Polaris Holdings Co., LtdTSE: 3010

Consolidated Financial Results for the Three Months Ended June 30, 2021(Under Japanese GAAP)

Aug 12, 2021 at 7:50 AM UTC · Issued by Polaris Holdings Co., Ltd

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.

August 12, 2021

	Consolidated Financial Results
	for the Three Months Ended June 30, 2021
	(Under Japanese GAAP)
Company name:	Polaris Holdings Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	3010
URL:	https://www.polaris-holdings.com
Representative:	Atsuo Umeki, President & Representative Director
Inquiries:	Satoshi Hosono, Director & CFO
Telephone:	+81-3-5822-3010

Scheduled date to file quarterly securities report:	August 13, 2021
Scheduled date to commence dividend payments:	―
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:	None

(Amounts are rounded off to the nearest million yen.)

1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)

		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent


Three months ended	Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen		%
June 30, 2021		764		104.7	(427)		-	(447)	-	(461)		-
June 30, 2020		373		(73.8)	(500)		-	(509)	-	(591)		-

Note: Comprehensive income	For the three months ended June 30, 2021:	¥(461) million	[-%]
		For the three months ended June 30, 2020:	¥(591) million	[-%]

	Basic earnings	Diluted earnings
		per share		per share

Three months ended				Yen			Yen
June 30, 2021				(7.81)			-
June 30, 2020				(11.02)			-

(2) Consolidated financial position

		Total assets		Net assets		Equity-to-asset ratio

As of		Millions of yen	Millions of yen		%
June 30, 2021				8,116			(1,245)		(15.4)
March 31, 2021				4,997			(784)		(15.8)

Reference: Equity
As of June 30, 2021:		¥(1,249) million
As of March 31, 2021:		¥(788) million

2. Cash dividends

		Annual dividends per share

	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total

	Yen	Yen	Yen	Yen	Yen
Fiscal year ended	-	0.00	-	0.00	0.00
March 31, 2021

Fiscal year ending	-

March 31, 2022

Fiscal year ending
March 31, 2022		0.00	-	0.00	0.00
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Given the current situation regarding COVID-19 and the potential impact on the Group's business activities for the fiscal year ending March 31, 2022, it is difficult to reasonably estimate consolidated earnings forecasts at this time. As a result, the Group has made the decision to not disclose earnings forecasts at this time. An announcement will be made as soon as disclosure of earnings forecasts can be made.

* Notes

Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation):None
Newly included: - companies
Excluded: - companies
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatement: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2021	59,018,889 shares
As of March 31, 2021	59,018,889 shares

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

As of June 30, 2021	1,625 shares

As of March 31, 2021	1,625 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2021	59,017,264 shares

Three months ended June 30, 2020	53,639,216 shares

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
Given the current situation regarding COVID-19 and the potential impact on the Group's business activities for the fiscal year ending March 31, 2022, it is difficult to reasonably estimate consolidated earnings forecasts at this time. As a result, the Group has made the decision to not disclose earnings forecasts at this time. An announcement will be made as soon as disclosure of earnings forecasts can be made.

Quarterly Consolidated Financial Statements

1) Quarterly Consolidated Balance Sheets

			(Thousands of yen)
		As of March 31, 2021	As of June 30, 2021

Assets
Current assets
Cash and deposits		1,839,505	1,587,078
Notes and accounts receivable - trade	334,446	291,250
Real estate for sale		39,123	2,799,821
Raw materials and supplies	22,337	18,252
Other		279,556	597,678
Allowance for doubtful accounts		△255	△341
Total current assets		2,514,713	5,293,738
Non-current assets
Property, plant and equipment
Buildings and structures, net	463,366	458,361
Land		248,123	248,123
Other, net	494,840	477,040
Total property, plant and equipment		1,206,330	1,183,525
Intangible assets
Other		15,150	14,001
Total intangible assets	15,150	14,001
Investments and other assets
Investment securities	17,009	211,846
Beneficial interests in real estate trust		642,048	634,304
Leasehold and guarantee deposits	582,243	735,217
Other		20,232	43,771
Allowance for doubtful accounts		△872	－
Total investments and other assets		1,260,660	1,625,138
Total non-current assets	2,482,140	2,822,664
Total assets		4,996,853	8,116,402

					(Thousands of yen)
			As of March 31, 2021		As of June 30, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade			282		218
Short-term borrowings	693,600	930,914
Current portion of long-term borrowings			367,160		403,340
Income taxes payable	22,062	6,133
Provision for shareholder benefit program			6,400		6,400
Other	783,053	723,303
Total current liabilities			1,872,556		2,070,309
Non-current liabilities
Convertible-bond-type bonds with share			900,000		900,000
acquisition rights

Long-term borrowings	1,628,879	3,999,620
Subordinated capital loans			950,000		950,000
Long-term deposits received			－	1,030,000
Retirement benefit liability			7,279		7,056
Asset retirement obligations	165,628	165,999
Other			256,944		238,555
Total non-current liabilities	3,908,730	7,291,230
Total liabilities			5,781,286		9,361,538
Net assets
Shareholders' equity
Share capital	429,830	429,830
Capital surplus			763,411		763,411
Retained earnings			△1,978,571		△2,439,273
Treasury shares			△2,988		△2,988
Total shareholders' equity			△788,318		△1,249,020
Accumulated other comprehensive income
Valuation difference on available-for-sale			142		141
securities

Total accumulated other comprehensive income			142		141
Share acquisition rights	3,742	3,742
Total net assets			△784,433		△1,245,136
Total liabilities and net assets		4,996,853	8,116,402

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