Value Creation Story

Business Overview

ESG Activities

Corporate Information

Consolidated Financial Statements
Consolidated Balance Sheets(¥ millions)(¥ millions)74

FY 2021 (As of March 31, 2021)

FY 2022 (As of March 31, 2022)

AssetsCurrent assets
Cash and time deposits
Trade notes and accounts receivable
Trade notes
Electronically recorded monetary claims-operating
Accounts receivable
Contract assets
Inventories
Other current assets
Allowance for doubtful accounts
Non-current assets
Property, plant and equipment
Buildings and structures (net)
Machinery and transportation equipment (net)Fixtures, equipment and tools (net)Land
Construction in progress
Other property, plant and equipment
Intangible fixed assets
Investments and other assets
Investment securities
Claims provable in bankruptcy, claims provable in rehabilitation and otherDeferred income tax assets
Net defined assets for retirement benefits
Other investments
Allowance for doubtful accounts
Total assets

538,416
303,887
115,950－
12,957－－73,751
32,239△ 370
243,747
171,615
53,49369,993
14,391
15,561
17,457718
3,125
69,00556,570
18
7,755
2,556
2,244
△ 139
782,163

579,086
323,943
－
3,797
9,888
113,437
918
90,76036,723△ 382
276,150
182,608
55,83175,334
17,453
16,181
17,054752
3,103
90,43873,85616
10,863
2,804
3,034
△ 136
855,237

Liabilities
Current liabilities
Trade notes and accounts payable
Electronically recorded monetary obligations-operating
Short-term loans
Accrued expenses
Income taxes payable
Allowance for employees’ bonuses
Reserve for product warranties
Other current liabilities
Non-current liabilities
Long-term debt
Deferred income tax liabilities
Allowance for directors’ and corporate auditors’ retirement benefits
Reserve for product warranties
Allowance for environmental strategies
Net defined liability for retirement benefits
Other non-current liabilities
Total liabilities

171,928
95,9897,867
20,71523,366
5,267
5,420
2,622
10,67940,796
230
7,938
275
5,641
17
24,701
1,991
212,724

181,404
102,641
5,050
24,531
23,781
7,319
5,527
3,108
9,445
46,517490
15,473298
5,151
10
23,097
1,995
227,922

KOITO INTEGRATED REPORT 2022

FY 2021 (As of March 31, 2021)

FY 2022 (As of March 31, 2022)

507,813
14,27013,380480,214△ 52
29,792
23,690
4,291
1,810
222
31,610569,438
782,163

537,578
14,27013,399509,958△ 49
53,37923,56027,924
1,895
199
36,157627,315855,237

Net assets
Shareholders’ equity
Common stock
Additional paid-in capital
Retained earnings
Treasury common stock, at cost
Accumulated other comprehensive income
Valuation adjustment on marketable securities
Translation adjustments
Adjustments in defined benefit plans
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assetsConsolidated Statements of Income and Loss(¥ millions)

FY 2021Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends
Foreign exchange gains
Gain on operation of investment business association
Royalty income, otherSubsidies for employment adjustment
Other non-operating income
Non-operating expenses
Interest expenses
Shares of loss of entities accounted for using equity method
Other non-operating expenses
Recurring profit
Extraordinary gains
Extraordinary losses
Income before income taxes
Total income taxes
Net income(Breakdown)
Profit attributable to owners of parent
Profit attributable to non-controlling interests

FY 2022706,376
609,132
97,24440,53756,707
6,100
1,190
1,050
10－475
676
2,697
1,700
581
595
524
61,107265
1,943
59,42918,96940,460760,719664,669
96,05042,61553,434
9,157
1,329
1,271
1,793
1,092
553
350
2,766
1,978
781
656
539
60,613
1,117
558
61,172
19,18841,984

37,612
2,848

38,3403,644

KOITO INTEGRATED REPORT 2022 75

Value Creation Story

Business Overview

ESG Activities

Corporate Information

Consolidated Financial Statements
Consolidated Statements of Changes in Shareholders’ Equity
FY 2021(April 1, 2020 to March 31, 2021)(¥ millions)Shareholder’s equity
Additional
Common stock
paid-in capital
14,27013,373

Balance at beginning of yearCumulative effects of changes inaccounting policies
Restated balance
Changes during fiscal year
Dividends from retained earnings
Profit attributable to owners of parent
Purchases of treasury stock
Disposal of treasury stockC hanges in items other than shareholders’equity during fiscal year (net)Total changes during fiscal year
Balance at fiscal year-end－－－－－

14,27013,373449,031△ 53476,622－－－－－－－
7△ 6,429
37,612－－－－△11△ 6,429
37,612
△19－

－－－－

－
14,2707
13,38031,182
480,2140△ 52

31,190507,813

Accumulated other comprehensive income

Balance at beginning of yearCumulative effects of changes inaccounting policies
Restated balance
Changes during fiscal year
Dividends from retained earnings
Profit attributable to owners of parent
Purchases of treasury stock
Disposal of treasury stockC hanges in items other than shareholders’equity during fiscal year (net)Total changes during fiscal year
Balance at fiscal year-end

Accumulated other comprehensive income

Retained
Treasury common Total shareholders’earnings
stock, at costequity449,031△ 53
476,622

Valuation adjustment
Adjustments of Total accumulatedTranslation
on marketabledefined benefit other comprehensive
adjustments
securities
plans
income14,822△ 9,333△ 1,608
3,880

Subscription
NonTotal net
rights to controlling
assetssharesinterests
231

32,789513,524－－－－－－－

14,822△ 9,333△ 1,608

3,880

231

32,789513,524－－－－－－－－－－－－－－－－－－－－－－－－△ 6,429
37,612△198,867

13,625

3,418

25,911△ 9 △ 1,178

24,723

8,867
23,69013,625
4,291

3,418
1,810

25,911
29,792△ 9 △ 1,178
222
31,61055,914569,438

FY 2022(April 1, 2021 to March 31, 2022)(¥ millions)Shareholder’s equity
Additional
paid-in capital
14,27013,380Common stock
Balance at beginning of yearCumulative effects of changes inaccounting policiesRestated balance
Changes during fiscal year
Dividends from retained earnings
Profit attributable to owners of parent
Purchases of treasury stock
Disposal of treasury stockC hanges in items other than shareholders’equity during fiscal year (net)Total changes during fiscal year
Balance at fiscal year-end

76

KOITO INTEGRATED REPORT 2022－－

Retained
Treasury common Total shareholders’earnings
stock, at costequity480,214△ 52
507,81383－

83

14,27013,380480,297△ 52507,897－－－－－－－
18△ 8,679
38,340－－－－△14△ 8,679
38,340△123－－－－－－
14,27018
13,39929,660509,958

3△ 49

29,681
537,578

Balance at beginning of yearCumulative effects of changes inaccounting policies
Restated balance
Changes during fiscal year
Dividends from retained earnings
Profit attributable to owners of parent
Purchases of treasury stock
Disposal of treasury stockC hanges in items other than shareholders’equity during fiscal year (net)Total changes during fiscal year
Balance at fiscal year-end

Valuation adjustment
Adjustments of Total accumulated
Translation
on marketabledefined benefit other comprehensive
adjustments
securities
plans
income23,6904,291
1,810
29,792

Subscription
NonTotal net
rights to controlling
assetssharesinterests
222

31,610569,438

－

－－－

－

－

83

23,690

4,291

1,810

29,792

222

31,610569,522

－
－
－
－

－－
－－－－－－－－
－
－

－
－
－
－

－
－
－
－

△ 8,679
38,340△123△ 129

23,632

84

23,587

△ 23

4,546

28,110△ 129
23,56023,632
27,92484
1,895

23,58753,379

△ 23
199

4,546
36,157

57,792
627,315

Consolidated Statements of Cash Flows(¥ millions)

FY 2021(April 1, 2020 to March 31, 2021)

FY 2022(April 1, 2021 to March 31, 2022)

Income before income taxes

59,42961,172

Depreciation

37,96235,811

Increase or decrease in trade notes and accounts receivable△ 7,796

7,213

Increase in inventories△ 8,429△ 10,191

7,635△ 1,892

Increase or decrease in trade notes and accounts payable△ 16,567△ 13,392

Others2,728△ 13,014

Cash flows from operating activities

74,96265,707

Increase or decrease in time deposits

29,101△ 7,714Acquisition of property and equipment△ 33,533△ 28,932

3,339△ 15,505

Cash flows from investing activities△ 1,093△ 52,151

Increase or decrease in loans△ 9,501

1,194

Dividends paid

△ 8,820△ 9,682△3△3△ 18,324△ 8,491

Income taxes paid

OthersOthersCash flows from financing activities
Effect of exchange rate changes on cash and cash equivalents

2,108

2,661

Increase in cash and cash equivalents

57,652

7,726

Cash and cash equivalents at beginning of year

104,202

161,855

Cash and cash equivalents at end of year

161,855

169,581KOITO INTEGRATED REPORT 2022 77