Yamatane : Consolidated Financial Results for the Six Months Ended September 30, 2021

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.

	Consolidated Financial Results
	for the Six Months Ended September 30, 2021
	[Japanese GAAP]
	November 5, 2021
Company name:	Yamatane Corporation
Stock exchange listing:	Tokyo Stock Exchange
Securities code:	9305
URL:	http://www.yamatane.co.jp
Representative:	Motohiro Yamazaki, Representative Director, President
Contact:	Ichiro Tasaki, General Manager, Accounting & Finance Department, Administration
	Division
Phone:	[phone]

Scheduled date for filing quarterly securities report: November 12, 2021

Scheduled date for commencing dividend payments: December 1, 2021

Preparation of supplementary briefing materials for quarterly financial results: Yes

Holding of quarterly financial results briefing: Yes (only through distribution of video recording)

(Amounts of less than one million yen are truncated.)

1. Consolidated financial results for the six months ended September 30, 2021 (April 1, 2021 to September 30, 2021)

(1) Consolidated operating results				(% indicates year-on-year change)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Six months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	September 30, 2021	23,271	-	1,348	(15.1)	1,187	(18.8)	694	(13.8)
	September 30, 2020	25,952	(6.3)	1,588	(17.4)	1,462	(12.7)	805	(26.4)

Note: Comprehensive income: Six months ended September 30, 2021: ¥1,487 million [ 128.2%]

		Six months ended September 30, 2020: ¥651 million [ (59.4)%]
		Basic earnings	Diluted earnings
		per share		per share
	Six months ended	Yen		Yen
	September 30, 2021	67.30		-
	September 30, 2020	78.03		-
	Note: The "Accounting	Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. has been
	adopted from the beginning of the first quarter ended June 30, 2021. As a result, net sales reflect the adoption of
	the accounting standard, etc., and the year-on-year percentage change is not presented.
(2) Consolidated financial position
		Total assets	Net assets	Equity ratio	Net assets per share
	As of	Million yen	Million yen	%	Yen
	September 30, 2021	124,372	43,849	33.0	3,980.75
	March 31, 2021	123,279	42,923	32.7	3,900.13

Reference: Equity: As of September 30, 2021: ¥41,095 million

As of March 31, 2021: ¥40,264 million

2. Dividends

			Annual dividends per share
		1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
Fiscal year ended		Yen	Yen		Yen	Yen	Yen
	-	0.00		-	52.00	52.00
March 31, 2021
Fiscal year ending		-	25.00
March 31, 2022
Fiscal year ending
March 31, 2022					-	30.00	55.00
(Forecast)

Note: Revision to the most recently announced forecast of dividends: None

3. Consolidated financial results forecast for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31, 2022)

							(% indicates year-on-year change)
							Profit		Basic earnings
	Net sales	Operating profit	Ordinary profit	attributable to
	per share
							owners of parent
Full year	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
48,100	-	3,000	-	2,710	-	1,650	-	159.82

Note: Revision to the most recently announced forecast of financial results: None

The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. has been adopted from the beginning of the first quarter ended June 30, 2021. As a result, the forecast of financial results reflects the adoption of the accounting standard, etc., and year-on-year percentage changes are not presented.

* Notes:

1. Changes in significant subsidiaries during the current period (changes in specified subsidiaries resulting in a change in the scope of consolidation): None
2. Application of special accounting methods for preparing quarterly consolidated financial statements: Yes
   (Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Primary Notes (3) Notes to Quarterly Consolidated Financial Statements: Application of special accounting methods for preparing quarterly consolidated financial statements" on page 9 of the Japanese version of the attached materials.
3. Changes in accounting policies, changes in accounting estimates, and retrospective restatements
4. 1. Changes in accounting policies due to application of revised accounting standards: Yes
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Retrospective restatements: None
5. Number of common shares issued
6. 1. Number of shares issued at the end of the period (including treasury shares):

As of September 30, 2021: 11,344,181 shares

As of March 31, 2021: 11,344,181 shares

1. Number of treasury shares at the end of the period: As of September 30, 2021: 1,020,560 shares As of March 31, 2021: 1,020,355 shares
2. Average number of common shares during the period:

Six months ended September 30, 2021: 10,323,724 shares

Six months ended September 30, 2020: 10,324,082 shares

• These quarterly financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
• Explanation on appropriate use of financial results forecasts and other matters of note
• • Financial results forecasts and other forward-looking statements provided in these materials are based on information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and are not intended to provide any assurance that they will be accomplished in the future. Actual financial results and other aspects of business performance may differ significantly from these forecasts owing to various factors. Please refer to "1. Qualitative Information on Quarterly Financial Results for the Period under Review (3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the Japanese version of the attached materials for conditions forming the basis for financial results forecasts, notes regarding the use of financial results forecasts, and other information.

Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheet

						(Million yen)
			Previous fiscal year	Second quarter under review
			(As of March 31, 2021)	(As of September 30, 2021)
Assets
Current assets
Cash and deposits	16,529	13,055
Notes and accounts receivable - trade	5,668		-
Notes and accounts receivable - trade, and				-		5,444
contract assets
Inventories	1,587	1,444
Other	4,020	4,516
Allowance for doubtful accounts		(0)	(0)
Total current assets	27,804	24,460
Non-current assets
Property, plant and equipment
Buildings and structures, net	16,938	23,144
Land	50,405	50,405
Construction in progress	6,290	3,603
Other, net		7,071	6,964
Total property, plant and equipment		80,706	84,118
Intangible assets	984	966
Investments and other assets
Investment securities	12,231	13,288
Other	1,419	1,382
Allowance for doubtful accounts	(96)	(36)
Total investments and other assets			13,554	14,634
Total non-current assets	95,245	99,718
Deferred assets			228	193
Total assets		123,279	124,372

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					(Million yen)
			Previous fiscal year	Second quarter under review
			(As of March 31, 2021)	(As of September 30, 2021)
Liabilities
Current liabilities
Trade accounts payable	2,916	2,021
Short-term borrowings	4,406	5,417
Current portion of long-term borrowings	5,154	5,104
Current portion of bonds payable	4,186	4,168
Other	4,696	3,954
Total current liabilities			21,359	20,666
Non-current liabilities
Bonds payable	24,232	23,723
Long-term borrowings	20,850	21,439
Provision for environmental measures	2	2
Retirement benefit liability	1,676	1,622
Asset retirement obligations	2,325	2,332
Other	9,908	10,736
Total non-current liabilities			58,996	59,856
Total liabilities	80,355	80,523
Net assets
Shareholders' equity
Share capital	10,555	10,555
Capital surplus	3,747	3,747
Retained earnings	21,341	21,499
Treasury shares	(2,233)	(2,234)
Total shareholders' equity			33,411	33,569
Accumulated other comprehensive income
Valuation difference on available-for-sale	4,003	4,674
securities
Revaluation reserve for land	2,872	2,872
Remeasurements of defined benefit plans	(24)	(20)
Total accumulated other comprehensive				6,852		7,526
income
Non-controlling interests			2,659	2,753
Total net assets	42,923	43,849
Total liabilities and net assets			123,279	124,372

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