Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Year Ended March 31, 2022

(Based on Japanese GAAP)

May 9, 2022

Company name:

Tohto Suisan Co., Ltd

Stock exchange listing:

Tokyo

Stock code:

8038

URL https://www.tohsui.co.jp

Representative:

President and Representative Director

Koh Ehara

Inquiries:

Operating Officer, Accounting Dept.

Hiroshi Tanaka

TEL 03-6633-1005

Scheduled date of ordinary general meeting of shareholders:

June 22, 2022

Scheduled date to file Securities Report:

June 22, 2022

Scheduled date to commence dividend payments:

June 23, 2022

Preparation of supplementary material on financial results:

No

Holding of financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)

(1) Consolidated operating results

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Year ended March 31, 2022

81,113

-

1,850

28.6

2,021

16.2

1,597

4.9

Year ended March 31, 2021

103,147

(12.5)

1,439

7.0

1,739

13.3

1,523

12.1

Earnings per share

Diluted earnings per

Profit attributable to

Ordinary profit/total

Operating profit/net

share

owners of

assets

sales

parent/equity

Yen

Yen

%

%

%

Year ended March 31, 2022

406.78

-

8.3

6.6

2.3

Year ended March 31, 2021

387.19

-

8.7

5.9

1.4

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of March 31, 2022

31,381

20,347

64.8

5,186.47

As of March 31, 2021

30,068

18,263

60.7

4,641.76

(3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended March 31, 2022

497

(85)

(1,204)

8,392

Year ended March 31, 2021

3,529

(238)

(299)

8,997

2. Cash dividends

Annual dividends per share

Total cash

Dividend payout

Ratio of dividends

to net assets

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

dividends (Total)

ratio (Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Year ended March 31, 2021

-

-

-

80.00

80.00

318

20.7

1.8

Year ended March 31, 2022

-

-

-

100.00

100.00

397

24.6

2.0

Year ending March 31, 2023

-

-

-

100.00

100.00

30.2

(Forecast)

(Note) The year-end dividend per share for the year ended March 31, 2022, was changed from 80 yen to 100 yen. For more details, please refer to "Notice Concerning Revisions to Dividends Forecasts (Dividend Increase)" announced today (May 9, 2022).

1

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

80,000

(1.3)

1,500

(18.9)

1,600

(20.8)

1,300

(18.6)

331.36

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2022

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:

Yes

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

Yes

Restatement of prior period financial statements:

No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2022

4,026,000 shares

As of March 31, 2021

4,026,000 shares

Number of treasury shares at the end of the period

As of March 31, 2022

102,780 shares

As of March 31, 2021

91,328 shares

Average number of shares during the period

Year ended March 31, 2022

3,927,656 shares

Year ended March 31, 2021

3,934,689 shares

  • Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
  • Proper use of forecasts of financial results, and other special matters

The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual results may differ substantially due to various factors.

2

Consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2021

As of March 31, 2022

Assets

Current assets

Cash and deposits

10,287

9,130

Notes and accounts receivable - trade

5,270

5,810

Merchandise and finished goods

1,772

2,998

Work in process

8

4

Raw materials and supplies

94

86

Other

404

393

Allowance for doubtful accounts

(364)

(382)

Total current assets

17,472

18,041

Non-current assets

Property, plant and equipment

Buildings and structures

10,261

10,081

Accumulated depreciation

(6,814)

(6,844)

Buildings and structures, net

3,447

3,236

Machinery, equipment and vehicles

3,283

3,526

Accumulated depreciation

(2,646)

(2,760)

Machinery, equipment and vehicles, net

636

766

Land

3,163

2,969

Construction in progress

32

91

Other

647

666

Accumulated depreciation

(465)

(526)

Other, net

182

140

Total property, plant and equipment

7,461

7,204

Intangible assets

Leasehold interests in land

184

184

Fishery right

2,207

3,097

Other

46

35

Total intangible assets

2,438

3,317

Investments and other assets

Investment securities

2,271

2,405

Deferred tax assets

81

76

Distressed receivables

188

177

Other

325

320

Allowance for doubtful accounts

(171)

(162)

Total investments and other assets

2,695

2,817

Total non-current assets

12,596

13,339

Total assets

30,068

31,381

3

(Millions of yen)

As of March 31, 2021

As of March 31, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade

2,368

2,403

Short-term borrowings

2,346

2,619

Income taxes payable

69

280

Provision for bonuses

54

65

Provision for shareholder benefit program

2

1

Other

1,114

900

Total current liabilities

5,955

6,271

Non-current liabilities

Long-term borrowings

3,127

2,060

Deferred tax liabilities

394

436

Long-term guarantee deposits

909

935

Deferred tax liabilities for land revaluation

298

298

Retirement benefit liability

867

785

Provision for share awards

33

33

Provision for share awards for directors

-

20

Asset retirement obligations

124

122

Other

92

67

Total non-current liabilities

5,848

4,761

Total liabilities

11,804

11,033

Net assets

Shareholders' equity

Share capital

2,376

2,376

Capital surplus

1,085

1,085

Retained earnings

14,885

16,002

Treasury shares

(196)

(260)

Total shareholders' equity

18,149

19,203

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

486

612

Deferred gains or losses on hedges

(10)

(0)

Revaluation reserve for land

360

522

Foreign currency translation adjustment

(741)

(38)

Remeasurements of defined benefit plans

19

47

Total accumulated other comprehensive income

114

1,144

Total net assets

18,263

20,347

Total liabilities and net assets

30,068

31,381

4

Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022

Net sales

103,147

81,113

Cost of sales

97,300

74,654

Gross profit

5,846

6,459

Selling, general and administrative expenses

4,407

4,608

Operating profit

1,439

1,850

Non-operating income

Interest income

43

21

Dividend income

100

69

Gain on sale of non-current assets

16

50

Subsidy income

121

42

Rental income

19

19

Other

47

43

Total non-operating income

348

247

Non-operating expenses

Interest expenses

26

22

Loss on retirement of non-current assets

2

30

Foreign exchange losses

6

16

Other

12

6

Total non-operating expenses

47

75

Ordinary profit

1,739

2,021

Extraordinary income

National subsidies

-

41

Gain on sale of investment securities

18

7

Total extraordinary income

18

48

Extraordinary losses

Loss on sale of non-current assets

-

49

Loss on tax purpose reduction entry of non-current assets

-

41

Loss on valuation of investment securities

29

-

Total extraordinary losses

29

91

Profit before income taxes

1,727

1,979

Income taxes - current

287

414

Income taxes - deferred

(83)

(32)

Total income taxes

204

381

Profit

1,523

1,597

Profit attributable to owners of parent

1,523

1,597

5

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Tohto Suisan Co. Ltd. published this content on 30 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2022 13:28:12 UTC.