Summary of Consolidated Financial Statements for the First Half Ended

June 30, 2023 [IFRS]

August 7, 2023

Company name: Lion Corporation

Listed stock exchanges: Tokyo Stock Exchange

Code: 4912

URL: http://www.lion.co.jp/en/

Representative: Masayuki Takemori, Representative Director, President and Executive Officer

Contact: Akihiko Takeo, Executive Officer, Director of Finance Department

Telephone: +81-3-6739-3711

Scheduled date of filing of quarterly financial report: August 10, 2023

Start date of payment of dividend: September 5, 2023

Supplementary materials prepared for quarterly results: Yes

Quarterly results information meeting held: Yes (for institutional investors, analysts, etc.)

Figures in this and subsequent tables are truncated at the nearest million.

1. Consolidated Results for the First Half Ended June 30, 2023 (January 1, 2023 - June 30, 2023)

(1) Consolidated Results (cumulative)

(Percentage figures denote year-on-year change)

Net sales

Operating profit

Profit before tax

Millions of yen

%

Millions of yen

%

Millions of yen

%

Six months ended

192,887

4.2

6,244

(56.2)

7,229

(54.1)

June 30, 2023

Six months ended

185,195

6.9

14,267

0.6

15,749

(1.1)

June 30, 2022

Profit for the period

Total comprehensive

Profit for the period

attributable to

income for the period

owners of the parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Six months ended

5,096

(55.3)

4,298

(61.1)

14,125

(18.1)

June 30, 2023

Six months ended

11,400

(3.4)

11,055

2.2

17,243

20.0

June 30, 2022

Note: Core operating income for the six months ended June 30, 2023 was ¥6,363 million (down 30.0% year on year). Core operating income for the six months ended June 30, 2022 was ¥9,096 (down 35.2% year on year).

Core operating income is an earnings indicator the Company uses to measure regular business performance by subtracting selling, general and administrative expenses from gross profit.

Basic earnings per share

Diluted earnings per share

Yen

Yen

Six months ended

15.12

15.09

June 30, 2023

Six months ended

38.75

38.68

June 30, 2022

(2) Consolidated Financial Position

Equity

Ratio of equity

attributable to

attributable to

Total assets

Total equity

owners of the

owners of the

parent to total

parent

assets

Millions of yen

Millions of yen

Millions of yen

%

June 30, 2023

469,540

289,257

272,964

58.1

December 31, 2022

469,278

279,168

264,255

56.3

2. Dividends

Cash dividends per share

First

Second

Third

Year-End

Total

Quarter

Quarter

Quarter

Yen

Yen

Yen

Yen

Yen

Fiscal 2022

-

12.00

-

13.00

25.00

Fiscal 2023

-

13.00

Fiscal 2023

-

13.00

26.00

(forecast)

Note: Changes from the most recently published forecast of dividends: No

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2023 (January 1, 2023 - December 31, 2023)

(Percentage figures denote year-on-year change)

Net sales

Operating profit

Profit for the period

Basic earnings per

attributable to owners of

share

the parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Fiscal 2023

410,000

5.2

25,000

(13.3)

17,500

(20.2)

61.45

Notes: 1.

Core operating income forecast:

Fiscal 2023: ¥25,000 million

2.

Changes from the most recently published financial results forecast: No

Notes

  1. Significant Change in Scope of Consolidation during Period: No
  2. Changes in accounting principles, procedures and presentation methods in connection with the preparation of quarterly consolidated financial statements:
    1. Changes in accounting standards required under IFRS: No
    2. Other changes: No
    3. Changes in accounting estimates: No
  4. Number of outstanding shares (common stock)
    a. Number of outstanding shares on balance sheet dates (including treasury stocks):

As of June 30, 2023:

292,536,446 shares

As of December 31, 2022:

292,536,446 shares

b. Number of treasury stocks on balance sheet date:

As of June 30, 2023:

8,074,554 shares

As of December 31, 2022:

8,304,250 shares

c. Average number of shares outstanding over period

Six months ended June 30, 2023:

284,351,758 shares

Six months ended June 30, 2022:

285,294,727 shares

  • This report is not subject to review by a certified public accountant or external auditor.
  • Appropriate use of results forecasts; other special items

The forecasts and projected operating results contained in this report are based on information available at the time of preparation and thus involve inherent risks and uncertainties, including those related to economic conditions, the competitive environment and exchange rate fluctuations. Accordingly, readers are cautioned that actual results may differ materially from those projected as a result of a variety of factors. For information on forecasts of operating results, see I. Qualitative Information Concerning the Results of Operations for the First Half of the Current Fiscal Year (3) Forecast of Consolidated Financial Results on page 8.

Lion Corporation (Code 4912): Consolidated Financial Statements for the First Half Ended June 30, 2023

Contents

1. Qualitative Information Concerning the Results of Operations for the First Half of the Current Fiscal

Year ----------------------------------------------------------------------------------------------------------------------------

2

(1)

Consolidated Performance--------------------------------------------------------------------------------------------

2

(2)

Financial Status ----------------------------------------------------------------------------------------------------------

8

(3)

Forecast of Consolidated Financial Results ----------------------------------------------------------------------

8

2. Condensed Consolidated Financial Statements and Notes ----------------------------------------------------

9

(1)

Condensed Consolidated Statement of Financial Position -------------------------------------------------

9

(2)

Condensed Consolidated Statement of Income and Statement of Comprehensive Income

---- 11

(3)

Condensed Consolidated Statement of Changes in Equity ----------------------------------------------

13

(4)

Notes to Condensed Consolidated Financial Statements ------------------------------------------------

15

Notes relating to the assumption of a going concern ----------------------------------------------------------------------------

15

Segment Information ---------------------------------------------------------------------------------------------------------------------

15

1

Lion Corporation (Code 4912): Consolidated Financial Statements for the First Half Ended June 30, 2023

1. Qualitative Information Concerning the Results of Operations for the First Half of the Current Fiscal Year

(1) Consolidated Performance

Consolidated results for the first half of fiscal 2023 (January 1, 2023-June 30, 2023) are as follows. Net sales amounted to ¥192,887 million, a year-on-year increase of 4.2% (or a 2.2% increase at constant currency excluding exchange rate fluctuations). Core operating income came to ¥6,363 million, down 30.0% compared with the previous fiscal year, and operating profit to ¥6,244 million, down 56.2% year on year. Profit for the period attributable to owners of the parent totaled ¥4,298 million, down 61.1% compared with the previous fiscal year.

The Lion Group is advancing initiatives based on three growth strategies under Vision2030 1st STAGE, its medium-term management plan for the three years beginning 2022. These three strategies are "Accelerate growth in four fields of value creation," "Transform our business foundations for growth" and "Generate dynamism to realize innovative change."

In its domestic operations, Lion introduced new high-value-added fabric softeners and toothbrushes while cultivating mainstay brands. In its overseas operations, in addition to efforts to expand its business in the personal care field, which includes oral care and beauty care products, the Group invested in a healthcare company in Vietnam, aiming to create new foundations for growth.

Consolidated Results

(Millions of yen)

Six months ended

Ratio to

Six months ended

Ratio to

Change

Change

June 30, 2023

net sales

June 30, 2022

net sales

(%)

Net sales

192,887

185,195

7,691

4.2%

Core operating income

6,363

3.3%

9,096

4.9%

(2,733)

(30.0%)

Operating profit

6,244

3.2%

14,267

7.7%

(8,022)

(56.2%)

Profit for the period

attributable to owners of

4,298

2.2%

11,055

6.0%

(6,757)

(61.1%)

the parent

Notes: 1. Core operating income is an earnings indicator the Company uses to measure regular business performance by subtracting selling, general and administrative expenses from gross profit.

2. Operating profit includes gain on transfer of land held by a consolidated subsidiary (transferred January 31, 2022).

2

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Lion Corporation published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 06:10:21 UTC.