Consolidated Summary Report For the Fourth Quarter of the Fiscal Year Ending May 31, 2021

Notes:

1. Significant changes in subsidiaries during the period (changes in specific subsidiaries accompanied by changes in the scope of consolidation): None

1. Application of special accounting methods for presenting quarterly consolidated financial statements: None
2. Changes in accounting policies and accounting-based estimates, and restatements

1. Changes due to revision of accounting standards: None
2. Changes due to other reasons: None
3. Changes in accounting-based estimates: None
4. Restatements: None

• The current summary report is not subject to the quarterly review by certified public accountants or auditing firms.
• Cautionary statement regarding forecasts of operating results and special notes

(Forward-looking statements)

Forward-looking statements in these materials are based on information available to management at the time this report was prepared and assumptions that management believes are reasonable. This report is not promises by BOOKOFF GROUP HOLDINGS regarding future performance. Actual results may differ materially from those projected in the forward-looking statements due to a variety of factors.

(How to view supplementary materials for quarterly financial results)

Supplementary materials for the quarterly financial results will be disclosed today (May 13, 2021), using the Timely Disclosure network (TDnet).

BOOKOFF GROUP HOLDINGS LIMITED (9278)

Summary Report for the Fourth Quarter of May 2021 Fiscal Year

Table of Contents

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BOOKOFF GROUP HOLDINGS LIMITED (9278)

Summary Report for the Fourth Quarter of May 2021 Fiscal Year

1. Qualitative Information on Quarterly Consolidated Financial Performance

(1) Explanation of Results of Operations

Forward-looking statements in this Consolidated Summary Report are based on information available to management as of the end of the fourth quarter.

No year-on-year comparisons are shown because the fiscal year ending on May 31, 2021 is a 14 -month transitional fiscal period due to the change in the fiscal year.

Since the start of operations, the BOOKOFF Group has always been guided by the two corporate philosophies of "contributing to society through our business activities" and "the pursuit of employees' material and spiritual wellbeing." We are currently implementing a medium -term business plan that ends in the fiscal year ending on May 31, 2021, when we will celebrate our 30th anniversary. We are rededicating ourselves to our corporate philosophies and focusing our activities on the mission of "being a source of an enjoyable and prosperous life for many people."

Based on this mission, we will use our strengths in Japan's growing reuse market to become the leading reuse company with books as the core category. Our goal is to become the reuse store chain used by the largest number of customers as we adapt to changes in market conditions.

We have established two core strategies in order to accomplish this goal.

Core strategy I: Upgrade individual stores

We believe that upgrading reuse services in both our retail format and Internet platform is the starting point for becoming Japan's leading reuse company that serves the largest number of customers. We are working on improvements for all store format packages and services.

Core strategy II: Use all the BOOKOFF Group's strengths

In the past, the BOOKOFF Group provided separate services at stores and through channels other than stores. Now, we are creating an integrated framework that combines the platforms for members and buying and selling merchandise with systems that support these activities and with other items. In addition, every service will make full use of member and merchandise information, operational expertise, and other resources we have accumulated in every service category. The objective of these activities is to operate as "One BOOKOFF."

During the first twelve months of the current fiscal year, we opened three stores in total (BOOKOFF SUPER BAZAAR 1-Gou Kyoto Fushimi Store and BOOKOFF Onojo Mikasagawa Store in Japan, and Jalan Jalan Japan Tesco Rawang Store in Malaysia.)

Furthermore, we have continued to make substantial investments for improving services for app members and establishing a network of franchised stores using our e-purchasing system. Investments have been also used to create an omni-channel structure that utilizes the BOOKOFF Online website and to move forward with our O2O (online-to-offline) strategy. Conducting all business operations in a cohesive manner as "On e BOOKOFF" is the objective of all these initiatives.

In the first twelve months of the current fiscal year, the majority of stores directly operated by the BOOKOFF Group temporarily closed or closed only on weekends and holidays in April and May 2020 in response to the state of emergency in Japan and requests to companies to reduce or suspend business activiti es because of COVID-19. Most stores that altered operations are located in areas where governments made these requests. As a result, existing store sales were much lower than one year earlier. Starting in the middle of May, we reduced operating hours and sales areas at stores and began reopening most stores while taking many actions to prevent COVID-19 infection. Operations generally returned to normal in early June. From January to March 2021, during the second declaration of state of emergency, we continued to operate stores with the utmost care to prevent infection. Directly operated existing store sales in Japan of the BOOKOFF Group were far below sales one year earlier in April and May but sales from June to August and October 2020 and February and March 2021 were higher than one year earlier. Selling, general and administrative expenses were also lower than the previous fiscal year due to the impact of store closures and shortened business hours, as well as cost

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BOOKOFF GROUP HOLDINGS LIMITED (9278)

Summary Report for the Fourth Quarter of May 2021 Fiscal Year

control.

As a result, consolidated net sales amounted to ¥80,127 million. The BOOKOFF Group recorded an operating profit of ¥1,622 million, an ordinary profit of ¥2,135 million, and a loss attributable to owners of parent of ¥69 million.

The loss attributable to owners of parent was the result of recording extraordinary losses which include the loss on COVID-19 and impairment losses on goodwill related to consolidated subsidiary Jewelry Asset Managers Inc.

(2) Explanation of Cash Flows

Cash and cash equivalents ("net cash") at the end of the fourth quarter of the current fiscal year amounted to ¥6,634 million, an increase of ¥539 million from the end of the previous fiscal year.

Consolidated cash flows and the primary reasons for their fluctuation during the first twelve months of the current fiscal year are as follows:

(Cash Flows from Operating Activities)

Net cash provided by operating activities amounted to ¥2,855 million. There were positive factors including ¥1,470 million in depreciation, ¥674 million in impairment losses and profit before income taxes of ¥611 million.

(Cash Flows from Investing Activities)

Net cash used in investing activities amounted to ¥1,019 million. Negative factors included ¥544 million for the purchase of property, plant and equipment associated with new store openings, ¥ 353 million for the purchase of intangible assets related to additional investments in systems and ¥126 million for transfer of stores.

(Cash Flows from Financing Activities)

Net cash used in financing activities amounted to ¥1,289 million. Negative factors included net decrease in borrowings of ¥751 million due to the repayments, ¥418 million for repayments of lease obligations and ¥104 million for cash dividends paid.

(3) Explanation of Financial Position

(Current Assets)

Current assets at the end of the fourth quarter were ¥24,395 million, an increase of ¥690 million compared with ¥23,704 million at the end of the previous fiscal year. The major changes were a ¥539 million increase in cash and deposits and a ¥367 million increase in merchandise.

(Non-current Assets)

Non-current assets at the end of the fourth quarter were ¥16,393 million, a decrease of ¥1,437 million compared with ¥17,830 million at the end of the previous fiscal year. There was decreases of ¥431 million in property, plant and equipment, ¥793 million in intangible assets, and ¥211 million in investments and other assets.

(Liabilities)

Liabilities at the end of the fourth quarter were ¥28,071 million, a decrease of ¥615 million compared with ¥28,687 million at the end of the previous fiscal year. This was mainly attributable to decreases of ¥751 million in borrowings and ¥209 million in lease obligations in non-current liabilities, and an increase of ¥370 million in current liabilities.

(Net Assets)

Net assets at the end of the fourth quarter were ¥12,716 million, a decrease of ¥131 million compared with ¥12,848 million at the end of the previous fiscal year. Major components were dividend payments and the loss attributable to owners of parent.

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