Tokyo Electron Device : 「Delayed」Summary of Consolidated Financial Results For The Third Quarter Ended December 31, 2021

Summary of Consolidated Financial Results

For The Third Quarter Ended December 31, 2021

[Japanese GAAP]

January 28, 2022

Company name:	TOKYO ELECTRON DEVICE LIMITED
Stock exchange listing:	Tokyo Stock Exchange 1st Section (Code 2760)
URL:	https://www.teldevice.co.jp/eng/
Representative:	Atsushi Tokushige, President & Representative Director
Contact:	Hiroki Tanaka, Director, Financial Department
TEL:	[phone]

(Amounts are rounded down to the nearest million yen.)

1. Consolidated Financial Highlights for the Third Quarter Ended December 31, 2021 (April 1, 2021 to December 31, 2021)

(1) Consolidated Operating Results (cumulative)

(% indicates changes from the same period of previous fiscal year.)

												Net income
		Net sales		Operating income		Ordinary income		attributable to
											owners of parent
		Millions of yen	%	Millions of yen	%		Millions of yen	%	Millions of yen	%
The Third Quarter		127,892	29.0	4,733	90.0			4,260	63.1	3,895	118.0
ended December 31, 2021
The Third Quarter		99,106	0.7	2,490	15.0			2,612	30.9	1,786	37.8
ended December 31, 2020
(Note) Comprehensive income: The Third Quarter ended December 31, 2021	4,488 million yen [158.3%]
		The Third Quarter ended December 31, 2020	1,737 million yen [25.4%]
		Basic net income		Diluted net income
		per share		per share
			Yen			Yen
The Third Quarter			390.44			-
ended December 31, 2021
The Third Quarter			177.68			-
ended December 31, 2020
(2) Consolidated Financial Position
		Total assets		Net assets	Equity ratio
		Millions of yen		Millions of yen			%
As of December 31, 2021		103,927			30,767		28.6
As of March 31, 2021			90,870			29,652		31.9
(Reference) Equity:	As of December 31, 2021 29,761 million yen	As of March 31, 2021	28,965 million yen

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. effective from the beginning of the first quarter ended June 30, 2021. The figures for the third quarter ended December 31, 2021, are the figures after the application of this accounting standard, etc.

2. Dividends

				Annual dividends per share
		End of 1Q		End of 2Q	End of 3Q		Year-end	Annual
		Yen		Yen	Yen		Yen	Yen
Fiscal year ended		-		40.00	-		85.00	125.00
March 31, 2021
Fiscal year ending		-		105.00	-
March 31, 2022
Fiscal year ending
March 31, 2022							100.00	205.00
(Forecast)
(Note) Revision of	dividends forecast: None

3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)

		(% indicates changes from the same	period of	previous fiscal year.)
						Net income		Basic net income
	Net sales			Ordinary income	attributable to owners
				per share
						of parent
	Millions of yen	%		Millions of yen	%	Millions of yen	%		Yen
Fiscal year ending	172,000	20.1		6,200	34.0	5,200	65.4		518.79
March 31, 2022
(Note) Revision of	financial forecasts: None
*Notes
(1) Changes of significant subsidiaries during the period	: None

1. Changes in accounting policies, accounting estimates, and restatements

1)	Changes due to revision of accounting standards	: Yes
2)	Changes in accounting standards other than 1)	: None
3)	Changes in accounting estimates	: None
4)	Restatements	: None

(3) Number of shares outstanding (common stock)

1) Number of shares outstanding at the end of the period (including treasury stock):

	December 31, 2021	10,445,500 shares
	March 31, 2021	10,445,500 shares
2) Number of shares of treasury stock at the end of the period:
	December 31, 2021	558,575 shares
	March 31, 2021	357,754 shares
3) Average number of shares outstanding during the period:
	The Third Quarter ended December 31,	9,976,457 shares
	2021
	The Third Quarter ended December 31,	10,053,945 shares
	2020

(Note) The Company has adopted the Directors' Compensation BIP (Board Incentive Plan) Trust and the ESOP (Employee Stock Ownership Plan) Trust, and the "Trust-Type Employee Shareholding Incentive Plan (E- Ship)", and has included the number of the Company's shares held by both Trusts accordingly in the number of shares of treasury stock.

*This quarterly financial report is outside the scope of an audit procedure by the Certified Public Accountant or the Audit firm.

*Explanation of the appropriate use of finance forecasts and other special notes

The financial forecasts and other estimates herein are based on currently available information and certain assumptions deemed reasonable at time of report issuance. The Company does not guarantee the achievement of these forecasts. Actual operating results may differ significantly from these forecasts due to various factors.

Consolidated Financial Statements and Segment Information

(1) Consolidated Balance Sheets

					(Millions of yen)
		FY 2021	FY 2022
		(As of Mar. 31, 2021)	(As of Dec. 31, 2021)
Assets
Current assets
Cash and deposits			5,680			6,618
Notes and accounts receivable - trade	39,543		-
Notes and accounts receivable - trade, and			-			42,369
contract assets
Electronically recorded monetary claims -	2,181	3,239
operating
Merchandise and finished goods			24,795			26,897
Raw materials	849	1,346
Other			9,677			13,505
Allowance for doubtful accounts	(6)	(6)
Total current assets			82,721			93,968
Non-current assets
Property, plant and equipment			1,820			3,702
Intangible assets	1,695	1,577
Investments and other assets
Retirement benefit asset	330	379
Other			4,350			4,347
Allowance for doubtful accounts	(47)	(47)
Total investments and other assets			4,633			4,679
Total non-current assets	8,149	9,959
Total assets			90,870			103,927

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	(Millions of yen)
FY 2021	FY 2022
(As of Mar. 31, 2021)	(As of Dec. 31, 2021)

Liabilities

Current liabilities

Accounts payable - trade

Short-term borrowings

Current portion of long-term borrowings Income taxes payable

Advances received

Provision for bonuses

Other

Total current liabilities

Non-current liabilities

Long-term borrowings

Retirement benefit liability

Other

Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders' equity Accumulated other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans

		11,187		13,593
		8,918	15,142
		4,040		4,840
		1,140	1,262
		10,201		14,318
		1,667	850
		2,841		3,041
		39,997	53,048
		12,375	11,045
		7,930		7,898
		914	1,167
		21,220		20,111
		61,217	73,160
		2,495		2,495
		5,652	5,652
		21,332		23,072
		(785)	(1,977)
		28,694		29,243
		73		42
		(225)	(56)
		186		345
		235	187

Total accumulated other comprehensive			270			518
income
Non-controlling interests	687	1,005
Total net assets			29,652			30,767
Total liabilities and net assets		90,870	103,927

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1. Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income

					(Millions of yen)
		FY 2021	FY 2022
		(from Apr. 1, 2020	(from Apr. 1, 2021
		to Dec. 31, 2020)	to Dec. 31, 2021)
Net sales			99,106			127,892
Cost of sales	85,058	110,212
Gross profit			14,047			17,680
Selling, general and administrative expenses
Salaries and allowances			4,992			5,192
Provision for bonuses	609	805
Retirement benefit expenses			485			472
Other	5,469	6,476
Total selling, general and administrative			11,556			12,946
expenses
Operating income	2,490	4,733
Non-operating income
Dividend income	2	32
Dividend income of insurance			33			44
Share of profit of entities accounted for using	57	54
equity method
Foreign exchange gains			44			-
Other	58	29
Total non-operating income			196			161
Non-operating expenses
Foreign exchange losses			-			554
Other	75	80
Total non-operating expenses			75			634
Ordinary income	2,612	4,260
Extraordinary income
Gain on sales of non-current assets	1	1
Gain on receipt of donated non-current assets			-			1,888
Gain on sales of investments in capital of			-	31
subsidiaries and affiliates
Total extraordinary income			1			1,921
Extraordinary losses
Loss on sales of non-current assets			0			0
Loss on retirement of non-current assets	8	5
Provision of allowance for doubtful accounts			0			0
of golf club membership
Loss on redemption of golf club membership			-	0
Loss on change in equity			19			-
Provision for loss on abolishment of trust			-	112
Total extraordinary losses			29			117
Net income before income taxes	2,584	6,064
Income taxes			741			1,824
Net income	1,842	4,240
Net income attributable to non-controlling			56			344
interests
Net income attributable to owners of parent		1,786	3,895

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