(Translation)

May 15, 2020
To all parties concerned:
FIELDS CORPORATION
Chairman, President and Group CEO:
Hidetoshi Yamamoto(TSE 1st: 2767)
Inquiries: Hideaki Hatanaka
Corporate Officer, General Manager,
Business Management Department
Tel.: +81-3-5784-2111

Notification of Partial Revisions of Summary of Financial Information and Business Results for
the First Half of the Year Ending March 31, 2020 (revision of texts and numerical data)
FIELDS CORPORATION hereby announces that it has partially revised the Summary of Financial Information andBusiness Results for the First Half of the Year Ending March 31, 2019 released on November 7, 2019. The Company also
hereby announces the revision of numerical data.

1. Details and reason of revision
Please refer to the Notification Regarding Partial Revision of Summary of Financial Information and Consolidated
Business Results, etc. for the Previous Fiscal Year announced on May 15, 2020.

2. Revised parts
The whole revised sentence is attached, and the revisions are marked with underline.

1Summary(Translation)

FIELDS CORPORATION
Summary of Financial Information and Consolidated Business Results
for the First Half of the Year Ending March 31, 2020 (Japan GAAP)
November 7, 2019
Listed on: TSE 1st
Company Name:
Stock code:
Representative Director:
Inquiries:
Tel:

FIELDS CORPORATION(URL: https://www.fields.biz/ir/e/)
2767
Hidetoshi Yamamoto
Chairman, President and Group CEO
Hideaki Hatanaka
Corporate Officer+81-3-5784-2111

Planned date for submission of the quarterly report:
Planned date for start of dividend payment:
Quarterly earnings supplementary explanatory materials:
Quarterly financial briefing:

November 13, 2019―No
Yes (For institutional investors and security analysts)(Rounded down to the nearest million)

1. Consolidated business results for the first half of the year ending March 31, 2020 (April 1, 2019 to September 30, 2019)(1) Consolidated operating results (cumulative total)(Percentage figures denote YoY changes)
Net salesFirst half of year ending
March 31, 2020
First half of year ended
March 31, 2019
(Note) Comprehensive income

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

27,77253.9(2,750)―(2,534)―(2,756)―

18,041(48.8)(3,906)―(4,062)―(3,251)―First half of the year ending March 31, 2020: ¥ (3,412) million (―%)
First half of the year ended March 31, 2019: ¥ (2,849) million (―%)

Profit per shareFirst half of year ending
March 31, 2020
First half of year ended
March 31, 2019

Diluted profit per share
Yen

Yen

(83.08)―(97.98)―(2) Consolidated financial position

Millions of yen

Millions of yen

Shareholders’ equity
ratio%

55,33431,05655.4

67,45034,63850.8

Total assets
First half of year ending
March 31, 2020
Year ended March 31, 2019
(Reference) Shareholders’ equity

Net assets

First half of the year ending March 31, 2020: ¥ 30,635 million
Year ended March 31, 2019: ¥ 34,233 million

2. Dividends
Q1-endYear ended March 31, 2019Year ending March 31, 2020
Year ending March 31, 2020

Annual dividends
Q3-endQ2-endYear-end

Annual

Yen

Yen

Yen

Yen

Yen

―
―

0.00
0.00

―

10.00

10.00

―

10.00

10.00

(Forecast)(Note) Revision of the most recently released dividend forecasts: No

3. Forecast of consolidated earnings for the fiscal year ending March 31, 2020 (April 1, 2019 to March 31, 2020)

Millions of yen%

Millions of yen

%

1,500

―

1,500

―

1,000

Operating profit
Full-year(Percentage figures denote YoY changes)
Profitper share

Profit attributable toowners of parent
Millions of yen%

Ordinary profit(Note) Revision of the most recently released performance forecasts: No
FIELDS CORPORATION discloses a full-year business forecast, as it manages its business performance on an annual basis.
A full-year forecast of net sales is not disclosed considering the current pachinko/pachislot market environment.

―

Yen
30.14

*Notes(1) Transfer of important subsidiaries during the year under review (Transfer of specific subsidiaries that results in a change in thescope of consolidation): No(2) Application of the accounting method specific to quarterly consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates, and revisions/restatements
1) Changes in account policies due to the revision to the accounting standards, etc.: No
2) Changes in accounting policies due to any reason other than those in 1) above: No
3) Changes in accounting estimates: No4) Revisions/restatements: No(4) Number of shares issued (common shares)
1) Number of shares issued at end of year (including treasury shares)
First half of the year ending March 31, 2020
34,700,000 sharesYear ended March 31, 201934,700,000 shares
2) Number of shares of treasury shares at end of year
First half of the year ending March 31, 2020
1,516,300 sharesYear ended March 31, 2019
1,516,300 shares
3) Average number of shares outstanding (quarterly consolidated cumulative period)First half of the year ending March 31, 2020
33,183,700 sharesFirst half of the year ended March 31, 201933,183,700 shares* Summary of Financial Information and Consolidated Business Results are not subject to audit.
* Explanation of the appropriate usage of forecast earnings and other specific matters# This document contains projections of performance and other projections that were made based on information currently available
and certain assumptions judged to be reasonable. The actual results may differ significantly from forecast figures due to the various
factors. Please refer to (1) Analysis of operating results and consolidated earnings forecasts under 1. Qualitative information on thequarterly financial results on page two of the attached documents for details of assumptions for financial forecasts and other related
matters.
# The Company is planning to hold a financial briefing for analysts and institutional investors on Friday, November 8, 2019.
Materials distributed at that briefing will be posted on the Company’s website after the briefing as soon as possible.

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

Table of contents of Attached Document
1. Qualitative information on the quarterly financial resultsꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 2(1) Analysis of operating results and consolidated earnings forecasts .......................................................................2(2) Analysis of financial position...............................................................................................................................3
2. Quarterly consolidated balance sheets and important notes ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 4(1) Quarterly consolidated balance sheets .................................................................................................................4(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income................6(3) Quarterly consolidated statements of cash flows .................................................................................................8(4) Note regarding the quarterly consolidated financial statements ...........................................................................9(Note regarding the operation of the company as a going concern) ...................................................................... 9(Note regarding occurrence of significant change in amount of shareholders’ equity) .......................................... 9(Application of the accounting method specific to quarterly consolidated financial statements) .......................... 91

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

1. Qualitative information on the quarterly financial results(1) Analysis of operating results and consolidated earnings forecastsi.) Analysis of operating results
In the pachinko/pachislot market, manufacturers are developing and bringing new-regulation machine* to market.
New-regulation machine, which offers a variety of new game functions within a reasonable amount of money, has received acertain reputation from pachinko halls and fans as a “pachinko/pachislot that customers can enjoy with peace of mind.” This
has raised expectations for market revitalization.
Amid these market conditions, we have conducted marketing analyses from the user’s point of view on all the new-regulation
machine that have been introduced into pachinko halls, and have refined the quality so that all products can be introduced into
pachinko halls as an attractive products that users can enjoy.

[Results for the first half of the current fiscal year (six months)]
In the pachinko/pachislot distribution services business, we sold 22,600 units in the second quarter and recorded sales of a
total of 64,500 units (up 50.1% YoY) including 41,900 units in the first quarter. In the pachinko/pachislot machine installationand parts checking business, sales grew to net sales ¥144 million (up approximately 2.4 times YoY) and net sales ¥400 million(up approximately 3.2 times YoY) in the web ad business. The pachinko/pachislot development division has steadily wonorders for development projects from the next fiscal year onward.
At the other company, Tsuburaya Productions Co., Ltd. (hereinafter referred to as “Tsuburaya Productions”) is pursuing avariety of initiatives, including the production of the large film SHIN ULTRAMAN, monetization of movies, and expansion oflicensing revenues. In Digital Frontier Inc., which conducts the video production business, its performance is proceeding
steadily with orders for animation, games, pachinko/pachislot and other video production.
As a result, consolidated results for the first half of the fiscal year under review were as follows: net sales ¥27,772 million (up53.9% YoY), operating loss ¥2,750 million (an improvement of ¥1,156 million YoY), ordinary loss ¥2,534 million (animprovement of ¥1,527 million YoY), and loss attributable to owners of parent ¥2,756 million (an improvement of ¥494
million YoY).

ii.) Explanation of consolidated earnings forecasts
The full-year consolidated financial results forecast, including the current situation, is progressing as planned, and there are nochanges to the content in the “Summary of Financial Information and Consolidated Business Results for the Year Ended March
31, 2019” announced on May 15, 2019.

[Progress in the second half of the fiscal year ending March 31, 2020]
In the pachinko/pachislot distribution services business, we have already commenced sales of several pachinko/pachislot
machines, including the mainstay title NEON GENESIS EVANGELION Rebirth of Angels, as well as Pachislot Salaryman
Kintaro -MAX-, CARD BATTLE PACHI-SLOT MOBILE SUIT GUNDAM X-OVER, and ayumi hamasaki -LIVE in CASINO-. In
addition, preparations for the launch of titles, scheduled for release in the fourth quarter, are proceeding smoothly.
Tsuburaya Productions is expanding its business both in Japan and overseas. During the fiscal year under review, thedistribution of ULTRAMAN, a 3DCG animation series in NETFLIX and elsewhere, as well as season 2 production,
merchandising and licensing, progressed largely as planned.
The performance of the other companies was also favorable, and the business for the fiscal year under review was in line withthe plan.
*

Pachinko/pachislot machine based on Regulation Partially Amending the Ordinance for Enforcement of the Act on Control and Improvement of Amusement

Business and the Regulations for the Verification of Licenses, Formats and Other Aspects of Pachinko and Pachislot Machines effective on February 1, 20182

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

(2) Analysis of financial position(Assets)
Current assets decreased ¥6,667 million from the end of the previous fiscal year to ¥40,718 million. This was mainly due toa decrease in cash and deposits and a decrease in notes and accounts receivable-trade.
Property, plant and equipment decreased ¥986 million from the end of the previous fiscal year to ¥5,178 million. This was
mainly due to a decrease in tools, furniture and fixtures.
Intangible assets decreased by ¥161 million from the end of the previous fiscal year to ¥3,009 million. This was mainly due
to a decrease in goodwill.
Investments and other assets decreased ¥4,300 million from the end of the previous fiscal year to ¥6,427 million. This was
mainly due to a decrease in investment securities.
As a result, total assets amounted to ¥55,334 million, down ¥12,115 million from the end of the previous fiscal year.
(Liabilities)
Current liabilities decreased ¥5,178 million from the end of the previous fiscal year to ¥16,295 million. This was mainly
due to a decrease in notes and accounts payable-trade and a decrease in short-term loans payable.
Non-current liabilities decreased ¥3,354 million from the end of the previous fiscal year to ¥7,982 million. This was mainly
due to a decrease in long-term loans payable.
As a result, total liabilities amounted to ¥24,278 million, down ¥8,533 million from the end of the previous fiscal year.
(Net assets)
Net assets decreased ¥3,581 million from the end of the previous fiscal year to ¥31,056 million. This was mainly due to adecrease in retained earnings.
(Analysis of cash flows)
Cash and cash equivalents (hereinafter referred to as “cash”) at the end of the second quarter of the current fiscal year
decreased by ¥5,581 million from the end of the previous fiscal year to ¥23,226 million.
(Cash flows from operating activities)
Net cash used in operating activities was ¥2,361 million (¥4,177 million used in the same period of the previous fiscal
year). This was mainly attributable to a loss before income taxes of ¥2,744 million, a decrease in notes and accounts
payable-trade of ¥3,080 million, a decrease in notes and accounts receivable-trade of ¥1,930 million, depreciation of ¥726
million, and amortization of goodwill of ¥279 million.
(Cash flows from investing activities)
Net cash provided by investing activities amounted to ¥1,715 million (¥1,652 million provided in the same period of theprevious fiscal year). This was mainly due to proceeds from sales of investment securities of ¥3,519 million and purchase ofnon-current assets of ¥1,621 million.
(Cash flows from financing activities)
Net cash used in financing activities was ¥4,935 million (compared with ¥531 million used in the same period of theprevious fiscal year). This was mainly due to repayments of long-term loans payable of ¥3,324 million, a decrease of
short-term loans payable of ¥1,496 million, and cash dividends paid of ¥331 million.

3

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

2. Quarterly consolidated balance sheets and important notes(1) Quarterly consolidated balance sheets

Fiscal year ended
March 31, 2019(as of March 31, 2019)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Electronically recorded monetary claims-operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land(Unit: Millions of yen)Six months ended
September 30, 2019(as of September 30, 2019)

28,907
6,157

23,326
5,795

1,070
750
5,130
2,229
3,247
(108)

97
545
5,440
2,273
3,365
(126)

47,38540,718

1,676

1,644

Other

4,488

3,534

Total property, plant and equipment

6,165

5,178

2,715
455

2,435
574

Intangible assets
Goodwill
Other
Total intangible assets

3,170

3,009

Investments and other assets
Investment securities
Long-term loans receivable
Other
Allowance for doubtful accounts

5,785
1,738
4,893
(1,689)

1,460
1,722
4,919
(1,673)

Total investments and other assets

10,7286,427

20,064

14,61667,45055,334

8,160
5,960
2,580
120
249
10
4,391

4,966
4,464
2,663
75
259
4
3,861

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Other
Total current liabilities

21,474

16,295

Non-current liabilities
Long-term loans payable
Net defined benefit liability
Asset retirement obligations
Other

6,847
628
903
2,957

3,689
642
882
2,767

Total non-current liabilities

11,337

7,982

32,811

24,278

Total liabilities

4Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

(Unit: Millions of yen)Six months ended
September 30, 2019(as of September 30, 2019)

Fiscal year ended
March 31, 2019(as of March 31, 2019)
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

7,948
7,579
19,904(1,821)

7,948
7,579
16,815(1,821)

33,61030,522

598

87

0
23

0
24

622

112

404

421

34,63831,05667,45055,334

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income
Quarterly consolidated statements of income
First half of the year ending March 31, 2020

Net sales
Cost of sales

Six months ended
September 30, 2018
(April 1, 2018
–September 30, 2018)
18,041
14,189(Unit: Millions of yen)Six months ended
September 30, 2019
(April 1, 2019
–September 30, 2019)27,772
23,620Gross profit

3,852

4,151

Selling, general and administrative expenses

7,759

6,902

Operating loss

(3,906)(2,750)

52
78
37

14
79
107

-

42

Non-operating income
Interest income
Dividend income
Purchase discounts
Share of profit of entities accounted for using equity
methodDistribution from investments

85

11

Other

68

56

Total non-operating income

323

313

39

34

421

-

1
1
14

23
39

478

97

Ordinary loss

(4,062)(2,534)Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on sales of shares of subsidiaries and associates
Gain on liquidation of subsidiaries and associates
Other

18
361
1,400
9

16
17
-

1,790

34

38
315
386
63
59

0
212
30
1

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodAmortization of equity investment
Financing expenses
Other
Total non-operating expenses

Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Loss on sales of investment securities
Loss on business restructuring
Loss on litigation
Other
Total extraordinary losses
Profit (loss) before income taxes

863

244

(3,135)(2,744)

Income taxes

100

(0)

Profit (loss)(3,236)(2,744)

Profit attributable to non-controlling interests

15

12

Profit (loss) attributable to owners of parent(3,251)(2,756)6

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

Quarterly consolidated statements of comprehensive income
First half of the year ending March 31, 2020

Profit (loss)
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total other comprehensive income

Six months ended
September 30, 2018
(April 1, 2018
–September 30, 2018)(3,236)(Unit: Millions of yen)Six months ended
September 30, 2019
(April 1, 2019
–September 30, 2019)(2,744)

364
0
21

(511)
0
1

386

(509)

Comprehensive income(2,849)(3,253)Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests(2,867)(3,270)17

16

7

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

(3) Quarterly consolidated statements of cash flows(Unit: Millions of yen)Six months ended
September 30, 2019
(April 1, 2019
–September 30, 2019)

Six months ended
September 30, 2018
(April 1, 2018
–September 30, 2018)
Cash flows from operating activities
Loss before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for directors’ bonuses
Increase (decrease) in net defined benefit liability
Interest and dividend income
Share of (profit) loss of entities accounted for using
equity method
Interest expenses
Decrease (increase) in notes and accounts
receivable-trade
Decrease (increase) in inventories(3,135)
527
315
155
(35)
(50)
(5)
(4)
(130)

(2,744)
726
279
2
10
(5)
15
(94)

421

(42)

39

34

3,042

1,930

1,286

(149)

Decrease (increase) in merchandising right advances
Increase (decrease) in notes and accounts payable-trade
Loss (gain) on sales of shares of subsidiaries andassociates
Other, net(84)(6,610)(153)(3,080)(1,348)

-

966

881

Subtotal(4,650)(2,390)

132
(39)
381

94
(34)
(30)

(4,177)(2,361)

(145)
117
(66)
528
-

(1,413)
48
(207)
200
3,519
(10)

1,800

1

(140)
24
(465)

24
(446)

Net cash provided by (used in) investing activities

1,652

1,715

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Other, net

938(1,290)(168)(11)(1,496)250(3,324)
(331)
(33)

(531)

(4,935)Interest and dividend income received
Interest expenses paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from redemption of investment securities
Proceeds from sales of investment securities
Purchase of shares of subsidiaries and associates
Proceeds from sales of shares of subsidiaries andassociates
Payments of loans receivableCollection of loans receivable
Other, net

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents

0(0)(3,055)(5,581)

Cash and cash equivalents at beginning of period

24,37328,807

Cash and cash equivalents at end of period

21,31823,2268

Summary of Financial Information and Consolidated Business Results for the First Half of the Year Ending March 31, 2020

(4) Note regarding the quarterly consolidated financial statements(Note regarding the operation of the company as a going concern)
No relevant items(Note regarding occurrence of significant change in amount of shareholders’ equity)
No relevant items(Application of the accounting method specific to quarterly consolidated financial statements)
Assessment of tax expenses
The Company makes a reasonable estimate of the effective tax rate after the application of tax effect accounting on profit
before income taxes for the year ending March 31, 2020, including the six months ended September 30, 2019, and calculates
tax expenses by multiplying profit before income taxes during the six months ended June September, 2019 by the estimatedeffective tax rate.

9