Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2022
[Japanese Standards] (Consolidated)
May 16 , 2022
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.
June 29 , 2022
Scheduled date of ordinary general meeting of shareholders:June 30 , 2022
Scheduled date to commence dividend payments:
June 29 , 2022
Scheduled date to file Securities Report:
No
Supplemental material on quarterly results:
No
Presentation on quarterly results:（For institutional investors and Analysts）(Amounts less than one million yen are rounded down)
1.Consolidated financial results for the fiscal year ended March 31, 2021
(from April 1, 2021 to March 31, 2022)(1) Consolidated operating results(cumulative)
Net sales
Millions of yen％
89,581
3.7
86,361△ 4.6
FY Ended March 31, 2022 :FY Ended March 31, 2021 :FY Ended March 31, 2022
FY Ended March 31, 2021
(Note) Comprehensive income:(％ represents changes over the same period in the previous fiscal year.)
Profit attributable toOperating income
Ordinary income
owners of parent
Millions of yen％ Millions of yen％
Millions of yen
％
7,541
△ 8.8
9,310
△ 4.9
5,577
△ 2.1
8,269
12.6
9,794
14.5
5,697
63.3
8,210 million yen△ 3.2 ％
8,482 million yen
610.9 ％Net income per
share
FY Ended March 31, 2022
FY Ended March 31, 2021
(Reference) Equity in net income of affiliates:

Diluted net income per
share
yen
yen
301.32304.40FY Ended March 31, 2022 :FY Ended March 31, 2021 :Ratio of ordinary
income to total assets
％
％
8.0
8.1
8.8
9.1

Return on equity

Ratio of operating
income to net sales
％
8.4
9.6

185 million yen
197 million yen(2) Consolidated financial position
As of March 31, 2022
As of March 31, 2021
(Reference) Own capital:

Total assets
Millions of yen
117,560
112,070
As of March 31, 2022 :As of March 31, 2021 :Net assets
Millions of yen
74,91670,316
71,962 million yen
67,522 million yen

Equity ratio

Net assets per share
％
61.2
60.3

Yen
3,932.69
3,609.27

Cash flows fromfinancing activities
Millions of yen△ 3,827△ 2,236

Cash and cash equivalents
at end of period
Millions of yen
31,81028,052(3) Consolidated cash flow

FY Ended March 31, 2022
FY Ended March 31, 2021

Cash flows fromoperating activities
Millions of yen
10,644
8,175

Cash flows frominvesting activities
Millions of yen△ 3,751△ 3,240

2.Dividends
Cash dividends per share
End offirst quarter

FY Ended March 31, 2021
FY Ended March 31, 2022
FY ended March 31,
2023 (forecast)End ofsecond quarterEnd ofthird quarter

Year-end

Total

Total
dividends(annual)

yen
-

yen
50.00
50.00

yen
-

yen
50.00
55.00

yen Millions of yen
100.001,874
105.00
1,935

-

55.00

-

55.00

110.00

Dividend
payout ratio(consolidated)

Dividend on
equity ratio(consolidated)

%
32.9
34.8

%
2.9
2.8

-

3.Forecasts of consolidated financial results for the year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)(％ represents changes over the previous fiscal year.)Net sales
Operating income
Ordinary income
Profit attributable to
Net income
Millions of yen％ Millions of yen％ Millions of yen％ Millions of yen％
yen
44,5000.0
2,600△ 42.53,000△ 42.22,000△ 38.7108.05Six months ended
92,0002.7
6,500△ 13.87,400△ 20.54,700△ 15.7253.91
Full year*Notes(1) Changes in status of significant subsidiaries during the year
(changes in status of specified subsidiaries accompanying changes in consolidated)
Newly consolidated subsidiaries:
Subsidiaries excluded:No(2) Changes in accounting principles, changes in accounting estimates, and retrospective restatements
No①Changes in accounting principles due to revisions to accounting standards:
No②Changes other than ①:No③Changes in accounting estimates:
No④Retrospective restatements:(3) 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 period① FY Ended March 31, 2022
② FY Ended March 31, 2022
③ FY Ended March 31, 2022

19,099,367 FY Ended March 31, 2021
800,839 FY Ended March 31, 2021
18,510,399 FY Ended March 31, 2021

19,599,367
891,169
18,738,032(Reference) Summary of Nonconsolidated Financial Statement
Nonconsolidated financial results for the fiscal year ended March 31,2022(from April 1, 2021 to March 31, 2022)(1) Nonconsolidated operating results(cumulative)
Net sales
FY Ended March 31, 2022
FY Ended March 31, 2021

Millions of yen
71,15069,565(％ 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
％
2.3
4,976
△ 19.6
7,408
△ 2.8
4,610
△ 0.2
0.8
6,191
17.0
7,622
6.2
4,620
28.6
Operating income

Diluted net income per
share
yen
yen
248.64245.92-

Net income per share
FY Ended March 31, 2022
FY Ended March 31, 2021
(2) Nonconsolidated financial position
As of March 31, 2022
As of March 31, 2021
(Reference) Own capital:

Total assets
Millions of yen
97,88095,707
As of March 31, 2022 :As of March 31, 2021 :Net assets
Millions of yen
60,27358,151
60,273 million yen
58,151 million yen

Equity ratio

Net assets per share
％
61.6
60.8

*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.

Yen
3,288.25
3,103.09

Consolidated Financial Statements and Notes
Consolidated 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
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets(millions of yen)
As of March 31, 2022

29,687
18,856
7,323
7,195
2,112
2,752
1,583
△ 31
69,47833,44518,001
7,102
8,035
2,058
3,115
1,306
△ 38
73,026

5,310
6,479
7,337
527
252
19,907
1,215

5,284
5,933
7,268
1,134
204
19,824642

20,739149590△921,46942,592
112,070

22,626
805
138
502
△5
24,06644,533
117,560

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
Provision for product warranties
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 stock
Capital 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 March 31, 2022

19,626
2,505
2,040
1,023
206
4,598
30,00022,024
2,654
724
1,033
60
4,300
30,797

1,216
2,061
7,248
1,226
11,75341,754

1,044
2,610
7,110
1,081
11,84642,643

13,047518
49,480△ 3,662
59,383

13,047555
51,241△ 3,426
61,418

8,558
△8
△ 344
△ 66
8,139
2,793
70,316
112,070

9,662
△ 14
855
40
10,543
2,954
74,916
117,560

Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income

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
Other expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment securities
Total extraordinary gain
Extraordinary loss
Loss on retirement of noncurrent assets
Impairment loss
Loss on sales of investment securities
Loss on valuation of investment securities
Loss on liquidation of subsidiaries
Special retirement expenses
Operation suspension related costs
Provision of reserve for building demolition 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

Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2021
86,361
63,50722,853

March 31, 2022
89,581
68,02021,560

3,569
3,088
3,818
348
244
3,514
14,583
8,269

3,782
2,336
3,760
364
166
3,608
14,019
7,541

26
539
543
197
170
279
1,756

34
686
472
185
390
213
1,981

30
120
81
232
9,794

27
102
82
212
9,310

7
40
47

16
16

23
1,398
30
100
430
1,982
7,859
2,607
△ 360
2,246
5,612
△ 84
5,697

657
750
147
64
25
1,645
7,681
1,978
0
1,978
5,703
125
5,577

Consolidated Statements of Comprehensive Income

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

Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2021
5,612

March 31, 2022
5,703

3,235
△ 17
△ 496
117

1,099
△5
1,311
107

31

△6

2,869
8,482

2,506
8,210

8,568
△ 86

7,982
228

Consolidated statement of changes in equity
Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Cumulative effects of changes
in accounting policies
Restated balance

Capital surplus

13,047448

Retainedearnings

45,658

Total shareholders'equityTreasury stock△ 3,173

55,981-

13,047448

45,658△ 3,173

55,981

Changes of items during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesRetirement of treasury
shares△ 1,875

5,697

5,697
△ 489

△ 489
-

0

Disposal of treasury shares
Increase / decrease insurplus due to acquisitionof treasury stock fromconsolidated subsidiaries
Transfer to capital surplus
from retained earnings
Purchase of shares of
consolidated subsidiaries
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period△ 1,875

0

70

0
70
-

-

70

3,821

△ 489

3,401

13,047518

49,480△ 3,662

59,383

Accumulated other comprehensive income

Balance at beginning ofcurrent period
Cumulative effects of changes
in accounting policies
Restated balance

Valuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedges5,283

8Foreigncurrencytranslation
adjustment

159

Total accumulated
Remeasurements ofother comprehensive
defined benefit plansincome

△ 184

5,268

Noncontrollinginterests

2,588

Total net
assets63,838
-

5,283

8

159

△ 184

5,268

2,588

63,838Changes of items during period△ 1,875

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesRetirement of treasury
shares

5,697
△ 489
0

Disposal of treasury shares
Increase / decrease insurplus due to acquisitionof treasury stock fromconsolidated subsidiaries
Transfer to capital surplus
from retained earnings
Purchase of shares of
consolidated subsidiaries
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

70
3,275

△ 16

△ 504

117

2,871

205

3,076

3,275

△ 16

△ 504

117

2,871

205

6,478

8,558

△8

△ 344

△ 66

8,139

2,793

70,316

Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders’ equity
Capital stock

Capital surplus

13,047

518

Cumulative effects of changes
in accounting policies
Restated balance

Retainedearnings

49,480Total shareholders'equityTreasury stock△ 3,662△ 10
13,047518

49,46959,383△ 10△ 3,662

59,373

Changes of items during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesRetirement of treasury
shares△ 1,861△ 1,861

5,577

5,577
△ 1,707△ 1,944

1,944-

Disposal of treasury shares
Increase / decrease insurplus due to acquisitionof treasury stock fromconsolidated subsidiaries
Transfer to capital surplus
from retained earnings
Purchase of shares of
consolidated subsidiaries
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period△ 1,707

1,944△ 1,944

-

36

36
-

-

36

1,771

236

2,045

13,047555

51,241△ 3,426

61,418

Accumulated other comprehensive income

Balance at beginning ofcurrent period
Cumulative effects of changes
in accounting policies
Restated balance

Valuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedges8,558△8Foreigncurrencytranslation
adjustment△ 344

Total accumulated
Remeasurements ofother comprehensive
defined benefit plansincome

△ 66

8,139

Noncontrollinginterests

2,793

Total net
assets70,316
△ 10

8,558

△8

△ 344

△ 66

8,139

2,793

70,306

Changes of items during period△ 1,861

Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesRetirement of treasury
shares5,577△ 1,707-

Disposal of treasury shares
Increase / decrease insurplus due to acquisitionof treasury stock fromconsolidated subsidiaries
Transfer to capital surplus
from retained earnings
Purchase of shares of
consolidated subsidiaries
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

36
1,103

△6

1,200

107

2,404

160

2,564

1,103

△6

1,200

107

2,404

160

4,609

9,662

△ 14

855

40

10,543

2,954

74,916

Consolidated statement of cash flows

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Share of loss (profit) of entities accounted for using equity method
Increase (decrease) in provision for bonuses
Provision of reserve for building demolition costs
Increase (decrease) in net defined benefit liability
Increase (decrease) in other provisionInterest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
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 inventories
Decrease (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
Payments for building demolition costs
Purchase of property, plant and equipment and intangible assets
Proceeds from sales of property, plant and equipment and intangible
assetsPurchase of investment securities
Proceeds from sales of investment securities
Payments of long-term loans receivable
Other, net
Cash flows from investing activities

Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2021

March 31, 2022

7,859
2,853
1,398
△ 15
△ 197
△ 33
430
443
△ 565
30
△ 10
△ 40
△7
23
100
△ 2,714
424
△ 94
△ 189
△ 297
△ 22
9,373
565
△ 30
△ 901
△ 728
△ 102
8,175

7,681
2,426
750
0
△ 185
8
13
60
△ 720
27
△ 21
131
64
657
1,600
△ 795
345
1,704
△ 595
△9
13,145720△ 27△ 3,277
82
10,644△ 3,265
3,265△ 158△ 2,680△ 3,165
3,165△ 315△ 2,599

18

0

△ 446
54
△ 27
△ 3,240

△ 318
295
△ 771
△ 42
△ 3,751

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Dividends paid to non-controlling interests
Purchase of treasury shares
Proceeds from sales and leasebacks
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 period

Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2021

March 31, 2022

63
1,080
△ 1,081△ 1,875
△ 27
△ 170
△ 224
△ 2,236△ 213
2,484
25,56728,05240△ 79△ 1,861△ 26△ 1,70754△ 246△ 3,827692
3,757
28,052
31,810Information about net sales,profit or loss,assets,liabilities and other items by reportable segment
Fiscal year ended March 31, 2021
(Millions of yen)
Reportable segment

Industrial
Products

HouseholdProducts*OtherTotal**Adjustment

Amountrecorded ontheconsolidated
financialstatements

Total

Net sales
Sales to externalcustomers

53,68932,442

86,131229

86,361-86,361

95

383

478

3,375

3,854

△ 3,854-

Total

53,78432,82586,6103,604

90,215△ 3,854

86,361

Segment profit (loss)

3,461

6,531

9,992

296

10,289△ 2,019

8,269

Segment assets

39,10526,74365,848

1,963

67,811

44,259112,070

Depreciation

1,923

751

2,675

97

2,773

80

2,853

Impairment loss

1,264

133

1,398

-

1,398

-

1,398

Increase in property,plantand equipment andintangible assets

1,283

615

1,899

9

1,909

1,125

3,034

Intersegment sales ortransfers

Others* The Other category is the business segment that is not included in the reportable segments, and include the group logistics
business and solar power business.
** Adjustment is as follows:(1) The adjustment to segment profit represents 39 million yen in intersegment eliminations and company-wide expenses negative
2,058 milion yen. The company-wide expeses mainly include general and administrative expenses that are not attributable to
the reportable segments.
(2) Segment profit is adjusted to operating income in the consolidated statements of income.
(3) The adjustment to segment assets represents negative 99 milion yen in intersegment eliminations and company-wide assets
44,358 milion yen. The company-wide assets mainly include funds to manage surplus(cash and deposits), real estate for rent
and assets related to the administration division.

Fiscal year ended March 31, 2022
(Millions of yen)
Reportable segment

Industrial
Products

HouseholdProducts*OtherTotal**Adjustment

Amountrecorded ontheconsolidated
financialstatements

Total

Net sales
Sales to externalcustomers

57,14332,19489,338242

89,581-

89,581

88

458

546

3,311

3,857

△ 3,857-

Total

57,23232,652

89,884

3,554

93,438△ 3,857

89,581

Segment profit (loss)

1,608

7,598

9,207

282

9,489

△ 1,948

7,541

Segment assets

42,582

26,74069,322

1,965

71,287

46,272

117,560

Depreciation

1,405

842

2,247

86

2,334

92

2,426

Impairment loss

553

196

750

-

750

-

750

1,631

1,223

2,855

10

2,866

258

3,124

Intersegment sales ortransfers

OthersIncrease in property,plantand equipment andintangible assets* The Other category is the business segment that is not included in the reportable segments, and include the group logistics
business and solar power business.
** Adjustment is as follows:(1) The adjustment to segment profit represents 41 million yen in intersegment eliminations and company-wide expenses negative
1,989 milion yen. The company-wide expeses mainly include general and administrative expenses that are not attributable to
the reportable segments.
(2) Segment profit is adjusted to operating income in the consolidated statements of income.
(3) The adjustment to segment assets represents negative 473 milion yen in intersegment eliminations and company-wide assets
46,746 milion yen. The company-wide assets mainly include funds to manage surplus(cash and deposits), real estate for rent
and assets related to the administration division.