Consolidated Financial Results
for the Six Months Ended June 30, 2022
[Japanese GAAP]
August 10, 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: August 10, 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 Six Months Ended June 30, 2022 (January 01, 2022 to June 30, 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%Six months ended
June 30, 2022
86,7210.1
2,567(45.6)
3,328(39.6)
2,578(37.5)
June 30, 2021
86,672
20.0
4,721
271.6
5,508
415.4
4,127
321.2
(Note) Comprehensive income:Six months ended June 30, 2022:¥2,985 million [(35.6) %]Six months ended June 30, 2021:¥4,637 million [-%]
Basic earnings
per share
Six months ended
June 30, 2022
June 30, 2021

Diluted earnings pershare
Yen

Yen

114.04182.56114.00182.44(2) Consolidated Financial Position
Total assets
Million yen
As ofJune 30, 2022
201,330
December 31, 2021
187,684(Reference) Equity: As of June 30, 2022:
As of December 31, 2021:Net assets

Capital adequacy ratio

Million yen¥¥―1―68,863
66,561
67,061 million
64,768 million

Net assets per share%

Yen

33.3
34.5

2,965.12
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)Year-end

TotalNo(Note) Revision to the forecast for dividends announced most recently:

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.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share%

Million yen%

Million yen%

Yen

Full year
166,500
5.3
4,700
13.3
(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

4,600
No

(1.9)

3,100

(3.0)

137.12* Notes:(1) Changes in significant subsidiaries during the six months ended June 30, 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):
June 30, 2022:
22,984,993 shares
December 31, 2021:
22,984,993 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
368,249 shares
December 31, 2021:
374,045 shares
3) Average number of shares during the period:
Six months ended June 30, 2022:
Six months ended June 30, 2021:

22,614,492 shares
22,607,435 shares―2―))
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 June 30,2022

14,85021,537

13,248--34,324

41,532
7,089
1,250
4,864(21)42,248
9,508
1,361
3,707
(54)

91,103

104,344

25,64525,775Land
Other, net

44,475
14,84244,515
14,326

Total property, plant and equipment

84,962

84,617

Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts

2,290

2,390

5,054
4,383
(110)

5,252
4,833
(107)

Total investments and other assets

9,328

9,977

Total non-current assets
Total assets―1―

96,581

96,985

187,684

201,330

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

As of June 30,2022

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

20,90923,55230,016
11,137761
706
11,237

81,342

98,321

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

18,960
4,097
148
12
3,049
905
6,970

39,78034,144

Total liabilities

121,123

132,466

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

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

23,344
13,13919,590(591)

53,56755,483

250

252

2
8,835
804
1,307(52)
8,835
1,341
1,200

11,201

11,577

Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors
Provision for share awards 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

26

12

Non-controlling interests

1,766

1,789

Total net assets
Total liabilities and net assets―2―

66,561

68,863

187,684

201,330

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)(Million yen)
For the six months
ended June 30,2021

For the six months
ended June 30,2022

Net sales
Cost of sales

86,67260,886

86,72161,545Gross profit

25,78525,176

Selling, general and administrative expenses

21,06422,609Operating profit

4,721

2,567

71
78
281

69
136
766

34-

401
429

486

1,297

1,459

300

309-185

209

203

510

698

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

5,508

3,328

Extraordinary income
Gain on sale of non-current assets
Gain on change in equity
Other28-27
41
0Total extraordinary income

286984
34065
142-

119

207

Profit before income taxes

5,418

3,189

Income taxes - current
Income taxes - deferred

1,367
(100)

928
(332)

Total income taxes

1,267

595

Profit

4,151

2,594

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Other
Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent―3―2415

4,127

2,578

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Million yen)
For the six months
ended June 30,2021

For the six months
ended June 30,2022

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

4,151

2,594

332
4149
(21)

3(55)
559
(107)

21(9)

486

391

Comprehensive income4,637

2,985

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

4,609

2,955

2830

―4―

Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended June 30,2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Impairment losses
Increase (decrease) in retirement benefit liability
Loss (gain) on sale of investment securities
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sale of property, plant and equipment
and intangible assets
Loss (gain) on change in equity
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net

For the six months
ended June 30,2022
5,418
3,171
134(83)0(150)
300(84)

3,189
3,027
1142
111(206)
309
(123)

55

38(10,226)
4,456
4,058
1,230(41)(12,285)(2,280)
4,407
2,249

Subtotal

8,182(1,460)Interest and dividends received
Interest paid
Income taxes paid154(295)(591)

206(302)(528)Net cash provided by (used in) operating activities

7,449(2,085)(2,562)(3,115)

561

228

(0)
3(252)
904

(200)
(253)
22(1,345)(3,317)

Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from sale and leaseback transactions
Repayments of lease obligations
Purchase of treasury shares
Proceeds from sale of treasury shares
Dividends paid
Other, net(2,575)5,284(5,146)534(1,035)
(0)
(1)
(4)

5,868
2,136(3,406)
264(886)(312)
312(677)(4)

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cashequivalents
Net increase (decrease) in cash and cash equivalents(2,944)

3,294

120

254

3,280

(1,854)

Cash and cash equivalents at beginning of period

10,75214,800Cash and cash equivalents at end of period

14,032

12,945

Cash flows from investing activities
Purchase of property, plant and equipment andintangible assets
Proceeds from sale of property, plant and equipment
and intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Decrease (increase) in time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities―5―