August 5, 2020

Consolidated Financial Results(Japanese Accounting Standards)
for the 1st Quarter of FY 2020
UNITED, Inc.
Tokyo Stock Exchange
2497
https://united.jp/Tomonori Hayakawa, CEOYuji Yamashita, Executive Officer and General Manager of Corporate Administration Division
Tel. +81-3-6821-0000
Scheduled date for filing of quarterly securities report:
August 5, 2020
Scheduled date of commencement of dividend payment:―
Supplementary documents for quarterly results:
YES
Quarterly results briefing:
YES(For securities analysts and institutional investors)
Company name:
Stock exchange listing:Stock code:
URL:Representative:
Contact:(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

1st Quarter of FY 2020
1st Quarter of FY 2019
(Note) Comprehensive income :1st Quarter of FY 2020
1st Quarter of FY 2019

Operating income

Net income attributable toowners of the parent

Ordinary income

Mil.¥
7,994
6,083%
Mil.¥
%
Mil.¥
31.4
5,300
212.9
5,303
1,694
△86.3
1,662
△61.2
4,724 million yen ( - %) for the 1st Quarter of FY 2020
△4,663 million yen ( - %) for the 1st Quarter of FY 2019
Net income
Net income
per share (basic)
per share (diluted)
Yen
Yen
165.85―33.4433.44%
218.9△86.5(2) Financial Position
Total assets
Mil.¥
1st Quarter of FY 2020
40,110(As of June 30, 2020)
Fiscal Year 201933,592(As of March 31,2020)(Reference) Capital : June 30, 2020 : 30,993 million yen

Net assets

Equity ratio
Mil.¥%

31,211

77.3

26,532

78.3

March 31, 2020 : 26,313 million yen

2.Dividend Per Share
End of 1st End of 2nd End of 3rdquarter
quarterquarterYen
Yen
Yen
Fiscal Year 2019
―
11.00
―
Fiscal Year 2020―
Fiscal Year 2020 (expected)――(Note) Revisions to dividend forecasts published most recently : NoneYear-end

Annual

Yen
2.00

Yen
13.00

―

―

3.Forecasts of consolidated results of operations for FY2020
The Company does not give forecasts of consolidated results of operations for FY2020
as they are difficult to project due to numerous uncertainties affecting earnings.

Mil.¥3,706764

%
385.0
△90.8

*Notes(1) Significant changes in scope of consolidation during the period (Changes in scope of consolidation of specified subsidiaries) : None
(2) Application of particular accounts procedures to the preparation of quarterly consolidated financial statement : None
(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:(iv) Restatement:

None
None
None
None

(4) Number of shares outstanding (common shares):(i) Number of shares outstanding at end of period (including treasury shares)
As of June 30, 2020:
23,671,845 shares
As of March 31, 2020:
23,671,845 shares(ii) Number of treasury shares at end of period
As of June 30, 2020:
1,323,045 shares
As of March 31, 2020:
1,323,045 shares(iii) Average number of shares outstanding during the term
1st Quarter of FY 2020:
22,348,800 shares
1st Quarter of FY 2019:22,854,282 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 1st Quarter of FY2020 will be delivered to institutional investors and analysts
via our website. The materials used in this video will be available on our website.

UNTIED Consolidated Financial Statements(1) UNITED Consolidated Balance Sheets
for the 1st Quarter of FY 2020
Items of an account

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Operational investment securities
Inventories
Accounts receivable - otherDerivatives
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Current portion of bonds
Income taxes payable
Provision for point card certificates
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Deferred tax liabilityTotal non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
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
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Total net assets
Total liabilities and net assets(Unit : Thousands of Yen)FY2019(As of March 31, 2020)

1st Quarter of FY2020(As of June 30, 2020)

AmountAmount

8,381,660
1,693,870
20,992,218
38,316
16,96442,251
843,118(8,069)32,000,401

8,372,166
1,326,968
22,457,540
63,9405,514,000

431,514

417,430

114,881
361,384
476,266
684,064
1,591,845
33,592,246

86,161
373,793459,954696,354
1,573,739
40,110,258

855,717
100,000
50,00071,040150,418
5,063
892,096
2,124,336

859,186
100,000
71,0401,352,942
3,923
922,7173,309,809

175,000
178,340
4,582,458
4,935,798
7,060,134

160,580
5,428,246
5,588,826
8,898,6362,923,019
2,332,513
11,259,492(1,884,315)
14,630,709

2,923,019
2,332,513
14,921,446(1,884,315)
18,292,663

11,662,068
29,314(8,368)
11,683,014
218,388
26,532,112
33,592,246

12,709,201

804,431(2,530)38,536,518--(8,386)
12,700,814
218,144
31,211,622
40,110,258

(2) UNITED Consolidated Statements of Income
for the 1st Quarter of FY 2020
Items of an account(Unit : Thousands of Yen)
1st Quarter of FY2020(April 1, 2020
to June 30, 2020)

1st Quarter of FY2019(April 1, 2019to June 30, 2019)
AmountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Gain on forfeiture of unclaimed dividends
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Office transfer expensesBurden charge payment
Other
Total extraordinary losses
Income before income tax
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of the parent

Amount

6,083,319
3,062,491
3,020,827
1,326,568
1,694,259

7,994,923
1,866,778
6,128,144
827,2395,300,905

901
3,943
4,845

6,251
6,251

1,305
16,764
9,002
9,086
36,158
1,662,945

1,036
1,525
949
510
4,021
5,303,135

-

8,673
8,673

150
99,166
7,067
48,2845,096
159,765
1,503,180
316,467
429,972
746,439756,740(7,542)
764,283

3,211
3,211
5,308,597
1,268,322
333,622
1,601,945
3,706,651
3,706,651

(3) UNITED Consolidated Statements of Comprehensive Income
for the 1st Quarter of FY 2020
Items of an account

1st Quarter of FY2019(April 1, 2019
to June 30, 2019)
Amount

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests(Unit : Thousands of Yen)
1st Quarter of FY2020(April 1, 2020
to June 30, 2020)
Amount756,740

3,706,651(5,416,011)(4,592)(5,420,604)(4,663,864)

1,025,030(29,314)(18)
22,101
1,017,799
4,724,451(4,656,321)(7,542)

4,724,451-