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)
February 10, 2021
Company name:
YAMAZEN CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

8051
URL
President, CEO

https://www.yamazen.co.jp/Yuji NAGAO

Inquiries:
Manager, IR & PR Dept.
Scheduled date to file Quarterly Securities Report:

Hayato HIRATA
February 12, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

06-6534-3003(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)

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

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%
318,676 (12.4)
7,915 (14.7)
7,869 (14.0)
5,314 (11.0)
363,751(9.4)
9,277 (32.5)
9,146 (32.7)
5,974 (35.2)
Earnings per share

Diluted earnings per share

Yen
56.32
63.21

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
233,212230,320

Equity ratio

Millions of yen
103,041
95,439Net assets per share
%
44.0
41.3

Yen
1,087.41
1,007.30

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
16.00
10.00

Yen––

Yen
14.00

Yen
30.00

10.00

20.00

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)
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
430,000(8.9)
10,000 (17.3)
10,000 (15.9)
6,800 (15.9)
72.06

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

95,305,435 shares As of March 31, 2020

95,305,435 shares

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

937,995 shares As of March 31, 2020

937,956 shares

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

94,367,459 shares Nine months ended December 31, 2019294,516,001 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

57,587
85,20054,46080,459

Electronically recorded monetary claims - operating
Securities

14,016
11,000

16,116
12,000

Merchandise and finished goods
Other

27,0993,339

26,877
2,766

Allowance for doubtful accounts
Total current assets

(526)

(404)

197,717

192,275

2,333

4,127

90
776

104
835

3,580
3,690

3,694
3,466

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net
Land
Leased assets, net
Other, net

1,562754Total property, plant and equipment

12,034

12,983

Intangible assets

6,343

7,570

Investments and other assets
Investment securities

11,72017,665Distressed receivables
Retirement benefit asset

85
610

79866

Deferred tax assets
Other356
1,620

288
1,645

Allowance for doubtful accounts

(167)

(161)

Total investments and other assets

14,225

20,38332,60340,936230,320233,212

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2020

As of December 31, 2020

Liabilities
Current liabilities
Notes and accounts payable - tradeElectronically recorded obligations - operating
Short-term borrowings
Lease obligations
Income taxes payable
Provision for bonuses
Provision for voluntary recall of goods
Other

57,75857,67156,039174

49,813
30

394
662

425
951

2,381
32

1,331
32

9,492

9,982

126,935

120,237

Long-term borrowings
Lease obligations–4,405

143
4,157

Deferred tax liabilities
Retirement benefit liability

1,652
328

3,796
335

Other

1,558

1,500

Total non-current liabilities

7,945

9,933

134,881130,171

Share capital
Capital surplus

7,909
7,561

7,9097,561

Retained earnings
Treasury shares

77,604(957)

80,628(957)

Total shareholders' equity

92,11895,141

Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

4,447

8,709

Deferred gains or losses on hedges
Foreign currency translation adjustment

68
379

(45)
447

Remeasurements of defined benefit plans(1,956)(1,638)

Total accumulated other comprehensive income

2,938

7,473

382

425

95,439103,041

230,320233,212

Non-controlling interests
Total net assets
Total liabilities and net assets

4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

363,751
315,225

318,676
272,690

Gross profit

48,52645,985

Selling, general and administrative expenses

39,24938,069Operating profit

9,277

7,915

1,201
223

1,011
182

119

242

1,544

1,436Interest expenses
Other

1,576
99

1,343
139

Total non-operating expenses

1,675

1,482

9,146

7,869

Gain on sales of non-current assets
Gain on sales of investment securities

0–0106

Total extraordinary income

0106–0Loss on retirement of non-current assets
Loss on sales of investment securities

901–

Loss on valuation of golf club membership
Impairment loss

18113

–––

25

Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sales of non-current assets

Loss on liquidation of subsidiaries

14127

Profit before income taxes

Total extraordinary losses

9,005

7,949

Income taxes - current

2,525

2,303

Income taxes - deferred

466

267

Total income taxes

2,992

2,571

Profit

6,013

5,377

Profit attributable to non-controlling interests
Profit attributable to owners of parent

538

63

5,974

5,314

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2019December 31, 2020

6,013

5,377

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

1,026
79

4,262(114)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

(152)
305

96
318

Total other comprehensive income

1,259

4,563

7,272

9,940

7,237

9,898

3442

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6