Yamatane : Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

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.

	Consolidated Financial Results
	for the Fiscal Year Ended March 31, 2022
	[Japanese GAAP]
	May 13, 2022
Company name:	Yamatane Corporation
Stock exchange listing:	Tokyo Stock Exchange
Securities code:	9305
URL:	https://www.yamatane.co.jp
Representative:	Motohiro Yamazaki, Representative Director, President
Contact:	Ichiro Tasaki, General Manager, Accounting & Finance Department, Administration
	Division
Phone:	[phone]

Scheduled date for annual general meeting of shareholders:	June 21, 2022
Scheduled date for commencing dividend payments:	June 6, 2022
Scheduled date for filing annual securities report:	June 21, 2022
Preparation of supplementary financial results briefing materials:	Yes
Holding of financial results briefing:	Yes

(Amounts of less than one million yen are truncated.)

1. Consolidated financial results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022)

(1) Consolidated operating results									(% indicates 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	%
	March 31, 2022	46,765		―	3,002		(9.1)			2,655	(15.5)		1,832	(10.3)
	March 31, 2021	48,690	(11.1)	3,302		0.5			3,142	6.8		2,042	11.9
	Note: Comprehensive	income: Fiscal year ended March 31, 2022: ¥3,454 million [ 37.0 %]
		Fiscal year ended March 31, 2021: ¥2,521 million [ 69.6 %]
		Basic earnings	Diluted earnings		Return on		Ordinary profit	Operating profit
				to total assets
		per share			per share		equity			to net sales ratio
								ratio
	Fiscal year ended		Yen		Yen					%			%		%
	March 31, 2022	177.53		―					4.4			2.2		6.4
	March 31, 2021	197.86		―					5.2			2.7		6.8
	Reference: Share of profit of entities accounted for using equity method:
	Fiscal year ended March 31, 2022: ¥- million	Fiscal year ended March 31, 2021: ¥- million

Note: The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. has been adopted from the beginning of the fiscal year under review. As a result, net sales reflect the adoption of the accounting standard, etc., and the year-on-year percentage change is not presented.

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
As of	Million yen	Million yen	%	Yen
March 31, 2022	123,425	45,558	34.5	4,127.33
March 31, 2021	123,279	42,923	32.7	3,900.13

Reference: Equity: As of March 31, 2022: ¥42,608 million

As of March 31, 2021: ¥40,264 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

Million yen

Million yen

Million yen

Million yen

March 31, 2022

4,242

(9,725)

(3,585)

7,459

March 31, 2021

4,044

(6,333)

8,924

16,529

2. Dividends

Annual dividends per share

Total cash

Dividend

Ratio of

dividends to

1st

2nd

3rd

Fiscal

Total

dividends

payout ratio

quarter-

quarter-

quarter-

year-

(total)

(consolidated)

net assets

end

end

end

end

(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

March 31, 2021

―

0.00

―

52.00

52.00

536

26.3

1.4

March 31, 2022

―

25.00

―

30.00

55.00

567

31.0

1.4

Fiscal year ending

March 31, 2023

―

25.00

―

31.00

56.00

40.7

(Forecast)

3. Consolidated financial results forecast for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)

							(% indicates year-on-year change)
							Profit		Basic earnings
	Net sales	Operating profit	Ordinary profit	attributable to
	per share
							owners of parent
First half	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
25,800	10.9	1,400	3.8	1,290	8.6	670	(3.6)	64.90
Full year	52,100	11.4	2,890	(3.8)	2,650	(0.2)	1,420	(22.5)	137.54

* Notes:

1. Changes in significant subsidiaries during the current 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 restatements
3. 1. Changes in accounting policies due to application of revised accounting standards: Yes
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Retrospective restatements: None
4. Number of common shares issued
5. 1. Number of shares issued at the end of the period (including treasury shares):

As of March 31, 2022: 11,344,181 shares

As of March 31, 2021: 11,344,181 shares

1. Number of treasury shares at the end of the period: As of March 31, 2022: 1,020,692 shares
   As of March 31, 2021: 1,020,355 shares
2. Average number of common shares during the period: Fiscal year ended March 31, 2022: 10,323,630 shares Fiscal year ended March 31, 2021: 10,323,994 shares

[Reference] Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022)

(1) Non-consolidated operating results				(% indicates year-on-year change)
		Net sales		Operating profit	Ordinary profit	Profit
	Fiscal year ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	March 31, 2022	41,183	(5.4)	1,206	(31.2)	1,210	(34.5)	1,069	(24.3)
	March 31, 2021	43,536	(12.3)	1,753	(9.4)	1,846	(9.2)	1,412	(1.2)

		Basic earnings	Diluted earnings
		per share	per share
	Fiscal year ended	Yen		Yen
	March 31, 2022	103.63		―
	March 31, 2021	136.83		―
(2) Non-consolidated financial position
		Total assets	Net assets	Equity ratio	Net assets per share
	As of	Million yen		Million yen	%	Yen
	March 31, 2022		87,146	37,450	43.0	3,627.73
	March 31, 2021		84,736	36,358	42.9	3,521.85

Reference: Equity: As of March 31, 2022: ¥37,450 million

As of March 31, 2021: ¥36,358 million

• These financial results are outside the scope of audits by certified public accountants or an audit firm.
• Explanation on appropriate use of financial results forecasts and other matters of note
• • Financial results forecasts and other forward-looking statements provided in these materials are based on information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and actual financial results and other aspects of business performance may differ significantly from these forecasts owing to various factors. Please refer to "1. Overview of business performance (4) Future outlook" on page 4 of the Japanese version of the attached materials for conditions forming the basis for financial results forecasts, notes regarding the use of financial results forecasts, and other information.

Consolidated Financial Statements

(1) Consolidated Balance Sheet

					(Million yen)
		Previous fiscal year	Fiscal year under review
		(As of March 31, 2021)	(As of March 31, 2022)
Assets
Current assets
Cash and deposits	16,529	7,459
Notes and accounts receivable - trade	5,668	-
Notes and accounts receivable - trade, and			-		6,225
contract assets
Investments in leases	3,390	3,349
Inventories	1,587	1,568
Other	629	1,425
Allowance for doubtful accounts		(0)	(2)
Total current assets	27,804	20,025
Non-current assets
Property, plant and equipment
Buildings and structures	46,020	57,717
Accumulated depreciation		(29,081)	(30,315)
Buildings and structures, net		16,938	27,401
Land	50,405	50,433
Construction in progress	6,290	27
Other	13,912	16,081
Accumulated depreciation		(6,840)	(7,284)
Other, net		7,071	8,797
Total property, plant and equipment	80,706	86,660
Intangible assets
Other		984	982
Total intangible assets	984	982
Investments and other assets
Investment securities	12,231	14,229
Deferred tax assets	22	13
Other	1,397	1,389
Allowance for doubtful accounts		(96)	(36)
Total investments and other assets		13,554	15,596
Total non-current assets	95,245	103,239
Deferred assets
Bond issuance costs		228	160
Total deferred assets		228	160
Total assets		123,279	123,425

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					(Million yen)
			Previous fiscal year	Fiscal year under review
			(As of March 31, 2021)	(As of March 31, 2022)
Liabilities
Current liabilities
Trade accounts payable	2,916	2,506
Short-term borrowings	4,406	5,141
Current portion of long-term borrowings	5,154	5,264
Current portion of bonds payable	4,186	901
Income taxes payable	698	484
Other		3,997	3,041
Total current liabilities	21,359	17,339
Non-current liabilities
Bonds payable	24,232	23,331
Long-term borrowings	20,850	21,522
Deferred tax liabilities for land revaluation	4,823	4,823
Deferred tax liabilities	964	1,396
Provision for environmental measures	2	2
Retirement benefit liability	1,676	1,622
Asset retirement obligations	2,325	2,334
Other		4,120	5,494
Total non-current liabilities	58,996	60,527
Total liabilities			80,355	77,867
Net assets
Shareholders' equity
Share capital	10,555	10,555
Capital surplus	3,747	3,747
Retained earnings	21,341	22,379
Treasury shares		(2,233)	(2,234)
Total shareholders' equity	33,411	34,448
Accumulated other comprehensive income
Valuation difference on available-for-sale				4,003		5,304
securities
Revaluation reserve for land	2,872	2,872
Remeasurements of defined benefit plans		(24)	(17)
Total accumulated other comprehensive	6,852	8,159
income
Non-controlling interests	2,659	2,950
Total net assets			42,923	45,558
Total liabilities and net assets		123,279	123,425

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