Sumitomo Bakelite : Summary of Consolidated Business Results for the Nine Months Ended December 31, 2022

Summary of Consolidated Business Results

for the Nine Months Ended December 31, 2022 [IFRS]

February 6, 2023

Company name

: Sumitomo Bakelite Co., Ltd.

Stock exchanges

: Tokyo

Securities code

: 4203

URL

:https://www.sumibe.co.jp/english

Representative

: Kazuhiko Fujiwara, President

Contact person

: Tsuyoshi Ueda, Manager of Corporate Communications Dept., Corporate General Affairs Div.

TEL [phone]

Date of the submission of Quarterly Securities Report

: February 8, 2023

Date of the start of dividend payment

: -

Quarterly results supplementary documents

: Yes

Quarterly results briefing

: Yes (For analysts and institutional investors)

(All amounts presented in million yen are rounded to the nearest million yen.)

1. Consolidated Business Results for the Nine Months ended December 31, 2022

(1) Consolidated Financial Results

(% represents year-over-year increase (decrease).)

Revenue

Business profit

Operating profit

Profit before tax

Profit attributable to

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

April 2022 - December 2022

216,649

10.6

20,308

( 4.2)

20,013

( 4.6)

21,253

( 2.4)

16,155

0.1

April 2021 - December 2021

195,928

31.5

21,207

84.0

20,984

13.1

21,786

50.1

16,137

36.8

Basic earnings

Diluted earnings

per share

per share

Yen

Yen

April 2022 - December 2022

343.32

-

April 2021 - December 2021

342.93

-

(Note) "Business profit" is calculated by deducting "Cost of sales" and "Selling, general and administrative expenses" from "Revenue."

(2) Consolidated Financial Position

		Total assets			Total equity		Equity attributable to	Ratio of equity attributable
						owners of parent	to owners of parent
		Millions of yen			Millions of yen				Millions of yen			%
As of December 31, 2022	370,701			249,346			247,069			66.6
As of March 31, 2022	370,836			232,136			229,784			62.0
2. Dividends
						Annual dividends per share
		1st quarter		2nd quarter		3rd quarter		4th quarter	Total
		Yen				Yen					Yen				Yen		Yen
April 2021 - March 2022	-				50.00					-			60.00	110.00
April 2022 - March 2023	-				60.00					-
April 2022 - March 2023														60.00	120.00
(Forecasts)
(Note) Revisions of the latest dividend forecasts: None
3. Consolidated Financial Forecasts for the Year Ending March 31, 2023
											(% represents year-over-year increase (decrease).)
		Revenue			Business profit		Profit attributable to	Basic earnings per share
					owners of parent
		Millions of yen		%		Millions of yen	%		Millions of yen		%			Yen
April 2022 - March 2023		286,000		8.7		25,200	( 4.9)		20,000		9.3		425.03
(Note) Revisions of the latest consolidated financial forecasts: Yes

[Notes]

(1) Changes in significant subsidiaries (changes in " Specified Subsidiaries " accompanying changes in scope of consolidation) during this period : None

(2)	Changes in accounting policies and changes in accounting estimates
	a) Changes in accounting policies required by IFRS	: None
	b) Changes in accounting policies other than a)	: None
	c) Changes in accounting estimates	: None
(3)	Number of outstanding shares				(Shares)
	a) Number of outstanding shares (including treasury shares)	As of December 31, 2022	49,590,478	As of March 31, 2022	49,590,478
	b) Number of treasury shares	As of December 31, 2022	2,535,593	As of March 31, 2022	2,534,727
	c) Average number of outstanding shares during the period	April 2022 - December 2022	47,055,274	April 2021 - December 2021	47,056,921
	(excluding treasury shares)

(Information on implementation status of quarterly review)

This "Summary of Consolidated Business Results " is not subject to quarterly review procedures by certified public accountants or audit firm.

(Information on appropriate use of forecasts)

The forecasts stated in this summary are based on information which is currently available to Sumitomo Bakelite Co., Ltd. and certain assumptions regarded to be reasonable. Since they do not guarantee future performance, there are possibilities that actual results may differ due to various factors.

Condensed Quarterly Consolidated Financial Statements

(1) Condensed Quarterly Consolidated Statements of Financial Position

		(Millions of yen)
	March 31, 2022	December 31, 2022
Assets
Current assets
Cash and cash equivalents	109,217	90,598
Trade and other receivables	59,414	65,162
Other financial assets	47	1,619
Inventories	50,276	57,601
Other current assets	4,337	4,194
Total current assets	223,291	219,175
Non-current assets
Property, plant and equipment	101,456	105,529
Right-of-use assets	6,963	7,674
Goodwill	1,260	1,304
Other intangible assets	2,488	2,383
Other financial assets	27,539	26,804
Retirement benefit asset	5,500	5,372
Deferred tax assets	2,211	2,181
Other non-current assets	128	280
Total non-current assets	147,546	151,526
Total assets	370,836	370,701

1

		(Millions of yen)
	March 31, 2022	December 31, 2022
Liabilities and equity
Liabilities
Current liabilities
Borrowings	35,155	22,169
Trade and other payables	56,316	54,236
Other financial liabilities	1,422	1,425
Income taxes payable	3,241	2,790
Provisions	200	187
Other current liabilities	776	708
Total current liabilities	97,110	81,515
Non-current liabilities
Borrowings	23,467	21,381
Other financial liabilities	3,578	4,114
Retirement benefit liability	4,148	4,297
Provisions	1,235	1,270
Deferred tax liabilities	8,592	8,252
Other non-current liabilities	571	527
Total non-current liabilities	41,591	39,840
Total liabilities	138,701	121,355
Equity
Share capital	37,143	37,143
Capital surplus	35,137	35,137
Treasury shares	( 6,794)	( 6,798)
Other components of equity	24,915	31,421
Retained earnings	139,383	150,166
Total equity attributable to owners of parent	229,784	247,069
Non-controlling interests	2,352	2,277
Total equity	232,136	249,346
Total liabilities and equity	370,836	370,701

2

1. Condensed Quarterly Consolidated Statements of Income and Comprehensive Income (Condensed quarterly consolidated statements of income)

		(Millions of yen)
	Nine months ended	Nine months ended
	December 31, 2021	December 31, 2022
	(From April 1, 2021	(From April 1, 2022
	to December 31, 2021)	to December 31, 2022)
Revenue	195,928	216,649
Cost of sales	( 134,699)	( 154,120)
Gross profit	61,228	62,529
Selling, general and administrative expenses	( 40,022)	( 42,221)
Business profit	21,207	20,308
Other income	114	211
Other expenses	( 336)	( 506)
Operating profit	20,984	20,013
Finance income	1,034	1,524
Finance costs	( 232)	( 284)
Profit before tax	21,786	21,253
Income tax expenses	( 5,406)	( 4,821)
Profit	16,381	16,432
Profit attributable to:
Owners of parent	16,137	16,155
Non-controlling interests	243	277
Profit	16,381	16,432
Earnings per share
Basic earnings per share (Yen)	342.93	343.32
Diluted earnings per share (Yen)	-	-

3