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 Six Months Ended September 30, 2017
(Based on Japanese GAAP)
October 31, 2017
Company name:
Fundely Co.,Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

3137
URL http://www.fundely.co.jp/
President, Founder
Kosuke Abe

Inquiries:

Executive Officer, Department Manager of
Accounting

Masaharu Sugita

TEL

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

November 13, 2017–

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

Yes
Yes

03-6741-5880(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Non-consolidated financial results for the six months ended September 30, 2017 (from April 1, 2017 to September 30, 2017)(1) Non-consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Net sales
Six months ended September 30, 2017
Six months ended September 30, 2016

Millions of yen
1,649
1,554

Operating profit% Millions of yen
6.1
331
19.0
247

Earnings per share

Ordinary profit% Millions of yen
34.2
331
38.9
254

%
31.0
37.9

Diluted earnings per share

Yen
32.97
25.23

Six months ended September 30, 2017
Six months ended September 30, 2016

Profit% Millions of yen
30.4
210
46.6
160

Yen
32.48
24.84

(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
2,466
2,240

As of September 30, 2017
As of March 31, 2017

Equity ratio

Millions of yen
2,070
1,860

%
84.0
83.0

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
–
–

Yen
0.00
0.00

Yen
–

Yen
0.00

Yen
0.00

–

0.00

0.00

Year ending March 31, 2018 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending March 31, 2018 (from April 1, 2017 to March 31, 2018)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
3,640

Operating profit% Millions of yen
12.8
681

Ordinary profit% Millions of yen
12.1
680

1

Profit% Millions of yen
10.3
436

Earnings per share
%
10.6

Yen
68.54

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: Yes(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
No
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

Yes
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2017

6,370,500 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 September 30, 2017

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2017

6,370,500 shares Six months ended September 30, 2016

2

6,356,947 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2017

As of September 30, 2017

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
MerchandiseWork in process
Supplies
Other
Allowance for doubtful accounts
Total current assets

1,714,500
6,004

1,855,709
4,935

185,565
222,820

213,781
237,677

42
602

2,136
509

45,867(137)

86,680(109)

2,175,266

2,401,321

Non-current assets
Property, plant and equipment

9,808

10,931Intangible assets
Investments and other assets

9,265
46,4507,923
46,450Total non-current assets

65,52465,3052,240,791

2,466,626

Total assets
Liabilities
Current liabilities
Accounts payable - trade103,762

93,635

Income taxes payable
Provision for bonuses

134,756
18,002130,038
21,552

Other

118,019

145,078

Total current liabilities

374,541

390,304

Asset retirement obligations

5,424

5,437

Total non-current liabilities

5,424

5,437

379,965

395,742

Shareholders' equity
Capital stock

274,035

274,035

Capital surplus
Retained earnings

224,035
1,362,756

224,035
1,572,814

Total shareholders' equity

1,860,826

2,070,884

1,860,826

2,070,884

2,240,791

2,466,626

Non-current liabilities

Total liabilities
Net assets

Total net assets
Total liabilities and net assets

3Non-consolidated statements of income (cumulative)(Thousands of yen)Six months ended

Six months ended

September 30, 2016

September 30, 2017

Net sales
Cost of sales

1,554,721
670,731

1,649,113
681,685

Gross profit

883,990

967,428

Selling, general and administrative expenses
Freightage expenses

151,312

156,786

Provision for bonuses
Other

16,916
468,712

21,617457,450

Total selling, general and administrative expenses

636,942

635,855

247,048

331,573

Commission fee
Compensation income

213
1,515

285
–

Insurance premiums refunded cancellation
Receipt return

1,218
4,500

–
–

31

39

7,478

324

Miscellaneous loss–

0

Total non-operating expenses–

0254,526

331,897

Loss on retirement of non-current assets

1,516

–

Total extraordinary losses

1,516

–

Profit before income taxes

253,010331,897

Income taxes

92,627

121,839

Profit160,383

210,057

Operating profit
Non-operating income

Other
Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary losses

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

Cash flows from operating activities
Profit before income taxes

Six months ended

Six months ended

September 30, 2016

September 30, 2017

253,010331,897

Depreciation
Loss on retirement of non-current assets

3,721
1,516

3,180
–

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses(66)(1,332)

(27)
3,550

Interest and dividend income
Decrease (increase) in notes and accounts receivable - trade(11)
42,860(9)(27,146)

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade

24,502(20,414)(16,858)(10,127)

Other, net(1,702)(15,787)

Subtotal

302,083

268,672

Interest and dividend income received

99Income taxes paid

(107,496)(124,510)

Net cash provided by (used in) operating activities

194,596

144,170

Purchase of property, plant and equipment
Payments for retirement of property, plant and equipment(2,650)(600)(2,837)–Purchase of intangible assets
Payments for lease and guarantee deposits(5,297)(3,000)(124)–

Other, net

1,427

–

(10,120)(2,961)

Proceeds from exercise of share options

5,708

–

Net cash provided by (used in) financing activities

5,708

–

Cash flows from investing activities

Net cash provided by (used in) investing activities
Cash flows from financing activities

Net increase (decrease) in cash and cash equivalents

190,185

141,209

Cash and cash equivalents at beginning of period

1,317,865

1,714,500

Cash and cash equivalents at end of period

1,508,050

1,855,709

5