Consolidated Financial Results
for the Three Months Ended March 31, 2022
[Japanese GAAP]May 13, 2022
Company name: ISEKI&CO., LTD.
Stock exchange listing: Tokyo
Code number: 6310
URL: https://www.iseki.co.jp
Representative: Shiro Tomiyasu,President and Representative Director
Contact: Yoshikazu Ogusu,General Manager of Financial Department
Phone: +81-3-5604-7671
Scheduled date of filing quarterly securities report: May 13, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended March 31, 2022 (January 01, 2022 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
March 31, 2022
38,792(4.2)(230)
72(96.6)
298(84.5)
March 31, 2021
40,49526.7
1,478
2,1281,929(Note) Comprehensive income:Three months ended March 31, 2022:¥355 million [(85.6) %]Three months ended March 31, 2021:¥2,475 million [-%]
Basic earnings
per share
Three months ended
March 31, 2022
March 31, 2021

Diluted earnings pershare
Yen

Yen

13.21
85.37

13.20
85.31

(2) Consolidated Financial Position
Total assets
Million yen
As ofMarch 31, 2022
195,683
December 31, 2021
187,684(Reference) Equity: As of March 31, 2022:
As of December 31, 2021:

Net assets

Capital adequacy ratio

Million yen¥¥―1―66,234
66,56164,464 million
64,768 million

Net assets per share%

Yen

32.9
34.5

2,850.57
2,864.47

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended December 31, 2021

---

30.00

30.00

Fiscal year ending December 31, 2022

--

30.00

30.00

Fiscal year ending December 31, 2022
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

TotalNo

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2022(January 01, 2022 to December 31, 2022)(% indicates changes from the previous corresponding period.)
Net sales
Millionyen

Operating profit%

Millionyen%

Ordinary profit
Millionyen

Full year
166,500
5.3
4,700
13.3
4,600
No
(Note) Revision to the financial results forecast announced most recently:

Profit attributable toowners of parent%

Million yen%

Yen

(1.9)

3,100(3.0)

137.12* Notes:(1) Changes in significant subsidiaries during the three months ended March 31, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:Exclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2022:
22,984,993 shares
December 31, 2021:
22,984,993 shares2) Total number of treasury shares at the end of the period:
March 31, 2022:
370,348 shares
December 31, 2021:
374,045 shares
3) Average number of shares during the period:
Three months ended March 31, 2022:
Three months ended March 31, 2021:

22,612,772 shares
22,606,805 shares―2―

Basic earningsper share))
NoQuarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of December 31,2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
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, net

As of March 31,2022

14,85021,537

10,426--30,183

41,532
7,089
1,250
4,864
(21)

45,125
8,247
1,305
3,568
(57)

91,103

98,79925,64525,476Land
Other, net

44,475
14,84244,436
14,781

Total property, plant and equipment

84,962

84,695Intangible assets
Investments and other assets
Investment securities
OtherAllowance for doubtful accounts

2,290

2,353

5,054
4,383
(110)

4,961
4,984
(111)

Total investments and other assets

9,328

9,835

Total non-current assets
Total assets―3―

96,581

96,884

187,684

195,683

(Million yen)
As of December 31,2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Provision for bonuses
Other

As of March 31,2022

20,28018,99923,745
6,465
496
524
10,831

22,596
18,85931,139
6,227
369
951
10,713

81,34290,856

24,728
4,097
156
2,912
881
7,004

23,465
4,097
142
3,038
881
6,966

39,78038,592

Total liabilities

121,123

129,449

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

23,344
13,462
17,690(930)

23,344
13,464
17,310(920)

53,56753,198

250

188

2
8,835
804
1,307

(41)
8,8351,037
1,246

11,201

11,2662618

Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors
Net defend benefit liability
Asset retirement obligations
Other
Total non-current liabilities

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests

1,766

1,751

Total net assets

66,561

66,234

187,684

195,683

Total liabilities and net assets―4―Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Million yen)
For the three months
ended March 31,2021
Net sales
Cost of sales

For the three months
ended March 31,2022

40,49528,71038,792
27,985Gross profit

11,784

10,807

Selling, general and administrative expenses

10,306

11,038Operating profit (loss)

1,478(230)

3613252

36
17285

18-

401
178

271

901

611

154

136-

79

Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodSettlement received
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit

96

91

251

307

2,128

72

Extraordinary income
Gain on sale of non-current assets
Other18-120

Total extraordinary income

18135533403788

77

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes

2,058

8

Income taxes - current
Income taxes - deferred

493
(369)

259
(536)

Total income taxes

124(277)

1,934

285

4(13)

1,929

298

ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent―5―

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Million yen)
For the three months
ended March 31,2021

For the three months
ended March 31,2022

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

1,934

285

399
5
129
(10)

(61)
(44)
242
(61)

16(5)

541

70

Comprehensive income

2,475

355

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests2,466363

8(7)―6―