Note:

This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Fiscal Year Ended February 28, 2022
<Under Japanese GAAP>
April 12, 2022
TOHO CO., LTD.
Tokyo Stock Exchange/Fukuoka Stock Exchange
9602
https://www.toho.co.jp/
Yoshishige Shimatani
President
Inquiries:
Harunori Kato
Senior Executive Officer in charge of Finance & Accounting, Corporate Management
Group
TEL:
+81-3-3591-1221
Scheduled date of annual general meeting of shareholders:
May 26, 2022
Scheduled date to commence dividend payments:
May 27, 2022
Scheduled date to file Annual Securities Report:
May 26, 2022
Preparation of supplementary material on financial results:
Yes
Holding of financial results presentation meeting:Yes (for analysts)

Company name:
Listing:
Securities code:
URL:
Representative:(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the fiscal year ended February 28, 2022 (from March 1, 2021 to
February 28, 2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Operating revenue
Fiscal year ended
February 28, 2022
February 28, 2021

Millions of yen

228,367
191,948

Note: Comprehensive income

Operating profit%

19.0(27.0)

Millions of yen%

39,94822,44778.0(57.5)

Fiscal year ended February 28, 2022
Fiscal year ended February 28, 2021

Basic earnings per
share

Diluted earnings
per share

Profit attributable toowners of parent

Ordinary profit
Millions of yen

42,79024,195%

Millions of yen

76.9(56.1)

29,568
14,688%101.3(59.9)¥32,487 million [81.2%]¥17,930 million [(41.4)%]

Return on equity

Ordinary profit/
total assets

Operating profit/
net sales

%

%

%
Yen
Yen
Fiscal year ended
February 28, 2022
167.24–
7.7
February 28, 2021
82.54
–
3.9
Reference: Share of profit (loss) of entities accounted for using equity method
Fiscal year ended February 28, 2022
¥243 million
Fiscal year ended February 28, 2021
¥168 million

8.8
5.0

17.5
11.7

(2) Consolidated financial position
Total assets
Millions of yen
As ofFebruary 28, 2022
502,532
February 28, 2021
473,804
Reference: Equity
As of February 28, 2022
As of February 28, 2021

Net assets
Millions of yen

409,181
389,011¥395,722 million¥375,820 million

Equity ratio

Net assets per share
%

78.7
79.3

Yen

2,241.23
2,115.44

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
February 28, 2022
February 28, 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen

Millions of yen

Millions of yen

53,46012,512(36,030)(27,226)(12,482)(17,220)

92,34185,827

2. Cash dividends
Annual cash dividends per share

Fiscal year ended
February 28,
2021
Fiscal year ended
February 28,
2022
Fiscal year
ending February
28, 2023(forecast)

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Total cash
dividends(Total)Firstquarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Total

–

17.50

–

17.50

35.00

6,229

42.4

1.7

–

17.50

–

27.50

45.00

7,960

26.9

2.1

–

20.00

–

20.00

40.00

Breakdown of year-end dividends

Fiscal year ended February 28, 2022

24.8
Special dividend – ¥10.00

3. Consolidated earnings forecasts for the fiscal year ending February 28, 2023 (from March 1, 2022
to February 28, 2023)(Percentages indicate year-on-year changes.)

Fiscal year ending
February 28, 2023

Operating revenue

Operating profit

Millions ofyenMillions ofyen

232,000%–

38,000%–

Profit attributableto owners of parent

Ordinary profit
Millions ofyen

41,000%–Millions ofyen

28,500%–Basicearnings
per shareYen

161.20Note: Please note that the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc. will be adopted
from the beginning of the fiscal year ending February 28, 2023, and the consolidated earnings forecasts reflect the
adoption of the accounting standard. As such, year-on-year percentage changes are not provided.

* Notes(1) Changes in significant subsidiaries during the period: None
(2) Changes in accounting policies, changes in accounting estimates, and restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Noneb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement: None
(3) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of February 28, 2022

186,490,633 shares

As of February 28, 2021

186,490,633 sharesb. Number of treasury shares at the end of the period
As of February 28, 2022

9,925,592 shares

As of February 28, 2021

8,834,605 sharesc. Average number of shares during the period
Fiscal year ended February 28, 2022

176,797,902 sharesFiscal year ended February 28, 2021

177,951,279 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended February 28, 2022 (from March 1,
2021 to February 28, 2022)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Operating revenue
Fiscal year ended
February 28, 2022
February 28, 2021

Operating profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

120,831
104,793

15.3(14.2)

29,936
20,21648.1(34.4)

33,212
24,772

34.1(29.6)

24,90318,06637.8(28.2)

Basic earnings per
share
Fiscal year ended
February 28, 2022
February 28, 2021

Ordinary profit

Diluted earnings per
share

Yen

Yen

140.56101.34––(2) Non-consolidated financial position
Total assets
Millions of yen
As ofFebruary 28, 2022
428,631
February 28, 2021
398,293
Reference: Equity
As of February 28, 2022
As of February 28, 2021

Net assets

Equity ratio

Net assets per share

Millions of yen%

Yen

293,125
278,32068.4
69.9

1,655.37
1,563.77¥293,125 million¥278,320 million

* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
1. The forward-looking statements, including earnings forecasts, contained in these materials are basedon information currently available to the Company and on certain assumptions deemed reasonable by
the Company. Actual results may differ significantly from these forecasts due to various factors. For
the assumptions underlying the earnings forecasts and notes on their use, please refer to “1. Overview
of Operating Results, etc., (4) Future outlook” on page 5 of the accompanying materials.
2. The supplementary document on financial results is disclosed on the same day as the financial results,
and it is made available on the Company’s website. Please direct inquiries regarding the supplementary
document on financial results to the Company’s Public Relations & Investor Relations, General Affairs
Department (+81-3-3591-1303).

TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Attached Material
1. Overview of Operating Results, etc. .................................................................................................................................... 2(1) Overview of operating results for the fiscal year under review.......................................................................................2(2) Overview of financial position for the fiscal year under review .....................................................................................4(3) Overview of cash flows for the fiscal year under review ................................................................................................5(4) Future outlook.................................................................................................................................................................5
2. Basic Policy on Selection of Accounting Standards............................................................................................................. 9
3. Consolidated Financial Statements and Significant Notes Thereto.................................................................................... 10(1) Consolidated balance sheet ...........................................................................................................................................10(2) Consolidated statement of income and consolidated statement of comprehensive income...........................................12(3) Consolidated statement of changes in equity ................................................................................................................14(4) Consolidated statement of cash flows ...........................................................................................................................16(5) Notes to consolidated financial statements ...................................................................................................................18(Notes on going concern assumption)...........................................................................................................................18(Segment information)..................................................................................................................................................18(Per share information) .................................................................................................................................................21(Significant subsequent events) ....................................................................................................................................21- 1 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

1.

Overview of Operating Results, etc.

(1) Overview of operating results for the fiscal year under review
During the fiscal year under review, the outlook for the Japanese economy remained uncertain becauseof some weakness in economic recovery, despite gradual easing of the difficult situation caused by thenovel coronavirus disease (COVID-19).
In the movie industry, box office receipts for 2021 totaled ¥161,893 million, showing a recovery but
increasing only by 13.0% from the previous year, which was significantly affected by COVID-19 withthe simultaneous closure of theaters nationwide.
Under these conditions, due to the declaration of states of emergency, the Group carried out measures
such as temporary closures/shortened operating hours at movie theaters, commercial facilities, etc.;
restrictions on sales for admission; and the suspension of theatre performances as well as thesuspension of ticket sales for some performances. On the other hand, blockbuster releases distributed
by TOHO such as “Jujutsu Kaisen: Zero” and works under the TOHO animation label contributed tofinancial results. Furthermore, even after lifting of state of emergency, the Company continued
business, while taking appropriate measures to prevent infection. As a result, the Company recorded
operating revenue of ¥228,367 million (up 19.0% year on year), operating profit of ¥39,948 million(up 78.0% year on year), ordinary profit of ¥42,790 million (up 76.9% year on year), and profit
attributable to owners of parent of ¥29,568 million (up 101.3% year on year). Extraordinary income
was recorded as “Subsidy income” for subsidies for employment adjustment received due to special
measures because of the impact of COVID-19, subsidies from the Japanese and local governments,
etc. Extraordinary losses were recorded as “Loss caused by temporary closures” for personnel
expenses, rent expenses, depreciation, etc. during the temporary closures of theaters, commercial
facilities, etc. and production expenses, etc. pertaining to suspended theatre performances.
The operating results by segment are as follows.

Cinema businessIn the Production and Distribution business, “Jujutsu Kaisen: Zero,” “EVANGELION:3.0+1.0
THRICE UPON A TIME,” “Detective Conan: The Scarlet Bullet,” “Belle,” “Masquerade Night” and“My Hero Academia: World Heroes’ Mission” were blockbusters for TOHO CO., LTD. out of thecollaborative productions and distributed works. “Monster Hunter” was collaboratively distributed by
Towa Pictures Co., Ltd., and “Fast & Furious 9,” “No Time to Die,” etc. were distributed by TohoTowa Co., Ltd. As a result, operating revenue in the Production and Distribution business was ¥40,439
million (up 1.5% year on year) and operating profit was ¥11,507 million (up 77.6% year on year).
Combining the Production and Distribution department and the International business department of
TOHO CO., LTD., revenue was ¥47,475 million (down 3.9% year on year) before intracompany
transfers deduction (¥4,316 million, up 42.7% year on year). This consists of domestic distribution
revenue of ¥35,893 million (down 9.9% year on year), income from a film work that belongs to the
producer of ¥1,792 million (up 185.9% year on year), international sales income of ¥3,706 million (up84.1% year on year), TV program sales revenue of ¥869 million (down 36.3% year on year),videogram revenue of ¥530 million (down 53.5% year on year) and revenue from the Internet andother distribution of ¥4,684 million (up 5.5% year on year). Furthermore, revenue from the Planningand Production department was ¥1,608 million (up 69.2% year on year) before intracompany transfers
deduction (¥842 million, up 59.6% year on year).
In the Movie Theater Chain business, TOHO Cinemas Co., Ltd. carried out measures such as closuresand shortened business hours in Tokyo, Osaka, etc., and restrictions on sales for admission due to thedeclaration of state of emergency, and the situation continued to be difficult even after lifting of stateof emergency due to the release of works being postponed and response to requests for shortened
business hours from local governments to prevent the rebound of COVID-19. However, it saw anincrease in revenue due to the above distributed works being blockbusters in addition to theaterclosures, etc. not lasting as long compared with the previous fiscal year. As a result, the number ofmovie theater customers in the fiscal year under review increased by 18.5% year on year to 30,008,000.

- 2 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Operating revenue in the Movie Theater Chain business was ¥57,673 million (up 24.7% year on year)
and operating profit was ¥1,678 million (operating loss of ¥1,100 million in the previous fiscal year).
With regard to theater changes in the fiscal year under review, TOHO Cinemas Co., Ltd. opened“TOHO Cinemas Sevenpark Amami” (10 screens) in Matsubara-shi, Osaka on November 17. As aresult, the number of screens managed by the corporate group increased by 10 to 712 throughout Japan(including 56 collaboratively managed screens).
In the Production and Licensing business, sales of works under the animation label, TOHO animation,
performed favorably in each business. In the Home Entertainment business, the TV animation“Umamusume: Pretty Derby Season 2” saw favorable sales, and the TV animation “JUJUTSU
KAISEN” and “TOUKEN RANBU the Stage,” and the movie “Godzilla vs. Kong” as well as others
were made available. Revenue in the Animation Production business increased as a result of royalty
from various platform such as royalty from merchandising rights through investing into the productionof the TV animation “JUJUTSU KAISEN,” “My Hero Academia,” “Godzilla Singular Point,”“Haikyuu!!,” etc. as well as the movies “My Hero Academia: World Heroes’ Mission” and “Jujutsu
Kaisen: Zero.” In the Publishing and Merchandising business, sales of souvenir programs andcharacter goods grew for the movies “Detective Conan: The Scarlet Bullet,” “My Hero Academia:
World Heroes’ Mission” and “Jujutsu Kaisen: Zero,” and the TV animation “JUJUTSU KAISEN.”TOHO Studios Co., Ltd. operated smoothly as a result of integrating the Production and Studiobusinesses. Although TOHO EIZO BIJUTSU Co., Ltd. and Toho Butai Co., Ltd. saw some signs ofrecovery in relation to stage production and art production for movies, TV and commercials, etc. aswell as production services for display items in theme parks, the situation continued to be difficult. As
a result, operating revenue in the Production and Licensing business was ¥46,667 million (up 55.0%
year on year) and operating profit was ¥11,708 million (up 135.4% year on year).
In the Production and Licensing business department of TOHO CO., LTD., revenue was ¥44,211
million (up 60.2% year on year) before intracompany transfers deduction (¥8,690 million, up 90.8%
year on year). This consists of Home Entertainment business revenue of ¥11,396 million (up 38.4%
year on year), Publishing and Merchandising business revenue of ¥4,789 million (up 8.8% year onyear), Animation Production business revenue of ¥26,154 million (up 103.2% year on year), Liveaction Film Production business revenue of ¥966 million (down 32.9% year on year), Alternative
Content business revenue of ¥572 million (down 10.2% year on year) and other income of ¥331
million (up ¥331 million year on year).
As a result, in the overall Cinema business, operating revenue was ¥144,781 million (up 24.6% year
on year) and operating profit was ¥24,894 million (up 140.5% year on year).

Theatrical businessIn the Theatrical business, the Company suspended performances and ticket sales and refunded tickets
due to the declaration of the states of emergency. Even after lifting of state of emergency,
performances were carried out, while infection prevention measures were implemented. “Endless
Shock -Eternal-,” “MOZART!,” “Les Misérables,” “Crest of the Royal Family,” “DREAM BOYS,”“Knights’ Tale,” “My Fair Lady,” “ABC Za Legend of Johnny’s 2021 at Imperial Theatre,”“JOHNNYS’ Island THE NEW WORLD,” “The Man Who Laughs” and “Spirited Away” were
performed at TOHO CO., LTD.’s Imperial Theatre. “GHOST,” “You’re a Good Man, Charlie Brown,”“CLUB SEVEN ZERO III,” “SHOW BOY,” “Little Shop of Horrors,” “VOICARION XIII - Her
Majesty’s Room -,” “Grease,” “The Glass Menagerie,” “The Little Prince,” “SLAPSTICKS,” “Piaf,”
etc., were performed at Theatre Creation, and other external theatrical works took place throughout
Japan. Furthermore, “Mademoiselle Mozart” was performed at Brillia HALL. As a result, revenue
increased significantly due to an increase in the number of performances year on year. At TohoEntertainment Co., Ltd., affiliated actors worked favorably on commercial performances, etc. As aresult, operating revenue in the Theatrical business was ¥15,157 million (up 90.7% year on year) andoperating profit was ¥2,472 million (operating loss of ¥1,066 million in the previous fiscal year).
In the Theatrical business department of TOHO CO., LTD., revenue was ¥13,011 million (up 109.0%
year on year) before intracompany transfers deduction (¥193 million, up 7.8% year on year). Thisconsists of production and exhibition revenue of ¥10,020 million (up 89.7% year on year), external- 3 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

theatrical work revenue of ¥2,708 million (up 250.8% year on year) and other income of ¥282 million(up 64.9% year on year).
Real Estate business
The Lease of Land and Buildings business continued to be in a difficult situation due to factors suchas changes in the office market and the closure of commercial facilities. The vacancy rate of real estate
for leasing held by the corporate group was 0.3%, but revenue decreased due to factors such as
temporary tenants changing out. Operating revenue in the Lease of Land and Buildings business was¥27,155 million (down 2.7% year on year) and operating profit was ¥11,733 million (down 4.8% year
on year). TOHO CO., LTD. merged Bankatsu tochi kigyo Co., Ltd., one of its subsidiaries, effective
on November 1, 2021.
With regard to unrealized gains on non-current assets of the corporate group, TOHO’s equity of thevaluation difference after considering the tax effect of recognizing the assessed value of non-current
assets in the property tax ledger on January 1, 2021 as market price is approximately ¥346,100 million.
(The disclosure of these unrealized gains is not based on the “Accounting Standard for Disclosuresabout Fair Value of Investment and Rental Property (ASBJ Statement No. 30) Etc.,” but continues tobe carried out voluntarily, separately from this standard from the perspective of enhancing information
disclosure.)
In the Land and Building Leasing department of TOHO CO., LTD., revenue was ¥29,238 million(down 1.2% year on year) before intracompany transfers deduction (¥785 million, down 3.4% year onyear).
In the Road business, amid strong public investment into areas such as infrastructure development due
to aging, Subaru Enterprise Co., Ltd. and its subsidiaries worked to increase new orders and expand
orders for existing projects through proactive sales activities by using design proposals, etc. While thesituation continued to be unpredictable due to rising labor costs and equipment prices, Subaru
Enterprise Co., Ltd. and its subsidiaries maintained stable construction systems to promptly respondto emergency work and strived to improve profits. As a result, operating revenue in the Road businesswas ¥28,977 million (up 5.5% year on year) and operating profit was ¥4,207 million (up 3.9% year onyear).
In the Building Maintenance business, TOHO BUILDING MANAGEMENT Co., Ltd. and Toho
Facilities Co., Ltd. worked to secure new orders and reduce expenses. As a result, operating revenue
was ¥9,699 million (down 0.5% year on year) and operating profit was ¥715 million (up 4.6% year onyear).
As a result of the above, operating revenue in the overall Real Estate business was ¥65,832 million(up 1.1% year on year) and operating profit was ¥16,657 million (down 2.4% year on year).

Other business
The Amusement business and the Restaurant and Sports Facilities business performed favorably due
to the increase of customers at Toho Kyoei Kigyo Co., Ltd.’s Toho Chofu Sports Park. TOHORETAIL CO., LTD.’s restaurants, theater concession stands, etc. closed temporarily and shops closed
due to the continuing difficult situation regarding demand for eating out. As a result, operating revenue
in the Other business was ¥2,596 million (down 3.1% year on year) and operating loss was ¥90 million(operating loss of ¥320 million in the previous fiscal year).

(2) Overview of financial position for the fiscal year under review
With regard to financial position as of the end of the fiscal year under review, total assets increasedby ¥28,727 million from the end of the previous fiscal year to ¥502,532 million. This was mainly due
to increases of ¥5,999 million in short-term loans receivable with resale agreement, ¥13,818 million
in land and ¥8,490 million in investment securities.
Liabilities increased by ¥8,558 million from the end of the previous fiscal year to ¥93,351 million.
This was mainly due to increases of ¥7,493 million in income taxes payable and ¥1,329 million in
accrued expenses despite a decrease of ¥764 million in accounts payable - other.

- 4 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Net assets increased by ¥20,169 million from the end of the previous fiscal year to ¥409,181 million.
This was mainly due to an increase of ¥23,362 million in retained earnings due to the recording of¥29,568 million in profit attributable to owners of parent and ¥6,205 million in dividends of surplus
as well as an increase of ¥4,940 million in treasury shares due to acquisition, etc. by tender offer fortreasury shares.

(3) Overview of cash flows for the fiscal year under review
Cash and cash equivalents (“cash”) on a consolidated basis at the end of the fiscal year under review
increased ¥6,513 million from the end of the previous fiscal year to ¥92,341 million.
(Cash flows from operating activities)
Net cash provided by operating activities increased ¥40,948 million year on year to ¥53,460 million
for the fiscal year under review, mainly due to ¥44,481 million of profit before income taxes, ¥8,951
million of depreciation, ¥2,350 million of increase in accrued consumption taxes and ¥2,355 millionof income taxes refund despite an increase of ¥2,452 million in trade receivables and ¥6,512 millionof income taxes paid.
(Cash flows from investing activities)
Net cash used in investing activities increased ¥8,804 million year on year to ¥36,030 million for the
fiscal year under review, mainly due to ¥65,315 million of purchase of securities, ¥26,942 million ofpurchase of property, plant and equipment and ¥15,830 million of purchase of investment securities,
despite ¥71,700 million of proceeds from sale of securities.
(Cash flows from financing activities)
Net cash used in financing activities decreased ¥4,737 million year on year to ¥12,482 million for the
fiscal year under review, mainly due to ¥5,790 million of purchase of treasury shares and ¥6,208
million of dividends paid.

(4) Future outlook(Forecast for the fiscal year ending February 28, 2023)
The Group is expected to feel the impact of various factors such as the COVID-19 infection situationand the rise in raw material prices due to circumstances in Ukraine and other factors. There areconsiderable uncertainties in future market and consumer trends, which may affect the Group’s
financial position, operating results, and cash flows. Please note that the “Accounting Standard for
Revenue Recognition” (ASBJ Statement No. 29), etc. will be adopted from the beginning of the fiscal
year ending February 28, 2023, and the consolidated earnings forecasts reflect the adoption of theaccounting standard. As such, year-on-year percentage changes are not provided.
In addition, the Company has formulated the “The TOHO VISION 2032 TOHO Group Management
Corporate Strategy,” which was announced on April 12, 2022, to strive for sustainable growth andimprovement of corporate value over the medium- to long-term.
Cinema business
TOHO CO., LTD., Toho-Towa Co., Ltd., etc. will collaboratively produce and distribute the following
popular works. Because of this, the Company expects operating revenue of ¥36,400 million in the
Production and Distribution business.

- 5 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

TOHO CO., LTD.’s collaborative productions/distributed works
Doraemon the movie: Nobita’s Little Star Wars 2021

KAPPEI

Mr,Osomatsu

Detective Conan: The Bride of Halloween

Crayon Shinchan the Movie: The Tornado Legend of
Ninja Mononoke

Radiation House The Movie

SHIN ULTRAMAN

Official Film of the Olympic Games Tokyo 2020: SIDEAThe Hound of the Baskervilles: Sherlock The Movie

Official Film of the Olympic Games Tokyo 2020: SIDE
B

Kingdom2 (Tentative title)

GHOSTBOOK (Tentative title)

Even If This Love Disappears Tonight

Akira and Akira (Tentative title)

A HUNDRED FLOWERS

Silent Parade

The Lines that Define Me (Tentative title)

Suzume no Tojimari (Tentative title)

Fragments of The Last Will

LivingWorks contracted for distribution by Toho-Towa Co., Ltd., etc.
Sing 2

Ambulance

Marry MeTop Gun: Maverick(Towa Pictures Co., Ltd.)The Lost City (Towa Pictures Co., Ltd.)The Black Phone

Minions: The Rise of Gru

Jurassic World: Dominion

Sonic the Hedgehog 2(Towa Pictures Co., Ltd.)The Bad Guys

Note: There is a possibility that changes, such as the postponement of releases, will occur for unreleased works. Pleaseconfirm the most recent information on the Company’s website.

In the Movie Theater Chain business, TOHO Cinemas Co., Ltd. and others are planning to release
popular works, primarily those listed above. The Company expects operating revenue of ¥73,500
million in the Movie Theater Chain business. With regard to changes planned at theaters for the next
fiscal year, “TOHO Cinemas LaLaport Fukuoka” (9 screens) is planned to open in Hakata-ku,
Fukuoka City on April 25, 2022, which will bring the Company to a 9 screen increase throughout
Japan for a total of 721 screens (including 56 collaboratively managed screens).
In the Production and Licensing business, the Company will commence TOHO animation’s 10th
anniversary project and roll out various initiatives, including in the Home Entertainment business andTV animation with a wide lineup such as “JUJUTSU KAISEN,” “My Hero Academia,” “SPY x
FAMILY” and “Teasing Master Takagi-san.” The Publishing and Merchandising business plans tooffer a wide range of souvenir programs and character goods for works distributed by the Company,
such as “Detective Conan: The Bride of Halloween” and “Suzume no Tojimari (Tentative title).”Furthermore, it will work to further increase royalty from merchandising rights, etc. for the “TOHO
Monster Series,” which includes “Godzilla.” TOHO Studios Co., Ltd. will work to secure orders formovie, TV and commercial production, etc. by integrating the Production and Studio businesses.
TOHO EIZO BIJUTSU Co., Ltd. and Toho Butai Co., Ltd. will work on construction management
and cost management while working to obtain new customers in order to secure art production works
for movies and TV, event construction, etc., and actively carry out sales activities. Based on the above,
the Company expects operating revenue of ¥37,100 million in the Production and Licensing business.
As a result, in the overall Cinema business, the Company expects operating revenue of ¥147,000
million.
Theatrical businessIn the Theatrical business, various initiatives will be carried out, such as the first stage performanceand live streaming of “Spirited Away” as a work commemorating the 90th anniversary of TOHO’s- 6 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

founding. The Company is planning to carry out the following performances at TOHO CO., LTD.’s
Imperial Theatre, Theatre Creation and others. Other than this, the Company will expand “Spirited
Away,” “Elisabeth” and other performances as external theatrical works throughout Japan.
Furthermore, Toho Entertainment Co., Ltd. will proactively develop sales activities for affiliatedactors’ activities in commercials, TV, movie, etc. As a result, the Company expects operating revenueof ¥18,000 million in the Theatrical business.
Imperial Theatre(March) Spirited Away

(April - May) Endless Shock -Eternal-(June) Guys and Dolls(July - August) Miss Saigon(October - November) Elisabeth(February) Kingdom
Theatre Creation(March) Piaf

(March - April) Next to Normal(April) VOICARION XIV〜The Spoon〜(May) The 39 Steps(May) My Story, My Song 〜and YOU〜

(June) CROSS ROAD

(July) Only 1, NOT No.1

(August) Q & A(September) Thoroughly Modern Millie(October - November) The Fantasticks
Other theatres(March) La Cage Aux Foilles (Nissay Theatre)*(March - May) Mary Poppins (TOKYU THEATRE
Orb)*(May) Your Lie in April (Nissay Theatre)*(Autumn) Jersey Boys (Nissay Theatre)*(November - December) Sister Act (TOKYU THEATRE
Orb)
Note: Titles with an asterisk are collaboratively produced productions. There is a possibility that changes, such as the
postponement of releases, will occur. Please confirm the most recent information on the Company’s website.

Real Estate business
Under the difficult situation, which includes the decrease of office demand, in the Lease of Land andBuildings business, TOHO CO., LTD.’s Corporate Real Estate department will aim to effectively
utilize real estate held in Japan through corporate proposals for equipment repair and redevelopmentfrom a long-term perspective while improving financial results by striving for comprehensive
responses for and mutual understanding with tenants. As a result, the Company expects operating
revenue of ¥27,900 million in the Lease of Land and Buildings business.
In the Road business, Subaru Enterprise Co., Ltd. and its subsidiaries will work to expand orders bycarrying out proactive sales activities based on thorough cost management. The Company expects
operating revenue of ¥27,700 million in the Road business.
In the Building Maintenance business, TOHO BUILDING MANAGEMENT Co., Ltd. and Toho
Facilities Co., Ltd. will work to reduce expenses and secure new orders under this difficult businessenvironment with ongoing price competition. As a result, the Company expects operating revenue of¥10,300 million in the Building Maintenance business.
Due to the above, in the overall Real Estate business, the Company expects operating revenue of¥65,900 million.
Other business
The Amusement business and the Merchandise Sales business will proactively develop sales measures,etc. for Toho Kyoei Kigyo Co., Ltd.’s Toho Chofu Sports Park. Furthermore, the Retailing and RetailServices business for TOHO RETAIL CO., LTD.’s theater concession stands, etc. will carry out sales
activities taking into consideration profitability, etc.
As a result, the Company expects operating revenue of ¥1,100 million in the Other business.

- 7 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Planned capital expenditures for the next fiscal year include ordinary repair work (repair work within
the scope of depreciation (¥9,000 million budget)), the completion of “Toho Hibiya Promenade
Building,” the opening of “TOHO Cinemas LaLaport Fukuoka” and other work. These capital
expenditures are expected to be made within the budget of ¥20,500 million. However, the Company
will flexibly carry out additional investments for the purchase of new properties and acquisition ofequipment.
As a result, the Company is expected to record operating revenue of ¥232,000 million in the fiscal
year ending February 28, 2023, operating profit of ¥38,000 million, ordinary profit of ¥41,000 million,
and profit attributable to owners of parent of ¥28,500 million.

- 8 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

2.

Basic Policy on Selection of Accounting Standards
The Group has adopted the generally accepted accounting principles in Japan (Japanese GAAP). The
Company will take into consideration the circumstances in Japan and overseas for appropriate
adoption of the International Financial Reporting Standards (IFRS).

- 9 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

3.

Consolidated Financial Statements and Significant Notes Thereto(1) Consolidated balance sheet(Millions of yen)
As of February 28, 2021

As of February 28, 2022

37,53020,345
17,68439,094
8,906
47,99912,508(42)

37,75022,852
16,85240,607
8,417
53,9997,461(74)

184,028

187,866

79,48280,050

5,848
2,556

6,034

Tools, furniture and fixtures, net
Land
Leased assets, net
Construction in progress

61,620112,10675,4388
5,453

Total property, plant and equipment

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Investments in leases
Securities
Inventories
Short-term loans receivable with resale agreement
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net

2,879

151,626

169,865

Intangible assets
Leasehold interests in land
Goodwill
Leased assets
Other

1,191
3,458
9
1,406

1,191
2,745
6
1,443

Total intangible assets

6,066

5,386

Investments and other assets
Investment securities
Long-term loans receivable
Distressed receivables
Deferred tax assets
Retirement benefit asset
Guarantee deposits
Other
Allowance for doubtful accounts

113,400
152
220
2,727
138
13,465
2,284(306)

121,891
133
5
2,379
318
13,027
1,736(78)

Total investments and other assets

132,083

139,413289,776

314,665

473,804

502,532

Total non-current assets
Total assets- 10 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(Millions of yen)
As of February 28, 2021

As of February 28, 2022

18,397
116
15
3,888
2,807
2,258
907

19,305
60
15
3,123
4,136
9,751
972

23

41

181
68
10,807129
9,994

39,47347,531

44
11,762
3,489

29
11,633
3,636

155

140

236
6,858
22,600
172

236
6,994
22,991
157

Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for PCB disposal
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax liabilities
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for PCB disposal
Asset retirement obligations
Long-term guarantee deposits
Other45,31945,819Total liabilities

Total non-current liabilities

84,79293,351

Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

10,355
14,087357,068(23,771)

10,355
14,122
380,430(28,712)357,740

376,197

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

19,290800(952)(1,059)19,854800(121)(1,008)

Total accumulated other comprehensive income

18,07919,525

Total shareholders’ equity

Non-controlling interests

13,191

13,458

Total net assets

389,011409,181473,804

502,532

Total liabilities and net assets- 11 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income(Millions of yen)
Fiscal year ended February
28, 2021

Fiscal year ended February
28, 2022

191,948
123,485
68,462

228,367
133,527
94,84018,239
2,168
654
931

20,014
5,408
706
944

20

26

3,404
6,665
13,92946,01422,4473,521
7,652
16,61754,891
39,948

84
1,524

56
1,479

168

243

229
2,007

858
273
2,911

33
179
47
260
24,19524
22
22
69
42,790

684
626
380
952
2,643

5
–
3,869
3,875

654
–

425
1,186

153

-

81
2,211
3,100
23,738
8,082
(345)
7,737
16,001
1,312
14,688

23
548
2,184
44,481
13,489(46)
13,44331,0381,470
29,568Operating revenue
Operating costs
Gross profit
Selling, general and administrative expenses
Personnel expenses
Advertising expenses
Provision for bonuses
Retirement benefit expenses
Provision for retirement benefits for directors (and otherofficers)
Depreciation
Rent expenses on land and buildings
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission for purchase of treasury shares
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Received settlement fee
Subsidy income
Total extraordinary income
Extraordinary losses
Impairment losses
Demolition cost of fixed asset
Loss on tax purpose reduction entry of non-current
assetsLoss on valuation of investment securities
Loss caused by temporary closures
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent- 12 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Consolidated statement of comprehensive income(Millions of yen)
Fiscal year ended February
28, 2021

Fiscal year ended February
28, 2022

16,001

31,038

2,448
(695)
191

572
830
51

(15)

(5)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests- 13 -

1,929

1,449

17,93032,487

16,63831,014

1,292

1,473

TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(3) Consolidated statement of changes in equity
Fiscal year ended February 28, 2021
(Millions of yen)
Shareholders’ equity

Balance at beginning of
periodShare capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity10,355

14,087352,171(16,902)359,711

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares(9,863)(9,863)

14,688

14,688(6,868)72

Increase by merger
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Change in treasury sharesarising from change inequity in entities
accounted for using
equity method
Net changes in items
other than shareholders’equity

72

0

0

(0)

(0)

–
–

0

4,896

(6,868)(1,971)

10,355

14,087357,068(23,771)357,740

Total changes during period
Balance at end of period(6,868)

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities
Balance at beginning of
period16,837

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated
othercomprehensi
ve income

800

(257)

(1,250)16,129Noncontrollinginterests
12,370Total net
assets388,212

Changes during period
Dividends of surplus–(9,863)

Profit attributable toowners of parent
Purchase of treasury
shares–

14,688–(6,868)

–

72

–

0

–

(0)

Increase by merger
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Change in treasury
shares arising fromchange in equity inentities accounted forusing equity method
Net changes in items
other than shareholders’equity

2,453

–

(695)

191

1,949

820

2,770

Total changes during period

2,453

–

(695)

191

1,949

820

799

Balance at end of period

19,290800(952)(1,059)18,07913,191

389,011- 14 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Fiscal year ended February 28, 2022
(Millions of yen)
Shareholders’ equity

Balance at beginning of
periodShare capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity10,355

14,087357,068(23,771)357,740

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Change in treasury sharesarising from change inequity in entities
accounted for using
equity method(6,205)(6,205)29,56829,56814(5,760)(5,760)

819

833

20

20

(0)

(0)

Net changes in items
other than shareholders’equity––34

23,362(4,940)18,456

10,355

14,122

380,430(28,712)376,197

Total changes during period
Balance at end of period

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities
Balance at beginning of
period19,290

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated
othercomprehensi
ve income

800

(952)

(1,059)18,079Noncontrollinginterests
13,191

Total net
assets389,011

Changes during period
Dividends of surplus–(6,205)

Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Change in treasury
shares arising fromchange in equity inentities accounted forusing equity method–

29,568–(5,760)

–

833

–

20

–

(0)

Net changes in items
other than shareholders’equity

563

–

830

51

1,445

267

1,713

Total changes during period

563

–

830

51

1,445

267

20,16919,854800(121)(1,008)19,525

13,458409,181

Balance at end of period- 15 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended February
28, 2021

Fiscal year ended February
28, 2022

23,738
8,797
654
(133)
59
(252)
203
(1,609)33

44,481
8,951
425
(196)
(52)
102
(62)
(1,536)
24

(168)

(243)

(687)
48

(6)
216

Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in guarantee deposits
Increase (decrease) in accrued consumption taxes
Increase (decrease) in guarantee deposits received
Other

(626)
81
4,771
1,439
(2,679)48(3,181)
(668)
(544)

23
(2,452)
575
891
459
2,350
341
1,666

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for PCB disposal
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of non-current assets
Loss on retirement of non-current assets

Subtotal

29,32455,958Interest and dividends received
Interest paid
Income taxes paid
Income taxes refund

2,097
(32)
(18,902)
25

1,707
(49)
(6,512)
2,355

Net cash provided by (used in) operating activities

12,512

53,460(41,395)
52,100(9,517)784(26,993)921(65,315)
71,700(26,942)175(15,830)
295

–

(92)

(5)
64
(2,600)
–
–
12
(596)

(91)
68
(2,600)
3,400
(0)
2
(797)

(27,226)(36,030)

Cash flows from investing activities
Purchase of securities
Proceeds from sale of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Loan advances
Proceeds from collection of loans receivable
Investments in money held in trust
Proceeds from cancellation of money held in trust
Payments into time deposits
Proceeds from withdrawal of time deposits
Other
Net cash provided by (used in) investing activities- 16 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(Millions of yen)
Fiscal year ended February
28, 2021

Fiscal year ended February
28, 2022

(1)

(55)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Repayments of lease obligations
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents

15

-

(15)
(6,872)(9,860)(464)(5,790)(6,208)
(406)

(6)

(4)

(15)

(15)

(17,220)(12,482)

(683)

1,566

Net increase (decrease) in cash and cash equivalents(32,618)

6,513

Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from merger
with unconsolidated subsidiaries

118,445

85,8270-Cash and cash equivalents at end of period

85,827

92,341- 17 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(5) Notes to consolidated financial statements(Notes on going concern assumption)
Not applicable.

(Segment information)[Segment information]
1. Description of reportable segments
The reportable segments of the Group are those units for which separate financial information isavailable, and which are regularly examined by the Board of Directors concerning decisions on
the allocation of management resources and for assessing business performance.
The Group is comprised of segments based on products and services, with the three reportablesegments of the “Cinema business,” the “Theatrical business” and the “Real Estate business.”
The “Cinema business” is engaged in the production, distribution and screening of movies as wellas the production and sales of video software, TV programs, commercial films, etc. The“Theatrical business” is engaged in the production, exhibition and sales of theatrical works andthe talent agency business. The “Real Estate business” is engaged in the leasing, maintenance andmanagement of real estate, maintenance, cleaning and repair work of roads, and contract
management services for highway facilities.
2. Calculation methods for net sales, profit (loss), assets, liabilities and other items by reportablesegment
The accounting methods for the business segments reported are generally the same as those adopted in
preparing consolidated financial statements. Profit by reportable segment is based on operating profit.
Intersegment sales and transfers are based on prevailing market prices.

- 18 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

3. Disclosure of net sales, profit (loss), assets, liabilities and other items by reportable segment
Fiscal year ended February 28, 2021 (March 1, 2020 to February 28, 2021)
Reportable segments

Net sales
Sales to externalcustomers
Intersegment sales
or transfers
Total

Other
(Note 1)

Total

(Millions of yen)Amounts on
consolidated
Adjustments
financial(Note 2)statements(Note 3)Cinemabusiness

Theatricalbusiness

Real Estatebusiness

116,197

7,948

65,124

189,270

2,678

191,948-

191,948

1,652

19

4,529

6,200

42

6,242

(6,242)-

Total

117,849

7,968

69,653

195,470

2,720

198,191(6,242)

191,948

Segment profit(loss)

10,351(1,066)

17,062

26,347(320)

26,026(3,579)22,447

Segment assets

82,066

8,123

191,857

282,047769

282,816

190,987

473,804

Other items
Depreciation
Impairment losses

3,014

197

5,320

8,531

69

8,601

196

8,797

93

-

324

418

236

654

-

654

471

-

241

712

-

712

-

712

942

-

2,515

3,458

-

3,458

-

3,458

3,535

38

6,322

9,896

45

9,942

154

10,097

Amortization of
goodwill
Balance of
unamortized
goodwill
Increase inproperty, plantand equipment
and intangible
assets(Notes) 1. The “Other” category is a business segment that is not included in the reportable segments and includes businesses
that operate restaurants and sports facilities.
2. The ¥3,579 million deducted from segment profit (loss) as adjustment consists of an addition of ¥1 million inintersegment transaction elimination, and a deduction of ¥3,580 million in corporate expenses that cannot beallocated to any reportable segment. Corporate expenses mainly consist of general and administrative expenses thatare not attributable to reportable segments.
The ¥190,987 million added to segment assets as adjustment consists of a deduction of ¥16,859 million inintersegment transaction elimination, and an addition of ¥207,846 million in corporate assets that cannot be allocatedto any reportable segment. The main items of corporate assets are the Company’s surplus funds (cash and deposits,
securities and short-term loans receivable with resale agreement) as well as long-term investment funds (investment
securities).
3. Segment profit (loss) is adjusted with operating profit stated in the consolidated statement of income.

- 19 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

Fiscal year ended February 28, 2022 (March 1, 2021 to February 28, 2022)
Reportable segments
Other(Note 1)

Total

(Millions of yen)Amounts on
consolidated
Adjustments
financial(Note 2)statements(Note 3)Cinemabusiness

Theatricalbusiness

Real Estatebusiness

144,781

15,157

65,832

225,771

2,596

228,367-

228,367

2,444

26

5,176

7,647

49

7,696

(7,696)-147,225

15,18471,008233,418

2,645

236,064(7,696)228,367

Segment profit(loss)

24,894

2,472

16,65744,023(90)

43,932(3,984)39,948Segment assets

81,067

8,371

210,336

299,776718

300,494

202,037

502,532

Other items
Depreciation
Impairment losses

3,172

179

5,392

8,744

38

8,783

167

8,951

366

-

49

416

9

425

-

425

471

-

395

866

-

866

-

866

471

-

2,273

2,745

-

2,745

-

2,745

4,408

47

23,53527,991

11

28,002250

28,252

Net sales
Sales to externalcustomers
Intersegment sales
or transfers
Total

Amortization of
goodwill
Balance of
unamortized
goodwill
Increase inproperty, plantand equipment
and intangible
assets

Total(Notes) 1. The “Other” category is a business segment that is not included in the reportable segments and includes businesses
that operate restaurants and sports facilities.
2. The ¥3,984 million deducted from segment profit (loss) as adjustment consists of an addition of ¥3 million inintersegment transaction elimination, and a deduction of ¥3,987 million in corporate expenses that cannot beallocated to any reportable segment. Corporate expenses mainly consist of general and administrative expenses thatare not attributable to reportable segments.
The ¥202,037 million added to segment assets as adjustment consists of a deduction of ¥17,408 million inintersegment transaction elimination, and an addition of ¥219,445 million in corporate assets that cannot be allocatedto any reportable segment. The main items of corporate assets are the Company’s surplus funds (cash and deposits,
securities and short-term loans receivable with resale agreement) as well as long-term investment funds (investment
securities).
3. Segment profit (loss) is adjusted with operating profit stated in the consolidated statement of income.

- 20 -TOHO CO., LTD. (9602)
Consolidated financial results for the fiscal year ended February 28, 2022

(Per share information)(Yen)
As of February 28, 2021

As of February 28, 2022

Fiscal year ended February 28, 2021

Fiscal year ended February 28, 2022

Net assets per share

2,241.23

2,115.44(Yen)

Basic earnings per share

167.24

82.54(Notes) 1. Diluted earnings per share is not presented because there are no dilutive shares.
2. The basis for calculation of basic earnings per share is as follows:
Fiscal year ended February 28, 2021
Profit attributable to owners of parent(millions of yen)
Main components of amount not
attributable to common shareholders(millions of yen)

Fiscal year ended February 28, 2022

14,68829,568--

Profit attributable to owners of parent
related to common stock (millions ofyen)

14,68829,568Average number of shares ofcommon stock during period (shares)

177,951,279

176,797,902

3. The basis for calculation of net assets per share is as follows:
As of February 28, 2021

As of February 28, 2022

Total net assets (millions of yen)

389,011409,181

Amount to be deducted from total net
assets (millions of yen)

13,191

13,458(of which, non-controlling interests(millions of yen))

13,191

13,458375,820395,722

177,656,028

176,565,041

Net assets related to common stock at
end of period (millions of yen)
Number of shares of common stockat end of period used in thecalculation of net assets per share(shares)(Significant subsequent events)
Not applicable.

- 21 -