Nitto Denko : Quarterly Financial Summary

Date: July 26, 2022

Preliminary

Summary of Consolidated Financial Statements

for the First Quarter Ended June 30, 2022 (IFRS Basis)

Listed company name:	Nitto Denko Corporation
Stock exchange listing:	Tokyo Stock Exchange, Prime Market
Code Number:	6988	URL	https://www.nitto.com/
Company Representative:	Hideo Takasaki, President
Contact Person:	Yasuhiro Iseyama, Executive Vice President, Director of Corporate Accounting & Finance Division
Phone:	[phone]

Filing date of quarterly financial statements: Estimated starting date of dividend paying: Preparation of supplementary explanatory materials: Holding of quarterly earnings release conference:

July 28, 2022

-

Yes

Yes (for investment analysts and institutional investors)

								(All monetary values noted herein are rounded down to the nearest million yen)
1. Consolidated financial results of the first quarter ended June 30, 2022 (April 1, 2022 through June 30, 2022)
(1) Operating results										(% of change from same period in the previous year)
													Net income	Total
					Operating	Income before			attributable to
		Revenue		Net income	comprehensive
			income	income taxes	owners of the
							income
													parent company
		Millions		%	Millions		%	Millions	%	Millions	%	Millions	%	Millions		%
		of yen		of yen		of yen	of yen	of yen	of yen
First quarter ended		216,368		6.2	38,520			29.6	38,674	30.5	26,458	26.8	26,439		26.8	61,159		169.2
June 30, 2022
First quarter ended		203,715		24.7	29,720			70.4	29,643	72.0	20,870	73.2	20,844		73.2	22,716		100.9
June 30, 2021
		Basic earnings per share		Diluted earnings per share
					Yen				Yen
First quarter ended					178.63					178.55
June 30, 2022
First quarter ended					140.87					140.80
June 30, 2021
(2) Financial position
											Equity attributable to owners		Ratio of equity attributable to
		Total assets				Total equity			owners of the parent company
					of the parent company
													to total assets
				Millions of yen			Millions of yen		Millions of yen					%
June 30, 2022					1,142,860					862,794			861,888					75.4
March 31, 2022					1,094,469					822,105			821,192					75.0
2. Dividends
									Dividends per share
		1Q		2Q		3Q		Year-end	Annual
				Yen				Yen		Yen		Yen			Yen
March, 2022				-				110.00		-		110.00			220.00
March, 2023				-
March, 2023 (Forecast)								120.00		-		120.00			240.00

(Note) Revision of dividend forecast in the current quarter: No

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3. Forecast for fiscal year ending March 31, 2023 (April 1, 2022 through March 31, 2023)

(% of change from same period in the previous year)

										Net income
	Revenue		Operating income	Income before	Net income	attributable to	Basic earnings
		income taxes	owners of the	per share
										parent company
	Millions		%	Millions	%	Millions	%	Millions	%	Millions	%	Yen
	of yen		of yen	of yen	of yen	of yen
First half	490,000		15.0	95,000	30.5	95,000	30.8	68,000	30.3	68,000	30.4	459.42
Annual	955,000		11.9	160,000	21.0	160,000	20.9	115,000	18.3	115,000	18.4	776.96

(Note) Revision of consolidated forecast in the current quarter: Yes

• Others
• 1. Changes in significant subsidiaries during the first quarter ended June 30, 2022: No
  2. Changes in accounting policies applied and changes in accounting estimates
  3. 1. Changes in accounting policies required by IFRS: No
     2. Changes in accounting policies other than the above: No
     3. Changes in accounting estimates: No
  4. Number of shares outstanding (Common stock)
  5. 1. Number of shares outstanding at the end of the period (including treasury stock)

	June 30, 2022:	149,758,428	March 31, 2022: 149,758,428
2.	Number of treasury stock at the end of the period
	June 30, 2022:	1,744,811	March 31, 2022: 1,744,778
3.	Average number of outstanding shares during the period (cumulative from the beginning of the period)
	April-June 2022: 148,013,617	April-June 2021: 147,970,047

• These quarterly financial results are not subject to quarterly review procedures by Certified Public Accountants or audit firm.
• Explanations for adequate utilization of the forecast and other special matters

The forward-looking statements shown in this report, including the forecast, are prepared based on information available to the Company and on certain assumptions deemed reasonable as of the issuing date of the report. Consequently, the statements herein do not constitute promises regarding actual results by the Company. Actual results may differ materially from forecasted figures due to various unknown factors.

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(Reference) Segment Information					(Yen in Millions)
				First quarter ended June 30, 2021		First quarter ended June 30, 2022
				(April 1, 2021		(April 1, 2022
				through June 30, 2021)		through June 30, 2022)
				Revenue		Revenue			Y-o-Y (%)
Industrial Tape	Revenue		82,542		83,626			101.3
Operating income		10,717		8,394			78.3
		Information Fine Materials	89,163	84,804	95.1
Optronics	Flexible Printed Circuits		17,563		26,627			151.6
Total		106,727		111,432			104.4
		Operating income		17,315		25,669			148.2
		Life Science	11,901	17,945	150.8
Human Life	Membrane		7,037		7,840			111.4
Total		18,939		25,786			136.2
		Operating income		3,504		4,961			141.5
Others	Revenue		-		0			-
Operating income		-1,361		-1,382			-
Corporate/Elimination	Revenue		-4,493		-4,477			-
Operating income		-457		877			-
Total	Revenue		203,715		216,368			106.2
Operating income	29,720	38,520	129.6

(Note) Since "Human Life" has been newly established in the reporting segments from FY2022, partial changes have been made to reporting segments. "Human Life" includes "Life Science" and "Membrane" which was previously included in "Others". Such changes have also been reflected in the figures for the first quarter ended June 30, 2021.

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(Reference) Segment Information (annual forecast)			(Yen in Millions)
				Forecasts of fiscal year ending March 31, 2023
				Revenue		Y-o-Y (%)
Industrial Tape	Revenue		345,000		108.0
Operating income		41,500		109.8
		Information Fine Materials	370,000	101.7
Optronics	Flexible Printed Circuits		115,000		120.0
Total	485,000	105.5
		Operating income		119,000		123.2
		Life Science	60,000	115.5
		Membrane	29,500	106.5
Human Life	Personal Care Materials		53,500		426.4
		Total	143,000	155.1
		Operating income		11,000		152.1
Others	Revenue		0		-
Operating income		-6,500		-
Corporate/Elimination	Revenue		-18,000		-
Operating income		-5,000		-
Total	Revenue		955,000		111.9
Operating income	160,000	121.0

(Note) Some changes have been made to reporting segments as follows.

1. The personal care components business of Mondi, acquired in the first quarter of FY2022, will be newly established as "Personal Care Materials" in the "Human Life".
2. Certain related businesses has been transferred from "Industrial Tape" to "Personal Care Materials".

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2. Quarterly Consolidated Financial Statements

(1) Quarterly consolidated statements of financial position

			(Yen in Millions)
	March 31, 2022		June 30, 2022
(Assets)
Current assets
Cash and cash equivalents	362,046	264,024
Trade and other receivables	206,084	215,386
Inventories	128,318	156,646
Other financial assets	4,939	2,639
Other current assets	21,349		28,635
Total current assets	722,738	667,331
Non-current assets
Property, plant and equipment	286,949	323,981
Right-of-use assets	13,681	15,498
Goodwill	4,809	65,342
Intangible assets	13,707	14,411
Investments accounted for using equity method	547	452
Financial assets	12,131	12,136
Deferred tax assets	24,131	27,931
Other non-current assets	15,772		15,775
Total non-current assets	371,730		475,528
Total assets	1,094,469	1,142,860

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