Euglena : Summary of Consolidated Financial Results for the Nine Months Ended June 30, 2021 (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 Nine Months Ended June 30, 2021 (Based on Japanese GAAP)

August 13, 2021

Company name:

euglena Co., Ltd.

Stock exchange listing:

Tokyo

Stock code:

2931

URL http://www.euglena.jp/

Representative:

CEO and Representative Director

Mitsuru Izumo

Inquiries:

COO and Director

Akihiko Nagata

TEL

03(3454)4907

Scheduled date to file Quarterly Securities Report:

August 13, 2021

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended June 30, 2021 (from October 1, 2020 to June 30, 2021)

(1) Consolidated operating results (cumulative)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Nine months ended June 30, 2021

12,113

27.0

(844)

-

(440)

-

(296)

-

Nine months ended June 30, 2020

9,536

(8.7)

(1,094)

-

(822)

-

(819)

-

Note: Comprehensive income

Nine months ended June 30, 2021

¥(300) million

[-%]

Nine months ended June 30, 2020

¥(818) million

[-%]

Earnings per share

Diluted earnings per share

Yen

Yen

Nine months ended June 30, 2021

(3.04)

-

Nine months ended June 30, 2020

(8.82)

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2021

59,023

24,245

40.6

As of September 30, 2020

15,351

9,386

61.0

Reference: Equity

As of June 30, 2021

¥23,938

million

As of September 30, 2020

¥9,363

million

2. Cash dividends

Annual dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended September 30, 2020

-

0.00

-

0.00

0.00

Year ending September 30, 2021

-

0.00

-

Year ending September 30, 2021

0.00

0.00

(Forecast)

Note: Revision to cash dividend forecasts most recently announced: No

1

3. Forecast of consolidated financial results for the year ending September 30, 2021 (from October 1, 2020 to September 30, 2021)

Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Earnings per share
				owners of parent
	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen		%	Yen
Full year	33,000	147.8	-		-	-		-	-		-	-

Note 1: Revision to consolidated financial results forecast most recently announced: Yes

Note 2: The Company plans to change the fiscal year end from September 30 to December 31 on the condition that the proposal for partial amendments to the Articles of Incorporation (change of the last day of the fiscal year end) to be submitted at the Extraordinary General Meeting of Shareholders that is planned to be held on August 26, 2021, is approved as proposed. In line with this, the Company plans for the fiscal year ending December 31, 2021, which is the transitional period for the change of the fiscal year end, to be the 15-month period from October 1, 2020 to December 31, 2021. Items other than the consolidated financial results forecast will be presented under "As of September 30, 2021" per usual as it is currently prior to the holding of the Extraordinary General Meeting of Shareholders.

(Reference) Adjusted EBITDA
Year ending December 31, 2021	¥150 million

Net sales and adjusted EBITDA are announced in the financial results forecast for the fiscal year ending December 31, 2021. Adjusted EBITDA = EBITDA(Operating profit + Amortization of goodwill and Depreciation) + Subsidy income + Stock-related remuneration

4. Notes
(1)	Changes in significant subsidiaries during the nine months ended June 30, 2021	Yes
	(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:	No
	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 June 30, 2021	109,760,062	shares	As of September 30, 2020		93,153,322	shares
	Number of treasury shares at the end of the period
		As of June 30, 2021	20,431	shares	As of September 30, 2020		56,459	shares
	Average number of shares during the period (cumulative from the beginning of the fiscal year)
		Nine months ended June 30, 2021	97,718,440 shares	Nine months ended June 30, 2020	92,858,252 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of financial results forecast, and other special matters
  The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual results may differ substantially due to various factors.

2