Tohto Suisan : Summary of Consolidated Financial Results for the Three Months Ended June 30,2021

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, 2021 (Based on Japanese GAAP)

				August 5, 2021
Company name:	Tohto Suisan Co., Ltd
Stock exchange listing:	Tokyo
Stock code:	8038	URL https://www.tohsui.co.jp
Representative:	President and Representative Director	Koh Ehara
Inquiries:	Operating Officer, Accounting Dept.	Hiroshi Tanaka	TEL [phone]
Scheduled date to file Quarterly Securities Report:	August 13, 2021
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, 2021 (from April 1, 2021 to June 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	%
Three months ended June 30, 2021		18,153				-		162	232.7			213		(7.6)			157	(13.2)
Three months ended June 30, 2020		22,356	(21.9)		48	(42.3)			230		20.1			181	9.1
					Earnings per share		Diluted earnings per share
									Yen						Yen
Three months ended June 30, 2021					39.93							-
Three months ended June 30, 2020					46.02							-
(2) Consolidated financial position
					Total assets					Net assets		Equity ratio				Net assets per share
					Millions of yen			Millions of yen					%				Yen
As of June 30, 2021				30,408					18,633					61.3			4,734.88
As of March 31, 2021				30,068					18,263					60.7			4,641.76
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, 2021					-						-					-			80.00		80.00
Year ending March 31, 2022					-
Year ending March 31, 2022 (Forecast)									-					-			80.00		80.00
Note: Revision of cash dividend forecast most recently announced: No
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
																	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		80,000		-	1,500		4.2		1,600		(8.0)		1,300	(14.7)		330.38

Note 1: Revision of consolidated financial results forecast most recently announced: Yes

Note 2: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter of the current fiscal year, and the figures for the forecast of consolidated financial results for the year ending March 31, 2022 are the figures after applying the accounting standard and relevant ASBJ regulations. As a result of this change, because net sales decreased significantly compared with the previous fiscal year, the year-on-year change is not shown.

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2021 (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

No

(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:	Yes
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, 2021	4,026,000	shares	As of March 31, 2021	4,026,000	shares
Number of treasury shares at the end of the period
	As of June 30, 2021	90,639	shares	As of March 31, 2021	91,328	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2021	3,934,841	shares	Three months ended June 30, 2020	3,934,424	shares

• Quarterly financial results reports are exempt from quarterly review procedures conducted by certified public accountants or an audit corporation.
• Proper use of forecasts of financial results, and other special matters

The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual results may differ substantially due to various factors.

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of June 30, 2021
Assets
Current assets
Cash and deposits	10,287	9,130
Notes and accounts receivable - trade	5,270	5,585
Merchandise and finished goods	1,772	2,652
Work in process	8	7
Raw materials and supplies	94	66
Other	404	453
Allowance for doubtful accounts	(364)	(384)
Total current assets	17,472	17,511
Non-current assets
Property, plant and equipment
Buildings and structures, net	3,447	3,424
Land	3,163	3,173
Other, net	851	851
Total property, plant and equipment	7,461	7,449
Intangible assets	2,438	2,777
Investments and other assets
Other	2,867	2,841
Allowance for doubtful accounts	(171)	(171)
Total investments and other assets	2,695	2,670
Total non-current assets	12,596	12,897
Total assets	30,068	30,408
Liabilities
Current liabilities
Notes and accounts payable - trade	2,368	2,642
Short-term borrowings	2,346	2,536
Income taxes payable	69	30
Provision for bonuses	54	127
Provision for shareholder benefit program	2	2
Other	1,114	862
Total current liabilities	5,955	6,202
Non-current liabilities
Long-term borrowings	3,127	2,881
Retirement benefit liability	867	807
Provision for share awards	33	30
Provision for share awards for directors (and other	-	1
officers)
Asset retirement obligations	124	124
Other	1,695	1,725
Total non-current liabilities	5,848	5,572
Total liabilities		11,804	11,774

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			(Millions of yen)
		As of March 31, 2021	As of June 30, 2021
Net assets
Shareholders' equity
Share capital	2,376	2,376
Capital surplus	1,085	1,085
Retained earnings	14,885	14,723
Treasury shares	(196)	(195)
Total shareholders' equity	18,149	17,989
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	486	484
Deferred gains or losses on hedges	(10)	(1)
Revaluation reserve for land	360	360
Foreign currency translation adjustment	(741)	(213)
Remeasurements of defined benefit plans	19	13
Total accumulated other comprehensive income	114	643
Total net assets	18,263	18,633
Total liabilities and net assets		30,068	30,408

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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, 2020	June 30, 2021
Net sales	22,356	18,153
Cost of sales	21,224	16,746
Gross profit	1,132	1,407
Selling, general and administrative expenses	1,083	1,244
Operating profit	48	162
Non-operating income
Interest income	12	6
Dividend income	76	44
Subsidy income	11	23
Foreign exchange gains	73	-
Other	21	11
Total non-operating income	195	85
Non-operating expenses
Interest expenses	5	5
Foreign exchange losses	-	26
Other	7	2
Total non-operating expenses	13	34
Ordinary profit	230	213
Extraordinary income
Gain on sale of investment securities	-	7
Total extraordinary income	-	7
Extraordinary losses
Loss on valuation of investment securities	29	-
Total extraordinary losses	29	-
Profit before income taxes	201	220
Income taxes - current	15	39
Income taxes - deferred	4	23
Total income taxes	19	63
Profit	181	157
Profit attributable to owners of parent		181	157

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