Contents
About Sanix Group
Sanix Group Business Area
Sanix Group through numbers
Sanix Group through the picture
Business of Sanix Group
History of Sanix Group

Sanix Group Value Creation
Materiality
Value creation process

Sanix Group Growth Strategy
Message from the President
Transition of management plan andmedium-term management plan
Outline of medium-term management
plan (FY2019-2021)
Progress of medium-term
management plan (FY2019-2021)
Value creation story in the Residential
Environment segment
HS (Home Sanitation) Business
ES (Establishment Sanitation) Business

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20
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30
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36

Value creation story in the Energy segment
SE (Solar Engineering) BusinessEB (Energy Business)

Value creation story in the Resource
Circulation segment
ERD (Environmental Resource
Development) Business
Topics: For realization of a decarbonized society
and resource-recycling societyManagement Foundationthat supports sustainable growth
Sustainability in business activities
Sustainability about people (education)
Sustainability about people (employment)
Sustainability about people (occupationalsafety and health)Sustainability about people (customer
satisfaction)
Social contribution activities
Sustainability data
Management system
Corporate governanceCompliance • Risk management

Data Section
Financial data highlights
Share information
Company information

4

Editorial policy
It is edited as an integrated report for the
purpose of deepening the understanding ofstakeholders about the business content of"Environment and Energy" that Sanix Group is
working on and the process of realizing a
comfortable environment for the next generation through this business. In this year, Sanix
Group has completed the second year of
medium-term management plan 2019-2021.
This integrated report explains the management issues and speciﬁc measures to beachieved in the current medium-term management plan and its progress from both sides ofﬁnancial and non-ﬁnancial perspectives.
For detailed information on products, services,business details, ﬁnance, etc., please check our
website. (See p.82)This report has been editedwith reference to the "International Integrated
Reporting Framework" of the International
Integrated Reporting Council (IIRC) and the"Value Co-creation Guidance" formulated by the
Ministry of Economy, Trade and Industry.

38
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42

Report target period, etc.

42

■ Target organizations: Sanix Inc. and domestic
and overseas consolidated subsidiaries■ Accounting Standards: For the time being,
Japanese standards will be applied.
Regarding the application of International
Financial Reporting Standards, we will takeappropriate measures in consideration ofvarious domestic and internationalsituations.

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About Sanix Group■ Target period: FY2020(April 1, 2020-March 31, 2021)

Precautions regarding future prospects
Forward-looking statements, such as performance forecasts, contained in this integrated
report are not intended to guarantee future
performance and are based on certain
assumptions and management's judgment
based on currently available information.
Therefore, due to various factors, the actual
earnings and business results at a future point
in time may diﬀer signiﬁcantly from thestatements regarding the business forecast.
This material is not intended to solicit investment in securities issued by the company.
Please note that the company shall not beliable for any loss or debt incurred based on theinformation contained in this material.

Sanix Group Business Area
Sanix Group through numbers
Sanix Group through the pictures
Business of Sanix Group
History of Sanix Group5About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Management system(As of June 29, 2021)

Director
President and Representative Director

Director, Senior Managing Executive Oﬃcer

Director, Managing ExecutiveOﬃcer

Director, Managing ExecutiveOﬃcer

Director, Managing ExecutiveOﬃcer

Hiroshi Munemasa

Koji Umeda(Date of birth: Jul. 17, 1975)(Date of birth: Oct. 28, 1965)

Kozo Inoue

Takeshi Inada

Koichi Mizukawa(Date of birth: Apr. 23, 1956)(Date of birth: Mar. 4, 1979)(Date of birth: Jul. 15, 1973)

Number of shares held: 6,496,544 shares

Number of shares held: 45,283 shares

Number of shares held:
17,299 shares

Number of shares held:
5,233 shares

Number of shares held:
8,234 sharesMar. 1984 Joined the Company
Nov. 1994 Director, General Manager of Kansai Regional Headquarter, HSBusiness Div.
Apr. 2001 Director, General Manager of Environmental Resources Development Business Headquarter
Jun. 2002 Managing Director, General Manager of Environmental Resources
Development Business Headquater, General Manager of Plastics BusinessDiv. and General Manager of Sales Dept.
Apr. 2018 Director, Senior Managing Executive Oﬃcer, in charge of General
Management and General Manager of Development & Production
Headquarter
Jun. 2020 Director, Senior Managing Executive Oﬃcer, in charge of General
Management, General Manager of Energy Business Headquater andGeneral Manager of New Power Business Div. (to present)

Jan. 2003 Joined the Company
Jun. 2007 Director in charge of Special Missions, Executive Oﬃce
Jun. 2013 Director, Vice President and Executive Oﬃcer
Jan. 2017 President and Representative Director (to present)

Apr. 1979 Joined Sanwa Bank, Ltd (currently MUFG, Ltd)
Aug. 1995 Joined the Company
Jun. 1999 Director
Apr. 2000 Managing Director, General Manager ofCorporate Planning Dept.
Jun. 2004 Managing Director, General Manager of
Administration Headquater. and General Manager
of Corporate Planning Dept.
Aug. 2018 Director, Managing Executive Oﬃcer,
General Manager of Planning Headquater, General
Manager of Administration Headquater andGeneral Manager of Corporate Planning Dept.
Jun. 2021 Director, Managing Executive Oﬃcer, General
Manager of Administration Headquater (to present)

Aug. 1998 Joined the Company
Jun. 2013 Managing Executive Oﬃcer, General Manager
of Kansai Regional Headquarter, HS Business Div.
Apr. 2014 Managing Executive Oﬃcer, General
Manager of Kansai Regional Headquarter, WestJapan SE Business Headquarter, General Manager of
Kansai Regional Headquarter, HS Business
Headquarters
Dec. 2016 Managing Executive Oﬃcer, Deputy General
Manager of East Japan Regional SE Business
Headquarter
Apr. 2017 Managing Executive Oﬃcer, General
Manager of SE, HS and ES Business Headquater
Jun. 2017 Director, Managing Executive Oﬃcer,
General Manager of SE, HS, and ES Business
Headquarter (to present)

Director, Managing ExecutiveOﬃcer

Director, Managing ExecutiveOﬃcer

Director, Managing ExecutiveOﬃcer

Director, Managing ExecutiveOﬃcer

Director

Kenji Kaneko

Michimasa Masuda

Kazuyuki Tabata

Hideki Takei(Date of birth: Jul. 15, 1950)(Date of birth: Oct. 2, 1951)(Date of birth: Aug. 16, 1977)(Date of birth: Apr. 5, 1973)(Date of birth: Jul. 21, 1970)

Number of shares held:
34,715 shares

Number of shares held:
39,757 shares

Number of shares held:
5,212 shares

Number of shares held:
9,033 shares

Number of shares held:
1,587 shares

Apr. 1970 Joined The Nishi-Nippon Sogo Bank, Limited(currently The Nishi-Nippon City Bank, Limited)
Jun. 2008 Managing Director of the Company, incharge of Business Strategy
Oct. 2008 Managing Director, in charge of Business
Strategy and General Manager of Environmental
Resources Development Business Headquarter
Jun. 2010 Managing Director, General Manager ofSpecial Sales Dept. (currently Corporate Sales Dept.),
HS Business Div.
Apr. 2017 Director, Managing Executive Oﬃcer,
Deputy General Manager of SE, HS and ES Business
Headquarter and General Manager of Special Sales
Dept. (currently Corporate Sales Dept.), (to present)

Apr. 2001 Joined the Company
Jun. 2012 Director, General Manager of Accounting
Dept.
Jun. 2015 Director, Managing Executive Oﬃcer,
General Manager of Accounting Dept. and in
charge of IT Promotion
Nov. 2019 Director, Managing Executive Oﬃcer,
Deputy General Manager of Administration
Headquarter and General Manager of Energy
Business Development Div.
Jun. 2021 Director, Managing Executive Oﬃcer,
General Manager of Energy Business Development
Div. (to present)

Nov. 2000 Joined the Company
May. 2016 Managing Executive Oﬃcer, General
Manager of HS Business Div.
Jun. 2017 Director, Managing Executive Oﬃcer,
General Manager of HS Business Div. (to present)

Aug. 1999 Joined the Company
Apr. 2016 Executive Oﬃcer, General Manager ofEnvironmental Resources Development Business
Headquarters and General Manager of Administration Dept.
Jun. 2016 Managing Executive Oﬃcer, General
Manager of Environment Resources Development
Business Headquaters
Oct. 2017 Director, Managing Executive Oﬃcer,
General Manager of Environmental Resources
Development Business Headquarters
Apr. 2021 Director, Managing Executive Oﬃcer,
General Manager of Environmental Resources
Development Business Headquarters and General
Manager of Organic Waste Liquid Business Div. (topresent)

Apr. 1996 Joined the Company
Apr. 2014 Executive Oﬃcer, General Manager of
Administration Dept., West Japan Regional SE
Business Div.
Oct. 2016 Executive Oﬃcer, Deputy General Manager
of West Japan Regional SE Business Div. andGeneral Manager of Administration Dept.
Apr. 2017 Managing Executive Oﬃcer, Deputy
General Manager of SE, HS and ES Business
Headquarters and General Manager of SE Business
Div.
Jun. 2017 Director, Managing Executive Oﬃcer,
Deputy General Manager of SE, HS, ES Business
Headquarters and General Manager of SE BusinessDiv. (to present)

Tetsuo Takaki

Apr. 1974 Joined Obayashi Corporation
Sep. 1979 Joined Takaki Corporation, Director
Aug. 2003 Joined Joe Corporation Takaki, Director
Jul. 2006 Joined the Company
Jan. 2012 Transferred to Sanix Engineering, Director
Nov. 2017 Transferred to Sanix Incorporated.
Engineering Dept. Adviser
Jun. 2020 Director, in charge of construction
operations (to present)

Director (Audit and Supervisory Committee Member)
Koichi Ueno

Isamu Kondo

Naoki Kaneko

Yasufumi Kubota

Genichiro Yasui

Sadahito Baba

(Date of birth: Jul. 31, 1970)(Date of birth: Jul. 7, 1955)(Date of birth: May. 8, 1967)(Date of birth: Feb. 5, 1946)(Date of birth: Aug. 17, 1941)(Date of birth: Apr. 3, 1954)

Number of shares held:
0 shares

Number of shares held:
35,936 shares

Number of shares held:
0 shares

Number of shares held:
2,858 shares

Number of shares held:
10,000 shares

Number of shares held:
0 sharesNov. 1994 Joined Utsunomiya Judicial Scrivener
OﬃceAug. 1997 Joined Namco Corporation (currently
BANDAI NAMCO Entertainment Inc.)
May. 2014 Joined the Company
Dec. 2016 Deputy General Manager of Legal Dept.
Apr. 2020 General Manager of Legal Dept.
Jun. 2021 Director (full-time Audit & Supervisory
Board Member), (to present)

68

May. 1980 Joined Nas Stainless (currently Nasluck
Co., Ltd.)Mar. 1986 Joined Munemasa Syuzo Co., Ltd
Mar. 1999 Representative Director and Senior
Managing Director of Munemasa Syuzo Co., Ltd
Jul. 1999 President and Representative Director,
GLOBAL ARENA Ltd (to present)
Aug. 2010 Corporate Auditor, Munemasa Syuzo Co.,Ltd (to present)
Jun. 2014 Director of the Company
Jun. 2019 Director (Audit & Supervisory Board
Member) of the Company, (to present)

Jun. 2001 President and Representative Director of
TOYOTA Rentalease Fukuoka Co.,Ltd. (to present)
May. 2005 President and Representative Director of
Fukuoka Showa Taxi (to present)
Jun. 2006 Representative Director and President of
Fukuoka Toyota Corporation (to present)
Sep. 2009 Representative Director and President of
SEED Holdings, Inc. (to present)
Feb. 2010 Representative Director and President of
Showa Group Marketing (to present)
May. 2010 Representative Director and President of
TOYOTA L&F FUKUOKA (to present)
Jun. 2010 Outside Director, Kyushu Asahi Broadcasting Co., Ltd (to present)
Jun. 2013 Chairman and Representative Director,
TOYOTA COROLLA FUKUOKA Co.,Ltd.
Jun. 2014 Chairman and Representative Director,
Showa Bus Co., Ltd (to present)
Jun. 2015 Director of the Company
Jun. 2019 Director of the Company (Audit &Supervisory Board Member), (to present)
Oct. 2019 Representative Director and Chairman of
FUKUOKA TOYOPET (to present)
Apr. 2020 Representative Director and Chairman of
the Board, Toyota Mobility Service Fukuoka
Corporation; (to present)

Apr. 1968 Entered the Legal Training and ResearchInstitute of the Supreme Court
Mar. 1970 Completed Legal Training and ResearchInstitute of the Supreme Court
Apr. 1970 Registered as an attorney (admitted toTokyo Bar Association), entered Akefune Law Oﬃce
Apr. 1980 Established Kasumigaseki Sogo Law Oﬃce
Partner, Kasumigaseki Sogo Law Oﬃce (to present)
Mar. 2013 Corporate Auditor, Royal Holdings Co., Ltd
Mar. 2016 Director of Royal Holdings Co., Ltd (Audit
Committee Member)*Retired in Mar. 2020
Jun. 2016 Director of the Company
Jun. 2019 Director of the Company (Audit &Supervisory Board Member), (to present)

Jul. 1967 Joined Yamada Shoji (currently RIX
CORPORATION)
Jan. 1975 Director and General Manager of
Accounting Dept., Yamada Shoji
Mar. 1976 President and Representative Director,
Yamada Shoji
Jun. 1997 Corporate Auditor of the Company
Jun. 2000 Chairman and Representative Director, RIX
CORPORATION
Aug. 2004 Director and Chairman of the Board, RIX
CORPORATION
Jun. 2008 Director and Advisor of RIX CORPORATION
Jun. 2012 Advisor, RIX CORPORATION*Retired in Oct. 2015
Jun. 2019 Director of the Company (Audit &Supervisory Board Member), (to present)

Apr. 1978 Joined Toyota Motor Co., Ltd (currently
Toyota Motor Corporation)
Feb. 1992 Transferred to Toyota Motor Kyushu Inc.
Jan. 1998 General Manager of Production PlanningOﬃce, Production Control Dept.
Apr. 2001 General Manager of Production Control
Dept.
Apr. 2003 General Manager of Business Administration Dept.
Jun. 2003 Director
Jun. 2007 Managing Director
Jun. 2011 Senior Managing Director
Jun. 2014 Representative Director, Executive Vice
President
Jan. 2021 Executive Advisor (to present)
Jun. 2021 Director (Audit & Supervisory Board
Member) of the Company, (to present)69

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Financial data highlights（Million yen）

（Million yen）

【 Fiscal Year 】

FY2011FY2012FY2013

FY2014FY2015【 Fiscal Year 】

FY2016FY2017FY2018FY2019FY2020Net sales

31,45443,366

84,221

95,62961,916

Net sales

50,95549,99350,71952,531

49,416

409

1,870

4,508

△3,142△2,229Operating proﬁt

1,036

1,246

1,224

2,791

2,325

1)

1,633

1,939

1,735

3,714

3,397

Operating proﬁt
1)

EBITDA*

883

2,462

5,045

△2,598△3,151

EBITDA*Net proﬁt attributable to owners of the parent

13

1,575

2,964

△4,966△4,604

Net proﬁt attributable to owners of the parent

416

1,180

240

1,850

1,965

Depreciation and amortization

371

386

547

887

918

Depreciation and amortization

688

709

808

914

1,097

Capital expenditure

308

1,102

2,014

1,825

455

Capital expenditure

599

594

1,080

2,742

3,038

Cash ﬂows from operating activities

1,260

2,184

4,933

△1,794△5,403

Cash ﬂows from operating activities

1,668

2,184

△25

4,080

2,756

Cash ﬂows from investing activities

△151

△222

△3,271△1,181

1,062

Cash ﬂows from investing activities

△409

171

△947

△2,154△2,564

Cash ﬂows from ﬁnancing activities

△881

230

2,433

647

1,288

Cash ﬂows from ﬁnancing activities

1,437△2,156392△1,110△743【 At the end of the period 】【 At the end of the period 】

Total assets

21,28629,19655,31649,12031,248

Total assets

31,64529,93831,00932,51432,940

Tangible ﬁxed assets

11,723

12,32614,181

15,09912,417

Tangible ﬁxed assets

12,278

11,926

12,057

13,73915,322

Interest-bearing debt

7,008

7,467

10,415

11,186

12,874

Interest-bearing debt

14,634

12,78013,474

12,397

11,462

Net assets

7,134

8,837

11,827

7,331

2,629

Net assets

2,845

4,076

4,193

6,056

8,097

【 Per share information 】【 Per share information 】

Net proﬁt per share

0.29

33.01

62.13

△103.98△96.32

Net proﬁt per share

8.70

24.68

5.02

38.72

41.11

Net assets per share

148.95

184.62247.17152.74

54.34

Net assets per share

58.86

84.54

87.08

126.15168.84

Dividend per share

0.00

0.00

0.00

0.00

0.00

Dividend per share

0.00

0.00

0.00

0.00

0.00

15.4%

34.4%

5.8%

36.3%

27.9%

2.9%

3 3%

3.9%

8.2%

6.4%

Return on invested capital (ROIC)*

3.4%

8.6%

2.3%

10.8%

11 2%

【 Financial ratios 】【 Financial ratios 】

2)

Return on equity (ROE)*

0.2%

3)

Return on assets (ROA)*

1.7%
4)

19.8%
7.1%

28.8%
10.2%

△52.0%△6.6%△93.0%

Return on equity (ROE)*2)

△4.9%

3)

Return on assets (ROA)*

4)

Return on invested capital (ROIC)*

0.1%

9.5%

14.0%

△23.1%△15.7%

Shareholders' equity ratio (%)

33.4%

30.2%

21.3%

14.9%

8.3%

Shareholders' equity ratio (%)

8.9%

13 5%

13.4%

18.5%

24 5%

Number of employees (average for the period)

1,698

1,697

2,435

4,092

2,850

Number of employees (average for the period)

1,952

1,777

1,876

2,005

2,052

*Notes1) EBITDA: Earnings before taxation + interest paid + depreciation expense2) Return on equity (ROE): Net income attributable to shareholders of the Company / Average shareholders' equity at the beginning and end of the period x 100
3) Return on assets (ROA): Ordinary income / Average total assets at the beginning and end of the ﬁscal year x 100
4) Return on Invested capital（ROIC）：Operating income after tax ÷ (Average shareholders' equity at beginning and end of period + Average interest-bearing debt
at beginning and end of period) × 100

76

77

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Financial data highlights【Consolidated Balance Sheet】（Million yen）

FY2019（Million yen）

FY2019FY2020Net sales

52,531

49,416FY2020AssetsCash and deposits

5,919

5,526

Cost of sales

34,97432,263

Notes and accounts receivable

5,453

5,228

Gross proﬁt

17,556

17,153Inventories

3,745

3,010

Selling, general and administrative expenses

14,765

14,827

Other assets

1,159

1,136

Operating proﬁt

2,791

2,325

Total current assets

16,277

14,633Non-operating income

164

195

Buildings and structures (net)

1,732

1,624

Non-operating Expenses

363

429

Machinery, equipment and vehicles (net)

2,071

3,002

Ordinary income

2,592

2,091

Land

8,053

8,094

Income before income taxes and minority interests

2,592

2,091

Lease assets (net)

782

877

Income taxes

734

189

Construction in progress

923

1,559

Income tax adjustments

11

△62

Other (net)

176

163

1,846

1,964

Total tangible ﬁxed assets

13,73915,322△4△0

Total intangible ﬁxed assets

450

773

1,850

1,965

Total investments and other assets

2,047

2,210

Total ﬁxed assets

16,23718,306

Total assets

32,51432,940Notes and accounts payable-trade

3,716

4,037

Short-term loans payable

9,525

6,630

Current portion of long-term debt

928

230

Lease obligations

322

476

Other liabilities

7,084

5,487

Total current liabilities

21,576

16,861

Bonds payable

500

500

Long-term debt

262

2,417

Lease obligations

859

1,208

Other liabilities

3,259

3,855

Total long-term liabilities

4,881

7,981

Total liabilities

26,45824,842

Liabilities

Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

Net income
Minority interests
Net proﬁt for the year attributable to owners of the parent【 Consolidated statement of comprehensive income 】（Million yen）

FY2019FY2020

1,846

1,964

Unrealized gains on available-for-sale securities

△29

23

Foreign currency translation adjustments

△73

91

Adjustment for retirement beneﬁts

120

△39

Total other comprehensive income

16

75

1,863

2,040

Comprehensive income attributable to owners of the parent 1,867

2,041

Net proﬁt for the year
Other comprehensive income

Comprehensive income

Comprehensive income relating to non-controlling interests△4△0【 Selling, general and administrative expenses】

Total net assets

78【 Consolidated income statement 】

14,041
1△6,506△1,481
6,055
△25
26
6,056
32,514（Million yen）

FY2019FY2020Advertising expenses

325

276

△4,541

Allowance for doubtful accounts

△62

30

△1,481

Personnel expenses

14,041
1

9,140

9,228

Rental expenses

927

1,007

50

Depreciation and amortization

189

294

25

Communication and transport costs

796

665

8,097

Vehicle expenses

326

343

32,940

Other

3,122

2,980

Total SG&A expenses

14,765

14,8278,020

79