イズミ（8273） – [Delayed]Summary of Consolidated Financial Results for the Year Ended February 28, 2022

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 February 28, 2022 (Based on Japanese GAAP) April 12, 2022 Company name: IZUMI CO., LTD. Stock exchange listing: Tokyo Stock code: 8273 Representative: Inquiries: URL https://www.izumi.co.jp/ President and Representative Director General Manager of Finance & Accounting Yasuaki Yamanishi Department Scheduled date of ordinary general meeting of shareholders: May 25, 2022 Kazunori Nishimoto TEL +81-82-264-3211 Scheduled date to file Securities Report: Scheduled date to commence dividend payments: Preparation of supplementary material on financial results: Holding of financial results meeting: 1. Consolidated financial results for the year ended February 28, 2022 (from March 1, 2021 to February 28, 2022) May 26, 2022 May 26, 2022 (For institutional investors and analysts) Yes Yes (Amounts less than one million yen are rounded down)(1) Consolidated financial results Operating revenue Operating profit Ordinary profit Percentages indicate year-on-year changesProfit attributable to owners of parent Year ended February 28, 2022 Year ended February 28, 2021 Millions of yen 676,800 679,778 % Millions of yen 34,717 35,781 (0.4) (8.7) % Millions of yen 34,696 36,078 (3.0) 12.2 % Millions of yen 23,204 23,053 (3.8) 12.8 % 0.7 15.5 Earnings per share Diluted earnings per share Profit/equity Ordinary profit/total assets Operating profit/net sales Yen 324.45 321.72 Yen – – % 9.6 10.3 % 7.2 7.4 Total assets Net assets Equity ratio Net assets per share Millions of yen 468,798 489,692 Millions of yen 262,433 245,411 % 53.0 47.5 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash and cash equivalents at end of period Millions of yen 18,577 48,320 Millions of yen (14,246) (6,633) Millions of yen (18,016) (25,361) Millions of yen 11,621 25,306 % 5.4 5.5 Yen 3,479.26 3,244.56 Year ended February 28, 2022 Year ended February 28, 2021 (2) Consolidated financial position As of February 28, 2022 As of February 28, 2021 (3) Consolidated cash flows Year ended February 28, 2022 Year ended February 28, 2021 2. Cash dividends Year ended February 28, 2021 Year ended February 28, 2022 Year ending February 28, 2023 (Forecast) Annual dividends per share 1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total Total cash dividends (Full year) Dividend payout ratio (Consolidated) Ratio of dividends to net assets (Consolidated) Yen – – – Yen 40.00 43.00 43.00 Yen – – – Yen 43.00 43.00 43.00 Yen Millions of yen 83.00 86.00 86.00 5,947 6,147 % 25.8 26.5 29.4 % 2.7 2.6 13. Forecast of consolidated financial results for the fiscal year ending February 28, 2023 (from March 1, 2022 to February 28, 2023) Operating revenue Operating profit Ordinary profit Millions of yen % Millions of yen % Millions of yen % Millions of yen 223,800 454,300 – – 15,100 32,600 – – 15,100 32,600 – – 9,900 20,900 % – – Yen 138.50 292.40 Percentages indicate year-on-year changesProfit attributable to owners of parent Earnings per share Six months ending August 31, 2022 Full year 4. Notes (1) Changes in significant subsidiaries during the period (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: Changes in accounting policies due to other reasons: Changes in accounting estimates: Restatement of prior period financial statements: No No No No No (3) Number of issued shares (common shares) Total number of issued shares at the end of the period (including treasury shares) As of February 28, 2022 71,665,200 shares As of February 28, 2021 71,665,200 shares As of February 28, 2022 187,562 shares As of February 28, 2021 8,106 shares Number of treasury shares at the end of the period Average number of shares during the period Year ended February 28, 2022 71,517,631 shares Year ended February 28, 2021 71,657,606 shares 2 As of February 28, 2021 As of February 28, 2022 (Millions of yen) Consolidated financial statements Consolidated balance sheets Assets Current assets Cash and deposits Notes and accounts receivable – trade Merchandise and finished goods Work in process Raw materials and supplies Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Buildings and structures Accumulated depreciation Buildings and structures, net Machinery, equipment and vehicles Accumulated depreciation Machinery, equipment and vehicles, net Land Leased assets Accumulated depreciation Leased assets, net Construction in progress Other Accumulated depreciation Other, net Total property, plant and equipment Intangible assets Goodwill Other Total intangible assets Investments and other assets Investment securities Long-term loans receivable Deferred tax assets Leasehold and guarantee deposits Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total assets 3 25,306 42,497 21,661 20 458 17,717 (550) 107,112 400,335 (245,053) 155,281 11,242 (7,185) 4,057 163,136 84 (64) 20 497 42,840 (35,294) 7,545 330,539 2,441 8,249 10,690 9,876 1,542 9,244 16,909 4,322 (546) 41,350 382,580 489,692 11,621 42,794 20,381 95 681 13,803 (511) 88,867 408,013 (258,508) 149,504 11,873 (7,968) 3,904 166,542 81 (64) 16 2,002 43,650 (36,254) 7,396 329,367 1,908 9,325 11,234 8,729 1,418 9,750 15,846 4,047 (462) 39,329 379,931 468,798 (Millions of yen) As of February 28, 2021 As of February 28, 2022 47,367 1,300 19,756 14,076 7,983 2,204 36 2,416 115 117 – 39 18,183 113,596 88,335 17 22,552 915 146 436 – 8,852 980 8,267 180 130,684 244,281 19,613 22,545 189,072 (30) 231,200 1,171 123 1,294 12,915 245,411 489,692 Liabilities Current liabilities Notes and accounts payable – trade Short-term borrowings Current portion of long-term borrowings Accounts payable – other Income taxes payable Provision for bonuses Provision for bonuses for directors (and other officers) Provision for point card certificates Provision for loss on recollection of gift certificates Provision for loss on building demolition Provision for loss on lease contracts Asset retirement obligations Other Total current liabilities Non-current liabilities Long-term borrowings Lease obligations Long-term leasehold and guarantee deposits received Provision for retirement benefits for directors (and other officers) Provision for loss on interest repayment Provision for loss on building demolition Provision for loss on lease contracts Retirement benefit liability Deferred tax liabilities Asset retirement obligations Other Total non-current liabilities Total liabilities 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 Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets Total liabilities and net assets 4 29,697 10,220 19,800 7,429 6,135 2,246 26 2,496 201 357 32 194 14,994 93,835 69,327 14 22,170 69 204 – 424 9,251 870 9,143 1,053 112,529 206,364 19,613 22,580 206,121 (800) 247,515 1,028 145 1,173 13,744 262,433 468,798 Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income Year ended February 28, 2021 (Millions of yen) Year ended February 28, 2022 Net sales Cost of sales Gross profit Operating revenue Operating gross profit Selling, general and administrative expenses Advertising and promotion expenses Distribution expenses Provision of allowance for doubtful accounts Employees’ salaries and bonuses Provision for bonuses Welfare expenses Retirement benefit expenses Rent expenses Utilities expenses Depreciation Provision for retirement benefits for directors (and other officers) Other Total selling, general and administrative expenses Share of profit of entities accounted for using equity method Operating profit Non-operating income Interest and dividend income Purchase discounts Penalty income Other Total non-operating income Non-operating expenses Interest expenses Compensation expenses Other Total non-operating expenses Ordinary profit Share of loss of entities accounted for using equity method 645,672 498,204 147,467 34,105 181,573 9,643 8,152 184 53,319 2,119 10,522 1,213 11,526 7,482 15,243 (57) 26,441 145,791 35,781 1,232 1,893 243 183 84 149 700 115 – 781 1,597 36,078 643,280 497,337 145,943 33,519 179,463 9,647 8,005 159 52,324 2,136 10,320 1,125 11,248 7,986 15,267 153 26,369 144,745 34,717 1,085 1,600 224 193 – 97 555 101 290 674 1,621 34,696 5 Extraordinary income Gain on sale of non-current assets Gain on sale of investment securities Gain on bargain purchase Gain on step acquisitions Subsidy income Income from insurance Other Total extraordinary income Extraordinary losses Loss on sale of non-current assets Loss on retirement of non-current assets Impairment losses Loss related to infectious disease Loss on disaster Provision for loss on building demolition Provision of reserve for loss on lease contracts Other Total extraordinary losses Profit before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit Profit attributable to non-controlling interests Profit attributable to owners of parent Year ended February 28, 2021 (Millions of yen) Year ended February 28, 2022 57 3,115 – – – 1 412 25 3,610 121 1,641 2,074 222 556 – 218 4,835 34,852 11,788 (1,482) 10,306 24,546 1,493 23,053 1,039 191 18 195 355 267 – 11 – 147 601 140 – – 456 108 1,456 34,280 10,987 (229) 10,758 23,521 317 23,204 6Consolidated statements of comprehensive income Profit Other comprehensive income Valuation difference on available-for-sale securities Remeasurements of defined benefit plans, net of tax 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 Year ended February 28, 2021 (Millions of yen) Year ended February 28, 2022 24,546 287 126 12 425 24,972 23,607 1,365 23,521 (360) 26 (2) (336) 23,184 23,082 101 7Consolidated statements of changes in net assets Fiscal year ended February 28, 2021 (Millions of yen) Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity 19,613 22,267 171,751 (27) 213,604 Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Purchase of shares of consolidated subsidiaries Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Purchase of shares of consolidated subsidiaries Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Accumulated other comprehensive income Valuation difference on Remeasurements of available-for-sale securities defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets 753 (12) 741 11,918 226,264 278 278 22,545 – 19,613 (5,732) 23,053 17,320 189,072 418 418 1,171 135 135 123 553 553 1,294 996 996 12,915 (2) (2) (30) (5,732) 23,053 (2) 278 17,596 231,200 (5,732) 23,053 (2) 278 1,550 19,146 245,411 8 Fiscal year ended February 28, 2022 Share capital Capital surplus Retained earnings Treasury shares Shareholders’ equity (Millions of yen) Total shareholders’ equity 19,613 22,545 189,072 (30) 231,200 – 19,613 22,580 17,048 206,121 (769) (800) 16,314 247,515 Accumulated other comprehensive income Valuation difference on Remeasurements of available-for-sale securities defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets 1,171 123 1,294 12,915 245,411 (6,154) 23,204 (0) (860) 90 (6,154) 23,204 (860) 90 – 35 (6,154) 23,204 (860) 90 – 35 707 17,021 262,433 Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer to retained earnings from other capital surplus Purchase of shares of consolidated subsidiaries Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer to retained earnings from other capital surplus Purchase of shares of consolidated subsidiaries Net changes in items other than shareholders’ equity Total changes during period Balance at end of period (0) 0 35 35 22 22 145 9(143) (143) 1,028 (121) (121) 1,173 828 828 13,744 Consolidated statements of cash flows Cash flows from operating activities Profit before income taxes Depreciation Share-based payment expenses Amortization of goodwill Gain on bargain purchase Loss (gain) on step acquisitions Increase (decrease) in allowance for doubtful accounts Interest and dividend income Interest expenses Share of loss (profit) of entities accounted for using equity method Income from insurance Subsidy income Loss (gain) on sale of non-current assets Loss on retirement of non-current assets Loss (gain) on sale of investment securities Impairment losses Loss related to infectious disease Loss on disaster Increase (decrease) in provision for loss on building demolition Increase (decrease) in provision for loss on lease contracts Decrease (increase) in trade receivables Decrease (increase) in inventories Increase (decrease) in trade payables Increase (decrease) in retirement benefit liability Other, net Subtotal Interest paid Interest and dividends received Proceeds from insurance income Subsidies received Payment of loss related to infectious disease Payments associated with disaster loss Income taxes refund (paid) Other, net Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Purchase of intangible assets Proceeds from sale of investment securities Proceeds from purchase of shares of subsidiaries resulting in change in scope of consolidation Other, net Net cash provided by (used in) investing activities 10 Year ended February 28, 2021 34,852 15,872 (Millions of yen) Year ended February 28, 2022 737 – – – (106) (243) 700 (84) (412) – (55) 121 (3,115) 1,641 2,074 222 554 – 3,895 3,917 (2,610) 449 917 59,328 248 (742) 412 – (1,888) (104) (9,049) 115 48,320 (12,632) 1,835 (1,289) 4,697 – 754 (6,633) 34,280 16,138 67 532 (195) (355) (22) (224) 555 290 – (267) (191) 147 (18) 601 140 – (55) 456 (297) 983 (17,669) 401 (3,871) 31,427 236 (619) – 267 (140) – (12,694) 101 18,577 (13,998) 1,305 (2,337) 38 264 480 (14,246) Cash flows from financing activities Net increase (decrease) in short-term borrowings Proceeds from long-term borrowings Repayments of long-term borrowings Purchase of treasury shares Dividends paid Dividends paid to non-controlling interests Purchase of shares of subsidiaries not resulting in change in scope of consolidation Other, net Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Year ended February 28, 2021 (Millions of yen) Year ended February 28, 2022 (705) 1,100 (19,925) (2) (5,732) (34) (56) (5) (25,361) 16,324 8,982 25,306 8,288 700 (19,943) (860) (6,154) (33) (7) (4) (18,016) (13,685) 25,306 11,621 11