SHIKOKU CHEMICALS CORPORATION

Stock Code‫؟‬4099
April 27, 2020

Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2020
[under Japanese GAAP](Amounts less than one million yen are rounded down)

1‫؝‬Consolidated financial results for the fiscal year ended March 31, 2020
(from April 1, 2019 to March 31, 2020)(1) Consolidated operating results‫ق‬Millions of yen, except per share amounts; Percentages indicate year-on-year changes ‫ك‬Fiscal year ended
Fiscal year ended
March 31, 2020
March 31, 2019%%Net sales51,564(2.4)
52,813
4.0
Operating income
7,848(2.5)
8,049(1.4)
Ordinary income
8,022(4.9)
8,431(0.2)
Net income attributable to owners of the5,610
3.9
5,397(18.4)
ParentBasic earnings per share (Yen)
96.92
92.39
Diluted earnings per share (Yen)
Return on equity (%)
8.0
7.9
Ratio of ordinary income to total assets
8.3
9.2(%)
Ratio of operating income to net sales (%)
15.2
15.2
Note: Comprehensive income
4,412 million yen[21.0%] 3,645 million yen [䠄52.8%䠅]Reference: Share of profit of entities
㸫 million yen㸫 million yen
accounted for using equity method(2) Consolidated financial position

Total assets
Total equity
Ratio of equity attributable to owners of the Parent
Equity per share attributable to owners of the Parent (Yen)
Reference: Equity attributable to owners of the Parent

March 31, 2020

(Millions of yen)March 31, 2019100,896
71,64770.2%
1,241.76
70,839 million yen

92,191
70,37075.5%
1,191.07
69,582 million yen

Fiscal year ended
March 31, 2020
7,385
(6,018)3,875
32,607(Millions of yen)
Fiscal year ended
March 31, 2019
5,984
(4,174)(1,294)27,441(3) Consolidated Cash Flows

Operating activities
Investing activities
Financing activities
Cash and cash equivalents at the end of period

SHIKOKU CHEMICALS CORPORATION

Stock Code‫؟‬4099
April 27, 2020
2᧪᧪Dividends
Year ending
March 31, 2021
(Forecast)Year ending
March 31, 2020

Year ending
March 31, 2019

12.00
12.00
24.00

12.00
12.00
24.00

11.00
11.00
22.00

1,389

1,285

24.8

23.8

2.0

1.9

Annual cash dividends per share (Yen)
1st quarter end
2nd quarter end
3rd quarter end
Fiscal year end
Total
Total amount of annual cash dividends(Millions of yen)
Consolidated dividend payout ratio (%)-Consolidated dividend on equity
attributable to owners of the Parent (%)

3᧪Forecast of consolidated operating results for the year ending March 31, 2021
(from April 1, 2020 to March 31, 2021)
The forecast of business results for the fiscal year ending March 31, 2021 has not yet been determined at
the present moment, because of the effect of the worldwide spread of the novel coronavirus(COVID-19).
We will carefully assess the impact and announce it promptly when we can disclose reasonable forecast.

4᧪Others
Number of issued shares outstanding at the end of the periods(ordinary shares)

Number of issued shares including treasury shares
Number of treasury shares

March 31, 2020
58,948,063 shares
1,900,015 shares

March 31, 201958,948,063 shares
527,764 shares

Average number of shares outstanding during the period

Fiscal year ended
March 31, 2020
57,892,498 sharesFiscal year ended
March 31, 201958,420,641 shares

Explanation regarding the appropriate use of forecast of operating results and other special items
Forward-looking statements such as earnings forecasts and other projections contained in this report arebased on information currently available and certain assumptions judged by management to be reasonable,
and do not constitute guarantees of future performance. Actual results may differ materially fromexpectations due to various factors.

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
2020

2019
AssetsࠉCurrent assets
ࠉࠉCash and deposits
ࠉࠉNotes and accounts receivable - trade
ࠉࠉElectronically recorded monetary claims - operating
ࠉࠉSecurities
ࠉࠉMerchandise and finished goods
ࠉࠉWork in process
ࠉࠉRaw materials and supplies
ࠉࠉOther
ࠉࠉAllowance for doubtful accounts
ࠉࠉTotal current assets
ࠉNon-current assets
ࠉࠉProperty, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
ࠉࠉIntangible assets
Software
Other
Total intangible assets
ࠉࠉInvestments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
OtherAllowance for doubtful accounts
Total investments and other assets
ࠉࠉTotal non-current assets
ࠉTotal assets
Liabilities
ࠉCurrent liabilities
ࠉࠉNotes and accounts payable - trade
ࠉࠉElectronically recorded obligations - operating
ࠉࠉShort-term borrowings
ࠉࠉCurrent portion of long-term borrowings
ࠉࠉAccrued expenses
ࠉࠉIncome taxes payableࠉࠉAccrued consumption taxes
ࠉࠉProvision for bonuses for directors (and other officers)ࠉࠉNotes payable - facilities
ࠉࠉElectronically recorded obligations-facilities
ࠉࠉOtherࠉࠉTotal current liabilities

126,641
14,496
2,149
3,800
6,158
47
3,233
310
ᇞ156,836

26,607
13,0572,095
11,000
6,912
47
3,100
283
ᇞ0
63,103

5,327
4,506
8,835
112
734
19,515

5,148
3,929
8,849
736
651
19,315

170
5176

143
0
143

14,390
3
647
230
393
ᇞ3
15,66235,35592,191

16,607
3
1,159
201
365
ᇞ3
18,33337,792
100,896

8,430
439
1,930
914
1,423
940
123
66
142
28
2,266
16,707

6,530
415
2,730
693
1,396
1,356
313
73
58
53
4,127
17,747

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
2020

2019
ࠉNon-current liabilities
ࠉࠉLong-term borrowings
ࠉࠉDeferred tax liabilities
ࠉࠉDeferred tax liabilities for land revaluation
ࠉࠉProvision for retirement benefits for directors (and other officeࠉࠉRetirement benefit liability
ࠉࠉAsset retirement obligations
ࠉࠉProvision for share-based remuneration
ࠉࠉOtherࠉࠉTotal non-current liabilities
ࠉTotal liabilities
Net assets
ࠉShareholders' equity
ࠉࠉShare capitalࠉࠉCapital surplus
ࠉࠉRetained earnings
ࠉࠉTreasury shares
ࠉࠉTotal shareholders' equity
ࠉAccumulated other comprehensive income
ࠉࠉValuation difference on available-for-sale securities
ࠉࠉDeferred gains or losses on hedges
ࠉࠉRevaluation reserve for landࠉࠉForeign currency translation adjustment
ࠉࠉRemeasurements of defined benefit plans
ࠉࠉTotal accumulated other comprehensive income
ࠉNon-controlling interests
ࠉTotal net assets
Total liabilities and net assets

2680
23
1,111
111
2,219
378
㸫
587
5,113
21,820

7,157
1
1,111
88
2,201
379
23
537
11,50029,2486,867
5,740
51,798
ᇞ322
64,084

6,867
5,815
56,063
ᇞ2,18366,563

3,199
ᇞ4
2,533
ᇞ93
ᇞ137
5,498
788
70,37092,191

1,972
ᇞ4
2,533
ᇞ109
ᇞ115
4,276
808
71,647
100,896

Consolidated Statements of Income(Millions of yen)
2020

2019
Net salesCost of sales
Gross profit
Selling, general and administrative expenses
ࠉTransportation and storage costs
ࠉAdvertising expenses
ࠉSalaries
ࠉProvision for bonuses for directors (and other officers)ࠉRetirement benefit expenses
ࠉProvision for retirement benefits for directors (and other offi
ࠉResearch and development expenses
ࠉOtherࠉTotal selling, general and administrative expenses
Operating profit
Non-operating income
ࠉInterest income
ࠉDividend income
ࠉMiscellaneous income
ࠉTotal non-operating income
Non-operating expenses
ࠉInterest expenses
ࠉLoss on sales of notes receivable - trade
ࠉSales discounts
ࠉForeign exchange losses
ࠉLoss on abandonment of inventories
ࠉDonations
ࠉMiscellaneous loss
ࠉTotal non-operating expenses
Ordinary profit
Extraordinary income
ࠉGain on sales of non-current assets
ࠉGain on sales of investment securities
ࠉSubsidy income
ࠉTotal extraordinary income
Extraordinary losses
ࠉLoss on retirement of non-current assets
ࠉLoss on valuation of investment securities
ࠉTotal 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

352,81331,681
21,132

51,56430,47921,085

4,373
649
2,248
69
177
18
1,295
4,251
13,083
8,049

4,532
674
2,211
76
170
20
1,338
4,212
13,236
7,848

15
543
86
645

23
476
35
535

15
0
130
10
47
50
7
262
8,431

14
0
137
174
25
㸫
9
362
8,022

3
㸫
㸫
3

1
5
44
50

25
593
619
7,815
2,284
75
2,360
5,455
57
5,397

19
㸫
19
8,053
2,401
7
2,408
5,644
33
5,610

Consolidated Statements of Comprehensive Income(Millions of yen)
2020

2019
ProfitOther comprehensive incomeࠉValuation difference on available-for-sale securities
ࠉDeferred gains or losses on hedges
ࠉForeign currency translation adjustment
ࠉRemeasurements of defined benefit plans, net of tax
ࠉTotal other comprehensive income
Comprehensive income
Comprehensive income attributable toࠉComprehensive income attributable to owners of parent
ࠉComprehensive income attributable to non-controlling interests

4

5,455

5,644

ᇞ1,810ᇞ2234
ᇞ11
ᇞ1,8093,645

ᇞ1,237
ᇞ0
ᇞ1622
ᇞ1,231
4,412

3,605
40

4,389
22

Consolidated Statements of Cash Flows(Millions of yen)
2020

2019
Cash flows from operating activities
ࠉProfit before income taxes
ࠉDepreciation
ࠉIncrease (decrease) in retirement benefit liability
ࠉDecrease (increase) in retirement benefit asset
ࠉInterest and dividend income
ࠉInterest expenses
ࠉLoss (gain) on valuation of investment securities
ࠉLoss (gain) on sales of investment securities
ࠉSubsidy income
ࠉLoss on retirement of property, plant and equipment
ࠉLoss (gain) on sales of property, plant and equipment
ࠉDecrease (increase) in trade receivables
ࠉDecrease (increase) in inventories
ࠉIncrease (decrease) in trade payables
ࠉIncrease (decrease) in accrued consumption taxes
ࠉOther, net
ࠉSubtotal
ࠉInterest and dividends received
ࠉInterest paid
ࠉSubsidies received
ࠉIncome taxes paid
ࠉNet cash provided by (used in) operating activities
Cash flows from investing activities
ࠉPurchase of securities
ࠉProceeds from redemption of securities
ࠉPurchase of property, plant and equipment
ࠉProceeds from sales of property, plant and equipment
ࠉPayments for retirement of property, plant and equipment
ࠉPurchase of investment securities
ࠉProceeds from sales and redemption of investment securities
ࠉLoan advances
ࠉCollection of loans receivableࠉDecrease (increase) in time deposits
ࠉOther, net
ࠉNet cash provided by (used in) investing activities
Cash flows from financing activities
ࠉNet increase (decrease) in short-term borrowings
ࠉProceeds from long-term borrowings
ࠉRepayments of long-term borrowings
ࠉPurchase of treasury shares
ࠉDividends paid
ࠉDividends paid to non-controlling interests
ࠉPayments from changes in ownership interests in subsidiaries that do not result in change in scope ofࠉOther, net
ࠉNet 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

5

7,815
2,281
16
44
ᇞ558
15
593
㸫
㸫
25
ᇞ3
ᇞ1,136
ᇞ1,028
655
ᇞ117
ᇞ157
8,447
558
ᇞ16
㸫
ᇞ3,005
5,984

8,053
2,189
13
29
ᇞ500
14
㸫
ᇞ5
ᇞ44
19
ᇞ1
1,459
ᇞ631
ᇞ1,902
189
ᇞ9
8,874
500
ᇞ16
44
ᇞ2,0177,385

ᇞ1,000㸫
ᇞ2,124
5
ᇞ20
ᇞ7
㸫
ᇞ0
1
ᇞ1,000ᇞ28
ᇞ4,174

ᇞ4,0001,000
ᇞ1,4792
ᇞ13
ᇞ2,506
6
ᇞ00
1,000
ᇞ27
ᇞ6,018

㸫
100
ᇞ146
ᇞ0
ᇞ1,285
ᇞ3
ᇞ14
55
ᇞ1,29452
568
26,87227,441

800
7,200
ᇞ945
ᇞ1,786
ᇞ1,345
ᇞ3㸫
ᇞ443,875
ᇞ76
5,166
27,441
32,607