Non-consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

Company name: PALTAC CORPORATION

May 12, 2021

(URL: http://www.paltac.co.jp/)

Listing:

Tokyo Stock Exchange (Code number: 8283)

Representative:

Representative Director, President

Seiichi Kasutani

Contact:

Director, Managing Executive Officer, General Manager of Management Planning Division

Masaharu Shimada

Tel: +81-6-4793-1090 (from overseas)

E-mail: ir@paltac.co.jp

Scheduled date to hold annual general meeting of shareholders:

June 24, 2021

Scheduled date to commence dividend payments:

June 3, 2021

Scheduled date to submit the Securities Report:

June 24, 2021

Preparation of supplementary material on financial results:

Yes

Holding of quarterly financial results presentation meeting:

Yes (online briefing for institutional investors,

analysts and media.)

(Figures are rounded off to the nearest million yen)

1. Financial Results for the Fiscal Year Ended March 31, 2021

(From April 1, 2020 to March 31, 2021)

(1) Operating Results

(% increase (decrease) figures indicate year-on-year change)

Net sales

Operating profit

Ordinary profit

Profit

Fiscal year ended

(¥ million)

%

(¥ million)

%

(¥ million)

%

(¥ million)

%

March 31, 2021

1,033,275

(1.3)

25,487

3.2

28,053

2.7

19,317

(24.0)

March 31, 2020

1,046,412

3.1

24,708

(2.7)

27,316

(4.2)

25,412

28.6

Earnings per share

Diluted earnings

Earnings on

Ordinary profit

Operating profit

per share

equity

on total assets

on net sales

Fiscal year ended

(¥)

(¥)

%

%

%

March 31, 2021

303.98

-

8.5

6.6

2.5

March 31, 2020

399.90

-

12.2

6.7

2.4

Reference: Equity in

earnings of affiliates:

Fiscal year ended March 31, 2021

¥- million

Fiscal year ended March 31, 2020

¥- million

(2) Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

As of

(¥ million)

(¥ million)

%

(¥)

March 31, 2021

435,501

235,428

54.1

3,704.78

March 31, 2020

418,756

218,297

52.1

3,435.20

Reference: Equity

As of March 31, 2021: ¥235,428 million

As of March 31, 2020: ¥218,297 million

(3) Cash Flow Status

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents

operating activities

investing activities

financing activities

at the end of period

Fiscal year ended

(¥ million)

(¥ million)

(¥ million)

(¥ million)

March 31, 2021

28,745

(5,471)

(8,225)

37,623

March 31, 2020

21,005

(3,788)

(13,001)

22,575

(% indicates year-on-yearchange)

2. Dividends

Annual dividends per share (¥)

Total dividends

Dividends paid

Year-

Full year

paid

Payout ratio

on

1Q

2Q

3Q

(Full year)

(%)

net assets

end

(Total)

(Cut-off date)

(¥ million)

(%)

Fiscal year ended

-

35.00

-

35.00

70.00

4,448

17.5

2.1

March 31, 2020

Fiscal year ended

-

36.00

-

36.00

72.00

4,575

23.7

2.0

March 31, 2021

Fiscal year ending

March 31, 2022

-

39.00

-

39.00

78.00

24.8

(Forecasts)

3. Forecasts of Financial Results for the Fiscal Year Ending March 31, 2022 (From April 1, 2021 to March 31, 2022)

Net sales

Operating profit

Ordinary profit

Profit

Earnings

per share

(¥ million)

%

(¥ million)

%

(¥ million)

%

(¥ million)

%

(¥)

Fiscal year

1,060,000

-

26,500

-

29,000

-

20,000

-

314.73

The Company has decided to adopt Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022. The above mentioned financial forecasts are represented after adopting these standards and do not include year-on-year percentage changes comparing to the corresponding period of the previous fiscal year.

(1) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements

  1. Changes in accounting policies due to revisions to accounting standards, and other regulations: No

2)

Changes in accounting policies due to other reasons:

No

3)

Changes in accounting estimates:

No

4)

Restatements:

No

  1. Number of Issued Shares (common stock)
    1. Number of issued shares at the end of the period (including treasury stock)

As of March 31, 2021

63,553,485 shares

As of March 31, 2020

63,553,485 shares

  1. Number of treasury shares at the end of the period

As of March 31, 2021

6,387 shares

As of March 31, 2020

6,287 shares

  1. Average number of shares during the period

For the fiscal year ended March 31, 2021

63,547,167 shares

For the fiscal year ended March 31, 2020

63,547,211 shares

  • This financial results report is not subject to the audit procedures by certified public accountants or audit firms.
  • Information regarding proper use of the forecasts of financial results, and other special instructions (Cautionary notes to the forward-looking statements)
    The forward-looking statements contained in this report, including forecasts of financial results, are based on information currently available and assumptions that management believes to be reasonable. Actual financial and other results may differ substantially due to various factors. Please refer to the section of "1. Summary of Operating Results etc. (1) Analysis of Operating Results (Outlook for the fiscal year ending March 31, 2022)" on page 3 of the attached material to this financial results report for the suppositions that form the assumptions for the forecasts.
  • How to access the presentation (Presentation Material for financial results)

The Company will hold a financial results online briefing for institutional investors, financial analysts and media on May 21, 2021. The presentation (Presentation Material for financial results) is posted on the Company's website

(http://www.paltac.co.jp/en/index.html).

* Information regarding this report (including the attached material)

None of the information in this report constitutes solicitation to purchase or sell the stock of PALTAC CORPORATION. It was not prepared with the intention of providing investment advice about the stock of PALTAC CORPORATION. Furthermore, this report is an English translation of the original, which was prepared in Japanese. In the event of any discrepancies between the Japanese original and the English translation, the Japanese original shall prevail.

PALTAC CORPORATION (8283) Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2020

Attached Material

Contents

1. Summary of Operating Results etc...............................................................................................................

2

(1)

Analysis of Operating Results..............................................................................................................

2

(2)

Analysis of Financial Position..............................................................................................................

4

  1. Basic Policy on Profit Distribution and Dividends for the Fiscal Year Ended March 31, 2021 and the

Fiscal Year Ending March 31, 2022.....................................................................................................

5

(4)

Business Risks......................................................................................................................................

6

2.

Status of Group...........................................................................................................................................

11

3.

Management Policy....................................................................................................................................

12

(1)

The Company's Basic Management Policy .......................................................................................

12

(2)

Business environment and issues to Be Addressed with priority .......................................................

12

(3)

Medium-andLong-Term Management Strategy and Targeted Management Benchmarks ...............

12

4. Basic Approach to Selection of Accounting Standards..............................................................................

14

5. Non-consolidated Financial Statements and Notes to Non-consolidated Financial Statements.................

15

(1)

Balance Sheets....................................................................................................................................

15

(2)

Statements of Income .........................................................................................................................

18

Supplementary Schedules of Cost of Sales ........................................................................................

20

(3)

Statements of Changes in Equity........................................................................................................

21

(4)

Statements of Cash Flows ..................................................................................................................

25

(5)

Notes to Non-consolidated Financial Statements ..............................................................................

26

(Notes on premise of going concern) .................................................................................................

26

(Significant accounting policies)........................................................................................................

26

(Significant Accounting Estimates)....................................................................................................

29

(Changes in Presentation)...................................................................................................................

29

(Accounting Standards Issued but not yet Effective) .........................................................................

30

(Statements of income).......................................................................................................................

32

(Statements of changes in equity).......................................................................................................

34

(Statements of cash flows) .................................................................................................................

36

(Lease transaction) .............................................................................................................................

36

(Financial instruments).......................................................................................................................

37

(Securities) .........................................................................................................................................

41

(Derivative transactions) ....................................................................................................................

44

(Retirement benefits)..........................................................................................................................

45

(Income taxes) ....................................................................................................................................

48

(Equity methods) ................................................................................................................................

49

(Asset retirement obligations) ............................................................................................................

49

(Estate leases).....................................................................................................................................

49

(Segment information) .......................................................................................................................

50

(Related-party transactions)...............................................................................................................

52

(Per share information).......................................................................................................................

52

(Significant subsequent event) ...........................................................................................................

52

6.

Other...........................................................................................................................................................

53

(1)

Directors Changes ..............................................................................................................................

53

(2)

Sales Status.........................................................................................................................................

53

1

PALTAC CORPORATION (8283) Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021

1. Summary of Operating Results etc.

  1. Analysis of Operating Results

(Operating results for the fiscal year ended March 31, 2021)

In the fiscal year ended March 31, 2021, due to the global spread of the novel coronavirus disease (COVID-19), the Japanese economy has deteriorated sharply as business activities have diminished due to requests for businesses to close temporarily and for people to refrain from going outside associated with the Japanese Government's declaration of a state of emergency. Although business activities gradually resumed after the lifting of the state of emergency, another state of emergency was declared in January 2021 due to a resurgence of COVID-19, and the outlook for a subsequent economic recovery as socioeconomic activities are restored remains unclear.

In the market of cosmetics and daily necessities and the market of over-the-counter (OTC) pharmaceuticals, while demand for sanitary related products such as face masks, hand soap and disinfectant has increased with the improvement of hygiene awareness, demand for cosmetics such as makeup products and hairdressing has declined as people refrain from going out for leisure, etc. In addition, demand for inbound products, such as facial masks that are very popular among foreign tourists, continues to be significantly low and it is still not known when travel will be reopened for foreign tourists.

Under these circumstances, PALTAC CORPORATION (the "Company") believes that protecting the safety of its employees is the key to business continuity, and is therefore striving to maintain the working environment and to thoroughly manage hygiene, and has continued to supply daily necessities stably, which is the Company's social mission. Moreover, amid the further increasing social needs for improvement of productivity of the entire logistics due to the labor shortage caused by the decline in the working population over the medium- to long- term and the spread of COVID-19, the Company has actively promoted initiatives, aiming to optimize and streamline the entire supply chain according to the medium-term management plan, which is in its final year.

In the fiscal year ended March 31, 2021, the Company worked to accumulate expertise for efficient operation of RDCs that utilize the new logistics model, and was able to achieve stable operation and a doubling of the productivity of personnel in the second half of the fiscal year. In addition, we worked to establish sales systems focused on medium- to long-term growth, such as by steadily building up a series of examples of success centered on the specialized departments established in the previous fiscal year, to increase the "cost-efficiency" through mutual cooperation between companies, and to "create selling systems" aimed at improving the success rate of business negotiation contents by focusing on retail stores where products are handed to consumers, and improving the quality of business negotiations by utilizing and feeding back the information collected at retail stores.

In conjunction with the further expansion of the EC business by the retail industry, manufacturers, etc. during the COVID-19 pandemic, the Company also launched the EC Business Division in January 2021 and is working to strengthen solutions specific to the EC business.

As a result of the above, an overview of results in the fiscal year ended March 31, 2021, is provided below.

Net sales

¥1,033,275 million (down 1.3% year on year)

Operating profit

¥25,487 million (up 3.2% year on year)

Ordinary profit

¥28,053 million (up 2.7% year on year)

Profit

¥19,317 million (down 24.0% year on year)

As the Company has one reportable segment, disclosure by segment information has been omitted.

(Note) RDCs (Regional Distribution Centers) are large-scale logistics centers.

2

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Paltac Corporation published this content on 20 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2021 06:03:06 UTC.