Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

May 12, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under IFRS)
Company name:
COLOWIDE Co., Ltd.
Listing:
Tokyo Stock Exchange, Prime Market
Securities code:
7616
URL:
https://www.colowide.co.jp/
Representative:
Kohei Nojiri, President and Representative Director
Inquiries:
Masaaki Yonemura, General Manager, Corporate Planning Department
Telephone:+81-45-274-5970
Scheduled date of annual general meeting of shareholders:June 27, 2023
Scheduled date to commence dividend payments:
June 7, 2023
Scheduled date to file annual securities report:
June 28, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded to millions, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,
2023)(1) Consolidated operating results(Percentages indicate year-on-year changes)
Business profit*1

Revenue
Fiscal year ended

Millions of yen%

March 31, 2023

220,830

25.7

(196)

March 31, 2022

175,627

4.4

6,133

Profit attributable toowners of parent

EBITDA*2

Millions of yen%

Millions of yen%

Millions of yen

−

7,400

(48.7)(8,579)−−14,416

−

3,068

−

Total comprehensive
incomeFiscal year ended

Millions of yen

March 31, 2023

(6,801)−(8,448)March 31, 2022

1,437

−

3,255

%

Return on equity
attributable to owners ofparentProfitMillions of yen

Basic earnings
per share%

Diluted earnings
per share
Yen

Yen

−

(84.45)(84.45)

−

11.31

11.31

Ratio of profit before tax Ratio of business profit to
to total assets
revenue

Fiscal year ended

%

%

%

March 31, 2023

(15.7)

(3.2)

(0.1)

March 31, 2022

2.3

0.8

3.5

Reference:

Share of profit (loss) of investments accounted for using equity method
For the fiscal year ended March 31, 2023:¥− million
For the fiscal year ended March 31, 2022:¥− million*1 Business profit = Revenue - cost of sales - selling, general and administrative expenses
2 EBITDA = Business profit + depreciation and amortization (excluding depreciation of right-of-use assets)
Operating profit under IFRS for the fiscal year ended March 31, 2023 was ¥(6,743) million.

−1−%(2) Consolidated financial position
Total assets
As ofEquity attributableto owners of parent

Total equity

Ratio of equity
attributable toowners of parent tototal assets

Equity attributableto owners of parent
per share

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

261,859

50,70142,74516.3%

314.11

Yen

March 31, 2022

267,698

60,03050,30018.8

401.40(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Millions of yen

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

28,783(8,788)(18,755)

50,066

March 31, 2022

23,830(3,522)(9,511)

48,534

2. Cash dividends
Annual dividends per share

First
SecondThird
quarter-end quarter-end quarter-end

Yen
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)

Yen

Fiscalyear-end

Yen

Total

Yen

Total cash
dividends(Total)Ratio ofdividends toequityPayout ratio
attributable to(Consolidated)owners ofparent(Consolidated)

Yen Millions of yen

%

%

−

0.00

−

5.00

5.00

433

44.2

1.6

−

0.00

−

5.00

5.00

433

−

1.4

−

0.00

−

5.00

5.00

−

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (from April 1, 2023 toMarch 31, 2024)(Percentages indicate year-on-year changes)
Revenue

Full year

Business profit

Millions of yen%

Millions of yen

245,005

10.9

7,967

Profit attributable toowners of parent
Millions of yen

Full year

1,130

EBITDA%−

Basic earnings
per share
%

Yen

−

7.06

−2−

ProfitMillions of yen%

Millions of yen

16,099

117.5

3,186

%

−

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Changes in accounting policies and changes in accounting estimates(i) Changes in accounting policies required by IFRS: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

86,903,541 shares

As of March 31, 2022

86,903,541 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023

223,977 shares

As of March 31, 2022

250,218 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023

86,667,527 sharesFiscal year ended March 31, 2022

81,292,820 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,2023)(1) Non-consolidated operating results(Percentages indicate year-on-year changes)

Operating revenue

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

March 31, 2023

1,128

28.0

(2,949)−(2,281)−(2,066)−

March 31, 2022

882

(4.9)

(3,098)−(2,656)−(2,417)−

Basic earnings
per share

Millions of yen%

Millions of yen%

Millions of yen%

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2023

(29.83)−

March 31, 2022

(36.10)−Yen(2) Non-consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2023

134,990

57,14542.3

480.25

March 31, 2022

135,344

60,11144.4

514.62

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:¥57,145 million¥60,111 million

−3−

%

Yen

* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters(Warning regarding forward-looking statements)
The above forecasts of consolidated financial results are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. Actual results may differ substantially due tovarious factors.
Disclosure of non-consolidated forecast information has been omitted because the impact on the consolidated
figures is negligible and it is not important.
(How to obtain the supplementary material on financial results)
The supplementary material on financial results is disclosed on TDnet and is also scheduled to be posted on the
Company’s website.

−4−Preferred Share Dividends
Details of dividends per share and total dividends on shares in classes with different rights from those of commonshares are as follows.
Preferred shares
Dividends per share(Record date)

Total cash
dividends(Total)First quarterend

Second quarterend

Third quarterend

Fiscal year-end

Yen

Yen

Yen

Yen

Yen

Yen

Preferred shares

AnnualFiscal year ended
March 31, 2022

−

−

−

3,126,360.00

3,126,360.00

93,790,800.00

Fiscal year ended
March 31, 2023

−

−

−

3,136,360.00

3,136,360.00

94,090,800.00

Fiscal year ending
March 31, 2024 (Forecast)

−

−

−

3,149,090.00

3,149,090.00

94,472,700.00

Yen

Yen

Yen

Second series preferredshares

Yen

Yen

Yen

Fiscal year ended
March 31, 2022

−

−

−

3,626,360.00

3,626,360.00 108,790,800.00

Fiscal year ended
March 31, 2023

−

−

−

3,636,360.00

3,636,360.00 109,090,800.00

Fiscal year ending
March 31, 2024 (Forecast)

−

−

−

3,649,090.00

3,649,090.00 109,472,700.00

Third series preferredshares

Yen

Yen

Yen

Yen

Yen

Yen

Fiscal year ended
March 31, 2022

−

−

−

3,500,000.00

3,500,000.00 315,000,000.00

Fiscal year ended
March 31, 2023

−

−

−

3,500,000.00

3,500,000.00 315,000,000.00

Fiscal year ending
March 31, 2024 (Forecast)

−

−

−

3,500,000.00

3,500,000.00 315,000,000.00−5−

Consolidated Financial Statements(1) Consolidated Statement of Financial Position(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Income taxes receivable
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Right-of-use assets
Goodwill
Intangible assets
Investment property
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets−6−

As of March 31, 2023

48,534
14,167
919
2,804
565
3,947
70,93650,066
11,124
634
3,492
386
3,611
69,312

41,501
25,47880,218
12,588390
22,607
13,544436
196,762
267,698

42,87222,50980,188
11,243389
20,861
14,038447
192,547
261,859(Millions of yen)
As of March 31, 2022
Liabilities and equity
Liabilities
Current liabilities
Trade and other payables
Bonds and borrowings
Lease liabilities
Other financial liabilities
Income taxes payable
Provisions
Contract liabilities
Other current liabilities
Total current liabilities
Non-current liabilities
Trade and other payables
Bonds and borrowings
Lease liabilities
Other financial liabilities
Provisions
Deferred tax liabilities
Contract liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShare capital
Capital surplus
Treasury shares
Other components of equity
Retained earnings
Total equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity−7−

As of March 31, 2023

17,53330,872
15,779
23
683
4,643
207
8,970
78,70923,661
31,956
14,681
25
926
5,532
211
9,504
86,494

3,521
93,463
20,348
2,146
7,090
685
796
909
128,959
207,668

4,167
91,50918,419
2,048
6,478
484
855
703
124,664
211,158

27,90540,424(159)(450)(17,421)50,3009,730
60,030267,698

27,90540,482(143)(327)(25,172)
42,745
7,956
50,701
261,859(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income(Consolidated Statement of Income)Fiscal year ended
March 31, 2022
(from April 1, 2021 toMarch 31, 2022)
175,627
78,93996,68890,555
6,133(Millions of yen)
Fiscal year ended
March 31, 2023
(from April 1, 2022 toMarch 31, 2023)
220,830
96,619124,212
124,408
(196)

303
561
1,652
2,516

265
632
1,154
2,051

2,753
841
3,594
5,055
897
3,902
2,051
(1,017)
3,068

7,061
1,537
8,598
(6,743)
1,223
2,926(8,446)133(8,579)Profit (loss) attributable to
Owners of parent
Non-controlling interests
Profit (loss)

1,437
1,631
3,068

(6,801)(1,778)(8,579)Earnings (loss) per share
Basic earnings (loss) per share (Yen)
Diluted earnings (loss) per share (Yen)

11.31
11.31

(84.45)(84.45)

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Business profit (loss)
Other operating income
Rental income
Miscellaneous income
Other
Total other operating income
Other operating expenses
Impairment losses
Other
Total other operating expenses
IFRS operating profit (loss)
Finance income
Finance costs
Profit (loss) before tax
Income tax expense
Profit (loss)−8−

(Consolidated Statement of Comprehensive Income)

Profit (loss)

Fiscal year ended
March 31, 2022
(from April 1, 2021 toMarch 31, 2022)
3,068(Millions of yen)
Fiscal year ended
March 31, 2023
(from April 1, 2022 toMarch 31, 2023)(8,579)

(12)

(6)

(12)

(6)

18

(49)

181

187

Other comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value throughother comprehensive income
Total of items that will not be reclassified to
profit or loss
Items that may be reclassified to profit or loss
Cash flow hedges
Exchange differences on translation of foreign
operations
Total of items that may be reclassified to profit
or loss
Other comprehensive income, net of tax
Comprehensive income

199

137

187
3,255

131
(8,448)Comprehensive income attributable to
Owners of parent
Non-controlling interests
Comprehensive income

1,610
1,644
3,255

(6,678)(1,770)(8,448)−9−

(3) Consolidated Statement of Changes in Equity
Fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)

Share capital

Balance as of April 1, 2021

(Millions of yen)
Equity attributable to owners of parent
Other components of equity
Financial assets
measured at fair
Remeasurements
Capital surplus Treasury shares value throughCash flowof definedotherhedgesbenefit planscomprehensive
income18,53031,302(159)

Profit

−

−

−

−

−

−

Other comprehensive income

−

−

−

(8)

−

31

Comprehensive income

15

(7)

(221)

−

−

−

(8)

−

31

9,375

9,282

−

−

−

−

Purchase of treasury shares

−

−

(0)

−

−

−

Disposal of treasury shares

−

0

0

−

−

−

Dividends

−

−

−

−

−

−

−

8

−

−

−

−

−

(167)

−

−

−

−

−

−

−

−

7

−

Total transactions and others with owners

9,375

9,122

(0)

−

7

−

Balance as of March 31, 2022

27,90540,424

(159)

7

−

(189)

Equity attributable to owners of parent
Other components of equity
Total equity
Exchange
Non-controlling
Retained
attributable todifferences on
Total otherinterests
earnings
owners oftranslation of components ofequityparentforeign
operations

Total equity

Issuance of new shares

Changes in ownership interests of parent due
to transactions with non-controlling interests
Changes in ownership interest in subsidiaries
Transfer from other components of equity toretained earnings

Balance as of April 1, 2021
ProfitOther comprehensive income
Comprehensive income

(417)

(630)

(17,958)

31,086

8,355

39,441

−

−

1,437

1,437

1,631

3,068

150

173

−

173

13

187

150

173

1,437

1,610

1,644

3,255

Issuance of new shares

−

−

−

18,656−

18,656

Purchase of treasury shares

−

−

−

(0)

−

(0)

Disposal of treasury shares

−

−

−

0

−

0

Dividends

−

−

(893)

(893)

(227)

(1,120)

−

−

−

8

27

35

−

−

−

(167)

(69)

(237)

−

7

(7)

−

−

−

Changes in ownership interests of parent due
to transactions with non-controlling interests
Changes in ownership interest in subsidiaries
Transfer from other components of equity toretained earnings
Total transactions and others with owners
Balance as of March 31, 2022

−

7

(900)

17,604(270)

17,334

(267)

(450)

(17,421)50,3009,730

60,030− 10 −

Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

Share capital

Balance as of April 1, 2022
Loss
Other comprehensive income
Comprehensive income(Millions of yen)
Equity attributable to owners of parent
Other components of equity
Financial assets
measured at fair
Remeasurements
Capital surplus Treasury shares value throughCash flowof definedotherhedgesbenefit planscomprehensive
income27,90540,424

(159)

7

−

(189)

−

−

−

−

−

−

−

−

−

0

−

(57)

−

−

−

0

−

(57)

Purchase of treasury shares

−

−

(1)

−

−

−

Disposal of treasury shares

−

33

17

−

−

−

Dividends

−

−

−

−

−

−

−

25

−

−

−

−

−

57

16

−

−

−

27,90540,482

(143)

7

−

(246)

Equity attributable to owners of parent
Other components of equity
Total equity
Exchange
Non-controlling
Retained
attributable todifferences on
Total otherinterests
componentsofearnings
ownersoftranslation ofequityparentforeign
operations

Total equity

Changes in ownership interests of parent due
to transactions with non-controlling interests
Total transactions and others with owners
Balance as of March 31, 2023

Balance as of April 1, 2022
Loss
Other comprehensive income
Comprehensive income

(267)

(450)

(17,421)50,3009,730

60,030−−(6,801)(6,801)(1,778)(8,579)

179

123

−

123

8

131

179

123

(6,801)(6,678)(1,770)(8,448)Purchase of treasury shares

−

−

−

(1)

−

(1)

Disposal of treasury shares

−

−

−

50

−

50

Dividends

−

−

(951)

(951)

−

(951)

−

−

−

25

(4)

21

−

−

(951)

(877)

(4)

(881)

(88)

(327)

(25,172)

42,745

7,956

50,701

Changes in ownership interests of parent due
to transactions with non-controlling interests
Total transactions and others with owners
Balance as of March 31, 2023

− 11 −

(4) Consolidated Statement of Cash Flows
Fiscal year ended
March 31, 2022
(from April 1, 2021 toMarch 31, 2022)
Cash flows from operating activities
Profit (loss) before tax
Depreciation and amortization
Impairment losses
Finance income
Finance costs
Loss (gain) on sale and retirement of fixed assets
Decrease (increase) in inventories
Decrease (increase) in trade and other receivables
Increase (decrease) in trade and other payables
Other
SubtotalInterest and dividends received
Interest paid
Income taxes refund
Income taxes paid
Cash flows from operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Other
Cash flows from investing activities− 12 −(Millions of yen)
Fiscal year ended
March 31, 2023
(from April 1, 2022 toMarch 31, 2023)

2,051
21,765
2,753
(897)
3,902
(526)
1
71
(1,251)
2,078
29,948110(2,760)563(4,031)
23,830(8,446)
22,696
7,061(1,223)
2,926
69
(688)
3,043
5,455
488
31,383113(2,449)613(878)
28,783(12)(5,741)(12)(9,220)

1,623

1,074

(221)

(944)

2,416

1,988

(1,587)(3,522)(1,674)(8,788)(Millions of yen)
Fiscal year ended
March 31, 2023
(from April 1, 2022 toMarch 31, 2023)

Fiscal year ended
March 31, 2022
(from April 1, 2021 toMarch 31, 2022)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Redemption of bonds
Repayments of lease liabilities
Proceeds from issuance of shares
Purchase of treasury shares of consolidated
subsidiaries
Dividends paid
Dividends paid to non-controlling interests
Other
Cash flows from financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period− 13 −(14,742)
39,371(23,322)
2,531(13,608)(17,220)
18,59738
23,900(17,251)
4,675(12,443)(16,761)
−

(0)

(0)

(893)
(224)
(0)
(9,511)

(950)
(2)
39
(18,755)

(686)

292

10,111
38,422
48,534

1,532
48,53450,066