................................................................................................................8(Notes on the Going Concern Assumption) .....................................................................................................................8(Notes on Significant Changes in the Amount of Shareholders' Equity) .........................................................................8(Application of Specified Accounting Methods for Preparation of Quarterly Consolidated Financial Statements) ........8(Segment Information, etc.) .............................................................................................................................................91

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

1. Qualitative Information on Quarterly Consolidated Financial Results(1) Explanation regarding Financial Results
During the first nine months of the fiscal year ending March 31, 2022 (April 1, 2021–December 31, 2021), the Japanese
economy gradually returned to normal from the situation in which economic activities were considerably restrained by the
spread of COVID-19. However, the nationwide resurgence of COVID-19 during this winter has caused the situation to
become unpredictable again, leaving consumption activities and the outlook for the economy uncertain.
In these circumstances, Ariake Japan Co., Ltd. (the "Company") and its Group companies (collectively, the "Ariake Group")
have been striving to ascertain customer needs early on, expand their existing businesses throughout the world, and actively
develop new businesses. In this way, the Ariake Group endeavors, as a leading manufacturer in the field of natural seasonings,
and also as a global enterprise setting up a "Global Seven-Pillar System," to fulfill its commitments to food safety, good
health, and better taste.
As a result of these efforts, the Ariake Group and the Company were able to record the following earnings results for the
first nine months ended December 31, 2021.
The Company's net sales increased by 4.7% (¥1,362 million) year on year to ¥30,410 million because of our sales andmarketing efforts focusing on a "customer first" approach.
Net sales of consolidated subsidiaries increased by 12.5% year on year.
As a result, consolidated net sales for the nine months under review increased by 6.3% year on year to ¥39,124 million (up¥2,329 million year on year).
The Company's operating income increased by 6.3% (¥350 million) year on year to ¥5,890 million due to an increase in net
sales. Consolidated operating income was ¥7,921 million, representing an increase of 8.3% (¥604 million) from the same
period in the previous fiscal year.
The Company's ordinary income increased by 8.5% (¥508 million) year on year to ¥6,522 million mainly due to an increasein foreign exchange gains compared with the previous fiscal year.
Consolidated ordinary income increased by 9.6% (¥733 million) year on year to ¥8,364 million.
The Company's quarterly net income increased by 4.9% (¥207 million) year on year to ¥4,408 million.
Quarterly net income attributable to shareholders of the parent company increased by 4.7% (¥246 million) year on year to¥5,522 million.
Financial results of the Company and its consolidated subsidiaries by region were described below.
- Net sales(Billions of yen)First nine months of
FY2022
Ariake Japan Co., Ltd.
Asia
EuropeJapan
Consolidated subsidiaries total
Total

30.41
5.60
2.90
0.21
8.71
39.12

First nine months of
FY2021

Difference

29.05
4.58
2.96
0.20
7.74
36.79

1.36
1.02
(0.06)
0.01
0.97
2.33

- Operating income(Billions of yen)First nine months of
FY2022
Ariake Japan Co., Ltd.
Asia
EuropeJapan
Consolidated subsidiaries total
Total

5.89
1.32
0.70
0.01
2.03
7.92

2

First nine months of
FY2021

5.54
1.09
0.67
0.01
1.77
7.31

Difference

0.35
0.23
0.03
0.00
0.26
0.61

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

(2) Explanation regarding Financial Position
As of December 31, 2021, consolidated total assets were ¥116,868 million. This represents an increase of ¥5,187 million
compared to March 31, 2021.
Total liabilities increased by ¥253 million to ¥13,067 million compared to March 31, 2021, mainly due to an increase innotes and accounts payable - trade. Net assets were ¥103,801 million, which represents an increase of ¥4,933 million fromMarch 31, 2021.
(3) Explanation regarding Information on Future Forecasts including Consolidated Financial Forecasts, etc.
We have not revised our forecast of the consolidated financial results which were announced on May 13, 2021. However,
we will disclose information in an appropriate manner if any material changes occur in the future.

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Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

2. Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly Consolidated Balance Sheets(Thousands of yen)

FY2021(As of March 31, 2021)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable - other
OthersAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Third Quarter of FY2022(As of December 31, 2021)

54,877,790

57,851,778

10,363,876

12,585,320

5,500,000

4,500,000

3,576,288

3,929,407

1,104,050

1,146,352

3,211,544

3,626,832

9,188

8,523

766,339

833,752(1,158)(1,165)79,407,920

84,480,801

22,701,250

23,209,112(13,526,976)(14,080,715)

Buildings and structures, net

9,174,273

9,128,396

Machinery, equipment and vehicles
Accumulated depreciation

25,883,368

27,076,894(20,807,568)(21,687,032)

5,075,799

5,389,861

4,607,350

4,633,494

61,924

101,517(57,441)(64,843)

4,483

36,674

Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Others
Accumulated depreciation

961,089

1,035,441

1,257,431

1,354,403(1,024,882)(1,104,012)

Others, net
Total property, plant and equipment

232,549

250,390

20,055,546

20,474,258

261,143

194,276

131,454

140,950

392,598335,227

10,852,886

11,049,532

6,793

6,045

566,932

148,235

18,102

15,449380,587

358,922

Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Real estate for investment, net
Deferred tax assets
OthersAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

(129)

(129)

11,825,173

11,578,056

32,273,317

32,387,542

111,681,238

116,868,344

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022
(Thousands of yen)

FY2021(As of March 31, 2021)

Third Quarter of FY2022(As of December 31, 2021)

Liabilities
Current liabilities
Notes and accounts payable - trade

4,451,434

5,129,493

3,851

5,311

Income taxes payable

1,904,615

1,041,006

Provision for bonuses

274,908

116,521

Provision for directors' bonuses

69,700－

Others2,243,125

2,455,978Total current liabilities

8,947,635

8,748,312

280

40,082

2,148,022

2,499,838

155,446

87,2451,331,966

1,464,352

230,291

227,3073,866,006

4,318,826

12,813,642

13,067,138

Capital stock

7,095,096

7,095,096

Capital surplus

7,840,343

7,964,413

Retained earnings

80,348,904

83,420,238

Treasury shares(2,100,667)(2,040,380)

Total shareholders' equity

93,183,676

96,439,367

4,298,161

4,782,467

Foreign currency translation adjustment

725,881

1,834,677

Remeasurements of defined benefit plans(4,036)(37,498)

5,020,006

6,579,646

663,912782,191

98,867,595

103,801,205

111,681,238

116,868,344

Lease obligations

Non-current liabilities
Lease obligations
Deferred tax liabilities
Provision for directors' retirement benefits
Net defined benefit liability
OthersTotal non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

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Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Thousands of yen)

Third Quarter of FY2021(April 1, 2020 to
December 31, 2020)

Third Quarter of FY2022(April 1, 2021 to
December 31, 2021)

Net sales

36,795,019

39,124,936

Cost of sales

24,108,448

25,661,887

Gross profit

12,686,571

13,463,048

Selling, general and administrative expenses

5,370,014

5,541,896

Operating income

7,316,557

7,921,151

Interest income

101,666

72,323

Dividend income

138,304

127,132

House rent income

25,883

14,788－

118,766

Others80,020127,974

Total non-operating income

345,874

460,986

Interest expenses

2,168

4,444

Foreign exchange losses

7,386

－

Non-operating income

Foreign exchange losses

Non-operating expenses

Cost of lease revenue

9,631

2,797

Others13,115

10,857

Total non-operating expenses

32,301

18,0987,630,129

8,364,038

Gain on sales of non-current assets－

17,252

Total extraordinary income－

17,252

Provision for directors' retirement benefits－

186,396

Total extraordinary losses－

186,396

Income before income taxes and minority interests

7,630,129

8,194,895

Income taxes

2,297,317

2,593,669

Quarterly net income

5,332,812

5,601,226

56,33778,3505,276,475

5,522,875

Ordinary income
Extraordinary income

Extraordinary losses

Quarterly net income attributable to non-controllinginterests
Quarterly net income attributable to shareholders of theparent company

6

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

(Quarterly Consolidated Statements of Comprehensive Income)(Thousands of yen)

Third Quarter of FY2021(April 1, 2020 to
December 31, 2020)
Quarterly net income

5,332,812

Third Quarter of FY2022(April 1, 2021 to
December 31, 2021)
5,601,226

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

157,466

484,306

Foreign currency translation adjustment(219,942)

1,168,499

Remeasurements of defined benefit plans

23,482(33,462)

Total other comprehensive income(38,993)

1,619,343

5,293,819

7,220,569

5,242,464

7,082,515

51,355138,053

Quarterly comprehensive income
Quarterly comprehensive income attributable to:
Quarterly comprehensive income attributable toshareholders of the parent company
Quarterly comprehensive income attributable to noncontrolling interests

7

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

(3) Notes on Quarterly Financial Statements(Notes on the Going Concern Assumption)
There is nothing to report.
(Changes in Accounting Policies)(Application of Accounting Standard for Revenue Recognition, etc.)

With the application of the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31,
2020; hereinafter referred to as the "Revenue Recognition Standard"), etc. effective from the beginning of the firstquarter of the current fiscal year, revenues from goods and services promised are recognized at the time when control
over the goods or services is transferred to the customer, at the amount expected to be received in exchange for the
goods or services. In association with this, the Company has applied the alternative treatment provided in paragraph
98 of the Implementation Guidance on Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30,
March 26, 2021), under which revenues from sale of merchandise or products in Japan are recognized at the timeof shipment if the period between shipment and the transfer of control over the merchandise or products to thecustomer is of a normal length. Regarding transactions in which the Company's role in providing merchandise tocustomers falls under the category of agent, the method of revenue recognition has been changed from the previous
method of recognizing the total amount of consideration received from the customer to the method of recognizing
the amount received from the customer net of the amount paid to the supplier of the merchandise, with the salescommissions and other consideration paid to the customer, which were previously recorded in selling, general andadministrative expenses, deducted from the transaction price.
The application of the Revenue Recognition Standard, etc. is in accordance with the transitional treatment provided
in the proviso to paragraph 84 of the Revenue Recognition Standard, and the cumulative effect of the retrospective
application of the new accounting policy prior to the beginning of the first quarter of the current fiscal year is added
to or subtracted from retaining earnings at the beginning of the period, with the new accounting policy applied fromthe beginning balance. The new accounting policy, however, has not been retrospectively applied to contracts forwhich almost all the revenue amount was recognized in accordance with the previous treatment prior to thebeginning of the first quarter of the current fiscal year, with the application of the method provided in paragraph 86of the Revenue Recognition Standard. In addition, contracts that were modified prior to the beginning of the firstquarter of the current fiscal year are accounted for under contract terms that reflect all of the contract modifications
with the application of the method provided in proviso (1) of paragraph 86 of the Revenue Recognition Standard,
and the cumulative effect is added to or subtracted from retained earnings at the beginning of the first quarter of thecurrent fiscal year.
As a result, net sales for the first nine months ended December 31, 2021 decreased by ¥671,496 thousand, cost of
sales by ¥521,028 thousand, selling, general and administrative expenses by ¥148,956 thousand, and each ofoperating income, ordinary income, and income before income taxes and minority interests by ¥1,511 thousand.
Furthermore, the beginning balance of retained earnings for the six months decreased by ¥777 thousand.
Moreover, in accordance with the transitional treatment provided in paragraph 28-15 of the Accounting Standard
for Quarterly Financial Statements (ASBJ Statement No. 12, March 31, 2020), information on the breakdown ofrevenue generated from contracts with customers for the first nine months of the previous fiscal year is not shown.
(Application of Accounting Standard for Fair Value Measurement, etc.)

The Company applied the Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, July 4, 2019;
hereinafter referred to as the "Fair Value Measurement Accounting Standard"), etc. effective from the beginning of
the first quarter of the current fiscal year, applying new accounting policies under the Fair Value Measurement
Accounting Standard, etc. prospectively in accordance with the transitional treatment provided in paragraph 19 of
the Fair Value Measurement Accounting Standard and paragraph 44-2 of the Accounting Standard for Financial
Instruments (ASBJ Statement No. 10, July 4, 2019). This application does not have any impact on the quarterly
consolidated financial statements.
(Notes on Significant Changes in the Amount of Shareholders' Equity)
There is nothing to report.
(Application of Specified Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
With respect to tax expenses, the effective tax rate after the application of tax effect accounting on income before income
taxes and minority interests of the consolidated fiscal year, including the third quarter under review were rationallyestimated and tax expenses were calculated multiplying income before income taxes and minority interests by said
estimated effective tax rate.
8

Ariake Japan Co., Ltd. (2815) Consolidated Financial Results for the Third Quarter of FY2022 Ending March 31, 2022

Adjustments for income and other taxes are included in income taxes.
(Segment Information, etc.)[Segment information]
Segment information is omitted because the natural seasonings business is our only segment.

9