Nitto Kohki : Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (Under Japanese GAAP)

Translation

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 10, 2021

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

(Under Japanese GAAP)

Company name:	NITTO KOHKI CO., LTD.
Listing:	Tokyo Stock Exchange
Securities code:	6151
URL:	https://www.nitto-kohki.co.jp
Representative:	Akinobu Ogata, Representative Director, President CEO
Inquiries:	Kenji Mori, Director, Executive Managing Officer, Chief Administrative Officer
TEL:	[phone]

Scheduled date of annual general meeting of shareholders:	June 22, 2021
Scheduled date to commence dividend payments:	June 23, 2021
Scheduled date to file annual securities report:	June 23, 2021
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	Yes	(for institutional investors
		and analysts

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2021	22,533		(16.7)	2,091	(47.3)	2,266	(43.3)	1,549	(43.7)
March 31, 2020	27,054		(6.6)	3,965	(27.7)	3,999	(25.5)	2,750	(24.5)

Note: Comprehensive income	For the fiscal year ended March 31, 2021:	¥1,767 million	[(26.2)%]
		For the fiscal year ended March 31, 2020:	¥2,396 million	[(25.1)%]
	Basic earnings	Diluted earnings	Return on equity	Ordinary profit/	Operating profit/
	per share	per share	total assets	net sales
Fiscal year ended		Yen	Yen		%		%	%
March 31, 2021		76.08	-		2.9		3.7	9.3
March 31, 2020		131.16	-		5.1		6.5	14.7

Reference: Share of profit (loss) of entities accounted for using equity method

For the fiscal year ended March 31, 2021: ¥- million

For the fiscal year ended March 31, 2020: ¥- million

(2) Consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
March 31, 2021	61,721	54,502	88.3	2,685.92
March 31, 2020	61,809	54,107	87.5	2,620.66
Reference: Equity

As of March 31, 2021: ¥54,494 million

As of March 31, 2020: ¥54,100 million

(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	Millions of yen	Millions of yen	Millions of yen	Millions of yen
March 31, 2021	3,767	(6,124)	(1,643)	9,270
March 31, 2020	3,491	(1,101)	(2,943)	13,334

2. Cash dividends

		Annual dividends		Total cash	Payout ratio	Ratio of
	First	Second	Third			dividends to
	Fiscal		dividends
	quarter-	quarter-	quarter-	Total	(Consolidated)	net assets
	year-end	(Total)
	end	end	end			(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	31.50	-	21.50	53.00	1,103	40.1	2.0
March 31, 2020
Fiscal year ended	-	12.50	-	18.50	31.00	628	40.6	1.2
March 31, 2021
Fiscal year ending	-	15.00	-	16.50	31.50		40.4
March 31, 2022
(Forecast)

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to

March 31, 2022)					(Percentages indicate year-on-year changes)
	Net sales		Operating profit	Ordinary profit	Profit attributable	Earnings per
		to owners of parent	share
	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Six months ending	11,760			1,040		1,110		750		36.96
September 30, 2021
Full year	23,980			2,180		2,320		1,580		77.87

Note: As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022, the above consolidated financial results forecasts represent the amount after the application of the said accounting standard, and the percentage change from the previous fiscal year and the same quarter of the previous year is not stated.

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2021	21,803,295 shares
As of March 31, 2020	21,803,295 shares

(ii) Number of treasury shares at the end of the period

As of March 31, 2021	1,514,346 shares
As of March 31, 2020	1,159,707 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended March 31, 2021	20,367,774 shares
Fiscal year ended March 31, 2020	20,966,301 shares

[Reference] Overview of non-consolidated financial results

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

(1) Non-consolidated operating results			(Percentages indicate year-on-year changes.)
	Net sales	Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2021	20,831	(18.1)	1,218	(57.1)	1,471	(51.8)	1,050	(52.4)
March 31, 2020	25,448	(6.9)	2,841	(31.2)	3,054	(29.0)	2,207	(27.3)
	Basic earnings	Diluted earnings
	per share	per share
Fiscal year ended		Yen		Yen
March 31, 2021		51.57		-
March 31, 2020		105.30		-
(2) Non-consolidated financial position
	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen		%		Yen
March 31, 2021		50,997		45,685		89.6	2,251.76
March 31, 2020		51,264		45,711		89.2	2,214.30
Reference: Equity
As of March 31, 2021: ¥ 45,685 million
As of March 31, 2020:	¥45,711 million

2. Non-consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021

to March 31, 2022)						(Percentages indicate year-on-year changes)
		Net sales		Ordinary profit		Profit		Earnings per share
		Millions of yen	%	Millions of yen		%	Millions of yen	%	Yen
Six months ending		11,019		767			533		26.27
September 30, 2021
Full year		22,461		1,635			1,136		55.99

Note: As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from

the beginning of the fiscal year ending March 31, 2022, the above non-consolidated financial results forecasts represent the amount after the application of the said accounting standard, and the percentage change from the previous fiscal year and the same quarter of the previous year is not stated.

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual results may differ substantially due to a variety of factors. For details on the assumptions used for the financial results forecasts and points to note when using the financial results forecasts, please see "(5) Future outlook" in "1. Overview of operating results, etc." on page 4 of the attached material.

	NITTO KOHKI CO., LTD. (6151)
Attached Material
	Index
1. Overview of operating results, etc.	........................................................................................................... 2

2.	Basic rationale for selecting accounting standards ...................................................................................	6
3.	Consolidated financial statements and significant notes thereto...............................................................	7
	Consolidated statement of income......................................................................................................	9
	Consolidated statement of comprehensive income ..........................................................................	10
	Uncertainties of entity's ability to continue as going concern..........................................................	15
	Changes in accounting policies ........................................................................................................	15
	Segment information, etc. ................................................................................................................	15
	Per share information .......................................................................................................................	19
	Significant events after reporting period ..........................................................................................	19
4.	Other information ...................................................................................................................................	20
	Changes in officers...........................................................................................................................	20

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