Sakai Moving Service : 〔Delayed〕Summary of the Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

		May 7, 2021
	Summary of the Consolidated Financial Results
	for the Fiscal Year Ended March 31, 2021 (FY3/21)
		[Japanese GAAP]
Company name: Sakai Moving Service Co., Ltd.	Listing: Tokyo Stock Exchange, First Section
Stock code:	9039	URL: https://www.hikkoshi-sakai.co.jp
Representative:	Tetsuyasu Tajima, President and Representative Director
Inquiries:	Teruhiro Manabe, Director, Accounting General Manager
	Tel: [phone]
Scheduled date of Annual General Meeting of Shareholders:	June 19, 2021
Scheduled date of filing of Annual Securities Report:	June 21, 2021
Scheduled date of payment of dividend:	June 21, 2021
Preparation of supplementary materials for financial results:	Yes
Holding of financial results meeting:	Yes

(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for FY3/21 (April 1, 2020 to March 31, 2021)

(1) Consolidated results of operations				(Percentages represent 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	%
Fiscal year ended Mar. 31, 2021	100,333		(0.5)	11,132	(0.5)	11,728	1.7	7,697	(14.0)
Fiscal year ended Mar. 31, 2020	100,859		4.8	11,184	1.1	11,527	1.5	8,951	22.4

Note: Comprehensive income (millions of yen):	Fiscal year ended Mar. 31, 2021:	7,798	(down 13.3%)
	Fiscal year ended Mar. 31, 2020:	8,991	(up 25.4%)

	Net income per	Diluted net	Return on equity	Ordinary profit to	Operating profit
	share	income per share		total assets	to net sales
	Yen	Yen	%	%	%
Fiscal year ended Mar. 31, 2021	374.93	-	11.2	12.2	11.1
Fiscal year ended Mar. 31, 2020	435.95	-	14.5	12.9	11.1

Reference: Equity in earnings of affiliates (millions of yen)	Fiscal year ended Mar. 31, 2021:	-
			Fiscal year ended Mar. 31, 2020:	-
(2) Consolidated financial position
		Total assets	Net assets	Shareholders' equity	Net assets per share
		ratio
		Millions of yen	Millions of yen		%	Yen
As of Mar. 31, 2021		99,488	72,125		72.5	3,513.12
As of Mar. 31, 2020		93,245	65,559		70.3	3,193.00

Reference: Shareholders' equity (millions of yen): As of Mar. 31, 2021: 72,125 As of Mar. 31, 2020: 65,559

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities	at end of period
	Millions of yen	Millions of yen	Millions of yen	Millions of yen
Fiscal year ended Mar. 31, 2021	11,303	(1,240)	(4,224)	21,715
Fiscal year ended Mar. 31, 2020	9,216	(7,505)	241	15,876

2. Dividends

		Dividend per share			Total	Payout ratio	Dividend on
								equity
	1Q-end	2Q-end	3Q-end	Year-end	Total		dividends	(consolidated)
		(consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended Mar. 31, 2020	-	15.00	-	45.00	60.00	1,231	13.8	2.0
Fiscal year ended Mar. 31, 2021	-	15.00	-	65.00	80.00	1,642	21.3	2.4
Fiscal year ending Mar. 31, 2022	-	30.00	-	60.00	90.00			23.2
(Forecast)

Note: Composition of the year-end dividend for the fiscal year ended March 31, 2020: Special dividend of 10.00 yen Composition of the year-end dividend for the fiscal year ended March 31, 2021: Special dividend of 10.00 yen and

commemorative dividend of 20.00 yen

3. Consolidated Forecast for FY3/22 (April 1, 2021 to March 31, 2022)

(Percentages represent year-on-year changes)

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Net income
				owners of parent	per share
	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
First half	49,942		3.7	6,178		4.9	6,366		4.5	4,130	1.5	201.17
Full year	103,480		3.1	11,675		4.9	11,944		1.8	7,962	3.4	387.82

* Notes

(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scope of consolidation): None

Newly added: -

Excluded: -

1. Changes in accounting policies and accounting-based estimates, and restatements

1. Changes in accounting policies due to revisions in accounting standards, others: None
2. Changes in accounting policies other than 1) above: None
3. Changes in accounting-based estimates: Yes
4. Restatements: None

1. Number of outstanding shares (common shares)

1. Number of shares outstanding at the end of the period (including treasury shares)

As of Mar. 31, 2021:	21,162,000 shares	As of Mar. 31, 2020:	21,162,000 shares
2) Number of treasury shares at the end of the period
As of Mar. 31, 2021:	631,713 shares	As of Mar. 31, 2020:	629,837 shares
3) Average number of shares outstanding during the period
Fiscal year ended Mar. 31, 2021:	20,531,412 shares	Fiscal year ended Mar. 31, 2020:	20,533,260 shares

Reference: Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for FY3/21 (April 1, 2020 to March 31, 2021)

(1) Non-consolidated results of operations				(Percentages represent year-on-year changes)
	Net sales	Operating profit	Ordinary profit	Profit
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
Fiscal year ended Mar. 31, 2021	89,509	(0.3)	10,266	(1.2)	10,771	1.3	7,124	(15.5)
Fiscal year ended Mar. 31, 2020	89,823	4.9	10,388	1.5	10,629	1.5	8,435	21.5
	Net income per share	Diluted net income per
			share
		Yen		Yen
Fiscal year ended Mar. 31, 2021		347.03		-
Fiscal year ended Mar. 31, 2020		410.81		-
(2) Non-consolidated financial position
	Total assets	Net assets	Shareholders' equity	Net assets per share
	ratio
	Millions of yen	Millions of yen		%		Yen
As of Mar. 31, 2021		95,367		69,366		72.7	3,378.75
As of Mar. 31, 2020		89,480		63,374		70.8	3,086.57
Reference: Shareholders' equity (millions of yen):	As of Mar. 31, 2021:	69,366	As of Mar. 31, 2020: 63,374

2. Non-consolidated Forecast for FY3/22 (April 1, 2021 to March 31, 2022)

(Percentages represent year-on-year changes)

	Net sales		Ordinary profit		Profit		Net income per share
	Millions of yen	%	Millions of yen		%	Millions of yen	%	Yen
First half	44,236	3.6	5,809		4.2	3,848	3.5	187.46
Full year	92,181	3.0	10,961		1.8	7,453	4.6	363.07

• The financial report is not subject to audit by certified public accountants or auditing firms.
• Cautionary statement with respect to forward-looking statements and other special items
  Forecasts of future performance in these materials are based on assumptions judged to be valid and information available to t he management of Sakai Moving Service at the time the materials were prepared. These ma terials are not promises by Sakai Moving Service regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons. For a discussion of the assumptions for forecasts, precautions concerning usage and other i nformation, please refer to "1. Overview of Results of Operations, (4) Outlook" on page 3.

	Sakai Moving Service Co., Ltd. (9039) Consolidated Financial Results for FY3/21
Contents of Attachments
1. Overview of Results of Operations	2
(1)	Results of Operations	2
(2)	Financial Position	2
(3)	Cash Flows	3
(4)	Outlook	3
2. Basic Approach to the Selection of Accounting Standards	3
3. Consolidated Financial Statements and Notes	4
(1)	Consolidated Balance Sheet	4
(2)	Consolidated Statements of Income and Comprehensive Income	6
	Consolidated Statement of Income	6
	Consolidated Statement of Comprehensive Income	7
(3)	Consolidated Statement of Changes in Equity	8
(4)	Consolidated Statement of Cash Flows	10
(5)	Notes to Consolidated Financial Statements	12
	Going-concern Assumption	12
	Segment and Other Information	12
	Per Share Information	16
	Subsequent Events	16

1

Sakai Moving Service Co., Ltd. (9039) Consolidated Financial Results for FY3/21

1. Overview of Results of Operations

(1) Results of Operations

In the current fiscal year, the Japanese economy confronted an extremely unusual situation due to the impact of a state of emergency and the slowdown of economic activity caused by the spread of the COVID-19 pandemic.

In Japan's moving industry, the business climate remained challenging because of the declining number of housing starts and of people who are relocating as well as a drop in corporate demand linked to employee transfers. The Sakai Moving Service Group is using the Internet to capture new orders. As a result, group companies were able to minimize the decline in sales caused by COVID -19. There was a 6.4% increase from one year earlier in the number of jobs performed to 833,845, but the average unit rate for moving services decreased 6.4%.

Net sales decreased 0.5% year-on-year to 100,333 million yen, operating profit decreased 0.5% to 11,132 million yen, ordinary profit increased 1.7% to 11,728 million yen, and profit attributable to owners of parent decreased 14.0% to 7,697 million yen.

(2) Financial Position

1) Current assets

Current assets increased by 5,519 million yen, or 21.0%, from the end of the previous fiscal year to 31,766 million yen.

This was attributable mainly to an increase of 5,829 million yen in cash and deposits.

2) Non-current assets

Non-current assets increased by 723 million yen, or 1.1%, from the end of the previous fiscal year to 67,722 million yen.

This was mainly attributable to a decrease of 999 million yen in machinery, equipment and vehicles, net, while there were increases of 1,004 million yen in land and 954 million yen in leased assets.

3) Current liabilities

Current liabilities increased by 824 million yen, or 4.0%, from the end of the previous fiscal year to 21,678 million yen.

This was attributable mainly to an increase of 797 million yen in accounts payable-trade.

4) Non-current liabilities

Non-current liabilities decreased by 1,147 million yen, or 16.8%, from the end of the previous fiscal year to 5,684 million yen.

This was attributable mainly to decreases of 1,056 million yen in long-term accounts payable-other included in other non-current liabilities and 990 million yen in long-term borrowings, while there was an increase of 752 million yen in lease obligations.

5) Net assets

Net assets increased by 6,566 million yen, or 10.0%, from the end of the previous fiscal year to 72,125 million yen.

This was attributable mainly to an increase of 6,466 million yen in retained earnings.

2

Sakai Moving Service Co., Ltd. (9039) Consolidated Financial Results for FY3/21

(3) Cash Flows

Cash and cash equivalents (hereinafter "net cash") at the end of the current fiscal year increased 5,838 million yen from the end of the previous fiscal year to 21,715 million yen.

Cash flows and the main reasons for changes are as follows .

Cash flows from operating activities

Net cash provided by operating activities was 11,303 million yen, compared with net cash provided of 9,216 million yen in the previous fiscal year.

Although there were negative factors including income taxes paid of 3,391 million yen, there were positive factors including profit before income taxes of 11,749 million yen, a 1,745 million yen decrease in trade receivables and depreciation of 1,337 million yen.

Cash flows from investing activities

Net cash used in investing activities was 1,240 million yen, compared with net cash used of 7,505 million yen in the previous fiscal year.

Main factors include purchase of property, plant and equipment of 2,183 million yen.

Cash flows from financing activities

Net cash used in financing activities was 4,224 million yen, compared with net cash provided of 241 million yen in the previous fiscal year.

Main factors include repayments of long-term borrowings of 1,640 million yen, repayments of installment payables-property and equipment of 1,368 million yen and dividends paid of 1,231 million yen.

(4) Outlook

As for the future economic outlook, economic activity is expected to gradually pick up while the Group is engaged in taking measures to combat the spread of the COVID -19 infections. Nevertheless, the situation is expected to remain uncertain for the foreseeable future.

In this challenging environment, the Group is aiming to improve the working environment and to further raise productivity by utilizing web tools as well as by making capital investment in its dormitories and accommodation facilities, and by continuing to steadily implement its existing sales policies. For the fiscal year ending March 31, 2022, we forecast a 3.1% increase in net sales to 103,480 million yen, a 4.9% increase in operating profit to 11,675 million yen, a 1.8% increase in ordinary profit to 11,944 million yen and a 3.4% increase in profit attributable to owners of parent to 7,962 million yen.

2. Basic Approach to the Selection of Accounting Standards

The Sakai Moving Group will continue to prepare consolidated financial statements using generally accepted accounting principles in Japan because shareholders, creditors and business partners in Japan account for most stakeholders, and there is no plan to procure funds from overseas.

3