Mitsubishi Materials Corporation

Marunouchi Nijubashi Building 22F

3-2-3, Marunouchi, Chiyoda-ku, Tokyo 100-8117 Japan

https://www.mmc.co.jp/corporate/en/

Financial Section

2021

P2 Management's Discussion and Analysis

P4 Consolidated Balance Sheets

P6 Consolidated Statements of Profit or loss

P6 Consolidated Statements of Comprehensive Income

P7 Consolidated Statements of Changes in Net Assets

P9 Consolidated Statements of Cash Flows

P10 Notes to Consolidated Financial Statements

P48 Independent Auditor's Report

P53 Major Consolidated Subsidiaries and Affiliates

Management's Discussion and Analysis

Overview

owners of parent of ¥20.0 billion on the assumption of average

On a non-consolidated basis, the Company forecasts net sales

exchange rates of ¥110/USD and ¥130/EUR and a copper price

of ¥970.0 billion, operating profit of ¥0.5 billion, ordinary profit of

Economic and Business Environment

During the consolidated fiscal year ended March 31, 2021, the global economic activities experienced considerable constraints due to the global spread of COVID-19. In China, the economy appeared to be recovering mildly, but in Thailand and Indonesia, economic downturn continued. In Europe, the economic downturn

mainly due to an increase in investment securities.

Total liabilities increased ¥103.1 billion, or 7.8% from the end of previous period to ¥1,421.1 billion. Total current liabilities increased ¥60.9 billion, or 7.6% from the end of pervious period to ¥858.8 billion mainly due to an increase in notes and accounts payable - trade. Total non-current liabilities increased ¥42.1 billion, or 8.1%

of 345¢/lb.

¥5.0 billion, and profit of ¥7.0 billion.

Overview by Segment

Billions of yen

Millions of U.S. dollars

continued as well, while it saw signs of a recovery in the U.S.

In Japan due to COVID-19, the employment and income environment remained subdued. However, exports and industrial production showed signs of recovery.

Regarding the business environment for the Mitsubishi Materials Group (hereinafter "the Group"), the Group was also affected by the global spread of COVID-19. In addition to hike in metal prices, demand in semiconductors-related sectors remained strong, while demand in automobile-related sectors substantially declined. Moreover, domestic demand for cement declined.

Business Performance Summary

Under such circumstances, the Group has implemented various measures to enhance corporate value, based on Mission and the Group's medium- to long-term goals from the fiscal year ending March 31, 2031 (hereinafter referred to as "FY2031") to FY2051, as well as the Medium-term Management Strategy for FY2021 to FY2023.

from the end of previous period to ¥562.3 billion mainly due to an increase in long-term borrowings. The balance of interest- bearing debts, which adds bonds payable and commercial papers to borrowings increased ¥81.8 billion, or 14.9% from the end of previous period to ¥629.4 billion.

Total net assets increased ¥28.3 billion, or 4.8% from the end of previous period and to ¥614.3 billion mainly due to an increase in retained earnings.

As a result, the consolidated shareholder's equity ratio increased from 26.6% at the end of previous period to 26.8%, and net assets per share based on the total number of shares outstanding as of March 31, 2021 increased from ¥3,870.35 at the end of previous period to ¥4,173.14.

Cash Flows

The cash flows during the consolidated fiscal year ended March 31, 2021 and their causes are as follows:

(Cash flows from operating activities)

For the year ended March 31, 2021 and 2020

2021

2020

Advanced Products

Net sales

¥

357.1

¥

375.3

Operating profit

2.8

3.2

Operating margin

0.8%

0.9%

Metalworking Solutions Business

Net sales

¥

119.3

¥

150.2

Operating profit

(1.1)

7.7

Operating margin

(1.0%)

5.2%

Metals Business

Net sales

¥

728.2

¥

665.0

Operating profit

18.8

18.6

Operating margin

2.6%

2.8%

Cement Business

Net sales

¥

215.8

¥

247.5

Operating profit

6.6

12.2

Operating margin

3.1%

4.9%

Environment & Energy Business

Net sales

¥

26.2

¥

27.0

Operating profit

1.7

1.6

Operating margin

6.8%

6.2%

Other Businesses

Net sales

¥

266.7

¥

285.2

Operating profit

8.8

2.0

Operating margin

3.3%

0.7%

2021

$ 3,225.7

26.1

$ 1,078.4

(10.7)

$ 6,578.3

170.5

$ 1,949.6

60.0

$ 236.9

16.1

$ 2,409.2

79.9

Consequently, consolidated net sales for the fiscal year ended March 31, 2021 totaled ¥1,485.1 billion, down by 2.0% year-on- year. Consolidated operating profit decreased by 30.0% year-

Net cash provided by operating activities totaled ¥78.4 billion (increased by ¥10.8 billion from the previous fiscal year) mainly due to an increase of profit before income taxes as well as an

Total

Net sales

¥

1,485.1

¥

1,516.1

Operating profit

26.5

37.9

Operating margin

1.8%

2.5%

$ 13,414.5

239.9

on-year to ¥26.5 billion, and consolidated ordinary profit fell by 10.2% year-on-year to ¥44.5 billion. Also, Mitsubishi Materials Corporation (hereinafter referred to as the "Company") recorded the extraordinary loss of ¥22.3 billion as loss on business restructuring and the extraordinary income of ¥28.0 billion as gain on sales of investment securities. As a result, profit attributable

increase in notes and accounts payable - trade.

(Cash flows from investing activities)

Net cash used in investing activities totaled ¥101.7 billion (increased by ¥34.8 billion from the previous fiscal year) mainly due to payment for capital expenditure and investment securities.

Note:

U.S. dollar amounts are translated from Japanese yen using the prevailing exchange rate at March 31, 2021, which was ¥110.71 to U.S.$1.

Capital Expenditures

to owners of parent was ¥24.4 billion (compared to loss of ¥72.8 billion in the previous fiscal year).

Financial Position and Liquidity

As of March 31, 2021, total assets increased ¥131.4 billion, or 6.9% from the end of previous period to ¥2,035.5 billion. Total current assets increased ¥84.4 billion, or 8.8% from the end of previous period to ¥1,039.8 billion mainly due to an increase in leased gold bullion. Total non-current assets increased ¥47.0 billion, or 5.0% from the end of previous period to ¥995.6 billion

(Cash flows from financing activities)

Net cash provided by financing activities totaled ¥41.5 billion (increased by ¥12.6 billion from the previous fiscal year) mainly due to proceeds from long-term borrowings.

After factoring in the impact of exchange rate fluctuation, cash and cash equivalents at the end of this consolidated fiscal year amounted to ¥147.5 billion (increased by ¥20.2 billion from the previous fiscal year end).

The Group determines capital expenditure allocations by carefully selecting investment projects in areas where future earnings and growth are expected while striving to reduce interest-bearing debt.

In the consolidated fiscal year ended March 31, 2021, total capital expenditures amounted to ¥81.5 billion, which consisted mainly of maintenance and repairs of existing facilities in each business, as well as the enhancement and streamlining of production facilities. Capital expenditures by business segment are as follows:

Advanced Products

Metals Business

The Group carried out maintenance and repair work at copper smelting and processing facilities. Capital expenditures in this business segment amounted to ¥18.3 billion.

Cement Business

In addition to the introduction of a fully automated analysis system and the reinforcement work of industrial waste disposal facilities at the Kyushu Plant (Kanda area), a large-scale apparatus for suppressing dust generation was introduced at the Higashitani Mine as an environmental measure. Additionally, the Group carried out maintenance and repair work at existing facilities mainly in

Forecast for Fiscal Year 2022

In addition to maintenance and repair work on existing facilities in this business as a whole, the Group carried out work to strengthen the production facilities in the Copper & copper alloy

Japan and the U.S. Capital expenditures in this business segment amounted to ¥17.9 billion.

Regarding the global economy going forward, it is expected that the economic activities continue to be materially restricted until the global spread of COVID-19 infection subsides. It is anticipated that the economy will continue to recover in China and the U.S. while the impact of COVID-19 is expected to continue in Europe.

Regarding the domestic economy, while there are concerns that the employment and income environment may continue to be sluggish because of the impact from COVID-19, exports and industrial production are expected to continue to pick up.

With regards to the business environment surrounding the Group in the future, there are concerns that the impact of the global spread of COVID-19 may continue, while it is anticipated that the solid demand for semiconductor-related products will continue and the demand for automobile related business will recover.

Under these circumstances, for the fiscal year ending March 31, 2022, our consolidated operating performance forecasts predict net sales of ¥1,620.0 billion, operating profit of ¥35.0 billion, ordinary income of ¥37.0 billion, and net income attributable to

products business, etc. Capital expenditures in this business segment amounted to ¥16.3 billion.

Metalworking Solutions Business

The Group carried out reinforcement and streamlining work in order to response the increased production in this business as a whole, as well as maintenance and repair work at existing facilities. Capital expenditures in this business segment amounted to ¥9.5 billion.

Environment & Energy Business

In addition to the construction of a new Komatagawa hydroelectric power plant, the Company carried out maintenance and repair works at its existing facilities. Capital expenditures in this business segment amounted to ¥4.7 billion.

Other Businesses

The Group carried out maintenance and repair work at existing facilities. Capital expenditures in the Other Businesses segment amounted to ¥14.5 billion.

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Consolidated Balance Sheets

Mitsubishi Materials Corporation and Consolidated Subsidiaries

As of March 31, 2021 and 2020

Millions of yen

Thousands of U.S. dollars

Millions of yen

Thousands of U.S. dollars

(Note 1)

(Note 1)

2021

2020

2021

2021

2020

2021

Assets

Liabilities

Current assets:

Current Liabilities:

Cash and deposits

¥

(*7)

153,086

¥

(*7)

134,444

$

1,382,772

Notes and accounts payable - trade

¥

(*7)

153,603

¥

(*7)

113,148

$

1,387,442

Notes and accounts receivable - trade

(*7)

220,522

(*7)

217,259

1,991,895

Short-term borrowings

(*7)

175,686

(*7)

191,038

1,586,908

Merchandise and finished goods

(*7)

117,498

(*7)

111,409

1,061,316

Current portion of bonds payable

20,000

-

180,652

Work in process

(*7)

126,357

(*7)

112,908

1,141,340

Commercial papers

40,000

50,000

361,304

Raw materials and supplies

(*7)

136,019

(*7)

127,908

1,228,609

Income taxes payable

6,781

10,221

61,255

Leased gold bullion

(*9)

156,254

(*9)

95,557

1,411,389

Provision for bonuses

12,852

12,944

116,093

Other

133,258

158,444

1,203,671

Provision for loss on disposal of inventories

756

670

6,832

Allowance for doubtful accounts

(3,103)

(2,470)

(28,034)

Provision for product compensation

578

809

5,223

294,312

Total current assets

1,039,894

955,462

9,392,960

Deposited gold bullion

(*9)

323,505

(*9)

2,922,100

Other

125,072

124,746

1,129,734

Non-current assets:

Property, plant and equipment:

Total current liabilities

858,838

797,892

7,757,547

Buildings and structures, net

155,868

158,343

1,430,259

Non-current liabilities:

Machinery, equipment and vehicles, net

241,391

233,923

2,180,397

Bonds payable

40,000

60,000

361,304

Land, net

(*8)

209,707

(*8)

216,487

1,894,209

Long-term borrowings

(*7)

353,795

(*7)

246,578

3,195,698

Construction in progress

33,864

29,298

305,887

Deferred tax liabilities

36,162

26,667

326,642

Other, net

22,093

23,720

199,565

Deferred tax liabilities for land revaluation

(*8)

21,094

(*8)

21,514

190,534

Total property, plant and equipment, net

(*1), (*3), (*7) 665,402

(*1), (*3), (*7)

659,298

6,010,318

Provision for loss on business of subsidiaries and affiliates

2,525

4,014

22,807

Provision for loss on business restructuring

30,272

Intangible assets:

-

-

Goodwill

31,670

35,586

286,070

Provision for environmental measures

26,555

32,581

239,862

Other

14,760

15,906

133,324

Provision for product compensation

-

392

-

Total intangible assets

46,431

51,492

419,394

Provision for directors' retirement benefits

1,677

1,710

15,154

Provision for share based compensation plan

-

Investments and other assets:

220

1,990

Investment securities

(*2), (*7)

217,477

(*2), (*7)

183,043

1,964,388

Retirement benefit liability

42,249

56,312

381,624

Retirement benefit asset

4,934

3,211

44,574

Other

38,033

40,078

343,538

Deferred tax assets

15,572

14,801

133,692

Total non-current liabilities

562,313

520,123

5,079,156

Other

40,081

(*2)

50,996

(*2)

460,635

Total liabilities

1,421,151

1,318,016

12,836,704

Allowance for doubtful accounts

(4,392)

(4,112)

(39,672)

Net assets

Total investments and other assets

283,818

237,796

2,563,618

Shareholders' equity:

Total non-current assets

995,651

948,588

8,993,332

Share capital

119,457

119,457

1,079,016

Total assets

¥

2,035,546

¥

1,904,050

$

18,386,292

Capital surplus

79,439

92,393

717,543

Retained earnings

294,814

274,723

2,662,940

Treasury shares

(2,868)

(2,157)

(25,906)

Total shareholders' equity

490,843

484,416

4,433,594

Accumulated other comprehensive income:

Valuation difference on available-for-sale securities

42,940

22,806

387,862

Deferred gains or losses on hedges

(1,119)

708

(10,109)

Revaluation reserve for land

(*8)

27,097

(*8)

28,059

244,760

Foreign currency translation adjustment

(8,057)

(12,212)

(72,777)

Remeasurements of defined benefit plans

(6,470)

(16,997)

(58,449)

Total accumulated other comprehensive income

54,390

22,364

491,286

Non-controlling interests

69,161

79,252

624,707

Total net assets

614,394

586,034

5,549,588

Total liabilities and net assets

¥

2,035,546

¥

1,904,050

$

18,386,292

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Consolidated Statements of Profit or Loss

Mitsubishi Materials Corporation and Consolidated Subsidiaries

For the years ended March 31, 2021 and 2020

Millions of yen

2021

2020

Net sales

¥

1,485,121

¥

1,516,100

Cost of sales

(*1), (*2)1,312,771

(*1), (*2)1,325,438

Gross profit

172,349

190,662

Selling, general and administrative expenses

(*3), (*4)

145,781

(*3), (*4)

152,709

Operating profit

26,567

37,952

Non-operating income:

Interest income

843

1,302

Dividend income

17,585

18,403

Rental income from non-current assets

4,895

5,110

Share of profit of entities accounted for using equity method

4,692

3,521

Other

10,260

3,023

Total non-operating income

38,278

31,362

Non-operating expenses:

Interest expenses

4,416

4,858

Expense for the maintenance and management of abandoned mines

3,782

4,018

Rental expenses on non-current assets

3,134

3,066

Loss on retirement of non-current assets

2,674

2,346

Foreign exchange losses

-

2,073

Other

6,309

3,340

Total non-operating expenses

20,318

19,704

Ordinary profit

44,527

49,610

Extraordinary income:

Gain on sales of investment securities

28,066

14,535

Other

810

2,026

Total extraordinary income

28,876

16,562

Extraordinary losses:

Loss on business restructuring

(*8)

22,370

-

Impairment loss

(*5)

3,532

(*5)

55,095

Provision for loss on business restructuring

-

(*6)

30,272

Loss on the Antimonopoly Act

-

(*7)

10,423

Other

4,160

10,881

Total extraordinary losses

30,063

106,671

Profit (loss) before income taxes

43,341

(40,498)

Income taxes - current

13,944

18,248

Income taxes - deferred

(1,379)

10,561

Total income taxes

12,564

28,810

Profit (loss)

30,777

(69,308)

Profit (loss) attributable to non-controlling interests

6,369

3,541

Profit (loss) attributable to owners of parent

¥

24,407

¥

(72,850)

Thousands of U.S. dollars

(Note 1)

2021

$ 13,414,516

11,857,749

1,556,767

1,316,790

239,977

7,623

158,844

44,218

42,387

92,681

345,755

39,895

34,167

28,314

24,157

-

56,993

183,529

402,202

253,513

7,320

260,834

202,061

31,907

-

-

37,580

271,549

391,487

125,953

(12,463)

113,490

277,996

57,536

$ 220,460

Consolidated Statements of Changes in Net Assets

Mitsubishi Materials Corporation and Consolidated Subsidiaries

For the years ended March 31, 2021 and 2020

Millions of yen

Shareholders' equity

Total

shareholders'

Share capital

Capital surplus

Retained earnings

Treasury shares

equity

Balance as of March 31, 2019

¥

119,457

¥

92,393

¥

352,932

¥

(2,123)

¥

562,659

Changes during period:

Cash dividends

(10,476)

(10,476)

Loss attributable to owners of parent

(72,850)

(72,850)

Reversal of revaluation reserve for land

4,963

4,963

Increase due to increase in the number of consolidated subsidiaries

153

153

Decrease due to increase in the number of consolidated subsidiaries

-

Purchase of treasury shares

(34)

(34)

Disposal of treasury shares

(0)

0

0

Changes in ownership interest of parent due to transaction

(0)

(0)

with non-controlling interests

Net changes in items other than shareholders' equity

Total changes during period

-

(0)

(78,208)

(33)

(78,242)

Balance as of March 31, 2020

¥

119,457

¥

92,393

¥

274,723

¥

(2,157)

¥

484,416

Changes during period:

Cash dividends

(5,237)

(5,237)

Profit attributable to owners of parent

24,407

24,407

Reversal of revaluation reserve for land

962

962

Increase due to increase in the number of consolidated subsidiaries

-

Decrease due to increase in the number of consolidated subsidiaries

(41)

(41)

Purchase of treasury shares

(713)

(713)

Disposal of treasury shares

(1)

3

2

Changes in ownership interest of parent due to transaction

(12,952)

(12,952)

with non-controlling interests

Net changes in items other than shareholders' equity

Total changes during period

-

(12,954)

20,090

(710)

6,426

Balance as of March 31, 2021

¥

119,457

¥

79,439

¥

294,814

¥

(2,868)

¥

490,843

Millions of yen

Accumulated other comprehensive income

Valuation

Total accumulated

difference on

Deferred gains

Foreign currency Remeasurements

other

available-for-sale

or losses on

Revaluation

translation

of defined

comprehensive

Non-controlling

securities

hedges

reserve for land

adjustment

benefit plans

income

interests

Total net assets

Balance as of March 31, 2019

¥ 51,220

¥

124

¥

33,023

¥

(5,828)

¥

(7,617)

¥ 70,922

¥ 89,754

¥ 723,337

Changes during period:

Cash dividends

(10,476)

Loss attributable to owners of parent

(72,850)

Reversal of revaluation reserve for land

4,963

Increase due to increase in the number

153

of consolidated subsidiaries

Decrease due to increase in the number of

-

consolidated subsidiaries

Purchase of treasury shares

(34)

Consolidated Statements of Comprehensive Income

Mitsubishi Materials Corporation and Consolidated Subsidiaries

For the years ended March 31, 2021 and 2020

Millions of yen

Thousands of U.S. dollars

(Note 1)

Disposal of treasury shares

0

Changes in ownership interest of parent

(0)

due to transaction with non-controlling interests

Net changes in items other than shareholders' equity

(28,413)

583

(4,963)

(6,383)

(9,379)

(48,557)

(10,502)

(59,060)

Total changes during period

(28,413)

583

(4,963)

(6,383)

(9,379)

(48,557)

(10,502)

(137,302)

Balance as of March 31, 2020

¥ 22,806 ¥

708

¥

28,059

¥ (12,212)

(16,997)

¥

22,364 ¥

79,252

¥ 586,034

Changes during period:

2021

2020

Profit (loss)

¥

30,777

¥

(69,308)

Other comprehensive income:

Valuation difference on available-for-sale securities

19,613

(28,544)

Deferred gains or losses on hedges

(2,843)

1,520

Foreign currency translation adjustment

5,758

(7,700)

Remeasurements of defined benefit plans

10,369

(9,263)

Share of other comprehensive income of entities accounted

1,152

(729)

for using equity method

Total other comprehensive income

(*)

34,050

(*) (44,718)

Comprehensive income

¥

64,827

¥

(114,027)

(Break down)

Comprehensive income attributable to:

Owners of parent

57,567

(116,068)

Non-controlling interests

7,259

2,040

2021

$ 277,996

177,158

(25,684)

52,010

93,667

10,412

307,565

$ 585,561

519,986

65,575

Cash dividends

(5,237)

Profit attributable to owners of parent

24,407

Reversal of revaluation reserve for land

962

Increase due to increase in the number

-

of consolidated subsidiaries

Decrease due to increase in the number

(41)

of consolidated subsidiaries

Purchase of treasury shares

(713)

Disposal of treasury shares

2

Changes in ownership interest of parent

(12,952)

due to transaction with non-controlling interests

Net changes in items other than shareholders' equity

20,133

(1,827)

(962)

4,155

10,526

32,025

(10,091)

21,934

Total changes during period

20,133

(1,827)

(962)

4,155

10,526

32,025

(10,091)

28,360

Balance as of March 31, 2021

¥ 42,940 ¥

(1,119) ¥

27,097 ¥

(8,057) ¥

(6,470) ¥

54,390

¥ 69,161

¥ 614,394

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Thousands of U.S. dollars (Note 1)

Shareholders' equity

Total

Retained

shareholders'

Share capital

Capital surplus

earnings

Treasury shares

equity

Balance as of March 31, 2020

$ 1,079,016

$

834,553

$ 2,481,467

$

(19,489)

$ 4,375,547

Changes during period:

Cash dividends

(47,309)

(47,309)

Profit attributable to owners of parent

220,460

220,460

Reversal of revaluation reserve for land

8,693

8,693

Increase due to increase in the number of consolidated subsidiaries

-

Decrease due to increase in the number of consolidated subsidiaries

(370)

(370)

Purchase of treasury shares

(6,448)

(6,448)

Disposal of treasury shares

(12)

31

18

Changes in ownership interest of parent due to transaction

(116,997)

(116,997)

with non-controlling interests

Net changes in items other than shareholders' equity

Total changes during period

-

(117,009)

181,473

(6,417)

58,046

Balance as of March 31, 2021

$ 1,079,016

$

717,543

$ 2,662,940

$

(25,906)

$ 4,433,594

Thousands of U.S. dollars (Note 1)

Accumulated other comprehensive income

Valuation

Total accumulated

difference on

Deferred gains

Foreign currency Remeasurements

other

available-for-sale

or losses on

Revaluation

translation

of defined

comprehensive

Non-controlling

securities

hedges

reserve for land

adjustment

benefit plans

income

interests

Total net assets

Balance as of March 31, 2020

$

206,004

$

6,395

$

253,452

$

(110,310)

$

(153,529)

$

202,012

$

715,858

$

5,293,418

Changes during period:

Cash dividends

(47,309)

Profit attributable to owners of parent

220,460

Reversal of revaluation reserve for land

8,693

Increase due to increase in the number

-

of consolidated subsidiaries

Decrease due to increase in the number

(370)

of consolidated subsidiaries

Purchase of treasury shares

(6,448)

Disposal of treasury shares

18

Changes in ownership interest of parent

(116,997)

due to transaction with non-controlling interests

Net changes in items other than shareholders' equity

181,857

(16,504)

(8,691)

37,533

95,080

289,274

(91,150)

198,123

Total changes during period

181,857

(16,504)

(8,691)

37,533

95,080

289,274

(91,150)

256,169

Balance as of March 31, 2021

$

387,862

$

(10,109)

$

244,760

$

(72,777)

$

(58,449)

$

491,286

$

624,707

$

5,549,588

Consolidated Statements of Cash Flows

Mitsubishi Materials Corporation and Consolidated Subsidiaries

For the years ended March 31, 2021 and 2020

Thousands of U.S.

Millions of yen

dollars

(Note 1)

2021

2020

2021

Cash flows from operating activities:

Profit (loss) before income taxes

¥

43,341

¥

(40,498)

$

391,487

Depreciation

61,962

64,208

559,687

Amortization of goodwill

4,374

4,449

39,517

Increase (decrease) in allowance for doubtful accounts

857

(346)

7,743

Increase (decrease) in provision for loss on business of subsidiaries and affiliates

(1,489)

3,209

(13,451)

Increase (decrease) in provision for product compensation

(623)

(1,273)

(5,635)

Increase (decrease) in provision for environmental measures

(6,026)

(7,845)

(54,437)

Increase (decrease) in provision for loss on business restructuring

-

30,272

-

Increase (decrease) in retirement benefit liability and provision for directors' retirement benefits

(777)

(2,232)

(7,020)

Interest and dividend income

(18,429)

(19,706)

(166,467)

Interest expenses

4,416

4,858

39,895

Share of loss (profit) of entities accounted for using equity method

(4,692)

(3,521)

(42,387)

Loss (gain) on sales of property, plant and equipment

(235)

(598)

(2,129)

Loss on retirement of non-current assets

2,674

2,507

24,157

Impairment loss

3,532

55,095

31,907

Loss on business restructuring

22,370

-

202,061

Loss on the Antimonopoly Act

-

10,423

-

Loss (gain) on sales of investment securities

(26,097)

(13,086)

(235,732)

Loss (gain) on valuation of investment securities

321

4,830

2,906

Decrease (increase) in notes and accounts receivable - trade

(7,483)

28,876

(67,592)

Decrease (increase) in inventories

(28,007)

(18,698)

(252,983)

Proceeds from sales of gold bullion

106,419

99,984

961,245

Payment for purchase of gold bullion

(106,176)

(99,736)

(959,051)

Decrease (increase) in other current assets

(5,960)

(871)

(53,840)

Increase (decrease) in notes and accounts payable - trade

38,918

(31,249)

351,535

Increase (decrease) in accrued expenses

6,316

(5,693)

57,051

Increase (decrease) in other current liabilities

1,972

8,650

17,817

Increase (decrease) in other non-current liabilities

(288)

(81)

(2,603)

Other, net

(3,134)

(6,730)

(28,313)

Sub-total

88,055

65,191

795,366

Interest and dividend received

20,399

22,597

184,260

Interest paid

(4,413)

(4,861)

(39,866)

Income taxes (paid) refund

(15,175)

(15,381)

(137,072)

Payment for Loss on the Antimonopoly Act

(10,423)

-

(94,146)

Net cash provided by (used in) operating activities

78,442

67,545

708,541

Cash flows from investing activities:

Payment for purchase of property, plant and equipment

(76,825)

(89,599)

(693,933)

Proceeds from sales of property, plant and equipment

1,127

2,099

10,184

Payment for purchase of intangible assets

(1,902)

(1,585)

(17,187)

Payment for purchase of investment securities

(40,889)

(47)

(369,340)

Proceeds from sales of investment securities

65,731

23,827

593,722

Payment for purchase of subsidiaries' shares

(1,158)

(1,657)

(10,467)

Proceeds from sales of subsidiaries' shares

-

25

-

Proceeds from liquidation of subsidiaries

-

0

-

Payment for sales of subsidiaries' shares resulting in change in scope of consolidation

(*2) (44,795)

-

(404,623)

Proceeds from sales of subsidiaries' shares resulting in change in scope of consolidation

161

68

1,462

Proceeds from transfer of businesses

583

1,527

5,271

Payment for loans

(3,865)

(4,330)

(34,915)

Proceeds from collection of loans

524

484

4,734

Other, net

(453)

2,289

(4,096)

Net cash provided by (used in) investing activities

(101,763)

(66,898)

(919,189)

Cash flows from financing activities:

Net increase (decrease) in short-term borrowings

(3,828)

9,013

(34,584)

Proceeds from long-term borrowings

139,184

32,578

1,257,194

Repayment of long-term borrowings

(45,084)

(42,078)

(407,229)

Proceeds from issuance of bonds

-

10,000

-

Net increase (decrease) in commercial papers

(10,000)

45,000

(90,326)

Payment for purchase of treasury shares

(714)

(34)

(6,450)

Cash dividends paid

(5,237)

(10,476)

(47,309)

Cash dividends paid to non-controlling interests

(5,611)

(12,829)

(50,683)

Payment for purchase of subsidiaries' shares not resulting in change in scope of consolidation

(24,925)

-

(225,141)

Other, net

(2,267)

(2,300)

(20,485)

Net cash provided by (used in) financing activities

41,514

28,873

374,983

Effect of exchange rate changes on cash and cash equivalents

1,010

(1,960)

9,124

Net increase (decrease) in cash and cash equivalents

19,203

27,559

173,460

Cash and cash equivalents at beginning of period

127,284

99,672

1,149,707

Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation

1,045

52

9,444

Cash and cash equivalents at end of period

¥

(*1) 147,533

¥ (*1)

127,284

$

1,332,612

8

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Mitsubishi Materials Corporation published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 08:15:08 UTC.