Plenus : Financial Results Presentation for Fiscal Year Ended February 28, 2022

Plenus Co., Ltd. Financial Results Presentation for Fiscal Year Ended February 28, 2022

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April 15, 2022 1

Summary

• ✓ Under "living with COVID-19" circumstances, the Group continued to implement store management that considers the achievement of customer satisfaction as a food infrastructure company and the safety of customers and employees.

• ✓ Both revenue and profit increased in FY02/22.

  Revenue increased for the first time in three periods, operating profit and ordinary profit increased for the third consecutive period and profit increased for the second consecutive period, resulting in the Company returning to profitability for the first time in four periods.

  • • Net sales increased thanks to higher net sales at existing Hotto Motto and YAYOI stores although sales declined due to the progress in franchising of Hotto Motto stores and the impact of COVID-19.

  • • Main factors: Operating profit increased due to an improvement in gross profit and higher net sales at existing Hotto Motto stores. Recording of subsidy income contributed to ordinary profit while recording of impairment loss affected profit.

• ✓ Both revenue and profit are forecasted to increase in FY02/23.

  • • For Hotto Motto and YAYOI stores, we will continue implementing and reinforcing measures from the previous fiscal year in an aim to increase net sales at existing stores while building a mechanism toward opening new stores in the future. This assumes the impact of COVID-19 will continue until April.

  • • Earnings forecasts are based on information available at the time of forecast preparation.

    This is due to the recovery of sales and improvement of gross profit in YAYOI, MK RESTAURANTS and Overseas Business segments. At the same time, we will pursue strategic investments to expand the number of new stores going forward.

1. Financial Results for FY02/22

• 2. Growth Strategies

• 3. Forecast for FY02/23

• 4. Distribution of Profits

• 5. Supplementary Materials

Revenue and profit increased due to improved gross profit and higher net sales at existing stores of Hotto Motto.

Ordinary profit increased mainly due to the recording of 2,606 million yen in subsidy income, and profit was

affected mainly by the recording of 2,980 million yen in impairment loss.

(Millions of yen, %)
Actual CompositionAmount ratio	YoY Amount Composition ratioChange in amountChange in %	vs. Forecast AmountComposition ratioChange in amountChange in %
Net sales Gross profit SG&A Operating profit Ordinary profit Profit*	143,036 100.0 73,923 51.7 69,870 48.8 4,053 2.8 7,578 5.3 2,227 1.6	140,509 100.0 2,527 1.8 71,449 50.9 2,474 3.5 70,547 50.2 -676 -1.0 902 0.6 3,150 349.0 2,037 1.5 5,541 271.9 -2,545 -1.8 4,773 ―	145,230 100.0 -2,193 -1.5 75,130 51.7 -1,206 -1.6 69,730 48.0 140 0.2 5,400 3.7 -1,346 -24.9 6,040 4.2 1,538 25.5 2,510 1.7 -282 -11.2
* Profit attributable to owners of parent

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As a retail chain with functions as a manufacturer, we worked to maximize earnings and recorded higher revenue for the first time in three periods.

Operating profit and ordinary profit increased for the third consecutive period and profit increased for the second consecutive period, resulting in the Company returning to profitability for the first time in four periods.

02/18 02/19 02/20 02/21 02/22 Assessment
Consolidated net sales 145,709 153,914 149,572 140,509	143,036	On a recovery trend
YoY change for net sales at existing storesHotto Motto YAYOI 97.2% 97.9% 101.6% 100.6% 99.6% 103.6% 96.2% 77.9%	104.1% 100.8%	Hotto Motto posted stronger results
RC ratio Hotto Motto YAYOI 33.8% 68.9% 32.3% 65.0% 28.1% 25.4% 61.0% 70.7%	22.5% 73.0%	Hotto Motto increased efficiency
No. of stores Japan 3,107 3,161 2,941 2,891 Overseas 212 242 259 258	2,884 253	Focused on maximizing store profits while curbing store openings
Operating profit Ordinary profit Profit 4,979 5,261 2,351 -501 143 -2,926 348 902 729 2,037 -2,934 -2,545	4,053 7,578 2,227	Improved
ROA ROE 5.7% 3.6% 0.2% -4.7% 0.8% -5.1% 2.4% -4.8%	9.4% 4.4%	Efficiency improved 5