Ibiden : Consolidated Financial Results For the First Quarter Ended June 30, 2021 （PDF/580.5 KB）

August 4, 2021

Consolidated Financial Results

For the First Quarter Ended June 30, 2021

Company name： IBIDEN CO., LTD.
Stock exchange listings： Tokyo and Nagoya Stock Exchange (Code number：4062)
URL： https://www.ibiden.com/
Representative： Takeshi Aoki, President & CEO, Representative Director
Contact： Hisashi Sano, Vice President of Strategic Corporate Planning Operation
(Tel. [phone])
Filing date of quarterly securities report： August 10, 2021
							(Amounts less than one million yen are omitted)
1. Consolidated Financial Results for FY 2021 First quarter (From April 1, 2021 to June 30, 2021)
(1) Operating results			(Percentage figures indicate the change from the same period of the prior fiscal year)
	Net sales			Operating profit		Ordinary profit	Profit (loss) attributable
				to owners of parent
	Million yen	%		Million yen	%		Million yen	%	Million yen	%
FY 2021 1st quarter	92,335	42.4		15,722	140.5		16,059	118.4	9,565	108.1
FY 2020 1st quarter	64,827	(11.6)		6,536	44.7		7,352	42.1	4,596	58.3

Note： Comprehensive income

FY 2021 1st quarter：

11,116 million yen

(38.8%)

FY 2020 1st quarter：

8,011 million yen

(-%)

Basic earnings

Diluted earnings

per share

per share

Yen

Yen

FY 2021 1st quarter

68.52

-

FY 2020 1st quarter

32.89

-

(2) Financial positions

Total assets

Net assets

Capital adequacy ratio

Net assets per share

Million yen

Million yen

%

Yen

FY 2021 1st quarter

581,036

330,117

55.8

2,322.16

FY 2020

578,518

321,863

54.6

2,262.99

Note： Owner's equity

As of June 30, 2021 ：

324,194 million yen

As of March 31, 2021 ：

315,914 million yen

2. Notes

1. Material changes in subsidiaries during this period ： None
2. Applying of specific accounting of the consolidated quarterly financial statements： Yes

The provision for income taxes is computed by multiplying profit before income taxes by estimated annual effective tax rates.

1. Changes in accounting policies, accounting estimates and retrospective restatement (ⅰ) Changes in accounting policies based on revisions of accounting standard: Yes

(Applying Accounting Standard for Revenue Recognition)

"Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020. Hereinafter "Revenue Recognition Standard") and related guidelines have been adopted from the beginning of the current first quarter. In line with this adoption, revenue is

recognized upon the transfer of controls for promised goods or services to customers in an amount that reflects the consideration they expect to be entitled to in exchange for those goods or services.

As a result, revenue from the sales of products, which was previously recognized at the shipping time, will be recognized when the customer obtains control of such products and when performance obligations are deemed satisfied based on contracts with customers. When applying the Revenue Recognition Standard, the Company complies with the transitional treatment stipulated in the provisions of paragraph 84 of the standard. The cumulative impact of retroactively applying the new accounting policy before the beginning of the first quarter for the current fiscal year is added or subtracted to the retained earnings at the beginning of the first quarter for the current fiscal year and the new accounting policy is applied from the beginning balance.

As a result, net sales increased to 668 million yen, cost of sales increased to 720 million yen and operating profit, ordinary profit, and profit before income taxes for the current first quarter decreased to 52 million yen. In addition, the balance of retained earnings at the beginning of the current first quarter decreased to 18 million yen.

As a result of the adoption of the Revenue Recognition Standard, "Notes and accounts receivable - trade" which was presented in "Current assets" of the consolidated balance sheet for the previous fiscal year, is included in "Notes and accounts receivable - trade, and contract assets" from the first quarter of the current fiscal year. Following the transitional treatment outlined in Article 89-2 of the Revenue Recognition Standard, consolidated financial statements for past periods have not been reclassified using the new presentation method.

(Applying Accounting Standard for Fair Value Measurement)

Accounting Standards Board of Japan (ASBJ) Statement No. 30 "Accounting Standard for Fair Value Measurement"

"Accounting Standard for Fair Value Measurement" (ASBJ Statement No. 30, July 4, 2019) and other standards have been adopted from the beginning of the current first quarter. Following the transitional treatment outlined in Article 19 of "Accounting Standard for Fair Value Measurement" and Article 44-2 of "Accounting Standard for Financial Instruments" (ASBJ Statement No. 10, July 4, 2019), the Company will continue to apply new accounting policies prescribed by "Accounting Standard for Fair Value Measurement" and other standards into

the future. This adoption does not affect the quarterly consolidated financial statements.

(ⅱ) Changes in accounting policies other than the above: None

(ⅲ) Changes in accounting estimates: None

(ⅳ) Retrospective restatement: None

(4) Number of shares issued and outstanding (common stock)

(ⅰ) Number of shares outstanding (including treasury stock)：

	As of June 30, 2021	140,860,557 shares	As of March 31, 2021	140,860,557 shares
(ⅱ) Number of treasury stock ：
	As of June 30, 2021	1,251,341 shares	As of March 31, 2021	1,260,507 shares
(ⅲ) Average number of shares:：
	FY 2021 1st quarter	139,607,093 shares	FY 2020 1st quarter	139,755,937 shares

• This quarterly financial result is not subject to auditing firms' quarterly review procedure.

Consolidated balance sheet

			(Million yen)
	As of	As of	Increase
	Jun 30,2021	Mar 31,2021	(Decrease)
Assets
Current assets
Cash and deposits	118,891	126,884	(7,993)
Notes and accounts receivable - trade, and contract	95,743	-	95,743
assets
Notes and accounts receivable - trade	-	89,796	(89,796)
Merchandise and finished goods	15,963	13,653	2,310
Work in process	18,178	18,734	(555)
Raw materials and supplies	24,881	24,636	245
Other current assets	10,050	11,769	(1,718)
Allowance for doubtful accounts	(88)	(109)	20
Total current assets	283,621	285,364	(1,743)
Non-current assets
Property, plant and equipment
Buildings and structures	77,604	78,782	(1,178)
Machinery, equipment and vehicles	74,264	70,773	3,490
Land	20,112	19,971	141
Lease assets	241	246	(4)
Construction in progress	38,787	38,590	197
Other - property, plant and equipment	6,964	6,463	500
Total property, plant and equipment	217,976	214,828	3,148
Intangible assets	5,413	5,392	21
Investments and other assets
Investment securities	68,480	68,198	282
Long-term loans receivable	8	8	(0)
Deferred tax assets	3,724	3,488	236
Other assets	2,665	1,480	1,184
Allowance for doubtful accounts	(854)	(242)	(612)
Total investments and other assets	74,025	72,933	1,091
Total non-current assets	297,415	293,153	4,261
Total assets	581,036	578,518	2,517
			(Continued)

			(Million yen)
	As of	As of	Increase
	Jun 30,2021	Mar 31,2021	(Decrease)
Liabilities and net assets
Liabilities
Current liabilities
Notes and accounts payable - trade	47,710	45,717	1,992
Short-term loans payable	20,030	20,130	(100)
Current portion of bonds	15,000	15,000	-
Accounts payable - other	12,746	17,492	(4,745)
Income taxes payable	4,941	5,624	(682)
Provision for bonuses	2,423	4,802	(2,379)
Provision for bonuses for directors	-	155	(155)
Provision for loss on liquidation of subsidiaries and	187	225	(37)
associates
Notes payable - facilities	4,695	8,606	(3,911)
Other - current liabilities	17,229	14,144	3,084
Total current liabilities	124,964	131,899	(6,935)
Non-current liabilities
Bonds payable	35,000	35,000	-
Long-term loans payable	80,000	80,044	(44)
Lease obligations	172	172	(0)
Deferred tax liabilities for land revaluation	68	68	-
Retirement benefit liability	1,111	1,078	32
Provision for share-based compensation	371	352	19
Deferred tax liabilities	6,950	7,117	(166)
Other - non-current liabilities	2,279	921	1,358
Total non-current liabilities	125,953	124,755	1,198
Total liabilities	250,918	256,655	(5,736)
			(Continued)