Kikkoman : Flash Report 2022 (IFRS)

Kikkoman Corporation Flash Report for Fiscal 2022

Consolidated Financial Results

April 27, 2022

Kikkoman Corporation

Flash Report 2022

(IFRS) (Consolidated)

Year ended March 31, 2022

Listed company name:	Kikkoman Corporation
Shares listed:	Tokyo (Prime)
Code No.:	2801
URL:	https://www.kikkoman.com
Representative:	Shozaburo Nakano, President and Chief Operating Officer
Contact:	Kazuki Usui, General Manager, Corporate Communication Department
E-mail:	[e-mail]

Scheduled Date of Ordinary General Meeting of Shareholders:	June 21, 2022
Scheduled Date of Dividend Payment Commencement:	June 22, 2022
Scheduled Date for Release of Annual Securities Report:	June 21, 2022
Supplementary Schedules Preparation:	Yes
Business Performance Presentation to Be Held:	No

(Amounts less than ¥1 million have been omitted in the following tables)

1. Business Performance for the Year Ended March 31, 2022

(April 1, 2021 to March 31, 2022)

1) Business Performance

(Millions of yen)

Revenue	Business profit	Operating profit	Profit before income taxes
Amount	Y o Y (%)	Amount	Y o Y (%)	Amount	Y o Y (%)	Amount	Y o Y (%)
Apr. 1, 2021 - Mar. 31, 2022	516,440	17.5	52,273	22.6	50,682	21.6	54,231	25.6
Apr. 1, 2020 - Mar. 31, 2021	439,411	(0.0)	42,650	12.1	41,672	19.4	43,194	14.2

Profit for the year attributable to owners of the parent	Total comprehensive income for the period
Amount	Y o Y (%)	Amount	Y o Y (%)
Apr. 1, 2021 - Mar. 31, 2022	38,903	24.9	62,670	41.3
Apr. 1, 2020 - Mar. 31, 2021	31,159	16.1	44,346	169.3

Basic earnings per share (yen)	Diluted earnings per share (yen)	ROE attributable to owners of the parent	Profit before income taxes to total assets	Business profit to Revenue
Apr. 1, 2021 - Mar. 31, 2022	202.94	－	11.7%	11.5%	10.1%
Apr. 1, 2020 - Mar. 31, 2021	162.31	－	10.7%	10.3%	9.7%

(Reference) Share of profit of associates accounted for using the equity method

April 1, 2021 to March 31, 2022: ¥ 249 million

April 1, 2020 to March 31, 2021: ¥ 206 million

(Note) Business profit is profit after deducting the cost of sales and selling, general and administrative expenses from revenue.

2) Financial Position

(Millions of yen)

Total assets	Total equity	Total equity attributable to owners of the parent	Equity attributable to owners of the parent to total assets	Equity attributable to owners of the parent per share (yen)
Mar. 31, 2022	503,061	363,907	357,816	71.1%	1,868.13
Mar. 31, 2021	438,508	313,514	308,130	70.3%	1,605.08

3) Cash Flows

(Millions of yen)

Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of the year
Apr. 1, 2021 - Mar. 31, 2022	52,093	(16,105)	(17,900)	79,229
Apr. 1, 2020 - Mar. 31, 2021	57,167	(16,886)	(15,420)	55,678

2. Cash Dividends

Cash dividends per share (yen)	Total cash dividends (full year) (millions of yen)	Dividend payout ratio (consolidated)	Dividend to equity attributable to owners of the parent (consolidated)
Three-month period ended	Six-month period ended	Nine-month period ended	Full year ended	Total
Apr. 1, 2020 -Mar. 31, 2021	－	21.00	－	24.00	45.00	8,641	27.7%	3.0%
Apr. 1, 2021 -Mar. 31, 2022	－	22.00	－	39.00	61.00	11,689	30.1%	3.5%
Apr. 1, 2022 -Mar. 31, 2023 (Estimated)	－	－	－	－	－	－

Note: Cash dividends for the fiscal year ending March 31, 2023 (Estimated) remain undetermined. The expected amount of cash dividends will be announced as soon as it becomes available for disclosure.

3. Forecasts of Business Performance for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023)

Prices of crude oil and raw materials are globally soaring in relation to the situation in Russia and Ukraine. Meanwhile, foreign exchange rate volatility is currently excessive. Accordingly, with the range of uncertainties, it is difficult for the Group to quantify its business results forecasts. The business results forecasts will be announced as soon as they become reasonably foreseeable.

[Notes]

• 1) Changes in important subsidiaries during the period (Changes in certain specific subsidiaries resulting in a revised scope of consolidation): None

• 2) Changes in accounting policy and changes in accounting estimates

  ① Changes in accounting policies required by IFRS: None ② Changes in accounting policy other than those in ① above: None ③ Changes in accounting estimates: None

• 3) Issued and outstanding shares (common stock)

  • ① Shares issued and outstanding at end of period (including treasury stock)

    March 31, 2022 － 193,883,202 shares March 31, 2021 － 193,883,202 shares

  • ② Treasury stock at end of period

    March 31, 2022 － 2,345,706 shares March 31, 2021 － 1,911,533 shares

  • ③ Shares outstanding during the period (cumulative for period, consolidated)

March 31, 2022 － 191,703,315 shares March 31, 2021 － 191,973,212 shares

(Reference) Overview of Non-consolidated Results

1. Business Performance (non-consolidated) for the Year Ended March 31, 2022

(April 1, 2021 to March 31, 2022)

1) Business Performance (non-consolidated)

(Millions of yen)

Net sales	Operating profit	Ordinary profit	Profit
Amount	Y o Y (%)	Amount	Y o Y (%)	Amount	Y o Y (%)	Amount	Y o Y (%)
Apr. 1, 2021 - Mar. 31, 2022	27,166	6.6	10,330	15.5	12,863	31.1	15,193	57.3
Apr. 1, 2020 - Mar. 31, 2021	25,484	8.5	8,944	18.6	9,810	14.9	9,656	18.0

Earnings per share (yen)	Earnings per share (Assuming full dilution) (yen)
Apr. 1, 2021 - Mar. 31, 2022	79.23	－
Apr. 1, 2020 - Mar. 31, 2021	50.28	－

2) Financial Position (non-consolidated)

(Millions of yen)

Total assets	Net assets	Shareholders' equity ratio	Net assets per share (yen)
Mar. 31, 2022	271,420	92,046	33.9 %	480.42
Mar. 31, 2021	226,224	88,080	38.9 %	458.68

(Reference) Total shareholders' equity

March 31, 2022: ¥ 92,046 million March 31, 2021: ¥ 88,080 million

* This flash report is not included in the scope of an audit by certified public accountants or the audit corporations.

* Explanation concerning the appropriate use of financial result forecasts and other special notes

(Caution Regarding Forward-looking Statements)

Prices of crude oil and raw materials are globally soaring in relation to the situation in Russia and Ukraine. Meanwhile, foreign exchange rate volatility is currently excessive. Accordingly, with the range of uncertainties, it is difficult for the Group to quantify its business results forecasts. The business results forecasts will be announced as soon as they become reasonably foreseeable.

(How to obtain supplementary schedules)

Kikkoman will publish supplementary schedules on TD-net for viewing in Japan, and on its website.