CONSOLIDATED FINANCIAL STATEMENTS
These Consolidated Financial Statements were publicly released in the Japanese language on November 11, 2020.
(1) Consolidated statement of financial position(Millions of yen)
As of March 31, 2020

As of September 30, 2020

AssetsCurrent assets
Cash and cash equivalents

14,493

16,293

Trade and other receivables

20,10319,019Inventories

12,851

11,911

Income taxes receivable

17346

Other financial assets

634

352

Other current assets

722

620

Total current assets

48,822

48,544

Property, plant and equipment

33,91333,094

Goodwill8,5948,595

Intangible assets

4,798

4,540

6,039

6,264

Other financial assets

7,010

7,636

Deferred tax assets

524520

Other non-current assets

594

588

Total non-current assets

61,474

61,240110,297

109,784

Non-current assets

Investments accounted for using equity
methodTotal assets

(Millions of yen)
As of March 31, 2020

As of September 30, 2020

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

13,483

10,748

Bonds and borrowings

6,774

6,708

Income taxes payable

348

467

Other financial liabilities

998

1,014

Provisions

268

Other current liabilities

4,198

3,984

Total current liabilities

25,82922,931

14,70015,900Retirement benefit liability

777

788

Other financial liabilities

1,611

1,655

Deferred tax liabilities

932

1,085

Other non-current liabilities

2,537

2,337

Total non-current liabilities

20,55821,767

46,387

44,698

Share capital

10,951

10,951

Capital surplus

3,075

3,047

Retained earnings

52,301

52,887

Treasury shares-1,692-1,620-988-429

63,64864,836261

249

Total equity

63,90965,086Liabilities and equity

110,297

109,784

Non-current liabilities
Bonds and borrowings

Total liabilities
EquityOther components of equity
Total equity attributable to owners of parent
Non-controlling interests

(2) Consolidated Statement of Income(Millions of yen)Six months ended

Six months ended

September 30, 2019

September 30, 2020

Revenue

46,234

37,116

Cost of sales

32,332

26,094Gross profit

13,901

11,022

Selling, general and administrative expenses

10,966

9,696

Other income

115132Other expenses

598

125317

104

Operating profit

2,770

1,436

Finance income227169

Finance costs

399

191

Profit before tax

2,597

1,415

522

380

2,075

1,034

2,066

1,028

8

5

2,075

1,034

45.03

22.59

Share of profit of investments accounted for using
equity method

Income tax expense
ProfitProfit attributable toOwners of parent
Non-controlling interests
ProfitEarnings per share
Basic earnings per share(3) Consolidated Statement of Comprehensive Income(Millions of yen)

ProfitSix months ended

Six months ended

September 30, 2019

September 30, 2020

2,075

1,034-163

742

5-6-157736-939

-114

-180

215

Total-1,120

101

Total other comprehensive income-1,278

837

796

1,871

794

1,873

Non-controlling interests

1-1

Comprehensive income

796

1,871

Other comprehensive income
Items that will not be reclassified to profit or loss
Net change in fair value of equity instruments
designated as measured at fair value throughother comprehensive income
Share of other comprehensive income ofinvestments accounted for using equity
methodTotal
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign
operations
Share of other comprehensive income ofinvestments accounted for using equity
methodComprehensive income
Comprehensive income attributable toOwners of parent

(4) Consolidated Statement of Changes in Equity(Millions of yen)
Equity attributable to owners of parent
Other
Share
capitalCapitalsurplusRetainedearnings

Treasurysharescomponentsofequity

Balance at beginning of period

10,951

3,075

Profit52,301-1,692

1,028

Other comprehensive income
Comprehensive income

-988

－－

Dividends of surplus

1,028

－

Disposal of treasury shares

-27

Total
Balance at end of period

controlling

ownersinterests

Totalofparent
63,64826163,909

5

1,034

844

-7

837

844

1,873

-1

1,871

-729

-9-738-0-0-072

44

44－－-286－－transactions
286

equity to retained earnings

Non-able to1,028

Share-based remuneration
Transfer from other components of

attribut

844

-729

Purchase of treasury shares

Equity

－-27

-442

71

-286

-685

-9-695

10,951

3,047

52,887-1,620-429

64,836249

65,086

(5) Consolidated Statement of Cash Flows(Millions of yen)Six months ended

Six months ended

September 30, 2019

September 30, 2020

Cash flows from operating activities
Profit before tax

2,597

1,415

Depreciation and amortization

2,962

2,968

Interest and dividend income

-210

-167

82

74

-317

-104

Loss (gain) on sale and retirement of fixed assets

65

78

Decrease (increase) in inventories

228

872

Decrease (increase) in trade and other receivables

805

1,287

Increase (decrease) in trade and other payables-1,885-2,191

Increase (decrease) in retirement benefit liability-878

16-1,355－

Increase (decrease) in provisions

-283

-18

Increase / decrease in other non-current liabilities

2,375

-200

141-71

4,328

3,960

Interest and dividends received

340

228

Interest paid

-85-68-1,184-779

2

4

3,401

3,346

-340

-316

Interest expenses
Share of loss (profit) of investments accounted forusing equity method

Increase in equity instruments due to retirement
benefit trust return

Other
Subtotal

Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits

235

594

Purchase of property, plant and equipment-2,725-1,725712

Purchase of intangible assets

-328

-184

Purchase of equity instruments

-11

-11

Proceeds from sale of equity instruments

30236

Payments for acquisition of subsidiaries-9,291－29-35-12,394-1,429Proceeds from sale of property, plant andequipment

OtherNet cash provided by (used in) investing activities

(Millions of yen)Six months ended

Six months ended

September 30, 2019

September 30, 2020

Cash flows from financing activities
Net increase (decrease) in short-term loans

15,700-1,899－2,000

Proceeds from long-term borrowings－2,000Repayments of long-term borrowings-5,325-935

Repayments of lease liabilities

-611

-589

Purchase of treasury shares-0-0

Proceeds from sale of treasury shares

54

44

Dividends paid to owners of parent

-734

-729

Dividends paid to non-controlling interests

-15

-9

Net cash provided by (used in) financing activities

9,066

-119

-244

3

-171

1,800

Cash and cash equivalents at beginning of period

17,53014,493

Cash and cash equivalents

17,35816,293borrowings (within three months)
Proceeds from short-term loans borrowings (overthree months)

Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents