(Note) This English translation of the summary of the financial statement was prepared for reference only.
In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.

Summary of Consolidated Financial Statements
For the Fiscal Year Ended March 31, 2022 (Japanese GAAP)May 13, 2022
UT Group Co., Ltd.
Stock exchange listing: Tokyo2146
URL: http://www.ut-g.co.jp
Yoichi Wakayama, President, Representative Director & CEO
Takahito Yamada, Division Manager, General Affairs Division
TEL: 03-5447-1710
Scheduled date of ordinary general meeting of shareholders: June 25, 2022
Scheduled date of cash dividend payment:
June 27, 2022
Scheduled date of filing securities report:
June 27, 2022
Supplemental material for the financial results provided:
Yes (uploaded on the Company’s website on May 13, 2022)
Results briefing for the period under review provided:
Yes (to be held on May 16, 2022 for institutional investors and analysts)
Listed company name:
Code number:
Representative:
For inquiries:(All amounts are rounded down to the nearest million yen.)
1. Consolidated Results for FY3/2022 (April 1, 2021 – March 31, 2022)(Percentages indicate year-on-year changes.)(1) Consolidated Earnings Results
Profit attributable toSales
Operating profit
Ordinary profit
owners of the parent
Million yen%
Million yen%
Million yen%
Million yen%
FY3/2022
FY3/2021

156,769
115,131

36.2
13.8

6,257
7,163

(12.6)(10.9)

5,954
7,191

(17.2)(11.4)

3,140(27.0)

4,299

(4.6)

(Note) Comprehensive income: FY3/2022 3,536 million yen (-18.3%); FY3/2021 4,326 million yen (-4.6%)
Net profit
per share

Net profit
Net profit to equity
per share, diluted
Yen
%

Yen

Ordinary profit to Operating profit tototal assets
sales
%
%

FY3/2022

77.81

―

16.2

10.2

4.0

FY3/2021

106.53

―

25.3

16.2

6.2

(Reference) Equity income of equity-method affiliates: FY3/2022 -247 million yen; FY3/2021 ― million yen(2) Consolidated Financial Position
Total assets

Net assets

Net assets per share

Equity ratio

Million yen

Million yen%

Yen

FY3/2022

64,107

21,23230.8

489.28

FY3/2021

52,66620,19836.2

472.90(Reference) Equity capital: FY3/2022 19,748 million yen; FY3/2021 19,087 million yen(3) Consolidated Cash Flows

Million yen

Million yen

Million yen

Cash and cash
equivalents at end of
the period
Million yen

FY3/2022

2,279(6,300)4,554

25,827

FY3/2021

6,654(2,413)

2,613

25,266

Cash flow fromoperating activities

Cash flow frominvesting activities-1-

Cash flow fromfinancing activities

(Note) This English translation of the summary of the financial statement was prepared for reference only.
In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.

2. Cash Dividends

Dividend per share
Total

Total amount ofdividends

Payout ratio(consolidated)

Dividends to net
assets (consolidated)

1Q-end2Q-end3Q-endFY-end

Yen

Yen

Yen

Yen

Yen

Million yen%%

FY3/2021

0.00

0.00

0.00

66.00

66.00

2,663

62.0

15.7

FY3/2022

0.00

0.00

0.00

24.00

24.00

968

30.8

5.0

FY3/2023 (Plan)

―

―

―

―

―

―

(Notes) Breakdown of the year-end dividend for FY3/2022: common dividend 24.00 yen
The dividend forecast for FY3/2023 is undecided.
3. Consolidated Forecasts for FY3/2023 (April 1, 2022 – March 31, 2023)(Percentages indicate year-over-year changes.)
Sales

Operating profit%

Million yen%

180,000 14.8

150,000―

Million yen

Full year

EBITDA

Million yen%

7,700 23.1

Ordinary profit

Profit attributable toowners of the parent

Profit per share%

Million yen%

Yen

7,500 26.0

3,200

1.9

79.28

Million yen

EBITDA = Operating profit + Depreciation (Property, plant and equipment, and Intangible assets)+ Amortization + Stock-based compensation expenses* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scope of
consolidation) : Yes
Two new companies: Progress Group Co., Ltd. (absorbed by UT Progress Co., Ltd.) and Fujitsu FSAS Creative Inc.
(changed the company name to UT FSAS Creative Inc.)
Note: While not applicable to “Changes in significant subsidiaries,” Progress Co., Ltd. (changed the company name to UTProgress Co., Ltd.) has been included in scope of consolidation since the first quarter of the current fiscal year.
(2) Changes in accounting policies and accounting-based estimates, and restatements(a) Changes in accounting policies due to revisions in accounting standards and others:(b) Changes in accounting policies other than (a) above:(c) Changes in accounting-based estimates:(d) Restatements:

Yes
No
No
No

(3) Number of outstanding shares (common stock)(a) Number of shares outstanding at the end of the period (including treasury shares):
As of March 31, 2022
40,363,067
As of Mar. 31, 2021
40, 363,067(b) Number of treasury shares at the end of the period:
As of March 31, 2022
180
As of Mar. 31, 2021
154(c) Average number of shares outstanding during the period:
FY3/2022
40,362,888
FY3/2021
40,362,915-2-(Note) This English translation of the summary of the financial statement was prepared for reference only.
In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.

(Reference) Summary of the Non-Consolidated Results

Non-Consolidated Results for FY3/2022 (April 1, 2021 – March 31, 2022)(1) Non-consolidated Earnings Results
Sales
Million yen(Percentages represent year-on-year changes.)

Operating profit
Ordinary profit% Million yen% Million yen

Net profit% Million yen%

FY3/2022

10,642

(7.1)

5,151

(22.6)

4,959(24.2)

4,850(26.0)

FY3/2021

11,451

6.3

6,658

0.4

6,545

(0.8)

6,551

1.2

Net profit
per share
Yen

Net profit
per share, diluted
Yen

FY3/2022

120.17―

FY3/2021

162.30―(2) Consolidated Financial Position
Total assets

Net assets

Net assets per share

Equity ratio

Million yen

Million yen%

Yen

FY3/2022

45,79319,04840.3

457.05

FY3/2021

31,927

16,86450.9

402.88(Reference) Equity capital: FY3/2022 18,447 million yen; FY3/2021 16,261 million yen* The Summary of Consolidated Financial Statements is not subject to be reviewed by certified public accountants andauditing firms.
* Explanation concerning appropriate use of earnings forecasts and other notes(Cautionary statement with respect to forecasts of future performance and other items)
Forecasts regarding future performance and other forward-looking statements in these materials are based on certain
assumptions judged to be valid and information currently available to the Company. Actual performance may differ
significantly from these forecasts due to risks and uncertain factors concerning future economic conditions, market
fluctuations, etc.
(How to receive the supplemental materials for the financial results and the results briefing video)
The results briefing video and the supplemental materials for the financial results are scheduled to be uploaded on the
Company’s website on May 13, 2022.

-3-

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

1. Qualitative Information on Financial Results for Current Fiscal Year
(1) Overview of Results of Operations for Current Fiscal YearIn FY3/2022 (April 1, 2021 - March 31, 2022), Japan's economy remained to be in a severe situation due to the spreadof COVID-19 but the progress of vaccination and measures to prevent infection contributed to a gradual spread of theeconomic recovery. However, since the beginning of 2022, a rebound of COVID-19 infection cases caused by the
Omicron variant threatened prospects for economic normalization resulting from containment of the COVID-19
pandemic. In February, Russia's invasion of Ukraine exposed new geopolitical risks, and the rise in resource prices andits impact through the supply chain needed to be carefully monitored. In the meantime, the jobs-to-applicants ratio in
the production process rose to 1.92 times in March, and the manufacturing employment situation, including recruitment,
was firm.
Concerning the environment surrounding UT Group, in the automotive-related sector, some major automobile
manufacturers made production adjustments due to a shortage of materials and components, caused by the lockdown
in some ASEAN countries and the global shortage of semiconductors. However, personnel demand was firm as demand
for finished vehicles remained strong and the production normalization is expected. Meanwhile, in the semiconductor
and electronics components sector, production of semiconductor manufacturing equipment and devices is expanding
due to an increase in demand for semiconductors for automobiles and demand related to the next-generation wirecommunication standard 5G, and the global shortage of semiconductors worldwide further accelerated, leading to atight semiconductor supply and demand. Semiconductor manufacturing equipment manufacturers and semiconductor
manufacturers strived to rapidly boost their production capacity, which resulted in a robust demand for personnel.
Under these circumstances, UT Group has been advancing its Fourth Medium-term Business Plan (FY3/2021 FY3/2025), announced on May 20, 2020. With a medium-term target of “creating a diversity & inclusion workstyleplatform,” the following three growth strategies have been promoted: One-stop Strategy to provide personnel to large
manufacturers; Area Platform Strategy; and Solution Strategy. In the core business of worker dispatch to large
manufacturers, the Company aims to enhance development of manufacturing engineers so as to expand its businessdomain and raise its share in all processes at client factories. the Company also seeks to establish a stable employment
environment in local workplaces via alliances with and M&As of local major companies, and to build a career platform
covering each area. The Company further expands and strengthens its business base by supporting personnel
mobilization of large corporate groups.
In FY3/2022, as a result of aggressive hiring activities to respond to the rapidly recovering demand for personnel since
the second half of FY3/2021, UT Group hired 17,662 persons in its domestic operations. In May 2021, the Company
acquired all shares of Progress Group, Inc. (changed company name to UT Progress Co., Ltd.), which fully owns
Progress Co., Ltd., and of SURI-EMU Corp (changed company name to UT SURI-EMU Co., Ltd.), which fully owns
SURI-EMU Chubu Co., Ltd., SURI-EMU Tokai Co., Ltd. and SURI-EMU Staff Co., Ltd. These companies are local worker
dispatch companies mainly in Aichi Prefecture. They have become consolidated subsidiaries of UT Group. In October
2021,UT Group newly consolidated Fujitsu FSAS Creative Inc., a worker dispatch company of the Fujitsu Group(changed company name to UT FSAS Creative Co., Ltd.) to promote the Solution Strategy based on the Medium-term
Business Plan. As a result of these efforts, the number of domestic technical employees has increased 7,900 on a net
basis from the end of FY3/2021 to a record high, and sales have increased significantly. On the profit side, however, adecline in profit was caused by a one-off increase in hiring-related expenses, as hiring activities were strengthened toaccelerate sales growth.
As a result, in FY3/2022, UT Group recorded net sales of 156,769 million yen (up 36.2% year-on-year from 115,131
million yen), operating profit of 6,257 million yen (down 12.6% from 7,163 million yen), ordinary profit of 5,954 million
yen (down 17.2% from 7,191 million yen), and profit attributable to owners of the parent of 3,140 million yen (down
27.0% from 4,299 million yen). The number of technical employees was 45,386 (up 8,374 from 37,012 a year ago).

-1-

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

The operating results of each business segment are summarized as follows:(Manufacturing Business)
In the Manufacturing Business, order booking was favorable as major automobile manufacturers were expected tonormalize their production despite their continued production adjustments and the delay in recovery of production, andas personnel demand continued to be strong in the semiconductor and electronic component-related sector. In order to
respond quickly to the strong personnel demand of client companies, the segment carried out aggressive hiring activities
and greatly increased the number of technical employees. In addition, with the aim of deepening and expanding thearea career platforms, six companies of two local worker dispatch groups, centered in Aichi Prefecture, became UTGroup’s consolidated subsidiaries. In May 2021, UT Group acquired all shares of Progress Group, Inc. (changed
company name to UT Progress Co., Ltd.), which fully owned Progress Co., Ltd., and of SURI-EMU Corp (changed
company name to UT SURI-EMU Co., Ltd.), which fully owned SURI-EMU Chubu Co., Ltd., SURI-EMU Tokai Co., Ltd.
and SURI-EMU Staff Co., Ltd. These acquisitions contributed to an increase in sales.
On the cost side, SG&A expenses increased due to the strategic investment in hiring-related expenses and an increasein personnel expenses associated with the new consolidation.
As a result, in FY3/2022, the segment recorded net sales of 104,984 million yen (up 51.6% year-on-year from 69,252
million yen) and segment profit of 2,628 million yen (down 23.5% from 3,437 million yen), and the number of technicalemployees was 36,844 (up 6,888 from 29,956 a year ago). Excluding Green Speed Joint Stock Company, Green Speed
Co., Ltd., and Hoang Nhan Company Limited, which were newly consolidated subsidiaries in the fourth quarter of
FY3/2021, the domestic segment recorded net sales of 97,803 million yen (up 44.9% from 67,503 million yen) andsegment profit of 2,637 million yen (down 22.1% from 3,385 million yen) while the number of technical employees was
23,094 (up 6,414 from 16,680).
(Solution Business)
In the Solutions Business, in addition to the increase in operations related to the production of automotive batteries
along with the worldwide expansion of electric vehicle (EV) production, a new contract project of In-house Solutions®
(a full-time employee transfer-type contract) for a major corporate group started in July 2021 and Fujitsu FSAS Creative
Inc., which was a worker dispatch company of the Fujitsu Group, was newly consolidated and changed company nameto UT FSAS Creative Co., Ltd. in October 2021. These resulted in an increase in technical employees and sales.
Meanwhile, hiring-related expenses increased due to the strengthening of hiring of technical employees in line with thefirm growth in personnel demand, despite some impacts from a shortage of semiconductors and an insufficient
procurement of materials and components.
As a result, in FY3/2022, the segment recorded net sales of 35,035 million yen (up 17.9% year-on-year from 29,717
million yen), segment profit of 1,168 million yen (down 10.8% from 1,309 million yen), and the number of employees of
5,852 (up 1,383 from 4,469 a year ago).
(Engineering Business)
In the Engineering Business, mainly leading semiconductor manufacturing equipment manufacturers andsemiconductor manufacturers increased demand for field engineers. UT Group resumed the “One UT” program that
supports career change from manufacturing operator to engineer, which had been difficult to operate due to the spreadof COVID-19 in the previous fiscal year. In addition, the fourth "Technology Skill Development Center," a specialized
training facility for developing semiconductor manufacturing equipment engineers, has been opened in Osaka tostrengthen the development and production capabilities of semiconductor manufacturing equipment engineers. In
response to the growing demand in the field of construction engineers, UT Group focused on hiring and rapid assignmentof technical employees and increased sales. On the cost side, hiring-related expenses increased due to thestrengthening of the hiring of technical employees to meet the strong demand for personnel.
-2-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

As a result, in FY3/2022, the segment recorded net sales of 16,792 million yen (up 3.5% year-on-year from 16,218
million yen) and segment profit of 2,485 million yen (up 2.2% from 2,431 million yen), while the number of technicalemployees was 2,690 (up 103 from 2,587 a year ago).
(2) Overview of Financial Position for Current Fiscal Year
(Assets)
Current assets at the end of the current fiscal year increased by 5,768 million yen from the end of the previous fiscal
year to 49,748 million yen. This was mainly due to an increase in cash and deposits of 560 million yen and a 4,669
million yen increase in notes and accounts receivable – trade. Non-current assets amounted to 14,359 million yen, an
increase of 5,672 million yen from the end of the previous fiscal year. This was mainly due to increases of 1,726 million
yen in goodwill, 848 million yen in other of intangible assets through M&As, and a 1,518 million yen increase in softwarein progress through an investment to system construction of UT Group.
As a result, total assets increased by 11,440 million yen from the end of the previous fiscal year to 64,107 million yen.

(Liabilities)
Current liabilities at the end of the current fiscal year increased by 2,903 million yen from the end of the previous fiscal
year to 25,467 million yen. This was mainly due to a decrease in notes and accounts payable - trade of 2,236 million
yen, and increases in accrued expenses of 1,999 million yen, current portion of long-term borrowings of 1,320 and
accrued consumption taxes of 1,102 million yen. Non-current liabilities amounted to 17,408 million yen, an increase of
7,503 million yen from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowingsof 6,826 million yen.
In sum, total liabilities were 42,875 million yen, up 10,406 million yen from the end of the previous fiscal year.

(Net assets)
Net assets as of the end of the current fiscal year were 21,232 million yen, up 1,034 million yen from the end of theprevious fiscal year. This was mainly due to the recognition of profit attributable to owners of parent of 3,140 million yen,
an increase in non-controlling interests of 375 million yen, and dividend payments from surplus of 2,663 million yen.
As a result, the equity ratio was 30.8%, compared to 36.2% at the end of the previous fiscal year.

-3-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(3) Overview of Cash Flows for Current Fiscal Year
(Cash flows from operating activities)
Cash flow provided by operating activities amounted to 2,279 million yen (compared to 6,654 million yen provided in theprevious fiscal year). This was mainly attributable to the recording of net profit before income taxes of 5,235 million yen,despite a 2,815 million yen in income taxes paid.
(Cash flow from investing activities)
Cash flow used by investing activities was 6,300 million yen (compared to 2,413 million yen used in the previous fiscal
year), mainly due to 2,955 million yen in payments for purchase of shares of subsidiaries resulting in change in scopeof consolidation, 1,445 million yen in payments for purchase of intangible assets, and 1,415 million yen in payments forpurchase of shares of subsidiaries and associates.
(Cash flow from financing activities)
Cash flow provided by financing activities totaled 4,554 million yen (compared to 2,613 million yen provided in theprevious fiscal year), mainly due to 10,630 million yen in proceeds from long-term loans payable, which more than offset
3,301 million yen in repayments of long-term loans payable and 2,665 million yen in dividend payment.

(Reference) Cash flow information
FY3/2022
Equity ratio (%)

30.8

Equity ratio, at market value (%)

195.5

Ratio of interest-bearing debts to cash flow (%)

873.2

Interest coverage ratio (times)

42.0

Equity ratio: Shareholders’ equity / Total assets
Equity ratio, at market value: Market capitalization / Total assets
Ratio of interest-bearing debts to cash flow: Interest-bearing debts / Cash flow
Interest coverage ratio: Cash flow / Interests paid
(Notes)1) All indicators above are calculated using the consolidated results.
2) Total market capitalization is calculated using the .
3) The cash flow stated above uses cash flow from operating activities.
4) Interest-bearing debts cover all debt on the consolidated balance sheet for which interest is paid.

-4-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(4) Outlook for Next Fiscal Year
Concerning the future business environment, the supply and demand balance for human resources in Japan is expected
to remain tight due to the shortage of human resources in the manufacturing sector despite the ongoing concerns suchas about resource price hikes and inflation.
In light of the above situation, we have decided to revise our earnings targets from FY3/2023 to FY3/2025, anticipating
sufficient opportunities to further expand our share of existing businesses by continuing to promote the three businessstrategies of the Fourth Medium-term Business Plan. We will strive to achieve the plan targets by providing services
that meet the corporate personnel needs, while enhancing our support for career formation and our hiring capabilities
in order to continue to be selected by job seekers more than ever before.
In sum, as for forecasts for FY3/2023, we are projecting consolidated net sales of 180,000 million yen (up 14.8% fromthe previous fiscal year), EBITDA of 15,000 million yen, operating profit of 7,700 million yen (up 23.1%), ordinary profitof 7,500 million yen (up 26.0%), and net profit attributable to owners of the parent of 3,200 million yen (up 1.9%).
If EBITDA 15,000 million yen is realized, the conditions for the exercise of the stock acquisition rights (performancelinked acquisition rights) announced on May 20, 2020 will be met, and 5,540 million yen will be recorded as stock-based
compensation expenses in the consolidated income statement of FY3/2023.
(Notes)1) Please see the “Notice of Revision of Earnings Targets in the Fourth Medium-term Business Plan” disclosed today
for details about revision of earnings targets from FY3/2023 to FY3/2025.
2) EBITDA = Operating profit + Depreciation (Property, plant and equipment, and Intangible assets) + Amortization+
Stock-based compensation expenses(5) Basic policy on profit distribution and dividends for the current term and next term
UT Group’s management goal is to "establish a stable financial base and actively develop our business tocontinuously improve corporate value through high growth." In addition, the continuous return of profits toshareholders is considered an important management issue. With a total return ratio of 30% as our baseline target, wehave a policy to make overall judgment of share price level, business environment, and other factors and to deliver
optimal shareholder returns through dividend payment or share buyback that helps to improve capital efficiency.
We will use the internal retention funds effectively to strengthen our corporate structure and actively develop ourbusiness in response to future changes in the business environment.
As for the return to shareholders for FY3/2022, we will pay a regular dividend of 24.00 yen per share, 30% of profit
attributable to owners of the parent, in accordance with the above policy.

In accordance with the above shareholders' return policy, we plan to distribute profits to shareholders by a total
return ratio of 30% or more, based on the combination of dividend payment and share buyback, taking into accountthe company's operating performance and the trends in the stock market.
2. Basic Policy on Selection of Accounting Standard
UT Group adopts the Japanese Accounting Standards in order to facilitate comparison with our competitors in Japan.

-5-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

3. Consolidated Financial Statements and Significant Notes(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2021

As of March 31, 2022

AssetsCurrent assets
Cash and deposits

25,26625,82730

43

16,732

21,401

Merchandise and finished goods

25

12Work in process

7

15

Raw materials and supplies

52

58

1,907

2,442

(42)

(53)

43,97949,748484

1,326

Accumulated depreciation

(144)

(538)

Buildings and structures, net

339

788

331

970

Accumulated depreciation

(207)

(347)

Other, net

124

623

464

1,411

4,005

5,731

8

5

Software

585

461

Other

942

3,311

5,541

9,509

Investment securities

882

1,176

Long-term loans receivable17

13

Long-term prepaid expenses

13

15

1,264

1,663

Other

559

625

Allowance for doubtful accounts

(56)

(56)

Total investments and other assets

2,681

3,438

8,687

14,35952,666

64,107

Notes receivable - trade
Accounts receivable - trade

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

Other

Total property, plant and equipment
Intangible assets
Goodwill
Leased assets

Total intangible assets
Investments and other assets

Deferred tax assets

Total non-current assets
Total assets-6-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Million yen)
As of March 31, 2021

As of March 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

2,517

280

191

235

Current portion of long-term borrowings

2,328

3,648

Accounts payable - other

1,590

2,492

Accrued expenses

7,106

9,106

9

10

855

412

Accrued consumption taxes

2,841

3,943

Provision for bonuses

2,095

2,305

94

49

2,878

2,882

53

99

22,56425,467

9,163

15,990

Lease liabilities

29

22

Retirement benefit liability

534

727

Deferred tax liabilities

114

613

Other

62

54

9,904

17,40832,46842,875

Share capital

686

686

Capital surplus

338

338

18,091

18,567(0)(0)

19,116

19,5920(0)Foreign currency translation adjustment

(28)

156

Total accumulated other comprehensive income

(28)

156

Share acquisition rights

602

600

Non-controlling interests

507

882

20,19821,232

52,666

64,107

Short-term borrowings

Lease liabilities
Income taxes payable

Provision for bonuses for directors (and other officers)
Deposits received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total net assets
Total liabilities and net assets-7-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income :Consolidated Statements of Income(Million yen)
FY3/2021(April 1, 2020
March 31, 2021)

FY3/2022(April 1, 2021
March 31, 2022)

Net sales

115,131

156,769

Cost of sales

93,529128,998

Gross profit

21,602

27,770317

367Salaries and bonus

4,426

6,161

Provision for bonuses

1,291

1,397

94

52

Welfare expenses

1,134

1,373

Recruiting expenses

2,406

6,116

372

554

Commission expenses

1,711

2,226

Amortization of goodwill

454

671

Other

2,229

2,591

Total selling, general and administrative expenses

14,43821,513

7,163

6,257

Interest income

02

Foreign exchange gains－

29

Subsidies for employment adjustment

149

71

Dividend income of insurance

19

32

Surrender value of insurance policies

－

21

Other

20

48

Total non-operating income

189

206

Interest expenses

52

54

Foreign exchange losses

59－

Commission expenses

482

Share of loss of entities accounted for using equity method－

247

Donations

－

60

Other

45

65

Total non-operating expenses

161

508

7,191

5,954

－

21

Selling, general and administrative expenses
Remuneration for directors (and other officers)

Provision for bonuses for directors (and other officers)

Depreciation

Operating profit
Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sale of non-current assets-8-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Gain on reversal of share acquisition rights

1

2

Gain on sale of shares of subsidiaries and associates－

2

Gain on sale of investment securities－

1

Total extraordinary income

127

Loss on retirement of non-current assets

61

15

Restructuring cost

95

284

Loss on termination of retirement benefit plan

13

23

Loss on step acquisitions－

289

Loss on sale of shares of subsidiaries and associates－

6

Loss on COVID19－

15

Loss on cancellation of rental contracts－

111

Loss on valuation of investments in capital

19

－

Other

0

－

191

745

Profit before income taxes

7,000

5,235

Income taxes - current

2,644

1,966

Income taxes - deferred

6

(41)

Total income taxes

2,650

1,924

Profit

4,349

3,311

49

170

4,299

3,140

Extraordinary losses

Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent
Consolidated Statements of Comprehensive Income(Million yen)
FY3/2021(April 1, 2020
March 31, 2021)

ProfitFY3/2022(April 1, 2021
March 31, 2022)

4,349

3,311

0

(0)

(28)

225

Remeasurements of defined benefit plans, net of tax

5－

Share of other comprehensive income of entities accounted forusing equity method

－

(0)

(22)

225

4,326

3,536

4,280

3,325

46

211

Other 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-9-Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(3) Consolidated Statements of Changes in Shareholders' Equity
FY3/2021 (from April 1, 2020 to March 31, 2021)(Million yen)
Shareholders’ equity

Balance at beginning of the period

CommonCapitalRetained

Treasurystock

surplusearnings

stock

686

422

13,791

Total
shareholders’equity(0)14,900Changes of items during the period
Dividends from retained earnings―

Net profit attributable to owners of

4,299

the parent

4,299

Purchase of treasury shares

(0)

(0)

Change in ownership interest ofparent due to transactions with non-

(83)

(83)

controlling interests
Net changes of items other thanshareholders' equity
Total changes of items during the

―

(83)

4,299

(0)

4,216

686

338

18,091(0)

19,116

periodBalance at end of the period

Accumulated other comprehensive income

Balance at beginning of year in review

Valuation

Foreign

Remeasure

Total

difference

currency

ments ofaccumulated

on othertranslation

definedothersecurities

adjustment

benefitcomprehensi

plans

ve income

―

―

(5)

(5)

Share
acquisitionrights―Minority

Total net

interests

assets129

15,023

Changes during year in review
Dividends from retained earnings―

Net profit attributable to owners of

4,299

the parent
Purchase of treasury shares(0)Change in ownership interest ofparent due to transactions with non-(83)

controlling interests
Net changes in items other than

0

(28)

5

(22)

602

378

958

Total changes during year in review

0

(28)

5

(22)

602

378

5,174

Balance at end of year in review

0

(28)

―

(28)

602

507

20,198shareholders' equity- 10 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

FY3/2022 (from April 1, 2021 to March 31, 2022)(Million yen)
Shareholders’ equity

Balance at beginning of the period

CommonCapitalRetained

Treasurystock

surplusearnings

stock

686

338

18,091

Total
shareholders’equity(0)19,116

Changes of items during the period
Dividends from retained earnings(2,663)(2,663)

3,140

3,140

Net profit attributable to owners of
the parent
Purchase of treasury shares

(0)

(0)

Change in ownership interest ofparent due to transactions with non-―controlling interests
Net changes of items other thanshareholders' equity
Total changes of items during the

―

―

476

(0)

476

686

338

18,567(0)

19,592

periodBalance at end of the period

Accumulated other comprehensive income

Balance at beginning of year in review

Valuation

Foreign

Remeasure

Total

difference

currency

ments ofaccumulated

on othertranslation

definedothersecurities

adjustment

benefitcomprehensi

plans

ve income

0

(28)

―

(28)

Share
acquisitionrights602

Minority

Total net

interests

assets507

20,198Changes during year in review
Dividends from retained earnings(2,663)

Net profit attributable to owners of

3,140

the parent
Purchase of treasury shares(0)Change in ownership interest ofparent due to transactions with non-―controlling interests
Net changes in items other than

(0)

185

―

184

(2)

375

557

Total changes during year in review

(0)

185

―

184

(2)

375

1,034

Balance at end of year in review

(0)

185

―

156

600

882

21,232shareholders' equity- 11 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(4) Consolidated Statements of Cash Flows(Million yen)
FY3/2021(April 1, 2020
March 31, 2021)

FY3/2022(April 1, 2021
March 31, 2022)

Cash flows from operating activities
Profit before income taxes

7,000

5,235

Depreciation

378

574

Amortization of goodwill

454

671

Commission expenses

482

Increase (decrease) in allowance for doubtful accounts(9)3

Increase (decrease) in provision for bonuses

508

213

57

(39)

Interest and dividend income

(0)

(2)

Interest expenses

52

54

－

247

Loss (gain) on sale of shares of subsidiaries and associates－

5

Loss on retirement of non-current assets

64

10Decrease (increase) in trade receivables(841)(3,980)Decrease (increase) in prepaid expenses

(50)

(312)

Decrease (increase) in inventories

(10)

(239)

0

19

Increase (decrease) in trade payables

(278)

74

Increase (decrease) in accrued consumption taxes

(257)

1,186

Increase (decrease) in accounts payable - other

249

(161)

Increase (decrease) in accrued expenses

982

1,518

Increase (decrease) in deposits received

602

(34)

Other, net

(4)

22

Subtotal

8,903

5,147

0

1

(54)

(54)

Income taxes paid

(2,194)(2,815)

Net cash provided by (used in) operating activities

6,654

2,279

Purchase of property, plant and equipment

(173)

(53)

Purchase of intangible assets(108)(1,445)－234(2,591)(2,955)

1,079

67

Increase (decrease) in provision for bonuses for directors (andother officers)

Share of loss (profit) of entities accounted for using equity
methodDecrease (increase) in long-term prepaid expenses

Interest and dividends received
Interest paid

Cash flows from investing activities

Proceeds from maturity of insurance funds
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Proceeds from purchase of shares of subsidiaries resulting inchange in scope of consolidation- 12 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Payments for sale of shares of subsidiaries resulting in change

－

(867)

(604)

(1,415)

－

4

(25)

35

Decrease (increase) in guarantee deposits

745

Other, net

349(2,413)(6,300)Net increase (decrease) in short-term borrowings

(142)

(3)

Proceeds from long-term borrowings

5,003

10,630

Repayments of long-term borrowings(2,839)(3,301)

Proceeds from issuance of share acquisition rights

603－

Purchase of treasury shares

(0)

(0)

Dividends paid

(1)(2,665)

Dividends paid to non-controlling interests－(3)

Other, net

(9)

(100)

2,613

4,554

(3)

25

Net increase (decrease) in cash and cash equivalents

6,851

560

Cash and cash equivalents at beginning of period

18,41525,266

Cash and cash equivalents at end of period

25,26625,827in scope of consolidation
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries and associates
Net decrease (increase) in short-term loans receivable

Net cash provided by (used in) investing activities
Cash flows from financing activities

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents- 13 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(5) Notes to the Consolidated Financial Statements(Note on the Assumption as a Going Concern)
Not applicable(Change in accounting policies)(Application of Accounting Standard for Revenue Recognition, etc.)
The Accounting Standard for Revenue Recognition (ASBJ No. 29, March 31, 2020) and others have been applied since
the start of the current fiscal year and the Company recognizes the amount expected to be received in exchange forgoods or services as revenue when the control of the promised goods or services has been transferred to the client. In
adopting the Accounting Standard for Revenue Recognition, etc., UT Group followed the transitional treatment stipulated
in the provision of Paragraph 84 of the Accounting Standard for Revenue Recognition. However, the impact on earnings
surplus at the beginning of the current fiscal year ended March 31, 2022 is negligible. In addition, the impact on profit
and loss for the fiscal year is also negligible.
In the Consolidated Balance Sheets, “Notes and accounts receivable – trade” stated in “Current assets” until theprevious quarter is stated as “Notes receivable – trade” and “Accounts receivable – trade”.
(Application of Accounting Standard for Fair Value Measurement, etc.)
The Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, July 4, 2019) and others have been
applied since the start of the current fiscal year, and the Company has decided to apply the new accounting policy set
forth by the Accounting Standard for Fair Value Measurement, etc. into the future in accordance with the transitional
procedures stipulated in Paragraph 19 of the Accounting Standard for Fair Value Measurement and Paragraph 44-2 ofthe Accounting Standard for Financial Instruments (ASBJ Statement No. 10, July 4, 2019). This will have no impact onquarterly consolidated financial statements.
(Segment Information)
1. Outline of reportable business segments
The reportable business segments of the UT Group consist of those for which separate financial information is available
within the Group’s structural units. Segments are also subject to regular reviews as the Board of Directors in order todetermine the allocation of management resources and assess the business performance.
UT Group consists of business segments, based on their business domains. There are three reportable segments:
Manufacturing Business, Solution Business, and Engineering Business.
The main business of each segment is as follows:(1) Manufacturing Business: Manufacturing dispatching and subcontracting work; provision of personnel services(2) Solution Business: Services to assist large manufacturing companies’ structural reform, such as to receive workers
transferred from client companies(3) Engineering Business: Dispatching of and subcontracting work by engineers in design and development, IT,construction, and other areas and; provision of personnel services- 14 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

2. Calculation method for sales, profit or loss, assets, liabilities, and other items by reportable business segment
The accounting method for the reported business segments is the same as the accounting method employed to prepare
the consolidated financial statements. Reportable segment income is a figure that is based on operating income. Intersegment income and transfers are based on the prevailing market price.
3．Sales, profit or loss, assets, liabilities, and other items by reportable business segment, and information on revenue
breakdown
Fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(Million yen)
Reportable Business Segments
Manufacturing
Business

Solution
BusinessEngineering
Business

Total

Adjustment
amount1

Amounts on the
consolidated
statements2

Sales
Dispatching

57,682

14,68014,07486,436―86,436

Contracting

10,476

8,483

1,938

20,899―20,899

Other

1,042

6,547

205

7,795

―

7,795

Revenue from contracts
with customers

69,201

29,711

16,218115,131―

115,131

Sales to clientsInter-segment sales ortransfers

69,201

29,711

16,218115,131―

115,131

51

5

―

57

(57)

―

Total

69,252

29,717

16,218115,188(57)

115,131

Segment profit (loss)

3,437

1,309

2,431

7,179

(16)

7,163

Segment assets

21,530

9,332

4,920

35,783

16,88352,666

Depreciation

265

75

38

378

―

378

Goodwill amortization

313

53

88

454

―

454

3,072

532

―

3,605

266

3,871

Other items

Increase in property, plantand equipment, andintangible assets

Notes:
1. The adjusted amounts are as follows:(1) Adjustment to segment profit of -16 million yen is inter-segment eliminations.
(2) Adjustment to assets of 16,883 million yen are mainly corporate assets not allocated to a particular reportablesegment.
(3) The standards for allocation of non-current assets by segment and the standards for allocation ofdepreciation by segment are different.
(4) Adjustment to increase in property, plant and equipment, and intangible assets of 266 million yen is mainly
increase in property, plant and equipment, and intangible assets not allocated to a particular reportablesegment.
2. Segment profit is adjusted to correspond to operating profit in the consolidated statements of income.

- 15 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(Million yen)
Reportable Business Segments
Manufacturing
Business

Solution
BusinessEngineering
Business

Total

Adjustment
amount1

Amounts on the
consolidated
statements2

Sales
Dispatching

84,82517,30014,587116,713―116,713

Contracting

17,975

11,093

1,971

31,041―

31,041

Other

2,156

6,625

232

9,014

―

9,014

104,957

35,02016,792

156,769―

156,769

Sales to clientsInter-segment sales ortransfers

104,957

35,02016,792

156,769―

156,769

27

15

0

42

(42)

―

Total

104,984

35,035

16,792

156,812(42)

156,769

Segment profit (loss)

2,628

1,168

2,485

6,281

(24)

6,257

Segment assets

27,963

7,527

3,604

39,09525,01264,107

Depreciation

471

73

28

574

―

574

Goodwill amortization

557

65

48

671

―

671

3,458

30

1

3,490

1,796

5,287

Revenue from contracts
with customers

Other items

Increase in property, plantand equipment, andintangible assets

Notes:
1. The adjusted amounts are as follows:(1)
Adjustment to segment profit of -24 million yen is inter-segment eliminations.
(2)
Adjustment to assets of 25,012 million yen are mainly corporate assets not allocated to a particular
reportable segment.
(3)

The standards for allocation of non-current assets by segment and the standards for allocation ofdepreciation by segment are different.
(4)
Adjustment to increase in property, plant and equipment, and intangible assets of 1,796 million yen ismainly increase in property, plant and equipment, and intangible assets not allocated to a particular
reportable segment.
2. Segment profit is adjusted to correspond to operating profit in the consolidated statements of income.

- 16 -

Summary of Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Per Share Data)(Yen)
FY3/2022(April 1, 2021 March 31, 2022)

FY3/2021(April 1, 2020 March 31, 2021)

Net assets per share

472.90489.28Net profit per share

106.5377.81(Notes)
1. Diluted net income per share information has not been stated because potential shares are stock acquisition rights,
which are treated as potential shares to be conditionally issued and they do not meet required conditions and hence do
not have dilutive effects.
2. The basis for calculating earnings per share is provided below.
FY3/2021
FY3/2022(April 1, 2020 (April 1, 2021 March 31, 2021)
March 31, 2022)
Net profit attributable to owners of the parent
4,299
3,140
(million yen)Amount not attributable to common――
stockholders (million yen)
Common stock-related profit attributable to
4,299
3,140
owners of the parent (million yen)
Average number of common stocks during
40,362,915
40,362,888
the fiscal year (shares)
Summary of potential shares which are notincluded in the calculation of fully diluted
net profit per share due to lack of dilutive――
effective with significant changes from theprevious fiscal year
(Significant Subsequent Events)
Not applicable- 17 -