Summary of Consolidated Financial Results for the Six Months Ended September 30, 2021
[Japanese Standards] (Consolidated)
November 10 , 2021
Company name:
OKAMOTO INDUSTRIES, INC.
Stock exchange listing:Tokyo
Stock code:
5122
URL https://www.okamoto-inc.jp/
Representative:
Yoshiyuki Okamoto, Chairman and President
Inquiries:
Hiroshi Takashima, Executive Director Accounting Dept.
November 12 , 2021
Scheduled date to file Securities Report:
December 1 , 2021
Scheduled date to commence dividend payments:
No
Supplemental material on quarterly results:
No
Presentation on quarterly results:(Amounts less than one million yen are rounded down)
1.Consolidated financial results for the six months ended September 30, 2021
(from April 1, 2021 to September 30, 2021)(1) Consolidated operating results(cumulative)(％ represents changes over the same period in the previous fiscal year.)
Profit attributable toOrdinary income
owners of parent
Millions of yen％ Millions of yen％ Millions of yen％ Millions of yen％
Six months ended September 30, 2021
44,499
13.2
4,520
41.4
5,194
35.0
27.6
3,262
Six months ended September 30, 2020
39,293 △ 16.1
3,197 △ 21.0
3,849 △ 14.5
2,556 △ 20.0
Six months ended September 30, 2021 :
4,024 million yen
18.8 ％(Note) Comprehensive income:Six months ended September 30, 2020 :3,386 million yen
9.1 ％Net sales

Operating income

Net income per shareyen
175.29136.26Six months ended September 30, 2021
Six months ended September 30, 2020

Diluted net income per shareyen－－(2) Consolidated financial position
As of September 30, 2021
As of March 31, 2021
(Reference) Own capital:

Total assets
Net assets
Millions of yen
Millions of yen
114,691
72,528112,070
70,316
As of September 30, 2021 :
69,628 million yen
As of March 31, 2021 :
67,522 million yen

Equity ratio
％
60.7
60.3

2.Dividends
Cash dividends per share
End of second quarterEnd of third quarter

yen－－

yen
50.00
50.00

yen－

yen
50.00

yen
100.00－50.00

100.00FY Ended March 31, 2021
FY Ended March 31, 2022
FY Ended March 31, 2022 (forecast)(Note) Revision of the latest dividend forecast announced:

Year-endTotal

End of first quarter

No

3.Forecasts of consolidated financial results for the year ending March 31, 2022
(from April 1, 2021 to March 31, 2022)
Net sales
Operating income
Millions of yen％
Millions of yen％
88,0001.97,800△ 5.7
Full yearNo(Note) Revision of the latest consolidated results forecast announced:(％ represents changes over the previous fiscal year.)Ordinary income
Profit attributable toNet income
Millions of yen％
Millions of yen％
yen8,600△ 12.25,700
0.1
306.24

*Notes(1) Changes in status of significant subsidiaries during the six months ended September 30, 2021No(changes in status of specified subsidiaries accompanying changes in consolidated)－
Newly consolidated subsidiaries: －Subsidiaries excluded:(2) Application of accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting principles, changes in accounting estimates, and retrospective restatements
Yes①Changes in accounting principles due to revisions to accounting standards:
No②Changes other than ①:No③Changes in accounting estimates:
No④Retrospective restatements:(4) Number of outstanding shsres(common stock)①Number of outstanding shares at period-end(including treasury stock)②Number of treasury stocks at period-end③Average number of shares during the period(cumulative total for quarterly period)①②③

Six months ended September 30, 2021
Six months ended September 30, 2021
Six months ended September 30, 2021

19,099,367
590,032
18,612,691

FY Ended March 31, 2021
FY Ended March 31, 2021
Six months ended September 30, 2020

*The current quarterly financial results are not subject to quarterly review procedures by certified public accountant or by auditing firm.
*Explanation relating to the appropriate use of forecasts of business results and other items of note.
The forecasts included in this document are based on the currentry available information and certain assumptions that we believe reasonable.
Actual results, etc. may differ from projections due to a variety of reasons.

19,599,367
891,169
18,760,287

Consolidated Quarterly Financial Statements and Notes
Consolidated Quarterly Balance Sheets

As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Electronically recorded monetary claims-operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets(millions of yen)
As of September 30, 2021

29,687
18,856
7,323
7,195
2,112
2,752
1,583
△ 31
69,47832,657
17,740
6,669
8,347
2,196
3,121
1,271
△ 3271,973

19,907
1,215

19,931
1,307

20,739149
590△921,469
42,592
112,070

20,789154
541△721,478
42,718
114,691

As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Income taxes payable
Provision for bonuses
Reserve for building demolition costs
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stockCapital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets(millions of yen)
As of September 30, 2021

19,626
2,505
2,040
1,023
206
4,598
30,00021,1902,559
1,272
1,061－4,557
30,641

1,216
2,061
7,2481,226
11,75341,754

1,071
2,126
7,235
1,087
11,521
42,162

13,047518
49,480△ 3,662
59,383

13,047518
49,852△ 2,571
60,8488,558△8△ 344
△ 66
8,139
2,793
70,316
112,070

8,451
△1383
△ 52
8,780
2,900
72,528
114,691

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income
Six months ended September 30, 2021

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Freightage and packing expenses
Other selling expenses
Salaries and bonuses
Provision for bonuses
Retirement benefit expenses
Other general and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividends income
Real estate rent
Equity in earnings of affiliates
Foreign exchange gains
Other income
Total non-operating income
Non-operating expenses
Interest expenses
Rent expenses on real estates
Foreign exchange losses
Other expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Total extraordinary gain
Extraordinary loss
Loss on retirement of noncurrent assets
Impairment loss
Operation suspension related costs
Total extraordinary loss
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income
Profit attributable to non-controlling interests
Profit attributable to owners of parent

Six months ended(Millions of yen)Six months ended

September 30, 2020
39,29329,345
9,947

September 30, 2021
44,49933,404
11,094

1,659
1,197
1,745
338
104
1,704
6,750
3,197

1,875
823
1,715
350
76
1,733
6,574
4,52014310
335
102－
78
841

14343
212
96
68
64
799

1649
79
44
189
3,849

1672－
36
125
5,194

77－
－

425102
131
3,724
1,106
△ 55
1,050
2,674
118
2,556

3456－
460
4,734
1,330
92
1,423
3,311
48
3,262

Consolidated Quarterly Statements of Comprehensive Income
Six months ended September 30, 2021

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of associates accounted forusing equity method
Total accumulated other comprehensive income
Comprehensive income(comprehensive income attributable to)Comprehensive income attributable to owners of the parent
Comprehensive income attributable to non-controlling interests

Six months ended(Millions of yen)Six months ended

September 30, 2020
2,674

September 30, 2021
3,311967△ 10△ 326
63

△ 106
6795
14162711
3,386

712
4,024

3,313
72

3,903
120Quarterly consolidated statement of cash flows

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in provision for bonuses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sales of non-current assets
Loss on retirement of non-current assets
Expenses related to suspension of operations
Decrease (increase) in notes and accounts receivable – trade
Decrease (increase) in inventoriesDecrease (increase) in other assets
Increase (decrease) in notes and accounts payable – trade
Increase (decrease) in other liabilities
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Payments for loss on disasterAmount of expenses related to suspension of operations
Cash flows from operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment and intangible assets
Proceeds from sales of property, plant and equipment and intangible
assetsPurchase of investment securities
Payments for building demolition costs
Other, net
Cash flows from investing activities

Six months ended(Millions of yen)Six months ended

September 30, 2020

September 30, 2021

3,724
1,357
2525
△ 13221△ 325
166△ 102△74102
594
△ 681
△ 238
△ 501
△ 959
△ 14
3,235
325
△ 16
△ 254
18
△ 695
△ 102
2,511

4,734
1,195
456
37
△325
△ 358
16△2△ 96－
3－
2,084
△ 1,400308
1,161
△ 577
67,592358△ 16△ 2,10955－－
5,881△ 1,635
1,635△ 1,167△ 1,6351,635△ 1,161

180△8－10△ 1,147△8△ 15812△ 1,315

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Other, net
Cash flows from financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of six months ended

Six months ended(Millions of yen)Six months ended

September 30, 2020

September 30, 2021

13△ 45△ 161△ 937△ 13△ 114
△ 1,259△ 145△ 41
25,56725,526

△ 64
△ 33
△ 852
△ 935
△ 13
△ 121
△ 2,021426
2,970
28,052
31,022

Information about net sales,profit or loss,assets,liabilities and other items by reportable segment
Six months ended September 30, 2020
(Millions of yen)
Reportable segment

Industrial
Products

HouseholdProducts(*)OtherTotal(**)Adjustment(***)Amountrecorded ontheconsolidatedquarterly
statements

Total

Net sales
Sales to externalcustomers

24,752

14,415

39,167125

39,293－39,293

43

194

237

1,673

1,910

△ 1,910－

Total

24,795

14,60939,405

1,798

41,204△ 1,910

39,293

Segment profit (loss)

1,029

2,988

4,018

151

4,169

△ 972

3,197

Intersegment sales ortransfers* The Other category is the business segment that is not included in the reportable segments, and include the group logistics

business.
** Adjustment is as follows:(1) The adjustment to segment profit represents 18 million yen in intersegment eliminations and company-wide expenses negative
990 milion yen. The company-wide expeses mainly include general and administrative expenses that are not attributable tothe reported segments.
*** Segment profit is coordinated with the operating income in the consolidated statements.
※ In the Industrial Products business segment, impairment losses on fixed assets were recorded. The impairment loss was
25 million for the first quarter of the fiscal year ended March 31, 2020.

Six months ended September 30, 2021
(Millions of yen)
Reportable segment

IndustrialProductsHouseholdProducts(*)OtherTotal(**)Adjustment(***)Amountrecorded ontheconsolidated
quarterlystatements

Total

Net sales
Sales to externalcustomers

28,270

16,10044,371

128

44,499－44,499

42232

274

1,660

1,935

△ 1,935－

Total

28,313

16,33344,646

1,788

46,434△ 1,935

44,499Segment profit (loss)

1,355

3,964

5,320

167

5,488

△ 967

4,520

Intersegment sales ortransfers* The Other category is the business segment that is not included in the reportable segments, and include the group logistics

business.
** Adjustment is as follows:(1) The adjustment to segment profit represents negative 20 million yen in intersegment eliminations and company-wide expenses
negative 988 milion yen. The company-wide expeses mainly include general and administrative expenses that are not attributable
to the reported segments.
*** Segment profit is coordinated with the operating income in the consolidated statements.
※ In the Industrial Products business and the household products business segment, impairment loss on fixed assets wasrecorded at 456 million yen. The impairment loss was recorded at 239 million yen in the industrial products business and
217 million yen in the household products business for the first quarter of the fiscal year ended March 31, 2022.