Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Six Months Ended May 31, 2022

(Based on Japanese GAAP)

July 13, 2022

Company name:

Astena Holdings Co.,Ltd.

Stock exchange listing:

Tokyo

Stock code:

8095

URL https://www.astena-hd.com

Representative:

President

Keitaro Iwaki

Inquiries:

Board Director

Masaaki Atsumi

TEL 03-3279-0481

Scheduled date to file Quarterly Securities Report:

July 13, 2022

Scheduled date to commence dividend payments:

August 5, 2022

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended May 31, 2022 (from December 1, 2021 to May 31, 2022)

(1) Consolidated operating results (cumulative)

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

%

Six months ended May 31, 2022

24,934

-

720

-

835

-

932

-

Six months ended May 31, 2021

36,249

17.6

1,494

88.4

1,573

94.0

975

80.8

Earnings per share

Diluted earnings per share

Yen

Yen

Six months ended May 31, 2022

23.33

-

Six months ended May 31, 2021

28.06

27.76

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of May 31, 2022

63,871

27,829

43.5

693.27

As of November 30, 2021

63,553

27,006

42.5

677.09

2. Cash dividends

Annual dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended November 30, 2021

-

9.00

-

9.00

18.00

Year ending November 30, 2022

-

9.00

Year ending November 30, 2022

-

9.00

18.00

(Forecast)

3. Forecast of consolidated financial results for the year ending November 30, 2022 (from December 1, 2021 to November 30, 2022) Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

50,000

-

1,000

-

1,000

-

1,100

-

27.59

1

4. Notes

  1. Changes in significant subsidiaries during the six months ended May 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
  2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:

Yes

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of May 31, 2022

40,772,366

shares

As of November 30, 2021

40,630,087

shares

Number of treasury shares at the end of the period

As of May 31, 2022

690,080

shares

As of November 30, 2021

753,787

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Six months ended May 31, 2022

39,982,434

shares

Six months ended May 31, 2021

34,781,914

shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Thousands of yen)

As of November 30, 2021

As of May 31, 2022

Assets

Current assets

Cash and deposits

10,927,061

10,383,126

Notes and accounts receivable - trade

13,542,403

-

Notes and accounts receivable - trade, and contract assets

-

13,275,246

Electronically recorded monetary claims - operating

3,171,123

3,405,011

Merchandise and finished goods

5,350,885

5,568,119

Work in process

2,130,371

1,732,423

Raw materials and supplies

1,856,915

2,053,025

Other

1,113,358

1,057,400

Allowance for doubtful accounts

(35,136)

(36,183)

Total current assets

38,056,982

37,438,170

Non-current assets

Property, plant and equipment

Buildings and structures

10,445,657

10,161,654

Accumulated depreciation

(6,361,673)

(6,318,296)

Buildings and structures, net

4,083,983

3,843,357

Machinery, equipment and vehicles

9,434,943

9,665,509

Accumulated depreciation

(7,829,996)

(8,044,044)

Machinery, equipment and vehicles, net

1,604,946

1,621,465

Land

3,690,159

3,242,688

Other

3,752,826

3,777,458

Accumulated depreciation

(2,622,882)

(2,676,539)

Other, net

1,129,943

1,100,919

Construction in progress

1,440,999

3,004,212

Total property, plant and equipment

11,950,032

12,812,643

Intangible assets

Goodwill

4,394,812

4,663,956

Technical assets

542,329

525,113

Customer relationship

2,183,926

2,153,767

Other

1,290,775

1,289,597

Total intangible assets

8,411,844

8,632,434

Investments and other assets

Investment securities

3,612,852

3,619,824

Retirement benefit asset

393,341

351,970

Other

1,152,551

1,040,231

Allowance for doubtful accounts

(23,954)

(23,822)

Total investments and other assets

5,134,790

4,988,204

Total non-current assets

25,496,667

26,433,282

Total assets

63,553,650

63,871,453

3

(Thousands of yen)

As of November 30, 2021

As of May 31, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade

8,851,843

8,656,978

Electronically recorded obligations - operating

3,265,906

3,447,837

Short-term borrowings

9,053,400

8,035,000

Accrued expenses

2,790,109

2,232,660

Income taxes payable

875,499

746,226

Provision for bonuses

794,853

913,024

Provision for sales returns

24,334

-

Provision for product warranties

4,914

3,774

Other

978,385

2,711,472

Total current liabilities

26,639,245

26,746,974

Non-current liabilities

Long-term borrowings

5,812,500

5,295,000

Deferred tax liabilities

936,999

748,160

Provision for share-based compensation

66,255

66,255

Retirement benefit liability

2,598,896

2,599,660

Other

493,480

585,505

Total non-current liabilities

9,908,132

9,294,581

Total liabilities

36,547,377

36,041,555

Net assets

Shareholders' equity

Share capital

4,528,304

4,557,400

Capital surplus

6,516,607

6,538,828

Retained earnings

15,027,322

15,752,072

Treasury shares

(254,106)

(234,779)

Total shareholders' equity

25,818,127

26,613,522

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

985,867

906,240

Deferred gains or losses on hedges

(763)

763

Foreign currency translation adjustment

103,839

180,788

Remeasurements of defined benefit plans

92,615

86,579

Total accumulated other comprehensive income

1,181,558

1,174,373

Non-controlling interests

6,586

42,001

Total net assets

27,006,272

27,829,897

Total liabilities and net assets

63,553,650

63,871,453

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

(Thousands of yen)

Six months ended

Six months ended

May 31, 2021

May 31, 2022

Net sales

36,249,985

24,934,991

Cost of sales

27,676,571

16,782,199

Gross profit

8,573,413

8,152,791

Selling, general and administrative expenses

7,078,582

7,432,742

Operating profit

1,494,831

720,049

Non-operating income

Interest income

1,241

1,215

Dividend income

25,650

27,451

Rental income

24,006

8,896

Foreign exchange gains

3,012

49,518

Other

88,609

90,448

Total non-operating income

142,521

177,530

Non-operating expenses

Interest expenses

28,098

26,931

Rent costs

15,000

-

Share of loss of entities accounted for using equity method

5,406

7,415

Other

14,890

28,217

Total non-operating expenses

63,395

62,563

Ordinary profit

1,573,957

835,016

Extraordinary income

Gain on sale of non-current assets

1,493

663,894

Gain on sale of investment securities

11

-

Gain on donation of a state subsidy

-

24,900

Total extraordinary income

1,505

688,794

Extraordinary losses

Loss on disposal of non-current assets

21,919

5,435

Loss on sale of non-current assets

1,336

-

Loss on transition of retirement benefit plan

-

54,459

Total extraordinary losses

23,255

59,895

Profit before income taxes

1,552,207

1,463,916

Income taxes - current

669,917

800,878

Income taxes - deferred

(93,527)

(264,947)

Total income taxes

576,389

535,931

Profit

975,817

927,985

Loss attributable to non-controlling interests

-

(4,984)

Profit attributable to owners of parent

975,817

932,969

5

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IWAKI & Co. Ltd. published this content on 13 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2022 00:13:02 UTC.