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    3491   JP3386670008

GA TECHNOLOGIES CO., LTD.

(3491)
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GA technologies : Summary of Consolidated Financial Results for the Year Ended October 31, 2021(Based on Japanese GAAP)

12/15/2021 | 01:29am EDT

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Year Ended October 31, 2021

(Based on Japanese GAAP)

December 15, 2021

Company name:

GA technologies Co., Ltd.

Stock exchange listing:

Tokyo Stock Exchange

Stock code:

3491

URL:

https://www.ga-tech.co.jp/

Representative:

RYO HIGUCHI, President and Chief Executive Officer

Contact person:

SATOSHI MATSUKAWA, Executive Officer and Chief Accounting Officer

TEL03-6230-9180

Scheduled date to file Securities Report:

January 27, 2022

Scheduled date to file Securities Report:

January 28, 2022

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of financial results meeting:

Yes

(for institutional investors and analysts, in Japanese)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended October 31, 2021 (November 1, 2020 to October 31, 2021)

(1) Consolidated operating results

(Percentage figures are the changes from the same period prior year)

Revenue

EBITDA※

Operating profit

Ordinary profit

Profit attributable

to owners of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Year ended October 31, 2021

85,388

35.4

1,466

(48.8)

(39)

-

(431)

-

(1,269)

-

Year ended October 31, 2020

63,070

60.5

2,861

72.5

1,888

58.3

1,654

62.3

903

77.2

※EBITDA = Operating profits + Depreciation (Operating expenses) + Amortization of Goodwill

(NOTE) Comprehensive income: Year ended October 31, 2021

(1,246) million yen [-%]

Year ended October 31, 2020

893 million yen [76.3%]

Diluted earnings

Return on

Ratio of ordinary

Ratio of operating

Earnings per share

Income

per share

equity

income to net sales

to total assets

Yen

Yen

%

%

%

Year ended October 31, 2021

(37.81)

-

(9.8)

(1.8)

(0.0)

Year ended October 31, 2020

31.25

29.42

14.0

10.9

3.0

(NOTE) 1.Despite the existence of diluted shares, Diluted earnings per share for the year ended October 31, 2021 are not stated since negative Earnings per share are recorded.

2.The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. Earnings per share and Diluted earnings per share have been calculated on the assumption that this stock split was conducted at the beginning of the previous year.

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen

%

Yen

As of October 31, 2021

30,177

18,733

62.0

532.67

As of October 31, 2020

18,584

7,137

38.4

242.84

(REFERENCE) Equity capital: As of October 31, 2021

18,724 million yen

As of October 31, 2020

7,137 million yen

(NOTE) The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. Net assets per shared has been calculated on the assumption that this stock split was conducted at the beginning of the previous year.

(3) Consolidated cash flows

Cash flows form

Cash flows from

Cash flows from

Cash & cash equivalents

operating activities

investing activities

financing activities

at the end of period

Million yen

Million yen

Million yen

Million yen

Year ended October 31, 2021

(390)

(1,958)

11,305

15,275

Year ended October 31, 2020

2,312

(3,766)

3,545

6,318

1

2. Cash dividends

Dividends per share

Total

Dividends

Ratio of

amount

dividends

1st

2nd

3rd

payout

Fiscal

of

to net

quarter-

quarter-

quarter-

Total

ratio

year-end

dividends

assets

end

end

end

(Consolidated)

(Annual)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Year ended October 31, 2020

-

0.00

-

0.00

0.00

-

-

-

Year ended October 31, 2021

-

0.00

-

0.00

0.00

-

-

-

Year ending October 31, 2022 (Forecast)

-

-

-

-

-

-

(NOTE) The Articles of Incorporation provide for dividends with record dates at the end of each second quarter and fiscal year. Currently, the forecast for dividends with these record dates for the fiscal year ending October 31, 2021 has not been determined.

3. Forecast of consolidated financial results for the fiscal year ending October 31, 2022 (November 1, 2021 to October 31, 2022) (Percentage figures are the changes from the same period prior year)

Revenue

EBITDA※

Operating profit

Profit attributable to

Basic earnings

owners of parent

per share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Full year

110,000

-

4,000

-

57

-

(700)

-

(19.77)

※EBITDA = Operating profits + Depreciation (Operating expenses)

(NOTE) The Group has decided to voluntarily apply the International Financial Reporting Standards (IFRS) from the three months ending October 31, 2022 for its consolidated financial statements. The forecast above is based on IFRS and therefore the change ratio from the actual results of the fiscal year ended October 31, 2021 under the Japanese accounting standards to the forecast is not shown here.

4. Notes

(1) Changes in significant subsidiaries during the year ended October 31, 2021

Not applicable

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:

Not applicable

Changes in accounting policies due to other reasons:

Not applicable

Changes in accounting estimates:

Not applicable

Restatement of prior period financial statements:

Not applicable

(3) Number of issued shares (common stock)

Total number of issued shares at the end of the period (including treasury shares):

As of October 31, 2021

35,152,375 shares

As of October 31, 2020

29,393,115 shares

Total number of treasury shares at the end of the period:

As of October 31, 2021

682 shares

As of October 31, 2020

621 shares

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

As of October 31, 2021

33,559,888 shares

As of October 31, 2020

28,921,561 shares

(NOTE) The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. The total number of issued shares at the end of the period, Total number of treasury shares at the end of the period and Average number of shares during the period have been calculated on the assumption that this stock split was conducted at the beginning of the previous year.

2

Consolidated Financial Statements

Consolidated Balance Sheets

(Million yen)

As of October 31, 2020

As of October 31, 2021

Assets

Current assets

Cash and deposits

6,386

15,393

Accounts receivable - trade

147

185

Real estate for sale

1,386

2,795

Costs on uncompleted construction contracts

8

21

Supplies

48

32

Advance payments - trade

137

230

Prepaid expenses

270

263

Other

149

584

Allowance for doubtful accounts

(81)

(102)

Total current assets

8,453

19,405

Non-current assets

Property, plant and equipment

Buildings

866

986

Accumulated depreciation

(113)

(157)

Buildings, net

753

829

Vehicles

13

14

Accumulated depreciation

(6)

(9)

Vehicles, net

6

5

Tools, furniture and fixtures

171

215

Accumulated depreciation

(74)

(112)

Tools, furniture and fixtures, net

97

103

Leased assets

263

342

Accumulated depreciation

(61)

(104)

Leased assets, net

202

237

Construction in progress

170

178

Total property, plant and equipment

1,230

1,354

Intangible assets

Goodwill

3,762

4,554

Software

2,542

2,276

Software in progress

57

167

Other

1,086

938

Total intangible assets

7,449

7,937

Investments and other assets

Investment securities

410

362

Long-term time deposits

10

10

Leasehold and guarantee deposits

892

945

Long-term loans receivable

-

29

Deferred tax assets

54

32

Other

83

100

Total investments and other assets

1,450

1,480

Total non-current assets

10,130

10,772

Total assets

18,584

30,177

3

(Million yen)

As of October 31, 2020

As of October 31, 2021

Liabilities

Current liabilities

Short-term loans payable

1,503

300

Current portion of long-term loans payable

949

1,147

Current portion of bonds

40

2,050

Lease obligations

58

75

Accounts payable - other

988

1,558

Advances received on uncompleted construction

2

21

contracts

Income taxes payable

661

1

Accrued consumption taxes

210

85

Provision for fulfillment of guarantees

15

7

Provision for after-sales service

8

65

Deposits received

1,074

1,366

Other

210

235

Total current liabilities

5,723

6,914

Non-current liabilities

Bonds payable

2,110

405

Long-term loans payable

2,383

2,722

Lease obligations

149

152

Deferred tax liabilities

337

293

Provision for vacancy loss

77

61

Asset retirement obligations

407

431

Other

256

461

Total non-current liabilities

5,722

4,529

Total liabilities

11,446

11,443

Net assets

Shareholders' equity

Capital stock

1,182

7,219

Capital surplus

3,931

10,727

Retained earnings

2,039

770

Treasury shares

(0)

(0)

Total shareholders' equity

7,152

18,715

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

(14)

7

Foreign currency translation adjustment

-

0

Total accumulated other comprehensive income

(14)

8

Share acquisition rights

0

9

Total net assets

7,137

18,733

Total liabilities and net assets

18,584

30,177

4

Consolidated Statements of Income and Comprehensive Income

Consolidated Statements of Income

(Million yen)

Year ended

Year ended

October 31, 2020

October 31, 2021

Net sales

63,070

85,388

Cost of sales

53,208

73,940

Gross profit

9,861

11,447

Selling, general and administrative expenses

7,973

11,487

Operating profit (loss)

1,888

(39)

Non-operating income

Interest income

0

0

Other

17

23

Total non-operating income

17

24

Non-operating expenses

Interest expenses

67

65

Commission fee

121

254

Bond issue expenses

21

6

Share issue expenses

-

63

Other

42

25

Total non-operating expenses

251

416

Ordinary profit (loss)

1,654

(431)

Extraordinary losses

Impairment loss

60

621

Loss on sales and retirement of non-current assets

0

1

Loss on valuation of investment securities

-

101

Other

1

27

Total extraordinary losses

61

752

Profit (loss) before income taxes

1,592

(1,183)

Income taxes - current

805

107

Income taxes - deferred

(116)

(21)

Total income taxes

688

85

Profit (loss)

903

(1,269)

Profit (loss) attributable to owners of parent

903

(1,269)

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

GA Technologies Co. Ltd. published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 06:28:12 UTC.


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Ryo Higuchi Executive President, CEO & Representative Director
Masaru Higuchi Director, Head-Personnel & Information Systems
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