Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2021
(Based on Japanese GAAP)
August 6, 2021
Company name:
SAN-AI OIL CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

8097
URL http://www.san-ai-oil.co.jp/
Representative Director, President
Yukio Tsukahara

Inquiries:

General Manager, General Accounting
Department

Eiichi Nonaka

TEL

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

August 10, 2021–

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

03-6880-3100(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Three months ended June 30, 2021
128,719
36.8
2,169
10.4
2,539
9.0
1,489 (11.5)
Three months ended June 30, 2020
94,080 (48.0)
1,964 (11.0)
2,330(9.1)
1,683 (35.4)
Earnings per share

Diluted earnings per share

Yen
21.59
24.13

Three months ended June 30, 2021
Three months ended June 30, 2020

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
180,432187,245

As of June 30, 2021
As of March 31, 2021

Equity ratio

Millions of yen
107,304
106,468

%
56.8
54.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––Yen
14.00

Yen–

Yen
14.00

Yen
28.00

14.00

–

14.00

28.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Net sales
Full yearMillions of yen
470,000

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
(0.8)
10,00016.4
10,500
5.0
7,500
6.3
108.72

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

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

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2021

71,000,000 shares As of March 31, 2021

71,000,000 shares

Number of treasury shares at the end of the period
As of June 30, 2021

2,015,978 shares As of March 31, 2021

2,015,903 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2021

68,984,041 shares Three months ended June 30, 2020

269,773,631 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of June 30, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

36,737
37,116

31,430–––34,355
100

Merchandise and finished goods
Work in process

5,709
69

5,761
41

Raw materials and supplies
Other91
1,858

87
2,151

Notes and accounts receivable - trade, and contract assets
Securities

Allowance for doubtful accounts

(441)

(443)

81,141

73,48567,88569,286

Accumulated depreciation(46,678)(46,910)

Buildings and structures, net

21,207

22,376

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

Machinery, equipment and vehicles

33,981

33,840

Accumulated depreciation(26,107)(26,171)

7,873

7,669

Land

Machinery, equipment and vehicles, net

19,30318,995

Other
Accumulated depreciation

7,564(4,408)

7,780(4,385)

Other, net

3,155

3,395

51,53952,437

Goodwill
Customer-related assets

1,354
1,272

1,578
1,249

Other

1,490

1,499

Total intangible assets

4,116

4,328

Investment securities
Retirement benefit asset

20,104
3,593

19,820
3,713

Guarantee deposits
Other

25,283
1,565

25,278
1,467

(98)

(98)

Total property, plant and equipment
Intangible assets

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

350,44850,180106,103106,946

187,245

180,432(Millions of yen)
As of March 31, 2021

As of June 30, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade

42,706

36,687

Short-term borrowings
Current portion of long-term borrowings

270
3,129

300
3,180

Income taxes payable
Provision for bonuses

1,743
1,707

506
751

69
0

16
0

Asset retirement obligations
Other94
11,332

94
11,293

Total current liabilities

61,05552,831

Non-current liabilities
Long-term borrowings

Provision for bonuses for directors (and other officers)
Provision for warranties for completed construction

4,764

5,152

Provision for retirement benefits for directors (and otherofficers)

154

156

Provision for special repairs
Retirement benefit liability

170
224

179
220

Asset retirement obligations
Other

592
13,815603
13,983

Total non-current liabilities

19,722

20,29680,777

73,127

Shareholders' equity
Share capital

10,127

10,127

Capital surplus
Retained earnings

4,286
84,6984,305
85,687

Total liabilities
Net assetsTreasury shares(2,287)(2,287)

Total shareholders' equity

96,824

97,831

4,407
(353)

4,434
(353)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

4602

568

4,655

4,649

4,987

4,823

106,468

107,304

187,245

180,432

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)

Net sales
Net sales of goods

Three months ended

Three months ended

June 30, 2020

June 30, 2021
93,067

127,965

Net sales of completed construction contracts

1,013

754

Total net sales

94,080128,719

Cost of goods soldCost of sales of completed construction contracts

81,977925

115,934
659

Total cost of sales

Cost of sales

82,903

116,594

Gross profit

11,177

12,125

Selling, general and administrative expenses

9,212

9,955

Operating profit

1,964

2,169

4155

Dividend income
Light oil delivery tax grant

245
25174
23

Reversal of allowance for doubtful accounts
Other

5133–
194

Total non-operating income

450

448

61

61

022–
16

Non-operating income
Interest income

Non-operating expenses
Interest expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses

84

78

2,330

2,539

24

Gain on sale of investment securities

382

0

Total extraordinary income

384

5

Loss on sale and retirement of non-current assets
Loss on valuation of investment securities

12–67
12

Loss on sale of shares of subsidiaries and associates
Loss on sale of investment securities–3910–

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

Extraordinary losses

Total extraordinary losses

51

90

2,663

2,454

Income taxes - current

468

479

Income taxes - deferred

565

356

Profit before income taxes

Total income taxes

1,033

836

Profit1,629

1,618(54)

128

1,683

1,489

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income

Three months ended

Three months ended

June 30, 2020

June 30, 2021
1,629

1,618

75
1028(34)

85

(5)

1,715

1,612

1,738

1,482

(23)

129

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

6