Tokyo Ohka Kogyo : Consolidated financial statements, Notes to the consolidated financial statements （530.10 KB）

Appendix

TOKYO OHKA KOGYO CO., LTD. and Subsidiaries

Fiscal year ended December 31, 2021 (January 1, 2021 ― December 31, 2021)

Consolidated financial statements,

Notes to consolidated financial statements

TOKYO OHKA KOGYO CO., LTD. and Consolidated Subsidiaries

Consolidated Balance Sheets

December 31, 2021 and 2020

									Thousands of
			Millions of yen			U.S. dollars
ASSETS				(Note 1)
	2021			2020			2021
CURRENT ASSETS:
Cash and deposits (Notes 7 and 19)	¥	40,469	¥	41,728	$	351,910
Time deposits (Note 19)		16,366			6,094			142,314
Trade notes and accounts (Note 19)		33,895			26,302			294,741
Securities (Notes 7, 8 and 19)		3,999			2,999			34,782
Inventories (Note 9)		21,350			17,659			185,659
Prepaid expenses and other current assets		2,921			2,255			25,404
Allowance for doubtful accounts		(120)			(96)			(1,045)
Total current assets		118,883			96,943			1,033,767
PROPERTY, PLANT AND EQUIPMENT (Note 10):
Land		8,662			8,589			75,327
Buildings and structures		76,095			71,891			661,701
Machinery and equipment		64,907			60,264			564,413
Furniture and fixtures		23,429			21,757			203,735
Right-of-use assets		984			553			8,559
Construction in progress		3,896			4,566			33,886
Total		177,976			167,622			1,547,623
Accumulated depreciation		(121,043)			(114,510)			(1,052,555)
Net property, plant and equipment		56,932			53,112			495,068
INVESTMENTS AND OTHER ASSETS:
Intangible assets		837			620			7,284
Investment securities (Notes 8 and 19)		16,505			17,604			143,526
Investments in and advances to an unconsolidated
subsidiary and associated companies		7			7			65
Investment in capital		100			100			869
Net defined benefit asset (Note 12)		4,658			3,683			40,506
Deferred tax assets (Note 16)		504			346			4,389
Long-term time deposits (Note 19)		18,000			28,000			156,521
Other assets		834			768			7,253
Total investments and other assets		41,447			51,130			360,417
TOTAL	¥	217,264	¥	201,185	$	1,889,253
See notes to consolidated financial statements.

1

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Trade notes and accounts (Note 19)

Short-term loans payable

Construction and other payables

Income taxes payable

Accrued expenses

Provisions

Other current liabilities

Total current liabilities

NON-CURRENT LIABILITIES:

Long-term loans payable (Note 11 and 19)

Deferred tax liabilities (Note 16)

Net defined benefit liability (Note 12)

Asset retirement obligations (Note 13)

Other non-current liabilities

Total non-current liabilities

EQUITY (Notes 14 and 22):

Common stock - authorized, 197,000,000 shares in 2021 and 2020

• issued, 42,600,000 and 45,100,000 shares in 2021 and 2020 Capital surplus
  Retained earnings
  Treasury stock - at cost, 2,439,651 shares in 2021 and 3,591,418 shares in 2020
  Accumulated other comprehensive income: Unrealized gain on available-for-sale securities Foreign currency translation adjustments Remeasurements of defined benefit plans
  Total
  Stock acquisition rights Non-controlling interests

Total equity

TOTAL

2

							Thousands of
	Millions of yen			U.S. dollars
			(Note 1)
	2021			2020			2021
¥	19,250	¥	13,745	$	167,393
	3,900			－			33,913
	5,227			3,520			45,460
	4,278			2,219			37,202
	2,488			2,002			21,635
	3,107			2,658			27,024
	1,404			1,046			12,209
	39,656			25,193			344,839
	6,711			10,962			58,365
	1,614			2,046			14,035
	609			484			5,299
	81			81			708
	3,399			2,423			29,564
	12,416			15,997			107,972
	14,640			14,640			127,308
	15,207			15,207			132,242
	124,806			125,795			1,085,270
	(11,818)			(14,477)			(102,765)
	6,851			7,669			59,578
	5,618			2,606			48,858
	522			113			4,546
	155,829			151,556			1,355,038
	215			304			1,872
	9,146			8,133			79,530
	165,190			159,994			1,436,441
¥	217,264	¥	201,185	$	1,889,253

TOKYO OHKA KOGYO CO., LTD. and Consolidated Subsidiaries

Consolidated Statement of Income

Years Ended December 31, 2021 and 2020

									Thousands of
			Millions of yen			U.S. dollars
					(Note 1)
			2021			2020			2021
NET SALES	¥	140,055	¥	117,585	$	1,217,872
COST OF SALES (Notes 9, 15 and 17)		90,529			76,372			787,217
Gross profit		49,525			41,212			430,655
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES (Notes 12, 15 and 17)		28,817			25,623			250,589
Operating income		20,707			15,589			180,065
OTHER INCOME (EXPENSES):
Interest and dividend income		530			474			4,614
Foreign exchange gain - net		477			27			4,152
Interest expense		(72)			(60)			(630)
Loss on valuation of derivatives		(162)			(52)			(1,416)
Treasury stock acquisition cost		(50)			－			(440)
Gain on sale of investment securities		4,820			2			41,919
Impairment loss on long-lived assets (Note 10)		(439)			(605)			(3,823)
Loss on retirement of non-current assets		(163)			(58)			(1,417)
Loss on valuation of investment securities (Note 8)		－			(269)			－
Environmental costs		(83)			－			(721)
Other-net		234			303			2,041
Other income (expenses) - net		5,091			(239)			44,276
INCOME BEFORE INCOME TAXES AND NON-CONTROLLING
INTERESTS		25,799			15,349			224,342
INCOME TAXES (Note 16):
Current		6,464			3,123			56,216
Deferred		(191)			225			(1,668)
Total income taxes		6,273			3,349			54,548
NET INCOME BEFORE NON-CONTROLLING INTERESTS		19,526			12,000			169,793
NON-CONTROLLING INTERESTS IN NET INCOME		1,777			2,073			15,455
PROFIT ATTRIBUTABLE TO OWNERS OF THE PARENT	¥	17,748	¥	9,926	$	154,338

3

TOKYO OHKA KOGYO CO., LTD. and Consolidated Subsidiaries

Consolidated Statement of Income

Years Ended December 31, 2021 and 2020

			Yen				U.S. dollars
		2021				2020			2021
PER SHARE OF COMMON STOCK (Notes 14 and 22):
Basic earnings per share	¥	430.73	¥	239.42	$	3.74
Diluted earnings per share		429.91				238.78			3.73
Cash dividends attributable to the year		156.00				154.00			1.35

See notes to consolidated financial statements.

4