Nicca Chemical : Summary of Consolidated Financial Results for the Nine 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 Nine Months Ended September 30, 2021 (Based on Japanese GAAP)

October 28, 2021

Company name:

Nicca Chemical Co., Ltd.

Stock exchange listing: Tokyo, Nagoya

Stock code:

4463

URL

https://www.nicca.co.jp/

Representative:

President and Representative

EMORI Yasumasa

Inquiries:

Director, Member of the Board

SAWASAKI Shoya

TEL

0776-24-0213

General manager of Administration Division

Scheduled date to file Quarterly Securities Report:

November 12, 2021

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended September 30, 2021 (from January 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

%

Nine months ended September 30, 2021

35,909

19.2

2,177

162.9

2,399

132.4

2,308

303.5

Nine months ended September 30, 2020

30,118

(13.1)

828

(23.2)

1,032

0.5

572

(1.5)

Earnings per share

Diluted earnings per share

Yen

Yen

Nine months ended September 30, 2021

146.60

-

Nine months ended September 30, 2020

36.38

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of September 30, 2021

52,242

26,242

46.1

1,527.19

As of December 31, 2020

53,175

23,166

39.5

1,335.60

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 December 31, 2020

-

4.00

-

6.00

10.00

Year ending December 31, 2021

-

8.00

-

Year ending December 31, 2021 (Forecast)

14.00

22.00

(Note) Revisions to the forecast of cash dividends since the latest announcement:

Yes

3. Forecast of consolidated financial results for the 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 share
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen		%	Yen
Full year	47,500	15.3	2,400	69.4	2,600	58.0	2,350		125.0	149.21
(Note) Revisions to the forecast for financial results since the latest announcement:			Yes

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*Notes
(1)	Changes in significant subsidiaries during the nine months ended September 30, 2021	No
	(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2)	Application of special accounting methods for preparing quarterly consolidated financial statements:	Yes
(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:	No
	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	17,710,000 shares	As of December 31, 2020		17,710,000 shares
	Number of treasury shares at the end of the period
		As of September 30, 2021	1,948,421 shares	As of December 31, 2020		1,972,260 shares
	Average number of shares during the period (cumulative from the beginning of the fiscal year)
		Nine months ended September 30, 2021	15,746,384 shares	Nine months ended September 30, 2020	15,726,640 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Appropriate use of earnings forecasts and other special items

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.

Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual earnings may differ significantly due to various factors.

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Attached Material Index
1. Quarterly consolidated financial statements......................................................................................................................	4
(1)	Consolidated balance sheets..................................................................................................................................................	4
(2)	Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative).....	6
Consolidated statements of income (cumulative).......................................................................................................................	6
Consolidated statements of comprehensive income (cumulative)..............................................................................................	7

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of December 31, 2020	As of September 30, 2021
Assets
Current assets
Cash and deposits	7,962	7,228
Notes and accounts receivable - trade	9,026	8,561
Merchandise and finished goods	4,224	4,376
Work in process	735	768
Raw materials and supplies	3,066	3,669
Other	963	799
Allowance for doubtful accounts	(2)	(2)
Total current assets	25,977	25,402
Non-current assets
Property, plant and equipment
Buildings and structures, net	13,607	13,293
Machinery, equipment and vehicles, net	4,033	3,554
Land	5,261	5,199
Other, net	824	1,237
Total property, plant and equipment	23,726	23,283
Intangible assets
Other	304	276
Total intangible assets	304	276
Investments and other assets
Other	3,167	3,280
Allowance for doubtful accounts	(0)	(0)
Total investments and other assets	3,166	3,280
Total non-current assets	27,197	26,840
Total assets		53,175	52,242

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			(Millions of yen)
		As of December 31, 2020	As of September 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	5,325	5,082
Short-term borrowings	8,033	5,815
Income taxes payable	357	474
Provision for bonuses	556	455
Other	3,088	3,160
Total current liabilities	17,361	14,988
Non-current liabilities
Long-term borrowings	8,267	6,563
Retirement benefit liability	3,223	3,262
Provision for share-based compensation	75	103
Other	1,081	1,082
Total non-current liabilities	12,647	11,011
Total liabilities	30,009	25,999
Net assets
Shareholders' equity
Share capital	2,898	2,898
Capital surplus	2,928	2,928
Retained earnings	16,909	18,997
Treasury shares	(1,465)	(1,444)
Total shareholders' equity	21,271	23,380
Accumulated other comprehensive income
Valuation difference on available-for-sale	365	474
securities
Foreign currency translation adjustment	(308)	477
Remeasurements of defined benefit plans	(309)	(261)
Total accumulated other comprehensive income	(251)	690
Non-controlling interests	2,146	2,171
Total net assets	23,166	26,242
Total liabilities and net assets		53,175	52,242

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