Kamigumi : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2020

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2020 (Based on Japanese GAAP)

				August 7, 2020
Company name:	Kamigumi Co., Ltd.
Stock exchange listing:	Tokyo
Stock code:	9364	URL https://www.kamigumi.co.jp/
Representative:	President & Representative Director	Yoshihiro Fukai
Inquiries:	Executive Officer and Director of Financial	Yasuhiro Kishino	TEL [phone]
Div.
Scheduled date to file Quarterly Securities Report:	August 11, 2020
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2020 (from April 1, 2020 to June 30, 2020)
(1) Consolidated operating results (cumulative)						Percentages indicate year-on-year changes
	Operating revenue	Operating profit	Ordinary profit	Profit attributable to
	owners of parent
	Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%
Three months ended June 30, 2020	64,676		(8.6)	5,787		(11.9)	6,402		(13.0)	4,440	(15.3)
Three months ended June 30, 2019	70,725		3.2	6,569		7.7	7,361		10.4	5,241	13.1
	Earnings per share		Diluted earnings per share
			Yen			Yen
Three months ended June 30, 2020			37.68				-
Three months ended June 30, 2019			43.89				-
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen				%
As of June 30, 2020	399,402	340,686				84.8
As of March 31, 2020	400,057	337,744				83.9

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2020	-	23.00	-	23.00	46.00
Year ending March 31, 2021	-
Year ending March 31, 2021 (Forecast)		23.00	-	23.00	46.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

Percentages indicate year-on-year changes

	Operating revenue	Operating profit	Ordinary profit	Profit attributable to	Earnings per share
	owners of parent
Six months ending	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
133,000	(5.4)	11,500	(8.5)	12,000	(12.6)	8,300	(13.3)	70.43
September 30, 2020
Full year	274,000	(1.7)	23,800	(3.6)	24,700	(6.5)	17,400	(5.3)	147.66

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

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

	As of June 30, 2020	130,936,837	shares	As of March 31, 2020	130,936,837	shares
Number of treasury shares at the end of the period
	As of June 30, 2020	13,097,611	shares	As of March 31, 2020	13,097,592	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2020	117,839,239	shares	Three months ended June 30, 2019	119,434,693	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of June 30, 2020
Assets
Current assets
Cash and deposits	32,233	33,301
Trade notes and accounts receivable	44,482	41,692
Electronically recorded monetary claims - operating	636	678
Securities	-	700
Inventories	957	948
Other	6,150	6,813
Allowance for doubtful accounts	(54)	(52)
Total current assets	84,405	84,082
Non-current assets
Property, plant and equipment
Buildings and structures, net	109,515	107,436
Land	97,678	97,678
Other, net	20,636	21,812
Total property, plant and equipment	227,830	226,927
Intangible assets	6,881	6,873
Investments and other assets
Investment securities	68,376	69,435
Other	12,900	12,417
Allowance for doubtful accounts	(336)	(334)
Total investments and other assets	80,939	81,518
Total non-current assets	315,651	315,319
Total assets	400,057	399,402
Liabilities
Current liabilities
Trade notes and accounts payable	25,528	24,074
Income taxes payable	4,885	2,414
Provision for bonuses	194	274
Other	12,710	12,974
Total current liabilities	43,319	39,738
Non-current liabilities
Provision for retirement benefits for directors (and other	49	45
officers)
Provision for special repairs for ships and vessels	6	8
Retirement benefit liability	17,772	17,736
Other	1,165	1,187
Total non-current liabilities	18,993	18,977
Total liabilities		62,312	58,715

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			(Millions of yen)
		As of March 31, 2020	As of June 30, 2020
Net assets
Shareholders' equity
Share capital	31,642	31,642
Capital surplus	26,854	26,854
Retained earnings	301,483	303,213
Treasury shares	(25,217)	(25,217)
Total shareholders' equity	334,761	336,492
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	2,104	3,451
Foreign currency translation adjustment	45	(93)
Remeasurements of defined benefit plans	(1,077)	(1,100)
Total accumulated other comprehensive income	1,073	2,258
Non-controlling interests	1,909	1,936
Total net assets	337,744	340,686
Total liabilities and net assets		400,057	399,402

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2019	June 30, 2020
Operating revenue	70,725	64,676
Operating costs	59,286	54,160
Operating gross profit	11,438	10,516
Selling, general and administrative expenses	4,868	4,728
Operating profit	6,569	5,787
Non-operating income
Interest income	7	7
Dividend income	448	472
Share of profit of entities accounted for using equity method	302	5
Other	69	140
Total non-operating income	828	626
Non-operating expenses
Foreign exchange losses	23	-
Other	12	11
Total non-operating expenses	36	11
Ordinary profit	7,361	6,402
Extraordinary income
Gain on sales of non-current assets	11	10
Gain on sales of investment securities	124	32
Total extraordinary income	136	42
Extraordinary losses
Loss on sales and retirement of non-current assets	26	8
Total extraordinary losses	26	8
Profit before income taxes	7,470	6,437
Income taxes - current	2,417	2,222
Income taxes - deferred	(209)	(251)
Total income taxes	2,208	1,971
Profit	5,262	4,466
Profit attributable to non-controlling interests	20	25
Profit attributable to owners of parent		5,241	4,440

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Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2019	June 30, 2020
Profit	5,262	4,466
Other comprehensive income
Valuation difference on available-for-sale securities	(701)	1,323
Foreign currency translation adjustment	32	(75)
Remeasurements of defined benefit plans, net of tax	39	38
Share of other comprehensive income of entities accounted	(70)	(99)
for using equity method
Total other comprehensive income	(700)	1,187
Comprehensive income	4,561	5,653
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	4,541	5,625
Comprehensive income attributable to non-controlling	19	27
interests

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