[Summary] Consolidated Financial Results for the Nine Months Ended September 30, 2021 [Japanese-GAAP]

Note : 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.

Consolidated Financial Results

for the Nine Months Ended September 30, 2021

[Japanese GAAP]

November 11, 2021

Company name: Future Innovation Group, Inc.

Stock exchange listing: Tokyo and Fukuoka

Code number: 4392

URL: http://www.figinc.jp/

Representative: MURAI Yuji, President and CEO

Contact: KIBE Kazuhisa, Director and Managing Executive Officer, Manager of President's Office

Phone: [phone]

Scheduled date of filing quarterly securities report: November 11, 2021

Scheduled date of commencing dividend payments: -

Availability of supplementary explanatory materials on quarterly financial results: Available

Schedule of quarterly financial results briefing session: Not scheduled

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

1. Consolidated Financial Results for the Nine Months Ended September 30, 2021 (January 1, 2021 - September 30, 2021)

(1) Consolidated Operating Results		(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit		Ordinary profit		Profit attributable to
					owners of parent
	Nine months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	September 30, 2021	8,673	10.9	405	-	408	-	266	-
	September 30, 2020	7,821	15.0	(194)	-	(163)	-	(315)	-

(Note) Comprehensive income: Nine months ended September 30, 2021: ¥527 million [-%] Nine months ended September 30, 2020: ¥(293) million [(-)%]

	Basic earnings	Diluted
	earnings
	per share
	per share
Nine months ended	Yen	Yen
September 30, 2021	9.12	8.99
September 30, 2020	(10.92)	-

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio
	Million yen	Million yen	%
As of September 30, 2021	19,482	8,723	44.0
As of December 31, 2020	15,294	8,311	53.4

(Reference) Equity: As of September 30, 2021: ¥8,576 million As of December 31, 2020: ¥8,167 million

2. Dividends

				Annual dividends
		1st quarter-end	2nd quarter-end		3rd quarter-end	Year-end	Total
		Yen	Yen		Yen	Yen	Yen
Fiscal year ended		-	0.00		-	5.00	5.00
December 31, 2020
Fiscal year ending		-	0.00		-
December 31, 2021
Fiscal year ending
December 31, 2021						5.00	5.00
(Forecast)
(Note) Revision to the forecast for dividends announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2021 (January 1, 2021 - December 31, 2021)

(% indicates changes from the previous corresponding period.)

							Profit attributable	Basic earnings
	Net sales		Operating profit	Ordinary profit	to owners of
		per share
							parent
	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	11,000	6.4	500	-	468	-	294	73.8	10.15

(Note) Revision to the financial results forecast announced most recently: None

* Notes:

1. Changes in significant subsidiaries during the period under review: None (Changes in specified subsidiaries resulting in changes in scope of consolidation):

Newly included: - (

), Excluded: - (

)

1. Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
3. 1. Changes in accounting policies due to the revision of accounting standards: None
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Retrospective restatement: None
4. Total number of issued and outstanding shares (common shares)
5. 1. Total number of issued and outstanding shares at the end of the period (including treasury shares):

September 30, 2021:	31,176,015 shares
December 31, 2020:	31,084,515 shares
2) Total number of treasury shares at the end of the period:
September 30, 2021:	1,918,296 shares
December 31, 2020:	1,918,220 shares
3) Average number of shares during the period:
Nine months ended September 30, 2021:	29,213,177 shares
Nine months ended September 30, 2020:	28,890,418 shares

• These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
• Explanation of the proper use of financial results forecast and other notes
  The earnings forecasts and other forward-looking statements herein are based on information currently available and certain assumptions that the Company regards as reasonable, and are not intended as a guarantee that the Company will achieve these targets. Actual results may therefore differ materially from these statements for various reasons.

(1) Quarterly Consolidated Balance Sheets

			(Million yen)
		As of December 31, 2020	As of September 30, 2021
Assets
Current assets
Cash and deposits		2,341	2,163
Notes and accounts receivable	2,200	3,637
Investments in leases		1,898	1,950
Inventories	1,840	2,434
Other		205	232
Allowance for doubtful accounts	(25)	(28)
Total current assets		8,461	10,390
Non-current assets
Property, plant and equipment
Land	1,709	1,709
Construction in progress		912	2,942
Other, net	1,584	1,516
Total property, plant and equipment		4,206	6,168
Intangible assets
Goodwill		406	374
Other	446	438
Total intangible assets		852	813
Investments and other assets
Investment securities		574	979
Deferred tax assets	135	70
Long-term accounts receivable		886	886
Other	192	187
Allowance for doubtful accounts		(15)	(12)
Total investments and other assets		1,774	2,111
Total non-current assets		6,833	9,092
Total assets		15,294	19,482

1

			(Million yen)
		As of December 31, 2020	As of September 30, 2021
Liabilities
Current liabilities
Notes and accounts payable	963	1,347
Short-term borrowings		1,625	4,682
Current portion of bonds payable	316	216
Current portion of long-term borrowings		811	664
Income taxes payable	223	53
Accrued consumption taxes		83	97
Provision for bonuses for directors (and other	51	225
officers)
Provision for product warranties		21	23
Other	628	471
Total current liabilities		4,725	7,782
Non-current liabilities

Bonds payable

Long-term borrowings

Provision for retirement benefits for directors (and other officers)

33		25
1,926	2,619
78		56

Retirement benefit liability	107	120
Deferred tax liabilities		89	133
Other	22	21
Total non-current liabilities		2,257	2,977
Total liabilities		6,983	10,759
Net assets
Shareholders' equity
Capital stock		2,000	2,012
Capital surplus	3,839	3,852
Retained earnings		2,739	2,859
Treasury shares	(455)	(455)
Total shareholders' equity		8,123	8,268
Accumulated other comprehensive income
Valuation difference on available-for-sale securities		45	305
Foreign currency translation adjustment	(0)	1
Total accumulated other comprehensive income		44	307
Share acquisition rights		126	131
Non-controlling interests		17	15
Total net assets		8,311	8,723
Total liabilities and net assets		15,294	19,482

2