May 14, 2021

COMSYS Holdings Corporation
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021
Under Japanese GAAP
Head Office:17-1, Higashigotanda 2-chome, Shinagawa-ku, Tokyo 141-8647, Japan
Stock Exchange Listings: First Section of Tokyo Stock Exchange (Securities code: 1721)
URL:
https://www.comsys-hd.co.jp/english/index.html
Representative:
Takashi Kagaya, President and Representative Director
Hidehiko Ozaki, Director and General Manager of Finance & Accounting Department (Telephone:81-3-3448-7000)
For Inquiry:
Scheduled Annual General Meeting of Shareholders: June 29, 2021
Scheduled Commencement of Dividend Payment: June 30, 2021
Scheduled Filing of Securities Report:
June 29, 2021
Supplementary Materials on Financial Results:
Attached
IR Presentation on Financial Results:
Scheduled (For Institutional Investors and Analysts)
Amounts less than one million yen have been omitted.

1. Consolidated Financial Results (for the fiscal year ended March 31, 2021)(1) Consolidated Operating Results
Net SalesYear ended March 31, 2021
Year ended March 31, 2020

¥563,252
560,882(Millions of yen, except per share data and percentages)

Operating Profit
0.4%
16.4

¥41,572
38,953

Profit Attributable to
Owners of Parent

Ordinary Profit

6.7%
10.5

¥42,941
40,064

7.2%
11.1¥29,369
25,994

13.0%
(7.2)

Notes: 1. Comprehensive income:Year ended March 31, 2021: ¥35,380 million [49.9%]
Year ended March 31, 2020: ¥23,605 million [(10.1)%]
2. Percentages indicate the percentage change from the corresponding period of the previous fiscal year.
Primary Earnings
per Share

Diluted Earnings
per Share

Return on Equity¥232.72202.97¥232.21202.46

9.2%
8.6

Year ended March 31, 2021
Year ended March 31, 2020
(Reference) Equity in earnings of affiliates:

Year ended March 31, 2021: ¥— million

Ordinary Profit/ Total Assets

Operating Margin

9.2%
9.0

7.4%
6.9

Year ended March 31, 2020: ¥— million(2) Consolidated Financial Position(Millions of yen, except per share data and percentages)

Total Assets
As of March 31, 2021
As of March 31, 2020

Net Assets¥479,419
450,043

Equity Ratio¥330,807
310,694

As of March 31, 2021: ¥327,554 million(Reference) Shareholders’ equity:Book Value per Share
68.3%
68.3

¥2,619.63
2,424.83

As of March 31, 2020: ¥307,553 million(3) Consolidated Cash Flows

Year ended March 31, 2021
Year ended March 31, 2020

(Millions of yen)

Cash Flows fromOperating Activities¥25,469
37,496

Cash Flows from
Investing Activities¥(8,861)(9,919)Cash Flows from
Financing Activities¥(20,258)(19,819)

2. Cash Dividends for Shareholders of Common Stock(Millions of yen, except per share data and percentages)

Dividends per ShareYear ended March 31, 2020
Year ended March 31, 2021
Year ending March 31, 2022 (Forecast)End of
1st QuarterEnd of2nd QuarterEnd of3rd Quarter

Year-End

Annual¥ ———¥35.00
40.00
45.00

¥ —
—
—

¥40.0045.00
50.00¥75.0085.00
95.00

3. Consolidated Earnings Forecast (for the fiscal year ending March 31, 2022)
Net SalesYear ending March 31, 2022

¥580,000

Cash and Cash Equivalents
at End of Year¥32,936
35,5033.0%

Consolidated Basis

Total
Dividends(Annual)Dividend
PayoutRatio

Ratio of
Dividends to
Net Assets

37.0%
36.5
41.0

3.2%
3.4

¥9,557
10,667(Millions of yen, except per share data and percentages)

Operating Profit

Ordinary Profit

Profit Attributable to
Owners of Parent¥43,000¥43,500¥29,000

3.4%

1.3%

(1.3)%

Primary Earnings
per Share¥231.93Note. For fiscal-year figures, percentages indicate the percentage change from the previous fiscal year. For first-half figures, percentages indicate the percentagechange from the corresponding half of the previous fiscal year.

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

*Notes:(1) Changes in significant subsidiaries during the period under review (changes to subsidiaries that would alter the scope of
consolidation): No(2) Changes in accounting policies, changes in accounting estimates and restatements of prior period financial statements
due to error correctiona) Changes in accounting policies due to revisions of accounting standards: Nob) Changes in accounting policies due to other reasons: Noc) Changes in accounting estimates: Nod) Restatements of prior period financial statements due to error correction: No(3) Number of shares issued (common shares)
		a) Number of shares issued (including treasury shares)b) Number of treasury shares		c) Average number of shares issued in the period

As of March 31, 2021
141,000,000 shares
15,961,855 shares

As of March 31, 2020
141,000,000 shares
14,164,947 sharesYear ended March 31, 2021
126,197,022 sharesYear ended March 31, 2020
128,070,044 shares(Reference) Summary of Non-Consolidated Financial Results
Non-Consolidated Financial Results (for the fiscal year ended March 31, 2021)(1) Non-Consolidated Operating Results
Operating Revenues
Year ended March 31, 2021
Year ended March 31, 2020

¥13,168
12,8942.1%
23.1(Millions of yen, except per share data and percentages)

Operating Profit¥11,836
11,537

Ordinary Profit
2.6%
25.3

¥11,832
11,537

Profit2.6%
24.8¥11,755
11,4592.6%
24.8

Note: Percentages indicate the percentage change from the corresponding period of the previous fiscal year.
Primary Earnings per Share

Diluted Earnings per Share¥93.1589.48¥92.95
89.25

Year ended March 31, 2021
Year ended March 31, 2020

(2) Non-Consolidated Financial Position(Millions of yen, except per share data and percentages)

Total Assets
As of March 31, 2021
As of March 31, 2020
(Reference) Shareholders’ equity:

Net Assets¥164,425
157,841¥127,542
131,611

As of March 31, 2021: ¥126,778 million

Equity Ratio

Book Value per Share
77.1%
83.0

¥1,013.92
1,032.52

As of March 31, 2020: ¥130,959 million*This Consolidated Financial Results report has not been subjected to audit procedures by certified public accountants or an audit corporation.
*Disclaimer concerning the Proper Use of Business Results Forecasts and Other Relevant Specific Items
1. Forward-looking statements including earnings forecasts contained in this document are based on certain reasonable assumptions and beliefs
in light of information currently available to management. Readers are advised that actual results may differ materially from forecasts due
to a variety of factors. With respect to the conditions that underpin earnings forecasts as well as cautionary statements regarding the properuse of earnings forecasts, please refer to “1. Business Review” of this Consolidated Financial Results report in the Accompanying Materials
section on page 3.
2. The Company plans to stream a video of the results briefing for institutional investors and analysts on Tuesday, May 20, 2021 (available
only in Japanese). The materials for the briefing will be uploaded to the corporate website before the video is streamed.

2

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Accompanying Materials
1. Business Review(1) Operating Results
During the fiscal year ended March 31, 2021 (April 1, 2020 to March 31, 2021), the Japanese economy continued to facechallenging conditions amid the prolonged impact of COVID-19. The level of social and economic activity is gradually
increasing with infection control measures being taken, and some areas are showing signs of recovery. Despite this trend, it will benecessary to monitor the impact of the spread of infection and turbulence in financial and capital markets in Japan and overseas,
and it is expected that the business outlook will continue to remain uncertain.
As for the business environment surrounding the COMSYS Group, in the information and communications field,
there is a need for the improvement and development of advanced telecommunications infrastructure that can distributehigh volumes of information promptly for the transition to a digitized, online society, while developing fiber optic
networks, including the High-speed Wireless Environment Maintenance Promotion Project and implementing the
installation of base stations to expand 5G services. In the public and private sectors, social infrastructure investment isproceeding. This includes boosting initiatives on renewable energy, including solar power, disaster prevention andmitigation measures in response to increasingly severe and frequent natural disasters, and measures to address the aging ofroads, bridges and other infrastructure. In addition, investment in improving the ICT increased in the education sector,
such as the GIGA School program.
The COMSYS Group worked to develop and strengthen the construction system making maximum use of Group
resources in order to handle national-scale projects such as the High-speed Wireless Environment Maintenance Promotion
Project. It also strengthened Group-wide sales collaboration utilizing the virtual company structure, expanded its businessdomains, and raised productivity. Moreover, the Group implemented workstyle reforms through the utilization of ICT,
including teleworking during the COVID-19 pandemic, and worked to reduce costs.
Under these circumstances, although the Group was impacted by the COVID-19 pandemic in the first half of the fiscal
year under review with fewer opportunities to obtain orders due to a decrease in social and economic activities and prolonged
construction periods, the COMSYS Group continued its business activities with rigorous infection control, and, consequently,
business performance improved starting in the second half of the fiscal year. As a result, orders received in the fiscal year ended
March 31, 2021 decreased 0.7% year on year to ¥586,512 million, which was partly attributable to the decline from the high levelof orders received in the previous fiscal year, and net sales increased 0.4% year on year to ¥563,252 million. From a profit
perspective, operating profit increased by 6.7% year on year to ¥41,572 million, while profit attributable to owners of parent
increased 13.0% year on year to ¥29,369 million.

(2) Financial Position(a) Assets
Current assets as of March 31, 2021 stood at ¥278,860 million, ¥21,779 million higher than at the end of the previous fiscal
year. This was mainly attributable to a ¥17,403 million increase in notes receivable, accounts receivable from completed
construction contracts and other, and a ¥2,108 million increase in costs on construction contracts in progress. Non-current
assets as of March 31, 2021 stood at ¥200,559 million, ¥7,596 million higher than at the end of the previous fiscal year.
This was mainly attributable to an increase of ¥2,082 million in property and equipment, an increase of ¥5,880 million in
investments and other assets, and a ¥365 million decrease in intangible assets.
As a result, total assets amounted to ¥479,419 million as of March 31, 2021, an increase of ¥29,376 million
compared with the end of the previous fiscal year.
(b) Liabilities
Current liabilities as of March 31, 2021 stood at ¥128,229 million, up ¥10,187 million compared with the previous fiscal yearend. This was mainly attributable to an increase of ¥7,523 million in notes payable, accounts payable for construction contracts
and other, an increase of ¥3,933 million in income taxes payable, and a ¥1,897 million decrease in short-term borrowings. As of
March 31, 2021, non-current liabilities amounted to ¥20,382 million, ¥924 million lower compared with the end of the previous
fiscal year. This was mainly attributable to a ¥643 million decrease in long-term borrowings, a ¥588 million decrease inretirement benefit liability, and a ¥166 million increase in deferred tax liabilities.
As a result, total liabilities amounted to ¥148,611 million, an increase of ¥9,262 million compared with the end of theprevious fiscal year.
(c) Net assets
Net assets stood at ¥330,807 million as of March 31, 2021, an increase of ¥20,113 million compared with the end of theprevious fiscal year. This was primarily due to a ¥19,813 million increase in retained earnings mainly resulting from therecording of profit attributable to owners of parent.
As of the end of the fiscal year under review, the equity ratio stood at 68.3%, no change from 68.3% as of March 31, 2020.
3

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(3) Cash Flow
Cash and cash equivalents stood at ¥32,936 million at the end of the fiscal year, a decrease of ¥2,567 million, or 7.2%,
compared with the end of the previous fiscal year.
The principal factors underpinning movements in each of the Group’s major cash flows for the fiscal year ended
March 31, 2021 are presented as follows.
(a) Cash flows from operating activities
Net cash provided by operating activities stood at ¥25,469 million compared with ¥37,496 million for the previous fiscal
year. The major cash inflows were profit before income taxes of ¥43,264 million and depreciation of ¥9,279 million. Major
cash included trade receivables of ¥16,670 million and income taxes paid of ¥12,311 million.
(b) Cash flows from investing activities
et cash used in investing activities totaled ¥ 8,861 million for the fiscal year under review compared with net cash of ¥9,919
million used in the previous fiscal year. The major cash outflows were purchase of property, plant and equipment of ¥10,533
million and purchase of intangible assets of ¥1,618 million. Major cash inflows included proceeds from sale of investment
securities of ¥5,870 million.
(c) Cash flows from financing activities
Net cash used in financing activities was ¥20,258 million for the fiscal year ended March 31, 2021, compared with ¥19,819
million used in financing activities in the previous fiscal year. Purchase of treasury shares amounted to ¥7,018 million,
dividends paid totaled ¥10,114 million, and repayments of long-term borrowings amounted to ¥1,938 million..

(4) Outlook for fiscal year ending March 31, 2022
A recovery in social and economic activity is expected due to the rollout of the vaccine against COVID-19 and rigorous
infection control measures. Despite this, it is uncertain when the COVID-19 pandemic will be contained, and the future
outlook remains challenging. Given this situation, the COMSYS Group will continue to give full consideration to the healthand safety of its employees and those of the affiliates, and strive for infection control measures as it engages in its businessactivities.
In the outlook for the fiscal year ending March 31, 2022, although there are concerns over the recovery of private
sector investment, it is expected there will be a full-scale rollout of 5G services, public infrastructure investment, including
disaster prevention and mitigation and national resilience, ICT investment accompanying the society-wide digital
revolution, and the expansion of investment in the renewable energy sector for the realization of a green society. Goingforward, the Group will also work to raise productivity through the implementation of a variety of measures, including
structural reform based on digital transformation (DX) as its centerpiece and workstyle reforms for the “new normal.” As aresult, the Group expects growth in sales and profit.
Consolidated Earnings Forecast(Millions of yen, except percentages)

Year ended March 31, 2021

Year ending March 31, 2022

ChangeOrders received¥586,512¥570,000(2.8)%Net sales

563,252

580,000

3.0

Gross profits

75,98978,000

2.6

Operating profit

41,57243,000

3.4

Ordinary profit

42,941

43,500

1.3

Profit attributable to owners of parent

29,36929,000(1.3)

2. Basic Approach to Selection of Accounting Standard
The COMSYS Group’s policy for the time being is to use Japanese GAAP for the preparation of its consolidated financial
statements because its business operations are primarily carried out in Japan, and comparison with other Japanese companies
is thus facilitated.

4

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

3. Consolidated Financial Statements(1) Consolidated Balance Sheets
Millions of yen
As of March 31, 2020 As of March 31, 2021

ASSETS
		 Current assets:
			 Cash and deposits
			 Notes receivable, accounts receivable			from completed construction contracts and other			 Investments in leases
			 Costs on construction contracts in progress
			 Real estate for sale			 Merchandise
			 Raw materials and supplies
			 Other current assets
			 Allowance for doubtful accounts
			 Total current assets
		 Non-current assets:
			 Property, plant and equipment:				 Buildings and structures					 Accumulated depreciation					 Buildings and structures, net				 Machinery, equipment and vehicles and tools, furniture and fixtures					 Accumulated depreciation					 Machinery, equipment and vehicles and tools, furniture and fixtures, net				 Land				 Lease assets					 Accumulated depreciation					 Lease assets, net				 Construction in progress				 Total property, plant and equipment
			 Intangible assets				 Goodwill				 Other intangible assets				 Total intangible assets
			 Investments and other assets:				 Investment securities				 Long-term loans receivable				 Deferred tax assets				 Retirement benefit asset				 Other assets				 Allowance for doubtful accounts				 Total investments and other assets
			 Total non-current assets
		 Total assets

535,99233,259177,267
5,320
26,070
2,750
991
2,046
6,776
(135)
257,080

194,671
5,223
28,178
2,905
980
2,376
11,406(139)
278,860

90,025(47,342)
42,68358,918(32,048)
26,86967,2852,983(1,384)
1,599
175
138,61292,740(49,060)
43,67960,591(33,421)
27,16967,483
3,417(1,630)1,787
574
140,694

3,902
3,940
7,842

3,062
4,414
7,477

26,084881
3,283
11,076
5,533(352)
46,507
192,962450,043

25,0983,586
3,127
15,464
5,535(425)
52,387200,559
479,419

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Millions of yen
As of March 31, 2020 As of March 31, 2019

LIABILITIES		 Current liabilities:
			 Notes payable, accounts payable for construction contracts and other			 Short-term borrowings
			 Income taxes payable			 Advances received on construction contracts in progress			 Provision for warranties for completed construction
			 Provision for loss on construction contracts
			 Provision for loss compensation
			 Other current liabilities
			 Total current liabilities
		 Non-current liabilities:
			 Long-term borrowings
			 Deferred tax liabilities
			 Deferred tax liabilities for land revaluation
			 Retirement benefit liability
			 Provision for retirement benefits for directors (and other officers)
			 Other non-current liabilities
			 Total non-current liabilities
		 Total liabilities
NET ASSETS
		 Shareholders’ equity:
			 Share capital			 Capital surplus
			 Retained earnings
			 Treasury shares
			 Total shareholders’ equity
		 Accumulated other comprehensive income:			 Valuation difference on available-for-sale securities
			 Deferred gains or losses on hedges
			 Revaluation reserve for land
			 Remeasurements of defined benefit plans
			 Total accumulated other comprehensive income
		 Share acquisition rights
		 Non-controlling interests
		 Total net assets
Total liabilities and net assets

680,289
7,038
5,318
5,097
235
728
—
19,335
118,042

87,812
5,141
9,251
5,346
252
665
309
19,451
128,229

1,107
656
1,315
14,123587
3,516
21,307
139,349

464
823
1,303
13,535612
3,643
20,382
148,611

10,00092,203241,033(27,125)
316,111

10,00092,552
260,846(33,284)
330,1141,264(12)(8,028)(1,780)(8,557)652
2,487
310,694
450,0433,322
0(8,046)2,163(2,559)764
2,489
330,807479,419

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)Millions of yen
Year ended
Year ended
March 31, 2020
March 31, 2021

Net sales
Cost of sales
Gross profits
Selling, general and administrative expenses
Operating profit
Non-operating income:		 Interest income
		 Dividend income
		 Rental income from non-current assets
		 Other		 Total non-operating income
Non-operating expenses:
		 Interest expenses
		 Rent expenses
		 COVID-19 related expenses
		 Foreign exchange losses
		 Other		 Total non-operating expenses
Ordinary profit
Extraordinary income:		 Gain on sales of investment securities
		 Gain on sales of non-current assets
		 Other		 Total extraordinary income
Extraordinary loss:
		 Loss on retirement of non-current assets
		 Impairment loss
		 Provision for loss compensation
		 Loss on valuation of investment securities
		 Other		 Total extraordinary loss
Profit before income taxes
Income taxes:
		 Current
		 Deferred		 Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

7560,882
487,269
73,612
34,65838,953563,252
487,262
75,98934,417
41,572

42
721
330
450
1,545

23
1,138
283
597
2,043

52
174
—
45
162
434
40,064

33
148
285
—
205
673
42,941

523
27
107
658

2,320
73
532
2,926

78
494
—
350
320
1,244
39,478

71
1,526
309
—
695
2,603
43,264

13,26964
13,333
26,144
149
25,994

16,176(2,264)
13,911
29,352(16)
29,369

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(Consolidated Statements of Comprehensive Income)Millions of yen
Year ended
Year ended
March 31, 2020
March 31, 2021

ProfitOther comprehensive income:			 Valuation difference on available-for-sale securities
			 Deferred gains or losses on hedges
			 Remeasurements of defined benefit plans
			 Total other comprehensive income (loss)
Comprehensive income
		 (Breakdown)
			 Comprehensive income attributable to owners of parent
			 Comprehensive income attributable to non-controlling interests

8

26,14429,352(1,548)(12)(978)(2,539)23,605

2,069
13
3,945
6,027
35,38023,457
147

35,385(4)

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(3) Consolidated Statements of Changes in Net Assets
Millions of yen

Shareholders’ equity

Year ended March 31, 2020

SharecapitalCapitalsurplusRetainedearnings

Treasuryshares

Total
Shareholders’equityBalance at beginning of period

10,00091,549223,261(20,539)304,271

Changes in items during period:
Dividends of surplus(8,345)

Profit attributableto owners of parent

25,994Purchase of treasury shares(8,345)25,994(8,005)(8,005)778

925

Disposal of treasury shares

146

Purchase of treasury sharesof subsidiaries

65

65

Purchase of sharesof consolidated subsidiaries

(74)

(74)

Changes of scope of consolidation—

Increase by share exchanges

639

517

Reversal of revaluation reserve
for land

1,157

122

122

Net changes in items otherthan shareholders’ equity
Total changes in items during period
Balance at end of period

—
—

654

17,771(6,586)

11,83910,00092,203241,033(27,125)

316,111

Millions of yen

Accumulated other comprehensive income

Year ended March 31, 2020
Balance at beginning of period

Valuation
Deferreddifference
on availablefor- gains or losses
on hedges
sale securities

Revaluation
reservefor land(0)(7,905)

2,810

Total
accumulated
otherRemeasurementsof defined comprehensive
incomebenefit plans(802)(5,898)

Shareacquisitionrights

Noncontrollinginterests

Total
net assets

657

2,428

301,459

Changes in items during period:
Dividends of surplus(8,345)

Profit attributableto owners of parent

25,994Purchase of treasury shares(8,005)

Disposal of treasury shares

925

Purchase of treasury sharesof subsidiaries

65

Purchase of sharesof consolidated subsidiaries(74)

Changes of scope of consolidation—

Increase by share exchanges

1,157

Reversal of revaluation reserve
for land122

Net changes in items otherthan shareholders’ equity(1,546)

(12)

(122)

(977)

(2,659)(4)

58(2,604)

Total changes in items during period(1,546)

(12)

(122)

(977)

(2,659)

(4)

58

9,234

1,264

(12)

(8,028)(1,780)(8,557)

652

2,487

310,694

Balance at end of period

9

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Millions of yen

Shareholders’ equity

Year ended March 31, 2021

SharecapitalCapitalsurplusRetainedearnings

Treasuryshares

Total
Shareholders’equityBalance at beginning of period

10,00092,203241,033(27,125)

316,111

Changes in items during period:
Dividends of surplus(10,114)

Profit attributableto owners of parent

29,369Purchase of treasury shares
Disposal of treasury shares

178(10,114)
29,369(7,004)(7,004)511

689

Purchase of treasury sharesof subsidiaries—

Purchase of sharesof consolidated subsidiaries

8

Changes of scope of consolidation

4

Increase by share exchanges

8

539
334

156

Reversal of revaluation reserve
for land

544
490

18

18

Net changes in items otherthan shareholders’ equity
Total changes in items during period
Balance at end of period

—
—

348

19,813(6,158)14,002

10,00092,552

260,846(33,284)

330,114

Millions of yen

Accumulated other comprehensive income

Year ended March 31, 2020
Balance at beginning of period

Valuation
Deferreddifference
on availablefor- gains or losses
on hedges
sale securities

Revaluation
reservefor land(12)(8,028)

1,264

Total
accumulated
otherRemeasurementsof defined comprehensive
incomebenefit plans(1,780)(8,557)

Shareacquisitionrights

Noncontrollinginterests

Total
net assets

652

2,487

310,694

Changes in items during period:
Dividends of surplus(10,114)

Profit attributableto owners of parent

29,369Purchase of treasury shares(7,004)

Disposal of treasury shares

689

Purchase of treasury sharesof subsidiaries—

Purchase of sharesof consolidated subsidiaries

8

Changes of scope of consolidation

544

Increase by share exchanges

490

Reversal of revaluation reserve
for land18

Net changes in items otherthan shareholders’ equity

2,058

13

(18)

3,944

5,997

111

1

6,110

Total changes in items during period

2,058

13

(18)

3,944

5,997

111

1

20,1133,322

0(8,046)2,163(2,559)

764

2,489

330,807

Balance at end of period

10

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(4) Consolidated Statements of Cash Flows
Millions of yen
Year ended
Year ended
March 31, 2020
March 31, 2021

Cash flows from operating activities:
		 Profit before income taxes
		 Depreciation
		 Impairment loss
		 Amortization of goodwill
		 Increase (decrease) in allowance for doubtful accounts
		 Increase in retirement benefit liability
		 Interest and dividend income
		 Interest expenses
		 Increase in trade receivables
		 Decrease (increase) in costs on construction contracts in progress
		 Increase in trade payables
		 Gain on sale of investment securities
		 Loss on valuation of investment securities
		 Decrease (increase) in other assets
		 Increase in other liabilities
		 Other, net
							 Interest and dividends received
		 Interest paid
		 Income taxes paid
		 Net cash provided by operating activities
Cash flows from investing activities:
		 Net decrease in time deposits
		 Purchase of investment securities
		 Proceeds from sale of investment securities
		 Purchase of shares of subsidiaries
		 Purchase of property, plant and equipment
		 Purchase of intangible assets
		 Proceeds from sales of property, plant and equipment
		 Loan advances
		 Collection of loans receivable		 Purchase of insurance funds
		 Proceeds from cancellation of insurance funds
		 Other, net
		 Net cash used in investing activities

11

39,478
9,150
494
1,097
(5)
118
(764)
52
(7,711)
1,702
1,896
(523)
350
2,573
2,059
856
50,827764(51)(14,043)
37,49643,264
9,279
1,526
1,132
70
310
(1,162)
33(16,670)(2,338)5,803(2,278)—(4,091)
1,309
462
36,651
1,161(33)(12,311)25,469

570
(261)
887
(265)
(10,264)
(920)
189
(76)
170
(176)
496
(271)
(9,919)

178
(115)
5,870
(410)
(10,533)(1,618)562(3,051)
217
(189)
99
128
(8,861)COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Millions of yen
Year ended
Year ended
March 31, 2020
March 31, 2021

Cash flows from financing activities:
		 Net decrease in short-term borrowings
		 Repayments of long-term borrowings
		 Purchase of treasury shares
		 Proceeds from sales of treasury shares
		 Purchase of shares of subsidiaries
			 not resulting in change in scope of consolidation
		 Purchase of treasury shares of subsidiaries
		 Dividends paid		 Dividends paid to non-controlling interests
		 Repayments of finance lease obligations
		 Other, net
		 Net cash used in financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting
			 from change in scope of consolidation
Cash and cash equivalents at end of period

12(1,080)(2,456)(8,024)645(1,033)(1,938)(7,018)
508

(83)
(1)
(8,345)
(13)
(460)
—
(19,819)(31)
7,725
27,778(4)—(10,114)
(13)
(593)
(50)
(20,258)
21(3,629)35,503—35,503

1,061
32,936

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(Per share Information)
Yen
Year ended		March 31, 2020		

Book value per sharePrimary earnings per share
Diluted earnings per share

Year ended
March 31, 2021

2,424.83
202.97202.462,619.63
232.72232.21

Notes. The bases for calculation of primary earnings per share and diluted earnings per share are as follows:
Millions of yen, except per share data and number of sharesYear ended		Year ended
March 31, 2020		
March 31, 2021

Primary earnings per share				 Profit attributable to owners of parent
25,994
		 Amount not attributable to common shareholders—
		 Profit attributable to owners of parent			
attributable to common shares
25,994
		 Average number of common shares			during the period (in thousands)
128,070

126,197

Diluted earnings per share		
		 Adjustment for profit attributable to owners of parent—
		 Increase in number of shares of common shares (in thousands)
326
		 [Of which share acquisition rights (in thousands)]
[326]

—
277
[277]

Outline of dilutive shares which were not included in
the calculation of “Diluted earnings per share”
because they do not have dilutive effect:
				
				
				

13

29,369—29,369August 7, 2019
Board of Directors resolution

August 7, 2020
Board of Directors resolution

Stock options(Share acquisition rights)

Stock options(Share acquisition rights)

Common stock 399 thousand shares

Common stock 550 thousand shares

COMSYS Holdings Corporation (1721)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

(Significant Subsequent Event)(Acquisition of Treasury Stock)
The meeting of the Board of Directors held on May 14, 2021 resolved as follows on the matters related to the acquisitionof treasury stock in accordance with Article 156 of Japan’s Companies Act, as applied pursuant to paragraph 3, Article
165 of the Act.
(a) Reason for Purchase
The Company will acquire treasury stock in order to facilitate enhancement of shareholder returns and the execution offlexible capital policies that respond to changes in the corporate environment.
(b) Details of Acquisition
1) Type of Shares to be Acquired

Common shares of the Company

2) Total Number of Shares to be Acquired

Up to 2,000,000 shares3) Total Acquisition Price

Up to ¥4,000,000,000

4) Acquisition Period

From May 17, 2021 to March 31, 2022

5) Acquisition Method

Purchase on the Tokyo Stock Exchange

4. Other
Change of Directors
1) Changes in Representatives
Not applicable.
2) Changes in Other Officers (scheduled for June 29, 2021)
1. Candidates for Appointment as New Directors (excluding Audit and Supervisory Committee Member)
Takaya Kitaguchi, Director(currently Associate Director)
2. Candidates for Appointment as New Directors (Audit and Supervisory Committee Members)
Atsushi Yasunaga, Director(currently Corporate Auditor, Nippon COMSYS Corporation)
Hiroyuki Asai, Outside Director(currently Advisor, Sumitomo Metal Mining Co., Ltd.)
Hideo Yamamoto, Outside Director(currently Director, Yamamoto Hideo Tax Accountancy Office)
3. Retiring Directors (Audit and Supervisory Committee Members)
Koichiro Kamiwaki, Director(continued to be appointed as Auditor of Nippon COMSYS Corporation)
Kenichi Narumiya, Outside Director
Kazuyoshi Onohara, Outside Director

14