Makuake : Summary of Financial Results for the third quarter 2022

Note: This document has been translated from 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.

July 26, 2022

Non-consolidated Financial Results

for the Nine Months Ended June 30, 2022

Company name:	Makuake, Inc.
Listing:	Tokyo Stock Exchange
Stock code:	4479
URL:	http://www.makuake.com/
Representative:	Ryotaro Nakayama, CEO
Inquiries:	Yuki Tamura, Corporate Officer and General Manager of Business Management
	Division
TEL:	[phone] (from overseas)

Scheduled date to file quarterly securities report:	July 27, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary materials for quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:	Yes

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Performance for the nine months ended June 30, 2022 (from October 1, 2021 to June 30, 2022)

(1) Operating results (cumulative)				(Percentages indicate year-on-year changes.)
	Net sales	Operating profit	Ordinary profit	Profit
Nine months ended	Millions of yen	%	Millions of yen		%	Millions of yen	%	Millions of yen	%
June 30, 2022	3,326	(0.2)	(89)		-	(66)	-	7	(94.6)
June 30, 2021	3,332	59.3	201		(62.1)	200	(62.2)	129	(63.5)
	Basic earnings per	Diluted earnings per
	share		share
Nine months ended		Yen			Yen
June 30, 2022		0.56		0.55
June 30, 2021		10.86		10.37

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(2) Financial position

	Total assets	Net assets	Equity ratio
As of	Millions of yen	Millions of yen	%
June 30, 2022	10,508	6,929	65.5
September 30, 2021	10,331	6,873	66.2
Reference: Equity
As of June 30, 2022	¥6,882 million
As of September 30, 2021	¥6,841 million

2. Cash dividends

				Annual dividends
	First		Second		Third	Fiscal year-end		Total
	quarter-end		quarter-end		quarter-end
	Yen		Yen		Yen	Yen		Yen
Fiscal year ended	-	0.00		-	0.00	0.00
September 30, 2021
Fiscal year ending	-	0.00		-
September 30, 2022
Fiscal year ending						0.00	0.00
September 30, 2022 (Forecast)
Note: Revisions to the cash dividend forecasts most recently announced: None

3. Earnings forecasts for the fiscal year ending September 30, 2022 (from October 1, 2021 to September 30, 2022)

(Percentages indicate year-on-year changes.)

											Basic
	Net sales		Operating profit	Ordinary profit	Profit		earnings per
											share
	Millions of		%	Millions of	%	Millions of	%	Millions of		%	Yen
	yen		yen	yen	yen
Fiscal year ending	4,700		1.7	0	(100.0)	20	(93.9)	65		(73.6)	5.19
September 30, 2022
Note: Revisions to the earnings forecasts most recently announced: None

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* Notes

1. Application of special accounting treatments for the preparation of quarterly financial statements: None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2022	12,568,700 shares
As of September 30, 2021	12,404,700 shares

(ii) Number of treasury shares at the end of the period

As of June 30, 2022	130 shares
As of September 30, 2021	87 shares

(iii) Average number of shares during the period (cumulative from the beginning of the fiscal year)

For the nine months ended June 30, 2022	12,514,388 shares
For the nine months ended June 30, 2021	11,960,170 shares

• Quarterly financial results reports are exempt from quarterly review conducted by an audit corporation.
• Proper use of earnings forecasts, and other special matters
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual business and other results may differ substantially due to various factors.

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		Makuake, Inc. (4479)
Quarterly financial statements and significant notes thereto
(1) Quarterly balance sheet
		(Thousands of yen)
	As of September 30, 2021	As of June 30, 2022
Assets
Current assets
Cash and deposits	5,949,943	5,661,611
Cash segregated as deposits	2,641,311	2,893,922
Accounts receivable - trade	551,330	417,560
Other	134,259	152,293
Allowance for doubtful accounts	(7,282)	(7,282)
Total current assets	9,269,563	9,118,106
Non-current assets
Property, plant and equipment	43,119	53,735
Intangible assets	593,873	844,379
Investments and other assets
Other	412,131	487,880
Allowance for doubtful accounts	(7,537)	(7,537)
Total investments and other assets	404,594	480,342
Total non-current assets	1,041,587	1,378,457
Deferred assets	20,396	11,763
Total assets	10,331,547	10,508,328

Liabilities

Current liabilities

Income taxes payable

Deposits received

Other

Total current liabilities

Non-current liabilities

Provision for retirement benefits

Provision for continuous services benefits Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

72,286	6,064
2,652,462	2,906,259
690,611	607,949
3,415,360	3,520,273
337	1,320
42,516	57,005
42,853	58,326
3,458,214	3,578,600
3,103,387	3,120,279
3,103,387	3,120,279
635,591	642,596
(499)	(625)

Total shareholders' equity	6,841,867	6,882,530
Share acquisition rights	31,464	47,197
Total net assets	6,873,332	6,929,727
Total liabilities and net assets		10,331,547	10,508,328

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			Makuake, Inc. (4479)
(2) Quarterly statement of income
			(Thousands of yen)
		Nine months ended	Nine months ended
		June 30, 2021	June 30, 2022
Net sales	3,332,990	3,326,617
Cost of sales	558,716	651,204
Gross profit	2,774,273	2,675,412
Selling, general and administrative expenses	2,573,177	2,764,564
Operating profit (loss)	201,096	(89,152)
Non-operating income
Interest income	-	2
Dividend income	-	16
Lecture fees and other income	5,325	7,309
Subsidy income	-	20,744
Other	654	3,012
Total non-operating income	5,980	31,084
Non-operating expenses
Amortization of share issuance costs	6,672	8,632
Total non-operating expenses	6,672	8,632
Ordinary profit (loss)	200,403	(66,700)
Extraordinary income
Gain on sale of investment securities	-	97,500
Total extraordinary income	-	97,500
Profit before income taxes	200,403	30,799
Income taxes - current	74,115	25,324
Income taxes - deferred	(3,629)	(1,528)
Total income taxes	70,485	23,795
Profit		129,918	7,004

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