Ryoden : Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

[Japanese GAAP]

May 10, 2021

Company name: Ryoden Corporation

Stock exchange listing: Tokyo Stock Exchange

Code number: 8084

URL: https://www.ryoden.co.jp/

Representative: Nobuo Shogaki, President & CEO

Contact: Hirozou Tomomori, General Manager, General Affairs Department

Phone: [phone]

Scheduled date of Annual General Meeting of Shareholders: June 24, 2021

Scheduled date of filing annual securities report: June 24, 2021

Scheduled date of commencing dividend payments: June 3, 2021

Availability of supplementary briefing material on annual financial results: Yes (Japanese only)

Schedule of annual financial results briefing session: Yes (for institutional investors, analysts and individual investors) (Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021)

(1) Consolidated Operating Results						(% indicates changes from the previous corresponding period.)
			Net sales				Operating profit		Ordinary profit		Profit attributable to
									owners of parent
Fiscal year ended		Million yen		%		Million yen	%		Million yen	%		Million yen	%
	196,841	(14.4)		3,415	(38.6)		3,653	(36.6)			2,343	(39.3)
March 31, 2021
Fiscal year ended		230,087		(4.3)		5,559	(1.2)		5,758	1.9			3,860	3.4
March 31, 2020
(Note) Comprehensive income: Fiscal year ended March 31, 2021: ¥3,522 million [17.1%]
			Fiscal year ended March 31, 2020: ¥3,009 million [8.1%]
		Profit per share		Diluted profit per	Return on equity		Ordinary profit	Operating profit
				share		to total assets	to net sales
Fiscal year ended				Yen					Yen			%				%		%
	107.79				107.23			3.4				2.9		1.7
March 31, 2021
Fiscal year ended		177.77				176.96			5.8				4.4		2.4
March 31, 2020
(Reference) Share of profit (loss) of entities accounted for using equity method:
Fiscal year ended March 31, 2021: ¥41 million
Fiscal year ended March 31, 2020: ¥43 million
(2) Consolidated Financial Position
			Total assets		Net assets	Equity ratio		Net assets per share
				Million yen			Million yen				%				Yen
As of March 31, 2021				125,529			69,919				55.6				3,208.01
As of March 31, 2020				128,304			67,557				52.5				3,104.00

(Reference) Equity: As of March 31, 2021: ¥69,759 million As of March 31, 2020: ¥67,415 million

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(3) Consolidated Cash Flows
			Net cash provided by	Net cash provided by	Net cash provided by	Cash and cash
			(used in)	(used in)	(used in)	equivalents at end of
			operating activities	investing activities	financing activities	period
Fiscal year ended			Million yen		Million yen		Million yen	Million yen
		1,939		183		(1,052)		21,120
March 31, 2021
Fiscal year ended			5,938		(518)		(2,281)		20,165
March 31, 2020
2. Dividends
				Annual dividends		Total	Payout	Dividends
								ratio	to net
			1st	2nd	3rd
			Year-end	Total	dividends	assets
			quarter-end	quarter-end	quarter-end		(consolidated)	(consolidated)
	Fiscal year ended		Yen	Yen	Yen	Yen	Yen	Million yen	%	%
		―	28.00	―	28.00	56.00	1,216	31.5	1.8
	March 31, 2020
	Fiscal year ended		―	28.00	―	28.00	56.00	1,217	52.0	1.8
	March 31, 2021
	Fiscal year ending
	March 31, 2022		―	28.00	―	28.00	56.00		40.6
	(Forecast)

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit	Ordinary profit	Profit attributable	Profit per share
		to owners of parent
First half	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
106,000	14.3	1,400	14.0	1,500	11.3	1,000	(6.8)	46.00
Full year	220,000	11.8	4,300	25.9	4,400	20.4	3,000	28.0	138.00

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* Notes:

1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
3. 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
   4. Retrospective restatement: No
4. Total number of issued shares (common stock)
5. 1. Total number of issued shares at the end of the period (including treasury stock):

March 31, 2021: 22,824,977 shares

March 31, 2020: 22,824,977 shares

1. Total number of treasury stock at the end of the period: March 31, 2021: 1,079,636 shares
   March 31, 2020: 1,105,965 shares
2. Average number of shares during the period:

Fiscal year ended March 31, 2021: 21,738,988 shares

Fiscal year ended March 31, 2020: 21,714,533 shares

(Reference) Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 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	%		Million yen	%		Million yen	%		Million yen	%
	175,991	(13.7)		2,929	(40.7)		3,282	(36.7)	2,084	(39.2)
March 31, 2021
Fiscal year ended		203,965	(4.4)		4,938	(2.4)		5,187	(0.2)	3,426	(4.8)
March 31, 2020
			Profit per share				Diluted profit per share
Fiscal year ended							Yen					Yen
					95.90					95.40
March 31, 2021
Fiscal year ended						157.80					157.08
March 31, 2020
(2) Non-consolidated Financial Position
			Total assets		Net assets	Equity ratio		Net assets per share
				Million yen				Million yen		%			Yen
As of March 31, 2021			116,996				62,806		53.5			2,880.89
As of March 31, 2020			117,302				61,309		52.1			2,816.32

(Reference) Equity: As of March 31, 2021: ¥62,645 million As of March 31, 2020: ¥61,167 million

• These financial results are outside the scope of audit by certified public accountant or audit firm.
• Explanation of the proper use of financial results forecast and other notes

The statements concerning future performance presented in this document are prepared based on currently available information and certain preconditions which the Company believes to be reasonable at this time. Actual results may be different from any projections presented herein due to various factors.

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Consolidated Financial Statements

(1) Consolidated Balance Sheets

			(Million yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets	20,174	21,129
Cash and deposits
Notes and accounts receivable - trade	53,028	48,050
Electronically recorded monetary claims - operating	16,626	19,823
Merchandise and finished goods	20,857	19,285
Other	2,906	3,062
Allowance for doubtful accounts	(27)	(18)
Total current assets	113,565	111,332
Non-current assets
Property, plant and equipment	2,987	2,647
Buildings and structures
Accumulated depreciation	(2,199)	(1,915)
Buildings and structures, net	787	732
Machinery, equipment and vehicles	674	672
Accumulated depreciation	(352)	(386)
Machinery, equipment and vehicles, net	322	286
Tools, furniture and fixtures	1,202	1,163
Accumulated depreciation	(942)	(898)
Tools, furniture and fixtures, net	259	265
Land	2,752	2,597
Total property, plant and equipment	4,122	3,881
Intangible assets	561	643
Software
Other	61	81
Total intangible assets	623	724
Investments and other assets	6,639	6,988
Investment securities
Long-term prepaid expenses	43	81
Deferred tax assets	1,607	730
Other	2,141	2,018
Allowance for doubtful accounts	(439)	(228)
Total investments and other assets	9,993	9,591
Total non-current assets	14,738	14,197
Total assets		128,304	125,529

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(Million yen)

As of March 31, 2020

As of March 31, 2021

Liabilities

Current liabilities

Notes and accounts payable - trade Electronically recorded obligations - operating Short-term borrowings

Income taxes payable Other

Total current liabilities Non-current liabilities

Retirement benefit liability Other

Total non-current liabilities Total liabilities

Net assets Shareholders' equity

Share capital Capital surplus Retained earnings Treasury shares

Total shareholders' equity Accumulated other comprehensive income

Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans

Total accumulated other comprehensive income Share acquisition rights

Total net assets

Total liabilities and net assets

39,064	33,706
10,332	12,625
246	407
1,127	212
3,974	4,001
54,745	50,954
4,875	3,609
1,125	1,046
6,001	4,655
60,746	55,609
10,334	10,334
7,419	7,437
50,544	51,671
(832)	(813)
67,465	68,629
1,060	1,633
314	69
(1,425)	(573)
(49)	1,129
142	160
67,557	69,919
128,304	125,529

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