[Delayed] [Summary] Summary of Consolidated Financial Results for the Six Months Ended September 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 Six Months Ended September 30, 2021 (Based on Japanese GAAP)

					November 8, 2021
Company name:	Inabata&Co.,Ltd.
Stock exchange listing:	Tokyo
Stock code:	8098	URL https://www.inabata.co.jp
Representative:	Director,President	Katsutaro Inabata
Inquiries:	General Manager,	Koichi Noda	TEL [phone]
Financial Management Office
Scheduled date to file Quarterly Securities Report:	November 11, 2021
Scheduled date to commence dividend payments:	December 1, 2021
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	Yes	(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 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
	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%
Six months ended September 30, 2021	328,586		-	11,076		78.3	12,042		73.3	13,518	131.0
Six months ended September 30, 2020	267,188		(13.1)	6,212		(12.8)	6,948		(12.5)	5,851	(13.2)
	Earnings per share		Diluted earnings per share
			Yen			Yen
Six months ended September 30, 2021			224.56				-
Six months ended September 30, 2020			97.20				-
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of September 30, 2021	375,872	182,570				48.0
As of March 31, 2021	353,228	175,803				49.2

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2021	-	20.00	-	43.00	63.00
Year ending March 31, 2022	-	30.00
Year ending March 31, 2022 (Forecast)			-	40.00	70.00

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Earnings per share
				owners of parent
	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
Full year	600,000	-	16,000		6.9	17,000		2.9	16,000	16.0	265.80

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4. Notes

1. Changes in significant subsidiaries during the six months ended September 30, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) 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:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

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

	As of September 30, 2021	63,499,227	shares	As of March 31, 2021	63,499,227	shares
Number of treasury shares at the end of the period
	As of September 30, 2021	3,296,984	shares	As of March 31, 2021	3,302,651	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended September 30, 2021	60,199,000	shares	Six months ended September 30, 2020	60,196,587	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of September 30, 2021
Assets
Current assets
Cash and deposits	31,462	33,747
Notes and accounts receivable - trade	162,736	170,275
Merchandise and finished goods	49,210	65,750
Work in process	597	840
Raw materials and supplies	4,322	5,125
Other	9,266	11,014
Allowance for doubtful accounts	(613)	(592)
Total current assets	256,983	286,162
Non-current assets
Property, plant and equipment	14,395	14,509
Intangible assets	2,918	2,675
Investments and other assets
Investment securities	71,592	65,068
Retirement benefit asset	3,472	3,532
Other	8,411	8,629
Allowance for doubtful accounts	(4,545)	(4,705)
Total investments and other assets	78,930	72,525
Total non-current assets	96,244	89,710
Total assets	353,228	375,872
Liabilities
Current liabilities
Notes and accounts payable - trade	104,113	103,888
Short-term borrowings	33,731	47,642
Income taxes payable	3,155	4,850
Provision for bonuses	1,279	1,531
Other	8,310	11,390
Total current liabilities	150,591	169,302
Non-current liabilities
Long-term borrowings	7,475	7,298
Provision for retirement benefits for directors (and other	29	31
officers)
Provision for Management Board Incentive Plan Trust	131	136
Provision for loss on guarantees	18	18
Retirement benefit liability	2,144	1,539
Other	17,033	14,975
Total non-current liabilities	26,833	23,999
Total liabilities		177,424	193,302

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			(Millions of yen)
		As of March 31, 2021	As of September 30, 2021
Net assets
Shareholders' equity
Share capital	9,364	9,364
Capital surplus	7,184	7,088
Retained earnings	116,794	127,719
Treasury shares	(4,155)	(4,145)
Total shareholders' equity	129,188	140,027
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	39,316	35,131
Deferred gains or losses on hedges	187	208
Foreign currency translation adjustment	4,536	4,633
Remeasurements of defined benefit plans	576	594
Total accumulated other comprehensive income	44,616	40,568
Non-controlling interests	1,999	1,974
Total net assets	175,803	182,570
Total liabilities and net assets		353,228	375,872

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Six months ended	Six months ended
		September 30, 2020	September 30, 2021
Net sales	267,188	328,586
Cost of sales	246,453	300,195
Gross profit	20,735	28,390
Selling, general and administrative expenses	14,522	17,313
Operating profit	6,212	11,076
Non-operating income
Interest income	96	132
Dividend income	795	918
Share of profit of entities accounted for using equity method	127	142
Miscellaneous income	421	289
Total non-operating income	1,442	1,482
Non-operating expenses
Interest expenses	382	309
Foreign exchange losses	144	98
Miscellaneous losses	179	107
Total non-operating expenses	705	516
Ordinary profit	6,948	12,042
Extraordinary income
Gain on sale of investment securities	1,419	6,546
Total extraordinary income	1,419	6,546
Profit before income taxes	8,368	18,588
Income taxes - current	2,312	5,094
Income taxes - deferred	(8)	(131)
Total income taxes	2,303	4,963
Profit	6,064	13,624
Profit attributable to non-controlling interests	213	106
Profit attributable to owners of parent		5,851	13,518

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