IR Briefing for the Fiscal Year Ended
March 31, 2021 (FY03/21)(Overview)
June 3, 2021

Inabata & Co., Ltd.
Kenichi Yokota

Director and Senior Managing Executive Officer

FY03/21
Overview of Consolidated Operating Performance

Profits reached record highs.
Net sales:¥577.5 billion-3.8% YoY

Net sales declined due to the spread of the novel coronavirus pandemic.

Operating profit:¥14.9 billion+13.2% YoY

Operating profit increased owing to lower SG&A expenses.

Ordinary profit:¥16.5 billion+16.2% YoY

Ordinary profit increased on operating profit growth and a decline in interest
expenses.
親会社株主に帰属する

13.7

当期純利益
Profitattributable to¥billion+20.8% YoY
owners of parent:
Profit attributable to owners of parent increased on higher ordinary profit.
2Copyright © INABATA＆CO., LTD. 2021

FY03/21
Overview of Consolidated Operating Performance(Billions of yen)
YoY change

Forecast
announced
November 5,2020(B)

Achievement
rate（A)/(B)

FY03/20

FY03/21(A)

AmountNet sales

600.3

577.5

-22.7 -3.8%

550.0

105.0%

Operating profit

13.2

14.9+1.7 +13.2%

12.0124.8%

Ordinary profit

14.2

16.5

+2.3 +16.2%

12.7

130.0%

11.4

13.7+2.3 +20.8%

10.5

131.4%

Profit attributable toowners of parent
Exchange rate
(USD/JPY)

108.70 106.10-2.60%

106.003Copyright © INABATA＆CO., LTD. 2021

Operating Performance(Net sales:billions of yen)

(Profits:millions of yen)

16,5141,000

14,30914,031
12,896

14,211
13,22915,00014,973
13,792

16,00014,50014,000Net sales

12,00011,415

621.1

500

634.7

6,744

600.3

577.5

600.0

Ordinary profit

8,000
Profit attributableto owners ofparent

6,3745,962

4,00000

FY03/18(Reference)
Exchangerate(USD/JPY)

Oparating profit

FY03/19

FY03/20

FY03/21

FY03/22(Forecast)

FY03/18

FY03/19

FY03/20

FY03/21

FY03/22110.85110.92108.70106.10105.00Notes: Recorded allowance for doubtful accounts (¥6.65 billion) at a European subsidiary in FY03/18
Recorded ¥0.75 billion in reversal of allowance for doubtful accounts at a European subsidiary in FY03/21.
Gain on sales investment securities were ¥8.38 billion in FY03/18, ¥5.11 billion in FY03/19, ¥3.03 billion in FY03/20, ¥ 2.98 billion in FY03/21.
4
Revised Accounting Standard for Revenue Recognition is applied to sales figures for FY03/22 (forecast) and later.
Copyright © INABATA＆CO., LTD. 2021

Balance Sheet✓Thanks to an increase in the market value of securities held, investment
securities and accumulated other comprehensive income grew.
✓Accounts receivable and accounts payable increased on sharp recovery
in business in the second half of FY03/21.
(Billions of yen)
Assets

End-FY03/20

End-FY03/21

ChangeTotal assets

29.4
152.4
55.9
7.3
13.9
3.0
54.26.5
322.8

31.4 +2.0
162.7 +10.2
54.1 -1.7
8.6 +1.3
14.3 +0.4
2.9 -0.0
71.5 +17.3
7.3 +0.8353.2 +30.3

Current ratio

162.6%

170.6%Cash and deposits
Notes and accounts
receivable - trade
Inventories
Other current assets
Property, plant andequipmment
Intangible assets
Investment securities
Other fixed assets

Liabilities and net assets
Notes and accounts
payable - trade

End-FY03/20

End-FY03/21

ChangeTotal liabilities and netassets

96.7
43.0
10.9
9.7
14.5
119.1
26.7
1.8
322.8

104.1 +7.3
33.7 -9.3
12.7 +1.8
7.4 -2.2
19.3 +4.7
129.1 +10.0
44.6 +17.8
1.9 +0.1
353.2 +30.3

Equity ratio

45.2%

49.2%

Short-term loans payable
Other current liabilities
Long-term loans payable
Other non-current
liabilities
Shareholders' equity
Accumulated othercomprehensive income
Non-controlling interests

5Copyright © INABATA＆CO., LTD. 2021

Equity Capital, Net Interest-Bearing Debt,
Net Debt/Equity Ratio(Billions of yen)

Equity capital

Net interest-bearing debt

Net debt/equity ratio

0.80200150

162.9146.2141.4

173.8
145.9

0.60

0.40

100500(Times)

0.30

0.28

43.7

39.4

0.19
30.3

0.16
23.4

0.20

0.06
9.7

End-FY03/17 End-FY03/18 End-FY03/19 End-FY03/20 End-FY03/21

Notes: Equity capital = Net assets – stock acquisition rights – non-controlling interests
Net debt/equity ratio = (Interest-bearing debt – cash and deposits) / equity capital

0.00

6Copyright © INABATA＆CO., LTD. 2021

Sales by Business Segment
In Information & Electronics, sales increased on higher FPD-related sales.
In Plastics and Chemicals, sales were down due to the impact of the
COVID-19 pandemic.

Sales(Billions of yen)

FY03/20

FY03/21 YoY change

Information &Electronics

218.6

224.5

+2.7%

Chemicals

74.1

66.6

-10.2%

Life Industry

36.9

37.3

+1.2%

Plastics

270.3

248.8

-7.9%

Other

0.1

0.1

-2.0%

Total

600.3

577.5

-3.8%

Plastics
43.1%

Lifeindustry
6.5%

FPD: Flat panel displays such as liquid crystal displays (LCDs) and organic LEDs (OLEDs)

Information& Electronics
38.9%

Chemicals
11.5%
7Copyright © INABATA＆CO., LTD. 2021

Gross Profit and Operating Profit by Business Segment
In Information & Electronics, profit rose due to robust sales of mainstay
products and lower SG&A expenses, including the reversal of allowance for
doubtful accounts.
In Life Industry, sales of processed marine products for conveyor belt sushi
restaurants and frozen vegetables and fruits grew.

Gross profit(Millions of yen)

Operating profit(Millions of yen)

FY03/20

FY03/21

YoY change

Information &Electronics

14,055

14,511+3.2%

Information &Electronics

4,482

6,327+41.2％

Chemicals

5,506

5,417

-1.6%

Chemicals

1,208

1,320+9.2%Life Industry

4,890

5,074

+3.8%

Life Industry

1,166

1,563+34.0%

Plastics

21,671

20,906-3.5%

Plastics

6,235

5,631-9.7%

Other135

130-4.0%

Other

135

130-4.0%

Total

46,25946,040

-0.5%

Total

13,22914,973+13.2%

FY03/20

FY03/21

YoY change

Note: In the Information & Electronics segment, recorded ¥0.75 billion in reversal of allowance for doubtful accounts
8
at a European subsidiary in FY03/21.
Copyright © INABATA＆CO., LTD. 2021

Sales by RegionSoutheast Asia: Despite recovery in the second half of FY03/21, sales fell
due to the impact of lockdowns implemented in the first half of the year.

Sales(Billions of yen)
FY03/20

FY03/21

YoY changeSoutheast
Asia

134.6

122.1

-9.3%

Northeast
Asia

152.0

157.2

+3.4%

Americas

21.9

20.0

-8.6%

Europe7.6

9.0+18.7%

Japan

283.9

269.0

-5.3%

Total(Overseasratio)

600.3

577.5

-3.8%

(52.7%)(53.4%)(+0.7%)Southeast
Asia
21.1%
Japan
46.6%

Europe1.6%

Note: Sales in the Japan segment include exports (¥48.9 billion in FY03/21).
Including this amount, the percentage of overseas sales was 60.4% in FY03/20 and 61.6% in FY03/21.

NortheastAsia
27.2%

Americas
3.5%

9Copyright © INABATA＆CO., LTD. 2021

Operating Profit by Region
Northeast Asia Profit increased on robust FPD-related sales.
Europe
Profit rose due to the reversal of allowance for doubtful accounts.

Operating profit(Millions of yen)

FY03/20

FY03/21

YoY change

4,355

3,741

-14.1%

2,032

2,671

+31.5%

Americas559

483-13.6%

Europe-34

1,035-Japan

5,980

6,759

+13.0%

Subtotal

12,892

14,691+14.0%

336

281

Total

13,22914,973+13.2%(Overseasratio)(53.6%)(54.0%)(+0.4%)Southeast
Asia
Northeast
Asia

Elimination orcorporateJapan
46.0%

Europe7.0%Southeast
Asia
25.5%
Northeast
Asia
18.2%

Americas
3.3%

10Copyright © INABATA＆CO., LTD. 2021

Sales and Operating Profit in the Manufacturing Sector
Film-related sales were strong both in Japan and overseas, but sales and profit
fell due to the impact of lockdowns on compound factories in the first half of
FY03/21.

Sales(Billions of yen)

(Millions of yen)

Operating profit

2,000
60.0

55.0

51.8

40.0

1,500

1,603

1,587

FY03/20

FY03/211,00020.0

5000.00

FY03/20

FY03/21

Notes: Results for FY03/20 have been converted at the exchange rate for FY03/21.
In FY03/21, the Company made a partial change to the classification of group companies and added a manufacture andprocessing company (based in Japan) to consolidated subsidiaries (marine products processing company Ikkoen Co., Ltd.)

11Copyright © INABATA＆CO., LTD. 2021

Sales by Business Segment(Billions of yen)

800.0

634.7

Other0.1

600.0

300.00.0

Other0.1

577.5

600.0
Other

Other0.2

0.1

270.3248.8

267.0

39.0
77.5

36.9
74.1

37.3
66.6

38.8
68.0

217.9

218.6

224.5

226.0

FY03/19

FY03/20

FY03/21

FY03/22

400.0

200.0

600.3

(Actual)(Actual)(Actual)OtherPlastics
Life Industry
Chemicals
Information &Electronics(Forecast)

Notes: The Housing & Eco Materials segment was combined with the Chemicals segment in FY03/20. FY03/19 results have been calculated
according to the new alignment.
Revised Accounting Standard for Revenue Recognition is applied to sales figures for FY03/22 (forecast) and later.

12Copyright © INABATA＆CO., LTD. 2021

Operating Profit by Business Segment(Billions of yen)

16.0

14.0

14.9
Other

0.13

13.2

8.0

1.42
4.0

0.0

5.63

6.23
1.56

1.31

1.16
1.20

4.81

4.48

FY03/19(Actual)

FY03/20(Actual)

14.5

0.13

Other

0.13

12.0

6.34

Other

1.32

6.32

FY03/21(Actual)

Other

0.10

6.25

Other
Plastics
Life Industry

1.90

Chemicals

1.20

Information &Electronics

5.05
FY03/22(Forecast)

Notes: In FY03/18, we posted an allowance for doubtful accounts in relation to a European subsidiary, of ¥5.90 billion in theInformation & Electronics segment and ¥0.75 billion in the Chemicals segment.
Recorded ¥0.75 billion in reversal of allowance for doubtful accounts at a European subsidiary in FY03/21.
13
The Housing & Eco Materials segment was combined with the Chemicals segment in FY03/20.
Copyright © INABATA＆CO., LTD. 2021
FY03/19 results have been calculated according to the new alignment.

Consolidated Subsidiaries
Companies
Japan

Overseas

Total

Consolidated subsidiaries

73744(Of which, manufacturers andprocessing companies)

(5)

(17)

(22)

Equity-method affiliates

415(Of which, manufacturers andprocessing companies)

(2)

(1)

(3)

Total

113849(Of which, manufacturers andprocessing companies)

(7)

(18)

(25)

Note: In FY03/21, the Company made a partial change to the classification of group companies and added a manufacture andprocessing company (based in Japan) to consolidated subsidiaries (marine products processing company Ikkoen Co., Ltd.)

14

Copyright © INABATA＆CO., LTD. 2021

Principal Consolidated Subsidiaries(Millions of yen)Company

Location

Taiwan Inabata
TaiwanSangyo Co., Ltd.
Inabata Sangyo
Hong Kong(H.K.) Ltd.
Inabata Singapore
Singapore(Pte.) Ltd.
Inabata Thai Co.,
ThailandLtd.
Shanghai Inabata
Shanghai
Trading Co., Ltd.
PT. Inabata
Indonesia
Indonesia
Inabata Fine TechJapan& Co., Ltd.

FY03/21

FY03/20
Net sales

Operating Net
Operating Net
Net sales
incomeincomeprofitprofitYoY change
Net sales

Operatingprofit

Net income

51,517635

467 34,651

654

454 -32.7% +3.0%-2.8%

62,522731

418 60,456

811

172

-3.3% +11.1%-58.9%

47,719578

754 48,414

745

941 +1.5% +29.0%+24.8%

37,413477

542 35,110

562

445

-18.0%

56,156339

187 60,682

942

768 +8.1% +177.7％ +310.6%

26,764

1,096

631 18,781

679

437 -29.8% -38.0％-30.8%

18,200376

239 17,839

543

355+48.5%

Note: Results for FY03/20 have been converted at the exchange rate for FY03/21.

-6.2% +17.8%-2.0% +44.4%

15Copyright © INABATA＆CO., LTD. 2021

(Reference) Equity Capital
Capital stock and capital surplus

Retained earnings

Treasury shares

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Foreign currency translation adjustment

Remeasurements of defined benefit plans(Billions of yen)

162.9146.2
1502.7
45.6

50

83.2
17.0

141.4

3.2

2.5
37.2

87.1

Treasury shares:
-2.0

-50

Remeasurements ofdefined benefit plans:-0.2

FY03/17

4.5

48.8

39.3

97.8

106.1

116.7

Treasury shares:-2.7
Remeasurements ofdefined benefit plans:
0.0

FY03/18

145.9
1.4
26.1

17.1

17.0

173.8

Deferred gains orlosses on hedges
0.1

17.1
Treasury shares:-3.7
Remeasurements ofdefined benefit plans:-0.2

FY03/19

16.5

Treasury shares:-4.1
Remeasurements ofdefined benefit plans:-1.0

FY03/20

Deferred gains orlosses on hedges
0.1

Treasury shares:-4.1
Remeasurements ofdefined benefit plans:-0.5

FY03/21
16Copyright © INABATA＆CO., LTD. 2021

(Reference) Impact of Exchange Rate Fluctuations on theForeign Currency Translation Adjustment
Foreign currency translation adjustment(Billions of yen)

6.0
4.0

2.7

2.5

FY03/17

FY03/18

4.5

3.2
1.4

2.00.0FY03/19

FY03/20

FY03/21

USD/JPY

CNY/JPY108.34110.85110.92108.70106.10

16.10

16.74

16.54

15.55

15.68

FY03/17

FY03/18

FY03/19

FY03/20

FY03/21(Yen)

150.00100.0050.00
0.00

17Copyright © INABATA＆CO., LTD. 2021

 IR Inquiries

IR Department, Financial Management Office, Inabata & Co., Ltd.
E-mail: inabata-ir@inabata.com

Cautionary note regarding future estimates
The data and future predictions contained in this document are based on information available andjudgments applicable at the time of the document’s release. The data and future forecasts contained
herein may include elements that are subject to change, and this document and its contents are no
guarantee of future performance.
Presentation of numbers
Yen figures presented in these materials have been rounded off below the unit indicated. Consequently,
individual figures may not sum to the total amounts indicated.

18