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 Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 10, 2022
Company name:
YAMAZEN CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

8051
URL
President, CEO

https://www.yamazen.co.jp/Yuji NAGAO

Inquiries:Manager, IR & PR Dept.
Scheduled date to file Quarterly Securities Report:

Hayato HIRATA
August 10, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

06-6534-3003(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2022
Three months ended June 30, 2021

Millions of yen126,863
116,569

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
8.8
3,400(2.3)
3,534
0.7
2,263
(8.8)
–
3,480
–
3,509
–
2,482
–

Earnings per share

Diluted earnings per share

Yen
25.48
27.15

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen
23.39
25.51

(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022

Net assets

Millions of yen
282,509282,654

Equity ratio

Millions of yen
115,269
113,367

Net assets per share%
40.5
39.9

Yen
1,289.11
1,268.98

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
10.00

Yen–

Yen
25.00

Yen
35.00

20.00

–

20.00

40.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
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
Six months ending
250,000
4.8
7,300(2.5)
7,300
(2.2)
5,000 (10.9)
56.28
September 30, 2022
Full year
530,000
5.6
16,000(6.6)
16,000(6.4)
11,000(8.5)
123.81

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

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:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

95,305,435 shares As of March 31, 2022

95,305,435 shares

Number of treasury shares at the end of the period
As of June 30, 2022

6,461,874 shares As of March 31, 2022

6,461,874 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

88,843,561 shares Three months ended June 30, 2021

291,464,250 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022As of June 30, 2022

AssetsCurrent assets
Cash and deposits
Notes receivable - trade70,401
14,89774,92815,027

Accounts receivable - trade
Electronically recorded monetary claims - operating

78,794
15,90370,931
17,881

Securities
Merchandise and finished goods

12,00036,81911,00039,738

Other
Allowance for doubtful accounts

7,530
(411)

6,270(355)

235,935

235,422

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

3,847
116

4,059
117

Tools, furniture and fixtures, net
Land

870
3,696

914
3,730

Leased assets, net
Other, net3,355
977

3,238
1,291

Total property, plant and equipment

12,864

13,351Intangible assets
Investments and other assets

11,024

11,528Investment securities
Distressed receivables

16,33672

15,54380

Retirement benefit asset
Deferred tax assets

4,460
335

4,586
374

Other
Allowance for doubtful accounts

1,715
(132)

1,723
(140)

Total investments and other assets

22,78822,16846,67647,047

Bond issuance costs

42

39

Total deferred assets

4239

282,654282,509

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

Total non-current assets
Deferred assets

Total assets3

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade69,11864,739

Electronically recorded obligations - operating
Short-term borrowings

56,771
29

61,68929

Lease liabilities
Income taxes payable

539
2,828

521
796

Contract liabilities
Provision for bonuses

9,592
3,495

9,197
1,909

Provision for voluntary recall of goods
Other

32
6,525

32
7,483

148,933

146,399

10,04010,037Long-term borrowings
Lease liabilities

1063,965

99
3,834

Deferred tax liabilities
Retirement benefit liability

4,209
266

4,646
288

Other

1,764

1,934

Total current liabilities
Non-current liabilities
Convertible-bond-type bonds with share acquisition rights

Total non-current liabilities

20,353

20,840169,286

167,240

Share capital
Capital surplus

7,909
7,561

7,909
7,561

Retained earnings
Treasury shares

92,545(6,957)

92,583(6,957)

Total shareholders' equity

101,058

101,096

7,922

7,358

Deferred gains or losses on hedges
Foreign currency translation adjustment199
3,725

476
5,757

Remeasurements of defined benefit plans

(165)

(161)

11,682

13,432

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

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

4626

740

113,367

115,269

282,654282,509

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2021

June 30, 2022

Net sales
Cost of sales

116,569
99,498

126,863
108,784

Gross profit

17,07018,079Selling, general and administrative expenses

13,59014,678Operating profit

3,480

3,400

Interest income
Dividend income

1880

14116

Subsidy income
Foreign exchange gains

48–

1131

Non-operating income

Other

2330

Total non-operating income

169

205

Interest expenses
Foreign exchange losses

7057

64–

Other

127

Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income

14072

3,509

3,534

113

08–

122

000

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

00

3,631

3,534

Income taxes - current

431

708

Income taxes - deferred

703

523

Total income taxes

1,135

1,232

Profit

2,496

2,302

Profit before income taxes

Profit attributable to non-controlling interests
Profit attributable to owners of parent

51338

2,482

2,263

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2021

June 30, 2022
2,496

2,302

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

(680)
(36)

(563)
277

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

(30)
55

2,107
4

Total other comprehensive income

(691)

1,824

1,804

4,126

1,791

4,013

13113

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

6