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 Three Months Ended June 30, 2020 (Based on Japanese GAAP)

August 5, 2020

Company name:

YUASA TRADING CO.,LTD.

Stock exchange listing:

Tokyo

Stock code:

8074

URL http://www.yuasa.co.jp

Representative:

Representative Director, President & CEO

Hiroyuki Tamura

Inquiries:

General Manager Finance Dept.

Hideki Tani

TEL (03)6369-1366

Scheduled date to file Quarterly Securities Report:

August 7, 2020

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

No

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2020 (from April 1, 2020 to June 30, 2020)

(1) Consolidated operating results (cumulative)

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

%

Three months ended June 30, 2020

94,338

(12.8)

1,471

(18.7)

1,750

(15.1)

1,161

(17.4)

Three months ended June 30, 2019

108,181

6.1

1,808

5.0

2,062

5.5

1,406

7.6

Earnings per share

Diluted earnings per share

Yen

Yen

Three months ended June 30, 2020

52.30

51.94

Three months ended June 30, 2019

63.56

62.92

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2020

217,403

80,882

37.1

As of March 31, 2020

237,071

81,028

34.0

2. Cash dividends

Annual dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2020

-

70.00

-

80.00

150.00

Year ending March 31, 2021

-

Year ending March 31, 2021 (Forecast)

30.00

-

70.00

100.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Six months ending

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

205,000

(15.6)

2,650

(53.2)

3,100

(49.9)

2,077

(50.0)

93.52

September 30, 2020

Full year

450,000

(8.4)

9,250

(22.1)

10,000

(21.9)

6,700

(25.1)

301.69

1

4. Notes

  1. Changes in significant subsidiaries during the three months ended June 30, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):
  2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) 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:

No

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

(4) Number of issued shares (common shares)

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

As of June 30, 2020

23,155,882

shares

As of March 31, 2020

23,155,882

shares

Number of treasury shares at the end of the period

As of June 30, 2020

947,664

shares

As of March 31, 2020

960,531

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2020

22,208,242

shares

Three months ended June 30, 2019

22,134,576

shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2020

As of June 30, 2020

Assets

Current assets

Cash and deposits

43,780

36,313

Notes and accounts receivable - trade

116,621

98,286

Electronically recorded monetary claims - operating

18,287

17,930

Inventories

16,190

19,321

Other

2,641

3,237

Allowance for doubtful accounts

(59)

(64)

Total current assets

197,460

175,024

Non-current assets

Property, plant and equipment

13,601

13,697

Intangible assets

Goodwill

2,907

2,744

Other

2,285

2,200

Total intangible assets

5,192

4,944

Investments and other assets

Retirement benefit asset

6,718

6,711

Other

14,592

17,517

Allowance for doubtful accounts

(494)

(492)

Total investments and other assets

20,816

23,736

Total non-current assets

39,610

42,378

Total assets

237,071

217,403

3

(Millions of yen)

As of March 31, 2020

As of June 30, 2020

Liabilities

Current liabilities

Notes and accounts payable - trade

114,952

97,044

Electronically recorded obligations - operating

18,555

18,491

Short-term borrowings

3,489

3,475

Income taxes payable

2,506

206

Provision for bonuses

2,469

991

Provision for bonuses for directors (and other officers)

86

-

Other

7,834

9,533

Total current liabilities

149,894

129,743

Non-current liabilities

Long-term borrowings

801

695

Provision for share-based remuneration

107

106

Provision for share-based remuneration for directors (and

80

83

other officers)

Retirement benefit liability

705

710

Other

4,453

5,181

Total non-current liabilities

6,148

6,777

Total liabilities

156,042

136,520

Net assets

Shareholders' equity

Share capital

20,644

20,644

Capital surplus

6,804

6,815

Retained earnings

50,269

49,649

Treasury shares

(1,362)

(1,346)

Total shareholders' equity

76,356

75,762

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

2,515

3,319

Deferred gains or losses on hedges

0

2

Foreign currency translation adjustment

(110)

(286)

Remeasurements of defined benefit plans

1,921

1,776

Total accumulated other comprehensive income

4,327

4,811

Share acquisition rights

299

272

Non-controlling interests

45

35

Total net assets

81,028

80,882

Total liabilities and net assets

237,071

217,403

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

(Millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Net sales

108,181

94,338

Cost of sales

97,868

85,026

Gross profit

10,313

9,311

Selling, general and administrative expenses

8,504

7,840

Operating profit

1,808

1,471

Non-operating income

Interest income

332

294

Dividend income

117

113

Other

87

134

Total non-operating income

537

541

Non-operating expenses

Interest expenses

266

238

Other

17

24

Total non-operating expenses

284

262

Ordinary profit

2,062

1,750

Extraordinary income

Gain on sales of non-current assets

1

0

Gain on sales of investment securities

1

0

Gain on extinguishment of tie-in shares

-

16

Total extraordinary income

2

16

Extraordinary losses

Loss on retirement of non-current assets

0

3

Loss on COVID-19

-

69

Total extraordinary losses

0

72

Profit before income taxes

2,065

1,694

Income taxes

662

539

Profit

1,402

1,155

Loss attributable to non-controlling interests

(4)

(6)

Profit attributable to owners of parent

1,406

1,161

5

Consolidated statements of comprehensive income (cumulative)

(Millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Profit

1,402

1,155

Other comprehensive income

Valuation difference on available-for-sale securities

(210)

804

Deferred gains or losses on hedges

(0)

1

Foreign currency translation adjustment

27

(178)

Remeasurements of defined benefit plans, net of tax

(162)

(145)

Total other comprehensive income

(344)

482

Comprehensive income

1,057

1,637

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

1,061

1,645

Comprehensive income attributable to non-controlling

(3)

(7)

interests

6

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Yuasa Trading Co. Ltd. published this content on 06 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 August 2020 08:03:04 UTC