Financial Results Briefing Materials for the Fiscal Year Ended March 31, 2022

and the Progress of

the "Kanachu Group Medium‐term Management Plan (FY2021 - FY2023)"

April 27, 2022

Kanagawa Chuo Kotsu Co., Ltd.

Summary of Financial Results for the Fiscal Year Ended March 31, 2022

Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Status of the General Passenger Automobile Traffic Business

Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved.

Status during the period and as of March 31, 2022

  • Throughout the period, a harsh business environment prevailed and passenger demand waxed and waned, as travel and economic activities were restricted due to the issues of the declaration of a state of emergency and the application of focused measures to prevent the spread of COVID‐19 in the Group's business area.
  • In the second half of the year, while the so‐called "5th Wave of COVID‐19" ended and the declaration of the state of emergency was lifted at the end of September leading to an upturn in passenger demand, there was a resurgence in COVID‐19 from January and demand significantly declined due to the "6th Wave."
  • Since the end of the focused measures to prevent the spread of COVID‐19 in March, passenger demand has once again been on a recovery trend.

Passenger bus business

Passenger demand waxed and waned reflecting the increase and decrease of new cases of COVID‐19.

Passenger demand declined due to the "6th Wave" but transportation revenue in March recovered to more than

80 % of pre‐COVID‐19 levels.

We transported Tokyo Olympics/Paralympics personnel during the summer season.

Chartered bus business

Due to the recovery in demand by student organizations, the number of vehicles in operation at one time

recovered to pre‐COVID‐19 levels, but cancellations and postponements increased due to the "6th Wave." Demand

recovered to about 90 % of pre‐COVID‐19 levels in March.

Passenger taxi business

Some recovery has been seen in daytime demand but with no recovery in night time demand, operations were hit

by the "6th Wave" and the number of passenger traffic is only about 50 % of pre‐COVID‐19 levels.

*Pre‐COVID‐19 levels: FY2019 results (FY2018 results for February and March)

3

Consolidated Statement of Income

Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved.

(Million yen)

Fiscal year ended

Fiscal year ended

Fiscal year ended March 31,

Increase/decrease

2022

Increase/decrease

March 31, 2022

March 31, 2021

Financial results forecast

(Announced February 2022)

Net sales

97,777

90,915

6,862

97,300

477

[7.5%]

[0.5%]

General passenger automobile

45,016

40,379

4,636

45,910

(893)

traffic business

Real estate business

7,774

6,487

1,286

7,720

54

Automobile sales business

26,692

26,120

571

25,680

1,012

Other businesses

25,648

25,773

(125)

25,200

448

Remeasurements

(7,354)

(7,846)

491

(7,210)

(144)

Operating profit

1,008

(5,940)

6,949

1,190

(181)

(－)

[( 15.2%)]

General passenger automobile

(3,357)

(9,138)

5,781

(2,910)

(447)

traffic business

Real estate business

3,058

2,713

345

2,980

78

Automobile sales business

881

501

380

780

101

Other businesses

590

269

320

480

110

Remeasurements

(165)

(286)

121

(140)

(25)

Ordinary profit (loss)

2,586

(5,354)

7,941

2,620

(33)

(－)

[( 1.3%)]

Profit (loss) attributable to owners of

1,838

(8,516)

10,354

2,080

(241)

parent

(－)

[( 11.6%)]

Basic earnings per share

149.79yen

(693.97) yen

843.76yen

169.49yen

(19.70)yen

Depreciation

6,608

7,070

(462)

Capital expenditures

6,125

7,698

(1,573)

EBITDA (Operating profit + Depreciation)

7,617

1,129

6,487

4

Non‐operating Income/Loss and Extraordinary Income/Loss

Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved.

(Million yen)

Fiscal year ended

Fiscal year ended

Increase/decrease

Comments

March 31, 2022

March 31, 2021

Non‐operating income

1,982

1,143

839

Grant income: +807 *1

Non‐operating

404

557

(152)

Interest expenses: (55)

expenses

Amortization of bond issuance costs: (46)

Grant income: (855) *1

Extraordinary income

1,222

1,130

92

Gain on sale of investment securities: ＋511

＋

Gain on sale of non‐current assets: 304

Impairment losses: (1,274)

Extraordinary loss due to closing and other:

Extraordinary loss

959

2,511

(1,551)

(654) *2

Loss on retirement of non‐current assets: ＋

318

※1 Grant income including the "Employment adjustment subsidy" during the period covered by the declaration of the state of emergency was reported under "Extraordinary income" in the previous fiscal year in light of its urgent and temporary nature but it was reported under non‐ operating income in the current fiscal year.

※2 Fixed costs including personnel expenses, depreciation, and rent expenses incurred during temporary closings due to the declaration of the state of emergency were reported under extraordinary loss in the previous fiscal year in light of their urgent and temporary nature but they were reported under "Cost of sales" and "Selling, general and administrative expenses" in the current fiscal year.

5

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Kanagawa Chuo Kotsu Co. Ltd. published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 06:09:07 UTC.