Goldwin : Summary of Consolidated Financial Results for the Six Months Ended September 30, 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.

November 8, 2022

Summary of Consolidated Financial Results for the Six Months Ended September 30, 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:	November 14, 2022
Scheduled date to commence dividend payments:	December 5, 2022
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting:	Yes (for institutional investors and
	analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 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
Six months ended	Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen	%
September 30, 2022		45,309		18.6	5,277		60.0	7,452		94.3	5,844	122.0
September 30, 2021		38,208		21.1	3,299		166.8	3,835		174.8	2,632	321.9
Note: Comprehensive income	Six months ended September 30, 2022:	¥7,826 million	[131.6%]
		Six months ended September 30, 2021:	¥3,378 million	[648.9%]
	Earnings per		Diluted earnings
		share			per share
Six months ended			Yen		Yen
September 30, 2022		129.70			-
September 30, 2021		58.01			-
(2) Consolidated financial position
		Total assets			Net assets	Equity ratio
As of		Millions of yen	Millions of yen			%
September 30, 2022		98,248			66,340			67.4
March 31, 2022		99,085			63,411			63.9
Reference: Equity
As of September 30, 2022			¥66,228 million
As of March 31, 2022			¥63,278 million

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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	106,000		7.9	17,000	3.0	21,400	5.5	16,000	11.5	355.09

Note: Revisions to the forecast of consolidated financial results most recently announced: No

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* Notes

1. Changes in significant subsidiaries during the six months ended September 30, 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 September 30, 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 September 30, 2022	2,424,859	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)

Six months ended September 30, 2022	45,059,559	shares
Six months ended September 30, 2021	45,377,536	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 September 30, 2022
Assets
Current assets
Cash and deposits	26,406	16,407
Notes and accounts receivable - trade, and contract	11,032	13,500
assets
Electronically recorded monetary claims - operating	2,797	2,035
Merchandise and finished goods	12,554	14,927
Work in process	326	566
Raw materials and supplies	542	636
Other	1,841	3,453
Allowance for doubtful accounts	(13)	(13)
Total current assets	55,486	51,515
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,718	2,226
Land	4,691	4,691
Other, net	2,231	1,689
Total property, plant and equipment	8,642	8,607
Intangible assets
Trademark right	1,490	1,345
Other	1,602	1,809
Total intangible assets	3,093	3,154
Investments and other assets
Investment securities	24,060	27,395
Guarantee deposits	2,708	2,729
Other	5,282	5,035
Allowance for doubtful accounts	(188)	(188)
Total investments and other assets	31,862	34,971
Total non-current assets	43,598	46,733
Total assets		99,085	98,248

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			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	4,904	8,924
Electronically recorded obligations - operating	12,223	9,924
Current portion of long-term borrowings	1,437	928
Income taxes payable	3,112	929
Provision for bonuses	1,648	942
Other	7,060	5,722
Total current liabilities	30,386	27,372
Non-current liabilities
Long-term borrowings	2,751	2,185
Retirement benefit liability	217	195
Provision for share awards	947	993
Other	1,371	1,160
Total non-current liabilities	5,287	4,535
Total liabilities	35,673	31,907
Net assets
Shareholders' equity
Share capital	7,079	7,079
Capital surplus	276	297
Retained earnings	61,356	64,158
Treasury shares	(5,377)	(7,209)
Total shareholders' equity	63,335	64,326
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	480	546
Deferred gains or losses on hedges	98	203
Foreign currency translation adjustment	196	1,902
Remeasurements of defined benefit plans	(830)	(750)
Total accumulated other comprehensive income	(56)	1,901
Non-controlling interests	132	112
Total net assets	63,411	66,340
Total liabilities and net assets		99,085	98,248

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