Summary of Consolidated Financial Statements for the First Half Ended
June 30, 2021 [IFRS]
August 4, 2021
Company name: Lion Corporation
Listed stock exchanges: Tokyo Stock Exchange
Code: 4912
URL: http://www.lion.co.jp/
Representative: Masazumi Kikukawa, Representative Director, President and Executive Officer
Contact: Akihiko Takeo, Director of Finance Department
Telephone: +81-3-3621-6211
Scheduled date of filing of quarterly financial report: August 10, 2021
Start date of payment of dividend: September 3, 2021
Supplementary materials prepared for quarterly results: Yes
Quarterly results information meeting held: Yes (for institutional investors, analysts, etc.)
Figures in this and subsequent tables are truncated at the nearest million.

1. Consolidated Results for the First Half Ended June 30, 2021
(January 1, 2021 – June 30, 2021)(1) Consolidated Results (cumulative)(Percentage figures denote year-on-year change)
Net sales
Millions of yen

Operating profit%

Millions of yen%

Profit before tax
Millions of yen%

Six months ended
June 30, 2021

173,223

2.4

14,186(45.4)

15,928(41.1)

Six months ended
June 30, 2020

169,111

1.1

25,968101.5

27,041

98.3

Profit for the period
Millions of yen

Six months ended
June 30, 2021
Six months ended
June 30, 2020%

Profit for the period
attributable toowners of the parent
Millions of yen%

Total comprehensive
income for the period
Millions of yen%

11,797(39.7)

10,815(41.9)

14,368(3.7)

19,55799.1

18,623114.3

14,923

47.4

Note: Core operating income for the six months ended June 30, 2021 was ¥14,032 million (down
14.3% year on year). Core operating income for the six months ended June 30, 2020 was¥16,372 (up 31.4% year on year).
Core operating income is an earnings indicator the Company uses to measure regular businessperformance and is calculated by subtracting selling, general and administrative expenses fromgross profit.

Basic earnings per share Diluted earnings per share
Yen

Yen

Six months ended
June 30, 2021
Six months ended
June 30, 2020

37.20

37.14

64.06

63.98

(2) Consolidated Financial Position

Total assets Total equity

Equityattributable toowners of theparentRatio of equity
attributable toowners of theparent to total
assetsMillions of yen

Millions of yen

Millions of yen%

416,627

254,748

241,606

58.0

435,501

244,856

231,72353.2

Six months ended
June 30, 2021
Year ended
December 31, 2020

2. Dividends
Cash dividends per shareFirst
Quarter
Yen

Fiscal 2020
Fiscal 2021
Fiscal 2021
(forecast)SecondQuarter
Yen

—
—

Third
Quarter
Yen

11.00
12.00

Year-End

Total

Yen

Yen

—

12.00

23.00

—

12.00

24.00

Note: Changes from the most recently published forecast of dividends: No
3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2021
(January 1, 2021 – December 31, 2021)(Percentage figures denote year-on-year change)
Net sales
Millions of yen

Fiscal 2021

365,000

Operating profit%

Millions of yen

2.7

30,000%(31.9)

Profit for the period
attributable to owners of
the parent
Millions of yen

21,500%(28.0)

Notes: 1. Core operating income forecast: Fiscal 2021:¥30,000 million
2. Changes from the most recently published financial results forecast: No

Basic earnings per
share
Yen

73.95

Notes(1)

Significant Change in Scope of Consolidation during Period: No(2)

Changes in accounting principles, procedures and presentation methods in connection with the preparation ofquarterly consolidated financial statements:
a. Changes in accounting standards required under IFRS: No
b. Other changes: No
c. Changes in accounting estimates: No(3) Number of outstanding shares (common stock)a. Number of outstanding shares on balance sheet dates (including treasury stocks):

As of June 30, 2021:
As of December 31, 2020:

299,115,346 shares
299,115,346 sharesb. Number of treasury stocks on balance sheet date:

As of June 30, 2021:
As of December 31, 2020:

8,381,802 shares
8,399,357 sharesc. Average number of shares outstanding over period

Six months ended June 30, 2021: 290,726,043 shares
Six months ended June 30, 2020: 290,709,448 shares* This report is not subject to review by a certified public accountant or external auditor.
* Appropriate use of results forecasts; other special items
The forecasts and projected operating results contained in this report are based on information available at the timeof preparation and thus involve inherent risks and uncertainties, including those related to economic conditions, thecompetitive environment and exchange rate fluctuations. Accordingly, readers are cautioned that actual results may
differ materially from those projected as a result of a variety of factors. For information on forecasts of operating
results, see I. Qualitative Information Concerning the Results of Operations for the First Half of the Current Fiscal
Year (3) Forecast of Consolidated Financial Results on page 8.

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

Contents
1. Qualitative Information Concerning the Results of Operations
for the First Half of the Current Fiscal Year ----------------------------------------------------------------------------2(1) Consolidated Performance -------------------------------------------------------------------------------------------2(2) Financial Status ---------------------------------------------------------------------------------------------------------8(3) Forecast of Consolidated Financial Results ---------------------------------------------------------------------8

2. Condensed Consolidated Financial Statements and Notes ----------------------------------------------------9(1) Condensed Consolidated Statement of Financial Position -------------------------------------------------9(2) Condensed Consolidated Statement of Income and Statement of Comprehensive Income ---- 11(3) Condensed Consolidated Statement of Changes in Equity --------------------------------------------- 13(4) Notes to Condensed Consolidated Financial Statements ----------------------------------------------- 15
Notes relating to the assumption of a going concern ---------------------------------------------------------------------------- 15
Segment Information --------------------------------------------------------------------------------------------------------------------- 15

1

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

1. Qualitative Information Concerning the Results of Operations for the First Half of theCurrent Fiscal Year
(1) Consolidated Performance
Consolidated results for the first half of fiscal 2021 (January 1, 2021–June 30, 2021) are as follows. Net
sales amounted to ¥173,223 million, a year-on-year increase of 2.4% (or a 1.3% increase at constantcurrency excluding exchange rate fluctuations). Core operating income came to ¥14,032 million, down
14.3% compared with the previous fiscal year, and operating profit to ¥14,186 million, down 45.4% year
on year. Profit for the period attributable to owners of the parent totaled ¥10,815 million, down 41.9%
compared with the previous fiscal year.
Under Vision2030, its new long-term strategic framework, the Lion Group advanced initiatives to address
its Sustainability Material Issues as well as measures based on three growth strategies. These strategies
are “Accelerate growth in four fields of value creation,” “Transform our business foundations for growth”
and “Generate dynamism to realize innovative change.” At the same time, with no end to the novel
coronavirus (COVID-19) pandemic in sight, the Lion Group has been making every effort to prevent the
spread of the virus and ensure the safety of its employees while focusing efforts on promoting theestablishment of good hygienic habits.
In its domestic operations, Lion introduced such new products as toothpastes, toothbrushes, hygienerelated products, fabric softeners, dishwashing detergents and dermatologic agents and worked tocultivate markets for these products through efficient marketing.
In its overseas operations, in addition to efforts to expand its business in the personal care field, which
includes oral care and beauty care products, the Group sought to bolster its competitiveness andprofitability in the home care field, which includes such products as laundry detergents.
Consolidated Results(Millions of yen)Six months
ended June 30,2021

Six months
ended June 30,
2020

Ratio tonet sales

Net sales

173,223Core operating income

14,032

8.1%

16,372

Operating profit

14,186

8.2%

10,815

6.2%

Ratio tonet sales

169,111

ChangeChange
(%)

4,111

2.4%

9.7%

(2,340)(14.3%)

25,968

15.4%(11,781)(45.4%)

18,62311.0%(7,807)(41.9%)

Profit for the period
attributable to owners of
the parent
Note: Core operating income is an earnings indicator the Company uses to measure regular business performance by
subtracting selling, general and administrative expenses from gross profit.

2

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

Results by Business(Millions of yen)
Net sales
Six months
ended June30, 2021

Six
monthsendedJune 30,
2020

Consumer Products

116,645

Industrial Products

Segment profit (core operating income)ChangeChange(%)

Six months
ended
June 30,2021

Six months
ended
June 30,
2020

115,737

908

0.8%

8,250

11,768(3,518)(29.9%)

28,434

27,124

1,310

4.8%

1,413

1,040

373

35.9%

Overseas53,594

49,687

3,907

7.9%

3,481

3,311

170

5.1%

Other

16,363

14,580

1,783

12.2%

1,014

895

118

13.3%

Subtotal

215,038

207,128

7,909

3.8%

14,15917,015(2,855)(16.8%)

Adjustment(41,815)(38,017)(3,798)

―

(127)

(643)

515

―

Total

173,223

169,111

4,111

2.4%

14,032

16,372(2,340)(14.3%)

Change(%)

ChangeResults by business segment are as follows.
Consumer Products Business
The Consumer Products Business segment comprises the Oral Care Products, Beauty Care Products,
Fabric Care Products, Living Care Products, Pharmaceutical Products and Other Products businesses.
Segment net sales increased 0.8% compared with the previous fiscal year. Segment profit decreased
29.9%.
(Millions of yen)Six months
ended June 30,
2021
Net sales

Six months
ended June 30,
2020

Ratio tonet sales

116,645

115,737

Segment profit

Ratio tonet sales

ChangeChange
(%)

908

0.8%

8,250
7.1%
11,76810.2%(3,518)(29.9%)
Note: Net sales include internal sales within and among segments, which amounted to ¥9,477 million in the first halfof fiscal 2021 and ¥7,627 million in the first half of fiscal 2020.

3

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

Net Sales by Product Segment(Millions of yen)Six months ended
June 30, 2021

Six months ended
June 30, 2020

Oral Care Products

32,15030,647

1,502

4.9%

Beauty Care Products

11,65016,182(4,532)(28.0%)

Fabric Care Products

28,592

26,914

1,678

6.2%

Living Care Products

11,596

11,955(358)(3.0%)

Pharmaceutical Products

11,415

10,908506

4.6%

Other Products

21,23919,128

2,111

11.0%

ChangeChange(%)

Oral Care Products
In toothpastes, although sales of SYSTEMA EX Toothpaste decreased year on year, those of SYSTEMA
Haguki (the Gums) Plus Premium Toothpaste were favorable, and new Lightee Toothpaste, a whitening
toothpaste that thoroughly removes grime from even micro-level imperfections in the dental surface,received favorable customer reviews. Overall sales increased year on year.
In toothbrushes, sales of CLINICA ADVANTAGE Toothbrush and NONIO Toothbrush were strong, and
new SYSTEMA Toothbrush Super Premium, which combines the benefits of a wide head for efficientplaque removal and a thin brush back for ease of maneuverability in the mouth, received favorable
consumer reviews. Overall sales increased year on year.

In dental rinses, sales of NONIO Plus Whitening Dental Rinse received favorable customer reviews, andoverall sales increased year on year.
Beauty Care Products
In hand soaps, sales of KireiKirei Medicated Foaming Hand Soap decreased year on year, reflecting
recoil from a demand boom in the same period of the previous year. Overall sales decreased year onyear.
In body washes, sales of hadakara Body Soap were firm, and overall sales increased year on year.

In antiperspirants and deodorants, sales of the Ban Sweat-Blocking Roll-On series decreased year on
year. Overall sales fell year on year.
Fabric Care Products
In fabric softeners, sales of SOFLAN Aroma Rich were strong, and sales of SOFLAN Premium
Deodorizer were steady. Overall sales were up substantially year on year.
4Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

In laundry detergents, sales of liquid laundry detergent TOP Clear Liquid fell year on year, but sales ofhighly concentrated liquid laundry detergent TOP SUPER NANOX For Odors were strong. Overall sales
increased year on year.
Living Care Products
In dishwashing detergents, sales of CHARMY Crysta for dishwashers were strong, and sales of
CHARMY Magica were steady. Overall sales increased year on year.
In household cleaners, sales of bathroom fungicide LOOK Plus Bath Antimold Fogger were favorable,
and sales of bath detergent LOOK Plus Bath Cleansing were firm. Overall sales increased year on year.
In food preparation products, sales of REED Healthy-Cooking Paper decreased compared with the same
period of the previous fiscal year, and overall sales decreased year on year.
Pharmaceutical Products
In antipyretic analgesics, sales of the BUFFERIN series were up substantially year on year, and overallsales increased significantly year on year.
In eye drops, sales of Smile 40 Premium DX were steady, and overall sales increased year on year.
Other Products
In direct-to-consumer sales products, sales of Nice rim essence Lactoferrin fell compared with the same
period of the previous fiscal year, and overall sales were down year on year.
In pet supplies, sales of Nioi wo Toru Suna (Deodorizing Cat Litter) were firm, and those of oral careproducts were favorable. Overall sales were up year on year.

5Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

Industrial Products Business
The Industrial Products Business segment includes the Mobility, Electronics and Detergents for
Institutional Use Products fields. These businesses handle products that include anti-sticking agents fortires, electro-conductive carbon for secondary batteries, and detergents for institutional and kitchen use,
respectively. Segment net sales increased 4.8% compared with the previous fiscal year. Segment profit
increased 35.9%.
(Millions of yen)Six months ended
June 30, 2021
Net sales

28,434

Segment profit

1,413

Ratio tonet sales

Six months ended
June 30, 2020

Ratio tonet sales

27,124
5.0%

1,040

3.8%

ChangeChange
(%)

1,310

4.8%

373

35.9%

Note: Net sales include internal sales within and among segments, which amounted to ¥11,803 million in the firsthalf of fiscal 2021 and ¥11,925 million in the first half of fiscal 2020.

In the Mobility field, sales of anti-sticking agents for tires and mold releasing agent for rubber werestrong, and overall sales increased significantly year on year.
In the Electronics field, sales of conductive carbon for vehicle batteries were strong, and overall sales
were up substantially year on year.
In the Detergents for Institutional Use Products field, sales of hand soaps were favorable, and overallsales were up year on year.
Overseas Business
The Overseas Business segment comprises business operations located in Southeast Asia, including
Thailand and Malaysia, and Northeast Asia, including South Korea and China. Segment net sales
increased 7.9% year on year (or a 3.4% increase at constant currency excluding exchange rate
fluctuations). Segment profit increased 5.1% year on year.
(Millions of yen)Six months ended
June 30, 2021
Net sales

53,594

Segment profit

3,481

Ratio tonet sales

Six months ended
June 30, 2020

Ratio tonet sales

49,687
6.5%

3,311

6.7%

ChangeChange
(%)

3,907

7.9%

170

5.1%

Note: Net sales include internal sales within and among segments, which amounted to ¥5,293 million in the first halfof fiscal 2021 and ¥5,379 million in the first half of fiscal 2020.

6

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

Net Sales by Region(Millions of yen)Six months ended
June 30, 2021

Six months ended
June 30, 2020

Change(%)

ChangeSoutheast Asia

34,251

32,591

1,660

5.1%

Northeast Asia

19,342

17,095

2,247

13.1%

Net Sales by Region
In Southeast Asia, overall sales were up 5.1% year on year.
In Thailand, sales of laundry detergents were firm. Overall sales after yen conversions were up year onyear.
In Malaysia, sales of TOP laundry detergent were strong. Overall sales after yen conversions were up
significantly year on year.
In Northeast Asia, overall sales were up 13.1% year on year.
In South Korea, sales of hand soaps decreased year on year, but overall sales after yen conversions
increased year on year.
In China, sales of SYSTEMA toothbrushes and products imported from Japan increased significantly year
on year. Overall sales after yen conversions were up substantially year on year.
Other (Construction Contracting Business, etc.)
Six months ended
June 30, 2021
Net sales

16,363

Segment profit

1,014

Ratio tonet sales(Millions of yen)Six months ended
June 30, 2020

Ratio tonet sales

14,580
6.2%

895

6.1%

ChangeChange
(%)

1,783

12.2%

118

13.3%

Note: Net sales include internal sales within and among segments, which amounted to ¥15,192 million in the firsthalf of fiscal 2021 and ¥13,119 million in the first half of fiscal 2020.

7

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

(2) Financial Status
Status of Consolidated Assets, Liabilities and Equity
Six months ended
June 30, 2021

Six months ended
June 30, 2020

ChangeTotal assets (millions of yen)

416,627

435,501(18,873)

Total equity (millions of yen)

254,748244,856

9,891

58.0

53.2

4.8

Ratio of equity attributable to ownersof the parent to total assets (%)

Total assets fell ¥18,873 million compared with the previous consolidated fiscal year-end to ¥416,627
million. This was primarily attributable to a decrease in cash and cash equivalents. Total equity increased¥9,891 million to ¥254,748 million. The ratio of equity attributable to owners of the parent to total assets
stood at 58.0%(3) Forecast of Consolidated Financial Results
Lion has made no revisions to the consolidated financial results forecasts released on July 30, 2021 forthe full fiscal year.
Assumptions Underlying the Forecast of Consolidated Financial Results for Fiscal 2021
Lion utilized the following foreign exchange rates in the calculation of the aforementioned forecasts.
JPY110 = USD1.00
JPY3.4 = THB1.00

8

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

2. Condensed Consolidated Financial Statements and Notes(1) Condensed Consolidated Statement of Financial Position(Millions of yen)
December 31, 2020

June 30, 2021

AssetsCurrent assets
Cash and cash equivalents

121,534

90,136

Trade and other receivables

62,421

58,043Inventories

45,15853,996

Other financial assets

8,592

9,974

Other current assets

5,108

8,046

242,815

220,198

Assets held for sale

2,603

―

Total current assets

245,419

220,198

118,379

123,784

182

182

Intangible assets

18,921

20,345Right-of-use assets
Investments accounted for using the equity
methodDeferred tax assets

4,873

6,642

6,310

6,655

5,632

3,982

Retirement benefit assets

9,936

9,460

Other financial assets

Subtotal

Non-current assets
Property, plant and equipment
Goodwill

24,85924,155

Other non-current assets

986

1,219

Total non-current assets

190,081

196,429435,501

416,627

Total assets

9Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
(Millions of yen)
December 31, 2020

June 30, 2021

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

141,259

124,624

Borrowings

1,405

1,412

Income tax payables

11,5692,381

Provisions

1,401

1,544

Lease liabilities

1,387

1,553

Other financial liabilities

893

805

Other current liabilities

8,710

5,417

166,628

137,740

639

525

Total current liabilities
Non-current liabilities
Borrowings
Deferred tax liabilities

1,278

1,275

Retirement benefit liabilities

13,00911,601357

330

Lease liabilities

4,685

6,359

Other financial liabilities

2,487

2,478

Other non-current liabilities

1,558

1,568

Total non-current liabilities

24,01624,138

Total liabilities

190,644

161,879

Share capital

34,43334,433

Capital surplus

34,98635,032

Treasury stock(4,739)(4,730)

Other components of equity

10,076

11,166

Retained earnings

156,965

165,704

Equity attributable to owners of the parent

231,723

241,606

Provisions

EquityNon-controlling interests

13,133

13,141

Total equity

244,856

254,748

Total liabilities and equity

435,501

416,627

10

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

(2) Condensed Consolidated Statement of Income and Statement of Comprehensive Income
Condensed Consolidated Statement of Income
Six months ended June 30, 2020 and 2021
Six months ended
June 30, 2020
169,111(83,507)85,604(69,231)
11,521(1,925)25,968445(76)(Millions of yen)Six months ended
June 30, 2021
173,223(86,830)
86,393(72,360)
647(493)
14,186
481
(69)

703

1,330

27,041(7,484)
19,557

15,928(4,131)
11,797

Profit for the period attributable to:
Owners of the parent
Non-controlling interests
Profit for the period

18,623933
19,557

10,815981
11,797

Earnings per share
Basic (Yen)
Diluted (Yen)

64.06
63.98

37.20
37.14

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Finance income
Finance costs
Share of profit of investments accounted forusing the equity method
Profit before tax
Income taxes
Profit for the period

11Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
Condensed Consolidated Statement of Comprehensive Income
Six months ended June 30, 2020 and 2021

19,557(Millions of yen)Six months ended
June 30, 2021
11,797

(939)

(125)

(1,924)

1,295

(15)

14

(2,879)

1,184

―

(1)

(1,627)

1,169

(127)

218

(1,754)

1,385(4,634)
14,9232,570
14,36814,561361
14,923

13,3191,048
14,368Six months ended
June 30, 2020
Profit for the period
Other comprehensive income
Items that will not be reclassified as profit orloss
Net gain (loss) on revaluation of financial
assets measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans
Share of other comprehensive income (loss)of investments accounted for using theequity method
Total items that will not be reclassified as profit
or loss
Items that may be subsequently reclassified as
profit or loss
Net gain (loss) on derivatives designated as
cash flow hedges
Exchange differences on translation offoreign operations
Share of other comprehensive income (loss)of investments accounted for using theequity method
Total items that may be subsequently
reclassified as profit or loss
Total other comprehensive income, net of tax
Comprehensive income for the period
Comprehensive income for the period
attributable to:
Owners of the parent
Non-controlling interests
Comprehensive income for the period

12Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021

(3) Condensed Consolidated Statement of Changes in Equity
Six months ended June 30, 2020
(Millions of yen)

Balance at January 1, 2020
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Dividends
Acquisition of treasury
stock
Disposal of treasury
stock
Share-based
payments
Transfer from othercomponents of equity
to retained earnings
Total transactions withownersBalance at June 30, 2020

Balance at January 1, 2020
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Dividends
Acquisition of treasury
stock
Disposal of treasury
stock
Share-based
payments
Transfer from othercomponents of equity
to retained earnings
Total transactions withownersBalance at June 30, 2020

Equity attributable to owners of the parent
Other components of equity
Net gain (loss)
on revaluation offinancial assets
Remeasurements
Share capital
Capital surplus Treasury stock
Subscription measured at fairof defined benefit
rights to shares value through
plans
other
comprehensive
income34,43334,788(4,739)143
11,289
―

―

―

―

―

(921)

(1,924)(921)(1,924)

(30)

1,924

(1)

43

―

43

(1)

―

(30)

1,924

34,433

34,831(4,741)

143

10,337―

Equity attributable to owners of the parent
Other components of equity
Net gain (loss)
Exchange
Retainedon derivatives
differences on
earnings
designated astranslation of
Total
cash flow
foreignhedgesoperations(113)
11,320132,619―
18,623―

Non-controllinginterests

Total

Total equity

208,421
18,623

12,780933

221,201
19,557(4,061)(572)(4,634)―(1,215)(4,061)―(1,215)(4,061)

18,623

14,561361

14,923―(3,197)(3,197)(823)(4,021)

―

(1)

(1)

―

―

―

―

43

43
―

1,894

(1,894)

―

―

―

1,894

(5,091)(3,156)(823)(3,979)―(1,329)9,152

146,150

219,826

12,318232,145

13

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
Six months ended June 30, 2021
(Millions of yen)

Balance at January 1, 2021
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Dividends
Acquisition of treasury
stock
Disposal of treasury
stock
Share-based
payments
Transfer from othercomponents of equity
to retained earnings
Total transactions withownersBalance at June 30, 2021

Balance at January 1, 2021
Profit for the period
Other comprehensive
incomeTotal comprehensive
income for the period
Dividends
Acquisition of treasury
stock
Disposal of treasury
stock
Share-based
payments
Transfer from othercomponents of equity
to retained earnings
Total transactions withownersBalance at June 30, 2021

Equity attributable to owners of the parent
Other components of equity
Net gain (loss)
on revaluation offinancial assets
Remeasurements
Share capital
Capital surplus Treasury stock
Subscription measured at fairof defined benefit
rights to shares value through
plans
other
comprehensive
income34,43334,986(4,739)138
10,592
―

―

―

―

―

(82)

1,295

(82)

1,295

(115)

(1,295)

(1)
1

10

(2)

44

―

45

8

(2)

(115)

(1,295)34,43335,032(4,730)135

10,394―Equity attributable to owners of the parent
Other components of equity
Net gain (loss)
Exchange
Retainedon derivatives
differences on
earnings
designated astranslation of
Total
cash flow
foreignhedgesoperations
(0)
(654)
10,076
156,965
10,815―

Non-controllinginterests

Total

Total equity

231,723
10,815

13,133981

244,856
11,797

2,503

66

2,570

(1)

1,292

2,503

(1)

1,292

2,503

10,815

13,3191,048

14,368―(3,488)(3,488)(1,040)(4,528)

―

(1)

(1)

(2)

8

8

―

44

44
―

(1,411)

1,411

―

―

―

(1,413)(2,077)(3,436)(1,040)(4,476)(1)

638

11,166

165,704

241,606

13,141

254,748

14

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
(4) Notes to Condensed Consolidated Financial Statements
Notes relating to the assumption of a going concern
Not applicable.
Segment Information
1) Overview of reportable segments
The Group’s reportable segments are component units of the Company for which separate financial information isavailable and that are subject to regular review by the Board of Directors for the purpose of making decisions regarding
the allocation of management resources and evaluating business performance.
The Group’s business divisions are organized by product category; each business division formulates acomprehensive strategy and carries out business activities for the products it handles. Affiliated companies in Japan
undertake business activities pertinent to the characteristics of their respective products and services.
Affiliated companies located overseas are independent management units that conduct business activities pertinent
to the characteristics of the regions in which they operate.
Accordingly, the Group comprises three reportable segments divided by product and service type and by region,
which are, in turn, based on business divisions and companies; namely, the reportable segments are Consumer
Products Business, Industrial Products Business and Overseas Business.

The Company’s reportable segments are as follows.
A.

Consumer Products Business
The Consumer Products Business engages in the manufacture and sale of commodities, over-the-counter drugs
and foods with function claims, primarily in Japan.
Main products: Toothpastes, toothbrushes, hand soaps, antipyretic analgesics, eye drops, health tonic drinks,
laundry detergents, dishwashing detergents, fabric softeners, household cleaners, bleaches and pet supplies

B.

Industrial Products Business
The Industrial Products Business engages primarily in the manufacture and sale of chemical raw materials,
industrial products and other items in Japan and overseas.
Main products: Activator, electro-conductive carbon and detergents for institutional use

C.

Overseas Business
The Overseas Business engages mainly in the manufacture and sale of commodities by affiliated overseas
businesses.

D.

Other Business
Lion subsidiaries located in Japan primarily undertake operations related to Group businesses.
Main products and services: Construction contracting, real estate management and temporary staffing

15

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
(2) Net Sales and Performance of Reportable Segments
Six months ended June 30, 2020
(Millions of yen)
Reportable Segment
Other

Total

Adjustment2 Consolidated3

Consumer
Products
Business

Industrial
Products
Business

Overseas
Business

108,109

15,19844,3071,460

169,07635

169,111

7,627

11,925

5,379

13,11938,052(38,052)―

115,737

27,124

49,687

14,580207,128(38,017)

169,111

11,768

1,040

3,311

895

17,015(643)

16,372

Net sales(1) External(2) Intersegment1
Total
Core operating
incomeOther income

11,521Other expenses(1,925)

Operating profit

25,968Finance income

445

Finance costs
Share of profit ofinvestments
accounted for using
the equity method
Profit before tax(76)Notes:

703
27,041

1. Includes intra-segment transactions within the reportable segments.
2. A negative ¥643 million adjustment of core operating income mainly comprises intersegment eliminations
and corporate expenses not allocated to any reportable segment.
3. Core operating income is reconciled with gross profit as follows.
Gross profit
Selling, general and administrative expenses
Core operating income

85,604(69,231)
16,372

Core operating income is calculated as gross profit less selling, general and administrative expenses, andis the basis on which the Board of Directors evaluates the performance of each segment.

16

Lion Corporation (Code 4912): Consolidated Financial Statements
for the First Half Ended June 30, 2021
Six months ended June 30, 2021
(Millions of yen)
Reportable Segment
Other

Total

Adjustment2 Consolidated3

Consumer
Products
Business

Industrial
Products
Business

Overseas
Business

107,168

16,631

48,301

1,171

173,272(48)

173,223

9,477

11,803

5,293

15,192

41,766(41,766)―

116,645

28,43452,594

16,363215,038(41,815)

173,223

8,250

1,413

3,841

1,014

14,159(127)

14,032

Net sales(1) External(2) Intersegment1
Total
Core operating
incomeOther income

647

Other expenses(493)

Operating profit

14,186

Finance income

481

Finance costs
Share of profit ofinvestments
accounted for using
the equity method
Profit before tax(69)

Notes:

1,330
15,928

1. Includes intra-segment transactions within the reportable segments.
2. A negative ¥127 million adjustment of core operating income mainly comprises intersegment eliminations
and corporate expenses not allocated to any reportable segment.
3. Core operating income is reconciled with gross profit as follows.
Gross profit
Selling, general and administrative expenses
Core operating income

86,393(72,360)
14,032

Core operating income is calculated as gross profit less selling, general and administrative expenses, andis the basis on which the Board of Directors evaluates the performance of each segment.

17