Life : ［Delayed］Financial Results Reference Documents for the Fiscal Year Ended February 28,2022

April 11, 2022

LIFE CORPORATION

TEL: [phone] (from overseas)

Financial Results and Reference Documents for the Fiscal Year

Ended February 28, 2022

Table of contents

1. Financial Summary ......................................................................................................................................... 2

(Consolidated) .................................................................................................................................................. 2

(Non-consolidated) ........................................................................................................................................... 2

2. Net Sales (Non-consolidated) ......................................................................................................................... 3

3. Results/Plans for Capital Expenditures (Consolidated) .................................................................................. 5

4. Newly Launched Stores/Store Closures and Sales Floor Area at the End of the Fiscal Year (Non-

consolidated) ................................................................................................................................................... 6

5. Selling, General and Administrative Expenses ............................................................................................... 7

(Consolidated) .................................................................................................................................................. 7

(Non-consolidated) ........................................................................................................................................... 7

• 6. Employees and New Graduates Hired (Consolidated) .................................................................................... 7

• 7. Key Financial Indicators ................................................................................................................................. 8

  (Consolidated) .................................................................................................................................................. 8

  (Non-consolidated) ........................................................................................................................................... 8

• 8. Company Overview ........................................................................................................................................ 8

1. Financial Summary (Consolidated)

(Millions of yen, %)

Fiscal year ended February 29, 2020 Change	Fiscal year ended February 28, 2021 Change	Fiscal year ended February 28, 2022 Change	Fiscal year ending February 28, 2023 (forecast) Change
Operating revenue	714,684	2.3	759,146	6.2	768,335	1.2	770,000	*
Net sales	693,062	2.2	736,346	6.2	745,080	1.2	746,000	*
Operating profit	13,879	13.0	27,388	97.3	22,932	(16.3)	23,200	1.2
Ordinary profit	14,558	13.5	28,156	93.4	23,695	(15.8)	24,000	1.3
Profit attributable to owners of parent	7,834	5.9	17,824	127.5	15,208	(14.7)	15,500	1.9
Dividend per share (Yen)	40.00	50.00	70.00	70.00

(Non-consolidated)

(Millions of yen, %)

Fiscal year ended February 29, 2020 Change	Fiscal year ended February 28, 2021 Change	Fiscal year ended February 28, 2022 Change	Fiscal year ending February 28, 2023 (forecast) Change
Operating revenue	713,879	2.3	758,259	6.2	767,379	1.2	769,000	*
Net sales	693,062	2.2	736,346	6.2	745,080	1.2	746,000	*
(Net existing rate of change)	0.5	5.3	(0.7)	0.7
Operating profit	13,851	12.7	27,193	96.3	22,808	(16.1)	22,900	0.4
Ordinary profit	14,541	13.2	27,972	92.4	23,556	(15.8)	23,700	0.6
Profit	7,787	4.9	17,665	126.9	15,066	(14.7)	15,250	1.2
Newly launched stores	8	8	8	11

*The Company has applied the "Accounting Standard for Revenue Recognition" and relevant ASBJ regulations from the beginning of the fiscal year ending February 28, 2023. Therefore, the forecasted results are based on the said standard, etc., but the rate of change is not presented as the method for calculating operating revenue and net sales differs from the previous method.

Operating revenue and net sales are expected to decrease by approximately ¥22.0 billion.

The net existing rate of change has been presented as the method for calculation is the same as before.

2. Net Sales (Non-consolidated)

(1) Net sales/number of customers/average sale per customer (year on year) (%)

Fiscal year ended February 29, 2020	Fiscal year ended February 28, 2021	Fiscal year ended February 28, 2022
All stores	Existing stores	All stores	Existing stores	All stores	Existing stores
Net sales	102.2	100.5	106.2	105.3	101.2	99.3
Number of customers	101.7	99.6	94.9	93.9	102.9	100.7
Average sale per customer	100.5	100.9	112.0	112.1	98.3	98.6

(2) Net sales by division

(Millions of yen, %)

Department	Fiscal year ended February 29, 2020 YoY	Fiscal year ended February 28, 2021 YoY	Fiscal year ended February 28, 2022 YoYCompared with existing Sales composition
Food Agricultural Produce Marine Products Meat Products Delicatessen Process and Daily	592,956	102.5	636,177	107.3	647,426	101.8	99.6	86.9
87,735	99.6	98,563	112.3	98,578	100.0	98.0	13.2
52,497	104.0	57,700	109.9	59,063	102.4	100.1	7.9
74,302	103.6	83,262	112.1	83,448	100.2	98.0	11.2
75,209	104.9	75,257	100.1	81,992	109.0	106.1	11.0
303,211	102.3	321,393	106.0	324,343	100.9	99.0	43.5
Lifestyle Products	64,268	103.1	66,971	104.2	64,823	96.8	95.9	8.7
Apparel	25,875	94.0	23,516	90.9	23,150	98.4	99.0	3.1
Others	9,961	99.6	9,680	97.2	9,680	100.0	102.0	1.3
Total	693,062	102.2	736,346	106.2	745,080	101.2	99.3	100.0

(3) Net sales by region

(Stores, millions of yen, %)

Fiscal year ended February 29, 2020	Fiscal year ended February 28, 2021	Fiscal year ended February 28, 2022
Number of stores	Net sales	Sales composition	Number of stores	Net sales	Sales composition	Number of stores	Net sales	Sales composition
Tokyo Region	121	332,947	48.0	122	360,533	49.0	125	368,626	49.5
Tokyo	81	228,657	33.0	81	248,660	33.8	84	251,101	33.7
Saitama	8	21,481	3.1	8	22,052	3.0	7	21,916	3.0
Chiba	5	9,529	1.4	5	9,447	1.3	5	9,000	1.2
Kanagawa	27	73,278	10.5	28	80,373	10.9	29	86,607	11.6
Osaka Region	154	360,114	52.0	158	375,812	51.0	160	376,454	50.5
Osaka	121	279,600	40.3	122	290,313	39.4	124	289,303	38.8
Hyogo	14	37,913	5.5	17	42,224	5.7	17	44,434	6.0
Nara	4	10,154	1.5	4	9,970	1.4	3	8,516	1.1
Kyoto	15	32,446	4.7	15	33,303	4.5	16	34,199	4.6
Total	275	693,062	100.0	280	736,346	100.0	285	745,080	100.0

(4) Gross profit ratio by division

(%)

Department	Fiscal year ended February 29, 2020 Change	Fiscal year ended February 28, 2021 Change	Fiscal year ended February 28, 2022 Change
Food Agricultural Produce Marine Products Meat Products Delicatessen Process and Daily	29.9	+0.8	31.1	+1.2	31.4	+0.4
27.3	+1.7	28.8	+1.5	29.5	+0.7
29.8	+1.1	32.3	+2.4	32.3	0.0
29.3	+0.6	31.1	+1.8	31.0	(0.1)
53.7	+0.7	54.7	+1.0	54.9	+0.2
24.9	+0.3	26.0	+1.1	26.0	0.0
Lifestyle Products	24.9	+0.4	26.9	+1.9	26.7	(0.2)
Apparel	38.4	+0.6	38.8	+0.5	39.4	+0.5
Others	9.9	(0.1)	10.3	+0.4	10.2	(0.1)
Total	29.5	+0.7	30.6	+1.2	31.0	+0.3

3. Results/Plans for Capital Expenditures (Consolidated)

(Millions of yen)

Fiscal year ended February 29, 2020	Fiscal year ended February 28, 2021	Fiscal year ended February 28, 2022	Fiscal year ending February 28, 2023 (plan)
New store investment	6,595	10,204	7,179	16,500
Renovation investment	4,052	5,177	6,468	2,400
System investment	1,665	3,214	2,591	6,500
Others	7,555	10,661	6,610	4,100
Total	19,867	29,256	22,848	29,500

Note: Above is based on construction