Torishima Pump Mfg : RESULTS OF OPERATIONS FOR THE FIRST QUARTER ENDED JUNE 30,2020(CONSOLIDATED)(Japanese GAAP)

RESULTS OF OPERATIONS FOR

THE FIRST QUARTER ENDED JUNE 30, 2020 (CONSOLIDATED)

Listed company name:

(Japanese GAAP)

August 11, 2020

Torishima Pump Mfg. Co., Ltd.

Stock exchange listings:

First Section of Tokyo Stock Exchange

URL:http://www.torishima.co.jp

Code number:

6363

Representative:

Kotaro Harada, President

Contact person:

Atsuo Mabuchi, Executive officer, General Manager of Accounting Department

Phone:

[phone]

August 11, 2020

Scheduled date of filing quarterly financial statements:

Scheduled date of starting dividend payment: -

Preparing supplementary material on quarterly financial results: No

Holding quarterly financial results presentation meeting:

No

Note: The amounts are rounded down to the nearest million.

1. Consolidated financial results of the first quarter ended June 30, 2020 (April 1, 2020 through June 30, 2020)

(1) Operating results

Millions of yen, except per share data

Net sales

Operating income

Ordinary income

Net income attributable to

First quarter ended

%

%

%

owners of parent

%

9,486

10.2

△31

-

19

-

△39

-

June 30, 2020

First quarter ended

8,608

6.4

△278

-

△353

-

△442

-

June 30, 2019

Note: Comprehensive

income: (First quarter ended June 30, 2020) ¥ 343million (-%)

(First quarter ended June 30, 2019) ¥△945 million (-%)

Net income per share

Net income per share-Diluted

First quarter ended June 30, 2020

Yen

Yen

△ .47

-

Note: % represents percentage change from

a comparable previous period

First quarter ended June 30, 2019

△16.24

(2) Financial position

Millions of yen, except per equity ratio

June 30, 2020

Total assets

Net assets

33,454

Net assets per share %

74,555

4 5

March 31, 2020

72,961

33,470

45.4

(Reference): Shareholders' equity: (June 30, 2020) ¥ 33,142 million

(March 31, 2020) ¥ 33,141 million

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2. Dividends

						Dividends per share
			End of 1Q		End of 2Q	End of 3Q	Fiscal year end	Annual
	2019		Yen		Yen		Yen	Yen	Yen
		-		9.00		-	9.00	18.00
	FY2020
	FY2020 (Forecast)				9.00		-	9.00	18.00
	Note1: Revision of forecast for dividend		during this quarter: No

3. Amid the spread of new coronavirus infections, COVID-19, it is difficult to make a rational calculation of the consolidated financial forecasts at this point. The Company will announce the new forecasts as soon as reasonable estimates are available.

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	Consolidated quarterly financial statement			(Millions of yen)
	(1) Consolidated quarterly balance sheet
	Assets	As of March 31, 2020		As of June 30, 2020
	Current assets
	Cash and deposits	16,277	23,582
	Notes and accounts receivable - trade	25,727	17,326
	Merchandise and finished goods	264	318
	Work in process	7,916	8,570
	Raw materials and supplies	1,940	1,923
	Advance payments - trade	649	633
	Other	1,353	1,342
	Allowance for doubtful accounts	△1,885		△1,794
	Total current assets	52,243	51,903
	Non-current assets
	Property, plant and equipment	11,695	13,033
	Intangible assets	413	308
	Investments and other assets
	Investment securities	7,917		8,676
	Other	1,172	1,079
	Allowance for doubtful accounts	△480		△445
	Total investments and other assets	8,609	9,310
	Total non-current assets	20,717	22,652
	Total assets		72,961		74,555

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				(Millions of yen)
	Liabilities	As of March 31, 2020	As of June 30, 2020
	Current liabilities
	Notes and accounts payable - trade	11,863	10,446
	Short-term borrowings	3,452	3,514
	Income taxes payable	297	175
	Advances received	3,242	4,608
	Provision for bonuses	822	416
	Provision for product warranties	595	580
	Provision for loss on construction contracts	831	802
	Other	2,700	4,320
	Total current liabilities	23,806	24,864
	Non-current liabilities
	Long-term borrowings	14,116	14,505
	Deferred tax liabilities	336	547
	directorsProvision(andfor retirementother officers)benefits for		2	2
	Retirement benefit liability		279	256
	Other	949	924
	Total non-current liabilities	15,683	16,237
	Total liabilities	39,490	41,101
	Net assets
	Shareholders' equity
	Share capital	1,592	1,592
	Capital surplus	7,372	7,375
	Retained earnings	24,656	24,373
	Treasury shares	△1,733	△1,851
	Total shareholders' equity	31,888	31,489
	Accumulated other comprehensive income
	securitiesValuation difference on available-for-sale	822	1,305
	Deferred gains or losses on hedges	△42	△24
	Foreign currency translation adjustment	310	214
	Remeasurements of defined benefit plans	163	156
	incomeTotal accumulated other comprehensive	1,253	1,652
	Share acquisition rights	121	112
	Non-controlling interests	207	199
	Total net assets	33,470	33,454
	Total liabilities and net assets		72,961	74,555

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1. Consolidated quarterly statement of (comprehensive) income Consolidated quarterly statement of income (April 1 - June 30, 2020)

						(Millions of yen)
				Three months ended		Three months ended
				June 30, 2019		June 30, 2020
	Net sales			8,608		9,486
	Cost of sales			6,324		7,219
	Gross profit		2,283	2,267
	Selling, general and administrative expenses		2,562	2,299
	Operating loss			△278		△31
	Non-operating income
	Dividend income			109		109
	Rental income			23		26
	methodShare of profit of entities accounted for using equity					4
	Other			－
			128		90
	Total non-operating income		261	231
	Non-operating expenses
	Interest expenses	31	32
	Foreign exchange losses	228	125
	methodShare of loss of entities accounted for using equity			13
	Other					－
			62		22
	Total non-operating expenses		336	179
	Ordinary profit (loss)			△353	19
	Extraordinary income
			－
	Gain on sales of investment securities			－	16
	Total extraordinary income				16
	Extraordinary losses					－
	Loss on sales of investment securities	12		－
	Loss on valuation of investment securities		15		－
	Total extraordinary losses	27
	Profit (loss) before income taxes			△381	36
	Income taxes		48	77
	Loss			△430		△40
	Profit (loss) attributable to non-controlling interests		12		△0
	Loss attributable to owners of parent			△442		△39

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Consolidated quarterly statement of comprehensive income (April 1 - June 30, 2020)

(Millions of yen)

			Three months ended	Three months ended
	Loss	June 30, 2019△430	June 30, 2020	△40
	Other comprehensive income
	Valuation difference on available-for-sale securities	△294		483
	Deferred gains or losses on hedges	96		18
	Foreign currency translation adjustment	△297	△107
	Remeasurements of defined benefit plans, net of tax	△18		△6
	accountedShare of otherfor usingcomprehensiveequity methodincome of entities		△0		△3
	Total other comprehensive income		△515		383
	Comprehensive income	△945		343
	Comprehensive income attributable to
	parentComprehensive income attributable to owners of
		△961		359
	nonComprehensive-controllinginterestsincome attributable to
	16		△16

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Orders received and sales by demand category					(Millions of yen)
Orders received
		From April 1,		From April 1,			Year-	-year
		to June 30, 2019	to June 30, 2020			comparison
Public		3,850		31.6%	5,436		45.2%	1,585	41.2%
Private		2,591		21.3%	3,016		25%	424	16.4%
Overseas		5,737		47.1%	3,582		29.8%		△2,154	△37.6%
Total		12,179		100.0%	12,035		100%		△144	△1.2%
Sales									(Millions of yen)
		From April 1,		From April 1,			Year-	-year
		to June 30, 2019	to June 30, 2020		comparison
Public		2,025		23.5%	2,080		21.9%		55	2.7%
Private		2,372		27.6%	2,256		23.8%		△115	△4.9%
Overseas		4,209		48.9%	5,148		54.3%		938	22.3%
Total		8,608		100%	9,486		100%		878	10.2%
Orders backlog								(Millions of yen)
		As of June 30, 2019	As of June 30, 2020		Yearcomparison- -year
Public		14,410		27.4%	18,342		34.5%	3,931	27.3%
Private		6,666		12.7%	7,159		13.5%	492	7.4%
Overseas		31,436		59.9%	27,687		52%		△3,748	△11.9%
Total		52,513		100%	53,189		100%	675	1.3%

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