Ribomic : Summary of Non-Consolidated Financial Results for the Year Ended March 31, 2021 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results

for the Year Ended March 31, 2021

(Based on Japanese GAAP)

May 13, 2021

Company name:

RIBOMIC Inc.

Stock exchange listing:

Tokyo

Stock code:

4591

URL https://www.ribomic.com/

Representative:

President and CEO

Yoshikazu Nakamura

Inquiries:

Corporate Officer Finance and Accounting

Shoji Yonebayashi

TEL [phone]

Department

Scheduled date of ordinary general meeting of shareholders:

June 29, 2021

Scheduled date to file Securities Report:

June 30, 2021

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Non-consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Non-consolidated operating results

Percentages indicate year-on-year changes

Operating revenues

Operating income

Ordinary income

Profit

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Year ended March 31, 2021

91

(24.2)

(1,239)

-

(1,184)

-

(1,187)

-

Year ended March 31, 2020

121

-

(914)

-

(853)

-

(855)

-

Earnings per share

Diluted earnings per

Profit/equity

Ordinary

Operating

share

income/total assets

income/net revenues

Yen

Yen

%

%

%

Year ended March 31, 2021

(46.17)

-

(29.1)

(28.2)

-

Year ended March 31, 2020

(53.62)

-

(46.9)

(35.3)

(753.5)

Reference: Share of income of investments accounted for using the equity method.

Year ended March 31, 2021

¥ - Million

Year ended March 31, 2020

¥ - Million

Note: Diluted earnings per share is not shown because a net loss per share was incurred even though dilutive common shares exist.

(2) Non-consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of March 31, 2021

6,119

6,002

98.1

215.04

As of March 31, 2020

2,269

2,180

95.3

123.27

Reference: Equity

As of March 31, 2021

¥6,001

Million

As of March 31, 2020

¥2,164 Million

(3) Non-consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended March 31, 2021

(1,149)

(1,699)

4,988

3,338

Year ended March 31, 2020

(902)

553

536

1,199

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2. Cash dividends

		Annual dividends per share		Total cash	Dividend payout	Ratio of dividends
						ratio (Non-	to net assets (Non-
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total	dividends (Total)	consolidated)	consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Year ended March 31, 2020	-	0.00	-	0.00	0.00	-	-	-
Year ended March 31, 2021	-	0.00	-	0.00	0.00	-	-	-
Year ending March 31, 2022	-	0.00	-	0.00	0.00		-
(Forecast)

3. Forecast of non-consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

Percentages indicate year-on-year changes

	Operating revenues	Operating income		Ordinary income		Profit		Earnings per share
	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
Full year	80	(11.9)	(2,495)		-	(2,391)		-	(2,393)	-	(85.75)

Note: The Company only provides full-year forecasts as it manages its performance on an annual basis.

4. Notes

(1) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(2) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of March 31, 2021	27,908,784	shares	As of March 31, 2020	17,555,784	shares
Number of treasury shares at the end of the period
	As of March 31, 2021	- shares	As of March 31, 2020	- shares
Average number of shares during the period
	Year ended March 31, 2021	25,712,891	shares	Year ended March 31, 2020	15,944,883	shares

• This financial results report is exempt from the audit procedures.
• Explanation on appropriate use of business forecasts, and other special notes.

1.Business forecasts and other forward-looking statements contained in this report are based on information currently available to the company and on certain assumptions that the company considers to be reasonable, and do not constitute guarantees of future performance. Actual results may differ significantly from these forecasts due to various factors.

1. Supplementary materials are disclosed via TDnet and available on the company's website.
2. The company plans to hold a financial results meeting for institutional investors and analysts on May 14, 2021.

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Non-consolidated financial statements

Non-consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	1,601,728	3,338,038
Accounts receivable - trade	108,830	-
Securities	399,994	2,500,000
Supplies	6,364	3,038
Advance payments - trade	2,390	153,984
Prepaid expenses	18,764	18,358
Accounts receivable - other	1,831	201
Consumption taxes receivable	34,028	35,894
Other	1,661	823
Total current assets	2,175,594	6,050,339
Non-current assets
Property, plant and equipment
Buildings	22,555	22,851
Accumulated depreciation	(14,415)	(15,220)
Buildings, net	8,139	7,631
Tools, furniture and fixtures	270,053	268,436
Accumulated depreciation	(222,380)	(245,336)
Tools, furniture and fixtures, net	47,673	23,099
Total property, plant and equipment	55,812	30,731
Intangible assets
Software	1,626	151
Total intangible assets	1,626	151
Investments and other assets
Shares of subsidiaries and associates	22,552	22,552
Leasehold deposits	13,560	12,800
Long-term prepaid expenses	591	3,085
Total investments and other assets	36,704	38,438
Total non-current assets	94,143	69,320
Total assets	2,269,737	6,119,660
Liabilities
Current liabilities
Accounts payable - other	24,230	43,357
Accrued expenses	10,202	11,137
Income taxes payable	28,038	39,537
Advances received	6,875	3,666
Deposits received	6,442	6,262
Other	13,000	13,000
Total current liabilities	88,788	116,960
Total liabilities		88,788	116,960

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			(Thousands of yen)
		As of March 31, 2020	As of March 31, 2021
Net assets
Shareholders' equity
Capital Stock	4,029,956	6,542,185
Capital surplus
Legal capital surplus	4,002,956	6,515,185
Total capital surpluses	4,002,956	6,515,185
Retained earnings
Other retained earnings
Retained earnings brought forward	(5,868,737)	(7,055,932)
Total retained earnings	(5,868,737)	(7,055,932)
Total shareholders' equity	2,164,174	6,001,438
Share acquisition rights	16,773	1,261
Total net assets	2,180,948	6,002,699
Total liabilities and net assets		2,269,737	6,119,660

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Non-consolidated statements of income

			(Thousands of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Operating revenues	121,385	91,963
Operating expenses
Research and development expenses	673,605	957,605
Selling, general and administrative expenses	362,360	374,000
Total operating expenses	1,035,965	1,331,606
Operating loss	(914,580)	(1,239,643)
Non-operating income
Interest income	993	248
Subsidy income	74,855	82,727
Other	1,203	1,221
Total non-operating income	77,053	84,196
Non-operating expenses
Share issuance cost	14,305	20,414
Loss on redemption of bonds	2,000	-
Foreign exchange losses	-	9,137
Total non-operating expenses	16,305	29,552
Ordinary loss	(853,832)	(1,184,998)
Extraordinary losses
Loss on retirement of non-current assets	-	985
Total extraordinary losses	-	985
Loss before income taxes	(853,832)	(1,185,984)
Income taxes - current	1,210	1,210
Total income taxes	1,210	1,210
Loss		(855,042)	(1,187,194)

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