ULVAC : Summary of Financial Results for FY2021

September 29, 2022

September 30, 2022

September 29, 2022 Yes

Yes (for domestic institutional investors and analysts)

Note: 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.

August 9, 2022

	Consolidated Financial Results for the Fiscal Year
	Ended June 30, 2022 (Under Japanese GAAP)
Company name:	ULVAC, Inc.
Listing:	Tokyo Stock Exchange
Securities code:	6728
URL:	https://www.ulvac.co.jp/en/
Representative:	Setsuo Iwashita, President and CEO
Inquiries:	Akira Umeda, Officer, General Manager of IR Department
Telephone:	[phone]

Scheduled date of ordinary general meeting of shareholders:

Scheduled date to commence dividend payments:

Scheduled date of filing annual securities report:

Preparation of supplementary material on financial results:

Holding of financial results briefing:

(Yen amounts are rounded to the nearest million, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended June 30, 2022 (from July 1, 2021 to June 30, 2022)

(1) Consolidated operating results					(Percentages indicate year-on-year changes.)
		Net sales		Operating profit	Ordinary profit		Profit attributable to
					owners of parent
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
June 30, 2022	241,260		31.8	30,061	74.8		32,200	79.2		20,211	36.3
June 30, 2021		183,011		(1.3)	17,197	7.8		17,966	(0.5)		14,830	37.7
Note: Comprehensive income	For the fiscal year ended June 30, 2022:		¥29,063 million	[66.2%]
		For the fiscal year ended June 30, 2021:		¥17,483 million	[83.3%]
	Basic earnings	Diluted earnings	Return on equity	Ordinary profit to		Operating profit to
	per share	per share	total assets		net sales
Fiscal year ended		Yen		Yen			%		%			%
June 30, 2022		410.37		-			11.4		10.0			12.5
June 30, 2021		301.12		-			9.2		6.2			9.4
Reference: Share of profit (loss) of entities accounted for using equity method:
		For the fiscal year ended June 30, 2022:		¥861 million
		For the fiscal year ended June 30, 2021:		¥569 million

Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the current fiscal year, and each figure for the fiscal year ended June 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations.

(2) Consolidated financial position

		Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of		Millions of yen	Millions of yen	%	Yen
June 30, 2022		354,304	196,484	53.3	3,837.17
June 30, 2021		292,761	173,699	57.0	3,388.87
Reference: Equity
	As of June 30, 2022:	¥188,977 million
	As of June 30, 2021:	¥166,899 million

Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the current fiscal year, and each figure for the fiscal year ended June 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations.

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at end of
	operating activities	investing activities	financing activities
	period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
June 30, 2022	33,931	(7,432)	(6,445)	107,106
June 30, 2021	25,520	(6,925)	(16,061)	83,061

2. Cash dividends

		Annual dividends per share		Total	Payout ratio	Dividend on
	First	Second	Third	Fiscal	Total	dividend	(Consolidated)	equity
	quarter-end	quarter-end	quarter-end	year-end	(Annual)	(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	-	-	95.00	95.00	4,688	31.5	2.9
June 30, 2021
Fiscal year ended	-	-	-	124.00	124.00	6,120	30.2	3.4
June 30, 2022
Fiscal year ending
June 30, 2023	-	-	-	141.00	141.00		30.2
(Forecast)

3. Consolidated earnings forecasts for the fiscal year ending June 30, 2023 (from July 1, 2022 to June 30, 2023)

(Percentages indicate year-on-year changes.)

								Profit attributable to	Basic
	Net sales		Operating profit	Ordinary profit	earnings per
		owners of parent
								share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Six months ending	118,000		11.7	13,500	18.3	14,000	16.2	9,200	13.1	186.81
December 31, 2022
Fiscal year ending	250,000		3.6	34,500	14.8	35,500	10.2	23,000	13.8	467.01
June 30, 2023

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2022	49,355,938 shares
As of June 30, 2021	49,355,938 shares

(ii) Number of treasury shares at the end of the period

As of June 30, 2022	106,961 shares
As of June 30, 2021	106,931 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended June 30, 2022	49,248,995 shares
Fiscal year ended June 30, 2021	49,248,649 shares

[Reference] Summary of non-consolidated financial results

Non-consolidated financial results for the fiscal year ended June 30, 2022 (from July 1, 2021 to June 30, 2022)

(1) Non-consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales			Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
June 30, 2022	108,458		32.8	11,287	361.6	21,596	114.0	18,656	43.7
June 30, 2021	81,690		(16.1)	2,445	(25.7)	10,093	(18.8)	12,979	26.8
	Basic earnings		Diluted earnings
	per share		per share
Fiscal year ended	Yen			Yen
June 30, 2022	378.75			-
June 30, 2021	263.51			-

Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the current fiscal year, and each figure for the fiscal year ended June 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations.

(2) Non-consolidated financial position

		Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of		Millions of yen	Millions of yen	%	Yen
June 30, 2022		230,448	126,352	54.8	2,565.25
June 30, 2021		198,532	113,705	57.3	2,308.49
Reference: Equity
	As of June 30, 2022:	¥126,352 million
	As of June 30, 2021:	¥113,705 million

Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the current fiscal year, and each figure for the fiscal year ended June 30, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations.

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  The forward-looking statements, including the earnings forecasts shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. As such, they do not constitute guarantees by the Company of future performance. Actual performance and other results may differ materially from these forecasts due to various factors.

ULVAC, Inc. (Securities code: 6728)

Consolidated Financial Results for the Fiscal Year Ended June 30, 2022

3. Consolidated financial statements and significant notes

(1) Consolidated balance sheet

			(Millions of yen)
		As of June 30, 2021	As of June 30, 2022
Assets
Current assets
Cash and deposits	91,545	118,040
Notes and accounts receivable - trade	66,289	-
Notes and accounts receivable - trade, and contract	-	86,331
assets
Merchandise and finished goods	4,064	4,500
Work in process	22,785	29,090
Raw materials and supplies	10,309	15,849
Other	7,858	10,562
Allowance for doubtful accounts	(319)	(525)
Total current assets	202,530	263,847
Non-current assets
Property, plant and equipment
Buildings and structures	83,821	85,821
Accumulated depreciation	(55,500)	(58,939)
Buildings and structures, net	28,321	26,883
Machinery, equipment and vehicles	79,326	78,272
Accumulated depreciation	(60,073)	(62,537)
Machinery, equipment and vehicles, net	19,253	15,735
Tools, furniture and fixtures	14,098	14,682
Accumulated depreciation	(12,651)	(12,908)
Tools, furniture and fixtures, net	1,448	1,774
Land	8,480	8,360
Leased assets	4,516	5,079
Accumulated depreciation	(1,549)	(1,922)
Leased assets, net	2,967	3,157
Construction in progress	5,617	9,087
Total property, plant and equipment	66,086	64,995
Intangible assets
Leased assets	34	27
Software	1,347	1,603
Other	2,115	2,085
Total intangible assets	3,496	3,715
Investments and other assets
Investment securities	7,360	6,882
Deferred tax assets	6,385	6,990
Other	8,763	9,869
Allowance for doubtful accounts	(1,859)	(1,995)
Total investments and other assets	20,649	21,746
Total non-current assets	90,231	90,457
Total assets		292,761	354,304