Tri Chemical Laboratories : Consolidated Financial Results for the Nine Months Ended October 31, 2021

Consolidated Financial Results

for the Nine Months Ended October 31, 2021

[Japanese GAAP]

November 30, 2021

Company name: Tri Chemical Laboratories Inc.

Stock exchange listing: Tokyo Stock Exchange

Code number: 4369

URL: http://www.trichemical.com

Representative: Kiyoshi Tazuke, President

Contact: Yoshihide Suzuki, Director

Phone: [phone]

Scheduled date of filing quarterly securities report: December 15, 2021

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Not available

Scheduled date of quarterly results briefing session: Not scheduled

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

1. Consolidated Financial Results for the Nine Months Ended October 31, 2021 (February 1, 2021 to October 31, 2021)

(1) Consolidated Operating Results (cumulative)	(% indicates changes from the previous corresponding period.)
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent
Nine months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
October 31, 2021	8,527	16.2		2,350	6.7	4,074	19.0	3,159	18.1
October 31, 2020	7,339	20.0		2,203	31.7	3,424	29.1	2,674	29.6

(Note) Comprehensive income: Nine months ended October 31, 2021: ¥3,228 million (25.4%) Nine months ended October 31, 2020: ¥2,574 million (35.3%)

		Basic earnings	Diluted earnings
		per share	per share
Nine months ended	Yen	Yen
October 31,	2021	97.54	-
October 31,	2020	85.58	-

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the figures for basic earnings per share have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021. Diluted earnings per share are not presented as there were no dilutive shares.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio
	Million yen	Million yen	%
As of October 31, 2021	26,708	20,238	75.8
As of January 31, 2021	19,867	12,601	63.4

(Reference) Equity: As of October 31, 2021: ¥20,238 million As of January 31, 2021: ¥12,601 million

2. Dividends

			Annual dividends
	1st	2nd	3rd	Year-end	Total
	quarter-end	quarter-end	quarter-end
Fiscal year ended January	Yen	Yen	Yen	Yen	Yen
-	0.00	-	68.00	68.00
31, 2021
Fiscal year ending January	-	0.00	-
31, 2022
Fiscal year ending January				17.00	17.00
31, 2022 (Forecast)

(Note) Revision of dividend forecasts from recently announced figures: None

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. For the fiscal year ended January 31, 2021, the figures for dividends are presented in amounts of the actual dividends paid, and the figures for dividends for the fiscal year ending January 31, 2022 (forecast) are presented in amounts after the said stock split.

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

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings
		owners of parent	per share
	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	11,000	12.2	2,950	9.6	4,980	15.2	3,880	14.9	119.70

(Note) Revision of financial results forecast from recently announced figures: None

* Notes:

1. Changes in significant subsidiaries during the period under review: No (Changes in specific subsidiaries due to changes in the scope of consolidation)

New: - companies (company name)

, excluded: - companies (company name)

1. Application of accounting treatment specific to preparation of quarterly consolidated financial statements: 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 shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares):

As of October 31, 2021: 32,498,640 shares

As of January 31, 2021: 31,248,640 shares

1. Total number of treasury shares at the end of the period: As of October 31, 2021: 1,580 shares
   As of January 31, 2021: 1,580 shares
2. Average number of shares during the period:

Nine months ended October 31, 2021: 32,387,169 shares

Nine months ended October 31, 2020: 31,247,224 shares

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the total number of issued shares at the end of the period, the total number of treasury shares at the end of the period, and the average number of shares during the period have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021.

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

The earnings forecasts and other forward-looking statements herein are based on information currently available to the Company and certain assumptions deemed reasonable, and do not represent a commitment by the Company that they will be achieved. Actual results may differ significantly from these forecasts due to a wide range of factors.

Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheets

				(Thousand yen)
			As of January 31, 2021	As of October 31, 2021
	Assets
	Current assets
	Cash and deposits	1,698,612	7,023,736
	Notes and accounts receivable - trade	2,783,207	3,338,712
	Electronically recorded monetary claims - operating	1,119,212	870,149
	Merchandise and finished goods	13,422	64,820
	Work in process	713,613	805,868
	Raw materials and supplies	881,878	1,251,027
	Other	374,759	254,314
	Total current assets	7,584,706	13,608,629
	Non-current assets
	Property, plant and equipment
	Buildings and structures	5,020,683	5,229,794
	Accumulated depreciation	(1,233,191)	(1,430,918)
	Buildings and structures, net	3,787,491	3,798,875
	Machinery, equipment and vehicles	2,669,674	3,070,285
	Accumulated depreciation	(1,429,693)	(1,641,292)
	Machinery, equipment and vehicles, net	1,239,980	1,428,993
	Tools, furniture and fixtures	2,195,213	2,570,737
	Accumulated depreciation	(1,452,432)	(1,649,117)
	Tools, furniture and fixtures, net	742,780	921,619
	Land	714,933	714,933
	Other	1,556,937	1,296,240
	Accumulated depreciation	(162,616)	(223,978)
	Other, net	1,394,320	1,072,261
	Total property, plant and equipment	7,879,507	7,936,684
	Intangible assets	208,508	178,140
	Investments and other assets
	Investment securities	4,147,328	4,861,884
	Other	47,708	123,633
	Total investments and other assets	4,195,036	4,985,518
	Total non-current assets	12,283,053	13,100,343
	Total assets		19,867,759	26,708,973

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				(Thousand yen)
			As of January 31, 2021	As of October 31, 2021
	Liabilities
	Current liabilities
	Accounts payable - trade	525,821	776,475
	Short-term loans payable	580,000	-
	Current portion of long-term loans payable	615,547	815,755
	Income taxes payable	593,172	528,400
	Provision for bonuses	76,084	237,092
	Other	899,835	849,475
	Total current liabilities	3,290,460	3,207,199
	Non-current liabilities
	Long-term loans payable	3,160,646	2,502,639
	Net defined benefit liability	102,327	108,552
	Other	712,935	652,192
	Total non-current liabilities	3,975,908	3,263,384
	Total liabilities	7,266,369	6,470,583
	Net assets
	Shareholders' equity
	Capital stock	808,912	3,278,912
	Capital surplus	709,912	3,179,912
	Retained earnings	11,062,738	13,690,576
	Treasury shares	(1,720)	(1,720)
	Total shareholders' equity	12,579,843	20,147,681
	Accumulated other comprehensive income
	Valuation difference on available-for-sale securities	(168)	106
	Foreign currency translation adjustments	38,500	104,900
	Remeasurements of defined benefit plans	(16,785)	(14,298)
	Total accumulated other comprehensive income	21,545	90,708
	Total net assets	12,601,389	20,238,390
	Total liabilities and net assets		19,867,759	26,708,973

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