Bando Chemical Industries : Consolidated Financial Statements For the First Half of Fiscal 2022

CONSOLIDATED FINANCIAL STATEMENTS

These Consolidated Financial Statements were publicly released in the Japanese language on November 9, 2022.

(1) Consolidated Statement of Financial Position

		(Millions of yen)
	As of March 31, 2022	As of September 30, 2022
Assets
Current assets
Cash and cash equivalents	18,837	16,211
Trade and other receivables	22,486	24,220
Inventories	16,232	17,783
Income taxes receivable	50	62
Other financial assets	734	1,001
Other current assets	859	1,036
Total current assets	59,200	60,316
Non-current assets
Property, plant and equipment	32,954	33,123
Goodwill	4,581	4,581
Intangible assets	3,947	3,812
Investments accounted for using equity method	8,511	9,529
Other financial assets	6,109	5,599
Deferred tax assets	755	754
Other non-current assets	320	278
Total non-current assets	57,180	57,680
Total assets	116,381	117,996

			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Liabilities and equity
Liabilities
Current liabilities
Trade and other payables	16,050	16,322
Bonds and borrowings	3,593	4,474
Income taxes payable	1,720	1,110
Other financial liabilities	976	1,006
Provisions	5	3
Other current liabilities	6,174	5,366
Total current liabilities	28,520	28,283
Non-current liabilities
Bonds and borrowings	10,237	7,412
Retirement benefit liability	651	690
Other financial liabilities	1,675	1,511
Deferred tax liabilities	1,085	926
Other non-current liabilities	1,781	1,565
Total non-current liabilities	15,432	12,107
Total liabilities	43,952	40,390
Equity
Share capital	10,951	10,951
Capital surplus	3,075	3,097
Retained earnings	56,480	58,852
Treasury shares	-2,577	-3,026
Other components of equity	4,203	7,361
Total equity attributable to owners of parent	72,133	77,237
Non-controlling interests	295	368
Total equity	72,429	77,605
Liabilities and equity	116,381	117,996

(2) Consolidated Statement of Income

			(Millions of yen)
		Six months ended	Six months ended
		September 30, 2021	September 30, 2022
Revenue	46,144	52,200
Cost of sales	31,450	37,290
Gross profit	14,693	14,910
Selling, general and administrative expenses	10,317	11,261
Other income	248	159
Other expenses	129	97
Share of profit of investments accounted for using equity method	351	660
Operating profit	4,847	4,371
Finance income	289	1,229
Finance costs	59	197
Profit before tax	5,077	5,402
Income tax expense	1,271	1,811
Profit	3,805	3,591
Profit attributable to
Owners of parent	3,798	3,568
Non-controlling interests	7	22
Profit	3,805	3,591
Earnings per share
Basic earnings per share	83.76	80.52
			(Millions of yen)
		2nd quarter ended	2nd quarter ended
		September 30, 2021	September 30, 2022
Revenue	23,127	26,553
Cost of sales	15,821	19,129
Gross profit	7,305	7,423
Selling, general and administrative expenses	5,095	5,642
Other income	148	72
Other expenses	73	47
Share of profit of investments accounted for using equity method	233	409
Operating profit	2,519	2,215
Finance income	109	434
Finance costs	21	101
Profit before tax	2,607	2,548
Income tax expense	739	1,076
Profit	1,868	1,472
Profit attributable to
Owners of parent	1,864	1,458
Non-controlling interests	3	14
Profit	1,868	1,472
Earnings per share
Basic earnings per share	41.24	33.01

(3) Consolidated Statement of Comprehensive Income

	(Millions of yen)
Six months ended	Six months ended
September 30, 2021	September 30, 2022

Profit

Other comprehensive income

Items that will not be reclassified to profit or loss

Net change in fair value of equity instruments designated as measured at fair value through other comprehensive income Share of other comprehensive income of investments accounted for using equity method

Total

Items that may be reclassified to profit or loss

Exchange differences on translation of foreign operations Share of other comprehensive income of investments accounted for using equity method

Total

Total other comprehensive income Comprehensive income

Comprehensive income attributable to

Owners of parent

Non-controlling interests

Comprehensive income

3,805

3,591

595	-279
5	-3
601	-282
-495	2,855
104	681
-391	3,536
210	3,254
4,016	6,845
4,006	6,768
9	76
4,016	6,845
	(Millions of yen)

2nd quarter ended	2nd quarter ended
September 30, 2021	September 30, 2022

Profit

Other comprehensive income

Items that will not be reclassified to profit or loss

Net change in fair value of equity instruments designated as measured at fair value through other comprehensive income Share of other comprehensive income of investments accounted for using equity method

Total

Items that may be reclassified to profit or loss

Exchange differences on translation of foreign operations Share of other comprehensive income of investments accounted for using equity method

Total

Total other comprehensive income Comprehensive income

Comprehensive income attributable to

Owners of parent

Non-controlling interests

Comprehensive income

1,868

1,472

555	-192
-0	1
554	-190
-370	248
82	135
-287	384
267	193
2,135	1,666
2,129	1,631
6	34
2,135	1,666

(4) Consolidated Statement of Change in Equity

(Millions of yen)

			Equity attributable to owners of parent
								Non-
							Total equity
						Other	controlling	Total
		Share	Capital	Retained	Treasury	attributable
		components	interests
		capital	surplus	earnings	shares	to owners of
		of equity
						parent
Balance at beginning of period	10,951	3,075	55,857	-1,622	2,230	70,491	271	70,763
Profit				3,798			3,798	7	3,805
Other comprehensive income						207	207	2	210
Comprehensive income		－	－	3,798	－	207	4,006	9	4,016
Dividends of surplus				-912			-912	-7	-920
Purchase of treasury shares					-464		-464		-464
Disposal of treasury shares							－		－
Share-based remuneration			18				18		18
transactions
Transfer from other components				14		-14	－		－
of equity to retained earnings
Total		－	18	-898	-464	-14	-1,359	-7	-1,366
Balance at end of period	10,951	3,093	58,757	-2,086	2,423	73,139	273	73,412
								(Millions of yen)
			Equity attributable to owners of parent
								Non-
							Total equity
						Other	controlling	Total
			Capital	Retained	Treasury	attributable
	Share capital	components	interests
	surplus	earnings	shares	to owners of
			of equity
						parent
Balance at beginning of period	10,951	3,075	56,480	-2,577	4,203	72,133	295	72,429
Effect of hyperinflation				-170			-170		-170
Restated equity	10,951	3,075	56,310	-2,577	4,203	71,963	295	72,258
Profit				3,568			3,568	22	3,591
Other comprehensive income						3,200	3,200	53	3,254
Comprehensive income		－	－	3,568	－	3,200	6,768	76	6,845
Dividends of surplus				-1,068			-1,068	-3	-1,071
Purchase of treasury shares					-448		-448		-448
Share-based remuneration			22				22		22
transactions
Transfer from other components				41		-41	－		－
of equity to retained earnings
Total		－	22	-1,026	-448	-41	-1,494	-3	-1,497
Balance at end of period	10,951	3,097	58,852	-3,026	7,361	77,237	368	77,605