Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

April 22, 2021

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021
(Under Japanese GAAP)
Company name:
OBIC Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4684
URL:
https://www.obic.co.jp/
Representative:
Shoichi Tachibana, President and COO
Inquiries:
Tomonori Anan, Administrator of Business Planning Office and Accounting Div.
Telephone:+81-3-3245-6510
Scheduled date of annual general meeting of shareholders:June 29, 2021
Scheduled date to commence dividend payments:
June 30, 2021
Scheduled date to file annual securities report:
June 30, 2021
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31,2021)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2021

83,862

4.2

48,07711.2

52,60014.3

38,001

8.3

March 31, 2020

80,488

8.5

43,23814.0

46,012

9.7

35,0968.9

Note: Comprehensive income

For the fiscal year ended March 31, 2021:
For the fiscal year ended March 31, 2020:

Basic earnings
per share

Diluted earnings
per share¥43,765 million¥33,036 million

Return on equity[32.5%][2.6%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales

Fiscal year ended

Yen

March 31, 2021

427.22

–

15.1

18.7

57.3

March 31, 2020

394.56

–

15.4

18.1

53.7

Reference:

Yen%%%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2021:¥3,348 million
For the fiscal year ended March 31, 2020:¥3,455 million(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2021

298,257

266,02589.2

2,990.72

March 31, 2020

264,596

238,39290.1

2,680.06

Reference:

EquityAs of March 31, 2021:
As of March 31, 2020:¥266,025 million¥238,392 million

1%

Yen

(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end ofperiod

Cash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2021

41,677(5,422)(15,121)150,745

March 31, 2020

31,999(9,238)(13,120)

129,612

2. Cash dividends
Annual dividends per shareFirstSecond
Third
quarter-end quarter-end quarter-end
Yen
Fiscal year ended
March 31, 2020
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022
(Forecast)

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio ofPayout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen%%

–

70.00

–

90.00

160.00

14,232

40.6

6.2

–

80.00

–

105.00185.0016,455

43.3

6.5

–

92.50

–

92.50

185.0041.1

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March31, 2022)
Net sales
Millions ofyen
Fiscal year ending
March 31, 2022

90,000Operating profit%

10.7(Percentages indicate year-on-year changes.)
Profit attributable to Basic earnings perowners of parent
share

Ordinary profit

Millions ofyen%Millions ofyen%Millions ofyen%

Yen

52,0008.2

56,000

6.5

40,0005.3

449.69Note: Because “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc. will be applied from the beginningof the fiscal year ending March 31, 2022, the above consolidated earnings forecasts represent the amounts based on the said
accounting standard, etc. and the percentages indicating year-on-year changes were calculated as if the said accounting
standard, etc. had been applied for the fiscal year ended March 31, 2021.

2

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: –Excluded:–(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021

99,600,000 shares

As of March 31, 2020

99,600,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2021

10,649,548 shares

As of March 31, 2020

10,649,548 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2021

88,950,452 sharesFiscal year ended March 31, 2020

88,950,476 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2021 (from April 1, 2020 to March31, 2021)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2021

74,7205.5

46,57412.0

49,14616.3

35,005

9.9

March 31, 2020

70,811

8.8

41,59914.2

42,275

11.4

31,854

11.0

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2021

393.54–

March 31, 2020

358.11–

Yen(2) Non-consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2021

244,189

215,575

88.3

2,423.55

March 31, 2020

215,058

192,22989.4

2,161.08

Reference:

EquityAs of March 31, 2021:
As of March 31, 2020:¥215,575 million¥192,229 million

3%

Yen

* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to OBIC Co., Ltd. (hereinafter “the Company”) and on certain assumptions
deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual
results by the Company. Actual business and other results may differ substantially due to various factors. Pleaserefer to the section of “(4) Future outlook” of “1. Review of operating results and others” on page 3 of[Attached Material] for the suppositions that form the assumptions for earnings forecasts and cautions
concerning the use thereof.

4

Consolidated financial statements(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - tradeMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of March 31, 2021

129,612
10,110
102
198
0
1,138
(2)
141,160

150,745
11,035
103
232
0930
(1)
163,046

30,945(3,317)
27,62828,193
4,452(2,425)2,026
57,84731,093(4,607)
26,48527,636
5,326(3,183)2,143
56,265

122
122

133
133

60,501
3,577
1,390
(4)
65,465
123,435
264,596

74,816
2,296
1,701
(2)
78,811
135,211298,257(Millions of yen)
As of March 31, 2020
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Unearned revenue
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities for land revaluation
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
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

6

As of March 31, 2021

3,708
7,393
1,237
2,372

3,523
9,706
1,138
2,372

116

105

3,616
18,444

7,086
23,931

5,942
156
1
1,657
7,758
26,203

6,046
240
1
2,012
8,300
32,231

19,17819,530218,159(22,140)
234,728

19,17819,530240,028(22,140)
256,596

5,177(1,705)
192
3,663
238,392
264,596

10,162
(694)
(39)
9,428
266,025
298,257

(2) Consolidated statement of income and consolidated statement of comprehensive income(Consolidated statement of income)(Millions of yen)
Fiscal year ended
March 31, 2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on sale of investment securities
Share of profit of entities accounted for using equity
methodRental income
Other
Total non-operating income
Non-operating expenses
Loss on valuation of investment securities
Rental expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Recoveries of written off receivables
OtherTotal extraordinary income
Extraordinary losses
Loss on bad debts recovered
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on valuation of investment securities
OtherTotal extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

Fiscal year ended
March 31, 2021

80,48824,15956,32813,09043,23883,862
23,02160,84012,76248,077

3562
–

1566
577

3,455

3,348

4257
4,120

1,272
62
5,829

273
1,068
4
1,346
46,012

–
1,306
0
1,306
52,6002,498
12,499–
288
288

500–
3
103
0
606
47,90513,004(194)
12,80935,096–35,096–12––
452,88415,017(134)
14,88338,001–
38,001

(Consolidated statement of comprehensive income)(Millions of yen)
Fiscal year ended
March 31, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

8

Fiscal year ended
March 31, 2021

35,09638,001(1,237)
–
269

3,464
1,010
(257)

(1,091)

1,546(2,059)33,036

5,764
43,76533,036

43,765––

(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2020 (From April 1, 2019 to March 31, 2020)(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

19,17819,530196,183(22,139)

Total shareholders’equity212,752

Changes during period
Dividends of surplus(13,120)(13,120)

Profit attributable to ownersof parent

35,09635,096

Purchase of treasury shares

(0)

(0)

Reversal of revaluation
reserve for land–

Net changes in items otherthan shareholders’ equity–

Total changes during period
Balance at end of period––

21,976(0)

21,975

19,17819,530218,159(22,140)

234,728

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

7,553

Revaluation reserve forland(1,705)Remeasurements ofdefined benefit plans(124)

Total accumulated
other comprehensive
income5,723

Total net assets

218,476

Changes during period
Dividends of surplus(13,120)

Profit attributable to ownersof parent

35,096

Purchase of treasury shares(0)

Reversal of revaluation
reserve for land–

Net changes in items otherthan shareholders’ equity(2,376)316(2,059)(2,059)Total changes during period(2,376)–316(2,059)

19,915

Balance at end of period

5,177(1,705)

192

3,663

238,392

9

Fiscal year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

Retained earnings

Treasury shares

19,17819,530218,159(22,140)

Total shareholders’equity234,728

Changes during period
Dividends of surplus(15,121)(15,121)

Profit attributable to ownersof parent

38,001

38,001

Purchase of treasury shares–

Reversal of revaluation
reserve for land

(1,010)(1,010)Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period–––

21,868–21,86819,17819,530240,028(22,140)

256,596

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

5,177

Revaluation reserve forland(1,705)Remeasurements ofdefined benefit plans
192

Total accumulated
other comprehensive
income3,663

Total net assets

238,392

Changes during period
Dividends of surplus(15,121)

Profit attributable to ownersof parent

38,001

Purchase of treasury shares–

Reversal of revaluation
reserve for land
Net changes in items otherthan shareholders’ equity

1,010
4,985

1,010–

(231)

4,753

4,753

Total changes during period

4,985

1,010

(231)

5,764

27,633

Balance at end of period

10,162

(694)

(39)

9,428

266,02510

(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
March 31, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Gain on bad debts recovered
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Loss (gain) on sale of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends receivedIncome taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Collection of bad debts recovered
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Dividends paid
Other, net
Net cash provided by (used in) financing activities
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

Fiscal year ended
March 31, 2021

47,905907

52,8842,240(3,455)(3,348)–376(2,498)

(577)
–
–

16

(11)

(0)
41(565)(1)
3(484)
91(321)
837
42,852
1,932(12,786)
31,999

(2)
(268)
(568)
(287)
2(924)
(34)
(184)
3,523
52,443
1,953(12,720)
41,677(12,490)
3(39)
(1)
200
2,498
592
(9,238)(1,085)845(27)(8,841)
3,607–
78(5,422)(13,120)(0)(13,120)9,640
119,972
129,612(15,121)–(15,121)
21,133
129,612150,745