2nd Quarter FY2022 Consolidated Financial Results

August 8, 2022

(Amounts are rounded down to the nearest million yen)

1. Consolidated Results for 2nd quarter FY2022 (January 1, 2022 through June 30, 2022)

(1) Consolidated

financial results

(% of change from previous 2nd quarter)

Net Sales

Operating income

Ordinary income

Profit attributable to owners

of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

2Q FY2022

31,699

-

5,671

-

5,954

-

4,565

-

2Q FY2021

27,888

33.5

3,658

341.5

3,750

222.0

2,685

218.3

(Note) Comprehensive income:

2Q FY2022: 7,276 million yen [-%] / 2Q FY2021: 4,082 million yen [-%]

Quarterly net income per share -Basic

Quarterly net income per share -Diluted

Yen

Yen

2Q FY2022

218.89

-

2Q FY2021

128.80

-

(Note) Since the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc., from the beginning of the 1st quarter of the current consolidated fiscal year, the amounts of the 2nd quarter FY2022 is based on the foregoing accounting standard. Therefore, the rate of change compared to the actual value for the 1st quarter FY2021 before the application of the standard are not stated.

(2) Consolidated financial position

Total assets

Total net assets

Ratio of net assets

Million yen

Million yen

%

2Q FY2022

73,431

58,615

79,8

FY2021

67,065

52,536

78.3

(Reference) Shareholders' equity:

2Q FY2022: 58,615 million yen / FY2021: 52,536 million yen

(Note) Since the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc., from the beginning of the 1st quarter of the current consolidated fiscal year, the amounts of the 2nd quarter FY2022 is based on the foregoing accounting standard. Therefore, the rate of change compared to the actual value for the 1st quarter FY2021 before the application of the standard are not stated.

2. Cash dividends

Cash dividends per share

End of

End of

End of

1st

2nd

3rd

Year-end

Annual

quarter

quarter

quarter

Yen

Yen

Yen

Yen

Yen

FY2021

-

25.00

-

57.00

82.00

FY2022

-

30.00

FY2022

-

57.00

87.00

(forecast)

(Note) Revision of cash dividend forecast for this period: No

3. Forecast of consolidated results for FY2022 (January 1, 2022 through December 31, 2022)

(% of change from FY2021)

Net Sales

Operating income

Ordinary income

Profit attributable

Net income

to owners of parent

per share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

FY2022

63,700

-

9,700

-

9,900

-

6,930

-

331.96

(Note)

  1. Revision of forecast for this period: No
  2. Since the Company has applied the "Accounting Standard for Revenue Recognition", etc., from the beginning of the FY2022, the above forecasts are based on the amounts after the application of the foregoing accounting standard, etc. Therefore, the rate of change compared to the actual value for the FY2021 before the application of the standard are not stated.
    • 1 -

Consolidated financial statements

(1) Consolidated balance sheets

(Amount: Million yen)

FY2021

2nd quarter FY2022

(As of December 31, 2021)

(As of June 30, 2022)

Assets

Current assets

Cash and deposits

25,797

26,182

Notes and accounts receivable - trade

10,505

13,491

Finished goods

5,610

5,857

Work in process

3,757

4,598

Raw materials and supplies

1,865

2,378

Other

1,094

1,331

Allowance for doubtful accounts

(33)

(114)

Total current assets

48,597

53,724

Non-current assets

Property, plant and equipment

Buildings and structures

13,847

14,965

Accumulated depreciation

(9,362)

(10,066)

Buildings and structures, net

4,484

4,898

Machinery, equipment and vehicles

21,128

22,855

Accumulated depreciation

(16,973)

(18,555)

Machinery, equipment and vehicles, net

4,155

4,299

Tools, furniture and fixtures

22,229

22,263

Accumulated depreciation

(20,055)

(19,922)

Tools, furniture and fixtures, net

2,174

2,340

Land

1,170

1,204

Other

737

627

Total property, plant and equipment

12,721

13,371

Intangible assets

494

531

Investments and other assets

Investment securities

4,848

5,200

Deferred tax assets

270

404

Other

159

225

Allowance for doubtful accounts

(26)

(26)

Total investments and other assets

5,252

5,803

Total non-current assets

18,467

19,706

Total assets

67,065

73,431

- 2 -

(Amount: Million yen)

FY2021

2nd quarter FY2022

(As of December 31, 2021)

(As of June 30, 2022)

Liabilities

Current liabilities

Accounts payable - trade

3,439

3,271

Short-term borrowings

1,933

2,052

Accrued expenses

2,812

3,117

Income taxes payable

1,805

1,586

Other

2,459

2,580

Total current liabilities

12,450

12,608

Non-current liabilities

Long-term borrowings

94

-

Deferred tax liabilities

540

700

Provision for share benefits

372

311

Retirement benefit liability

821

899

Other

249

295

Total non-current liabilities

2,078

2,206

Total liabilities

14,528

14,815

Net assets

Shareholders' equity

Share capital

6,923

6,923

Capital surplus

7,537

7,537

Retained earnings

41,055

44,315

Treasury shares

(7,718)

(7,611)

Total shareholders' equity

47,797

51,165

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

1,124

908

Foreign currency translation adjustment

3,342

6,302

Deferred gains or losses on hedges

-

(2)

Remeasurements of defined benefit plans

272

241

Total accumulated other comprehensive income

4,739

7,450

Total net assets

52,536

58,615

Total liabilities and net assets

67,065

73,431

- 3 -

(2) Consolidated Statements of income

(Amount: Million yen)

2nd quarter FY2021

2nd quarter FY2022

(January 1, 2021 through June 30, 2021)

(January 1, 2022 through June 30, 2022)

Net sales

27,888

31,699

Cost of sales

16,676

18,415

Gross profit

11,211

13,283

Selling, general and administrative expenses

7,553

7,612

Operating profit

3,658

5,671

Non-operating income

Interest income

12

17

Dividend income

24

46

Foreign exchange gains

-

137

Subsidy income

34

57

Other

94

76

Total non-operating income

165

335

Non-operating expenses

Interest expenses

8

9

Foreign exchange losses

32

-

Loss on retirement of non-current assets

12

27

Other

19

15

Total non-operating expenses

73

52

Ordinary profit

3,750

5,954

Profit before income taxes

3,750

5,954

Income taxes

1,064

1,388

Profit

2,685

4,565

Profit attributable to owners of parent

2,685

4,565

- 4 -

Consolidated Statements of Comprehensive Income

(Amount: Million yen)

2nd quarter FY2021

2nd quarter FY2022

(January 1, 2021 through June 30, 2021)

(January 1, 2022 through June 30, 2022)

Profit

2,685

4,565

Other comprehensive income

Valuation difference on available-for-sale securities

165

(215)

Deferred gains or losses on hedges

-

(2)

Foreign currency translation adjustment

1,251

2,960

Remeasurements of defined benefit plans, net of tax

(19)

(31)

Total other comprehensive income

1,397

2,711

Comprehensive income

4,082

7,276

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

4,082

7,276

- 5 -

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Tamron Co. Ltd. published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2022 06:23:03 UTC.