United Arrows : Financial Results for the First Quarter Ended June 30, 2022(Consolidated)

August 4, 2022

	Consolidated Financial Summary
	for the Three Months Ended June 30, 2022
		〔Japanese GAAP〕
		Note: Figures smaller than one million yen are rounded down.
Listed Company Name:	UNITED ARROWS LTD.
Securities Traded:	The Prime Market of the Tokyo Stock Exchange
Code Number:	7606
URL:	http://www.united-arrows.co.jp/en/
Representative:	Yoshinori Matsuzaki, Representative Director, President and CEO
Contact:	Takeo Nakazawa, Executive Officer and CFO
Telephone:	[phone]
Scheduled Date of Reporting Date:	August 12, 2022
Scheduled Date of Dividend Payment:	-
Supplementary materials for the financial results:	Yes
Holding of presentation of financial results:	Yes (for institutional investors and analysts)

1. Consolidated Business Results for the Three-Month Period of the Fiscal Year Ending March 31, 2023 (April 1, 2022 to June 30, 2022)

1. Consolidated Business Performance (aggregate)

(% indicates increase / decrease YoY)

	Total Sales		Operating Profit		Ordinary Profit		Net Income attributable
				to owners of parent
Three months ended	¥ million	%	¥ million	%	¥ million	%	¥ million	%
June 30, 2022	29,664	17.4	1,853	－	2,093	－	1,323	－
June 30, 2021	25,264	13.8	(903)	－	(718)	－	(648)	－

(Note) Comprehensive income:							As of June 30, 2022: ¥1,241million [(－%)]
								As of June 30, 2021: ¥(692)million [(－%)]
		Net Income per	Net Income per Share
			after Adjusting for
			Share
				Dilutive Effects
Three months ended		yen				yen
June 30, 2022	46.45				－
		(22.72)
June 30, 2021					－
(Note) There are no dilutive shares.
(2) Consolidated Financial Conditions
			Total Assets			Net Assets	Equity Ratio	Per-share net worth
			¥ million			¥ million	%	¥
As of June 30, 2022	54,722	30,983	56.6	1,087.33
As of March 31, 2022		59,703		30,069	50.4	1,055.23

(Reference) Shareholders' equity: June 30, 2022: ¥30,983 million March 31, 2022: ¥30,069 million

2. Conditions of Dividend Payment

				Annual Dividend
	1Q End	2Q End		3Q End		Fiscal Year End	Annual
	yen	yen		yen		yen	yen
Fiscal year ended March 31, 2022	-	7.00	-	12.00	19.00
Fiscal year ending March 31, 2023	-
Fiscal year ending March 31, 2023 (Est.)		12.00		-		20.00	32.00

(Note) Revision to recently disclosed projected dividend payment: None

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3. Projected Consolidated Performance of the Fiscal Year Ending March 2022 (From April 1, 2022 to March 31, 2023)

															(% indicates increase / decrease YoY)
															Net Income		Net Income
				Total Sales			Operating Profit			Ordinary Profit		attributable to
										per share
															owners of parent
				¥ million	%			¥ million	%			¥ million	%		¥ million	%		yen
	Full Fiscal Year			130,000	9.8			4,800	185.2			5,230	85.0		3,000	309.4		105.28

(Note) Revision to recently disclosed projected consolidated performance: None

4. Others

1. Changes in Significant Subsidiaries during the Current Quarter: None (Changes in special subsidiaries that caused a change in scope of consolidation)
2. Adoption of Special Accounting Methods for Preparing Quarterly Consolidated Financial Statements: None
3. Changes in Accounting Principles, Procedures, Methods of Presentation and Other Items

1. Changes due to revision of accounting standards: None
2. Changes other than 1: None
3. Changes in accounting estimates: None
4. Restatement of prior period financial statements after error corrections: None

1. Number of Shares Issued (Common Stocks)

1.	Number of shares issued at the end of the period (including treasury stock)
	As of June 30, 2022:	30,213,676 shares
	As of March 31, 2022:	30,213,676 shares
2.	Number of treasury stocks at the end of the period
	As of June 30, 2022:	1,718,367shares
	As of March 31, 2022:	1,718,367 shares

3. Average number of shares during the period
Three months ended June 30, 2022:	28,495,309 shares
Three months ended June 30, 2021:	28,534,303 shares

*The quarterly financial statements are not subject to quarterly reviews.

*Explanation regarding appropriate use of projected business performance

The above projection was made based on information available at present. Please note in advance that potential risks and uncertainties are included. The actual figures might differ from the figures stated above due to any possible factor.

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Consolidated Financial Results

(1) Quarterly Consolidated Balance Sheet

		(millions of yen)
	At the end of	At the end of
	the previous fiscal year	the first quarter
	(March 31, 2022)	(June 30, 2022)
Assets
Current assets
Cash and deposits	5,593	3,319
Notes and accounts receivable-trade	184	124
Merchandise	20,030	18,611
Supplies	516	527
Accounts receivable-other	11,385	10,846
Other	765	822
Total current assets	38,475	34,252
Noncurrent assets
Tangible noncurrent assets
Buildings and structures (net)	3,493	3,401
Machinery and equipment (net)	808	774
Land	569	569
Construction in progress	12	1
Other (net)	345	318
Total tangible noncurrent assets	5,229	5,066
Intangible noncurrent assets
Other	1,356	1,353
Total intangible noncurrent assets	1,356	1,353
Investments and other assets
Guarantee deposits	7,049	7,008
Deferred tax assets	4,141	3,662
Other	3,453	3,380
Allowance for doubtful accounts	(1)	(1)
Total investments and other assets	14,642	14,050
Total noncurrent assets	21,228	20,470
Total assets	59,703	54,722
Liabilities
Current liabilities
Notes and accounts payable-trade	8,858	7,435
Short-term loans payable	7,800	5,500
Accounts payable	4,434	2,795
Income taxes payable	662	343
Provision for bonuses	801	462
Provision for directors' bonuses	-	6
Asset retirement obligations	79	76
Other	2,801	2,897
Total current liabilities	25,437	19,518
Noncurrent liabilities
Asset retirement obligations	4,164	4,187
Other	32	32
Total noncurrent liabilities	4,197	4,220
Total liabilities	29,634	23,738
Net assets
Shareholders' equity
Capital stock	3,030	3,030
Capital surplus	4,415	4,430
Retained earnings	27,771	28,753
Treasury stock	(5,006)	(5,006)
Total shareholders' equity	30,210	31,206
Accumulated other comprehensive income
Foreign currency translation adjustment	(141)	(223)
Total accumulated other comprehensive income	(141)	(223)
Total net assets	30,069	30,983
Total liabilities and net assets	59,703	54,722

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1. Statements of Consolidated Income and Comprehensive Income Statements of Consolidated Income

First Quarter (Three Months Aggregate)		(millions of yen)
	Three months ended	Three months ended
	June 30, 2021	June 30, 2022
	(April 1, 2021 to	(April 1, 2022 to
	June 30, 2021)	June 30, 2022)
Net sales	25,264	29,664
Cost of sales	12,265	13,482
Gross profit	12,998	16,181
Selling, general and administrative expenses	13,902	14,328
Operating income (loss)	(903)	1,853
Non-operating income
Interest income	0	0
Foreign exchange gains	40	118
Purchase discounts	14	14
Rent income	3	3
Share of profit of entities accounted for using equity method	116	61
Other	28	56
Total non-operating income	202	253
Non-operating expenses
Interest expenses	7	4
Rent expenses	3	3
Other	5	6
Total non-operating expenses	16	13
Ordinary income (loss)	(718)	2,093
Extraordinary loss
Loss on retirement of noncurrent assets	17	-
Impairment loss	26	56
Office relocation expenses	3	-
Total extraordinary loss	47	56
Income (loss) before income taxes	(766)	2,037
Income taxes-current	31	234
Income taxes-deferred	(149)	478
Total income taxes	(117)	713
Net income (loss)	(648)	1,323
Net income (loss) attributable to owners of parent	(648)	1,323

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Statements of Consolidated Comprehensive Income

First Quarter (Three Months Aggregate)		(millions of yen)
Three months ended		Three months ended
June 30, 2021		June 30, 2022
(April 1, 2021 to		(April 1, 2022 to
June 30, 2021)		June 30, 2022)
Net income (loss)	(648)	1,323
Other comprehensive income
Foreign currency translation adjustment	(44)	(81)
Total other comprehensive income	(44)	(81)
Comprehensive income	(692)	1,241
Comprehensive income attributable to:
Owners of the parent company	(692)	1,241
Non-controlling interests	-	-

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