Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any
discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Fiscal Year Ended December 31, 2021[Japanese GAAP]
February 14, 2022
Company name:
SAKATA INX CORPORATION
Stock exchange listing: Tokyo
Code number:
4633
URL:
http://www.inx.co.jp/
Representative:
Yoshiaki Ueno
Representative Director, President & CEOContact:
Daisuke Sugahara
General Manager, Finance & Accounting Div.
Phone:+81-6-6447-5823
Scheduled date of Annual General Meeting of Shareholders:March 29, 2022
Scheduled date of commencing dividend payments:
March 30, 2022
Scheduled date of filing annual securities report:
March 29, 2022
Availability of supplementary briefing material on annual financial results:
Yes
Schedule of annual financial results briefing session:
Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2021 (January 1, 2021 to December 31, 2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
December 31, 2021
December 31, 2020

Operating income

Net income attributableto owners of parent

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen%

181,487
161,507

12.4
(3.4)

7,414
7,212

2.8
15.9

8,506
7,789

9.2
6.4

4,933
5,275

(6.5)
28.2

(Note) Comprehensive income:Fiscal year ended December 31, 2021:
Fiscal year ended December 31, 2020:¥¥

12,829million
1,839million[[597.4%](65.5)%]

Basic earnings
per share

Diluted earnings
per share

Yen

Yen%%%

84.43
90.32

-6.1
6.9

5.5
5.3

4.1
4.5

Fiscal year ended
December 31, 2021
December 31, 2020

(Note) Equity in earnings of affiliates:

Rate of return on Ordinary income to Operating income
equitytotal assets ratio to net sales ratio

Fiscal year ended December 31, 2021:
Fiscal year ended December 31, 2020:¥¥

992million
314million(2) Consolidated Financial Position
Total assets
As ofDecember 31, 2021
December 31, 2020

Net assets

Net assets per shareMillion yen

Million yen%

Yen

166,899
145,272

92,46581,42151.8
52.6

1,478.18
1,307.13(Note) Equity: As of December 31, 2021:
As of December 31, 2020:(3) Consolidated Cash Flows¥¥

Cash flows fromoperating activities
Fiscal year ended
December 31, 2021
December 31, 2020

Equity ratio

86,379million
76,360million
Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen

7,556
10,599(5,352)(7,010)(2,875)(980)

12,115
11,678

2. Dividends
1stquarterend
Fiscal year ended
December 31, 2020
December 31, 2021
Fiscal year ending
December 31, 2022(Forecast)

Annual dividends
2nd
3rdquarter- quarter- Year-end
end
end

Total

Yen

Yen

Yen

Yen

-

15.00
15.00

-

15.00
15.00

30.00
30.00

-

15.00

-

15.00

30.00

Total
dividends

Payoutratio(consolidated)

Yen Million yen

1,752
1,752

Dividends
to netassets(consolidated)

%%

33.2
35.5

2.3
2.2

30.8

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2022 (January 1, 2022 to December
31, 2022)(% indicates changes from the previous corresponding period.)
OperatingincomeNet sales
Million yen

Six months ended June 30, 2022 96,800
Full year
198,000% Million yen

9.2
9.1

Net income
Basic earnings
attributable toper shareowners of parent

Ordinary
income% Million yen

2,700 (46.5)
7,000 (5.6)%

3,350 (42.8)
8,300 (2.4)

Million yen%Yen

2,200 (45.5)
5,700 15.5

37.64
97.52

* Notes:(1) Changes in significant subsidiaries during the period under review(changes in specified subsidiaries resulting in changes in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards:
2) Changes in accounting policies other than 1) above:3) Changes in accounting estimates:
4) Retrospective restatement:

NoNo
Yes
No

(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2021:
62,601,161shares
December 31, 2020:
62,601,161shares2) Total number of treasury shares at the end of the period:
December 31, 2021:
4,164,408shares
December 31, 2020:
4,182,625shares
3) Average number of shares during the period:
Fiscal Year ended December 31, 2021:
Fiscal Year ended December 31, 2020:

58,431,152shares
58,412,754shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2021 (January 1, 2021 to December 31,2021)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
December 31, 2021
December 31, 2020

Operating income

Ordinary income

Net income

Million yen%

Million yen%

Million yen%

Million yen%

65,93861,201

7.7
(6.6)

1,708
761

124.4
(32.9)

4,304
2,852

50.9
(14.3)

3,382
2,752

22.9
2.1

Basic earnings
per share
Fiscal year ended
December 31, 2021
December 31, 2020

Diluted earnings
per share
Yen

Yen

57.89
47.12

-

(2) Non-consolidated Financial Position
Total assets
As ofDecember 31, 2021
December 31, 2020

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

97,19692,24458,51756,53060.2
61.3

1,001.39
967.68(Note) Equity: As of December 31, 2021:
As of December 31, 2020:¥¥

58,517million
56,530million*This consolidated financial results are not subject to audit procedures by Certified Public Accountants or audit firm.
*Explanation of appropriate use of financial forecasts and other special notes
The above financial forecasts are based on the current available information in the Company and certain reasonableassumption to the Company, and we don't commit to achieve these forecasting numbers. Actual results may differ fromthese forecasts by a variety of reasons.
*Supplementary information will be disclosed on TDnet on February 14, 2022 and will be uploaded on the Company'swebsite.

Consolidated Financial Statements
Consolidated Balance Sheets(Million yen)
As of December 31,2020

As of December 31,2021

12,42743,083
10,462

12,68449,36312,802

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process

1,119

1,227

Raw materials and supplies
OtherAllowance for doubtful accounts

9,602
1,542(596)

14,562
2,785(566)

Total current assets

77,64092,86016,134

19,642

9,282
8,847

10,293
9,396

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Leased assets, net

414

343

Construction in progress
Other, net

3,514
2,144

3,055
2,588

Total property, plant and equipment

40,33845,320Goodwill

501

453

Other

206

374

Total intangible assets

707

827

Investment securities
Long-term loans receivable

25,17646

25,69846Retirement benefit asset

Intangible assets

Investments and other assets

221803

Deferred tax assets
Other
Allowance for doubtful accounts

347
1,208(414)258
2,065(981)

Total investments and other assets

26,58627,890Total non-current assets
Total assets- 1 -67,632

74,039145,272

166,899

(Million yen)
As of December 31,2020

As of December 31,2021

Notes and accounts payable - trade
Electronically recorded obligations - operating

16,376
11,30923,01013,234

Short-term loans payable
Current portion of long-term loans payable
Lease obligations

4,533
2,771
215

5,133
5,334
193

Accrued expenses
Income taxes payable

3,563
614

4,156
791

Provision for bonuses

555

612

Liabilities
Current liabilities

Other

2,375

2,790

Total current liabilities

42,31555,258

Bonds payable
Long-term loans payable

9,754

1,000
5,557

Lease obligations
Deferred tax liabilities

455
3,315

561
4,065

Retirement benefit liability
Asset retirement obligations
Other

4,940
71
2,996

4,981
73
2,936

Total non-current liabilities

21,535

19,17663,85074,434

Capital stock
Capital surplus

7,472
5,672

7,472
5,675

Retained earnings
Treasury shares

73,918(4,027)76,967(4,010)Total shareholders' equity

83,035

86,104

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

1,652
(0)

2,106
(2)

Foreign currency translation adjustment(7,281)(1,606)

Remeasurements of defined benefit plans(1,045)(222)

Total accumulated other comprehensive income(6,674)275

Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive incomeNon-controlling interests

5,060

6,085

Total net assets

81,421

92,465145,272

166,899

Total liabilities and net assets- 2 -Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year
ended December 31,2020

For the fiscal year
ended December 31,2021

Net sales

161,507

181,487

Cost of sales

126,049

143,803

Gross profit

35,45837,684

Selling, general and administrative expenses

28,24530,269Operating income

7,212

7,414

Interest income
Dividend income
Real estate rent
Equity in earnings of affiliates

89337
188
314

70
330
181
992

Other

242

260

1,172

1,835

Interest expenses

267

238

Foreign exchange losses
Other

157
171

294
210

Total non-operating expenses

596

743

7,789

8,506

Gain on sales of non-current assets
Gain on sales of investment securities
Subsidy income

83
3100

114
75
100

Total extraordinary income

187

290

Non-operating income

Total non-operating income
Non-operating expenses

Ordinary income
Extraordinary income

Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Loss on valuation of investment securities
Provision of allowance for doubtful accounts
Expense on restructuring of organization

-

22

3218

425
565
-

Total extraordinary losses

221

1,013

Income before income taxes

7,755

7,784

Income taxes - current

2,245

1,796

Income taxes - deferred(396)357

Total income taxes

1,849

2,153

Net income

5,906

5,630

Net income attributable to non-controlling interests
Net income attributable to owners of parent

- 3 -

630

697

5,275

4,933

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended December 31,2020

For the fiscal year
ended December 31,2021

5,906

5,630

(1,712)-354(2)Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of affiliates
accounted for using equity method(1,893)
32

4,414
831

(492)

1,600

Total other comprehensive income(4,066)

7,198

1,839

12,8291,399

11,653439

1,175

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests- 4 -Consolidated Statements of Changes in Net Assets
For the fiscal year ended December 31,2020(Million yen)
Shareholders' equity
Capitalsurplus

Capital stock
Balance at beginning of current period

7,472

Retainedearnings

5,672

Total
shareholders'equityTreasuryshares70,396(4,047)79,494

Changes of items during the period
Dividends of surplus(1,752)(1,752)

Net income attributable to owners of parent

5,275

5,275

Purchase of treasury shares

(0)

(0)

1917

Disposal of treasury shares(2)

Transfer to capital surplus from retained earnings

2(2)

-

(0)

3,521

19

3,540

7,472

5,672

73,918(4,027)83,035-

Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of current period

3,329

0

Foreigncurrencytranslation
adjustment(5,050)TotalRemeasurements accumulatedof defined benefit
otherplanscomprehensive
income(1,078)(2,798)

Noncontrollinginterests

Total net
assets

4,743

81,439Changes of items during the period
Dividends of surplus(1,752)

Net income attributable to owners of parent

5,275

Purchase of treasury shares(0)

Disposal of treasury shares

17

Transfer to capital surplus from retained-earnings
Net changes of items other than shareholders'equity(1,676)(0)(2,231)33(3,876)

317(3,558)

Total changes of items during period(1,676)(0)(2,231)33(3,876)

317

(18)

1,652

(0)

(7,281)(1,045)(6,674)

5,060

81,421

Balance at end of current period- 5 -For the fiscal year ended December 31,2021(Million yen)
Shareholders' equity
CapitalsurplusCapital stock
Balance at beginning of current period

7,472

Retainedearnings

5,672

Total
shareholders'equityTreasuryshares73,918(4,027)83,035

Changes of items during the period
Dividends of surplus(1,752)(1,752)

Net income attributable to owners of parent

4,933

4,933

Purchase of treasury sharesDisposal of treasury shares

2

Change in scope of consolidation

(0)

(0)

1720(120)

(120)

(11)

(11)

Change of scope of consolidation in entities
accounted for using equity method
Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

-2

3,048

17

3,068

7,472

5,675

76,967(4,010)86,104

Accumulated other comprehensive incomeValuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of current period

1,652(0)Foreigncurrencytranslation
adjustment(7,281)

Total
Remeasurements accumulatedof defined benefit
otherplanscomprehensive
income(1,045)(6,674)

Noncontrollinginterests

Total net
assets

5,060

81,421

Changes of items during the period
Dividends of surplus(1,752)

Net income attributable to owners of parent

4,933

Purchase of treasury shares(0)

Disposal of treasury shares

20

Change in scope of consolidation(120)

Change of scope of consolidation in entities(11)

accounted for using equity method
Net changes of items other than shareholders'equityTotal changes of items during period
Balance at end of current period

454

(2)

5,675

822

6,950

1,024

7,974

454

(2)

5,675

822

6,950

1,024

11,0432,106(2)(1,606)

(222)

275

6,085

92,465- 6 -Consolidated Statements of Cash Flows(Million yen)
For the fiscal year
ended December 31,2020

For the fiscal year
ended December 31,2021

7,755
4,349
83

7,784
4,306
86

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for bonuses(18)
17929451
9648

Interest and dividend income

(427)

(400)

Interest expenses

267

238

Equity in (earnings) losses of affiliates

(314)

(992)

Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sales and retirement of non-current assets

(3)
3(83)

(75)
(92)

Loss on retirement of non-current assets-425

Subsidy income
Expense on restructuring of organization

(100)
218

(100)
-

1,791

(3,629)(342)(4,809)(2,396)

7,184

Other, net

1,224(1,335)

Subtotal

12,2149,185Interest expenses paid

739
(264)

747
(233)

Proceeds from subsidy income

100100

Income taxes paid

(2,190)(2,243)

Net cash provided by (used in) operating activities

10,5997,556(4,318)293(2,887)(5,276)299(98)

Proceeds from sales of investment securities

15160

Payments of loans receivableCollection of loans receivable

(38)
48

(49)
49

Other, net

(121)

(437)

(7,010)(5,352)

Cash flows from operating activities
Income before income taxes
Depreciation and amortzation
Amortization of goodwill

Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
including electronically recorded obligations - operating

Interest and dividend income received

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investment securities

Net cash provided by (used in) investing activities- 7 -(Million yen)

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

For the fiscal year
ended December 31,2020For the fiscal year
ended December 31,2021(1,282)225

Proceeds from long-term loans payable

4,907

1,044

Repayments of long-term loans payable
Proceeds from issuance of bonds(2,473)-(3,003)
1,000

Cash dividends paid

(1,752)(1,752)

(239)

(278)

117

127

(256)

(238)

Dividends paid to non-controlling interests
Proceeds from share issuance to non-controllingshareholders
Other, net
Net cash provided by (used in) financing activities(980)(2,875)

Effect of exchange rate change on cash and cash equivalents(292)

679Net increase (decrease) in cash and cash equivalents

2,317

7

Cash and cash equivalents at beginning of period

9,361

11,678-429

11,678

12,115

Increase (decrease) in cash and cash equivalents resulting
from change of scope of consolidation
Cash and cash equivalents at end of period- 8 -