Consolidated Financial Results

for the Fiscal Year Ended January 31, 2022

[Japanese GAAP]

March 15, 2022

Company name: Tri Chemical Laboratories Inc.

Stock exchange listing: Tokyo Stock Exchange

Code number: 4369

URL: http://www.trichemical.com

Representative: Kiyoshi Tazuke, President

Contact: Yoshihide Suzuki, Director

Phone: +81-554-63-6600

Scheduled date of Annual General Meeting of Shareholders: April 27, 2022

Scheduled date of filing annual securities report: April 28, 2022

Scheduled date of commencing dividend payments: April 28, 2022

Availability of supplementary briefing material on annual financial results: Not available

Scheduled date of annual financial results briefing session: Scheduled (for institutional investors and analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended January 31, 2022 (February 1, 2021 to January 31,

2022)

(1) Consolidated Operating Results (cumulative)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Fiscal year ended

Million yen

% Million yen

%

Million yen

%

Million yen

%

January 31, 2022

11,574

18.1

2,976

10.6

5,294

22.5

4,095

21.3

January 31, 2021

9,801

18.6

2,691

15.7

4,323

15.5

3,377

14.9

(Note) Comprehensive income: Fiscal year ended January 31, 2022: ¥4,310 million (24.1%)

Fiscal year ended January 31, 2021: ¥3,473 million (19.4%)

Basic earnings

Diluted earnings

Rate of return

Ordinary profit

Operating profit

per share

per share

on equity

to total assets

to net sales

Fiscal year ended

Yen

Yen

%

%

%

January 31, 2022

126.33

-

24.1

22.0

25.7

January 31, 2021

108.08

-

30.4

24.7

27.5

(Reference) Equity in earnings of affiliated companies: Fiscal year ended January 31, 2022: ¥1,936 million Fiscal year ended January 31, 2021: ¥1,540 million

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the figures for basic earnings per share have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021. Diluted earnings per share for the fiscal year ended January 31, 2022, are not presented as there were no dilutive shares.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen

%

Yen

As of January 31, 2022

28,288

21,320

75.4

656.07

As of January 31, 2021

19,867

12,601

63.4

403.28

(Reference) Equity: As of January 31, 2022: ¥21,320 million As of January 31, 2021: ¥12,601 million

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the figures for net assets per share have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021.

(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at end

operating activities

investing activities

financing activities

of period

Fiscal year ended

Million yen

Million yen

Million yen

Million yen

January 31,2022

3,638

(932)

3,594

8,034

January 31,2021

2,090

(2,963)

948

1,698

2. Dividends

Annual dividends

Total

Payout

Dividends

1st

2nd

3rd

Year-end

Total

dividends

ratio

to net assets

quarter-endquarter-endquarter-end

(consolidated)

(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

January 31, 2021

-

0.00

-

68.00

68.00

531

15.7

4.8

January 31, 2022

-

0.00

-

20.00

20.00

649

15.8

3.8

Fiscal year ending

-

0.00

-

22.00

22.00

15.9

January 31, 2023

(Forecast)

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. For the fiscal year ended January 31, 2021, the figures for dividends are presented in amounts of the actual dividends paid, and the figures for dividends for the fiscal year ended January 31, 2022 and the fiscal year ending January 31, 2023 (forecast) are presented in amounts after the said stock split.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2023 (February 1, 2022 to January 31, 2023)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable

Basic earnings

to owners of parent

per share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

First half

6,590

22.8

1,690

15.9

2,590

5.8

2,010

6.8

61.85

Full year

13,600

17.5

3,400

14.2

5,730

8.2

4,500

9.9

138.47

* Notes:

  1. Changes in significant subsidiaries during the period under review: No (Changes in specific subsidiaries due to changes in the scope of consolidation)

New: - companies (company name)

, excluded: - companies (company name)

  1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: No
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  3. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

January 31, 2022: 32,498,640 shares

January 31, 2021: 31,248,640 shares

  1. Total number of treasury shares at the end of the period: January 31, 2022: 1,580 shares
    January 31, 2021: 1,580 shares
  2. Average number of shares during the period:

Fiscal year ended January 31, 2022: 32,414,868 shares

Fiscal year ended January 31, 2021: 31,247,189 shares

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the total number of issued shares at the end of the period, the total number of treasury shares at the end of the period, and the average number of shares during the period have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021.

(Reference) Overview of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended January 31, 2022 (February 1, 2021 to January 31, 2022)

(1) Non-consolidated Operating Results (cumulative)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit

Fiscal year ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

January 31, 2022

11,542

16.7

3,272

16.5

4,369

35.6

3,186

36.7

January 31, 2021

9,887

19.3

2,809

20.5

3,223

32.4

2,331

36.2

Basic earnings

Diluted earnings

per share

per share

Fiscal year ended

Yen

Yen

January 31, 2022

98.31

-

January 31, 2021

74.61

-

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the figures for basic earnings per share have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021. Diluted earnings per share for the fiscal year ended January 31, 2022, are not presented as there were no dilutive shares.

(2) Non-consolidated Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen

%

Yen

As of January 31, 2022

23,692

17,229

72.7

530.20

As of January 31, 2021

16,396

9,632

58.7

308.28

(Reference) Equity: As of January 31, 2022: ¥17,229 million As of January 31, 2021: ¥9,632 million

(Note) The Company executed a four-for-one stock split for each common share on February 1, 2021. Accordingly, the figures for net assets per share have been calculated assuming that the stock split was executed at the beginning of the fiscal year ended January 31, 2021.

  • These financial results are outside the scope of audit by certified public accountants or an audit firm.
  • Explanation of the proper use of financial results forecast and other notes

The earnings forecasts and other forward-looking statements herein are based on information currently available to the Company and certain assumptions deemed reasonable, and do not represent a commitment by the Company that they will be achieved. Actual results may differ significantly from these forecasts due to a wide range of factors.

The Company plans to hold a financial results briefing for institutional investors and analysts on March 17, 2022. Financial results materials to be used at the briefing will be available on the Company's website immediately after the session.

Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Thousand yen)

As of January 31, 2021

As of January 31, 2022

Assets

Current assets

Cash and deposits

1,698,612

8,034,494

Notes and accounts receivable - trade

2,783,207

3,058,124

Electronically recorded monetary claims - operating

1,119,212

838,248

Merchandise and finished goods

13,422

79,197

Work in process

713,613

749,403

Raw materials and supplies

881,878

1,321,772

Other

374,759

305,191

Total current assets

7,584,706

14,386,432

Non-current assets

Property, plant and equipment

Buildings and structures

5,020,683

5,319,866

Accumulated depreciation

(1,233,191)

(1,500,630)

Buildings and structures, net

3,787,491

3,819,235

Machinery, equipment and vehicles

2,669,674

3,119,985

Accumulated depreciation

(1,429,693)

(1,708,130)

Machinery, equipment and vehicles, net

1,239,980

1,411,854

Tools, furniture and fixtures

2,195,213

2,616,297

Accumulated depreciation

(1,452,432)

(1,630,985)

Tools, furniture and fixtures, net

742,780

985,312

Land

714,933

714,933

Leased assets

548,961

548,961

Accumulated depreciation

(132,268)

(202,019)

Leased assets, net

416,692

346,941

Construction in progress

759,476

515,516

Other

248,499

265,008

Accumulated depreciation

(30,348)

(44,729)

Other, net

218,151

220,279

Total property, plant and equipment

7,879,507

8,014,073

Intangible assets

208,508

181,431

Investments and other assets

Investment securities

4,147,328

5,535,422

Deferred tax assets

22,189

82,908

Other

25,518

88,668

Total investments and other assets

4,195,036

5,706,999

Total non-current assets

12,283,053

13,902,504

Total assets

19,867,759

28,288,937

1

(Thousand yen)

As of January 31, 2021

As of January 31, 2022

Liabilities

Current liabilities

Accounts payable - trade

525,821

613,784

Short-term loans payable

580,000

-

Current portion of long-term loans payable

615,547

961,417

Lease obligations

88,307

90,428

Income taxes payable

593,172

800,361

Provision for bonuses

76,084

113,242

Other

811,527

886,210

Total current liabilities

3,290,460

3,465,445

Non-current liabilities

Long-term loans payable

3,160,646

2,699,229

Lease obligations

601,566

532,436

Deferred tax liabilities

111,368

152,763

Net defined benefit liability

102,327

118,662

Total non-current liabilities

3,975,908

3,503,092

Total liabilities

7,266,369

6,968,537

Net assets

Shareholders' equity

Capital stock

808,912

3,278,912

Capital surplus

709,912

3,179,912

Retained earnings

11,062,738

14,626,625

Treasury shares

(1,720)

(1,720)

Total shareholders' equity

12,579,843

21,083,730

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

(168)

1,473

Foreign currency translation adjustments

38,500

254,279

Remeasurements of defined benefit plans

(16,785)

(19,083)

Total accumulated other comprehensive income

21,545

236,669

Total net assets

12,601,389

21,320,399

Total liabilities and net assets

19,867,759

28,288,937

2

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Tri Chemical Laboratories Inc. published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 00:50:05 UTC.