Consolidated Financial Results For the Second Quarter Ended September 30, 2021 （PDF/306.5 KB）

October 29, 2021

Consolidated Financial Results

For the Second Quarter Ended September 30, 2021

Company name： IBIDEN CO., LTD.
Stock exchange listings： Tokyo and Nagoya Stock Exchange	(Code number：4062)
URL： https://www.ibiden.com/
Representative： Takeshi Aoki, President & CEO, Representative Director
Contact： Hisashi Sano, Vice President of Strategic Corporate Planning Operation
(Tel. [phone])
Filing date of quarterly securities report： November 4, 2021
										(Amounts less than one million yen are omitted)
1. Consolidated Financial Results for FY 2021 Second quarter (From April 1, 2021 to September 30, 2021)
(1) Operating results				(Percentage figures indicate the change from the same period of the prior fiscal year)
	Net sales			Operating profit		Ordinary profit	Profit (loss) attributable
				to owners of parent
	Million yen	%		Million yen	%		Million yen	%	Million yen	%
FY 2021 2nd quarter	195,832	36.0		35,018	130.7		35,786	121.8	22,254	90.5
FY 2020 2nd quarter	143,991	(0.3)		15,182	98.5		16,134	90.4	11,684	199.9
Note： Comprehensive income
FY 2021 2nd quarter：	24,340 million yen	(38.2%)		FY 2020 2nd quarter：	17,611 million yen	(-%)
	Basic earnings		Diluted earnings
	per share			per share
	Yen				Yen
FY 2021 2nd quarter		159.41				-
FY 2020 2nd quarter		83.61				-
(2) Financial positions
	Total assets			Net assets		Capital adequacy ratio	Net assets per share
	Million yen			Million yen		%			Yen
FY 2021 2nd quarter		620,706				343,302		54.3		2,416.22
FY 2020		578,518				321,863		54.6		2,262.99
Note： Owner's equity
As of September 30, 2021 ：	337,324 million yen		As of March 31, 2021 ：	315,914 million yen

2. Notes

1. Material changes in subsidiaries during this period ： None
2. Applying of specific accounting of the consolidated quarterly financial statements： Yes

The provision for income taxes is computed by multiplying profit before income taxes by estimated annual effective tax rates.

1. Changes in accounting policies, accounting estimates and retrospective restatement (ⅰ) Changes in accounting policies based on revisions of accounting standard: Yes

(Applying Accounting Standard for Revenue Recognition)

"Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020. Hereinafter "Revenue Recognition Standard") and related guidelines have been adopted from the beginning of the current first quarter. In line with this adoption, revenue is recognized upon the transfer of controls for promised goods or services to customers in an amount that reflects the consideration they expect to be entitled to in exchange for those goods or services.

As a result, net sales increased by 890 million yen, cost of sales increased by 1,133 million yen and operating profit, ordinary profit, and profit before income taxes for the current first quarter decreased by 242 million yen. In addition, the balance of retained earnings at the beginning of the current first quarter decreased by 18 million yen.

As a result of the adoption of the Revenue Recognition Standard, "Notes and accounts receivable - trade" which was presented in "Current assets" of the consolidated balance sheet for the previous fiscal year, is included in "Notes and accounts receivable - trade, and contract assets" from the first quarter of the current fiscal year. Following the transitional treatment outlined in Article 89-2 of the Revenue Recognition Standard, consolidated financial statements for past periods have not been reclassified using the new presentation method.

(ⅱ) Changes in accounting policies other than the above: None

(ⅲ) Changes in accounting estimates: None

(ⅳ) Retrospective restatement: None

(4) Number of shares issued and outstanding (common stock)

(ⅰ) Number of shares outstanding (including treasury stock)：

	As of September 30, 2021	140,860,557 shares	As of March 31, 2021	140,860,557 shares
(ⅱ) Number of treasury stock ：
	As of September 30, 2021	1,252,131 shares	As of March 31, 2021	1,260,507 shares
(ⅲ) Average number of shares:：
	FY 2021 2nd quarter	139,607,935 shares	FY 2020 2nd quarter	139,744,695 shares

• This quarterly financial result is not subject to auditing firms' quarterly review procedure.

Consolidated balance sheet

			(Million yen)
	As of	As of	Increase
	Sep 30,2021	Mar 31,2021	(Decrease)
Assets
Current assets
Cash and deposits	146,231	126,884	19,346
Notes and accounts receivable - trade, and contract	104,427	-	104,427
assets
Notes and accounts receivable - trade	-	89,796	(89,796)
Merchandise and finished goods	17,875	13,653	4,222
Work in process	17,386	18,734	(1,348)
Raw materials and supplies	25,714	24,636	1,078
Other current assets	11,153	11,769	(615)
Allowance for doubtful accounts	(93)	(109)	15
Total current assets	322,695	285,364	37,330
Non-current assets
Property, plant and equipment
Buildings and structures	75,892	78,782	(2,890)
Machinery, equipment and vehicles	78,499	70,773	7,726
Land	20,167	19,971	195
Lease assets	242	246	(3)
Construction in progress	36,137	38,590	(2,452)
Other - property, plant and equipment	7,253	6,463	789
Total property, plant and equipment	218,193	214,828	3,365
Intangible assets	5,383	5,392	(8)
Investments and other assets
Investment securities	68,954	68,198	756
Long-term loans receivable	8	8	(0)
Deferred tax assets	3,750	3,488	262
Other assets	2,564	1,480	1,084
Allowance for doubtful accounts	(843)	(242)	(601)
Total investments and other assets	74,434	72,933	1,500
Total non-current assets	298,011	293,153	4,857
Total assets	620,706	578,518	42,188
			(Continued)

			(Million yen)
	As of	As of	Increase
	Sep 30,2021	Mar 31,2021	(Decrease)
Liabilities and net assets
Liabilities
Current liabilities
Notes and accounts payable - trade	47,935	45,717	2,217
Short-term loans payable	20,030	20,130	(100)
Current portion of bonds	20,000	15,000	5,000
Accounts payable - other	12,601	17,492	(4,890)
Income taxes payable	9,127	5,624	3,502
Provision for bonuses	5,432	4,802	630
Provision for bonuses for directors	-	155	(155)
Provision for loss on liquidation of subsidiaries and	183	225	(41)
associates
Notes payable - facilities	3,694	8,606	(4,912)
Other - current liabilities	17,305	14,144	3,160
Total current liabilities	136,310	131,899	4,410
Non-current liabilities
Bonds payable	50,000	35,000	15,000
Long-term loans payable	80,000	80,044	(44)
Lease obligations	177	172	4
Deferred tax liabilities for land revaluation	68	68	-
Retirement benefit liability	1,126	1,078	48
Provision for share-based compensation	412	352	60
Deferred tax liabilities	7,038	7,117	(79)
Other - non-current liabilities	2,270	921	1,349
Total non-current liabilities	141,093	124,755	16,338
Total liabilities	277,404	256,655	20,748
			(Continued)