Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the First Quarter of Fiscal 2021 ended March 31, 2021
August 12, 2020

Company: Taiheiyo Cement Corporation
Fiscal 2020 1Q
Stock code: 5233
Fiscal 2020
URL:
https://www.taiheiyo-cement.co.jp/english/index.html Fiscal 2021 1Q
Fiscal 2021

: April 1, 2019 through June 30, 2019
: April 1, 2019 through March 31, 2020
: April 1, 2020 through June 30, 2020
: April 1, 2020 through March 31, 2021

The accompanying consolidated financial results are not intended to present the financial results in accordance withaccounting principles and practices generally accepted in countries and jurisdictions other than Japan.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the First Quarter of Fiscal 2021 (April 1, 2020 through June 30, 2020)(% of change from previous year)(1) Operating Results
Profit attributable toNet Sales
Operating income
Ordinary income
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Fiscal 2021 1Q
200,560
(3.0)
7,023
17.1
7,136
14.4
3,267
(41.8)
Fiscal 2020 1Q
206,868(2.1)
5,996(38.5)
6,235(37.6)
5,614(8.4)* Comprehensive income : Fiscal 2021 1Q 3,776 (-30.8%) Fiscal 2020 1Q 5,454

Earnings per share
Diluted earnings per share
Yen
Yen
26.80
45.87
-Fiscal 2021 1Q
Fiscal 2020 1Q(2) Financial Position

Total assets
Millions of yen
1,052,051
1,032,923

Fiscal 2021 1Q
Fiscal 2020

* Equity : Fiscal 2021 1Q 432,883

Total net assets
Millions of yen
469,273473,241

Equity ratio%
41.1
42.3

Fiscal 2020 436,678

2. Dividends
Dividend per shareFiscal 2020
Fiscal 2021
Fiscal 2021(forecast)

1Q

2Q

3Q

4Q

Total

Yen-

Yen
30.00

Yen-

Yen
30.00

Yen
60.00

30.00

-

30.00

60.00

3. Consolidated Financial Results Forecast for the Fiscal 2021 (April 1, 2020 through March 31, 2021)(% of change from the corresponding period of the previous year)

Net sales
Millions of yen

First half
Full year

414,000
876,000

Operating income% Millions of yen(4.0)
16,500(0.9)
55,000

Profit attributable toowners of parent% Millions of yen%
(26.6)
9,000(44.5)(10.0)
32,000(18.3)

Ordinary income% Millions of yen(26.5)
16,500(9.8)
54,500Earnings
per shareYen
73.53
261.44* This forecast is based on the information available at the date of publication of this material and assumptions at the same date withrespect to the various factors which might have impact on the future financial results. Actual results may differ materially from thisforecast due to various factors.

Page 1 of 6

Consolidated Balance Sheets(Millions of yen)
Fiscal 2020

Fiscal 2021 1Q(As of March 31, 2020)(As of June 30, 2020)

Cash and deposits

51,641

79,256

Notes and accounts receivable - trade

159,048

144,828

Electronically recorded monetary claims - operating

13,507

13,464Merchandise and finished goods

30,89732,216Work in process

2,310

3,088

Raw materials and supplies

45,07546,784Other

17,324

19,031

AssetsCurrent assets

Allowance for doubtful accounts(1,302)(1,307)

Total current assets

318,502337,364

Buildings and structures, net

138,947

137,769

Machinery, equipment and vehicles, net

162,944

162,949

Land

164,869

165,585

Non-current assets
Property, plant and equipment

Other, net

77,792

77,846

Total property, plant and equipment

544,553

544,151

Intangible assets
Goodwill179

208

Other

29,63429,508

Total intangible assets

29,81429,716

Investment securities

82,931

85,072Retirement benefit asset

11,09011,054

Investments and other assets

Other

52,35850,989Allowance for doubtful accounts(6,327)(6,296)

Total investments and other assets

140,053

140,819

Total non-current assets

714,420714,687

1,032,923

1,052,051

Total assets

Page 2 of 6

(Millions of yen)
Fiscal 2020

Fiscal 2021 1Q(As of March 31, 2020)(As of June 30, 2020)

83,43075,893Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

5,330

5,376

Short-term borrowings

120,783

151,600

Commercial papers

12,00019,000

Income taxes payable

6,024

2,510

Provision for bonuses

6,158

4,741

Other provisions

13992

Other

79,906

83,716

Total current liabilities

313,771

342,930

Bonds payable

30,00030,000Long-term borrowings

103,332

98,148Retirement benefit liability

24,99924,457

Provision for retirement benefits for directors

521

460

Provision for special repairs

128141

Non-current liabilities

Other provisions
Asset retirement obligations

828

840

7,341

7,378

Other

78,75878,421

Total non-current liabilities

245,910

239,848

Total liabilities

559,682582,778

Net assets
Shareholders' equity
Share capital

86,174

86,174

Capital surplus

60,23360,282Retained earnings

326,086

325,677

Treasury shares(16,098)(20,006)

Total shareholders' equity

456,395

452,128

6,723

8,490

(0)

(0)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land

4,968

4,968

Foreign currency translation adjustment(21,413)(22,971)

Remeasurements of defined benefit plans(9,995)(9,731)

Total accumulated other comprehensive income(19,716)(19,244)

Non-controlling interests

36,56336,389Total net assets
Total liabilities and net assets

473,241

469,273

1,032,923

1,052,051

Page 3 of 6

Consolidated Statements of Income(Millions of yen)
Fiscal 2020 1Q

Fiscal 2021 1Q(April 1, 2019 throughJune 30, 2019)(April 1, 2020 throughJune 30, 2020)

Net sales

206,868

200,560

Cost of sales

167,554

162,517Gross profit

39,31338,043

Selling, general and administrative expenses

33,31731,019Operating income

5,996

7,023

Non-operating income
Interest income

103

97

Dividend income

559

585

Share of profit of entities accounted for using equity method

623

287

Other

587

706

1,874

1,677

Interest expenses

984

887

Other

650

677

Total non-operating expenses

1,634

1,564

Ordinary income

6,235

7,136

Gain on disposal of non-current assets

13977

Gain on sales of investment securities

78-

Total non-operating income
Non-operating expenses

Extraordinary income

Compensation income

2,730

-

15122,963

90

Loss on disposal of non-current assets

638

670

Loss on withdrawal from business

185--

358

Other
Total extraordinary income
Extraordinary losses

Loss on temporary suspension of operations
Other

11379

Total extraordinary losses

836

1,408

Profit before income taxes

8,363

5,819

Income taxes

2,693

2,221

Profit

5,669

3,597

55

329

5,614

3,267

Profit attributable to non-controlling interests
Profit attributable to owners of parentPage 4 of 6Consolidated Statements of Comprehensive Income(Millions of yen)

ProfitFiscal 2020 1Q

Fiscal 2021 1Q(April 1, 2019 throughJune 30, 2019)(April 1, 2020 throughJune 30, 2020)

5,669

3,597

Other comprehensive income
Valuation difference on available-for-sale securities

(341)

1,942

Deferred gains or losses on hedges

1(0)Foreign currency translation adjustment

96(1,680)Remeasurements of defined benefit plans

124256

Share of other comprehensive income of entities accounted for using equity method

(96)

(339)

Total other comprehensive income

(215)

179

Comprehensive income

5,454

3,776

5,356

3,740

9836

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

Page 5 of 6

Consolidated Segment Information
Fiscal 2020 1Q (April 1, 2019 through June 30, 2019)【Industry Segments】(Millions of yen)
Reportable Segments
CementBusiness

MineralResources
Business

Environmental
Business

Construction
Materials
Business

Total

Other

Total

Consolidated
Total

Adjustment

Net sales
Sales to outsidecustomers

144,183

13,757

18,703

17,949194,593

12,275

206,868-

206,868

Inter-segment
sales
Total

2,743

5,964

1,727

946

11,382

5,363

16,745(16,745)-

146,927

19,721

20,431

18,895205,975

17,638

223,614(16,745)

206,868

Segment income

1,624

1,533

1,406

761

5,325

445

5,771

224

5,996

Fiscal 2021 1Q (April 1, 2020 through June 30, 2020)【Industry Segments】(Millions of yen)
Reportable Segments
CementBusiness

MineralResources
Business

Environmental
Business

Construction
Materials
Business

Total

Other

Total

Consolidated
Total

Adjustment

Net sales
Sales to outside
customers

142,99512,590

16,055

15,278

186,919

13,640200,560-

200,560

Inter-segment
sales
Total

2,421

5,617

1,761

1,055

10,856

5,039

15,895(15,895)-

145,417

18,20817,816

16,333

197,775

18,679216,455(15,895)

200,560

Segment income

3,499

1,079

1,182

305

6,067

954

7,021

2

7,023

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