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 Year Ended March 31, 2022
(Based on Japanese GAAP)May 11, 2022
Company name:TAYCA CORPORATION

Stock exchange listing: Tokyo
Stock code:
4027
Representative:

Inquiries:

URL

https://www.tayca.co.jp/

Representative Director
President Executive Officer

Hirofumi Yamazaki

Managing Executive Officer
General Manager

Yasuyuki Nakatsuka

General Affairs Department
Scheduled date of ordinary general meeting of shareholders:June 28, 2022

Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

June 29, 2022
June 13, 2022

Preparation of supplementary material on financial results:
Holding of financial results meeting:

NoNo

TEL

06-6943-6401(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(1) Consolidated operating resultsPercentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
20.7
3,651
24.7
4,156
51.6
2,845
47.6
(15.5)
2,927(49.6)
2,740 (52.7)
1,927(49.7)

Net salesYear ended March 31, 2022
Year ended March 31, 2021

Millions of yen
46,36238,402

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%
–
5.6
5.9
7.9–
4.0
4.1
7.6

Diluted earnings pershare

Earnings per shareYen
122.7983.16

Year ended March 31, 2022
Year ended March 31, 2021
(2) Consolidated financial position

Total assets
As of March 31, 2022
As of March 31, 2021

Net assets

Equity ratio

Millions of yen
72,12869,177

Millions of yen
51,26350,230Cash flows fromoperating activities
Millions of yen
4,841
4,953

Cash flows frominvesting activities
Millions of yen(2,807)(4,905)

Net assets per share
%
70.6
72.1

Yen
2,196.16
2,152.62(3) Consolidated cash flows

Year ended March 31, 2022
Year ended March 31, 2021

Cash flows fromCash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(2,363)
12,981
2,519
13,2502. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2021
Year ended March 31, 2022
Year ending March 31, 2023
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

––

18.00
18.00

––

18.00
18.0036.00
36.00

834834

43.3
29.3

1.7
1.7

–

18.00

–

18.00

36.00

128.8

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Millions of yen
Six months ending
September 30, 2022
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen

26,000

18.0

2,000

3.0

2,100(1.5)

1,500(7.1)

64.72

54,00016.53,900

6.8

4,200

1.1

2,900

1.9

125.13

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

25,714,414 shares As of March 31, 2021

25,714,414 shares

Number of treasury shares at the end of the period
As of March 31, 2022

2,539,291 shares As of March 31, 2021

2,538,667 shares

23,175,426 shares Year ended March 31, 2021

23,175,994 shares

Average number of shares during the period
Year ended March 31, 20222

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of March 31, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade13,329
11,202

13,06013,738

Electronically recorded monetary claims - operating
Merchandise and finished goods

193
7,164

350
8,044

Work in process
Raw materials and supplies

1,116
3,342

1,279
4,997

634
(2)

831
(2)

36,97942,300

Buildings and structures, net
Machinery, equipment and vehicles, net

6,724
7,774

6,421
7,028

Land
Construction in progress

1,695
936

1,695
1,662

493

438

17,624

17,246

GoodwillOther1,536
230

1,463
164

Total intangible assets

1,767

1,628

Investments and other assets
Investment securities

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment
Intangible assets

11,797

9,786

Long-term prepaid expenses
Deferred tax assets

637
71

800
80

Other
Allowance for doubtful accounts

323
(23)

305
(20)

Total investments and other assets

12,806

10,95332,19829,827

69,177

72,128

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2021

As of March 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses

3,914

6,873

465
1,950

963
1,942

442
350

864
360

Other

2,875

3,485

Total current liabilities

9,999

14,490Long-term borrowings
Lease liabilities

4,038
56

2,100
–

Deferred tax liabilities
Long-term accounts payable - other

1,692
9

1,112
9

Retirement benefit liability

3,152

3,152

Total non-current liabilities

8,948

6,374

18,947

20,865

Share capital
Capital surplus

9,855
6,766

9,855
6,766

Retained earnings
Treasury shares

29,551(2,459)31,562(2,460)Total shareholders' equity

43,71445,725

Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive incomeValuation difference on available-for-sale securities

6,370

4,912

Deferred gains or losses on hedges
Foreign currency translation adjustment

61
(187)

181
72

Remeasurements of defined benefit plans

(71)

4

6,173

5,170

341

367

50,23051,263

69,177

72,128

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2021

Fiscal year ended
March 31, 2022

Net sales

38,402

46,362

Cost of sales

29,37736,709Gross profit

9,025

9,653

Selling, general and administrative expenses

6,097

6,001

Operating profit

2,927

3,651

Non-operating income
Interest income

15

Dividend income
Compensation income

213
162

208–

Income on conpensation
Subsidies for employment adjustment

119118–43

Foreign exchange gains
Other

24
92251
61

Total non-operating income

732

570

50

34

19826

11–

Other

23

19

Total non-operating expenses

918

65

Non-operating expenses
Interest expenses
Loss on abandonment of inventories
Costs related to the suspension of operations

Ordinary profit

2,740

4,156

Extraordinary income
Gain on sales of investment in capital–

67

Gain on cancellation of leases
Gain on sale of investment securities

–
129

21
5

Compensation for forced relocation180–

Total extraordinary income

309

94

Loss on retirement of non-current assets
Loss on valuation of investments in capital

261
48

157
–

Head office relocation expenses

12–

Extraordinary losses

Total extraordinary losses

321

157

2,728

4,093

Income taxes - current

829

1,244

Income taxes - deferred

(49)

(31)

Profit before income taxes

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

5779

1,212

1,949

2,880

2234

1,927

2,845

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022
1,949

2,880

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

2,362
146(1,458)
120

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(316)
79258
75

Total other comprehensive income

2,272(1,003)

4,222

1,876

4,215

1,842

633

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

6Consolidated statements of changes in equity
Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

9,855

Retained earnings

6,766

Total shareholders'equity

Treasury shares

28,551(2,458)42,714

Changes during period
Dividends of surplus

(927)

(927)

Profit attributable to ownersof parent

1,927

1,927

Purchase of treasury shares

(0)

(0)

Disposal of treasury shares

00

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period––

1,000(0)

999

9,855

6,766

29,551(2,459)43,714

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

4,008

(85)

112

Total accumulated
Non-controlling
Total net assets
otherinterestsof defined benefit
comprehensive
plansincomeRemeasurements

(151)

3,885

340

46,940Changes during period
Dividends of surplus(927)

Profit attributable to ownersof parent

1,927Purchase of treasury shares(0)

Disposal of treasury shares0

Net changes in items otherthan shareholders' equity

2,362

146(300)

79

2,288

0

2,289

Total changes during period

2,362

146(300)

79

2,288

0

3,289

Balance at end of period

6,370

61(187)

(71)

6,173

341

50,2307

Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

9,855

Retained earnings

6,766

Total shareholders'equity

Treasury shares

29,551(2,459)43,714

Changes during periodDividends of surplus

(834)

(834)

Profit attributable to ownersof parent

2,845

2,845

Purchase of treasury shares

(0)

(0)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

––

2,011

(0)

2,010

9,855

6,766

31,562(2,460)45,725

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges6,370

61

Foreigncurrencytranslation
adjustment(187)

Total accumulated
Non-controlling
Total net assets
otherinterestsof defined benefit
comprehensiveplansincomeRemeasurements

(71)

6,173

341

50,230Changes during period
Dividends of surplus(834)

Profit attributable to ownersof parent

2,845

Purchase of treasury shares(0)

Net changes in items otherthan shareholders' equity(1,458)

Total changes during period
Balance at end of period

120

259

75

(1,002)(1,458)

120

259

75

(1,002)

25

1,033

4,912

181

72

4

5,170

367

51,263825(977)

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022
2,728

4,093

Depreciation
Amortization of goodwill

2,737
219

3,212
243

Loss (gain) on sale of investment securities
Loss on retirement of non-current assets

(129)
261

(5)
157

Increase (decrease) in retirement benefit liability
Interest and dividend income

31(215)108(213)Interest expenses
Decrease (increase) in trade receivables

50
1,782

34(2,654)

Decrease (increase) in inventories
Increase (decrease) in trade payables

(48)
(794)

(2,646)2,880

Increase (decrease) in accrued consumption taxes
Other, net

50(505)372(89)

Subtotal

6,168

5,493

215
(50)

213
(34)

Income taxes paid

(1,380)(831)

Net cash provided by (used in) operating activities

4,953

4,841

Purchase of property, plant and equipment
Purchase of investment securities(4,857)(6)(2,473)(106)

Proceeds from sale of investment securities
Other, net

175
(216)

19(245)

Net cash provided by (used in) investing activities(4,905)(2,807)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings

(107)

493

5,000(1,411)–(1,954)

Purchase of treasury shares
Dividends paid

(0)
(924)

(0)
(830)

Dividends paid to non-controlling interests
Other, net(5)
(31)

(8)
(62)

2,519

(2,363)

Interest and dividends received
Interest paid

Cash flows from investing activities

Proceeds from long-term borrowings
Repayments of long-term borrowings

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(29)

60

Net increase (decrease) in cash and cash equivalents

2,537

(268)

Cash and cash equivalents at beginning of period

10,713

13,250Cash and cash equivalents at end of period

13,25012,9819