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 February 28, 2022

(Based on Japanese GAAP)

Shinji Oe

Tatsuji Tsuchida

Scheduled date of ordinary general meeting of shareholders:

May 27, 2022

Scheduled date to file Securities Report:

May 27, 2022

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes (for the press)

Company name:

SANYO SHOKAI LTD.

Stock exchange listing:

Tokyo

Stock code:

8011 URLhttps://www.sanyo-shokai.co.jp/

Representative Director,President & Chief

Representative:

Inquiries:

Operating Officer

General Manager of Accounting Department,Accounting & Finance Headquarters

TEL 03-6380-5346

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended February 28, 2022 (from March 1, 2021 to February 28, 2022)

(1) Consolidated operating results

April 14, 2022

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Year ended February 28, 2022

Year ended February 28, 2021

Millions of yen 38,642 37,939

% 1.9

-

Millions of yen

(1,058) (8,913)

% - -

Millions of yen

(735) (9,036)

% - -

Millions of yen 661 (4,988)

% - -

Earnings per share

Diluted earnings per share

Profit attributable to owners of parent/equity

Ordinary profit/total assets

Operating profit/net sales

Year ended February 28, 2022

Year ended February 28, 2021

Yen 54.59 (412.07)

Yen 54.13 -

% 2.0 (13.8)

% (1.4) (15.7)

% (2.7) (23.5)

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

As of February 28, 2022

As of February 28, 2021

Millions of yen 51,629 52,926

Millions of yen 33,920 33,462

% 65.4 63.2

Yen 2,782.64 2,763.27

(3) Consolidated cash flows

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Cash and cash equivalents at end of period

Year ended February 28, 2022

Year ended February 28, 2021

Millions of yen

(1,638) (5,656)

Millions of yen

(1,356) 15,761

Millions of yen 527 (4,276)

Millions of yen 16,287 18,781

2. Cash dividends

Annual dividends per share

Total cash dividends (Total)

Dividend payout ratio (Consolidated)

Ratio of dividends to net assets (Consolidated)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Year ended February 28, 2021

Year ended February 28, 2022

Yen - -

Yen 0.00 0.00

Yen - -

Yen 0.00 0.00

Yen 0.00 0.00

Millions of yen - -

% - -

% - -

Year ending February 28, 2023 (Forecast)

-

0.00

-

40.00

40.00

53.9

3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Earnings per share

Six months ending August 31, 2022

Full year

Millions of yen

24,650 56,000

% - -

Millions of yen

(1,060)

1,200

% - -

Millions of yen

(1,090)

1,140

% - -

Millions of yen

(1,120)

900

% - -

Yen

(92.36)

74.22

4. Notes

  • (1) Changes in significant subsidiaries during the year ended February 28, 2022

    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: Changes in accounting policies due to other reasons:

Changes in accounting estimates:

Restatement of prior period financial statements:

No No No No

(3) Number of issued shares (common shares)

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

As of February 28, 2022

12,622,934 shares

As of February 28, 2021

12,622,934 shares

As of February 28, 2022 12,622,934 shares As of February 28, 2

Number of treasury shares at the end of the period

As of February 28, 2022

488,866 shares

As of February 28, 2021

513,200 shares

As of February 28, 2022

Average number of shares during the period

Year ended February 28, 2022

12,126,550 shares

Year ended February 28, 2021

12,106,124 shares

Year ended February 28, 2022 12,126,550 shares Year ended Febr

Consolidated financial statements Consolidated balance sheets

(Millions of yen)

As of February 28, 2021

As of February 28, 2022

Assets

Current assets

Cash and deposits

Notes and accounts receivable - trade Merchandise and finished goods Work in process

Raw materials and supplies Other

Allowance for doubtful accounts

19,652

3,341

9,406

155

249

1,154

(12)

18,767

2,659

7,819

191

237

955

(6)

Total current assets

33,947

30,626

Non-current assets

Property, plant and equipment

Buildings and structures

Accumulated depreciation

5,944 (2,131)

5,730 (2,286)

Buildings and structures, net

3,813

3,443

Land

Leased assets

Accumulated depreciation

4,136 992 (472)

4,136 826 (555)

Leased assets, net

519

271

Construction in progress Other

Accumulated depreciation

2 1,460 (568)

2 1,399 (591)

Other, net

891

807

Total property, plant and equipment

9,363

8,662

Intangible assets

Trademark right Goodwill

Other

109 1,248 809

3,323 - 626

Total intangible assets

2,167

3,949

Investments and other assets

Investment securities

Leasehold and guarantee deposits Deferred tax assets

Retirement benefit asset Other

Allowance for doubtful accounts

4,954

1,559

5

872

64

(8)

4,802

1,284 -

2,284

28

(8)

Total investments and other assets

7,448

8,390

Total non-current assets

18,979

21,003

Total assets

52,926

51,629

(6)

(2,286)

(555)

(591)

(8)

(Millions of yen)

As of February 28, 2021

As of February 28, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade Current portion of bonds payable Short-term borrowings

Current portion of long-term borrowings Lease obligations

Accrued expenses Accrued consumption taxes Income taxes payable Provision for bonuses Provision for sales returns Other

3,876

20

3,200 -

266

5,184

957

33

193

10

828

4,176 -

3,000

2,800

195

1,615

462

138

212

10

1,632

Total current liabilities

14,570

14,242

Non-current liabilities

Convertible-bond-type bonds with share acquisition rights Long-term borrowings

Lease obligations

Long-term accounts payable - other Deferred tax liabilities

Deferred tax liabilities for land revaluation Retirement benefit liability

Other

-

2,800

422

108

762

540

235

24

553

1,000

208

74

899

540

164

25

Total non-current liabilities

4,893

3,465

Total liabilities

19,464

17,708

Net assets

Shareholders' equity

Share capital Capital surplus Retained earnings Treasury shares

15,002 9,688 6,109 (1,044)

15,002 9,658 6,769 (994)

Total shareholders' equity

29,755

30,435

Accumulated other comprehensive income

Valuation difference on available-for-sale securities Deferred gains or losses on hedges

Revaluation reserve for land

Foreign currency translation adjustment Remeasurements of defined benefit plans

1,721 -

1,199

146

639

2,031

3

1,199

93 -

Total accumulated other comprehensive income

3,707

3,328

Non-controlling interests

-

156

Total net assets

33,462

33,920

Total liabilities and net assets

52,926

51,629

(994)

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

(Millions of yen)

Fiscal year ended February 28, 2021

Fiscal year ended February 28, 2022

Net sales Cost of sales

37,939 23,424

38,642 20,095

Gross profit

14,515

18,547

Selling, general and administrative expenses

23,429

19,605

Operating loss

(8,913)

(1,058)

Non-operating income

Interest income Dividend income Foreign exchange gains Subsidy income

Other

9

218 -

45

29

0

152

58

246

42

Total non-operating income

303

499

Non-operating expenses

Interest expenses Loan related expenses

Share of loss of entities accounted for using equity method Foreign exchange losses

Other

79

16

314

7

9

82 - 92 - 1

Total non-operating expenses

426

176

Ordinary loss

(9,036)

(735)

Extraordinary income

Gain on sale of non-current assets Gain on sale of investment securities Gain on sale of golf membership Subsidy income

Reversal of accrued expenses for Cancellation penalty Gain on partial termination of retirement benefit plan

7,128

517 -

759

71 -

-

501

6

304 -

1,248

Total extraordinary income

8,476

2,060

Extraordinary losses

Loss on sale of non-current assets

Loss on retirement of non-current assets Impairment losses

Loss on sale of investment securities Loss on sale of golf club membership Business restructuring expenses Cancellation penalty

Extraordinary loss due to closing and other

35

198

937

311

3

1,242

296

1,364

- 8 400 - 5 - - 209

Total extraordinary losses

4,390

624

Profit (loss) before income taxes

(4,951)

700

Income taxes - current Income taxes - deferred

41 (1)

39 (0)

Total income taxes

39

38

Profit (loss)

(4,991)

661

Loss attributable to non-controlling interests

(3)

-

Profit (loss) attributable to owners of parent

(4,988)

661

(1,058)

(735)

(0)

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Sanyo Shokai Ltd. published this content on 22 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2022 06:27:02 UTC.