November 10, 2022

Summary of the Consolidated Financial Results

for the Second Quarter Ended September 30, 2022〔under Japanese GAAP〕

① Financial Statements

1) Consolidated Balance Sheet

Millions of yen

FISCAL YEAR

SECOND QUARTER

2022/3

2022/9

Cash and deposits

14,771

14,099

Notes and accounts receivable - trade

10,642

11,271

Securities

776

790

Merchandise and finished goods

2,847

3,072

Work in process

1,611

1,562

Raw materials and supplies

2,284

2,607

Other

527

734

Allowance for doubtful accounts

(101)

(120)

Current assets

33,361

34,017

Buildings and structures, net

12,171

11,965

Machinery, equipment and vehicles, net

5,704

5,696

Land

6,655

6,705

Other, net

902

923

Property, plant and equipment

25,434

25,290

Intangible assets

240

220

Investment securities

10,715

12,721

Other

2,997

2,463

Allowance for doubtful accounts

(507)

(559)

Investments and other assets

13,205

14,625

Non-current assets

38,880

40,135

Assets

72,241

74,153

※Notes

・ Numbers with "( )" indicate negative numbers.

  • This report contains estimates and forecasts pertaining to the future plans and business results. Such statements are based on information available at the time of the report's production and include potential risks and uncertainties. Actual results may differ from estimates and forecasts contained herein.

1

Millions of yen

FISCAL YEAR

SECOND QUARTER

2022/3

2022/9

Notes and accounts payable - trade

1,489

1,635

Short-term borrowings

210

97

Income taxes payable

532

483

Provision for bonuses

914

821

Other

1,934

2,009

Current liabilities

5,081

5,046

Retirement benefit liability

5,360

5,331

Provision for business restructuring

259

272

Provision for share awards

116

107

Other

554

554

Non-current liabilities

6,290

6,264

Liabilities

11,372

11,311

Share capital

4,102

4,102

Capital surplus

7,129

7,129

Retained earnings

45,166

45,824

Treasury shares

(134)

(1,506)

Shareholders' equity

56,263

55,550

Valuation difference on available-for-sale securities

2,541

3,525

Revaluation reserve for land

196

196

Foreign currency translation adjustment

292

1,816

Remeasurements of defined benefit plans

(2)

(2)

Total accumulated other comprehensive income

3,028

5,535

Non-controlling interests

1,577

1,756

Net assets

60,869

62,841

Liabilities and net assets

72,241

74,153

2

  1. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income Consolidated Statement of Income

Millions of yen

SECOND QUARTER

2021/4-9

2022/4-9

Net sales

18,182

19,656

Cost of sales

13,355

14,210

Gross profit

4,826

5,446

Selling expenses

2,369

2,515

General and administrative expenses

1,374

1,394

Selling, general and administrative expenses

3,744

3,909

Operating profit

1,082

1,536

Interest income

9

10

Dividend income

75

96

Foreign exchange gains

7

236

Share of profit of entities accounted for using equity method

150

189

Subsidy income

24

0

Other

24

64

Non-operating income

292

598

Interest expenses

2

1

Other

4

3

Non-operating expenses

7

5

Ordinary profit

1,367

2,129

Gain on sale of non-current assets

64

Gain on sale of investment securities

33

4

Extraordinary income

98

4

Profit before income taxes

1,465

2,133

Income taxes - current

247

385

Income taxes - deferred

84

135

Income taxes

332

521

Profit

1,133

1,612

Profit attributable to non-controlling interests

44

62

Profit attributable to owners of parent

1,089

1,549

3

Consolidated Statement of Comprehensive Income

Millions of yen

SECOND QUARTER

2021/4-9

2022/4-9

Profit

1,133

1,612

Other comprehensive income

Valuation difference on available-for-sale securities

44

983

Foreign currency translation adjustment

516

1,265

Remeasurements of defined benefit plans, net of tax

(48)

2

Share of other comprehensive income of entities accounted for using equity method

126

424

Other comprehensive income

639

2,676

Comprehensive income

1,772

4,289

(Comprehensive income attributable to)

Comprehensive income attributable to owners of parent

1,714

4,182

Comprehensive income attributable to non-controlling interests

58

106

4

3) Consolidated Statement of Cash Flows

Millions of yen

SECOND QUARTER

2021/4-9

2022/4-9

Cash flows from operating activities

Profit before income taxes

1,465

2,133

Depreciation

1,435

1,398

Increase (decrease) in allowance for doubtful accounts

7

7

Increase (decrease) in provision for bonuses

0

(120)

Increase (decrease) in retirement benefit liability

(124)

(58)

Increase (decrease) in provision for share awards

2

(9)

Increase (decrease) in provision for business restructuring

(11)

Interest and dividend income

(85)

(107)

Interest expenses

2

1

Share of loss (profit) of entities accounted for using equity method

(150)

(189)

Loss on retirement of property, plant and equipment

7

30

Loss (gain) on sale of property, plant and equipment

(69)

(1)

Loss (gain) on sale of investment securities

(33)

(4)

Decrease (increase) in trade receivables

(875)

(273)

Decrease (increase) in inventories

(30)

(232)

Increase (decrease) in trade payables

32

(57)

Other, net

916

(306)

Subtotal

2,500

2,198

Interest and dividends received

85

107

Interest paid

(2)

(1)

Income taxes paid

(87)

(402)

Net cash provided by (used in) operating activities

2,495

1,901

Cash flows from investing activities

Proceeds from sale of securities

1,000

Purchase of property, plant and equipment

(890)

(671)

Proceeds from sale of property, plant and equipment

149

1

Purchase of investment securities

(19)

(16)

Proceeds from sale of investment securities

34

20

Other, net

(105)

13

Net cash provided by (used in) investing activities

168

(652)

Cash flows from financing activities

Net increase (decrease) in short-term borrowings

(231)

(134)

Purchase of treasury shares

(0)

(1400)

Proceeds from sale of treasury shares

16

28

Dividends paid

(167)

(887)

Dividends paid to non-controlling interests

(18)

(53)

Repayments of lease liabilities

(41)

(42)

Net cash provided by (used in) financing activities

(442)

(2,490)

Effect of exchange rate change on cash and cash equivalents

212

582

Net increase (decrease) in cash and cash equivalents

2,434

(658)

Cash and cash equivalents at beginning of period

10,649

15,548

Cash and cash equivalents at end of period

13,084

14,889

5

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Asahi Diamond Industrial Co. Ltd. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 02:36:04 UTC.