Toho Titanium : Consolidated Financial Results for Fiscal Year Ended March 31, 2023 (Japanese GAAP)

Translation from the Original Japanese Version.

Consolidated Financial Results for Fiscal Year Ended March 31, 2023 (Japanese GAAP)

May 8, 2023

Company name: Toho Titanium Co., Ltd.

Code number: 5727

Stock Exchange Listings: Tokyo

URL: https://www.toho-titanium.co.jp/en/

Representative: Yasuji Yamao, Representative Director and President

Contact person: Hiromu Tomeba, General Manager, Planning, Corporate Management Division Telephone: [phone]

Scheduled date of the Ordinary General Meeting of Shareholders: June 20, 2023

Scheduled date of filing of Securities Report: June 20, 2023

Scheduled date of commencement of dividend payments: June 1, 2023

Supplemental materials for the financial results: No

Financial results presentation: Yes (for institutional investors and analysts)

（Figures of less than ¥1 million are rounded off.）

1. Consolidated Results for Fiscal Year 2022 (From April 1, 2022 to March 31, 2023)

(1) Consolidated Operating Results

(Percentage figures are changes from the previous fiscal year.)

Net sales

Operating income

Ordinary income

Profit attributable to

owners of parent

Millions of yen

%

Millions of

%

Millions of yen

%

Millions

％

yen

of yen

FY2022 (ended

80,351

44.7

10,693

104.5

10,532

103.4

7,504

103.0

March 31, 2023)

FY2021 (ended

55,515

53.5

5,228

66.8

5,177

-

3,695

-

March 31, 2022)

(Note) Comprehensive

income

FY

2022: ￥7,539 million (102.4) %

FY 2021: ￥(3,725) million (-) %

Net income

Diluted net income

Return on equity

Ratio of ordinary

Ratio of operating

per share

per share

income to total assets

income to net sales

Yen

Yen

％

％

%

FY2022

105.44

―

15.0

10.1

13.3

FY2021

51.93

―

8.1

5.5

9.4

(For reference) Equity in earnings (losses) of affiliates

FY 2022:

￥17 million

FY

2021: ￥16 million

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders' equity ratio

Net assets per share

Millions of yen

Millions of yen

％

Yen

March 31, 2023

111,469

53,281

47.7

746.73

March 31, 2022

98,095

47,166

47.9

660.81

(For reference) Shareholders' equity : March 31, 2023: ￥53,146 million

March 31, 2022: ￥47,031

million

(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financial activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY2022

5,294

(6,765)

2,732

3,416

FY2021

9,790

(10,433)

206

2,128

2. Dividends

Annual cash dividend per share

Dividend

Dividends on

Total dividend

payout ratio

equity ratio

End of 1Q

End of 2Q

End of 3Q

Year-End

Total

amount

(Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

FY2021

―

6.00

―

9.00

15.00

1,067

28.9

2.3

FY2022

―

11.00

―

19.00

30.00

2,135

28.5

4.3

FY2023 (Forecast)

―

6.00

―

6.00

12.00

29.5

3. Forecasts for FY2023 (From April 1, 2023 to March 31, 2024)

				(Percentage figures are changes from (the same period of) the previous fiscal year.)
	Net Sales	Operating income	Ordinary income	Profit attributable to	Net income
	owners of parent	per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
First half of FY2023	38,200	(1.8)	1,100	(81.1)	900	(86.0)	500	(89.0)	7.03
FY2023	83,200	3.5	4,600	(57.0)	4,400	(58.2)	2,900	(61.1)	40.75

Notes

1. Changes in the scope of material subsidiaries during the period (i.e. changes in specified subsidiaries involving a change in the scope of consolidation): None.
2. Changes in accounting policies or accounting estimates, and restatement
3. 1. Changes in accounting policies owing to revisions in accounting rules and standards: Yes.
   2. Changes in accounting policies other than (i) above: None.
   3. Changes in accounting estimates: None.
   4. Restatement: None.
4. Number of shares issued (common stock)

(i) Number of issued shares at the end of the period	FY2022	71,270,910 shares	FY2021	71,270,910 shares
(including treasury stock)
(ii) Number of shares of treasury stock at the end of	FY2022	98,590 shares	FY2021	98,309 shares
the period
(iii) Average number of issued and outstanding shares	FY2022	71,172,444 shares	FY2021	71,172,685 shares
during the period

For Reference: Outline of Non-Consolidated Results

Non-Consolidated Results for Fiscal Year 2022 (From April 1, 2022 to March 31, 2023)

(1) Non-Consolidated Operating Results			(Percentage figures are changes from the previous fiscal year.)
	Net sales		Operating income	Ordinary income	Profit attributable to
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	％
FY2022 (ended	80,349	49.0	10,744	122.8	10,704	105.4	7,736	103.8
March 31, 2023)
FY2021 (ended	53,922	65.5	4,822	88.6	5,212	99.3	3,796	-
March 31, 2022)
	Net income		Diluted net income
	per share		per share
	Yen		Yen
FY2022	108.71		―
FY2021	53.34		―

(2) Non-Consolidated Financial Position

		Total assets		Net assets	Shareholders' equity ratio	Net assets per share
		Millions of yen		Millions of yen	％	Yen
	March 31, 2023	110,296		51,540	46.7	724.17
	March 31, 2022	96,510		45,197	46.8	635.04
	(For reference) Shareholders' equity : March 31, 2023:	￥51,580 million	March 31, 2022: ￥45,197	million

This document is outside the scope of audit procedures.

Explanation concerning appropriate use of performance forecasts and other special notes

(Notes concerning forward-looking statements)

Earnings forecasts are not included in this document because of difficulties we have at present in making reasonable estimates.

For details, please refer to "1. Summary of Results of Operations, (1) Summary of Results of Operations for Fiscal Year Ended March 31, 2023, Outlook for the Next Fiscal Year" on page 4 of the attached materials.

(Supplementary information on financial results and financial briefing)

The Company will hold a financial briefing for institutional investors and analysts on May 18, 2023, after which materials used at the briefing will be posted on the Company's web site promptly

Attached Materials: Table of Contents
1. Summary of Results of Operations	2
(1)	Summary of Results of Operations for Fiscal Year Ended March 31, 2023	2
(2)	Summary of Financial Position	4
(3)	Summary of Cash flows	4
(4)	Outlook for the Next Fiscal Year	5
2.	Basic Rationale for Selection of Accounting Standards	6
3.	Consolidated Financial Statements and Notes	7
(1)	Consolidated Balance Sheets	7
(2)	Consolidated Statements of Operations and Comprehensive Income (Loss)	11
	Consolidated Statements of Operations	11
	Consolidated Statements of Comprehensive Income (Loss)	13
(3)	Consolidated Statements of Changes in Net Assets	14
(4)	Consolidated Statements of Cash Flows	16
(5)	Notes to Consolidated Financial Statements	18
	Notes on the going concern assumption	18
	Change in accounting policies	18
	Segment information	18
	Per share data	21
	Significant subsequent events	21

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