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 Year Ended December 31, 2021
(Based on Japanese GAAP)
February 10, 2022
Company name:

EBARA JITSUGYO CO.,LTD.

Stock exchange listing: Tokyo
Stock code:
6328
Representative:
Inquiries:

URL

https://www.ejk.co.jp/President and COO
Managing Executive Officer, Head ofPlanning & Strategy OfficeScheduled date of ordinary general meeting of shareholders:Toshinori Yoshida
Shuji Ohno

TEL03-5565-2885

March 24, 2022

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

March 24, 2022
March 25, 2022

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

Yes
Yes

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended December 31, 2021 (from January 1, 2021 to December 31, 2021)(1) Consolidated operating results
Net salesYear ended December 31, 2021
Year ended December 31, 2020

Operating profit

Millions of yen
32,48530,250%
7.4
6.4

Millions of yen
3,982
3,214

Earnings per share

Diluted earnings pershare

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%
–
17.6
12.0
12.3
–
14.8
11.1
10.6

Yen
253.05
184.60Year ended December 31, 2021
Year ended December 31, 2020

%
23.9
58.8

Percentages indicate year-on-year changes
Profit attributable toOrdinary profit
owners of parent
Millions of yen% Millions of yen%
4,110
22.2
3,159
34.9
3,363
55.0
2,342
54.9

(2) Consolidated financial position
Total assets
As of December 31, 2021
As of December 31, 2020

Net assets

Equity ratio

Millions of yen
35,72532,509Millions of yen
19,152
16,703

Cash flows fromoperating activities
Millions of yen
3,147
4,073

Cash flows frominvesting activities
Millions of yen
108
1,037

Net assets per share%
53.6
51.4

Yen
1,566.10
1,328.99(3) Consolidated cash flows

Year ended December 31, 2021
Year ended December 31, 2020

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(1,681)
10,955(957)
9,381

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended December 31, 2020
Year ended December 31, 2021
Year ending December 31, 2022
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%%

––

30.00
75.00

––

80.00
47.50

110.00–

691
1,062

29.8
33.6

4.5
5.9

–

42.50

–

42.50

85.00

137.1

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

Millions of yen
35,000Percentages 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
7.7
3,800(4.6)
3,950(3.9)
2,800 (11.4)
228.95

4. Notes(1) Changes in significant subsidiaries during the year ended December 31, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:

No
No

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

NoNo(3) 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

13,430,000 shares As of December 31, 2020

13,430,000 shares

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

1,200,454 shares As of December 31, 2020

861,048 shares

Average number of shares during the period
Year ended December 31, 2021

12,486,436 shares Year ended December 31, 2020

212,689,704 shares

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of December 31, 2020

As of December 31, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

9,386
10,804

11,10010,447

Merchandise and finished goods
Work in process

660
224

863
281

Costs on construction contracts in progress
Raw materials and supplies

576
435

489
389

Other
Allowance for doubtful accounts

210
(1)

352
(1)

22,29623,921

3,194(1,847)

3,634(1,938)

Buildings and structures, net

1,346

1,696

Machinery, equipment and vehicles
Accumulated depreciation

194(137)

196
(147)

56

49

658
(573)

670
(581)

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation

8489

Land
Construction in progress

Tools, furniture and fixtures, net

1,356
13

1,356
–

Total property, plant and equipment

2,857

3,191

131

120

Investment securities
Insurance funds

5,715
687

7,166
408

Investment property, net
Deferred tax assets

666
13683
66

Other
Allowance for doubtful accounts

247
(106)

272
(105)

Total investments and other assets

7,224

8,491

10,213

11,80432,50935,725Intangible assets
Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of December 31, 2020

As of December 31, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Accrued consumption taxes
Advances received
Provision for loss on construction contracts
Other

9,946

9,829

1,090
–

1,090
80

788
261

818
334

1,411
152

1,369
78

628

746

14,27814,346

–
1,086

176
1,598

Provision for retirement benefits for directors (and otherofficers)

158

158

Retirement benefit liability
Other

195
86182
110

Total non-current liabilities

1,527

2,227

15,805

16,573

Shareholders' equity
Share capital

1,001

1,001

Capital surplus
Retained earnings

831
12,952

1,032
15,133

Treasury shares(862)(1,974)

13,923

15,192

2,811
(31)

3,944
15

Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities

Total liabilities
Net assets

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

42,7803,959

16,703

19,15232,50935,725

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
December 31, 2020

Fiscal year ended
December 31, 2021

Net sales
Net sales of finished goods and construction sales
Net sales of goods

24,747
5,503

27,351
5,134

Total net sales

30,25032,485

16,96318,094

Cost of sales
Cost of finished goods sold and construction sales
Cost of goods sold

4,276

3,901

Total cost of sales

21,24021,995Gross profit-finished goods and construction sales
Gross profit - merchandise

7,783
1,227

9,256
1,232

Total gross profit

9,010

10,489Selling, general and administrative expenses

5,795

6,507

Operating profit

3,214

3,982

Interest income
Dividend income

190

2103

Rental income from investment property
Other95
22

101
23

Total non-operating income

209230Gross profit

Non-operating income

Non-operating expenses
Interest expenses

66Rental expenses on real estate
Foreign exchange losses

409436

Loss on cancellation of insurance policies
Commission expenses

302119Other

05Total non-operating expenses

61102

3,363

4,110

Ordinary profit
Extraordinary income
Gain on sale of non-current assets

2–

Gain on sale of investment securities
Other–
0338
0Total extraordinary income

3338

Extraordinary losses
Impairment losses–

30

Loss on sale of investment securities
Loss on valuation of investment securities–2726–

Other–

02757

Profit before income taxes

Total extraordinary losses

3,339

4,392

Income taxes - current

1,050

1,294

Income taxes - deferred(53)(62)

Total income taxes

997

1,232

Profit

2,342

3,159

Profit attributable to owners of parent

2,342

3,159

5

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

December 31, 2020

December 31, 2021

2,342

3,159

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax

360
13

1,132
46

Total other comprehensive income

373

1,179

2,715

4,338

2,715

4,338

–

–

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended December 31, 2020
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,001

Retained earnings

831

10,996

Treasury shares(291)

Total shareholders'equity
12,538Changes during period
Dividends of surplus

(386)

(386)

Profit attributable to owners ofparent

2,342

2,342

Purchase of treasury shares

(571)

(571)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

––

1,956

(571)

1,385

1,001

831

12,952(862)

13,923

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

2,451

(44)

2,407

Total net assets

14,945

Changes during period
Dividends of surplus(386)

Profit attributable to owners ofparent

2,342

Purchase of treasury shares(571)

Net changes in items otherthan shareholders' equity

360

13373

373

Total changes during period

360

13373

1,758

2,811

(31)

2,780

16,703

Balance at end of period7

Fiscal year ended December 31, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

1,001

Retained earnings

831

12,952

Treasury shares(862)

Total shareholders'equity13,923

Changes during period
Dividends of surplus

(979)

(979)

Profit attributable to owners ofparent

3,159

3,159

Purchase of treasury shares
Disposal of treasury shares201(1,287)(1,287)175

377

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–

201

2,180

(1,112)

1,269

1,001

1,032

15,133(1,974)

15,192

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

2,811

(31)

2,780

Total net assets

16,703Changes during period
Dividends of surplus(979)

Profit attributable to owners ofparent

3,159

Purchase of treasury shares(1,287)

Disposal of treasury shares

377

Net changes in items otherthan shareholders' equity

1,132

46

1,179

1,179

Total changes during period

1,132

46

1,179

2,448

Balance at end of period

3,944

15

3,959

19,1528

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

December 31, 2020

December 31, 2021

3,339

4,392Depreciation
Impairment losses

205–

207
30

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on construction

(0)

(0)

39(73)

60

53

Interest and dividend income
Interest expenses(91)
6(105)
6Insurance claim income
Loss (gain) on cancellation of insurance policies

(10)
3–
17

Loss (gain) on sale of property, plant and equipment
Loss (gain) on sale of investment securities(2)––(323)

Loss (gain) on valuation of investment securities
Decrease (increase) in trade receivables

27(636)–357

Decrease (increase) in inventories
Increase (decrease) in trade payables(300)
1,548(127)(117)

Increase (decrease) in advances received
Decrease/increase in consumption taxes receivable/payable354
124(42)
72

Other, net

(28)

43

Subtotalcontracts
Increase (decrease) in retirement benefit liability

4,638

4,390

Interest and dividends received

91

104

Proceeds from insurance income
Interest paid

10(6)

–(6)

Income taxes paid(660)(1,341)

Net cash provided by (used in) operating activities

4,073

3,147

Net decrease (increase) in forced deposits
Purchase of property, plant and equipment

1,175(83)

(136)
(446)

Purchase of intangible assets
Purchase of investment securities

(7)
(138)

(30)
(132)

Proceeds from sale and redemption of investment securities
Proceeds from cancellation of insurance funds

055

626
298

Proceeds from collection of loans receivable
Other, net

30510(80)

1,037

108

Cash flows from financing activities
Proceeds from long-term borrowings–

300

Repayments of long-term borrowings
Dividends paid–
(386)

(43)
(978)

Purchase of treasury shares
Proceeds from disposal of treasury shares(571)–(1,011)51

Net cash provided by (used in) financing activities(957)(1,681)

Net increase (decrease) in cash and cash equivalents

4,153

1,574

Cash and cash equivalents at beginning of period

5,227

9,381

Cash and cash equivalents at end of period

9,381

10,955

Cash flows from investing activities

Net cash provided by (used in) investing activities

9