Asahi Diamond Industrial : Summary of the Consolidated Financial Results for the Fiscal Year Ended March 31, 2021〔under Japanese GAAP〕

May 14,2021

Summary of the Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021〔under Japanese GAAP〕

① Financial Statements

1) Consolidated Balance Sheets

			Millions of yen
	FISCAL YEAR
	2020/3		2021/3
Cash and deposits		14,038	10,649
Notes and accounts receivable-trade		9,325	9,148
Securities		3,050	―
Merchandise and finished goods		2,819	2,699
Work in process		1,039	1,456
Raw materials and supplies		2,119	2,143
Other		442	1,122
Allowance for doubtful accounts		△ 73	△ 57
Current assets		32,762	27,161
Buildings and structures		21,230	27,777
Accumulated depreciation		△ 14,447	△ 15,009
Buildings and structures, net
	6,783	12,767
Machinery, equipment and vehicles
	29,970	30,552
Accumulated depreciation		△ 23,770	△ 24,518
Machinery, equipment and vehicles, net
	6,199	6,034
Land
	6,685	6,684
Construction in progress		3,066	163
Other		6,518	6,681
Accumulated depreciation		△ 5,608	△ 5,797
Other, net
	910	884
Property, plant and equipment		23,644	26,535
Intangible assets		195	228
Investment securities		10,301	11,581
Deferred tax assets		2,431	2,018
Other		1,174	1,125
Allowance for doubtful accounts		△ 503	△ 505
Investments and other assets		13,405	14,219
Non-current assets		37,245	40,982
Assets		70,007	68,144

※Note

・ Numbers with "△" indicate negative numbers.

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			Millions of yen
	FISCAL YEAR
	2020/3		2021/3
Notes and accounts payable - trade		1,317	1,293
Short-term loans payable		533	540
Income taxes payable		171	70
Provision for bonuses		586	667
Other		1,870	1,726
Current liabilities		4,479	4,299
Net defined benefit liability		7,527	5,375
Deferred tax liabilities for land revaluation		350	350
Asset retirement obligations		135	109
Provision for business structure improvement		441	457
Provision for share-based remuneration		56	93
Other		183	160
Non-current liabilities		8,694	6,547
Liabilities		13,174	10,847
Capital stock		4,102	4,102
Capital surplus		7,129	7,129
Retained earnings		43,323	42,490
Treasury shares		△ 150	△ 150
Shareholders' equity		54,404	53,571
Valuation difference on available-for-sale securities		1,450	2,719
Revaluation reserve for land		196	196
Foreign currency translation adjustment		△ 496	△ 637
Remeasurements of defined benefit plans		△ 41	119
Total accumulated other comprehensive income		1,107	2,398
Non-controlling interests		1,321	1,327
Net assets		56,833	57,297
Liabilities and net assets		70,007	68,144

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1. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income Consolidated Statements of Income

			Millions of yen
	FISCAL YEAR
	2019/4-2020/3		2020/4-2021/3
Net sales		35,304	30,143
Cost of sales		27,086	23,741
Gross profit		8,218	6,401
Selling expenses		4,876	4,470
General and administrative expenses		3,047	2,664
Selling, general and administrative expenses		7,923	7,134
Operating profit（loss)		294	△ 732
Interest income		71	37
Dividend income		162	112
Foreign exchange gains		―	69
Share of profit of entities accounted for using equity method		80	47
Subsidy income		―	88
Miscellaneous income		84	57
Non-operating income		399	414
Interest expenses		9	7
Foreign exchange losses		87	―
Miscellaneous loss		5	11
Non-operating expenses		101	19
Ordinary profit（loss）		591	△ 337
Gain on sales of investment securities		560	214
Reversal of provision for business structure improvement		22	―
Extraordinary income		582	214
Factory relocation expenses		―	258
Impairment loss		639	―
Loss on valuation of investment securities		9	―
Provision for business structure improvement		440	―
Extraordinary losses		1,088	258
Profit（loss）before income taxes		86	△ 381
Income taxes - current		311	131
Income taxes - deferred		62	△ 204
Income taxes		373	△ 73
Loss		△ 287	△ 307
Profit attributable to non-controlling interests		52	23
Loss attributable to owners of parent		△ 340	△ 331

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Consolidated Statements of Comprehensive Income

		Millions of yen
	FISCAL YEAR
	2019/4-2020/3	2020/4-2021/3
Loss	△ 287	△ 307
Other comprehensive income
Valuation difference on available-for-sale securities	△ 1,054	1,269
Foreign currency translation adjustment	35	△ 138
Remeasurements of defined benefit plans	12	157
Share of other comprehensive income of entities accounted for using equity method	△ 203	11
Other comprehensive income	△ 1,209	1,299
Comprehensive income	△ 1,497	992
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent	△ 1,462	1,006
Comprehensive income attributable to non-controlling interests	△ 34	△ 14

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3) Consolidated Statements of Cash Flows

		Millions of yen
	FISCAL YEAR
	2019/4-2020/3	2020/4-2021/3
Cash flows from operating activities
Profit（loss） before income taxes	86	△ 381
Depreciation	2,641	2,847
Impairment loss	639	―
Factory relocation expenses	―	258
Increase (decrease) in allowance for doubtful accounts	△ 79	△ 19
Increase (decrease) in provision for bonuses	△ 124	80
Increase (decrease) in net defined benefit liability	△ 240	△ 1,938
Increase (decrease) in provision for stock benefits	28	36
Increase (decrease) in provision for business restructuring	419	―
Interest and dividend income	△ 234	△ 150
Interest expenses	9	7
Share of (profit) loss of entities accounted for using equity method	△ 80	△ 47
Loss on retirement of property, plant and equipment	3	3
Loss (gain) on sales of property, plant and equipment	△ 2	△ 1
Loss (gain) on sales of investment securities	△ 560	△ 214
Loss (gain) on valuation of investment securities	9	―
Decrease (increase) in notes and accounts receivable - trade	1,906	183
Decrease (increase) in inventories	639	△ 340
Increase (decrease) in notes and accounts payable - trade	△ 230	△ 17
Other, net	△ 5	△ 150
Subtotal	4,825	155
Interest and dividend income received	234	150
Interest expenses paid	△ 9	△ 7
Factory relocation expenses paid	―	△ 258
Income taxes paid	△ 245	△ 130
Net cash provided by (used in) operating activities	4,805	△ 90
Cash flows from investing activities
Proceeds from sales of securities	―	1,804
Purchase of property, plant and equipment	△ 5,568	△ 6,456
Proceeds from sales of property, plant and equipment	12	1
Purchase of investment securities	△ 31	△ 33
Proceeds from sales of investment securities	739	438
Other, net	△ 142	△ 45
Net cash provided by (used in) investing activities	△ 4,990	△ 4,289
Cash flows from financing activities
Net increase (decrease) in short-term loans payable	51	△ 4
Purchase of treasury shares	△ 1	△0
Proceeds from sales of treasury shares	6	0
Cash dividends paid	△ 675	△ 502
Dividends paid to non-controlling interests	△ 34	△ 26
Repayments of lease obligations	△ 79	△ 69
Net cash provided by (used in) financing activities	△ 732	△ 604
Effect of exchange rate change on cash and cash equivalents	54	△ 50
Net increase (decrease) in cash and cash equivalents	△ 863	△ 5,035
Cash and cash equivalents at beginning of period	16,548	15,685
Cash and cash equivalents at end of period	15,685	10,649

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