Consolidated Financial Results
For the Fiscal Year Ended March 31, 2022
(Japan GAAP)May 16, 2022

Name of listed company:

Nippon Light Metal Holdings Company, Ltd.

Stock exchange listing:Tokyo

Code number:

5703

URL:

https://www.nikkeikinholdings.com/

Representative:

Ichiro OKAMOTO,

Contact:

Chizu ISHIKAWA,

Phone:+81-03-6810-7162

President & Chief Executive Officer
Public Relations and IR Director, Planning &Supervision Office

Scheduled date of Ordinary General Meeting of Shareholders:June 24, 2022

Scheduled date of commencement of dividend payment:

June 27, 2022

Scheduled date of filing securities report:

June 24, 2022

Preparation of supplementary materials for financial results:

Yes

Holding of a briefing on financial results:

Yes (for institutional investors and analysts)(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021－March 31, 2022)(1) Consolidated Operating Results(% figures show year-on-year change)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions ofMillions ofMillions ofMillions of
Fiscal year ended
%
%
%
%
yen
yen
yen
yen
March 31, 2022
486,579
12.5
22,198(8.2)
22,928(4.6)
16,759397.9March 31, 2021

432,568(7.2)

24,194(1.7)

24,0302.4

3,366(55.0)(Note) Comprehensive income: Fiscal year ended March 31, 2022
Fiscal year ended March 31, 2021

¥20,074 million /105.3%¥9,777 million / (59.4%)

Net profit per
share (basic)

Net profit per
share (diluted)

Return on
equity (ROE)

Ordinary profit
to total assets

Operating profit
to net sales

Fiscal year ended

Yen

Yen

%

%

%

March 31, 2022

270.77

－

8.5

4.4

4.6

March 31, 2021

54.37

－

1.8

4.9

5.6

(Reference) Share of loss (profit) of entities accounted for using equity method:
Fiscal year ended March 31, 2022:¥1,663 million
Fiscal year ended March 31, 2021:¥623 million(Note) On October 1, 2020, the Company implemented a share consolidation in which ten shares of common stock
were consolidated into one share. As a result, net profit per share is calculated on the assumption that thisshare consolidation was carried out at the start of the previous consolidated fiscal year.

-1-(2) Consolidated Financial Position
Total assets

Net assets

As of March 31, 2022

Millions of yen
532,601

Millions of yen
220,907

Equity ratio%
38.1

Net assets per shareYen
3,281.17

As of March 31, 2021

506,955

207,104

37.6

3,081.54(Reference)
Shareholders’ equity:

As of March 31, 2022:¥203,089 million
As of March 31, 2021:¥190,712 million(Note) On October 1, 2020, the Company implemented a share consolidation in which ten shares of common stock
were consolidated into one share. As a result, net assets per share is calculated on the assumption that thisshare consolidation was carried out at the start of the previous consolidated fiscal year.
(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end ofyear

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2022

1,487

(18,021)(626)

45,145

March 31, 2021

41,942(25,674)

8,194

61,176

2. Dividends

Annual dividends per share

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
(forecast)

Ratio of
Payoutdividends toratio
net assets(consolidated) (consolidated)

Total
dividends(annual)End offirstquarter

End ofsecondquarter

End ofthird
quarterYearend

Total

Yen

Yen

Yen

Yen

Yen

Millions of
yen

%

%

―

0.00

―

65.00

65.00

4,024

119.6

2.1

―

40.00

―

45.00

85.00

5,263

31.4

2.7

―

40.00

―

45.00

85.00

37.6

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023
(April 1, 2022–March 31, 2023)(% figures show year-on-year change)
Net
Profit attributableprofitNet sales
Operating profit
Ordinary profit
to owners ofperparentshare
Six months ending
September 30,2022
Fiscal year ending
Mach 31,2023

Millions ofyen%Millionsof yen%Millionsof yen%Millionsof yen%Yen

260,000

10.1

5,500

△60.8

5,000

△64.8

3,000

△72.3

48.47

540,000

11.0

20,000△9.9

20,000△12.8

14,000△16.5

226.19-2-

*Notes(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries affecting the scope of consolidation): None
Newly added: ― (Company name: ― )Excluded: ― (Company name: ― )(2) Changes in accounting policies, changes in accounting estimates, and restatements(i) Changes in accounting policies due to revision of accounting standards: Yes(ii) Changes in accounting policies other than item (i) above: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of shares outstanding (common stock)(i) Number of shares outstanding at end of period (including treasury stock)
As of March 31, 2022
61,993,750 shares
As of March 31, 2021
61,993,750 shares(ii) Number of treasury stock at end of period
As of March 31, 2022
98,476 shares
As of March 31, 2021
105,121 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2022
61,894,906 sharesFiscal year ended March 31, 2021
61,910,894 shares(Note) On October 1, 2020, the Company implemented a share consolidation in which ten shares of common stock
were consolidated into one share. As a result, the number of shares outstanding (common stock) is calculatedon the assumption that this share consolidation was carried out at the start of the previous consolidated fiscal
year.
* The consolidated financial results are not subject to auditing by a certified public accountant or an audit firm.
* Explanations concerning the appropriate use of financial forecasts and other special notes(Note of caution concerning forward-looking statements)
The forward-looking statements such as result forecasts included in this document are based on the information
available to the Company at the time of the announcement and on certain assumptions considered reasonable, and theCompany makes no representations as to their achievability. Actual results may differ materially from the forecast
depending on a range of factors.

-3-

ページ

[Attached documents]
Index
1.

Overview of operating results ..........................................................................................................................5(1) Overview of operating results in fiscal year under review.............................................................................5(2) Overview of financial position in current fiscal year .....................................................................................9(3) Basic policy regarding profit distribution and dividends for the fiscal year ended March 31, 2022 andfiscal year ending March 31, 2023.................................................................................................................10

2.

Management policies .....................................................................................................................................11(1) Company’s basic policy on management ......................................................................................................11(2) Company’s medium- and long-term management strategy ...........................................................................11(3) Management indicators ..................................................................................................................................123.

Basic approach to selection of accounting standards .....................................................................................12

4.

Consolidated Financial Statements and Important Notes ..............................................................................14(1) Consolidated balance sheets ..........................................................................................................................14(2) Consolidated statements of income and consolidated statements of comprehensive income........................16(3) Consolidated statement of changes in shareholders' equity ...........................................................................18(4) Consolidated statements of cash flows ..........................................................................................................20(5) Notes regarding the consolidated financial statements ..................................................................................21(Notes on premise of going concern) ..........................................................................................................21(Segment information, etc.) ........................................................................................................................23(Information per share) ...............................................................................................................................25(Significant subsequent events) ..................................................................................................................26-4-

1. Overview of operating results(1) Overview of operating results in fiscal year under review(i) Operating results in fiscal year under review

The recovery in the global economy has spread in this fiscal year as economic activity normalizes with the progress
made by COVID-19 countermeasures taken in various countries and the easing of restrictions, among other factors.
However, raw material prices are skyrocketing, production is declining due to a shortage of parts, particularly
semiconductors, distribution has stalled, and in addition, Russia’s military action in Ukraine in February has madeconditions tense, causing confusion again. In the aluminum industry, the prices of aluminum metal and other materials
that are key raw materials continued to rise.
In this economic environment, the Group endeavored to steadily implement its measures based on its basic policies
and to achieve its target figures in this final year of its medium-term management plan (fiscal 2019 to fiscal 2021).
The first basic policy is to create new products and new business. To this end, the Group explored its customers’ andsociety’s needs utilizing a wide range of business areas, and responded to these needs by combining its technologies
and businesses in a complex way to turn them into products and businesses. Specifically, in the automotive field, theGroup combined its alloys, construction methods, and processing techniques to develop products with heat resistance,such as aluminum radiation plates for eco-friendly cars, as well as aluminum busbars that reduce weight, and bringthese products onto the market. The Group also commercialized a proprietary technology for solidly bonding resin
onto surface-treated metal (PAL-fit®) for auto parts. In addition, the Group focused on developing products andexpanding sales in the battery field and semiconductor manufacturing equipment field, among others.

The Group’s second basic policy is to invest resources for growth. The Group more aggressively invested
management resources into areas and regions in which it can utilize its strengths and built up a foundation for growth.
In India, Toyo Aluminium K.K. acquired additional shares in Svam Packaging Industries Private Ltd., which operates
an aluminum foil business for medical packaging materials, and made it a subsidiary. This reinforced its foundation
for meeting growing demand in this region. In the US, the Group reinforced the production capacity of Nikkei MC
Aluminum America, Inc., a subsidiary in the secondary alloy business to address higher demand for auto bodystructural materials in response to the need for lighter automobiles. In addition to these efforts, Nippon Light Metal
Georgia, Inc., a subsidiary in the US that makes auto chassis parts, completed preparations for full-scale operations
in fiscal 2022, and CMR Nikkei India Private Ltd., a subsidiary in the secondary alloy business in India, made steadyprogress in preparing for the start of operations. In this fiscal year, the Chinese subsidiary of Toyo Rikagaku
Kenkyusho Co., Ltd., which operates a sheet processed product business, was sold in light of future profitability andinvestment obligations, but was sold outside of the Group with a view to continuing the business and the employment
the company offered. In this way, the Group achieved balance in allocating resources.
The third basic policy is to strengthen the management foundation. Under this policy, in order to further emphasize
and encourage sustainability management, the Group organized and identified its material issues (materiality) andprocess for sustainable value creation. In addition, the Group put together an integrated report in tandem with its
initiatives addressing issues such as decarbonization, female advancement, and support and employment for disabled
people, and publicized this internally and outside of the company.
Financial results in the fiscal year under review were as follows.
Sales volume increased for the aluminum chemical sector and in the field of secondary alloy for automobiles, demand
related to machinery and electronics was solid, and sales prices rose in the ingot sector and the aluminum sheet andextrusions sector, reflecting conditions in the aluminum metals market. As a result of these factors, net sales surpassed
the previous year’s levels. At the same time, operating profit and ordinary profit fell short of the previous year’s levels
due to the impact of the steep rise in raw material and fuel prices and the impact of a slowdown in production due toa shortfall in the chassis supply resulting from the semiconductor shortage in the truck bodies business. In this fiscal
year, Nippon Fruehauf Co., Ltd., posted an extraordinary loss for costs related to inspecting and repairing the products
covered under a recall notification it submitted, but the profits generated by the transfer of all of the equity that Toyo
Rikagaku Kenkyusho Co., Ltd. owned in its Chinese subsidiary was posted as extraordinary profits, and in addition,
the costs of sediment countermeasures at Amehata Dam, which were posted as extraordinary losses in the previous
fiscal year, were not included in the statements of income this fiscal year. As a result, profit attributable to owners ofparent increased significantly over the previous fiscal year.

-5-Consolidated Results of Operations

Net sales
Operating profit
Ordinary profit
Profit attributable toowners of parent(Unit: million yen)

Current consolidated
fiscal year (ended on
March 31, 2022)
486,579
22,19822,928Previous consolidated
fiscal year (ended on
March 31, 2021)
432,568
24,19424,03016,7593,366

Change54,011(1,996)(1,102)

13,393

YoY
12.5%（8.2%）（4.6%）
397.9%

An overview of each business segment in the current fiscal year is provided below.
<Aluminum ingot and chemicals>
In the aluminum chemical sector, the sales volume for mainstay aluminum hydroxide and alumina-related products
increased thanks to an ongoing recovery in demand for ceramic for refractories and automobile applications, andfillers for radiation applications. Sales were also solid for chemical products, especially flocculants and inorganic
chlorine compounds. As a result, net sales far exceeded the previous year’s levels and in terms of profitability, income
also rose.
In the ingot sector, net sales surpassed the previous year’s levels because, despite the impact of the suspension ofoperations caused by a reduction in auto production from the second half of the fiscal year, sales continued to recoverin the mainstay field of secondary alloy for automobiles both in Japan and overseas, and sales prices rose, reflecting
conditions in the aluminum metal market. In terms of profitability, income also increased over the previous year,
despite the impact of skyrocketing resource prices and higher fuel prices.
As a result of the above, net sales in the aluminum ingot and chemicals segment rose by 40.0% over the previous
fiscal year to 127,633 million yen and operating profit increased by 35.4% to 13,021 million yen.
<Aluminum sheet and extrusions>
In the sheet product sector, sales of thick plates for semiconductor and LCD manufacturing equipment continued to
exceed the previous year’s levels due to solid demand throughout the fiscal year. In addition, sales prices rose,reflecting conditions in the aluminum metal market. Accordingly, net sales significantly surpassed the previous year’slevels.
In the extruded product sector, products for automobiles and truck bodies were affected by lower production of
automobiles and truck chassis, caused by a shortfall in the semiconductor supply, but this was offset by solid sales ofrailway cars and industrial equipment for semiconductor manufacturing equipment, as well as a rise in sales prices
reflecting conditions in the aluminum metals market. As a result, net sales increased and, on the profitability side,
income also rose over the previous year.
As a result of the above, net sales in the aluminum sheet and extrusions segment increased by 16.4% over the previous
fiscal year to 113,876 million yen, and operating profit rose by 26.4% to 7,518 million yen.
<Fabricated products and others>
Results in the key sectors are described below.
In the transport-related sector, net sales fell far short of the previous year’s levels due to a sharp decline in sales ofcompleted cars to truck manufacturers in the truck bodies business as a result of supply chain turmoil, namely theinsufficient supply of chassis attributable to the semiconductor shortage. In terms of profitability, in addition to a dropin units sold, an increase in material prices attributable to a steep rise in the price of aluminum metal and higher costs
due to the drop in capacity utilization made for extremely harsh conditions.
In the heat exchange products business, net sales and operating profit both fell short of the previous year’s levels due
a sluggish recovery in demand for condensers for air conditioners, particularly for mainstay light automobiles, due tothe impact of the decline in automobile production.
In the industrial parts business, despite some impact from decreased auto production in the second half, sales of-6-mainstay brake calipers and automotive air-conditioning products trended strong, and both net sales and operating
profit far surpassed the previous year’s levels.
In the electronic material business, demand for communication base stations increased, and sales for automotive
equipment remained strong, as in the previous fiscal year, leading to an increase in sales volume for anodized foil forelectric capacitors. As a result, both net sales and operating profit increased over the previous fiscal year.
In the panel system division, demand for semiconductor factories in the clean room area were solid, but sales were
almost unchanged from the previous year’s levels due to the impact of postponement of construction for some projects
until at least the next fiscal year. In addition, in the refrigerator and freezer area, sales for stores and kitchensdecreased, but several projects whose construction periods had been delayed, such as a project for a food processing
factory, were resumed, resulting in higher sales over the previous year. As a result, net sales in the division overall
increased compared with the previous year, but operating profit fell significantly, in part due to the impact of the
sharp rise in material prices.
In the landscape engineering division, demand for urban landscapes was solid overall, but in the case of landscapesfor structures, special demand related to the Olympics, such as covers for water purification plants, wound down, andin the road and bridge area, although demand for scaffolding products used for inspections was firm, demand for themainstay bridge railings declined. As a result, net sales and operating profit were both down significantly over theprevious fiscal year in the division overall.
In the carbon products division, demand for carbon blocks for the steel industry was solid both in Japan and overseas,leading to net sales and operating profit that significantly surpassed the previous year’s levels.
As a result of the above, net sales in the fabricated products and other segment decreased by 2.5% to 153,415 million
yen over the previous fiscal year, and operating profit fell by 57.5% due to harsh conditions in the truck bodies
business, to 3,776 million yen.
<Aluminum foil, powder, and paste>
In the aluminum foil division, the sale of processed foil for healthcare and for the circuits used with IC cards fortransportation declined, but demand for foil for the outer packaging of lithium-ion batteries and foil for positiveelectrode material was strong for automobiles in particular. As a result, net sales in the division overall surpassed theprevious year’s levels, but operating profit fell short of the previous year’s levels due to the impact of the steep risein raw material prices.
In the powder and paste division, in powder products, sales of aluminum nitride and electronic material aluminum
powder for radiation applications was strong due to growing demand from the telecommunications and automobile
sectors, and in paste products, sales for mainstay automobile paints rose over the previous year despite the impact ofthe decline in auto production in the second half. As a result, net sales in the division overall surpassed the previous
year’s levels, but operating profit fell short of the previous year’s levels due to the impact of the steep rise in raw
material prices.
In the daily necessities division, demand for house-care products remained solid, despite the reactionary decline instay-at-home demand from consumers in the second half, resulting in sales exceeding the previous year’s levels.
However, in products for packaging, sales of aluminum foil and cases for restaurants and aluminum containers forconvenience stores were low. As a result, net sales and operating profit in the division overall undercut the previous
year’s levels.
As a result of the above, net sales in the aluminum foil, powder, and paste business rose 6.3% over the previous fiscal
year to 91,655 million yen, but operating profit fell 52.6% to 1,570 million yen.
(ii)

Earnings forecasts for the next fiscal year (year ending on March 31, 2023)

We expect a new normal that takes advantage of remote work and other changes to take hold while measures to reduce
the risk of the spread of COVID-19 continue to be taken. The global economy will remain in a modest recovery
despite the impact of supply chain turmoil, high prices and labor shortages. At the same time, there is a risk that
economic growth could be pushed down significantly by the growing number of factors causing anxiety over the
economy, including conditions in Ukraine, economic sanctions on Russia and monetary tightening in the US.
In this environment, we have estimated consolidated earnings based on the information and projections available at-7-this point.
The Group’s consolidated earnings forecasts and earnings forecasts by segment for the fiscal year ending in March2023 are shown below.
Consolidated earnings forecasts(Unit: hundred million yen)
Forecast for fiscal
year ending inMarch 2023
(A)

Fiscal year ended in
March 2022 – Actual
(B)

5,400

4,866

534

11.0%

Operating profit

200

222

(22)

（9.9%）

Ordinary profit

200

229

(29)

（12.7%）

Profit attributable toowners of parent

140

168

(28)

（16.7%）Net sales

Earnings forecasts by segment

Segments

Change(A-B)(Unit: hundred million yen)
Net sales(over previous fiscal year)

Operating profit(over previous fiscal year)

Aluminum ingot andchemicals

1,610

334

26.2%

125

(5)

(3.8%)

Aluminum sheet andextrusions

1,090

(49)

(4.3%)

40(35)(46.7%)

Fabricated products
and others

1,670

136

8.9%

35

(3)

(7.9%)

Aluminum foil,
powder, and paste

1,030

113

12.3%

40

24

150.0%

Elimination andcompany-wide

－

－

－

(40)

(3)

－

Total

5,400

534

11.0%

200

(22)

(9.9%)

Note: Earnings forecasts are calculated based on information available at this point and may contain risks
and uncertainties. Actual earnings results could differ significantly from forecasts for various
reasons. The key factors that could affect earnings are economic conditions in the Company andGroup companies’ business areas, demand fluctuations, and foreign exchange fluctuations, among
other factors.

-8-(2) Overview of financial position in current fiscal year
The Group focuses on reducing interest-bearing debt and augmenting its shareholders’ equity to improve its financial
position, while also implementing various measures in its medium-term management plan aimed at improving thehealth and solidity of its management structure.
At the end of the consolidated fiscal year under review, total assets increased 25,646 million yen compared with theend of the previous consolidated fiscal year to 532,601 million yen due to an increase in inventories such as
merchandise and finished goods and other factors. Liabilities rose 11,843 million yen compared with the end of theprevious consolidated fiscal year to 311,694 million yen as a result of an increase in short-term borrowings and otherfactors. Total net assets rose 13,803 million yen compared with the end of the previous consolidated fiscal year to220,907 million yen due to an increase in retained earnings attributable to the posting of profit attributable to ownersof parent. The equity ratio rose from 37.6% at the end of the previous consolidated fiscal year to 38.1%.
Cash flows from operating activities
Cash provided by operating activities in the consolidated fiscal year under review amounted to 1,487 million yen.
This was because non-cash profit/loss items such as profit before income taxes and depreciation exceeded
expenditures for the payment of income taxes and other. Cash provided by operating activities fell 40,455 million yen
compared to the previous consolidated fiscal year, which this was largely due to an increase in inventories.
Cash flows from investing activities
Cash used in investing activities in the consolidated fiscal year under review totaled 18,021 million yen. This wasprimarily due to expenditures to purchase of property, plants and equipment. Cash used in investing activities was
down 7,653 million yen compared to the previous consolidated fiscal year, which was primarily due to a decrease in
expenditures to purchase of property, plants and equipment.
Cash flows from financing activities
Cash used in financing activities in the consolidated fiscal year under review amounted to 626 million yen. This wasprimarily due to expenditures for the repayments of long-term borrowings. Financing activities provided 8,194 million
yen in cash in the previous consolidated fiscal year, but this consolidated fiscal year financing activities used 626
million yen, which was primarily due to a decrease in proceeds from long-term borrowings.
As a result, cash and cash equivalents on a consolidated basis were down 16,031 million yen (26.2%) compared tothe end of the previous consolidated fiscal year, to 45,145 million yen.

-9-

Reference: Fluctuations in indicators related to cash flow
FY2019FY2020

FY2021

FY2022Equity ratio

39.0%

39.6%

37.6%

38.1%

Mark-to-market capitalratio (%)

31.3%

22.3%

27.0%

19.9%

Cash flow/interestbearing debt ratio

4.0

2.7

3.5

104.5

Interest coverage ratio

25.8

41.8

39.6

1.3

Notes: Equity ratio: Shareholders’ equity/Total assets
Mark-to-market capital ratio: Total market capitalization/Total assets
Cash flow/interest-bearing debt ratio: Interest-bearing debt/Operating cash flows
Interest coverage ratio: Operating cash flows/Interest payments* Indicators are calculated using financial data on a consolidated basis.
* Total market capitalization was calculated by multiplying the stock price at closing at the end of the
fiscal year by the number of outstanding shares (excluding treasury shares) at year-end.
* Cash flow from operating activities in the consolidated cash flow statement is used for the operating
cash flow figure. Interest-bearing debt represents all interest-bearing debt recorded on the
consolidated balance sheet. In addition, the interest payment recorded in the consolidated cash flow
statement is the figure used for interest payments.
(3) Basic policy regarding profit distribution and dividends for the fiscal year ended March 31, 2022 and fiscal
year ending March 31, 2023
The Group’s basic policy on profit distribution is that it will return profits to all shareholders, comprehensively taking
into account the maintenance of cash flow and a sound financial foundation for the medium to long term, while also
reinforcing its financial position and management foundation.
The Group decides on dividend amounts using a total dividend payout ratio, including the acquisition of treasury
stock, of 30%, as its indicator for profit returns.
In addition, as well as investments to expand business in growth areas and create demand and expand profitability infoundational business areas, the Group makes investments to strengthen its management foundation into the future,such as R&D, human resource development, and carbon neutrality, and strives to raise corporate value. We willcontinue to keep the D/E ratio below 1x. (The D/E ratio was 0.8x in the fiscal year ended in March 2022.)
Year-end dividends for the fiscal year ended in March 2022 will be an ordinary dividend of 45 yen per share. The
Group plans to pay an interim dividend of 40 yen and a year-end dividend of 45 yen in the fiscal year ending in March
2023, for an annual dividend of 85 yen (the dividend payout ratio based on consolidated earnings forecasts at thispoint is 37.6%).

-10-

2. Management policies(1) Company’s basic policy on management
The Company has revised the NLM Group Management Policy as shown below. The Company strives to raise
corporate value by utilizing the Group’s wide-ranging aluminum-related knowledge and diverse businesses, which
are its strengths, to the maximum extent, and also endeavors to solve various social issues through its businessactivities to contribute to the realization of a sustainable society. In our new management policy, we carry on with thespirit that has been at the root of our management policies thus far, while redefining the Company’s management
philosophy and objectives based on the material issues identified by the Group last year and the initiatives to addresseach of these issues. This reflects the diversifying needs of society and our customers as the social environmentchanges.
NLM Group Management Policy♦ Corporate Philosophy
Contribute to improving people's quality of life and environmental protection by continuing tocreate business, focused on aluminum.
♦Basic Policies
・ The Group will create healthy, safe workplaces, and achieve zero-accident operations.
・ The Group will continuously provide diverse value to customers by deepening the level ofcollaboration and coordination within and outside the Group.
・ The Group will work actively to achieve carbon neutrality, to help create a sustainable
society.
・ The Group will engage in fair and honest business operations, with respect for human rights
and an emphasis on ethics.
・ The Group will respect diverse values, and develop human resources from a long-term global
perspective.
(Revised: May 16, 2022)(2) Company’s medium- and long-term management strategy
The Group has established a three-year medium-term management plan whose first fiscal year will be in fiscal 2022
(hereinafter, 2022 Medium-term Plan), and devised basic policies as laid out below.
< Basic Policy 1: Provide products and businesses that contribute to the creation of social value >The Group aims to provide products and businesses throughout the supply chain lifecycle that satisfy customers’
needs and lead to the resolution of social issues, and from the perspective of strengthening the eco-friendly autorelated business and recycling business, we will consider rebuilding the Group’s collaborative system and reallocating
management resources, while also utilizing external resources as necessary. For example, in the recycling business,to achieve carbon neutrality, we will shape and implement our own aluminum resource cycle utilizing Group
infrastructure and offer low-carbon products so that we can provide the value that our customers and society desire.
< Basic Policy 2: Strengthen management foundation >Priority measures to strengthen the management foundation include ensuring the mental and physical safety of
employees and continuing to ensure compliance, while also promoting recycling as well as energy conservation andfuel changes to achieve carbon neutrality. In addition, we will carry out operation reforms utilizing digital technology,
while also pursuing initiatives in hiring, appointing employees, education and other areas as our HR strategy
supporting the sustainable improvements in corporate value and promoting diversity and inclusion.

-11-

We take very seriously the series of incidents related to the notice of the revocation of JIS certification at some of theGroup’s business sites since May 2021.
In June 2021, we established a Special Investigation Committee, which is pursuing a thorough investigation of thefacts and causes, but the Group has already taken steps to address issues that were already clear, without waiting for
the Committee’s investigation results.
Specifically, we are working to reinforce the Group’s quality oversight functions in the Company’s Central Product
Safety & Quality Assurance Division, revise the reporting standards when quality issues occur and reform thecommittee system in which Group companies’ quality assurance managers participate (Group Quality Committee).
In addition, we are making changes so that a whistleblowing system (hotline) for all Group employees is easier touse.
Reforming an organizational climate that produces and allows inappropriate conduct is a major issue, but we areworking to improve compliance awareness by redoubling our efforts thus far to provide information such as themessages from top management given to raise ethics, offer education in behavioral ethics by outside speakers, andhold compliance meetings in which all Group employees participate at the workplace level.
Including the above initiatives, the Group will devise bold measures to prevent reoccurrence and address these ingood faith. The results of the Special Investigative Committee’s investigation will be received with humility and wewill strive to regain the trust we have lost.
Countermeasures to address sediment in Amehata Dam have been taken based on the basic plan submitted to the
Ministry of Land, Infrastructure and Transportation in April 2020, and the emergency measures (construction of anembankment) and short-term plan (dirt removal plan for fiscal 2020-2021) were carried out in line with the plans. The
medium-term plan that began in fiscal 2022 (dirt removal plan for fiscal 2022-2024) will be steadily implemented
based on the specific removal plan established in cooperation with the related organizations, and going forward, we
will respond with sincerity in cooperation with the related organizations, with the safety of local residents as our mainpriority.
(3) Management indicators
In the 2022 Medium-term Plan, the Group will build a profit foundation that will be less susceptible to the external
environment and aim for a corporate structure that can secure profit in the 30-40 billion yen range on a stable basis.
FY2024, final yearof 2022 Mediumterm Plan
(Reference figure*)
Operating income
22.2 billion yen
20 billion yen
Over 30 billion yen* This figure indicates the Company’s approximation at this point, and is not a target that the Company aims
to meet.
FY2022(actual)FY2023(forecast)

The Group pays dividends in line with the basic policy regarding profit distribution outlined on page 7 of thesematerials.
FY2024, final year of2022 Medium-term
Plan
InterimYear-end
InterimYear-end
Annual reference
actualplan
forecast
forecast
figure*Dividends
40 yen45 yen40 yen45 yen
100 yen*This figure indicates the Company’s approximation at this point, and is not a target that the Company aims
to meet.
FY2022

FY2023

3. Basic approach to selection of accounting standards
The Group will prepare its consolidated financial statements based on Japanese standards in the near term in light ofcomparability between periods in consolidated financial statements and comparability between companies.

-12-

The Group will respond appropriately to the adoption of international accounting standards, taking into accountconditions in Japan and overseas.

-13-

【Attached documents】 Consolidated Financial Statements and Important Notes(1)Consolidated Balance Sheets(Millions of yen)
As of March 31, As of March 31,
2021
2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable – trade
Notes and accounts receivable – trade, and contract assets
Electronically recorded monetary claims – operating
Merchandise and finished goods
Work in progress
Raw material and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other intangible assets
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other assets
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-14-

61,229105,003‐
28,77027,394
18,424
19,776
10,570(385)
270,781

45,188‐
115,558
28,62039,45021,72928,21818,350(386)
296,727

159,141(100,022)
59,119305,565(256,058)
49,50737,786(31,552)
6,234
54,6909,555
179,105

160,950(101,628)
59,322306,064(258,196)
47,86837,836(31,987)
5,849
54,904
7,980
175,923

1,111
5,962
7,073

2,442
9,948
12,39030,241
11,8988,402(545)
49,996236,174
506,955

29,798
10,961
7,353(551)
47,561
235,354532,601

(Millions of yen)
As of March 31, As of March 31,
2021
2022

Liabilities

Current liabilities
Notes and accounts payable – trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for recall
Other current liabilities
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Provision for environmental measures
Other non-current liabilities
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedge
Revaluation reserve for land
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-15-

65,81555,020
7,648
3,327
‐
34,306
166,116

72,324
66,276
11,9694,264
1,098
34,611
190,542664
82,897
19,92924,634
5,611
133,735
299,851

734
76,427
18,776
18,253
6,962
121,152
311,694

46,52518,992
119,377(131)
184,763

46,525
19,107
129,465(130)
194,967

3,642
24
145
2,665
(527)
5,949
16,392
207,104
506,955

2,821
186
145
5,555
(585)
8,122
17,818220,907532,601

(2) Consolidated Statements of Income andConsolidated Statements of Comprehensive Income
Consolidated Statements of Income(Millions of yen)

FY ended
FY ended
March 31, 2021 March 31, 2022
(Apr. 1, 2020 - (Apr. 1, 2021 Mar. 31, 2021) Mar. 31, 2022)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating profit
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Rental income
Other
Total non-operating profit
Non-operating expenses
Interest expense
Rental expense
Expenses related to special investigation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of shares of subsidiaries and associates
Gain on step acquisitions
Gain on sale of non-current assets
Gain on contribution of securities to retirement benefit trust
Total extraordinary income
Extraordinary losses
Expense related to recall
Impairment loss
Expense for environmental measures
Total extraordinary losses
Profit before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-16-

432,568
342,499
90,06965,87524,194

486,579395,229
91,35069,152
22,198

84
309
623
700
2,200
3,916

80
472
1,663
659
2,359
5,233

1,033
657
‐
2,390
4,080
24,030

1,089
647
606
2,161
4,503
22,928

‐
‐
‐
‐
‐

1,962
1,526
912
854
5,254

‐
‐
16,20016,2007,830
6,691(3,958)
2,733
5,097
1,731
3,366

1,481
1,402
‐
2,883
25,299
7,656
268
7,924
17,375616
16,759

Consolidated Statements of Comprehensive Income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans

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

Total other comprehensive income
Comprehensive income
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-17-(Millions of yen)
FY ended
FY ended
March 31, 2021 March 31, 2022
(Apr. 1, 2020 - (Apr. 1, 2021 Mar. 31, 2021) Mar. 31, 2022)
5,097

17,375

1,429
144
1,817
1,155
135
4,680
9,777
7,587
2,190

(869)
163
2,995
(21)
431
2,699
20,074
18,932
1,142

(3) Consolidated Statement of changes in shareholders' equity
Fiscal year ended March 31, 2021 (April 1, 2020 – March 31, 2021)(Millions of yen)

Shareholders' equity
Share capital
Balance at beginning of current period

Capital surplus

46,525Retained earnings

18,983

Total shareholders'equityTreasury shares

119,108(69)

184,547

Cumulative effects of changes inaccounting policies－
46,525

Restated balance

18,983

119,108(69)

184,547

Changes during period
Dividends of surplus(3,097)

Profit attributable to owners of parent

3,366(3,097)
3,366

Purchase of treasury shares
Disposal of treasury shares

0

(62)

(62)

0

0

Change in scope of consolidation－

Change in ownership interest of parent
due to transactions with noncontrolling interests

99Net changes in items other thanshareholders' equity－

Total changes during period
Balance at end of current period

－

9

269

(62)

216

46,52518,992

119,377(131)

184,763

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities

Balance at beginning of current
period2,230

Deferred
gains orlosses onhedges(120)

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated othercomprehensive income

Noncontrollinginterests

145

1,084

(1,611)

1,728

14,923Cumulative effects of changes
in accounting policies
Restated balance

Total net
assets201,198

－
2,230

(120)

145

1,084

(1,611)

1,728

14,923201,198

Changes during period
Dividends of surplus(3,097)

Profit attributable to owners ofparent3,366

Purchase of treasury shares(62)

Disposal of treasury shares

0Change in scope of consolidation－

Change in ownership interestof parent due to transactions
with non-controlling interests

9

Net changes in items otherthan shareholders' equity

1,412

144

－

1,581

1,084

4,221

1,469

5,690

Total changes during period

1,412

144

－

1,581

1,084

4,221

1,469

5,906

Balance at end of current period

3,642

24

145

2,665

(527)

5,949

16,392

207,104-18-

Fiscal year ended March 31, 2022 (April 1, 2021 – March 31, 2022)(Millions of yen)

Shareholders' equity
Share capital
Balance at beginning of current period

Capital surplus

46,525Retained earnings

18,992

119,377

Cumulative effects of changes inaccounting policies

Total shareholders'equityTreasury shares(131)

184,76351
46,525

Restated balance

18,992

51

119,428(131)

184,814

Changes during period
Dividends of surplus(6,501)

Profit attributable to owners of parent

16,759(6,501)
16,759Purchase of treasury shares
Disposal of treasury shares

11

Change in scope of consolidation(80)

Change in ownership interest of parent
due to transactions with noncontrolling interests

184

(23)

(23)

24

35

(221)

(301)
184

Net changes in items other thanshareholders' equity－

Total changes during period
Balance at end of current period－

115

10,0371

10,153

46,525

19,107

129,465(130)

194,967

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities

Balance at beginning of current
period3,642

Deferred
gains orlosses onhedges24

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated othercomprehensive income

Noncontrollinginterests

145

2,665

(527)

5,949

16,392

Cumulative effects of changes
in accounting policies
Restated balance

Total net
assets207,104
51

3,642

24

145

2,665

(527)

5,949

16,392

207,155

Changes during period
Dividends of surplus(6,501)

Profit attributable to owners ofparent

16,759Purchase of treasury shares(23)

Disposal of treasury shares

35

Change in scope of consolidation(301)

Change in ownership interestof parent due to transactions
with non-controlling interests

184

Net changes in items otherthan shareholders' equity

(821)

162

－

2,890

(58)

2,173

1,426

3,599

Total changes during period

(821)

－

2,890

(58)

2,173

1,426

13,752

Balance at end of current period

2,821

162
186

145

5,555

(585)

8,122

17,818220,907-19-

(4) Consolidated Statements of Cash Flows(Millions of yen)
FY ended
FY ended
March 31, 2021 March 31, 2022
(Apr. 1, 2020 - (Apr. 1, 2021 Mar. 31, 2021) Mar. 31, 2022)

Cash flows from operating activities

Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of shares of subsidiaries and associate
Loss (gain) on step acquisitions
Loss (gain) on sale of non-current assets
Loss (gain) on contribution of securities to retirement benefit trust
Expenses related to recall
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for environmental measures
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using equity method
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid

7,830
19,157
444
‐
‐
‐
‐
‐
‐
277
388
14,025
(393)
1,033
(623)
(290)
1,706
673
2,863
47,090675(1,059)(4,764)41,942

25,29920,063554(1,962)(1,526)
(912)
(854)
1,481
1,402
(12)
444
(6,381)(552)
1,089(1,663)(8,763)(22,642)
4,007
(868)
8,204
704
(1,120)(6,301)
1,487

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets(24,246)
127(2,438)‐‐883(25,674)(18,648)
1,168(2,202)
2,616(1,149)194(18,021)2,014
21,605(10,503)(3,122)(703)(13)

10,7796,143(8,469)(6,501)
(953)
(668)

(1,084)
8,194
418
24,88036,296‐
61,176

(957)
(626)
1,014
(16,146)
61,176
115
45,145

Net cash provided by operating activities
Cash flows from investing activities

Proceeds from sale of shares of subsidiaries resulting in change in scope of consolidation

Purchase of shares of subsidiaries resulting in change in scope of consolidation
Other

Net cash used in investing activities
Cash flows from financing activities

Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Dividends paid to non-controlling interests
Payments from changes in ownership interests in subsidiaries that do not
result in change in scope of consolidation
Other

Net cash provided by (used in) 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 the year
Increase in cash and cash equivalents from newly consolidated subsidiary
Cash and cash equivalents at end of the year-20-(5) Notes regarding the consolidated financial statements(Notes on premise of going concern)
Not applicable(Changes in accounting policies)(Application of accounting standard for revenue recognition, etc.)
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,
2020, hereinafter “Accounting Standard for Revenue Recognition”) and related implementation guidance from the
beginning of the current consolidated fiscal year. Accordingly, revenue is recognized at a point in time when control
of promised goods or services is transferred to the customers, at the amount that is expected to be received in exchange
for the goods or services. The main changes resulting from this application are as follows.
Product sales
With respect to a portion of domestic sales of products for which revenue was previously recognized at the time of
shipment, the accounting method has changed to recognize revenue at the time the product is accepted by thecustomer.
Construction contracts
For construction contracts, previously, the percentage of completion method was applied to construction contracts forwhich the outcome was deemed certain with respect to the progress portion, and the completed contract method wasapplied to other construction contracts. This has changed to revenue recognition over a certain period of time as
performance obligation is satisfied, except for construction contracts that are of small amount and very short period.
In estimating the rate of progress in fulfillment of performance obligation, actual cost incurred as a percentage of total
estimated cost is calculated (input method) where a reasonable measurement of the outcome of performance obligation
can be made. For construction contracts that are of small amount and very short period, revenue is recognized at apoint in time when performance obligations have been completely satisfied.
Agent transactions
For transactions in which the Company’s role is to serve as an agent in the sale of products to customers, previously,
the total amount of consideration received from customers was recognized as revenue. This has changed torecognizing revenue as the net amount calculated by deducting the amount paid to third parties from the total amountof consideration received.
The Accounting Standard for Revenue Recognition, etc. is applied from the balance at the beginning of the firstquarter of the current consolidated accounting period, pursuant to the transitional treatment stipulated in the proviso
of paragraph 84 of the Accounting Standard for Revenue Recognition, in accordance with which the cumulative effectassuming that the New Accounting Policy was applied retrospectively prior to the beginning of the current
consolidated fiscal year was added to or deducted from the balance of retained earnings at the beginning of the current
consolidated fiscal year. However, with respect to the contracts where nearly all of the revenue amounts had beenrecognized prior to the beginning of the current consolidated fiscal year based on the accounting treatment previously
used, the accounting method prescribed in paragraph 86 of the Accounting Standard for Revenue Recognition wasapplied and no retrospective application of the New Accounting Policy was conducted. In addition, by applying themethod stipulated in item (1) of the supplementary provision of paragraph 86 of the Accounting Standard for Revenue
Recognition, for any modifications made to contracts before the beginning of the current consolidated fiscal year,
accounting treatment was conducted based on the contract terms after reflecting all the modifications in the contracts,
and the cumulative effect was added to or deducted from the balance of retained earnings at the beginning of thecurrent consolidated fiscal year.
The impact of the foregoing on net sales, operating profit, ordinary profit, and profit before income taxes for thecurrent consolidated fiscal year, was insignificant. The beginning balance of retained earnings increased by 51 million
yen.
Due to application of the Accounting Standard for Revenue Recognition, etc., “Notes and accounts receivable –trade,” which were included in “Current assets” in the consolidated balance sheet for the previous consolidated fiscal-21-

year, are included in “Notes and accounts receivable – trade and contract assets” from the current consolidated fiscal
year. In accordance with the transitional treatment stipulated in Article 89-2 of the Accounting Standard for Revenue
Recognition, figures for the previous consolidated fiscal year have not been restated using the new presentation
method.
(Application of accounting standard, etc. relating to fair value measurement)
The Company applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4, 2019,
hereinafter “Accounting Standard for Fair Value Measurement”) and related implementation guidance from the
beginning of the current consolidated fiscal year. Accordingly, pursuant to the transitional measures prescribed inparagraph 19 of the Accounting Standard for Fair Value Measurement and in paragraph 44-2 of the “AccountingStandard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019), the new accounting policy as set forth in
the Accounting Standard for Fair Value Measurement, etc., will be applied prospectively. There is no impact of thisapplication on the quarterly consolidated financial statements.

-22-

(Segment information, etc.)
a. Segment information
1. Summary of reportable segments
The Group’s reportable segments are those units for which discrete financial information is available and that areperiodically evaluated so that the Board of Directors can decide on the allocation of management resources andassess performance.
The Group primarily carries out business related to the four areas of aluminum ingot and chemicals, aluminum
sheet and extrusions, fabricated products and other, and aluminum foil, powder and paste; these products cover awide range of areas related to aluminum.
The aluminum ingot and chemicals segment sells aluminum, aluminum hydroxide, various chemicals andaluminum ingot and alloys. The aluminum sheet and extrusions segment sells aluminum sheet and aluminum
extruded products. The fabricated products and other segment sells transport-related products, and aluminum
fabricated products such as freezer and refrigeration panels and electronic materials. The aluminum foil, powder
and paste segment sells foil and powder products.
2. Method of calculating net sales, profit (loss), assets and other items by reportable segment
The accounting methods for reported business segments are generally the same as those for statements in the “Basisof Presenting the Consolidated Financial Statements.” Profit by reportable segment is based on operating profit.
Intersegment sales and transfers are based on actual market prices.
3. Information on net sales, profit (loss), assets and other items by reporting segment
The Fiscal Year Ended March 31, 2021 (April 1, 2020, to March 31, 2021)(Millions of yen)
Reporting segments
Aluminum Aluminum Fabricated Aluminum
ingot andsheet and products and foil, powder,chemicals extrusions
otherand paste
Net sales
Net sales to external
91,18197,850
customers
Intersegment sales
32,281
21,471or transfers
123,462
119,321
Total
9,614
5,950
Segment profit (loss)
125,202113,503
Segment assets
Other items
3,946
5,732
Depreciation
Amortization of－－
goodwill－－
Impairment
Investment in entities
4,173
2,161
accounted for using
equity method
Increases in property,
6,613
7,906
plant and equipment,
and intangible assets
Notes:
1. The adjustments are shown below.

Adjustments*1

Total

Consolidated
profit/loss
posted*2

157,297

86,240432,568－

432,568

12,340506

66,598(66,598)－

169,637
8,892

86,7463,311

499,166
27,767(66,598)(3,573)

432,568
24,194

170,445

101,316

510,466(3,511)

506,955

4,585

4,531

18,794363

19,157

444

－

444

－

444

－

－

－

－

－

3,421

4,099

13,854－

13,854

5,974

4,976

25,469464

25,933-23-

(1) The 3,573 million yen negative adjustment to segment profit represents corporate expenses and mainlycomprises expenses related to General Affairs, HR, Accounting, and other head office administration
departments of the Company and Nippon Light Metal Company, Ltd.
(2) The 3,511 million yen negative adjustment to segment profit represents 44,725 million yen in theelimination of intersegment assets and 41,214 million yen in corporate assets that are not allowed toreportable segments. Corporate assets primarily refer to excess funds (cash and securities) and assets
related to administration departments of the Company and Nippon Light Metal Company, Ltd.
(3) Adjustment of 363 million yen in depreciation represents amortization of corporate assets that are not
attributed to a specific segment.
(4) The 464 million yen adjustment in increase in property, plant and equipment and intangible assets mainly
consists of an increase in corporate assets that are not attributed to a specific segment.
2. Segment profit is adjusted with operating profit on the consolidated statements of income.
The Fiscal Year Ended March 31, 2022 (April 1, 2021, to March 31, 2022)
Reporting segments
Aluminum Aluminum Fabricated Aluminum
ingot andsheet and products and foil, powder,chemicals extrusions
otherand paste(Millions of yen)

Total

Adjustments*1

Consolidate
d profit/loss
posted*2

Net sales
Net sales to external
127,633
113,876
153,415
91,655486,579
486,579－
customers
Intersegment sales
52,63024,826
17,268391
95,115(95,115)－or transfers
180,263
138,702
170,683
92,046581,694(95,115)
486,579
Total
13,021
7,518
3,776
1,570
25,885(3,687)22,198Segment profit (loss)
155,692
123,293
166,376
109,465554,826(22,225)532,601
Segment assets
Other items
4,323
5,816
4,716
4,724
19,579484
20,063
Depreciation
Amortization of
444
110
554
554
－
－
－
goodwill
1,014
370
18
1,402
1,402
－
－
Impairment
Investment in entities
4,744
2,892
3,637
3,800
15,073
15,073－
accounted for using
equity method
Increases in property,
5,264
8,296
5,146
4,149
22,855367
23,222plant and equipment,
and intangible assets
Notes:
1. The adjustments are shown below.
(1) The 3,687 million yen negative adjustment to segment profit represents corporate expenses and mainlycomprises expenses related to General Affairs, HR, Accounting, and other head office administration
departments of the Company and Nippon Light Metal Company, Ltd.
(2) The 22,225 million yen negative adjustment to segment profit represents 52,754 million yen in theelimination of intersegment assets and 30,529 million yen in corporate assets that are not allowed toreportable segments. Corporate assets primarily refer to excess funds (cash and securities) and assets
related to administration departments of the Company and Nippon Light Metal Company, Ltd.
(3) Adjustment of 484 million yen in depreciation represents amortization of corporate assets that are not
attributed to a specific segment.
(4) The 367 million yen adjustment in increase in property, plant and equipment and intangible assets mainly
consists of an increase in corporate assets that are not attributed to a specific segment.
2. Segment profit is adjusted with operating profit on the consolidated statements of income.

-24-

b. Related information
The Fiscal Year Ended March 31, 2021 (April 1, 2020, to March 31, 2021)
1. Information by product and service
Information by product and service is omitted here as segmentation is equivalent to that used for reportablesegments.
2. Information by region(1) Net sales
Japan(Millions of yen)Other349,207

Total

83,361

432,568

Note: Net sales are classified by country or region based on the customer’s location.
(2) Property, plant and equipment
Japan(Millions of yen)Other160,861

Total

18,244

179,105

3. Information by major customer
Information by major customer is omitted since there were no sales from a single customer accounting for 10% ormore of consolidated net sales.
The Fiscal Year Ended March 31, 2022 (April 1, 2021, to March 31, 2022)
1. Information by product and service
Information by product and service is omitted here as segmentation is equivalent to that used for reportablesegments.
2. Information by region(1) Net sales
Japan(Millions of yen)Other382,778

Total

103,801

486,579

Note: Net sales are classified by country or region based on the customer’s location.
(2) Property, plant and equipment
Japan
158,447(Millions of yen)

Other

Total

17,476

175,923

3. Information by major customer
Information by major customer is omitted since there were no sales from a single customer accounting for 10% ormore of consolidated net sales.

(Information per share)

Net assets per share

Fiscal Year Ended March 31, 2021 Fiscal Year Ended March 31, 2022
(April 1, 2020, to March 31, 2021) (April 1, 2021, to March 31, 2022)¥ 3,081.54¥3,281.17-25-

Net profit per share
Net profit per share (diluted)(Notes)1. Net profit per share (diluted) is not presented since there is no dilutive share.
2. The basis for calculating net profit per share is as follows.

¥54.37¥270.77－－

Fiscal Year Ended March 31, 2021
(April 1, 2020, to March 31, 2021)

Fiscal Year Ended March 31, 2022
(April 1, 2021, to March 31, 2022)

Net profit per share
Profit attributable to owners of parent(Millions of yen)

3,366

16,759Amount not attributable to ordinary shareholders(Millions of yen)－－

Profit attributable to owners of parent related tocommon stock (Millions of yen)

3,366

16,759Average number of common stock outstanding
during the term (shares)

61,910,894

61,894,906(Significant subsequent events)
No applicable information-26-