Sumitomo Osaka Cement : Summary of Consolidated Financial Results for Fiscal 2021, Ended March 31, 202

Summary of Consolidated Financial Results of Sumitomo Osaka Cement Co.,Ltd. for 2021 March Term (from April 1, 2020 to March 31, 2021）〔Japan Standard〕

May 13,2021

Company name

Sumitomo Osaka Cement Co., Ltd

Stock Exchange Listing

Tokyo

Stock code

5232

URL https://www.soc.co.jp/

Representative

(Job Title)

Managing Director

(Name)

Fukuichi Sekine

Contact Manager

(Job Title)

General Manager

(Name)

Jun Kamimura

(TEL) [phone]

Scheduled date to submit

June 29,2021

Scheduled date to commence

June 30,2021

General Meeting

Dividend payments

Scheduled date to submit

June 29,2021

Securities Report

Availability of supplementary briefing material

： Yes

on financial results

Scheduled date of Quarterly Financial Results

： Yes

Briefing Session

(Figures are rounded down to the nearest million yen)

１．Consolidated Financial Results for 2021 March Term (from April 1, 2020 to March 31, 2021）

（１）Consolidated operating results

(％ indicates

changes

from the

previous corresponding

term)

Net sales

Operating income

Ordinary income

profit attributable to

owners of the parent

Million yen

％

Million

yen

％

Million

yen

％

Million

yen

％

2021 March Term

239,274

△2.4

16,631

3.1

17,641

4.1

11,719

7.3

2020 March Term

245,159

△2.4

16,128

13.7

16,947

7.3

10,922

40.1

(Note)

Comprehensive income

2021 March Term

14,717

Million yen

(63.0％)

2020 March Term

9,027Million yen

(78.8％)

Net profit

Fully diluted profit

Return on equity

Ordinary income

Operating income

per share

per share

on total assets

Margin

Yen Sen

Yen Sen

％

％

％

2021 March Term

304.56

―

5.9

5.4

7.0

2020 March Term

283.21

―

5.6

5.2

6.6

(Reference)

Gain/loss on

equity

method

2021 March Term

243Million yen

2020 March Term

268Million yen

investment

（２）Consolidated financial status

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million

yen

％

Yen Sen

2021 March Term

329,650

205,827

61.8

5,397.31

2020 March Term

321,108

198,699

61.3

5,101.00

(Reference)

Equity

2021 March Term

203,731Millions Yen

2020 March Term

196,724Millions Yen

（３）Consolidated cash flow status

Cash flow from operating

Cash flow from

Cash flow from financing

Cash & cash

equivalents at the

activities

Investing Activities

activities

end of the term

Million yen

Million

yen

Million

yen

Million yen

2021 March Term

32,797

△18,884

△10,869

18,600

2020 March Term

32,305

△18,815

△12,959

15,799

２．Dividend Status

Annual dividend

Total Dividend

Pay out ratio

Dividend on net

asset

End of 1Q

End of 2Q

End of 3Q

Year end

Total

(Sum)

(Consolidated)

(Consolidated)

Yen Sen

Yen Sen

Yen Sen

Yen Sen

Yen Sen

Million yen

％

％

2020 March Term

―

60.00

―

60.00

120.00

4,628

42.4

2.4

2021 March Term

―

60.00

―

60.00

120.00

4,582

39.4

2.3

2022 March Term

―

60.00

―

60.00

120.00

49.6

(Forecast)

(Note) Revisions from the most recently published dividend forecast : None

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３．Forecast of Consolidated Financial Results for 2022 March Term（From April 1,2021～March 31,2022）

(% indicates changes from the previous corresponding term)

	Net sales	Operating income	Ordinary income	profit attributable to	Net income
	owners of the parent	per share
	Million yen	％	Million yen	％	Million yen	％	Million yen	％	Yen Sen
First-half	88,200	△21.3	4,400	△26.9	5,000	△24.1	4,000	△11.1	107.33
(Total)
Full-year	185,500	△22.5	11,500	△30.9	12,500	△29.1	9,000	△23.2	241.78

(Note)

1. Since the Company will apply the "Accounting Standard for Revenue Recognition" (Corporate Accounting Standard No. 29, March 31, 2020) from the beginning of the fiscal year ending March 2022, the above consolidated earnings forecast will be made after applying the accounting standard. It is the amount of money.
2. At the board of directors meeting held on February 9, 2021, the Company resolved to acquire treasury stock. The impact of the acquisition of treasury stock is taken into consideration in the above consolidated earnings forecast, "Net income per share".

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• Notes

（ １ ） Changes in significant subsidiaries	during the	present term (Transition specific	：	None
subsidiaries accompanied by changes in the scope of consolidation)
（２）Changes in accounting policies, changes in accounting estimates, and restatements
①	Changes in accounting policies due to revision	： None
	of accounting standards, etc.
②	Changes in accounting policies besides	①	： None
③	Changes in accounting estimates		： None
④	Redisplay of modification		： None

（３）Numbers of Shares Issued（Common stock）

• Number of shares issued at the end of the period (including treasury stock)

• Year-endtreasury stock

• Average number of shares during the period

March,2021	38,643,217Shares	March,2020	40,643,217Shares
March,2021	896,372Shares	March,2020	2,077,354Shares
March,2021	38,480,575Shares	March,2020	38,568,657Shares

(Reference)

Summery of Non-consolidated Financial Results

１．Non-consolidated Financial Results for 2021 March Term

(from April 1, 2020 to March 31, 2021）

（１）Non-consolidated operating profit

(% indicates changes from the previous corresponding term)

Net sales

Operating income

Ordinary income

Net profit

Million yen

％

Million yen

％

Million yen

％

Million yen

％

2021 March Term

147,619

△5.3

12,170

7.4

13,329

7.4

9,104

11.6

2020 March Term

155,935

△0.9

11,334

16.8

12,409

11.9

8,157

73.9

Net profit

Fully diluted profit per

per share

share

Yen Sen

Yen Sen

2021 March Term

236.61

―

2020 March Term

211.51

―

（２）Non-consolidated financial status

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million

yen

％

Yen Sen

2021 March Term

281,528

166,200

59.0

4,403.02

2020 March Term

273,244

162,751

59.6

4,220.09

(Reference)

Equity

2021 March term

166,200Millions Yen

2020 March Term

162,751Millions Yen

２．Forecast of Non-consolidated Financial Results for 2022 March Term（From April 1,2021～March 31,2022）

(% indicates changes from the previous corresponding term)

	Net sales		Ordinary income	Net profit		Net profit per share
	Million yen		％	Million yen	％	Million yen		％	Yen Sen
First-half	69,400		△2.4	3,600	△37.7	3,100		△23.9	83.18
(Total)
Full-year	143,500		△2.8	8,000	△40.0	6,000		△34.1	161.20

(Note)

1. Since the Company will apply the "Accounting Standard for Revenue Recognition" (Corporate Accounting Standard No. 29, March 31, 2020) from the beginning of the fiscal year ending March 2022, the above non-consolidated earnings forecast will be made after applying the accounting standard. It is the amount of money.
2. At the board of directors meeting held on February 9, 2021, the Company resolved to acquire treasury stock. The impact of the acquisition of treasury stock is taken into consideration in the above non-consolidated earnings forecast, "Net income per share".

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・Consolidated financial statements （１）Consolidated balance sheets

				(Unit：Million yen)
			Previous consolidated	Current consolidated
			fiscal year	fiscal year
			(March 31, 2020)	(March 31, 2021)
Assets
	Current assets
	Cash and deposit		15,863	18,664
	Notes and accounts receivable	48,359	46,268
	Merchandise and finished goods		7,067	7,387
	Work in progress	1,433	1,851
	Raw materials and supplies		12,876	12,505
	Short-term loans receivable	547	477
	Others		1,740	4,078
	Allowance for loan losses	△1	△15
	Total current assets		87,885	91,217
	Fixed assets
	Property, plant and equipment
	Buildings and structures	173,057	174,640
	Accumulated depreciation		△122,620	△125,298
	Buildings and structures (Net)	50,437	49,341
	Machinery, equipment and vehicles		446,055	453,113
	Accumulated depreciation	△389,326	△397,867
	Machinery, equipment and vehicles (Net)		56,728	55,245
	Land		37,180	37,090
	Construction in progress		4,339	8,100
	Others	37,529	38,044
	Accumulated depreciation		△19,808	△20,158
	Others(Net)	17,721	17,885
	Total property, plant and equipment		166,407	167,664
	Intangible fixed assets		3,017	3,106
	Investment and other assets
	Investment securities	54,089	57,095
	Long-term loans receivable		2,774	3,154
	Deferred tax assets	1,216	1,174
	Assets related to retirement benefits		382	1,028
	Others	5,455	5,320
	Allowance for doubtful accounts		△120	△111
	Total investment and other assets	63,797	67,661
	Total Fixed assets		233,222	238,433
	Total assets	321,108	329,650

―4―

				(Unit：Million yen)
			Previous consolidated	Current consolidated
			fiscal year	fiscal year
			(March 31, 2020)	(March 31, 2021)
Liabilities
	Current liabilities
	Bills payable and accounts payable		27,593	28,132
	Short-term borrowing	21,354	19,417
	Long-term borrowing to be repaid within one year		5,470	6,243
	Income taxes payable and others	2,736	3,609
	Provision for bonuses		2,438	2,484
	Others	10,848	11,963
	Total current liabilities		70,441	71,850
	Fixed liabilities
	Corporate bond		10,000	10,000
	Long-term borrowing	15,783	15,745
	Deferred tax liabilities		10,525	11,866
	Provision for directors' retirement benefits	147	154
	Provision for PCB waste disposal costs		107	61
	Retirement benefit liability	2,176	895
	Provision for share-based remuneration		－	21
	Asset retirement obligation	1,041	1,005
	Others		12,184	12,222
	Total fixed liabilities	51,966	51,973
	Total liabilities		122,408	123,823
Net Assets
	Stock capital
	Capital stock	41,654	41,654
	Capital surplus		24,558	14,102
	An earned surplus	117,100	124,190
	Treasury stock		△10,819	△3,319
	Total stock capital	172,493	176,626
	Accumulated other comprehensive income
	Valuation difference on other securities	24,517	26,469
	Currency translation adjustment account		504	424
	Accumulated adjustment for retirement benefits	△791	210
	Total accumulated other comprehensive income		24,231	27,104
	Non-dividend shareholder stake	1,975	2,096
	Total net assets		198,699	205,827
Total liabilities and net assets	321,108	329,650

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