GS Yuasa : Annual Securities Report for the Fiscal Year Ended March 31, 2022 (603KB)

Consolidated Financial Statements

GS Yuasa Corporation

Year Ended March 31, 2022

Financial information

1. Preparation of consolidated financial statements
   The accompanying consolidated financial statements of GS Yuasa Corporation (the "Company") have been prepared in accordance with the provisions set forth in the Japanese Financial Instruments and Exchange Act and its related accounting regulations and in accordance with accounting principles generally accepted in Japan ("Japanese GAAP"), which are different in certain respects as to the application and disclosure requirements from International Financial Reporting Standards.
   The Company's consolidated financial statements are prepared in line with "Regulation on Terminology, Forms, and Preparation Methods of Consolidated Financial Statements" (Ministry of Finance Order No. 28 of 1976).
2. Note on independent audit
   As stipulated in Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act, the Company received an audit of its consolidated financial statements for the fiscal year ended March 31, 2022 (April 1, 2021-March 31, 2022) by KPMG AZSA LLC.
3. Special efforts to ensure fair presentation of consolidated financial statements, etc.
   The Company has taken remarkable efforts to ensure the fair presentation of its consolidated financial statements, etc. Concrete efforts include joining the Financial Accounting Standards Foundation and participating in seminars in order to properly ascertain the details of accounting standards and other items and create a system that makes it possible to appropriately respond to changes in accounting standards and other items.

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1. Consolidated Financial Statements and Other Information

1. Consolidated Financial Statements

1. Consolidated Balance Sheets

(Millions of yen)	(Thousands of U.S. dollars)
As of	As of	As of
March 31, 2022	March 31, 2021	March 31, 2022
Amount	Amount	Amount

Assets

Current assets

Cash and deposits

Notes and accounts receivable - trade

Notes and accounts receivable - trade, and contract assets

Electronically recorded monetary claims - operating

Merchandise and finished goods Work in process

Raw materials and supplies Other

Allowance for doubtful accounts

Total current assets

Non-current assets

Property, plant and equipment Buildings and structures, net Machinery, equipment and vehicles, net Land

Leased assets, net Right-of-use assets, net Construction in progress Other, net

Total property, plant and equipment

Intangible assets

Goodwill

Leased assets

Other

Total intangible assets

Investments and other assets

Investment securities

Investments in capital

Long-term loans receivable

Retirement benefit asset

Deferred tax assets

Lease receivables

Other

Allowance for doubtful accounts

*4	25,855	*4	36,280	*4	211,251
	-	*4	74,269		-
*2, *4	85,399		-	*2, *4	697,761
	7,163		5,039		58,526
*4	54,986	*4	37,236	*4	449,269
*4	19,236	*4	14,973	*4	157,170
*4	18,828	*4	15,658	*4	153,836
	15,249		11,189		124,594
	(418)		(315)		(3,415)
	226,300		194,332		1,849,007
*4, *9	56,279	*4, *9	52,837	*4, *9	459,833
*4, *9	37,108	*4, *9	38,703	*4, *9	303,195
*8	23,335	*4, *8	22,737	*8	190,661
	284		296		2,320
	5,398		5,075		44,105
*9	15,315	*9	9,699	*9	125,133
	5,284	*4, *9	5,180		43,173
*1	143,007	*1	134,530	*1	1,168,453
	-		659		-
	825		1,078		6,741
*4	2,069		2,681	*4	16,905
	2,894		4,419		23,646
*5	66,319	*5	64,349	*5	541,866
*5	940	*5	1,657	*5	7,680
	1,116		707		9,118
	32,954		23,920		269,254
	2,338		3,497		19,103
	2,635		2,616		21,530
	2,538		2,152		20,737
	(322)		(323)		(2,631)

Total investments and other assets	108,520	98,578	886,674
Total non-current assets	254,423	237,528	2,078,789
Deferred assets
Bond issuance costs	39	52	319

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Total deferred assets

Total assets

As of	As of	As of
March 31, 2022	March 31, 2021	March 31, 2022
Amount	Amount	Amount
39	52	319
480,763	431,913	3,928,123
(Millions of yen)	(Thousands of U.S. dollars)

As of	As of	As of
March 31, 2022	March 31, 2021	March 31, 2022
Amount	Amount	Amount

Liabilities

Current liabilities

Notes and accounts payable - trade Electronically recorded obligations - operating Short-term borrowings

Commercial papers Accounts payable - other Income taxes payable Notes payable - facilities

Electronically recorded obligations - facilities

Provision for bonuses for directors (and other officers)

Other

Total current liabilities

	44,174		34,742		360,928
	19,861		16,367		162,276
*4	18,782	*4	13,440	*4	153,460
	2,000		-		16,341
	12,041		15,976		98,382
	2,857		4,761		23,343
	274		358		2,239
	6,821		3,270		55,732
	120		120		980
*3	22,444		18,802	*3	183,381
	129,376		107,839		1,057,080

Non-current liabilities
Bonds payable		20,000		20,000		163,412
Long-term borrowings		41,696		31,980		340,681
Lease liabilities		6,100		6,041		49,841
Deferred tax liabilities		19,910		18,045		162,677
Deferred tax liabilities for land revaluation	*8	928	*8	928	*8	7,582
Provision for retirement benefits for directors		67		64		547
(and other officers)
Retirement benefit liability		4,892		4,562		39,971
Other		7,852		7,880		64,156
Total non-current liabilities		101,447		89,503		828,883
Total liabilities		230,824		197,342		1,885,971
Net assets
Shareholders' equity
Share capital		33,021		33,021		269,801
Capital surplus		55,292		55,301		451,769
Retained earnings		93,661		95,869		765,267
Treasury shares		(351)		(4,654)		(2,868)
Total shareholders' equity		181,623		179,537		1,483,969
Accumulated other comprehensive income
Valuation difference on available-for-sale		16,180		17,171		132,200
securities
Deferred gains or losses on hedges		(794)		(115)		(6,487)

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	As of	As of	As of
	March 31, 2022	March 31, 2021	March 31, 2022
	Amount	Amount	Amount
Revaluation reserve for land	2,137	2,137	17,461
Foreign currency translation adjustment	7,163	417	58,526
Remeasurements of defined benefit plans	8,922	3,098	72,898
Total accumulated other comprehensive	33,609	22,708	274,606
income
Non-controlling interests	34,705	32,324	283,561
Total net assets	249,938	234,570	2,042,144
Total liabilities and net assets	480,763	431,913	3,928,123

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