Summary of Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

[Japan GAAP]

Prepared in accordance with accounting principles generally accepted in Japan

Translated from the original Japanese-language document

May 11, 2021

Daifuku Co., Ltd.

Stock code: 6383, First Section of Tokyo Stock Exchange

URL:www.daifuku.com/jp

Representative: Hiroshi Geshiro, President and CEO

Contact: Tetsuya Hibi, Corporate Officer, Finance and Accounting Division Manager

Tel: +81-6-6472-1261

Scheduled date of general meeting of shareholders: June 25, 2021

Scheduled date of commencing dividend payment: June 28, 2021

Scheduled date for filing financial statements: June 28, 2021

Earnings supplementary materials: Yes

Earnings presentation: Yes (for institutional investors and securities analysts)

Note: Figures are rounded down to the nearest one million yen.

1. Consolidated Financial Results for Fiscal 2020 (April 1, 2020 - March 31, 2021)

(1) Operating results

(Figures in percentages denote the year-on-year change)

Net income

Net sales

Operating income

Ordinary income

attributable to

shareholders of the

parent company

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Fiscal 2020

473,902

6.8

44,566

10.0

45,846

11.9

32,390

15.4

Fiscal 2019

443,694

(3.4)

40,497

(25.9)

40,976

(26.6)

28,063

(29.1)

Note: Comprehensive income

Fiscal 2020: 33,345 million yen 30.1%

Fiscal 2019: 25,627 million yen (37.2%)

Net income

Diluted net

Ratio of

Ratio of

Return on equity

ordinary income

operating income

per share

income per share

to total assets

to net sales

Yen

Yen

%

%

%

Fiscal 2020

257.13

－

13.2

10.7

9.4

Fiscal 2019

222.96

－

12.4

10.0

9.1

Reference: Equity in earnings of affiliates during the period

Fiscal 2020: 39 million yen

Fiscal 2019: 19 million yen

1

(2) Financial position

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen

%

Yen

Fiscal 2020

445,456

262,012

57.7

2,040.07

Fiscal 2019

410,887

237,356

56.7

1,850.28

Reference:

Shareholders' equity

Fiscal 2020: 257,060 million yen

Fiscal 2019: 232,961 million yen

(3) Cash flows

Cash flows

Cash flows

Cash flows

Cash and cash

from operating

from investing

from financing

equivalents,

activities

activities

activities

end of year

Million yen

Million yen

Million yen

Million yen

Fiscal 2020

38,229

(6,679)

(8,385)

94,079

Fiscal 2019

13,706

(14,791)

(18,354)

70,883

2. Dividends

Dividend per share

Total cash

Dividends

Net assets

dividends

payout

dividend ratio

Q1-end

Q2-end

Q3-end

FY-end

Annual

(annual)

(consolidated)

(consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

Fiscal 2019

－

30.00

－

45.00

75.00

9,456

33.6

4.2

Fiscal 2020

－

30.00

－

50.00

80.00

10,090

31.1

4.1

Fiscal 2021

－

35.00

－

50.00

85.00

31.5

(forecast)

3. Consolidated Earnings Forecast for Fiscal 2021 (April 1, 2021- March 31, 2022)

(Figures in percentage denote the year-on-year change from the same period of the previous fiscal year.)

Net income

Net sales

Operating income

Ordinary income

attributable to

Net income

shareholders of the

per share

parent company

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Interim

240,000

4.3

20,500

4.2

21,100

3.7

15,000

1.8

119.08

Full-year

500,000

5.5

47,000

5.5

47,900

4.5

34,000

5.0

269.91

2

Notes:

  1. Changes in significant subsidiaries that affected the scope of consolidation during the fiscal year: None
  2. Changes in accounting policies, accounting estimates, and restatement
    1. Changes in accounting policies resulting from the revision of the accounting standards and other regulations: None
    2. Changes in accounting policies other than 1): None
    3. Changes in accounting estimates: None
    4. Restatement: None
  4. Number of shares issued (Common stock)
    1. Number of shares issued including treasury stock at the end of the period

Fiscal 2020: 126,610,077 shares

Fiscal 2019: 126,610,077 shares

  1. Number of treasury stock at the end of the period
    Fiscal 2020: 604,068 shares

Fiscal 2019: 703,806 shares

  1. Average number of shares during the period
    Fiscal 2020: 125,966,030 shares
    Fiscal 2019: 125,867,093 shares

Note: The number of treasury stock at the end of the period includes shares owned by the Board Benefit Trust (BBT) and a trust on behalf of Daifuku employees' shareholding association. The number of treasury stock at the end of the fiscal year ended March 31, 2021 includes 119,200 shares owned by the BBT. The number of treasury stock at the end of the fiscal year ended March 31, 2020 included 159,100 shares owned by the BBT. In addition, the number of treasury stock at the end of the fiscal year ended March 31, 2020 included 61,900 shares owned by the trust on behalf of Daifuku employees' shareholding association.

These consolidated financial statements are not subject to audit through the certified public accountant or an audit firm.

Disclaimer

The consolidated earnings forecast contained in this document is based on information available to management at the present time and certain assumptions judged to be rational. As such, actual sales and income may differ from this forecast due to uncertain factors present in the forecast or future changes in business circumstances.

Earnings supplementary materials are available at the TDnetand our website: www.daifuku.com/ir

3

Consolidated Financial Statements

(1) Consolidated balance sheets

(Million yen)

FY2019

FY2020

(Year ended March 31, 2020)

(Year ended March 31, 2021)

ASSETS

Current assets:

Cash on hand and in banks

70,907

94,167

Notes and accounts receivable and

202,712

211,906

unbilled receivables

Merchandise and finished goods

6,453

6,355

Costs incurred on uncompleted

11,169

11,550

construction contracts and other

Raw materials and supplies

15,720

16,325

Other current assets

13,103

10,869

Allowance for doubtful accounts

(383)

(571)

Total current assets

319,683

350,604

Non-current assets:

Property, plant and equipment

Buildings and structures, net

21,203

21,304

Machinery and vehicles, net

5,635

5,802

Tools and fixtures, net

2,486

2,637

Land

12,250

12,228

Other, net

5,768

7,574

Total property, plant and equipment

47,343

49,547

Intangible assets

Software

4,096

3,998

Goodwill

4,891

4,212

Other

1,145

1,804

Total intangible assets

10,133

10,015

Investments and other assets

Investments in securities

15,182

14,965

Long-term loans

128

117

Assets for retirement benefits

5,708

7,738

Deferred tax assets

9,480

9,566

Other

3,397

3,066

Allowance for doubtful accounts

(169)

(165)

Total investments and other assets

33,727

35,289

Total non-current assets

91,204

94,852

Total assets

410,887

445,456

4

(Million yen)

FY2019

FY2020

(Year ended March 31, 2020)

(Year ended March 31, 2021)

LIABILITIES

Current liabilities:

Notes and accounts payable and

46,509

42,743

construction contracts payable

Electronically recorded obligations -

22,587

20,169

operating

Short-term borrowings and current

11,772

15,543

portion of long-term borrowings

Income taxes payable

Advances received on uncompleted construction contracts and other Provision for losses on construction contracts

2,599

9,907

33,091

34,263

263

343

Other current liabilities

21,870

26,207

Total current liabilities

138,695

149,178

Non-current liabilities:

Long-term borrowings

21,645

19,600

Deferred tax liabilities

321

516

Liabilities for retirement benefits

8,082

7,674

Other reserves

330

351

Other non-current liabilities

4,455

6,123

Total non-current liabilities

34,836

34,265

Total liabilities

173,531

183,443

NET ASSETS

Shareholders' equity:

Common stock

31,865

31,865

Capital surplus

21,987

21,980

Retained earnings

179,292

202,377

Treasury stock

(1,430)

(941)

Total shareholders' equity

231,714

255,282

Accumulated other comprehensive

income:

Net unrealized gain (loss) on securities

2,716

4,376

Deferred gain (loss) on hedges

(89)

(260)

Foreign currency translation adjustments

1,038

(1,425)

Accumulated adjustments on retirement

(2,419)

(912)

benefits

Total accumulated other comprehensive

1,246

1,778

income

Non-controlling interests:

4,394

4,952

Total net assets

237,356

262,012

Total liabilities and net assets

410,887

445,456

5

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Daifuku Co. Ltd. published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 10:33:02 UTC.