Itoki CorporationTSE: 7972

Financial Results for the First Three Months of the Fiscal Year Ending December 31, 2021 (Consolidated Basis)（137KB）

May 27, 2021 at 12:46 AM UTC · Issued by Itoki Corporation

Translation

May 10, 2021

Consolidated Financial Results

for the First Three Months of the Fiscal Year Ending December 31, 2021

Company name:	ITOKI CORPORATION
Listing:	Tokyo Stock Exchange 1st Section
Stock code:	7972
URL:	http://www.itoki.jp/
Representative:	Yoshiro Hirai, President
Inquiries:	Yoshiaki Moriya, Director, Managing Executive Officer, General Manager of
	Administrative Division
	TEL: +81-3-6910-3910 (from overseas)

Scheduled date to file Quarterly Securities Report:	May 10, 2021
Scheduled date to commence dividend payments:	-

Preparation of supplementary material on quarterly financial results:	None
Holding of quarterly financial results presentation meeting:	None

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated performance for the first three months of the fiscal year ending

December 31, 2021 (from January 1, 2021 to March 31, 2021)

(1) Consolidated operating results (cumulative)		(Percentages indicate year-on-year changes.)
			Net sales		Operating profit	Ordinary profit	Profit attributable to
				owners of parent

	Three months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	March 31, 2021	32,121		(14.8)	1,667	(44.4)	1,657	(42.5)	1,942	10.4
	March 31, 2020	37,707		11.2	3,001	43.5	2,882	37.5	1,760	43.6
	Note:	Comprehensive	income
		For the first three months of the fiscal year ending December 31, 2021: 2,117 million yen [61.1%]
		For the first three months of the fiscal year ended December 31, 2020: 1,314 million yen [23.4%]
			Earnings per share	Diluted earnings per
			share

	Three months ended			Yen		Yen
	March 31, 2021		43.03		42.88
	March 31, 2020		38.64		-
(2) Consolidated financial position
			Total assets		Net assets		Equity ratio		Net assets per share
	As of		Millions of yen	Millions of yen		%		Yen
	March 31, 2021	112,469		45,717		40.3	1,005.03
	December 31, 2020	105,096		44,189		41.6		969.43
	Reference:	Equity
		As of March 31, 2021:	45,373 million yen
		As of December 31, 2020: 43,766 million yen

2. Cash dividends

			Annual dividends
	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended	-	0.00	-	13.00	13.00
December 31, 2020

Fiscal year ending	-
December 31, 2021

Fiscal year ending		0.00	-	13.00	13.00
December 31, 2021
(Forecast)

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

3. Consolidated earnings forecasts for the fiscal year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)

(Percentages indicate year-on-year changes.)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per
		owners of parent	share

	Millions of	%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen	yen	yen	yen

Fiscal year ending	114,000	(1.9)	1,800	0.1	1,900	1.0	700	-	15.50
December 31, 2021

Note: Revisions to the	consolidated earnings	forecasts most recently	announced:	None

* Notes

Changes in significant subsidiaries during the first three months of the fiscal year ending December 31, 2021 (changes in specified subsidiaries accompanying change in scope of consolidation): None
Application of specific accounting for preparing the consolidated quarterly financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
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

c. Changes in accounting estimates:None

d. Restatement of prior period financial statements after error corrections: None

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2021	45,664,437 shares
As of December 31, 2020	45,664,437 shares

Number of treasury shares at the end of the period

As of March 31, 2021	517,721 shares
As of December 31, 2020	517,704 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended March 31, 2021	45,146,722 shares
Three months ended March 31, 2020	45,560,569 shares

Quarterly financial results reports are not required to be subjected to quarterly reviews conducted by certified public accountants or an audit corporation.

* Explanation concerning proper use of earnings forecasts and other specific matters

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. Actual results may differ materially from these forecasts due to various factors.

Consolidated quarterly financial statements

(1) Consolidated quarterly balance sheets

			(Millions of yen)
		As of December 31, 2020	As of March 31, 2021

Assets
Current assets		19,503
Cash and deposits	18,246
Notes and accounts receivable - trade	26,599	32,061
Electronically recorded monetary claims -	1,959	2,319
operating
	5,322
Merchandise and finished goods	4,281
Work in process	2,266	2,480
Raw materials and supplies	2,554	2,912
Other	1,850	1,535
Allowance for doubtful accounts	(575)	(591)
Total current assets	57,183	65,543
Non-current assets
Property, plant and equipment		10,074
Buildings and structures, net	10,669
Land	9,888	9,532
Other, net	5,648	5,577
Total property, plant and equipment	26,206	25,184
Intangible assets		2,018
Goodwill	2,093
Other	3,497	3,486
Total intangible assets	5,590	5,504
Investments and other assets		5,498
Investment securities	5,583
Deferred tax assets	1,414	1,536
Retirement benefit asset	1,418	1,435
Other	8,175	8,241
Allowance for doubtful accounts	(475)	(475)
Total investments and other assets	16,116	16,236
Total non-current assets	47,912	46,925
Total assets		105,096	112,469

			(Millions of yen)
		As of December 31, 2020	As of March 31, 2021

Liabilities
Current liabilities		15,520
Notes and accounts payable - trade	12,377
Electronically recorded obligations - operating	5,840	7,732
Current portion of bonds payable	40	40
Short-term borrowings	10,055	11,560
Current portion of long-term borrowings	2,325	1,858
Income taxes payable	1,286	1,195
Accrued consumption taxes	1,149	941
Notes payable - facilities	177	90
Provision for bonuses	1,578	1,151
Provision for loss on order received	4	-
Provision for product warranties	75	83
Other	8,737	9,068
Total current liabilities	43,646	49,245
Non-current liabilities		100
Bonds payable	100
Long-term borrowings	6,491	6,744
Lease obligations	1,917	1,867
Deferred tax liabilities	448	428
Retirement benefit liability	4,131	4,219
Provision for retirement benefits for directors (and	99	93
other officers)
	90
Provision for loss on voluntary recall of products	90
Other	3,979	3,962
Total non-current liabilities	17,259	17,506
Total liabilities	60,906	66,751
Net assets
Shareholders' equity		5,294
Share capital	5,294
Capital surplus	9,628	9,628
Retained earnings	28,950	30,306
Treasury shares	(182)	(182)
Total shareholders' equity	43,691	45,047
Accumulated other comprehensive income
Valuation difference on available-for-sale	473	649
securities
(89)	(30)
Foreign currency translation adjustment
Remeasurements of defined benefit plans	(308)	(292)
Total accumulated other comprehensive income	75	326
Share acquisition rights	45	45
Non-controlling interests	377	298
Total net assets	44,189	45,717
Total liabilities and net assets		105,096	112,469

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