Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

May 11, 2022

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2022
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Dai Nippon Toryo Co., Ltd.
Tokyo Stock Exchange4611
https://www.dnt.co.jp/english/
Takayuki Sato, President
Tatsuhiko Nagano, Director, Managing Executive Officer
General Manager, Administrative Division
Telephone:+81-6-6266-3102
Scheduled date of ordinary general meeting of shareholders:June 29, 2022
Scheduled date to commence dividend payments:
June 30, 2022
Scheduled date to file annual securities report:
June 29, 2022
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2022 (from April 1, 2021 toMarch 31, 2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2022

66,948

6.0

3,183

12.5

3,465

6.0

2,031

3.2

March 31, 2021

63,160–2,828(49.0)

3,268(43.5)

1,968(46.2)

Note: Comprehensive income

For the fiscal year ended March 31, 2022:
For the fiscal year ended March 31, 2021:

Basic earnings
per share

Diluted earnings
per share¥1,895 million¥7,014 million

Return on equity[(73.0)%][636.6%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%

Fiscal year ended

Yen

Yen

March 31, 2022

71.74

71.10

4.2

4.0

4.8

March 31, 2021

69.55

68.96

4.4

4.0

4.5

Reference:%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2022:¥(2) million
For the fiscal year ended March 31, 2021:¥(2) million
Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020) and relevant ASBJ regulations from the beginning of the current consolidated fiscal year, and only net sales outof each figure for the fiscal year ended March 31, 2021, is the figure after retrospectively applying the accounting
standard and relevant ASBJ regulations. Therefore, the year-on-year change in net sales is not stated in the fiscal year
ended March 31, 2021.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2022

87,70551,99155.9

1,730.00

March 31, 2021

85,76550,86556.0

1,698.23

Reference:

EquityAs of March 31, 2022:
As of March 31, 2021:%

Yen¥49,015 million¥48,069 million(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2022

3,364

(966)

(2,841)

6,479

March 31, 2021

3,641

(2,325)

499

6,736

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year
ending March 31,
2023 (Forecast)

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen

%

%

–

0.00

–

25.00

25.00

707

35.9

1.6

–

0.00

–

25.00

25.00

708

34.8

1.5

–

0.00

–

25.00

25.00

35.4

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (from April 1, 2022 toMarch 31, 2023)
Net sales
Millions ofyen

Six months ending
September 30,
2022(Cumulative)
Fiscal year ending
March 31, 2023

Operating profit%

Millions ofyen(Percentages indicate year-on-year changes.)
Profit attributable to Basic earnings perowners of parent
share

Ordinary profit%

Millions ofyen%

34,1003.9

1,250 (28.4)

1,370(21.8)

70,800

5.8

3,300

3,550

2.4

3.7

Millions ofyen%

750 (18.6)

2,000

(1.6)

Yen

26.47

70.59

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
Note:

For details, see “4. Consolidated Financial Statements and Major Notes, (5) Notes on consolidated financial
statements (Changes in accounting policies)” on page 14 of the attached materials.

(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

29,710,678 shares

As of March 31, 2021

29,710,678 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2022

1,377,931 shares

As of March 31, 2021

1,405,329 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2022

28,322,840 sharesFiscal year ended March 31, 2021

28,302,780 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2022 (from April 1, 2021 toMarch 31, 2022)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2022

39,849

5.9

825

8.5

2,082

(19.1)

1,504(26.1)March 31, 2021

37,641–761(45.1)

2,572(20.2)

2,036(16.6)

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

Yen

March 31, 2022

53.13

52.66

March 31, 2021

71.97

71.36

Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020) and relevant ASBJ regulations from the beginning of the current fiscal year, and only net sales out of eachfigure for the fiscal year ended March 31, 2021, is the figure after retrospectively applying the accounting standard
and relevant ASBJ regulations. Therefore, the year-on-year change in net sales is not stated in the fiscal year ended
March 31, 2021.

(2) Non-consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2022

67,19633,32649.2

1,167.66

March 31, 2021

65,41932,37549.1

1,135.27

Reference:

EquityAs of March 31, 2022:
As of March 31, 2021:%

Yen¥33,083 million¥32,134 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The earnings forecasts and other forward-looking statements in these materials are based on information
currently available to the Company and on certain assumptions deemed reasonable, and the Company
does not intend to guarantee their achievement. Furthermore, actual results, etc. may differ significantly
due to various factors. Please refer to “1. Summary of Business Results, Etc., (4) Future Prospects” onpage 4 of the attached materials for the suppositions that form the assumptions for earnings forecasts andcautions concerning the use thereof.

○ Table of Contents of Attached Materials
Index
1. Summary of Business Results, Etc. .......................................................................................................... 2(1) Summary of Business Results for Current Fiscal Year ....................................................................... 2(2) Summary of Financial Position for Current Fiscal Year ..................................................................... 3(3) Summary of Cash Flows for Current Fiscal Year ............................................................................... 3(4) Future Prospects ................................................................................................................................. 4(5) Basic Policy on Profit Distribution and Dividends for the Current and Next Fiscal Years ................ 4
2. Status of the Corporate Group .................................................................................................................. 6
3. Basic Approach to the Selection of Accounting Standards ....................................................................... 6
4. Consolidated Financial Statements and Major Notes ............................................................................... 7(1) Consolidated balance sheet ................................................................................................................ 7(2) Consolidated statement of income and consolidated statement of comprehensive income ............... 9(Consolidated statement of income) ................................................................................................... 9(Consolidated statement of comprehensive income) ........................................................................ 10(3) Consolidated statement of changes in equity ................................................................................... 11(4) Consolidated statement of cash flows .............................................................................................. 13(5) Notes on consolidated financial statements ...................................................................................... 15(Notes on the premise of a going concern) ....................................................................................... 15(Changes in accounting policies)...................................................................................................... 15(Segment information, etc.) .............................................................................................................. 16(Per share information) ..................................................................................................................... 21(Significant subsequent events) ........................................................................................................ 21
5. Non-consolidated Financial Statements and Major Notes ...................................................................... 22(1) Balance sheet .................................................................................................................................... 22(2) Statement of income ......................................................................................................................... 24(3) Statement of changes in equity ......................................................................................................... 25
6. Other ....................................................................................................................................................... 27
Change of Officers (Effective June 29, 2022) .................................................................................. 27-1-

1. Summary of Business Results, Etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29,
March 31, 2020) and relevant ASBJ regulations from the beginning of the current fiscal year, andcomparative analysis has been performed using retroactively adjusted figures.
(1) Summary of Business Results for Current Fiscal Year
During the consolidated fiscal year under review, the Japanese economy remained in a severe situation,even as economic activities began to normalize thanks to factors including the lifting of the state of
emergency declared due to COVID-19. This was due to the impact of factors such as the outbreak of
new strains of the COVID-19, a shortage of semiconductors, and soaring raw materials prices. Given
the concerns about disruptions of the global supply chain and further increases in raw materials prices
caused by the tense situation in Ukraine and other factors, the outlook is becoming increasingly
uncertain.
As for the Group’s business results, net sales were ¥66,948 million (a 6.0% year-on-year increase)
thanks to an increase in demand, especially in the domestic coatings business. On the profit side,although the sharp rise in raw materials prices had a strong impact, the increase in net sales resulted in
an operating income of ¥3,183 million (a ¥354 million year-on-year increase), ordinary income of¥3,465 million (a ¥196 million year-on-year increase), and profit attributable to owners of parent of¥2,031 million (a ¥63 million year-on-year increase).
The business results by segment were as follows.
[Domestic coatings business]
In the protective products field, net sales increased year on year thanks to successful efforts to growsales of new functional products and to develop new markets. In the industrial products field,
although net sales increased year on year, demand remained sluggish due to the global shortage ofsemiconductors beginning in the second half of the year. On the profit side, profits increased year
on year due to higher net sales, despite the increasing impact of higher raw materials prices.
As a result, net sales were ¥49,622 million (a 5.1% year-on-year increase), and operating income
was ¥1,990 million (a ¥358 million year-on-year increase).
[Overseas coatings business]
In the Southeast Asian market, sales in the automotive components field increased, leading to a
year-on-year increase of net sales. In the Chinese market, net sales increased year on year as
demand recovered moderately from the overall decline in demand due to COVID-19. In the North
and Central American market, net sales were higher year on year due to increased sales in theautomotive field in the first half of the year. While net sales in the segment as a whole increased
year on year, sales in the industrial coatings field were sluggish due to the growing impact of the
global semiconductor shortage beginning in the second half of the year. On the profit side, profits
increased slightly year on year due to the impact of higher raw materials prices.
As a result, net sales were ¥6,939 million (a 26.5% year-on-year increase), and operating income
was ¥236 million (a ¥15 million year-on-year increase).
[Lighting business]
In the commercial LED lighting field, demand in the Tokyo metropolitan area remained sluggish.
However, net sales increased year on year due in part to the acquisition of new customers for new
UV sterilization products in the UV lighting field and an increase in orders for lighting
installations. On the profit side, profits increased year on year due to higher net sales.

-2-As a result, net sales were ¥7,656 million (a 5.8% year-on-year increase), and operating income
was ¥577 million (a ¥97 million year-on-year increase).
[Fluorescent color material business]
In the pigment field, there was a gradual recovery from the drop in demand in overseas markets due
the impact of COVID-19, leading to a year-on-year increase in net sales. On the profit side, profits
declined year on year due to a decrease in demand for high value-added products in the domestic
market as well as the impact of soaring raw material prices.
As a result, net sales were ¥1,223 million (a 9.5% year-on-year increase), and operating income
was ¥46 million (a ¥8 million year-on-year decrease).
[Other businesses]
Net sales were ¥1,507 million (a 27.7% year-on-year decrease), and operating income was ¥114
million (a ¥142 million year-on-year decrease).
(2) Summary of Financial Position for Current Fiscal Year
Total assets at the end of the current consolidated fiscal year were ¥87,705 million, an increase of¥1,940 million from the end of the previous consolidated fiscal year. Current assets increased by ¥1,699
million to ¥34,773 million from the end of the previous consolidated fiscal year. This was mainly due
to a decrease in cash and deposits of ¥205 million, an increase in notes and accounts receivable - trade,and contract assets of ¥672 million, and an increase in inventories of ¥1,298 million. Non-current assets
totaled ¥52,932 million, an increase of ¥240 million from the end of the previous consolidated fiscal
year. This was mainly due to a decrease in property, plant and equipment of ¥285 million, and anincrease in investments and other assets of ¥576 million.
Liabilities totaled ¥35,713 million, an increase of ¥813 million from the end of the previous
consolidated fiscal year. Current liabilities were ¥25,790 million, an increase from the end of theprevious consolidated fiscal year of ¥1,368 million. An increase in notes and accounts payable - tradeof ¥1,757 million, a decrease in short-term borrowings of ¥1,050 million, an increase in income taxes
payable of ¥147 million, and an increase in other current liabilities of ¥521 million were the main
factors in this. Non-current liabilities were ¥9,923 million, a decrease from the end of the previous
consolidated fiscal year of ¥554 million. The main factors in this were a decrease of long-termborrowings of ¥600 million, a decrease in lease liabilities of ¥237 million, and an increase in deferred
tax liabilities of ¥299 million.
Net assets were ¥51,991 million, an increase from the end of the previous consolidated fiscal year of¥1,126 million. The main factors in this were an increase in retained earnings of ¥1,316 million, an
increase in foreign currency translation adjustments of ¥404 million, a decrease in remeasurements ofdefined benefit plans of ¥889 million, and an increase in non-controlling interests of ¥177 million.
(3) Summary of Cash Flows for Current Fiscal Year
During the current consolidated fiscal year, cash and cash equivalents (hereinafter, “cash”) decreased
from the end of the previous consolidated fiscal year by ¥257 million to ¥6,479 million.
The status of each cash flow during the current consolidated fiscal year and their contributing factors
are as follows.
(Cash flows from operating activities)
Cash provided by operating activities in the current consolidated fiscal year totaled ¥3,364 million(compared to ¥3,641 million gained in the previous consolidated fiscal year). This is mainly due to-3-

income from an increase in trade payables, an increase in trade receivables, an increase in retirement
benefit assets, and expenditures such as the payment of income taxes, based on profit before income
taxes and depreciation and amortization.
(Cash flows from investing activities)
Cash used in investing activities during the current consolidated fiscal year amounted to ¥966 million(compared to ¥2,325 million expended in the previous consolidated fiscal year). Expenditures including
the purchase of property, plant and equipment were the main factor in this.
(Cash flows from financing activities)
Cash used in financing activities in the current consolidated fiscal year amounted to ¥2,841 million(compared to ¥499 million gained in the previous consolidated fiscal year). Expenditures such as thepayment of dividends, the repayment of short-term borrowings, the repayment of long-termborrowings, and the repayment of lease liabilities were the main factors in this.
(4) Future Prospects
The Japanese economy is expected to recover in the next fiscal year (ending March 31, 2023) as efforts
are made to normalize economic and social activities. Nevertheless, close attention will need to be paid
to such impact as fluctuations in financial and capital markets, supply-side constraints, and raw
materials price hikes due to the prolonging of the situation in Ukraine.
Under these circumstances, we will respond to changes in the structure of society by strengthening its
product and technology development system to create new added value, focusing on markets where wecan show our strengths such as the protective products field. Through these efforts, we will expand ourshare of the existing market and cultivate new markets, thereby increasing earnings. At the same time,
we will continue to focus on measures to reduce manufacturing costs, with a particular focus onestablishing an optimal production system and raw materials consolidation and elimination. By doing
so, we will work to stabilize our business performance and achieve high profitability for the foreseeable
future.
As for the business environment in the next fiscal year, in the domestic coatings market, which is our
main market, the demand environment in the general-purpose coatings field is expected to remain firm.
However, the industrial coatings field is not expected to see a full-fledged recovery in demand due tothe lingering effects of the semiconductor shortage. In addition, the impact of raw materials priceincreases due to the situation in Ukraine is expected to intensify. These price increases passing onto theprices of our finished goods will be the most important issue.
Our consolidated financial forecast for the next fiscal year is net sales of ¥70,800 million, operating
income of ¥3,300 million, ordinary income of ¥3,500 million, and profit attributable to owners ofparent of ¥2,000 million.
This forecast for the next fiscal year is calculated based on the information available at this time, but
actual results may differ due to a variety of factors, including changes in economic and businessconditions and raw materials price trends.
(5) Basic Policy on Profit Distribution and Dividends for the Current and Next Fiscal Years
The Company regards the determination of the amount of dividends to be paid to shareholders as oneof its most important management issues. Our basic policy is to continue to pay stable dividends
commensurate with our business performance, while at the same time striving to strengthen our
corporate constitution and maintain financial soundness.
Regarding dividends at the end of the current fiscal year, as announced in the timely disclosure dated
May 12, 2021, the Company plans to pay a dividend of ¥25 per share.

-4-Regarding the next consolidated fiscal year, we plan to pay an annual dividend of ¥25 per share. As aresult, the consolidated dividend payout ratio is expected to be 35.4%. To continue to pay stabledividends, we will continue to make efforts to strengthen the soundness of our financial constitution.

-5-

2. Status of the Corporate GroupThe following is a diagram of the Company’s operations.
〔 Domestic Coatings Business 〕〔 Overseas Coatings Business 〕

Domestic Customers

Overseas Customers

Sales Companies

Sales Companies

Manufacturing/Sales Companies○ DNT Singapore Pte., Ltd.
○ DNT KANSAI MEXICANA S.A. de C.V.
(+1 Other Company)

Finished
Goods
Finished
Goods,
Etc.

Finished
Goods○ Nitto Chemical Co., Ltd.
○ BO Chemical Co., Ltd.

Raw
Materials, Etc.

Manufacturing Companies
Finished○ Chiba Kako Co., Ltd.
○ Nitto Sanwa Toryo Co., Ltd.
○ DNT Service Co., Ltd.
○ Japan Powder Coatings

Goods＊ Lilama3- Dai Nippon Toryo Co., Ltd.
Manufacturing/Sales Companies

DNT (Mnfg./Sales)○ Dai Nippon Toryo Hokkaido Co., Ltd.
○ Sunday Paint Co., Ltd.
○ DNT Sanyo Chemical Co., Ltd.
○ Ube Toryo Co., Ltd.

○ Thai DNT Paint Mfg. Co., Ltd.
○ DNT Paint (Malaysia) Sdn. Bhd.
○ PT. DNT INDONESIA○ DNT (Shanghai) Co., Ltd.
○ DNT (Zhejiang) Co., Ltd.
○ DAI NIPPON TORYO MEXICANA,
S.A. de C.V.

Raw
Materials, Etc.

Manufacturing Co., Ltd.
○ Okayama Kako Co., Ltd.

〔Lighting Business 〕
Manufacturing Companies○ Nippo Denko Co.,

Manufacturing/Sales Companies
Finished Goods○ DN Lighting Co., Ltd.

〔 Flourescent Color Material Business 〕
Manufacturing/Sales Companies

Overseas Customers

Logistical Tasks, Etc.

○Sinloihi Co., Ltd.

〔

Other Businesses〕(Services)○ Nitto Service Co., Ltd.

(Notes) 1.
2.

(Engineering)○ Nitto Engineering Co., Ltd.

(Other )＊Yubi Industry, Ltd.

A circle (○) denotes a consolidated subsidiary.
An asterisk (＊) denotes an equity method affiliate.

3. Basic Approach to the Selection of Accounting Standards
The Company’s policy is to prepare for the future application of IFRS by preparing internal manuals,
guidelines, etc., and by also considering the timing of application.

-6-

Domestic Customers<Some Logistical Tasks>

4. Consolidated Financial Statements and Major Notes(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise 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
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Leased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-7-

As of March 31, 2022

6,983

6,777

15,73916,411

5,311
691
2,928
1,448
(27)
33,073

5,603
905
3,720
1,386
(31)
34,77320,938(13,985)
6,952
22,892(19,588)
3,304
11,512
1,936
(811)
1,125
1,444
6,742
(5,205)
1,537
25,87722,323(14,449)
7,873
23,441(19,669)
3,772
11,4981,902(1,001)
900
209
6,820
(5,483)
1,336
25,591

156
268
424

120
254
374

7,387
1,871
16,487710(66)
26,38952,69185,765

7,324
1,794
17,264608(25)
26,96552,93287,705

(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses for directors (and otherofficers)
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Provision for environmental measures
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-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets-8-

As of March 31, 2022

14,583
4,100
334
282

16,340
3,050
312
429

44

56

368
4,709
24,422370
5,230
25,790

1,800
1,219
5,137
1,303
932
8
77
10,47834,900

1,200
981
5,436
1,303
938
8
54
9,923
35,7138,827
2,440
28,101(1,614)37,754

8,827
2,440
29,417(1,582)
39,101

2,943
1,882
(407)
5,896
10,314241
2,554
50,86585,765

3,027
1,882
(2)
5,006
9,913
243
2,732
51,99187,705

(2) Consolidated statement of income and consolidated statement of comprehensive income(Consolidated statement of income)(Millions of yen)
Fiscal year ended
March 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Gain on sale of goods
Subsidies for employment adjustment
Reversal of provision for environmental measures
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale of trade receivables
Compensation expenses
Provision for product warranties
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on disposal of non-current assets
Impairment losses
Business restructuring expenses
Other
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-9-

Fiscal year ended
March 31, 2022

63,16043,994
19,165
16,336
2,828

66,94847,29019,65816,474
3,183

25
194
41
60
178
75
165
743

17
210
148
94
21
–
180
673

75
34
23
47
122
303
3,268

65
33
135
109
48
391
3,465

82
44
2
129

240
82
–
323

37
61
73
140
8
321
3,076
583
406
989
2,087
118
1,968

0
116
17
30
14
177
3,611
595
732
1,328
2,283
251
2,031

(Consolidated statement of comprehensive income)(Millions of yen)
Fiscal year ended
March 31, 2021
ProfitOther 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 of parent
Comprehensive income attributable to non-controllinginterests- 10 -

Fiscal year ended
March 31, 2022

2,087

2,283

1,325
(359)
3,962

84
418
(890)

(0)

0

4,927
7,014

(387)
1,895

7,011

1,631

2

264

(3) Consolidated statement of changes in equity
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity
Share capital Capital surplus
Balance at beginning of period

8,827

2,440

Retainedearnings

TreasurysharesTotalshareholders’equity26,841(1,617)36,491

Changes during period
Dividends of surplus

(707)

(707)

Profit attributable to ownersof parent

1,968

1,968

Purchase of treasury shares(0)

Transfer of loss on disposalof treasury shares
Exercise of share acquisitionrights

0

(0)

(0)

(0)
–

3

2

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

1,260

3

1,263

8,827

2,440

28,101(1,614)37,754

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
availablefor-salesecurities

Revaluation
reserve for
land

1,617

1,882

Total
Foreign
Remeasureaccumulated
currency
ments ofothertranslation defined benefit
comprehenadjustment
plans
sive income
(164)

1,935

5,271

Share
acquisitionrights212

Noncontrolling Total net assetsinterests

2,704

44,679Changes during period
Dividends of surplus(707)

Profit attributable to ownersof parent

1,968

Purchase of treasury shares(0)

Transfer of loss on disposalof treasury shares
Exercise of share acquisitionrightsNet changes in items otherthan shareholders’ equity

–
(2)
1,325

0

(243)

3,961

5,042

31

(149)

4,924

Total changes during period

1,325

–

(243)

3,961

5,042

28

(149)

6,185

Balance at end of period

2,943

1,882

(407)

5,896

10,314241

2,554

50,865- 11 -

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity
Share capital Capital surplus
Balance at beginning of period

8,827

2,440

Retainedearnings

TreasurysharesTotalshareholders’equity28,101(1,614)37,754

Changes during period
Dividends of surplus

(707)

(707)

Profit attributable to ownersof parent

2,031

2,031

Purchase of treasury shares
Disposal of treasury shares(7)

Transfer of loss on disposalof treasury shares
Purchase of shares of
consolidated subsidiaries

7

(0)

(0)

31

23

(7)

–

(0)

(0)

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

(0)

1,316

31

1,347

8,827

2,440

29,417(1,582)

39,101

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
availablefor-salesecurities

Revaluation
reserve for
land

2,943

1,882

Total
Foreign
Remeasureaccumulated
currency
ments ofothertranslation defined benefit
comprehenadjustment
plans
sive income
(407)

5,896

10,314

Shareacquisitionrights241

Noncontrolling Total net assetsinterests

2,554

50,865

Changes during period
Dividends of surplus(707)

Profit attributable to ownersof parent

2,031

Purchase of treasury shares(0)

Disposal of treasury shares

23

Transfer of loss on disposalof treasury shares
Purchase of shares of
consolidated subsidiaries
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–
(0)
84

404

(889)

(400)

2

177

(220)

84

–

404

(889)

(400)

2

177

1,126

3,027

1,882

(2)

5,006

9,913

243

2,732

51,991- 12 -

(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
March 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Business restructuring expenses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase/decrease in net defined benefit asset/liability
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for environmental
measures
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Subsidies for employment adjustment
Loss (gain) on sale of non-current assets
Loss (gain) on disposal of non-current assets
Loss (gain) on sale of investment securities
Impairment losses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Proceeds from subsidies for employment adjustment
Payments of business restructuring expenses
Income taxes refund
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payments for retirement of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Other, net
Net cash provided by (used in) investing activities- 13 -

Fiscal year ended
March 31, 2022

3,076
2,426
140

3,611
2,545
30

(28)

12

(1,315)34(2,054)
1

(87)

–

(6)
(220)
75

(36)
(227)
65

2

2

(178)
(45)
61
(44)
73
1,484
413
(783)
(656)
4,420
219
(72)
175
(80)
225
(1,248)
3,641

(21)
(240)
116
(82)
17
(593)
(1,191)
1,608
(17)
3,542
229
(65)
24
(45)
337
(659)
3,364

(244)
244
(2,794)
327

(328)
294
(1,302)
298

(91)

(125)

(18)
(16)
241
26
(2,325)

(65)
(13)
265
10
(966)

(Millions of yen)
Fiscal year ended
March 31, 2021
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Repayments of lease liabilities
Dividends paid
Dividends paid to non-controlling interests
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
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- 14 -

Fiscal year ended
March 31, 2022

2,339
(600)
(0)
(381)
(707)
(150)

(1,050)
(600)
(0)
(394)
(707)
(74)

–

(13)

499

(2,841)

(142)

186

1,672
5,064
6,736

(257)
6,736
6,479

(5) Notes on consolidated financial statements(Notes on the premise of a going concern)
Not applicable.
(Changes in accounting policies)(Application of Accounting Standard for Revenue Recognition, etc.)
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No.
29, March 31, 2020) and “Implementation Guidance on Accounting Standard for Revenue
Recognition” (ASBJ Guidance No. 30, March 26, 2021, Accounting Standards Board of Japan) fromthe beginning of the current consolidated fiscal year.
Freight revenue received from customers for the transportation of products was previously recognizedat the net amount paid to carriers less freight received from customers. However, for transactions inwhich the Company’s role in providing goods or services to the customer corresponds to that of aprincipal, the Company now recognizes revenue at the gross amount of consideration received from thecustomer.
Such changes in accounting policies are, in principle, applied retrospectively, and the consolidated
financial statements restate the figures for the previous consolidated fiscal year following retrospective
application.
Furthermore, “Notes and accounts receivable - trade” under current assets of the consolidated balance
sheet as of the end of the previous consolidated fiscal year has been included in “Notes and accounts
receivable - trade, and contract assets” under current assets from the current consolidated fiscal year.
As a result, compared with the figures prior to the retrospective application, in the consolidated
statement of income for the previous consolidated fiscal year, net sales increased by ¥684 million andselling, general and administrative expenses increased by the same amount, and in the consolidated
statement of cash flows, decrease (increase) in trade receivables in cash flows from operating activities
increased by ¥21 million, and other decreased by the same amount. In the consolidated balance sheet
for the previous consolidated fiscal year, notes and accounts receivable - trade, and contract assets
increased by ¥96 million and other decreased by the same amount.
(Application of Accounting Standard for Fair Value Measurement, etc.)
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement
No. 30, July 4, 2019) and relevant ASBJ regulations from the beginning of the current consolidated
fiscal year, and it has applied the new accounting policy provided for by the Accounting Standard for
Fair Value Measurement, etc. prospectively in accordance with the transitional measures provided forin paragraph 19 of the Accounting Standard For Fair Value Measurement, and paragraph 44-2 of the“Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019). There is noeffect on the consolidated financial statements.

- 15 -

(Segment information, etc.)[Segment information]
1. Overview of reportable segments
The Company’s reportable segments are components of the Company for which separate financial
information is available and for which the Board of Directors conducts periodic review todetermine the allocation of management resources and evaluate operating results.
The Company has established a domestic coatings business division and an Overseas Operations
Division at its head office. Each formulates comprehensive strategies and develops businessactivities regarding the products and services of the domestic and overseas coatings businesscompanies, respectively. In addition, domestic consolidated subsidiaries are engaged in the lighting
business and the fluorescent color material business.
Therefore, the Group has four reportable segments: the domestic coatings business, the overseas
coatings business, the lighting business, and the fluorescent color material business.
The domestic coatings business manufactures and sells coatings in Japan. The overseas coatingsbusiness manufactures and sells coatings mainly in Asia and North and Central America. The
lighting business includes the manufacture and sale of various types of lighting equipment as well
as store construction. The fluorescent color material business manufactures and sells fluorescentpigments and special coating materials.
2. Calculation methods of net sales, profit or loss, assets, and other items by reportable segment
The accounting treatment of our reported business segments is in accordance with the accounting
principles and procedures employed in the preparation of our consolidated financial statements.
Profit by reportable segment is based on operating income.
Intersegment transactions are between consolidated companies, and are based on market prices andother factors.
3. Matters related to changes to reportable segments, etc.
(Application of Accounting Standard for Revenue Recognition)
Freight revenue received from customers for the transportation of products was previously
recognized at the net amount paid to carriers less freight received from customers. However, as
stated in “Changes in Accounting Policies,” beginning with the current consolidated fiscal year, fortransactions in which the Company’s role in providing goods or services to the customer
corresponds to that of a principal, the Company now recognizes revenue at the gross amount ofconsideration received from the customer.
As a result of this change, compared to when using the previous method, net sales to externalcustomers in the current consolidated fiscal year have increased by ¥737 million for domestic
coatings and by ¥4 million for fluorescent color materials. Likewise, intersegment sales andtransfers increased by ¥35 million for domestic coatings and ¥1 million for fluorescent color
materials, respectively.
Furthermore, the segment information for the previous consolidated fiscal year was prepared anddisclosed based on the reportable segmentation for the current consolidated fiscal year.

- 16 -

4. Information on net sales, profits or losses, and other items by reportable segment
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)(Millions of yen)
Reportable segments
Domestic
coatings
Net sales
Net sales to external customers
Intersegment internal net sales
or transfers
Total

Overseascoatings

Fluorescentcolor materials

Lighting

Total

47,232

5,486

7,239

1,117

61,075

942

0

17

76

1,036

48,175

5,486

7,256

1,193

62,111

Segment profit

1,631

221

479

54

2,387

Segment assets

67,611

10,271

12,618

1,193

91,695

1,834

289

217

56

2,397

22

5

–

–

28

2,063

891

115

118

3,189

Amount ofadjustment2, 4

Amountrecorded inconsolidated
financialstatements3

Other items
Depreciation
Amount of investment in equity
method affiliate
Increase in property, plant andequipment and intangible assets

Other1

Net sales
Net sales to external customers
Intersegment internal net sales
or transfers
Total

Total

2,084

63,160–63,160

2,164

3,201

(3,201)–
63,1604,249

66,361(3,201)

Segment profit

257

2,645

183

2,828

Segment assets

2,658

94,353(8,587)85,765

28

2,426

–

2,426

29

58

–

58

24

3,213

–

3,213

Other items
Depreciation
Amount of investment in equity
method affiliate
Increase in property, plant andequipment and intangible assets(Notes) 1.
2.
3.
4.

“Other” refers to business segments not included in the reportable segments, such as thepainting business and logistics business.
The adjustment of segment profit of ¥183 million refers to the elimination of intersegment
transactions.
Segment profit is adjusted to be consistent with operating income shown on the consolidated
financial statements.
The adjustment of segment assets of minus ¥8,587 million refers to the elimination ofintersegment transactions.

- 17 -

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)(Millions of yen)
Reportable segments
Domestic
coatings
Net sales
Net sales to external customers
Intersegment internal net sales
or transfers
Total

Overseascoatings

Fluorescentcolor materials

Lighting

Total

49,622

6,939

7,656

1,223

65,441

1,028

1

84

87

1,202

50,650

6,940

7,740

1,311

66,643

Segment profit

1,990

236

577

46

2,850

Segment assets

68,22011,87013,0691,242

94,403

1,850

364

239

61

2,516

–

0

–

–

0

1,159

522

199

35

1,917

Amount ofadjustment2, 4

Amountrecorded inconsolidated
financialstatements3

Other items
Depreciation
Amount of investment in equity
method affiliate
Increase in property, plant andequipment and intangible assets

Other1

Net sales
Net sales to external customers
Intersegment internal net sales
or transfers
Total

Total

1,507

66,948–66,948

2,374

3,577

(3,577)–

3,881

70,525(3,577)

66,948Segment profit

114

2,965

218

3,183

Segment assets

2,580

96,984(9,278)87,705

28

2,545

–

2,545

31

32

–

32

55

1,972

–

1,972

Other items
Depreciation
Amount of investment in equity
method affiliate
Increase in property, plant andequipment and intangible assets(Notes) 1.
2.
3.
4.

“Other” refers to business segments not included in the reportable segments, such as thepainting business and logistics business.
The adjustment of segment profit of ¥218 million refers to the elimination of intersegment
transactions.
Segment profit is adjusted to be consistent with operating income shown on the consolidated
financial statements.
The adjustment of segment assets of minus ¥9,278 million refers to the elimination ofintersegment transactions.

- 18 -

[Related information]
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)
1. Information by product and service
This information has been omitted because the segmentation of products and services is the same as
the reportable segments.
2. Information by region(1) Net sales
This information has been omitted because net sales to external customers in Japan account for
more than 90% of the net sales in the consolidated statement of income.
(2) Property, plant and equipment(Millions of yen)Japan
22,404

Other
3,473

Total
25,877

3. Information by major customer(Millions of yen)

Customer name

Net sales

Mitsubishi Shoji Chemical Corporation

11,806

Name of related segment(s)Domestic coatings
Fluorescent color materials
Other

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)
1. Information by product and service
This information has been omitted because the segmentation of products and services is the same as
the reportable segments.
2. Information by region(1) Net sales(Millions of yen)Japan
59,483

Other
7,465

Total
66,948(2) Property, plant and equipment(Millions of yen)Japan
21,679

Other
3,911

Total
25,591

3. Information by major customer(Millions of yen)

Customer name

Net sales

Mitsubishi Shoji Chemical Corporation

12,726- 19 -Name of related segment(s)Domestic coatings
Fluorescent color materials
Other[Information on impairment losses of non-current assets by reportable segment]
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)(Millions of yen)

Impairment
lossesDomestic
coatings

Overseascoatings

Lighting

Fluorescentcolormaterials

Other

Corporate/Elimination

Total

73

–

–

–

–

–

73

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)(Millions of yen)

Impairment
lossesDomestic
coatings

Overseascoatings

Lighting

Fluorescentcolormaterials

17

–

–

–

Other

Corporate/Elimination

Total

–

–

17

[Information on amortization and unamortized balance of goodwill by reportable segment]
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)
Not applicable.
Current consolidated fiscal year (April 1, 2021 to March 31, 2022)
Not applicable.
[Information on gain on negative goodwill by reportable segment]
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)
Not applicable.
Current consolidated fiscal year (April 1, 2021 to March 31, 2022)
Not applicable.

- 20 -

(Per share information)
Previous consolidated fiscal year
(April 1, 2020 to March 31, 2021)(Yen)
Current consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Net assets per share

1,698.23

1,730.00

Earnings per share

69.55

71.74

Diluted earnings per share

68.96

71.10

(Note)The basis for calculating earnings per share and diluted earnings per share is as follows.
Previous consolidated fiscal year
(April 1, 2020 to March 31, 2021)

Current consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Profit attributable to owners of parent(millions of yen)

1,968

2,031

Amount not attributable to commonshareholders (millions of yen)––

Profit attributable to owners of parent
related to common shares (millionsof yen)

1,968

2,031

Average number of common shares
during the period (thousands ofshares)28,302

28,322––

Increase in common shares(thousands of shares)

241

252

(execution of share acquisition rights[thousands of shares])

(241)

(252)

Summary of latent shares notincluded in the calculation of diluted
earnings per share due to the absenceof dilutive effects––

Earnings per share

Diluted earnings per share
Adjustment to profit attributable toowners of parent (millions of yen)

(Significant subsequent events)
Not applicable.

- 21 -

5. Non-consolidated Financial Statements and Major Notes(1) Balance sheet(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Short-term loans receivable
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Leased assets
Construction in progress
Total property, plant and equipment
Intangible assets
Leasehold interests in land
SoftwareLeased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Long-term loans receivable
Prepaid pension costs
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 22 -

As of March 31, 2022

1,318
3,183
6,030
2,244
325
791
932
3,400
273
(7)
18,492

341
3,331
6,337
2,671
419
1,082
1,073
3,602
294
(4)
19,149

3,544
363
1,181
0
777
8,900
1,028
–
15,796

3,292
329
1,131
3
602
8,872
837
13
15,084

64
95
153
38
351

64
85
119
44
313

6,955
13,071
2,515
7,919
367
(51)
30,77946,92765,4197,043
13,080
2,482
9,773
282
(12)
32,64948,047
67,196

(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes payable - trade
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Accounts payable - otherAccrued expenses
Income taxes payable
Deposits received
Provision for bonuses for directors (and otherofficers)
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for retirement benefits
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for contribution to society
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Revaluation reserve for land
Total valuation and translation adjustments
Share acquisition rights
Total net assets
Total liabilities and net assets- 23 -

As of March 31, 2022

1,808
10,564
3,500
600
277
676
674
86
7,441

2,031
11,945
2,450
600
258
750
684
83
7,873

19

19

368
197
26,215366
113
27,177

1,800
1,040
2,541
1,303
110
33
6,828
33,044

1,200
859
3,211
1,303
98
20
6,693
33,870

8,827

8,827

2,443
2,443

2,443
2,443

780

780

109
16,841
17,731(1,614)
27,388106
17,633
18,520(1,582)
28,208

2,863
1,882
4,746
241
32,37565,419

2,991
1,882
4,874
243
33,326
67,196

(2) Statement of income(Millions of yen)
Fiscal year ended
March 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from real estate
Outsourcing service income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale of trade receivables
Provision for product warranties
Rental expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit- 24 -

Fiscal year ended
March 31, 2022

37,641
26,951
10,6899,928
761

39,84929,288
10,561
9,735
825

59
1,149
236
303
298
2,047

45
712
234
296
272
1,561

91
34
47
29
33
235
2,572

86
32
105
25
55
305
2,082

–
44
–
44

100
30
4
135

49
7
2
59
2,556
86
433
519
2,036

76
–
1
77
2,140
21
614
635
1,504

(3) Statement of changes in equity
Previous fiscal year (April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity
Capital surplus
SharecapitalRetained earnings
Other retained earnings

Legal
capitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

2,443

–

2,443

780

Total
retainedearnings

TreasurysharesTotalshareholders’equity(1,617)

26,056

Reservefor contribution tosociety

Retainedearnings
brought
forward

114

15,50816,403

(4)

4

–

–

Dividends of surplus

(707)

(707)

(707)

Profit

2,036

2,036

2,036

Balance at beginning of period

8,827

Changes during period
Reversal of reserve forcontribution to society

Purchase of treasury shares(0)

Transfer of loss on disposal oftreasury shares
Exercise of share acquisitionrights

0

0

(0)

(0)

(0)

(0)

(0)
–

3

2

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

–

(4)

1,333

1,328

3

1,331

8,827

2,443

–

2,443

780

109

16,841

17,731(1,614)

27,388Valuation and translation adjustments

Balance at beginning of period

Valuationdifferenceonavailablefor-salesecurities

Revaluation
reserve for
land

Total
valuationandtranslation
adjustments

ShareacquisitionrightsTotal net
assets

1,600

1,882

3,482

212

29,751

Changes during period
Reversal of reserve forcontribution to society–

Dividends of surplus(707)

Profit2,036

Purchase of treasury shares(0)

Transfer of loss on disposal oftreasury shares
Exercise of share acquisitionrightsNet changes in items otherthan shareholders’ equity

–

1,263

(2)

0

1,263

31

1,294

Total changes during period

1,263

–

1,263

28

2,623

Balance at end of period

2,863

1,882

4,746

241

32,375- 25 -

Current fiscal year (April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity
Capital surplus
SharecapitalRetained earnings
Other retained earnings

Legal
capitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

2,443

–

2,443

780

Total
retainedearnings

TreasurysharesTotalshareholders’equity(1,614)

27,388Reservefor contribution tosociety

Retainedearnings
brought
forward109

16,841

17,731

(2)

2

–

–

Dividends of surplus

(707)

(707)

(707)

Profit

1,504

1,504

1,504

Balance at beginning of period

8,827

Changes during period
Reversal of reserve forcontribution to society

Purchase of treasury shares
Disposal of treasury shares

(7)

(7)

Transfer of loss on disposal oftreasury shares

7

7

(7)

(7)

(0)

(0)

31

23
–

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

–

(2)

791

789

31

820

8,827

2,443

–

2,443

780

106

17,633

18,520(1,582)

28,208Valuation and translation adjustments

Balance at beginning of period

Valuationdifferenceonavailablefor-salesecurities

Revaluation
reserve for
land

Total
valuationandtranslation
adjustments

ShareacquisitionrightsTotal net
assets

2,863

1,882

4,746

241

32,375

Changes during period
Reversal of reserve forcontribution to society–

Dividends of surplus(707)

Profit

1,504

Purchase of treasury shares(0)

Disposal of treasury shares

23

Transfer of loss on disposal oftreasury shares–

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

128

128

2

130

128

–

128

2

951

2,991

1,882

4,874

243

33,326- 26 -

6. Other
Change of Officers (Effective June 29, 2022)[Change of representative]
Not applicable.
[Change of other officers](i) Candidates for New Directors
Director
Masayuki Nakatani

Outside Director

Hiroshi Sato

Outside Director

Koji Baba(ii) Retiring Directors
Director

Outside Director
Outside Director

Naoyuki Kimura[Currently Executive Officer andGeneral Manager of the Overseas
Operations Division][Currently Director and Standing
Audit & Supervisory Board Memberof Mitsubishi Materials
Corporation][Currently Audit and Supervisory
Board Member of Mitsubishi
Logisnext Co., Ltd.][Currently Director, Head of theOverseas Operations Division, andin charge of Procurement]

Kyoichi Haizaki
Michitaka Mukohara(iii) Candidates for New Corporate Auditor
Full-time Corporate Naoyuki Kimura
Auditor[Currently Director, Head of theOverseas Operations Division, andin charge of Procurement](iv) Retiring Corporate Auditor
Full-time Corporate Masaki Kobayashi
Auditor- 27 -