Consolidated Financial Results for the First Quarter of the Fiscal YearEnding March 31, 2022 (JGAAP)

August 2, 2021

Listed company name: FUNAI ELECTRIC CO., LTD.
Securities code: 6839
https://www2.funai.co.jp/en/index.html
Representative: Koji Bando, Chairman and CEO
Contact: Atsushi Kato, General Manager of Accounting Department
Scheduled date of filing of Quarterly Report: August 4, 2021
Scheduled date for Commencement of Dividend Payment: ―Preparation of supplementary materials for Quarterly Financial Results: Yes
Quarterly Financial Results meeting held: No

Stock exchange listing: TokyoTelephone: +81-72-870-4395(Any fraction is rounded down to the nearest million yen)

1. Consolidated Financial Results for the First Quarter of Fiscal Year Ending March 31, 2022 (April 1, 2021 to June 30, 2021)(1) Consolidated operating results (three months total)
Net Sales
Q1 of FY2021(ending March 31, 2022)
Q1 of FY2020(ended March 31, 2021)(% figures represent changes from the same period in the previous year)

Operating Income (Loss)Net Income (Loss) Attributableto Owners of Parent%%
Million yen

Ordinary Income (Loss)

Million yen%

Million yen%

Million yen

20,451

10.6(469)―(489)―(528)―

18,490

18.2

245―

417

―

292

―

Note: Comprehensive Income: Q1 of FY2021: (590) million yen (―%)

Q1 of FY2020: 45 million yen (―%)

Net Income (Loss) Per Share

Diluted Net Income (Loss) Per Share
Yen

Yen

(15.50)8.58

Q1 of FY2021 (ending March 31, 2022)
Q1 of FY2020 (ended March 31, 2021)(2) Consolidated Financial Position

Total Assets――Net Assets

Million yen

Equity Ratio
Million yen%

Q1 of FY2021 (ending March 31, 2022)
76,714
51,256FY202073,771
51,826
Reference: Shareholders’ equity: Q1 of F2021: 51,199 million yen
FY2020: 51,772 million yen

66.7
70.2

2. Dividends
Q1 endFY2020
FY2021
FY2021 (forecast)――

Q2 endYen

Annual Dividends Per Share
Q3 endYen

0.00―

Year-end

Yen

―

―

Total
Yen

Yen

0.000.00――

Note: As announced in the press release “Announcement of Opinion on the Tender Offer for Shares, Etc. in FUNAI ELECTRIC CO., LTD. by SHUWA SYSTEMHOLDINGS CO., LTD.” dated March 23, 2021, the Company intends to make the Company its wholly-owned subsidiary through the tender offer (the “TenderOffer”) for the common shares of FUNAI ELECTRIC CO., LTD. (the “Company”; and such shares, the “Company Shares”) and the Stock Acquisition Rights
by SHUWA SYSTEM HOLDINGS CO., LTD. (the “Tender Offeror”) and a series of subsequent procedures. The Tender Offer has been completed, and asannounced in the press release “Notice of Resolutions to Approve Share Consolidation and to Approve Abolition of the Number of Shares Constituting OneUnit and Partial Amendment to the Articles of Incorporation” dated July 28, 2021, the Company’s shares are scheduled to be delisted on August 26, 2021, andtherefore the dividend forecast for the fiscal year ending March 31, 2022 is not provided.

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 2022 (April 1, 2021 to March 31, 2022)
As announced in the press release “Announcement of Opinion on the Tender Offer for Shares, Etc. in FUNAI ELECTRIC CO., LTD. by SHUWA SYSTEMHOLDINGS CO., LTD.” dated March 23, 2021, the Company intends to make the Company its wholly-owned subsidiary through the Tender Offer for the Company
Shares by the Tender Offeror and a series of subsequent procedures. The Tender Offer has been completed, and as announced in the press release “Notice ofResolutions to Approve Share Consolidation and to Approve Abolition of the Number of Shares Constituting One Unit and Partial Amendment to the Articles ofIncorporation” dated July 28, 2021, the Company’s shares are scheduled to be delisted on August 26, 2021, and therefore the consolidated financial forecast for thefiscal year ending March 31, 2022 is not provided.

* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes of the scope ofconsolidation): No
Newly included: – (Company name)

Excluded: – (Company name)(2) Application of special accounting methods for preparing quarterly consolidated financial statements: Yes(Note) For details, please refer to “2. Quarterly Consolidated Financial Statements and Main Notes (3) Notes on quarterly consolidated
financial statements (Application of special accounting methods for preparing quarterly consolidated financial statements)” on
Page 8 of the attachment.
(3) Changes in accounting policies, changes in accounting estimates, and retrospective restatement
1) Changes based on revisions of accounting standards: Yes
2) Changes other than ones stated in 1) above: No3) Changes in accounting estimates: No4) Retrospective restatement: No(Note) For details, please refer to “2. Quarterly Consolidated Financial Statements and Main Notes (3) Notes on quarterly consolidated
financial statements (Changes in accounting policies)” on Page 8 of the attachment.
(4) Number of outstanding shares (Common stock)1) Number of outstanding shares at end of the period (including treasury stocks)
Q1 of FY2021: 36,130,796 shares
Q1 of FY2020: 36,130,796 shares
2) Number of shares of treasury stock at end of the period
Q1 of FY2021: 2,012,300 shares
Q1 of FY2020: 2,011,830 shares
3) Average number of outstanding shares during the period (first three months)
Q1 of FY2021: 34,118,679 shares
Q1 of FY2021: 34,118,966 shares* Quarterly financial results are not subject to quarterly review by certified public accountants or audit firms.
* Explanation for appropriate use of financial forecasts and other special matters
1. As announced in the press release “Announcement of Opinion on the Tender Offer for Shares, Etc. in FUNAI ELECTRIC CO., LTD. by SHUWA SYSTEMHOLDINGS CO., LTD.” dated March 23, 2021, the Company intends to make the Company its wholly-owned subsidiary through the Tender Offer for theCompany Shares by the Tender Offeror and a series of subsequent procedures. The Tender Offer has been completed, and as announced in the press release“Notice of Resolutions to Approve Share Consolidation and to Approve Abolition of the Number of Shares Constituting One Unit and Partial Amendment to theArticles of Incorporation” dated July 28, 2021, the Company’s shares are scheduled to be delisted on August 26, 2021, and therefore the financial forecast for thefiscal year ending March 31, 2022 is not provided.
2. The Company plans to post the presentation materials for the first quarter of the fiscal year ending March 31, 2022 on its website promptly on the same day as theannouncement of financial results.