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, 2019
(Based on Japanese GAAP)
April 26, 2019
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 25, 2019

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

June 26, 2019–

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, 2019 (from April 1, 2018 to March 31, 2019)(1) Non-consolidated operating results

Percentages indicate year-on-year changes
Net salesYear ended March 31, 2019Year ended March 31, 2018

Millions of yen
3,394
3,306

Operating profit
%
2.7
2.5

Millions of yen
713
649

Diluted earnings pershare
Yen
Yen
69.20
68.33
66.04
65.06

Earnings per share
Year ended March 31, 2019Year ended March 31, 2018

Ordinary profit
%
9.9
6.8

Millions of yen
699
651

Profit%7.2
5.7

Millions of yen
441
420%
5.0
6.6

Ordinary profit/total Operating profit/net
assetssales%%%
17.6
20.1
21.0
20.3
26.5
19.6

Profit/equity(2) Non-consolidated financial position
Total assets
As of March 31, 2019
As of March 31, 2018

Net assets

Equity ratio

Millions of yen
4,279
2,677

Millions of yen
2,734
2,282

Cash flows fromoperating activities
Millions of yen
299
423

Cash flows frominvesting activities
Millions of yen(1,614)(10)

Net assets per share%
63.7
85.2

Yen
426.85358.03(3) Non-consolidated cash flows

Year ended March 31, 2019Year ended March 31, 2018

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
1,136
1,95002,128

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

Year ended March 31, 2018Year ended March 31, 2019Year ending March 31, 2020
(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

–

3.00

3.00

13.8

3. Forecast of non-consolidated financial results for the year ending March 31, 2020 (from April 1, 2019 to March 31, 2020)
Percentages indicate year-on-year changes
Net sales
Millions of yen
Six months ending
September 30, 2019
Full year

Operating profit% Millions of yen

Ordinary profit

ProfitEarnings per share% Millions of yen% Millions of yen

%

Yen

1,874

12.0

360

4.4

358

3.9

229

4.4

35.97

4,802

41.5

934

31.0

783

12.0

501

13.5

78.52

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:

YesNo

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, 2019

6,384,000 shares As of March 31, 2018

6,373,500 shares– shares As of March 31, 2018

– shares

Number of treasury shares at the end of the period
As of March 31, 2019
Average number of shares during the period
Year ended March 31, 2019

6,382,631 shares Year ended March 31, 2018

2

6,370,862 sharesNon-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2018

As of March 31, 2019

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

2,128,168
197,762

1,950,093
248,512MerchandiseWork in process

225,227373

282,497
3,342

Supplies
Prepaid expenses

81
25,777299
28,450166(93)

69,978(74)

2,577,463

2,583,100

16,248(10,623)

16,248(11,300)

5,624

4,94712,931(9,620)17,487(11,853)

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

3,311

5,633

Land
Construction in progress

Tools, furniture and fixtures, net–
17,100516,725
1,100,216

Total property, plant and equipment

26,035

1,627,523

Intangible assets
Trademark right

2,337

2,013

Software

4,481

2,782

Total intangible assets

6,818

4,796

Leasehold deposits
Guarantee deposits

30,814
14,661

31,078
6,604

Deferred tax assets

21,361

26,365

Total investments and other assets

66,83664,04899,6901,696,368

2,677,153

4,279,469

Investments and other assets

Total non-current assets
Total assets3

(Thousands of yen)
As of March 31, 2018

As of March 31, 2019

Liabilities
Current liabilities
Accounts payable - trade104,942

105,199

Short-term loans payable
Accounts payable - other–
81,304

1,150,000
73,183

Accrued expenses
Income taxes payable

20,711
130,441

22,574
154,195

Advances receivedDeposits received

2,325
9,812

–
10,648Provision for bonuses
Other23,212
16,924

23,833–

Total current liabilities

389,673

1,539,634

Non-current liabilities
Asset retirement obligations

5,450

5,458

Total non-current liabilities

5,450

5,458

395,124

1,545,092

274,236

274,939

Capital surplus
Legal capital surplus

224,236

224,939

Total capital surpluses

224,236

224,939

Total liabilities
Net assets
Shareholders' equity
Capital stock

Retained earnings
Other retained earnings
1,783,460

2,225,154

Total retained earnings

Retained earnings brought forward

1,783,460

2,225,154

Total shareholders' equity

2,281,932

2,725,033

97

9,343

2,282,029

2,734,376

2,677,153

4,279,469

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, 2018

March 31, 2019

3,306,281

3,394,826

Beginning goods
Cost of purchased goods

222,820
1,371,578

225,227
1,414,128

Total

1,594,398

1,639,355

9,515
225,227

13,142
282,497

1,359,655

1,343,716

1,946,626

2,051,110

Freightage expenses
Advertising expenses

327,107
144,810353,289
132,826

Storage expenses
Provision of allowance for doubtful accounts

170,537
16

162,444
29

Remuneration for directors (and other officers)
Salaries and allowances

96,584225,41395,958
231,552

Provision for bonuses
Rents

23,27742,89923,83344,247

Depreciation
Commission expenses

6,281
90,252

4,931
91,881

Other

170,020

196,631

1,297,201

1,337,625

649,425

713,485

Interest income
Commission income

58
2,214

37720Miscellaneous income

292

366

2,565

1,123

Interest expenses
Commission expenses––

171
15,000Miscellaneous loss

0400

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

Total non-operating income
Non-operating expenses

015,571

Ordinary profit

Total non-operating expenses

651,990699,038

Profit before income taxes

651,990699,038

Income taxes - current
Income taxes - deferred

232,789(1,502)

262,348(5,004)

Total income taxes

231,287

257,343

Profit420,703441,6945Non-consolidated statements of changes in equity
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'equity

1,860,826

ShareacquisitionrightsTotal net
assets–1,860,826Changes 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

Fiscal year ended March 31, 2019
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings

Capital stock Legal capital Total capitalsurplussurplus

Balance at beginning of current period

274,236

224,236

224,236

703

703

703

Other
retainedearnings
Retainedearnings
brought
forward1,783,460

Total
retainedearnings

1,783,460

Total
shareholders'equity

2,281,932

ShareacquisitionrightsTotal net
assets97

2,282,029

Changes of items during period
Issuance of new shares - exercise ofshare acquisition rights
Profit441,694

441,694

1,407

1,407

441,694

441,694

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period9,245

9,245

703

703

703

441,694

441,694

443,101

9,245

452,347

274,939

224,939

224,9392,225,154

2,225,154

2,725,033

9,343

2,734,376

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, 2018

March 31, 2019651,990699,038

Depreciation
Increase (decrease) in allowance for doubtful accounts

6,281
(43)

4,931
(18)

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

5,209
(58)

621(37)––171
15,000Share-based compensation expenses
Decrease (increase) in notes and accounts receivable - trade61(6,191)

9,245(50,750)

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade(2,216)
1,180(60,456)256

Decrease/increase in consumption taxes receivable/payable
Decrease (increase) in guarantee deposits(23,006)–(85,074)
8,072

Other, net

24,889(1,472)

Subtotal

658,096

539,527

19

21

Interest expenses paid
Income taxes paid–(234,481)(310)(239,249)

Net cash provided by (used in) operating activities

423,633

299,988(10,147)(1,614,206)

Purchase of intangible assets
Payments for leasehold and guarantee deposits

(256)
––
(264)

Net cash provided by (used in) investing activities(10,404)(1,614,470)Interest expenses
Commission expenses

Interest and dividend income received

Cash flows from investing activities
Purchase of property, plant and equipment

Cash flows from financing activities
Increase in short-term loans payable–

1,135,000

Proceeds from exercise of share options
Proceeds from issuance of share acquisition rights

402
36

1,407
–

Net cash provided by (used in) financing activities

438

1,136,407

Net increase (decrease) in cash and cash equivalents

413,667(178,074)

Cash and cash equivalents at beginning of period

1,714,500

2,128,168

Cash and cash equivalents at end of period

2,128,168

1,950,093

7