TRANSLATED
February14, 2022

Consolidated Financial Results
for the Fiscal Year Ended December 31, 2021
(January 1, 2021 to December 31, 2021)
Company name:
Stock code:
Stock exchange listing (Section):
Head office:
URL:
President:
Contact:

SIIX Corporation
7613
Tokyo Stock Exchange, (First Section)
Osaka, Japan
https://www.siix.co.jp
Koji Yanase
Seiji Ono
Director, Executive Officer and General Manager,
Finance and Accounting Department+81-6-6266-6415
March 30, 2022
March 31, 2022
March 30, 2022

Telephone:
Annual Meeting of Shareholders:
Scheduled date of payment of cash dividends:
Scheduled date of filing financial statement:(Amounts rounded down to million yen)

1. Consolidated Financial Results (January 1, 2021 – December 31, 2021)(1) Consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating income

YoY change(%)

Million yen

Ordinary income

YoY change(%)

Million yen

YoYchange (%)

Million yen

Year ended Dec. 2021

226,833

24.9

4,954

11.3

5,934

33.5

Year ended Dec. 2020

181,598(18.6)

4,452(19.1)

4,444(21.1)

Profit attributable toowners of parent

Net income per share (basic)

Net income per share (diluted)

Yen

Million yen

YoY change(%)

Million yen
Year ended Dec. 2021

4,561

164.6

96.53

96.39

Year ended Dec. 2020

1,724

(53.3)

36.48

35.42

Return on equity

Ratio of ordinary income tototal assets

Ratio of operating income to
net sales%%%Year ended Dec. 2021

7.5

3.8

2.2

Year ended Dec. 2020

3.0

3.1

2.5

(note) Comprehensive income
Year ended December 2021:
Year ended December 2020:(Reference) Equity in net earnings (losses) of affiliates
Year ended December 2021:
Year ended December 2020:

11,324 million yen (y/y ―%)-447 million yen (y/y ―%)-33 million yen-63 million yen(2) Consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2021

169,92166,36938.8

1,393.92

Year ended Dec. 2020

144,436

56,49838.8

1,186.71(Reference) Stockholders’ equity:Year ended December 2021:
Year ended December 2020:

65,879 million yen
56,084 million yen―1―

TRANSLATED(3) Consolidated Cash FlowsNet cash provided by (used in)Operating activities

Investing activities

Financing activities

Million yen

Million yen

Million yen

Cash and cash
equivalents at fiscal
year end
Million yen

Year ended Dec. 2021

(8,106)(7,765)

869

9,315

Year ended Dec. 2020

13,280(6,034)

1,291

22,968

2. Dividends
Annual dividends per share(Base date)

1st quarter

Year ended Dec. 2020

―

14.00

―

15.00

29.00

Year ended Dec. 2021

―

15.00

―

15.00

30.00

Year ended Dec. 2022
(forecasts)

―

15.00

―

16.00

31.00

(Base date)

2nd quarterYen

3rd quarter

Term-end
Yen

Annual dividends
Yen

Amount of dividend (for the year)

Dividend ratio to net income(consolidated)

Dividend ratio to net assets(consolidated)

Million Yen%%

Year ended Dec. 2020

1,370

79.5

2.4

Year ended Dec. 2021

1,417

31.1

2.3

Year ended Dec. 2022
(forecasts)

24.4

─

─

3. Consolidated Business Performance Forecasts for the Year Ending December 2022
(January 1, 2022 – December 31, 2022)(The percentages in the table below represent changes from the previous fiscal year)
Net sales
Million yen
Full year

Operating income

YoY change(%)

240,000

Profit attributable to owners ofparentMillion yen
Full year

6,000

YoY change(%)

Million yen

5.8

Ordinary income

8,000

61.5

Million yen
8,000

YoY
change (%)
34.8

Net income per share (basic)

YoY change

Yen

(%)

31.5

126.95(note) The company discloses consolidated business performance for full year only because the company manages business performanceon an annual basis.

―2―

TRANSLATED＊ Note(1) Transfer of important subsidiaries during the period (transfer of specific subsidiaries in association with changes in thescope of consolidation):Transfer
Newly consolidated:
PT. SIIX Trading Indonesia
Exclusion:
SIIX Bangkok Co., Ltd.
(2) Changes in accounting policy and accounting estimate, and restatement related to consolidated financial statements(i) Changes associated with the revision of accounting standards: None(ii)Changes other than those described in (i):None(iii)Changes in accounting estimate:None(iv)Restatement:
None(3) Number of outstanding shares (common shares)(i) Number of outstanding shares at the end of the fiscal year (including treasury stock):
Year ended December 2021:
Year ended December 2020:

50,400,000 shares
50,400,000 shares(ii) Number of treasury stock at the end of the fiscal year:
Year ended December 2021:
Year ended December 2020:

3,137,933 shares
3,139,729 shares(iii)Average number of shares outstanding:Year ended December 2021:
Year ended December 2020:

47,260,524 shares
47,257,073 shares(Reference)

1. Non-consolidated Financial Results (January 1, 2021– December 31, 2021)(1) Non-consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating income

Ordinary income

Million yen

YoYchange (%)

YoYchange (%)

Year ended Dec. 2021

92,634

23.7

104

―

9,148

246.7

Year ended Dec.2020

74,910(14.7)

(32)

―

2,639

(2.6)

Million yen

Net income

Million yen

YoY change(%)

Net income per share (basic)

Net income per share (diluted)

Yen

Million yen

Million yen

YoYchange (%)

Year ended Dec. 2021

9,120

293.2

192.99192.73

Year ended Dec. 2020

2,319

1.6

49.09

47.66

(2) Non-consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2021

68,737

20,92630.3

441.13

Year ended Dec. 2020

55,615

13,20223.6

278.09(Reference) Stockholders’ equity:Year ended December 2021: 20,848 million yen
Year ended December 2020: 13,142 million yen*These financial statements have not been prepared for the purpose of review procedures.
*Explanations and other special notes concerning the appropriate use of business performance forecasts
The consolidated business performance forecasts given above are based on the information available at the current time andassumptions of supposable market trends, etc., and thus may greatly differ from future performance for a variety of future reasons.

―3―

TRANSLATED■ Consolidated Financial Statements(1) Consolidated Balance Sheets(JPY in millions)
As of Dec. 31, 2020

As of Dec. 31,2021

AssetsCurrent assets
Cash and deposits

23,1309,484

Notes and accounts receivable-trade

37,05747,278Merchandise and finished goods

19,274

22,261Work in process

1,376

1,903

Raw materials and supplies

15,88034,075

Other

7,574

7,845

Allowance for doubtful accounts

(39)

(50)

104,254

122,797

21,93927,673

Accumulated depreciation(8,387)(10,286)

Buildings and structures, net

13,551

17,386

Machinery, equipment and vehicles

39,09545,858

Accumulated depreciation(28,520)(33,427)

Machinery, equipment and vehicles, net

10,575

12,431

3,508

3,977

(2,667)(3,079)

840

897

Land

3,815

3,893

Construction in progress

1,021

981

Other

3,398

3,322

Accumulated depreciation(1,135)(1,149)Other, net

2,262

2,173

32,06637,764

Software

1,581

2,075

Other

839

514

2,421

2,590

Investment securities

2,101

2,385

Investments in capital

958

957

Long-term loans receivable

62

63

Assets for retirement benefits

360

430

Deferred tax assets

1,554

2,058

Other

1,178

976

Allowance for doubtful accounts

(523)

(102)

5,693

6,768

40,181

47,123

144,436

169,921

Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets

Total Investments and other assets
Total noncurrent assets
Total assets―4―

TRANSLATED(JPY in millions)

As of Dec. 31, 2020

As of Dec. 31, 2021

Liabilities
Current liabilities
Accounts payable-trade

27,48137,298

Short-term loans payable

23,81031,561

Income taxes payable

1,710

1,667

Other

6,852

9,306

59,85579,833

Bonds with subscription rights to shares

10,00010,000Long-term loans payable

12,061

8,446

751

668

Deferred tax liabilities

3,265

2,848

Other

2,004

1,754

28,082

23,71887,937

103,551

Capital stock

2,144

2,144

Capital surplus

5,631

5,630

Retained earnings

53,98057,074

Treasury stock(5,949)(5,945)55,80658,902

Valuation difference on available-for-sale securities

90

528

Foreign currency translation adjustment

323

6,404

Adjustment for retirement benefits

(136)

44

Total accumulated comprehensive income

277

6,976

Subscription rights to shares

59

77

Non-controlling interests

354

412

Total net assets

56,49866,369Total liabilities and net assets

144,436

169,921

Total current liabilities
Noncurrent liabilities

Liabilities for retirement benefits

Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity

Total shareholders' equity
Accumulated comprehensive income―5―

TRANSLATED(2) Consolidated Statements of Income(JPY in millions)
1st Jan 2020
- 31st Dec 2020

Net sales

1st Jan 2021
- 31st Dec 2021

181,598

226,833

165,448

206,712

16,15020,12011,697

15,165

4,452

4,954

Interest income

142

26

Dividends income

49

191

Foreign exchange gains―

286

Subsidy income

221

201

Gain on sales of goods

205

328

Gain on sales of scrap

167

172

Other

254

373

1,041

1,579

373

284

Equity in loss of affiliates

63

33

Foreign exchange losses

25－

Purchase of goods

153

148

Other

433

133

1,049

599

4,444

5,934

2

0

2

0

COVID-19 related loss

1,683

－

Total extraordinary loss

1,683

－

Income before income taxes

2,763

5,935

Income taxes-current

690

2,273

Income taxes-deferred

342

(908)

1,032

1,364

1,730

4,570

6

8

1,724

4,561

Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses

Total non-operating expenses
Ordinary income
Extraordinary income
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary loss

Total income taxes-current
Net Income
Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent―6―

TRANSLATED

Consolidated Statements of Comprehensive Income(JPY in millions)
1st Jan 2020
- 31st Dec 2020
Net Income

1st Jan 2021
- 31st Dec 2021
1,730

4,570

Valuation difference on available-for-sale securities

156

439

Deferred gains or losses on hedges(3)－

Foreign currency translation adjustment(2,302)

6,060

Remeasurements of defined benefit plans

6167

Equity equivalent of equity method affiliate

(35)

87

(2,178)

6,754

(447)

11,324(458)

11,266

11

57

Other comprehensive income

Total other comprehensive income
Comprehensive income(Content)
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests―7―

TRANSLATED(3) Consolidated statements of changes in net assets
Previous year (1st Jan 2020 – 31st Dec 2020)(JPY in millions)
Capitalstock
Balances at December 31, 2019

2,144

Shareholders' equity
CapitalRetained
Treasury
surplusearnings
stock
5,630

53,579(5,968)

Total
55,386

Changes of items during theperiodDividends from surplus(1,323)(1,323)

Net income attributable toowners of parent

1,724

1,724
―

Purchase of treasury stock0

Disposal of treasury stock
Change of scope of
consolidation
Net changes of items otherthan shareholders' equity
Total changes of items during
the period
Balances at December 31, 2020

18

19
－

―

0

401

18

420

2,144

5,631

53,980(5,949)55,806

Accumulated other comprehensive income
Valuation
Total
Subscription
Nondifference Deferred
Foreign Adjustment
accumulated rights to controllingcurrency
forongains orothersharesinterests
available- losses on translation retirement
comprehensive
hedgesadjustment benefits
for-saleincomesecurities
Balances at December 31, 2019

(65)

3

2,623

(100)

2,460

60

342

Total net
assets58,249Changes of items during theperiodDividends from surplus(1,323)

Net income attributable toowners of parent

1,724

Purchase of treasury stock―

Disposal of treasury stock

19

Change of scope of
consolidation
Net changes of items otherthan shareholders' equity
Total changes of items during theperiod156(3)(2,299)(36)(2,182)(0)

11(2,171)156(3)(2,299)(36)(2,182)(0)

11(1,751)

Balances at December 31, 2020

90

―

323

(136)

277

59

354

56,498－―8―

TRANSLATEDCurrent year (1st Jan 2021– 31st Dec 2021)(JPY in millions)Shareholders' equity

Balances at December 31, 2020

Capitalstock

CapitalsurplusRetainedearnings

Treasury
stock

Total

2,144

5,631

53,980(5,949)55,806

Changes of items during theperiodDividends from surplus(1,417)(1,417)

Net income attributable toowners of parent

4,561

4,561

Purchase of treasury stock(1)

Disposal of treasury stock
Change of scope of
consolidation
Net changes of items otherthan shareholders' equity
Total changes of items during
the period
Balances at December 31, 2021

(0)

(0)

3

2

(50)

(50)

―

(1)

3,093

3

3,095

2,144

5,631

57,074(5,945)58,902

Accumulated other comprehensive income
Valuation
Total
Subscription
Nondifference Deferred
Foreign Adjustmen
accumulate rights to controlling
gains orcurrencyt forond othersharesinterests
available- losses on translation retirement
comprehensive
for-salehedgesadjustment benefits
incomesecurities
Balances at December 31, 2020

90

−

323

(136)

277

59

354

Total net
assets56,498Changes of items during theperiodDividends from surplus(1,417)

Net income attributable toowners of parent

4,561

Purchase of treasury stock(0)

Disposal of treasury stock

2

Change of scope of
consolidation
Net changes of items otherthan shareholders' equity
Total changes of items during theperiod

438

−

6,085

180

6,704

17

57

6,780

438

−

6,080

180

6,699

17

57

9,870

Balances at December 31, 2021

528

―

6,404

44

6,976

17

412

66,369

(5)

―9―

(5)

(55)

TRANSLATED(4) Consolidated Statements of Cash Flows(JPY in millions)
1st Jan 2020
- 31st Dec 2020
Net cash provided by (used in) operating activities
Income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Foreign exchange losses (gains)
Equity in (earnings) losses of affiliates
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in advances received
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investment activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from sales of investment securities
Payments of loans receivableCollection of loans receivable
Payments for acquisition of shares in subsidiaries and affiliates
Proceeds from subsidy income
Other
Net cash provided by (used in) investment activities
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of bonds
Payments for bonds with share acquisition rights
Purchase of treasury stock
Cash dividends paid
Other
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
Increase in cash and cash equivalents from newly consolidated subsidiary
Cash and cash equivalents at end of period―10―

1st Jan 2021
- 31st Dec 2021

2,763
6,046
(18)
(192)
373
67
63
(553)
4,385
(269)
824
(738)
2,166
14,919208(380)(1,467)
13,280

5,935
6,129
(420)
(217)
284
(904)
33
(7,428)(18,110)
(109)
7,794
(137)
1,597
(5,554)238(294)(2,496)(8,106)(5,394)
94
(742)
110
(49)
23
(213)
200
(62)
(6,034)(7,443)
40
(688)
119
(31)
30
(1)
163
45
(7,765)(4,863)
10,211(6,270)9,949(5,948)―(1,324)
(463)
1,291
(605)
7,932
15,035－22,968

5,732
2,591(5,584)－－(0)(1,417)
(452)
869
1,309
(13,693)
22,96840
9,315

TRANSLATED■Information of net sales, income or loss, assets, and other items by reportable segment
Previous year (1st Jan 2020 – 31st Dec 2020)
Reportable Segment
Japan

China

ASEAN

EuropeAmericas

Total(JPY in millions)
Consolidated
incomeAdjustment
statement(note 1)
(note 2)

Sales
Sales to third parties

42,10648,31851,865

9,749

29,513

181,55345

181,598

Intersegment sales and transfers

32,804

19,464

17,248804

8,651

78,973(78,973)―

74,91067,782

69,114

10,554

38,165

260,527(78,928)

181,598

(54)

1,684

2,514

(438)

681

4,388

63

4,452

55,60942,16055,495

10,602

18,716

182,584(38,148)

144,436

316

1,983

2,196

403

1,040

5,939

106

6,046

1,612

1,836

1,335

372

217

5,374

199

5,573

Total
Segment income or loss
Segment assets
Other
Depreciation
The increase of property, plant andequipment and intangible assets(note 1) Adjustment is as following;

1. The amount of adjustment in sales to third parties, 45 million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -78,973 million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, 63 million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -38,148 million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 106 million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 199 million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

Current year (1st Jan 2021 – 31st Dec 2021)
Reportable Segment
Japan

China

ASEAN

EuropeAmericas

Total(JPY in millions)
Consolidated
incomeAdjustment
statement(note 1)
(note 2)Sales
to third parties

48,74860,80664,953

14,67337,613

226,79537

226,833

Intersegment sales and transfers

43,88622,245

19,148966

7,847

94,094(94,094)―

92,634

83,052

84,102

15,64045,461

320,890(94,056)

226,833

125

1,730

3,318

(123)

385

5,437

(482)

4,954

68,78351,37453,988

12,95429,342

216,443(46,521)

169,921

Depreciation

401

2,236

2,169

525

681

6,014

115

6,129

The increase of property, plant andequipment and intangible assets

221

4,390

2,426

695

1,351

9,085

429

9,515

Total
Segment income or loss
Segment assets
Other(note 1) Adjustment is as following;
1. The amount of adjustment in sales to third parties, 37 million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -94,094 million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, -482 million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -46,521 million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 115 million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 429 million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

―11―