V Technology : (Updated) Correction of “Report of Consolidated Financial Results for the Year ended March 31, 2022”

June 28, 2022 Company name: V Technology Co., Ltd.

Name of representative: Shigeto Sugimoto, President and CEO (Securities code: 7717; Prime Section of the Tokyo Stock Exchange) Inquiries: Shogo Yoshimura, Group leader of Office of Presidents (Telephone: [phone])

Correction of "Report of Consolidated Financial Results for the Year ended March 31, 2022"

We hereby announce the corrections of "Consolidated Financial Statements for Fiscal Year Ended March 31, 2022" disclosed on May 13, 2022 as shown below.

１．Reasons for the corrections

After the May 13 release of "Consolidated Financial Statements for Fiscal Year Ended March 31, 2022",errors were found in the Consolidated statement of comprehensive income and the related corrections have been as follows.

２． Corrections

The corrections are underlined.

※The full report with the above corrections is available at our website. https://www.vtec.co.jp/ja/ir/news.htmlAttached materials page9, Consolidated statement of comprehensive income

Before correction		(Millions of yen)
		Fiscal year ended		Fiscal year ended
		March 31, 2021		March 31, 2022
Profit	4,592	4,255
Other comprehensive income
Valuation difference on available-for-sale securities	7	72
Foreign currency translation adjustment	423	148
Total other comprehensive income	430	221
Comprehensive income	5,022	4,476
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,866	4,353
Comprehensive income attributable to non-controlling interests	1,156	123
After correction		(Millions of yen)
	Fiscal year ended		Fiscal year ended
	March 31, 2021		March 31, 2022
Profit		4,592		4,255
Other comprehensive income
Valuation difference on available-for-sale securities		7		72
Foreign currency translation adjustment	423		457
Total other comprehensive income		430		530
Comprehensive income	5,022		4,785
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,866		4,735
Comprehensive income attributable to non-controlling interests		1,156		50

＜Revised＞

Consolidated Financial Statements for Fiscal Year Ended March 31, 2022

〔under Japanese GAAP〕

Registered Company Name: V-Technology Co., Ltd.

Code Number: 7717, Tokyo Stock Exchange

URL: https://www.vtec.co.jp

Representative: Shigeto Sugimoto (President & CEO)

May 13, 2022

Contact: Shogo Yoshimura (Leader of IR Group, Office of the President) TEL: [phone]

Planned Date for annual general shareholder's meetng: June 28, 2022

Planned Date for Submission of the Securities Report: June 29, 2022

Planned Date for Start of Dividend Payment: June 29, 2022

Supplementary materials for the financial statements: Yes

Briefing session on financial results: Yes(for institutional investors)

(Amounts less than one million yen have been omitted.)

1. Business Performance(April 1, 2021 through March 31, 2022)

(1) Consolidated Results of Operations	12 months ended
	March 31 ,2021		March 31 ,2022
		YoY(%)		YoY(%)
Net sales (Millions of Yen)	55,186	1.6	51,418	△ 6.8
Operating profit (Millions of Yen)	6,604	16.8	5,461	△ 17.3
Ordinary profit (Millions of Yen)	6,836	11.1	5,868	△ 14.2
Net profit attributable to owners of the parent (Millions of Yen)	3,513	8.1	4,198	19.5
Net profit per share (Yen)	363	‐	434	‐
*Notes: Comprehensive Income	5,022	29.4	4,786	△ 4.7
Net profit per share (Yen)	363	‐	434	‐
Diluted net profit per share (Yen)	-	‐	-	‐
Return (net profit) on equity (%)	12	‐	13	‐
Return (ordinary profit) on assets (%)	9	‐	8	‐
Return (operating profit) on sales (%)	12	‐	11	‐
*Reference: Income or loss on investments(Million JPY):	△ 94	‐	△ 64	‐

(2) Consolidated Financial Position

	As of		As of
	March 31 ,2021		March 31 ,2022
Total assets (Millions of Yen)	80,591		72,601
Net assets (Millions of Yen)	32,915		34,540
Equity ratio	38.8	％	47.1	％
Net assets per share	3,233.74	Yen	3,534.40	Yen
*Reference: Shareholders' equity (Millions of Yen)	31,268		34,175

(3) Consolidated Cash Flows

	12 months ended
	March 31 ,2021	March 31 ,2022
Cash flows from operating activities (Millions of Yen)	20,173	1,374
Cash flows from investing activities (Millions of Yen)	△ 1,251	△ 1,521
Cash flows from financing activities (Millions of Yen)	1,972	△ 5,839
Year end balance of cash and cash equivalents (Millions of Yen)	33,158	27,778

2. Dividends

3. Forecast for the Fiscal Year ending March 31, 2022 (April 1, 2021 through March 31, 2022)

(%: Changes from corresponding period of previous fiscal year)

Net sales (Millions of Yen)

Operating profit (Millions of Yen)

Ordinary profit (Millions of Yen)

Net profit attributable to owners of the parent (Millions of Yen)

Net profit per share (Yen)

45,000 △ 12.5

4,500 △ 17.6

4,400 △ 25.0

2,900 △ 30.9

299.92 ー

1. Changes in significant subsidiaries during the nine months ended March 31, 2022 (Changes in certain subsidiaries resulting in change in the scope of consolidation): None
2. Changes in accounting policies, Changes in accounting estimates, or Restatement
3. 1. Changes in accounting policies due to changes in accounting standards: Yes
   2. Changes other than "a." above: None
   3. Changes in accounting estimates: None
   4. Restatements: None
4. Number of Shares Outstanding (Common stock)

			Number of shares		Number of shares
1.	Number of shares outstanding at end of year (Including treasury stock)	As of March 31,	10,057,600	As of March 31,	10,057,600
2022	2021:
2.	Number of treasury shares at end of year	As of March 31,	388,195	As of March 31,	388,135
2022	2021:
3.	Average number of shares outstanding (Cumulative quarterly period)	As of March 31,	9,669,444	As of March 31,	9,669,478
2022	2021

*Reference: Overview of non-consolidated performance (April 1, 2021 through March 31, 2022)

(1) Non-consolidated operating results

	Year ended(%: Changes from previous fiscal year)
	March 31 ,2021		March 31 ,20212
		%		%
Net sales (Millions of Yen)	48,615	1.4	39,366	△ 19.0
Operating profit (Millions of Yen)	6,496	31.9	4,269	△ 34.3
Ordinary profit (Millions of Yen)	7,317	29.4	5,447	△ 25.6
Net profit attributable to owners of the parent (Millions of Yen)	5,411	45.9	3,791	△ 29.9
Net profit per share (Yen)	559.66	ー	392.14	ー
Diluted net profit per share (Yen)	ー	ー	ー	ー

(2) Non-consolidated financial position

	As of		As of
	March 31 ,2021		March 31 ,2022
Total assets (Millions of Yen)	71,398		64,886
Net assets (Millions of Yen)	30,389		32,980
Equity ratio	42.6 %	50.8	％
Net assets per share	3,142.19	Yen	3,410.78	Yen
*Reference: Shareholders' equity (Millions of Yen)	30,383		32,980

*Brief Report of Financial Results is not subject to an audit by a certified public accountant or an audit corporation.

• The forward-looking statements in this document, including earnings forecasts, are based on information currently available to the Company and certain assumptions that the Company believes to be reasonable.Actual results may differ materially from these statements due to a variety of factors. For the assumptions underlying the forecasts and precautions regarding their use, please refer to "1. Operating Results (4) Outlook" on page 3 of the attached materials.

Index

１．Outlook of Operating Performance and Financial Positionr	5~7
(1)Outlook of Operating Performance	5~6
(2)Outlook of Assets, Liabilities and Net Assets	6
(3)Outlook of Cash Flows	6~7
(4)Outlook of Consolidated Forecast and Other Forecasts	7
(5)Basic Policy of Profit Sharing and Dividends for the Current and the Next Fiscal Years	7
2．Basic Rationale for Section of Accounting Standards	7
3．Consolidated Financial Statements and Major Notes	8~19
（1）Consolidated Balance Sheets	8~9
（2) Consolidated Statements of Income	10~11
	10
	11
(3) Consolidated statement of shareholders' equity	11~13
(4) Consolidated Statements of Cash Flows	14~15
(5) Notes on Consolidated Financial Statements	16~19
	16
	16
	16
	16
	17~18
	19
	19