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 Non-Consolidated Financial Results
for the Three Months Ended March 31, 2021
(Based on Japanese GAAP)May 14, 2021
Company name:AIRTECH JAPAN,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

6291
President

URL

https://www.airtech.co.jp
Shinya Hirasawa

Inquiries:
Vice President
Scheduled date to file Quarterly Securities Report:

Naoki Watanabe
May 14, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

03(3872)9192(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the three months ended March 31, 2021 (from January 1, 2021 to March 31, 2021)(1) Non-consolidated operating results (cumulative)

Percentages indicate year-on-year changes

Net sales
Three months ended March 31, 2021
Three months ended March 31, 2020

Operating profit

Ordinary profit

ProfitMillions of yen% Millions of yen% Millions of yen% Millions of yen%
5,319 115.5
1,184 784.0
1,205 850.7
837 814.0
2,468
(8.9)
134
32.0
126
20.6
91
28.2
Earnings per share

Diluted earnings per share

Yen
81.07
10.20

Three months ended March 31, 2021
Three months ended March 31, 2020

Yen
80.67
10.07

(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
20,141
18,829As of March 31, 2021
As of December 31, 2020

Equity ratio

Millions of yen
12,671
12,164

Net assets per share
%
62.7
64.4

Yen
1,223.34
1,174.55

2. Cash dividends
Annual dividends per share

Year ended December 31, 2020
Year ending December 31, 2021

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
33.00

Yen
33.00

0.00

–

25.00

25.00

Year ending December 31, 2021 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
12,000Operating profit% Millions of yen
(3.9)
1,500

Ordinary profit% Millions of yen
6.0
1,650

1Profit% Millions of yen
5.6
1,144

Earnings per share%
0.7

Yen
110.75

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021

10,406,500 shares As of December 31, 2020

10,403,500 shares

Number of treasury shares at the end of the period
As of March 31, 2021

75,699 shares As of December 31, 2020

75,699 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)Three months ended March 31, 2021

10,329,423 shares Three months ended March 31, 2020

28,986,164 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of December 31, 2020

As of March 31, 2021

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

6,520,039
4,748,840

6,380,900
6,103,223

Electronically recorded monetary claims - operating
Securities

1,206,374
452

1,275,116
483

Merchandise and finished goods
Work in process

840,165
870,751

728,955
860,716

Raw materials and supplies
Other

387,41324,505

383,015
9,928

Allowance for doubtful accounts(8,947)(13,052)

14,589,596

15,729,286

2,055,014

2,057,914

Other

1,509,743

1,616,865

Total property, plant and equipment

3,564,757

3,674,779

Intangible assets

115,026

107,430

Investments and other assets
Other

587,002653,470(26,824)(23,800)

Total current assets
Non-current assets
Property, plant and equipment
Land

Allowance for doubtful accounts
Total investments and other assets

560,177

629,670

4,239,962

4,411,88018,829,558

20,141,167

1,320,088
2,327,072

1,739,394
2,509,128

Short-term borrowings
Current portion of long-term borrowings

300,000
44,268300,000
44,268

Income taxes payable
Provision for product warranties

407,141
51,242458,61753,965

Provision for bonuses
Provision for loss on order received

108,5224,109

306,918
11,991Other

1,116,346

1,079,788

Total current liabilities

5,678,790

6,504,070

Bonds payable
Long-term borrowings

100,000
163,035

100,000
151,968

Provision for retirement benefits
Other

701,519
21,672690,95722,765

Total non-current liabilities

986,227

965,690

6,665,018

7,469,761

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

Non-current liabilities

Total liabilities3

(Thousands of yen)
As of December 31, 2020

As of March 31, 2021

Net assets
Shareholders' equity
Share capital

2,056,919

2,058,525

Capital surplus
Retained earnings

2,098,251
8,014,697

2,099,856
8,511,329

Treasury shares(49,841)(49,841)

12,120,026

12,619,869

Valuation difference on available-for-sale securities

10,453

18,221

Total valuation and translation adjustments

10,453

18,221

34,06033,314

12,164,540

12,671,405

18,829,558

20,141,167

Total shareholders' equity
Valuation and translation adjustments

Share acquisition rights
Total net assets
Total liabilities and net assets

4Non-consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

March 31, 2020

March 31, 2021

Net sales
Cost of sales

2,468,648
1,925,442

5,319,285
3,521,352

Gross profit

543,205

1,797,933

Selling, general and administrative expenses
Freight and packing costs

83,053

221,490

Remuneration for directors (and other officers)
Salaries

25,460129,635

21,606
137,077

Provision of allowance for doubtful accounts
Provision for bonuses(15,216)
42,705

1,079
54,980Retirement benefit expenses
Provision for product warranties

8,546(1,338)

8,275
2,723

Other

136,351

166,091

Total selling, general and administrative expenses

409,197

613,325

134,007

1,184,607

257

40275
–229
17,431

Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other

4,125

4,056

Total non-operating income

4,658

21,757

Interest expenses
Past year consumption tax

613
175

682
519

Foreign exchange losses
Share issuance costs

2,383
8,729

–
–

Non-operating expenses

Other–

34

11,902

1,236

Ordinary profit

126,763

1,205,128

Profit before income taxes

126,763

1,205,128

Income taxes - current
Income taxes - deferred

89,342(54,199)424,788(57,109)

Total income taxes

35,142367,679

Profit91,620837,449

Total non-operating expenses5