Shizuoka Gas : Flash Report for the First Quarter of 2021

Flash Report for the First Quarter of 2021[Japan GAAP](Consolidated)

		May 12, 2021
Company Name: SHIZUOKA GAS CO., LTD.	Listing: Tokyo Stock Exchange (1st section)
Code Number:	9543	URL:https://ir.shizuokagas.co.jp/en/
Representative:	Kishida Hiroyuki, Representative Director and President
Inquiries to:	Taniguchi Katsumi, Accounting and Finance Manager, Management Strategy Dept.
Telephone:	[phone]
Date for presentation of the quarterly report:	May 13, 2021
Date of dividend payment:	-
Preparation of supplemental explanatory materials:	Yes
Holding of quarterly results briefing session:	No

1. Consolidated Business Results for the First Quarter (January 1 through March 31, 2021)

(Amounts under one million yen are omitted; YoY % change)

(1) Operating Results

	Net sales	Operating profit	Ordinary profit
	(¥ million)	(¥ million)	(¥ million)
Reporting First Quarter	31,479	0(13.3)%	3,512	((((14.9%	4,200	(((42.9%
Previous First Quarter	36,320	0(14.8)%	3,057	((((10.4)%	2,940	0 (16.9)%
Note: Total comprehensive income (¥ million)
Reporting First Quarter: 4,121 (－%)	Previous First Quarter: (239) (－%)
	Profit attributable to owners	Profit	Diluted profit
	of parent (¥ million)	per share (¥)	per share (¥)
Reporting First Quarter	2,874	((58.1%	38.81	38.74
Previous First Quarter	1,817	((20.8)%	24.56	24.51

(2) Financial Position

			Total assets			Net assets	Equity ratio	Net assets per
			(¥ million)			(¥ million)	(%)		share (¥)
	Reporting First Quarter		112,464			90,626	75.8	1,151.34
	Previous full term		118,177			87,673	69.4	1,108.38
	Note: Net assets excluding share acquisition rights and non-controlling interests (¥ million)
	Reporting First Quarter: 85,259	Previous full term: 82,073
2. Dividend Payment
							Annual dividend per share (¥)
			1Q			2Q		3Q		Term-end		Total
FY 2020		-			8.50		-		8.50		17.00
FY 2021		-			/		/		/		/
FY 2021 (forecast)		/			9.00		-		9.00		18.00

Note: Revision of previously announced dividend forecast: No

3. Consolidated Business Forecast for Current Term (January 1 through December 31, 2021)

(Amounts under one million yen are omitted; YoY % change)

	Net sales	Operating profit	Ordinary profit	Profit attributable to	Profit per
	owners of parent
	(¥ million)	(¥ million)	(¥ million)	share (¥)
	(¥ million)
Full term	128,830 6.2%	5,130 (24.9)%	6,460 (12.6)%	4,070	9.7%	54.96

Note: Revision of previously announced consolidated business forecast: Yes

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※Notes

(1) Major changes in subsidiaries: No

Note: Transfer of specified subsidiaries during the reporting First Quarter resulting in changes in the scope of consolidation

1. Simplified accounting and special accounting methods for quarterly financial reporting: Yes
   (Please refer to the section "Notes(3) Application of Special Accounting Methods in Preparation of Quarterly Consolidated Financial Statements" on P7)
2. Changes in accounting policies, estimates, or retrospective restatements

1. Changes in accounting policies due to revisions of accounting standards: No
2. Other: No
3. Changes in accounting estimates: No
4. Retrospective restatements: No

1. Number of issued shares (ordinary shares)

1. Number of shares issued at end of period (including treasury shares)

Reporting First Quarter:	76,192,950
Previous full term:	76,192,950
b) Number of treasury shares at end of period
Reporting First Quarter:	2,140,748
Previous full term:	2,145,148

c) Average number of shares outstanding during the term

Reporting First Quarter:	74,052,006
Previous First Quarter:	74,009,207

Quarterly Review

Quarterly financial results are exempt from quarterly review.

Notes on proper use of forecast, and other matters

Business forecast and other forward-looking statements contained in this document are assumptions based on information available to the company and judgments deemed rational at the time this document was published. Forward-looking statements are not a guarantee that forecast will be achieved. Actual earnings may differ significantly from business forecast due to various factors.

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Quarterly Consolidated Financial Statements and Notes (1)Consolidated Balance Sheets

	(¥ million)
	December 31,2020	March 31,2021
Assets
Non-current assets
Property, plant and equipment
Production facilities	5,892	5,581
Distribution facilities	34,213	34,002
Service and maintenance facilities	5,135	5,093
Other facilities	7,481	7,531
Construction in progress	2,096	2,318
Total property, plant and equipment	54,819	54,526
Intangible assets	935	970
Investments and other assets
Investment securities	8,218	9,661
Long-term loans receivable	4,463	4,283
Deferred tax assets	987	731
Other investments and other assets	1,810	1,912
Allowance for doubtful accounts	(73)	（78）
Total investments and other assets	15,406	16,509
Total non-current assets	71,160	72,006
Current assets
Cash and deposits	31,732	23,642
Notes and accounts receivable-trade	8,492	10,231
Merchandise and finished goods	307	335
Raw materials and supplies	4,863	4,455
Other current assets	1,646	1,819
Allowance for doubtful accounts	(25)	（27）
Total current assets	47,016	40,457
Total assets	118,177	112,464

Note: Amounts under one million yen are omitted.

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	(¥ million)
	December 31,2020	March 31,2021
Liabilities
Non-current liabilities
Long-term borrowings	4,373	3,887
Deferred tax liabilities	172	214
Retirement benefit liability	3,045	3,071
Other non-current liabilities	99	99
Total non-current liabilities	7,691	7,273
Current liabilities
Current portion of non-current liabilities	1,712	1,609
Accounts payable-trade	9,571	6,297
Accounts payable-other	3,140	2,421
Income taxes payable	2,089	1,039
Provision for bonuses	423	735
Allowance for ship allocation adjustment	2,900	－
Other current liabilities	2,976	2,460
Total current liabilities	22,812	14,564
Total liabilities	30,503	21,838
Net assets
Shareholders' equity
Share capital	6,279	6,279
Capital surplus	4,948	4,950
Retained earnings	69,583	71,827
Treasury shares	（1,090）	（1,088）
Total shareholders' equity	79,721	81,968
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	2,341	3,035
Deferred gains or losses on hedges	（218）	－
Foreign currency translation adjustment	（104）	（63）
Remeasurements of defined benefit plans	333	318
Total accumulated other comprehensive income	2,352	3,290
Share acquisition rights	108	103
Non-controlling interests	5,491	5,262
Total net assets	87,673	90,626
Total liabilities and net assets	118,177	112,464

Note: Amounts under one million yen are omitted.

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(2)Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

Consolidated Statements of Income

	(¥ million)
First quarter ended March 31	2020	2021
Net sales	36,320	31,479
Cost of sales	26,320	21,188
Gross profit	9,999	10,291
Selling, general and administrative expenses	6,942	6,778
Operating profit	3,057	3,512
Non-operating income
Interest income	26	21
Dividend income	3	424
Share of profit of entities accounted for using equity method	－	172
Miscellaneous income	105	121
Total non-operating income	136	738
Non-operating expenses
Interest expenses	25	19
Share of loss of entities accounted for using equity method	154	－
Foreign exchange losses	66	21
Miscellaneous expenses	6	9
Total non-operating expenses	253	50
Ordinary profit	2,940	4,200
Profit before income taxes	2,940	4,200
Income taxes	858	1,025
Profit	2,081	3,175
Profit attributable to non-controlling interests	263	300
Profit attributable to owners of parent	1,817	2,874

Note: Amounts under one million yen are omitted.

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