Summary of Consolidated Financial Results (Japanese Accounting Standards) for the Six Months Ended September 30, 2021 (Q2 FY 2021)

November 05, 2021

Summary of Consolidated Financial Results

(Japanese Accounting Standards)

for the Six Months Ended September 30, 2021 (Q2 FY 2021)

Company name:

Stockexchange listing:

Stock code:

URL:

Representative:

Contact:

Scheduled date for filing of securities report: Scheduled date of commencement of dividend payment: Supplementary documents for financial results: Quarterly results briefing:

Itoham Yonekyu Holdings Inc. Tokyo Stock Exchange

2296

https://www.itoham-yonekyu-holdings.com/

Isao Miyashita, President and Representative Director Kenji Uchiyama, Manager, Investor Relations Section Tel. [phone]

November 12, 2021

-

Yes

Yes(for analysts and institutional investors)

(Amounts of less than one million yen are truncated)

1. Consolidated Financial Results for the Six Months Ended September 30, 2021 (April 1, 2021-September 30, 2021)

(1) Consolidated Results of Operations (Accumulated Total)		(% figures show year-on-year change)
	Net sales		Operating income	Ordinary income	Profit attributable to
		owners of parent
Six months ended	Million Yen	%	Million Yen	%	Million Yen	%	Million Yen	%
September 30, 2021	417,762	―	14,480	―	16,540	―	11,810	―
September 30, 2020	414,623	-4.1	12,625	34.7	13,544	31.5	10,946	58.0

(Note) Comprehensive income:	Six months ended September 30, 2021
	Six months ended September 30, 2020
	Net income per share	Fully diluted net
	income
Six months ended	Yen	Yen
September 30, 2021	40.33	40.31
September 30, 2020	37.15	37.13

12,271 million Yen (－%)

10,895 million Yen (92.7%)

(Note) The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan (ASBJ) Statement No. 29 ), etc. has been applied since the beginning of the six months of the consolidated fiscal year under review. As a result, the accounting treatment of revenue

differs from that of the six months of the previous fiscal year. Therefore, Consolidated Financial Results is provided without stating the amount of the year-on-year comparison (%) .

(2) Consolidated financial position

		Total assets	Net assets	Equity ratio
		Million Yen	Million Yen		%
As of September 30, 2021		405,147	253,682		62.4
As of March 31, 2021		394,086	247,648		62.7
(Reference) Shareholders' equity:	As of September 30, 2021	252,990	million Yen
		As of March 31, 2020	246,931	million Yen

(Note) The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan (ASBJ) Statement No. 29 ), etc. has been applied since the beginning of the six months of the consolidated fiscal year under review. As a result, the accounting treatment of revenue

differs from that of the six months of the previous fiscal year.

2. Dividends

	First		Second	Third	Fiscal	Total
For the fiscal year ended		Yen	Yen	Yen	Yen	Yen
March 31, 2021		－	0.00	－	21.00	21.00
March 31, 2022		－	0.00
For the fiscal year ending
March 31, 2022				－	22.00	22.00
(Forecast)

(Note) Changes to most recent dividend forecast: None

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2022

(April 1, 2021 to March 31, 2022)

(% figures show year-on-year change)

Net Sales

Operating income

Ordinary income

Profit attributable to

Net income per share

owners of parent

Million Yen

%

Million Yen

%

Million Yen

%

Million Yen

%

Yen

Full year

820,000

－

24,000

－

26,000

－

16,500

－

56.35

(Note) Changes to most recent financial results forecast: None

(Note) The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan (ASBJ) Statement No. 29 ), etc. has been applied since the beginning of the six months of the consolidated fiscal year under review. As a result, the accounting treatment of revenue

differs from that of the six months of the previous fiscal year. Therefore, the Forecast of Consolidated Financial Results is provided without stating the amount of the year-on-year comparison (%) .

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Consolidated Financial Statements	ItohamYonekyu Holdings Inc. (2296)
(1) Consolidated Balance Sheets
		(Million Yen)
	As of March 31, 2021	As of September 30, 2021
ASSETS
Current assets
Cash and deposits	50,952	29,352
Notes and account receivable - trade	86,591	89,506
Merchandise and finished goods	63,313	80,123
Work in process	1,745	1,862
Raw materials and supplies	17,174	24,283
Other	6,617	11,848
Allowance for doubtful accounts	(10)	(10)
Total current assets	226,384	236,967
Non-current assets
Property, plant and equipment
Buildings and structures, net	36,433	36,655
Machinery, equipment and vehicles, net	28,919	29,469
Tools, furniture & fixtures, net	1,468	1,492
Land	25,745	25,921
Leased assets, net	2,758	2,610
Others, net	2,269	1,416
Total property, plant and equipment	97,595	97,566
Intangible assets
Goodwill	19,573	18,868
Other	2,150	3,020
Total intangible assets	21,724	21,888
Investments and other assets
Investment securities	29,331	29,255
Net defined benefit assets	12,162	12,798
Other	6,993	6,771
Allowance for doubtful receivables	(105)	(100)
Total investments and other assets	48,382	48,724
Total non-current assets	167,702	168,179
Total Assets	394,086	405,147

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ItohamYonekyu Holdings Inc. (2296)

		(Million Yen)
	As of March 31, 2021	As of September 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	56,615	65,581
Electronically recorded obligations	1,660	1,789
Short-term loans payable	25,704	26,688
Current portion of Long-term loans payable	155	152
Income taxes payable	4,149	2,486
Provision for bonuses	6,397	4,171
Provision for directors' bonuses	147	71
Provision for loss on disaster	467	329
Other	27,743	26,258
Total current liabilities	123,041	127,529
Non-current liabilities
Long-term loans payable	10,717	10,642
Net defined benefit liability	1,725	1,738
Asset retirement obligation	1,475	1,491
Other	9,477	10,063
Total non-current liabilities	23,396	23,935
Total liabilities	146,438	151,464
Net assets
Shareholder's equity
Capital stock	30,003	30,003
Capital surplus	96,624	96,615
Retained earnings	116,989	122,496
Treasury shares	(3,624)	(3,500)
Total shareholder's equity	239,992	245,614
Other accumulated comprehensive income
Valuation difference on available-for-sale securities	7,298	6,991
Deferred gains or losses on hedges	(329)	(402)
Foreign currency translation adjustment	(3,073)	(2,035)
Remeasurements of defined benefit plan	3,042	2,823
Total accumulated other comprehensive income	6,939	7,376
Subscription rights to shares	131	118
Non-controlling interests	585	573
Total net assets	247,648	253,682
Total liabilities and net assets	394,086	405,147

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(2) Consolidated statements of income and comprehensive income	ItohamYonekyu Holdings Inc. (2296)
(Consolidated statements of income)
(April 1,2021 - September 30, 2021)
			(Million Yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Net sales	414,623	417,762
Cost of goods sold		346,332	350,583
Gross profit		68,290	67,178
Selling, general and administrative expenses		55,664	52,698
Operating income		12,625	14,480
Non-operating income
Interest income	31	17
Dividend income	137	148
Rent income	209	210
Subsidy income	116	540
Equity in income of affiliates	449	888
Other		373	551
Total non-operating income		1,317	2,357
Non-operating expenses
Interest expenses	229	168
Rent on real estate	63	63
Other		106	64
Total non-operating expenses		398	296
Ordinary income		13,544	16,540
Extraordinary income
Gain on sale of non-current assets	12	4
Gain on sale of investment securities	5	55
Insurance income	2,597	134
Gain on donation of non-current assets	‐	232
Other		‐	24
Total extra-ordinary income		2,615	451
Extraordinary loss
Loss on retirement of non-current assets	139	91
Others		10	11
Total extra-ordinary expenses		149	103
Net income before taxes		16,010	16,888
Income taxes-current	3,845	3,867
Income taxes-deferred		1,147	1,188
Total income taxes		4,992	5,055
Net income		11,017	11,833
Income attributable to non-controlling interests		70	23
Income attributable to owners of parent		10,946	11,810

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ItohamYonekyu Holdings Inc. (2296)

(Consolidated statements of comprehensive income) (April 1,2021 - September 30, 2021)

		(Million Yen)
	Six months ended	Six months ended
	September 30, 2020	September 30, 2021
Net income	11,017	11,833
Other comprehensive income
Valuation difference on available-for- sale securities	865	(314)
Deferred gains or losses on hedges	(283)	(73)
Foreign currency translation adjustment	(613)	1,001
Remeasurements of defined benefit plan	94	(229)
Share of other comprehensive income of entities accounted for	(185)	55
using equity method
Total other comprehensive income	(121)	438
Comprehensive income	10,895	12,271
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	10,840	12,247
Comprehensive income attributable to non-controlling interests	55	24

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