Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results

for the First Six Months of the Fiscal Year

Ending March 31, 2022

(Under Japanese GAAP)

November 4, 2021

Company name:

Bunka Shutter Co., Ltd.

Listing:

Tokyo Stock Exchange

Securities code:

5930

URL:

https://www.bunka-s.co.jp/

Representative:

Hiroyuki Ogura, Representative Director and President

Inquiries:

Koichi Nishimura, Operating Officer and Manager of Accounting Department

TEL:

+81-3-5844-7200

Scheduled date to file quarterly securities report:

November 4, 2021

Scheduled date to commence dividend payments:

December 1, 2021

Preparation of supplementary material on quarterly financial results: Yes

Holding of quarterly financial results briefing:

Yes (for analysts and institutional

investors)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first six months of the fiscal year ending March 31, 2022 (from April 1, 2021 to September 30, 2021)

(1) Consolidated operating results (cumulative)

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30, 2021

84,010

-

2,257

(23.0)

2,119

(36.4)

1,224

(34.7)

September 30, 2020

78,259

(6.3)

2,933

(0.1)

3,330

24.5

1,874

19.4

Note: Comprehensive income

For the six months ended September 30, 2021:¥2,166 million

[44.1%]

For the six months ended September 30, 2020:¥1,503 million

[19.3%]

Basic earnings

Diluted earnings

per share

per share

Six months ended

Yen

Yen

September 30, 2021

17.60

15.40

September 30, 2020

26.15

23.03

Note: The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from the beginning of the first quarter of the fiscal year ending March 31, 2022, and the figures for the first six months of the fiscal year ending March 31, 2022 are the figures after the application of the said accounting standard, etc. However, since the figures for the first six months of the fiscal year ended March 31, 2021 have not been applied retrospectively, the ratio of change in net sales for the first six months of the fiscal year ending March 31, 2022 to the same period of the previous year is not stated.

- 1 -

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

As of

Millions of yen

Millions of yen

%

September 30, 2021

160,007

79,649

49.7

March 31, 2021

168,350

84,482

50.1

Reference: Equity

As of September 30, 2021: ¥79,502 million

As of March 31, 2021:

¥84,303 million

Note: The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from the beginning of the first quarter of the fiscal year ending March 31, 2022, and the figures for the first six months of the fiscal year ending March 31, 2022 are the figures after the application of the said accounting standard, etc.

2. Cash dividends

Annual dividends

First quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

12.50

-

27.50

40.00

March 31, 2021

Fiscal year ending

-

20.00

March 31, 2022

Fiscal year ending

-

20.00

40.00

March 31, 2022 (Forecast)

Note: Revisions to the cash dividends forecasts most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

(Percentages indicate year-on-year changes.)

Profit attributable to

Basic

Net sales

Operating profit

Ordinary profit

earnings per

owners of parent

share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

Fiscal year ending

181,500

-

10,300

(2.0)

11,000

(7.6)

7,600

(9.5)

113.14

March 31, 2022

Note: Revisions to the earnings forecasts most recently announced: None

- 2 -

* Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. Application of special accounting treatment for preparing quarterly consolidated financial statements: Yes
  3. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  5. Number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of September 30, 2021

72,196,487 shares

As of March 31, 2021

72,196,487 shares

(ii) Number of treasury shares at the end of the period

As of September 30, 2021

5,021,866

shares

As of March 31, 2021

503,470

shares

(iii) Average number of shares outstanding during the period

Six months ended September 30, 2021

69,557,424 shares

Six months ended September 30, 2020

71,693,134 shares

  • Quarterly Financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters (Caution regarding forward-looking statements and others)
    The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual business and other results may differ substantially due to various factors.
    (How to obtain supplementary material on quarterly financial results)
    The Company plans to hold a quarterly financial results briefing for analysts and institutional investors on November 30, 2021 (Tuesday). The Company also plans to post the supplementary material on quarterly financial results that will be used at the briefing on the Company's website in addition to disclosing it on TDnet.

- 3 -

Quarterly Consolidated financial statements

(1) Quarterly Consolidated balance sheet

(Millions of yen)

As of March 31, 2021

As of September 30, 2021

Assets

Current assets

Cash and deposits

37,179

33,177

Notes and accounts receivable - trade

39,804

-

Notes and accounts receivable - trade, and contract

-

36,693

assets

Merchandise and finished goods

11,954

9,382

Work in process

1,001

1,246

Raw materials and supplies

4,317

5,208

Other

3,285

3,577

Allowance for doubtful accounts

(99)

(112)

Total current assets

97,443

89,173

Non-current assets

Property, plant and equipment

Buildings and structures, net

11,134

10,870

Land

12,630

12,912

Other, net

9,447

9,900

Total property, plant and equipment

33,212

33,683

Intangible assets

Goodwill

4,211

4,195

Other

5,022

4,862

Total intangible assets

9,234

9,058

Investments and other assets

Investment securities

18,658

18,491

Retirement benefit asset

1,672

1,696

Other

8,429

8,174

Allowance for doubtful accounts

(300)

(271)

Total investments and other assets

28,460

28,091

Total non-current assets

70,907

70,833

Total assets

168,350

160,007

- 4 -

(Millions of yen)

As of March 31, 2021

As of September 30, 2021

Liabilities

Current liabilities

Notes and accounts payable - trade

28,228

27,727

Short-term borrowings

1,727

1,617

Income taxes payable

2,355

1,041

Provision for bonuses

3,666

3,514

Provision for bonuses for directors (and other

179

89

officers)

Provision for loss on construction contracts

69

190

Other

13,617

11,883

Total current liabilities

49,844

46,063

Non-current liabilities

Convertible-bond-type bonds with share acquisition

10,000

10,000

rights

Long-term borrowings

21

6

Provision for retirement benefits for directors (and

366

255

other officers)

Retirement benefit liability

19,102

19,202

Asset retirement obligations

50

51

Other

4,481

4,778

Total non-current liabilities

34,023

34,293

Total liabilities

83,868

80,357

Net assets

Shareholders' equity

Share capital

15,051

15,051

Capital surplus

12,304

12,323

Retained earnings

54,171

53,416

Treasury shares

(157)

(5,157)

Total shareholders' equity

81,370

75,634

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

3,960

4,087

Revaluation reserve for land

(76)

(76)

Foreign currency translation adjustment

(995)

(187)

Remeasurements of defined benefit plans

45

44

Total accumulated other comprehensive income

2,933

3,867

Non-controlling interests

178

147

Total net assets

84,482

79,649

Total liabilities and net assets

168,350

160,007

- 5 -

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Bunka Shutter Co. Ltd. published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 05:11:09 UTC.