Sumitomo Bakelite : Summary of Consolidated Business Results for the Six Months Ended September 30, 2022

Summary of Consolidated Business Results

for the Six Months Ended September 30, 2022 [IFRS]

November 7, 2022

Company name

: Sumitomo Bakelite Co., Ltd.

Stock exchanges

: Tokyo

Securities code

: 4203

URL

:http://www.sumibe.co.jp/english

Representative

: Kazuhiko Fujiwara, President

Contact person

: Tsuyoshi Ueda, Manager of Corporate Communications Dept., Corporate General Affairs Div.

TEL [phone]

Date of the submission of Quarterly Securities Report

: November 9, 2022

Date of the start of dividend payment

: December 1, 2022

Quarterly results supplementary documents

: Yes

Quarterly results briefing

: Yes (For analysts and institutional investors)

(All amounts presented in million yen are rounded to the nearest million yen.)

1. Consolidated Business Results for the Six Months ended September 30, 2022

(1) Consolidated Financial Results

(% represents year-over-year increase (decrease).)

Revenue

Business profit

Operating profit

Profit before tax

Profit attributable to

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

April 2022 - September 2022

143,470

11.8

12,657

( 7.4)

12,482

( 7.7)

12,479

( 10.6)

9,230

( 10.2)

April 2021 - September 2021

128,315

42.3

13,662

181.7

13,522

243.3

13,957

227.3

10,277

224.8

Basic earnings

Diluted earnings

per share

per share

Yen

Yen

April 2022 - September 2022

196.16

-

April 2021 - September 2021

218.38

-

(Note) "Business profit" is calculated by deducting "Cost of sales" and "Selling, general and administrative expenses" from "Revenue."

(2) Consolidated Financial Position

Total assets

Total equity

Equity attributable to

Ratio of equity attributable

owners of parent

to owners of parent

Millions of yen

Millions of yen

Millions of yen

%

As of September 30, 2022

382,394

256,096

253,777

66.4

As of March 31, 2022

370,836

232,136

229,784

62.0

2. Dividends

Annual dividends per share

1st quarter

2nd quarter

3rd quarter

4th quarter

Total

Yen

Yen

Yen

Yen

Yen

April 2021 - March 2022

-

50.00

-

60.00

110.00

April 2022 - March 2023

-

60.00

April 2022 - March 2023

-

60.00

120.00

(Forecasts)

(Note) Revisions of the latest

dividend forecasts: None

3. Consolidated Financial Forecasts for the Year Ending March 31, 2023

(% represents year-over-year increase (decrease).)

Revenue

Business profit

Profit attributable to

Basic earnings per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

April 2022 - March 2023

290,000

10.2

28,500

7.6

21,000

14.8

446.28

(Note) Revisions of the latest consolidated financial

forecasts: None

[Notes]

1. Changes in significant subsidiaries (changes in " Specified Subsidiaries " accompanying changes in scope of consolidation) during this period : None
2. Changes in accounting policies and changes in accounting estimates

a) Changes in accounting policies required by IFRS	:	None
b) Changes in accounting policies other than a)	:	None
c) Changes in accounting estimates	:	None

(3) Number of outstanding shares				(Shares)
a) Number of outstanding shares (including treasury shares)	As of September 30, 2022	49,590,478	As of March 31, 2022	49,590,478
b) Number of treasury shares	As of September 30, 2022	2,535,320	As of March 31, 2022	2,534,727
c) Average number of outstanding shares during the period
April 2022 - September 2022	47,055,385	April 2021 - September 2021	47,057,171

(excluding treasury shares)

(Information on implementation status of quarterly review)

This "Summary of Consolidated Business Results" is not subject to quarterly review procedures by certified public accountants or audit firm.

(Information on appropriate use of forecasts)

The forecasts stated in this summary are based on information which is currently available to Sumitomo Bakelite Co., Ltd. and certain assumptions regarded to be reasonable. Since they do not guarantee future performance, there are possibilities that actual results may differ due to various factors.

Condensed Quarterly Consolidated Financial Statements

(1) Condensed Quarterly Consolidated Statements of Financial Position

		(Millions of yen)
	March 31, 2022	September 30, 2022
Assets
Current assets
Cash and cash equivalents	109,217	100,137
Trade and other receivables	59,414	61,896
Other financial assets	47	1,911
Inventories	50,276	59,568
Other current assets	4,337	3,880
Total current assets	223,291	227,392
Non-current assets
Property, plant and equipment	101,456	107,450
Right-of-use assets	6,963	8,482
Goodwill	1,260	1,312
Other intangible assets	2,488	2,406
Other financial assets	27,539	27,263
Retirement benefit asset	5,500	5,485
Deferred tax assets	2,211	2,325
Other non-current assets	128	279
Total non-current assets	147,546	155,002
Total assets	370,836	382,394

1

		(Millions of yen)
	March 31, 2022	September 30, 2022
Liabilities and equity
Liabilities
Current liabilities
Borrowings	35,155	22,213
Trade and other payables	56,316	57,911
Other financial liabilities	1,422	1,726
Income taxes payable	3,241	2,533
Provisions	200	171
Other current liabilities	776	833
Total current liabilities	97,110	85,387
Non-current liabilities
Borrowings	23,467	21,865
Other financial liabilities	3,578	4,532
Retirement benefit liability	4,148	4,394
Provisions	1,235	1,308
Deferred tax liabilities	8,592	8,280
Other non-current liabilities	571	531
Total non-current liabilities	41,591	40,910
Total liabilities	138,701	126,298
Equity
Share capital	37,143	37,143
Capital surplus	35,137	35,137
Treasury shares	( 6,794)	( 6,797)
Other components of equity	24,915	42,504
Retained earnings	139,383	145,790
Total equity attributable to owners of parent	229,784	253,777
Non-controlling interests	2,352	2,319
Total equity	232,136	256,096
Total liabilities and equity	370,836	382,394

2

1. Condensed Quarterly Consolidated Statements of Income and Comprehensive Income (Condensed quarterly consolidated statements of income)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2021	September 30, 2022
	(From April 1, 2021	(From April 1, 2022
	to September 30, 2021)	to September 30, 2022)
Revenue	128,315	143,470
Cost of sales	( 88,220)	( 102,502)
Gross profit	40,096	40,967
Selling, general and administrative expenses	( 26,433)	( 28,310)
Business profit	13,662	12,657
Other income	64	116
Other expenses	( 205)	( 291)
Operating profit	13,522	12,482
Finance income	596	833
Finance costs	( 160)	( 837)
Profit before tax	13,957	12,479
Income tax expenses	( 3,509)	( 3,056)
Profit	10,448	9,422
Profit attributable to:
Owners of parent	10,277	9,230
Non-controlling interests	171	192
Profit	10,448	9,422
Earnings per share
Basic earnings per share (Yen)	218.38	196.16
Diluted earnings per share (Yen)	-	-

3