Feedforce : ［Delayed］Consolidated Financial Results for the Nine Months Ended February 28,2022(Under Japanese GAAP)

About this update from Feedforce Group Inc.

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. March31, 2022 Consolidated Financial Results for the Nine Months Ended February 28, 2022 (Under Japanese GAAP) Company name: Feedforce Group Inc ． Listing: Tokyo Stock Exchange Securities code: 7068 URL: https://feedforcegroup.jp Representative: Koji Tsukada, Representative Director and President Inquiries: Shingo Nishiyama, Director and CFO Telephone: +81-3-5846-7016 Scheduled date to file quarterly securities report: Scheduled date to commence dividend payments: April 14, 2022 － Preparation of supplementary material on quarterly financial results: Yes Holding of quarterly financial results briefing: Yes (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the nine months ended February 28, 2022 (from June 1, 2021 to February 28, 2022) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales EBITDA Operating profit Ordinary profit Profit attributable to owners of parent Nine months ended February 28, 2022 February 28, 2021 Millions of yen 2,112 ％ Millions of yen － ％ Millions of yen 851 17.6 1,859 102.5 724 192.1 713 19.2 598 173.5 ％ Millions of yen 699 585 19.5 254.7 ％ Millions of yen 433 ％ 38.7 312 415.7 Note: Comprehensive income For the nine months ended February 28, 2022: ¥414 million [21.2%] For the nine months ended February 28, 2021: ¥341 million [267.6%] Basic earnings per share Diluted earnings per share Nine months ended February 28, 2022 February 28, 2021 Yen 16.69 12.62 Yen 16.26 12.14 Note: 1. As the "Accounting Standard for Revenue Recognition" will be applied from the fiscal year ending May 31, 2022, the percentage change from the previous fiscal year is not shown for net sales. 2. EBITDA is a sum of operating profit, depreciation, and amortization. 3. The Company conducted a 4-for-1 stock split of common stocks as of December 1, 2020. The "Basic earnings per share" and "Diluted earnings per share" is calculated assuming that the said stock split was conducted at the beginning of the previous consolidated fiscal year. (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of February 28, 2022 May 31, 2021 Millions of yen 7,788 6,467 Millions of yen 2,905 2,401 % 36.0 36.6 Reference: Equity As of February 28, 2022: ¥2,805 million As of May 31, 2021: ¥2,366 million 2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Fiscal year ended May 31, 2021 Fiscal year ending May 31, 2022 Yen － － Yen 0.00 0.00 Yen － － Yen 0.00 Yen 0.00 Fiscal year ending May 31, 2022 (Forecast) 0.00 0.00 Note: Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated earnings forecasts for the fiscal year ending May 31, 2022 (from June 1, 2021 to May 31, 2022) (Percentages represent year-on-year changes) Fiscal year ending May 31, 2022 (Forecast) Net sales Millions of yen ％ 2,966 － EBITDA Millions of yen 1,093 Operating profit ％ Millions of yen 3.3 859 Note: 1. Revisions to the earnings forecasts most recently announced: None Ordinary profit Profit attributable to owners of parent Basic earnings per share ％ Millions of yen ％ Millions of yen ％ △ 3.4 853 △ 2.5 517 9.5 2. Effective from the fiscal year ending May 31, 2022, the "Accounting Standard for Revenue Recognition" will be applied, and the above forecasts are based on figures after the application of the standard. Due to the adoption of this standard, the percentage of net sales increase/decrease from the previous year is not shown. 3. EBITDA is a sum of operating profit, depreciation, and amortization. Yen 19.95 * Notes (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes Newly included: ３ companies (Shippinno Inc,FEEDFORCE VIETNAM COMPANY LIMITED,FRACTA Inc.) Excluded: None (2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of February 28, 2022 26,014,400shares As of May 31, 2021 25,910,400shares (ii) Number of treasury shares at the end of the period As of February 28, 2022 42shares As of May 31, 2021 42shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Nine months ended February 28, 2022 25,952,008shares Nine months ended February 28, 2021 24,754,231shares * Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation. * Proper use of earnings forecasts, and other special matters Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Results may differ materially from the consolidated forecasts due to various factors. The Company changed its corporate name from Feedforce, Inc. to Feedforce Group, Inc. as of September 1, 2021, following the transition to a holding company structure.

View stock analysis, news, and events for Feedforce Group Inc.