Tokyo Seimitsu : Consolidated Financial Statements for First Quarter of the Fiscal Year Ending March 31st, 2022 (FY2022/3), Japan GAAP

Consolidated Financial Statements for First Quarter of the Fiscal Year

Ending March 31st, 2022 (FY2022/3), Japan GAAP

August 3rd, 2021

Company Name

Tokyo Seimitsu Co., Ltd.

Stock Listing: First Section TSE

ACCRETECH

Code number: 7729

(URL: https://www.accretech.jp/)

Representative: Hitoshi Yoshida, President and CEO

Tel: [phone]

Inquiries: Koichi Kawamura, Representative Director and CFO

Date of Quarterly Financial Statement Filing (planned) : August 6th, 2021

Dividend Payment Date (planned): -

Supplementary Document for Quarterly Financial Results : Yes

Holding of Financial Results Meeting: No

(Millions of yen, rounded down)

1. Consolidated Results for 1st Quarter of FY2022/3 (April 1st - June 30th, 2021)

(1) Consolidated sales and earnings

(Percentage figures represent changes from previous year)

Net Sales

Operating Profit

Recurring Profit

Net Profit Attributable to

(Millions of Yen)

(Millions of Yen)

(Millions of Yen)

Owners of the Parent

(Millions of Yen)

FY2022/3 Q1

28,937

37.3%

5,995

88.7%

6,019

79.9%

4,352

76.2%

FY2021/3 Q1

21,070

17.3%

3,176

76.2%

3,345

76.5%

2,470

76.1%

Note: Comprehensive Income in FY2022/3 Q1: 4,718 million yen (185.1%), in FY2021/3 Q1: 1,655 million yen (66.9%)

	Net Profit per Share (Yen)	Net Profit per Share (diluted)
	(Yen)
FY2022/3 Q1	105.98	104.93
FY2021/3 Q1	59.30	58.88

(2) Consolidated financial position

	Total Assets (Millions of Yen)	Net Assets (Millions of Yen)	Equity Ratio
FY2022/3 Q1	167,967	118,923	70.0%
FY2021/3	161,556	116,777	71.4%

Note: Equity in FY2022/3 Q1: 117,574 million yen, in FY2021/3: 115,368 million yen

2. Dividends

		Per Share Dividend in Fiscal Year
	Q1 End	Q2 End	Q3 End		Q4 End	Total
	Yen	Yen	Yen		Yen	Yen
FY2021/3	-	42.00	-		62.00	104.00
FY2022/3	-
FY2022/3		65.00	-		65.00	130.00
(Projected)
Note: Changes due to revision of dividend	projection: No

3. Forecast for FY2022/3 (April 1st, 2021 - March 31st, 2022)		(% figures represent changes from the previous year)
	Net Sales		Operating Profit	Recurring Profit		Net Profit attributable to	Net Profit
			Owners of the Parent
	(Millions of Yen)	(Millions of Yen)	(Millions of Yen)		per Share (yen)
		(Millions of Yen)
Interim	59,000		30.8%	10,800	71.9%	10,800		68.4%		7,500	60.4%	182.70
Full Year	118,000		21.5%	22,000	41.4%	22,000		38.6%		15,200	24.8%	370.30
Note: Changes	due to revision of forecast: No

• Notes

1. Significant changes in subsidiaries during the term under review: No
2. Accounting procedures specific to the preparation of quarterly consolidated financial statements: No
3. Changes in accounting principles, estimates and restatements
4. 1. Changes due to revision of accounting standards, etc.: Yes
   2. Changes other than 1): No
   3. Changes in accounting estimates: No
   4. Restatement: No
5. Number of shares outstanding (common shares)

1. Number of shares outstanding at the end of period (including treasury shares):
2. Number of treasury shares at the end of period:
3. Average Number of shares outstanding during the period:

FY2022/3 Q1	41,819,881	shares	FY2021/3	41,759,981	shares
FY2022/3 Q1	715,278	shares	FY2021/3	715,164	shares
FY2022/3 Q1	41,063,521	shares	FY2021/3 Q1	41,663,872	shares

• This consolidated financial statements report is not subject to audit procedures.
• Cautionary Statements with respect to Forward-looking Statements

All forecasts and other forward-looking statements in this document are based on information currently available to the Company and assumptions that the Company considers reasonable. Various uncertainties could cause actual results to significantly differ from these forecasts. Please refer to supplementary statement.

* Cautionary Statements with respect to the translation of the document

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

	Tokyo Seimitsu Co., Ltd. (7729)
	Consolidated Financial Statements for 1st Quarter of FY2022/3
Contents of supplementary statement
1. Qualitative information on Business Performance for 1st quarter of FY2022/3 ........................................	2
(1)	Overview of Business Performance...........................................................................................................	2
(2)	Analysis of Financial Position ...................................................................................................................	3
(3)	Financial Estimates such as Consolidated Business Forecasts for current Fiscal Year .............................	3
2. Consolidated Financial Statements and Notes ..............................................................................................	4
(1)	Consolidated Balance Sheet.......................................................................................................................	4
(2)	Consolidated Statements of Income, and Comprehensive Income............................................................	6
(3)	Notes to Consolidated Financial Statements..............................................................................................	8
	(Note on Assumptions for Going Concern) ...............................................................................................	8
	(Significant Changes in Shareholder's Equity)..........................................................................................	8
	(Changes in Accounting Principles) ..........................................................................................................	8
	(Segment Information and others) .............................................................................................................	9

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Tokyo Seimitsu Co., Ltd. (7729)

Consolidated Financial Statements for 1st Quarter of FY2022/3

1. Qualitative information on Business Performance for 1st quarter of FY2022/3

(1) Overview of Business Performance

In the 1st quarter of Fiscal Year ending March 2022 (FY2022/3), worldwide economies are expected to see positive impacts from the expansion COVID-19 of vaccination rollouts in developed countries such as European countries and Japan, along with the economic recovery already underway in China and the USA that have advanced COVID-19 vaccinations. Under these circumstances, the demand for semiconductors among various industries increased and entire manufacturing industries show signs of recovery. On the other hand, there are some unforeseen situations including the shortage of semiconductors and related materials.

Under these business conditions, Consolidated Orders in the 1st quarter of Fiscal Year 2022/3 (April 1st, 2021 - June 30th, 2021) were ¥41,711 million (up 123.6% YoY), Sales were ¥28,937 million (up 37.3% YoY), Operating Profit was ¥5,995 million (up 88.7% YoY), Recurring Profit was ¥6,019 million (up 79.9% YoY), and Net Profit Attributable to Owners of the Parent was ¥4,352 million (up 76.2% YoY).

Business results during the term in each segment were as follows.

[Semiconductor Production Equipment (SPE) Segment]

In the SPE business segment, in addition to the solid demand for Logic devices and electronic components continuing from FY2021/3 for the expansion of 5G networks and remote work, the demand for automotive semiconductors and power semiconductors underpinned by the active development of Electric Vehicles was steady. In addition, demand from China focused on expanding their semiconductor industry remains strong. Consequently, Orders in the period remain at high levels as seen in the previous quarter. Production and shipments were at high levels as well.

As a result, Orders for our SPE segment in the same period was ¥33,853 million (up 162.4% YoY), Sales was ¥22,796 million (up 47.7% YoY), and Operating Profit was ¥5,328 million (up 88.2% YoY).

[Metrology Equipment Segment]

In our Metrology Equipment segment, capital investment across the entire manufacturing sector shifted to gradual recovery from the stagnated situation from COVID-19, and the automotive industry, that is our main customer, showed a steady recovering. Also, on the back of market expansion efforts in NEV, Healthcare, and Precision machinery areas, both Orders and Sales increased in the Metrology segment YoY.

As a result, Orders for our Metrology Equipment segment in the same period was ¥7,858 million (up 36.6% YoY), Sales was ¥6,141 million (up 8.9% YoY) and Operating Profit was ¥666 million (up 93.5% YoY).

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Tokyo Seimitsu Co., Ltd. (7729)

Consolidated Financial Statements for 1st Quarter of FY2022/3

(2) Analysis of Financial Position

[Assets, Liabilities and Net Assets]

Total Assets as at June 30th, 2021 amounted to ¥167,967 million, an increase of ¥6,411 million from the end of FY2021/3. The major factors behind this change include increases in Cash and cash equivalents of ¥5,362 million, in Inventories including merchandise and finished goods, Raw materials and supplies and Work in progress of ¥2,560 million, and in Notes and accounts receivable (including electronically recorded monetary claims) of ¥700 million.

Total Liabilities increased by ¥4,265 million to ¥49,043 million. This was mainly from an increase in Notes and accounts payable (including electronically recorded obligations-operating) of ¥3,891 million and decreases in Income taxes payable of ¥2,083 million and in Long-term debt of ¥1,000 million.

Net Assets increased by ¥2,145 million and totaled ¥118,923 million; the Equity Ratio came to 70.0%.

(3) Financial Estimates such as Consolidated Business Forecasts for current Fiscal Year

There are no revisions to the Consolidated Business Forecasts for Fiscal Year 2022/3 previously announced on May 10th , 2021.

Note: The forecasts contain forward-looking statements based on information available to the management at the time of this announcement that it has judged to be rational, including such factors as economic conditions in Japan and other countries or fluctuations in exchange rates, which may affect the Company's performance. These forecasts are subject to a number of risks and uncertainties, including market conditions, competition, and new product releases. Accordingly, actual results may differ materially from those projected in this earnings summary.

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