Ryobi : Consolidated Financial Results for the Fiscal Year Ended December 31, 2021

Consolidated Financial Results

for the Fiscal Year Ended December 31, 2021 (Japanese GAAP)

February 14, 2022

Company Name: RYOBI LIMITED

Stock Code: 5851

(URL:https://www.ryobi-group.co.jp/)

Stock Exchange Listing: Tokyo

Representative: Akira Urakami, President and CEO

Contact: Hiromu Arihiro, Corporate Officer

Divisional Deputy General Manager of Corporate Planning Division

General Manager of Finance Department

Phone: [phone]

Scheduled date of Ordinary General Meeting of Shareholders : March 29, 2022

Scheduled date to submit the Annual Securities Report : March 29, 2022

Date of scheduled payment of dividend : March 30, 2022

Availability of supplementary briefing material on yearly results : Yes

Presentation Meeting : Yes (for securities analysts / institutional investors)

(Any amount less than one million is disregarded.)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2021 (From January 1, 2021 to December 31, 2021)

(1) Consolidated Results of Operations

(% indicates changes from the previous fiscal year.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

% Millions of yen

%

FY December 2021

198,073

15.9

△1,524

－

4

－

△4,397

－

170,973

△22.5

△1,789

△35

△697

FY December 2020

－

－

－

(Note) Comprehensive income: FY December 31, 2021: 6,131 million yen [－%]

FY December 31, 2020: △2,451 million yen [－%]

Profit per share

Fully diluted profit

Return on equity

Ordinary profit

Operating profit

per share

to total assets ratio

to net sales ratio

Yen

Yen

%

%

%

FY December 2021

△135.87

-

△3.7

0.0

△0.8

-

FY December 2020

△21.54

△0.6

△0.0

△1.0

(Note) Equity in earnings of affiliated companies

FY December 31, 2021 : 59 million yen

FY December 31, 2020 : 71 million yen

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders'

Shareholders'

equity ratio

equity per share

Millions of yen

Millions of yen

%

Yen

As of December 31, 2021

279,422

131,717

44.0

3,797.69

As of December 31, 2020

258,660

125,930

45.3

3,619.16

(Reference) Shareholders' Equity: As of December 31, 2021 : 122,926 million yen As of December 31, 2020 : 117,147 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
			Millions of yen		Millions of yen		Millions of yen		Millions of yen
	FY December 2021	14,900		△12,162		△1,936	27,388
	FY December 2020		11,795		△17,567		9,718		25,405

2. Dividends

		Cash dividends per share		Total dividends	Payout ratio	Dividends to net
	End of 1Q End of 2Q End of 3Q	Year-end	Annual	paid(annual)	(consolidated)	assets (consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
FY December 2020	-	0.00	-	0.00	0.00	-	-	-
FY December 2021	-	10.00	-	10.00	20.00	647	-	0.5
FY December 2022	-	20.00	-	20.00	40.00		34.1
(Forecast)

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2022 (From January 1, 2022 to December 31, 2022)

(% indicates changes from the previous fiscal year for full year, and indicates changes from the previous half for first half.)

			Net sales			Operating profit		Ordinary profit		Profit attributable	Profit per share
							to owners of parent
			Millions of yen	%		Millions of yen			% Millions of yen	%		Millions of yen	%		Yen
	First half	114,800		20.1	1,800		-	1,800		-	1,200	431.6		37.07
	Full year		240,000		21.2		5,300		-		5,400		-		3,800		-		117.40

* As year-on-year (also previous half) percentage changes of ordinary profit would be more than 1,000%, it is indicated as "-".

＊Notes

1. Significant changes of companies during the fiscal year ended December 31, 2021 (changes in specific companies involving changes in the scope of consolidation): Applicable
   New Company: －
   Excluded companies: 1 (Company Name) Ryobi Holdings (USA), Inc.
2. Changes in accounting policies, changes in accounting estimates and restatements
3. 1. Changes in accounting policies due to the revision of accounting standards: Not applicable
   2. Changes in accounting policies other than 1): Not applicable
   3. Changes in accounting estimates: Not applicable
   4. Restatements: Not applicable
4. Shares issued (common stock)

1)	Shares issued	As of December 31, 2021	32,646,143	As of December 31, 2020	32,646,143
	(including treasury stock)
2)	Treasury stock	As of December 31, 2021	277,412	As of December 31, 2020	277,298
3)	Average shares
FY December 31, 2021	32,368,784	FY December 31, 2020	32,368,933
	outstanding during the period

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(Reference) Summary of the Non-consolidated Financial Results

Overview of the Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2021 (From January 1, 2021 to December 31, 2021)

(1) Non-consolidated Results of Operations

Net sales

Operating profit

Ordinary profit

Profit

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

FY December 2021

92,508

20.4

△1,868

－

2,120

149.1

△3,372

－

FY December 2020

76,836

△22.1

△4,522

－

851

△78.7

741

△81.4

Profit per share

Fully diluted profit

per share

Yen

Yen

FY December 2021

△104.18

-

22.91

-

FY December 2020

(2) Non-consolidated Financial Position

			Total assets		Net assets		Shareholders' equity ratio		Shareholders' equity per
									share
			Millions of yen		Millions of yen	%		Yen
	As of December 31, 2021	167,028	71,429	42.8	2,206.73
	As of December 31, 2020		163,394		74,356		45.5		2,297.15
(Reference) Shareholders' Equity	As of December 31, 2021: 71,429 million yen
			As of December 31, 2020: 74,356 million yen

• These consolidated financial results are outside the scope of audit.
• Explanation for the appropriate use of performance forecasts and other special notes: (Cautionary note on forward-looking statement)
  The statements regarding forecast of financial results in this report are based on the information that is available, as well as estimates, assumptions and projections that are believed to be reasonable at the time of publication, and they are not meant to be a commitment by the Company. Therefore, there might be cases in which actual results differ from forecast values.

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Comparative Balance Sheets (Consolidated)

					(Millions of yen)
				2020/12/31	2021/12/31
		Assets
		Current assets
		Cash and deposits		26,566	28,538
		Notes and accounts receivable - trade		40,157	44,327
		Securities		759	740
		Merchandise and finished goods		15,353	19,603
		Work in process		12,320	14,813
		Raw materials and supplies		13,714	18,092
		Other		3,379	3,505
		Allowance for doubtful accounts		△32	△30
		Total current assets		112,218	129,591
		Non-current assets
		Property, plant and equipment
		Buildings and structures, net		32,741	32,793
		Machinery, equipment and vehicles, net		50,334	51,314
		Land		15,964	15,598
		Construction in progress		14,323	11,733
		Other, net		5,595	5,718
		Total property, plant and equipment		118,959	117,158
		Intangible assets
		Other		3,482	3,159
		Total intangible assets		3,482	3,159
		Investments and other assets
		Investment securities		14,396	15,772
		Retirement benefit asset		4,478	6,916
		Deferred tax assets		2,967	3,879
		Other		2,212	3,006
		Allowance for doubtful accounts		△63	△62
		Total investments and other assets		23,991	29,512
		Total non-current assets		146,432	149,830
		Deferred assets
		Bond issuance costs		8	0
		Total deferred assets		8	0
		Total assets		258,660	279,422

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Comparative Balance Sheets (Consolidated)

			(Millions of yen)
		2020/12/31	2021/12/31
	Liabilities
	Current liabilities
	Notes and accounts payable - trade	29,115	41,606
	Short-term borrowings	25,595	36,498
	Current portion of bonds payable	4,600	1,500
	Current portion of long-term borrowings	7,110	13,005
	Income taxes payable	476	636
	Provision for bonuses	390	387
	Other	16,601	17,131
	Total current liabilities	83,890	110,765
	Non-current liabilities
	Bonds payable	1,500	－
	Long-term borrowings	33,670	22,765
	Deferred tax liabilities	2,085	2,948
	Deferred tax liabilities for land revaluation	510	510
	Retirement benefit liability	8,055	7,872
	Other	3,017	2,842
	Total non-current liabilities	48,839	36,939
	Total liabilities	132,730	147,705
	Net assets
	Shareholders' equity
	Share capital	18,472	18,472
	Capital surplus	21,861	21,875
	Retained earnings	76,309	71,587
	Treasury shares	△346	△346
	Total shareholders' equity	116,295	111,588
	Accumulated other comprehensive income

Valuation difference on available-for-sale securities Revaluation reserve for land

Foreign currency translation adjustment

Remeasurements of defined benefit plans

Total accumulated other comprehensive income

Non-controlling interests

Total net assets

Total liabilities and net assets

4,733	5,503
810	811
△3,814	4,288
△877	734

852 11,337

8,782 8,790

125,930 131,717

258,660 279,422

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