Itoki : Financial Results for the fiscal year Ended December 31, 2022 (Consolidated Basis)（175KB）

Translation

February 13, 2023

	Consolidated Financial Results
	for the Fiscal Year Ended December 31, 2022
Company name: ITOKI CORPORATION
Listing:	Tokyo Stock Exchange
Stock code:	7972
URL:	https://www.itoki.jp/
Representative:	Koji Minato, President
Inquiries:	Yoshiaki Moriya, Director, Managing Executive Officer, General Manager of
	Administrative Division
	TEL: [phone] (from overseas)

Scheduled date of ordinary general meeting of shareholders: March 23, 2023

Scheduled date to commence dividend payments:	March 24, 2023
Scheduled date to file Securities Report:	March 23, 2023
Preparation of supplementary material on financial results: Yes
Holding of financial results presentation meeting:	Yes (for institutional investors and analysts)

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

1. Consolidated performance for the fiscal year ended December 31, 2022

(from January 1, 2022 to December 31, 2022)

(1)	Consolidated operating results								(Percentages indicate year-on-year changes.)
			Net sales			Operating profit			Ordinary profit		Profit attributable to
									owners of parent
	Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%		Millions of yen	%
	December 31, 2022	123,324	6.4	4,582	79.0			4,177	71.4			5,294	353.9
	December 31, 2021	115,905	(0.3)	2,560	42.4			2,437	29.5			1,166	-
	Note:	Comprehensive	income
		For the fiscal year ended December 31, 2022: 5,239 million yen [263.4%]
		For the fiscal year ended December 31, 2021: 1,441 million yen [- %]
			Earnings		Diluted earnings		Return on		Ordinary profit/		Operating profit/
			per share			per share		equity			total assets		net sales
	Fiscal year ended	Yen			Yen					%			%		%
	December 31, 2022	116.99			114.04				11.1			3.8			3.7
	December 31, 2021	25.82			25.67				2.6			2.3			2.2
	Note:	Share of loss (profit) of entities accounted for using equity method
		For the fiscal year ended December 31, 2022: (6) million yen
		For the fiscal year ended December 31, 2021: - million yen
(2)	Consolidated financial position
			Total assets			Net assets				Equity ratio				Net assets per share
	As of	Millions of yen	Millions of yen					%					Yen
	December 31, 2022	115,288	49,910					43.2			1,100.33
	December 31, 2021	103,898	45,076					43.2					992.89
	Reference: Equity

As of December 31, 2022: 49,825 million yen

As of December 31, 2021: 44,885 million yen

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(3) Consolidated cash flows

	Net cash provided by	Net cash provided by	Net cash provided by	Cash and cash
	(used in) operating	(used in) investing	(used in) financing	equivalents
	activities	activities	activities	at end of period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
December 31, 2022	5,804	4,923	(1,426)	25,420
December 31, 2021	2,774	(1,170)	(2,658)	15,797

2. Cash dividends

			Annual dividends		Total cash	Dividend	Ratio of
		First	Second	Third		Fiscal		dividends to
				dividends	payout ratio
				net assets
		quarter-	quarter-	quarter-		year-	Total	(Total)	(Consolidated)
			(Consolidated)
		end	end	end		end
		Yen	Yen	Yen		Yen	Yen	Millions of yen	%	%
	Fiscal year ended	-	0.00	-		15.00	15.00	678	58.1	1.5
	December 31, 2021
	Fiscal year ended	-	0.00	-		37.00	37.00	1,675	31.6	3.5
	December 31, 2022
	Fiscal year ending	-	0.00	-		25.00	25.00		30.6
	December 31, 2023
	(Forecast)
	Note: Breakdown of	fiscal year-	end dividends for the fiscal year ended December 31, 2022
	Ordinary dividend:		17.00 yen
	Special dividend:		20.00 yen

3. Consolidated earnings forecasts for the fiscal year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)

(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	130,000	5.4	6,500	41.8	6,500	55.6	3,700	(30.1)	81.70
December 31, 2023

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* Notes

(1) Changes in significant subsidiaries during the fiscal year ended December 31, 2022 (changes in specified subsidiaries accompanying change in scope of consolidation): None

1. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
2. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   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

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

As of December 31, 2022	45,664,437 shares
As of December 31, 2021	45,664,437 shares

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

As of December 31, 2022	381,659 shares
As of December 31, 2021	457,997 shares

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

Fiscal year ended December 31, 2022	45,257,379 shares
Fiscal year ended December 31, 2021	45,186,688 shares

Reference: Summary of non-consolidated performance

1. Non-consolidated performance for the fiscal year ended December 31, 2022

(from January 1, 2022 to December 31, 2022)

(1) Non-consolidated operating results				(Percentages indicate year-on-year changes.)
		Net sales			Operating profit	Ordinary profit	Profit
	Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	December 31, 2022	84,061	4.5	2,614	48.5	3,508	139.1	2,307	324.0
	December 31, 2021	80,429	(6.9)	1,761	38.8	1,467	76.5	544	14.7
		Earnings		Diluted earnings
		per share			per share
	Fiscal year ended	Yen			Yen
	December 31, 2022	50.97			49.69
	December 31, 2021	12.04			11.97
(2) Non-consolidated financial position
		Total assets			Net assets		Equity ratio	Net assets per share
	As of	Millions of yen	Millions of yen		%		Yen
	December 31, 2022	85,447	38,161		44.6		841.74
	December 31, 2021	75,412	36,422		48.2		804.69
	Reference: Equity

As of December 31, 2022: 38,116 million yen

As of December 31, 2021: 36,377 million yen

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• Financial results reports are not required to be audited by certified public accountants or an audit corporation.
• Explanation concerning proper use of earnings forecasts and other specific matters

All forward-looking statements in this document are prepared based on information available as of the issuing date of this report. Actual results may differ from the forecast figures due to various factors.

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Consolidated financial statements

(1) Consolidated balance sheets

			(Millions of yen)
		As of December 31, 2021	As of December 31, 2022
Assets
Current assets
Cash and deposits	17,351	26,876
Notes and accounts receivable - trade	26,783	-
Notes and accounts receivable - trade, and contract	-	29,316
assets
Electronically recorded monetary claims - operating	2,059	3,008
Securities	100	100
Merchandise and finished goods	5,136	4,998
Work in process	2,685	2,010
Raw materials and supplies	2,606	2,920
Other	1,663	1,991
Allowance for doubtful accounts	(632)	(194)
Total current assets	57,753	71,027
Non-current assets
Property, plant and equipment
Buildings and structures	35,304	32,083
Accumulated depreciation	(25,575)	(20,706)
Buildings and structures, net	9,729	11,377
Machinery, equipment and vehicles	16,372	15,082
Accumulated depreciation	(14,105)	(12,596)
Machinery, equipment and vehicles, net	2,266	2,486
Land	9,532	8,436
Leased assets	1,861	1,829
Accumulated depreciation	(1,051)	(1,149)
Leased assets, net	809	680
Construction in progress	410	626
Other	11,221	10,409
Accumulated depreciation	(9,552)	(9,037)
Other, net	1,669	1,372
Total property, plant and equipment	24,417	24,978
Intangible assets
Goodwill	1,317	517
Other	2,797	1,302
Total intangible assets	4,114	1,819
Investments and other assets
Investment securities	5,512	5,057
Deferred tax assets	2,586	3,084
Retirement benefit asset	1,705	1,490
Other	8,273	8,296
Allowance for doubtful accounts	(465)	(466)
Total investments and other assets	17,612	17,462
Total non-current assets	46,144	44,260
Total assets		103,898	115,288

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