Translation
Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2020
(Based on Japanese GAAP)
July 10, 2020
Company name: ADEKA CORPORATION
Stock exchange listing: Tokyo
Code number: 4401
URL: https://www.adeka.co.jp
Representative: HIDETAKA SHIROZUMEPRESIDENT AND CHIEF OPERATING OFFICER
Contact: FUMITAKE KOYAE
GENERAL MANAGER, LEGAL AFFAIRS & PUBLICITY DEPARTMENT
Phone: 03-4455-2803
Date of Annual General Meeting of Shareholders: June 29, 2020
Scheduled date of Continued Session of Annual General Meeting of Shareholders: August 06, 2020
Scheduled date of filing annual securities report: August 06, 2020
Date of commencing dividend payments: June 30, 2020
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (April 01, 2019 to March 31, 2020)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to owners
Net sales
Operating profit
Ordinary profitof parent
Million yen%
Million yen%
Million yen%
Million yen%
Fiscal year ended
March 31, 2020
304,131
1.6
22,517(15.5)
21,976(17.4)
15,216(10.8)
March 31, 2019299,354
24.9
26,63824.9
26,602
19.1
17,055
11.1(Note) Comprehensive income:Fiscal year ended March 31, 2020:¥11,632 million [(18.1) %]Fiscal year ended March 31, 2019:¥14,208 million [(33.3) %]Basic earnings per
Rate of return on Ordinary profit to Operating profit toDiluted earnings per shareshareequity
total assets ratio
net sales ratio
Yen
Fiscal year ended
March 31, 2020
147.69March 31, 2019165.78(Reference) Equity in earnings (losses) of affiliated companies:

Yen%

7.3
8.5
Fiscal year ended March 31, 2020:
Fiscal year ended March 31, 2019:

%%

5.3
7.3
¥¥

7.4
8.9
534 million
419 million(2) Consolidated Financial Position
Total assetsAs ofMarch 31, 2020
March 31, 2019
(Reference) Equity:

Net assets

Million yen

409,452
414,549
As of March 31, 2020:
As of March 31, 2019:

Capital adequacy ratio

Million yen¥¥

Net assets per share%

Yen

51.4
49.4

2,036.98
1,986.53

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

250,634
244,500
210,266 million
204,580 million(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2020
March 31, 2019

Cash flows frominvesting activities

Million yen

Million yen

Million yen

Million yen

27,39818,331(15,228)(18,258)(7,496)
8,995

60,88856,504

2. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total

Total
dividends

Payoutratio(consolidated)

Dividends
to netassets(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%March 31, 2019

-

21.00

-

24.00

45.00

4,661

27.1

1.9

March 31, 2020

-

24.00

-

24.00

48.00

4,975

32.5

2.0-----

Fiscal year ending
March 31, 2021-

(Forecast)(Note) Dividends forecast for the fiscal year ended March 31, 2020 is currently undecided.To be announced.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021 (April 01, 2020 to March 31, 2021)(Note) Undecided at this time.To be announced.
* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2020:
103,714,442 shares
March 31, 2019:
103,651,442 shares2) Total number of treasury shares at the end of the period:
March 31, 2020:
490,003 shares
March 31, 2019:667,521 shares
3) Average number of shares during the period:
Fiscal Year ended March 31, 2020:
Fiscal Year ended March 31, 2019:

103,028,115 shares
102,879,020 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (April 01, 2019 to March 31, 2020)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating profit
Ordinary profit
Net income
Million yen%
Million yen%
Million yen%
Million yen%
Fiscal year ended
March 31, 2020
128,600(4.5)
9,973(18.3)
13,162(16.5)
11,869(5.0)
March 31, 2019
134,612
2.5
12,210(6.7)
15,7672.1
12,493
7.5

Basic earnings per share
Fiscal year ended
March 31, 2020
March 31, 2019(2) Non-consolidated Financial Position
Total assets
Million yen
As ofMarch 31, 2020
233,347
March 31, 2019
235,007(Reference) Equity: As of March 31, 2020:
As of March 31, 2019:

Diluted earnings per share
Yen

Yen

114.53120.62-Net assets

Capital adequacy ratio

Million yen¥¥

161,311
158,286
161,311 million
158,286 million

Net assets per share%Yen

69.1
67.4

1,556.25
1,527.98

Consolidated Financial Statements
Consolidated Balance Sheets(Million yen)
As of March 31,2019
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - tradeSecurities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
OtherAccumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Technical assets
Customer-related assets
SoftwareLeased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of March 31,2020

58,58593,416
3,006
40,3306,395
23,3798,420(447)
233,087

62,82784,7651,500
41,3125,715
22,0239,921(430)
227,635

83,826(51,484)
32,341
160,760(124,519)
36,24029,802
2,342(1,559)782
4,829
33,002(28,325)
4,676
108,672

86,619(53,153)
33,465
169,816(129,558)
40,25829,397
1,459
(927)
532
2,873
36,298(29,595)
6,702
113,230

9,450
3,131
1,771
179
3,063
17,596

8,455
2,971
1,757
110
3,074
16,37037,293
4,328
431
4,438
9,251
(551)
55,193
181,462
414,549

31,335
5,844
1,086
5,980
8,527
(558)
52,216
181,816
409,452

(Million yen)
As of March 31,2019Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease obligations
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for environmental measures
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Lease obligations
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of March 31,2020

56,296
21,718
401
4,197
3,079

46,125
21,823
303
3,700
3,145

85

79

595
20,782
107,156

17,52592,704

11,812
19,617
843
4,940
3,414

12,24920,297
600
4,474
3,414

225

260

18,853
3,185
62,893
170,049

20,072
4,742
66,114
158,818

22,94420,023
148,630(825)
190,772

22,994
19,986
158,872(441)
201,412

10,098

6,541

4,253
1,867
(2,411)13,80739,919244,500
414,549

4,253
155(2,096)
8,854
40,367
250,634
409,452

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year
ended March 31,2019
Net sales
Cost of salesGross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on step acquisitions
Gain on bargain purchase
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Loss on sales of non-current assets
Loss on valuation of investment securities
Environmental expenses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the fiscal year
ended March 31,2020

299,354
224,828
74,52647,88826,638304,131
224,575
79,55557,03822,517

342
628

491
799

419

534

728
2,117

718
2,544

666
468
1,018
2,153
26,602

1,116
1,216
752
3,085
21,976

67
205
272

530
1,291
1,822

336
336
26,539
6,888
252
7,140
19,3982,342
17,055

344
128
98
278
851
22,947
5,923(276)5,646
17,3002,084
15,216

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended March 31,2019ProfitOther comprehensive income
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 income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the fiscal year
ended March 31,2020

19,39817,300(1,999)(2,906)(59)(4,143)(2,330)
461

(223)

344

(5,190)14,208(5,668)
11,632

12,63010,262

1,578

1,369

Consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31,2019(Million yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginning ofperiod
Changes during period

22,944

19,985Retainedearnings
135,988

Treasuryshares(554)

Issuance of new shares

Balance at end of period

178,363-

Dividends of surplus
Profit attributable to ownersof parent
Change in scope ofconsolidation
Reversal of revaluation
reserve for land
Purchase of treasury shares
Disposal of treasury shares
Change in ownershipinterest of parent due totransactions with
non-controlling interests
Net changes in items otherthan shareholders' equity
Total changes during period

Totalshareholders'equity(4,436)(4,436)

17,055

17,055
56

22(0)

56
22(787)

(787)

459

458

39

39--

38

12,642(271)

12,40922,944

20,023

148,630(825)

190,772

Accumulated other comprehensive income
Valuation
Revaluationdifference on
reserve foravailable-for-salelandsecurities
Balance at beginning of
periodChanges during period

12,002

4,276

Foreigncurrencytranslation
adjustment
4,346

Total
Remeasurements accumulated Non-controlling Total net
interests
assetsof definedotherbenefit plans comprehensiveincome(2,368)18,256

8,468

205,088

Issuance of new shares--Dividends of surplus
Profit attributable to ownersof parent
Change in scope of
consolidation
Reversal of revaluation
reserve for land
Purchase of treasury shares-(4,436)-

17,055

-

56

-

22-

(787)

Disposal of treasury shares
Change in ownershipinterest of parent due totransactions withnon-controlling interests
Net changes in items otherthan shareholders' equity
Total changes during period

-

458

-

39

Balance at end of period(1,904)(22)(2,478)(43)(4,448)31,45127,002(1,904)(22)(2,478)(43)(4,448)31,451

39,412

10,098

4,253

1,867

(2,411)13,80739,919244,500

For the fiscal year ended March 31,2020(Million yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginning ofperiod
Changes during period
Issuance of new shares

22,94420,02350

50

Dividends of surplus
Profit attributable toowners of parent
Change in scope of
consolidation
Reversal of revaluation
reserve for land
Purchase of treasury shares
Disposal of treasury shares
Change in ownershipinterest of parent due totransactions with
non-controlling interests
Net changes in items otherthan shareholders' equity
Total changes during
periodBalance at end of period

Retainedearnings
148,630

Totalshareholders'equityTreasuryshares(825)

190,772

100(4,973)(4,973)

15,216

15,216
(3)

(3)

(100)

387

286

12

0

13-50(37)

10,242384

10,63922,994

19,986

158,872(441)

201,412

Accumulated other comprehensive income
Valuation
Revaluationdifference on
reserve foravailable-for-salelandsecurities
Balance at beginning ofperiod
Changes during period

10,0984,253

Foreigncurrencytranslation
adjustment
1,867

Total
Remeasurements accumulated Non-controlling Total net
interests
assetsof definedotherbenefit plans comprehensive
income(2,411)13,80739,919244,500

Issuance of new shares-

100

Dividends of surplus
Profit attributable to ownersof parent
Change in scope ofconsolidation
Reversal of revaluation
reserve for land
Purchase of treasury shares-(4,973)-

15,216

-

-

-

-

-

(3)

Disposal of treasury shares
Change in ownershipinterest of parent due totransactions withnon-controlling interests
Net changes in items otherthan shareholders' equity
Total changes during period

-

286

-

13

Balance at end of period(3,556)-(1,712)315(4,953)(3,556)-

6,541

4,253447(4,505)(1,712)315(4,953)

447

6,133

155

(2,096)

8,854

40,367

250,634

Consolidated Statements of Cash Flows(Million yen)
For the fiscal year
ended March 31,2019
Cash flows from operating activities
Profit before income taxes
Depreciation
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss on abandonment of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of securities
Proceeds from sales and redemption of securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of shares of subsidiaries and associates
Long-term loan advances
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Redemption of bonds
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

For the fiscal year
ended March 31,2020

26,53911,659(970)
666

22,947
14,248(1,291)
1,116(419)

(534)

336
(16,143)(4,780)6,185
1,283
24,356
1,188(674)(6,538)18,331

344
7,283
(151)
(9,371)(1,034)33,5571,449(1,006)(6,601)
27,398(10,600)
15,198(16,425)
76(916)(825)
29(7)(3,159)(6,000)7,500(16,806)
1,498(1,217)
(38)
1,964
(0)
(1,622)(1,543)-(85)(18,258)(505)(15,228)

2,924
9,421
(7,956)
10,100(300)(4,433)
(724)
(35)
8,995

474
5,594
(7,979)2,446(1,630)(4,972)(1,095)(333)(7,496)(1,465)

(290)

7,602
48,90256,504

4,383
56,50460,888