Kamigumi : Summary of Consolidated Financial Results for the Year Ended March 31, 2021

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 Year Ended March 31, 2021

(Based on Japanese GAAP)

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
Div.
Scheduled date of ordinary general meeting of shareholders:	June 29, 2021
Scheduled date to file Securities Report:	June 30, 2021
Scheduled date to commence dividend payments:	June 30, 2021
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:		No

May 14, 2021

TEL [phone]

											(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Consolidated operating results													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		%
Year ended March 31, 2021	268,290			(3.8)	24,449		(0.9)		26,184	(0.8)		17,932		(2.4)
Year ended March 31, 2020	278,815			1.4	24,679		5.8		26,407	4.6			18,378		(0.1)
	Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total		Operating
			share			owners of				assets			profit/operating
									parent/equity						revenue
		Yen			Yen				%						%					%
Year ended March 31, 2021		152.97			-				5.2						6.4					9.1
Year ended March 31, 2020		155.06			-				5.5						6.6					8.9
(2) Consolidated financial position
	Total assets			Net assets	Equity ratio	Net assets per share
	Millions of yen	Millions of yen					%							Yen
As of March 31, 2021			415,539				352,408					84.3					3,017.22
As of March 31, 2020			400,057				337,744					83.9					2,849.94
(3) Consolidated cash flows
	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities			at end of period
	Millions of yen	Millions of yen	Millions of yen			Millions of yen
Year ended March 31, 2021			29,561				(30,252)					(8,630)				22,780
Year ended March 31, 2020			33,701				(44,490)					(9,342)				32,137
2. Cash dividends
						Annual dividends per share						Total cash		Dividend payout	Ratio of dividends
																to net assets
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
	Yen					Yen	Yen			Yen	Yen	Millions of yen			%			%
Year ended March 31, 2020	-				23.00	-		23.00	46.00		5,464			29.7			1.6
Year ended March 31, 2021	-				23.00	-		27.00	50.00		5,846			32.7			1.7
Year ending March 31, 2022	-				27.00	-			27.00	54.00					34.1
(Forecast)

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3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

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
121,200	-	11,500		-	12,300		-		8,500		-	73.18
September 30, 2021
Full year	247,000	-	25,000		-	26,700		-		18,400		-	158.40
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2021			No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) 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

(3) Number of issued shares (common shares)

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

	As of March 31, 2021	129,066,837	shares	As of March 31, 2020	130,936,837	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	12,907,087	shares	As of March 31, 2020	13,097,592	shares
Average number of shares during the period
	Year ended March 31, 2021	117,228,974	shares	Year ended March 31, 2020	118,521,107	shares

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Consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	32,233	33,376
Trade notes and accounts receivable	44,482	46,916
Electronically recorded monetary claims - operating	636	603
Securities	-	10,700
Inventories	957	783
Other	6,150	5,891
Allowance for doubtful accounts	(54)	(56)
Total current assets	84,405	98,214
Non-current assets
Property, plant and equipment
Buildings and structures, net	109,515	105,822
Machinery, equipment and vehicles, net	16,171	15,387
Land	97,678	99,867
Construction in progress	3,313	4,963
Other, net	1,152	1,527
Total property, plant and equipment	227,830	227,568
Intangible assets	6,881	6,789
Investments and other assets
Investment securities	68,376	72,244
Long-term loans receivable	269	158
Deferred tax assets	5,247	3,700
Other	7,383	7,184
Allowance for doubtful accounts	(336)	(321)
Total investments and other assets	80,939	82,966
Total non-current assets	315,651	317,324
Total assets		400,057	415,539

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			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Liabilities
Current liabilities
Trade notes and accounts payable	25,528	26,066
Income taxes payable	4,885	4,958
Provision for bonuses	194	172
Provision for loss on disaster	-	450
Other	12,710	11,831
Total current liabilities	43,319	43,479
Non-current liabilities
Deferred tax liabilities	146	346
Provision for retirement benefits for directors (and other	49	54
officers)
Provision for special repairs for ships and vessels	6	13
Retirement benefit liability	17,772	18,166
Other	1,018	1,070
Total non-current liabilities	18,993	19,651
Total liabilities	62,312	63,130
Net assets
Shareholders' equity
Share capital	31,642	31,642
Capital surplus	26,854	26,854
Retained earnings	301,483	310,401
Treasury shares	(25,217)	(24,810)
Total shareholders' equity	334,761	344,087
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	2,104	7,252
Foreign currency translation adjustment	45	(27)
Remeasurements of defined benefit plans	(1,077)	(833)
Total accumulated other comprehensive income	1,073	6,392
Non-controlling interests	1,909	1,929
Total net assets	337,744	352,408
Total liabilities and net assets		400,057	415,539

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

			(Millions of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Operating revenue	278,815	268,290
Operating costs	235,056	225,064
Operating gross profit	43,758	43,225
Selling, general and administrative expenses	19,079	18,775
Operating profit	24,679	24,449
Non-operating income
Interest income	34	36
Dividend income	751	758
Share of profit of entities accounted for using equity method	709	442
Other	324	550
Total non-operating income	1,820	1,787
Non-operating expenses
Foreign exchange losses	15	17
Provision of allowance for doubtful accounts	15	-
Other	61	35
Total non-operating expenses	92	53
Ordinary profit	26,407	26,184
Extraordinary income
Gain on sale of non-current assets	68	49
Gain on sale of investment securities	239	580
Total extraordinary income	307	629
Extraordinary losses
Loss on sale and retirement of non-current assets	100	338
Loss on valuation of investment securities	4	100
Loss on valuation of shares of subsidiaries and associates	39	-
Loss on disaster	-	482
Total extraordinary losses	144	921
Profit before income taxes	26,570	25,892
Income taxes - current	8,473	8,358
Income taxes - deferred	(381)	(420)
Total income taxes	8,092	7,937
Profit	18,477	17,954
Profit attributable to non-controlling interests	99	22
Profit attributable to owners of parent		18,378	17,932

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