Tayca : (Delayed)Summary of Consolidated Financial Results for the Year Ended March 31,2021(Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

		Summary of Consolidated Financial Results
		for the Year Ended March 31, 2021
		(Based on Japanese GAAP)
		May 12, 2021
Company name:	TAYCA CORPORATION
Stock exchange listing:	Tokyo
Stock code:	4027	URL http://www.tayca.co.jp/

Representative:	Representative Director	Hirofumi Yamazaki
President Executive Officer
	Senior Executive Officer
Inquiries:	General Manager	Yasuyuki Nakatsuka	TEL [phone]
	General Affairs Department
Scheduled date of ordinary general meeting of shareholders:	June 25, 2021
Scheduled date to file Securities Report:	June 28, 2021
Scheduled date to commence dividend payments:	June 8, 2021
Preparation of supplementary material on financial results:	No
Holding of financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Consolidated operating results												Percentages indicate year-on-year changes
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Millions of yen		%	Millions of yen		%	Millions of yen	%		Millions of yen		%
Year ended March 31, 2021	38,402		(15.5)	2,927		(49.6)		2,740	(52.7)	1,927		(49.7)
Year ended March 31, 2020	45,435		(4.1)	5,808		0.1		5,798	(3.9)	3,830		(4.4)
	Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
			share			owners of				assets			sales
							parent/equity
		Yen			Yen			%						%				%
Year ended March 31, 2021		83.16			-			4.0						4.1				7.6
Year ended March 31, 2020		163.70			-			8.4						9.1				12.8
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio	Net assets per share
	Millions of yen	Millions of yen					%						Yen
As of March 31, 2021		69,177					50,230					72.1				2,152.62
As of March 31, 2020		63,554					46,940					73.3				2,010.70
(3) Consolidated cash flows
	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities		at end of period
	Millions of yen	Millions of yen	Millions of yen		Millions of yen
Year ended March 31, 2021				4,953					(4,905)					2,519						13,250
Year ended March 31, 2020				5,165					(5,498)					(2,346)					10,713
2. Cash dividends
					Annual dividends per share					Total cash		Dividend payout	Ratio of dividends
															to net assets
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
	Yen				Yen	Yen		Yen	Yen	Millions of yen		%			%
Year ended March 31, 2020	-			18.00	-		22.00	40.00		933		24.4			2.0
Year ended March 31, 2021	-			18.00	-		18.00	36.00		834		43.3			1.7
Year ending March 31, 2022	-			18.00	-				18.00	36.00				46.3
(Forecast)
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3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit			Profit attributable to	Earnings per share
					owners of parent
Six months ending	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen		%	Yen
20,200	-	1,150		-	1,350		-		900		-	38.83
September 30, 2021
Full year	42,200	-	2,200		-	2,800		-		1,800		-	77.67
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2021			No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:						No
Changes in accounting estimates:									No
Restatement of prior period financial statements:						No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of March 31, 2021	25,714,414	shares	As of March 31, 2020	25,714,414	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	2,538,667	shares	As of March 31, 2020	2,538,313	shares
Average number of shares during the period
	Year ended March 31, 2021	23,176,061	shares	Year ended March 31, 2020	23,398,215	shares

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Consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	10,792	13,329
Notes and accounts receivable - trade	13,302	11,395
Merchandise and finished goods	6,913	7,164
Work in process	982	1,116
Raw materials and supplies	3,728	3,342
Other	546	634
Allowance for doubtful accounts	(2)	(2)
Total current assets	36,261	36,979
Non-current assets
Property, plant and equipment
Buildings and structures, net	5,151	6,724
Machinery, equipment and vehicles, net	5,646	7,774
Land	1,699	1,695
Construction in progress	2,959	936
Other, net	444	493
Total property, plant and equipment	15,901	17,624
Intangible assets
Goodwill	1,858	1,536
Other	274	230
Total intangible assets	2,133	1,767
Investments and other assets
Investment securities	8,435	11,797
Long-term prepaid expenses	481	637
Deferred tax assets	71	71
Other	292	323
Allowance for doubtful accounts	(23)	(23)
Total investments and other assets	9,258	12,806
Total non-current assets	27,293	32,198
Total assets		63,554	69,177

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			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	4,787	3,914
Short-term borrowings	605	465
Current portion of long-term borrowings	754	1,950
Income taxes payable	1,034	442
Provision for bonuses	405	350
Other	3,346	2,875
Total current liabilities	10,934	9,999
Non-current liabilities
Long-term borrowings	1,652	4,038
Lease obligations	89	56
Deferred tax liabilities	608	1,692
Long-term accounts payable - other	16	9
Provision for environmental measures	1	-
Retirement benefit liability	3,236	3,152
Other	75	-
Total non-current liabilities	5,679	8,948
Total liabilities	16,613	18,947
Net assets
Shareholders' equity
Share capital	9,855	9,855
Capital surplus	6,766	6,766
Retained earnings	28,551	29,551
Treasury shares	(2,458)	(2,459)
Total shareholders' equity	42,714	43,714
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	4,008	6,370
Deferred gains or losses on hedges	(85)	61
Foreign currency translation adjustment	112	(187)
Remeasurements of defined benefit plans	(151)	(71)
Total accumulated other comprehensive income	3,885	6,173
Non-controlling interests	340	341
Total net assets	46,940	50,230
Total liabilities and net assets		63,554	69,177

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

			(Millions of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Net sales	45,435	38,402
Cost of sales	33,072	29,377
Gross profit	12,362	9,025
Selling, general and administrative expenses	6,554	6,097
Operating profit	5,808	2,927
Non-operating income
Interest income	3	1
Dividend income	225	213
Compensation income	-	162
Income on conpensation	-	119
Foreign exchange gains	-	24
Other	68	210
Total non-operating income	296	732
Non-operating expenses
Interest expenses	45	50
Loss on abandonment of inventories	81	19
Costs related to the suspension of operations	-	826
Foreign exchange losses	87	-
Other	92	23
Total non-operating expenses	307	918
Ordinary profit	5,798	2,740
Extraordinary income
Compensation for forced relocation	-	180
Gain on sale of investment securities	425	129
Total extraordinary income	425	309
Extraordinary losses
Impairment losses	309	-
Loss on retirement of non-current assets	162	261
Loss on valuation of investments in capital	25	48
Head office relocation expenses	-	12
Loss on valuation of investment securities	14	-
Loss on sale of golf club membership	4	-
Total extraordinary losses	515	321
Profit before income taxes	5,708	2,728
Income taxes - current	1,864	829
Income taxes - deferred	(8)	(49)
Total income taxes	1,855	779
Profit	3,852	1,949
Profit attributable to non-controlling interests	22	22
Profit attributable to owners of parent		3,830	1,927

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