Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2021 (unaudited)(Based on Japanese GAAP)
August 13, 2021
Company name:

Tokushu Tokai Paper Co., Ltd.

Stock exchange listings: Tokyo
Code number:

3708

URL

Representative:

President and Chief Executive Officer

Yuji Matsuda

For inquiry:

Director, Managing Executive Officer, CFO

Tsuneo Sekine

Quarterly securities report issuing date:August 13, 2021

Dividend payment date:－Availability of support documentation:

NoNo

Holding of financial result briefing:https://www.tt-paper.co.jp
TEL +81-3-3281-8581(All yen figures are rounded down to the nearest one million yen)
1. Consolidated Financial Results for the Three Months Ended June 30, 2021 (April 1, 2021 – June 30, 2021)(1) Consolidated Operating Results(% represents the change from the same period in the previous fiscal year)
Net sales
Three Months ended

Millions of yen

Operating income% Millions of yen

Ordinary income% Millions of yen

Profit attributable toowners of parent% Millions of yen%

June 30, 2021

18,820

5.4

1,167

118.8

1,842

36.8

1,467 (39.7)

June 30, 2020

17,854(9.0)

53395.0

1,347

2.7

2,434

1,282 million yen
1,185 million yen

8.2%
268.0%

Note: Comprehensive income
Three Months ended June 30, 2021
Three Months ended June 30, 2020
Basic earnings
per share
Yen

Diluted earnings
per share
Yen

June 30, 2021

109.78109.31

June 30, 2020

178.20177.53Three Months ended(2) Consolidated Financial Position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen%

As of June 30, 2021

124,697

80,50559.1

As of March 31, 2021

128,091

80,286

57.3

Reference: Equity

As of June 30, 2021
As of March 31, 2021

73,714 million yen
73,428 million yen―1―142.9

2. Dividends
Annual Dividends per sharestnd1 quarter 2 quarter 3rd quarter End offiscal year
end
end
end

Total

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

March 31, 2021

－

25.00

－

75.00

100.00March 31, 2022

－
50.00

－

50.00

100.00Fiscal year ending
March 31, 2022(Forecast)

Note: Revision to dividend forecasts published most recently: No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 –March 31, 2022)(% represents the change from the same period in the previous fiscal year)
Net sales
Millions of yen

Full fiscal year

81,000Operating income% Millions of yen
6.0

3,600% Millions of yen
11.5

Profit attributable toowners of parent% Millions of yen%

Ordinary income

5,000 (16.3)

Basic earnings
per shareYen

3,600 (35.7)

267.89Note: Revision to financial forecasts published most recently: No

4. Others[1] Changes in significant subsidiaries during the period under review(changes in specified subsidiaries resulting in changes in scope of consolidation): NoNew–Eliminated–[2] Changes in accounting principles, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards:
2) Changes in accounting policies other than 1) above:3) Changes in accounting estimates:
4) Retrospective restatements:

YesNoNoNo[3] Number of issued shares (common shares)(i) Number of issued shares (including treasury shares) as of:June 30, 2021
14,900,000 shares
March 31, 2021
14,900,000 shares(ii) Number of treasury shares as of:June 30, 2021
1,522,399 shares
March 31, 2021
1,534,775 shares(iii) Average number of shares during the period:
Three months ended June 30, 2021
13,366,040 shares
Three months ended June 30, 2020
13,658,699 shares*These financial results are outside the scope of audit by certified public accountants or accounting auditors.
*Explanations pertaining to appropriate use of information concerning future forecasts
The operating results forecasts and certain other statements contained in this document are forward-looking
statements, which are rationally determined based on information available to the company at the time the results
were announced. Actual performance may differ substantially from these projections due to fluctuations in theeconomy or a variety of other known and unknown factor.

―2―

Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of Yen)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAs of March 31, 2021

As of June 30, 2021

13,532
24,428

11,512－4,241
728
4,640
921

－
24,188
4,359
967
4,862
1,026

(15)

(15)

48,47846,900

Buildings and structures, net

17,185

16,944

Machinery, equipment and vehicles, net

29,05328,351Land

12,134

12,134

Other, net

2,598

3,068

Total property, plant and equipment

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

60,97160,499Intangible assets
Goodwill

1,271

1,236

Other

416

392

Total intangible assets

1,688

1,629

Investments and other assets
Investment securities
Deferred tax assets
Other15,593
553
847

14,288566
855

Allowance for doubtful accounts

(41)

(41)

Total investments and other assets

16,952

15,668

Total non-current assets
Total assets―3―

79,612

77,797

128,091

124,697(Millions of Yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade

As of June 30, 2021

10,075

10,115

Short-term loans payable
Current portion of long-term loans payable
Current portion of bonds

6,445
4,156
70

6,355
4,096
70

Income taxes payable
Provision for bonuses

1,160
422

196210Provision for environmental measures

3541

Other

8,492

7,008

Total current liabilities

30,85828,094420
13,728
725
64
52
1,230
658

402
12,762
833
67
52
1,256
653

67

69

Non-current liabilities
Bonds payable
Long-term loans payable
Deferred tax liabilities
Provision for directorsʼ retirement benefits
Provision for environmental measures
Net defined benefit liability
Asset retirement obligations
Other

16,946

16,098

Total liabilities

47,80444,192

Net assets
Shareholdersʼ equity
Capital stock
Capital surplus
Retained earnings

11,485
11,03052,47611,485
11,022
52,941

Treasury shares(5,000)(4,959)Total shareholdersʼ equity

69,991

70,489

3,474

3,255
(0)

Total non-current liabilities

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges－

Remeasurements of defined benefit plans

(37)

(29)

Total accumulated other comprehensive income

3,436

3,225

Share acquisition rights

176

144

Non-controlling interests

6,681

6,646

Total net assets
Total liabilities and net assets―4―80,28680,505

128,091

124,697

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated
Statements of Comprehensive Income
Quarterly Consolidated Statements of Income(Millions of Yen)

Net sales
Cost of sales

Three Months ended
June 30, 2020
17,854
15,339Three Months ended
June 30, 2021
18,82015,814Gross profit

2,515

3,006

Selling, general and administrative expenses

1,981

1,838

Operating income

533

1,167

Non-operating income
Interest income
Dividend income
Rent income
Insurance income
Share of profit of entities accounted for using equity method0204
3325790136
32
13496

Other5555

Total non-operating income

875

734

51

35

Other

1024

Total non-operating expenses

62

59

1,347

1,842

33

1,936－－－
84
4

1,939

92

32－
10

Non-operating expenses
Interest expenses

Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
National subsidies
Other
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets

159
192

10Profit before income taxes

3,094

1,924

Income taxes - current
Income taxes - deferred

620

246

54183

Total extraordinary losses

Total income taxes
Profit675

429

2,418

1,495

Profit (loss) attributable to non-controlling interests

(15)

27

Profit attributable to owners of parent

2,434

1,467

―5―

Quarterly Consolidated Statements of Comprehensive Income(Millions of Yen)
Three Months ended
June 30, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans
Share of other comprehensive income of entities
accounted for using equity method

Three Months ended
June 30, 2021

2,418

1,495

(1,246)(0)15(225)(0)
7(2)

4(1,233)(212)

Comprehensive income

1,185

1,282

Comprehensive income attributable toOwners of parent
Non-controlling interests

1,198
(13)

1,255
26

Total other comprehensive income―6―Segment Information
Information on Net Sales, Profit/Loss of Each Reportable Segment
Three Months ended June 30, 2020
(Millions of yen)
Industrial
Material
Net sales
Sales to outside
Intersegment sales andtransfers
Total
Segment profit or loss

HouseholdProducts

SpecialMaterial

Environment
RelatedAdjustment Consolidated(Note 1)(Note 2)

Total

8,620

3,921

4,001

1,310

17,854－

17,854

471

148

52

511

1,183

(1,183)

－

9,091

4,069

4,053

1,822

19,037(1,183)

17,854

255

181

182

(48)

571

(37)

533

Three Months ended June 30, 2021
(Millions of yen)
Industrial
Material
Net sales
Sales to outside
Intersegment sales andtransfers
Total
Segment profit or loss

HouseholdProducts

SpecialMaterial

Environment
Related

Total

Adjustment Consolidated(Note 1)
(Note 2)

8,755

4,965

3,997

1,101

18,820－18,820

465

99

49

535

1,149

(1,149)－9,2205,065

4,047

1,636

19,969(1,149)18,820

305

829

210

(144)

1,201

(33)

1,167

Notes:
1. “Adjustment” comprises the following:

Segment profit

Corporate expenses
Elimination, etc.
Total

Three Months ended
June 30, 2020
(66)
29
(37)

Three Months ended
June 30, 2021
(63)
30
(33)

2. Segment profit total was adjusted to be consistent with the operating income recorded on the Consolidated

Statements of Income.

―7―