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 Year Ended December 31, 2021

(Based on Japanese GAAP)

February 10, 2022

Company name:

Nicca Chemical Co., Ltd.

Stock exchange listing: Tokyo, Nagoya

Stock code:

4463

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

Representative:

President and Representative

EMORI Yasumasa

Director, Member of the Board

Inquiries:

General manager of Administration Division SAWASAKI Shoya

TEL 0776-24-0213

Scheduled date of ordinary general meeting of shareholders:

March 25, 2022

Scheduled date to file Securities Report:

March 28, 2022

Scheduled date to commence dividend payments:

March 28, 2022

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes

(for the press)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended December 31, 2021 (from January 1, 2021 to December 31, 2021)

(1) Consolidated operating results

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

%

Year ended December 31, 2021

48,474

17.7

2,453

73.2

2,706

64.5

2,595

148.5

Year ended December 31, 2020

41,179

(10.9)

1,416

1.5

1,645

23.3

1,044

16.0

Diluted earnings per

Profit attributable to

Ordinary profit/total

Operating profit/net

Earnings per share

owners of

share

parent/equity

assets

sales

Yen

Yen

%

%

%

Year ended December 31, 2021

164.82

-

11.3

5.0

5.1

Year ended December 31, 2020

66.40

-

5.1

3.0

3.4

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of December 31, 2021

54,533

27,323

45.9

1,589.37

As of December 31, 2020

53,175

23,166

39.5

1,335.60

(3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended December 31, 2021

4,722

(994)

(5,024)

6,373

Year ended December 31, 2020

6,479

(1,549)

(3,626)

7,190

2. Cash dividends

Annual dividends per share

Total cash

Dividend payout

Ratio of dividends

to net assets

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

dividends (Total)

ratio (Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Year ended December 31, 2020

-

4.00

-

6.00

10.00

159

15.1

0.8

Year ended December 31, 2021

-

8.00

-

14.00

22.00

351

13.3

1.4

Year ending December 31, 2022

-

11.00

-

11.00

22.00

28.9

(Forecast)

1

3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 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

48,500

-

2,100

-

2,300

(15.0)

1,200

(53.8)

76.13

Note : Beginning of the fiscal year ending December 31, 2022, the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29 ). The forecasts incorporate this accounting standard and comparisons with the previous fiscal year are omitted.

4. Notes

(1) Changes in significant subsidiaries during the year ended December 31, 2021

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) 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:

No

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

(3) Number of issued shares (common shares)

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

As of December 31, 2021

17,710,000

shares

As of December 31, 2020

17,710,000

shares

Number of treasury shares at the end of the period

As of December 31, 2021

1,948,421

shares

As of December 31, 2020

1,972,260

shares

Average number of shares during the period

Year ended December 31, 2021

15,749,890

shares

Year ended December 31, 2020

15,729,202

shares

  • Financial results reports are exempt from the audit procedures conducted by certified public accountants or an audit corporation.
  • Appropriate use of earnings forecasts and other special items

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable.

Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual earnings may differ significantly due to various factors.

2

Attached Material Index

1. Consolidated financial statements.......................................................................................................................................

4

(1)

Consolidated balance sheets................................................................................................................................................

4

(2)

Consolidated statements of income and consolidated statements of comprehensive income.............................................

6

Consolidated statements of income.....................................................................................................................................

6

Consolidated statements of comprehensive income...........................................................................................................

7

(3)

Consolidated statements of changes in equity.....................................................................................................................

8

(4)

Consolidated statements of cash flows..............................................................................................................................

10

3

Consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of December 31, 2020

As of December 31, 2021

Assets

Current assets

Cash and deposits

7,962

7,659

Notes and accounts receivable - trade

9,026

9,618

Merchandise and finished goods

4,224

4,895

Work in process

735

669

Raw materials and supplies

3,066

3,766

Other

963

952

Allowance for doubtful accounts

(2)

(0)

Total current assets

25,977

27,562

Non-current assets

Property, plant and equipment

Buildings and structures

26,054

26,509

Accumulated depreciation

(12,447)

(13,225)

Buildings and structures, net

13,607

13,283

Machinery, equipment and vehicles

19,001

19,901

Accumulated depreciation

(14,968)

(16,314)

Machinery, equipment and vehicles, net

4,033

3,587

Tools, furniture and fixtures

3,691

3,914

Accumulated depreciation

(3,165)

(3,314)

Tools, furniture and fixtures, net

526

599

Land

5,261

5,247

Leased assets

343

339

Accumulated depreciation

(127)

(172)

Leased assets, net

216

167

Construction in progress

81

392

Total property, plant and equipment

23,726

23,277

Intangible assets

Other

304

298

Total intangible assets

304

298

Investments and other assets

Investment securities

1,457

1,706

Investments in capital

2

2

Guarantee deposits

375

356

Deferred tax assets

951

980

Other

380

348

Allowance for doubtful accounts

(0)

(0)

Total investments and other assets

3,166

3,394

Total non-current assets

27,197

26,970

Total assets

53,175

54,533

4

(Millions of yen)

As of December 31, 2020

As of December 31, 2021

Liabilities

Current liabilities

Notes and accounts payable - trade

5,325

6,619

Short-term borrowings

8,033

5,662

Lease obligations

50

48

Accounts payable - other

1,471

1,539

Income taxes payable

357

570

Accrued consumption taxes

515

142

Provision for bonuses

556

772

Provision for bonuses for directors (and other

-

35

officers)

Other

1,051

1,312

Total current liabilities

17,361

16,702

Non-current liabilities

Long-term borrowings

8,267

6,038

Lease obligations

144

96

Long-term accounts payable - other

39

39

Retirement benefit liability

3,223

3,298

Provision for share-based compensation

75

115

Long-term deposits received

852

875

Other

44

42

Total non-current liabilities

12,647

10,506

Total liabilities

30,009

27,209

Net assets

Shareholders' equity

Share capital

2,898

2,898

Capital surplus

2,928

2,928

Retained earnings

16,909

19,284

Treasury shares

(1,465)

(1,444)

Total shareholders' equity

21,271

23,667

Accumulated other comprehensive income

Valuation difference

on

available-for-sale

365

632

securities

Foreign currency translation adjustment

(308)

1,002

Remeasurements of defined benefit plans

(309)

(251)

Total accumulated

other

comprehensive

(251)

1,383

income

Non-controlling interests

2,146

2,272

Total net assets

23,166

27,323

Total liabilities and net assets

53,175

54,533

5

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NICCA Chemical Co. Ltd. published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 01:10:02 UTC.