February 4, 2022

Consolidated Financial Results

For the Third Quarter Ended December 31, 2021

Company name： IBIDEN CO., LTD.

Stock exchange listings： Tokyo and Nagoya Stock Exchange

(Code number：4062)

URL： https://www.ibiden.co.jp/

Representative： Takeshi Aoki, President & CEO, Representative Director

Contact： Hisashi Sano, Vice President of Strategic Corporate Planning Operation

(Tel. +81-584-81-3111)

Filing date of quarterly securities report： February 4, 2022

(Amounts less than one million yen are omitted)

1. Consolidated Financial Results for FY 2021 Third quarter (From April 1, 2021 to December 31, 2021)

(1) Operating results

(Percentage figures indicate the change from the same period of the prior fiscal year)

Net sales

Operating profit

Ordinary profit

Profit (loss) attributable

to owners of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FY 2021 3rd quarter

299,234

30.2

54,429

98.9

57,459

98.8

37,442

75.0

FY 2020 3rd quarter

229,777

5.9

27,365

107.8

28,896

94.1

21,399

161.5

Note： Comprehensive income

FY 2021 3rd quarter： 44,866 million yen (28.1%)

FY 2020 3rd quarter： 35,037 million yen (269.1%)

Basic earnings

Diluted earnings

per share

per share

Yen

Yen

FY 2021 3rd quarter

268.20

-

FY 2020 3rd quarter

153.15

-

(2) Financial positions

Total assets

Net assets

Capital adequacy ratio

Net assets per share

Million yen

Million yen

%

Yen

FY 2021 3rd quarter

653,017

361,028

54.4

2,542.67

FY 2020

578,518

321,863

54.6

2,262.99

Note： Owner's equity

As of December 31, 2021 ： 354,977 million yen

As of March 31, 2021 ： 315,914 million yen

2. Notes

  1. Material changes in subsidiaries during this period ： None
  2. Applying of specific accounting of the consolidated quarterly financial statements： Yes
    The provision for income taxes is computed by multiplying profit before income taxes by estimated annual effective tax rates.
  3. Changes in accounting policies, accounting estimates and retrospective restatement (ⅰ) Changes in accounting policies based on revisions of accounting standard: Yes
    (Applying Accounting Standard for Revenue Recognition)
    "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020. Hereinafter "Revenue Recognition Standard") and related guidelines have been adopted from the beginning of the current first quarter. In line with this adoption, revenue is recognized upon the transfer of controls for promised goods or services to customers in an amount that reflects the consideration they expect to be entitled to in exchange for those goods or services.
    As a result, net sales increased by 1,868 million yen, cost of sales increased by 1,944 million yen and operating profit, ordinary profit, and profit before income taxes for the current first quarter decreased by 76 million yen. In addition, the balance of retained earnings at the beginning of the current first quarter decreased by 18 million yen.
    As a result of the adoption of the Revenue Recognition Standard, "Notes and accounts receivable - trade" which was presented in "Current assets" of the consolidated balance sheet for the previous fiscal year, is included in "Notes and accounts receivable - trade, and contract assets" from the first quarter of the current fiscal year. Following the transitional treatment outlined in Article 89-2 of the Revenue Recognition Standard, consolidated financial statements for past periods have not been reclassified using the new presentation method.
    (ⅱ) Changes in accounting policies other than the above: None
    (ⅲ) Changes in accounting estimates: None
    (ⅳ) Retrospective restatement: None
  4. Number of shares issued and outstanding (common stock)

(ⅰ) Number of shares outstanding (including treasury stock)：

As of December 31, 2021

140,860,557 shares

As of March 31, 2021

140,860,557 shares

(ⅱ) Number of treasury stock ：

As of December 31, 2021

1,252,469 shares

As of March 31, 2021

1,260,507 shares

(ⅲ) Average number of shares:：

FY 2021 3rd quarter

139,608,033 shares

FY 2020 3rd quarter

139,736,054 shares

* This quarterly financial result is not subject to auditing firms' quarterly review procedure.

Consolidated balance sheet

(Million yen)

As of

As of

Increase

Dec 31,2021

Mar 31,2021

(Decrease)

Assets

Current assets

Cash and deposits

161,167

126,884

34,283

Notes and accounts receivable - trade

-

89,796

(89,796)

Notes and accounts receivable - trade, and

105,198

-

105,198

contract assets

Merchandise and finished goods

21,453

13,653

7,800

Work in process

19,284

18,734

550

Raw materials and supplies

29,142

24,636

4,506

Other current assets

12,995

11,769

1,226

Allowance for doubtful accounts

(94)

(109)

14

Total current assets

349,146

285,364

63,782

Non-current assets

Property, plant and equipment

Buildings and structures

76,263

78,782

(2,519)

Machinery, equipment and vehicles

84,124

70,773

13,350

Land

20,181

19,971

210

Lease assets

250

246

3

Construction in progress

34,644

38,590

(3,946)

Other - property, plant and equipment

7,371

6,463

907

Total property, plant and equipment

222,834

214,828

8,006

Intangible assets

5,368

5,392

(23)

Investments and other assets

Investment securities

70,837

68,198

2,639

Long-term loans receivable

8

8

(0)

Deferred tax assets

3,731

3,488

243

Other assets

1,341

1,480

(139)

Allowance for doubtful accounts

(251)

(242)

(8)

Total investments and other assets

75,666

72,933

2,733

Total non-current assets

303,870

293,153

10,716

Total assets

653,017

578,518

74,498

(Continued)

(Million yen)

As of

As of

Increase

Dec 31,2021

Mar 31,2021

(Decrease)

Liabilities and net assets

Liabilities

Current liabilities

Notes and accounts payable - trade

55,834

45,717

10,116

Short-term loans payable

20,030

20,130

(100)

Current portion of bonds

20,000

15,000

5,000

Accounts payable - other

19,350

17,492

1,857

Income taxes payable

10,908

5,624

5,284

Provision for bonuses

2,170

4,802

(2,632)

Provision for bonuses for directors

-

155

(155)

Provision for loss on liquidation of subsidiaries

176

225

(49)

and associates

Notes payable - facilities

4,120

8,606

(4,486)

Other - current liabilities

18,800

14,144

4,655

Total current liabilities

151,390

131,899

19,490

Non-current liabilities

Bonds payable

50,000

35,000

15,000

Long-term loans payable

80,000

80,044

(44)

Lease obligations

186

172

14

Deferred tax liabilities for land revaluation

68

68

-

Retirement benefit liability

1,155

1,078

76

Provision for share-based compensation

452

352

100

Deferred tax liabilities

7,703

7,117

585

Other - non-current liabilities

1,032

921

110

Total non-current liabilities

140,598

124,755

15,843

Total liabilities

291,989

256,655

35,333

(Continued)

(Million yen)

As of

As of

Increase

Dec 31,2021

Mar 31,2021

(Decrease)

Net assets

Shareholders' equity

Capital stock

64,152

64,152

-

Capital surplus

64,494

64,433

60

Retained earnings

181,207

149,379

31,827

Treasury shares

(3,263)

(3,286)

22

Total shareholders' equity

306,590

274,679

31,910

Accumulated other comprehensive income

Valuation difference on available-for-sale

30,530

28,638

1,892

securities

Revaluation reserve for land

160

160

-

Foreign currency translation adjustment

17,696

12,435

5,260

Total accumulated other comprehensive income

48,387

41,234

7,152

Non-controlling interests

6,050

5,949

101

Total net assets

361,028

321,863

39,165

Total liabilities and net assets

653,017

578,518

74,498

(Concluded)

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Ibiden Co. Ltd. published this content on 04 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2022 06:35:13 UTC.