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 Six Months Ended September 30, 2020
(Based on Japanese GAAP)
November 12, 2020
Company name:
COPRO-HOLDINGS. Co., Ltd.
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

7059
URL https://www.copro-h.co.jp/
Chief Executive Office
Kosuke Kiyokawa

Inquiries:

Executive Director,Director ofAdministrative Division

Masahiko Saito

TEL

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

November 12, 2020
December 9, 2020

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

Yes
Yes

+81-52-589-3066(for analysts and institutional investors)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2020 (from April 1, 2020 to September 30, 2020)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2020
7,271
17.8
531 (20.7)
534 (20.0)
404
(7.3)
Six months ended September 30, 2019
6,172–
670–
667–
436
–
Earnings per share

Diluted earnings per share

Yen
85.83
92.72

Six months ended September 30, 2020
Six months ended September 30, 2019

Yen
84.13
91.02

(2) Consolidated financial position
Total assets
As of September 30, 2020
As of March 31, 2020

Net assets

Millions of yen
7,857
8,030

Equity ratio

Millions of yen
5,709
5,487%
72.7
68.3

2. Cash dividends
Annual dividends per share

Year ended March 31, 2020
Year ending March 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00
20.00

Yen–

Yen
40.00

TotalYen
60.00

Year ending March 31, 2021 (Forecast)
–
55.00
75.00
（Note）Breakdown of year-end dividend (forecast) for the fiscal year ending March 31, 2021Ordinary dividend 50yen
Commemorative dividend 5yen(Commemorate the change to the First Section of the Tokyo Stock Exchange and the First Section of the Nagoya Stock Exchange)
3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
15,432
17.6
1,793
12.6
1,795
13.3
1,22112.7259.03
1

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):
New companies: 1 company（Company name） COPRO GLOBALS PTE. LTD.
(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes

No

(3) 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:
NoChanges in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2020

5,000,000 shares As of March 31, 2020

5,000,000 shares

283,267 shares As of March 31, 2020

286,000 shares

Number of treasury shares at the end of the period
As of September 30, 2020

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2020

4,715,247 shares Six months ended September 30, 201924,710,000 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2020

As of September 30, 2020

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Other
Allowance for doubtful accounts

4,831,545

4,751,639

1,856,412
210,153

1,855,746
178,702

(438)

(440)

6,897,672

6,785,647

Property, plant and equipment
Buildings and structures, net

270,645

368,587

Construction in progress
Other, net

40,66560,480–81,777

Total property, plant and equipment

371,790

450,365

Total current assets
Non-current assets

Intangible assets
Leased assets

28,20617,991

Other

84,861

87,947

Total intangible assets

113,067

105,938

130,309517,681

72,084443,221

Investments and other assets
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets

647,990

515,306

1,132,849

1,071,610

8,030,522

7,857,258

Liabilities
Current liabilities
Current portion of bonds payable

160,000150,000

Lease obligations
Accounts payable - other

26,2901,145,106

25,4601,155,603

Income taxes payable
Accrued consumption taxes

310,079
428,522132,055
289,833

Provision for bonuses
Asset retirement obligations

120,910
7,608

55,808–Other

181,170

230,652

2,379,689

2,039,414

Bonds payable
Lease obligations

70,000
16,242–
7,788

Asset retirement obligations

76,623

100,824

Total current liabilities
Non-current liabilities

Total non-current liabilities
Total liabilities

3

162,866

108,6122,542,555

2,148,027

(Thousands of yen)
As of March 31, 2020

As of September 30, 2020

Net assets
Shareholders' equity
Share capital

30,00030,000Capital surplus
Retained earnings

1,172,858
4,286,538

1,177,942
4,502,704(1,430)(1,624)

5,487,966

5,709,022

Foreign currency translation adjustment–

208

Total accumulated other comprehensive income–

208

Total net assets

5,487,966

5,709,231

Total liabilities and net assets

8,030,522

7,857,258

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Six months ended
September 30, 2019

Six months ended
September 30, 2020

Net sales

6,172,718

7,271,258

Cost of sales

4,125,951

5,255,775

Gross profit

2,046,766

2,015,482

Selling, general and administrative expenses

1,376,471

1,483,725

670,295

531,757

Operating profit
Non-operating income
Interest income

20

22

Rental income
Settlement received

570
30

570
3,762

Other3155

Total non-operating income652

4,411

1,465
1,435

483
547

375
108

375
433

Non-operating expenses
Interest expenses
Guarantee commission
Depreciation
Other
Total non-operating expenses

3,384

1,838

667,562

534,329

Surrender value of insurance policies

17,80090,676

Total extraordinary income

17,80090,676

Loss on retirement of non-current assets

13,003

4,394

Total extraordinary losses

13,003

4,394

Profit before income taxes

672,359

620,611

Income taxes - current

227,716

157,660

Income taxes - deferred

7,924

58,224

Total income taxes

235,641

215,885

Profit436,718

404,725

Profit attributable to owners of parent

436,718

404,725

Ordinary profit
Extraordinary income

Extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Thousands of yen)Six months ended
September 30, 2019
ProfitSix months ended
September 30, 2020

436,718

404,725

Other comprehensive income
Foreign currency translation adjustment–

208

Total other comprehensive income–

208

436,718

404,933

436,718

404,933

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent6Consolidated statements of cash flows(Thousands of yen)Six months ended
September 30, 2019

Six months ended
September 30, 2020

Cash flows from operating activities
Profit before income taxes
Depreciation

672,359
40,304620,61145,158

Surrender value of insurance policies
Loss on retirement of non-current assets(17,800)
13,003(90,676)
4,394

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses

24(7,332)

1(65,101)Interest income
Interest expenses

(20)
1,465

(22)
483

Decrease (increase) in trade receivables
Decrease (increase) in other current assets(98,764)
27,397665
21,241

Increase (decrease) in accounts payable - otherIncrease (decrease) in other current liabilities(136,920)(132,685)

76,181(89,206)

Other, net

9,169

(371)

Subtotal

370,200

523,358

Interest and dividends received

20

22Interest paid
Income taxes paid

(1,481)(221,415)(482)(335,685)

Net cash provided by (used in) operating activities

147,324

187,212

Cash flows from investing activities
Payments into time deposits(6,000)–––(119,233)(39,193)

Other, net

9,936

172,398

Net cash provided by (used in) investing activities

3,936

13,971(12,884)(122,000)(13,629)(80,000)

––

(208)
755

Dividends paid

(197,382)(188,388)

Net cash provided by (used in) financing activities(332,266)(281,471)–208

Net increase (decrease) in cash and cash equivalents(181,006)(80,078)

Cash and cash equivalents at beginning of period

4,699,090

4,795,089

Cash and cash equivalents at end of period

4,518,084

4,715,011

Purchase of property, plant and equipmentPurchase of intangible assets

Cash flows from financing activities
Repayments of lease obligations
Redemption of bonds
Purchase of treasury shares
Proceeds from exercise of employee share options

Effect of exchange rate change on cash and cash equivalents

7