OBIC : Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31,2022

Note: This document has been translated from a part of 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.

January 25, 2022

Consolidated Financial Results

for the Third Quarter of the Fiscal Year Ending March 31, 2022

(Under Japanese GAAP)

Company name:	OBIC Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	4684
URL:	https://www.obic.co.jp/
Representative:	Shoichi Tachibana, President and COO
Inquiries:	Tomonori Anan, Administrator of Business Planning Office and Accounting Div.
Telephone:	[phone]

Scheduled date to file quarterly securities report:	February 4, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)

(1) Consolidated operating results					(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	%
Nine months ended		66,654		-	40,439		11.6	44,510	12.5	32,412	13.1
December 31, 2021
Nine months ended		62,542		4.0	36,242		11.3	39,564	11.2	28,653	4.1
December 31, 2020
Note: Comprehensive income	Nine months ended December 31, 2021:	¥35,469 million	[13.2%]
		Nine months ended December 31, 2020:	¥31,324 million	[5.4%]
	Basic earnings	Diluted earnings
	per share		per share
			Yen		Yen
Nine months ended		364.93		-
December 31, 2021
Nine months ended		322.13		-
December 31, 2020

Note: OBIC Co., Ltd. (hereinafter "the Company") has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. effective from the beginning of the first quarter ended June 30, 2021. The percentages indicating year-on-year changes are not presented as the figures for net sales for the nine months ended December 31, 2021, are the figures after the application of this accounting standard. The year-on-year change, when calculated under the assumption that the accounting standard, etc. had been applied in the fiscal year ended March 31, 2021, was an increase of 9.7%.

(2) Consolidated financial position

	Total assets		Net assets	Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
December 31, 2021	303,456		278,530	91.8	3,140.92
March 31, 2021	298,257		266,025	89.2	2,990.72
Reference: Equity
As of December 31, 2021:	¥278,530 million
As of March 31, 2021:	¥266,025 million

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2. Cash dividends

			Annual dividends per share
	First		Second		Third		Fiscal		Total
	quarter-end		quarter-end		quarter-end		year-end
	Yen		Yen		Yen		Yen		Yen
Fiscal year ended	-	80.00		-		105.00	185.00
March 31, 2021
Fiscal year ending	-	92.50		-
March 31, 2022
Fiscal year ending							122.50	215.00
March 31, 2022 (Forecast)
Notes: 1. Revision to the most recently announced forecast of dividends: Yes

2. For details regarding the revision to the forecast of dividends, please refer to the "Notice Regarding Revision to Forecast of Year-End Dividends for the Fiscal Year Ending March 31, 2022 (Dividend Increase)" announced today (January 25, 2022).

3. Consolidated earnings forecasts for the fiscal 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	Basic earnings per
		owners of parent	share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Fiscal year ending	90,000		10.7	52,000	8.2	56,000	6.5	40,000	5.3	450.54
March 31, 2022

Notes: 1. Revision to the most recently announced earnings forecasts: None

1. The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. was applied from the beginning of the first quarter ended June 30, 2021 and the above consolidated earnings forecasts represent the figures after the application of the said accounting standard, etc. The percentages indicating year-on-year changes were calculated under the assumption that the said accounting standard, etc. had been applied for the fiscal year ended March 31, 2021.
2. The Company revised basic earnings per share due to the acquisition of treasury shares during the period.

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* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
   Newly included: -
   Excluded: -
2. Application of special accounting treatments for the preparation of quarterly consolidated financial statements: None
3. Changes in accounting policies, changes in accounting estimates, and restatement
4. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None

Note: For details, please refer to "(4) Notes to quarterly consolidated financial statements, Changes in accounting policies" under "2. Quarterly consolidated financial statements" of the attached materials on page 9.

1. Number of issued shares (common shares)
2. 1. Total number of issued shares at the end of the period (including treasury shares)

As of December	31, 2021	99,600,000 shares
As of March 31,	2021	99,600,000 shares

(ii) Number of treasury shares at the end of the period

As of December	31, 2021	10,922,048 shares
As of March 31,	2021	10,649,548 shares

(iii) Average number of shares outstanding during the period

Nine months ended December 31, 2021	88,817,670 shares
Nine months ended December 31, 2020	88,950,452 shares

• Quarterly consolidated financial statements are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  There have been no revisions to the consolidated earnings forecasts for the full year that were announced on April 22, 2021. The above forecasts were prepared based on information currently available to the Company, and any statements herein do not constitute assurances regarding actual results by the Company. Moreover, actual business and other results may differ from the forecast due to various factors in the future. Please refer to the section of "(4) Explanation of consolidated earnings forecasts and other forward-looking statements" of "1. Qualitative information regarding financial results for the nine months ended December 31, 2021" on page 3 of [Attached Material] for details.

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Quarterly consolidated financial statements

(1) Quarterly consolidated balance sheet

		(Millions of yen)
	As of March 31, 2021	As of December 31, 2021
Assets
Current assets
Cash and deposits	150,745	151,545
Notes and accounts receivable - trade	11,035	-
Notes and accounts receivable - trade, and contract	-	11,765
assets
Merchandise and finished goods	103	80
Work in process	232	150
Raw materials and supplies	0	4
Other	930	975
Allowance for doubtful accounts	(1)	(1)
Total current assets	163,046	164,521
Non-current assets
Property, plant and equipment
Buildings and structures, net	26,485	26,128
Land	27,636	27,636
Other, net	2,143	2,389
Total property, plant and equipment	56,265	56,155
Intangible assets
Other	133	153
Total intangible assets	133	153
Investments and other assets
Investment securities	74,816	79,595
Other	3,997	3,033
Allowance for doubtful accounts	(2)	(2)
Total investments and other assets	78,811	82,626
Total non-current assets	135,211	138,934
Total assets	298,257	303,456

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		(Millions of yen)
	As of March 31, 2021	As of December 31, 2021
Liabilities
Current liabilities
Accounts payable - trade	3,523	3,805
Income taxes payable	9,706	4,360
Provision for bonuses	2,372	1,336
Other	8,329	7,119
Total current liabilities	23,931	16,621
Non-current liabilities
Retirement benefit liability	6,046	5,961
Asset retirement obligations	240	382
Other	2,014	1,960
Total non-current liabilities	8,300	8,304
Total liabilities	32,231	24,925
Net assets
Shareholders' equity
Share capital	19,178	19,178
Capital surplus	19,530	19,530
Retained earnings	240,028	254,897
Treasury shares	(22,140)	(27,562)
Total shareholders' equity	256,596	266,043
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	10,162	12,977
Revaluation reserve for land	(694)	(481)
Remeasurements of defined benefit plans	(39)	(9)
Total accumulated other comprehensive income	9,428	12,486
Total net assets	266,025	278,530
Total liabilities and net assets	298,257	303,456

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