Summary of Consolidated Financial Results of Sumitomo Osaka Cement Co., Ltd.

for the First Quarter Fiscal Year 2023, Ending March 31, 2023 (JGAAP)

August 9,2022

Company name

Sumitomo Osaka Cement Co., Ltd

Stock Exchange Listing

Tokyo

Stock code

5232

URL

https://www.soc.co.jp/

Representative

(Job Title) Managing Director

(Name)

Hirotsune Morohashi

Contact Manager

(Job Title) General Manager

(Name)

Chitaru Imai

(TEL) 03-5211-4505

Scheduled

date

to submitAugust 10, 2022

Scheduled

date to commence -

the Quarterly Report

dividend payments

Availability of supplementary briefing

：Not

material on quarterly financial results

available

Scheduled date of Quarterly Financial：Not

Results Briefing Session

available

(Figures are rounded down to the nearest million yen)

１．Consolidated Financial Results for the first quarter

(From April 1, 2022 to June 31, 2022)

（１）Consolidated operating results(cumulative)

(％ indicated changes from the previous

corresponding term)

Quarterly net

Net sales

Operating profit

Ordinary profit

profit attributable

to owners of the

parent

Millions of yen

％

Millions of yen

％

Millions of yen

％

Millions of yen

％

2023 the first quarter

45,500

3.9

△3,147

-

△2,795

-

△1,107

-

term

2022 the first quarter

43,779

-

2,915

13.3

3,985

43.9

2,757

43.7

term

(Note) Comprehensive

FY ending March △5,583Millions

(-％)

FY ending March 2022

3,493 Millions (

544.8％)

profit

2023 the first

of yen

the first quarter

of yen

quarter

Quarterly net

Quarterly net

profit per share

profit per share

after adjusting

potential share

Yen

Sen

Yen

Sen

FY

ending

March,2023

△32.20

―

the first quarter

FY

ending

March,2022

73.85

―

the first quarter

Accounting Standard for Revenue Recognition" (Corporate Accounting Standard No. 29, March 31, 2020) has been applied from the beginning of the first quarter of the current consolidated accounting period. The year-on- year rate of change in sales for the second quarter of the fiscal year ending March 2022 is not shown because it will have a significant impact on sales.

（２）Consolidated Financial Status

Total assets

Net assets

Net assets ratio

Millions of yen

Millions of yen

％

FY ending March,2023

338,424

193,503

56.6

the first quarter term

FY ending March,2022

331,107

203,173

60.7

(Reference) Net 2023 the first quarter 191,431

Millions

FY ending

200,964 Millions

assets

of yen

March

of yen

2022

―1―

： None
： None
： None

２．Dividend Status

Annual Dividend

End of 1Q

End of 2Q

End of 3Q

Year-end

Total

Yen

Sen

Yen Sen

Yen Sen

Yen Sen

Yen Sen

FY ending March,2022

―

60.00

―

60.00

120.00

FY ending March,2023

―

End of March,2023

60.00

―

60.00

120.00

(Forecast)

(Note) Revisions from the most recently published dividend forecast

：None

３．The fiscal year ending March,2023 Consolidated Performance Forecast （From April 1, 2022 to March 31, 2023）

(％ indicates changes from the previous corresponding term)

Net profit

Net sales

Operating profit

Ordinary profit

attributable to

Net profit

owners of the

per share

parent

Millions of

Millions of

Millions of

Millions of

yen

％

yen

％

yen

％

yen

％

Yen Sen

Second quarter

(accumulated)

98,000

10.0

△1,000

-

200

△97.1

500

△91.7

14.56

Fiscal year 2023

205,800

11.7

5,700

△17.1

7,200

△26.8

6,800

△29.7

198.27

(Note) Presence or absence of revisions from the most recently announced earnings forecast: None

※ Notes

（ 1 ） Changes in significant subsidiaries during this consolidated

： None

cumulative quarter

(Changes od subsidiaries involving changes in the scope of consolidation)

New －Company

（Name of

Excluded －Company

（Name of

Company）

company）

（２）Adoption of specific accounting treatments to the preparation ：None of quarterly consolidated financial statements

（３）Changes in accounting policies, changes in accounting estimation or restatements ① Changes in accounting policies due to the revision

of accounting standards

② Changes in accounting policies other than ①

③ Changes in accounting estimation

④ Restatements

: None

（4） Numbers of Shares Issued（Common stock）

―2―

① Total number of issued shares （including treasury stock）

  • Total number of treasury stocks
  • Average number of shares during the period（cumulative）

FY ending March,

FY ending March,

2023

34,329,517Shares

2022

37,243,217Shares

1Ｑ

FY ending March,

FY ending March,

2023

72,883Shares

2022

2,464,655Shares

1Ｑ

FY ending March,

FY ending March,

2023

34,387,092Shares

2022m

37,342,145Shares

1Ｑ

1Ｑ

  • The quarterly Financial Reports are outside of the scope of quarterly review by certified public accountants and audit corporations
  • Explanation for the appropriate use of performance forecasts and other special notes:

The statements regarding forecast of financial results in this report are based on the information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. For the suppositions that from the assumptions for profit forecast and cautions concerning the user thereof, please refer to "1, Qualitative Information on Quarterly Financial Results" and "(3) Qualitative Information on Forecast of Consolidated Financial Results and Other Forward-Looking Information" on page 2 of the Appendix

―3―

  • Table of Contents of Appendix

１．Qualitative Information on Quarterly Financial Results

………………………………5

(1)

Qualitative information on consolidated operational results

…………………………5

(2)

Qualitative information on consolidated financial position

……………………………5

(3)

Qualitative information on consolidated financial results

and other forward-looking information

…………………………………………5

２．Notes on Quarterly Consolidated Financial Statements and Principal ……………………6

（1）Quarterly consolidated balance sheet ………………………………………………………… 6

（2）Quarterly consolidated profit and loss calculation and comprehensive profit …… 8

(3)Notes to Quarterly Consolidated Financial Statements ………………………………………10

（Notes to going concern assumption） …………………………………………………………10

(Notes to significant changes in the amount of shareholders' equity)……………… 10

(Accounting policy changes) ………………………………………………………………………10

（Segment information） ……………………………………………………………………………11

３．Supplementary Information …………………………………………………………………………12

(1) Consolidated segment profit and loss（Period comparison） ………………………………12

―4―

1．Qualitative Information on Quarterly Financial Results （1） Qualitative Information on Consolidated Operating Results

During the first quarter of the current fiscal year (April-June, 2022), the Japanese economy showed signs of picking up from the severe situation caused by the COVID-19 eased.

In the cement industry, although private sector demand was strong due to the progress of redevelopment work, etc., domestic demand decreased by 0.5% from the same period of the previous year to 9,176 thousand tons due to sluggish government demand due to a reduction in the budget for public works and a decline in the budget execution rate. On the other hand, exports decreased by 7.8% year on year.

As a result, total sales volume by domestic manufacturers, including exports, was 11,807 thousand tons, down 2.3% from the same period of the previous year.

Under these circumstances, based on the "Medium-Term Management Plan for FY2020-22," which started in FY2020, the Group is implementing various measures as its business strategy, including "improving the profitability of cement and solidification materials and establishment of business foundation" and "expanding related businesses" in the cement related business, and in the high functional products business, we are taking various measures to "secure the competitive advantage of existing mainstay products and develop new products," and in the environmental measures, we are "strengthening environmental measures" and "working to reduce CO2 emissions".

As a result of the above, net sales for the first quarter of the current fiscal year totaled

45,500 million yen, up 1,720 million yen from last year, and ordinary loss totaled 2,795 million yen, 6,780 million yen worse than the same period last year. Net loss attributable to owners of the parent amounted to 1,107 million yen, 3,865 million yen worse than in the same period of the previous year.

  1. Qualitative Information on Consolidated Financial Position

Total assets at the end of the first quarter of the current fiscal year were 338,424 million yen, an increase of 7,316 million yen from the end of the previous fiscal year. The main changes were a 12,181 million yen increase in raw materials and supplies and a 6,848 million yen decrease in investment securities.

Total liabilities amounted to 144,921 million yen, an increase of 16,986 million yen from the end of the previous fiscal year. The main changes were a 5,000 million yen increase in commercial paper and a 10,000 million yen increase in bonds payable.

Net assets were 193,503 million yen, a decrease of 9,670 million yen from the end of the previous fiscal year. The main components of the change were a decrease of 8,306 million yen in treasury stock (increase in net assets) due to the purchase and cancellation of treasury stock, a decrease of 13,436 million yen in retained earnings, and a decrease of 4,571 million yen in valuation difference on available-for-sale securities.

  1. Qualitative Information on Consolidated Financial Forecasts and Other Forward-Looking Statements There are no changes to the consolidated earnings forecast announced on May 12, 2022.

―5―

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Sumitomo Osaka Cement Co. Ltd. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 10:39:28 UTC.