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 Three Months Ended July 31, 2018
(Based on Japanese GAAP)
September 11, 2018
Company name:
HEROZ, Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

4382
URL https://www.heroz.co.jp
Representative Director and CEO
Takahiro Hayashi

Inquiries:

Director and CFO

Daisuke AsaharaTEL

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

September 11, 2018–

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:No

03(6435)2495(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the three months ended July 31, 2018 (from May 1, 2018 to July 31, 2018)(1) Non-consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Net sales

EBITDA※

Millions of yen%Three months ended July 31, 2018
296–
Three months ended July 31, 2017––
※EBITDA = Operating profit + Depreciation + Amortization

Millions of yen

108–Earnings per share

Operating profit%––

Millions of yen

104–

Millions of yen

104–%––Profit
Millions of yen

71
–%
––

Diluted earnings per share

Yen
21.46
–

Three months ended July 31, 2018
Three months ended July 31, 2017%––

Ordinary profit

Yen
19.94
–(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
1,797
1,748

As of July 31, 2018
As of April 30, 2018

Equity ratio

Millions of yen
1,684
1,504%
93.7
86.1

2. Cash dividends
Annual dividends per share

Year ended April 30, 2018Year ending April 30, 2019

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
0.00

Yen
0.00

0.00

–

0.00

0.00

Year ending April 30, 2019 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending April 30, 2019 (from May 1, 2018 to April 30, 2019)
Percentages indicate year-on-year changes
Net sales

Full year

Millions of yen
1,300

Operating profit% Millions of yen
12.6
400

Ordinary profit% Millions of yen
12.9
400

1Profit% Millions of yen
18.1
280

Earnings per share%
13.3

Yen
83.38

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: No(2) 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:
NoChanges in accounting policies due to other reasons:

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

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of July 31, 2018

3,359,629 shares As of April 30, 2018

3,333,839 shares– shares As of April 30, 201810 shares

Number of treasury shares at the end of the period
As of July 31, 2018

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended July 31, 2018

3,353,459 shares Three months ended July 31, 2017

2– shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of April 30, 2018

As of July 31, 2018

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade

1,555,078
102,266

1,552,345
129,561

6,356
9,583

13,453
10,056

1,673,284

1,705,417

Non-current assets
Property, plant and equipment

30,25051,423

Intangible assets
Investments and other assets

233
44,364208
40,778Work in process
OtherTotal current assets

Total non-current assets74,848

92,411

1,748,133

1,797,828

Current liabilities
Accounts payable - trade

21,89017,349

Income taxes payable
Provision for bonuses

125,524
6,414

31,194
16,035

Total assets
Liabilities

Other

89,472

49,111

Total current liabilities

243,301

113,691

243,301

113,691

Total liabilities
Net assets
Shareholders' equity
Capital stock

205,990259,655

Capital surplus
Retained earnings

973,676
325,167

1,027,337
397,143(4)–

1,504,831

1,684,136

1,504,831

1,684,136

1,748,133

1,797,828

Treasury shares
Total shareholders' equity
Total net assets
Total liabilities and net assets

3Non-consolidated statements of income (cumulative)(Thousands of yen)Three months ended
July 31, 2018
Net sales
Cost of sales

296,855
141,627

Gross profit

155,227

Selling, general and administrative expenses

50,992

Operating profit

104,234

Non-operating income
dividends on investment

12

Total non-operating income

12

Non-operating expenses
Share issuance cost
Other

85
19

Total non-operating expenses

104

Ordinary profit

104,142

Profit before income taxes

104,142

Income taxes - current

27,642Income taxes - deferred

4,524

Total income taxes

32,166

Profit

71,9764