Yamatane : Consolidated Financial Results for the Three Months Ended June 30, 2021

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

	Consolidated Financial Results
	for the Three Months Ended June 30, 2021
	[Japanese GAAP]
	August 6, 2021
Company name:	Yamatane Corporation
Stock exchange listing:	Tokyo Stock Exchange
Securities code:	9305
URL:	http://www.yamatane.co.jp
Representative:	Motohiro Yamazaki, Representative Director, President
Contact:	Ichiro Tasaki, General Manager, Accounting & Finance Department, Administration
	Division
Phone:	[phone]

Scheduled date for filing quarterly securities report: August 13, 2021

Scheduled date for commencing dividend payments: -

Preparation of supplementary briefing materials for quarterly financial results: None

Holding of quarterly financial results briefing: None

(Amounts of less than one million yen are truncated.)

1. Consolidated financial results for the three months ended June 30, 2021 (April 1, 2021 to June 30, 2021)

(1) Consolidated operating results				(% indicates year-on-year change)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	June 30, 2021	11,559	-	682	(6.3)	679	(8.0)	325	(17.8)
	June 30, 2020	12,907	(7.7)	727	(23.3)	738	(21.6)	396	(20.3)

Note: Comprehensive income: Three months ended June 30, 2021: ¥149 million [ (56.8)%]

	Three months ended June 30, 2020: ¥346 million [ (27.9)%]
	Basic earnings	Diluted earnings
	per share	per share
Three months ended	Yen	Yen
June 30, 2021	31.53	-
June 30, 2020	38.37	-

Note: The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. has been adopted from the beginning of the first quarter ended June 30, 2021. As a result, net sales reflect the adoption of the accounting standard, etc., and the year-on-year percentage change is not presented.

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
As of	Million yen	Million yen	%	Yen
June 30, 2021	124,026	42,512	32.1	3,859.27
March 31, 2021	123,279	42,923	32.7	3,900.13

Reference: Equity: As of June 30, 2021: ¥39,842 million

As of March 31, 2021: ¥40,264 million

2. Dividends

			Annual dividends per share
		1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
Fiscal year ended		Yen	Yen		Yen	Yen	Yen
	-	0.00		-	52.00	52.00
March 31, 2021
Fiscal year ending		-
March 31, 2022
Fiscal year ending
March 31, 2022			25.00		-	30.00	55.00
(Forecast)

Note: Revision to the most recently announced forecast of dividends: None

3. Consolidated financial results forecast for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31, 2022)

							(% indicates year-on-year change)
							Profit		Basic earnings
	Net sales	Operating profit	Ordinary profit	attributable to
	per share
							owners of parent
First half	Million yen	-	% Million yen	%	Million yen	%	Million yen	%	Yen
23,300	1,170	-	1,000	-	620	-	60.05
Full year	48,100	-	3,000	-	2,710	-	1,650	-	159.82

Note: Revision to the most recently announced forecast of financial results: None

The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. has been adopted from the beginning of the first quarter ended June 30, 2021. As a result, the forecast of financial results reflects the adoption of the accounting standard, etc., and year-on-year percentage changes are not presented.

* Notes:

1. Changes in significant subsidiaries during the current period (changes in specified subsidiaries resulting in a change in the scope of consolidation): None
2. Application of special accounting methods for preparing quarterly consolidated financial statements: Yes
   (Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Primary Notes (3) Notes to Quarterly Consolidated Financial Statements: Application of special accounting methods for preparing quarterly consolidated financial statements" on page 9 of the Japanese version of the attached materials.
3. Changes in accounting policies, changes in accounting estimates, and retrospective restatements
4. 1. Changes in accounting policies due to application of revised accounting standards: Yes
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Retrospective restatements: None
5. Number of common shares issued
6. 1. Number of shares issued at the end of the period (including treasury shares):

As of June 30, 2021: 11,344,181 shares

As of March 31, 2021: 11,344,181 shares

• 1. Number of treasury shares at the end of the period: As of June 30, 2021: 1,020,395 shares
     As of March 31, 2021: 1,020,355 shares
  2. Average number of common shares during the period: Three months ended June 30, 2021: 10,323,791 shares Three months ended June 30, 2020: 10,324,124 shares
• These quarterly financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
• Explanation on appropriate use of financial results forecasts and other matters of note
• • Financial results forecasts and other forward-looking statements provided in these materials are based on information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and are not intended to provide any assurance that they will be accomplished in the future. Actual financial results and other aspects of business performance may differ significantly from these forecasts owing to various factors. Please refer to "1. Qualitative Information on Quarterly Financial Results for the Period under Review (3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the Japanese version of the attached materials for conditions forming the basis for financial results forecasts, notes regarding the use of financial results forecasts, and other information.

Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheet

						(Million yen)
			Previous fiscal year	First quarter under review
			(As of March 31, 2021)	(As of June 30, 2021)
Assets
Current assets
Cash and deposits	16,529	14,240
Notes and accounts receivable - trade	5,668		-
Notes and accounts receivable - trade, and				-		5,605
contract assets
Inventories	1,587	2,185
Other	4,020	3,882
Allowance for doubtful accounts		(0)	(0)
Total current assets	27,804	25,913
Non-current assets
Property, plant and equipment
Buildings and structures, net	16,938	16,726
Land	50,405	50,405
Construction in progress	6,290	9,545
Other, net		7,071	6,983
Total property, plant and equipment		80,706	83,661
Intangible assets	984	977
Investments and other assets
Investment securities	12,231	11,909
Other	1,419	1,421
Allowance for doubtful accounts	(96)	(68)
Total investments and other assets			13,554	13,263
Total non-current assets	95,245	97,901
Deferred assets			228	210
Total assets		123,279	124,026

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					(Million yen)
			Previous fiscal year	First quarter under review
			(As of March 31, 2021)	(As of June 30, 2021)
Liabilities
Current liabilities
Trade accounts payable	2,916	2,881
Short-term borrowings	4,406	5,770
Current portion of long-term borrowings	5,154	4,478
Current portion of bonds payable	4,186	4,186
Other	4,696	3,403
Total current liabilities			21,359	20,719
Non-current liabilities
Bonds payable	24,232	24,232
Long-term borrowings	20,850	22,869
Provision for environmental measures	2	2
Retirement benefit liability	1,676	1,600
Asset retirement obligations	2,325	2,329
Other	9,908	9,760
Total non-current liabilities			58,996	60,794
Total liabilities	80,355	81,514
Net assets
Shareholders' equity
Share capital	10,555	10,555
Capital surplus	3,747	3,747
Retained earnings	21,341	21,130
Treasury shares	(2,233)	(2,233)
Total shareholders' equity			33,411	33,200
Accumulated other comprehensive income
Valuation difference on available-for-sale	4,003	3,791
securities
Revaluation reserve for land	2,872	2,872
Remeasurements of defined benefit plans	(24)	(22)
Total accumulated other comprehensive				6,852		6,641
income
Non-controlling interests			2,659	2,669
Total net assets	42,923	42,512
Total liabilities and net assets			123,279	124,026

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