February 15, 2021
Name of Listed Company: ISEKI & CO., LTD.
Stock Exchange Listings: Tokyo
Company Code:6310 (URL http://www.iseki.co.jp)
Representative: Title President
Name Shirou Tomiyasu
Enquiries:
Title General Manager of Financial Department
Name Yoshikazu Ogusu
Telephone: +81-3-5604-7671
Date of the Ordinary General Meeting of Shareholders:
Scheduled Date to Commence Dividend Payment:
Date of Submission of Securities Report:
Supplementary Information for Financial Results:
Financial Results Briefing:

March 30, 2021
—March 31, 2021
Yes
Yes (for institutional investors and analysts)

Summary Announcement of Consolidated Financial Results
for the Fiscal Year Ended December 31, 2020 (Japanese GAAP)
I. Consolidated Financial Results for Fiscal Year Ended December 31, 2020 (January 1, 2020－December 31,2020)
A. Consolidated Results of Operations (Cumulative Total)(Rounded down to millions of yen, % indicates changes from the previous corresponding period)

Fiscal Year Ended
December 31, 2020
149,304
2,084
1,702(5,641)

Net Sales
Operating Income
Ordinary Income
Profit Attributable to Owners of Parent
Earnings per Share (yen)Basic(249.58)
DilutedReturn on Equity (%)(8.8)
Return on Assets (%)
0.9
Operating Margin (%)
1.4
Note: Comprehensive income
Fiscal year ended December 31, 2020: ¥(6,151) million [- %]Fiscal year ended December 31, 2019: ¥976 million [-%]
Reference: Share of profit or loss of entities using equity method
Fiscal year ended December 31, 2020: ¥(460) million
Fiscal year ended December 31, 2019: ¥(1,472) million

-1-%
(0.4)
(24.1)
53.6-Fiscal Year Ended
December 31, 2019
149,899
2,745
1,108723
32.01
31.96
1.1
0.6
1.8%(3.9)(13.6)(57.8)(33.7)

B. Consolidated Financial Position(Rounded down to millions of yen)

As of December 31, 2020

As of December 31, 2019

187,428
62,41932.4
2,683.14

197,511
69,25234.2
2,987.19

Total Assets
Net Assets
Shareholder’s Equity to Total Assets Ratio (%)
Net Assets per Share (yen)Reference: Shareholder’s equity
As of December 31, 2020: ¥60,657 million
As of December 31, 2019: ¥67,481 million
C. Consolidated Cash Flows(Rounded down to millions of yen)

Fiscal Year EndedDecember 31, 2020
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Cash and Cash Equivalents at End of Period

Fiscal Year EndedDecember 31, 2019

9,694
(5,167)(2,179)10,752

10,509(7,104)(2,396)
8,369

II. Dividends

Total

AnnualDividends(million yen)

Payout Ratio(%,consolidated)

Dividend to Net
Assets Ratio(%,consolidated)

Dividend per Share (yen)1Q-end 2Q-end 3Q-end Year-end
FY Ended December
31, 2019
FY Ended December
31, 2020
FY Ending December
31, 2021 (Forecast)———30.0030.00

677

93.7

1.0—

—

—

0.00

0.00

0—

———

—

—

—

—

—

—

The year-end dividend forecast for the fiscal year ending December 31, 2021 has been undetermined at this moment.
III. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2021 (January 1, 2021－December 31, 2021)(Rounded down to millions of yen, % indicates changes from the previous period)
Net Sales
Full Year

153,500%

2.8

Operating
Income%

3,600

72.7

Ordinary
Income%3,500 105.6-2-Profit
Attributableto Ownersof Parent

2,400%-Earningsper Share(yen)106.18

* Notes
A. Changes in significant subsidiaries during the fiscal year under review (changes in specified subsidiaries
resulting in changes in the scope of consolidation): No
New: — (), Exclusion: — ()B. Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards, etc.:
2) Any changes other than 1) above:3) Changes in accounting estimates:
4) Restatements:

NoNoNoNo

C. Total number of shares issued (common stock)1) Total number of shares issued at the end of the fiscal year (including treasury shares):
As of December 31, 2020
22,984,993 shares
As of December 31, 2019
22,984,993 shares2) Total number of treasury shares at the end of the fiscal year:
As of December 31, 2020
378,173 shares
As of December 31, 2019394,565 shares
3) Average number of shares during the fiscal year:
Nine months ended December 31, 2020
22,603,897 shares
Nine months ended December 31, 2019
22,590,528 shares-3-

(Reference) Summary of Non-consolidated Financial Results
Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2020 (January 1, 2020－December
31, 2020)
A. Non-consolidated Results of Operations(Rounded down to millions of yen, % indicates changes from the previous corresponding period)

Net Sales
Operating Income
Ordinary Income
ProfitEarnings per Share (yen)BasicDilutedFiscal Year Ended
December 31, 2020
79,251(1,358)(257)(13,291)

Fiscal Year Ended
December 31, 2019(12.0)
90,016992－
2,241－
1,555－%(588.04)
68.84

%
(3.3)
97.7
(4.9)
(11.5)－68.74

B. Non-consolidated Financial Position(Rounded down to millions of yen)

Total Assets
Net Assets
Shareholder’s Equity to Total Assets Ratio (%)
Net Assets per Share (yen)Reference: Shareholder’s equity
As of December 31, 2020: ¥44,451million
As of December 31, 2019: ¥58,853 million

As of December 31, 2020

As of December 31, 2019

111,470
44,48939.9
1,966.29

130,12258,92945.2
2,605.24* These financial results are outside the scope of audit to be performed by certified public accountants or an audit
corporation.
* Explanation on the proper use of financial results forecasts and other notes
The financial results forecasts and other forward-looking statements contained in this report are based on
information available to the Company on the date of this report’s release and certain preconditions that theCompany deems to be reasonable. Actual results, etc. may differ significantly from the forecasts, however, as aresult of various factors.

-4-１. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Millions of yen)
As of December 31, 2019 As of December 31, 2020
AssetsCurrent assets
Cash and deposits

8,404

10,787

Notes and accounts receivable - trade

19,67521,780

Merchandise and finished goods

46,42643,881Work in process

6,580

6,775

Raw materials and supplies

1,171

1,189

Other

4,952

5,599

(52)

(35)

87,15989,979Buildings and structures, net

26,05025,212

Machinery, equipment and vehicles, net

9,236

7,516

Tools, furniture and fixtures, net

3,191

2,902

Land

50,75944,690

Leased assets, net

8,006

5,340

Construction in progress

1,066

596

34

28

98,34686,287

1,288

1,967

Investment securities

5,303

4,609

Long-term loans receivable

1,620

42

Deferred tax assets

1,512

2,152500

397

Other

1,908

2,129

Allowance for doubtful accounts

(128)

(136)

Total investments and other assets

10,717

9,193

110,352

97,449197,511

187,428

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets

Net defined benefit asset

Total non-current assets
Total assets-5-(Millions of yen)
As of December 31, 2019 As of December 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade22,142

20,206

Electronically recorded obligations - operating
Short-term loans payable

15,61028,633

16,66629,781

Current portion of long-term loans payable

10,717

7,679

Lease obligations

2,057

1,999

Accrued consumption taxes

665

1,636

Income taxes payable

356

438

Accrued expenses
Provision for bonuses

4,116
443

4,381
425

Other

4,990

2,933

Total current liabilities

89,735

86,147

Non-current liabilities
Long-term loans payable

21,525

24,114

Lease obligations
Deferred tax liabilities

6,390
55

5,776
57

Deferred tax liabilities for land revaluation

5,759

4,097

Provision for directors’ retirement benefits

140

145

Net defined benefit liability

3,059

3,144

Asset retirement obligations

325

322

1,267

1,203

38,52438,861

128,259

125,009

Capital stock

23,344

23,344

Capital surplus
Retained earnings

13,452
17,025

13,44914,493

Treasury shares

(982)

(941)

52,84050,346

380

(91)

(0)
12,622

(2)
8,835

648

588

Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

989

980

14,641

10,310

Subscription rights to shares

75

37

Non-controlling interests

1,694

1,724

Total net assets
Total liabilities and net assets

69,25262,419197,511

187,428

Total accumulated other comprehensive income-6-(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Subsidies received
Rent income
Gain on sales of scraps
Other
Total non-operating income
Non-operating expenses
Interest expenses
Sales discounts
Foreign exchange losses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Reversal of provision incurred from business combination
Gain on change in equity
Total extraordinary income
Extraordinary losses
Loss on sales and retirement of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on sale of investment securities
Other
Total extraordinary losses
Income (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent-7-

Fiscal year ended
December 31, 2019Fiscal year ended
December 31, 2020

149,899
105,392
44,507
41,761
2,745

149,304
105,828
43,476
41,392
2,084

192
204
48
173
78
548
1,244

172
162
33
177
41
652
1,240

729
88
115
1,472
476
2,881
1,108

634
84
63
460
379
1,621
1,702

29
243
265
―
538

28
0―
650
679

220
122
1―
0344
1,302
477
83
560
741
18

193
9,301
―
0
0
9,496
(7,114)606(2,116)(1,510)(5,604)36723(5,641)

Consolidated Statements of Comprehensive Income(Millions of yen)
Fiscal year ended
December 31, 2019
Profit (loss)

Fiscal year ended
December 31, 2020

741

(5,604)

(38)

(472)

0(2)

Foreign currency translation adjustment

(168)

49

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method

488

(9)

(47)

(112)

Total other comprehensive income

234

(547)

976

(6,151)

958(6,185)1733

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-8-(3) Consolidated Statements of Changes in Equity
Fiscal year ended December 31, 2019 (January 1, 2019－December 31, 2019)(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning of period

23,344

CapitalsurplusRetainedearnings

13,452

Total
shareholders’equityTreasuryshares16,932(983)

52,746

Changes of items during period
Dividends of surplus

(677)

(677)

Profit attributable toowners of parent723

723

Purchase of treasury shares(0)

Disposal of treasury shares
Reversal of revaluation
reserve for land
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of period

(0)

(0)

2248

48

―(0)

93

194

23,344

13,452

17,025(982)

52,840

Accumulated other comprehensive income
Valuationdifference on Deferred gains Revaluation
or losses on reserve foravailable
for-salehedgeslandsecurities
Balance at beginning of period

418

(0)

Foreigncurrencytranslation
adjustment

12,670864

TotalSubscription
Remeasureaccumulated
rights toments ofothersharesdefinedcomprehenbenefit plans
sive income

501

14,45478

Noncontrollinginterests

Total net
assets

1,681

68,959Changes of items during period
Dividends of surplus(677)

Profit attributable toowners of parent

723

Purchase of treasury shares(0)

Disposal of treasury shares

2

Reversal of revaluation
reserve for land
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of period

48(38)

0(48)

(215)

488

186(2)

13198(38)

0(48)

(215)

488

186

(2)

13292

380(0)

12,622648989

14,64175

1,694

69,252-9-Fiscal year ended December 31, 2020 (January 1, 2020－December 31, 2020)(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning of period

23,344

Capitalsurplus

Retainedearnings

13,452

17,025

Treasuryshares

(982)

Total
shareholders’equity52,840Changes of items during period
Dividends of surplus

(677)

(677)

Profit attributable toowners of parent(5,641)(5,641)

Purchase of treasury shares(3)

Disposal of treasury shares
Reversal of revaluation
reserve for land
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of period

(0)

(0)

41

38

3,787

3,787

―

(3)

(2,532)41(2,494)

23,344

13,44914,493(941)

50,346

Accumulated other comprehensive income
Valuationdifference on Deferred gains Revaluation
or losses on reserve foravailable
hedgesland
for-salesecurities
Balance at beginning of period

380

(0)

Foreigncurrencytranslation
adjustment

12,622648

Total
Subscription
Remeasureaccumulated
rights toments ofothersharesdefinedcomprehenbenefit plans
sive income

989

14,64175

Noncontrollinginterests

Total net
assets

1,694

69,252

Changes of items during period
Dividends of surplus(677)

Profit attributable toowners of parent(5,641)

Purchase of treasury shares(0)

Disposal of treasury shares

38

Reversal of revaluation
reserve for land
Net changes of items otherthan shareholders’ equity
Total changes of items during
period(471)(2)(3,787)(59)(9)(4,330)(38)

29(4,339)

(471)

(2)

(3,787)(59)(9)(4,330)(38)

29(6,833)

Balance at end of period(91)

(2)

8,835

588

980

10,31037

1,724

62,4193,787- 10 -(4) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal year ended
December 31, 2019

Fiscal year ended
December 31, 2020

Cash flows from operating activities
Income(loss) before income taxes

1,302(7,114)

Depreciation

6,852

6,987

Impairment loss

122

9,301

2

2

Increase (decrease) in net defined benefit liability

(993)

46

Loss (gain) on sales of investment securities

(243)

0

Interest and dividend income

(396)

(335)

Interest expenses

729

634

Foreign exchange losses (gains)
Loss (gain) on sales of property, plant and equipment andintangible assets
Loss (gain) on change in equity

(0)

(29)

190

164

―

(650)

Decrease (increase) in notes and accounts receivable - trade

3,528(1,807)

Decrease (increase) in inventories

(778)

3,299

Increase (decrease) in notes and accounts payable - trade(1,867)(884)

Other, net

2,851

872

Subtotal

11,29910,486

Interest and dividend income received

396

343

Interest expenses paid

(733)

(635)

Income taxes paid

(452)

(500)

10,5099,694(8,354)(6,626)

556

329

(0)

(55)

Proceeds from sales of investment securities

638

45

Decrease (increase) in loans receivable

(4)

1,174

Decrease (increase) in time deposits

53(0)―247(59)(7,104)(5,167)

Amortization of goodwill

Net cash provided by (used in) operating activities
Cash flows from investing activities
Acquisition of property, plant and equipment and intangible
assetsProceeds from sales of property, plant and equipment andintangible assets
Acquisition of investment securities

Proceeds from purchase of shares of subsidiaries resulting inchange in scope of consolidation
Other, net
Net cash provided by (used in) investing activities- 11 -(Millions of yen)
Fiscal year ended
December 31, 2019

Fiscal year ended
December 31, 2020

Cash flows from financing activities
Net increase (decrease) in short-term loans payable(2,697)

87

Proceeds from long-term loans payable

12,176

10,900

Repayments of long-term loans payable(11,902)(11,288)

Proceeds from sales and leasebacks

3,058

912

Repayments of lease obligations(2,346)(2,108)

(0)

(0)

(680)

(678)

(4)

(3)

(2,396)(2,179)Effect of exchange rate change on cash and cash equivalents

(26)

36

Net increase (decrease) in cash and cash equivalents

981

2,383

Cash and cash equivalents at beginning of period

7,387

8,369

Cash and cash equivalents at end of period

8,369

10,752

Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities- 12 -

(5) Notes to Consolidated Financial Statements(Notes to Going Concern Assumption)
Not applicable- 13 -