Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Year Ended March 31, 2018
(Based on Japanese GAAP)
April 27, 2018
Company name:

Fundely Co.,Ltd.

Stock exchange listing: Tokyo
Stock code:
3137
Representative:
Inquiries:

URL

http://www.fundely.co.jp/

President, Founder
Executive Officer, Department Manager ofAccounting
Scheduled date of ordinary general meeting of shareholders:

Kosuke Abe
Masaharu Sugita

TEL03-6741-5880

June 26, 2018

Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

June 27, 2018–

Preparation of supplementary material on financial results:
Holding of financial results meeting:

YesYes(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the year ended March 31, 2018 (from April 1, 2017 to March 31, 2018)(1) Non-consolidated operating results

Percentages indicate year-on-year changes
Net salesYear ended March 31, 2018Year ended March 31, 2017

Millions of yen
3,306
3,227

Operating profit
%
2.5
7.0

Millions of yen
649
608

Diluted earnings pershare
Yen
Yen
66.04
65.06
62.02
61.09

Earnings per share
Year ended March 31, 2018Year ended March 31, 2017

Ordinary profit
%
6.8
21.4

Millions of yen
651
616

Profit%5.7
23.2

Millions of yen
420
394

%
6.6
26.2

Ordinary profit/total Operating profit/net
assetssales%%%
20.3
26.5
19.6
23.8
30.1
18.8

Profit/equity(2) Non-consolidated financial position
Total assets
As of March 31, 2018
As of March 31, 2017

Net assets

Equity ratio

Millions of yen
2,677
2,240

Millions of yen
2,282
1,860

Cash flows fromoperating activities
Millions of yen
423
402

Cash flows frominvesting activities
Millions of yen
(10)
(11)

Net assets per share%
85.2
83.0

Yen
358.03292.10(3) Non-consolidated cash flows

Year ended March 31, 2018Year ended March 31, 2017

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen02,128
61,714

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2017
Year ended March 31, 2018Year ending March 31, 2019
(Forecast)

Dividend payout Ratio of dividends
Total cashratio
to net assets
dividends (Total) (Non-consolidated)(Non-consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

–
–

0.00
0.00

–
–

0.00
0.00

0.00
0.00

––––––

–

0.00

–

0.00

0.00

1–3. Forecast of non-consolidated financial results for the year ending March 31, 2019 (from April 1, 2018 to March 31, 2019)
Percentages indicate year-on-year changes
Net sales
Millions of yen
Six months ending
September 30, 2018
Full year

Operating profit

Ordinary profit

ProfitEarnings per share% Millions of yen% Millions of yen% Millions of yen

%

Yen

1,749

6.1

322(2.9)318(3.9)204(2.9)

32.02

3,650

10.4

705

8.6

696

6.8

445

6.0

69.93

4. Notes(1) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:No
Yes

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(2) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2018

6,373,500 shares As of March 31, 2017

6,370,500 shares– shares As of March 31, 2017

– shares

Number of treasury shares at the end of the period
As of March 31, 2018
Average number of shares during the period
Year ended March 31, 2018

6,370,862 shares Year ended March 31, 2017

2

6,362,929 sharesNon-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2017

As of March 31, 2018

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

1,714,500
6,004

2,128,168–

185,565
222,820

197,762
225,227

Work in process
Supplies

42602

373
81

Prepaid expenses
Deferred tax assets

26,961
18,84425,777
17,70861(137)

166(93)

2,175,266

2,595,172

16,248(9,132)

16,248(10,623)

Accounts receivable - trade
Merchandise

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Construction in progress

7,115

5,624

10,094(7,401)

12,931(9,620)

2,693

3,311

–

17,1009,808

26,035Trademark right
Software

2,642
6,622

2,337
4,481

Total intangible assets

9,265

6,818

Investments and other assets
Lease deposits

30,81430,814

Guarantee deposits
Deferred tax assets

14,621
1,014

14,661
3,652

Total investments and other assets

46,45049,12765,524

81,9812,240,791

2,677,153

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets3

(Thousands of yen)
As of March 31, 2017

As of March 31, 2018

Liabilities
Current liabilities
Accounts payable - trade103,762

104,942

Accounts payable - otherAccrued expenses

55,671
14,52381,304
20,711

Income taxes payable
Advances received

134,756
2,200

130,441
2,325Deposits received
Provision for bonuses

5,694
18,002

9,812
23,212

Other

39,93016,924

Total current liabilities

374,541

389,673

5,424

5,450

Non-current liabilities
Asset retirement obligations
Total non-current liabilities

5,424

5,450

379,965

395,124

274,035

274,236

Legal capital surplus

224,035

224,236

Total capital surpluses

224,035

224,236

Other retained earnings
Retained earnings brought forward

1,362,756

1,783,460

Total retained earnings

1,362,756

1,783,460

Total shareholders' equity

1,860,826

2,281,932–

97

1,860,826

2,282,029

2,240,791

2,677,153

Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus

Retained earnings

Share acquisition rights
Total net assets
Total liabilities and net assets

4Non-consolidated statements of income(Thousands of yen)

Net sales
Cost of sales

Fiscal year ended

Fiscal year ended

March 31, 2017

March 31, 2018

3,227,160

3,306,281

Beginning goods
Cost of purchased goods

249,428
1,356,375

222,820
1,371,578

Total

1,605,803

1,594,398

18,225
222,820

9,515
225,2271,364,758

1,359,655

1,862,402

1,946,626

Freightage expenses
Advertising expenses

306,573
182,221327,107
144,810

Storage expenses
Provision of allowance for doubtful accounts

175,40340

170,537
16

Directors' compensations
Salaries and allowances

93,678
186,461

96,584225,413

Provision for bonuses
Rents

18,002
42,372

23,27742,899Depreciation
Commission fee

7,471
96,6506,281
90,252Other

145,402

170,020

1,254,278

1,297,201

608,124

649,425

22660

58
2,214

Compensation income
Insurance premiums refunded cancellation

1,889
1,218

––

Receipt return
Miscellaneous income

4,500
199–
292

Total non-operating income

8,490

2,565–

0–0616,614

651,990

Loss on retirement of non-current assets

1,516–

Total extraordinary losses

1,516–

Profit before income taxes

615,098

651,990

Income taxes - current

219,939

232,789

Transfer to other accountEnding goods
Cost of goods sold
Gross profit
Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Commission fee

Non-operating expenses
Miscellaneous loss
Total non-operating expenses
Ordinary profit
Extraordinary losses

Income taxes - deferred547(1,502)

Total income taxes

220,487

231,287

Profit394,610420,7035

Non-consolidated statements of changes in equity
Fiscal year ended March 31, 2017
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings

Capital stock Legal capital Total capitalsurplussurplus

Balance at beginning of current period

271,020

221,020

221,020

3,015

3,015

3,015

Other
retainedearnings
Retainedearnings
brought
forward968,145

Total
retainedearnings

968,145Total
shareholders'equity1,460,185

ShareacquisitionrightsTotal netassets–

1,460,185

Changes of items during period
Issuance of new shares - exercise ofshare acquisition rights
Profit394,610394,610

6,030

6,030

394,610394,610

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

–

–

3,015

3,015

3,015

394,610394,610400,640–

400,640

274,035

224,035

224,035

1,362,756

1,362,756

1,860,826–

1,860,826

Fiscal year ended March 31, 2018
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings

Capital stock Legal capital Total capitalsurplussurplus

Balance at beginning of current period

274,035

224,035

224,035

201

201

201

Other
retainedearnings
Retainedearnings
brought
forward1,362,756

Total
retainedearnings

1,362,756

Total
shareholders'equity1,860,826

ShareacquisitionrightsTotal net
assets–1,860,826

Changes of items during period
Issuance of new shares - exercise ofshare acquisition rights
Profit420,703420,703

402

402

420,703420,703

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

97

97

201

201

201

420,703420,703421,10597421,203274,236

224,236

224,236

1,783,460

1,783,460

2,281,932

97

2,282,029

6

Non-consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2017

March 31, 2018

615,098

651,990

Depreciation
Increase (decrease) in allowance for doubtful accounts

7,471
(10)

6,281
(43)

Increase (decrease) in provision for bonuses
Interest and dividend income(246)
(22)

5,209
(58)

Loss on retirement of non-current assets
Decrease (increase) in notes and accounts receivable - trade

1,516(26,076)–(6,191)

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade27,314(10,712)(2,216)
1,180

Increase (decrease) in accrued consumption taxes
Other, net

36,365(45,537)(23,006)
24,951

Subtotal

605,160

658,096

Interest and dividend income received
Income taxes paid

17(202,925)

19(234,481)

Net cash provided by (used in) operating activities

402,253423,633

Cash flows from investing activities
Purchase of property, plant and equipment(3,708)(10,147)

Payments for retirement of property, plant and equipment
Purchase of intangible assets(600)(5,766)–(256)

Payments for lease and guarantee deposits
Other, net(3,000)1,427––

Net cash provided by (used in) investing activities(11,647)(10,404)

6,030

402

–

36

Cash flows from financing activities
Proceeds from exercise of share options
Proceeds from issuance of share acquisition rights6,030

438

Net increase (decrease) in cash and cash equivalents

Net cash provided by (used in) financing activities

396,635

413,667

Cash and cash equivalents at beginning of period

1,317,865

1,714,500

Cash and cash equivalents at end of period

1,714,500

2,128,1687