Ishihara Sangyo Kaisha : Summary of Consolidated Financial Statements for 3Q of Fiscal Year Ending March 31, 2022(Japan GAAP)

Summary of Consolidated Financial Statements

for Third Quarter of Fiscal Year Ending March 31, 2022(Japan GAAP)

				February 10, 2022
				Listed Exchanges: TSE
Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.
Code:	4028	URL https://www.iskweb.co.jp/
Representative:	(Title) Executive Director President	(Name) Hideo Takahashi
Contact:	(Title) Director		(Name) Yasunobu Kawazoe	Tel [phone]

Scheduled date of securities report submission: February 14, 2022

Scheduled date of dividend payment commencement: -

(Any amount less than one million yen is rounded down to the nearest million yen or nil.)

1. Consolidated Financial Results for Third Quarter of Fiscal Year Ended March 31,2022(April 1,2021 to December 31, 2021)

1. Consolidated Operating Results

(Percentages represent changes from same period in previous year.)

Net sales

Operating income

Ordinary income

Net income

millions of yen

%

millions of yen

%

millions of yen

%

millions of yen

%

3Q, 2021

78,947

16.3

5,925

⎯

6,083

⎯

4,768

⎯

3Q, 2020

67,874

-4.0

-508

⎯

-1,249

⎯

-,2789

⎯

(Note) Comprehensive income:

as of December 31, 2021: 5,394 million yen (⎯%),

as of December 31,2020: -2,649 million yen (⎯%)

Net income per share

Net income per share after full dilution

Yen

Yen

3Q, 2021

119.34

⎯

3Q, 2020

-69.80

⎯

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

millions of yen

Millions of yen

%

3Q, 2021

180,862

83,936

46.4

Year ended March 31, 2021

180,021

79,515

44.2

(Reference) Equity capital:

as of December 31, 2021: 83,936million yen, as of March 31, 2021: 79,515 million yen

2. Dividends

Dividends per share

(Record date)

June 30

September 30

December 31

March 31

Annual

(Q1-end)

(Q2-end)

(Q3-end)

(Year-end)

Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2021

⎯

0.00

⎯

18.00

18.00

Year ended March 31, 2022

⎯

0.00

⎯

Year ending March 31, 2022

25.00

25.00

(Forecast)

(Note) 1. Modification in the dividend forecast for current quarter: No modification

3. Forecast for Consolidated Results for the Full Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.)

	Net sales		Operating income	Ordinary income	Net income		Earnings per share
	millions		%	millions	%	millions		%	millions		%	Yen
	of yen		of yen	of yen		of yen
Full year	110,000		⎯	9,000	74.0	8,500		43.0	6,500		92.7	162.68
(Note) Modification in the dividend forecast for current quarter: No modification

(Note) Financial forecasts for the year ending March 31,2022 are in line with the Accounting Standard for Revenue Recognition. This is why the rate of increase (decrease) in net sales in FY2020 before applying the standard cannot be announced.

• This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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4. Other information

1. Significant changes in subsidiaries during the period
   (changes in specified subsidiaries resulting in the change in consolidation scope): No
2. Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: No
3. Changes in accounting principles, procedures, and the method of presentation

1) Changes due to revisions of accounting standards etc.	: Adopted
2)	Changes other than those defined in 1) above	: Adopted
3)	Changes in accounting procedures	: No
4)	Changes in the method of presentation	: No
(4) Issued shares (common shares)
1)	Issued shares as of period-end (including repurchased treasury shares)
	As of December 31, 2021: 40,383,943 shares	As of March 31, 2021: 40,383,943 shares
2)	Number of shares of treasury stock as of period-end
	As of December 31, 2021: 430,135shares	As of March 31, 2021: 427,338 shares
3) Average number of outstanding shares during period
	3Q 2021: 39,955,201 shares	3Q 2020: 39,959,649 shares

*Quarterly financial results are outside the scope of quarterly review.

*Notes on proper use of forecast and other matters

The forecast of financial results presented in this document is the result of management's assessment based upon currently available assumptions, prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as the global economy, competition, and foreign currency fluctuations.

• This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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5. Consolidated Financial Statements

(1) Consolidated Balance Sheet

		(Unit: millions of yen)
Account Category	As of March 31, 2021	As of December 31, 2021
(summary)
Assets
Current assets
Cash and deposits	25,941	34,178
Notes and accounts receivable - trade	34,235	－
Notes and accounts receivable-trade and contract assets	－	27,899
Merchandise and finished goods	31,180	28,302
Work in process	5,040	5,509
Raw materials and supplies	18,253	19,219
Other	3,456	4,510
Allowance for doubtful accounts	-1,104	-1,138
Total current assets	117,003	118,481
Non-current assets
Property, plant and equipment
Machinery equipment, net	20,056	21,101
Others, net	27,051	25,181
Total property, plant and equipment	47,107	46,282
Intangible assets	551	961
Investments and other assets
Investment securities	6,187	6,175
Deferred tax assets	8,547	8,452
Net defined benefit asset	10	11
Other	698	582
Allowance for doubtful accounts	-84	-83
Total investments and other assets	15,358	15,136
Total non-current assets	63,017	62,380
Total assets	180,021	180,862

• This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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		(Unit: millions of yen)
Account Category	As of March 31, 2021	As of December 31, 2021
(summary)
Liabilities
Current liabilities
Notes and accounts payable - trade	14,476	16,823
Short-term loans payable	16,423	16,275
Currents portion of bonds	1,118	1,118
Accrued income taxes	614	535
Provision	942	607
Other	8,627	10,149
Total current liabilities
42,203	45,509
Long-term liabilities
Bonds payable
5,017	4,353
Long-term loans payable	33,130	27,829
Provision for environment and safety improvement	1,741	1,452
Other provision	227	116
Net defined benefit liability	12,693	12,923
Liabilities from application of equity method	451	737
Other	5,040	4,003
Total long-term liabilities
58,302	51,416
Total Liabilities
100,506	96,925
Net assets
Shareholder's equity
Capital stock	43,420	43,420
Capital surplus	10,627	10,627
Retained earnings	27,872	31,671
Treasury shares	-730	-734
Total shareholders' equity
81,189	84,984
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	-308	-308
Foreign currency translation adjustment	-1,286	-699
Remeasurements of defined benefit plans	-78	-40
Total accumulated other comprehensive income
-1,674	-1,048
Total net assets
79,515	83,936
Total liabilities and net assets
180,021	180,862

• This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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(2) Consolidated Statements of Income

		(Unit: millions of yen)
	Q3 2020	Q3 2021
Account Category	(April 1,2020 to	(April 1,2021 to
	December 31, 2020)	December 31, 2021
Net sales	67,874	78,947
Cost of sales	51,491	57,537
Gross profit	16,382	21,409
Selling, general and administrative expenses	16,891	15,483
Operating income(loss) (-)	-508	5,925
Non-operating income
Interest income	21	11
Dividend income	143	167
Foreign exchange gains	⎯	672
Reversal of allowance for doubtful accounts	355	⎯
Gain on sales of raw materials	135	100
Other	107	242
Total non-operating income	763	1,194
Non-operating expenses
Interest expenses	402	407
Financial fee	182	203
Share of loss of entities accounted for using equity method	435	262
Foreign exchange losses	297	⎯
Other	186	163
Total non-operating expenses	1,505	1,037
Ordinary income(loss) (-)	-1,249	6,083
Extraordinary income
Gain on forgiveness of debts	⎯	552
Other	⎯	160
Total extraordinary income	⎯	713
Extraordinary loss
Impairment loss	314	⎯
Loss on disposal of non-current assets	502	804
Loss on business withdrawal	758	⎯
Total extraordinary losses	1,574	804
Income (loss) before income taxes and minority interests (-)	-2,824	5,991
Income taxes-current	313	938
Income taxes - deferred	-348	284
Total income taxes	-35	1,222
Net income (loss) (-)	-2,789	4,768
Profit (loss) attributable to owners of parent (-)	-2,789	4,768

• This is an English translation of Summary originally written in Japanese and disclosed to TSE. For official purposes, the Japanese version takes preference over this English translation

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