Phil : Fiscal year ended November 30,2021 Financial Results Explanatory Materials

(Securities code: 3267)

Fiscal year ended November 30, 2021

Financial Results Explanatory Materials

Phil Company, Inc.

January 20, 2022

These materials were created by Phil Company, Inc. They contain information which was current on the date they were created. The information contained herein	Copyright © Phil Company, Inc. All Rights Reserved
may change as a result of many factors including the business of the company and future forecasts.

Financial Highlights

Copyright © Phil Company, Inc. All Rights Reserved

Fiscal year ended Nov. 2021 (digest) 1

GPM over 30%, record high since IPO

Listed on TSE Mothers	Listed on TSE 1st Section	(Units: Thousands yen)

	Ave. GPM for 5 years		Nov. 2016	Nov. 2017	Nov. 2018	Nov. 2019	Nov. 2020		Nov. 2021
	24.9%		Actual	Actual		Actual	Actual	Actual		Actual
Sales	1,668,312	2,950,117		4,739,078	7,024,711	3,970,760		5,432,354
Cost of sales	1,215,858	2,303,501		3,521,500	5,137,812	3,101,083		3,726,568
Gross profit on sales	452,453	646,616		1,217,578	1,886,898	869,676		1,705,785
Gross profit margin		(27.1%)	(21.9%)		(25.6%)	(26.8%)	(21.9%)		(31.4%)
SG&A		246,009	350,217		580,449	790,553	739,420		980,873
SG&A ratio	14.7%	11.8%		12.2%	11.2%	18.6%		18.0%
	Personnel	142,704	212,754		369,160	476,638	419,585		648,210
	Outsourcing expenses	10,064	22,150		40,324	67,265	89,362		67,717
	Tax and duties	8,470	23,919		32,426	47,991	24,915		48,110
	Advertising expense	26,086	26,342		36,005	41,769	15,575		23,053
	Payment fee	23,988	22,061		34,603	32,106	37,352		41,298
	Others	34,697	42,991		67,931	124,784	152,631		152,485
Operating income	206,443	296,398		637,128	1,096,344	130,256		724,912
Operating income	(12.3%)	(10.0%)		(13.4%)	(15.6%)	(3.2%)		(13.3%)
margin
Ordinary income	228,432	304,744		615,782	1,076,605	98,192		713,276
Ordinary income	(13.6%)	(10.3%)		(12.9%)	(15.3%)	(2.4%)		(13.1%)
margin
Net Income	171,417	187,659		415,076	600,812	19,660		407,470
Net Income margin	(10.2%)	(6.3%)	3	(8.7%)	(8.5%)	(0.4%)
	(7.5%)
								Copyright © Phil Company, Inc. All Rights Reserved

Total GP of 3 projects above is

1,139,123 thousand yen

Fiscal year ended Nov. 2021 (digest) 2

3 projects in the developed and sales scheme contributed to profits.

(Units: Thousands yen)

		Fiscal year ended Nov. 2021
	1Q	2Q	3Q	4Q	Annual total
Sales	105,093	2,006,067	1,771,297	1,549,897	5,432,354
Contracted orders scheme	1,420	875,076	297,517	682,718	1,856,731
No. of delivered properties	0	3	4	9	16
Development and sales scheme	0	1,030,000	1,364,001	761,808	3,155,809
No. of delivered properties	0	1	1	1	3
Others	103,673	100,991	109,779	105,371	419,814
Gross profit	9,882	568,645	760,362	366,896	1,705,785
Gross profit margin	(9.4%)	(28.3%)	(42.9%)	(23.6%)	(31.4%)

▼Contracted orders scheme Sales and cost of sales are recorded on a "delivery basis" and are not recorded when the order is received. They are recorded when a property is completed and delivered. ▼Development and sales scheme

Sales and cost of sales are recorded at the time when ownership is transferred.

4	Copyright © Phil Company, Inc. All Rights Reserved

Fiscal year ended Nov. 2021 (digest) 3

Sound financial position and extra investment capacity

						(Units: Thousands yen)
	2020/11				Difference
		2021/11
Current assets	4,217,515		4,575,914		358,399
Cash and savings	2,066,266		4,193,330		2,127,064	Increased due to a recovery in the contracted orders
		scheme and to revenue from development and sales.
Inventories	1,736,264		264,663		-1,471,601	Decreased due to lower amount of development and sales.
Others	414,985		117,921		-297,064
Fixed assets	931,787		874,397		-57,390
Total assets	5,149,302		5,450,312		301,010
Current liabilities	1,693,808		2,128,446		434,638
Fee received in advance	710,110		1,252,557		542,447	Increased due to a recovery in the contracted orders
		scheme.
Short-term debt	663,506		37,280		-626,226	Paid down debt using revenue from development and
		sales.
Others	320,192		838,609		518,417
Fixed liabilities	600,653		547,750		-52,903
Total liabilities	2,294,461		2,676,197		381,736
Shareholders' equity	2,852,692		2,770,989		-81,703
Treasury stock	-120,572		-609,747		-489,175	Acquired by the company.
Others	2,973,264		3,380,736		407,472
Equity ratio	(55.4%)		(50.8%)		(-4.6%)
Net assets	2,854,840		2,774,114		-80,726
Total net assets and liabilities	5,149,302		5,450,312		5	Copyright © Phil Company, Inc. All Rights Reserved
		301,010