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 June 30, 2022

(Based on Japanese GAAP)

August 12, 2022

Company name:

BASE CO.,LTD.

Stock exchange listing:

Tokyo

Stock code:

4481

URL https://www.basenet.co.jp

Representative:

President

Katsunari Nakayama

Inquiries:

Senior Vice President Director,

Noriyuki Takano

TEL 03(5207)5112

General Manager of Finance Department

Scheduled date to file Quarterly Securities Report:

August 12, 2022

Scheduled date to commence dividend payments:

September 9, 2022

Preparation of supplementary material on quarterly financial results:

No

Holding of quarterly financial results meeting:

Yes

(for analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended June 30, 2022 (from January 1, 2022 to June 30, 2022)

(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

%

Six months ended June 30, 2022

8,051

28.3

1,859

29.4

1,869

29.4

1,280

29.8

Six months ended June 30, 2021

6,276

2.2

1,437

8.4

1,444

9.5

986

9.8

Earnings per share

Diluted earnings per share

Yen

Yen

Six months ended June 30, 2022

142.45

135.48

Six months ended June 30, 2021

110.47

104.43

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2022

12,217

9,552

76.0

As of December 31, 2021

11,440

8,584

73.1

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 December 31, 2021

-

30.00

-

50.00

80.00

Year ending December 31, 2022

-

40.00

Year ending December 31, 2022 (Forecast)

-

45.00

85.00

3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)

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

15,000

12.8

3,602

20.0

3,602

19.9

2,468

16.1

274.94

1

4. Notes

(1)

Changes in significant subsidiaries during the six months ended June 30, 2022

No

(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:

Yes

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, 2022

9,070,200 shares

As of December 31, 2021

8,978,400

shares

Number of treasury shares at the end of the period

As of June 30, 2022

231 shares

As of December 31, 2021

191 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Six months ended June 30, 2022

8,988,232 shares

Six months ended June 30, 2021

8,931,626

shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Thousands of yen)

As of December 31, 2021

As of June 30, 2022

Assets

Current assets

Cash and deposits

7,486,646

8,262,376

Accounts receivable - trade

2,309,321

-

Accounts receivable - trade and contract assets

-

2,376,172

Work in process

112,352

120,835

Other

82,100

49,972

Total current assets

9,990,421

10,809,357

Non-current assets

Property, plant and equipment

69,318

62,193

Intangible assets

Goodwill

4,564

-

Other

5,954

5,214

Total intangible assets

10,518

5,214

Investments and other assets

Investment securities

922,383

967,730

Other

448,228

372,825

Total investments and other assets

1,370,612

1,340,555

Total non-current assets

1,450,450

1,407,963

Total assets

11,440,871

12,217,320

Liabilities

Current liabilities

Accounts payable - trade

718,084

951,524

Current portion of long-term borrowings

173,276

104,750

Income taxes payable

476,745

545,105

Accrued expenses

1,037,179

184,938

Provision for bonuses

-

491,924

Other

342,847

330,078

Total current liabilities

2,748,132

2,608,322

Non-current liabilities

Long-term borrowings

92,876

41,696

Other

14,930

14,930

Total non-current liabilities

107,806

56,626

Total liabilities

2,855,938

2,664,948

3

(Thousands of yen)

As of December 31, 2021

As of June 30, 2022

Net assets

Shareholders' equity

Share capital

1,050,633

1,066,101

Capital surplus

990,633

1,006,101

Retained earnings

6,105,214

6,936,645

Treasury shares

(994)

(1,240)

Total shareholders' equity

8,145,486

9,007,608

Accumulated other comprehensive income

Valuation

difference

on

available-for-sale

161,777

182,435

securities

Foreign currency translation adjustment

57,920

97,945

Total accumulated other comprehensive income

219,698

280,380

Share acquisition rights

2,511

2,052

Non-controlling interests

217,235

262,331

Total net assets

8,584,932

9,552,372

Total liabilities and net assets

11,440,871

12,217,320

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

(Thousands of yen)

Six months ended

Six months ended

June 30, 2021

June 30, 2022

Net sales

6,276,009

8,051,110

Cost of sales

4,404,445

5,706,327

Gross profit

1,871,564

2,344,783

Selling, general and administrative expenses

434,285

485,530

Operating profit

1,437,278

1,859,252

Non-operating income

Interest income

2,625

3,201

Dividend income

522

522

Gain on sale of investment securities

6,017

3,440

Subsidy income

2,800

-

Foreign exchange gains

-

3,394

Other

652

713

Total non-operating income

12,618

11,272

Non-operating expenses

Interest expenses

1,321

578

Foreign exchange losses

3,392

-

Other

223

158

Total non-operating expenses

4,937

737

Ordinary profit

1,444,959

1,869,787

Profit before income taxes

1,444,959

1,869,787

Income taxes - current

248,499

492,733

Income taxes - deferred

197,067

78,519

Total income taxes

445,567

571,252

Profit

999,391

1,298,535

Profit attributable to non-controlling interests

12,698

18,193

Profit attributable to owners of parent

986,692

1,280,341

5

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Base Co. Ltd. published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 12:12:15 UTC.