Nitto Denko : Summary of Consolidated Financial Statements for the Third Quarter Ended December 31, 2021 (IFRS Basis)

Date: January 26, 2022

Preliminary

Summary of Consolidated Financial Statements

for the Third Quarter Ended December 31, 2021 (IFRS Basis)

Listed company name:	Nitto Denko Corporation
Stock exchange listing:	First Section of Tokyo Stock Exchange
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:

January 28, 2022

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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 third quarter ended December 31, 2021 (April 1, 2021 through December 31, 2021)
(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
Third quarter ended		646,271		14.1	108,334			42.7	108,669	44.1	77,976	41.4	77,898		41.4	89,827		64.1
December 31, 2021
Third quarter ended		566,210		-0.8	75,902			26.1	75,389	25.9	55,158	29.2	55,106		29.2	54,739		53.1
December 31, 2020
		Basic earnings per share		Diluted earnings per share
					Yen				Yen
Third quarter ended					526.37					526.10
December 31, 2021
Third quarter ended					370.38					370.12
December 31, 2020
(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					%
December 31, 2021					1,036,976					775,562			774,683					74.7
March 31, 2021					965,901					716,686			715,868					74.1
2. Dividends
									Dividends per share
		1Q		2Q		3Q		Year-end	Annual
				yen				yen		yen		yen			yen
March, 2021				-				100.00		-		100.00			200.00
March, 2022				-				110.00		-
March, 2022 (Forecast)												110.00			220.00

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

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3. Forecast for fiscal year ending March 31, 2022 (April 1, 2021 through March 31, 2022)

(% 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
Annual	855,000		12.3	133,000	41.8	133,000	42.5	95,000	35.1	95,000	35.3	641.93

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

• Others
• 1. Changes in significant subsidiaries during the third quarter ended December 31, 2021: 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)

	December 31, 2021:	149,758,428	March 31, 2021: 149,758,428
2.	Number of treasury stock at the end of the period
	December 31, 2021:	1,756,178	March 31, 2021: 1,792,681
3.	Average number of outstanding shares during the period (cumulative from the beginning of the period)
	April-December 2021: 147,991,538	April-December 2020: 148,784,734

• 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 (nine months)					(Yen in Millions)
				Third quarter ended		Third quarter ended
				December 31, 2020		December 31, 2021
				(April 1, 2020		(April 1, 2021
				through December 31, 2020)		through December 31, 2021)
				Revenue		Revenue			Y-o-Y (%)
Industrial Tape	Revenue		216,706		249,101			114.9
Operating income		20,875		30,845			147.8
		Information Fine Materials	283,220	276,200	97.5
Optronics	Flexible Printed Circuits		40,420		72,872			180.3
Total		323,641		349,072			107.9
		Operating income		62,633		74,076			118.3
Life Science	Revenue		21,389		39,729			185.7
Operating income		-1,440		8,996			-
Others	Revenue		17,850		21,067			118.0
Operating income		-4,269		-4,030			-
Corporate/Elimination	Revenue		-13,378		-12,700			-
Operating income		-1,896		-1,555			-
Total	Revenue		566,210		646,271			114.1
Operating income	75,902	108,334	142.7

(Note) Previously, Industrial Tape was divided into Functional Base Products and Transportation. However, as a result of changes in the management structure that have been made during the fiscal year 2021, Functional Base Products and Transportation have been integrated and described as Industrial Tape. Such changes have also been reflected in the figures for the third quarter ended December 31, 2020.

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(Reference) Segment Information (three months)					(Yen in Millions)
				Third quarter ended		Third quarter ended
				December 31, 2020		December 31, 2021
				(October 1, 2020		(October 1, 2021
				through December 31, 2020)		through December 31, 2021)
				Revenue		Revenue			Y-o-Y (%)
Industrial Tape	Revenue		83,733		84,078			100.4
Operating income		12,404		9,979			80.5
		Information Fine Materials	99,437	91,124	91.6
Optronics	Flexible Printed Circuits		16,489		27,974			169.7
Total		115,926		119,099			102.7
		Operating income		24,865		25,989			104.5
Life Science	Revenue		7,590		14,284			188.2
Operating income		-124		2,612			-
Others	Revenue		6,050		7,068			116.8
Operating income		-1,905		-1,992			-
Corporate/Elimination	Revenue		-4,829		-4,210			-
Operating income		-1,704		-1,064			-
Total	Revenue		208,472		220,319			105.7
Operating income	33,534	35,525	105.9

(Note) Previously, Industrial Tape was divided into Functional Base Products and Transportation. However, as a result of changes in the management structure that have been made during the fiscal year 2021, Functional Base Products and Transportation have been integrated and described as Industrial Tape. Such changes have also been reflected in the figures for the third quarter ended December 31, 2020.

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(Reference) Segment Information (annual forecast)			(Yen in Millions)
				Forecasts of fiscal year ending March 31, 2022
				Revenue		Y-o-Y (%)
Industrial Tape	Revenue		330,000		111.1
Operating income		37,000		135.5
		Information Fine Materials	362,500	97.2
Optronics	Flexible Printed Circuits		95,000		169.5
Total		457,500		106.7
		Operating income		93,000		115.2
Life Science	Revenue		56,000		187.6
Operating income		13,000		-
Others	Revenue		27,500		118.2
Operating income		-6,000		-
Corporate/Elimination	Revenue		-16,000		-
Operating income		-4,000		-
Total	Revenue		855,000		112.3
Operating income	133,000	141.8

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