プレナス（9945） – [Delayed]Summary of Consolidated Financial Results for the Nine Months Ended November 30, 2021 (Based on Japanese GAAP)

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 Nine Months Ended November 30, 2021 (Based on Japanese GAAP) January 14, 2022 Plenus Co., Ltd. 9945 President and Representative Director Accounting Division/IR Department Manager Company name: Stock code: Representative: Inquiries: Scheduled date to file Quarterly Securities Report: Scheduled date to commence dividend payments: Preparation of supplementary material on quarterly financial results: Holding of quarterly financial results meeting: Stock exchange listing: Tokyo URL: https://www.plenus.co.jp/ Tatsuo Shioi Toshiyuki Fujinami January 14, 2022 — Yes No TEL: 03(6892)0304 (Amounts less than one million yen are rounded down) 1. Consolidated financial results for the nine months ended November 30, 2021 (from March 1, 2021 to November 30, 2021) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes) Net sales Operating profit Ordinary profit Millions of yen % Millions of yen % Millions of yen % Millions of yen 106,994 1.9 3,239 – 6,305 856.7 105,019 (6.9) 186 11.2 Nine months ended November 30, 2021 Nine months ended November 30, 2020 659 3,630 million yen (825) million yen 7.1 (–%) (–%) Profit attributable to owners of parent % – – 3,456 (931) Nine months ended November 30, 2021 Nine months ended November 30, 2020 (Note) Comprehensive income: Earnings per share Diluted earnings per share Nine months ended November 30, 2021 Nine months ended November 30, 2020 (Note) Diluted earnings per share for the nine months ended November 30, 2020 are not stated, because although there are dilutive (24.31) 89.76 90.09 Yen Yen – shares the Company reported a net loss per share. (2) Consolidated financial position As of November 30, 2021 As of February 28, 2021 (Reference) Shareholders’ equity: 2. Cash dividends Total assets Net assets Equity ratio Millions of yen 83,316 80,389 Millions of yen 53,219 51,867 As of November 30, 2021 As of February 28, 2021 52,233 million yen 51,001 million yen % 62.7 63.4 1st quarter-end Year ended February 28, 2021 Year ending February 28, 2022 Year ending February 28, 2022 (Forecast) (Note) Revision of the dividend forecast released most recently: Yen – – 2nd quarter-end Yen 0.00 30.00 Yen – – Yen 30.00 30.00 No Annual dividends per share 3rd quarter-end Fiscal year-end Total 3. Forecast of consolidated financial results for the year ending February 28, 2022 (from March 1, 2021 to February 28, 2022) Net sales Operating profit Ordinary profit Full year Millions of yen 145,230 % Millions of yen 5,400 3.4 % 498.1 (Note) Revision of the consolidated results forecast released most recently: Millions of yen 6,040 196.4 % Millions of yen 2,510 No % – (Percentages indicate year-on-year changes) Profit attributable to owners of parent Earnings per share Yen 30.00 60.00 Yen 65.45 *Notes (1) Changes in significant subsidiaries during the nine months ended November 30, 2021: No (changes in specified subsidiaries resulting in the change in scope of consolidation): Newly consolidated: – company(ies) (company name(s)), Excluded: – company(ies) (company name(s)) (2) Adoption of special accounting procedures used in preparation of the quarterly consolidated financial statements: Yes (Note) For details, please see “2. Quarterly Consolidated Financial Statements and Key Notes, (3) Notes to quarterly consolidated financial statements, (Adoption of special accounting procedures used in preparation of the quarterly consolidated financial statements)” on page 9 of the attachments. (3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements 1) Changes in accounting policies due to revisions to accounting standards and other regulations: 2) Change in accounting policies other than item 1) above: 3) Changes in accounting estimates: 4) Restatement of prior period financial statements: (4) Number of issued shares (common shares) No No No No 1) Total number of issued shares at the end of the period (including treasury shares) As of November 30, 2021 44,392,680 shares As of February 28, 2021 44,392,680 shares 2) Number of treasury shares at the end of the period As of November 30, 2021 6,012,874 shares As of February 28, 2021 6,041,555 shares 3) Average number of shares during the period (cumulative from the beginning of the fiscal year) Nine months ended November 30, 2021 38,370,748 shares Nine months ended November 30, 2020 38,343,866 shares * Quarterly financial results are not subject to quarterly reviews by a Certified Public Accountant or audit firm. * Explanation of appropriate use of financial results forecasts and other special notes • Any statement on the future such as an outlook for financial results included in this material is based on information the Company presently has and certain assumptions the Company considers reasonable, and the Company does not promise they will be achieved. In addition, actual financial results may significantly differ due to various factors. * Method of obtaining supplementary materials on quarterly financial results: • Supplementary materials on quarterly financial results will be posted on the IR information section of the Company’s website on January 17, 2022 (Monday). ○ Table of Contents of Attachments 1. Qualitative Information on Quarterly Financial Results under Review …………………………………………………………… 2 (1) Explanation of consolidated operating results………………………………………………………………………………………. 2 (2) Explanation of consolidated financial position …………………………………………………………………………………….. 4 (3) Explanation of future forecast information such as consolidated financial results forecasts ……………………….. 4 2. Quarterly Consolidated Financial Statements and Key Notes ………………………………………………………………………… 5 (1) Consolidated balance sheets ………………………………………………………………………………………………………………. 5 (2) Consolidated statements of income (year to date) and consolidated statements of comprehensive income (year to date) …………………………………………………………………………………………………………………………………… 7 Consolidated statements of income (year to date) ………………………………………………………………………………… 7 (Nine-month period) ……………………………………………………………………………………………………………………. 7 Consolidated statements of comprehensive income (year to date) ………………………………………………………….. 8 (Nine-month period) ……………………………………………………………………………………………………………………. 8 (3) Notes to quarterly consolidated financial statements …………………………………………………………………………….. 9 (Notes regarding the going concern assumption) ………………………………………………………………………………….. 9 (Notes when there is a significant change in the amount of shareholders’ equity) …………………………………….. 9 (Adoption of special accounting procedures used in preparation of the quarterly consolidated financial statements) ……………………………………………………………………………………………………………………………………… 9 (Additional information) …………………………………………………………………………………………………………………… 9 (Segment information) ……………………………………………………………………………………………………………………. 10 – 1 – 1. Qualitative Information on Quarterly Financial Results under Review (1) Explanation of consolidated operating results During the nine-month period ended November 30, 2021, consumption activities in the Japanese economy continued to face severe conditions due to the impact of a surge in crude oil prices and higher commodity prices on top of the impact of the spread of COVID-19. The future outlook in the food services industry remains uncertain mainly due to the emergence of a new variant although there are signs of a recovery as the declaration of a state of emergency and measures to prevent the spread of infection were lifted and progress was made in vaccinations. The meal placement industry remained strong thanks to increased demand for takeouts and deliveries on the back of COVID-19 and due to changes in consumer lifestyles. Meanwhile, competition is intensifying beyond business types with restaurants and diners entering the takeout market. Under these circumstances, in an effort to increase customer satisfaction, the Group focused on enhancing its business foundations by developing existing brands and on operating stores with due consideration to the safety of customers and employees. As part of efforts to develop existing brands, we worked to expand over-the-counter sales. We did this through such measures as launching campaigns using products manufactured at the Group’s plants, implementing sales strategies with business type-specific targets, and expanding stores that adapt to digital marketing and delivery services using smartphone applications and other platforms while continuing to focus on the promotion of franchising. Hotto Moto continued to improve its contactless operations by strengthening its online ordering and delivery services, as well as cashless payments. YAYOI sought to respond to a wide range of customer needs by expanding demand for takeouts and breakfast. With regards to net sales at existing stores in Japan during the nine-months period under review, 2021, Hotto Motto remained strong, increasing sales by 5.0%. However, YAYOI and MK RESTAURANTS continued to face a challenging business environment, with YAYOI down 3.0% and MK RESTAURANTS down 23.0%, impacted by requests to stay at home and shorten business hours in certain areas. [Year-on-year change in net sales at existing stores in Japan] First quarter (March to May) Second quarter (June to August) Hotto Motto YAYOI MK RESTAURANTS 106.6% 113.7% 100.1% 104.5% 93.1% 67.9% Third quarter (September to November) Nine-month period under review (March to November) 105.0% 97.0% 77.0% 103.9% 88.4% 75.3% In overseas markets, we continued to face a challenging business environment due to restrictions, such as operating only takeout and delivery services or on shortened hours and/or having limits on the number of seats based on government orders in some countries and regions. As a result of the above, the Company posted net sales of 106,994 million yen (up 1.9% year-on-year), operating profit of 3,239 million yen (186 million yen in the same period last year), ordinary profit of 6,305 million yen (up 856.7% year-on-year), and profit attributable to owners of parent of 3,456 million yen (net loss attributable to owners of parent of 931 million yen in the same period last year) for the nine-month period under review. Net sales increased year-on-year due to higher net sales at existing stores of Hotto Motto year-on-year, despite a decrease in net sales due to lower net sales at existing stores of YAYOI and MK RESTAURANTS compared with the levels of a year before and to the transfer of directly managed Hotto Motto stores to franchised ones. Meanwhile, profits increased year-on-year due to an improved gross margin as a result of an increase in net sales at existing stores of Hotto Motto and promoting in-house production, etc. The increase in ordinary profit was mainly due to posting 2,503 million yen in non-operating income for a subsidy for cooperation from a local government for shortening business hours to prevent the spread of infections and subsidies for employment adjustment as subsidy income. [Status of store development in Japan] Hotto Motto YAYOI MK RESTAURANTS Total 2,493 stores 372 stores 26 stores 2,891 stores End of previous fiscal year Opening Closing End of third quarter under review Renovation/Relocation 4 stores 1 store — 5 stores 9 stores — 1 store 10 stores 2,488 stores 373 stores 25 stores 2,886 stores 6 stores — — 6 stores – 2 – [Status of store development outside Japan] Area Opening Closing End of previous fiscal year China South Korea Singapore Thailand Singapore Australia Taiwan USA Philippines Malaysia China — 2 stores 11 store 1 store 194 stores 9 stores 6 stores 21 store 4 stores 6 stores 4 stores — 258 stores — 1 store — 4 stores 1 store — 1 store — 1 store — 1 store 9 stores Hotto Motto YAYOI Total End of third quarter under review 1 store 7 stores — 190 stores 9 stores 6 stores 21 store 3 stores 7 stores 4 stores 1 store 249 stores 1 store 5 stores 1 store 8 stores 1 store — 1 store 1 store — — — 18 stores The Group’s business performance by segment is as follows. [Hotto Motto Business] As a top brand of takeout bento boxes, and with a safe and secure quality management system, Hotto Motto aims to provide bento boxes that are freshly made in stores by focusing on tasty meals and using carefully selected high-quality rice grown in Japan. We worked to provide high-value-added products, such as by promoting the use of the Group’s plants, with the goal of increasing customer satisfaction. We also continued to improve contactless operations by strengthening online ordering, delivery services, and cashless payments, in addition to taking measures to capture new customer groups through selling products targeting younger generations and families, and driving repeat visits to stores through customer-participation promotional campaigns. Furthermore, with regards to franchise development, we continued to actively work to acquire new owners and increase the number of stores for the existing owners through the use of the “unit franchise system.” As a result of the above, the Company posted net sales of 79,666 million yen (up 2.1% year-on-year) and an operating profit of 5,504 million yen (up 87.4% year-on-year). Net sales increased year-on-year as a result of an increase in net sales at existing stores (up 5.0% year-on-year), despite a decrease in net sales due to the transfer of directly managed stores to franchised stores. Profits also increased year-on-year due to an increase in net sales at existing stores and improved gross margin. [YAYOI Business] Our basic policy is to offer set meals made with carefully selected ingredients and a home-made feel at reasonable prices, in addition to the conventional product measures for heavy users. Based on this, we continued to work to respond to a wide range of customer needs by expanding the breakfast menu and boosting demand for breakfasts through an increase in the number of stores offering the breakfast menu, as well as expanding the demand for takeouts by offering “At-Home Set Menu,” which provides rice, soup, and side dishes in separate containers, so that customers can enjoy set meals at home, etc., in the same manner as at stores. We carried out campaigns on an ongoing basis. As a result of the above, the Company posted net sales of 18,661 million yen (up 0.9% year-on-year) and an operating loss of 1,740 million yen (2,034 million yen in the same period last year). Net sales increased year-on-year as a result of an increase in net sales due to the transfer of franchise stores to directly managed ones, despite a decrease in net sales at existing stores (down 3.0% year-on-year). Profitability improved year-on-year as the magnitude of loss decreased due to an improvement in gross margin. [MK RESTAURANTS Business] We enhanced product capability by offering limited-time-only pot soups, such as “Iwashita’s New Ginger Pot Soup” and “Iwashita’s New Ginger Xiaolongbao,” specially selected ingredients and dim sum (small Chinese dishes). In addition, we focused on driving customer visits by regularly implementing sales promotion initiatives targeting families. We also sought to respond to a wide range of customer needs by expanding the takeout menu and delivery services. As a result of the above, the Company posted net sales of 1,374 million yen (down 17.4% year-on-year) and an operating loss of 255 million yen (265 million yen in the same period last year). Net sales fell year-on-year due to a decline in net sales at existing stores (down 23.0% year-on-year) and the closure of unprofitable stores last year. Meanwhile, in terms of profitability, the magnitude of loss decreased year-on-year, due to the closure of unprofitable stores executed during the previous year. [Overseas Business] – 3 – In the overseas business, efforts were made to restore profitability by enhancing profitability of existing stores through such measures as implementing market-specific initiatives to boost sales and reducing costs at stores through the local procurement of ingredients. However, we continued to face a challenging business environment due to restrictions, such as operating only takeout and delivery services or on shortened hours and/or having limits on number of seats based on government orders in some countries and regions, prompted by the impact of the spread of COVID-19. As a result of the above, the Company posted net sales of 2,007 million yen (down 3.9% year-on-year) and an operating loss of 614 million yen (603 million yen in the same period last year). [Other] MSF Co., Ltd., whose main business is as an OEM (original equipment manufacturer) of seasonings and processed food, proactively proposed new products to existing business partners while conducting marketing activities to acquire new ones. MSF Co., Ltd., which also engages in the development of seasonings and other ingredients used at the Group’s stores, focused on expanding the number of products. As a result of the above, the Company posted net sales of 5,284 million yen (up 10.9% year-on-year). Regarding profits, the Company posted an operating profit of 385 million yen (up 77.2% year-on-year) as a result of an increase in production despite amortization of goodwill. (2) Explanation of consolidated financial position Total assets as of the end of the third quarter under review were 83,316 million yen, up 2,926 million yen compared with the level at the end of the previous fiscal year. This consisted of an increase of 6,273 million yen in current assets and a decrease of 3,346 million yen in non-current assets. The increase in current assets was mainly due to an increase of 3,842 million yen in cash and deposits and an increase of 1,541 million yen in merchandise and finished goods. The decrease in non-current assets was chiefly attributable to a decrease of 2,769 million yen in property, plant and equipment. Liabilities increased 1,575 million yen from the end of the previous fiscal year to 30,097 million yen. This consisted of an increase of 2,028 million yen in current liabilities and a decrease of 453 million yen in non-current liabilities. The increase in current liabilities was mainly attributable to an increase of 1,217 million yen in notes and accounts payable – trade and an increase of 909 million yen in income taxes payable. Net assets increased 1,351 million yen from the end of the previous fiscal year to 53,219 million yen. This primarily consisted of an increase of 1,154 million yen in retained earnings and a decrease of 55 million yen in treasury shares. The increase in retained earnings was mainly due to the recording of profit attributable to owners of parent of 3,456 million yen and a decrease due to dividend payments of 2,301 million yen. (3) Explanation of future forecast information such as consolidated financial results forecasts There is no change in the full-year financial results forecasts for the fiscal year ending February 28, 2022, as announced on April 14, 2021. (Risk Information on COVID-19) The global spread of COVID-19 has had an important impact on the food services industry. It has resulted in global travel restrictions, including a ban on entering or leaving countries, and restrictions on leaving home. It has also caused shortened business hours following the declaration of a state of emergency and the implementation of measures to prevent the spread of infections and fewer customers visiting the stores due to the encouragement to refrain from going out in Japan. There are signs of improvement given the progress in vaccinations in Japan. However, if the impact becomes more serious or prolonged further, over-the-counter net sales may decrease and a shortage of raw materials, a surge in purchase prices, and other issues may occur, which will affect the operating results and financial position of the Group. As countermeasures for such risk, the Group has taken steps to ensure the safety of its customers, business partners, and employees by thoroughly implementing measures to prevent infections in accordance with the guidelines of the health administration and changing business hours in accordance with requests for self-restrictions from local governments. In this way, it aims to achieve customer satisfaction as a food infrastructure company. In addition, as of the date of submission of this report, the Company is working to reduce the impact on its businesses by, for example, ensuring stable operation of the Group’s plants, securing sufficient amounts of raw materials, promoting delivery services, and promoting takeouts for the YAYOI Business and MK RESTAURANTS Business. – 4 – 2. Quarterly Consolidated Financial Statements and Key Notes (1) Consolidated balance sheets As of February 28, 2021 As of November 30, 2021 (Millions of yen) 10,519 3,013 5,391 220 2,968 (509) 21,603 27,096 13,368 40,464 714 1,214 1,928 3,704 12,731 (43) 16,392 58,785 80,389 5,402 758 959 340 287 161 6 8,595 16,511 1,075 7,124 110 3,701 12,011 28,522 14,362 3,495 6,932 297 3,279 (490) 27,876 25,436 12,258 37,694 574 1,001 1,575 3,636 12,563 (31) 16,169 55,439 83,316 6,619 759 1,869 286 241 42 3 8,717 18,539 1,037 7,160 124 3,235 11,557 30,097 Assets Current assets Cash and deposits Notes and accounts receivable – trade Merchandise and finished goods Raw materials and supplies Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Buildings and structures, net Other, net Total property, plant and equipment Intangible assets Goodwill Other Total intangible assets Investments and other assets Deferred tax assets Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total assets Liabilities Current liabilities Notes and accounts payable – trade Short-term borrowings Income taxes payable Provision for bonuses Provision for point card certificates Provision for shareholder benefit program Asset retirement obligations Other Total current liabilities Non-current liabilities Long-term borrowings Asset retirement obligations Retirement benefit liability Other Total non-current liabilities Total liabilities – 5 – As of February 28, 2021 As of November 30, 2021 (Millions of yen) Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Total accumulated other comprehensive income Share acquisition rights Non-controlling interests Total net assets Total liabilities and net assets 3,461 4,714 54,608 (11,776) 51,008 (11) 4 (6) 223 641 51,867 80,389 3,461 4,702 55,763 (11,720) 52,206 (12) 39 27 203 781 53,219 83,316 – 6 – (2) Consolidated statements of income (year to date) and consolidated statements of comprehensive income (year to date) Consolidated statements of income (year to date) (Nine-month period) (Millions of yen) Nine months ended November 30, 2020 Nine months ended November 30, 2021 Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating profit Non-operating income Interest income Dividend income Rental income from non-current assets Compensation income Insurance claim income Share of profit of entities accounted for using equity method Subsidy income Other Total non-operating income Non-operating expenses Interest expenses Rental expenses on non-current assets Loss on cancellation of rental contracts Provision of allowance for doubtful accounts Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sales of non-current assets Total extraordinary income Extraordinary losses Loss on disposal of non-current assets Impairment loss Other Total extraordinary losses Profit (loss) before income taxes Income taxes Profit (loss) Profit attributable to non-controlling interests Profit (loss) attributable to owners of parent 105,019 51,456 53,563 53,377 186 18 1 102 57 174 9 39 237 641 32 4 41 28 62 168 659 5 5 136 913 9 1,059 (395) 457 (852) 79 (931) 106,994 51,625 55,369 52,129 3,239 14 1 99 － 129 55 2,503 339 3,143 43 3 6 － 23 77 6,305 4 4 39 244 3 287 6,022 2,425 3,597 140 3,456 – 7 – Consolidated statements of comprehensive income (year to date) (Nine-month period) (Millions of yen) Nine months ended November 30, 2020 Nine months ended November 30, 2021 Profit (loss) Other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Share of other comprehensive income of entities accounted for using equity method Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests (852) 4 18 4 27 (825) (904) 78 3,597 (1) (43) 78 33 3,630 3,490 140 – 8 – (3) Notes to quarterly consolidated financial statements (Notes regarding the going concern assumption) Not applicable. Not applicable. (Notes when there is a significant change in the amount of shareholders’ equity) (Adoption of special accounting procedures used in preparation of the quarterly consolidated financial statements) With respect to tax expenses, the Company has adopted a calculation method to reasonably estimate the effective tax rate after applying tax effect accounting to profit before income taxes in the fiscal year, including the third quarter under review, and calculate them by multiplying this estimated effective tax rate by profit before income taxes. However, the Company uses the statutory effective tax rate to calculate tax expenses when using the estimated effective tax rate gives a noticeably irrational result. (Additional information) There has been no material change in the assumptions used in the accounting estimates regarding when COVID-19 recedes in the Securities Report (Additional Information) for the previous consolidated fiscal year. – 9 – (Segment information) [Segment information] I. Nine-month period in the previous fiscal year (from March 1, 2020 to November 30, 2020) 1. Information on net sales, income or loss by reporting segment Reporting segment Hotto Motto Business YAYOI Business MK RESTAURANTS Business Overseas Business Total Other (Note 1) Adjustments (Note 2) (Millions of yen) Amount on quarterly consolidated statement of income (Note 3) Net sales (1) Net sales to external customers (including other operating revenue) (2) Intersegment sales or transfer 77,997 18,504 1,663 2,089 100,254 4,765 – 105,019 – – – – – 1,630 (1,630) – Total 77,997 18,504 1,663 2,089 100,254 6,396 (1,630) 105,019 Segment income (loss) 2,936 (2,034) (265) (603) 32 217 (63) 186 (Notes) 1 “Other” represents segments not included in reporting segments and includes one consolidated subsidiary. 2 The adjustments to segment income (loss) represent corporate expenses that are not allocated to each reporting segment. 3 Segment income (loss) is adjusted with operating loss stated in the quarterly consolidated statement of income. 2. Information on impairment loss on non-current assets, goodwill, etc. by reporting segment (Material impairment loss on non-current assets) The Company recognized an impairment loss for assets of stores where collection of funds is unlikely and for stores continuing to record losses mainly due to a decision to close the store in the nine-month period under review in the YAYOI Business, MK RESTAURANTS Business and Overseas Business segments. The amounts of impairment loss recorded in the nine-month period under review were 646 million yen, 45 million yen and 221 million yen, respectively. II. Nine-month period under review (from March 1, 2021 to November 30, 2021) Information on net sales, income or loss by reporting segment Reporting segment Hotto Motto Business YAYOI Business MK RESTAURANTS Business Overseas Business Total Other (Note 1) Adjustments (Note 2) (Millions of yen) Amount on quarterly consolidated statement of income (Note 3) Net sales (1) Net sales to external customers (including other operating revenue) (2) Intersegment sales or transfer 79,666 18,661 1,374 2,007 101,710 5,284 – 106,994 – – – – – 2,123 (2,123) – Total 79,666 18,661 1,374 2,007 101,710 7,407 (2,123) 106,994 Segment income (loss) 5,504 (1,740) (255) (614) 2,893 385 (39) 3,239 (Notes) 1 “Other” represents segments not included in reporting segments and includes one consolidated subsidiary. 2 The adjustments to segment income (loss) represent corporate expenses that are not allocated to each reporting segment. 3 Segment income (loss) is adjusted with operating loss stated in the quarterly consolidated statement of income. – 10 –