Marumae : Summary of Financial Results for the Fiscal Year Ended August 31, 2021

Marumae

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Financial Results for the Fiscal Year Ended

August 31, 2021 (Japanese GAAP) (Non-consolidated)

		October 8, 2021
Name of Listed Company:	Marumae Co., Ltd.	Stock Exchange Listing: Tokyo
Security Code:	6264
URL:	https://www.marumae.com/
Representative:	Toshikazu Maeda, President and Representative Director
Contact:	Takeshi Shimomai, General Manager of the Administrative Dept.
	Email: [e-mail]

Scheduled date of General Meeting of Shareholders: November 26, 2021

Scheduled start date of dividends payment: November 29, 2021

Scheduled date for submission of the securities report: November 29, 2021

Preparation of supplementary materials for the financial results: Yes

Earnings release conference: Yes (for institutional investors)

Note: Amounts are rounded down to the nearest million yen.

1. Financial Results for the Fiscal Year Ended August 31, 2021 (September 1, 2020 to August 31, 2021)

1. Operating Results

Note: Percentages indicate changes from the previous fiscal year.

		Fiscal year ended
	August 31, 2020		August 31, 2021
		%		%
Net sales (Millions of yen)	4,388	9.2	5,369	22.4
Operating profit (Millions of yen)	896	80.8	1,207	34.7
Ordinary profit (Millions of yen)	834	74.8	1,200	43.9
Profit (Millions of yen)	690	58.2	902	30.7
Earnings per share of common stock (Yen)
Basic	53.34		70.51
Diluted	-		-
Return on equity (%)	12.5		15.0
Ordinary profit to total assets (%)	9.7		12.9
Operating profit to net sales (%)	20.4		22.5

Reference: Share of profit (loss) of entities accounted for using equity method: - million yen (for the fiscal year ended August 31, 2021) - million yen (for the fiscal year ended August 31, 2020)

Marumae

1. Financial Position

						As of
					August 31, 2020		August 31, 2021
Total assets (Millions of yen)		8,894	9,742
Net assets (Millions of yen)		5,706	6,327
Equity ratio (%)					64.2	64.9
Net assets per share (Yen)		445.69	494.20
Reference:	Equity: 6,327 million yen (as of August 31, 2021)
		5,706 million yen (as of August 31, 2020)
(3)	Cash Flows
						Fiscal year ended
					August 31, 2020		August 31, 2021
Cash flows from operating activities (Millions of yen)		1,190	1,062
Cash flows from investing activities (Millions of yen)		(337)	(809)
Cash flows from financing activities (Millions of yen)		(575)	(291)
Cash and cash equivalents at end of period (Millions of yen)		2,540	2,505
2.	Dividends
					Fiscal year ended	Fiscal year ending
				August 31, 2020	August 31, 2021	August 31, 2022
				(Forecast)
1Q-end dividends per share (Yen)	-	-	-
2Q-end dividends per share (Yen)	5.00	10.00	18.00
3Q-end dividends per share (Yen)	-	-	-
Year-end dividends per share (Yen)	12.00	14.00	18.00
Annual dividends per share (Yen)	17.00	24.00	36.00
Total dividends (Millions of yen)	218	307
Payout ratio (%)				31.9	34.0	37.0
Dividend on equity (%)	4.0	5.1

Marumae

3. Financial Forecasts for the Fiscal Year Ending August 31, 2022 (September 1, 2021 to August 31, 2022)

Note: Percentages indicate changes from the corresponding period of the previous fiscal year.
	Six months ending February 28, 2022	Fiscal year ending
	(Cumulative)		August 31, 2022
		%		%
Net sales (Millions of yen)	3,540	-	7,200	-
Operating profit (Millions of yen)	900	-	1,800	-
Ordinary profit (Millions of yen)	890	-	1,780	-
Profit (Millions of yen)	623	-	1,245	-
Earnings per share (Yen)	48.68		97.30
Note: From the beginning of the fiscal year ending August 31, 2022, the Company applies the "Accounting Standard for Revenue
Recognition" (ASBJ Statement No. 29), etc. The financial forecasts presented above include the effects of the new standards.
Accordingly, the percentages of changes from the corresponding period of the previous fiscal year are not presented.

Marumae

Notes

1. Changes in accounting policies, changes in accounting estimates and restatements
2. 1. Changes in accounting policies along with changes in accounting standards: None
   2. Changes in accounting policies, other than those included in 1. above: None
   3. Change in accounting estimates: None
   4. Restatements: None
3. Number of shares issued and outstanding (common stock)
4. 1. Number of shares issued and outstanding (including treasury shares)

As of August 31, 2021:	13,053,000 shares
As of August 31, 2020:	13,053,000 shares
2. Number of shares of treasury shares
As of August 31, 2021:	250,196 shares
As of August 31, 2020:	250,196 shares
3. Average number of shares outstanding
Fiscal year ended August 31, 2021:	12,802,804 shares
Fiscal year ended August 31, 2020:	12,945,749 shares

* Status of implementation of audit procedures

This Summary of Financial Results is exempt from the audit procedures by certified public accountants or audit firms.

* Explanation regarding the appropriate use of financial forecasts and other notes

The financial forecasts and other forward-looking statements presented in this Summary of Financial Results are based on information available to the Company at the time of the issuance of this report, and certain assumptions judged to be reasonable by the Company. Actual financial results may differ significantly due to various factors. Please refer to "1. Analysis on Operating Results and Financial Position,

(1) Analysis on Operating Results" on page 2 for the assumptions used for financial forecasts and other notes on their use.

Marumae

Contents

1.	Analysis on Operating Results and Financial Position..................................................................	2
	(1)	Analysis on Operating Results ..................................................................................................	2
	(2)	Analysis on Financial Position...................................................................................................	3
	(3)	The Basic Policy on Profit Distribution and Dividends for the Current and Next Fiscal Years..........	4
2.	Status of the Corporate Group ..........................................................................................................	4
3.	Basic Approach to the Selection of Accounting Standards ..........................................................	4
4.	Financial Statements and Primary Notes.........................................................................................	5
	(1)	Balance Sheet ..............................................................................................................................	5
	(2)	Statement of Income ...................................................................................................................	9
	(3)	Statement of Changes in Equity ..............................................................................................	12
	(4)	Statement of Cash Flows..........................................................................................................	14
	(5)	Notes to the Financial Statements...........................................................................................	16
5.	Others.................................................................................................................................................	19

1. Board Member Changes…….……………………………………………………………………… 19
2. Status of Production, Orders, and Sales.………………………………………………………… 19

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