極洋（1301） – Summary of Consolidated Financial Results For the Third Quarter of the Year Ending March 31, 2022(Based on Japanese GAAP)

Summary of Consolidated Financial Results For the Third Quarter of the Year Ending March 31, 2022 (Based on Japanese GAAP) Company name: KYOKUYO CO., LTD. Stock exchange listing: Tokyo Stock Exchange, First Section Stock code: 1301 URL https://www.kyokuyo.co.jp/en/ February 4, 2022 (Yen in millions, rounded down) 1. Consolidated Financial Results for the Third Quarter of the Year Ending March 31, 2022 (April 1, 2021– December 31, 2021) (1) Consolidated Result of Operations (cumulative) (% figures denote change from the same period in the previous fiscal year) Net Sales Operating Profit Ordinary Profit Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % 200,477 3.1 5,715 55.2 6,030 57.8 3,991 23.9 194,388 -5.4 3,681 40.7 3,821 28.3 3,222 85.3 3rd Quarter of the Year Ending March 31, 2022 3rd Quarter of the Year Ended March 31, 2021 (Note) Comprehensive Income: Third Quarter of the year ending March 31, 2022 ¥2,956 million (-53.9%) Third Quarter of the year ended March 31, 2021 ¥6,419 million (201.8% ) 3rd Quarter of the Year Ending March 31, 2022 3rd Quarter of the Year Ended March 31, 2021 Profit per Share Diluted Profit Per Share Yen 371.07 299.75 Yen － － (Note)The company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the current fiscal year. The figures for the third quarter of the fiscal year ending March 31, 2022 are figures after the application of the said accounting standard, etc. (2) Consolidated Financial Position Total Assets Net Assets Equity Ratio As at December 31,2021 As at March 31,2021 Million yen 144,024 116,331 Million yen 42,060 39,975 (Reference) Shareholders’ Equity : As at December 31,2021 ¥42,590 million As at March 31,2021 ¥40,382 million % 29.6 34.7 (Note)The company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the current fiscal year. The figures for the third quarter of the fiscal year ending March 31, 2022 are figures after the application of the said accounting standard, etc. – 1 -2. Dividends Year Ended March 31, 2021 Year Ending March 31, 2022 Year Ending March 31,2022 (Forecast) 1st Quarter 2nd Quarter 3rd Quarter Year End Total Dividend per share Yen － － Yen － － Yen － － Yen 80.00 80.00 Yen 80.00 80.00 (Note) Revisions to the most recently announced dividends : None 3. Forecast for the Year Ending March 31, 2022 (April 1, 2021 – March 31, 2022) Net sales Operating Profit (% figures denote change from the previous fiscal year) Profit attributable to owners of parent Profit Per share Ordinary Profit Million yen % Million yen % Million yen % Million yen % Yen 250,000 0.3 5,000 7.3 5,000 2.5 3,500 -8.8 325.35 (Note) Revisions to the most recently announced forecast : None (1) Major changes among subsidiaries during the period under review: None (2) Application of specific accounting treatments in the preparation of quarterly consolidated financial statements: (3) Changes in accounting principles and accounting estimates, retrospective restatements: (i)Changes due to revisions in accounting standards, etc.: Yes (ii)Changes other than(i) : None (iii)Changes in accounting estimates : None (iv)Retrospective restatements : None (4) Number of shares issued (common shares) (i)Number of shares issued at the end of the period (including treasury shares) (ii)Number of treasury shares at the end of the period (iii)Average number of shares during the period * The summary of quarterly financial results is not subject to audits. As at December 31,2021 As at December 31,2021 As at December 31,2021 10,928,283 As at March 31,2021 10,928,283 170,479 As at March 31,2021 170,774 10,757,726 10,752,283 As at December 31,2020 *Explanation about the appropriate use of the forecasts of financial results, and other noteworthy matters. The projections and other statements with respect to the future included in this material are based on currently available information and certain assumptions that are judged reasonable by the Company. Please be advised that the Company does not guarantee in any way the achievement of the projections and other goals in this material and that cases may occur where the actual results and other situations differ materially from the projections due to various factors. Year Ending March 31,2022 * Notes None – 2 -Quarterly Consolidated Financial StatementsQuarterly Consolidated Balance SheetsAssetsCurrent assetsCash and depositsNotes and accounts receivable – tradeInventoriesOtherAllowance for doubtful accountsTotal current assetsNon-current assetsProperty, plant and equipmentIntangible assetsInvestments and other assetsInvestment securitiesOtherAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assetsAs at March 31, 2021As at December 31, 2021(Million yen)7,10032,86941,7604,927(8)86,64915,71541711,6823,478(1,612)13,54729,681116,3316,79948,30651,2426,320(12)112,65518,63436210,3483,621(1,597)12,37131,368144,024- 3 -LiabilitiesCurrent liabilitiesNotes and accounts payable – tradeShort-term borrowingsCommercial papersIncome taxes payableProvisionsOtherTotal current liabilitiesNon-current liabilitiesLong-term borrowingsProvisionsRetirement benefit liabilityAsset retirement obligationsOtherTotal non-current liabilitiesTotal liabilitiesNet assetsShareholders’ equityShare capitalCapital surplusRetained earningsTreasury sharesTotal shareholders’ equityAccumulated other comprehensive incomeValuation difference on available-for-sale securitiesDeferred gains or losses on hedgesForeign currency translation adjustmentRemeasurements of defined benefit plansTotal accumulated other comprehensive incomeNon-controlling interestsTotal net assetsTotal liabilities and net assetsAs at March 31, 2021As at December 31, 2021(Million yen)8,9418,05610,0001,7219909,47839,18932,7203263,7642932637,16676,3555,6641,32928,737(430)35,3005,13914895(301)5,081(407)39,975116,33113,92127,39910,00071445813,25965,75331,9303743,6132926236,210101,9635,6641,32931,864(429)38,4284,059116219(234)4,161(529)42,060144,024- 4 -Quarterly Consolidated Statements of Income and Comprehensive IncomeQuarterly Consolidated Statements of Income (For the nine months)For the nine monthsended December 31, 2020For the nine monthsended December 31, 2021Net salesCost of salesGross profitSelling, general and administrative expensesOperating profitNon-operating incomeInterest incomeDividend incomeShare of profit of entities accounted for using equity methodForeign exchange gainsSubsidy incomeOtherTotal non-operating incomeNon-operating expensesInterest expensesProvision for loss on litigationProvision of allowance for doubtful accountsOtherTotal non-operating expensesOrdinary profitExtraordinary incomeGain on disposal of non-current assetsNational subsidy incomeGain on sale of investment securitiesGain on forgiveness of debtsInsurance claim incomeTotal extraordinary incomeExtraordinary lossesLoss on disposal of non-current assetsImpairment lossesLoss on disasterRetirement benefit expensesLoss on tax purpose reduction entry of non-current assetsLoss on valuation of investment securitiesOtherTotal extraordinary lossesProfit before income taxesIncome taxes – currentIncome taxes – deferredTotal income taxesProfitProfit (loss) attributable to :Owners of parentNon-controlling interests(Million yen)200,477178,27822,19916,4845,7151127132141581887042887(2)963896,030335－－－39219－157337－2205,8491,6552391,8953,9543,991(37)194,388174,84119,54615,8643,68161118448821715042907(11)793653,82118631,2681651251,64021524134－62－107534,7091,841(174)1,6663,0423,222(180)- 5 -Quarterly Consolidated Statements of Comprehensive Income (For the nine months)Other comprehensive incomeValuation difference on available-for-sale securitiesDeferred gains or losses on hedgesForeign currency translation adjustmentRemeasurements of defined benefit plans, net of taxTotal other comprehensive incomeComprehensive incomeComprehensive income attributable to :Owners of parentNon-controlling interestsFor the nine monthsended December 31, 2020For the nine monthsended December 31, 2021(Million yen)3,534(99)(145)863,3766,4196,621(202).(1,079)(32)4667(997)2,9563,071(114)- 6 –