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 Six Months Ended September 30, 2021
(Based on Japanese GAAP)
November 10, 2021
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:

November 12, 2021–

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

Yes
Yes

TEL

082-577-0055((Amounts less than one million yen are rounded down))
1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changesProfit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2021
15,986–
1,259–
1,865–
1,550–
Six months ended September 30, 2020
13,381 (14.5)(473)–(568)–(725)–
Earnings per share

Diluted earnings per share

Yen
269.04(125.87)

Six months ended September 30, 2021
Six months ended September 30, 2020

Yen
267.52–(2) Consolidated financial position
Total assets

Net assets

Millions of yen47,840
41,783As of September 30, 2021
As of March 31, 2021

Equity ratio

Millions of yen
11,374
9,375%
20.8
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
31,000Percentages 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–
1,700–
2,400–
1,800–
312.32

1

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 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 September 30, 2021

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

6,099,192 shares

334,318 shares As of March 31, 2021

335,871 shares

Number of treasury shares at the end of the period
As of September 30, 2021

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2021

5,764,014 shares Six months ended September 30, 2020

25,763,779 shares

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

As of September 30, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

6,629
8,180

7,517
9,258

Merchandise and finished goods
Work in process

3,362
1,409

3,926
1,690

Raw materials and supplies
Other

2,146
1,342

2,574
1,781

Allowance for doubtful accounts
Total current assets

(6)

(6)

23,06526,741

2,340

2,328

1,294
6,317

1,828
6,312

177
578

149
774

10,70911,393–

1,984

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

200157Total intangible assets

200

2,142

3,526
4,284

2,493
5,073

(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

7,563

18,71821,09941,78347,840(Millions of yen)
As of March 31, 2021

As of September 30, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade

3,995

4,937

9,372
3,756

8,276
3,631

Income taxes payable
Provision for bonuses

165
259248180

Provision for environmental measures
Provision for loss on factory closing

60
80

61
49

Short-term borrowings
Current portion of long-term borrowings

Other

1,359

1,338

Total current liabilities

19,051

18,723Long-term borrowings
Long-term accounts payable - other

10,070–13,3681,060

Retirement benefit liability
Other

2,080
1,206

2,039
1,275

Total non-current liabilities

13,356

17,74232,40836,465

Shareholders' equity
Share capital

7,477

7,477

Capital surplus
Retained earnings

4,344(3,224)

4,340(1,678)Treasury shares(1,513)(1,506)

Total shareholders' equity

7,083

8,633

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

779
281

565
764

Remeasurements of defined benefit plans

(9)

(3)

1,052

1,326

Non-current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income

Total accumulated other comprehensive income
Share acquisition rights

66

74

Non-controlling interests

1,173

1,341

Total net assets

9,375

11,374

41,78347,840Total 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)Six months ended

Six months ended

September 30, 2020

September 30, 2021

Net sales
Cost of sales

13,381
11,525

15,986
12,236Gross profit

1,856

3,749

Selling, general and administrative expenses
Employees' salaries

515

566

Research and development expenses
Other605
1,209

536
1,387

Total selling, general and administrative expenses

2,329

2,490(473)1,259Interest income
Dividend income

17342021

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

6–

7639

Subsidies for employment adjustment
Foreign exchange gains

63019–

Other

43

101

Total non-operating income

165

811

108
145

96–

–
625
83

260

204(568)

1,865

Operating profit (loss)
Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on disposal of non-current assets

73

Gain on sale of investment securitiesNational subsidies

–
–

39
20

Total extraordinary income

763

15

14

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

16

Total extraordinary losses

1531

Profit (loss) before income taxes

Extraordinary losses
Loss on disposal of non-current assets

(576)

1,898

Income taxes - current
Income taxes - deferred

81
8166
81

Total income taxes

90247

Profit (loss)

(666)

1,650

Profit attributable to non-controlling interests

59

99

Profit (loss) attributable to owners of parent

(725)

1,550

5

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

Profit (loss)
Other comprehensive income

Six months ended

Six months ended

September 30, 2020

September 30, 2021
(666)

1,650

260(160)

(214)
405

155(26)

157

89354

Comprehensive income(576)2,004Comprehensive income attributable toComprehensive income attributable to owners of parent

(610)

1,825

33179

Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity methodTotal other comprehensive income

Comprehensive income attributable to non-controllinginterests6