Summary of Consolidated Financial Results of Sumitomo Osaka Cement Co., Ltd.

for the 1st Half Fiscal 2022, Ending March 31, 2022 (Japan GAAP)

November11,2021

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)

Hirotsune Morohashi

Contact Manager

(Job Title) General Manager

(Name)

Tatsuaki Teranishi (TEL) 03-5211-4505

Scheduled

date

to submitNovember 12, 2021

Scheduled

date to commence December 1. 2021

the Quarterly Report

dividend payments

Availability of supplementary briefing

:Available

material on quarterly financial results

Scheduled date of Quarterly Financial:Available

Results Briefing Session

(For

analysts)

(Figures are rounded down to the nearest million yen)

1.Consolidated Financial Results for the second quarter

(From April 1, 2021 to September 30, 2021)

(1)Consolidated operating results(cumulative)

(% indicated changes from the previous

corresponding term)

Quarterly net

Net sales

Operating profit

Ordinary profit

profit attributable

to owners of the

parent

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2022 the second quarter

89,094

-

5,183

△13.9

6,979

5.9

6,042

34.2

term

2021 the second quarter

112,119

△6.4

6,021

△5.4

6,589

△3.9

4,501

△1.2

term

(Note) Comprehensive

FY ending March 5,729Millions

(90.6%)

FY ending March 2021

3,005 Millions ( △

profit

2022 the second

of yen

the second quarter

of yen

62.5%)

quarter

Quarterly net

Quarterly net

profit per share

profit per share

after adjusting

potential share

Yen Sen

Yen

Sen

FY

ending

March,2022

162.13

The second quarter

FY

ending

March,2021

116.71

the second quarter

Accounting Standard for Revenue Recognition" (Corporate Accounting Standard No. 29, March 31, 2020) has been applied from the beginning of the first quarter of the current consolidated accounting period. The year-on- year rate of change in sales for the second quarter of the fiscal year ending March 2022 is not shown because it will have a significant impact on sales.

(2)Consolidated Financial Status

Total assets

Net assets

Net assets ratio

Millions of yen

Millions of yen

FY ending March,2022

324,911

207,233

63.1

the second quarter term

FY ending March,2021

329,650

205,827

61.8

(Reference) Net

2022 the second

205,076

Millions

FY ending

203,731 Millions

assets

quarter

of yen

March

of yen

2021

―1―

: Yes
: None
: None

2.Dividend Status

Annual Dividend

End of 1Q

End of 2Q

End of 3Q

Year-end

Total

Yen

Sen

Yen Sen

Yen Sen

Yen Sen

Yen Sen

FY ending March,2021

60.00

60.00

120.00

FY ending March,2022

60.00

End of March,2022

60.00

120.00

(Forecast)

(Note) Revisions from the most recently published dividend forecast

:None

3.The fiscal year ending March,2022 Consolidated Performance Forecast (From April 1, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding term)

Net profit

Net sales

Operating profit

Ordinary profit

attributable to

Net profit

owners of the

per share

parent

Millions of

Millions of

Millions of

Millions of

Yen Sen

yen

yen

yen

yen

Fiscal year 2022

186,300

-

8,500

△48.9

10,000

△43.3

8,000

△31.7

214.91

(Note) 1.Presence or absence of revisions from the most recently announced earnings forecast: Yes 2."Accounting Standards for Revenue Recognition Standards" (Corporate Accounting Standard No. 29, March 31, 2020), etc. for the first quarter of the current consolidated fiscal year.

Since it has been applied from the beginning of the period, the above consolidated earnings forecast is the amount after applying the relevant accounting standard. The rate of increase / decrease in sales from the same quarter of the previous year is not shown because it will have a large impact on sales.

※ Notes

( 1 ) Changes in significant subsidiaries during this consolidated

: None

cumulative quarter

(Changes od subsidiaries involving changes in the scope of consolidation)

New -Company

(Name of

Excluded -Company

(Name of

Company)

company)

(2)Adoption of specific accounting treatments to the preparation :None of quarterly consolidated financial statements

(3)Changes in accounting policies, changes in accounting estimation or restatements

① Changes in accounting policies due to the revision of accounting standards

② Changes in accounting policies other than ①

③ Changes in accounting estimation

④ Restatements

: None

―2―

(4) Numbers of Shares Issued(Common stock)

① Total number of

issued shares

(including treasury

stock)

② Total number of treasury stocks

③ Average number of shares during the period(cumulative)

FY ending March,

FY ending March,

2022

37,243,217Shares

2021

38,643,217Shares

2Q

FY ending March,

FY ending March,

2022

70,450Shares

2021

896,372Shares

2Q

FY ending March,

FY ending March,

2022

37,269,479Shares

2021

38,565,272Shares

2Q

2Q

The quarterly Financial Reports are outside of the scope of quarterly review by certified public accountants and audit corporations

※ Explanation for the appropriate use of performance forecasts and other special notes:

The statements regarding forecast of financial results in this report are based on the information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. For the suppositions that from the assumptions for profit forecast and cautions concerning the user thereof, please refer to "1, Qualitative Information on Quarterly Financial Results" and "(3) Qualitative Information on Forecast of Consolidated Financial Results and Other Forward-Looking Information" on page 2 of the Appendix

―3―

  • Table of Contents of Appendix

1.Qualitative Information on Quarterly Financial Results

………………………………5

(1)

Qualitative information on consolidated operational results

…………………………5

(2)

Qualitative information on consolidated financial position

……………………………5

(3)

Qualitative information on consolidated financial results

and other forward-looking information

…………………………………………6

2.Notes on Quarterly Consolidated Financial Statements and Principal ……………………7

(1)Quarterly consolidated balance sheet …………………………………………………………7

(2)Quarterly consolidated profit and loss calculation and comprehensive profit ……9

(3)Quarterly consolidated cash-flow calculation ………………………………………………11

(4)Notes to Quarterly Consolidated Financial Statements ……………………………………13

Notes to going concern assumption …………………………………………………………13

(Notes to significant changes in the amount of shareholders' equity)……………… 13

(Accounting policy changes) ………………………………………………………………………13

Segment information ……………………………………………………………………………14

3.Supplementary Information …………………………………………………………………………16

(1) Consolidated segment profit and lossPeriod comparison ……………………………16

―4―

1Qualitative Information on Quarterly Financial Results

(1)Qualitative information on consolidated operational results

During this second quarter-consolidated period (from April to September, 2021), the Japanese economy continued to face difficult conditions due to COVID-19, although there were signs of a partial recovery due to the effects of the government's economic measures and other factors and improvements in overseas economies.

In the cement industry, domestic demand for cement fell 1.9% year on year, to 18,696 thousand tons, as public-sector demand declined partly due to a shortage of skilled workers, despite an increase in private- sector demand due to an increase in private-sector capital investment as a result of redevelopment work in urban areas. Exports, on the other hand, increased 8.5% year on year. As a result, total sales volume by domestic manufacturers, including exports, increased 0.4% year on year to 24,395 thousand tons.

In this environment, the Group launched its 2020-22Medium-Term Management Plan in the fiscal year of 2020. In the cement-related business (Cement, mineral products, and construction materials), we put our efforts to secure volume including exports, and as part of our efforts to expand related oversea businesses, we focused on launching overseas cement business. A cement terminal went into operation at an Australian operating company in which we have a stake. In the high-performance products business (opto-electronics, new materials, and battery materials), we continued to accurately respond to customer needs and strengthened our research and development efforts to develop new products. In addition, as an environmental measure, we worked to increase the volume of incinerated ash received from general waste and made capital investments to increase the volume of waste plastic received.

We have also endorsed the Task Force on Climate-related Financial Disclosure (TCFD) and joined the TCFD Consortium. Going forward, we will continue to work to combat climate change focusing on reducing CO2 emissions, and to promote information disclosure based on the TCFD.

As a result of the above, the Group's operating results were as follows,

Although cement sales volume and other factors increased year on year, by applying the "Account Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020: hereinafter referred to as the "Accounting Standard for Revenue Recognition"), net sales resulted in a decrease of 23,025 million yen compared to the same period of the previous fiscal year to 89,094 million yen. Ordinary income was 6,979 million yen, an increase of 389 million yen from the same period of the previous fiscal year, mainly due to the recording of dividends from overseas investees, and net income attributable to stakeholders of the parent company was 6,042 million yens, an increase of 1,541 million yen from the period of the previous fiscal year, mainly due to the recording of a gain on sales of investment securities.

The effect of adopting the revenue recognition accounting standard was a decrease of 28,899 million yen in net sales. For details, please refer to "2. Quarterly Consolidated Fiscal Statements and Main Notes (4) Notes to Quarterly Consolidated Fiscal Statements (Change in Accounting Policies)".

(2)Qualitative Information on Consolidated Financial Position

Total assets at the end of the second quarter of the current consolidated fiscal year were 324,911 million yen, a decrease of 4,739 million yen compared to the end of the previous consolidated fiscal year.

The main increase / decrease was a decrease in cash and deposits of 1,681 million yen and a decrease in bills receivable and accounts receivable of 3,090 million yen.

Liability was 117,678 million yen, a decrease of 6,145 million yen compared with the end of the previous consolidated fiscal year. The main increase / decrease was a decrease in unpaid corporate tax etc. of 1,115 million yen and a decrease I long-term debt of 2,455 million yen.

Net assets were 207,233 million yen, an increase of 1,405 million yen compared with the end of the previous consolidated fiscal year. The main increase/decrease was a decrease in treasury stock (increase in net assets) of 3,058 million yen due to the acquisition and cancellation of treasury stock, and a decrease

―5―

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Sumitomo Osaka Cement Co. Ltd. published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 07:09:05 UTC.