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.

August 4, 2022

Summary of Financial Statements for the Three Months Ended June 30, 2022

(Japanese GAAP) (Consolidated)

Name of listed company:

SINFONIA TECHNOLOGY CO., LTD.

Exchange for listed company: Tokyo Stock Exchange

Securities Code:

6507

URL:

https://www.sinfo-t.jp/eng/index_a.htm

Representative

Shinichi Hirano, Representative Director and President

(Rounded down to the nearest million yen)

1. Consolidated financial results for the three months ended June 30, 2022 (April 1, 2022 to June 30, 2022)

(1) Consolidated operating results (cumulative)

(Percentage (%) indicates the rate of year-over-year increase or decrease)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

June 30, 2022

20,136

18.6

923

-

1,448

-

1,011

-

June 30, 2021

16,981

(2.5)

(198)

-

(176)

-

(94)

-

Note: Comprehensive income

Three months ended June 30, 2022

¥730 million

-%

Three months ended June 30, 2021

¥(156) million

-%

Profit per share

Diluted profit per share

Three months ended

Yen

Yen

June 30, 2022

35.90

-

June 30, 2021

(3.21)

-

(2) Consolidated financial position

Total assets

Net assets

Equity capital ratio

As of

Millions of yen

Millions of yen

%

June 30, 2022

115,290

53,402

46.3

March 31, 2022

116,801

54,090

46.3

(Reference) Equity capital

As of June 30, 2022

¥53,402 million

As of March 31, 2022

¥54,090 million

2. Cash dividends

Annual dividends per share

End of

End of

End of

End of

Total

first quarter

second quarter

third quarter

period

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 2022

-

0.00

-

50.00

50.00

Fiscal year ending March 2023

-

Fiscal year ending March 2023 (Forecast)

0.00

-

50.00

50.00

Note: Revisions to the most recently announced dividend forecast: No

3. Consolidated operating results forecast for fiscal year ending March 2023(April 1, 2022 to March 31, 2023)

(Percentage (%) indicates the rate of year-over-year increase or decrease)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Profit per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

100,000

5.7

8,000

6.5

1.3

5,600

0.1

195.21

8,000

Note: Revisions to the most recently announced consolidated operating results forecast: No

- 1 -

*Notes

(1)

Transfer of key subsidiaries during the three months ended June 30, 2022

None

(transfer of specific subsidiaries that involve any changes in the scope of consolidation):

(2)

Application of special accounting methods for preparing quarterly consolidated financial statements:

No

(3)

Changes in accounting policies, changes in accounting estimates, and/or restatements

(i)

Changes in accounting policies associated with any amendments in accounting standards, etc.

No

(ii)

Other changes in accounting policies:

No

(iii) Changes in accounting estimates:

No

(iv) Restatements:

No

(4) Number of issued shares (common shares)

a Number of issued shares at the end of the period (including treasury shares)

As of June 30, 2022

29,789,122 shares

As of March 31, 2022

29,789,122 shares

  • Number of treasury shares at the end of the period

As of June 30, 2022

1,601,069 shares

As of March 31, 2022

1,600,948 shares

c Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2022

28,188,135 shares

Three months ended June 30, 2021

29,486,471 shares

Note: Number of treasury shares at the end of the period includes Sinfonia Technology's shares held by the Board Benefit Trust (BBT) (175,200 shares in three months ended June 2022 and 175,200 shares in fiscal year ended March 2022). Sinfonia Technology's shares held by the Board Benefit Trust (BBT) are included in the treasury shares deducted in the calculation of the average number of shares during the period (175,200 shares in three months ended June 2022 and 177,300 shares in three months ended June 2021).

*Summary of Financial Statements is not subject to the audit of a certified public accountant or an auditing firm.

*Explanation of proper use of financial results forecast and other special notes

The financial results forecast is based on information available as of the date of the announcement of this document. The actual results may differ from this forecast due to different future factors.

- 2 -

Quarterly consolidated financial statements

Quarterly consolidated balance sheets

(Unit: Millions of yen)

As of March 31, 2022

As of June 30, 2022

Assets

Current assets

Cash and deposits

8,734

8,321

Notes and accounts receivable - trade, and contract assets

34,844

27,731

Merchandise and finished goods

2,053

2,642

Work in process

10,336

13,763

Raw materials and supplies

11,187

12,839

Other

689

1,053

Allowance for doubtful accounts

(43)

(46)

Total current assets

67,803

66,305

Non-current assets

Property, plant and equipment

Buildings and structures, net

10,973

10,846

Land

14,573

14,604

Other, net

4,810

5,704

Total property, plant and equipment

30,356

31,155

Intangible assets

2,015

1,855

Investments and other assets

Investment securities

11,015

10,303

Other

5,770

5,830

Allowance for doubtful accounts

(159)

(159)

Total investments and other assets

16,626

15,973

Total non-current assets

48,998

48,984

Total assets

116,801

115,290

- 3 -

(Unit: Millions of yen)

As of March 31, 2022

As of June 30, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade

22,894

21,555

Short-term borrowings

7,170

8,470

Current portion of long-term borrowings

3,335

3,161

Income taxes payable

1,794

82

Provision for product warranties

411

425

Provision for loss on orders received

545

692

Other

9,110

10,931

Total current liabilities

45,261

45,318

Non-current liabilities

Long-term borrowings

11,278

10,207

Provision for retirement benefits for directors

137

114

(and other officers)

Provision for share awards for directors

59

70

(and other officers)

Provision for environmental measures

3

4

Retirement benefit liability

2,779

2,835

Other

3,190

3,336

Total non-current liabilities

17,449

16,569

Total liabilities

62,710

61,888

Net assets

Shareholders' equity

Share capital

10,156

10,156

Capital surplus

452

452

Retained earnings

33,562

33,156

Treasury shares

(1,963)

(1,963)

Total shareholders' equity

42,209

41,802

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

5,214

4,711

Revaluation reserve for land

3,913

3,913

Foreign currency translation adjustment

376

653

Remeasurements of defined benefit plans

2,377

2,320

Total accumulated other comprehensive income

11,881

11,599

Total net assets

54,090

53,402

Total liabilities and net assets

116,801

115,290

- 4 -

Quarterly consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Quarterly consolidated statements of income (cumulative)

(Unit: Millions of yen)

Three months ended

Three months ended

June 30, 2021

June 30, 2022

Net sales

16,981

20,136

Cost of sales

13,907

15,532

Gross profit

3,073

4,603

Selling, general and administrative expenses

3,272

3,680

Operating profit (loss)

(198)

923

Non-operating income

Interest and dividend income

109

173

Foreign exchange gains

-

376

Other

57

41

Total non-operating income

166

591

Non-operating expenses

Interest expenses

35

33

Other

109

32

Total non-operating expenses

144

66

Ordinary profit (loss)

(176)

1,448

Profit (loss) before income taxes

(176)

1,448

Income taxes

(82)

436

Profit (loss)

(94)

1,011

Profit (loss) attributable to owners of parent

(94)

1,011

- 5 -

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Sinfonia Technology Co. Ltd. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 07:23:03 UTC.