Japan Animal Referral Medical Center : Summary of Consolidated Financial Results for the Year Ended March 31, 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 Year Ended March 31, 2021

(Based on Japanese GAAP)

																									May 6, 2021
Company name:	Japan Animal Referral Medical Center (JARMeC)
Stock exchange listing:	Tokyo
Stock code:	6039	URL https://www.jarmec.co.jp/
Representative:	Representative Director and President	Hidehiro Hirao
Inquiries:	Executive Director, Finance and			Takayuki Ishikawa				TEL [phone]
Administration
Scheduled date of ordinary general meeting of shareholders:	June 23, 2021
Scheduled date to file Securities Report:			June 24, 2021
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:						Yes			(for institutional investors and analysts)
												(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Consolidated operating results																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		%
Year ended March 31, 2021	2,847		4.2		405		(5.8)					410		(8.9)			285		(8.8)
Year ended March 31, 2020	2,734		6.6		430		8.4					450		11.4				312		6.1
						Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
		Earnings per share				owners of
							share					parent/equity						assets			sales
			Yen			Yen						%								%				%
Year ended March 31, 2021	120.73		116.98					12.8								7.0				14.2
Year ended March 31, 2020	128.79		124.24					15.8								7.5				15.8
(2) Consolidated financial position
		Total assets			Net assets				Equity ratio			Net assets per share
		Millions of yen	Millions of yen									%						Yen
As of March 31, 2021					5,844						2,336									40.0						981.33
As of March 31, 2020					5,928						2,133									36.0						879.93
(3) Consolidated cash flows
		Cash flows from	Cash flows from		Cash flows from	Cash and cash equivalents
		operating activities	investing activities	financing activities		at end of period
		Millions of yen	Millions of yen				Millions of yen		Millions of yen
Year ended March 31, 2021				504						(69)									(469)						1,114
Year ended March 31, 2020				537						(93)									(445)						1,149
2. Cash dividends
						Annual dividends per share								Total cash		Dividend payout	Ratio of dividends
																				to net assets
		1st quarter-end	2nd quarter-end	3rd quarter-end		Fiscal year-end	Total				dividends (Total)	ratio (Consolidated)	(Consolidated)
		Yen			Yen	Yen					Yen			Yen	Millions of yen		%			%
Year ended March 31, 2020	-		0.00	-					0.00			0.00			-		0.0			-
Year ended March 31, 2021	-		0.00	-					0.00			0.00			-		0.0			-
Year ending March 31, 2022	-			0.00	-					0.00			0.00					0.0
(Forecast)

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3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 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

2,930

2.9

410

1.1

420

2.2

290

1.7

121.82

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2021

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) 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

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2021

2,436,200 shares

As of March 31, 2020

2,433,700 shares

Number of treasury shares at the end of the period

As of March 31, 2021

55,577 shares

As of March 31, 2020

8,648 shares

Average number of shares during the period

Year ended March 31, 2021

2,362,200 shares

Year ended March 31, 2020

2,428,778 shares

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Consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	1,249,278	1,214,671
Accounts receivable - trade	144,052	148,872
Merchandise	47,685	59,709
Supplies	5,605	3,495
Other	29,087	40,631
Allowance for doubtful accounts	(11,201)	(9,492)
Total current assets	1,464,508	1,457,888
Non-current assets
Property, plant and equipment
Buildings and structures	2,365,602	2,376,353
Accumulated depreciation	(799,305)	(882,639)
Buildings and structures, net	1,566,296	1,493,714
Vehicles	7,410	7,410
Accumulated depreciation	(2,833)	(3,819)
Vehicles, net	4,576	3,590
Tools, furniture and fixtures	1,722,200	1,744,977
Accumulated depreciation	(1,280,524)	(1,313,627)
Tools, furniture and fixtures, net	441,675	431,349
Land	2,228,267	2,228,267
Construction in progress	41,981	41,981
Total property, plant and equipment	4,282,798	4,198,904
Intangible assets	20,936	13,965
Investments and other assets
Deferred tax assets	53,533	38,880
Other	106,967	134,477
Total investments and other assets	160,500	173,358
Total non-current assets	4,464,235	4,386,228
Total assets		5,928,743	5,844,116

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			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Liabilities
Current liabilities
Accounts payable - trade	49,994	48,183
Current portion of long-term borrowings	511,499	548,811
Income taxes payable	101,073	60,462
Provision for bonuses	55,310	67,423
Other	122,979	189,879
Total current liabilities	840,856	914,760
Non-current liabilities
Long-term borrowings	2,892,678	2,525,529
Retirement benefit liability	20,450	23,650
Asset retirement obligations	40,860	41,279
Other	-	2,709
Total non-current liabilities	2,953,989	2,593,168
Total liabilities	3,794,846	3,507,928
Net assets
Shareholders' equity
Share capital	384,875	385,500
Capital surplus	340,193	332,633
Retained earnings	1,422,661	1,707,852
Treasury shares	(13,833)	(89,798)
Total shareholders' equity	2,133,897	2,336,188
Total net assets	2,133,897	2,336,188
Total liabilities and net assets		5,928,743	5,844,116

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

			(Thousands of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Net sales	2,734,051	2,847,833
Cost of sales	1,726,017	1,853,169
Gross profit	1,008,033	994,664
Selling, general and administrative expenses	577,348	589,120
Operating profit	430,685	405,543
Non-operating income
Rental income from buildings	24,500	23,735
Insurance claim income	18,294	1,185
Other	3,524	5,129
Total non-operating income	46,319	30,051
Non-operating expenses
Interest expenses	15,206	13,732
Financing expenses	10,519	4,048
Loss on retirement of non-current assets	214	5,449
Other	95	1,400
Total non-operating expenses	26,035	24,630
Ordinary profit	450,969	410,963
Extraordinary income
Gain on sale of non-current assets	678	1,032
Total extraordinary income	678	1,032
Extraordinary losses
Impairment losses	-	-
Total extraordinary losses	-	-
Profit before income taxes	451,648	411,995
Income taxes - current	133,184	112,152
Income taxes - deferred	5,645	14,652
Total income taxes	138,829	126,804
Profit	312,818	285,190
Profit attributable to owners of parent		312,818	285,190

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