Quarterly Financial Report (FY2021 Q2)

(English translation and a part of summary of the Quarterly Report for the fiscal second quarter ended September 30, 2021, pursuant to the Japanese Financial Instrument and Exchange Law.)

Quarterly Financial Report

For the fiscal second quarter ended September 30, 2021

Advantest Corporation

1. Condensed Consolidated Financial Statements

(1) Condensed Consolidated Statement of Financial Position

					Millions of Yen
	Note	As of			As of
	March 31, 2021			September 30, 2021
Assets
Current assets
Cash and cash equivalents		149,164	146,716
Trade and other receivables		57,028	55,747
Inventories		64,340	75,742
Other current assets		8,563	9,922
Total current assets		279,095			288,127
Non-current assets
Property, plant and equipment, net		41,613	43,334
Right-of-use assets		11,668	10,701
Goodwill and intangible assets, net	12	54,543	54,033
Other financial assets	11	10,211	13,196
Deferred tax assets		25,242	25,088
Other non-current assets		269		475
Total non-current assets		143,546	146,827
Total assets		422,641			434,954
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables		58,558	55,574
Income tax payables		8,619	13,114
Provisions		4,058	4,575
Lease liabilities		2,486	2,496
Other financial liabilities	11	3,509	4,740
Other current liabilities		12,581	18,292
Total current liabilities		89,811			98,791
Non-current liabilities
Lease liabilities		9,364	8,390
Retirement benefit liabilities		36,891	35,958
Deferred tax liabilities		4,473	4,180
Other non-current liabilities		1,733	1,506
Total non-current liabilities		52,461			50,034
Total liabilities		142,272			148,825
Equity
Share capital		32,363	32,363
Share premium		44,573	44,236
Treasury shares	6	(15,001)	(30,732)
Retained earnings		214,858	233,860
Other components of equity		3,576		6,402
Total equity attributable to		280,369	286,129
owners of the parent
Total equity		280,369			286,129
Total liabilities and equity		422,641			434,954

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1. Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement of Comprehensive Income

Condensed Consolidated Statement of Profit or Loss

				Millions of Yen
	Note	Six months ended		Six months ended
	September 30, 2020		September 30, 2021
Net sales	5, 8	144,102	187,990
Cost of sales		(64,476)	(83,237)
Gross profit		79,626		104,753
Selling, general and		(51,253)	(57,071)
administrative expenses
Other income	9	2,646	344
Other expenses		(82)	(550)
Operating income	5	30,937		47,476
Financial income		78	33
Financial expenses		(1,695)	(249)
Income before income taxes		29,320		47,260
Income taxes		(4,829)	(12,014)
Net income		24,491		35,246
Net income attributable to:
Owners of the parent		24,491	35,246
Earnings per share:	10	Yen		Yen
Basic		123.61	179.52
Diluted		122.97	178.60
				Millions of Yen
	Note	Three months ended		Three months ended
	September 30, 2020		September 30, 2021
Net sales	5	77,377	90,874
Cost of sales		(35,704)	(40,866)
Gross profit		41,673		50,008
Selling, general and		(26,721)	(28,801)
administrative expenses
Other income		2,574	181
Other expenses		(47)	(37)
Operating income	5	17,479		21,351
Financial income		32	202
Financial expenses		(1,086)	(34)
Income before income taxes		16,425		21,519
Income taxes		(2,484)	(5,617)
Net income		13,941		15,902
Net income attributable to:
Owners of the parent		13,941	15,902
Earnings per share:	10	Yen		Yen
Basic		70.48	81.08
Diluted		70.12	80.72

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Condensed Consolidated Statement of Comprehensive Income

			Millions of Yen
	Six months ended		Six months ended
	September 30, 2020		September 30, 2021
Net income	24,491	35,246
Other comprehensive income (loss), net of tax
Items that will not be reclassified to profit or loss
Net change in fair value measurements of equity	(333)	1,985
instruments at fair value through other comprehensive
income
Items that may be subsequently reclassified to profit or loss	(1,427)	841
Exchange differences on translation of foreign operations
Total other comprehensive income (loss)	(1,760)		2,826
Total comprehensive income for the period	22,731		38,072
Comprehensive income attributable to:
Owners of the parent	22,731	38,072

			Millions of Yen
	Three months ended		Three months ended
	September 30, 2020		September 30, 2021
Net income	13,941	15,902
Other comprehensive income (loss), net of tax
Items that will not be reclassified to profit or loss
Net change in fair value measurements of equity	(349)	1,713
instruments at fair value through other comprehensive
income
Items that may be subsequently reclassified to profit or loss	(998)	582
Exchange differences on translation of foreign operations
Total other comprehensive income (loss)	(1,347)		2,295
Total comprehensive income for the period	12,594		18,197
Comprehensive income attributable to:
Owners of the parent	12,594	18,197

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(3) Condensed Consolidated Statement of Changes in Equity Six months ended September 30, 2020

Millions of Yen

						Equity attributable to owners of the parent
			Share			Share			Treasury			Retained			Other							Total
	Note									components			Total
	capital			premium			shares			earnings								Equity
Balance as of April 1, 2020															of equity
		32,363			43,550		(4,179)			159,803		(85)			231,452			231,452
Net income										24,491				24,491	24,491
Other comprehensive income													(1,760)	(1,760)	(1,760)
(loss), net of tax
Total comprehensive income for			－			－			－	24,491	(1,760)	22,731	22,731
the period
Purchase of treasury shares	6			(13)	(11,732)							(11,745)	(11,745)
Disposal of treasury shares				(142)	1,357	(539)				676	676
Dividends	7									(8,135)				(8,135)	(8,135)
Share-based payments					518											518		518
Total transactions with the			－	363	(10,375)	(8,674)			－ (18,686)	(18,686)
owners
Balance as of September 30, 2020			32,363			43,913		(14,554)			175,620		(1,845)			235,497			235,497
Six months ended September 30, 2021																Millions of Yen
						Equity attributable to owners of the parent
			Share			Share			Treasury			Retained			Other							Total
	Note									components			Total
	capital			premium			shares			earnings								Equity
Balance as of April 1, 2021															of equity
		32,363			44,573		(15,001)			214,858		3,576			280,369			280,369
Net income										35,246				35,246	35,246
Other comprehensive income													2,826	2,826	2,826
(loss), net of tax
Total comprehensive income for			－			－			－			35,246		2,826			38,072			38,072
the period
Purchase of treasury shares	6			(1)	(17,760)							(17,761)	(17,761)
Disposal of treasury shares				(978)	1,963	(468)				517	517
Cancellation of treasury shares							66	(66)						－				－
Dividends	7									(15,715)				(15,715)	(15,715)
Share-based payments				642										642	642
Other										5				5	5
Total transactions with the			－			(337)		(15,731)			(16,244)			－		(32,312)			(32,312)
owners
Balance as of September 30, 2021			32,363			44,236		(30,732)			233,860		6,402			286,129			286,129

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