GA technologies : Summary of Consolidated Financial Results for the Six Months Ended April 30, 2022 (Based on IFRS)

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 Six Months Ended April 30, 2022 (Based on IFRS)

																		June 14, 2022
Company name:	GA technologies Co., Ltd.			Stock exchange listing:	Tokyo Stock Exchange
Stock code:	3491					URL:			https://www.ga-tech.co.jp/
Representative:	RYO HIGUCHI, President and Chief Executive Officer
Contact person:	SATOSHI MATSUKAWA, Executive Officer and Chief Accounting Officer				TEL：[phone]
Scheduled date to file Quarterly Securities Report:			June 14, 2022
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:			Yes	(for institutional investors and analysts, in Japanese)
									(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the Six months ended April 30, 2022 (November 1, 2021 to April 30, 2022)
(1) Consolidated operating results(cumulative)				(Percentage figures are the changes from the same period prior year)
														Profit attributable		Total
	Revenue	EBITDA※	Operating profit		Profit before tax		Profit		to owners of		comprehensive
														parent			income
	Million yen	%	Million yen	%	Million yen	%		Million yen	%	Million yen		%	Million yen		%		Million yen		%
Six months ended	48,901	53.4	2,415	80.8	227	-		(44)	-		(61)		-	(61)		-		(66)		-
April 30, 2022
Six months ended	31,869	-	1,335	-	(212)	-		(413)	-		(351)		-	(351)		-		(332)		-
April 30, 2021

※EBITDA = Business profits + Depreciation (Operating expenses)

	Basic earnings	Diluted earnings
	per share	per share
	Yen	Yen
Six months ended April 30, 2022	(1.71)	-
Six months ended April 30, 2021	(10.92)	-

(NOTE) Despite the existence of diluted shares, Diluted earnings per share for the Six months ended April 30, 2021 and the Six months ended April 30, 2022 are not stated since they are antidilutive.

(2) Consolidated financial position

			Equity attributable to	Ratio of equity
	Total assets	Total equity	attributable to owners
	owners of parent
			of parent to total assets
	Million yen	Million yen	Million yen	%
As of April 30, 2022	55,225	18,977	18,974	34.4
As of October 31, 2021	48,594	17,672	17,672	36.4

2. Cash dividends

			Dividends per share
	1st	2nd	3rd		Fiscal	Total
	quarter-end	quarter-end	quarter-end		year-end
	Yen	Yen	Yen		Yen	Yen
Year ended October 31, 2021	-	0.00	-		0.00	0.00
Year ended October 31, 2022	-	0.00
Year ending October 31, 2022 (Forecast)			-		-	-

(NOTE) Revision of dividend forecast from recently announced figures: Not applicable Dividend forecast of the fiscal year ending October 31, 2022 is yet to be determined.

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3. Forecast of consolidated financial results for the fiscal year ending October 31, 2022 (November 1, 2021 to October 31, 2022) (Percentage figures are the changes from the same period prior year)

	Revenue		EBITDA※		Operating profit		Profit attributable to	Basic earnings
				owners of parent		per share
	Million yen		%	Million yen		%	Million yen		%	Million yen		%	Yen
Full year	110,000		-	4,700		-	500		-	(350)		-	(9.75)

(NOTE) Revisions to the forecast of financial results from recently announced figures: Applicable ※EBITDA = Business profits + Depreciation (Operating expenses)

4. Notes

(1)Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation):

1. Changes in accounting policies and changes in accounting estimates

1. Changes in accounting policies required by IFRS:
2. Changes in accounting policies due to other reasons:
3. Changes in accounting estimates:

Not applicable

Not applicable Not applicable Not applicable

(3) Number of issued shares (common stock)

(i) Total number of issued shares at the end of the period (including treasury shares):

	As of April 30, 2022	36,149,375 shares	As of October 31, 2021	35,152,375 shares
(ii) Total number of treasury shares at the end of the period:
	As of April 30, 2022	682 shares	As of October 31, 2021	682 shares
(iii) Average number of shares during the period (cumulative from the beginning of the fiscal year):
	Six months ended April 30, 2022	35,488,478 shares	Six months ended April 30, 2021	32,217,736 shares

.

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Condensed Quarterly Consolidated Financial Statements

Condensed Quarterly Consolidated Statement of Financial Position

						(Million yen)
	IFRS	transition
		date		As of October 31,		As of April 30,
	As of November 1,	2021	2022
		2020
Assets
Current assets
Cash and cash equivalents	6,318	15,275	15,095
Trade and other receivables	180	284	264
Inventories	1,450	2,891	3,602
Other financial assets	92	173	634
Other current assets		375		829		1,944
Total current assets	8,416	19,453	21,540
Non-current assets
Property, plant and equipment	1,271	1,400	1,257
Investment property	7,676	15,222	16,153
Goodwill	3,762	5,082	7,346
Intangible assets	3,686	3,451	3,515
Right-of-use assets	956	1,773	2,832
Other financial assets	1,621	1,527	1,612
Deferred tax assets	0	647	918
Other non-current assets		41		36		49
Total non-current assets		19,016		29,140		33,685
Total assets		27,433		48,594		55,225

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						(Million yen)
	IFRS	transition
		date		As of October 31,		As of April 30,
	As of November 1,	2021	2022
		2020
Liabilities and equity
Liabilities
Current liabilities
Trade and other payables	1,011	1,531	1,437
Contract liabilities	216	269	328
Bonds and borrowings	2,493	3,497	4,635
Lease liabilities	1,972	3,979	4,690
Other financial liabilities	1,107	1,410	1,958
Income taxes payable	661	1	193
Other current liabilities		329		447		751
Total current liabilities	7,793	11,137	13,994
Non-current liabilities
Bonds and borrowings	4,438	3,043	3,280
Lease liabilities	8,166	15,579	17,383
Provisions	411	432	461
Other financial liabilities	256	461	932
Deferred tax liabilities	394	207	159
Other non-current liabilities		41		60		34
Total non-current liabilities		13,709		19,783		22,252
Total liabilities	21,502	30,921	36,247
Equity
Share capital	1,182	7,219	7,224
Capital surplus	4,124	10,865	12,227
Retained earnings	434	(419)	(480)
Treasury shares	(0)	(0)	(0)
Other components of equity		190		7		2
Total equity attributable to owners of	5,931	17,672	18,974
parent
Non-controlling interests		-		-		3
Total equity		5,931		17,672		18,977
Total liabilities and equity		27,433		48,594		55,225

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Condensed Quarterly Consolidated Statement of Loss and Condensed Quarterly Consolidated Statement of Comprehensive Income

(Condensed Quarterly Consolidated Statement of Loss)

			(Million yen)
	Six months ended		Six months ended
	April 30, 2021		April 30, 2022
Revenue	31,869	48,901
Cost of sales	27,348	41,996
Gross profit	4,520	6,905
Selling, general and administrative expenses	4,719	6,663
Business profit (loss)	(198)	241
Other income	30	35
Other expenses	44	50
Operating profit (loss)	(212)	227
Finance income	0	13
Finance costs	201	285
Loss before tax	(413)	(44)
Income tax expense	(61)	16
Loss	(351)	(61)
Loss attributable to
Owners of parent	(351)	(61)
Loss	(351)	(61)
Earnings per share
Basic loss per share	(10.92)	(1.71)
Diluted earnings per share	-	-

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