EIZO : Consolidated Financial Results for the Three Months Ended June 30, 2022 (Under Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results

for the Three Months Ended June 30, 2022

(Under Japanese GAAP)

July 29, 2022

Company name:	EIZO Corporation
Stock exchange listing:	Tokyo
Stock code:	6737	URL https://www.eizo.co.jp/
Representative:	President		Yoshitaka Jitsumori
	Director, Operating Officer, and Senior
Inquiries:	Manager, Accounting & Finance, & Investor	Masaki Ebisu	TEL [phone]
	Relations
Scheduled date to file Quarterly Securities Report:	August 5, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)

	(1) Consolidated operating results (cumulative)							Percentages indicate year-on-year changes
				Net sales			Operating profit		Ordinary profit		Profit attributable to
									owners of parent
				Millions of yen		%	Millions of yen	%	Millions of yen			%	Millions of yen	%
	Three months ended June 30, 2022		17,847		(22.9)	877	(78.3)			1,258		(72.5)		1,383	(56.3)
	Three months ended June 30, 2021		23,151		64.2	4,039	-			4,579		681.9		3,166	711.1
	(Note) Comprehensive income	For the three months ended June 30, 2022: ¥975 million	[ (59.2) %]
			For the three months ended June 30, 2021: ¥2,390 million	[ (39.5) %]
				Earnings per share		Diluted earnings per share
							Yen				Yen
	Three months ended June 30, 2022				65.11				-
	Three months ended June 30, 2021				148.54				-
	(2) Consolidated financial position
				Total assets		Net assets			Equity ratio			Net assets per share
				Millions of yen		Millions of yen						%				Yen
	As of June 30, 2022			154,232	117,359					76.1		5,569.97
	As of March 31, 2022			155,459	118,582					76.3		5,562.01
	(Reference) Equity	As of June 30, 2022:	¥117,359 million
		As of March 31, 2022: ¥118,582 million
2. Cash dividends
									Annual dividends per share
				1st quarter-end		2nd quarter-end	3rd quarter-end	Fiscal year-end		Total
				Yen		Yen			Yen				Yen			Yen
	Year ended March 31, 2022				-	60.00			-				60.00			120.00
	Year ending March 31, 2023				-
	Year ending March 31, 2023 (Forecast)					60.00			-				65.00			125.00

(Note) Revisions to the forecast of cash dividends most recently announced: None

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3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit		Profit attributable to	Earnings per share
			owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	86,000	(0.9)	8,000	(29.2)	9,000	(25.7)			6,300	(19.2)	295.50
(Note) Revisions to the forecasts of consolidated financial results most recently announced: None
*Notes
(1) Changes in significant subsidiaries during the three months ended June 30, 2022				No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) Application of special accounting methods for preparing quarterly consolidated financial statements:	No
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:		No
Changes in accounting policies due to other reasons:						No
Changes in accounting estimates:								No
Restatement of prior period financial statements:						No

(4) Number of issued shares (common shares)

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

	As of June 30, 2022	21,981,160	shares	As of March 31, 2022	22,731,160	shares
Number of treasury shares at the end of the period
	As of June 30, 2022	911,038	shares	As of March 31, 2022	1,411,088	shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2022

21,252,184 shares

Three months ended June 30, 2021

21,320,197 shares

*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.

*Proper use of earnings forecasts, and other special matters (Notice concerning forward-looking statements)

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. As such, they do not constitute the Company's guarantee that such results would be achieved. Actual business and other results may differ substantially due to various factors.

(Explanatory material for financial results)

Explanatory material for financial results is disclosed through TDnet as well as posted on the Company's website on July 29, 2022.

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits		13,887	14,414
Notes and accounts receivable - trade, and contract	23,035	17,386
assets
Electronically recorded monetary	claims -	1,778	1,594
operating
Securities		8,799	8,299
Merchandise and finished goods		10,038	12,144
Work in process		1,730	2,097
Raw materials and supplies		19,980	23,638
Other		1,362	2,113
Allowance for doubtful accounts		(102)	(99)
Total current assets		80,510	81,589
Non-current assets
Property, plant and equipment		20,173	20,453
Intangible assets		841	835
Investments and other assets
Investment securities		52,824	50,298
Other		1,108	1,054
Total investments and other assets		53,933	51,353
Total non-current assets		74,948	72,642
Total assets		155,459	154,232
Liabilities
Current liabilities
Accounts payable - trade		7,522	9,186
Short-term borrowings		2,050	2,140
Income taxes payable		2,398	127
Provision for bonuses		1,696	731
Provision for product warranties		2,177	2,196
Other		4,880	6,791
Total current liabilities		20,726	21,174
Non-current liabilities
Long-term borrowings		1,025	1,034
Provision for retirement benefits for directors (and	71	71
other officers)
Provision for recycling		634	622
Retirement benefit liability		3,014	2,986
Other		11,404	10,982
Total non-current liabilities		16,150	15,697
Total liabilities		36,876	36,872

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						(Millions of yen)
					As of March 31, 2022	As of June 30, 2022
Net assets
Shareholders' equity
Share capital					4,425	4,425
Capital surplus				4,313	4,313
Retained earnings				82,039	80,661
Treasury shares				(2,664)	(2,100)
Total shareholders' equity				88,114	87,300
Accumulated other comprehensive income
Valuation	difference	on	available-for-sale	28,801	27,175
securities
Foreign currency translation adjustment	1,440	2,700
Remeasurements of defined benefit plans	226	183
Total accumulated other comprehensive income	30,467	30,059
Total net assets					118,582	117,359
Total liabilities and net assets				155,459	154,232

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2021	June 30, 2022
Net sales	23,151	17,847
Cost of sales	14,261	12,141
Gross profit	8,890	5,706
Selling, general and administrative expenses	4,850	4,828
Operating profit	4,039	877
Non-operating income
Interest income	1	3
Dividend income	474	522
Foreign exchange gains	41	-
Other	31	26
Total non-operating income	548	552
Non-operating expenses
Interest expenses	5	6
Foreign exchange losses	-	164
Other	2	0
Total non-operating expenses	7	171
Ordinary profit	4,579	1,258
Extraordinary income
Gain on sale of investment securities	-	835
Total extraordinary income	-	835
Extraordinary losses
Loss on sale of investment securities	-	5
Total extraordinary losses	-	5
Profit before income taxes	4,579	2,088
Income taxes - current	1,276	299
Income taxes - deferred	136	405
Total income taxes	1,412	704
Profit	3,166	1,383
Profit attributable to owners of parent		3,166	1,383

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