Mitani Sangyo Co., Ltd.TSE: 8285

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2021(Based on Japanese GAAP)

Aug 2, 2021 at 7:01 AM UTC · Issued by Mitani Sangyo Co., Ltd.

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 Three Months Ended June 30, 2021 (Based on Japanese GAAP)

				July 30, 2021
Company name:	MITANI SANGYO CO., LTD.
Stock exchange listing:	Tokyo, Nagoya
Stock code:	8285	URL https://www.mitani.co.jp/
Representative:	President & CEO	Tadateru Mitani
Inquiries:	Senior Managing Director & CFO	Seiji Nishino	TEL 076-233-2151
Scheduled date to file Quarterly Securities Report:	August 6, 2021
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)

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

	Millions of yen		%		Millions of yen	%	Millions of yen		%		Millions of yen	%
Three months ended June 30, 2021	19,333		31.8			143	-		360		-			186	-
Three months ended June 30, 2020	14,672		(8.2)		(183)	-		3		(98.7)		(100)	-

	Earnings per share				Diluted earnings per share
				Yen					Yen
Three months ended June 30, 2021				3.04					-
Three months ended June 30, 2020			(1.64)				-
(2) Consolidated financial position
	Total assets					Net assets	Equity ratio			Net assets per share
	Millions of yen				Millions of yen				%				Yen
As of June 30, 2021		78,664						38,333				48.6				620.82
As of March 31, 2021		81,683						41,135				47.7				632.43
2. Cash dividends
							Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen					Yen			Yen				Yen		Yen
Year ended March 31, 2021		-				4.50			-				4.50		9.00
Year ending March 31, 2022		-
Year ending March 31, 2022 (Forecast)						4.50			-				4.50		9.00

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 profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent

	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	80,000	(0.7)	1,900	(26.0)	2,500	(25.4)	1,600	(29.3)	25.99

4. Notes

Changes in significant subsidiaries during the three months ended June 30, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

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

	As of June 30, 2021	61,772,500	shares	As of March 31, 2021	61,772,500	shares
Number of treasury shares at the end of the period
	As of June 30, 2021	201,915	shares	As of March 31, 2021	201,873	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2021	61,570,606	shares	Three months ended June 30, 2020	61,571,693	shares

Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2021	As of June 30, 2021
Assets
Current assets
Cash and deposits	6,679	5,964
Notes and accounts receivable - trade	18,104	14,358
Electronically recorded monetary claims - operating	3,073	4,083
Accounts receivable from completed construction	4,588	6,505
contracts

Merchandise and finished goods	2,532	3,081
Work in process	2,123	666
Costs on construction contracts in progress	54	118
Raw materials and supplies	1,248	1,241
Other	1,435	1,388
Allowance for doubtful accounts	(1)	(1)
Total current assets	39,837	37,406
Non-current assets
Property, plant and equipment
Buildings and structures, net	9,427	9,402
Land	3,762	3,762
Other, net	3,177	3,054
Total property, plant and equipment	16,367	16,219
Intangible assets
Software	717	707
Other	158	150
Total intangible assets	875	858
Investments and other assets
Investment securities	22,341	21,807
Other	2,262	2,372
Total investments and other assets	24,603	24,180
Total non-current assets	41,846	41,258
Total assets		81,683	78,664

			(Millions of yen)
		As of March 31, 2021	As of June 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	10,716	8,990
Electronically recorded obligations - operating	1,852	1,514
Accounts payable for construction contracts	1,332	2,045
Short-term borrowings	11,361	11,807
Income taxes payable	636	224
Provision for bonuses for directors (and other officers)	162	30
Provision for loss on order received	4	11
Provision for warranties for completed construction	44	47
Provision for shareholder benefit program	38	38
Other	4,627	4,050
Total current liabilities	30,776	28,760
Non-current liabilities
Long-term borrowings	4,422	6,393
Provision for retirement benefits for directors (and other	737	769
officers)

Retirement benefit liability	227	232
Asset retirement obligations	237	237
Other	4,145	3,936
Total non-current liabilities	9,771	11,570
Total liabilities	40,547	40,330
Net assets
Shareholders' equity
Share capital	4,808	4,808
Capital surplus	3,768	3,357
Retained earnings	23,302	23,393
Treasury shares	(42)	(42)
Total shareholders' equity	31,836	31,516
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	7,552	7,151
Deferred gains or losses on hedges	0	0
Foreign currency translation adjustment	(437)	(431)
Remeasurements of defined benefit plans	(13)	(12)
Total accumulated other comprehensive income	7,102	6,708
Non-controlling interests	2,196	109
Total net assets	41,135	38,333
Total liabilities and net assets		81,683	78,664

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2020	June 30, 2021
Net sales	14,672	19,333
Cost of sales	11,645	15,728
Gross profit	3,027	3,604
Selling, general and administrative expenses	3,210	3,461
Operating profit (loss)	(183)	143
Non-operating income
Interest income	2	4
Dividend income	120	153
Share of profit of entities accounted for using equity method	20	-
Rent income on real estate and facilities	45	47
Foreign exchange gains	16	21
Other	42	72
Total non-operating income	248	298
Non-operating expenses
Interest expenses	16	19
Share of loss of entities accounted for using equity method	-	15
Rent expenses on real estate and facilities	30	32
Other	14	14
Total non-operating expenses	61	81
Ordinary profit	3	360
Extraordinary income
Gain on sale of non-current assets	0	0
Total extraordinary income	0	0
Extraordinary losses
Loss on sale of non-current assets	0	-
Loss on retirement of non-current assets	0	2
Loss on valuation of investment securities	-	0
Total extraordinary losses	0	3
Profit before income taxes	2	358
Income taxes	125	169
Profit (loss)	(122)	188
Profit (loss) attributable to non-controlling interests	(21)	1
Profit (loss) attributable to owners of parent		(100)	186

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