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.

UNITED, Inc.
Consolidated Financial Report For the 3rd Quarter of FY 2022
(Japanese Accounting Standards)
February 8, 2023
Company name:
Stock code:
Representative:
Contact:
Tel:

UNITED, Inc.
Stock exchange listing:
2497
URL:
Tomonori Hayakawa, CEO
Yuji Yamashita, Director and General Manager of Corporate Administration Division+81-3-6821-0000

Scheduled date for filing of quarterly securities report:
Scheduled date of commencement of dividend payment:
Supplementary documents for quarterly results:
Quarterly results briefing:

Tokyo Stock Exchange
https://united.jp/February 8, 2023―
YesYes( For institutional investors and securities analysts)(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

Operating profit

Profit attributableto owners of the parent

Ordinary profit

Mil.¥%

Mil.¥%

Mil.¥%

Mil.¥%

3rd Quarter of FY 2022

10,175△5.74,933

△12.1

4,948

△11.93,591△7.3

3rd Quarter of FY 2021

10,786―

5,612―

5,619―

3,875―(Note) Comprehensive income :3rd Quarter of FY 2022

△1,157 Mil.¥ (―)

3rd Quarter of FY 2021

3,200 Mil.¥ (△65.0%)

Profitper share (basic)

Profitper share (diluted)
YenYen3rd Quarter of FY 2022

180.93180.86

3rd Quarter of FY 2021

181.45181.31

Due to the adoption of ASBJ Statement No. 29 “Accounting Standard for Revenue Recognition” in the FY2021,
this Forecasts of consolidated results of operations for FY2021 is presented based on the figures after theapplication of ASBJ Statement No. 29. Year-on-year percentage changes in net sales is not presented because
the Company expects a significant impact on the figure of net sales and it is not appropriate to compare that for
the FY2021 with that for the FY2020.

(Notes)(2) Financial Position
Total assets

3rd Quarter of FY 2022
(As of December 31, 2022)

Net assets

Equity ratio

Mil.¥

Mil.¥

%

33,481

27,37181.1

38,70130,28877.7

FY 2021(As of March 31, 2022)(Reference) Shareholder's Equity :3rd Quarter of FY 2022

27,143 Mil.¥FY 202130,064 Mil.¥

2.Dividend Per Share
End of 1stQuarterEnd of 2ndQuarterEnd of 3rdQuarter

YenYenYenYenYen

FY 2021

―

17.00

―

20.00

37.00

FY 2022

―

20.00

―
―

―

FY 2022(Forecasted)Year-end

Annual(Note) Revisions to dividend forecasts published most recently : None
The forecasted dividend amounts for the FY 2022 are not determined at the present moment.

3. Forecasts of consolidated results of operations for FY 2022
(Percentages show year-on-year changes)

Net sales

FY 2022

Operating profitProfit attributable toowners of the parent

Ordinary profit

Profit per shareMil.¥％

Mil.¥

％

Mil.¥

％

Mil.¥

％

Mil.¥

12,800

0.7

5,800

1.1

5,800

0.7

4,200

9.8

208.00(Note) Revisions of the forecasts of consolidated results since the latest announcement : None*Notes(1) Significant changes in scope of consolidation：

No(2) Application of particular accounts procedures to the preparation of quarterly consolidated：

No(i) Changes in accounting policies caused by revision of accounting standards：

Yes(ii) Changes in accounting policies other than (i)：No(iii) Changes in accounting estimates：

No(iv) Restatement：

Nofinancial statement(3) Changes in accounting policies and changes or restatement of accounting estimates(4) Number of shares issued (common stock)(i) Number of shares issued at end of the year

3rd Quarter of FY 2022

20,756,345 shares

FY 2021

20,756,345 shares

3rd Quarter of FY 2022

1,217,899 shares

FY 2021587,199 shares

3rd Quarter of FY 2022

19,851,442 shares

3rd Quarter of FY 2021

(including treasury shares)(ii) Number of treasury shares issued
at end of the year(iii) Number of average shares outstanding
during the term

*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 2022 will be delivered to institutional investors and analysts
via our website. The materials used in this video will be available on our website.

21,358,613 shares

UNITED Consolidated Financial Statements(1) UNITED Consolidated Balance Sheetfor the 3rd Quarter of FY 2022
Items of an account(Unit : Thousands of Yen)
3rd Quarter of FY 2022
(As of December 31, 2022)
AmountFY 2021(As of March 31, 2022)
AmountAssetsCurrent assets
Cash and deposits

12,165,526

12,710,104

Notes and accounts receivable - trade

1,347,244

998,527

Operational investment securities

18,789,981

13,309,919

Inventories

69,72770,747

Derivatives

1,471,624

1,740,123

Other340,835

293,108

Allowance for doubtful accounts△5,411△4,911

34,179,529

29,117,620

292,599

326,444

Goodwill

327,664

963,191

Other

234,613287,982

Total intangible assets

562,278

1,251,173

3,088,403

1,890,059

578,244896,183

3,666,648

2,786,243

4,521,526

4,363,861

38,701,056

33,481,482

Accounts payable - trade879,338

843,513

Short-term borrowings

100,000

100,000

Current portion of long-term borrowings

69,17855,9101,103,564

869,969

660,077

737,082

2,812,158

2,606,475

Long-term borrowings

75,766

65,340

Deferred tax liabilities

5,524,606

3,438,274

Total non-current liabilities

5,600,372

3,503,614

8,412,531

6,110,089

Share capital

2,923,019

2,923,019

Capital surplus

379,270

377,844

Retained earnings

14,979,955

17,775,365

Treasury shares△983,344△1,948,524

Total shareholders' equity

17,298,901

19,127,705

Valuation difference on available-for-sale securities

9,601,720

5,497,626

Deferred gains or losses on hedges

3,163,747

2,518,621

Total accumulated other comprehensive income

12,765,468

8,016,248

Share acquisition rights

224,154

225,438

Non-controlling interests

―

2,000

30,288,524

27,371,392

38,701,056

33,481,482

Total current assets
Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets
Derivatives
Other
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities

Income taxes payable
Other
Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

(2) UNITED Consolidated Statement of Income
for the 3rd Quarter of FY 2022
Items of an account(Unit : Thousands of Yen)
3rd Quarter of FY 2022
(April 1, 2022
to December 31, 2022)
Amount3rd Quarter of FY 2021
(April 1, 2021
to December 31, 2021)
AmountNet sales

10,786,850

10,175,064

Cost of sales

3,260,081

3,144,859

Gross profit

7,526,769

7,030,205

Selling, general and administrative expenses

1,913,863

2,096,911

Operating profit

5,612,906

4,933,293

75

63

Share of profit of entities accounted for using equity method

9,600

19,689Gain on forfeiture of unclaimed dividends

2,245

3,252

772

7,531

12,69530,537

1,681

1,554

Commission expenses

200

1,589

Foreign exchange losses

298

203

Loss on valuation of crypto assets

1,722

6,932

Expense related to restricted stock

―

3,646

Other

2,217

1,065

Total non-operating expenses

6,120

14,9925,619,480

4,948,838

Transfer of rights income―

350,000

Other―

9,522

Total extraordinary income―

359,522

Loss on retirement of non-current assets

―

2,674

Office relocation expenses

―

1,320

Total extraordinary losses

―

3,994

Profit before income taxes

5,619,480

5,304,366

Income taxes - current

1,820,761

1,711,897

Income taxes - deferred△76,802798

Total income taxes

1,743,958

1,712,695

Profit3,875,521

3,591,671

Profit attributable to owners of parent

3,875,521

3,591,671

Non-operating income
Interest and dividend income

Other
Total non-operating income
Non-operating expenses
Interest expenses

Ordinary profit
Extraordinary income

Extraordinary losses

(3) UNITED Consolidated Statement of Comprehensive Income
for the 3rd Quarter of FY 2022

(Unit : Thousands of Yen)

Items of an account

Profit3rd Quarter of FY 2021

3rd Quarter of FY 2022

(April 1, 2021

(April 1, 2022

to December 31, 2021)

to December 31, 2022)

AmountAmount3,875,521

3,591,671△948,346△4,104,093

275,250△645,126

114―△1,969―△674,951△4,749,220

Comprehensive income

3,200,570△1,157,549

Comprehensive income attributable to owners of parent

3,200,570△1,157,549

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