Cyberlinks : Consolidated Financial Results for the Fiscal Year ended December 31, 2021

Consolidated Financial Results for the Fiscal Year ended December 31, 2021

[Japanese GAAP]

February 14, 2022

Company name:	Cyberlinks Co., Ltd.
Listing:	Tokyo Stock Exchange, First Section
Code number:	3683
URL:	https://www.cyber-l.co.jp/
Representative:	Tsuneo Murakami
	President
Contact:	Takayuki Torii, General Administration Manager
	Tel: [phone]

Scheduled date of Ordinary General Meeting of Shareholders:	March 29, 2022
Scheduled date of filing of Annual Report:	March 30, 2022
Scheduled date of dividend payment	March 30, 2022
Preparation of supplementary materials for annual financial	Yes
results:
Holding of annual financial results meeting:	Yes
	(for institutional investors and analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2021（January 1, 2021 to December 31,

2021）
(1) Consolidated Operating Results (cumulative)
					(Percentages indicate rates of year-on-year change)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
Fiscal year ended	Million yen		%	Million yen	%	Million yen	%	Million yen	%
December 31, 2021	13,241		3.6	945	2.2	958	0.7	645	0.1
December 31, 2020	12,777		22.3	924	105.5	951	106.4	644	130.0

(Note) Comprehensive income: For the Year ended December 31, 2021: ¥645 million (up 0.1% year on year) For the Year ended December 31, 2020: ¥644 million (up 130.0% year on year)

	Basic earnings	Diluted earnings		Ratio of ordinary	Ratio of operating
	Return on equity	profit to total
	per share	per share		assets	profit to net sales
Fiscal year ended	Yen	Yen	%	%	%
December 31, 2021	62.55	60.73	12.5	9.7	7.1
December 31, 2020	62.43	60.91	13.7	9.7	7.2

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021. Basic earnings per share and diluted earnings per share are calculated based on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of December 31, 2021	9,682	5,418	55.1	516.32
As of December 31, 2020	10,053	5,047	49.5	482.28

(Reference) Shareholders' equity: As of December 31, 2021: ¥5,340 million As of December 31, 2020: ¥4,978 million

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021. Net assets per share is calculated based on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

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(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at end of

operating activities

investing activities

financing activities

period

Fiscal year ended

Million yen

Million yen

Million yen

Million yen

December 31, 2021

1,964

(685)

(591)

2,552

December 31, 2020

740

333

(595)

1,863

2. Dividends

Annual dividends

Total cash

Ratio of

Payout ratio

dividends to

1st

2nd

3rd

Year-

dividends

(consolidated)

net assets

quarter-

quarter-

quarter-

Total

(Total)

end

(consolidated)

end

end

end

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

Fiscal year ended

December 31,

－

0.00

－

20.00

20.00

103

16.0

2.2

2020

Fiscal year ended

December 31,

－

0.00

－

12.00

12.00

124

19.2

2.4

2021

Fiscal year ending

December 31,

－

0.00

－

13.00

13.00

－

2022 (Forecast)

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021, and the actual dividend amount prior to the stock split is shown for the fiscal year ended December 31, 2020.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2022 (January 1, 2022 to December 31, 2022)

(Percentages indicate rates of year-on-year change)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings
		owners of parent	per share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
First-half	6,428		(6.3)	592	2.3	592	1.5	380	(6.4)	36.74
Full-year	13,267		0.2	1,043	10.4	1,046	9.1	670	3.8	64.78

Notes:

1. Changes in specific subsidiaries during the period (changes in specified subsidiaries resulting in a change in the scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and retrospective restatement
3. 1. Changes in accounting policies due to the revision of accounting standards: None
   2. Changes in accounting policies other than 1): None
   3. Changes in accounting estimates: None
   4. Retrospective restatement: None
4. Total number of issued shares (common stock)

1. Total number of issued shares at the end of the period (including treasury shares): December 31, 2021: 10,557,972 shares
   December 31, 2020: 10,342,772 shares
2. Total number of treasury shares at the end of the period:

December 31, 2021: 215,420 shares

December 31, 2020: 19,120 shares

1. Average number of shares outstanding during the period: Fiscal year ended December 31, 2021: 10,315,961 shares Fiscal year ended December 31, 2020: 10,327,007 shares

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021. The total number of issued shares at the end of the period (including treasury shares), the total number of treasury shares at the end of the period, and the average number of outstanding shares during the period are calculated on the assumption that the said stock split was conducted at the beginning of the previous fiscal year.

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[Reference]Overview of non-consolidated financial results

1. Non-Consolidated Financial Results for the Fiscal Year Ended December 31, 2021（January 1, 2021 to December 31, 2021）

(1) Non-Consolidated Operating Results (cumulative)

					(Percentages indicate rates of year-on-year change)
	Net sales		Operating profit	Ordinary profit	Profit
Fiscal year ended	Million yen		%	Million yen	%	Million yen	%	Million yen		%
December 31, 2021	10,381		0.6	875	3.6	890	(52.1)	598		(61.9)
December 31, 2020	10,321		(1.2)	844	86.9	1,858	301.3	1,569		455.4
	Basic earnings	Diluted earnings
	per share		per share
Fiscal year ended			Yen		Yen
December 31, 2021			58.02		56.34
December 31, 2020	151.91		148.23

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021. Basic earnings per share and diluted earnings per share are calculated based on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

(Note) Ordinary profit and profit for the fiscal year ended December 31, 2020 include dividends of 1,000,000 thousand yen from consolidated subsidiaries.

(2) Non-Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of December 31, 2021	10,140	6,298	61.3	601.42
As of December 31, 2020	10,293	5,974	57.4	572.07

(Reference) Shareholders' equity: As of December 31, 2021: ¥6,220 million As of December 31, 2020: ¥5,905million

(Note) The Company conducted a 2-for-1 stock split of common stock on January 1, 2021. Net assets per share is calculated based on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

• The financial statements are outside the scope of quarterly reviews by certified public accountants and auditing firms.
• Explanation of the proper use of financial results forecast and other notes

Disclaimer regarding forward-looking statements

The forward-looking statements, including financial results forecasts, contained in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable.

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Consolidated Financial Statements and Primary Notes

(1) Consolidated Balance Sheet

				(Thousands of yen)
			As of December 31, 2020	As of December 31, 2021
Assets
	Current assets
		Cash and deposits	1,863,331	2,552,640
		Notes and accounts receivable - trade	2,935,110	2,306,174
		Lease receivables and investments in leases	411,407	318,953
		Merchandise and finished goods	134,624	85,783
		Work in process	649,241	384,960
		Raw materials and supplies	4,254	9,701
		Other	415,724	239,115
		Allowance for doubtful accounts	(2,456)	(1,287)
		Total current assets	6,411,237	5,896,041
	Non-current assets
		Property, plant and equipment
		Buildings and structures	2,209,916	2,369,105
		Accumulated depreciation	(1,466,444)	(1,480,482)
		Buildings and structures, net	743,472	888,623
		Land	1,399,470	1,399,470
		Construction in progress	114,794	55,644
		Other	1,723,526	1,945,992
		Accumulated depreciation	(1,445,814)	(1,546,284)
		Other, net	277,711	399,708
		Total property, plant and equipment	2,535,449	2,743,446
		Intangible assets
		Software	556,685	374,971
		Software in progress	57,879	120,455
		Other	53	9
		Total intangible assets	614,619	495,436
		Investments and other assets
		Investment securities	19,000	19,000
		Deferred tax assets	228,249	284,631
		Other	247,274	246,399
		Allowance for doubtful accounts	(2,129)	(2,076)
		Total investments and other assets	492,394	547,954
		Total non-current assets	3,642,463	3,786,837
	Total assets	10,053,700	9,682,879

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			(Thousands of yen)
		As of December 31, 2020	As of December 31, 2021
Liabilities
	Current liabilities
	Accounts payable - trade	744,281	655,612
	Current portion of long-term borrowings	304,200	304,200
	Lease obligations	2,291	2,362
	Income taxes payable	178,841	347,313
	Asset retirement obligations	6,223	6,225
	Provision for bonuses	38,792	39,874
	Provision for loss on order received	62,354	3,233
	Other	1,344,754	881,485
	Total current liabilities	2,681,740	2,240,308
	Non-current liabilities
	Long-term borrowings	2,079,906	1,775,706
	Lease obligations	8,162	5,800
	Asset retirement obligations	31,583	32,955
	Other	204,635	209,398
	Total non-current liabilities	2,324,287	2,023,860
	Total liabilities	5,006,027	4,264,169
Net assets
	Shareholders' equity
	Share capital	792,324	851,807
	Capital surplus	1,244,058	1,303,541
	Retained earnings	2,954,205	3,496,235
	Treasury shares	(11,616)	(311,505)
	Total shareholders' equity	4,978,971	5,340,078
	Share acquisition rights	68,702	78,631
	Total net assets	5,047,673	5,418,710
Total liabilities and net assets	10,053,700	9,682,879

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