Fujimi Incorporated : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2021 (Based on 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.

																												August 3, 2021
Company Name:	FUJIMI INCORPORATED
Stock Exchange Listing: Tokyo, Nagoya
Stock Code:	5384	URL	https://www.fujimiinc.co.jp/
Representative:	President and CEO									Keishi Seki
Inquiries:		Deputy Senior General Manager					Toshihiro Kawashima			TEL [phone]
	Finance Division
Scheduled date to file Quarterly Securities Report:							August 6, 2021
Scheduled Date to Commence Dividend Payments:					-
Preparation of supplementary material on quarterly financial results:	No
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, 2021 (from April 1, 2021 to June 30, 2021)
(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, 2021				12,387		18.7			2,999		32.0			3,132	37.2		2,300	39.3
Three months ended June 30, 2020				10,435		15.4			2,272		69.2			2,283	62.7		1,651	67.4
				Earnings per Share		Diluted Earnings per
													Share
								Yen						Yen
Three months ended June 30, 2021						93.05						-
Three months ended June 30, 2020						66.82						-
(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, 2021								66,198								56,853						85.9		2,299.80
As of March 31, 2021								65,773								56,088						85.3		2,268.87
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, 2021				-			50.00				-	65.00			115.00
Year ended March 31, 2022				-
Year ending March 31, 2022								80.00				-				65.00			145.00
(Forecast)
3. Forecast of Consolidated Financial Results for the Year Ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
																							Percentages indicate year-on-year changes
		Net Sales			Operating Profit			Ordinary Profit		Profit Attributable to	Earnings per Share
							Owners of Parent
Six months ending		Millions of yen	%		Millions of yen		% Millions of yen		% Millions of yen	%		Yen
24,500		19.9				5,500	47.9					5,600		51.6			4,200		47.1		169.90
September 30, 2021
Full Year		47,000		12.0				10,200	33.5					10,350		34.2			7,400		32.0		299.34

4. Notes

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

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:	Yes
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, 2021	28,699,500	shares	As of March 31, 2021	28,699,500	shares
Number of treasury shares at the end of the period
	As of June 30, 2021	3,978,553	shares	As of March 31, 2021	3,978,451	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2021	24,721,021	shares	Three months ended June 30, 2020	24,720,389	shares

FUJIMI INCORPORATED

FY2022 First Quarter Financial Results

(Supplementary Materials)

Table of Contents

Contents	Page
1.	Overview of Business Results and Financial Position…………………………………………………...	2
	(1)	Overview of Business Results………………………………………..……………………………….	2
	(2)	Overview of Financial Position………………………………………………..…………………..…	3
	(3) Financial Forecast……….………………...………………………………………………………….	3
2.	Consolidated Financial Statements………………………………………...….…………………….…...	4
	(1)	Consolidated Balance Sheets……………………………………………………………….………...	4
	(2)	Consolidated Statements of Income and Consolidated Statements of Comprehensive Income…	6

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FUJIMI INCORPORATED

FY2022 First Quarter Financial Results

1. Overview of Business Results and Financial Position

1. Overview of Business Results

In the first three months of FY2022 (April 2021 - March 2022), global economic uncertainty increased due to concerns about the spread of the novel coronavirus (COVID-19) variant and further geopolitical concerns from the continuous tensions between the US and China, while the economic activities are seemed to be moving towards normalization in areas where vaccine rollout is progressing for COVID-19. However, the global semiconductor market showed firm demand for advanced semiconductor devices that support the advancement of information and communication due to lifestyle changes after the spread of COVID-19, as well as recovering demand of conventional semiconductor devices for automobiles and so forth.

The consolidated results for this period are shown below.
Consolidated Results for the First Three Months of Fiscal Year 2021:		Millions of JPY
	FY ended	FY ended	Change
	June 30, 2020	June 30, 2021	YoY
Net Sales	10,435	12,387	18.7%
Operating Profit	2,272	2,999	32.0%
Ordinary Profit	2,283	3,132	37.2%
Profit Attributable to Owners of Parent	1,651	2,300	39.3%

Segment Operating Results by Region

(i) Japan

Net sales in Japan increased by 26.4% to JPY 7,580 million compared with the same term in the previous fiscal year. The increase was mainly due to firm demand for products related to semiconductor devices and silicon wafers. Operating profit increased by 39.7% to JPY 2,742 million. The increase was mainly due to sales increase and a favorable product mix.

(ii) North America

Net sales in North America increased by 8.5% to JPY 1,636 million compared with the same term of the previous fiscal year. The increase was mainly due to firm demand for products related to semiconductor devices and silicon wafers. Operating profit increased by 25.2% to JPY 212 million. The increase was mainly due to a favorable product mix.

(iii) Asia

Net sales in Asia increased by 7.1% to JPY 2,723 million compared with the same term in the previous fiscal year. Operating profit increased by 9.1% to JPY 619 million. The increases were mainly due to firm demand for CMP products related to both advanced logic devices and advanced memory devices.

(iv) Europe

Net sales in Europe increased by 15.3% to JPY 447 million compared with the same term in the previous fiscal year. The increase was mainly due to firm demand for products related to semiconductor devices. Operating profit decreased by 10.9% to JPY 47 million. The decrease was mainly due to a product mix change and foreign currency fluctuations.

Segment Operating Results by Application

(i) Silicon Wafers

Regarding products for silicon wafers, net sales of lapping abrasive products increased by 22.3% to JPY 1,442 million compared with the same term in the previous fiscal year and net sales of polishing slurry products increased by 28.3% to JPY 2,931 million. The increases in net sales of both product lines were mainly due to high production levels in the semiconductor industry.

(ii) Semiconductor Devices

Regarding products for the CMP process of semiconductor devices, net sales increased by 18.9% to JPY 5,963 million compared with the same term in the previous fiscal year. The increase in net sales was mainly due to continuous firm demand from logic devices, recovery of demand from memory devices and a

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FUJIMI INCORPORATED

FY2022 First Quarter Financial Results

customer's inventory increase.

(iii) Hard Disks

Regarding products for hard disks, net sales decreased by 18.5% to JPY 392 million compared with the same term in the previous fiscal year. The decrease in net sales was mainly due to market shrinkage caused by replacement with Solid State Drives (SSDs) and customers' operating status changes.

(iv) General Industries

Regarding products for general industries, net sales increased by 20.4% to JPY 1,083 million compared with the same term in the previous fiscal year. The increase in net sales was mainly due to recovery of demand of products for automobiles and industrial machineries.

1. Overview of Financial Position

Summary of Total Assets, Total Liabilities and Net Assets as of June 30, 2022

Total assets increased by JPY 424 million to JPY 66,198 million compared with the end of the previous fiscal year mainly due to increases of JPY 1,000 million in notes and accounts receivable - trade and of JPY 900 million in securities, offsetting decreases of JPY 930 million in cash and deposits and of JPY 534 million in investment securities.

Total liabilities decreased by JPY 339 million to JPY 9,345 million compared with the end of the previous fiscal year mainly due to a decrease of JPY 736 million in provision for bonuses, offsetting an increase of JPY 391 million in accounts payable - trade.

Net assets increased by JPY764 million to JPY 56,853 million compared with the end of the previous fiscal year mainly due to increases of JPY 673 million in retained earnings.

(3) Financial Forecast

The financial forecast for the current fiscal year is shown below.
Financial Forecast for the First Six Months of Fiscal Year 2022:	Millions of JPY
	The first six months	Change from the same
	of FY2022 ending
	term in FY2021
	June 30, 2021
Net Sales	24,500	16.7%
Operating Profit	5,500	44.7%
Ordinary Profit	5,600	45.5%
Profit Attributable to Owners of Parent	4,200	40.0%
Financial Forecast for Fiscal Year 2022:		Millions of JPY
	FY ending	Change from FY2021
	March 31, 2022
Net Sales	47,000	8.0%
Operating Profit	10,200	20.0%
Ordinary Profit	10,350	20.3%
Profit Attributable to Owners of Parent	7,400	19.4%

The financial forecast and other forward-looking statements are based on information available to the management at the present time and on certain assumptions judged by the management to be reasonable. Due to various factors, actual performance and financial results in future periods may differ materially from the forecast.

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