Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

April 30, 2021

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021
(Under Japanese GAAP)
Company name:
Konishi Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4956
URL:
http://www.bond.co.jp/
Representative:
Keiichi Oyama, Representative Director and President
Inquiries:
Shozo Arisawa, Director and Senior Managing Executive Officer
TEL:+81-6-6228-2877
Scheduled date of annual general meeting of shareholders:June 22, 2021
Scheduled date to commence dividend payments:
June 23, 2021
Scheduled date to file annual securities report:
June 22, 2021
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (May be cancelled due to future
developments.)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 toMarch 31, 2021)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended
March 31, 2021
March 31, 2020

Millions of yen% Millions of yen

133,736
135,180

Note: Comprehensive income

(1.1)
0.8

Reference:

7,285
7,115

% Millions of yen

2.4
1.2

7,428
7,248

% Millions of yen

2.5
0.9

4,934
4,585

%

7.6
4.1

¥7,618 million [118.1%]¥3,492 million [(2.5)%]

Diluted earnings
per share

Return on equity

Ordinary profit/
total assets

Operating profit/
net sales

Yen

%

%

%

7.9
7.8

6.8
6.8

5.4
5.3

Yen

137.58126.47

Profit attributable toowners of parent

Ordinary profit

For the fiscal year ended March 31, 2021:
For the fiscal year ended March 31, 2020:

Basic earnings
per share
Fiscal year ended
March 31, 2021
March 31, 2020

Operating profit––

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2021:
For the fiscal year ended March 31, 2020:¥10 million¥19 million

(2) Consolidated financial position
Total assets

Net assets

Equity-to-asset ratio

Net assets per share

As ofMarch 31, 2021
March 31, 2020

Millions of yen

Millions of yen%

Yen

113,944
106,11368,831
63,36056.9
56.6

1,820.68
1,658.28

Reference:

As of March 31, 2021:
As of March 31, 2020:

Equity¥64,826 million¥60,070 million(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2021
March 31, 2020

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen

Millions of yen

Millions of yen

6,765
6,285

(2,690)(3,924)(3,032)(1,833)23,721
22,812

2. Cash dividends
Annual dividends

Fiscal year ended
March 31, 2020
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022
(Forecast)First
quarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Yen

Yen

Yen

Yen

Total

Total cash
dividends(Total)Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen

%

%

–

13.00

–

23.00

36.00

1,304

28.5

2.2

–

18.00

–

22.00

40.00

1,426

29.1

2.3

–

20.00

–

20.00

40.00

–

Note: Breakdown of fiscal year-end dividends for the fiscal year ended March 31, 2020:
Ordinary dividend ¥13.00, 150th anniversary commemorative dividend ¥10.00

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 toMarch 31, 2022)
Net sales

Six months ending
September 30, 2021
Fiscal year ending
March 31, 2022

(Percentages indicate year-on-year changes.)
Basic
Profit attributable toOrdinary profit
earnings perowners of parent
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

50,500

1.9

2,650

1.3

2,780

1.2

1,720

0.6

47.95

109,500

2.3

7,200

1.7

7,500

1.0

4,940

0.2

137.72

Note: Since Konishi Co., Ltd. (the “Company”) will apply the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022, the above consolidated earnings
forecasts are the amounts after the application of the said accounting standard, etc., and the rate of increase/decrease
from the previous fiscal year and the same quarter of the previous year are calculated on the assumption that the said
accounting standard, etc. was applied in the fiscal year ended March 31, 2021.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): Yes
Included: 1 company (PT. Konishi Lemindo Indonesia)(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations:None(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021

40,707,440 shares

As of March 31, 2020

40,707,440 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2021

5,102,082 shares

As of March 31, 2020

4,482,594 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2021

35,868,582 sharesFiscal year ended March 31, 2020

36,259,369 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 toMarch 31, 2021)(1) Non-consolidated operating results
Net sales
Fiscal year ended
March 31, 2021
March 31, 2020

Operating profit

Millions of yen% Millions of yen

88,43993,539(5.5)
2.5

Basic earnings
per share
Fiscal year ended
March 31, 2021
March 31, 2020

(Percentages indicate year-on-year changes.)
Ordinary profit% Millions of yen

4,033
4,277

(5.7)
12.1

4,685
4,897

Profit% Millions of yen

(4.3)
9.2

3,722
3,560

%

4.6
13.1

Diluted earnings
per share
Yen

Yen

103.7798.18––(2) Non-consolidated financial position
Total assets

Net assets

Equity-to-asset ratio

Net assets per share

As ofMarch 31, 2021
March 31, 2020

Millions of yen

Millions of yen%

Yen

93,447
91,37051,61649,45555.2
54.1

1,449.69
1,365.23

Reference:

As of March 31, 2021:
As of March 31, 2020:

Equity¥51,616 million¥49,455 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.

* Proper use of earnings forecasts, and other special matters Forward-looking statements, including the earnings forecasts stated in these materials, are based on
information currently available to the Company and certain assumptions deemed reasonable. Results
may differ materially from the earnings forecasts due to various factors. For the assumptions used as
the basis for the earnings forecasts and special remarks regarding the use of the earnings forecasts,
please refer to “1. Overview of operating results, etc. (4) Future outlook” on page 4 of the financial
results report (Attached Material).
 The Company plans to hold a presentation meeting for institutional investors and analysts on May 18,
2021 (Tuesday), but it may be cancelled due to future developments. In that case, it will be announced
on the Company’s website.

Konishi Co., Ltd. (4956)

Attached Material
Index
1. Overview of operating results, etc. ........................................................................................................... 2(1) Overview of operating results for the fiscal year under review.......................................................... 2(2) Overview of financial position for the fiscal year under review ........................................................ 3(3) Review of cash flow position for the fiscal year under review .......................................................... 3(4) Future outlook .................................................................................................................................... 4(5) Basic policy on profit distribution and dividends for fiscal 2021 and fiscal 2022 ............................. 5
2. Basic concept regarding selection of accounting standards ...................................................................... 5
3. Consolidated financial statements and significant notes thereto............................................................... 6(1) Consolidated balance sheet ................................................................................................................ 6(2) Consolidated statement of income and consolidated statement of comprehensive income ............... 8(3) Consolidated statement of changes in equity ................................................................................... 10(4) Consolidated statement of cash flows .............................................................................................. 12(5) Notes on premise of going concern .................................................................................................. 14(6) Changes in significant accounting policies for preparation of consolidated financial statements .... 14(7) Notes to consolidated financial statements ....................................................................................... 14
Segment information, etc. ................................................................................................................ 14
Per share information ....................................................................................................................... 17
Omission of disclosure ..................................................................................................................... 17
Significant events after reporting period .......................................................................................... 17
4. Other ....................................................................................................................................................... 19
Changes in officers (Effective June 22, 2021).................................................................................. 19
Reference: Supplementary Information on Financial Results for the Fiscal Year Ended March 31, 2021 ... 20-1-

Konishi Co., Ltd. (4956)

1. Overview of operating results, etc.
(1) Overview of operating results for the fiscal year under review
During the fiscal year ended March 31, 2021 (fiscal year under review), the Japanese economy
remained in a severe situation overall, with socioeconomic activities significantly restricted due to the
spread of the novel coronavirus disease (COVID-19) infection. Although there were signs of economic
recovery with the gradual resumption of economic activities following the lifting of the state of
emergency declaration issued in April 2020, due to the emergency declaration again in 11 prefectures inJanuary 2021 following the reemergence of COVID-19 infections since December 2020, and with thelack of prospects for the disease subsiding, the future of the economy continues to be uncertain.
Regarding industries in which the Company and its subsidiaries (the “Group”) are engaged, the housing
industry had seen a weakening in the number of new housing starts, but that number is now steadily
recovering. In the civil engineering and construction industry, demand for redevelopment of urban
areas, repair and improvement works of buildings, and demand for maintenance and mending of
infrastructure such as roads and railroads remained strong. In the automotive industry, there was arecovery trend from the second quarter of the fiscal year under review.
As a result, the Group’s operating results for the fiscal year under review is as follows. Net sales
decreased 1.1% year on year to 133,736 million yen, operating profit increased 2.4% year on year to7,285 million yen, ordinary profit increased 2.5% year on year to 7,428 million yen, and profit
attributable to owners of parent increased 7.6% year on year to 4,934 million yen.
Results by segment are as follows.
(i) Bond (synthetic adhesive)
In the general household field, sales through convenience stores decreased, but sales through home
improvement stores increased. In addition, sales of adhesives for interior work and adhesives forinterior building materials in the housing-related field, adhesives such as water-based adhesives foruse in paper-related application in the industrial material field, all decreased, but began to recoverfrom the third quarter of the fiscal year under review. Elastic adhesives for use in such applications
as automotive and electrical components recovered to the same level as the previous fiscal year.
As a result of the above, net sales decreased 6.9% year on year to 46,508 million yen and operating
profit decreased 5.8% year on year to 4,079 million yen.
(ii) Civil Engineering and Construction
In the construction field, sales of materials used in building repair and in methods to prevent
detachment from exterior walls, and sales of sealing materials for construction decreased as eachwork project has been suspended due to the impact of COVID-19, but began to recover from thethird quarter of the fiscal year under review.
In the civil engineering field, however, sales increased due to the favorable performance of
methods for surface protection and for preventing detachment, and continuous fiber sheet
reinforcement methods. In the Civil Engineering and Construction Business, sales increased due tothe continued steady performance of repair, improvement, and reinforcement works in theinfrastructure, particularly for public works, and used building markets.
As a result of the above, net sales increased 11.7% year on year to 34,444 million yen andoperating profit increased 16.2% year on year to 2,375 million yen.
(iii) Chemicals
In the chemical engineering field, sales of ethanol-related products increased, despite sluggish salesof resin materials.
In the automotive field, sales of products used in automotive electrical components decreased, but
sales increased with the recovering demand, and the decrease narrowed from the third quarter of-2-

Konishi Co., Ltd. (4956)

the fiscal year under review. Sales decreased in the electronic and electrical field, and coating
materials field, but began to slowly recover.
Sales at MARUYASU & CO., LTD. increased due to the recovery and strong performance of
products for use in capacitors.
As a result of the above, net sales decreased 2.9% year on year to 52,531 million yen but operating
profit increased 14.6% year on year to 634 million yen.
(iv) OtherThe Other segment represents the Real Estate Rental Business. Net sales decreased 7.0% year on
year to 252 million yen and operating profit decreased 13.3% year on year to 189 million yen.
(2) Overview of financial position for the fiscal year under review
Total assets as of March 31, 2021 increased by 7,830 million yen from the previous fiscal year-end to113,944 million yen.
(i) Assets
Current assets increased by 2,629 million yen from the previous fiscal year-end to 76,133 million
yen mainly due to an increase of 1,507 million yen in notes and accounts receivable - trade, anincrease of 849 million yen in cash and deposits, and an increase of 725 million yen inelectronically recorded monetary claims - operating, despite a decrease of 295 million yen insecurities.
Non-current assets increased by 5,201 million yen from the previous fiscal year-end to 37,811
million yen mainly due to an increase of 2,076 million yen in investment securities of investments
and other assets, and an increase of 1,371 million yen in buildings and structures of property, plantand equipment and an increase of 939 million yen in retirement benefit asset of investments andother assets.
(ii) Liabilities
Current liabilities increased by 1,665 million yen from the previous fiscal year-end to 39,511
million yen mainly due to an increase of 1,329 million yen in notes and accounts payable - trade,
and an increase of 365 million yen in income taxes payable despite a decrease of 616 million yen inelectronically recorded obligations - operating.
Non-current liabilities increased by 693 million yen from the previous fiscal year-end to 5,601
million yen mainly due to an increase of 893 million yen in deferred tax liabilities, despite adecrease of 389 million yen in retirement benefit liability(iii) Net assets
Net assets increased by 5,470 million yen from the previous fiscal year-end to 68,831 million yen
mainly due to an increase of 3,458 million yen in retained earnings, an increase of 1,250 million
yen in valuation difference in available-for-sale securities and an increase of 1,058 million yen inremeasurements of defined benefit plans.
(3) Review of cash flow position for the fiscal year under review
Cash and cash equivalents (hereinafter “cash”) increased by 909 million yen during the fiscal year
under review (359 million yen increase year on year). This comprised cash flows provided by operating
activities of 6,765 million yen (up 479 million yen year on year), cash flows used in investing activitiesof 2,690 million yen (down 1,233 million yen year on year), and cash flows used in financing activitiesof 3,032 million yen (up 1,198 million yen year on year).
As a result, the balance of cash as of March 31, 2021 amounted to 23,721 million yen, an increase of
909 million yen year on year.

-3-

Konishi Co., Ltd. (4956)(i) Cash flows from operating activities
Net cash provided by operating activities was 6,765 million yen (up 479 million yen year on year).
This was mainly due to profit before income taxes of 7,825 million yen, depreciation of 1,810
million yen, and an increase in trade payables of 1,137 million yen, despite income taxes paid of
2,341 million yen, and an increase in trades receivables of 2,095 million yen.
(ii) Cash flows from investing activities
Net cash used in investing activities was 2,690 million yen (down 1,233 million yen year on year).
This was mainly due to purchase of property, plant and equipment of 3,152 million yen, andpayments into time deposits of 1,324 million yen, despite proceeds from withdrawal of time
deposits of 1,705 million yen.
(iii) Cash flows from financing activities
Net cash used in financing activities was 3,032 million yen (up 1,198 million yen year on year).
This was mainly due to dividends paid of 1,477 million yen, and purchase of treasury shares of 971
million yen.
Trends in the various cash flow indicators are shown in the table below.
Fiscal year ended
March 31, 2017

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Equity ratio (%)

55.9

53.7

53.2

56.6

56.9

Market value equity ratio (%)

52.9

58.7

53.6

48.9

56.1

Interest-bearing debt to cash
flow ratio (yearly)

0.1

0.2

0.2

0.1

0.1

Interest coverage ratio (times)

361.5

415.6

326.3

446.6

513.7

Equity ratio:
equity / total assets
Market value equity ratio:
market capitalization / total assets
Interest-bearing debt to cash flow ratio: interest-bearing debt / cash flow
Interest coverage ratio:
cash flow / interest payments
Note 1: All indicators are calculated using consolidated financial data.
Note 2: Market capitalization is calculated by multiplying the share price at the end of the fiscal year by the
number of issued shares at the end of the fiscal year (excluding treasury shares).
Note 3: Cash flow means cash flows from operating activities.
Note 4: Interest-bearing debt includes the total amount of borrowings on the consolidated balance sheets.
(4) Future outlook
The Japanese economy remains in a severe situation due to the effects of COVID-19, but it isbeginning to show signs of recovery. Although capital investment and corporate earnings are still weakin some areas due to the effects COVID-19, there are signs of recovery overall. Going forward, theeconomy is expected to continue to improve due to the effects of various policies and improvements inoverseas economies, as measures are taken to prevent the spread of the disease after the declaration of astate of emergency was lifted. However, the future of the economy remains uncertain due to thecontinued reemergence of COVID-19 and the lack of prospects for when it will subside.
Under such circumstances, in the Bond Business, the number of housing starts is expected to remain
generally level, with rental housing and condominiums remaining sluggish. In addition, demand forrenovation is expected to remain steady.
In the Civil Engineering and Construction Business, public and private construction projects are
expected to be sluggish in the first half of the year, especially in the Tokyo metropolitan area, but are
expected to recover and remain strong in the second half of the year. Furthermore, repair andrenovation work in the stock market for buildings and condominiums, as well as in the infrastructure
market, is expected to remain strong.

-4-

Konishi Co., Ltd. (4956)

In the Chemicals Business, growth is expected to continue in advanced technology fields due to factors
such as the strengthening and expanding of information and communications functions, the growing
use of electronics in vehicles, and an increase in demand for robotics against the backdrop of labor
shortages.
Based on these circumstances, the Group will aim to create sustainable profits and expand business bystrengthening cooperation within the Konishi Group, optimizing the allocation of management andresearch resources by revising our business portfolio, strengthening our core businesses and exploringand developing markets in areas surrounding these, and expanding into Asian markets.
In our consolidated earnings forecasts for the fiscal year ending March 31, 2022, we forecast that net
sales will increase 2.3% year on year to 109,500 million yen, operating profit will increase 1.7% year
on year to 7,200 million yen, ordinary profit will increase 1.0% year on year to 7,500 million yen, andprofit attributable to owners of parent will increase 0.2% year on year to 4,940 million yen. The figuresin these forecasts are after the application of the “Accounting Standard for Revenue Recognition,” etc.,
and the percentage change from the same period of the previous year is calculated on the assumptionthat the said accounting standard, etc., is applied in the fiscal year ending March 31, 2021.
(5) Basic policy on profit distribution and dividends for fiscal 2021 and fiscal 2022
As a basic policy on profit distribution, the Company believes that returning profits to shareholders is avital issue facing company management. Our policy is to strive to strengthen the Company’s businessbase by enhancing financial structure through revenue-focused business activities and to pay asustainable dividend based on considerations such as each fiscal year’s business performance. We will
also strive to improve business performance through the effective use of internal reserves, such as
investment in automation and labor saving equipment that can improve productivity, investment instrengthening logistics systems, research and development of environmentally friendly and highly
functional products, investment in reducing environmental impact, and the expansion of business areas
through M&A.
For the fiscal year under review (ended March 31, 2021), the Company forecasts a year-end dividendof 22 yen per share. In addition to a midterm dividend of 18 yen already paid, this will result in anannual dividend of 40 yen. Regarding the dividends for the following fiscal year (ending March 31,2022), the Company forecasts midterm and year-end dividends of 20 yen each, amounting to an annual
dividend of 40 yen.

2. Basic concept regarding selection of accounting standards
The Group has adopted Japanese accounting standards in order to ensure comparability with other Japanesecompanies in the same industries.

-5-

Konishi Co., Ltd. (4956)

3. Consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Costs on construction contracts in progress
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, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Guarantee deposits
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-6-

As of March 31, 2020

As of March 31, 2021

23,027
37,14023,876
38,648

3,862

4,588

295
6,502
205
1,054
343
1,114
(43)
73,504

–
6,254
248
1,039
256
1,269
(48)
76,133

22,956(11,865)
11,091
15,420(13,134)
2,286
4,068
(3,438)
630
8,418
299
(119)
180
758
23,365
1,050

24,987(12,524)
12,462
16,218(13,677)
2,540
4,320
(3,731)
588
9,195
310
(141)
168
856
25,812
991

5,929
28
377
806
300
768
(18)
8,193
32,609106,113

8,005
20
374
1,745
233
645
(18)
11,00737,811
113,944

Konishi Co., Ltd. (4956)(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Lease obligations
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Lease obligations
Long-term guarantee deposits
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Other
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-salesecurities
Deferred gains or losses on hedges
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-7-

As of March 31, 2020

As of March 31, 2021

28,195
3,733
95
216
22
1,251
1,079

29,525
3,116
48
81
23
1,617
1,108

106

113

3,142
37,845

3,876
39,511

172
2,842
244
211
1,225
210
4,907
42,753

159
2,890
440
1,105
836
169
5,601
45,113

4,603
4,513
54,184(4,599)58,701

4,603
4,526
57,642(5,541)
61,230

1,392

2,643

(0)
16
(38)
1,369
3,289
63,360106,113

(0)
(66)
1,019
3,595
4,005
68,831
113,944

Konishi Co., Ltd. (4956)(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income(Millions of yen)
Fiscal year ended
March 31, 2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Sales discounts
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Loss on sale of investment securities
Other
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-8-

Fiscal year ended
March 31, 2021

135,180
112,196
22,984
15,8687,115

133,736
111,004
22,732
15,446
7,285

14
204

11
195

19

10

249
487

234
452

14
206
53
80
354
7,248

13
199
–
97
310
7,428

40
114
0
155

254
175
–
430

132
1
13
147
7,256
2,432
(10)
2,422
4,834
249
4,585

29
4
–
33
7,825
2,715
(108)
2,607
5,217
283
4,934

Konishi Co., Ltd. (4956)

Consolidated statement of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2020
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, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-9-

Fiscal year ended
March 31, 2021

4,834

5,217

(966)
(0)
(38)
(311)

1,454
0
(122)
1,058

(24)

10

(1,342)
3,492

2,400
7,618

3,334

7,160

158

457

Konishi Co., Ltd. (4956)(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2020
(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity

4,603

4,499

50,541(4,548)55,095

Changes during period
Dividends of surplus

(942)

(942)

Profit attributable toowners of parent

4,585

4,585

Purchase of treasury shares
Disposal of treasury shares

13

(76)

(76)

25

39

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

–

13

3,642

(50)

3,605

4,603

4,513

54,184(4,599)58,701

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities
Balance at beginning of period

Deferred gains orlosses on hedges

Foreign currencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total accumulated
othercomprehensive
income

2,271

(0)

77

272

2,621

(878)

(0)

(61)

(311)

(1,251)

Total changes during period

(878)

(0)

(61)

(311)

(1,251)

Balance at end of period

1,392

(0)

16

(38)

1,369

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury shares
Disposal of treasury shares
Net changes in items otherthan shareholders’ equity

Balance at beginning of period

Non-controllinginterests

Total net assets

3,196

60,913

Changes during period
Dividends of surplus(942)

Profit attributable toowners of parent

4,585

Purchase of treasury shares(76)

Disposal of treasury shares

39

Net changes in items otherthan shareholders’ equity

92(1,158)

Total changes during period

92

2,446

Balance at end of period

3,289

63,360- 10 -

Konishi Co., Ltd. (4956)

Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity

4,603

4,513

54,184(4,599)58,701

Changes during period
Dividends of surplus(1,476)(1,476)

Profit attributable toowners of parent

4,934

4,934

Purchase of treasury shares
Disposal of treasury shares

13

(971)

(971)

29

42

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

–

13

3,458

(941)

2,529

4,603

4,526

57,642(5,541)

61,230

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities
Balance at beginning of period

Deferred gains orlosses on hedges

Foreign currencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total accumulated
othercomprehensive
income

1,392

(0)

16

(38)

1,369

1,250

0

(83)

1,058

2,225

Total changes during period

1,250

0

(83)

1,058

2,225

Balance at end of period

2,643

(0)

(66)

1,019

3,595

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury shares
Disposal of treasury shares
Net changes in items otherthan shareholders’ equity

Balance at beginning of period

Non-controllinginterests

Total net assets

3,289

63,360Changes during period
Dividends of surplus(1,476)

Profit attributable toowners of parent

4,934

Purchase of treasury shares(971)

Disposal of treasury shares

42

Net changes in items otherthan shareholders’ equity

715

2,941

Total changes during period

715

5,470

Balance at end of period

4,005

68,831- 11 -

Konishi Co., Ltd. (4956)(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
March 31, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of investment securities
Loss (gain) on disposal of property, plant andequipment
Loss (gain) on sale of property, plant and equipment
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
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
Increase (decrease) in other current liabilities
Increase (decrease) in other non-current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of securities
Proceeds from sale and redemption of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Payments for acquisition of businesses
Proceeds from cancellation of insurance funds
Other, net
Net cash provided by (used in) investing activities- 12 -

Fiscal year ended
March 31, 2021

7,256
1,862
189
(113)

7,825
1,810
204
(170)

21

4

(40)

(250)

(6)

4

61

28

(16)

6

9
50
(218)
14

61
133
(207)
13

(19)

(10)

2,696
(514)
(3,405)
341
(73)
494
8,590
220
(14)
(2,511)
6,285(2,095)
718
1,137
(482)
(8)
189
8,912
207
(13)
(2,341)
6,765

(705)
712
(141)
–
(4,266)
446
(166)
(69)
195

(1,324)
1,705–
293(3,152)
304
(75)
(64)
337

–

(12)

29

–

–
34
5
(3,924)

(764)
52
10
(2,690)Konishi Co., Ltd. (4956)(Millions of yen)
Fiscal year ended
March 31, 2020
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of lease obligations
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Proceeds from share issuance to non-controllingshareholders
Other, net
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 period
Cash and cash equivalents at end of period- 13 -

Fiscal year ended
March 31, 2021

(16)
(23)
(708)
(76)
(942)
(65)

(471)
(25)
(405)
(971)
(1,477)
(62)

–

320

(0)
(1,833)60(3,032)

21

(132)

549
22,263
22,812909
22,812
23,721

Konishi Co., Ltd. (4956)(5) Notes on premise of going concern
Not applicable.
(6) Changes in significant accounting policies for preparation of consolidated financial statements
Changes in presentation
Consolidated statement of income“Compensation expenses” in “Non-operating expenses,” which was presented separately in theprevious fiscal year, are included in “Other” of “Non-operating expenses” in the fiscal year underreview, as the amount is 10% or less of the total amount of non-operating expenses. In order to reflect
this change in presentation, the consolidated statement of income for the previous fiscal year have been
reclassified.
As a result, in the consolidated statement of income for the previous fiscal year, the 35 million yen in“Compensation expenses” that had been shown in “Non-operating expenses” and the 44 million yen in
the “Other” have been reclassified as 80 million yen in “Other.”“Loss on sale of investment securities” which were included in “Other” of “Extraordinary losses” in theprevious fiscal year are presented separately from the fiscal year under review, as they exceeded 10%of the total amount of extraordinary losses. To reflect the changes to presentation, the consolidated
financial statements of the previous fiscal year have been reclassified.
As a result, in the consolidated statement of income of the previous fiscal year, the 14 million yen that
had been shown in the “Other” of “Extraordinary losses” has been reclassified as 1 million yen in “Losson sale of investment securities” and 13 million yen in “Other.”(7) Notes to consolidated financial statements
Segment information, etc.
Segment information
1. Description of reportable segments
The reportable segments of the Company are constituent units of the Company for which separate
financial information is available. The Board of Directors periodically examines these segments todecide on the allocation of management resources and evaluate business performance.
The Company basically consists of three business divisions, the Bond Business, Civil Engineeringand Construction Business, and Chemicals Business, with each business formulating acomprehensive strategy that includes Japan and overseas, and pursuing business activities.
Accordingly, the Company has the following three reportable segments: Bond, Civil Engineeringand Construction, and Chemicals.
“Bond” covers the manufacture and sale of industrial adhesives, adhesives for general household
use, adhesives for construction, sealing materials for use in housing construction, adhesives forwall coverings, waxes, and adhesive tapes. “Civil Engineering and Construction” covers the
manufacture and sale of adhesives, repair materials, and sealing materials for use in civilengineering and construction works, and the undertaking of contracts for repair, improvement, andreinforcement works in the infrastructure and used building markets. “Chemicals” covers the saleof industrial chemicals, synthetic resins, resin mold products, materials for electronic components,
and thin film materials.
2. Method of calculating net sales, profit or loss, and other items by reportable segment
The accounting method for the reported business segments is in accordance with the accounting
policies used to prepare the consolidated financial statements.
Values for profits shown in reportable segments are based on operating profit.
- 14 -

Konishi Co., Ltd. (4956)

Intersegment internal revenues and transfers are based on market prices.
Please note the Company does not allocate assets and liabilities to business segment.
3. Disclosure of net sales, profit or loss, and other items by reportable segment
Fiscal year ended March 31, 2020
(Millions of yen)
Reportable segments
Total

Total

Adjustments

54,084

134,909271

135,180–

135,180

365

110

1,278

84

1,363

(1,363)–50,781

31,21054,194

136,187356

136,544(1,363)

135,180

4,331

2,044

553

6,929

219

7,148

(32)

7,115

1,394

363

34

1,792

52

1,844

18

1,862

7

182

–

189

–

189

–

189

Bond

Chemicals

49,97930,844801

Total
Segment profit

Net sales
Revenues from externalcustomers
Intersegment sales andtransfers

Other items
Depreciation
Amortization of
goodwill

Amount inconsolidated
financialstatements(Note) 3

Other(Note) 1

Civil
EngineeringandConstruction(Note) 2

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the real estate
rental business.
2. Details of adjustments are as follows:(1) Adjustments of segment profit represent eliminations for intersegment transactions.
(2) Adjustments of depreciation represent depreciation unallocated to the reportable segments.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.

Fiscal year ended March 31, 2021
(Millions of yen)
Reportable segments
Other(Note) 1

Amount inconsolidated
financialstatements(Note) 3

Bond

Civil
EngineeringandConstruction

Chemicals

Total

46,50834,44452,531

133,483

252

133,736–

133,736

658

103

107

868

84

953

(953)

–

Total

47,16634,54752,639134,352

337

134,689(953)

133,736

Segment profit

4,079

2,375

634

7,089

189

7,279

6

7,285

1,282

421

39

1,742

49

1,792

18

1,810

7

196

–

204

–

204

–

204

Net sales
Revenues from externalcustomers
Intersegment sales andtransfers

Other items
Depreciation
Amortization of
goodwill

Total

Adjustments(Note) 2

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the real estate
rental business.
2. Details of adjustments are as follows:(1) Adjustments of segment profit represent eliminations for intersegment transactions.
(2) Adjustments of depreciation represent depreciation unallocated to the reportable segments.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.

- 15 -

Konishi Co., Ltd. (4956)

Disclosure of impairment loss on non-current assets by reportable segment
Fiscal year ended March 31, 2020
Not applicable.
Fiscal year ended March 31, 2021
Not applicable.
Amortization and unamortized balance of goodwill by reportable segment
Fiscal year ended March 31, 2020
(Millions of yen)
Reportable segment
Civil
EngineeringandConstruction

Bond

Corporateandelimination

Other
Chemicals

Total

Total

Amortization
during period

7

182

–

189

–

–

189

Balance at endof period

7

418

–

426

–

–

426

Fiscal year ended March 31, 2021
(Millions of yen)
Reportable segment
Civil
EngineeringandConstruction

Bond

Corporateandelimination

Other
Chemicals

Total

Total

Amortization
during period

7

196

–

204

–

–

204

Balance at endof period

74

325

–

399

–

–

399

Information about gain on bargain purchase by reportable segment
Fiscal year ended March 31, 2020
Not applicable.
Fiscal year ended March 31, 2021
Not applicable.

- 16 -

Konishi Co., Ltd. (4956)

Per share information(Yen)
Fiscal year ended March 31, 2020
Net assets per share
Basic earnings per share

Fiscal year ended March 31, 2021

1,658.28

1,820.68

126.47137.58Notes: 1. Diluted earnings per share is not stated because there were no potential shares.
2. Basis for calculation is as follows:(i) Net assets per share
As of March 31, 2020

As of March 31, 2021

Total net assets(Millions of yen)

63,36068,831

Net assets attributable to commonshares(Millions of yen)

60,07064,826

3,289

4,005

Number of issued common shares(Thousand shares)

40,70740,707

Number of treasury common shares(Thousand shares)

4,482

5,102

Number of common shares used for
calculating net assets per share(Thousand shares)

36,22435,605

Fiscal year ended March 31, 2020

Fiscal year ended March 31, 2021

Profit attributable to owners of parent(Millions of yen)

4,585

4,934

Amounts not attributable to commonshareholders(Millions of yen)––

Profit attributable to owners of parent
related to common shares(Millions of yen)

4,585

4,934

Average number of outstanding
common shares during period(Thousand shares)

36,25935,868Main details of differences (Millionsof yen)Non-controlling interests(ii) Basic earnings per share

Omission of disclosure
Notes other than the above are omitted because their disclosure is considered unnecessary in financial
results reports.
Significant events after reporting period
In the fiscal year under review, the Group’s business segments were “Bond”, “Civil Engineering andConstruction,” and “Chemicals.” However, from the following fiscal year, the business of adhesives,
repair materials, and sealants used in the civil engineering and construction field, which were included
in “Civil Engineering and Construction,” will be transferred to “Bond,” and the business segments will
be reorganized as “Bond,” “Chemicals,” and “Construction.”- 17 -

Konishi Co., Ltd. (4956)

This is due to the change in management structure to further enhance the construction contracting
business for repair, renovation and reinforcement of social infrastructure and building stock markets
from April 2021 onwards.
We are currently calculating the information on the amount of sales, profit or loss, assets and otheritems by reportable segment for the fiscal year under review based on the segment classification after
the change.

- 18 -

Konishi Co., Ltd. (4956)

4. Other
Changes in officers (Effective June 22, 2021)
The Company plans to shift to a company with an Audit and Supervisory Committee, subject to approvalat the 96th Annual General Meeting of Shareholders to be held on June 22, 2021. For details, please referto the “Notice of Transition to a Company with Audit and Supervisory Committee” announced on
February 19, 2021.
Candidates for Directors and Audit and Supervisory Committee Members in connection with thetransition to a company with an Audit and Supervisory Committee are as follows.
1. New candidates for Director (excluding Directors who are Audit and Supervisory Committee
Member)Takashi Yokota (current Representative Director and Chairman)
Keiichi Oyama (current Representative Director and President)
Satoru Kusakabe (current Director)
Shozo Arisawa (current Director)
Hirofumi Matsubata (current Director)
Toshihiko Iwao (current Director)
Keiko Takase (current outside Director)
Makoto Kimura (current outside Director)
Note: Keiko Takase and Makoto Kimura are candidates for outside director.
2. New candidates for Director who is Audit and Supervisory Committee Member
Shinya Enomoto (current full-time Audit & Supervisory Board Member)
Kenji Kawada (current outside Audit & Supervisory Board Member)Motoyuki Nakata (current outside Audit & Supervisory Board Member)
Yoshiki Yamada (current outside Audit & Supervisory Board Member)
Note: Kenji Kawada, Motoyuki Nakata, and Yoshiki Yamada are candidates for outside director.
3. Retiring Director
Kouichirou Inoue
2. Retiring Audit & Supervisory Board Members
Shinya Enomoto
Kenji Kawada
Motoyuki Nakata
Yoshiki Yamada- 19 -

Konishi Co., Ltd. (4956)

Reference: Supplementary Information on Financial Results for the Fiscal Year Ended March 31, 2021
1. Business performance by segment(Millions of yen)

Civil Engineering andConstruction

Other
Adjustments
Total

Fiscal year ended
March 31, 2021

Full year

Full year

Net sales

Bond

Chemicals

Fiscal year ended
March 31, 2020

49,979Changes(%)
46,508(6.9)%(5.8)%

Operating profit

4,331

4,079

Net sales

30,84434,444

11.7%

Operating profit

2,044

2,375

16.2%

Net sales

54,08452,531(2.9)%

Operating profit

553

634

14.6%

Net sales

271

252

(7.0)%

Operating profit

219

189

(13.3)%–––Net sales
Operating profit
Net sales

(32)

6

–

135,180

133,736(1.1)%

7,115

7,285

2,4%

Operating profit

In the fiscal year under review, the Group’s business segments were “Bond”, “Civil Engineering andConstruction,” and “Chemicals. However, from the following fiscal year, the business of adhesives, repair
materials, and sealants used in the civil engineering and construction field, which were included in “Civil
Engineering and Construction,” will be transferred to “Bond,” and the business segments will be reorganized
as “Bond,” “Chemicals,” and “Construction.”
This is due to the change in management structure to further enhance the construction contracting businessfor repair, renovation and reinforcement of social infrastructure and building stock markets.
The Company is currently calculating the information for the business performance and earnings forecasts
by segment for the newly classified segments, and plans to report that information in the presentation material
for the financial results. (The aforementioned material is scheduled to be posted on the Company’s website
on May 18, 2021.)
2. Indicators(Millions of yen)
Fiscal year
ended March
31, 2021
Full year
Capital investment Consolidated
Depreciation

Consolidated

Fiscal year ending March 31, 2022 (forecast)
Full year

Changes(amount)

Changes
(%)

3,747

8,295

4,547

121.3%

1,810

2,214

403

22.3%

Research andConsolidated
1,661
1,760
99
6.0%
development
Note 1: Figures are rounded down to the nearest 1 million yen.
Note 2: Changes (amount and %) are presented in comparison with the same period of the previous fiscal year.

- 20 -