October 8, 2021

FY2021 Third-Quarter Consolidated Financial Results

(December 1, 2020 - August 31, 2021)

Company name

: OSG Corporation

Shares listed

: 1st section of Tokyo and Nagoya Stock Exchanges

Code number

: 6136

Location of the head office

: Aichi Prefecture

Representative:

: Nobuaki Osawa, President

Contact person:

: Junichi Kawamura, Accounting Manager

TEL: 81-533-82-1113 URL https://www.osg.co.jp/en/about_us/ir/

1. Consolidated Results for FY2021 Third-Quarter (December 1, 2020 - August 31, 2021)

(1)Consolidated financial results

(Amounts less than one million yen are omitted)

Net Sales

Operating income

Ordinary income

Net income attributable

to OSG Corporation

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FY2021 third-quarter

92,541

19.4

11,311

93.7

11,406

88.6

7,811

109.2

FY2020 third-quarter

77,506

-19.2

5,841

-62.9

6,049

-62.2

3,733

-65.1

(Note) Comprehensive income

FY2021 third-quarter:

12,076 million yen (1,277.3%)

FY2020 third-quarter:

876 million yen (-73.4%)

Net income per share

Diluted net income

per share

Yen

Yen

FY2021 third-quarter

80.07

79.24

FY2020 third-quarter

38.36

37.97

(2)Consolidated financial position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

FY2021 third-quarter

202,466

149,985

68.7

FY2020

200,112

140,179

64.6

(Reference) Equity

FY2021 third-quarter: 139,105 million yen

FY2020: 129,338 million yen

2. Dividends

Dividends per share

End of Q2

Year-end

Annual

Yen

Yen

Yen

FY2020

11.00

11.00

22.00

FY2021

14.00

FY2021 forecast

17.00

31.00

3. Forecast of Consolidated Results for FY2021 (December 1, 2020 - November 30, 2021)

Net sales

Operating income

Ordinary income

Net income attributable

Net income

to OSG Corporation

per share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Annual

122,000

16.9

15,000

78.6

15,200

69.8

10,000

77.3

102.51

4. Others

(1) Changes in significant subsidiaries during the current period

(Changes in specified subsidiaries that caused a change in the scope of consolidation) : None

  1. Adoption of accounting method specific to the preparation of consolidated quarterly financial statements Yes
  2. Changes in accounting principles and accounting estimates and retrospective restatement

(i) Changes in accounting principles due to amendment to accounting standards:

None

(ii)

Changes other than (3)-(i) above:

None

(iii)

Changes in accounting estimates:

None

(iv)

Retrospective restatement:

None

  1. Number of shares issued and outstanding (common stock)
    1. Number of shares issued and outstanding at the end of each period (including treasury stock):

FY2021 third-quarter: 98,196,724 shares

FY2020:98,179,742 shares

(ii) Number of treasury stock at the end of each period:

FY2021 third-quarter:

558,753 shares

FY2020:

729,381 shares

  1. Average number of shares outstanding in each period: FY2021 third-quarter: 97,548,439 shares FY2020 third-quarter: 97,303,736 shares

[Note regarding forecast]

The above forecasts for financial results are based on information available at the time this report was released. These forecasts and other forward-looking statements are not guarantees of future performance. Actual operating results may differ from the above forecasts due to known and unknown risks, uncertainties, and other factors.

Consolidated Summary Balance Sheet

OSG Corporation

Assets

(Million yen : amounts less than one million yen are omitted)

FY2020

FY2021 third-quarter

Change

As of Nov. 30, 2020

As of Aug. 31, 2021

Current assets

Cash and deposits

37,807

40,630

Notes and accounts receivable - trade

19,733

22,002

Securities

0

1

Merchandise and finished goods

29,239

27,958

Work in process

5,464

6,653

Raw materials and supplies

7,321

7,592

Other

3,279

2,756

Allowance for doubtful accounts

(155)

(170)

Total current assets

102,691

107,424

4,732

Non-current assets

Property, plant and equipment

Buildings and structures, net

24,685

24,391

Machinery, equipment and vehicles, net

34,500

32,326

Land

14,995

15,812

Other, net

5,417

5,961

Total property, plant and equipment

79,599

78,491

(1,107)

Intangible assets

Goodwill

4,273

4,819

Other

1,260

1,221

Total intangible assets

5,533

6,041

507

Investments and other assets

Investment securities

6,182

4,778

Other

6,471

6,098

Allowance for doubtful accounts

(366)

(366)

Total investments and other assets

12,287

10,510

(1,777)

Total non-current assets

97,420

95,042

(2,377)

Total

200,112

202,466

2,354

Consolidated Summary Balance Sheet

OSG Corporation

Liabilities and Net Assets

(Million yen : amounts less than one million yen are omitted)

FY2020

FY2021 third-quarter

Change

As of Nov. 30, 2020

As of Aug. 31, 2021

Liabilities

Current liabilities

Notes and accounts payable - trade

4,308

4,910

Short-term loans payable

4,473

2,356

Current portion of convertible bond-type bonds

with share acquisition rights

-

1,670

Current portion of long-term loans payable

8,522

1,498

Income taxes payable

630

2,616

Provision for bonuses

381

1,660

Provision for directors' bonuses

146

201

Other

8,858

7,697

Total current liabilities

27,323

22,611

(4,711)

Non-current liabilities

Bonds payable

5,000

5,000

Convertible bond-type bonds

with share acquisition rights

1,670

-

Long-term loans payable

22,103

20,701

Net defined benefit liability

682

954

Provision for loss on guarantees

38

34

Other

3,115

3,180

Total non-current liabilities

32,609

29,870

(2,739)

Total liabilities

59,932

52,481

(7,450)

Net assets

Shareholders' equity

Capital stock

12,223

12,239

Capital surplus

12,934

12,965

Retained earnings

111,594

117,017

Treasury stock

(1,442)

(1,102)

Total shareholders' equity

135,309

141,120

5,811

Accumulated other comprehensive income

Valuation difference

on available-for-sale securities

1,105

1,038

Deferred gains or losses on hedges

0

(0)

Foreign currency translation adjustment

(7,076)

(3,052)

Total accumulated other comprehensive income

(5,970)

(2,014)

3,956

Share acquisition rights

13

-

(13)

Non-controlling interests

10,828

10,879

50

Total net assets

140,179

149,985

9,805

Total liabilities and net assets

200,112

202,466

2,354

Consolidated Summary Statement of Income

OSG Corporation

(Million yen : amounts less than one millionyen are omitted)

FY2020 third-quarter

FY2021 third-quarter

Change

(2019/12/1 - 2020/8/31)

(2020/12/1 - 2021/8/31)

Net sales

77,506

92,541

15,034

Cost of sales

48,670

56,862

8,192

Gross profit

28,836

35,678

6,841

Selling, general and administrative expenses

22,995

24,366

1,370

Operating income

5,841

11,311

5,470

Non-operating income

Interest income

156

106

Dividend income

69

48

Foreign exchange losses

-

93

Subsidy income

786

289

Other

539

490

Total non-operating income

1,553

1,027

(525)

Non-operating expenses

Interest expenses

161

199

Sales discounts

476

522

Foreign exchange losses

345

-

Other

361

210

Total non-operating expenses

1,344

932

(412)

Ordinary income

6,049

11,406

5,357

Extraordinary income

Gain on sales of non-current assets

206

191

Total extraordinary income

206

191

(15)

Income before income taxes

6,256

11,597

5,341

Income taxes - current

1,798

4,310

2,511

Income taxes - deferred

623

(816)

(1,440)

Total income taxes

2,422

3,493

1,071

Net income

3,833

8,103

4,270

Net income attributable to non-controlling interests

100

292

192

Net income attributable to OSG Corporation

3,733

7,811

4,077

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OSG Corporation published this content on 08 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2021 06:06:04 UTC.