TeamSpirit : Consolidated Financial Results for the Fiscal Year Ended August 31, 2021 (Under Japanese GAAP)

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.

October 13, 2021

	Consolidated Financial Results
	for the Fiscal Year Ended August 31, 2021
	(Under Japanese GAAP)
Company name:	TeamSpirit Inc.
Listing:	Tokyo Stock Exchange
Securities code:	4397
URL:	https://corp.teamspirit.com/ja-jp/
Representative:	Koji Ogishima, CEO
Inquiries:	Yasufumi Yamashita, Director, Strategic Planning & Corporate
Telephone:	[phone]

Scheduled date of annual general meeting of shareholders:	November 30, 2021
Scheduled date to commence dividend payments:	-
Scheduled date to file annual securities report:	November 30, 2021
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	Yes (for institutional investors and analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended August 31, 2021 (from September 1, 2020 to August 31, 2021)

(1) Consolidated operating results										(Percentages indicate year-on-year changes.)
		Net sales				Operating profit		Ordinary profit		Profit attributable to
								owners of parent
Fiscal year ended	Millions of yen				%	Millions of yen	%		Millions of yen	%		Millions of yen	%
August 31, 2021		2,896		18.5		169		-40.9			174	-40.4			122	-51.9
August 31, 2020		2,445		-			285		-			292	-			255	-
Note: Comprehensive income	For the fiscal year ended August 31, 2021:		¥124 million	[-51.3%]
		For the fiscal year ended August 31, 2020:		¥255 million			[-%]
	Basic earnings			Diluted earnings		Return on equity		Ratio of ordinary		Ratio of operating
	per share				per share			profit to total assets		profit to net sales
Fiscal year ended			Yen				Yen					%			%			%
August 31, 2021		7.57					7.56				8.1				5.8			5.8
August 31, 2020		15.81					15.71				19.9			11.3			11.7
Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended August 31, 2021:	¥- million
For the fiscal year ended August 31, 2020:	¥- million

Note: Year-on-year change percentages of fiscal year ended August 31, 2020 are not stated, because the Company had prepared the consolidated financial statements since FY2020.

(2) Consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
August 31, 2021	3,171	1,577	49.7	97.20
August 31, 2020	2,810	1,445	51.4	89.26
Reference: Equity
As of August 31, 2021:	¥1,577 million
As of August 31, 2020:	¥1,445 million

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at end of
	operating activities	investing activities	financing activities
	period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
August 31, 2021	265	-0	7	2,447
August 31, 2020	395	-86	-41	2,173

2. Cash dividends

		Annual dividends per share		Total cash		Ratio of
						Payout ratio	dividends to
	First	Second	Third	Fiscal		dividends
	Total	(Consolidated)	net assets
	quarter-end	quarter-end	quarter-end	year-end	(Total)
			(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	0.00	-	0.00	0.00	-	-	-
August 31, 2020
Fiscal year ended	-	0.00	-	0.00	0.00	-	-	-
August 31, 2021
Fiscal year ending
August 31, 2022	-	0.00	-	0.00	0.00		-
(Forecast)

3. Consolidated earnings forecasts for the fiscal year ending August 31, 2022 (from September 1, 2021 to August 31, 2022)

(Percentages indicate year-on-year changes.)

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Basic earnings
				owners of parent	per share
	Millions of		%	Millions of		%	Millions of		%	Millions of	%	Yen
	yen		yen		yen		yen
Fiscal year ending	3,300		-	-200		-	-200		-	-140	-	-8.63
to			to			to			to		to
August 31, 2022		-		-		-	-
3,350		-150		-150		-105	-6.47

Note: 1. Consolidated earnings forecasts for the fiscal year ending August 31, 2022 are stated in range format considering impacts of changes in business environment.

2. As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending August 31, 2022, the amounts of the above consolidated earnings forecasts reflect the application of the said accounting standard, etc., and the percentages indicating year-on-year changes are not stated.

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): 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: None
   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 August 31, 2021	16,227,600 shares
As of August 31, 2020	16,195,200 shares

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

As of August 31, 2021	315 shares
As of August 31, 2020	276 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended August 31, 2021	16,224,431 shares
Fiscal year ended August 31, 2020	16,157,329 shares

[Reference] Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended August 31, 2021 (from September 1,2020 to August 31, 2021)

(1) Non-consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen	%
August 31, 2021	2,896		18.5	152		-44.0	160	-42.4	109	-54.9
August 31, 2020	2,445		34.3	272		12.0	279	14.5	242	8.4
	Basic earnings	Diluted earnings
	per share		per share
Fiscal year ended			Yen			Yen
August 31, 2021			6.75			6.74
August 31, 2020			15.03			14.94
(2) Non-consolidated financial position
	Total assets		Net assets		Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen		%		Yen
August 31, 2021			3,125			1,550		49.6		95.53
August 31, 2020			2,774			1,433		51.6		88.49

Reference: Equity
As of August 31, 2021:	¥1,550 million
As of August 31, 2020:	¥1,433 million

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Statement regarding appropriate use of forward-looking statements and other notes
  Forward-looking statements, including the consolidated earnings forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Thus, the Company does not intend to commit future accomplishment. Accordingly, actual business results may differ substantially from the Company's current assessment.

TeamSpirit Inc. (TSE 4397)

Consolidated Financial Results for FY2021 Q4

Attached Material

1. Consolidated financial statements and primary notes ……………………………………………………. 2

1. Consolidated balance sheet……………………………………………………………………………. 2

(2)	Consolidated statements of income and comprehensive income ……………………………………...	3
	Consolidated statement of income …………………………………………………………………	3
	Consolidated statement of comprehensive income ………………………………………………...	4
(3)	Consolidated statement of changes in equity …………………………….……………………………	5
(4)	Consolidated statement of cash flows …………………………………………………………………	6
(5)	Notes to the consolidated financial statements ………………………………………………………...	7
	(Notes regarding going concern assumption) …………………………………………………………	7
	(Changes in accounting policies) ……………………………………………………………………...	7
	(Changes in accounting estimates) ……………………………………………………………………	7
	(Segment information) ………………………………………………………………………………..	7
	(Per share information) ………………………………………………………………………………..	7
	(Significant events after reporting period)…………………………………………………………….	7

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