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 Six Months Ended September 30, 2021
(Based on Japanese GAAP)
November 11, 2021
Company name:
ISEWAN TERMINAL SERVICE CO.,LTD.
Stock exchange listing: Nagoya
Stock code:
Representative:

9359
PresidentURL

https://www.isewan.co.jp/
Masanobu Takami

Inquiries:
Executive Managing Director
Scheduled date to file Quarterly Securities Report:

Akihiko Takahashi
November 12, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

December 6, 2021
No

Holding of quarterly financial results meeting:

NoTEL

052-661-5181(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)(1) Consolidated operating results (cumulative)

Six months ended September 30, 2021Six months ended September 30, 2020

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%
23,664
–
1,077
–
1,335
–
816
–
20,397 (18.1)
164 (88.2)
332 (79.7)
206 (80.0)
Earnings per share

Diluted earnings per share

Yen
32.90
8.32

Six months ended September 30, 2021
Six months ended September 30, 2020

Yen––(2) Consolidated financial position
Total assets
As of September 30, 2021
As of March 31, 2021

Net assets

Millions of yen
46,05844,859Equity ratio

Millions of yen
35,86734,984%75.4
75.5

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
11.00
11.00

Yen–

Yen
12.00

Yen
23.00

–

11.00

22.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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
Full year
50,00019.7
2,500 162.0
2,900 122.8
1,850 123.7
74.58

1

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2021
(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:

Yes
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 September 30, 2021

27,487,054 shares As of March 31, 2021

27,487,054 sharesNumber of treasury shares at the end of the period
As of September 30, 2021

2,681,595 shares As of March 31, 2021

2,681,341 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2021

24,805,549 shares Six months ended September 30, 2020

224,805,741 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2021

As of September 30, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade9,794,605
6,955,176

10,415,793–

Notes and accounts receivable - trade, and contract assets
Other–
1,096,508

7,174,079
1,482,313

Allowance for doubtful accounts
Total current assets(11,522)(10,466)

17,834,768

19,061,720

6,382,623

6,234,956

860,978
12,901,649

938,869
12,958,093

126,147
2,732

114,932
1,611

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Leased assets, net
Construction in progress
Other, net

443,535

397,431

20,717,666

20,645,894

Other

112,965

101,529

Total intangible assets

112,965

101,529

Investment securities
Investments in capital

4,031,260
1,760

4,133,674
1,760

Long-term loans receivable
Deferred tax assets

723,549
1,039,047

649,306
1,044,321

Other
Allowance for doubtful accounts

468,783(69,997)451,163(30,760)

Total investments and other assets

6,194,403

6,249,465

27,025,036

26,996,890

44,859,805

46,058,610

Total property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets3

(Thousands of yen)
As of March 31, 2021

As of September 30, 2021

Liabilities
Current liabilities
Accounts payable - trade

3,170,704

2,849,609

Short-term borrowings
Current portion of long-term borrowings

66,396
16,24566,396
17,371

Lease obligations
Income taxes payable

161,252
221,467

128,644562,903

Provision for bonuses
Other854,417
1,191,581

853,494
1,491,306

Total current liabilities

5,682,064

5,969,725

Non-current liabilities
Long-term borrowings

158,036

151,943

Lease obligations
Retirement benefit liability

256,633
3,458,994

242,7463,538,339

Asset retirement obligations
Other

216,063103,281

186,607
102,065

Total non-current liabilities

4,193,009

4,221,703

9,875,074

10,191,428

Shareholders' equity
Share capital

2,046,941

2,046,941

Capital surplus
Retained earnings

1,464,060
30,741,657

1,464,060
31,250,451

Total liabilities
Net assets

Treasury shares(1,218,319)(1,218,501)

Total shareholders' equity

33,034,340

33,542,952

1,208,431(426,782)

1,291,557(168,670)

73,96767,802

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

855,615

1,190,690

Non-controlling interests

Total accumulated other comprehensive income

1,094,775

1,133,539

Total net assets

34,984,731

35,867,182

44,859,805

46,058,610

Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Six months endedSix months ended

September 30, 2020

September 30, 2021

Net sales
Cost of sales

20,397,653
16,399,972

23,664,206
18,530,790

Gross profit

3,997,681

5,133,415

Selling, general and administrative expenses

3,832,894

4,056,136

164,786

1,077,279

Interest income
Dividend income

27,021
39,12018,85540,372Foreign exchange gains
Share of profit of entities accounted for using equity method–
10,63023,766
18,835

Rental income
Other53,360112,513

52,349113,302

Total non-operating income

242,645

267,481

Operating profit
Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets

5,902

6,231

65,645
2,043

–
1,802

978

1,495

74,5699,529

332,862

1,335,231

3,115

3,498

Gain on sale of investment securities

5,499

1,331

Total extraordinary income

8,615

4,830

Loss on sale of non-current assets
Loss on retirement of non-current assets

–
1,857

16
2,678

Loss on valuation of investment securities
Loss on valuation of membership

3,145––
150

Total extraordinary losses

5,002

2,844

Profit before income taxes

336,474

1,337,217

Income taxes - current
Income taxes - deferred

179,953(20,719)524,080(51,215)

Total income taxes

159,234

472,865

Profit177,240

864,351

Extraordinary losses

Profit (loss) attributable to non-controlling interests(29,207)48,316

Profit attributable to owners of parent

206,447

816,035

5

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

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2020

September 30, 2021

177,240

864,351

259,278(342,141)

79,907258,388

19,665(6,164)

3,831

4,347

(59,366)

336,478

Comprehensive income

117,873

1,200,830

Comprehensive income attributable toComprehensive income attributable to owners of parent

150,281

1,151,109(32,407)49,720

Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive incomeComprehensive income attributable to non-controllinginterests

6