January 31, 2020

Consolidated Financial Results (Japanese Accounting Standards)
for the 3rd Quarter of FY 2019
UNITED, Inc.
Tokyo Stock Exchange
2497
http://united.jp/Tomonori Hayakawa, CEO
Takahiro Fukushima, General Manager, Corporate Administration Division
Tel. +81-3-6821-0000
Scheduled date for filing of quarterly securities report:
January 31, 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.Consolidated Financial Results for the 3rd Quarter of FY 2019 (April 1, 2019 - December 31, 2019)(Percentages show year-on-year changes)(1) Consolidated Results of Operations (Accounting Total)
Net sales

Operating income

Mil.¥％
Mil.¥％
Mil.¥
15,984
3,267
3,223
△30.3
△71.0
22,921
118.8
11,264905.7
11,239△ 10,151 million yen (－ %) for the 3rd Quarter of FY 201920,297 million yen (－ %) for the 3rd Quarter of FY 2018Earnings
Diluted earnings
per shareper shareYenYen
17.87―317.78
316.08

3rd Quarter of FY 2019
3rd Quarter of FY 2018
(Note) Comprehensive income :3rd Quarter of FY 2019
3rd Quarter of FY 2018

Profit attributable toowners of parent

Ordinary income％
△71.3
916.0

Mil.¥
402
7,317％△94.5―(2) Consolidated Financial Position
Total assets
Mil.¥
3rd Quarter of FY 201935,629(As of December 31,2019)
Fiscal Year 201857,230(As of March 31, 2019)(Reference) Capital : December 31, 2019: 27,578 million yen

Equity ratio

Net assets
Mil.¥％

27,788

77.4

40,10069.7March 31, 2019 : 39,867 million yen

2.Dividend Per Share
Record date

End of 1st End of 2nd End of 3rdquarter
quarterquarter
Yen
Yen
Yen
―
24.00
―
―
11.00
―

End ofperiod
Yen
37.00

Annualdividend
Yen
61.00

Fiscal Year 2018
Fiscal Year 2019
Fiscal Year 2019――
(expected)(Note) Revisions of the forecasts of consolidated results since the latest announcement : None

3.Consolidated Earnings Forecast for Fiscal Year Ending March 2020 (April 1, 2019 to March 31, 2020)(Percentages show year-on-year changes)
Profit attributable toNet sales
Operating incomeOrdinary income
owners of parent
Mil.¥％
Mil.¥％
Mil.¥％
Mil.¥％
Fiscal Year 201920,500～21,500△25.7～△22.0

5,000

△54.9

4,900

Note: Revisions of the forecasts of consolidated results since the latest announcement : None

△55.7

1,200～1,300△82.9～△81.5

*Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation) : Yes
Newly consolidated subsidiaries : None
Subsidiaries excluded from consolidation : COINAGE, Inc.
(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 standard:(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 stock):(i) Number of shares outstanding at end of period (including treasury stock)
As of December 31, 2019 :
23,671,845 shares
As of March 31, 2019 :23,671,845 shares(ii) Number of treasury stock at end of period
As of December 31, 2019 :1,323,045 shares
As of March 31, 2019 :
622,995 shares(iii) Average number of shares outstanding during the term
3rd Quarter of FY 2019 :
22,509,714 shares
3rd Quarter of FY 2018 :23,025,695 shares*Status of a quarterly review- These Consolidated Financial Results are not subject to quarterly review procedures based on the Financial Instruments and Exchange Act.

*Explanations and other special notes concerning the appropriate use of business performance forecasts- We will hold a quarterly results briefing for institutional investors and analysts on February 3, 2020.
For material that are distributed in this briefing, it will be posted on our website.

UNITED Consolidated Financial Statements(1) UNITED Consolidated Balance Sheets
for the 3rd Quarter of FY 2019
Items of an account

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Operational investment securities
Inventories
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
Long-term loans payable
Bonds payable
Deferred tax liability
Total 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
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets(Unit : Thousands of Yen)FY2018(As of March 31, 2019)

3rd Quarter of FY2019(As of December 31,2019)

AmountAmount8,822,421
1,781,226
39,190,609
70,644
1,344,506(5,383)
51,204,024

7,032,400
1,680,545
24,123,031
125,799
920,889(5,535)33,877,130

544,967

465,795

4,125,545
432,269
4,557,814
923,305
6,026,088
57,230,112

143,602348,373
491,975
794,833
1,752,604
35,629,734

1,414,107
100,000
187,468－
3,946,314
30,251
917,577
6,595,718

1,172,692
100,000
162,690
50,00075,4937,211
869,9822,438,069

334,758－
10,198,960
10,533,718
17,129,436

202,020
175,000
5,025,731
5,402,751
7,840,820

2,923,019
2,385,813
10,954,274(892,077)
15,371,029

2,923,019
2,332,513
10,257,978(1,884,315)
13,629,195

24,501,737(5,216)24,496,520
180,165
52,95940,100,675
57,230,112

13,958,613(8,854)
13,949,759
209,958－
27,788,913
35,629,734

(2) UNITED Consolidated Statements of Income
for the 3rd Quarter of FY 2019
Items of an accountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividend 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
Gain on liquidation of subsidiaries and affiliates
Gain on sales of shares of subsidiaries and associates
Gain on sale of businesses
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on sales of shares of subsidiaries and associates
Loss on liquidation of subsidiaries and associates
Office relocation expenses
Office transfer expenses
Burden charge payment
Other
Total extraordinary losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

3rd Quarter of FY2018(April 1,2018
to December 31,2018)
Amount(Unit : Thousands of Yen)
3rd Quarter of FY2019(April 1,2019
to December 31,2019)
Amount22,921,290
8,146,760
14,774,530
3,509,751
11,264,779

15,984,974
8,907,412
7,077,561
3,810,157
3,267,403

425
2,309
4,6297,364

206
901
6,307
7,416

2,007
7,710
11,774
11,23632,730
11,239,414

3,606
19,42013,111
15,09051,2293,223,590

7,768
42,194－－1,400
51,363

1,818－
75,52010,0002,000
89,33858,544－106,291－－－
134,783－
1,774
301,394
10,989,382
3,732,352
60,036
3,792,389
7,196,993(120,155)
7,317,149

613
2,873,120
19,655
300,775
70,69745,262－
48,284
5,096
3,363,505(50,576)
92,114(537,495)(445,381)
394,804(7,542)
402,347

(3) UNITED Consolidated Statements of Comprehensive Income
for the 3rd Quarter of FY 2019
Items of an account

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

3rd Quarter of FY2018(April 1,2018
to December 31,2018)
Amount(Unit : Thousands of Yen)
3rd Quarter of FY2019(April 1,2019
to December 31,2019)
Amount7,196,993

394,804

13,129,686(29,027)
13,100,658
20,297,652(10,543,123)(3,638)(10,546,761)(10,151,956)

20,417,807(120,155)(10,144,413)(7,542)