Notice : This document has been translated from a part of 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.

UNITED, Inc.

Consolidated Financial Report For the 2nd Quarter of FY 2022

(Japanese Accounting Standards)

November 9, 2022

Company name:

UNITED, Inc.

Stock exchange listing:

Tokyo Stock Exchange

Stock code:

2497

URL:

https://united.jp/

Representative:

Tomonori Hayakawa, CEO

Contact:

Yuji Yamashita, Director and General Manager of Corporate Administration Division

Tel:

+81-3-6821-0000

Scheduled date for filing of quarterly securities report:

November 9, 2022

Scheduled date of commencement of dividend payment:

December 9, 2022

Supplementary documents for quarterly results:

Yes

Quarterly results briefing:

Yes

( For institutional investors and securities analysts)

(Amounts of less than one million yen are rounded down)

1.Financial Highlights

(1) Results of Operations

(Percentages are shown as year-on-year changes)

Net sales

Operating profit

Ordinary profit

Profit attributable

to owners of the parent

Mil.¥

%

Mil.¥

%

Mil.¥

%

Mil.¥

%

2nd Quarter of FY 2022

6,637

△18.1

3,136

△31.2

3,146

△30.9

2,374

△24.5

2nd Quarter of FY 2021

8,100

―

4,559

―

4,553

―

3,146

―

(Note) Comprehensive income :

2nd Quarter of FY 2022

△2,299 Mil.¥ (―)

2nd Quarter of FY 2021

3,771 Mil.¥ (△63.3%)

Profit

Profit

per share (basic)

per share (diluted)

Yen

Yen

2nd Quarter of FY 2022

118.88

118.79

2nd Quarter of FY 2021

145.89

145.84

(Notes)

Due to the adoption of ASBJ Statement No. 29 "Accounting Standard for Revenue Recognition" in the FY2021,

this Forecasts of consolidated results of operations for FY2021 is presented based on the figures after the

application of ASBJ Statement No. 29. Year-on-year percentage changes in net sales is not presented because

the Company expects a significant impact on the figure of net sales and it is not appropriate to compare that for

the FY2021 with that for the FY2020.

(2) Financial Position

Total assets

Net assets

Equity ratio

Mil.¥

Mil.¥

%

2nd Quarter of FY 2022

33,235

26,757

79.8

(As of September 30, 2022)

FY 2021

38,701

30,288

77.7

(As of March 31, 2022)

(Reference) Shareholder's Equity :

2nd Quarter of FY 2022

26,533 Mil.¥

FY 2021

30,064 Mil.¥

2.Dividend Per Share

End of 1st

End of 2nd

End of 3nd

Year-end

Annual

Quarter

Quarter

Quarter

Yen

Yen

Yen

Yen

Yen

FY 2021

―

17.00

―

20.00

37.00

FY 2022

―

20.00

FY 2022(Forecasted)

―

―

―

(Note) Revisions to dividend forecasts published most recently : None

The forecasted dividend amounts for the FY 2022 are not determined at the present moment.

3. Forecasts of consolidated results of operations for FY 2022

(Percentages show year-on-year changes)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Profit per share

owners of the parent

Mil.¥

％

Mil.¥

％

Mil.¥

％

Mil.¥

％

Mil.¥

FY 2022

12,800

0.7

5,800

1.1

5,800

0.7

4,200

9.8

208.00

(Note) Revisions of the forecasts of consolidated results since the latest announcement : None

*Notes

(1)

Significant changes in scope of consolidation

：

No

(2)

Application of particular accounts procedures to the preparation of quarterly consolidated

：

No

financial statement

(3)

Changes in accounting policies and changes or restatement of accounting estimates

(i) Changes in accounting policies caused by revision of accounting standards

：

Yes

(ii) Changes in accounting policies other than (i)

：

No

(iii) Changes in accounting estimates

：

No

(iv) Restatement

：

No

(4) Number of shares issued (common stock)

①

Number of shares issued at end of the year

20,756,345 shares

FY 2021

20,756,345 shares

2nd Quarter of FY 2022

(including treasury shares)

②

Number of treasury shares issued

1,112,449 shares

FY 2021

587,199 shares

2nd Quarter of FY 2022

at end of the year

③

Number of average shares outstanding

19,975,568 shares 2nd Quarter of FY 2021

21,567,699 shares

2nd Quarter of FY 2022

during the term

*Status of a quarterly review

- Quarterly consolidated financial results are not subject to a quarterly review by certified public accountants or audit corporations

*Explanations and other special notes concerning the appropriate use of business results forecasts

  • The video of the financial results briefing for the 2nd Quarter of FY 2022 will be delivered to institutional investors and analysts via our website. The materials used in this video will be available on our website.

UNITED Consolidated Financial Statements

(1) UNITED Consolidated Balance Sheet

for the 2nd Quarter of FY 2022

(Unit : Thousands of Yen)

FY 2021

2nd Quarter of FY 2022

Items of an account

(As of March 31, 2022)

(As of September 30, 2022)

Amount

Amount

Assets

Current assets

Cash and deposits

12,165,526

12,595,206

Notes and accounts receivable - trade

1,347,244

1,068,744

Operational investment securities

18,789,981

12,417,401

Inventories

69,727

50,202

Derivatives

1,471,624

2,137,923

Other

340,835

364,906

Allowance for doubtful accounts

△5,411

△6,508

Total current assets

34,179,529

28,627,876

Non-current assets

Property, plant and equipment

292,599

280,593

Intangible assets

Goodwill

327,664

958,098

Other

234,613

265,448

Total intangible assets

562,278

1,223,546

Investments and other assets

Derivatives

3,088,403

2,280,209

Other

578,244

823,319

Total investments and other assets

3,666,648

3,103,529

Total non-current assets

4,521,526

4,607,669

Total assets

38,701,056

33,235,546

Liabilities

Current liabilities

Accounts payable - trade

879,338

915,876

Short-term borrowings

100,000

100,000

Current portion of long-term borrowings

69,178

59,240

Income taxes payable

1,103,564

1,199,835

Other

660,077

677,785

Total current liabilities

2,812,158

2,952,737

Non-current liabilities

Long-term borrowings

75,766

74,660

Deferred tax liabilities

5,524,606

3,450,399

Total non-current liabilities

5,600,372

3,525,059

Total liabilities

8,412,531

6,477,797

Net assets

Shareholders' equity

Share capital

2,923,019

2,923,019

Capital surplus

379,270

377,844

Retained earnings

14,979,955

16,951,183

Treasury shares

△983,344

△1,809,396

Total shareholders' equity

17,298,901

18,442,650

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

9,601,720

5,025,840

Deferred gains or losses on hedges

3,163,747

3,065,301

Total accumulated other comprehensive income

12,765,468

8,091,142

Share acquisition rights

224,154

221,955

Non-controlling interests

―

2,000

Total net assets

30,288,524

26,757,748

Total liabilities and net assets

38,701,056

33,235,546

(2) UNITED Consolidated Statement of Income

for the 2nd Quarter of FY 2022

(Unit : Thousands of Yen)

2nd Quarter of FY 2021

2nd Quarter of FY 2022

Items of an account

(April 1, 2021

(April 1, 2022

to September 30, 2021)

to September 30, 2022)

Amount

Amount

Net sales

8,100,468

6,637,534

Cost of sales

2,235,564

2,135,728

Gross profit

5,864,904

4,501,806

Selling, general and administrative expenses

1,305,551

1,365,097

Operating profit

4,559,352

3,136,708

Non-operating income

Interest and dividend income

72

63

Share of profit of entities accounted for using equity method

257

10,389

Gain on forfeiture of unclaimed dividends

278

2,307

Other

554

7,858

Total non-operating income

1,163

20,618

Non-operating expenses

Interest expenses

1,154

1,079

Commission expenses

101

86

Foreign exchange losses

497

―

Loss on valuation of crypto assets

3,134

5,686

Expense related to restricted stock

―

3,044

Other

2,555

900

Total non-operating expenses

7,444

10,797

Ordinary profit

4,553,072

3,146,529

Extraordinary income

Transfer of rights income

―

350,000

Other

―

9,522

Total extraordinary income

―

359,522

Extraordinary losses

Loss on retirement of non-current assets

―

2,667

Total extraordinary losses

―

2,667

Profit before income taxes

4,553,072

3,503,384

Income taxes - current

1,505,343

1,149,117

Income taxes - deferred

△98,882

△20,343

Total income taxes

1,406,460

1,128,774

Profit

3,146,611

2,374,610

Profit attributable to owners of parent

3,146,611

2,374,610

(3) UNITED Consolidated Statement of Comprehensive Income

for the 2nd Quarter of FY 2022

(Unit : Thousands of Yen)

2nd Quarter of FY 2021

2nd Quarter of FY 2022

Items of an account

(April 1, 2021

(April 1, 2022

to September 30, 2021)

to September 30, 2022)

Amount

Amount

Profit

3,146,611

2,374,610

Other comprehensive income

Valuation difference on available-for-sale securities

766,429

△4,575,879

Deferred gains or losses on hedges

△140,301

△98,446

Foreign currency translation adjustment

△7

―

Share of other comprehensive income of entities accounted for using equity method

△855

―

Total other comprehensive income

625,266

△4,674,326

Comprehensive income

3,771,877

△2,299,715

Comprehensive income attributable to owners of parent

3,771,877

△2,299,715

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UNITED Inc. published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 06:40:04 UTC.