Tri Chemical Laboratories : Consolidated Financial Results for the Three Months Ended April 30, 2021

Consolidated Financial Results

for the Three Months Ended April 30, 2021

[Japanese GAAP]

May 31, 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: June 14, 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 Three Months Ended April 30, 2021 (February 1, 2021 to April 30, 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
	Three months ended	Million yen	%		Million yen	%		Million yen	%	Million yen	%
	April 30, 2021	2,594	13.4		723	1.4		1,234	12.3	944	9.2
	April 30, 2020	2,287	10.3		713	21.8		1,099	20.8	864	21.9
	(Note) Comprehensive	income: Three Months	ended April 30, 2021: ¥	1,119 million (61.4%)
		Three Months ended April 30, 2020: ¥693 million (-4.0%)
		Basic earnings	Diluted earnings
		per share			per share
	Three months ended		Yen		Yen
	April 30, 2021		29.36			-
	April 30, 2020		27.66			-

(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 April 30, 2021	25,014	18,129	72.5
As of January 31, 2021	19,867	12,601	63.4

(Reference) Equity: As of April 30, 2021: ¥18,129 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
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended January	-	0.00	-	68.00	68.00
31, 2021
Fiscal year ending January	-
31, 2022
Fiscal year ending January		0.00	-	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	Basic earnings
		to owners of parent	per share
	Million yen	%	Million yen	%	Million yen	% Million yen	%	Yen
First half	5,100	6.0	1,220	(21.1)	1,880	(18.1)	1,470	(18.2)	45.47
Full year	10,700	9.2	2,700	0.3	4,400	1.8	3,470	2.7	107.05

(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 April 30, 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 April 30, 2021: 1,580 shares
   As of January 31, 2021: 1,580 shares
2. Average number of shares during the period:

Three months ended April 30, 2021: 32,159,981 shares

Three months ended April 30, 2020: 31,247,228 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 April 30, 2021
Assets
Current assets
Cash and deposits	1,698,612	7,487,888
Notes and accounts receivable - trade	2,783,207	2,598,566
Electronically recorded monetary claims - operating	1,119,212	721,130
Merchandise and finished goods	13,422	80,176
Work in process	713,613	793,918
Raw materials and supplies	881,878	1,048,457
Other	374,759	140,430
Total current assets	7,584,706	12,870,568
Non-current assets
Property, plant and equipment
Buildings and structures	5,020,683	5,091,230
Accumulated depreciation	(1,233,191)	(1,299,760)
Buildings and structures, net	3,787,491	3,791,469
Machinery, equipment and vehicles	2,669,674	2,701,236
Accumulated depreciation	(1,429,693)	(1,491,133)
Machinery, equipment and vehicles, net	1,239,980	1,210,102
Tools, furniture and fixtures	2,195,213	2,302,697
Accumulated depreciation	(1,452,432)	(1,512,379)
Tools, furniture and fixtures, net	742,780	790,318
Land	714,933	714,933
Other	1,556,937	1,564,377
Accumulated depreciation	(162,616)	(185,142)
Other, net	1,394,320	1,379,234
Total property, plant and equipment	7,879,507	7,886,058
Intangible assets	208,508	200,571
Investments and other assets
Investment securities	4,147,328	3,993,743
Other	47,708	63,519
Total investments and other assets	4,195,036	4,057,262
Total non-current assets	12,283,053	12,143,892
Total assets		19,867,759	25,014,460

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				(Thousand yen)
			As of January 31, 2021	As of April 30, 2021
	Liabilities
	Current liabilities
	Accounts payable - trade	525,821	698,127
	Short-term loans payable	580,000	580,000
	Current portion of long-term loans payable	615,547	634,453
	Income taxes payable	593,172	339,533
	Provision for bonuses	76,084	214,513
	Other	899,835	718,214
	Total current liabilities	3,290,460	3,184,841
	Non-current liabilities
	Long-term loans payable	3,160,646	2,944,604
	Net defined benefit liability	102,327	104,402
	Other	712,935	650,820
	Total non-current liabilities	3,975,908	3,699,826
	Total liabilities	7,266,369	6,884,667
	Net assets
	Shareholders' equity
	Capital stock	808,912	3,278,912
	Capital surplus	709,912	3,179,912
	Retained earnings	11,062,738	11,475,660
	Treasury shares	(1,720)	(1,720)
	Total shareholders' equity	12,579,843	17,932,766
	Accumulated other comprehensive income
	Valuation difference on available-for-sale securities	(168)	191
	Foreign currency translation adjustments	38,500	212,791
	Remeasurements of defined benefit plans	(16,785)	(15,956)
	Total accumulated other comprehensive income	21,545	197,026
	Total net assets	12,601,389	18,129,792
	Total liabilities and net assets		19,867,759	25,014,460

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