Tokyo Stock Exchange (TSE): 6264

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

MARUMAE CO., LTD.

FY2021 Financial Results Summary

October 8, 2021

TECHNOLOGY FOR THE FUTURE

Manufacturer of vacuum components for semiconductor and FPD production equipment

Marumae Co., Ltd. All Rights Reserved

1. Overview of Financial Results

P/L Analysis

P/L

FY2020

FY2021

Amount

Ratio

Amount

Ratio

YoY change ratio

(million yen)

(%)

(million yen)

(%)

(%)

Point

1. Status of orders received

Semiconductor sector: 4,850 million yen (43.1% YoY increase)

Orders received

Balance of the orders received

Net sales

Cost of sales

Gross profit

Selling and administrative expenses

Operating profit

Ordinary profit

Extraordinary loss (income)

Profit

EPS (yen)

4,346

ー

6,241

ー

43.6

791

ー

1,804

ー

128.1

4,388

100.0

5,369

100.0

22.4

3,008

68.5

3,552

66.2

18.1

1,380

31.5

1,817

33.8

31.7

483

11.0

610

11.4

26.0

896

20.4

1,207

22.5

34.7

834

19.0

1,200

22.4

43.9

142

3.3

22

0.4

(84.4)

690

15.7

902

16.8

30.7

53.34

ー

70.51

ー

32.2

FPD sector: 1,160 million yen (24.3% YoY increase)

Other sectors: 229 million yen (923.4% YoY increase)

2. Net sales

22.4% YoY increase

*The details for each sector are listed on the next page.

3. Cost of sales and gross profit

Material cost: 192 million yen increase (29.4% YoY increase)

Outsourcing expenses: 153 million yen increase (29.9% YoY increase)

Labor costs: 178 million yen increase (19.4% YoY increase)

Depreciation: 67 million yen increase (13.2% YoY increase)

4. Selling and administrative expenses

Personnel expenses: 64 million yen increase

Research and development expenses: 33 million yen increase

Marumae Co., Ltd. All Rights Reserved

-2-

1. Overview of Financial Results

Trends in Quarterly Business Results

(Unit:

Sales/cutting (semiconductor)

Sales/cutting (FPD)

Sales/cutting (other)

Fiscal Year

Other sales

Gross profit

Operating profit

Ended

million yen)

14

Ordinary profit

Profit

August 2021

1,600

386

1,400

1,200

58

1,299

273

76

175

277

244

251

17

1,000

111

198

276

164

1,050

977

944

263

904

800

871

111

884

893

831

102

771

766

707

607

600

648

430

400

427

346

200

0

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FY2018

FY2019

FY2020

FY2021

Point 1. Record sales for semiconductors, and sales recovery in FPD

Other sectors: 168 million yen (693.3% YoY increase)

Semiconductor sector: 4,221 million yen (31.8% YoY increase)

  • Favorable semiconductor market environment and a new record high in this quarter

FPD sector: 838 million yen (21.5% YoY decrease)

• Sales recovery due to improved market and EBW*-related sales

  • Focusing on semiconductor and FPD sectors and tending to curb orders in the other sectors while utilizing outsourcing

2. Improved profits in line with increased sales

  • Profit: 902 million yen (30.7% YoY increase)

*EBW: Electron beam welding

*The graph shows quarterly figures, but the numbers in the comments for each point are those for the fiscal year under review.

Marumae Co., Ltd. All Rights Reserved

-3-

1. Overview of Financial Results

B/S Analysis

B/S

Fiscal year ended

Fiscal year ended

1. Assets: 9,742 million yen (increased by 848 million yen

Point

from the end of the previous fiscal year)

Aug 2020

Aug 2021

(Unit: million yen)

• Machinery and equipment: 498 million yen increase

Current assets

4,369

4,813

• Trade receivables: 309 million yen increase

2. Liabilities: 3,415 million yen (increased by 227 million yen

Cash & deposits

2,540

2,505

from the end of the previous fiscal year)

• Accounts payable - other: 185 million yen increase

Trade receivables

• Accounts payable - trade: 133 million yen increase

(Notes receivable - trade,

1,376

1,685

3. Net assets: 6,327 million yen (increased by 621 million yen

accounts receivable - trade, and

from the end of the previous fiscal year)

electronically recorded monetary

• Dividends paid: 281 million yen

claims - operating)

• Retained earnings: 621 million yen increase

Inventories

438

597

• Equity ratio: 64.2% → 64.9%

Non-current assets

4,524

4,929

(Unit:

Long-term borrowings

Fiscal Year

Buildings & land

2,359

2,358

Current portion of long-term borrowings

Ended

million yen)

August 2021

Machinery & equipment

1,775

2,273

2,500

379

379

379

429

379

389

1,183

1,452

427

Current liabilities

389

2,000

389

Interest-bearing liabilities

389

427

(short-term)*

1,500

Non-current liabilities

2,004

1,963

Long-term borrowings

1,970

1,923

1,000

2,262

2,167

2,072

1,978

1,970

1,873

2,028

1,923

1,775

Total liabilities

3,188

3,415

500

Total net assets

5,706

6,327

Total assets

8,894

9,742

0

Term-end

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FY

*Interest-bearing liabilities (short-term):Short-term borrowings + Current portion of long-term borrowings

2019

Marumae Co., Ltd. All Rights Reserved

-4-

2. Business Environment

Trends in the Monthly Balance of Orders Received

1,800

1,600

1,400

1,200

1,000

800

600

400

200

0

（Unit: million yen）

Fiscal Year Ended

67

Semiconductor sector

August 2021

FPD sector

26

34

8

27

Other sectors

527

499 478

27

512 531

4

55

499

6

88

4

5

4

49

23

324

22

4

6

4

5

3

4

7

5

8

294

322 291

6

8

41

205

225

3

26

4

4

4

4

251 262

176

1,209

205

189

195

147 158 174 164 174

4

3

185 191 206

246 340

337 322

312

275

273 283

1,122

157

169

1,095

991 979

606 571 534 540 521 458 490 555 548 536 460 391 429 438 459 462 498 511 599 624 607 599 581 579 590 639 589 654 696 697 753

Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Jul Aug

Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Jul Aug

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug

FY2019

FY2020

FY2021

Point Semiconductor sector: In addition to a market that was strong overall, there were increased orders from a new customer.

  • FPD sector: There was a recovery trend in orders for G10.5 LCDs as well as for G6 OLED (organic LEDs). Market-share gains also contributed to the recovery.
  • Other sectors: There were orders related to our automated equipment and recovery in orders for solar cell production equipment parts.

*The Company's orders have varying lead times. When there are many orders with a long lead time, the order backlog tends to be high compared to sales, and the reverse is true when there are many orders with a short lead time.

Marumae Co., Ltd. All Rights Reserved

-5-

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Marumae Co. Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 06:11:10 UTC.