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 Nine Months Ended June 30, 2022
(Based on Japanese GAAP)
August 12, 2022
Company name:
Kufu Company Inc.
Stock exchange listing: Tokyo
Stock code:
4376
URL https://kufu.co.jp/
Representative:
Director & Representative Executive Officer
Inquiries:
Director & Executive Officer
Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:Yoshiteru Akita
Jun Kanma
TEL 03-6264-2323
August 12, 2022
–
Yes
Yes
(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended June 30, 2022 (from October 1, 2021 to June 30, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changesProfit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended June 30, 2022
13,303
–
1,006
–929
–234
–
Nine months ended June 30, 2021––––––––(Note) EBITDA (operating profit + depreciation and amortization): Nine months ended June 30, 2022: 1,773 million yen [–%]
Nine months ended June 30, 2021: – million yen [–%]
Earnings per share

Diluted earnings per share
Yen
4.02
–

Nine months ended June 30, 2022
Nine months ended June 30, 2021

Yen
4.01
–(2) Consolidated financial position
Total assets

Net assets

Millions of yen
21,456–

As of June 30, 2022
As of September 30, 2021

Equity ratio

Millions of yen
10,637–%42.8–

2. Cash dividends
Annual dividends per share

Year ended September 30, 2021
Year ending September 30, 2022
Year ending September 30, 2022
(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen–
0.00

Yen––Yen–TotalYen–––

3. Forecast of consolidated financial results for the year ending September 30, 2022 (from October 1, 2021 to September 30, 2022)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
18,000Operating profit% Millions of yen–
1,300

EBITDA% Millions of yen
–
2,300

1%
–

4. Notes(1) Changes in significant subsidiaries during the nine months ended June 30, 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:

Yes
No(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:No
Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

58,286,139 shares As of September 30, 2021– sharesNumber of treasury shares at the end of the period
As of June 30, 2022

451,013 shares As of September 30, 2021

– sharesAverage number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended June 30, 2022

58,227,226 shares Nine months ended June 30, 2021

2– shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of June 30, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
MerchandiseWork in process
Raw materials and supplies
Real estate for sale
Operational investment securities
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Outstanding claims
Policy reserve
Short-term borrowings
Current portion of long-term borrowings
Asset retirement obligations
Income taxes payableProvision for bonuses
Provision for point services
Correction related cost
Provision for loss on business liquidation
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Asset retirement obligations
Provision for share awards
Other
Total non-current liabilities
Total liabilities

7,525,484
921,641
119,335
476,140
5,057
2,714,014
1,993,520
1,241,495(38,052)
14,958,638
476,891
3,692,357
510,643
4,203,001
598,081
1,506,258(293,431)
1,810,908
6,490,800
6,869
21,456,309

541,652
9,830
2,922
3,467,657
1,210,579
3,523
187,945
8,725
4,754
45,4205,641
2,608,062
8,096,714
8,250
2,406,070
94,797
154,066
59,0802,722,264
10,818,978

3

(Thousands of yen)
As of June 30, 2022
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

13,1289,016,684
972,861(198,850)
9,803,824(622,892)
7,415(615,476)
10,362
1,438,619
10,637,330
21,456,309

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended
June 30, 2022
Net sales
13,303,181
Cost of sales
6,542,352
Gross profit
6,760,828
Selling, general and administrative expenses
5,754,541
Operating profit
1,006,287
Non-operating income
Interest income
150
Foreign exchange gains
34,094
Other
20,696
Total non-operating income
54,941Non-operating expenses
Interest expenses
33,685
Commission expenses
53,864
Loss on equity method investment
32,264
Other
11,735
Total non-operating expenses
131,549
Ordinary profit
929,679
Extraordinary income
Gain on sale of non-current assets
239
Gain on reversal of share acquisition rights
430
Total extraordinary income
670
Extraordinary losses
Loss on sale of non-current assets
8,934
Loss on retirement of non-current assets
1,860
Impairment losses
1,738
Provision for loss on business liquidation
12,137
Settlement package
10,000Other
11,472
Total extraordinary losses
46,142
Profit before income taxes
884,207
Income taxes - current
445,596
Income taxes - deferred
65,323
Total income taxes
510,919
Profit373,287
Profit attributable to non-controlling interests
139,174
Profit attributable to owners of parent
234,113

5Consolidated statements of comprehensive income (cumulative)(Thousands of yen)
Nine months ended
June 30, 2022
Profit373,287
Other comprehensive income
Valuation difference on available-for-sale securities(1,078,855)
Foreign currency translation adjustment
8,339
Total other comprehensive income(1,070,515)
Comprehensive income(697,227)
Comprehensive income attributable toComprehensive income attributable to owners of(836,402)
parentComprehensive income attributable to non139,174
controlling interests6