Trusco Nakayama Corporation
Nonconsolidated Balance Sheet
December 31, 2019
Millions of Yen2019
2018

ASSETS
CURRENT ASSETS:
Cash and cash equivalents
Accounts receivable - trade
Electronically-recorded monetary claims
Merchandise
Other current assets
Allowance for doubtful accounts
Total current assets¥17,835
26,346
1,707
42,782792
89,462¥

11,68625,845
1,674
37,004
2,008
78,217

Thousands ofU.S. Dollars*
2019$

LIABILITIES AND EQUITYCURRENT LIABILITIES:
Accounts payable - trade
Short-term borrowings
Other payables
Income taxes payableAccrued expenses
Deposits received
Other current liabilities

162,805
240,498
15,579390,525
7,228(2 )Net property, plant and equipment
INVESTMENTS AND OTHER ASSETS:
Investments in subsidiaries and affiliated companies
Investment securities
Software and software in progress
Security deposits
Deferred tax assets
Deferred tax assets on land revaluation
Other assets
Allowance for doubtful accounts
Total investments and other assets

30,35258,295
8,852
4,712
15,450117,661(26,802 )29,69756,740
5,981
4,143
5,593
102,154(23,439 )277,056
532,134
80,80043,014141,032
1,074,036(244,655 )

90,85978,715829,381

4,616
1,724
8,491
299
843
158
180(7 )

4,616
1,215
5,894
313
910
158
186
(7 )

42,13915,73477,510
2,730
7,697
1,439
1,647
(68 )

16,304

13,285

148,828¥ 196,625¥ 170,217$ 1,794,842

LONG-TERM LIABILITIES:Long-term borrowings
Deposits received for guarantees
Retirement allowances for directors and the Audit andSupervisory Board members
Total long-term liabilities
EQUITY :Common stock
Capital surplus:
Additional paid-in capital
Other capital surplus
Retained earnings:
Legal reserve
UnappropriatedUnrealized gain on available-for-sale securities
Land revaluation difference
Treasury stock
Total equity
TOTAL

TOTAL

¥

15,69417,000
5,769
2,448
124
291
12

¥

15,158

Thousands ofU.S. Dollars*
2019
$

3,944
2,734
166
286
23

143,257
155,180
52,65922,348
1,131
2,655
117

41,33822,311

377,347

25,0002,086

25,0002,106

228,206
19,041

152

152

1,383

27,23827,258248,630

5,022

5,022

45,845

4,710
1

4,710
1

42,993111,256
116,923570(358 )(75 )

1,256
109,648442(358 )(73 )

11,461
1,067,307
5,197(3,263 )(686 )

128,049

120,648

1,168,865¥ 196,625¥ 170,217$ 1,794,842

816,633
Total current liabilities

PROPERTY, PLANT AND EQUIPMENT:Land
Buildings and structures
Machinery, equipment and vehicles
Furniture and fixtures
Construction in progress
Total
Accumulated depreciation

Millions of Yen
2019
2018

* The translations of Japanese yen amounts into U.S. dollar amounts have been made at the rate of ¥109.55 to $1, the approximate
rate of exchange at December 31, 2019.

-1-Trusco Nakayama Corporation
Nonconsolidated Statement of Income
Year Ended December 31, 2019
Millions of Yen
2019
2018
NET SALES

Thousands ofU.S. Dollars*
2019¥ 220,357¥ 214,297$ 2,011,477

COST OF GOODS SOLD

173,501

168,805

1,583,762

Gross profit

46,85645,492427,715SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES

32,93531,128300,637

Operating income

13,921

14,364

127,078

30
(68 )
1,895
(1,841 )
1531(45 )
1,856(1,824 )

277(622 )
17,297(16,808 )135(27 )(208 )(244 )

366(87 )
260

3,338

370(17 )3,373

INCOME BEFORE INCOME TAXES

14,291

14,347130,451

INCOME TAXES :Current
Deferred

4,565
11

4,618
6

41,671
98

4,576

4,624

41,769OTHER INCOME (EXPENSES) :Interest and dividend income
Interest expenses
Purchase discounts
Sales discounts
Gain on sales of investment securities
Loss on sales and disposals of property, plantand equipment
Impairment loss on property, plant andequipment
Other - net
Other income (expenses) - net

Total income taxes
NET INCOME¥9,715¥

9,723

YenPER SHARE OF COMMON STOCK :Basic net income
Cash dividends applicable to the year

¥ 147.32
36.50$88,682

U.S. Dollars*¥ 147.44
37.00$ 1.34
0.33* The translations of Japanese yen amounts into U.S. dollar amounts have been made at the rate of ¥109.55 to $1, theapproximate rate of exchange at December 31, 2019.

-2-

Trusco Nakayama Corporation
Nonconsolidated Statement of Changes in Equity
Year Ended December 31, 2019

BALANCE, JANUARY 1, 2018

Thousands ofShares
Outstanding
Number ofShares ofCommon Stock
65,945

Millions of Yen

CommonStock

Capital Surplus
Additional
Other
Paid-in
CapitalCapitalSurplus

Legal
Reserve

UnappropriatedUnrealized
Gain onAvailable-for-Sale
Securities¥ 5,022¥ 4,710¥ 1,256¥ 102,431

690

Retained Earnings¥1Net income
Cash dividends, ¥38.0 per share
Purchase of treasury stock
Disposal of treasury stock
Net change in the year
BALANCE, DECEMBER 31, 2018

Land
Revaluation
Difference

TreasuryStock

TotalEquity¥¥ (71 )

¥ 113,681(358 )

9,723(2,506)

9,723(2,506)(2)(2 )(248 )
65,945

Net income
Cash dividends, ¥37.0 per share
Purchase of treasury stock
Disposal of treasury stock
Net change in the year

(1 )BALANCE, DECEMBER 31, 201965,944

5,022

4,710

1

1,256

109,648

(248)

442

(358 )(73 )

120,648

(2 )

9,715
(2,440)(2)

9,715(2,440)128¥ 5,022¥ 4,710¥1¥ 1,256

CommonStockCapital Surplus
Additional
Other
Paid-in
CapitalCapitalSurplus

Legal
Reserve$ 45,845$ 42,993$ 11,461¥ 116,923

¥ 570

128
¥

(358 )¥ (75 )

¥ 128,049

UnappropriatedUnrealized
Gain onAvailable-for-Sale
Securities

Land
Revaluation
Difference

TreasuryStockTotal
Equity$ 1,000,897$ 4,030$ (3,263 )$ (667 )Thousands of U.S. Dollars*

BALANCE, DECEMBER 31, 2018
Net income
Cash dividends, $0.34 per share
Purchase of treasury stock
Disposal of treasury stock
Net change in the year
BALANCE, DECEMBER 31, 2019

$ 10

Retained Earnings$88,682(22,272)

88,682(22,272)
(19)
1
1,167

(19 )
1
1,167
$ 45,845$ 42,993$ 11$ 11,461$ 1,067,307* The translations of Japanese yen amounts into U.S. dollar amounts have been made at the rate of ¥109.55 to $1, the approximate rate of exchange at December 31, 2019.

-3-$ 5,197$ (3,263 )$ (686 )1,101,306$

1,168,865