OBIC : Summary of Financial Results for the first quarter 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.

July 21, 2021

Consolidated Financial Results

for the First 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:	August 6, 2021
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 three months ended June 30, 2021 (from April 1, 2021 to June 30, 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	%
Three months ended		21,098		-	12,731			9.3	14,266	9.0	10,792	10.2
June 30, 2021
Three months ended		20,106		3.6	11,653			12.0	13,089	13.5	9,797	(6.0)
June 30, 2020
Note: Comprehensive income	Three months ended June 30, 2021:		¥13,159 million	[22.6%]
		Three months ended June 30, 2020:		¥10,732 million	[2.5%]
	Basic earnings	Diluted earnings
	per share		per share
			Yen		Yen
Three months ended		121.33		-
June 30, 2021
Three months ended		110.14		-
June 30, 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 three months ended June 30, 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 7.3%.

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(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
June 30, 2021	296,324		269,845	91.1	3,033.66
March 31, 2021	298,257		266,025	89.2	2,990.72
Reference: Equity
As of June 30, 2021:	¥269,845 million
As of March 31, 2021:	¥266,025 million

Note: 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 figures for the first quarter ended June 30, 2021, are the figures after the application of this accounting standard, etc.

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	-
March 31, 2022
Fiscal year ending	-	92.50		-		92.50	185.00
March 31, 2022 (Forecast)
Note: Revision to the most recently announced forecast of dividends: None

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	449.69
March 31, 2022
Notes 1: Revision to the most recently announced forecast of dividends: None

2. 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.

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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 June 30, 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 June 30, 2021	10,649,548 shares
As of March 31, 2021	10,649,548 shares

(iii) Average number of shares outstanding during the period

Three months ended June 30, 2021	88,950,452 shares
Three months ended June 30, 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 three months ended June 30, 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 June 30, 2021
Assets
Current assets
Cash and deposits	150,745	145,499
Notes and accounts receivable - trade	11,035	-
Notes and accounts receivable - trade, and contract	-	11,168
assets
Merchandise and finished goods	103	69
Work in process	232	208
Raw materials and supplies	0	22
Other	930	1,005
Allowance for doubtful accounts	(1)	(1)
Total current assets	163,046	157,972
Non-current assets
Property, plant and equipment
Buildings and structures, net	26,485	26,437
Land	27,636	27,636
Other, net	2,143	2,342
Total property, plant and equipment	56,265	56,416
Intangible assets
Other	133	132
Total intangible assets	133	132
Investments and other assets
Investment securities	74,816	77,539
Other	3,997	4,265
Allowance for doubtful accounts	(2)	(2)
Total investments and other assets	78,811	81,802
Total non-current assets	135,211	138,351
Total assets	298,257	296,324

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		(Millions of yen)
	As of March 31, 2021	As of June 30, 2021
Liabilities
Current liabilities
Accounts payable - trade	3,523	2,975
Income taxes payable	9,706	4,067
Provision for bonuses	2,372	3,372
Other	8,329	7,714
Total current liabilities	23,931	18,130
Non-current liabilities
Retirement benefit liability	6,046	6,050
Asset retirement obligations	240	313
Other	2,014	1,984
Total non-current liabilities	8,300	8,348
Total liabilities	32,231	26,478
Net assets
Shareholders' equity
Share capital	19,178	19,178
Capital surplus	19,530	19,530
Retained earnings	240,028	241,480
Treasury shares	(22,140)	(22,140)
Total shareholders' equity	256,596	258,049
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	10,162	12,306
Revaluation reserve for land	(694)	(481)
Remeasurements of defined benefit plans	(39)	(29)
Total accumulated other comprehensive income	9,428	11,796
Total net assets	266,025	269,845
Total liabilities and net assets	298,257	296,324

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