QD Laser : Non-consolidated Financial Results for the Year Ended March 31, 2021

Published May 19, 2021 at 6:03 a.m. UTC

Source: MarketScreener

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event o f any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Non-consolidated Financial Results

for the Year Ended March 31, 2021

[Japanese GAAP]

May 13, 2021

Company name: QD Laser, Inc.

Stock exchange listing:

Tokyo

Code number: 6613

URL: https://www.qdlaser.com/

Representative: Mitsuru Sugawara

President and Chief Executive Officer

Contact: Shinji Konoya

Chief Financial Officer

Phone: 044-333-3338

Scheduled date of Annual General Meeting of Shareholders: June 25, 2021

Scheduled date of commencing dividend payments: ―

Scheduled date of filing annual securities report:

June 25, 2021

Availability of supplementary briefing material on annual financial results:

Yes

Schedule of annual financial results briefing session:

Yes

(Amounts of less than one million yen are rounded down)

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (April 01, 2020 to March 31, 2021)

(1) Non-consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit

Fiscal year ended

Million yen

March 31, 2021

895

18.4

(654)

―

(707)

―

(879)

―

March 31, 2020

756

(21.3)

(1,207)

―

(1,225)

―

(1,240)

―

Basic earnings per

Diluted earnings per

Rate of return on

Ordinary profit to

Operating profit to

equity

total assets ratio

net sales ratio

Fiscal year ended

Yen

March 31, 2021

(32.94)

―

(31.8)

(18.6)

(73.1)

March 31, 2020

(72.24)

―

(64.2)

(41.4)

(159.6)

(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2021: Fiscal year ended March 31, 2020:

― million
― million

(2) Non-consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share

As of	Million yen		Million yen	%	Yen
March 31, 2021	4,675		3,808	81.5	110.13
March 31, 2020	2,919		1,729	59.2	68.82
(Reference) Equity: As of	March 31, 2021:	¥	3,808	million
As of	March 31, 2020:	¥	1,729	million
(3) Non-consolidated Cash Flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at the end
	operating activities	investing activities	financing activities
	of period

Fiscal year ended	Million yen		Million yen	Million yen	Million yen
March 31, 2021	(822)		(44)	2,643	3,224
March 31, 2020	(1,208)		(204)	1,161	1,464

2. Dividends

			Annual dividends			Total	Payout	Dividends
								to net
	1st		2nd	3rd				dividends	ratio
			Year-end	Total	assets
	quarter-end	quarter-end	quarter-end

Fiscal year ended		Yen	Yen	Yen		Yen	Yen	Million yen	%	%
March 31, 2020		―	0.00	―		0.00	0.00	―	―	―
March 31, 2021		―	0.00	―		0.00	0.00	―	―	―

Fiscal year ending
March 31, 2022		―	0.00	―		0.00	0.00		―-
(Forecast)

3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 01, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

	Net sales	Operating profit	Ordinary profit	Net profit		Basic earnings per
		share

	Million yen	%	Million yen		%	Million yen	%	Million yen	%	Yen
Full year	1,260	40.8	(533)		―	(505)	―	(508)	―	(14.71)
* Notes:
(1) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards:	No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates:	No

1. Retrospective restatement: No
Total number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

March 31, 2021:	34,584,180	shares
March 31, 2020:	25,132,380	shares
2) Total number of treasury shares at the end of the period:
March 31, 2021:	80	shares
March 31, 2020:	― shares

3) Average number of shares during the period:
Fiscal Year ended March 31, 2021:	26,707,673	shares
Fiscal Year ended March 31, 2020:	25,132,380	shares

Non-consolidated Financial Statements

Non-consolidated Balance Sheets

				(Thousand yen)
			As of March 31,2020	As of March 31,2021

Assets
	Current assets
		Cash and deposits	1,464,175	3,224,311
		Accounts receivable - trade	197,615	225,970
		Merchandise and finished goods	280,129	261,265
		Work in process	84,110	161,047
		Raw materials and supplies	237,568	382,802
		Accounts receivable - other	133,029	82,688
		Prepaid expenses	7,296	11,627
		Other	200	97
		Total current assets	2,404,125	4,349,812
	Non-current assets
		Property, plant and equipment
		Facilities attached to buildings, net	215,759	192,569
		Machinery and equipment, net	125,400	60,076
		Tools, furniture and fixtures, net	120,354	5,433
		Leased assets, net	6,274	4,221
		Construction in progress	-	26,400
		Total property, plant and equipment	467,790	288,701
		Intangible assets
		Software	14,712	5,268
		Leased assets	4,282	2,964
		Trademark right	2,979	2,573
		Total intangible assets	21,975	10,806
		Investments and other assets
		Shares of subsidiaries and associates	3,372	3,372
		Guarantee deposits	22,061	22,415
		Other	40	40
		Total investments and other assets	25,473	25,827
		Total non-current assets	515,238	325,335
	Total assets	2,919,364	4,675,147

				(Thousand yen)
			As of March 31,2020	As of March 31,2021

Liabilities
	Current liabilities
		Accounts payable - trade	195,038	218,308
		Short-term borrowings	100,000	-
		Current portion of long-term borrowings	174,644	257,964
		Lease obligations	3,625	3,744
		Accounts payable - other	205,123	133,381
		Accrued expenses	5,288	4,898
		Income taxes payable	3,110	4,415
		Provision for bonuses	58,988	51,238
		Deposits received	4,084	3,245
		Other	832	13,559
		Total current liabilities	750,735	690,754
	Non-current liabilities
		Long-term borrowings	365,356	107,392
		Lease obligations	8,100	4,355
		Asset retirement obligations	59,620	59,338
		Deferred tax liabilities	5,852	4,675
		Total non-current liabilities	438,929	175,762
	Total liabilities	1,189,664	866,517
Net assets
	Shareholders' equity
		Share capital	763,310	2,242,753
		Capital surplus
		Legal capital surplus	3,247,082	4,726,525
		Total capital surplus	3,247,082	4,726,525
		Retained earnings
		Other retained earnings
		Retained earnings brought forward	(2,280,692)	(3,160,522)
		Total retained earnings	(2,280,692)	(3,160,522)
		Treasury shares	-	(126)
		Total shareholders' equity	1,729,699	3,808,629
	Total net assets	1,729,699	3,808,629
Total liabilities and net assets	2,919,364	4,675,147

Non-consolidated Statements of Income

		(Thousand yen)
	For the fiscal year	For the fiscal year
	ended March 31,2020	ended March 31,2021

Net sales	756,633	895,620
Cost of sales
Beginning finished goods inventory	223,477	280,129
Cost of products manufactured	608,437	575,873
Total	831,914	856,002
Ending finished goods inventory	280,129	261,265
Total cost of sales	551,786	594,736
Gross profit	204,847	300,883
Selling, general and administrative expenses	1,412,087	955,708
Operating loss	(1,207,239)	(654,825)
Non-operating income
Interest income	935	253
Subsidy income	8,903	10,494
Other	1,060	468
Total non-operating income	10,899	11,217
Non-operating expenses
Interest expenses	3,416	5,254
Share issuance costs	4,356	-
Going public expenses	6,986	32,405
Foreign exchange losses	9,018	14,893
Other	5,621	11,606
Total non-operating expenses	29,399	64,161
Ordinary loss	(1,225,739)	(707,769)
Extraordinary losses
Impairment losses	11,130	168,817
Total extraordinary losses	11,130	168,817
Loss before income taxes	(1,236,869)	(876,587)
Income taxes - current	3,892	4,419
Income taxes - deferred	(594)	(1,177)
Total income taxes	3,297	3,242
Loss	(1,240,167)	(879,829)

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