Summary of Business Results for the Year Ended March 31, 2019
[Japan GAAP] (Consolidated)
May 10, 2019
Company
Stock CodeRepresentativeContact

SWCC SHOWA HOLDINGS CO., LTD.

Listed on the TSE
URL:http://www.swcc.co.jp

5805
Takayo Hasegawa, President and Representative Director
Tetsuo Komata, Manager of Business Planning Dept., Business
T E L: +81-44-223-0520
Strategy Headquarters
Expected date of annual shareholders’ meeting: June 26, 2019
Expected starting date of dividend payment: June 27, 2019
Expected date of filing of annual securities report: June 26, 2019
Preparation of supplementary financial document: None
Results briefing: None

（Rounded down to million yen）

１. Consolidated business results for the fiscal year ended March 2019
(April 1, 2018 through March 31, 2019)(1) Consolidated results of operations(% change from the previous corresponding period)

Net salesYear ended Mar. 2019Year ended Mar. 2018

Million yen
177,174
168,186

Operating income
%
5.3
8.3

Million yen
6,640
6,276

Ordinary income%
5.8
48.2

Million yen
5,603
4,892%
14.5
100.0

Net income attributable toowners of parent

Million yen
4,569
3,737%
22.389.1(Note) Comprehensive income:Year ended March 2019: 2,314 million yen (-59.6%)
Year ended March 2018: 5,722 million yen (94.7%)

Net income
per share
Year ended Mar. 2019Year ended Mar. 2018

Yen
153.22123.93

Diluted net income
per share
Yen-Return on
equityRatio of ordinary
income to total assets

%
13.5
12.3%
4.5
4.0

Ratio of operating
income to net sales
%
3.8
3.7

(Reference) Investment earnings/loss on equity-method:Year ended March 2019: -476 million yen
Year ended March 2018: -415 million yen(Note1) The Company conducted a 1-for-10 reverse stock split effective on October 1, 2017. Net income per share is calculated assuming that thereverse stock split was conducted at the beginning of the previous consolidated fiscal year.
(Note2) The Company has applied the "Partial Revision of Accounting Standard for Tax Effects" (ASBJ Statement No. 28, issued onFebruary 16, 2018) from the beginning of the current fiscal year. The figures for the previous fiscal year
have been calculated retrospectively after applying the standard.

(2) Consolidated financial position
Total assets
As of Mar. 2019
As of Mar. 2018

Million yen
124,165
123,518

Net assets
Million yen
35,62833,477

Shareholders’ equity
ratio%
28.1
26.6

Net assets pershareYen
1,171.66
1,101.71(Reference) Shareholders’ equity:
As of March 2019: 34,943 million yen
As of March 2018: 32,857 million yen(Note1) The Company conducted a 1-for-10 reverse stock split effective on October 1, 2017. Net assets per share is calculated assuming that thereverse stock split was conducted at the beginning of the previous consolidated fiscal year.
(Note2) The Company has applied the "Partial Revision of Accounting Standard for Tax Effects" (ASBJ Statement No. 28, issued onFebruary 16, 2018) from the beginning of the current fiscal year. The figures for the previous fiscal year
have been calculated retrospectively after applying the standard.

(3) Consolidated results of cash flows

Year ended Mar. 2019Year ended Mar. 2018

Cash flows fromoperating activities
Million yen
6,901
6,804

Cash flows frominvesting activities
Million yen-3,552-4,051－ 1 －Cash flows fromfinancing activities
Million yen-2,970-3,295

Cash and cash equivalents
at the end of period
Million yen4,721
4,603

2. Dividends
Annual dividendYear ended Mar. 2018Year ended Mar. 2019Year ending Mar. 2020
(forecast)End of1Q
Yen-

End of2Q
Yen
0.00
0.00
0.00

End of3Q
Yen-

Year-end

Total dividend(Total)

Total

Yen
5.00
7.00
10.00

Yen
5.00
7.00
10.00

Dividend payout
ratio(Consolidated)

Million yen
149
208

Rate of total
dividend to net
assets(Consolidated)

%
4.0
4.6
6.6

%
0.5
0.6

3．Forecast of consolidated business results for the fiscal year ending March 2020
(April 1, 2019 through March 31, 2020)Net sales
Year ending Mar.
2020

Operating income

Million yen%

173,000-2.4

Million yen%

6,500

Net income
per share%

Net income attributableto owners of parent
Million yen%

3.54,500-1.5

150.89Ordinary income
Million yen

-2.1

5,800

Yen

*Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes
in the scope of consolidation): None
(2) Changes in accounting policies, accounting estimates and restatement①Changes in accounting policies associated with revision of accounting standards:②Changes in accounting policies other than ①③Changes in accounting estimates④Restatement: None: None: Yes: None

(3) Shares outstanding (common stock)① Number of shares outstanding at the end of period (treasury stock included)
As of March 201930,826,861 shares
As of March 201830,826,861 shares② Treasury stock at the end of period:
As of March 2019
1,003,297 shares
As of March 2018
1,002,411 shares③ Average number of stock during period
Year ended March 201929,824,022 sharesYear ended March 201830,155,304 shares(Note) The Company conducted a 1-for-10 reverse stock split effective on October 1, 2017. Number of shares outstanding at the end of period, numberof treasury stock at the end of period, and average number of stock during period are calculated assuming that the reverse stock split was conductedat the beginning of the previous consolidated fiscal year.

(Reference) Summary of non-consolidated business results
1. Non-consolidated business results for the fiscal year ended March 2019
(April 1, 2018 through March 31, 2019)(1) Non-consolidated results of operations

Year ended Mar. 2019Year ended Mar. 2018Year ended Mar. 2019Year ended Mar. 2018(% change from the previous corresponding period)

Net sales
Million yen%
2,273-14.3
2,654-14.5

Operating income
Million yen%283-27.3
389-29.5

Net income
per share

Diluted net income pershare
Yen-Yen
12.42
11.94

Ordinary income
Million yen%352-11.3
397-33.7

Net income
Million yen%370
2.9360-38.1(Note1) The Company conducted a 1-for-10 reverse stock split effective on October 1, 2017. Net income per share is calculated assuming that thereverse stock split was conducted at the beginning of the previous consolidated fiscal year.

－ 2 －(2) Non-consolidated financial position
Total assets
As of Mar. 2019
As of Mar. 2018

Million yen
80,74081,306

Net assets
Million yen
30,14429,973

Shareholders’ equity
ratio%
37.3
36.9

Net assets pershareYen
1,010.77
1,005.01(Reference) Shareholders’ equity:
As of March 2019: 30,144 million yen
As of March 2018: 29,973 million yen(Note1) The Company conducted a 1-for-10 reverse stock split effective on October 1, 2017. Net assets per share is calculated assuming that thereverse stock split was conducted at the beginning of the previous consolidated fiscal year.
(Note2) The Company has applied the "Partial Revision of Accounting Standard for Tax Effects" (ASBJ Statement No. 28, issued onFebruary 16, 2018) from the beginning of the current fiscal year. The figures for the previous fiscal year
have been calculated retrospectively after applying the standard.

*Financial summary is not subject to auditing procedures by certified public accountants or auditing firms.
*Explanation regarding appropriate use of business forecasts and other special instructions
Forecasts regarding future performance in this material are based on information currently available to the company
and certain assumptions that the company deems to be reasonable at the time this report was prepared. The company
does not make promises about the achievements. Actual results may differ significantly from the forecasts due tovarious factors.

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