Sekisui Jushi : Summary of Consolidated Financial Results for the Three Months Ended June 30,2022 (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 Three Months Ended June 30, 2022 (Based on Japanese GAAP)

				July 26, 2022
Company name:	Sekisui Jushi Corporation
Stock exchange listing:	Tokyo
Stock code:	4212	URL https://www.sekisuijushi.co.jp
Representative:	President and Representative Director,CEO	Hiroshi Baba
Inquiries:	Executive Officer,Management, Corporate	Banjo Fujii	TEL [phone]
Administration
Scheduled date to file Quarterly Securities Report:	August 5, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
(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	%
Three months ended June 30, 2022	13,804		(1.5)	1,647		(22.7)	1,864		(21.5)	1,095	(24.9)
Three months ended June 30, 2021	14,010		7.7	2,130		24.8	2,374		16.9	1,459	15.7
	Earnings per share		Diluted earnings per share
			Yen			Yen
Three months ended June 30, 2022			26.71				-
Three months ended June 30, 2021			34.23				-
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of June 30, 2022	132,640	108,187				80.4
As of March 31, 2022	135,606	108,387				78.8

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, 2022	-	28.00	-	34.00	62.00
Year ending March 31, 2023	-
Year ending March 31, 2023 (Forecast)		31.00	-	31.00	62.00

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
Six months ending	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
29,700	1.1	3,800	(11.5)	4,100	(10.4)	2,830	(5.8)	68.98
September 30, 2022
Full year	67,400	2.3	10,000	(8.1)	10,500	(7.9)	7,430	(3.0)	181.11

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2022 (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

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 June 30, 2022	43,313,598	shares	As of March 31, 2022	43,313,598	shares
Number of treasury shares at the end of the period
	As of June 30, 2022	2,297,507	shares	As of March 31, 2022	2,296,842	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2022	41,016,291	shares	Three months ended June 30, 2021	42,622,813	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	47,031	46,903
Notes and accounts receivable - trade	17,000	13,271
Electronically recorded monetary claims - operating	7,012	6,918
Merchandise and finished goods	2,513	2,828
Work in process	1,096	1,462
Raw materials and supplies	3,657	4,027
Other	1,251	1,448
Allowance for doubtful accounts	(24)	(19)
Total current assets	79,540	76,840
Non-current assets
Property, plant and equipment	14,094	14,063
Intangible assets	249	239
Investments and other assets
Investment securities	17,276	17,019
Retirement benefit asset	824	860
Other	24,190	24,221
Allowance for doubtful accounts	(568)	(604)
Total investments and other assets	41,722	41,496
Total non-current assets	56,066	55,800
Total assets	135,606	132,640
Liabilities
Current liabilities
Notes and accounts payable - trade	8,234	7,376
Electronically recorded obligations - operating	5,532	5,138
Short-term borrowings	1,000	1,000
Provisions	907	356
Other	7,465	6,689
Total current liabilities	23,139	20,561
Non-current liabilities
Provision for retirement benefits for directors (and other	86	81
officers)
Retirement benefit liability	2,024	2,027
Deferred tax liabilities	1,489	1,403
Other	477	378
Total non-current liabilities	4,079	3,891
Total liabilities		27,218	24,452

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			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Net assets
Shareholders' equity
Share capital	12,334	12,334
Capital surplus	13,154	13,154
Retained earnings	81,741	81,439
Treasury shares	(4,619)	(4,620)
Total shareholders' equity	102,610	102,308
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	4,014	3,841
Deferred gains or losses on hedges	13	22
Foreign currency translation adjustment	194	502
Remeasurements of defined benefit plans	(14)	(13)
Total accumulated other comprehensive income	4,207	4,353
Non-controlling interests	1,569	1,526
Total net assets	108,387	108,187
Total liabilities and net assets		135,606	132,640

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

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2021	June 30, 2022
Net sales	14,010	13,804
Cost of sales	9,265	9,632
Gross profit	4,744	4,172
Selling, general and administrative expenses	2,614	2,524
Operating profit	2,130	1,647
Non-operating income
Dividend income	191	186
Other	77	103
Total non-operating income	268	290
Non-operating expenses
Provision of allowance for doubtful accounts	-	36
Other	23	36
Total non-operating expenses	23	73
Ordinary profit	2,374	1,864
Extraordinary losses
Loss on sale and retirement of non-current assets	4	6
Total extraordinary losses	4	6
Profit before income taxes	2,369	1,857
Income taxes	884	738
Profit	1,485	1,119
Profit attributable to non-controlling interests	25	23
Profit attributable to owners of parent		1,459	1,095

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