Itoki : Financial Results for the fiscal year Ended December, 2021 (Consolidated Basis)（202KB）

Translation

February 14, 2022

	Consolidated Financial Results
	for the Fiscal Year Ended December 31, 2021
Company name: ITOKI CORPORATION
Listing:	Tokyo Stock Exchange 1st Section
Stock code:	7972
URL:	https://www.itoki.jp/
Representative:	Yoshiro Hirai, President
Inquiries:	Yoshiaki Moriya, Director, Managing Executive Officer, General Manager of
	Administrative Division
	TEL: [phone] (from overseas)

Scheduled date of ordinary general meeting of shareholders: March 24, 2022

Scheduled date to commence dividend payments:	March 25, 2022
Scheduled date to file Securities Report:	March 24, 2022
Preparation of supplementary material on financial results: Yes
Holding of financial results presentation meeting:	Yes (for institutional investors and analysts)

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

1. Consolidated performance for the fiscal year ended December 31, 2021

(from January 1, 2021 to December 31, 2021)

(1)	Consolidated operating results						(Percentages indicate year-on-year changes.)
		Net sales			Operating profit	Ordinary profit		Profit attributable to
						owners of parent
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
December 31, 2021	115,839	(0.3)	2,536	41.0		2,437	29.5			1,166	-
December 31, 2020	116,210	(4.9)	1,798	99.1		1,881	99.0			(235)	-
Note:	Comprehensive	income
	For the fiscal year ended December 31, 2021: 1,441 million yen [- %]
	For the fiscal year ended December 31, 2020: (1,338) million yen [- %]
		Earnings		Diluted earnings		Return on	Ordinary profit/		Operating profit/
		per share			per share		equity	total assets		net sales
Fiscal year ended	Yen			Yen			%			%			%
December 31, 2021	25.82			25.67			2.6			2.3			2.2
December 31, 2020	(5.18)		-			(0.5)			1.8			1.5

Note: Diluted earnings per share for the fiscal year ended December 31, 2020 is not presented because, although there were potential shares, a loss per share was recorded.

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
December 31, 2021	103,898	45,076	43.2	992.89
December 31, 2020	105,096	44,189	41.6	969.43

Reference: Equity

As of December 31, 2021: 44,885 million yen

As of December 31, 2020: 43,766 million yen

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(3) Consolidated cash flows

	Net cash provided by	Net cash provided by	Net cash provided by	Cash and cash
	(used in) operating	(used in) investing	(used in) financing	equivalents
	activities	activities	activities	at end of period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
December 31, 2021	2,774	(1,170)	(2,658)	15,797
December 31, 2020	4,561	(1,152)	(2,267)	16,697

2. Cash dividends

		Annual dividends		Total cash	Dividend	Ratio of
	First	Second	Third	Fiscal		dividends to
		dividends	payout ratio
		net assets
	quarter-	quarter-	quarter-	year-	Total	(Total)	(Consolidated)
	(Consolidated)
	end	end	end	end
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	0.00	-	13.00	13.00	586	-	1.3
December 31, 2020
Fiscal year ended	-	0.00	-	15.00	15.00	678	58.1	1.5
December 31, 2021
Fiscal year ending	-	0.00	-	15.00	15.00		48.4
December 31, 2022
(Forecast)

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	120,000	3.6	3,000	18.3	2,900	19.0	1,400	20.0	30.96
December 31, 2022

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* Notes

(1) Changes in significant subsidiaries during the fiscal year ended December 31, 2021 (changes in specified subsidiaries accompanying change in scope of consolidation): None

1. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
2. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   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

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

As of December 31, 2021	45,664,437 shares
As of December 31, 2020	45,664,437 shares

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

As of December 31, 2021	457,997 shares
As of December 31, 2020	517,704 shares

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

Fiscal year ended December 31, 2021	45,186,688 shares
Fiscal year ended December 31, 2020	45,488,004 shares

Reference: Summary of non-consolidated performance

1. Non-consolidated performance for the fiscal year ended December 31, 2021

(from January 1, 2021 to December 31, 2021)

(1) Non-consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales			Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
December 31, 2021	80,286	(7.1)	1,667	31.4	1,467	76.5	544	14.7
December 31, 2020	86,432	3.8	1,269	509.2	831	-	474	-
	Earnings		Diluted earnings
	per share			per share
Fiscal year ended	Yen			Yen
December 31, 2021	12.04			11.97
December 31, 2020	10.43			-

Note: Diluted earnings per share for the fiscal year ended December 31, 2020 is not presented because, although there were potential shares, there were no dilutive effects.

(2) Non-consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
December 31, 2021	75,412	36,422	48.2	804.69
December 31, 2020	78,458	36,520	46.5	807.93

Reference: Equity

As of December 31, 2021: 36,377 million yen

As of December 31, 2020: 36,475 million yen

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• Financial results reports are not required to be audited by certified public accountants or an audit corporation.
• Explanation concerning proper use of earnings forecasts and other specific matters

All forward-looking statements in this document are prepared based on information available as of the issuing date of this report. Actual results may differ from the forecast figures due to various factors.

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Consolidated financial statements

(1) Consolidated balance sheets

			(Millions of yen)
		As of December 31, 2020	As of December 31, 2021
Assets
Current assets
Cash and deposits	18,246	17,351
Notes and accounts receivable - trade	26,599	26,783
Electronically recorded monetary claims - operating	1,959	2,059
Securities	-	100
Merchandise and finished goods	4,281	5,136
Work in process	2,266	2,685
Raw materials and supplies	2,554	2,606
Other	1,850	1,663
Allowance for doubtful accounts	(575)	(632)
Total current assets	57,183	57,753
Non-current assets
Property, plant and equipment
Buildings and structures	38,993	35,304
Accumulated depreciation	(28,324)	(25,575)
Buildings and structures, net	10,669	9,729
Machinery, equipment and vehicles	16,776	16,372
Accumulated depreciation	(14,256)	(14,105)
Machinery, equipment and vehicles, net	2,519	2,266
Land	9,888	9,532
Leased assets	2,030	1,861
Accumulated depreciation	(876)	(1,051)
Leased assets, net	1,153	809
Construction in progress	171	410
Other	11,072	11,221
Accumulated depreciation	(9,268)	(9,552)
Other, net	1,804	1,669
Total property, plant and equipment	26,206	24,417
Intangible assets
Goodwill	2,093	1,317
Other	3,497	2,797
Total intangible assets	5,590	4,114
Investments and other assets
Investment securities	5,583	5,512
Long-term loans receivable	2	0
Deferred tax assets	1,414	2,586
Retirement benefit asset	1,418	1,705
Other	8,172	8,273
Allowance for doubtful accounts	(475)	(465)
Total investments and other assets	16,116	17,612
Total non-current assets	47,912	46,144
Total assets		105,096	103,898

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