Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2021
(Based on Japanese GAAP)
February 8, 2022
Company name:
TODA KOGYO CORP.
Stock exchange listing: Tokyo
Stock code:
Representative:

4100
URL https://www.todakogyo.co.jp
President and Representative Director
Shigeru Takaragi

Inquiries:

Department Manager of Corporate Planning
Department

Atsushi Tomokawa

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 10, 2022–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoNo

TEL

082-577-0055(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2021
24,676
–
1,649
–
2,757
–
2,105
–
Nine months ended December 31, 2020
20,372 (15.9)(354)–(411)–(705)–
Earnings per share

Diluted earnings per share

Yen
365.23(122.38)

Nine months ended December 31, 2021
Nine months ended December 31, 2020

Yen
362.97–(2) Consolidated financial position
Total assets

Net assets

Millions of yen
49,30341,783

As of December 31, 2021
As of March 31, 2021

Equity ratio

Millions of yen
12,287
9,375

%
21.7
19.5

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00
0.00

Yen––

Yen
0.00

Yen
0.00

0.00

0.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Net sales
Full year

Millions of yen
34,500Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen–
2,200–
3,400–
2,300–
399.01

14. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021

6,099,192 shares As of March 31, 2021

6,099,192 shares

334,548 shares As of March 31, 2021

335,871 shares

Number of treasury shares at the end of the period
As of December 31, 2021

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2021

5,764,206 shares Nine months ended December 31, 2020

25,763,747 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of December 31, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

6,629
8,180

7,040
9,664

Merchandise and finished goods
Work in process

3,362
1,409

4,375
1,942

Raw materials and supplies
Other

2,146
1,342

3,040
1,365

Allowance for doubtful accounts
Total current assets

(6)

(5)

23,06527,423

2,340

2,327

1,294
6,317

1,825
6,315

177
578

147
772

10,70911,388–

1,959

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other

200

144

Total intangible assets

200

2,103

3,526
4,284

2,635
5,755

(3)

(3)

Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

7,807

8,387

18,71821,87941,78349,303

(Millions of yen)
As of March 31, 2021

As of December 31, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade

3,995

5,794

9,372
3,756

7,982
3,478

Income taxes payable
Provision for bonuses

165
259

177
104

Provision for environmental measures
Provision for loss on factory closing

60
80

6347

Short-term borrowings
Current portion of long-term borrowings

Other

1,359

1,580

Total current liabilities

19,051

19,229Long-term borrowings
Long-term accounts payable - other

10,070–13,537901

Retirement benefit liability
Other

2,080
1,206

2,033
1,314

Total non-current liabilities

13,356

17,78632,40837,015

Shareholders' equity
Share capital

7,477

7,477

Capital surplus
Retained earnings

4,344(3,224)

4,340(1,123)

Treasury shares(1,513)(1,506)

Total shareholders' equity

7,083

9,187

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

779
281

657
856

Remeasurements of defined benefit plans

(9)

(13)

1,052

1,501

Non-current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income

Total accumulated other comprehensive income
Share acquisition rights

66

81

Non-controlling interests

1,173

1,518

Total net assets

9,375

12,287

41,78349,303

Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2020

December 31, 2021

Net sales
Cost of sales

20,372
17,172

24,676
19,049Gross profit

3,200

5,627

Selling, general and administrative expenses
Employees' salaries

775861

Research and development expenses
Other948
1,830

892
2,224

Total selling, general and administrative expenses

3,554

3,977(354)1,649Interest income
Dividend income

2852

3140

Outsourcing service income
Share of profit of entities accounted for using equity method

10–

11
1,069

Foreign exchange gains
Subsidies for employment adjustment

–
139

33
20

Other

123

138

Total non-operating income

355

1,346

Interest expenses
Share of loss of entities accounted for using equity method

164
189

151
–

Foreign exchange losses
Other

38
19–
86

Total non-operating expenses

411

237(411)2,757

Operating profit (loss)
Non-operating income

Non-operating expenses

Ordinary profit (loss)
Extraordinary income
Gain on disposal of non-current assets

83

Gain on sale of investment securities
National subsidies––

40
20Total extraordinary income

863

1945

Loss on tax purpose reduction entry of non-current assets–16

Total extraordinary losses

1961

Profit (loss) before income taxes

(422)

2,760

Income taxes - current
Income taxes - deferred

150
19263
131

Total income taxes

169

394

Profit (loss)

(591)

2,365

Profit attributable to non-controlling interests

113

260

Profit (loss) attributable to owners of parent

(705)

2,105

Extraordinary losses
Loss on disposal of non-current assets

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Profit (loss)
Other comprehensive income

Nine months ended

Nine months ended

December 31, 2020

December 31, 2021
(591)

2,365

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

514
(59)

(121)
478

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted

24(4)

(0)

193

478

545

Comprehensive income

(113)

2,911

Comprehensive income attributable toComprehensive income attributable to owners of parent

(220)

2,554

106

357

for using equity method
Total other comprehensive incomeComprehensive income attributable to non-controllinginterests

6