Kokusai Pulp&Paper : (Amendment) Notice Regarding the Amendment of “Financial Results for the Fiscal Year Ended March 31, 2022 (Consolidated)”

June 29, 2022

Company name: Kokusai Pulp & Paper Co., Ltd. Representative: Tadashi Kurihara, Director of the Board, President & Executive Officer Code number: 9274

Contact: Tatsuhiko Tachibana, Managing Executive Officer and General Manager of Administration Division Phone: [phone]

(Amendment) Notice Regarding the Amendment of "Financial Results for the Fiscal Year

Ended March 31, 2022 [Japanese GAAP] (Consolidated)"

Kokusai Pulp & Paper Co., Ltd. announced that there have been revisions to the Financial Results for the Fiscal Year Ended March 31, 2022 [Japanese GAAP] (Consolidated), released on May 13, 2022.The revisions are as follows. The rivised parts are underlined.

１．Reason for amendments

After submitting the Financial Results for the Fiscal Year Ended March 31, 2022 [Japanese GAAP] (Consolidated), The Company shall make corrections to the Consolidated Statement of Cash Flows due to some errors in the reclassification of items.

There is no impact on the Consolidated Balance Sheet and Consolidated Statement of Income.

２．Details of amendments [Summary page 1]

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)

(3) Consolidated Cash Flows

(Before amendment)

(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 at end of
	activities	activities	activities	period
	Million yen	Million yen	Million yen	Million yen
Fiscal year ended	3,828	(2,678)	(10,810)	22,631
March 31, 2022
Fiscal year ended	(6,472)	23,046	6,597	30,543
March 31, 2021

(After amendment)

(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 at end of
	activities	activities	activities	period
	Million yen	Million yen	Million yen	Million yen
Fiscal year ended	4,821	(2,678)	(11,803)	22,631
March 31, 2022
Fiscal year ended	(6,472)	23,046	6,597	30,543
March 31, 2021

[Attachments page 3]

1. Overview of Operating Results, etc.

(3) Overview of Cash Flows for the Current Fiscal Year

(Before amendment)

(3) Overview of Cash Flows for the Current Fiscal Year

Cash and cash equivalents at the end of the fiscal year under review (hereinafter referred to as "funds") were 22,631 million yen, down 7,912 million yen from the end of the previous fiscal year. This was mainly a result of appropriation of funds provided by profit before income taxes to purchase of non-current assets and decreased short-term borrowings.

Funds provided by operating activities totaled 3,828million yen (compared with funds used in operating activities of 6,472 million yen for the previous fiscal year). This was mainly due to the acquisition of profit before income taxes and an increase in trade payables.

Funds used in investing activities totaled 2,678 million yen (compared with funds provided by investing activities of 23,046 million yen for the previous fiscal year). This was mainly due to purchase of non-current assets.

Funds used in financing activities totaled 10,801million yen (compared with funds provided by financing activities of 6,597 million yen for the previous fiscal year). This was mainly due to a decrease in short-term borrowings.

(After amendment)

(3) Overview of Cash Flows for the Current Fiscal Year

Cash and cash equivalents at the end of the fiscal year under review (hereinafter referred to as "funds") were 22,631 million yen, down 7,912 million yen from the end of the previous fiscal year. This was mainly a result of appropriation of funds provided by profit before income taxes to purchase of non-current assets and decreased short-term borrowings.

Funds provided by operating activities totaled 4,821million yen (compared with funds used in operating activities of 6,472 million yen for the previous fiscal year). This was mainly due to the acquisition of profit before income taxes and an increase in trade payables.

Funds used in investing activities totaled 2,678 million yen (compared with funds provided by investing activities of 23,046 million yen for the previous fiscal year). This was mainly due to purchase of non-current assets.

Funds used in financing activities totaled 11,803million yen (compared with funds provided by financing activities of 6,597 million yen for the previous fiscal year). This was mainly due to a decrease in short-term borrowings.

[Attachments page 13]

3. Consolidated Financial Statements and Key Notes

(4) Consolidated Statement of Cash Flows

(Before amendment)

(4) Consolidated Statement of Cash Flows
		(Million yen)
	Previous fiscal year	Current fiscal year
	(From April 1, 2020 to	(From April 1, 2021 to
	March 31, 2021)	March 31, 2022)
Cash flows from operating activities
（omitted）
Decrease (increase) in other assets	(892)	(4,145)
（omitted）
Increase (decrease) in other liabilities	(2,754)	2,267
Other	(1,120)	(854)
Subtotal	(4,846)	14,447
（omitted）
Income taxes paid	(1,096)	(9,390)
Net cash provided by (used in) operating activities	(6,472)	3,828
（omitted）
Cash flows from financing activities
（omitted）
Proceeds from long-term borrowings	2,327	29,079
Repayments of long-term borrowings	(687)	(650)
（omitted）
Proceeds from share issuance to non-controlling	(1,223)	－
shareholders
（omitted）
Net cash provided by (used in) financing activities	6,597	(10,810)
（omitted）

(After amendment)

(4) Consolidated Statement of Cash Flows
		(Million yen)
	Previous fiscal year	Current fiscal year
	(From April 1, 2020 to	(From April 1, 2021 to
	March 31, 2021)	March 31, 2022)
Cash flows from operating activities
（omitted）
Decrease (increase) in other assets	(892)	(3,585)
（omitted）
Increase (decrease) in other liabilities	(2,754)	3,561
Other	(1,120)	(1,154)
Subtotal	(4,846)	16,001
（omitted）
Income taxes paid	(1,096)	(9,950)
Net cash provided by (used in) operating activities	(6,472)	4,821
（omitted）
Cash flows from financing activities
（omitted）
Proceeds from long-term borrowings	2,327	28,310
Repayments of long-term borrowings	(687)	(874)
（omitted）
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of	(1,223)	－
consolidation
（omitted）
Net cash provided by (used in) financing activities	6,597	(11,803)
（omitted）

End