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 Nine Months Ended December 31, 2020
(Based on Japanese GAAP)
January 29, 2021
Company name:Sansha Electric Manufacturing Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6882
URL https://www.sansha.co.jp
Representative Director, President
Hajimu Yoshimura

Inquiries:

Corporate Planning Department
General Manager

Hiroyuki Maruyama

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

February 5, 2021–

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

YesNo

TEL

06-6321-0321(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2020 (from April 1, 2020 to December 31, 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%
Nine months ended December 31, 2020
13,572 (18.5)
150 (26.8)
161 (12.3)
24 (86.1)
Nine months ended December 31, 201916,656(7.7)
205 (85.6)
184 (86.8)
172 (83.5)
Earnings per share

Diluted earnings per share

Yen
1.71
12.20

Nine months ended December 31, 2020
Nine months ended December 31, 2019

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2020
As of March 31, 2020

Net assets

Millions of yen
24,01024,051Equity ratio

Millions of yen
18,39618,489Net assets per share
%
76.6
76.9

Yen
1,309.56
1,316.15

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
8.00
5.00

Yen––

Yen
5.00

Yen
13.00

––

Year ending March 31, 2021 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

Full year

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
19,500 (10.9)
300
16.9
300
23.4
230
–
16.37

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2020(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 December 31, 2020

14,950,000 shares As of March 31, 2020

14,950,000 shares

Number of treasury shares at the end of the period
As of December 31, 2020

902,122 shares As of March 31, 2020

902,122 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2020

14,047,878 shares Nine months ended December 31, 20192

14,142,878 shares

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

As of December 31, 2020

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

4,659
6,217

5,167
5,708

Electronically recorded monetary claims - operating
Merchandise and finished goods

1,247
2,906

1,244
3,021

Work in process
Raw materials and supplies

709
1,648

991
1,505

247
(24)

336
(25)

17,611

17,951

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

2,220
657

2,042
645

Land
Leased assets, net

2,090
247

2,090
217

180
314

93
291

5,710

5,382

99

52

Other

183

135

Total intangible assets

282

188

Investment securities
Deferred tax assets

35
165

37
143

Retirement benefit asset
Other

109
136

179126

Total investments and other assets

446

488

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets

Total non-current assets
Total assets

3

6,440

6,058

24,051

24,010(Millions of yen)
As of March 31, 2020

As of December 31, 2020

Liabilities
Current liabilities
Notes and accounts payable - trade

2,318

2,546

Electronically recorded obligations - operating
Accounts payable - other177
799

217
809

Accrued expenses
Income taxes payable

557
106

536
55

Provision for bonuses
Provision for product warranties

362
63

249
51

Provision for loss on order received
Other

24
477

14
460

4,889

4,942

Total current liabilities
Non-current liabilities
Lease obligations

96

48

Directors' retirement benefits payable
Deferred tax liabilities

388
90

388
132

Retirement benefit liability
Other

48
49

44
57

Total non-current liabilities

673

671

5,562

5,613

Shareholders' equity
Share capital

2,774

2,774

Capital surplus
Retained earnings

2,698
13,975

2,698
13,858

Total liabilities
Net assets

Treasury shares
Total shareholders' equity

(925)

(925)

18,522

18,40637518(45)(33)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4(33)

(9)

18,48918,39624,051

24,010Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2019

December 31, 2020

Net sales
Cost of sales

16,656
13,178

13,572
10,637Gross profit

3,478

2,935

Selling, general and administrative expenses

3,272

2,784

205

150

Interest income
Dividend income

954
2

Rental income
Subsidy income

102

1021

Other

1628

Total non-operating income

4467

Interest expenses
Commission expenses

542–

Loss on valuation of derivatives
Foreign exchange losses–51

742

Other

44

Operating profit
Non-operating income

Non-operating expenses

66

56

Ordinary profit

Total non-operating expenses

184

161

Extraordinary income
Gain on sales of investment securities

82–

82

–

Profit before income taxes

Total extraordinary income

266

161

Income taxes - current
Income taxes - deferred

211
(117)

78
58

Total income taxes

93

137

Profit172

24

Profit attributable to owners of parent

172

24

5

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2019

December 31, 2020
172

24

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

(41)
(104)

1
10

Remeasurements of defined benefit plans, net of tax

(21)

11

Total other comprehensive income

(167)

23

Comprehensive income

547

Comprehensive income attributable toComprehensive income attributable to owners of parent

547

6