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    5201   JP3112000009

AGC INC.

(5201)
  Report
Delayed Japan Exchange  -  02:00 2022-09-28 am EDT
4480.00 JPY   -1.32%
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AGC : Consolidated Financial Results for the Six Months ended June 30, 2022 (IFRS basis)

08/02/2022 | 02:10am EDT

August 2, 2022

Corporate Name: AGC Inc.

(Code Number: 5201; TSE Prime Market)

(URL: http://www.agc.com)

President & CEO: Yoshinori Hirai

Contact: Chikako Ogawa, General Manager,

Corporate Communications & Investor Relations Division

(Tel: +81-3-3218-5603)

Consolidated Financial Results for the Six Months ended June 30, 2022 (IFRS basis)

(Figures are rounded down to the nearest million.)

1. Financial Results for the Six months ended June 30, 2022 (January 1 through June 30, 2022)

(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, 2022

June 30, 2021

Millions of yen

%

Millions of yen

%

Net sales

978,340

20.6

811,332

24.0

Operating profit

115,340

21.1

95,208

362.6

Profit before tax

117,595

21.1

97,133

490.3

Profit for the period

95,180

20.6

78,913

495.0

Profit for the period attributable to owners of the parent

71,202

11.5

63,843

458.0

Total comprehensive income for the period

278,638

77.0

157,425

-

Basic earnings per share (yen)

321.26

288.33

Diluted earnings per share (yen)

320.31

287.20

(2) Consolidated financial position

FY2022 second quarter

FY2021

(as of June 30, 2022)

(as of December 31, 2021)

Total assets (millions of yen)

2,990,250

2,666,031

Total equity(millions of yen)

1,716,900

1,481,380

Equity attributable to owners of the parent

1,514,396

1,314,161

(millions of yen)

Equity attributable to owners of the parent ratio (%)

50.6

49.3

2. Dividends

(Unit: yen)

FY2021

FY2022

FY2022 (forecast)

End of first quarter

-

-

――――

End of second quarter

80.00

105.00

――――

End of third quarter

-

――――

-

End of fiscal year

130.00

――――

105.00

Total

210.00

――――

210.00

Note: Revision of the dividends forecast from the latest official forecast: No

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

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

Full year

Millions of yen

%

Net sales

2,050,000

20.8

Operating profit

230,000

11.6

Profit before tax

217,000

3.3

Profit for the period

157,000

(1.3)

Profit for the period attributable to

120,000

(3.1)

owners of the parent

Basic earnings per share (yen)

541.44

Note: Revision of the forecast for FY2022 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 10.

(3) Number of shares issued (common stock)

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

-FY2022 second quarter (as of June 30, 2022):

227,441,381

-FY2021 (as of December 31, 2021):

227,441,381

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

-FY2022 second quarter (as of June 30, 2022):

5,415,675

-FY2021 (as of December 31, 2021):

5,517,627

  1. Average number of shares issued during the period

-For the six months ended June 30, 2022:

221,632,321

-For the six months ended June 30, 2021:

221,421,047

*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, FY2022) will be published on TD-net for viewing in Japan, and on our Website.

(Attached Documents)

INDEX

1. Condensed Interim Consolidated Financial Statements (IFRS) and major notes

2

(1)

Condensed Interim Consolidated Statements of Financial Position

2

(2)

Condensed Interim Consolidated Statements of Profit or Loss and Consolidated Statements of

3

Comprehensive Income

(Condensed Interim Consolidated Statements of Profit or Loss)

3

(Condensed Interim Consolidated Statements of Comprehensive Income)

4

(3)

Condensed Interim Consolidated Statements of Changes in Equity

5

(4)

Condensed Interim Consolidated Statements of Cash Flows

9

(5)Notes to the Condensed Interim Consolidated Financial Statements

10

(Notes regarding assumption of a going concern)

10

(Changes in Accounting Policies)

10

(Changes in Accounting Estimates)

10

(Segment Information)

11

(Notes to Other Income and Other Expenses)

13

(Notes on Significant Subsequent Events)

13

- 1 -

1. Condensed Interim Consolidated Financial Statements (IFRS)

(1) Condensed Interim Consolidated Statements of Financial Position

(Unit: millions of yen)

FY2021

FY2022 second quarter

(as of December 31, 2021)

(as of June 30, 2022)

Assets

Current assets

Cash and cash equivalents

195,830

255,542

Trade receivables

295,161

319,512

Inventories

330,101

418,689

Other receivables

65,472

58,339

Income tax receivables

3,518

3,197

Other current assets

25,186

49,247

Total current assets

915,271

1,104,529

Non-current assets

Property, plant and equipment

1,323,868

1,457,741

Goodwill

112,916

122,964

Intangible assets

69,913

79,519

Investments accounted for using equity method

31,197

27,008

Other financial assets

116,624

109,331

Deferred tax assets

27,611

29,005

Other non-current assets

68,628

60,150

Total non-current assets

1,750,759

1,885,720

Total assets

2,666,031

2,990,250

Liabilities and equity

Liabilities

Current liabilities

Trade payables

196,435

215,939

Short-terminterest-bearing debt

36,820

51,685

Long-terminterest-bearing debt due within one year

88,599

141,703

Other payables

199,169

216,126

Income tax payables

42,411

27,045

Provisions

1,207

1,537

Other current liabilities

34,764

47,531

Total current liabilities

599,408

701,570

Non-current liabilities

Long-terminterest-bearing debt

477,774

466,953

Deferred tax liabilities

35,814

31,099

Post-employment benefit liabilities

53,805

50,325

Provisions

12,064

15,790

Other non-current liabilities

5,782

7,611

Total non-current liabilities

585,241

571,779

Total liabilities

1,184,650

1,273,350

Equity

Share capital

90,873

90,873

Capital surplus

81,621

79,842

Retained earnings

927,830

978,369

Treasury shares

(26,933)

(26,732)

Other components of equity

240,769

392,042

Total equity attributable to owners of the parent

1,314,161

1,514,396

Non-controlling interests

167,219

202,504

Total equity

1,481,380

1,716,900

Total liabilities and equity

2,666,031

2,990,250

- 2 -

  1. Condensed Interim Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income
    (Condensed Interim Consolidated Statements of Profit or Loss)

(Unit: millions of yen)

For the six months

For the six months

ended June 30, 2021

ended June 30, 2022

(Jan. 1 through June. 30, 2021)

(Jan. 1 through June. 30, 2022)

Net sales

811,332

978,340

Cost of sales

(565,815)

(698,488)

Gross profit

245,517

279,852

Selling, general and administrative expenses

(151,771)

(165,809)

Share of profit (loss) of associates and joint ventures

1,462

1,297

accounted for using equity method

Operating profit

95,208

115,340

Other income

9,199

11,385

Other expenses

(7,180)

(10,288)

Business profit

97,227

116,436

Finance income

3,276

4,560

Finance costs

(3,370)

(3,402)

Net finance income (costs)

(94)

1,158

Profit before tax

97,133

117,595

Income tax expenses

(18,219)

(22,415)

Profit for the period

78,913

95,180

Attributable to:

Owners of the parent

63,843

71,202

Non-controlling interests

15,070

23,978

Earnings per share

Basic earnings per share (yen)

288.33

321.26

Diluted earnings per share (yen)

287.20

320.31

- 3 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

AGC - Asahi Glass Co. Ltd. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 06:09:29 UTC.


© Publicnow 2022
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Sales 2022 1 998 B 13 797 M 13 797 M
Net income 2022 126 B 869 M 869 M
Net Debt 2022 459 B 3 168 M 3 168 M
P/E ratio 2022 8,00x
Yield 2022 4,65%
Capitalization 1 006 B 6 948 M 6 948 M
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Nbr of Employees 55 999
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Takuya Shimamura President, CEO & Representative Director
Shinji Miyaji CFO, Representative Director & Executive VP
Yoshinori Hirai Director, CTO & Senior Managing Executive Officer
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