Eiken Chemical : Consolidated Financial Results for the Three Months Ended June 30, 2022 PDF

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Three Months Ended June 30, 2022

[Japanese GAAP]

												July 26, 2022
Company name: EIKEN CHEMICAL CO.,LTD.
Stock exchange listing: Tokyo
Code number: 4549
URL: https://www.eiken.co.jp
Representative: Tsugunori Notomi				President & CEO
Contact: Hajime Watari					Senior Vice President & Executive Officer
Phone: [phone]
Scheduled date of filing quarterly securities report: August 05, 2022
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No
							(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 01, 2022 to June 30, 2022)
(1) Consolidated Operating Results				(% indicates changes from the previous corresponding period.)
		Net sales			Operating profit		Ordinary profit		Profit attributable to
						owners of parent
Three months ended		Million yen		%		Million yen	%		Million yen	%		Million yen	%
June 30, 2022		11,097		5.5		2,799	8.0		2,844	8.0		2,169	9.9
June 30, 2021		10,514		28.0		2,592	155.1		2,633	155.3		1,974	158.4

(Note) Comprehensive income:	Three months ended June 30, 2022:
	Three months ended June 30, 2021:

¥	2,235 million	[	13.0%]
¥	1,977 million	[	156.0%]

	Basic earnings		Diluted earnings per
	per share		share
Three months ended		Yen	Yen
June 30, 2022		58.70	58.24
June 30, 2021		53.47	53.06

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Million yen		Million yen	%	Yen
June 30, 2022	62,398		46,909	74.6	1,260.02
March 31, 2022	62,512		45,803	72.8	1,230.55
(Reference) Equity: As of	June 30, 2022:	¥	46,575 million
As of	March 31, 2022:	¥	45,486 million

2. Dividends

											Annual dividends
							1st		2nd		3rd		Year-end			Total
					quarter-end		quarter-end	quarter-end
							Yen			Yen			Yen		Yen		Yen
Fiscal year ended March 31, 2022			-		20.00			-		31.00		51.00
Fiscal year ending March 31, 2023			-
Fiscal year ending March 31, 2023					17.00			-		18.00		35.00
(Forecast)
(Note) Revision to the forecast for dividends announced most recently:	No
(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2023 :
Commemorative dividend	-	yen
Special dividend				-	yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)
									(% indicates changes from the previous corresponding period.)
			Net sales			Operating profit	Ordinary profit		Profit attributable	Basic earnings
						to owners of parent	per share
			Million yen		%		Million yen	%	Million yen		%		Million yen		%		Yen
Six months ended			20,100		(5.8)		2,820	(41.6)		2,840		(42.0)		2,180		(40.5)	59.01
September 30, 2022
Full year			40,000		(7.0)		4,540	(45.9)		4,570		(46.3)		3,610		(42.0)	97.66
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):	No
New	-	(Company name:															)
Exclusion:	-	(Company name:															)
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:	Yes

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: No
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

June 30, 2022:	43,541,438	shares
March 31, 2022:	43,541,438	shares
2) Total number of treasury shares at the end of the period:
June 30, 2022:	6,576,861	shares
March 31, 2022:	6,576,861	shares

3) Average number of shares during the period:
Three months ended June 30, 2022:	36,964,577	shares
Three months ended June 30, 2021:	36,931,883	shares

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

					(Million yen)
				As of March 31,2022	As of June 30,2022
Assets
	Current assets
		Cash and deposits	16,121	15,976
		Notes and accounts receivable - trade, and contract	11,956	11,576
		assets
		Merchandise and finished goods	4,673	4,657
		Work in process	1,736	1,787
		Raw materials and supplies	1,821	1,963
		Other	733	956
		Allowance for doubtful accounts	(4)	(4)
		Total current assets	37,039	36,913
	Non-current assets
		Property, plant and equipment
		Buildings and structures	20,090	20,187
			Accumulated depreciation	(12,343)	(12,527)
			Buildings and structures, net	7,747	7,659
		Machinery, equipment and vehicles	6,936	7,013
			Accumulated depreciation	(5,434)	(5,530)
			Machinery, equipment and vehicles, net	1,501	1,482
		Tools, furniture and fixtures	4,562	4,632
			Accumulated depreciation	(3,874)	(3,945)
			Tools, furniture and fixtures, net	688	687
		Land	1,931	1,931
		Leased assets	299	299
			Accumulated depreciation	(195)	(212)
			Leased assets, net	103	86
		Construction in progress	3,302	3,420
		Total property, plant and equipment	15,275	15,268
		Intangible assets	1,350	1,290
		Investments and other assets
		Long-term time deposits	1,900	1,900
		Other	6,961	7,041
		Allowance for doubtful accounts	(14)	(14)
		Total investments and other assets	8,847	8,926
		Total non-current assets	25,473	25,485
	Total assets	62,512	62,398

				(Million yen)
			As of March 31,2022	As of June 30,2022
Liabilities
	Current liabilities
		Notes and accounts payable - trade	4,495	4,482
		Electronically recorded obligations - operating	2,961	3,097
		Income taxes payable	1,305	777
		Provision for bonuses	776	382
		Other	2,994	2,565
		Total current liabilities	12,533	11,305
	Non-current liabilities
		Bonds payable	3,000	3,000
		Asset retirement obligations	34	34
		Other	1,141	1,150
		Total non-current liabilities	4,175	4,184
	Total liabilities	16,708	15,489
Net assets
	Shareholders' equity
		Share capital	6,897	6,897
		Capital surplus	8,000	8,000
		Retained earnings	33,162	34,186
		Treasury shares	(3,126)	(3,126)
		Total shareholders' equity	44,934	45,958
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	33	35
		securities
		Foreign currency translation adjustment	258	326
		Remeasurements of defined benefit plans	259	255
		Total accumulated other comprehensive income	551	617
	Share acquisition rights	316	333
	Total net assets	45,803	46,909
Total liabilities and net assets	62,512	62,398

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the three months)

		(Million yen)
	For the three months	For the three months
	ended June 30,2021	ended June 30,2022
Net sales	10,514	11,097
Cost of sales	5,303	5,546
Gross profit	5,210	5,550
Selling, general and administrative expenses	2,618	2,750
Operating profit	2,592	2,799
Non-operating income
Interest income	4	4
Dividend income	1	1
Rental income	4	5
Outsourcing service income	22	9
Subsidy income	-	10
Foreign exchange gains	2	10
Other	7	8
Total non-operating income	42	49
Non-operating expenses
Interest expenses	0	3
Other	0	0
Total non-operating expenses	1	4
Ordinary profit	2,633	2,844
Extraordinary income
Gain on sale of non-current assets	0	-
Gain on sale of investment securities	-	49
Total extraordinary income	0	49
Extraordinary losses
Loss on sale and retirement of non-current assets	0	0
Total extraordinary losses	0	0
Profit before income taxes	2,633	2,894
Income taxes	658	724
Profit	1,974	2,169
Profit attributable to non-controlling interests	-	-
Profit attributable to owners of parent	1,974	2,169