C Uyemura : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2022 (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 Consolidated Financial Results
		for the Three Months Ended June 30, 2022
		(Based on Japanese GAAP)
				August 8, 2022
Company name:	C. Uyemura & Co., Ltd.
Stock exchange listing:	Tokyo
Stock code:	4966	URL https://www.uyemura.co.jp/
Representative:	President		Hiroya Uyemura
Inquiries:	Director and Head of Corporate Management	Shigeo Sakabe	TEL [phone]
	Division
Scheduled date to file Quarterly Securities Report:	August 8, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
(1) Consolidated operating results (cumulative)						Percentages indicate year-on-year changes
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Millions of yen		%		Millions of yen	%	Millions of yen		%	Millions of yen	%
Three months ended June 30, 2022	20,187		28.1		3,866	37.8	4,294		42.1	3,663	72.9
Three months ended June 30, 2021	15,760		28.1		2,804	43.0	3,022		46.0	2,118	27.7
	Earnings per share			Diluted earnings per share
				Yen			Yen
Three months ended June 30, 2022			217.57			-
Three months ended June 30, 2021			121.03			-
(2) Consolidated financial position
	Total assets				Net assets	Equity ratio		Net assets per share
	Millions of yen			Millions of yen				%		Yen
As of June 30, 2022	100,211				77,576				77.4	4,667.65
As of March 31, 2022	101,189				78,712				77.8	4,567.35

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2022	-	0.00	-	130.00	130.00
Year ending March 31, 2023	-
Year ending March 31, 2023 (Forecast)		0.00	-	180.00	180.00

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Earnings per share
				owners of parent
Six months ending	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
35,300	6.9	6,400		2.8	6,700		2.1	5,500	21.0	317.91
September 30, 2022
Full year	75,000	3.7	14,000		0.4	14,600		(0.0)	10,900	12.6	630.03

1

4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) 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

(4) Number of issued shares (common shares)

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

	As of June 30, 2022	19,756,080	shares	As of March 31, 2022	19,756,080	shares
Number of treasury shares at the end of the period
	As of June 30, 2022	3,135,992	shares	As of March 31, 2022	2,522,368	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2022	16,838,321	shares	Three months ended June 30, 2021	17,506,037	shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	31,052,681	30,183,568
Notes and accounts receivable - trade, and contract assets	21,291,971	21,089,725
Securities	51,629	52,777
Merchandise and finished goods	4,462,996	4,618,434
Work in process	2,740,296	2,633,800
Raw materials and supplies	3,752,141	3,915,113
Other	2,763,683	3,112,966
Allowance for doubtful accounts	(118,500)	(136,031)
Total current assets	65,996,900	65,470,354
Non-current assets
Property, plant and equipment
Buildings and structures	23,200,066	23,640,410
Accumulated depreciation	(14,565,835)	(14,970,308)
Buildings and structures, net	8,634,230	8,670,101
Machinery, equipment and vehicles	12,386,592	13,054,218
Accumulated depreciation	(10,089,611)	(10,705,963)
Machinery, equipment and vehicles, net	2,296,981	2,348,254
Land	6,100,030	5,826,219
Leased assets	632,136	633,678
Accumulated depreciation	(172,631)	(202,466)
Leased assets, net	459,504	431,212
Construction in progress	80,488	110,562
Other	5,906,725	6,120,220
Accumulated depreciation	(4,795,595)	(4,969,484)
Other, net	1,111,130	1,150,735
Total property, plant and equipment	18,682,365	18,537,086
Intangible assets	332,714	334,643
Investments and other assets
Investment securities	14,786,928	14,463,238
Retirement benefit asset	187,004	176,781
Deferred tax assets	572,463	575,444
Other	705,357	731,593
Allowance for doubtful accounts	(74,571)	(77,732)
Total investments and other assets	16,177,182	15,869,325
Total non-current assets	35,192,261	34,741,054
Total assets		101,189,162	100,211,409

3

			(Thousands of yen)
		As of March 31, 2022	As of June 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	4,113,405	3,121,371
Electronically recorded obligations - operating	4,233,185	4,606,253
Short-term borrowings	457,789	461,700
Lease liabilities	198,163	208,729
Income taxes payable	2,680,544	2,267,629
Contract liabilities	3,255,950	3,816,636
Provision for bonuses	170,901	115,751
Provision for bonuses for directors (and other officers)	213,050	53,262
Other	2,146,079	2,683,606
Total current liabilities	17,469,070	17,334,940
Non-current liabilities
Long-term guarantee deposits	680,334	681,176
Lease liabilities	460,663	454,958
Deferred tax liabilities	2,142,944	2,350,454
Retirement benefit liability	1,111,771	1,176,137
Long-term accounts payable - other	255,664	255,664
Other	356,401	381,357
Total non-current liabilities	5,007,780	5,299,749
Total liabilities	22,476,850	22,634,690
Net assets
Shareholders' equity
Share capital	1,336,936	1,336,936
Capital surplus	1,276,650	1,280,980
Retained earnings	76,245,125	77,668,249
Treasury shares	(6,515,214)	(10,592,240)
Total shareholders' equity	72,343,497	69,693,925
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	707,807	521,881
Foreign currency translation adjustment	5,610,272	7,310,810
Remeasurements of defined benefit plans	50,733	50,101
Total accumulated other comprehensive income	6,368,814	7,882,793
Total net assets	78,712,311	77,576,719
Total liabilities and net assets		101,189,162	100,211,409

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

		(Thousands of yen)
	Three months ended	Three months ended
	June 30, 2021	June 30, 2022
Net sales	15,760,773	20,187,198
Cost of sales	10,404,279	13,500,125
Gross profit	5,356,493	6,687,072
Selling, general and administrative expenses	2,551,496	2,820,453
Operating profit	2,804,997	3,866,619
Non-operating income
Interest income	33,745	34,615
Dividend income	34,052	40,584
Valuable resource recovered income	17,145	13,947
Foreign exchange gains	69,952	285,424
Subsidy income	37,802	63,340
Technical advisory fee income	9,955	2,823
Other	27,738	15,052
Total non-operating income	230,392	455,788
Non-operating expenses
Interest expenses	2,510	7,101
Commission expenses	3,564	4,157
Commission for purchase of treasury shares	5,396	8,947
Other	1,148	7,706
Total non-operating expenses	12,619	27,913
Ordinary profit	3,022,770	4,294,494
Extraordinary income
Gain on sale of non-current assets	11,997	639,918
Gain on sale of investment securities	-	65,492
Total extraordinary income	11,997	705,411
Extraordinary losses
Loss on sale and retirement of non-current assets	8,486	352
Total extraordinary losses	8,486	352
Profit before income taxes	3,026,281	4,999,553
Income taxes - current	727,297	1,033,995
Income taxes - deferred	180,285	302,051
Total income taxes	907,582	1,336,046
Profit	2,118,699	3,663,506
Profit attributable to
Profit attributable to owners of parent	2,118,699	3,663,506
Other comprehensive income
Valuation difference on available-for-sale securities	18,389	(185,926)
Foreign currency translation adjustment	1,521,536	1,700,538
Remeasurements of defined benefit plans, net of tax	(701)	(632)
Total other comprehensive income	1,539,224	1,513,979
Comprehensive income	3,657,923	5,177,486
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,657,923	5,177,486

5