[Summary] Annual Securities Report: Consolidated Financial Statements for the Years ended March 31, 2022 and 2021

Consolidated

Financial

Statements

Years ended March 31, 2022 and 2021

Consolidated Statement of Financial Position

Sumitomo Chemical Company, Limited and Consolidated Subsidiaries

March 31, 2022 and 2021

				Thousands of
		Millions of yen	US dollars (Note 2)
	Note	March 31, 2022	March 31, 2021	March 31, 2022
Assets
Current assets:
Cash and cash equivalents	8	¥    365,429	¥    360,918	$ 2,985,775
Trade and other receivables	9	720,422	652,616	5,886,282
Other financial assets	10	23,991	12,814	196,021
Inventories	11	651,358	511,529	5,321,987
Other current assets	12	51,442	46,552	420,312
subtotal		1,812,642	1,584,429	14,810,377
Assets held for sale	13	-	42	-
Total current assets		1,812,642	1,584,471	14,810,377
Non-current assets:
Property, plant and equipment	14	823,022	793,500	6,724,585
Goodwill	15	244,517	220,295	1,997,851
Intangible assets	15	471,109	450,172	3,849,244
Investments accounted for using the equity method	17	289,968	243,803	2,369,213
Other financial assets	10	474,899	528,826	3,880,211
Retirement benefit assets	24	89,538	80,455	731,579
Deferred tax assets	18	49,121	41,406	401,348
Other non-current assets	12	53,335	47,326	435,780
Total non-current assets		2,495,509	2,405,783	20,389,811
Total assets		¥ 4,308,151	¥ 3,990,254	$ 35,200,188

See accompanying notes.

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				Thousands of
		Millions of yen	US dollars (Note 2)
	Note	March 31, 2022	March 31, 2021	March 31, 2022
Liabilities and equity
Liabilities
Current liabilities:
Bonds and borrowings	19, 21	¥   261,280	¥   250,389	$ 2,134,815
Trade and other payables	23	551,583	522,887	4,506,765
Other financial liabilities	20, 21, 22	84,137	55,913	687,450
Income taxes payable		24,515	38,410	200,302
Provisions	25	129,709	106,968	1,059,801
Other current liabilities	26	122,267	116,125	998,995
Total current liabilities		1,173,491	1,090,692	9,588,128
Non-current liabilities:
Bonds and borrowings	19, 21	1,089,190	1,100,677	8,899,338
Other financial liabilities	20, 21, 22	101,718	81,117	831,097
Retirement benefit liabilities	24	33,091	37,179	270,373
Provisions	25	36,502	25,115	298,243
Deferred tax liabilities	18	101,299	101,854	827,674
Other non-current liabilities	26	70,883	71,501	579,158
Total non-current liabilities		1,432,683	1,417,443	11,705,883
Total liabilities		2,606,174	2,508,135	21,294,011
Equity
Share capital	27	89,699	89,699	732,895
Capital surplus	27	27,089	26,882	221,333
Retained earnings	27	974,382	854,538	7,961,288
Treasury shares	27	(8,343)	(8,334)	(68,167)
Other components of equity	27	135,274	56,445	1,105,270
Equity attributable to owners of the parent		1,218,101	1,019,230	9,952,619
Non-controlling interests		483,876	462,889	3,953,558
Total equity		1,701,977	1,482,119	13,906,177
Total liabilities and equity		¥ 4,308,151	¥ 3,990,254	$ 35,200,188

See accompanying notes.

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Consolidated Statement of Profit or Loss

Sumitomo Chemical Company, Limited and Consolidated Subsidiaries

Years ended March 31, 2022 and 2021

				Thousands of
		Millions of yen	US dollars (Note 2)
	Note	2022	2021	2022
Sales revenue	6, 29	¥ 2,765,321	¥ 2,286,978	$ 22,594,338
Cost of sales		(1,891,458)	(1,515,782)	(15,454,351)
Gross profit		873,863	771,196	7,139,987
Selling, general and administrative expenses	30	(690,860)	(631,270)	(5,644,742)
Other operating income	31	10,533	26,673	86,061
Other operating expenses	31	(20,713)	(17,025)	(169,238)
Share of profit or loss of investments accounted for	17	42,180	(12,459)	344,636
using the equity method
Operating income		215,003	137,115	1,756,704
Finance income	32	59,194	19,868	483,651
Finance expenses	32	(23,061)	(19,180)	(188,423)
Income before taxes		251,136	137,803	2,051,932
Income tax expenses	18	(64,699)	(69,729)	(528,629)
Net income		¥ 186,437	¥     68,074	$ 1,523,303
Net income attributable to:
Owners of the parent		162,130	46,043	1,324,700
Non-controlling interests		24,307	22,031	198,603
Net income		¥ 186,437	¥     68,074	$ 1,523,303
			Yen	US dollars (Note 2)
Earnings per share:	34
Basic earnings per share		¥ 99.16	¥ 28.16	$ 0.81
Diluted earnings per share		-	-	-

See accompanying notes.

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Consolidated Statement of Comprehensive Income

Sumitomo Chemical Company, Limited and Consolidated Subsidiaries

Years ended March 31, 2022 and 2021

					Thousands of
			Millions of yen	US dollars (Note 2)
	Note		2022	2021	2022
Net income		¥	186,437	¥  68,074	$ 1,523,303
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Remeasurements of financial assets measured at	33		(51,797)	13,405	(423,213)
fair value through other comprehensive income
Remeasurements of defined benefit plans	24, 33		7,549	18,867	61,680
Share of other comprehensive income of	17, 33		(881)	3,440	(7,198)
investments accounted for using the equity method
Total items that will not be reclassified to profit or loss			(45,129)	35,712	(368,731)
Items that may be subsequently reclassified to profit or loss:
Cash flow hedge	33, 36		(5,904)	(3,015)	(48,239)
Exchange differences on conversion of foreign operations	33		103,499	36,890	845,649
Share of other comprehensive income of	17, 33		15,964	(1,701)	130,435
investments accounted for using the equity method
Total items that may be subsequently reclassified to profit or loss			113,559	32,174	927,845
Other comprehensive income, net of taxes			68,430	67,886	559,114
Total comprehensive income			254,867	135,960	2,082,417
Total comprehensive income attributable to:
Owners of the parent			229,765	108,727	1,877,318
Non-controlling interests			25,102	27,233	205,099
Total comprehensive income		¥	254,867	¥ 135,960	$ 2,082,417

See accompanying notes.

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