Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2020
(Based on Japanese GAAP)
January 29, 2021
Company name:Shibaura Machine Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6104
URL https://www.shibaura-machine.co.jp
President and Chief Operating Officer
Shigetomo Sakamoto

Inquiries:

Public Relations & Investor Relations
Department

Minoru Aoki

TEL

Senior Manager
Scheduled date to file Quarterly Securities Report:

February 4, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

No03(3509)0444(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2020 (from April 1, 2020 to December 31, 2020)(1) Consolidated operating results (cumulative)

Nine months ended December 31, 2020
Nine months ended December 31, 2019

Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
64,493 (26.7)(121)–(384)–(888)–
87,978
2.6
2,619
17.4
3,688
(3.8)
2,511
(8.5)
Earnings per share

Diluted earnings per share

Yen(36.81)104.07

Nine months ended December 31, 2020
Nine months ended December 31, 2019

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2020
As of March 31, 2020

Net assets

Millions of yen
135,566
154,283

Equity ratio

Millions of yen
82,38487,018

%
60.8
56.4

2. Cash dividends
Annual dividends per share

Year ended March 31, 2020
Year ending March 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
42.50
37.50

Yen––

Yen
42.50

Yen
85.00

37.50

199.30Year ending March 31, 2021 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
92,000 (21.2)(1,400)–(2,400)–(2,600)–(107.73)1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2020

29,977,106 shares As of March 31, 2020

29,977,106 shares

Number of treasury shares at the end of the period
As of December 31, 2020

5,831,330 shares As of March 31, 2020

5,841,960 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2020

24,140,501 shares Nine months ended December 31, 20192

24,135,325 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2020

As of December 31, 2020

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade47,90736,06435,23329,917

Securities
Merchandise and finished goods

104
9,052

1,215
7,553

Work in process
Raw materials and supplies

26,877
67

25,15164

Other
Allowance for doubtful accounts

2,340
(49)

3,090
(39)

122,364

102,187

39,014(28,429)

39,171(28,793)

10,584

10,37824,224(22,073)

24,386(21,900)

2,151

2,485

7,049
240

7,040
246

(150)

(141)

89

105

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation and impairment loss
Leased assets, net
Construction in progress

135

346

7,327
(6,797)

7,162(6,674)529

487

20,541

20,845

Other

561

532

Total intangible assets

561

532

Investment securities
Long-term loans receivable

6,560
13

7,939
6

Deferred tax assets
Other

3,142
2,149

2,945
2,171

Other
Accumulated depreciation and impairment loss
Other, net
Total property, plant and equipment
Intangible assets

Investments and other assets

Allowance for doubtful accounts(1,048)(1,060)Total investments and other assets

10,816

12,002

Total non-current assets
Total assets

331,918

33,379154,283

135,566

(Millions of yen)
As of March 31, 2020

As of December 31, 2020

Liabilities
Current liabilities
Notes and accounts payable - trade21,27917,952

Short-term borrowings
Income taxes payable

10,0907,218

10,59064

Accrued expenses
Provision for bonuses

5,351
–

2,341
730

Provision for product warranties
Advances received

720
6,403

600
6,288

Other

1,941

1,600

Total current liabilities

53,00640,169

4,300
5

3,800
520

Non-current liabilities
Long-term borrowings
Long-term accounts payable - other
Deferred tax liabilities
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability

4155

9,770

8,867

Asset retirement obligations
Other

52
85

105
178

Total non-current liabilities

14,25813,012

67,26453,182

Shareholders' equity
Share capital

12,484

12,484

Capital surplus
Retained earnings

11,53877,35911,53871,531

Treasury shares(16,376)(16,346)

Total shareholders' equity

85,006

79,208Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

2,334
0

3,336
–

Foreign currency translation adjustment
Remeasurements of defined benefit plans843(1,165)855(1,015)

Total liabilities
Net assets

Accumulated other comprehensive income

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4

2,012

3,176

87,01882,384

154,283

135,566

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2019

December 31, 2020

Net sales
Cost of sales

87,97862,92564,49347,097Gross profit

25,053

17,395

Selling, general and administrative expenses

22,433

17,516

Operating profit (loss)

2,619

(121)

Interest income
Dividend income

34312

41200

Rental income
Share of profit of entities accounted for using equity method

39706

34–

Foreign exchange gains
Subsidies for employment adjustment

114
–

–
491

Non-operating income

Other

124

209

1,331

977

Interest expenses
Brand fee expense

61
93

68
0

Outsourcing expenses
Foreign exchange losses

––

624
136

Total non-operating income
Non-operating expenses

Other

108

410

Total non-operating expenses

263

1,240

3,688(384)

310

3

10

82

63

19–

–
264

Ordinary profit (loss)
Extraordinary income
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment loss
Extra retirement payments
Total extraordinary losses

102328

Profit (loss) before income taxes

3,589(701)

695
382

378
(191)

Income taxes - current
Income taxes - deferred
Total income taxes

1,077

186

Profit (loss)

2,511

(888)

Profit (loss) attributable to owners of parent

2,511(888)5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Profit (loss)
Other comprehensive income

Nine months ended

Nine months ended

December 31, 2019

December 31, 2020
2,511

(888)

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

491(0)

1,002(0)Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(309)
95

11
150

Share of other comprehensive income of entities accounted
for using equity method

23–

Total other comprehensive income

301

1,163

2,812

275

2,812

275

–

–

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6