AGC : Consolidated Financial Results for the Six Months ended June 30, 2021 (IFRS basis)

August 2, 2021 Corporate Name: AGC Inc.

(Code Number: 5201; TSE 1st section) (URL: http://www.agc.com)

President & CEO: Yoshinori Hirai

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

Consolidated Financial Results for the Six Months ended June 30, 2021 (IFRS basis)

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

1. Financial Results for the Six months ended June 30, 2021 (January 1 through June 30, 2021)

(1) Consolidated operating results

(% represents the change from the same period in the previous fiscal year.)

	For the Six months ended	For the Six months ended
	June 30, 2021		June 30, 2020
	Millions of yen	%	Millions of yen	%
Net sales	811,332	24.0	654,545	(11.2)
Operating profit	95,208	362.6	20,579	(50.4)
Profit before tax	97,133	490.3	16,456	(61.3)
Profit for the period	78,913	495.0	13,262	(63.5)
Profit for the period attributable to owners of the parent	63,843	458.0	11,440	(64.6)
Total comprehensive income for the period	157,425	-	(53,440)	-
Basic earnings per share (yen)	288.33		51.70
Diluted earnings per share (yen)	287.20		51.49

(2) Consolidated financial position

	FY2021 second quarter	FY2020
	(as of June 30, 2021)	(as of December 31, 2020)
Total assets (millions of yen)	2,680,907	2,534,458
Total equity(millions of yen)	1,381,451	1,243,039
Equity attributable to owners of the parent	1,238,082	1,115,142
(millions of yen)
Equity attributable to owners of the parent ratio (%)	46.2	44.0

2. Dividends				(Unit: yen)
	FY2020		FY2021		FY2021 (forecast)
End of first quarter		-		-	――――
End of second quarter		60.00		80.00	――――
End of third quarter		-	――――		-
End of fiscal year		60.00	――――		130.00
Total		120.00	――――		210.00

Note: Revision of the forecast during this quarter: Yes

Note 1: The fiscal year-end dividend per share for the year ending December 31, 2021 (forecast) consists of 80.00 yen for ordinary dividend and 50.00 yen for special dividend.

3. Forecast for FY2021 (January 1 through December 31, 2021)

(% represents the change from the same period in the previous fiscal year)

	Full year
	Millions of yen	%
Net sales	1,670,000	18.2
Operating profit	180,000	137.5
Profit before tax	187,000	227.4
Profit for the period	145,000	252.2
Profit for the period attributable to	117,000	257.6
owners of the parent
Basic earnings per share (yen)	528.41

Note: Revision of the forecast for FY2021 consolidated operating results from the latest official forecast: Yes

*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: No

Note: For details, please refer to "1. Condensed Interim Consolidated Financial Statements (IFRS) (5) Notes to the Condensed Interim Consolidated Financial Statements, (Changes in Accounting Policies)" on

page 11.

(3) Number of shares issued (common stock)

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

-FY2021 second quarter (as of June 30, 2021):	227,441,381
-FY2020 (as of December 31, 2020):	227,441,381

1. Number of treasury stock at the end of the period

-FY2021 second quarter (as of June 30, 2021):	5,596,424
-FY2020 (as of December 31, 2020):	5,813,165

1. Average number of shares issued during the period

-For the six months ended June 30, 2021:	221,421,047
-For the six months ended June 30, 2020:	221,282,271

*This interim consolidated financial statement is outside the scope of quarterly review procedures.

*Appropriate Use of Forecast and Other Information and Other Matters

The above forecast is the assumptions of the Group's management on the basis of currently available information and, as such, contain risks and uncertainties. For this reason, investors are advised not to base investment decisions solely on these prospective results. Please note that actual results may materially differ from the projection due to such various factors as business and market environment the Group is active in, currency exchange rate fluctuations, and others.

*Supplementary Material for the Quarterly Financial Results

Supplementary material(Financial Results for the Six Months ended June 30, FY2021) will be published on TD-net for viewing in Japan, and on our Website.

(Attached Documents)

INDEX

1. Condensed Interim Consolidated Financial Statements (IFRS)	2
(1)	Condensed Interim Consolidated Statements of Financial Position	2
(2)	Condensed Interim Consolidated Statements of Profit or Loss and Consolidated Statements of	4
Comprehensive Income
	(Condensed Interim Consolidated Statements of Profit or Loss)	4
	(Condensed Interim Consolidated Statements of Comprehensive Income)	5
(3)	Condensed Interim Consolidated Statements of Changes in Equity	6
(4)	Condensed Interim Consolidated Statements of Cash Flows	10
(5)Notes to the Condensed Interim Consolidated Financial Statements	11
	(Changes in Accounting Policies)	11
	(Changes in Accounting Estimates)	11
	(Segment Information)	12
	(Notes to Other Income and Other Expenses)	14
	(Notes on Significant Subsequent Events)	14

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1. Condensed Interim Consolidated Financial Statements (IFRS)

(1) Condensed Interim Consolidated Statements of Financial Position

			(Unit: millions of yen)
		FY2020	FY2021 second quarter
		(as of December 31, 2020)	(as of June 30, 2021)
Assets
Current assets
	Cash and cash equivalents	236,124	248,059
	Trade receivables	266,177	269,208
	Inventories	274,835	300,280
	Other receivables	62,468	63,185
	Income tax receivables	5,169	3,636
	Other current assets	16,186	22,529
	(Subtotal)	860,962	906,901
	Assets held for sale	-	21,073
	Total current assets	860,962	927,974
Non-current assets
	Property, plant and equipment	1,246,885	1,297,459
	Goodwill	118,063	122,669
	Intangible assets	72,660	76,524
	Investments accounted for using equity method	32,014	38,242
	Other financial assets	130,919	127,119
	Deferred tax assets	25,944	26,297
	Other non-current assets	47,008	64,619
	Total non-current assets	1,673,495	1,752,932
Total assets	2,534,458	2,680,907

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			(Unit: millions of yen)
		FY2020	FY2021 second quarter
		(as of December 31, 2020)	(as of June 30, 2021)
Liabilities and equity
Liabilities
	Current liabilities
	Trade payables	151,874	158,090
	Short-terminterest-bearing debt	106,884	59,966
	Long-terminterest-bearing debt due within one year	87,163	100,411
	Other payables	186,310	206,155
	Income tax payables	12,426	20,077
	Provisions	1,563	1,516
	Other current liabilities	17,676	16,377
	(Subtotal)	563,898	562,595
	Liabilities associated with assets held for sale	-	762
	Total current liabilities	563,898	563,357
	Non-current liabilities
	Long-terminterest-bearing debt	593,912	596,138
	Deferred tax liabilities	35,153	38,660
	Post-employment benefit liabilities	64,736	65,399
	Provisions	12,353	11,186
	Other non-current liabilities	21,363	24,711
	Total non-current liabilities	727,519	736,097
	Total liabilities	1,291,418	1,299,455
Equity
	Share capital	90,873	90,873
	Capital surplus	83,501	82,027
	Retained earnings	818,701	875,533
	Treasury shares	(28,170)	(27,293)
	Other components of equity	150,236	216,941
	Total equity attributable to owners of the parent	1,115,142	1,238,082
	Non-controlling interests	127,897	143,369
	Total equity	1,243,039	1,381,451
Total liabilities and equity	2,534,458	2,680,907

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