VALQUA : posted summary of its FY ended March 2021 3rd Quarter results.

January 27, 2021

Summary of Consolidated Financial Results

for the Third Quarter of the Fiscal Year Ending March 31, 2021

VALQUA, LTD. (7995)

English translation from the original Japanese-language document

(All financial information has been prepared in accordance with accounting principles generally accepted in Japan)

Consolidated Balance Sheets

						(Millions of yen)
		As of March 31, 2020				As of December 31, 2020
Assets
Current assets
Cash and deposits	6,644		6,872
Notes and accounts receivable - trade	11,357		11,917
Electronically recorded monetary claims -	1,885		2,066
operating
Merchandise and finished goods	3,000		3,175
Work in process	646		830
Raw materials and supplies	1,369		1,304
Other	1,922		1,994
Allowance for doubtful accounts			14			15
Total current assets		26,811		28,146
-				-
Non-current assets
Property, plant and equipment
Buildings and structures, net	6,278		5,855
Land	4,005		4,002
Other, net		5,582		6,624
Total property, plant and equipment		15,866		16,482
Intangible assets
Other		906		1,265
Total intangible assets		906		1,265
Investments and other assets
Investment securities	2,982		3,152
Other	1,561		1,493
Allowance for doubtful accounts				0				3
Total investments and other assets		4,544		4,641
	-				-
Total non-current assets		21,317		22,389
Total assets		48,128		50,535

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					(Millions of yen)
		As of March 31, 2020	As of December 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade		5,190			4,981
Short-term borrowings		1,782			1,959
Current portion of long-term borrowings		130			111
Income taxes payable		362			389
Provision for bonuses		430			237
Provision for bonuses for directors (and		38			45
other officers)
Other			2,581			2,858
Total current liabilities		10,517		10,583
Non-current liabilities
Long-term borrowings		1,158			2,052
Retirement benefit liability		534			459
Other			987			1,547
Total non-current liabilities			2,680			4,059
Total liabilities		13,197		14,643
Net assets
Shareholders' equity
Share capital	13,957		13,957
Capital surplus		3,963			3,979
Retained earnings	16,558		17,068
Treasury shares			1,635			1,573
Total shareholders' equity		32,843		33,432
-			-
Accumulated other comprehensive income
Valuation difference on available-for-sale		1,054			1,540
securities
Foreign currency translation adjustment		131			358
Remeasurements of defined benefit plans		-432			-300
Total accumulated other comprehensive		-			-
	490			881
income
Non-controlling interests			1,596			1,578
Total net assets		34,930		35,892
Total liabilities and net assets		48,128		50,535

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Consolidated Statements of Income

					(Millions of yen)
			Nine months ended	Nine months ended
			December 31, 2019	December 31, 2020
Net sales	36,561		32,748
Cost of sales	22,782		19,947
Gross profit	13,778		12,800
Selling, general and administrative expenses	10,426		10,555
Operating profit	3,352		2,245
Non-operating income
Interest income	4		2
Dividend income	51		43
Rental income from facilities	170		284
Share of profit of entities accounted for using		8		6
equity method
Other	82		138
Total non-operating income	319		475
Non-operating expenses
Interest expenses	55		51
Rental expenses on facilities	144		237
Foreign exchange losses	52		9
Other	48		29
Total non-operating expenses	300		328
Ordinary profit	3,371		2,393
Extraordinary income
Gain on sales of investment securities	103		916
Other	5		2
Total extraordinary income	108		919
Extraordinary losses
Loss on abandonment of non-current assets	17		11
Impairment loss		ï¼	49
Loss on sales of investment securities		ï¼	46
Compensation expenses for health damage		ï¼		34
caused by asbestos
Other	4		0
Total extraordinary losses	21		141
Profit before income taxes	3,457		3,170
Income taxes - current	777		824
Income taxes - deferred	212		146
Total income taxes	989		970
Profit	2,468		2,199
Profit attributable to non-controlling interests	74		9
Profit attributable to owners of parent		2,393		2,190

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Consolidated Statements of Comprehensive Income

							(Millions of yen)
		Nine months ended					Nine months ended
		December 31, 2019					December 31, 2020
Profit	2,468		2,199
Other comprehensive income
Valuation difference on available-for-sale		331		487
securities
Foreign currency translation adjustment		486		232
Remeasurements of defined benefit plans, net	-				-
		67		132
of tax
Share of other comprehensive income of				7			1
entities accounted for using equity method
Total other comprehensive income				94		386
	-	-			-
Comprehensive income		2,373		2,586
Comprehensive income attributable to
Comprehensive income attributable to owners	2,335		2,580
of parent
Comprehensive income attributable to non-			37			5
controlling interests

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