Financial Results for the Fiscal Year Ended March 31, 2021
[Japanese GAAP] (Consolidated)
May 12,2021
Stock Listing: TSE

Name of Listed Company:
UCHIYAMA HOLDINGS INC.
Code Number: 6059
URL: http://www.uchiyama-gr.jp
Representative: Takehiro Yamamoto, President and Representative Director
Contact Point: Tetsuo Kawakami, Director of General Affairs Department
Phone: (093) 551-0002
Scheduled Date of Regular general meeting of shareholders: June 24, 2021
Scheduled Date of Dividend Payment Start: June 25, 2021
Scheduled Date of Financial Statements Filing: June 25, 2021
Supplementary materials for Financial Results: Yes
Investor conference for Financial Results: None

(Amounts are rounded down to the nearest one million yen)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 – March 31, 2021)(% of change from previous year)(1) Consolidated Financial Results
Profit attributable to owners of
Net sales
Operating income
Ordinary income
parentMillions of yen%

FY 2021
23,795FY 2020
30,295(Note) Comprehensive income

Millions of yen%

Millions of yen

Net income
per share

Diluted net income
per share

Millions of yen

Yen

Yen

(2) Consolidated Financial Position
Total assets%(15.0)
0.0
FY 2020: ¥ - million

Net assets

Millions of yen(3) Consolidated Cash Flow Position
Net cash provided by(used in) operating
activities

Equity ratio
13,674
16,078FY 2020: ¥16,078 million

Net cash provided by(used in) investing
activities(99.8)

Operating income to
net sales

%

%

(2.1)
4.4

(4.6)
3.6

Net assets per share

Millions of yen

29,75029,622
FY 2021: ¥13,674 million%(2,231)
2

Ordinary income tototal assets

Return on equity

FY 2021(115.43)
FY 2020
0.14(Reference) Equity in earnings of affiliated companies: FY 2021: ¥ - million

FY 2021
FY 2020(Reference) Equity capital:%(21.5)(1,085)
(616)
11.3
1,075
4.9
1,321
(0.4)
FY 2021: ¥(2,209) million (-%) FY 2020: ¥42 million (-95.9%)

%

Yen

46.0
54.3

707.38831.73

Net cash provided by(used in) financing
activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY 2021(857)(1,272)

2,269

10,509FY 2020

3,072(1,672)

113

10,371

2. Dividends
Dividend per share
End of
1Q

End of2Q

End of3Q

End ofFY

Annual

Yen

Yen

Yen

Yen

Yen

Total dividends Payout ratio(Annual)(Consolidated)
Millions of yen

Dividend-toequity ratio(Consolidated)%

FY 2020
5.00
5.00
10.00
194
7,288.9
FY 2021
5.00
5.00
10.00
194
FY 2022 (Forecast)(Note) Dividends for FY 2022 are still to be determined. We will announce them as soon as estimations become possible.
3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)
It is difficult to reasonably calculate the impact on our business performance from the COVID-19 pandemic at the present
stage. Therefore, we have set our business forecast for the fiscal year ending March 31, 2022 to pending. We will promptly
announce our business forecast when it becomes possible to do so in the future. For more information, please refer (4)Outlook on page 4 of Appendix.

%

1.2
1.3

*Notes(1) Changes in significant subsidiaries (changes of specified subsidiaries resulting in changes in scope of consolidation) during
the current term: None
(2) Changes in accounting policies, accounting estimates and restatements:
1) Changes in accounting policies due to revisions of accounting standards:
2) Changes in accounting policies due to reasons other than above 1):3) Changes in accounting estimates:
4) Restatements:(3) Number of outstanding shares (common shares)
1) Number of outstanding shares (including treasury
shares) at end of term

None
None
None
None

FY 2021

21,618,800 shares

FY 2020

21,618,800 shares

2) Number of treasury shares at end of term

FY 20212,287,777 shares

FY 2020

2,287,777 shares

3) Average number of shares during the period

FY 2021

19,331,023 shares

FY 2020

19,331,023 shares

Note: The shares in the Company possessed by Custody Bank of Japan, Ltd. (Trust E) as a trust asset of the “stock benefit trust(J-ESOP)” (as of March 31, 2021: 72,150 shares / March 31, 2020: 72,150 shares) are included in the number of treasury
shares at end of term. In addition, the shares in the Company possessed by Custody Bank of Japan, Ltd. (Trust E) are
included in the treasury shares to be deducted in the calculation of the average number of shares during the period (as ofMarch 31, 2021: 72,150 shares / March 31, 2020: 72,150 shares ).
(Reference) Summary of the Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 – March 31, 2021)(% of change from previous year)(1) Result of operations (Non-consolidated)
Net sales
Operating income
Ordinary income
Net income
FY 2021
FY 2020

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

1,446
1,055

37.0
6.4

910
499

82.4
13.6

950
534

77.7
5.4

787
523

Net income
per share
FY 2021
FY 2020

%

50.5
3.5

Diluted net income per
share
Yen

Yen

40.76
27.09

-

(2) Financial Position (Non-consolidated)
Total assets
Millions of yen

Net assets
Millions of yen

Equity ratio

Net assets per share%

FY 2021
9,027
6,089
67.5
FY 2020
7,110
5,495
77.3
(Reference) Equity capital:
FY 2021: ¥6,089 million
FY 2020: ¥5,495 million<Reasons for differences between non-consolidated result of operations for current fiscal year and previous fiscal year>
In the fiscal year that ended in March 2021, sales, operating income and ordinary income were higher than in the previous
fiscal year mainly because of an increase in dividends from subsidiaries and associates. In addition, the increase in net
income includes the effects of an addition of provision of allowance for investment loss and an increase in dividends fromsubsidiaries and associates.
* Summary of financial results is out of scope of review by certified public accountant or audit corporation.
* Statement regarding the proper use of financial forecasts and other remarks
・ Descriptions regarding the future, including the financial projections contained in this report, are based on certain
assumptions currently available to the Company, which are, at the discretion of the Company, deemed reasonable. Actual
financial results may significantly vary due to various factors.

Yen

315.02284.29

○Table of contents of the appendix
1. Overview of Results of Operations and Financial Condition ....................................................................................................... 2(1)
Overview of Results of Operations ................................................................................................................................ 2(2)
Overview of Financial Condition ................................................................................................................................... 3(3)
Overview of Cash Flow ................................................................................................................................................. 3(4)
Outlook .......................................................................................................................................................................... 4
2. Basic Approach to the Selection of Accounting Standards ........................................................................................................... 5
3.Consolidated Financial Statements and Important Notes .............................................................................................................. 6(1)
Consolidated balance sheet ............................................................................................................................................ 6(2)
Consolidated statements of income and comprehensive income.................................................................................... 8(3)
Consolidated statement of changes in equity ................................................................................................................10(4)
Consolidated statement of cash flows ...........................................................................................................................12(5)
Notes to the consolidated financial statements ..............................................................................................................14(Notes to going concern assumptions) .....................................................................................................................................14(Changes in presentation method) ...........................................................................................................................................14(Supplementary information) ..................................................................................................................................................14(Consolidated statements of income) .......................................................................................................................................15(Segment information, etc.) .....................................................................................................................................................15(Per share information) ............................................................................................................................................................20(Significant subsequent events) ...............................................................................................................................................20

1

1. Overview of Results of Operations and Financial Condition(1) Overview of Results of Operations
In the fiscal year that ended in March 2021, there was a sudden economic downturn in Japan as the COVID-19 pandemic
impacted economic activity. Although there were brief signs of a recovery after the first state of emergency ended, a new wave
of infections started late in 2020 and there is still no sign of when this crisis will end. As a result, the business climate remains
unstable and extremely challenging.
During the fiscal year, all business segments of the Uchiyama Group continued to place highest priority on preventing the
spread of COVID-19 while taking actions in response to the effects of this crisis on business operations.
There were also measures to improve operating efficiency by cutting costs in order to stabilize business performance.
Sales were down 21.5% from one year earlier to 23,795,670 thousand yen. There was an operating loss of 1,085,213 thousand
yen compared with an operating income of 1,075,874 thousand yen one year earlier, an ordinary loss of 616,781 thousand yen
compared with an ordinary income of 1,321,019 thousand yen one year earlier, and a loss attributable to owners of parent of
2,231,376 thousand yen compared with a profit of 2,652 thousand yen one year earlier.
The results of each segment were as follows.
a. Nursing Care Business
During the fiscal year, two daycare service locations were opened, including for after-school assistance for children with
developmental disabilities, and four fee-based nursing care facilities for seniors opened. As a result, there were 188 businesssites at 110 locations as of the end of the fiscal year.
This business has been using collaboration with academic institutions and governments for many years. Although we havebeen holding down activities involving these collaborations because of COVID-19, we will continue to conduct effective
activities as much as possible.
We are accepting many new residents of nursing care facilities while using thorough communications with individuals and theirfamilies, hospitals and other parties in order to ensure the safety of everyone who relocates to one of our facilities. As a result,the occupancy rate remained stable. The average occupancy rate at existing facilities during the fiscal year was 94.8% comparedwith 94.4% one year earlier.
To lower expenses, we hired more full-time employees, reduced the percentage of personnel from temporary staffing companies
and took other actions. Segment sales increased 5.0% to 20,005,764 thousand yen and segment income increased 35.2% to1,495,533 thousand yen.
b. Karaoke Business
The business climate for karaoke business was extremely challenging because of government requests to stay home and to
reduce operating hours to prevent the spread of COVID-19. The recovery in the number of customers has been slow mainly
because people are afraid of a fourth wave of infections. Karaoke locations are using rigorous measures to prevent COVID-19
infections in order to provide customers with a safe environment. Due to these challenges, segment sales fell 53.6% to 3,169,417
thousand yen and there was a loss of 1,271,276 thousand yen compared with income of 569,271 thousand yen one year earlier.
During the fiscal year, the karaoke business opened three new stores and closed six, resulting in 88 stores at the end of the fiscal
year, down from 91 one year earlier.
c. Restaurant Business
Five restaurants were closed during the fiscal year, resulting in 11 restaurants in Japan and two outside Japan at the end of the
fiscal year. As in the karaoke business, the operating environment for restaurants business continues to be very difficult becauseof COVID-19. As a result, sales were down 72.6% to 341,805 thousand yen and segment loss increased to 227,207 thousand
yen from 5,119 thousand yen one year earlier.
d. Real Estate Business
There was a large sale of real estate for sale in the previous fiscal year but no such large property transactions during the current
fiscal year. As a result, brokerage services for rental properties were the primary component of operations as usual in thisbusiness. Consequently, sales were down 94.6% to 158,907 thousand yen and segment income fell 94.4% to 30,940 thousandyen.
e. Other businesses
The hotel business benefited from the Japanese government’s Go To Travel campaign that began in July 2020. However, thisprogram was temporarily suspended starting on December 28, 2020, because of a new wave of COVID-19 cases. The result
was a downturn in the number of customers just as in the karaoke and restaurant businesses. As a result, segment sales decreased
41.9% to 119,775 thousand yen and segment loss increased to 103,326 thousand yen from 76,881 thousand yen one year earlier.

2(2) Overview of Financial Condition
Total assets at the end of current fiscal year were 29,750,166 thousand yen, 127,875 thousand yen higher than at the end of
previous fiscal year.
Current assets increased 499,775 thousand yen to 15,575,003 thousand yen. The major reasons for this change are increases of
191,153 thousand yen in cash and deposits and 315,814 thousand yen in other current assets and a 10,185 thousand yen decreasein notes and accounts receivable-trade.
Noncurrent assets decreased 371,899 thousand yen to 14,175,163 thousand yen. The major reasons for this change are decreasesof 735,630 thousand yen in other property, plant and equipment, 633,213 thousand yen in deferred tax assets, and 186,955
thousand yen in other investments and other assets and increases of 1,087,875 thousand yen in buildings and structures and100,010 thousand yen in land.
Liabilities at the end of current fiscal year were 16,075,699 thousand yen, 2,531,613 thousand yen higher than at the end of
previous fiscal year.
Current liabilities increased 1,226,283 thousand yen to 7,524,517 thousand yen. The major reasons for this change are increasesof 953,200 thousand yen in short-term borrowings and 384,875 thousand yen in current portion of long-term borrowings and adecrease of 154,401 thousand yen in other current liabilities.
Noncurrent liabilities increased 1,305,330 thousand yen to 8,551,181 thousand yen. The major reasons for this change are
increases of 1,352,199 thousand yen in long-term borrowings and 76,541 thousand yen in asset retirement obligation and adecrease of 133,530 thousand yen in other noncurrent liabilities.
Net assets at the end of the fiscal year decreased 2,403,737 thousand yen to 13,674,467 thousand yen. The major reason forthis change is the decrease in retained earnings as a result of the loss attributable to owners of parent and the payment ofdividends of surplus.

(3) Overview of Cash Flow
Cash and cash equivalents at the end of current fiscal year were 10,509,363 thousand yen, up 137,702 thousand yen from theend of previous fiscal year.
The status of each cash flow were as follows:(Cash flow from operating activities)
Net cash used in operating activities was 857,323 thousand yen compared with positive cash flow of 3,072,233 thousand yen
in the previous fiscal year. Major uses of cash were the net loss before income taxes of 1,188,242 thousand yen, a 225,343
thousand yen decrease in accrued consumption taxes, payments of 367,095 thousand yen related to temporary closures, andincome taxes paid of 545,793 thousand yen. Major sources of cash were recognitions of depreciation of 653,575 thousand yen,
impairment loss of 467,533 thousand yen, and loss of 392,357 thousand yen on temporary closures.
(Cash flow from investing activities)
Net cash used in investing activities was 1,272,616 thousand yen compared with 1,672,948 thousand in the previous fiscal year.
Major uses of cash were 1,629,838 thousand yen for purchase of property, plant and equipment and 445,955 thousand yen for
payments into time deposits. There were proceeds of 242,666 thousand yen from sales of property, plant and equipment,
400,470 thousand yen from withdrawal of time deposits and 328,468 thousand yen from cancelation of insurance funds.
(Cash flow from financing activities)
Net cash provided by financing activities was 2,269,938 thousand yen compared with 113,655 thousand yen in the previous
fiscal year. Major sources of cash were a 953,200 thousand yen net increase in short-term borrowings and proceeds of 4,786,100
thousand yen from long-term borrowings. Major uses of cash were 3,049,026 thousand yen for the repayment of long-termborrowings, 166,396 thousand yen for repayments of installment payables and 193,939 thousand yen for dividends paid.

3

(Reference) Cash flow indicators
Fiscal years ended March 31

FY2017FY2018FY2019FY2020

FY2021Equity ratio (%)

48.7

51.3

54.0

54.3

46.0

Market cap equity ratio (%)

28.2

38.3

29.6

20.9

25.5

Ratio of interest-bearing debt to cash flows(years)

6.5

5.1

-

3.2

-

Interest coverage ratio (X)

21.2

30.2

-

49.8

-

Equity ratio: Shareholders’ equity/Total assets
Market cap equity ratio: Market capitalization/Total assets
Ratio of interest-bearing debt to cash flows: Interest-bearing debt/Cash flows
Interest coverage ratio: Cash flows/Interest expenses
Notes 1. A consolidated basis is used for all of these indicators.
2 Cash flows are operating cash flows.
3. Market capitalization is calculated by multiplying the closing stock price at the end of the fiscal year by the
number of shares issued at the end of the fiscal year (after deducting treasury shares).
4. Interest-bearing debt is all debt on the consolidated balance sheet for which interest is paid.
5. No ratio of interest-bearing debt to cash flows and interest coverage ratio are shown for the fiscal years that
ended in March 2019 and March 2021 because operating cash flows were negative.

(4) Outlook
Although COVID-19 vaccinations have started in Japan, it is still impossible to predict when this crisis will end. Consequently,
we assume that the impact of COVID-19 on the karaoke and restaurant businesses will not end soon.
Due to this outlook, we have not established a forecast for the fiscal year ending in March 2022 because of the difficulty ofdetermining reasonably at this time how much COVID-19 will affect sales and earnings. An announcement will be madepromptly as soon as it becomes possible to determine a reasonable forecast.
There is also no forecast for the dividend for the fiscal year ending in March 2022. There are many uncertainties about the
impact of COVID-19 on business performance due to the current severity of this pandemic, operations of the Uchiyama Group’s
stores and other reasons. Consequently, determining a suitable and reasonable forecast for results of operations is not possibleat this time.

42. Basic Approach to the Selection of Accounting Standards
The Uchiyama Group plans to use Japanese accounting standards for its consolidated financial statements for the time being
because most of its business activities are in Japan. However, the need to start using IFRS is expected to increase in the coming
years as the scale of global operations increases. The use of IFRS will play an important role concerning decisions made byinvestors, financial institutions and other parties in Japan and other countries. Hence, Uchiyama Group is planning to deliberateon the application of the IFRS including the appropriate timing of introduction.

5

3.Consolidated Financial Statements and Important Notes(1) Consolidated balance sheet(Thousands of yen)Previous Fiscal Year(As of March 31, 2020)

Current Fiscal Year(As of March 31, 2021)

10,678,737

10,869,891

Accounts receivable - trade
Merchandise

2,205,597
48,657

2,195,411
40,691

Real estate for sale
Supplies

1,040,569
317

1,041,185
330

Other
Allowance for doubtful accounts

1,111,685(10,337)

1,427,500(6)

Total current assets

15,075,227

15,575,003

13,498,447(8,860,033)

14,720,742(8,994,452)

4,638,414

5,726,289

Land

2,505,871

2,605,881

Other
Accumulated depreciation

4,045,337(2,704,533)

3,451,954(2,846,781)

AssetsCurrent assets
Cash and deposits

Noncurrent assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Property, plant and equipment, net

Other, net

1,340,803

605,173

8,485,089

8,937,345

Intangible assets

56,25854,916

Investments and other assets
Investment securities

927,797

957,969

338,232
637,742

318,6324,528

2,464,472
1,658,906

2,459,682
1,471,950

Total property, plant and equipment

Long-term loans receivable
Deferred tax assets
Leasehold and guarantee deposits
Other
Allowance for doubtful accounts(21,435)(29,863)

Total investments and other assets

6,005,715

5,182,901

14,547,062

14,175,163

29,622,290

29,750,166

Total noncurrent assets
Total assets

6

(Thousands of yen)Previous Fiscal Year(As of March 31, 2020)

Current Fiscal Year(As of March 31, 2021)

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings

587,223
1,079,600

529,977
2,032,800

Current portion of bonds payable
Current portion of long-term borrowings

60,0002,274,206

60,0002,659,081

Income taxes payable
Provision for bonuses

199,758
300,658

262,558
294,874

Provision for point card certificates
Provision for shareholder benefit program

106,564
15,810116,140
16,365

Asset retirement obligations
Other

1,674,413

32,7081,520,011

Total current liabilities

6,298,234

7,524,517

180,000
5,927,609

120,000
7,279,808

Deferred tax liabilities
Asset retirement obligations

371,561
222,031440,673
298,573

Provision for share-based remuneration
Other

2,503
542,146

3,511
408,615

7,245,851

8,551,181

13,544,085

16,075,699

Shareholders’ equity
Share capital

2,222,935

2,222,935

Capital surplus
Retained earnings

2,664,695
12,409,369

2,664,695
9,983,960

Treasury shares(1,164,420)(1,164,420)

Total shareholders’ equity

16,132,579

13,707,171

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(53,206)(1,168)(32,210)(492)

Total accumulated other comprehensive income(54,374)(32,703)

Total net assets

16,078,205

13,674,467

Liabilities and net assets

29,622,290

29,750,166

Noncurrent liabilities
Bonds payable
Long-term borrowings

Total noncurrent liabilities
Total liabilities
Net assets

Accumulated other comprehensive income7(2) Consolidated statements of income and comprehensive income
Consolidated statement of income(Thousands of yen)Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)

Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)

30,295,077
27,493,539
2,801,537

23,795,670
23,195,361
600,309

194,667
303,328
528,969
4,764
8,619
15,747925
668,641
1,725,663
1,075,874

183,328
311,854548,035
8,550
16,30097
617,356
1,685,522(1,085,213)

7,257
23,293
143,633
76,707
69,46054,388374,740

9,961
36,514
102,762
100,031239,557
95,466584,294

60,102
26,512
26,65016,331
129,596
1,321,019

59,521
36,412
19,929115,863(616,781)-

89,177942
39,350183,671
313,140

11,209
1,078,457
1,089,667
231,351
428,064(199,364)
228,699
2,652
2,652

24,710467,533
392,357
884,601(1,188,242)
349,985
693,148
1,043,134(2,231,376)(2,231,376)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Remuneration for directors (and other officers)
Salaries and allowances
Taxes and dues
Provision of allowance for doubtful accounts
Provision for bonuses
Provision for shareholder benefit program
Share-based remuneration expenses
Other
Total selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividend income
Commission income
Insurance claim income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Loss on disaster
Other
Total non-operating expenses
Ordinary income (loss)
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on insurance claims
Subsidy income*1
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Loss on temporary closure*2
Total extraordinary losses
Income (loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income (loss)
Profit (loss) attributable to owners of parent

8

Consolidated statement of comprehensive income(Thousands of yen)Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)

Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)

Net income (loss)

2,652(2,231,376)

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

41,06620,995

Foreign currency translation adjustment(1,380)675

Total other comprehensive income

39,685

21,670Comprehensive income

42,337(2,209,705)

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

42,337(2,209,705)

-

-

9

(3) Consolidated statement of changes in equity
Previous fiscal year (Apr. 1, 2019 –Mar. 31, 2020)(Thousands of yen)
Shareholders' equity

Balance at beginning of period

Share capital

CapitalsurplusRetainedearnings

TreasurysharesTotal shareholders'equity2,222,935

2,664,695

12,600,748(1,164,420)

16,323,959

Changes during period
Dividends of surplus(194,031)(194,031)

2,652

2,652

Profit (loss) attributable to owners ofparentNet changes in items other thanshareholders' equity
Total changes during period
Balance at end of period--(191,379)-(191,379)

2,222,935

2,664,695

12,409,369(1,164,420)

16,132,579

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

Foreign currencytranslation adjustment(94,272)212

Total accumulated
other comprehensive
incomeTotal net assets(94,059)

16,229,899

Changes during period
Dividends of surplus
Profit (loss) attributable toowners of parent
Net changes in items other thanshareholders' equity(194,031)
2,652
41,066(1,380)39,68539,685

Total changes during period

41,066(1,380)39,685(151,694)

Balance at end of period(53,206)(1,168)(54,374)

16,078,205

10

Current fiscal year (Apr. 1, 2020 –Mar. 31, 2021)(Thousands of yen)
Shareholders' equity

Balance at beginning of period

Share capital

CapitalsurplusRetainedearnings

TreasurysharesTotal shareholders'equity2,222,935

2,664,695

12,409,369(1,164,420)

16,132,579

Changes during period
Dividends of surplus
Profit (loss) attributable to owners ofparentNet changes in items other thanshareholders' equity
Total changes during period
Balance at end of period(194,031)(194,031)(2,231,376)(2,231,376)--(2,425,408)-(2,425,408)

2,222,935

2,664,695

9,983,960(1,164,420)

13,707,171

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Foreign currencytranslation adjustment

Total accumulated
other comprehensive
incomeTotal net assets(53,206)(1,168)(54,374)

16,078,205

Changes during period
Dividends of surplus
Profit (loss) attributable toowners of parent
Net changes in items otherthan shareholders' equity(194,031)(2,231,376)
20,995675

21,67021,670Total changes during period

20,995675

21,670(2,403,737)

Balance at end of period(32,210)(492)(32,703)

13,674,467

11

(4) Consolidated statement of cash flows
Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)(Thousands of yen)
Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)

231,351
774,095
1,078,457
3,138
58,893(1,188,242)
653,575
467,533(1,903)(5,783)

17,135

9,576

2,715

555

2,503

1,008

(30,550)
60,102
11,209(116,562)
2,220,175(213,926)(45,576)(285,999)
3,767,163
26,594(61,740)(769,105)
109,321
3,072,233(46,476)
59,521
24,710(89,177)(942)(39,350)(183,671)
392,357
10,181
7,098(225,343)(56,821)(49,405)(260,999)
40,941(58,735)
52,600183,671(367,095)(545,793)
98,087(857,323)(1,621,825)(1,629,838)(11,000)(12,800)

77,736(472)(16,900)(200,000)
354,176(285,036)
283,806(82,761)

242,666(21,150)(32,200)(120,450)
121,392(445,955)
400,470(58,413)

94,68362,829(183,793)(132,332)
50,801(30)(1,672,948)(135,532)
328,468(25,128)53,01510(1,272,616)

Cash flows from operating activities
Income (loss) before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for point cardcertificates
Increase (decrease) in provision for shareholder
benefit program
Increase (decrease) in provision for share-based
remuneration
Interest and dividend income
Interest expenses
Loss on retirement of non-current assets
Loss (gain) on sales of non-current assets
Loss (gain) on sales of investment securities
Gain on insurance claims
Subsidy income
Loss on temporary closure
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in accrued consumption taxes
Increase (decrease) in trade payables
Other
SubtotalInterest and dividends received
Interest paid
Proceeds from insurance income
Proceeds from subsidy income
Payments related to temporary closures
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Payments for retirement of property, plant andequipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Payments for asset retirement obligations
Purchase of investment securities
Proceeds from sales of investment securities
Payments into time deposits
Proceeds from withdrawal of time deposits
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Purchase of insurance funds
Proceeds from cancellation of insurance funds
Loan advances
Collection of loans receivable
Other
Net cash provided by (used in) investing activities

12(Thousands of yen)Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)

Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)

722,600
2,680,000(2,764,039)(60,000)(270,767)(194,137)
113,655

953,200
4,786,100(3,049,026)(60,000)(166,396)(193,939)
2,269,938

2,634(2,295)

1,515,574
8,856,086
10,371,661

137,702
10,371,661
10,509,363

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Repayments of installment payables
Dividends paid
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
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period13(5) Notes to the consolidated financial statements(Notes to going concern assumptions)
Nothing is applicable.
(Changes in presentation method)(Consolidated balance sheet)
In the fiscal year that ended in March 2020, “Construction in progress” was a separate item under “Property, plant andequipment”. Due to a decline in the materiality of this item, it is included in “Other” under “Property, plant and equipment”
in the balance sheet as of March 31, 2021. The balance sheet for the previous fiscal year has been revised for consistency
with this change.
As a result, “Construction in progress” of 930,597 thousand yen and “Other” of 3,114,739 thousand yen under “Property,
plant and equipment” in the previous balance sheet as of March 31, 2020, have been combined, resulting in “Other” of
4,045,337 thousand yen.
(Consolidated statement of cash flows)
In the fiscal year that ended in March 2020, “Increase (decrease) in other current liabilities” was a separate item under “Cashflows from operating activities”. Due to a decline in the materiality of this item, it is included in “Other” for the fiscal yearthat ended in March 2021. The cash flow statement for the previous fiscal year has been revised for consistency with thischange.
As a result, “Increase (decrease) in other current liabilities” of negative 303,308 thousand yen and “Other” of 17,309
thousand yen in the previous fiscal year have been combined, resulting in “Other” of negative 285,999 thousand yen.
(Supplementary information)(Use of a trust for the distribution of Uchiyama Holdings shares to employees, etc.)
On August 10, 2018, the shareholders of Uchiyama Holdings approved a resolution to establish a stock benefit trust (J-ESOP)for the distribution of Uchiyama Holdings shres as an incentive plan to employees (including employees of Uchiyama
Holdings subsidiaries, same hereafter). The purposes of the J-ESOP are to increase the link between employees’
compensation and Uchiyama Holdings’ stock price and results of operation and to increase the motivation of employees toachieve the growth of sales and earnings.
(1) Summary
The J-ESOP is a framework for distributing Uchiyama Holdings shares, in accordance with shares distribution rules
determined by Uchiyama Holdings in advance, to employees who meet the applicable requirements. Shares to be
distributed to employees, including future distributions, is purchased by a trust established in advance. The shares aremanaged separately as trust assets.
(2) Uchiyama Holdings shares remaining in the trust
Uchiyama Holdings shares remaining in the trust is included in the treasury shares item of net assets based on the bookvalue (excluding incidental expenses) of the shares. The book value and number of shares of this treasury shares were35,137 thousand yen and 72,150 shares, respectively, as of March 31, 2020 and 2021.
(Effect of COVID-19 on accounting estimates)
There is considerable uncertainty about the effects of the COVID-19 pandemic due to the length of this crisis and its
increasing impact. This crisis is having an enormous economic impact, including the activities of companies, and it is
impossible to predict accurately if this crisis will escalate even more or when this crisis will end. Accounting estimates(recognition and measurement of the impairment loss of noncurrent assets, recoverability of deferred tax assets) are based on
the assumption that the effects of the COVID-19 pandemic will continue until at least the first half of the fiscal year ending inMarch 2023.
Uchiyama Holdings uses the best possible estimates that are based on information that is currently available. However, if
upcoming events differ from the assumption stated above, there may be an effect on the financial condition, results ofoperations and cash flows of the Uchiyama Holdings Group.

14

(Consolidated statements of income)*1 Subsidy income
Payments have been received for temporarily closing or reducing operating hours of stores in response to requests fromthe Japanese government and local governments for measures to prevent the spread of COVID-19. In addition,
employment adjustment subsidies and other payments have been received for payments made to employees who were
furloughed due to the temporary closing or reduced operating hours of stores. These subsidies of 183,671 thousand yen
are classified as extraordinary income.
*2 Loss on temporary closure
We have temporarily closed or shortened business hours of stores in response to requests from the government and local
governments to contain the spread of the COVID-19 pandemic.
The fixed costs incurred during the temporary closure (personnel costs, rents, depreciation, etc.) of 392,357 thousand yen
are posted as loss on temporary closure in extraordinary loss.
(Segment information, etc.)[Segment information]
1. Summary of reportable segments(1) Method for determining reportable segments
Reportable segments of the Uchiyama Group are business units for which separate financial information is available andwhere the Board of Directors performs periodic examinations for the allocation of resources and assessment of results ofoperations.
In the Uchiyama Group, the head office has business departments for each service. These business departments establish
comprehensive strategies for their respective services and other activities and conduct business operations. As a result,
there are four reportable segments based on the services of each business department: Nursing care business, Karaokebusiness, Restaurant business and Real estate business.
(2) Types of products and services for each reportable segment
The Nursing care business operates fee-based nursing homes, daycare service centers, group homes and care plan centers
for seniors, sells and rents equipment used to care for seniors, and operates an after-school daycare service for children
with developmental disabilities. The Karaoke business operates karaoke stores and the Restaurant business operates
Japanese-style pubs (izakaya). The Real estate business buys and sells real estate for sale and has a leasing, property
management and brokerage operation for buildings, residences and other properties.
2. Method to calculate sales, income or loss, assets and other items for each reportable segment
In general, the same accounting methods used for preparing the consolidated financial statements are used for accounting
procedures involving individual reportable segments.
Reportable segment income or loss are based on the operating income or loss.
Intersegment transactions and transfers are based on prevailing market prices.

15

3. Information on sales, income or loss, assets and other items for each reporting segment
Previous fiscal year (April 1, 2019 - March 31, 2020)(Thousands of yen)
Reporting segments
Nursing Care
Business

KaraokeBusiness

Restaurant
Business

Other businesses(Note)

Real EstateBusiness

Total

Total

Sales
Sales to external customers

19,050,915

6,832,737

1,249,241

2,955,853

30,088,748

206,328

30,295,077

Internal sales or transferred
amount among the segments

-

9,940

46,652

1,200

57,792

3

57,795

19,050,915

6,842,678

1,295,894

2,957,053

30,146,541

206,332

30,352,873

Segment income (loss)

1,106,496

569,271(5,119)556,820

2,227,468(76,881)2,150,587

Segment assets

9,994,835

3,596,795

573,800

1,852,464

16,017,896

146,777

16,164,674

303,286

375,404

44,606

11,448734,745

5,978

740,723

1,072,569

436,933

6,627-

1,516,129

15,705

1,531,835

Total

Other items
Depreciation
Increase in property, plant andequipment and intangible
assets(Note)

The classification “Other businesses” refers to business segments that are not included in reporting segments andincludes hotel business.

Current fiscal year (April 1, 2020 - March 31, 2021)(Thousands of yen)
Reporting segments

Nursing Care
Business

KaraokeBusiness

Restaurant
Business

Other businesses(Note)

Real EstateBusiness

Total

Total

Sales
Sales to external customers

20,005,764

3,169,417

341,805

158,907

23,675,895

119,775

23,795,670

Internal sales or transferred
amount among the segments-

507

39,7701,200

41,477-

41,47720,005,764

3,169,925

381,575

160,107

23,717,373

119,775

23,837,148

Segment income (loss)

1,495,533(1,271,276)(227,207)

30,94027,989(103,326)(75,336)

Segment assets

11,153,178

3,294,780

392,700

1,693,746

16,534,405

145,558

16,679,964

331,390249,738

23,7329,900

614,7624,819

619,581

1,259,606

420,456

42,938-1,723,002

136

1,723,139

Total

Other items
Depreciation
Increase in property, plant andequipment and intangible
assets(Note)

The classification “Other businesses” refers to business segments that are not included in reporting segments andincludes hotel business.

16

4. Information on difference and adjustment between total amount of reporting segments and consolidated financial statements(Thousands of yen)
Sales
Previous fiscal year
Current fiscal year
Total of reporting segments

30,146,541

23,717,373

Sales classified into “Other businesses”

206,332

119,775

Intersegment eliminations(57,795)(41,477)

30,295,077

23,795,670

Sales on the consolidated financial statements

Income(Thousands of yen)
Current fiscal year

Previous fiscal year

Total of reporting segments

2,227,468

27,989

Income (loss) classified into “Other businesses”(76,881)(103,326)

Intersegment eliminations

533,161

503,017

Corporate expenses (Note)(1,607,874)(1,512,893)

Income (loss) on the consolidated financial statements
1,075,874(1,085,213)(Note)
Corporate expenses are primarily selling, general and administrative expenses that do not belong to specific segments.

Assets(Thousands of yen)
Current fiscal year

Previous fiscal year

Total of reporting segments

16,017,896

Assets classified into “Other businesses”

16,534,405

146,777

145,558

Eliminations of receivables(4,927,394)(4,989,474)

Corporate assets (Note)

18,385,010

18,059,676

Total assets on the consolidated financial statements
29,622,290
29,750,166(Note)
Corporate assets are primarily unused funds under management (cash and deposits) and long-term investments(investment securities) not classified into reporting segments, and assets used by administrative departments.

Other items

Depreciation

Total of reporting
segments

Other

Adjustments (Notes)

Amount on
consolidated financial
statements

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

734,745614,762

5,978

4,819

33,371

33,994

774,095

653,575

Increase in property,
plant and equipment and
1,516,129 1,723,002
15,705136
46,30654,358 1,578,141 1,777,497
intangible assets(Notes) 1. The adjustments of depreciation (33,371 thousand yen in previous fiscal year and 33,994 thousand yen in current fiscal
year) are mainly allocated to administrative departments of headquarters.
2.The adjustments of increase in property, plant and equipment and intangible assets (46,306 thousand yen in previous
fiscal year and 54,358 thousand yen in current fiscal year) are corporate capital investments that are not allocated toreporting segments.

17

[Related information]
Previous fiscal year (April 1, 2019 - March 31, 2020)
1. Information about individual products and services
Omitted because this information is the same as the reportable segment information.
2. Information by region(1) Sales
Omitted because sales to external customers in Japan are more than 90% of net sales in the consolidated statement ofincome.
(2) Property, plant and equipment
Omitted because property, plant and equipment in Japan is more than 90% of the property, plant and equipment in the
consolidated balance sheet.
3. Information by major customer(Thousands of yen)
Name

Sales

Fukuoka National Health Insurance Organization

Related segment
5,028,003

Nursing Care BusinessCurrent fiscal year (April 1, 2020 - March 31, 2021)
1. Information about individual products and services
Omitted because this information is the same as the reportable segment information.
2. Information by region(1) Sales
Omitted because sales to external customers in Japan are more than 90% of net sales in the consolidated statement ofincome.
(2) Property, plant and equipment
Omitted because property, plant and equipment in Japan is more than 90% of the property, plant and equipment in the
consolidated balance sheet.
3. Information by major customer(Thousands of yen)
Name

Sales

Fukuoka National Health Insurance Organization

Related segment
5,066,690

18

Nursing Care Business[Information about impairment loss of noncurrent assets in reportable segments]
Previous fiscal year (April 1, 2019 - March 31, 2020)(Thousands of yen)
Reporting segments
Nursing Care
Business

Impairment loss
(Note)

17,178

KaraokeBusiness

Restaurant
Business

973,753

73,604

Real EstateBusiness

13,719Corporate/elimination

Other

201

Total

-

1,078,457

The amount in “Other” is related to hotel business.

Current fiscal year (April 1, 2020 - March 31, 2021)(Thousands of yen)
Reporting segments
Nursing Care
Business

Impairment loss
(Note)

6,392

KaraokeBusiness

Restaurant
Business

335,087

78,105

Real EstateBusiness

47,948

Corporate/elimination

Other

-

The amount in “Other” is related to hotel business.

[Information about amounts of amortization of goodwill and remaining goodwill in reportable segments]
Nothing is applicable.
[Information about gain on bargain purchase in reportable segments]
Nothing is applicable.

19

Total

-

467,533

(Per share information)
Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)
Net assets per share

831.73(Yen)
Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)
707.38Net income (loss) per share
0.14(115.43)(Notes) 1.Diluted net income per share for previous fiscal year is not shown because there are no dilutive securities.
Diluted net income per share for current fiscal year is not shown because there was a loss per share and there are
no dilutive securities.
2.Shares of Uchiyama Holdings held by Custody Bank of Japan, Ltd. (Trust E) as a trust asset of the “stock benefit
trust (J-ESOP)” are included in the treasury shares, which is deducted from the number of outstanding shares at
end of the fiscal year for calculating net assets per share (72,150 shares in the fiscal years that ended in March 2020
and 72,150 shares in the fiscal years that ended in March 2021).
These trust asset shares are also included in the treasury shares deducted in calculating the average number of shares
during the period for determining net income or loss per share (72,150 shares in the fiscal years that ended in March
2020 and 72,150 shares in the fiscal years that ended in March 2021).
3.The basis for calculating net income (loss) per share is as follows.
(Thousands of yen)
Item

Previous Fiscal Year
(Apr. 1, 2019 - Mar. 31, 2020)

Profit (loss) attributable to owners of parent

Current Fiscal Year
(Apr. 1, 2020 -Mar. 31, 2021)

2,652(2,231,376)--

Profit (loss) attributable to owners of parent ofcommon shares

2,652(2,231,376)

Average number of common shares for the period

19,331,023 shares

19,331,023 shares

Profit (loss) not attributable to common shareholders(Significant subsequent events)
Nothing is applicable.

20