SHIMAMURA : (Delayed) Summary of Consolidated Financial Results for the Six Months Ended August 20, 2021(Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Six Months Ended August 20, 2021 (Based on Japanese GAAP)

																																	September 27, 2021
Company name:		SHIMAMURA Co.,Ltd.
Stock exchange listing:		Tokyo
Stock code:	8227	URL	https://www.shimamura.gr.jp/
Representative:		President and Representative Director					Makoto Suzuki
Inquiries:	Planning Section General Manager					Makoto Oota					TEL	048-631-2131
Scheduled date to file Quarterly Securities Report:							September 28, 2021
Scheduled date to commence dividend payments:							October 29, 2021
Preparation of supplementary material on quarterly financial results:			Yes
Holding of quarterly financial results meeting:							Yes	(for analysts and institutional investors)
																			(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended August 20, 2021 (from February 21, 2021 to August 20, 2021)
	(1) Consolidated operating results (cumulative)																Percentages indicate year-on-year changes
								Net sales					Operating profit			Ordinary profit		Profit attributable to
																owners of parent
						Millions of yen	%			Millions of yen	%		Millions of yen	%		Millions of yen	%
	Six months ended August 20, 2021					284,592		11.9					25,342		58.6		25,835		57.8			17,427	65.6
	Six months ended August 20, 2020					254,253		(3.8)				15,976		11.3		16,371		12.2			10,525		9.5
								Earnings per share					Diluted earnings per share
												Yen							Yen
	Six months ended August 20, 2021							474.22									-
	Six months ended August 20, 2020							286.41									-
	(2) Consolidated financial position
								Total assets							Net assets					Equity ratio
								Millions of yen					Millions of yen								%
	As of August 20, 2021							455,254					397,618								87.3
	As of February 20, 2021					451,798					384,388								85.1
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 February 20, 2021						-							100.00							-			120.00				220.00
	Year ending February 20, 2022						-							110.00
	Year ending February 20, 2022 (Forecast)																		-					110.00				220.00
3. Forecast of consolidated financial results for the year ending February 20, 2022 (from February 21, 2021 to February 20, 2022)
																							Percentages indicate year-on-year changes
			Net sales			Operating profit			Ordinary profit		Profit attributable to			Earnings per share
								owners of parent
			Millions of yen	%		Millions of yen			%		Millions of yen		% Millions of yen	%					Yen
	Full year		570,520		5.1		45,684		20.1		46,647		18.4				31,239		19.4				850.04

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4. Notes

1. Changes in significant subsidiaries during the six months ended August 20, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
	As of August 20, 2021	36,913,299	shares	As of February 20, 2021	36,913,299	shares
Number of treasury shares at the end of the period
	As of August 20, 2021	162,796	shares	As of February 20, 2021	163,942	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended August 20, 2021	36,749,764	shares	Six months ended August 20, 2020	36,750,278	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of February 20, 2021	As of August 20, 2021
Assets
Current assets
Cash and deposits	18,486	71,722
Accounts receivable - trade	6,622	8,306
Securities	193,000	147,000
Merchandise	50,612	48,564
Other	7,649	5,567
Total current assets	276,371	281,160
Non-current assets
Property, plant and equipment
Buildings and structures, net	87,868	87,965
Land	49,148	49,168
Other, net	2,642	2,296
Total property, plant and equipment	139,659	139,430
Intangible assets
Other	903	895
Total intangible assets	903	895
Investments and other assets
Guarantee deposits	19,733	18,697
Other	16,333	16,269
Allowance for doubtful accounts	(1,201)	(1,200)
Total investments and other assets	34,865	33,767
Total non-current assets	175,427	174,093
Total assets	451,798	455,254
Liabilities
Current liabilities
Accounts payable - trade	24,024	24,253
Income taxes payable	10,996	9,119
Provision for bonuses	4,760	2,587
Provision executive officers' bonuses	-	23
Provision for point card certificates	333	39
Other	18,510	12,641
Total current liabilities	58,625	48,663
Non-current liabilities
provision for part-time employees retirement	1,071	1,093
Provision for retirement benefits for directors (and other	115	116
officers)
Provision for executive officers' retirement benefits	137	156
Retirement benefit liability	1,332	1,386
Asset retirement obligations	5,824	5,914
Other	304	304
Total non-current liabilities	8,785	8,972
Total liabilities	67,410	57,636

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			(Millions of yen)
		As of February 20, 2021	As of August 20, 2021
Net assets
Shareholders' equity
Share capital	17,086	17,086
Capital surplus	18,637	18,641
Retained earnings	346,301	359,319
Treasury shares	(1,411)	(1,403)
Total shareholders' equity	380,614	393,643
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	3,912	4,140
Deferred gains or losses on hedges	16	(6)
Foreign currency translation adjustment	(132)	(156)
Remeasurements of defined benefit plans	(22)	(3)
Total accumulated other comprehensive income	3,773	3,974
Total net assets	384,388	397,618
Total liabilities and net assets	451,798	455,254

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Six months ended	Six months ended
		August 20, 2020	August 20, 2021
Net sales	254,253	284,592
Cost of sales	169,259	186,920
Gross profit	84,993	97,671
Operating revenue	466	541
Operating gross profit	85,459	98,212
Selling, general and administrative expenses	69,483	72,870
Operating profit	15,976	25,342
Non-operating income
Interest income	107	89
Dividend income	112	117
Gain on sales of investment securities	-	4
Gain on sales of packaging materials	59	72
Compensation income	144	6
Foreign exchange gains	-	132
Miscellaneous income	44	72
Total non-operating income	467	495
Non-operating expenses
Foreign exchange losses	68	-
Loss on processed gift certificates	1	1
Miscellaneous loss	2	1
Total non-operating expenses	72	2
Ordinary profit	16,371	25,835
Extraordinary income
Subsidy income	-	178
Subsidies for employment adjustment	-	1
Total extraordinary income	-	180
Extraordinary losses
Loss on sales and retirement of non-current assets	63	86
Impairment loss	166	142
Loss on disaster	100	89
Loss on valuation of investment securities	201	117
Loss on store closings	142	-
Other	12	0
Total extraordinary losses	685	436
Profit before income taxes	15,685	25,579
Income taxes	5,159	8,151
Profit	10,525	17,427
Profit attributable to owners of parent	10,525	17,427

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