Member of Financial Accounting Standards Foundation

Financial Report for Fiscal Year ended March 31, 2022 [Japanese GAAP] (Consolidated)
May 13, 2022
Company name: Unitika Ltd.
Listed stock exchange: Tokyo Stock Exchange
Code number: 3103 URL: https://www.unitika.co.jp/e/home.htm
Representative: Shuji Ueno, President and Chief Executive Officer
Contact: Masumi Fujimoto, General Manager of Accounting Department
TEL: +81-6-6281-5721
Expected date for holding a regular shareholders meeting: June 29, 2022
Expected date for submitting securities report: June 29, 2022
Expected commencement date for paying dividend: –Preparation of the attachment of Financial Report: Yes
Holding of a results presentation: Yes (for securities analysts and institutional investors)(Figures rounded down to nearest million yen.)

1. Consolidated performance for fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Consolidated business results(Percentages represent changes from same period in previous year.)Net sales

Operating profit

Millions of yen

FY ended March 31, 2022
FY ended March 31, 2021
(Note) Comprehensive income% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen% Millions of yen

114,713
6,005
(0.2)
6,399
18.9
⎯
110,375
(7.7)
6,018
10.1
5,381
70.6
FY ended March 31, 2022: 3,027 million yen [ (20.6%)]
FY ended March 31, 2021: 3,811 million yen [ ⎯%]Diluted profit per
Profit per share
Return on equity
Return on asset
share
Yen

FY ended March 31, 2022
33.32
FY ended March 31, 2021
61.44
(Reference) Equity in earnings/losses of affiliates

Yen

%

17.88
5.5
30.85
10.3
FY ended March 31, 2022: 20 million yen
FY ended March 31, 2021: (0) million yen

2,223
3,864

%

(42.5)⎯

Ratio of operating
profit to sales
%

%

3.4
2.8

5.2
5.5

(Note) The “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan (ASBJ) Statement No. 29, March 31, 2020), etc.
have been applied from the beginning of the consolidated fiscal year ended March 31, 2022. Accordingly, net sales for the consolidated fiscal year
ended March 31, 2022 show the amount after the above-mentioned accounting standard, etc. have been applied, and the year-on-year percentage change
in net sales for the consolidated fiscal year ended March 31, 2022 has been omitted from the table above.

(2) Consolidated financial situation
Total assets

Net assets

Millions of yen

Capital adequacy ratio

Net assets per share

Millions of yen%

Yen

FY ended March 31, 2022
191,399
43,071
FY ended March 31, 2021
190,403
41,192(Reference) Shareholders’ equity: FY ended March 31, 2022: 41,296 million yen
FY ended March 31, 2021: 39,476 million yen

21.6
20.7

303.57257.67(3) Consolidated cash flows situation
Cash flows fromoperating activities
FY ended March 31, 2022
FY ended March 31, 2021

Cash flows frominvesting activities

Balance of cash andcash equivalents atperiod end

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

8,666
14,869(8,989)(6,171)(4,212)(4,141)

18,415
22,593

2. Dividend payment
Annual dividend per share
End of Q1Yen

FY ended March 31, 2021
FY ended March 31, 2022
FY ending March 31, 2023
(forecast)End of Q2

End of Q3

Yen

Yen

⎯
⎯

0.00
0.00

⎯

0.00

Year end

Total

Annualdividends paid
(Total)Dividend
payout ratio(consolidated)

Dividend ratioof net assets(consolidated)

%

%

Yen

Yen

Millions of yen

⎯
⎯

0.00
0.00

0.00
0.00

⎯
⎯

⎯

0.00

0.00

⎯
⎯

⎯
⎯

⎯

(Note) The abovementioned Dividend payment refers to dividends paid to the holders of common stock. For details of dividend payment to the holdersof class shares (unlisted), the rights of which are different from those of common stock, please refer to Dividend payment to the holders of classshares mentioned below.

3. Forecast of consolidated performance for fiscal year ending March 31, 2023 (April 1, 2022 to March
31, 2023)(Percentages represent changes from same period in previous year.)Net sales

Operating profit

Millions of yen% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen

1st half of FY ending March
31, 2023 (cumulative)

60,0008.1

2,100 (38.1)

FY ending March 31, 2023

126,000

9.8

5,500

(8.4)

Profit per
share

%

Millions of yen

%

Yen

1,500

(48.7)

700(68.4)

9.51

3,300

(48.4)

1,500(32.5)

20.77* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying change ofscope of consolidation): No
New companies: — (company name)
Excluded companies: — (company name)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement(i) Changes in accounting policies due to revisions of accounting standards: Yes(ii) Changes of accounting policies other than the above: No(iii) Changes in accounting estimates: No(iv) Retrospective restatement: No(Note) For details, please refer to “3. Consolidated Financial Statements and Major Notes to Consolidated Financial Statements(5) Notes on consolidated financial statements (Changes in accounting policies)” on page 12 of the attachment.

(3) Number of shares outstanding (Common stock)(i) Number of shares outstanding at end of term (including treasury share):Fiscal year ended March 31, 2022: 57,752,343 sharesFiscal year ended March 31, 2021: 57,752,343 shares(ii) Number of treasury shares at end of term
Fiscal year ended March 31, 2022: 95,761 sharesFiscal year ended March 31, 2021: 95,236 shares(iii) Average number of shares outstanding during the term
Fiscal year ended March 31, 2022: 57,656,863 sharesFiscal year ended March 31, 2021: 57,657,660 shares(Reference) Summary of non-consolidated performanceNon-consolidated performance for fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Non-consolidated business results(Percentages represent changes from same period in previous year.)Net sales
FY ended March 31, 2022
FY ended March 31, 2021

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

77,48369,978

⎯
(8.1)

5,790
5,504

5.2
7.2

6,271
5,189

20.9
61.0

1,607
3,265

(50.8)⎯

Profit per share

Diluted profit per share
Yen

Yen

FY ended March 31, 2022
22.64
12.93
FY ended March 31, 2021
51.07
26.07
(Note) The “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan (ASBJ) Statement No. 29, March
31, 2020), etc. have been applied from the beginning of the fiscal year ended March 31, 2022. Accordingly, net sales for the
fiscal year ended March 31, 2022 show the amount after the above-mentioned accounting standard, etc. have been applied, andthe year-on-year percentage change in net sales for the fiscal year ended March 31, 2022 has been omitted from the table above.

(2) Non-consolidated financial situation
Total assets
Millions of yen

Net assets

Capital adequacy ratio

Net assets per share

Millions of yen%

Yen

FY ended March 31, 2022
172,788
40,485
FY ended March 31, 2021
174,351
40,088(Reference) Shareholders’ equity: FY ended March 31, 2022: 40,485 million yen
FY ended March 31, 2021: 40,088 million yen

23.4
23.0

289.51
268.28* The financial report is not subject to audit procedures by a certified public accountant or an independent
auditor.
* Explanation on appropriate use of forecasts of performance and other special items(Note on forward-looking statements)
The forward-looking statements in this document concerning forecasting of performance, etc. are based on currently available
information and assumptions considered by the Company to be reasonable. Such statements are neither promises nor guarantees of
future performance. The actual performance may be significantly different from forecasts due to various factors. Concerning
assumptions used as a basis for forecasting business performance and precautionary statements when using the forecast of performance,
please refer to 1. Overview of Business Performance (4) Future forecast on page 4 of the attachment.
(Method to obtain information on the presentation of financial results)
The Company plans to hold a results presentation conference call for securities analysts and institutional investors on Wednesday, May 25, 2022. It
plans to post on its website supplementary documents to the financial results to be distributed at the results presentation.

Dividend payment to the holders of class shares
The breakdown of dividends per share related to class shares, the rights of which are different from those of common
stock, is as follows:
Annual dividends
End of Q1
Yen

Class A share
FY ended March 31, 2021
FY ended March 31, 2022——

FY ending March 31, 2023 (forecast)—Yen

End of Q2

End of Q3

Yen

Yen

0.00
0.00

—
—

0.00

—

Yen

Class B share
FY ended March 31, 2021
FY ended March 31, 2022

—
—

0.00
0.00

FY ending March 31, 2023 (forecast)

—

0.00

Yen

Year end

Total

Yen

Yen

12,000.00
12,000.00

12,000.00
12,000.00

12,000.00

12,000.00

Yen

Yen

—
—

23,740.00
23,740.00

23,740.00
23,740.00—

23,740.00

23,740.00

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

 Table of contents for the attachment
1. Overview of Business Performance ......................................................................................................................... 2(1) Overview of business performance of the year ................................................................................................... 2(2) Overview of financial position............................................................................................................................ 3(3) Overview of cash-flow........................................................................................................................................ 3(4) Future forecast .................................................................................................................................................... 4(5) Basic policy for profit distribution and dividends for the fiscal year ended March 31, 2022 and the fiscal year
ending March 31, 2023 ....................................................................................................................................... 4
2. Basic Approach to the Selection of Accounting Standards ...................................................................................... 4
3. Consolidated Financial Statements and Major Notes to Consolidated Financial Statements................................... 5(1) Consolidated balance sheets ............................................................................................................................... 5(2) Consolidated income statement and consolidated comprehensive income statement ........................................ 7(Consolidated income statement) ........................................................................................................................ 7(Consolidated comprehensive income statement) ............................................................................................... 8(3) Consolidated statements of changes in net assets ............................................................................................... 9(4) Consolidated statements of cash flow ............................................................................................................... 11(5) Notes on consolidated financial statements ...................................................................................................... 12(Notes on going concern assumption) ............................................................................................................... 12(Notes on significant changes in the amount of shareholders’ equity) ............................................................. 12(Changes in accounting policies) ...................................................................................................................... 12(Segment information, etc.)............................................................................................................................... 13(Per share information) ..................................................................................................................................... 15(Material subsequent events)............................................................................................................................. 15
4. Supplementary Materials ........................................................................................................................................ 16
4. Supplemental Materials .......................................................................................................................................... 16- 1 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

1. Overview of Business Performance(1) Overview of business performance of the year
The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. have been
applied from the current consolidated fiscal year under review (April 1, 2021 to March 31, 2022). Accordingly, theCompany’s accounting method for revenue recognition for the current consolidated fiscal year ended March 31, 2022
differed from that for the previous consolidated fiscal year ended March 31, 2021. Thereby, in the explanation on
operational results for the current consolidated fiscal year ended March 31, 2022, the Company explained net sales
without describing the year-on-year amount and percentage changes.
During the consolidated fiscal year under review (April 1, 2021 to March 31, 2022), the Japanese economy
intermittently suffered from the impact of the spread of the new coronavirus pandemic (hereinafter “COVID-19”).
The economic recovery was on track, supported by the government’s measures to prevent the expansion of theinfection throughout the period. However, the epidemic of COVID-19 variants restrained corporate production
activity and consumer spending, stagnating the recovery. On the other hand, escalating raw material prices,
distribution costs, and energy costs depressed corporate earnings. Furthermore, Russia’s invasion of Ukraine in 2022
casted a shadow over the supply of energy and logistics. In addition, the further depreciation of the yen at the end of
the current fiscal year made the outlook for the economy more uncertain.
Under these circumstances, the Unitika Group has been endeavoring to realize the building of strong businessportfolios, promotion of global business development, and a change in business culture and mind-set—the Group’s
basic policies that place the strengthening of the foundation for a growth phase as the highest priority under “GSTEP30, the 1st,” a medium-term management plan that is in the second year.
Consequently, in the consolidated fiscal year under review, the Group reported net sales of 114,713 million yen(versus net sales of 110,375 million yen in the previous year), operating profit of 6,005 million yen (down 0.2% year
on year), and ordinary profit of 6,399 million yen (up 18.9% year on year). Furthermore, profit attributable to ownersof parent amounted to 2,223 million yen (down 42.5% year on year) due to the posting of impairment loss of 2,169
million yen for business assets of THAI UNITIKA SPUNBOND CO., LTD. (“TUSCO”), a consolidated subsidiary,
and the Industrial Materials Division. The application of the Accounting Standard for Revenue Recognition, etc.
caused net sales to decrease by 3,088 million yen.
Here is an overview of the business results by segment.
[Polymers Segment]
The Polymers Segment suffered negative impacts of soaring raw material and fuel prices. However, the segment saw
demand recover and sales grow steadily in the current fiscal year under review.
In the Films business, the packaging sector saw sales grow throughout the period due to the taking root of “a newlifestyle” amid the COVID-19 pandemic. Furthermore, sales of high-value-added products, such as “EMBLEM-HG,”
a barrier nylon film, and environmentally friendly food package films, increased steadily. In the industrial sector,
sales were robust, mainly in electric and electronic applications, while sales of high-value-added products, such as“UNIPEEL,” a silicon-free release PET film, increased steadily. On the other hand, overseas subsidiaries significantly
suffered negative impacts of sea transportation bottlenecks and a succeeding sharp rise in transportation costs.
Accordingly, the Films business saw net sales increase but profit decrease.
In the Plastics business, demand recovered in a wide range of applications, but the recovery in demand for automotive
applications slowed down due to a decrease in the number of automobiles manufactured caused by the suspension ofoperations in factories in Japan and overseas. Sales of nylon resins and “U-Polymer,” a polyarylate resin, recovered,supported by the rebound of demand for electrical and electronics applications. Sales of “XecoT,” a high-heat-resistantaromatic polyamide resin, grew steadily since the resin was newly adopted in automotive applications and electricand electronic applications. Sales of raw materials for other functional resins were also strong. Accordingly, thePlastics business saw net sales and profit grow.
Consequently, the Polymers segment reported a rise in net sales and operating profit. Specifically, the segment posted
operating profit of 6,645 million yen (up 17.0% year on year) on net sales of 50,837 million yen (versus net sales of
41,436 million yen in the previous year). The application of the Accounting Standard for Revenue Recognition, etc.
caused net sales to increase by 3,224 million yen.
[Performance Materials Segment]
The Performance Materials Segment saw sales as a whole grow since demand for construction and civil engineering
applications recovered in the latter half of the current fiscal year. However, the segment suffered the negative impactof a sharp rise in raw material and fuel prices and turmoil in the ocean freight network.
In the Activated Carbon Fibers business, demand for mainstay water purifier applications rebounded. In addition, theacquisition of new customers overseas contributed to the growth in sales. The business had tough times since it
suffered the negative impact of production reduction due to the shortage of supply of semiconductors for automobile
applications and electronics-industry-related applications.
In the Glass Fibers business, in the industrial materials sector, sales for building and civil engineering applications,such as tents and sheets, picked up due to a recovery of capital expenditure in the private sector. In the electronicmaterials sector, sales of IC cloth remained robust, supported by brisk demand for semiconductors, which were in
short supply. Furthermore, sales of high-value-added products, including super-thin products and materials with low- 2 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

thermal expansion, grew steadily.
In the Glass Beads business, sales for road applications remained flat from the previous year because of a slow
recovery of demand. Sales for reflective material applications grew overseas. Sales for industrial applications werealso steady in blasting applications.
In the Non-woven Fabrics business, demand stabilized for daily product applications, such as medical gowns, and forsanitary material applications, such as disinfectant sheets, which increased sharply in the previous year. Sales for skincare applications continued to be sluggish due to the impact of restraint on the flow of people. Sales for generalindustrial materials and building and civil engineering applications moderately recovered from the decline in sales
due to the impact of the COVID-19 pandemic in the previous year. However, sales for automotive applications
decreased due to the impact of the semiconductor supply shortage.
TUSCO, a subsidiary in Thailand, saw profitability deteriorate, principally in exports to outside Asia, due to chaos in
ocean shipping supply chains and a rise in transportation cost.
In the Industrial fibers business, demand for polyester staple fibers recovered in each application. Sales of ultra-highstrength polyester filament yarns increased, supported by a recovery of demand for building and civil engineering
applications. However, their profitability suffered from soaring raw material and fuel prices. Furthermore, among
high-value-added products, hollow-fiber membrane materials sold steadily.
Consequently, the Performance Materials segment reported a rise in net sales and a fall in operating profit. Specifically,
the segment posted operating profit of 24 million yen (down 96.9% year on year) on net sales of 34,372 million yen(versus net sales of 29,628 million yen in the previous year). The application of the Accounting Standard for Revenue
Recognition, etc. caused net sales to increase by 2,316 million yen.
[Fibers and Textiles Segment]
In the Garments, Lifestyle Materials and Bedding business, sales decreased from the previous year since demand for
medical gowns, whose orders grew in the previous year, leveled off. Demand for uniforms and women’s clothing
gradually picked up, resulting in the growth of sales. However, the business was faced with a difficult situation where
production costs sharply rose due to the impact of soaring raw materials and fuel prices and logistics costs as well as
the yen’s depreciation, etc.
Consequently, the Fibers & Textiles segment reported a fall in net sales and operating profit. Specifically, the segment
posted an operating loss of 610 million yen (versus an operating loss of 368 million yen in the previous year) on net
sales of 29,446 million yen (versus net sales of 39,278 million yen in the previous year). The application of the
Accounting Standard for Revenue Recognition, etc. caused net sales to decrease by 8,629 million yen.

[Others]
The Others category posted an operating loss of 55 million yen (versus an operating loss of 78 million yen in theprevious year) on net sales of 58 million yen (versus net sales of 31 million yen in the previous year). The applicationof the Accounting Standard for Revenue Recognition, etc. didn’t have impact on net sales.
(2) Overview of financial position
Total assets increased by 995 million yen from the end of the previous consolidated year to 191,399 million yen
mainly due to a rise in inventories and property, plant and equipment despite a decrease in cash and deposits.
Liabilities fell by 883 million yen from the end of the previous consolidated year to 148,328 million yen. This wasprimarily due to a decline in interest-bearing debt despite a rise in notes and accounts payable-trade. Net assets
increased by 1,878 million yen from the end of the previous consolidated year to 43,071 million yen. This was mainly
due to a rise in retained earnings caused by the posting of profit attributable to owners of parent despite a decrease incapital surplus due to the acquisition and cancellation of Class B shares.
(3) Overview of cash-flow
Cash and cash equivalents (hereinafter referred to as “net cash”) as of March 31, 2022 decreased by 4,177 million yen
from the end of the previous consolidated year to 18,415 million yen.
(Net cash provided by [used in] operating activities)
Net cash provided by operating activities amounted to 8,666 million yen during the current consolidated fiscal year
(down 41.7% year on year) mainly due to the posting of profit before income taxes and increase in trade payables
despite a rise in inventories.
(Net cash provided by [used in] investing activities)
Net cash used in investing activities amounted to 8,989 million yen during the current consolidated fiscal year
(6,171 million yen used in the previous consolidated fiscal year) due to the posting of expenses related to capital
expenditures.
(Net cash provided by [used in] financing activities)
Net cash used in financing activities amounted to 4,212 million yen during the current consolidated fiscal year
(4,141 million yen used in the previous consolidated fiscal year) due to the repayments of borrowings and theacquisition and cancellation of Class B shares.
- 3 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(Reference) Changes in cash flow-related indicators
Year ended
March 31, 2022(i)

Shareholders’ equity ratio (%)(ii) Shareholders’ equity ratio on
market value basis (%)(iii) Ratio of interest-bearing debt tocash flow

Year ended
March 31, 2021

Year ended
March 31, 2020

21.6

20.7

18.3

8.8

12.4

8.0

11.2

6.7

10.5

7.6

13.3

8.3

(iv) Interest coverage ratio(Notes) Shareholders’ equity ratio: Shareholders’ equity/Total assets
Shareholders’ equity ratio on market value basis: Market capitalization/Total assets
Ratio of interest-bearing debt to cash flow: Interest-bearing debt/Cash flow
Interest coverage ratio: Cash flow/Interest expense*1. Each indicator is calculated based on consolidated financial results.
*2. Cash flow is net cash provided by operating activities.
*3. Interest-bearing debt includes all liabilities, reported on the consolidated balance sheet, on which interest is
paid.

(4) Future forecast
The Unitika Group will continue to implement “G-STEP30,” a long-term vision for the Group that lays out the desired
image of the Group around 2030, and “G-STEP30, the 1st,” a three-year medium-term management plan, under which
the Group aims to realize the building of strong business portfolios, promotion of global business development, and achange in business culture and mind-set—the Group’s basic policies that place the strengthening of the foundation fora growth phase as the highest priority.
Recently, raw material and fuel prices have surged, the yen’s value has decreased, and geopolitical risk, centering on
Ukraine, has risen, while business activity is expected to recover gradually along with the relaxation of measures tocombat COVID-19. Although the outlook of business is still uncertain, the Group is determined to steadily implement
each measure stated in its medium-term management plan and to continuously work hard to prepare a business basefor “growth.”
The Unitika Group forecasts that it will post net sales of 126,000 million yen, operating profit of 5,500 million yen,ordinary profit of 3,300 million yen, and profit attributable to owners of parent of 1,500 million yen in the year ending
March 31, 2023.
(5) Basic policy for profit distribution and dividends for the fiscal year ended March 31, 2022 and the fiscal year
ending March 31, 2023
The Unitika Group considers profit distribution to its shareholders to be an important aspect of its business, but
management intends to pass dividends on common stock for the fiscal year ended March 31, 2022, giving due
consideration to the business results and financial situation at the end of the fiscal year.
For the future, Unitika’s basic dividend policy is to conduct profit distribution to shareholders as appropriate to theCompany’s financial results. At the same time, the Company intends to decide dividend payment after considering theimprovement of its financial position and enhancing of internal reserve for securing profit for shareholders from a longterm perspective.
Regarding dividends for the classified stock issued through third party allocations in July 2014, the Company plans toprovide the following dividends based on the classified stock issuance guidelines determined at the time of issuance:
12,000 yen per class A share and 23,740 yen per class B share.
2. Basic Approach to the Selection of Accounting Standards
The Unitika Group adopts Japanese Accounting Standards (Japanese GAAP), since the Group intends to ensure thecomparability of performance with competitors in Japan.

- 4 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

3. Consolidated Financial Statements and Major Notes to Consolidated Financial Statements(1) Consolidated balance sheets(Unit: Millions of yen)Previous consolidated
fiscal year
(March 31, 2021)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Notes receivable-trade
Accounts receivable-trade
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net
Land
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Investments in capital
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 5 -Current consolidated
fiscal year
(March 31, 2022)

23,37029,182——
26,033
2,595(91)
81,08818,985—
6,148
23,34629,3983,134(87)
80,926

10,492
20,1081,009
62,647146
8,607
103,010

12,573
19,2691,038
62,58471
8,590
104,128

1,991
1,991

2,238
2,238

2,498
7
271
27
219
1,353
(65)
4,312
109,314
190,403

2,462
7
181
28
238
1,292
(104)
4,106
110,472
191,399

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(Unit: Millions of yen)Previous consolidated
fiscal year
(March 31, 2021)

Current consolidated
fiscal year
(March 31, 2022)

Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Contract liabilities
Provision for bonuses
A product repair reserve fund
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

13,606
2,130
2,664
153
923
—
1,770
40
10,056
31,346

16,4502,065
91,647
74
598
321
1,742
35
8,832
121,768

92,002
224
7,884
3,169
14,324
258
117,864
149,211

177
373
8,027
3,169
14,628182
26,559148,328100
13,126
25,695(57)
38,865100
12,301
27,597(57)
39,942

480
16
6,313
(4,374)(1,823)

435
(1)
6,313
(4,184)(1,208)

Total accumulated other comprehensive income

611

1,354

1,715
41,192
190,403

1,774
43,071
191,399

Non-controlling interests
Total net assets
Total liabilities and net assets- 6 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(2) Consolidated income statement and consolidated comprehensive income statement(Consolidated income statement)(Unit: Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Rental income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Insurance claim income
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Impairment loss
Loss on disposal of non-current assets
Loss on tax purpose reduction entry of non-current assets
Other
Total extraordinary losses
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent- 7 -Previous consolidated
fiscal year
(April 1, 2020 toMarch 31, 2021)
110,375
83,22027,154
21,136
6,018

Current consolidated
fiscal year
(April 1, 2021 toMarch 31, 2022)
114,71386,85827,85521,850
6,005

36
76
—
139
81
357
294
985

42
60
20
1,420
77
143
175
1,940

1,167
0
453
1,622
5,381

1,104
—
441
1,546
6,399

198
734
3,676
4,610

96
—
556
653

386
3,397
817
199
520
5,321
4,669
1,212
(411)
800
3,869
5
3,864

—
2,169
1,056
398
41
3,667
3,385
1,030
156
1,187
2,198
(25)
2,223

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(Consolidated comprehensive income statement)(Unit: Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans,
net of tax
Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners ofparentComprehensive income attributable tonon-controlling interests

Previous consolidated
fiscal year
(April 1, 2020 toMarch 31, 2021)
3,869

Current consolidated
fiscal year
(April 1, 2021 toMarch 31, 2022)
2,198

118

(44)

30
(965)

(17)
276

757

615

(58)
3,811

828
3,027

3,914

2,966

(103)

60

- 8 -

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(3) Consolidated statements of changes in net assets
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)(Unit: Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus
100

Retained earnings

13,218

Total shareholders’equityTreasury shares

21,559(56)

34,821

Changes in items during period
Dividends of surplus

(321)

(321)

Profit attributable to owners of parent

3,864

3,864

Purchase of treasury shares

(0)

(0)

Cancellation of treasury shares
Change in ownership interest of parent due
to transactions with non-controllinginterests

(91)

(91)

Reversal of revaluation reserve for land

592

592

Net changes in items other thanshareholders’ equity
Total changes in items during period

—

(91)

4,135

(0)

4,043

Balance at end of period

100

13,126

25,695(57)

38,865

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred
gains orlosses onhedges

Revaluation
reserve for
land

361

(11)

6,412

Total
NonForeign
Reaccumulated
controllingcurrency measurements
otherof definedinterests
translation
comprehenadjustment benefit plans
sive income(3,521)(2,581)

660

3,451

Total net
assets38,933

Changes in items during period
Dividends of surplus(321)

Profit attributable to owners of parent

3,864

Purchase of treasury shares(0)Cancellation of treasury shares
Change in ownership interest of parent due
to transactions with non-controllinginterests(91)

Reversal of revaluation reserve for land592

Net changes in items other thanshareholders’ equity

118

27

(98)

(853)

757

(48)

(1,736)(1,784)

Total changes in items during period

118

27

(98)

(853)

757

(48)

(1,736)2,258

Balance at end of period

480

16

6,313

(4,374)(1,823)

611

1,715

41,192- 9 -Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)(Unit: Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus
100

Retained earnings

13,126

Total shareholders’equityTreasury shares

25,695(57)

38,865

Changes in items during period
Dividends of surplus

(321)

(321)

Profit attributable to owners ofparent

2,223

2,223

Purchase of treasury shares
Cancellation of treasury shares(826)

Change in ownership interest ofparent due to transactions with noncontrolling interests

(826)

(826)

826

—

1

1

Reversal of revaluation reserve for
land

(0)

(0)

Net changes in items other thanshareholders’ equity
Total changes in items during
Period

—

(824)

1,901

(0)

1,076

Balance at end of period

100

12,301

27,597(57)

39,942

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Deferred
gains orlosses onhedges

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit plans

Total
accumulated
othercomprehensive income

Noncontrollinginterests

Total net
assets

480

16

6,313

(4,374)(1,823)

611

1,715

41,192

Changes in items during period
Dividends of surplus(321)

Profit attributable to owners ofparent2,223

Purchase of treasury shares(826)

Cancellation of treasury shares—

Change in ownership interest ofparent due to transactions with noncontrolling interests

1

Reversal of revaluation reserve for
land

(0)

Net changes in items other thanshareholders’ equity

(44)

(17)

0

189

615

742

59

801

Total changes in items during
Period

(44)

(17)

0

189

615

742

59

1,878

Balance at end of period

435

(1)

6,313

(4,184)(1,208)

1,354

1,774

43,071- 10 -

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(4) Consolidated statements of cash flow
(Unit: Millions of yen)Previous consolidated
fiscal year
(April 1, 2020 toMarch 31, 2021)
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Loss on tax purpose reduction entry of non-current assets
Business restructuring expenses
Loss on litigation
Insurance claim income
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for product repair
Increase (decrease) in other provisions
Interest expenses
Loss (gain) on disposal of non-current assets
Loss (gain) on sales of non-current assets
Loss (gain) on sales of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Proceeds from insurance income
Payments for loss on litigation
Net cash provided by (used in) operating activities
Cash flows from investing activities
Decrease (increase) in time deposits
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for retirement of property, plant and equipment
Proceeds from sales of shares of subsidiaries resulting in change in scopeof consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Purchase of shares of subsidiaries not resulting in change in scope of
consolidation
Purchase of treasury shares (class stock)
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 11 -

4,669
4,990
3,397
199
383
70
(3,676)
25
766
(1)
64
1,167
817
188
(734)
1,622
3,355
(1,266)(1,214)
14,825114(1,118)(389)
4,075(2,636)
14,869Current consolidated
fiscal year
(April 1, 2021 toMarch 31, 2022)
3,385
5,246
2,169
398

—
—
(556)
34
884
(4)
(29)
1,104
1,056
(96)

—
(144)
(3,176)
2,581(1,981)
10,873102(1,146)(1,320)
157

—
8,666

(110)
(11)
1,036
(6,708)
596
(589)

285
(10)
2
(8,105)
248
(687)

197

—

(582)
(6,171)(723)(8,989)133
110(2,667)
(321)

(99)
20
(2,861)(321)(1,230)

—

—

(826)
(122)
(4,212)357(4,177)22,593
18,415(165)(4,141)(156)
4,399
18,194
22,593

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(5) Notes on consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Notes on significant changes in the amount of shareholders’ equity)
Unitika, Ltd. received from Mizuho Bank, Ltd., who is an owner of its Class B shares (1,615 shares), a notice requesting
the Company to acquire part of its Class B shares they hold (808 shares) in exchange for money based on the regulation
as defined in Article 13-3, Paragraph 5 of its Articles of Incorporation (Right to Request Acquisition in Exchange forMoney). The Company completed the payment of money and acquisition of the subject Class B shares based on theacquisition request on March 15, 2022.
Furthermore, the Company resolved to cancel Class B shares it acquired in accordance with Article 178 of theCompanies Act at a meeting of Board of Directors held on March 28, 2022 and completed the cancellation of the shareson the same day.
(1) Details of Class B shares acquired
a. Type of shares acquired: Class B sharesb. Seller of the shares (shareholder): Mizuho Bank, Ltd.
c. Total number of shares acquired: 808 sharesd. Acquisition value: 1,022,699.3 yen per share(Note) The above acquisition value is calculated by adding the sum of daily portions of accrued preferred dividend
per share (22,699.3 yen) to the amount to be paid per Class B share (1,000,000 yen).
e. Total amount of acquisition: 826,341,034 yen
f. Acquisition date: March 15, 2022
(2) Details of Class B shares cancelled
a. Type of shares cancelled: Class B sharesb. Total number of shares cancelled: 808 sharesc. Effective date of cancellation: March 28, 2022
(3) Impact on net assets after cancellation of shares
Amount of capital surplus decreased: 826,341,034 yen(Changes in accounting policies)(Application of Accounting Standard for Revenue Recognition, etc.)
The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020; hereinafter “Revenue
Recognition Standard”), etc. have been applied from the beginning of the consolidated fiscal year ended March 31,
2022. The Company recognizes revenue in the amount that it expects to receive in exchange for promised goods orservices at a point in time when the control of the goods or services is transferred to customers.
Thereby, if the Company’s performance obligation is to arrange for the provision of goods or services promised tocustomers by another party, the Company, as an agent, recognizes revenue on a net basis.
Consequently, net sales and cost of sales for the consolidated fiscal year ended March 31, 2022 each decreased by
3,088 million yen.
The Revenue Recognition Standard, etc. were applied in accordance with the transitional treatment set forth in theproviso of Paragraph 84 of the Revenue Recognition Standard. However, these changes had no impact on the balanceof retained earnings at the beginning of the consolidated fiscal year ended March 31, 2022.
Furthermore, from the consolidated fiscal year ended March 31, 2022, “Notes and accounts receivable-trade” in“Current assets” on the consolidated balance sheets for the previous consolidated fiscal year were stated as “Notes
receivable-trade,” “Accounts receivable-trade, and “Contract assets,” and “Other” in “Current liabilities” on the
consolidated balance sheets for the previous consolidated fiscal year were stated as “Contract liabilities” and “Other.”
However, according to the transitional treatment set forth in Paragraph 89-2 of the Revenue Recognition Standard,
comparative information for the previous consolidated fiscal year was not reclassified by the new method ofpresentation.
(Application of Accounting Standard for Fair Value Measurement, etc.)
The “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4, 2019; hereinafter “Fair
Value Measurement Standard”), etc. have been applied from the beginning of the consolidated fiscal year ended March
31, 2022. In accordance with the transitional treatment prescribed in Paragraph 19 of the Fair Value Measurement
Standard and Paragraph 44-2 of the “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4,2019), the Company has decided to apply the new accounting policies set forth by the Fair Value Measurement Standard,
etc. into the future. These changes had no impact on the consolidated financial statements.

- 12 -

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(Segment information, etc.)
Segment Information
1. Summary of reportable segment
Unitika’s reportable segments are components of the Company for which separate financial information isavailable. These segments are subject to regular reviews by the Board of Directors to decide the distribution ofmanagerial resources and evaluate business results.
The Company sets up divisions by product and service in its head office. Each division formulates comprehensive
domestic and overseas strategies for its products and services and conducts business activities according to thestrategies.
Unitika consists of segments by product and service based on divisions. The following three are its reportablesegments: Polymers, Performance Materials, and Fibers & Textiles.
The Polymers segment manufactures and markets films and resins. The Performance Materials segment makes
and sells glass fibers, non-woven fabrics, and so on. The Fibers & Textiles segment produces and distributes
various types of fibers (threads, cotton, textiles, fabrics and the like).

2. Methods to calculate the amount of net sales, profit or loss, assets and other items by reportable segment
Methods of accounting treatment of reported business segments are pursuant to accounting policies adopted for
preparation of consolidated financial statements.
Inter-segment earnings and transfers are based on prevailing market prices.
(Application of Accounting Standard for Revenue Recognition, etc.)
As stated in (Changes in accounting policies), the Revenue Recognition Standard, etc. have been applied fromthe beginning of the consolidated fiscal year ended March 31, 2022, and the method of accounting treatment
related to revenue recognition has been changed.
Consequently, net sales of the Polymers segment and Performance Materials segment increased by 3,224
million yen and 2,316 million yen compared to those under the previous method, respectively, while net salesof the Fibers & Textiles segment decreased by 8,629 million yen.

3. Information on the amount of net sales, profit or loss, assets and other items by reportable segment
Previous consolidated fiscal year (April 1, 2020 to March 31, 2021)
Reportable segment

Performance Fibers &Polymers
Materials
Textiles

Other(Note 1)
Total

Total

(Unit: Millions of yen)Amountposted inConsoliAdjustment
dated(Note 2)
financialstatements(Note 3)

Net sales
Net sales to outside
41,436
29,62839,278110,34331
110,375—
110,375
customers
Inter-segment sales or
7,256
4,578
307
12,142—
12,142(12,142)—transfer
Total
48,69334,20739,586
122,48631
122,518(12,142)
110,375
Segment income (loss)
5,682
792
(368)
6,105
(78)
6,027
(9)
6,018
Segment assets
81,71063,62324,608
169,942
1,239
171,181
19,221
190,403
Other items
Depreciation and
2,644
1,512
240
4,398
2
4,400
589
4,990
amortization
Increase in property, plantand equipment and
3,611
2,580
206
6,399
5
6,404
1,700
8,104
intangible assets(Note) 1. The Other segment includes business segments that are not included in reportable segments.
2. Adjustment details are as follows.
(1) Adjustment of (9) million yen for Segment income (loss) is attributable to the elimination of inter-segment transactions.
(2) Adjustment of 19,221 million yen for Segment assets includes investment of surplus funds (cash and deposits) by the parent
company, long-term investment funds (investment securities) and assets, etc. related to the Administration and the Researchand Development Division of the parent company.
(3) Adjustment of 589 million yen for Depreciation and amortization is depreciation and amortization of common assets thatare not allocated to each reportable segment.
(4) Adjustment of 1,700 million yen for Increase in property, plant and equipment and intangible assets is an increase incommon assets that are not allocated to each reportable segment.
3. Segment income (loss) is adjusted with operating profit in the consolidated income statement.

- 13 -

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

Current consolidated fiscal year (April 1, 2021 to March 31, 2022)
Reportable segment

Performance Fibers &Polymers
Materials
Textiles

Other(Note 1)
Total

Total

(Unit: Millions of yen)Amountposted inConsoliAdjustment
dated(Note 2)
financialstatements(Note 3)

Net sales
Net sales to outside
50,837
34,37229,446
114,655
58
114,713—
114,713customers
Inter-segment sales or
5,312
1,708
215
7,236
—
7,236
(7,236)—transfer
Total
56,15036,08029,661
121,89258
121,950(7,236)
114,713
Segment income (loss)
6,645
24
(610)
6,060
(55)
6,004
1
6,005
Segment assets
91,451
59,651
24,356
175,459598
176,058
15,341
191,399
Other items
Depreciation and
2,715
1,697
138
4,551
3
4,554
692
5,246
amortization
Increase in property, plantand equipment and
3,919
2,239
218
6,377
15
6,393
2,036
8,429
intangible assets(Note) 1. The Other segment includes business segments that are not included in reportable segments.
2. Adjustment details are as follows.
(1) Adjustment of 1 million yen for Segment income (loss) is attributable to the elimination of inter-segment transactions.
(2) Adjustment of 15,341 million yen for Segment assets includes investment of surplus funds (cash and deposits) by the parent
company, long-term investment funds (investment securities) and assets, etc. related to the Administration and the Researchand Development Division of the parent company.
(3) Adjustment of 692 million yen for Depreciation and amortization is depreciation and amortization of common assets thatare not allocated to each reportable segment.
(4) Adjustment of 2,036 million yen for Increase in property, plant and equipment and intangible assets is an increase incommon assets that are not allocated to each reportable segment.
3. Segment income (loss) is adjusted with operating profit in consolidated income statement.

- 14 -

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

(Per share information)
Previous consolidated fiscal year
(April 1, 2020 to March 31, 2021)

Current consolidated fiscal year
(April 1, 2021 to March 31, 2022)

Net assets per share

257.67 yen

303.57 yen

Profit per share

61.44 yen33.32 yen

Profit per share after full
dilution

30.85 yen

17.88 yen

(Notes) 1. The basis for the calculation of net assets per share is as follows:

Previous consolidated
fiscal year
(March 31, 2021)

Current consolidated
fiscal year
(March 31, 2022)

Total net assets (millions of yen)

41,19243,071

Amounts deducted from the total net assets (millions of yen)

26,33625,568[of which amounts to be paid in for shares of class stock(millions of yen)][24,299][23,491]

[321]

[302]

[1,715][1,774][of which preferred dividends (millions of yen)][of which non-controlling interests (millions of yen)]

Net assets at the end of the fiscal year attributable to common
14,856
17,502stock (millions of yen)
Number of common stock at the end of the fiscal year used
57,65757,656for calculating net assets per share (thousand shares)
2. The basis for the calculation of profit per share and profit per share after full dilution is as follows:
Previous consolidated
Current consolidated
fiscal year
fiscal year
(April 1, 2020 to(April 1, 2021 toMarch 31, 2021)
March 31, 2022)
Profit per share
Profit attributable to owners of parent (millions of yen)
3,864
2,223
Amount not attributable to common stockholders
321
302(millions of yen)[of which preferred dividends (millions of yen)]

[321]

[302)

3,542

1,921

57,65757,656321

302[of which preferred dividends (millions of yen)]

[321]

[302]

Increased number of common stock (thousand shares)

67,622

66,732[of which preferred shares (thousand shares)][67,622][66,732]

Profit attributable to common stock owners of parent(millions of yen)
Average number of common stock during the fiscal year
(thousand shares)
Profit per share after full dilution
Net diluted profit attributable to owners of parent (millionsof yen)Outline of potential common shares that were not includedin the calculation of profit per share after full dilution due totheir anti-dilutive effect(Material subsequent events)
Not applicable.

- 15 -——

Unitika Ltd. (3103) Financial Report for Fiscal Year ended March 31, 2021

4. Supplementary Materials
4. Supplemental Materials(1) Results (consolidated)
OperatingprofitNet sales
Consolidated

FY ended March 2021

Full year
Q2
Full year
Q2 (Forecast)
Full year (Forecast)
Q2 (Forecast)
Full year (Forecast)

FY ended March 2022
FY ending March 2023
Comparison with prioryear

110,375
55,514
114,71360,000126,000
4,486
11,287(Millions of yen)
Profit attributableto owners ofparent
3,864
2,214
2,223
700
1,500
(1,514)(723)

Ordinary
profit

6,018
3,392
6,005
2,100
5,500
(1,292)
(505)

5,381
2,922
6,399
1,500
3,300
(1,422)(3,099)(2) Segment information (consolidated)(Millions of yen)

Net sales to outside
customers
Results for
FY ended
Component ratio (%)
previous fiscal
March 2021
year
Operating profit
Component ratio (%)
Net sales to outside
customers
Results for
FY ended
Component ratio (%)
current fiscal
March 2022
year
Operating profit
Component ratio (%)
Net sales to outside
customers
Increase/decrease
from previous year
Comparison with previous(%)
year
Operating profit
Increase/decrease
from previous year(%)
Net sales to outside
customers(Forecast) Component ratio (%)
Operating profit
FY endingComponent ratio (%)
March 2023
Net sales to outside(Forecast)customers
Comparison Component ratio (%)
Operating profit
Component ratio (%)

Elimination
Consolidatedor
total
corporate

Polymers

Performance
Materials

Fibers &Textiles

41,436

29,62839,27831—

110,375

37.5
5,682
94.4

26.8
792
13.2

35.6
(368)
(6.1)

0.0
(78)
(1.3)

—
(9)
(0.1)

100.0
6,018
100.0

50,837

34,37229,446

58—

114,713

44.3
6,645
110.7

30.0
24
0.4

25.7
(610)
(10.2)

0.1
(55)
(0.9)

—
1
0.0

100.0
6,005
100.0

9,401

4,744

(9,832)

27

—

4,338

—

—

—

—

—

—

963

(767)

(241)

22

10

(12)

17.0

(96.9)

—

—

—

(0.2)

57,00037,00032,0000—126,000

45.2
5,600
101.8

29.4
200
3.6

25.4
(300)
(5.5)

0.0
0
0.0

—
—
—

100.0
5,500
100.0

6,163

2,628

2,554

(58)

―

11,28712.1(1,045)(15.7)

7.6
176
―

8.7
310
―

―
55
―

―
―
―

9.8
(505)
(8.4)

Other

(3) Capital expenditures, Depreciation (Property, plant and equipment), R&D expenditures, Interest-bearing liabilities,
Financial account balance, Number of permanent employees (consolidated)(Millions of yen, persons)Depreciation(Property,
plant andequipment)
9,316
4,765
7,387
4,517
7,614
4,672

Capitalexpenditures

FY ended March 2020 Full year
FY ended March 2021 Full year
FY ended March 2022 Full year

Interestbearing
liabilities (endof fiscal year)
3,624
99,595
3,639
96,7983,601
93,890

R&D
expenditures

Financialaccountbalance(1,014)(1,054)(1,002)

Number ofpermanent
employees(persons)
3,438
3,007
3,037

(4) Cash flow (consolidated)(Millions of yen)

FY ended March 2020 Full year
FY ended March 2021 Full year
FY ended March 2022 Full year

Cash flow fromoperating activities
9,797
14,8698,666

Cash flow frominvesting activities(10,192)(6,171)(8,989)- 16 -Cash flow from
Cash and cash equivalents
financing activities
at end of fiscal year
(3,482)
18,194(4,141)
22,593(4,212)
18,415