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 Non-Consolidated Financial Results
for the Nine Months Ended September 30, 2021
(Based on Japanese GAAP)
November 12, 2021
Company name:AIRTECH JAPAN,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

6291
President

URL

https://www.airtech.co.jp
Shinya Hirasawa

Inquiries:
Vice President
Scheduled date to file Quarterly Securities Report:

Naoki Watanabe
November 12, 2021

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

Holding of quarterly financial results meeting:

Yes

TEL

03-3872-9192(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the nine months ended September 30, 2021 (from January 1, 2021 to September 30, 2021)(1) Non-consolidated operating results (cumulative)

Percentages indicate year-on-year changes

Net sales
Nine months ended September 30, 2021
Nine months ended September 30, 2020

Millions of yen
11,366
8,368

Operating profit

Ordinary profit

Profit% Millions of yen% Millions of yen% Millions of yen%
35.8
1,809 114.5
2,003 102.7
1,428 103.6
6.0
843 128.0
988
92.8
701
91.6

Earnings per share

Diluted earnings per share

Yen
138.04
71.43

Nine months ended September 30, 2021
Nine months ended September 30, 2020

Yen
137.4470.98(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
19,05918,829

As of September 30, 2021
As of December 31, 2020

Equity ratio

Millions of yen
13,318
12,164

Net assets per share%
69.7
64.4

Yen
1,280.69
1,174.55

2. Cash dividends
Annual dividends per share

Year ended December 31, 2020
Year ending December 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
0.00
0.00

Yen––

Yen
33.00

Yen
33.00

50.00

50.00

Year ending December 31, 2021 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
14,100Operating profit% Millions of yen
12.9
1,930

Ordinary profit% Millions of yen
36.5
2,140

1Profit% Millions of yen
37.0
1,480

Earnings per share%
30.3

Yen
143.05

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
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 September 30, 2021

10,448,200 shares As of December 31, 2020

10,403,500 shares

Number of treasury shares at the end of the period
As of September 30, 2021

72,709 shares As of December 31, 2020

75,699 sharesAverage number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended September 30, 2021

10,345,963 shares Nine months ended September 30, 2020

29,821,582 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of December 31, 2020

As of September 30, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

6,520,039
4,748,840

7,754,811
3,432,212

Electronically recorded monetary claims - operating
Securities

1,206,374
4521,054,512
489

Merchandise and finished goods
Work in process

840,165
870,751

962,370733,624

Raw materials and supplies
Other

387,41324,505468,156
28,077

Allowance for doubtful accounts(8,947)(6,336)

14,589,596

14,427,919

2,055,014

2,226,684

Other

1,509,743

1,617,938

Total property, plant and equipment

3,564,757

3,844,622

Intangible assets

115,026

92,961

Investments and other assets
Other

587,002710,892

Total current assets
Non-current assets
Property, plant and equipment
Land

Allowance for doubtful accounts(26,824)(16,824)

Total investments and other assets

560,177

694,068

Total non-current assets

4,239,962

4,631,652

18,829,558

19,059,571

1,320,088
2,327,072

1,097,962
1,706,794

Short-term borrowings
Current portion of long-term borrowings

300,000
44,268300,000
74,256

Current portion of bonds payable
Income taxes payable–
407,141

100,000
414,129

Provision for product warranties
Provision for bonuses

51,242
108,5228,569
290,650

Provision for loss on order received
Other4,109
1,116,346

6,135
810,480

Total current liabilities

5,678,790

4,808,977

Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

Non-current liabilities
Bonds payable
Long-term borrowings
Provision for retirement benefits

100,000–

163,035
701,519

242,349
669,124

Other

21,672

20,514

Total non-current liabilities

986,227

931,987

6,665,018

5,740,965

Total liabilities3

(Thousands of yen)
As of December 31, 2020

As of September 30, 2021

Net assets
Shareholders' equity
Share capital

2,056,919

2,083,047

Capital surplus
Retained earnings

2,098,251
8,014,697

2,125,665
9,102,052

Treasury shares(49,841)(47,880)

12,120,026

13,262,884

Valuation difference on available-for-sale securities

10,45324,915

Total valuation and translation adjustments

10,45324,915

Total shareholders' equity
Valuation and translation adjustments

Share acquisition rights
Total net assets
Total liabilities and net assets

4

34,06030,806

12,164,540

13,318,606

18,829,558

19,059,571

Non-consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended

Nine months ended

September 30, 2020

September 30, 2021

Net sales
Cost of sales

8,368,020
6,129,806

11,366,515
7,974,492

Gross profit

2,238,213

3,392,022

301,082

495,436

Remuneration for directors (and other officers)
Salaries

85,526396,61160,603405,098

Provision of allowance for doubtful accounts
Provision for bonuses(16,490)
75,850(11,635)
79,365Retirement benefit expenses
Provision for product warranties

25,52932,95625,804(42,673)

Other493,457

570,022

1,394,523

1,582,022

843,6901,809,999

Selling, general and administrative expenses
Freight and packing costs

Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income

399

91

Dividend income
Other

167,570
9,149

158,045
42,910Total non-operating income

177,119

201,048

2,023

2,112

Share issuance costs
Foreign exchange losses

12,5748,897

39–

Foreign withholding tax
Other

9,116
175

4,828
981

Total non-operating expenses

32,789

7,962

Ordinary profit

988,020

2,003,086

Profit before income taxes

988,020

2,003,086

Income taxes - current

386,425

613,930

Income taxes - deferred(99,997)(39,016)

Total income taxes

286,427

574,913

Profit701,593

1,428,172

Non-operating expenses
Interest expenses

5