AGC : Consolidated Financial Results for the Three Months ended March 31, 2021(PDF 167KB)

May 7, 2021 Corporate Name: AGC Inc.

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

President & CEO: Yoshinori Hirai

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

Consolidated Financial Results for the Three Months ended March 31, 2021 (IFRS basis)

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

1. Financial Results for the Three months ended March 31, 2021 (January 1 through March 31, 2021)

(1) Consolidated operating results

	For the Three months ended	For the Three months ended
	March 31, 2021		March 31, 2020
	Millions of yen	%	Millions of yen		%
Net sales	393,565		10.1	357,504		(1.1)
Operating profit	44,223		98.0	22,334		7.0
Profit before tax	44,152		176.9	15,943		(32.1)
Profit for the period	34,891		161.6	13,340		(25.9)
Profit for the period attributable to owners of the parent	28,804		112.8	13,534		(13.4)
Total comprehensive income for the period	98,613		-	(76,746)		-
Basic earnings per share (yen)	130.12			61.17
Diluted earnings per share (yen)	129.61			60.91

(2) Consolidated financial position

	FY2021 first quarter	FY2020
	(as of March 31, 2021)	(as of December 31, 2020)
Total assets (millions of yen)	2,656,138	2,534,458
Total equity (millions of yen)	1,326,548	1,243,039
Equity attributable to owners of the parent	1,189,674	1,115,142
(millions of yen)
Equity attributable to owners of the parent ratio (%)	44.8	44.0

2. Dividends				(Unit: yen)
	FY2020		FY2021		FY2021 (forecast)
End of first quarter	-		-	-
End of second quarter	60.00	――――		70.00
End of third quarter	-	――――		-
End of fiscal year	60.00	――――		70.00
Total	120.00	――――		140.00

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

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

	First half		Full year
	Millions of yen	%	Millions of yen	%
Net sales	800,000	22.2	1,650,000	16.8
Operating profit	85,000	313.0	160,000	111.1
Profit before tax	-	-	142,000	148.6
Profit for the year	-	-	105,000	155.1
Profit for the year attributable to owners of the parent	-	-	83,000	153.7
Basic earnings per share (yen)
-		375.02

Note: Revision of the forecast for FY2021 consolidated operating results from the latest official forecast: No The forecast for the six months ending June 30, 2021 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: 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 first quarter (as of March 31, 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 first quarter (as of March 31, 2021):	5,773,528
-FY2020 (as of December 31, 2020):	5,813,165

1. Average number of shares issued during the period

-For the three months ended March 31, 2021:	221,365,760
-For the three months ended March 31, 2020:	221,269,659

*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 Materials for the Quarterly Financial ResultsSupplementary materials are available 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 first quarter
		(as of December 31, 2020)	(as of March 31, 2021)
Assets
	Current assets
	Cash and cash equivalents	236,124	269,414
	Trade receivables	266,177	266,222
	Inventories	274,835	286,501
	Other receivables	62,468	59,452
	Income tax receivables	5,169	5,491
	Other current assets	16,186	18,278
	Total current assets	860,962	905,360
	Non-current assets
	Property, plant and equipment	1,246,885	1,297,894
	Goodwill	118,063	121,799
	Intangible assets	72,660	75,021
	Investments accounted for using equity method	32,014	36,469
	Other financial assets	130,919	138,596
	Deferred tax assets	25,944	26,384
	Other non-current assets	47,008	54,612
	Total non-current assets	1,673,495	1,750,778
Total assets	2,534,458	2,656,138

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			(Unit: millions of yen)
		FY2020	FY2021 first quarter
		(as of December 31, 2020)	(as of March 31, 2021)
Liabilities and equity
Liabilities
	Current liabilities
	Trade payables	151,874	155,539
	Short-terminterest-bearing debt	106,884	115,058
	Long-terminterest-bearing debt due within one year	87,163	94,696
	Other payables	186,310	196,368
	Income tax payables	12,426	14,095
	Provisions	1,563	1,490
	Other current liabilities	17,676	15,083
	Total current liabilities	563,898	592,332
	Non-current liabilities
	Long-terminterest-bearing debt	593,912	594,945
	Deferred tax liabilities	35,153	40,866
	Post-employment benefit liabilities	64,736	67,186
	Provisions	12,353	11,432
	Other non-current liabilities	21,363	22,826
	Total non-current liabilities	727,519	737,257
	Total liabilities	1,291,418	1,329,590
Equity
	Share capital	90,873	90,873
	Capital surplus	83,501	83,728
	Retained earnings	818,701	836,792
	Treasury shares	(28,170)	(27,541)
	Other components of equity	150,236	205,821
	Total equity attributable to owners of the parent	1,115,142	1,189,674
	Non-controlling interests	127,897	136,873
	Total equity	1,243,039	1,326,548
Total liabilities and equity	2,534,458	2,656,138

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