Fujimori Kogyo : Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2021 (PDF：163KB)

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 Nine Months Ended December 31,

2021 (Based on Japanese GAAP)

February 9, 2022

Company name

FUJIMORI KOGYO CO., LTD.

Stock exchange listing

Tokyo

Stock Code

7917

URL https://www.zacros.co.jp/

Representative

President & CEO

Eishi Fuyama

Inquiries

Senior Executive Officer in Charge of Administration

Michihiko Sato

TEL [phone]

Scheduled date to file Quarterly Securities Report

February 14, 2022

Scheduled date to commence dividend payments

―

Preparation of supplementary material on quarterly earnings

none

Holding of quarterly earnings performance review

none

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)

(1) Consolidated operating results (cumulative)

(Percentages indicate year-on-year changes)

Net sales

Operating income

Ordinary income

Net income attributable

to owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Nine months ended December 31, 2021

94,891

9.0

8,318

6.9

8,761

7.2

5,980

10.7

Nine months ended December 31, 2020

87,024

0.2

7,778

11.9

8,175

14.2

5,400

15.3

Note: Comprehensive income

Nine months ended December 31, 2021

¥6,664 million [23.2%]

Nine months ended December 31, 2020

¥5,408 million [3.5%]

Net income

Diluted net income per

per share

share

Yen

Yen

Nine months ended December 31, 2021

313.71

310.00

Nine months ended December 31, 2020

283.77

280.22

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of December 31, 2021

126,986

83,093

60.7

4,040.91

As of March 31, 2021

117,393

77,941

61.8

3,811.40

Reference: Equity

As of December 31, 2021

¥77,102 million

As of March 31, 2021

¥72,539 million

2. Cash dividends

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2021

-

35.00

-

40.00

75.00

Year ending March 31, 2022

-

40.00

-

Year ending March 31, 2022 (Forecast)

40.00

80.00

Note: Revisions to the forecasts of cash dividends most recently announced: none

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

(Percentages indicate year-on-year changes)

	Net sales		Operating income	Ordinary income	Net income attributable	Net income
		to owners of parent	per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	120,000	2.3	10,300	0.1	10,500	(2.0)	7,000	(3.8)	367.11
Note: Revisions to the	forecasts of financial	results	most recently	announced:	none
*Notes
(1) Changes in significant subsidiaries during the nine months ended December 31, 2021
(changes in specified subsidiaries resulting in change in scope of consolidation):		none
(2) Application of special accounting for preparing quarterly consolidated financial statements:	none

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections

a. Changes in accounting policies due to revisions to accounting standards and other regulations:	yes
b. Changes in accounting policies due to other reasons:	none
c. Changes in accounting estimates:	none
d. Restatement of prior period financial statements after error corrections:	none

1. Number of issued shares (common shares)
   a. Total number of issued shares at the end of the period (including treasury shares)

	As of December 31, 2021	19,267,760 shares	As of March 31, 2021	19,267,760 shares
b. Number of treasury shares at the end of the period
	As of December 31, 2021	187,360 shares	As of March 31, 2021	235,631 shares
c. Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended December 31, 2021	19,063,546 shares	Nine months ended December 31, 2020	19,032,194 shares

• Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  The above forecasts of consolidated financial results are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Consequently, actual business and other results may differ substantially due to various factors.

1. Quarterly consolidated financial statements

(1) Quarterly consolidated balance sheets

		(Millions of yen)
	As of March 31, 2021	As of December 31, 2021
Assets
Current assets
Cash and deposits	8,980	9,083
Notes and accounts receivable - trade	33,520	-
Notes and accounts receivable - trade, and contract	-	38,048
assets
Securities	15,297	18,097
Merchandise and finished goods	5,279	5,395
Work in process	1,645	1,955
Raw materials and supplies	3,804	5,151
Other	2,324	2,725
Allowance for doubtful accounts	(43)	(43)
Total current assets	70,809	80,414
Non-current assets
Property, plant and equipment
Buildings and structures	42,450	44,595
Accumulated depreciation	(25,037)	(26,050)
Buildings and structures, net	17,412	18,545
Machinery, equipment and vehicles	58,405	60,126
Accumulated depreciation	(49,665)	(51,332)
Machinery, equipment and vehicles, net	8,739	8,793
Tools, furniture and fixtures	7,706	8,016
Accumulated depreciation	(6,547)	(6,975)
Tools, furniture and fixtures, net	1,159	1,040
Land	8,130	8,250
Construction in progress	2,306	1,834
Other	891	989
Accumulated depreciation	(309)	(395)
Other, net	582	593
Total property, plant and equipment	38,330	39,058
Intangible assets
Goodwill	283	262
Other	777	732
Total intangible assets	1,061	994
Investments and other assets
Investment securities	5,717	5,117
Deferred tax assets	703	644
Other	812	776
Allowance for doubtful accounts	(41)	(19)
Total investments and other assets	7,191	6,519
Total non-current assets	46,583	46,572
Total assets	117,393	126,986

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		(Millions of yen)
	As of March 31, 2021	As of December 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	21,763	27,387
Short-term loans payable	1,643	972
Accounts payable - other	3,455	3,939
Income taxes payable	1,915	451
Provision for bonuses	1,484	798
Provision for directors' bonuses	185	134
Other	1,567	2,586
Total current liabilities	32,014	36,272
Non-current liabilities
Long-term loans payable	1,075	1,000
Deferred tax liabilities	312	416
Net defined benefit liability	4,599	4,685
Provision for directors' retirement benefits	576	584
Other	873	934
Total non-current liabilities	7,436	7,620
Total liabilities	39,451	43,893
Net assets
Shareholders' equity
Capital stock	6,600	6,600
Capital surplus	6,454	6,451
Retained earnings	57,358	61,814
Treasury shares	(502)	(399)
Total shareholders' equity	69,910	74,466
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	2,175	1,758
Foreign currency translation adjustment	425	875
Remeasurements of defined benefit plans	27	1
Total accumulated other comprehensive income	2,628	2,635
Subscription rights to shares	523	466
Non-controlling interests	4,878	5,524
Total net assets	77,941	83,093
Total liabilities and net assets	117,393	126,986

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1. Quarterly consolidated statements of income (cumulative) and quarterly consolidated statements of comprehensive income (cumulative)
   (Quarterly consolidated statements of income (cumulative))

		(Millions of yen)
	Nine months ended	Nine months ended
	December 31, 2020	December 31, 2021
Net sales	87,024	94,891
Cost of sales	67,283	73,205
Gross profit	19,741	21,686
Selling, general and administrative expenses	11,963	13,368
Operating income	7,778	8,318
Non-operating income
Interest income	73	47
Dividend income	83	114
Insurance and dividend income	48	35
Foreign exchange gains	-	92
Subsidy income	0	3
Income from recycling	44	75
Other	227	119
Total non-operating income	477	487
Non-operating expenses
Interest expenses	17	13
Sales discounts	26	29
Foreign exchange losses	22	-
Other	13	1
Total non-operating expenses	79	44
Ordinary income	8,175	8,761
Extraordinary income
Gain on sales of non-current assets	3	5
Gain on sales of investment securities	1	0
Total extraordinary income	5	5
Extraordinary losses
Loss on sales of non-current assets	0	1
Loss on retirement of non-current assets	6	31
Loss on valuation of investment securities	89	-
Total extraordinary losses	95	32
Income before income taxes	8,085	8,734
Income taxes - current	2,082	1,846
Income taxes - deferred	137	354
Total income taxes	2,220	2,201
Net income	5,865	6,532
Net income attributable to non-controlling interests	464	552
Net income attributable to owners of parent	5,400	5,980

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