Consolidated Financial Results
for the Six Months Ended September 30, 2020
[Japanese GAAP]
November 6, 2020
Company name: Honshu Chemical Industry Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 4115
URL: http://www.honshuchemical.co.jp/
Representative: Yuji Fukuyama, President and CEO
Contact: Kazuoki Wada, General Manager of Accounting
Phone: +81-3-3272-1481
Scheduled date of filing quarterly securities report: November 12, 2020
Scheduled date of commencing dividend payments: December 1, 2020
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2020 (April 1, 2020 to
September 30, 2020)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net income
Net sales
Operating income
Ordinary income
attributable toowners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Six Months ended
September 30, 2020
9,704
3.0
1,806 84.2
1,796 88.9
1,088 154.5September 30, 2019
9,421 (4.3)
980 (43.1)
950 (44.4)
427 (58.1)(Note) Comprehensive income: Six Months ended September 30, 2020: ¥ 1,493 million [299.2%]
Six Months ended September 30, 2019: ¥ 374 million [(71.6)%]
Diluted net income
Net income per shareper share
Yen
Yen
Six Months ended
September 30, 2020
94.81－
September 30, 201937.25－(2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Million yen%

As of September 30, 2020
30,49322,471
As of March 31, 2020
29,62921,480(Reference) Equity: As of September 30, 2020: ¥ 20,453 million
As of March 31, 2020: ¥ 19,488 million

67.1
65.8

2. Dividends
Cash dividends per share
4Q
2Q
3Q

1Q
Yen

Yen

Yen

Fiscal year ended
12.00－－
March 31, 2020
Fiscal year ending－
March 31, 2020
Fiscal year ending
March 31, 2021
12.00－(Forecast)(Note) Revision to the dividend forecast announced most recently: No―1―

Total annual
Yen

Yen

20.00

32.00

20.00

32.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021 (April 1, 2020 toMarch 31, 2021)(% indicates changes from the previous corresponding period.)
Net sales
Million yen%

Operating income

Ordinary income

Net income
attributable toowners of parent

Million yen

Million yen

Million yen%%

Full year
20,000 (6.0)
2,500 (17.1)
2,400 (19.5)(Note) Revision to the financial results forecast announced most recently: NoNet Income
per share%Yen

1,350 (22.2)

117.63* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): No
Newly included: No
Excluded: No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2020: 11,500,000 shares
March 31, 2020: 11,500,000 shares2) Total number of treasury shares at the end of the period:
September 30, 2020: 23,154 shares
March 31, 2020: 23,106 shares
3) Average number of shares during the period:
Six Months ended September 30, 2020: 11,476,890 shares
Six Months ended September 30, 2019: 11,476,894 shares* Presentation regarding the implementation status of the audit process
At the time of disclosure of these quarterly financial results, audit procedures for the quarterly financial
statements under the Financial Instruments and Exchange Act had not been completed.
* Explanation for the appropriate use of performance forecasts and other special notes
The performance forecasts and other statements on future events presented in this material are based on
information that was available at the time of preparation of this material and based on certain assumptions
considered to be reasonable. The actual performance, etc. may differ materially from these forecasts due tovarious factors.

―2―

3. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2020

As of September 30, 2020

AssetsCurrent assets
Cash and deposits

8,530

10,597

Accounts receivable - trade

6,154

4,685

Merchandise and finished goods

3,402

3,631

365

258

1,082

1,101

90

122

19,626

20,397

Machinery, equipment and vehicles, net

5,792

5,533

Other, net

3,290

3,669

Total property, plant and equipment

9,082

9,202

Work in process
Raw materials and supplies
Other
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

3632

Investments and other assets

88386010,002

10,09529,62930,493

Total non-current assets
Total assets―3―

(Million yen)
As of March 31, 2020

As of September 30, 2020

Liabilities
Current liabilities
Accounts payable - trade

2,174

1,699

Short-term loans payable

1,000

1,000

Income taxes payable

407

440

Provision for directors' bonuses

37

15

Accounts payable - facilities

339

707

Other

1,233

1,223

Total current liabilities

5,192

5,085

2,188

2,210

766

724

2,955

2,935

8,148

8,021

Capital stock

1,500

1,500

Capital surplus

1,013

1,013

Retained earnings

17,13917,998Treasury shares(14)(14)

19,63820,497

Foreign currency translation adjustment

(89)

(4)

Remeasurements of defined benefit plans

(60)

(39)

Non-current liabilities
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income

(150)

(43)

Non-controlling interests

Total accumulated other comprehensive income

1,991

2,017

Total net assets

21,48022,471

29,62930,493

Total liabilities and net assets―4―(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the Six Months
ended September 30, 2019
9,421

(Million yen)
For the Six Months
ended September 30, 2020
9,704

Cost of sales

7,329

6,763

Gross profit

2,092

2,940

Selling, general and administrative expenses

1,111

1,134

Operating income

980

1,806

00

Dividend income

310

Gain on sales of securities

36－

Foreign exchange gains－

9

Insurance income－

5

Other

3

1

Total non-operating income

4326

Interest expenses

1816

Removal cost

36

17

Other172

Net sales

Non-operating income
Interest income

Non-operating expenses

7236

Ordinary income

Total non-operating expenses

950

1,796

Net income before income taxes

950

1,796

Income taxes

306

479

Net income

644

1,316

Net income attributable to non-controlling interests

217

228

Net income attributable to owners of parent

427

1,088

―5―

Quarterly Consolidated Statements of Comprehensive Income

Net income

For the Six Months
ended September 30, 2019

(Million yen)
For the Six Months
ended September 30, 2020

644

1,316

Other comprehensive income
Valuation difference on available-for-sale securities(45)－Foreign currency translation adjustment

(236)

155

1121(270)

176

374

1,493

Comprehensive income attributable to owners of parent

263

1,194

Comprehensive income attributable to non-controlling interests

110298Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to―6―