Astena : Summary of Consolidated Financial Results for the Three Months Ended February 28, 2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Three Months Ended February 28, 2022

(Based on Japanese GAAP)

Company name: Astena Holdings Co.,Ltd.

Stock exchange listing: Tokyo

Masaaki Atsumi	TEL [phone]
Scheduled date to file Quarterly Securities Report:	April 13, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No
(Amounts less than one million yen are rounded down)

Stock code: Representative: Inquiries:

8095 URLhttps://www.astena-hd.com

President Keitaro Iwaki Board Director

1. Consolidated financial results for the three months ended February 28, 2022 (from December 1, 2021 to February 28, 2022)

(1) Consolidated operating results (cumulative)

April 13, 2022

Percentages indicate year-on-year changes

Net sales	Operating profit	Ordinary profit	Profit attributable to owners of parent
Three months ended February 28, 2022 Three months ended February 28, 2021	Millions of yen 12,285 16,975	% - 16.5	Millions of yen 630 663	% - 139.0	Millions of yen 659 705	% - 139.0	Millions of yen 449 398	% - 102.8

Earnings per share	Diluted earnings per share
Three months ended February 28, 2022 Three months ended February 28, 2021	Yen 11.26 11.92	Yen - -

(2) Consolidated financial position

Total assets	Net assets	Equity ratio	Net assets per share
As of February 28, 2022 As of November 30, 2021	Millions of yen 63,102 63,553	Millions of yen 27,383 27,006	% 43.4 42.5	Yen 685.33 677.09

2. Cash dividends

Annual dividends per share
1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
Year ended November 30, 2021 Year ending November 30, 2022	Yen - -	Yen 9.00	Yen -	Yen 9.00	Yen 18.00
Year ending November 30, 2022 (Forecast)	9.00	-	9.00	18.00

3. Forecast of consolidated financial results for the year ending November 30, 2022 (from December 1, 2021 to November 30, 2022)

Percentages indicate year-on-year changes

Net sales	Operating profit	Ordinary profit	Profit attributable to owners of parent	Earnings per share
Six months ending May 31, 2022 Full year	Millions of yen 25,000 50,000	% - -	Millions of yen 1,000 1,700	% - -	Millions of yen 1,000 1,600	% - -	Millions of yen 1,000 1,500	% - -	Yen 25.08 37.62

4. Notes

• (1) Changes in significant subsidiaries during the three months ended February 28, 2022

  No

  (changes in specified subsidiaries resulting in the change in scope of consolidation):

• (2) Application of special accounting methods for preparing quarterly consolidated financial statements: No

• (3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)

As of February 28, 2022 40,630,087 shares

As of November 30, 2021 40,630,087 shares

As of February 28, 2022 40,630,087 shares As of November 30, 2

Number of treasury shares at the end of the period

As of February 28, 2022 712,887 shares

As of November 30, 2021 753,787 shares

As of February 28, 2022 712,887 shares As of November 30, 2021

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended February 28, 2022 39,904,400 shares

Three months ended February 28, 2021 33,452,021 shares

Three months ended February 28, 2022

39,904,400 shares Three months ended February 28, 2021

33,452,021 shares

Quarterly consolidated financial statements Consolidated balance sheets

(Thousands of yen)
As of November 30, 2021	As of February 28, 2022
Assets Current assets Cash and deposits Notes and accounts receivable - trade Notes and accounts receivable - trade, and contract assets Electronically recorded monetary claims - operating Merchandise and finished goods Work in process Raw materials and supplies Other Allowance for doubtful accounts	10,927,061 13,542,403 - 3,171,123 5,350,885 2,130,371 1,856,915 1,113,358 (35,136)	10,615,446 - 13,202,881 3,218,708 5,374,298 1,444,014 1,861,244 1,150,535 (31,518)
Total current assets	38,056,982	36,835,609
Non-current assets Property, plant and equipment Buildings and structures Accumulated depreciation	10,445,657 (6,361,673)	10,546,060 (6,445,649)
Buildings and structures, net	4,083,983	4,100,410
Machinery, equipment and vehicles Accumulated depreciation	9,434,943 (7,829,996)	9,520,562 (7,937,447)
Machinery, equipment and vehicles, net	1,604,946	1,583,115
Land Other Accumulated depreciation	3,690,159 3,752,826 (2,622,882)	3,695,969 3,750,413 (2,618,891)
Other, net	1,129,943	1,131,522
Construction in progress	1,440,999	1,563,418
Total property, plant and equipment	11,950,032	12,074,436
Intangible assets Goodwill Technical assets Customer relationship Other	4,394,812 542,329 2,183,926 1,290,775	4,739,900 533,721 2,208,847 1,319,823
Total intangible assets	8,411,844	8,802,292
Investments and other assets Investment securities Retirement benefit asset Other Allowance for doubtful accounts	3,612,852 393,341 1,152,551 (23,954)	3,770,330 395,198 1,248,312 (23,320)
Total investments and other assets	5,134,790	5,390,520
Total non-current assets	25,496,667	26,267,250
Total assets	63,553,650	63,102,859

(31,518)

(6,445,649)

(7,937,447)

(2,618,891)

(23,320)

(Thousands of yen)
As of November 30, 2021	As of February 28, 2022
Liabilities Current liabilities Notes and accounts payable - trade Electronically recorded obligations - operating Short-term borrowings Accrued expenses Income taxes payable Provision for bonuses Provision for sales returns Provision for product warranties Other	8,851,843 3,265,906 9,053,400 2,790,109 875,499 794,853 24,334 4,914 978,385	8,435,934 3,315,481 9,853,400 1,904,291 540,423 837,348 - 4,461 1,156,697
Total current liabilities	26,639,245	26,048,036
Non-current liabilities Long-term borrowings Deferred tax liabilities Provision for share-based compensation Retirement benefit liability Other provisions Other	5,812,500 936,999 66,255 2,598,896 - 493,480	5,395,000 1,034,893 66,255 2,618,629 32,500 524,282
Total non-current liabilities	9,908,132	9,671,561
Total liabilities	36,547,377	35,719,597
Net assets Shareholders' equity Share capital Capital surplus Retained earnings Treasury shares	4,528,304 6,516,607 15,027,322 (254,106)	4,528,304 6,509,732 15,268,379 (240,274)
Total shareholders' equity	25,818,127	26,066,141
Accumulated other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans	985,867 (763) 103,839 92,615	1,066,394 442 133,673 89,870
Total accumulated other comprehensive income	1,181,558	1,290,381
Non-controlling interests	6,586	26,738
Total net assets	27,006,272	27,383,261
Total liabilities and net assets	63,553,650	63,102,859

(240,274)

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income

(cumulative)

Consolidated statements of income (cumulative)

(Thousands of yen)
Three months ended February 28, 2021	Three months ended February 28, 2022
Net sales Cost of sales	16,975,331 12,956,768	12,285,735 8,044,002
Gross profit	4,018,562	4,241,733
Selling, general and administrative expenses	3,354,878	3,611,528
Operating profit	663,684	630,204
Non-operating income Interest income Dividend income Rental income Foreign exchange gains Other	741 20,677 14,245 1,785 40,050	652 22,371 4,444 - 36,651
Total non-operating income	77,501	64,119
Non-operating expenses Interest expenses Rent costs Foreign exchange losses Share of loss of entities accounted for using equity method Other	14,203 7,500 - 7,757 5,742	16,071 - 1,169 7,956 9,335
Total non-operating expenses	35,203	34,533
Ordinary profit	705,981	659,791
Extraordinary income Gain on sale of non-current assets Gain on sale of investment securities	14 11	1,353 -
Total extraordinary income	26	1,353
Extraordinary losses Loss on disposal of non-current assets	619	2,375
Total extraordinary losses	619	2,375
Profit before income taxes	705,388	658,768
Income taxes - current Income taxes - deferred	270,450 36,341	318,614 (109,074)
Total income taxes	306,792	209,540
Profit	398,596	449,228
Loss attributable to non-controlling interests	-	(47)
Profit attributable to owners of parent	398,596	449,276

(109,074)

(47)