Itoki : Financial Results for the First Nine Months of the Fiscal Year Ending December 31, 2022 (Consolidated Basis)（129KB）

Translation

November 14, 2022

Consolidated Financial Results

for the First Nine Months of the Fiscal Year Ending December 31, 2022

Company name:	ITOKI CORPORATION
Listing:	Tokyo Stock Exchange
Stock code:	7972
URL:	https://www.itoki.jp/
Representative:	Koji Minato, President
Inquiries:	Yoshiaki Moriya, Director, Managing Executive Officer, General Manager of
	Administrative Division
	TEL: [phone] (from overseas)

Scheduled date to file Quarterly Securities Report:	November 14, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results presentation meeting:	None

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated performance for the first nine months of the fiscal year ending

December 31, 2022 (from January 1, 2022 to September 30, 2022)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)
			Net sales		Operating profit	Ordinary profit	Profit attributable to
				owners of parent
	Nine months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	September 30, 2022	89,961	7.0	4,086	136.0		4,125	149.8	3,517	313.8
	September 30, 2021	84,047	(2.5)	1,731	140.7		1,651	123.4	850	-
	Note:	Comprehensive	income
		For the first nine months of the fiscal year ending December 31, 2022:	3,495 million yen [219.8%]
		For the first nine months of the fiscal year ended December 31, 2021:	1,092 million yen [-%]
			Earnings per share	Diluted earnings per
			share
	Nine months ended		Yen		Yen
	September 30, 2022	77.73	77.02
	September 30, 2021	18.82	18.69
(2) Consolidated financial position
			Total assets		Net assets		Equity ratio	Net assets per share
	As of		Millions of yen	Millions of yen			%		Yen
	September 30, 2022	108,000	48,166			44.5	1,061.58
	December 31, 2021	103,898	45,076			43.2		992.89
	Reference:	Equity
		As of September 30, 2022: 48,071 million yen
		As of December 31, 2021: 44,885 million yen

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2. Cash dividends

					Annual dividends
		First quarter-end	Second quarter-end		Third quarter-end	Fiscal year-end	Total
		Yen	Yen		Yen	Yen	Yen
	Fiscal year ended	-	0.00		-	15.00	15.00
	December 31, 2021
	Fiscal year ending	-	0.00		-
	December 31, 2022
	Fiscal year ending
	December 31, 2022					15.00	15.00
	(Forecast)
	Note: Revisions to the	forecasts of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)

(Percentages indicate year-on-year changes.)

		Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per
			owners of parent	share
		Millions of	%	Millions of	%	Millions of	%	Millions of	%	Yen
		yen	yen	yen	yen
	Fiscal year ending	123,000	6.1	4,000	56.2	4,000	64.1	2,700	131.4	59.63
	December 31, 2022
	Note: Revisions to the	consolidated earnings	forecasts most recently	announced:	None

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* Notes

1. Changes in significant subsidiaries during the first nine months of the fiscal year ending December 31, 2022 (changes in specified subsidiaries accompanying change in scope of consolidation): None
2. Application of specific accounting for preparing the consolidated quarterly financial statements: None
3. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
4. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None

c. Changes in accounting estimates:None

d. Restatement of prior period financial statements after error corrections: None

(4) Number of issued shares (common shares)

1. Total number of issued shares at the end of the period (including treasury shares)

As of September 30, 2022	45,664,437 shares
As of December 31, 2021	45,664,437 shares

1. Number of treasury shares at the end of the period

As of September 30, 2022	381,596 shares
As of December 31, 2021	457,997 shares

1. Average number of shares during the period (cumulative from the beginning of the fiscal year)

Nine months ended September 30, 2022	45,248,899 shares
Nine months ended September 30, 2021	45,180,072 shares

• Quarterly financial results reports are not required to be subjected to quarterly reviews conducted by certified public accountants or an audit corporation.
• Explanation concerning proper use of earnings forecasts and other specific matters

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual results may differ materially from these forecasts due to various factors.

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Consolidated quarterly financial statements

(1) Consolidated quarterly balance sheets

			(Millions of yen)
		As of December 31, 2021	As of September 30, 2022
Assets
Current assets
Cash and deposits	17,351	17,138
Notes and accounts receivable - trade	26,783	-
Notes and accounts receivable - trade, and	-	24,111
contract assets
Electronically recorded monetary claims -	2,059	4,598
operating
Securities	100	100
Merchandise and finished goods	5,136	6,311
Work in process	2,685	2,229
Raw materials and supplies	2,606	3,109
Other	1,663	2,997
Allowance for doubtful accounts	(632)	(722)
Total current assets	57,753	59,873
Non-current assets
Property, plant and equipment
Buildings and structures, net	9,729	9,566
Land	9,532	9,300
Other, net	5,155	8,065
Total property, plant and equipment	24,417	26,932
Intangible assets
Goodwill	1,317	1,200
Other	2,797	2,944
Total intangible assets	4,114	4,145
Investments and other assets
Investment securities	5,512	4,978
Deferred tax assets	2,586	2,529
Retirement benefit asset	1,705	1,712
Other	8,273	8,295
Allowance for doubtful accounts	(465)	(466)
Total investments and other assets	17,612	17,048
Total non-current assets	46,144	48,126
Total assets		103,898	108,000

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			(Millions of yen)
		As of December 31, 2021	As of September 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	12,335	11,670
Electronically recorded obligations - operating	6,529	6,902
Current portion of bonds payable	40	80
Short-term borrowings	9,682	10,009
Current portion of long-term borrowings	2,024	1,649
Income taxes payable	1,093	792
Accrued consumption taxes	980	378
Provision for bonuses	1,712	1,852
Provision for bonuses for directors (and other	134	30
officers)
Provision for loss on order received	0	-
Provision for product warranties	61	29
Provision for loss on liquidation of subsidiaries	192	-
and associates
Other	7,756	10,259
Total current liabilities	42,544	43,655
Non-current liabilities		-
Bonds payable	60
Long-term borrowings	6,098	6,394
Lease obligations	1,433	872
Deferred tax liabilities	461	461
Retirement benefit liability	4,093	4,164
Provision for retirement benefits for directors (and	110	82
other officers)
Provision for loss on voluntary recall of products	83	83
Asset retirement obligations	1,091	1,251
Other	2,845	2,869
Total non-current liabilities	16,277	16,178
Total liabilities	58,822	59,833
Net assets
Shareholders' equity
Share capital	5,294	5,294
Capital surplus	9,638	9,638
Retained earnings	29,530	32,610
Treasury shares	(161)	(134)
Total shareholders' equity	44,301	47,408
Accumulated other comprehensive income
Valuation difference on available-for-sale	403	118
securities
Foreign currency translation adjustment	182	577
Remeasurements of defined benefit plans	(2)	(32)
Total accumulated other comprehensive income	583	663
Share acquisition rights	45	45
Non-controlling interests	145	49
Total net assets	45,076	48,166
Total liabilities and net assets		103,898	108,000

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