Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Three Months Ended June 30, 2021

[Japanese GAAP]

August 05, 2021

Company name:

Daido Metal Co., Ltd.

Stock exchange listing: Tokyo, Nagoya

Code number:

7245

URL:

http://www.daidometal.com/

Representative:

Seigo Hanji

Chairman and Chief Executive Officer

Contact:

Hiroki Iwakura

Executive Officer and Head of Corporate Planning Division

Phone:

+81-52-205-1400

Scheduled filing date of quarterly securities report:

August 05, 2021

Scheduled start date of dividend payments:

-

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session:

No

(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the Three Months Ended June 30, 2021 (April 01, 2021 to June 30, 2021)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

June 30, 2021

24,995

32.5

1,399

1,403

726

June 30, 2020

18,870

(25.9)

(1,054)

(1,403)

(1,151)

(Note) Comprehensive income:

Three months ended June 30, 2021:

Three months ended June 30, 2020:

¥

1,997 million

[

%]

¥

(2,664) million

[

%]

Basic earnings

Diluted earnings per

per share

share

Three months ended

Yen

Yen

June 30, 2021

15.61

June 30, 2020

(24.93)

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

As of

Million yen

Million yen

%

June 30, 2021

158,192

65,729

36.4

March 31, 2021

155,176

64,538

36.3

(Reference) Net assets less non-controlling interests:

As of June 30, 2021:

¥

57,519

million

As of March 31, 2021:

¥

56,388

million

―1―

2. Dividends

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2021

10.00

10.00

20.00

Fiscal year ending March 31, 2022

Fiscal year ending March 31, 2022

10.00

15.00

25.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently:

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

Profit attributable

Basic earnings

Net sales

Operating profit

Ordinary profit

to owners of

per share

parent

Six months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

50,000

37.6

2,200

2,100

850

18.27

September 30, 2021

Full year

92,000

8.6

3,500

166.0

3,200

266.1

1,700

36.55

(Note) Revision to the financial results forecast announced most recently:

Yes

* Notes:

(1) Changes in significant subsidiaries during the three months ended June 30, 2021

(changes in specified subsidiaries resulting in changes in scope of consolidation):

No

New

-

(Company name:

)

Exclusion:

-

(Company name:

)

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

No

  1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: Yes

2)

Changes in accounting policies other than 1) above:

No

3)

Changes in accounting estimates:

No

4)

Retrospective restatement:

No

For details, please refer to page 10, "(4) Notes to Quarterly Consolidated Financial Statements, Changes in accounting policy".

(4) Total number of issued shares (common shares)

1)

Total number of issued shares at the end of the period (including treasury shares):

June 30, 2021:

47,520,253

shares

March 31, 2021:

47,520,253

shares

2)

Total number of treasury shares at the end of the period:

June 30, 2021:

992,441

shares

March 31, 2021:

1,036,793

shares

3) Average number of shares during the period:

Three months ended June 30, 2021:

46,500,200

shares

Three months ended June 30, 2020:

46,188,532

shares

(Note)The Company introduced an E-Ship®Trust-Type Employee Stock Purchase Incentive Plan and a performance-linked stock- based remuneration for Directors and Executive Officers. For the calculation of total number of treasury shares at the end of the period and average number of shares during the period, Company shares held in the trusts are included in treasury shares to be deducted.

―2―

  • Numbers in parentheses denote negative numbers.
  • This financial result is not required to be reviewed by certificated public accountants or audit firm.
  • Explanation of appropriate use of earnings projections, other explanatory notes

Future prospects are prepared as information purpose only, based on the information available to us at this moment, and are under certain condition which we assumed reasonable. We will not guarantee the realization of such prospects and actual performance fluctuates due to various factors.

―3―

1. Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheets

(Million yen)

As of March 31,2021

As of June 30,2021

Assets

Current assets

Cash and deposits

22,007

22,347

Notes and accounts receivable - trade

23,069

23,933

Electronically recorded monetary claims -

2,393

2,581

operating

Merchandise and finished goods

10,821

11,625

Work in process

8,380

8,628

Raw materials and supplies

6,326

7,121

Other

2,510

2,319

Allowance for doubtful accounts

(267)

(194)

Total current assets

75,242

78,363

Non-current assets

Property, plant and equipment

Buildings and structures, net

17,198

17,133

Machinery, equipment and vehicles, net

24,497

24,188

Other, net

16,234

16,678

Total property, plant and equipment

57,931

58,001

Intangible assets

Goodwill

5,724

5,440

Other

6,898

6,734

Total intangible assets

12,623

12,175

Investments and other assets

Investments and other assets

9,431

9,705

Allowance for doubtful accounts

(52)

(52)

Total investments and other assets

9,379

9,652

Total non-current assets

79,934

79,828

Total assets

155,176

158,192

―4―

(Million yen)

As of March 31,2021

As of June 30,2021

Liabilities

Current liabilities

Notes and accounts payable - trade

6,192

7,171

Electronically recorded obligations - operating

8,069

9,557

Short-term borrowings

26,575

23,016

Current portion of long-term borrowings

7,604

8,223

Income taxes payable

415

785

Provision for bonuses

1,269

745

Provision for bonuses for directors (and other

21

officers)

Provision for product compensation

70

87

Provision for environmental measures

33

33

Electronically recorded obligations - non-

501

538

operating

Other

6,719

8,566

Total current liabilities

57,452

58,747

Non-current liabilities

Long-term borrowings

21,315

22,000

Provision for share-based remuneration

16

24

Provision for share-based remuneration for

30

22

directors (and other officers)

Provision for loss on guarantees

145

134

Retirement benefit liability

7,207

7,393

Asset retirement obligations

17

17

Other

4,453

4,122

Total non-current liabilities

33,185

33,715

Total liabilities

90,637

92,463

Net assets

Shareholders' equity

Share capital

8,413

8,413

Capital surplus

13,114

13,114

Retained earnings

36,609

36,871

Treasury shares

(780)

(747)

Total shareholders' equity

57,356

57,651

Accumulated other comprehensive income

Valuation difference on available-for-sale

995

997

securities

Foreign currency translation adjustment

(1,170)

(398)

Remeasurements of defined benefit plans

(793)

(730)

Total accumulated other comprehensive income

(968)

(131)

Non-controlling interests

8,150

8,209

Total net assets

64,538

65,729

Total liabilities and net assets

155,176

158,192

―5―

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Daido Metal Co. Ltd. published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 05:05:09 UTC.