MODEC : 2020 Half-Year Financial Results

MODEC, INC. and Consolidated Subsidiaries
CONSOLIDATED BALANCE SHEET
June 30, 2020
A S S E T S
	Millions of
CURRENT ASSETS:	Japanese yen
¥55,599
Cash and time deposits
Accounts receivable-trade	157,197
Inventories	4,502
Short-term loans receivable	12,881
Other current assets	17,390
Less allowance for bad debts	(449)
Total current assets	247,121
PROPERTY AND EQUIPMENT:	4
Machinery and equipment
Other property and equipment	4,447
Total property and equipment	4,452
INTANGIBLE ASSETS:	9,951
INVESTMENTS AND OTHER ASSETS:	68,543
Investment securities
Long-term loans receivable from affiliates	38,689
Other investments	12,419
Total investments and other assets	119,652
Total assets	¥381,177

* The figures are rounded down to the nearest million yen.

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES:

Accounts payable-trade

Short-term loans payable

Current portion of long-term loans payable

Accrued expenses

Income taxes payable

Advances received

Accrued employees' bonuses

Accrued directors' bonuses

Provision for loss on construction contracts

Provision for product warranty

Provision for repairs

Other current liabilities

Total current liabilities

LONG-TERM LIABILITIES:

Long-term loans payable

Net defined benefit liabilities

Other long-term liabilities

Total long-term liabilities

Total liabilities

NET ASSETS:

SHAREHOLDERS' EQUITY:

Common stock;

Authorized - 102,868,000 shares

Issued - 56,408,000 shares

Capital surplus

Retained earnings

Treasury stock, at cost

Total shareholders' equity

ACCUMULATED OTHER COMPREHENSIVE INCOME: Unrealized gains (losses) on hedging derivatives, net of tax Foreign currency translation adjustments

Retirement liability adjustments for foreign consolidated subsidiaries Total accumulated other comprehensive income

NON-CONTROLLING INTERESTS

Total net assets

Total liabilities and net assets

* The figures are rounded down to the nearest million yen.

Millions of

Japanese yen

¥158,502 9,478 5,777 15,318 4,722 34,198

43

5

7,549

7,462

5,185

7,481

255,727

7,849

865

20,116

28,830

284,558

30,122

29,301

61,035

(169)

120,290

(23,670)

(2,389)

(1,052)

(27,112)

3,441

96,619 ¥381,177

MODEC, INC. and Consolidated Subsidiaries
CONSOLIDATED STATEMENT OF OPERATION
For the six months ended June 30, 2020
	Millions of
SALES	Japanese yen
¥156,446
COST OF SALES	162,767
Gross profit (loss)	(6,321)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	5,769
Operating profit (loss)	(12,090)
OTHER INCOME (EXPENSES):	2,238
Interest income
Equity in earnings of unconsolidated subsidiaries and affiliates, net	2,078
Foreign exchange gain (loss), net	(723)
Interest expense	(350)
Gain (loss) on revaluation of derivatives	(319)
Retirement benefit expenses	(447)
Others, net	230
Total other income (expenses)	2,706
PROFIT (LOSS) BEFORE INCOME TAXES	(9,383)
INCOME TAXES:	1,519
Current
Prior	145
Deferred	(1,313)
PROFIT (LOSS)	(9,734)
PROFIT (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	(88)
PROFIT (LOSS) ATTRIBUTABLE TO OWNERS OF PARENT	(¥9,645)
* The figures are rounded down to the nearest million yen.
Earnings (loss) per share	(¥171.18)

MODEC, INC. and Consolidated Subsidiaries

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2020

PROFIT(LOSS)

OTHER COMPREHENSIVE INCOME:

Unrealized gains (losses) on hedging derivatives, net of tax Foreign currency translation adjustments

Retirement liability adjustments for foreign consolidated subsidiaries

Share of other comprehensive income (loss) of unconsolidated subsidiaries and affiliates accounted for using equity method

Total other comprehensive income (loss)

COMPREHENSIVE INCOME

Comprehensive income attributable to owners of parent

Comprehensive income attributable to non-controlling interests

* The figures are rounded down to the nearest million yen.

Millions of

Japanese yen

(¥9,734)

(648)

(3,981)

44

(13,178)

(17,763)

(¥27,497)

(¥27,363) (¥133)