United, Inc
Consolidated Financial Report For the 3rd Quarter of FY 2021
(Japanese Accounting Standards)
Company name:

UNITED, Inc.

Stock exchange listing:February 8, 2022
Tokyo Stock Exchange

Stock code:

2497

URL:

https://united.jp/Representative:

Tomonori Hayakawa, CEOContact:

Yuji Yamashita, Executive Officer and General Manager of Corporate Administration DivisionTel:+81-3-6821-0000

Scheduled date for filing of quarterly securities report:

February 8, 2022

Scheduled date of commencement of dividend payment:―

Supplementary documents for quarterly results:

Yes

Quarterly results briefing:

Yes (For securities analysts and institutional investors)(Amounts of less than one million yen are rounded down)

1.Financial Highlights(1) Results of Operations(Percentages are shown as year-on-year changes)
Net sales

3rd Quarter of FY 2021

Mil.¥
10,786

3rd Quarter of FY 2020

13,859(Note) Comprehensive income :Operating income%
―

Mil.¥
5,612

Net income attributableto owners of the parent

Ordinary income
Mil.¥
5,619%―

Mil.¥3,875%
―

5,693
74.2
5,777
△13.3
3rd Quarter of FY 2021 3,200 Mil.¥ (△65.0%)

79.2

3,850857.1

3rd Quarter of FY 2020
Net income%―9,151 Mil.¥ (―%)

Net income

3rd Quarter of FY 2021

Yen
181.45per share (diluted)
Yen
181.31

3rd Quarter of FY 2020

172.75―per share (basic)(Note) In relation to the application of ASBJ Statement No. 29 “Accounting Standard for Revenue Recognition” from thebeginning of the 1st Quarter of FY 2021, Results of Operations for FY 2021 is presented based on the figures after
the application of ASBJ Statement No. 29. Year-on-year percentage changes are not presented because theCompany expects a significant impact on the figures and it is not appropriate to compare that for the FY 2021 withthat for the FY 2020.
(2) Financial Position
Total assets

3rd Quarter of FY 2021

Net assets

Equity ratio

Mil.¥

Mil.¥

%

46,96836,48677.1

47,35636,03475.6(As of December 31, 2021)
FY 2020(As of March 31, 2021)(Reference) Shareholder's Equity :3rd Quarter of FY 2021

36,204 Mil.¥FY 2020

35,789 Mil.¥

2.Dividend Per ShareFY 2020
FY 2021End of 1st End of 2nd End of 3rdQuarter
Quarter
Quarter
Yen
Yen
Yen―
15.00
――

17.00

Year-end
Yen
19.00

AnnualYen
34.00――0.00FY 2021(Forecasted)(Note) The forecasted dividend amounts for the FY 2021 are not determined at the present moment.

3. Forecasts of consolidated results of operations for FY 2021
(Percentages show year-on-year changes)
Net sales

FY 2021

Operating income

Ordinary income

Mil.¥

％

Mil.¥

％

Mil.¥

％

13,000―5,700―

5,700―Net income attributableto owners of the parent

Net income per share

Mil.¥

％

Mil.¥

3,900―

186.0(Note) Revisions of the forecasts of consolidated results since the latest announcement : NoIn relation to the application of ASBJ Statement No. 29 “Accounting Standard for Revenue Recognition” from thebeginning of the 1 st Quarter of FY 2021, this forecasts of consolidated results of operations for FY 2021 ispresented based on the figures after the application of ASBJ Statement No. 29. Year-on-year percentage changes
are not presented because the Company expects a significant impact on the figures and it is not appropriate tocompare that for the FY 2021 with that for the FY 2020.

*Notes: No(1) Significant changes in scope of consolidation(2) Application of particular accounts procedures to the preparation of quarterly consolidated: No

financial statement(3) Changes in accounting policies and changes or restatement of accounting estimates(i) Changes in accounting policies caused by revision of accounting standards:(ii) Changes in accounting policies other than (i):(iii) Changes in accounting estimates:: Yes: No: No: No(iv) Restatement:(4) Number of shares outstanding (common shares):(i) Number of shares outstanding at end of period (including treasury shares)
3rd Quarter of FY 2021

22,471,845 shares

FY 2020

23,671,845 shares(ii) Number of treasury shares at end of period
3rd Quarter of FY 2021

1,788,099 shares

FY 2020

1,823,066 shares(iii) Average number of shares outstanding during the term
3rd Quarter of FY 2021

21,358,613 shares

3rd Quarter of FY 2020

22,290,592 shares*Status of a quarterly review- Quarterly consolidated financial results are not subject to a quarterly review by certified public accountants or audit corporations*Explanations and other special notes concerning the appropriate use of business results forecasts- The video of the financial results briefing for the 3rd Quarter of FY 2021 will be delivered to institutional investors and analysts
via our website. The materials used in this video will be available on our website.

UNITED Consolidated Financial Statements(1) UNITED Consolidated Balance Sheetfor the 3rd Quarter of FY 2021

(Unit : Thousands of Yen)

Items of an accountFY 2020

3rd Quarter of FY 2021

(As of March 31, 2021)(As of December 31, 2021)

AmountAmountAssetsCurrent assets
Cash and deposits

13,774,158

12,962,209

Notes and accounts receivable - trade

1,129,094

1,091,996

Operational investment securities

30,953,854

30,012,225

Inventories

35,01952,430Other

228,738

846,342

Allowance for doubtful accounts
Total current assets△5,193△6,227

46,115,671

44,958,977

327,246

302,201

Non-current assets
Property, plant and equipment
Intangible assets-346,939

Other

229,447

232,008

Total intangible assets

229,447

578,947

Investments and other assets

683,735

1,128,104

Goodwill

Total non-current assets

1,240,429

2,009,253

47,356,100

46,968,231

Accounts payable - trade609,706

687,595

Short-term borrowings

100,000

100,000Current portion of long-term borrowings

71,04080,4281,415,648

1,077,847

Total assets
Liabilities
Current liabilities

Income taxes payable
Other

918,455

689,964

3,114,850

2,635,834

Long-term borrowings

107,300

89,608Deferred tax liabilities

8,098,955

7,756,688

Total non-current liabilities

8,206,255

7,846,296

11,321,106

10,482,131

Share capital

2,923,019

2,923,019

Capital surplus

2,332,513

605,336

Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Retained earnings

14,607,662

17,672,150

Treasury shares△2,638,347△2,885,457

Total shareholders' equity

17,224,847

18,315,048

18,571,825

17,621,509

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets-275,250△7,634△7,52018,564,190

17,889,239

245,955

281,81136,034,994

36,486,099

47,356,100

46,968,231(2) UNITED Consolidated Statement of Income
for the 3rd Quarter of FY 2021

(Unit : Thousands of Yen)

Items of an account

3rd Quarter of FY 2020

3rd Quarter of FY 2021

(April 1, 2020

(April 1, 2021

to December 31, 2020)

to December 31, 2021)

AmountAmountNet sales

13,859,172

10,786,850

Cost of sales

5,874,734

3,260,081

Gross profit

7,984,437

7,526,769

Selling, general and administrative expenses

2,291,350

1,913,863

Operating income

5,693,087

5,612,906

57

75

Share of profit of entities accounted for using equity method76,564

9,600

Other

15,8503,018

Total non-operating income

92,472

12,695Interest expenses

2,282

1,681

Foreign exchange losses

2,382

298

Non-operating income
Interest and dividend income

Non-operating expenses

Loss on valuation of crypto assets

-

1,722

Other

3,070

2,417

Total non-operating expenses

7,734

6,120

5,777,825

5,619,480

11,978-Gain on sale of businesses

7,000-

Total extraordinary income

18,978

-

3,592

-

Office relocation expenses

50,396-

Loss on liquidation of business

116,874-

6,138-

Ordinary income
Extraordinary income
Gain on reversal of share acquisition rights

Extraordinary losses
Loss on retirement of non-current assets

Other
Total extraordinary losses

177,002-Income before income taxes

5,619,801

5,619,480

Income taxes - current

1,441,767

1,820,761

327,357△76,802

Total income taxes

1,769,124

1,743,958

Net income

3,850,676

3,875,521

Net income attributable to owners of the parent

3,850,676

3,875,521

Income taxes - deferred(3) UNITED Consolidated Statement of Comprehensive Income
for the 3rd Quarter of FY 2021

(Unit : Thousands of Yen)

Items of an accountNet income

3rd Quarter of FY 2020

3rd Quarter of FY 2021

(April 1, 2020

(April 1, 2021

to December 31, 2020)

to December 31, 2021)

AmountAmount3,850,676

3,875,521

Valuation difference on available-for-sale securities

5,353,205△948,346

Deferred gains or losses on hedges△29,314275,250

Other comprehensive income

510114

Share of other comprehensive income of entities accounted for using equity method△23,985△1,969Total other comprehensive income

5,300,416△674,951

Comprehensive income

9,151,0923,200,570

Comprehensive income attributable to owners of the parent

9,151,092

3,200,570

Foreign currency translation adjustment