Consolidated Financial Results
for the Second Quarter of the Fiscal Year 2020
Ending March 31, 2021
[Japanese GAAP]
November 6, 2020

Company name: JAMCO Corporation
Stock exchange listing: Tokyo Stock Exchange
Stock Exchange Code: 7408
URL: https://www.jamco.co.jp/
Representative: Harutoshi Okita, President & CEO
Contact: Kentaro Goto, Director & Managing Executive Officer
Phone: +81-42-503-9145
The date of filing quarterly securities report: November 9, 2020
The start date of payout of dividend: —Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes (for institutional investors)(Amounts are rounded down to the nearest million yen.)
1. Consolidated Operating Results for the Second Quarter of the Fiscal Year 2020 (from April 1, 2020 to
September 30, 2020)(1) Consolidated Operating Results(%: Changes from the previous corresponding period)
Net sales

Operating income

Net income attributable
to shareholders ofparent company

Ordinary income

For the second
Million yen%
Million yen%
Million yen%
quarter of
Fiscal year 2020
25,860(36.2)(4,591)(5,409)Fiscal year 201940,5540.5
784(63.6)
384(84.0)(Note) Comprehensive income: The second quarter of fiscal year 2020: ¥(4,396) million [-%]The second quarter of fiscal year 2019: ¥(108) million [-%]For the second
quarter of
Fiscal year 2020
Fiscal year 2019

Net income per share

Diluted net income
per share

Yen

Yen

(160.10)2.73-(2) Consolidated Financial Position
Total assets
Million yen

Net assets

Equity ratio

Million yen%

112,931
25,433As of September 30, 2020
As of March 31, 2020
120,184
30,373(Reference) Equity: As of September 30, 2020: ¥24,981 million
As of March 31, 2020: ¥29,844 million

22.1
24.8

Million yen%(4,294)73(94.9)

2. Dividend distribution
Dividend distribution per share
1stquarter-end

2ndquarter-end
Yen

3rd
quarter-end
Yen

Year-end
Yen

Fiscal year 2019
0.00
Fiscal year 2020
0.00
Fiscal year 2020
(Planned)(Note) Revision to the plan of dividend distribution announced most recently: Yes

Total
Yen

Yen

20.00

20.00

0.00

0.00

For details, please refer to “Notice of the Full Year Consolidated Financial Results Forecast and Plan of Dividend
Distribution (No Dividend)” announced today.
3. Consolidated Financial Results Forecast for the Fiscal Year 2020 (from April 1, 2020 to March 31, 2021)(%: Changes from the previous fiscal year)
Net income
attributable to
Net income
Net sales
Operating income
Ordinary income
shareholders ofper share
parent company
Million yen% Million yen% Million yen%

Million yen

Full year
58,400 (36.2)(10,200)- (11,100)(8,800)(Note) Revision to the forecast of consolidated financial results announced most recently: Yes

%

Yen

-

(328.05)

For details, please refer to “Notice of the Full Year Consolidated Financial Results Forecast and Plan of Dividend
Distribution (No Dividend)” announced today.
* Notes:(1) Changes in significant subsidiaries during this quarter of the fiscal year 2020: None
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(4) Number of common shares issued
1) Number of common shares outstanding (including the number of treasury stock):
As of September 30, 2020: 26,863,974 shares
As of March 31, 2020: 26,863,974 shares
2) Number of treasury stock:
As of September 30, 2020: 38,932 shares
As of March 31, 2020: 38,932 shares
3) Average number of common shares outstanding:
2nd quarter of FY 2020: 26,825,042 shares
2nd quarter of FY 2019: 26,825,099 shares

*Notes:*1. This document is an English translation of a statement written initially in Japanese. The Japanese original
document should be considered as the primary version.
*2. These quarterly financial results are outside the scope of quarterly review by certified public accountants or audit
firms.
*3. Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other statements herein are based on information currently available to the Company
and certain premises that the Company deems to be reasonable. Actual results may differ significantly from these
forecasts due to a wide range of factors.
The Company intends to hold a briefing session for institutional investors on November 24, 2020. The materials
distributed at the briefing session are scheduled to be posted on the Company’s corporate website.

Table of Contents
1. Qualitative Information on Quarterly Financial Results for the Period under Review ......................... 2(1) Explanation of Operating Results...................................................................................................... 2(2) Explanation of Financial Position ..................................................................................................... 5(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information . 5
2. Quarterly Consolidated Financial Statements and Primary Notes......................................................... 7(1) Quarterly Consolidated Balance Sheets ............................................................................................ 7(2) Quarterly Consolidated Statements of Income and Comprehensive Income .................................... 9
Quarterly Consolidated Statements of Income.................................................................................. 9
Quarterly Consolidated Statements of Comprehensive Income...................................................... 10(3) Quarterly Consolidated Statements of Cash Flows ......................................................................... 11(4) Notes to Quarterly Consolidated Financial Statements ................................................................... 12(Notes on going concern assumption) ........................................................................................ 12(Notes in the case of significant changes in shareholders’ equity) ............................................. 12(Additional information) ............................................................................................................ 12(Quarterly Consolidated Statements of Income) ........................................................................ 12(Segment information, etc.) ........................................................................................................ 13

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the second quarter of FY 2020, economies around the world were severely impacted as corporate
activities were drastically restricted due to the global spread of COVID-19. Although the number of people withserious condition and deaths has been under control due to the subsequent expansion of medical and testing
systems, mainly in developed countries, the movement of people has been slow globally and economic recovery
remains challenging. Under these circumstances, the dollar-yen exchange rate moved within the range of ¥104
to ¥109 per US$1.
In the air transportation industry, the business environment has deteriorated significantly due to unprecedented
flight reductions and cancellations as a result of the global COVID-19 pandemic, and airlines have been forced
to reduce their workforce drastically. While flights are slowly resuming along with the resumption of economic
activities with various COVID-19 countermeasures taken by airlines, the situation remains challenging. As foraircraft manufacturers too, both Boeing and Airbus are substantially reducing production due to the sharp decline
in demand for air transportation.
Under this situation, in which the end of the infection remains unclear, the Group has promoted businessprocess reforms and measures to enhance the efficiency of its production system on a company-wide level in
preparation for a future recovery in demand for air transportation, aiming to improve quality and profitability,
while striving to reduce cost through reduction in workforce, limiting investment, and working to reorganize
production bases, under the assumption that the current harsh business environment will continue for some time.
In addition, we thoroughly enforced COVID-19 countermeasures, while working to reduce physical contact
between our employees by adopting remote work, shift work and the dispersion of work areas at the workplace,and flexibly responded to the sudden drop in workload through measures such as temporary leave of employees.
In the aircraft interiors business and the aircraft seat business, we carried out an urgent review of the
production plan and reorganized production bases, in response to the sudden drop in air transportation demand.
We also worked to develop products to ensure a clean and hygienic cabin in order to relieve the anxiety felt bypassengers onboard.
The amount of orders received decreased significantly compared to the same period of the previous fiscal year
due to drastic production cuts by aircraft manufacturers as a result of a sharp drop in air transportation demandand partial postponement and cancellation of orders from airlines.
In the aircraft components business, we took initiatives to improve productivity, while proceeding with inhouse production of interiors-related and other parts by applying the processing technologies we haveaccumulated over the years. We are also proceeding with the development of lightweight aircraft components
using thermoplastic CFRP.
In the aircraft maintenance business, we aimed to establish a business base capable of generating stable profits
by continuing with initiatives to ensure flight safety and enhance quality, while also endeavoring to acquire orders
for aircraft maintenance for airlines and government and municipal offices.
As a result, on a consolidated basis, during the second quarter of FY 2020, the Company posted net sales of¥25,860 million (down ¥14,694 million compared to the same period of the previous fiscal year), operating lossof ¥4,591 million (an operating income of ¥784 million in the same period of the previous fiscal year), ordinary
loss of ¥5,409 million (an ordinary income of ¥384 million in the same period of the previous fiscal year), andnet loss attributable to shareholders of parent company of ¥4,294 million (a net income attributable toshareholders of parent company of ¥73 million in the same period of the previous fiscal year).
Provision for loss on construction contracts of ¥4,728 million for construction to be completed in or after thequarterly third quarter of FY 2020 was recognized as of September 30, 2020. The impact of this provision forloss on construction contracts on income (loss) for the quarterly second quarter of FY 2020 was an increase of¥921 million in cost of sales (provision for loss on construction contracts as of June 30, 2020 was ¥3,806 million)
and, for the cumulative second quarter of FY 2020, an increase of ¥1,120 million in cost of sales (provision forloss on construction contracts at the end of the previous fiscal year was ¥3,607 million).

2

Selling, general and administrative expenses, non-operating income (expenses), and extraordinary income(loss) are as follows:
Selling, general and administrative expenses were ¥3,326 million (a decrease of ¥551 million compared tothe same period of the previous fiscal year), due mainly to decreases in warranty expenses, experimentation andresearch expenses, personnel expenses, and sales commissions.
In terms of non-operating income (expenses), an expense of ¥818 million was reported due mainly to a
deterioration in foreign exchange gains (losses) resulting from the appreciation of the yen in the foreign exchange
market from the end of the previous fiscal year and an increase in compensation expenses (an expense of ¥400
million in the same period of the previous fiscal year).
As for extraordinary income (loss), although subsidy income, such as subsidies for employment adjustment
due to the temporary leave of employees, of ¥418 million was recognized, a loss of ¥640 million was reported
due mainly to recognizing loss of ¥1,033 million related to COVID-19, which consists of running costs including
fixed costs resulting from the temporary leave of employees (a loss of ¥256 million in the same period of theprevious fiscal year).

3

Business performance by segment is as follows.
[Aircraft Interiors Business]
In the aircraft interiors business, net sales decreased from the same period of the previous fiscal year, as salesof cabin retrofit kits and spare parts for airlines decreased due to a decrease in aircraft operations, in addition toa decrease in shipments of galleys and lavatories, as a result of aircraft manufacturers being forced to reduce
production and change production schedules due to the impact of the spread of COVID-19. Meanwhile, anordinary loss was reported due mainly to the decrease in net sales.
As a result, the aircraft interiors business posted net sales of ¥17,928 million (down ¥9,138 million comparedto the same period of the previous fiscal year) and ordinary loss of ¥3,455 million (ordinary income of ¥955
million in the same period of the previous fiscal year).
[Aircraft Seat Business]
In the aircraft seat business, net sales decreased from the same period of the previous fiscal year due to changes
to the delivery dates and some cancellations by customers as a result of the impact of the spread of COVID-19.
Meanwhile, an ordinary loss was reported due mainly to a decrease in net sales and an increase in costs, including
an increase in provision for loss on construction contracts for custom-made products.
As a result, the aircraft seat business posted net sales of ¥3,652 million (down ¥3,585 million compared to thesame period of the previous fiscal year) and ordinary loss of ¥1,791 million (ordinary loss of ¥728 million in thesame period of the previous fiscal year).
[Aircraft Components Business]
In the aircraft components business, despite robust shipments of heat exchangers and other equipment mainly
related to defense contracts, net sales decreased from the same period of the previous fiscal year, due to a decreasein shipments of CFRP structure parts and aircraft engine parts for commercial aircraft products, resulting fromaircraft manufacturers being forced to reduce production and change production schedules as a result of the
impact of the spread of COVID-19. Meanwhile, an ordinary loss was reported due mainly to the decrease in net
sales.
As a result, the aircraft components business posted net sales of ¥1,731 million (down ¥927 million comparedto the same period of the previous fiscal year) and ordinary loss of ¥102 million (ordinary loss of ¥124 million
in the same period of the previous fiscal year).
[Aircraft Maintenance Business]
In the aircraft maintenance business, net sales decreased from the same period of the previous fiscal year
reflecting a decline in the number of shipments of some programs compared to the favorable increase in aircraft
maintenance during the same period of the previous fiscal year, as well as a decrease in orders received fromairlines for wheels, brakes, and other items in equipment maintenance due to the impact of the spread of COVID19. Meanwhile, an ordinary loss was reported due mainly to the decrease in net sales.
As a result, the aircraft maintenance business posted net sales of ¥2,547 million (down ¥1,042 million
compared to the same period of the previous fiscal year) and ordinary loss of ¥60 million (ordinary income of¥283 million in the same period of the previous fiscal year).
[Others]
The Others segment includes the businesses of the consolidated subsidiary Orange JAMCO Corporation, andwe were able to make steady progress mainly in inter-segment transactions, including assistance work in theaircraft interiors business.
As a result, the Others segment posted net sales of ¥0 million (down ¥0 million compared to the same periodof the previous fiscal year) and ordinary income of ¥0 million (ordinary loss of ¥1 million in the same period of
the previous fiscal year).

4(2) Explanation of Financial Position[Assets, liabilities and net assets]
Total assets as of September 30, 2020 amounted to ¥112,931 million, down ¥7,253 million from the end of
the previous fiscal year. Of such, total current assets decreased by ¥8,281 million from the end of the previous
fiscal year, due mainly to a decrease in notes and accounts receivable – trade (down ¥10,045 million comparedto the end of the previous fiscal year), and a decrease in cash and deposits (down ¥1,551 million compared to theend of the previous fiscal year), despite an increase in raw materials and supplies (up ¥3,609 million comparedto the end of the previous fiscal year). Total non-current assets increased by ¥1,028 million from the end of theprevious fiscal year due to an increase in investments and other assets (up ¥1,693 million compared to the end of
the previous fiscal year), despite a decrease in property, plant and equipment (down ¥557 million compared tothe end of the previous fiscal year) and a decrease in intangible assets (down ¥107 million compared to the endof the previous fiscal year) as a result of relatively limited investment for the second quarter of FY 2020.
Total liabilities amounted to ¥87,497 million, down ¥2,313 million from the end of the previous fiscal year.
This was attributable primarily to a decrease in notes and accounts payable – trade (down ¥4,557 million
compared to the end of the previous fiscal year), a decrease in electronically recorded obligations – operating(down ¥2,715 million compared to the end of the previous fiscal year), a decrease in advances received (down¥1,611 million compared to the end of the previous fiscal year), and a decrease in accrued expense–salary (down¥585 million compared to the end of the previous fiscal year), which offset the increase in short-term loans
payable (up ¥7,600 million compared to the end of the previous fiscal year).
Total net assets amounted to ¥25,433 million, down ¥4,939 million from the end of the previous fiscal year.
This was due primarily to a decrease in retained earnings (down ¥4,831 million compared to the end of theprevious fiscal year) as a result of reporting a net loss attributable to shareholders of parent company, cash
dividend payment, and other factors. As a result, the equity ratio stood at 22.1%.
[Cash flows]
During the second quarter of FY 2020, cash and cash equivalents on a consolidated basis amounted to a cash
outflow of ¥1,456 million, as a result of the cash flows described below.
(Cash flows from operating activities)
During the second quarter of FY 2020, net cash used in operating activities amounted to a cash outflow of¥7,809 million. This was due to recognizing loss before taxes, a decrease in notes and accounts payable – trade,
and an increase in inventories, despite a decrease in notes and accounts receivable – trade.
(Cash flows from investing activities)
During the second quarter of FY 2020, net cash used in investing activities amounted to a cash outflow of¥728 million due mainly to outflows from the purchase of property, plant and equipment.
(Cash flows from financing activities)
During the second quarter of FY 2020, net cash provided by financing activities amounted to a cash inflow of¥7,219 million. This was due mainly to loans payable from financial institutions.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
Although the consolidated financial results forecast for FY 2020 had not been determined due to the difficultyin rationally estimating the impact of the spread of COVID-19, we have decided to announce the consolidated
financial results forecast for FY 2020 today, based on recent economic trends and information and forecasts
currently available.
It remains unclear when COVID-19 will come to an end at this time. In the air transportation industry in which
the Group is involved, following the sharp decline in passenger demand mainly as a result of the spread of
COVID-19, the global business environment for airlines has deteriorated significantly. Also, the steep decline indemand for air transportation has forced aircraft manufacturers to substantially reduce production.
Under these circumstances, the Group has promoted business process reforms and measures to enhance theefficiency of its production system on a company-wide level in preparation for a future recovery in demand for5air transportation, aiming to improve quality and profitability, while striving to reduce cost through reduction in
workforce, limiting investment, and working to reorganize production bases, under the assumption that thecurrent harsh business environment will continue for some time.
We are also working to develop products for COVID-19 countermeasures, including hands-free door handles
for lavatories that allow users to return to their seats while keeping their washed hands clean, so that passengers
can use them safely.
The exchange rate assumed for the abovementioned consolidated financial results forecast is ¥105 per US$1.
The abovementioned consolidated financial results forecast for FY 2020 has been based on currently available
information, and actual results may differ from the forecast due to various factors in the future.

The Company’s basic policy for dividends to shareholders is to provide stable and continuous returns toshareholders by striving for efficient management and improving profits, and to determine the amount ofdividends with a target consolidated payout ratio of 20-30% as for the immediate future. However, the Group’s
results have deteriorated significantly due to the spread of COVID-19, and we regret to inform shareholders that
we will not pay any dividends for this fiscal year. We would like to express our sincere apologies and ask ourshareholders for their continued support as we will try to resume dividend payments as soon as practicallypossible.

6

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Advances received
Accrued expense-salary
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Liability for employee retirement benefits
Provision for loss on compensation
Other
Total non-current liabilities
Total liabilities

7

As of September 30, 2020

8,690,990
31,898,770
1,422,398
30,328,978
20,500,595
4,899,335(8,504)
97,732,564

7,139,360
21,853,345
3,261,687
29,247,214
24,110,008
3,878,661(39,107)89,451,169

13,766,040
1,999,120
6,686,819
22,451,980
120,184,545

13,208,243
1,891,695
8,380,402
23,480,341
112,931,510

11,394,529
9,551,128
36,386,966
1,200,000
302,2088,644,784
1,642,946
3,607,749
4,219,469
76,949,782

6,837,090
6,835,172
43,987,817
1,700,000
72,848
7,033,170
1,057,651
4,728,140
2,991,266
75,243,157

3,500,000
7,282,672
987,196
1,091,394
12,861,263
89,811,045

3,000,000
7,354,428
976,910923,342
12,254,681
87,497,838

(Thousand yen)
As of March 31, 2020
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Accumulated adjustment for employee retirement
benefits
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

8

As of September 30, 2020

5,359,893
4,309,484
20,483,085(31,175)
30,121,288

5,359,893
4,327,400
15,651,868(31,175)
25,307,987

104,663(41,674)

113,899(128,669)(339,306)(311,858)(276,318)
528,529
30,373,500
120,184,545(326,628)
452,31225,433,672
112,931,510

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Second Quarter of the Fiscal Year (from April 1 to September 30)(Thousand yen)
The second quarter of FY 2019
Net sales
Cost of sales
Gross profit (loss)
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodInsurance income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Compensation expenses
Other
Total non-operating expenses
Ordinary income (loss)
Extraordinary income
Subsidy income
Total extraordinary income
Extraordinary loss
Loss on disposal of non-current assets
Loss on disaster
Loss related to quality
Loss related to COVID-19
Total extraordinary loss
Income (loss) before taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Net income (loss)
Net income (loss) attributable to non-controllingshareholders
Net income (loss) attributable to shareholders of parent
company

9

The second quarter of FY 2020

40,554,735
35,891,354
4,663,381
3,878,864
784,516

25,860,226
27,124,700(1,264,473)
3,326,898(4,591,371)

24,545
4,182

8,834
1,049

2,868

7,934

27,39867,94029,705
156,640

66,622
20,78546,243
151,470

206,447
193,256
56,950100,423
557,077
384,080

209,378
466,185
215,494
78,789969,848(5,409,749)-

418,023
418,023

13,32912,440230,663
256,433
127,646
63,893(42,870)
21,022
106,623

25,245
1,033,493
1,058,739(6,050,464)
5,255(1,723,667)(1,718,412)(4,332,052)

33,386(37,336)

73,236(4,294,715)

Quarterly Consolidated Statements of Comprehensive Income
Second Quarter of the Fiscal Year (from April 1 to September 30)(Thousand yen)
The second quarter of FY 2019 The second quarter of FY 2020
Net income (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Adjustment for employee retirement benefits
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to shareholders ofparent company
Comprehensive income attributable to non-controllinginterests

10

106,623(4,332,052)(32,985)(4,471)(192,645)
15,268(214,834)(108,210)

9,236(101,293)
27,448(64,609)(4,396,661)(122,162)(4,345,026)

13,952(51,635)

(3) Quarterly Consolidated Statements of Cash Flows
Second Quarter of the Fiscal Year (from April 1 to September 30)(Thousand yen)
The second quarter of FY 2019 The second quarter of FY 2020
Cash flows from operating activities
Income (loss) before taxes
Depreciation
Increase (decrease) in liability for employee retirement
benefits
Increase (decrease) in provisions
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Loss related to COVID-19
Subsidy income
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in advances received
Decrease/increase in consumption taxes
receivable/payable
Other
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investment securities
Collection of loans receivable
Decrease (increase) in time deposits
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Increase in short-term loans payable
Decrease in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Repayments of lease obligations
Purchase of treasury stock
Cash dividends paid
Cash dividends paid to non-controlling shareholders
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period

11

127,646
1,307,280(6,050,464)
1,205,160(39,790)

32,336

18,362(28,728)
206,447(112,159)

555,891(9,883)
209,378(118,505)(2,868)(7,934)-

1,033,493(418,023)(2,796,311)

9,956,648(5,097,796)(4,495,480)

1,318,418(7,244,681)(423,239)(1,504,024)(33,962)(336,274)(993,167)(6,549,868)
28,728(210,244)(1,301,621)(8,033,004)(283,154)(7,475,519)
9,883(192,171)(151,407)(7,809,214)(1,019,545)
3,315
(498)
1,220
108,630(319,942)(1,226,820)(544,865)
780
(405)
1,078
53,460(238,054)(728,006)

35,921,928(27,402,716)
400,000(700,000)(151,635)(207)(535,658)(24,680)
7,507,030

31,624,614(23,647,007)(194,742)(538,877)(24,580)
7,219,405(40,468)(138,630)(1,793,263)
4,046,170
2,252,906(1,456,445)
7,167,370
5,710,925

(4) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Notes in the case of significant changes in shareholders’ equity)
There is no relevant information.
(Additional information)
The second quarter of FY 2020
(from April 1, 2020 to September 30, 2020)
The Group makes accounting estimates for items including impairment loss on non-current assets
and recoverability of deferred tax assets, based on information available at the time of preparation of
the quarterly consolidated financial statements.
We have revised our assumptions, including the timing of the end of COVID-19, that were includedin “(Additional information) Accounting estimates of the impact of the spread of COVID-19” in our
securities report for the previous fiscal year, taking into account the current status of the spread of
COVID-19 through the second quarter of FY 2020.
As a result, decline in passenger demand due to the impact of the spread of COVID-19 is expected
to continue for a certain period in FY 2020, after which demand is expected to recover gradually.
Although the effect and degree of impact of the spread of COVID-19 on the Group’s business willvary by business and region, we make accounting estimates based on certain assumptions over multiple
years.
(Quarterly Consolidated Statements of Income)¥418,023 thousand in subsidy income, such as subsidies for employment adjustment due to the temporary leaveof employees, has been recognized under extraordinary income.
Additionally, ¥1,033,493 thousand in loss related to COVID-19 has been recognized under extraordinary loss forrunning costs including fixed costs resulting from the temporary leave of employees, as operations significantly
declined due to the global spread of COVID-19 and a declaration of a state of emergency issued by the government.

12

(Segment information, etc.)[Segment information]
I. For the second quarter of FY 2019
1. Information on net sales and income (loss) by reportable segment(Thousand yen)
Aircraft
Interiors
Business
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment income (loss)

Reportable segment
Aircraft
Aircraft
Aircraft Seat
Components MaintenanceBusiness
Business
Business

Total

Others(Note)

Total

27,066,707

7,238,872

2,658,885

3,590,240

40,554,706

29

40,554,735

279,727

85,95924,22238,509428,419

54,791

483,210

27,346,434
955,121

7,324,832(728,197)

2,683,108(124,659)

3,628,750
283,616

40,983,126
385,881

54,820(1,801)

41,037,946
384,080(Note) The Others segment includes the businesses of affiliate Orange JAMCO Corporation. Orange JAMCO
Corporation is a special-purpose subsidiary, dedicated to promoting the employment of people withdisabilities and provides assistance work in the Company’s factories, which is one of the corporate social
responsibilities.
2. Differences between the total amount of income (loss) of reportable segments and the amounts in the Quarterly
Consolidated Statement of Income and the major details of such differences(Matters relating to adjustment of differences)(Thousand yen)
IncomeReportable segments total
Income of Others
Ordinary income in the Quarterly Consolidated Statement of
IncomeAmount3. Information on impairment loss on non-current assets and goodwill by reportable segment
There is no relevant information.

13

385,881(1,801)
384,080

II. For the second quarter of FY 2020
1. Information on net sales and income (loss) by reportable segment(Thousand yen)
Aircraft
Interiors
Business
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment income (loss)

Reportable segment
Aircraft
Aircraft
Aircraft Seat
Components MaintenanceBusiness
Business
Business

Total

Others(Note)

Total

17,928,421

3,652,993

1,731,255

2,547,555

25,860,226-

25,860,226

209,067

72,874

1,146

10,629293,719

54,212347,932

18,137,489(3,455,749)

3,725,868(1,791,572)

1,732,402(102,585)

2,558,185(60,814)

26,153,945(5,410,721)

54,212972

26,208,158(5,409,749)(Note) The Others segment includes the businesses of affiliate Orange JAMCO Corporation. Orange JAMCO
Corporation is a special-purpose subsidiary, dedicated to promoting the employment of people withdisabilities and provides assistance work in the Company’s factories, which is one of the corporate social
responsibilities.
2. Differences between the total amount of income (loss) of reportable segments and the amounts in the Quarterly
Consolidated Statement of Income and the major details of such differences(Matters relating to adjustment of differences)(Thousand yen)
IncomeAmountReportable segments total
Income of Others
Ordinary income in the Quarterly Consolidated Statement of
Income3. Information on impairment loss on non-current assets and goodwill by reportable segment
There is no relevant information.

14(5,410,721)
972(5,409,749)