Goldwin : Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Based on Japanese GAAP)

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.

February 7, 2023

Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Based on Japanese GAAP)

Company name:	GOLDWIN INC.
Stock exchange listing:	Tokyo
Securities code:	8111
URL:	https://corp.goldwin.co.jp/eng/
Representative:	Takao Watanabe, President and Representative Director
Inquiries:	Michio Shirasaki, Managing Director, Director-General Administration
TEL:	[phone]

Scheduled date to file Quarterly Securities Report:	February 14, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
Nine months ended	Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen	%
December 31, 2022		86,746		17.6	18,281	29.1	21,924		41.9	16,268	50.8
December 31, 2021		73,782		6.6	14,157	4.3	15,453		11.3	10,789	16.8
Note: Comprehensive income	Nine months ended December 31, 2022: ¥17,240 million	[55.6%]
		Nine months ended December 31, 2021: ¥11,077 million	[19.8%]

	Earnings per	Diluted earnings
	share	per share
Nine months ended	Yen	Yen
December 31, 2022	361.12	-
December 31, 2021	237.76	-

(2) Consolidated financial position

	Total assets	Net assets
As of	Millions of yen	Millions of yen
December 31, 2022	119,084	74,649
March 31, 2022	99,085	63,411
Reference: Equity
As of December 31, 2022	¥74,523 million
As of March 31, 2022	¥63,278 million

Equity ratio

%

62.6

63.9

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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 March 31,	-	20.00		-	65.00	85.00
2022
Year ending March 31,	-	25.00		-
2023
Year ending March 31,					65.00	90.00
2023 (Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: No

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

(Percentages indicate year-on-year changes)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per
		owners of parent	share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Full year	113,500		15.5	20,300	23.0	26,200	29.2	20,000	39.4	443.95

Note: Revisions to the forecast of consolidated financial results most recently announced: Yes

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* Notes

1. Changes in significant subsidiaries during the nine months ended December 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation): No
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
4. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: No
   3. Changes in accounting estimates: No
   4. Restatement of prior period financial statements: No
5. Number of issued shares (common shares)
6. 1. Total number of issued shares at the end of the period (including treasury shares)

As of December 31, 2022	47,448,172	shares
As of March 31, 2022	47,448,172	shares

(ii) Number of treasury shares at the end of the period

As of December 31, 2022	2,413,795	shares
As of March 31, 2022	2,202,276	shares

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

Nine months ended December 31, 2022	45,049,778	shares
Nine months ended December 31, 2021	45,379,137	shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of financial forecasts, and other special matters
  Descriptions of the above financial forecasts and other data are based on information currently available to the Company and certain assumptions that we consider to be reasonable. Actual financial results may differ significantly from the forecasts for various reasons.

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Quarterly Consolidated Financial Statements

(1) Quarterly consolidated balance sheet

			(Millions of yen)
		As of March 31, 2022	As of December 31, 2022
Assets
Current assets
Cash and deposits	26,406	29,264
Notes and accounts receivable - trade, and contract	11,032	17,338
assets
Electronically recorded monetary claims - operating	2,797	5,359
Merchandise and finished goods	12,554	13,184
Work in process	326	344
Raw materials and supplies	542	649
Other	1,841	5,311
Allowance for doubtful accounts	(13)	(9)
Total current assets	55,486	71,443
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,718	2,268
Land	4,691	4,691
Other, net	2,231	1,909
Total property, plant and equipment	8,642	8,870
Intangible assets
Trademark right	1,490	1,276
Other	1,602	1,994
Total intangible assets	3,093	3,271
Investments and other assets
Investment securities	24,060	28,003
Guarantee deposits	2,708	2,738
Other	5,282	4,946
Allowance for doubtful accounts	(188)	(188)
Total investments and other assets	31,862	35,499
Total non-current assets	43,598	47,640
Total assets		99,085	119,084

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			(Millions of yen)
		As of March 31, 2022	As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	4,904	5,002
Electronically recorded obligations - operating	12,223	22,423
Short-term borrowings	-	620
Current portion of long-term borrowings	1,437	940
Income taxes payable	3,112	2,150
Provision for bonuses	1,648	528
Other	7,060	8,204
Total current liabilities	30,386	39,869
Non-current liabilities
Long-term borrowings	2,751	1,947
Retirement benefit liability	217	190
Provision for share awards	947	1,034
Other	1,371	1,392
Total non-current liabilities	5,287	4,565
Total liabilities	35,673	44,434
Net assets
Shareholders' equity
Share capital	7,079	7,079
Capital surplus	276	297
Retained earnings	61,356	73,419
Treasury shares	(5,377)	(7,153)
Total shareholders' equity	63,335	73,643
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	480	716
Deferred gains or losses on hedges	98	222
Foreign currency translation adjustment	196	651
Remeasurements of defined benefit plans	(830)	(711)
Total accumulated other comprehensive income	(56)	879
Non-controlling interests	132	126
Total net assets	63,411	74,649
Total liabilities and net assets		99,085	119,084

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