Consolidated Financial Results

for the Nine Months Ended December 31, 2021

[Japanese GAAP]

February 2, 2022

Company name: DAIHEN Corporation

Stock exchange listing: Tokyo Stock Exchange, Fukuoka Stock Exchange

Stock exchange code: 6622

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

Representative: Shoichiro Minomo, President and Chief Executive Officer

Contact: Shigeo Ozawa, General Manager, Finance & Accounting Department, Planning Division

Phone: +81-6-6390-5506

Scheduled date of filing quarterly securities report: February 3, 2022

Scheduled date of commencing dividend payments: -

Availability of supplementary explanatory materials on quarterly financial results: No

Schedule of quarterly financial results briefing session: No

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

1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 1, 2021 - December 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

%

December 31, 2021

110,931

14.0

9,918

60.4

11,027

48.8

7,886

63.1

December 31, 2020

97,321

(2.9)

6,184

36.1

7,409

51.8

4,836

40.5

(Note) Comprehensive income: Nine months ended December 31, 2021: 9,069 million yen [49.1%]

Nine months ended December 31, 2020: 6,084 million yen [73.6%]

Basic earnings

Diluted

earnings

per share

per share

Nine months ended

Yen

Yen

December 31, 2021

319.48

-

December 31, 2020

195.93

-

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

As of December 31, 2021

186,061

102,928

52.2

As of March 31, 2021

175,132

96,921

52.1

(Reference) Equity: As of December 31, 2021: 97,051 million yen As of March 31, 2021: 91,174 million yen

2. Dividends

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

-

42.50

-

47.50

90.00

March 31, 2021

Fiscal year ending

-

50.00

-

March 31, 2022

Fiscal year ending

March 31, 2022

50.00

100.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently: None

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

(% indicates changes from the previous corresponding period.)

Profit attributable

Basic earnings

Net sales

Operating profit

Ordinary profit

to owners of

per share

parent

Full year

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

160,000

10.2

14,000

14.9

14,800

7.5

10,500

11.6

425.34

(Note) Revision to the financial results forecast announced most recently: None

* Notes:

  1. Changes in significant subsidiaries during the period under review: None (Changes in specified subsidiaries resulting in changes in scope of consolidation):

Newly included: - (

), Excluded: - (

)

  1. Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: Yes (Note) For details, please see "2. Quarterly Consolidated Financial Statements and Principal Notes (3) Notes to

  2. Quarterly Consolidated Financial Statements (Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements)" on page 8 of the attachments.
  3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: Yes
    2. Changes in accounting policies other than 1) above: None
    3. Changes in accounting estimates: None
    4. Retrospective restatement: None

(Note) For details, please see "2. Quarterly Consolidated Financial Statements and Principal Notes (3) Notes to Quarterly Consolidated Financial Statements (Changes in accounting policies)" on pages 8 and 9 of the attachments.

(4) Total number of issued shares (common shares)

1)

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

December 31, 2021:

27,103,291 shares

March 31, 2021:

27,103,291 shares

2)

Total number of treasury shares at the end of the period:

December 31, 2021:

2,416,933 shares

March 31, 2021:

2,419,521 shares

3) Average number of shares during the period:

Nine months ended December 31, 2021:

24,685,599 shares

Nine months ended December 31, 2020:

24,683,554 shares

  • These quarterly consolidated 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 contained in this report are based on information available to the Company on the date of this report's release and certain premises that the Company deems to be reasonable. Actual financial results, etc. may differ significantly due to a wide range of factors. For details on the earnings forecasts of the Company, please see "1. Qualitative Information on Quarterly Financial Results (3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the attachments.

Table of Contents - Attachments

1. Qualitative Information on Quarterly Financial Results ..................................................................................

2

(1)

Explanation of Operating Results.................................................................................................................

2

(2)

Explanation of Financial Position ................................................................................................................

3

(3)

Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ............

3

2. Quarterly Consolidated Financial Statements and Principal Notes ..................................................................

4

(1)

Quarterly Consolidated Balance Sheets .......................................................................................................

4

(2)

Quarterly Consolidated Statements of Income and Comprehensive Income ...............................................

6

(3)

Notes to Quarterly Consolidated Financial Statements................................................................................

8

(Notes on going concern assumption)........................................................................................................

8

(Notes in case of significant changes in shareholders' equity) ..................................................................

8

(Accounting methods adopted particularly for the preparation of quarterly consolidated financial

statements) ................................................................................................................................................

8

(Changes in accounting policies) ...............................................................................................................

8

(Segment information, etc.)........................................................................................................................

9

1

1. Qualitative Information on Quarterly Financial Results

  1. Explanation of Operating Results
    The DAIHEN Group's performance for the nine months ended December 31, 2021 was net sales of 110,931 million yen (up 14.0% year-on-year), due to strong investment in production automation in addition to the expansion of demand for semiconductor manufacturing equipment. In income results, although there was an impact of soaring prices of materials and electronic components, etc., the increase in net sales and the effectiveness of cost reductions resulted in operating profit of 9,918 million yen (up 3,733 million yen year-on- year), ordinary profit of 11,027 million yen (up 3,618 million yen year-on-year), and profit attributable to owners of parent of 7,886 million yen (up 3,050 million yen year-on-year).
    The performance of each segment is as follows.
  1. Power Products Business
    As a result of strong investment in the replacement of power distribution products, net sales were 46,850 million yen (up 6.3% year-on-year) and operating profit was 3,894 million yen (up 154 million yen year-on- year).
  2. Welding & Mechatronics Business
    Owing to strong investment in production automation in China, Europe and the United States amid the containment of COVID-19, net sales were 32,162 million yen (up 18.3% year-on-year) and operating profit was 2,942 million yen (up 1,332 million yen year-on-year).
  3. Semiconductor & FPD Related Business
    As aggressive capital investment continued in order to accommodate a broader range of semiconductor applications driven by the wider adoption of 5G, IoT, and other information communications technologies and to resolve a global shortage of semiconductors, net sales were 31,801 million yen (up 22.7% year-on-year) and operating profit was 5,895 million yen (up 1,699 million yen year-on-year).
  4. Other
    Net sales were 140 million yen and operating profit was 48 million yen. There were no significant changes from the corresponding period of the previous year.
    (Reference) Performance by Segment

(Million yen)

Segment

Orders Received

Net Sales

Operating Profit

Amount

% change

Amount

% change

Amount

% change

Power Products Business

52,007

+9.0%

46,850

+6.3%

3,894

+4.1%

Welding & Mechatronics

34,406

+17.7%

32,162

+18.3%

2,942

+82.8%

Business

Semiconductor & FPD

44,253

+63.9%

31,801

+22.7%

5,895

+40.5%

Related Business

Other

140

-5.7%

140

-5.7%

48

-10.1%

Company Total

130,807

+25.7%

110,931

+14.0%

9,918

+60.4%

2

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Daihen Corporation published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 01:28:02 UTC.