Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results

for the Three Months Ended June 30, 2022 [Under Japanese GAAP]

August 5, 2022

Company name: STELLA CHEMIFA CORPORATION

Listing: Tokyo Stock Exchange

Securities code: 4109

URL: https://www.stella-chemifa.co.jp

Representative: Aki Hashimoto, Representative Director, President and Chief Executive Officer

Inquiries: Yasuhiko Nakashima, Director, Executive Officer and General Manager, Accounting Department

Telephone: +81- 6-4707-1512

Scheduled date to file quarterly securities report: August 10, 2022

Scheduled date to commence dividend payments: -

Preparation of supplementary material on quarterly financial results: Yes

Holding of quarterly financial results briefing: No

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30, 2022)

(1) Consolidated Operating Results (cumulative)

(% indicates changes from the previous corresponding period.)

Sales revenue

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

9,764

9.8

1,291

(0.0)

1,783

39.1

1,295

61.4

June 30, 2021

8,896

8.2

1,291

46.1

1,282

52.3

802

67.4

(Note) Comprehensive

income: For three months ended June 30, 2022: ¥1,738 million [73.0%]

For three months ended June 30, 2021: ¥1,005 million [330.2%]

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

June 30, 2022

103.55

-

June 30, 2021

62.66

-

(2) Consolidated Financial Position

Total assets

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of June 30, 2022

56,495

44,011

76.9

3,471.87

As of March 31, 2022

56,598

42,728

74.5

3,369.93

(Reference) Equity: As of

June 30, 2022: ¥43,446

million

2. Cash Dividends

As of March 31, 2022: ¥42,170 million

Annual dividends

First

Second

Third

Fiscal

Total

quarter-end

quarter-end

quarter-end

year-end

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

24.00

36.00

60.00

March 31, 2022

Fiscal year ending

March 31, 2023

Fiscal year ending

March 31, 2023

30.00

30.00

60.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(% indicates changes from the previous corresponding period.)

Profit attributable

Basic earnings

Sales revenue

Operating profit

Ordinary profit

to owners of

per share

parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

37,500

0.5

4,600

0.4

5,800

1.6

4,200

(21.7)

335.63

(Note) Revision to the financial results forecast announced most recently: None

* Notes:

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scope of consolidation): None
    Newly included: - (Company name: -)
    Excluded: - (Company name: -)
  2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
  3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  5. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2022:

13,213,248 shares

As of March 31, 2022:

13,213,248 shares

2) Number of treasury shares at the end of the period

As of June 30, 2022:

699,291 shares

As of March 31, 2022:

699,457 shares

3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year):

Three months ended June 30, 2022:

12,513,797 shares

Three months ended June 30, 2021:

12,813,519 shares

  • These quarterly consolidated financial results are exempt from quarterly review conducted by certified public accountants or an audit corporation.
  • Explanation of the proper use of financial results forecast and other notes
    The forward-looking statements in this document, including financial results forecasts, are based on the information in current possession of the Company and the assumptions it believes are reasonable. They are not intended as the Company's promise to achieve them. Note also that actual financial results may differ significantly from them. For the assumptions that form the basis of financial results forecasts and notes on their use, see "1. Qualitative Information on Quarterly Financial Results for the Period under Review, (3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information" on page 2 of the Attachments of quarterly consolidated financial results.

Table of Contents - Attachments

1. Qualitative Information on Quarterly Financial Results for the Period under Review ...........................

2

(1)

Explanation of Operating Results ....................................................................................................

2

(2)

Explanation of Financial Position ....................................................................................................

2

(3)

Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information

..............................................................................................................................................................

2

2. Quarterly Consolidated Financial Statements and Principal Notes ......................................................

4

(1)

Quarterly Consolidated Balance Sheet .............................................................................................

4

(2)

Quarterly Consolidated Statements of Income and Comprehensive Income ...................................

6

Quarterly Consolidated Statement of Income

Three Months Ended June 30 .......................................................................................................

6

Quarterly Consolidated Statement of Comprehensive Income

Three Months Ended June 30 .......................................................................................................

7

(3)

Notes to Quarterly Consolidated Financial Statements ....................................................................

8

(Notes on going concern assumption) .........................................................................................

8

(Accounting methods adopted particularly for the preparation of quarterly consolidated

financial statements)....................................................................................................................

8

(Segment information, etc.) .........................................................................................................

9

(Significant subsequent events) .................................................................................................

11

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review

  1. Explanation of Operating Results
    The Japanese economy showed signs of normalized economic activities for the three months ended June 30, 2022, with eased COVID-19 restrictions. The outlook, however, still remains uncertain due to the escalation of the Russia-Ukraine conflict and the impact of rapid weakening of the yen.
    In this environment, the Group continued to supply a diverse range of fluoride products in line with the needs of customers mainly in the information and communication industry in Japan and overseas, as well as developing the chemical product distribution business based on the unique know-how acquired in the transportation of special cargo.
    In regard to the performance for the three months ended June 30, 2022, both domestic and overseas sales in the Semiconductors increased, backed by the booming global demand for semiconductors. As a result, sales revenue increased to 9,764 millions of yen (up 9.8% year on year).
    In terms of profits, operating profit amounted to 1,291 millions of yen (down 0.0% year on year) despite the increased shipment volume in the Semiconductors, as the impact of supply and demand in the Chinese market led to a year-on-year increase in the price of anhydrous hydrofluoric acid, a key raw material. Ordinary profit amounted to 1,783 millions of yen (up 39.1% year on year) and profit attributable to owners of parent 1,295 millions of yen (up 61.4% year on year), as a result of recording share of profit of entities accounted for using equity method. This was due to a significant rise in the sales price following a surge in the market price in China for electrolytes for lithium-ion secondary batteries sold by the Quzhou BDX New Chemical Materials Co., Ltd., an equity method affiliate, resulting in the affiliate's robust operating results.
  2. Explanation of Financial Position (Assets)
    Current assets decreased by 1,130 millions of yen (3.7%) from the end of the previous fiscal year to 29,450 millions of yen. The main reasons for this decline included decreases of 537 millions of yen in raw materials and supplies and 381 millions of yen in merchandise and finished goods.
    Non-current assets increased by 1,028 millions of yen (4.0%) from the end of the previous fiscal year to 27,045 millions of yen. The main reasons for this growth included increases of 605 millions of yen in property, plant and equipment and 451 millions of yen in investments and other assets.
    Consequently, total assets decreased by 102 millions of yen from the end of the previous fiscal year to 56,495 millions of yen.
    (Liabilities)
    Current liabilities decreased by 1,148 millions of yen (11.7%) from the end of the previous fiscal year to 8,655 millions of yen. The main reasons for this decline included decreases of 921 millions of yen in income taxes payable and 208 millions of yen in accounts payable - other.
    Non-current liabilities decreased by 236 millions of yen (5.8%) from the end of the previous fiscal year to 3,829 millions of yen. The main reason for this decline included a decrease of 296 millions of yen in long-term borrowings.
    Consequently, total liabilities decreased by 1,385 millions of yen from the end of the previous fiscal year to 12,484 millions of yen.
    (Net assets)
    Net assets at the end of the first quarter of the fiscal year under review amounted to 44,011 millions of yen, an increase of 1,282 millions of yen from the end of the previous fiscal year. The main reason for this growth included an increase of 840 millions of yen in retained earnings.
    Consequently, the equity-to-asset ratio was 76.9% (74.5% at the end of the previous fiscal year).
  3. Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information

2

Consolidated financial results forecasts for the fiscal year ending March 31, 2023 have not been revised from the forecasts announced on May 10, 2022.

3

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Stella Chemifa Corporation published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 03:55:09 UTC.