Itoki : Financial Results for the Six Months of the Fiscal Year Ending December 31, 2021 (Consolidated Basis)（164KB）

Translation

August 6, 2021

Consolidated Financial Results

for the First Six Months of the Fiscal Year Ending December 31, 2021

Company name:	ITOKI CORPORATION
Listing:	Tokyo Stock Exchange 1st Section
Stock code:	7972
URL:	http://www.itoki.jp/
Representative:	Yoshiro Hirai, President
Inquiries:	Yoshiaki Moriya, Director, Managing Executive Officer, General Manager of
	Administrative Division
	TEL: [phone] (from overseas)

Scheduled date to file Quarterly Securities Report:	August 6, 2021
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:	Yes (for analysts)

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated performance for the first six months of the fiscal year ending December

31, 2021 (from January 1, 2021 to June 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
	Six months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	June 30, 2021	61,572	(4.8)	2,936	11.6		2,830	12.9	2,290	90.3
	June 30, 2020	64,704	1.6	2,631	36.5		2,506	29.5	1,203	24.6
	Note:	Comprehensive	income
		For the first six months of the fiscal year ending December 31, 2021:	2,492 million yen [168.5%]
		For the first six months of the fiscal year ended December 31, 2020:	928 million yen [(9.5)%]
			Earnings per share	Diluted earnings per
			share
	Six months ended			Yen		Yen
	June 30, 2021		50.72		50.32
	June 30, 2020		26.40		-
(2) Consolidated financial position
			Total assets		Net assets			Equity ratio		Net assets per share
	As of			Millions of yen	Millions of yen			%		Yen
	June 30, 2021		108,540		46,186			42.2	1,013.71
	December 31, 2020		105,096		44,189			41.6		969.43
	Reference:	Equity
		As of June 30, 2021:	45,826 million yen
		As of December 31, 2020: 43,766 million yen

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2. Cash dividends

			Annual dividends
	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended	-	0.00	-	13.00	13.00
December 31, 2020
Fiscal year ending	-	0.00
December 31, 2021
Fiscal year ending			-	13.00	13.00
December 31, 2021
(Forecast)

Note: Revisions to the forecasts of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)

(Percentages indicate year-on-year changes.)

		Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per
			owners of parent	share
		Millions of	%	Millions of	%	Millions of	%	Millions of	%	Yen
		yen	yen	yen	yen
	Fiscal year ending	114,000	(1.9)	1,800	0.1	1,900	1.0	700	-	15.50
	December 31, 2021
	Note: Revisions to the	consolidated earnings	forecasts most recently	announced:	None

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* Notes

1. Changes in significant subsidiaries during the first six months of the fiscal year ending December 31, 2021 (changes in specified subsidiaries accompanying change in scope of consolidation): None
2. Application of specific accounting for preparing the consolidated quarterly financial statements: None
3. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
4. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None

c. Changes in accounting estimates:None

d. Restatement of prior period financial statements after error corrections: None

(4) Number of issued shares (common shares)

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

As of June 30, 2021	45,664,437 shares
As of December 31, 2020	45,664,437 shares

1. Number of treasury shares at the end of the period

As of June 30, 2021	457,596 shares
As of December 31, 2020	517,704 shares

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

Six months ended June 30, 2021	45,166,762 shares
Six months ended June 30, 2020	45,590,087 shares

• Quarterly financial results reports are not required to be subjected to quarterly reviews conducted by certified public accountants or an audit corporation.

* Explanation concerning proper use of earnings forecasts and other specific matters

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual results may differ materially from these forecasts due to various factors.

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Consolidated quarterly financial statements

(1) Consolidated quarterly balance sheets

			(Millions of yen)
		As of December 31, 2020	As of June 30, 2021
Assets
Current assets
Cash and deposits	18,246	22,112
Notes and accounts receivable - trade	26,599	26,596
Electronically recorded monetary claims -	1,959	2,755
operating
Merchandise and finished goods	4,281	4,455
Work in process	2,266	2,768
Raw materials and supplies	2,554	2,558
Other	1,850	1,524
Allowance for doubtful accounts	(575)	(600)
Total current assets	57,183	62,170
Non-current assets
Property, plant and equipment
Buildings and structures, net	10,669	9,826
Land	9,888	9,532
Other, net	5,648	5,420
Total property, plant and equipment	26,206	24,779
Intangible assets
Goodwill	2,093	2,016
Other	3,497	3,402
Total intangible assets	5,590	5,419
Investments and other assets
Investment securities	5,583	5,617
Deferred tax assets	1,414	1,254
Retirement benefit asset	1,418	1,456
Other	8,175	8,312
Allowance for doubtful accounts	(475)	(470)
Total investments and other assets	16,116	16,170
Total non-current assets	47,912	46,369
Total assets		105,096	108,540

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			(Millions of yen)
		As of December 31, 2020	As of June 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	12,377	13,268
Electronically recorded obligations - operating	5,840	7,978
Current portion of bonds payable	40	40
Short-term borrowings	10,055	10,041
Current portion of long-term borrowings	2,325	1,980
Income taxes payable	1,286	1,434
Accrued consumption taxes	1,149	881
Notes payable - facilities	177	104
Provision for bonuses	1,578	1,006
Provision for loss on order received	4	0
Provision for product warranties	75	81
Other	8,737	8,447
Total current liabilities	43,646	45,266
Non-current liabilities
Bonds payable	100	80
Long-term borrowings	6,491	6,474
Lease obligations	1,917	1,639
Deferred tax liabilities	448	445
Retirement benefit liability	4,131	4,193
Provision for retirement benefits for directors (and	99	97
other officers)
Provision for loss on voluntary recall of products	90	90
Other	3,979	4,067
Total non-current liabilities	17,259	17,088
Total liabilities	60,906	62,354
Net assets
Shareholders' equity
Share capital	5,294	5,294
Capital surplus	9,628	9,632
Retained earnings	28,950	30,654
Treasury shares	(182)	(161)
Total shareholders' equity	43,691	45,419
Accumulated other comprehensive income
Valuation difference on available-for-sale	473	597
securities
Foreign currency translation adjustment	(89)	85
Remeasurements of defined benefit plans	(308)	(275)
Total accumulated other comprehensive income	75	406
Share acquisition rights	45	45
Non-controlling interests	377	314
Total net assets	44,189	46,186
Total liabilities and net assets		105,096	108,540

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