Financial Results
Briefing for Q3
Year Ending March 2022
The 98th period：Cumulative Third Quarter(Apr. 1st, 2021- Dec. 30th, 2021)

February 2, 2022

Table of Contents

１． Financial Results for Q3

２． Full Year Forecast for FY2021
Caution in handling this document
Future forecasts, including this document, were judged according to the current information. Actual financial
results might be considerably different from the forecast mentioned here depending on the Japanese orinternational economic situation, business trends related to our company, and any risk or indefinite factors
involved in fluctuation of exchange rates.

2/17

1-1 Q3 Consolidated Results
Business performance exceeded the same period of the previous year,and profit reached a record high（100 million yen, ％）Sales
Operating Income
Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

FY2020

FY2021Q3 Cumulative Result

Q3 Cumulative Result

Gain&Loss% Change

1,200+120＋11.1

77+28＋56.8

6.5%

+1.9P

100+41

8.4%

+3.0P

74+31

1,080
49

*１Record High

4.6%

58

Record High

5.4%

YoY rate－＋70.9－

Quarterly net income attributable tothe parent company shareholders

42

Quarterly Net Income margin

3.9%

6.2%

+2.3P

－

Average exchange rate（U.S. dollars）¥105.7¥110.9+¥5.2－Record High＋73.4

* 1 Revenue recognition accounting standards have been applied since 2021. The amount of impact on sales is as follows.
The impact on profits is minor.Sales increased by 500 million yen due to the collective recognition of mold cost collection,and decreased by 3.3 billion yen due to the offset display of sales of customer-received products and cost of sales.

3/17

1-2 Q3 Causes of Fluctuation in Consolidated Sales
Increased sales volume by following customer production fluctuations
unit: 100 million yen
Increasedsales volume+120

Selling price△13

Official quotation

Applying

Exchangeof steel

Revenue recognition

conversion△6accounting standards
Exchange gain

△27+6

1,200+40

1,080

FY2020Q3 cumulative

Sales ＋1２ billion yen

FY2021Q3 cumulative

4/17

1-3 Q3 Causes of Fluctuation in Consolidated Operating Income
Achieved record high profits through sales recovery and cost improvement
Increased

Increased Depreciaton

sales volume(excluding dies)+48△16unit: 100 million yen

Selling price△13Exchange
IncreasedExpenses△1049

FY2020Q3 cumulative

Cost

gain

improvement

Others+177+6

Increasedlabor cost+21△9Operating Income ＋２.８ billion yen

FY2021Q3 cumulative

5/17

1-4 Q3 Consolidated Business Segments
Increased sales and profits for stamping & molding and valves（100 million yen,％）
Sales

Stamping & Molding

20/Q3

21/Q3

Cumulative
ResultCumulative
Result755(The impact of application ofrevenue recognition)

829*１

Operating IncomeYoY rate

(The impact of application ofrevenue recognition)

Operating Income Ratio

323%Change

Cumulative
ResultCumulative
Result+73+9.7

18

YoY rate
Gain&Loss%Change

32+14+76.5

2.5%

3.9%+1.4P

3045+149.5%

12.2%+2.7P

(△28)

369
*２21/3Q

Gain&Loss

Operating Income Ratio

Valves20/3Q+45+14.2+47.6(0)*１ Revenue recognition accounting standards have been applied since FY2021. The amount of impact on sales (included figures) is as above.
Sales increased by 500 million yen due to the collective recognition of mold cost collection, and decreased by 3.3 billion yen
due to the offset display of sales of customer-received products and cost of sales. The impact on profits is minor.
*２ The amount of impact on sales (included figures) is as above. The impact on profits is minor.

6/17

1-5 Q3 Consolidated Regional Segment
In Japan, decreased in sales and increased in profit (In fact, sales increased except for
the impact of revenue recognition), and increased in sales and profits in Europe, theUnited States and Asia.

（100 million yen,％）

Sales
20/Q3

21/Q3

Cumulative
ResultCumulative
ResultJapan

511(The impact of application ofrevenue recognition)

507*１Operating Income
YoY rate

373

Operating Income Ratio

195

YoY rate%Change

Cumulative
ResultCumulative
ResultGain&Loss%Change△4△0.83146+15+50.4

6.1%

9.2%+3.1P

38+4

1.0%

1.9%+0.9P

1222+96.6%

9.5%+2.9P(△27)

455+82+22.1

Operating Income Ratio

Asia

21/Q3

Gain&Loss

Operating Income Ratio

Europe & America

20/Q3

237+41+21.3+132.7+75.1*１ Revenue recognition accounting standards have been applied since FY2021. The amount of impact on sales (included figures) is as above.
The impact on profits is minor.

7/17

１． Financial Results for Q3

２． Full Year Forecast for FY2021

8/17

2-1

Full Year Consolidated Financial Forecast

Revised full-year forecast (sales, operating income) by incorporating
the latest customer production information in Q4
FY2020ResultSales*２

FY2021

YoY rateForecast
this time

Previous Forecast*１（100 million yen,％）Previous Forecast Rate

Gain&Loss%Change

Gain&Loss%Change

1,610

+105

7.0%

△30△1.8%△5△4.8%

1,504

1,640

Operating Income89105

100+1011.4%

Operating Income Ratio

6.0%

6.4%

6.2%+0.2P－

Ordinary Income

112

125

125+1211.4%

Ordinary Income Ratio

7.5%

7.6%

7.8%+0.3P－Current Net Income

7990

90

+1012.8%

ＲＯＥ

7.6%

7.7%

7.6%

+0.0P

－

△0.1P

－

ＲＯＡ(Operating income basis）

4.2%

4.6%

4.3%

+0.1P

－

△0.3P

－

Net Assts per Share¥1,846¥2,018¥2,049

¥203

11.0%

+¥31

1.5%

Average exchange rate (US dollars)¥105.4¥110.0¥110.7

¥5.3－

¥0.7－

△0.2P
+0+0.2P+0－
0.0%
－
0.0%

* 1 Revenue recognition accounting standards have been applied since 2021. The amount of impact on sales is as follows.
The impact on profits is minor. Sales increased by 1 billion yen due to the collective recognition of mold cost collection,and decreased by 4.5 billion yen due to the offset display of sales of customer-received products and cost of sales.
* 2 Current net income is the current net income attributable to the parent company shareholders.

9/17

2-2 Full Year Causes of Fluctuation in Consolidated Sales
Increased sales volume by following customer production fluctuations
unit: 100 millon yen

Official

Increasedsales volume+105

Selling price△20quotation

Applyingof steel

Revenue recognition△2accounting standards△35Exchange

Exchange
gain+8conversion

1,610+49

1,504

FY2020

Sales ＋10.5 billion yen

FY2021 Forecast

10/17

2-3 Full Year Causes of Fluctuation in Consolidated Operating Income
Expected to increase profits by increasing sales volume and continuous cost improvement
Increasedsales volume+47

Selling price△20Depreciaton(excluding dies)△1789

unit: 100 millon yen

Increased

IncreasedExpenses△14Exchange
Cost

Increasedimprovementlabor cost
△14gain

Materialprice100+8+27△7FY2020

Operating Income ＋１ billion yen

FY2021 Forecast

11/17

2-4

Full Year Consolidated Business Segments

Expected to increase sales and profits for stamping & molding and valves（100 million yen,％）

Sales

Stamping & Molding

Operating Income

FY2020

FY2021ResultForecast

Gain&Loss

1,045

1,122+76(The impact of application ofrevenue recognition)*１

YoY rate

FY2020

FY2021%Change

ResultForecast

Gain&Loss%Change+7.4

3941+1+4.8

3.7%

3.7%+0.0P

4959+910.9%

12.2%+1.3P(△35)

Operating Income Ratio

Valves(The impact of application ofrevenue recognition)

Operating Income Ratio

457

485
*２

YoY rate+27+6.1+18.0(0)*１ Revenue recognition accounting standards have been applied since FY2021. The amount of impact on sales (included figures) is as above.
Sales increased by 900 million yen due to the collective recognition of mold cost collection, and decreased by 4.5 billion yen
due to the offset display of sales of customer-received products and cost of sales. The impact on profits is minor.
*２ The amount of impact on sales (included figures) is as above. The impact on profits is minor.

12/17

2-5

Full Year Consolidated Regional Segment

In Japan, decreased in sales and increased in profit (In fact, sales increased except for
the impact of revenue recognition), and increased in sales and profits in Europe, theUnited States and Asia

（100 million yen,％）

Sales

Operating Income

FY2020

FY2021ResultForecsatGain&Loss

702686△16Japan*１(The impact of application ofrevenue recognition)

YoY rate

FY2020

FY2021%Change

ResultForecsatGain&Loss%Change△2.45155+3+6.2

7.4%8.0%+0.6P

1516+03.0%

2.7%

△0.3P

1826+76.8%

7.8%+1.0P(△35)

Operating Income Ratio

Europe & America

523591+67+12.9

Operating Income Ratio

Asia
Operating Income Ratio

277

YoY rate333+55+19.9+2.1+36.9*１ Revenue recognition accounting standards have been applied since FY2021. The amount of impact on sales (included figures) is as above.
The impact on profits is minor.

13/17

2-7 Quarterly Consolidated Financial Results
Fixed costs were incurred due to fluctuations in customer production in Q3, and it isassumed that customer production will be reduced in Q4

OperatingIncomeSales※¥44.4 billion ※¥42.9 billion
in FY2019declined

Recordwas thewas thedue tohighhighest

highestcustomeras Q3evereverproduction

in Q1

cuts inin Q4

August and

432

423

(100 mllion yen)Sales

in FY2018

September

Production
cut inOctober andNovember,recoveringin December

416

415

Expected toreduce sales

RecordRecordRecorddue tohighhighhighcustomer

as Q3

as Q4

as Q1

production
cuts

409

41(100 mllion yen)

ProfitProfit increased

decreased

due todue toproduction

decreasedecrease

recovery, butprofits due

in sales

temporary fixed

to decreased

costs weresales

40

Expected toincurred due toproduction

368

fluctuations

33

27
22

16

20/Q3

20/Q4

21/Q1

21/Q2

21/Q3

21/Q4

20/Q3

20/Q4

21/Q1

21/Q2

21/Q3

21/Q4

14/17

2-8

Consolidated Capital Investment & Depreciation

Prioritizing capital investment that has a large effect and that comes out quickly

Capital Investment
208

AsiaEurope&America

34

61

220
48

235
2149（100 million yen）

162

'17

146

40

25

23

33

38

77

84

85

'18'19'20

992424262645

13112

'18

142
127

61

113

163

40

164

Japan

（100 million yen）

180
1859

Depreciation

84'19'2010062'21(forecast)

'17

91

'21(forecast)

15/17

2-9

Looking back on Q3, issues for the next term

Gaining a solid foothold GLOCALly by preventing being infected and maintaining
employment and our production system as a top priority■Q3 results
・Recovered from the 5th wave of Covid-19, and landed at the same level as the previous forecast
・Although there was a loss in production fluctuations,the corporate structure was strengthened by improving profitability.

■Full year forecast
・Stagnation of economic activity due to expansion of the Omicron variant
・Production fluctuations due to insufficient supply of parts such as semiconductors
・Revised from the forecast of large production increase,maintaining an improved corporate structure and securing profits■FY2022・ Prolonged Covid-19 impact, stagnant economic activity in China
・ Continuing concerns about semiconductor and component supply
・ Preparation of production system for recovery production, maximization of production increase effect
・ OCEAN-22 final year, scheduled to announce new medium-term management plan
16/17