AGC : Consolidated Financial Results for the Fiscal Year ended December 31, 2021(PDF 291KB)

February 8, 2022

Corporate Name: AGC Inc. (Code Number: 5201; TSE 1st section)

(URL: https://www.agc.com/) President & CEO: Yoshinori Hirai

Contact: Chikako Ogawa, General Manager, Corporate Communications & Investor Relations Division (Tel: [phone])

Consolidated Financial Results for the Fiscal Year ended December 31, 2021 (IFRS basis)

(Fractions less than one million yen are rounded off.)

1. Financial Results for FY2021 (January 1 through December 31, 2021)

1. Consolidated Operating Results

(Percentage figures show year-on-year changes.)

		FY2021		FY2020
		(Jan. through Dec. 2021)	(Jan. through Dec. 2020)
		millions of yen	%	millions of yen	%
Net sales	1,697,383	20.2	1,412,306	(7.0)
Operating profit	206,168	172.1	75,780	(25.4)
Profit before tax	210,045	267.7	57,121	(25.0)
Profit for the year	159,062	286.4	41,164	(25.9)
Profit for the year attributable to owners of the parent	123,840	278.5	32,715	(26.4)
Total comprehensive income for the year	275,401	-	(3,314)	-
Basic earnings per share (yen)	559.11		147.84
Diluted earnings per share (yen)	557.10		147.24
Profit ratio to equity attributable to owners of the parent (%)	10.2		2.9
Ratio of profit for the year to total assets (%)	7.9		2.3
Ratio of operating profit to net sales (%)	12.1		5.4
Reference: Share of profit of associates and joint ventures accounted for using equity method -FY2021;	2,292 million yen -FY2020; 584million yen
(2) Consolidated Financial Position
		FY2021		FY2020
		(as of December 31, 2021)	(as of December 31, 2020)
Total assets (millions of yen)			2,666,031		2,534,458
Total equity (millions of yen)			1,481,380		1,243,039
Equity attributable to owners of the parent			1,314,161		1,115,142
(millions of yen)
Equity attributable to owners of the parent ratio (%)			49.3		44.0
Equity attributable to owners of the parent per share (yen)			5,930.27		5,038.52

(3) Consolidated Cash Flows

				FY2021			FY2020
				(Jan. through Dec. 2021)	(Jan. through Dec. 2020)
Cash flows from operating activities (millions of yen)			326,713		225,392
Cash flows from investing activities (millions of yen)			(123,787)		(230,248)
Cash flows from financing activities (millions of yen)			(252,259)		128,443
Cash and cash equivalents at the end of the year (millions of yen)			195,830		236,124
2. Dividends
		(Base date)		FY2020		FY2021	FY2022(forecast)
		End of the first quarter (yen)		-			-	-
		End of the second quarter (yen)		60.00			80.00	105.00
Dividend per share		End of the third quarter (yen)		-			-	-
		End of the fiscal year (yen)		60.00			130.00	105.00
		Full fiscal year (yen)		120.00			210.00	210.00
Total dividend distribution (full fiscal year)		26,594			46,597	-
(millions of yen)
Payout ratio (consolidated) (%)		81.2			37.6	40.5
Ratio of dividend distribution to equity attributable to owners of		2.3			3.8	-
the parent (consolidated) (%)

3. Forecast for FY2022 (January 1 through December 31, 2022)

(Percentage figures show year-on-year changes.)

	First half		Full fiscal year
	millions of yen	%	millions of yen		%
Net sales	870,000	7.2	1,800,000		6.0
Operating profit	95,000	(0.2)	210,000		1.9
Profit before tax	-	-	197,000		(6.2)
Profit for the year	-	-	143,000		(10.1)
Profit for the year attributable to owners of the parent	-	-	115,000		(7.1)
Basic earnings per share (yen)	-		518.95

(Note) The forecast for the six months ending June 30, 2022 consists of forecast net sales and operating profit only.

*Notes

1. Changes in significant subsidiaries during the period: No
2. Changes in Accounting Policies and Changes in Accounting Estimates

1. Changes in accounting policies required by IFRS: Yes
2. Changes in accounting policies other than "i" above: No
3. Changes in accounting estimates: Yes

(Note) For details, please refer to "(5) Notes to the Consolidated Financial Statements, 2) Changes in Accounting Policies" on page 17.

,

(3) Number of Shares Issued (ordinary shares)

ⅰ. Number of shares issued (including treasury shares) at the end of the period

-FY2021 (as of December 31, 2021):	227,441,381
-FY2020 (as of December 31, 2020):	227,441,381
ⅱ. Number of treasury shares at the end of the period
-FY2021 (as of December 31, 2021):	5,517,627
-FY2020 (as of December 31, 2020):	5,813,165
ⅲ. Average number of shares issued during the period
-FY2021 (Jan. through Dec. 2021):	221,496,884
-FY2020 (Jan. through Dec. 2020):	221,297,751

[Reference]

(1) Non-Consolidated Operating Results

(Percentage figures show year-on-year changes.)

	FY2021		FY2020
	(Jan. through Dec. 2021)	(Jan. through Dec. 2020)
	millions of yen	%	millions of yen	%
Net sales	566,777	12.2	505,041	(2.3)
Operating income	26,555	-	(120)	-
Ordinary income	124,006	199.9	41,345	(75.6)
Net income	117,246	-	(39,748)	-
Net income per share -basic (yen)	529.34		(179.61)
Net income per share -fully diluted (yen)	527.43		-

(Note) Net income per share-fully diluted(yen) for FY2020 is not shown because the Company posted a net loss per share.

(2) Non-Consolidated Financial Position

		FY2021	FY2020
		(as of December 31, 2021)	(as of December 31, 2020)
Total assets (millions of yen)		1,363,848	1,452,293
Total net assets (millions of yen)		757,892	681,320
Equity ratio (%)		55.5	46.8
Equity per share (yen)		3,413.15	3,068.94
Reference: Total Shareholders' Equity at	-FY2021; 756,360 million yen
	-FY2020; 679,227 million yen

Non-Consolidated Operating Results from the Previous Fiscal Year>

In the fiscal year ended December 31, 2021, the Company's net sales and operating income exceeded those of the previous fiscal year due to increased shipments in each segment compared to the previous fiscal year. Ordinary income and net income also exceeded the results in the previous fiscal year due to loss on valuation of shares of subsidiaries recorded in the previous fiscal year and an increase in dividends received from subsidiaries from the previous fiscal year.

*This consolidated financial statement is outside the scope of annual audit procedure by an auditing firm.

*Appropriate Use of Forecast and Other Information and Other Matters (Notes with regard to the forecast)

The above forecast is based on information available to the Company at the time of publication of this document and assumptions concerning uncertainties which might affect the AGC Group's future financial results. It is not intended to be a guarantee of future events, and may differ from actual results for various reasons. For matters concerning the above forecast, please see page 7.

(Supplementary Materials for the Financial Results

Supplementary materials(Financial Results for FY2021)will be published on TD-net for viewing in Japan, and on our website.

(Attached Documents)
		INDEX
1.	Operating Results	2
(1)	Analysis of Operating Results	2
(2)	Qualitative Information Regarding Consolidated Financial Position	5
(3)	Forecast for FY2022	6
(4)	Allocation and Distribution of Profits and Dividends	7
2.	Basic Policy for adopting Accounting Standards	7
3.	Consolidated Financial Statements (IFRS)	8
(1)	Consolidated Statement of Financial Position	8
(2)	Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income	10
(3)	Consolidated Statement of Changes in Equity	12
(4)	Consolidated Statement of Cash Flows	16
(5)	Notes to the Consolidated Financial Statements	17

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