Taiyo Yuden : Financial Results for the 3rd Quarter(1229KB)

Consolidated Results for

the nine months ended December 31, 2020

February 8, 2021

Company name: TAIYO YUDEN CO., LTD.

URL: http：//www.ty-top.com/

Representative: Shoichi Tosaka, President and Chief Executive Officer

Contact: Tomomitsu Fukuda, Senior Operating Officer, Deputy Chief of Management Planning Headquarters Telephone number: [phone]

Listing exchange: Tokyo Stock Exchange (Code Number: 6976) Preparation of supplementary

materials for the quarterly financial results: Yes

Holding of presentation of

quarterly financial results: Yes (For institutional investors and investment analysts)

1. Consolidated financial results for the period from April 1, 2020 to December 31, 2020

(1) Operating results

Nine months ended

December 31, 2020

Nine months ended

December 31, 2019

Note: Comprehensive income ended on December 31, 2020

(Percentages represent changes from the same period in the previous fiscal year.)

						Net income attributable
Net sales		Operating income	Ordinary income		to owners of the parent
						company
221,449	3.4	30,326	2.0	29,605	4.5	19,825	(0.9)
214,095	3.2	29,745	12.3	28,329	5.7	19,998	(0.3)
23,032 million yen ;	29.7 %	ended on December 31, 2019	17,759 million yen ;	(3.6 %)

Nine months ended

December 31, 2020

Nine months ended

December 31, 2019

(2) Financial position

Net income	Diluted net income
per share	per share
Yen	Yen

157.96157.50

158.53158.13

Total assets	Net assets	Equity ratio	Net assets per share
Millions of yen	Millions of yen	%	Yen

As of December 31,	2020	382,448	229,556	59.9	1,823.63
As of March 31,	2020	343,122	210,454	61.2	1,672.40
(Reference) Shareholder's equity	As of December 31, 2020	228,896 million yen
		As of March 31, 2020	209,891 million yen

2. Dividend information

		Cash dividends per share
	1Q	2Q	3Q	Year end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended	－	11.00	－	15.00	26.00
March 31, 2020
Year ending	－	15.00	－
March 31, 2021
Year ending
March 31, 2021					25.00	40.00
(forecast)

Note: There are changes in the forecasted dividend during the third quarter ended December 31, 2020.

- 1 -

3. Forecasts of operating results for the period from April 1, 2020 to March 31, 2021

(Percentages represent changes from same period in the previous fiscal year.)

							Net income
	Net sales		Operating income	Ordinary income	attributable to
		owners of the
							parent company
	Millions of yen	% Millions of yen	% Millions of yen	% Millions of yen	%
Year ending	295,000	4.5	38,000	2.2	37,000	5.2	24,500	35.9
March 31, 2021

Note: There are changes in the forecasted results during the third quarter ended December 31, 2020.

Net income per share

Yen

195.19

4. Note

1. Changes in principal subsidiaries during the nine months ended December 31, 2020: No Number of subsidiaries/Company Name Inclusion: - ; Exclusion; -
2. Adoption of specific accounting procedures for quarterly consolidated reporting: No
3. Changes in accounting policies and accounting estimates, and restatements
4. 1. Changes in accounting policies due to the revision of accounting standards: No
   2. Changes in accounting policies by the reasons other than "a.": No
   3. Changes in accounting estimates: No
   4. Restatement: No
5. Number of common shares outstanding :
6. 1. Number of common shares outstanding (including treasury stock):

As of December 31, 2020	130,218,481	shares	As of March 31, 2020
b. Number of treasury stock:
As of December 31, 2020	4,701,523	shares	As of March 31, 2020
c. Average number of common shares outstanding:
Nine months ended	125,511,704	shares	Nine months ended
December 31, 2020	December 31, 2019

130,218,481 shares

4,715,775 shares

126,150,221 shares

Others :

1. This financial press release is out of scope of the audit procedure.
2. Forecasts of operating results include a number of assumptions based on information currently available and certain premises which were judged to be rational. Please note that these forecasts may significantly differ from actual results with various factors.
3. TAIYO YUDEN will post the financial supplementary data on its web-site.

- 2 -

		Table of contents
1. Qualitative Information Concerning Financial Statements and Other .....................................	1
	(1)	Consolidated Operating Results......................................................................................	1
	(2)	Consolidated Financial Conditions .................................................................................	4
	(3)	Forecasts of Consolidated Operating Results .................................................................	4
2.	Consolidated Financial Statements ..........................................................................................	6
	(1)	Consolidated Balance Sheets ..........................................................................................	6
	(2)	Consolidated Statements of Operations and Consolidated Statements of
		Comprehensive Income...................................................................................................	8
		Consolidated Statements of Operations ..................................................................	8
		Consolidated Statements of Comprehensive Income..............................................	9
	(3)	Notes on Consolidated Financial Statements ................................................................	10
		(Notes on Premise of Going Concern) ..........................................................................	10
		(Notes in Case of Significant Changes to Shareholders' Equity)..................................	10
3.	Supplementary Information .................................................................................................	10
	(1)	Net Sales by Product Classification ..............................................................................	10

1. Qualitative Information Concerning Financial Statements and Other

1. Consolidated Operating Results Economy and Market Conditions

During the nine-month period ended December 31, 2020 (April 1, 2020 - December 31, 2020), the business environment surrounding the TAIYO YUDEN Group ("the Group") was extremely challenging for the global economy with economic activity restricted by the impact from the COVID-19 pandemic. Signs of a gradual recovery were seen in the global economy, which had faced extremely challenging conditions in the first quarter (the three-month period ended June 30, 2020). As for the future, the recovery trend is expected to continue, but it will be necessary to monitor infectious disease trends, trade issues in individual countries, and fluctuations in financial and capital markets.

Based on the Business Continuity Plan (BCP), we have implemented various measures to prevent the spread of COVID-19 and to ensure the health and wellbeing of stakeholders, including employees and suppliers. At production sites in Japan and overseas, we have continued production activities after ensuring thorough measures to prevent infection while following the instructions and guidance of national and local governments in each country. In addition, we are making efforts for non-production employees to carry out their duties and reduce the risk of infection by implementing such measures as working from home, depending on local infection status, in accordance with the instructions and requests on preventing the spread of infection from national and local governments in each country.

As a result of the current state of emergency due to COVID-19, there have been various changes in society and the management environment. The Group holds ¥73,959 million in cash and deposits, and has maintained a sound financial structure with an equity ratio of 59.9%. With commitment line agreements concluded with a number of financial institutions also standing at ¥30.0 billion, the Group has secured the means for responding to contingencies and will continue its business.

1