双日（2768） – Summary of Consolidated Financial Results for the Year Ended March 31,2022[IFRS]

Summary of Consolidated Financial Resultsfor the Year Ended March 31, 2022 (IFRS)May 2, 2022Sojitz Corporation( URL https://www.sojitz.com/en/ )Listed stock exchange:Security code:Company representative:Contact information:Scheduled date of Ordinary General Shareholders’ Meeting: June 17, 2022Scheduled filing date of financial report: June 17, 2022Scheduled date of delivery of dividends: June 20, 2022Supplementary materials for the quarterly financial results: YesInvestor conference for the quarterly financial results: YesPrime section of Tokyo2768Masayoshi Fujimoto, President & CEOYoichi Yanagisawa, GM, Public Relations Dept. TEL +81-3-6871-34041. Consolidated Financial Results for the Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)(1) Consolidated Operating Results(Rounded down to millions of Japanese Yen)Description of % is indicated as the change rate compared with the previous fiscal year.RevenueProfit before taxProfit for the yearProfit attributable toowners of theCompanyTotal comprehensiveincome for the yearFor the year endedMarch 31, 2022March 31, 2021Millions of Yen2,100,7521,602,485%31.1(8.7)Millions of Yen117,29537,420%213.5(50.5)Millions of Yen85,47129,417%190.5(54.4)Millions of Yen%82,332 204.927,001(55.6)Millions of Yen148,58862,967%136.0-For the year endedMarch 31, 2022March 31, 2021NoteBasic earningsper shareYen352.65112.53Diluted earningsper shareYen352.65112.53Profit ratio to equity attributable toowners of the Company%12.24.5Profit before tax ratioto total assets%4.71.71.Share of profit (loss) of investments accounted for using the equity methodMarch 31, 2022 : 37,968 millions of yenMarch 31, 2021 : 14,786 millions of yen2.Basic earnings per share and diluted earnings per share are calculated based on profit for the period attributable to owners of the Company.3.The Company conducted a five-for-one share consolidation of shares of common stock effective October 1, 2021. Basic earnings per share and diluted earnings per share have been calculated based on the assumption that the share consolidation had been conducted on April 1, 2021.(2) Consolidated Financial Position Total assetsTotal equityTotal equity attributable toowners of the CompanyTotal equity attributableto owners of theCompany ratioTotal equity per shareattributable to owners ofthe CompanyAs ofMarch 31, 2022March 31, 2021Millions of YenMillions of Yen2,661,6802,300,115763,878654,639Millions of Yen728,012619,111%Yen27.426.93,153.902,581.58(3) Consolidated Statement of Cash FlowsFor the year endedMarch 31, 2022March 31, 20212.Cash DividendsOperating activitiesInvesting activitiesFinancing activitiesCash & cash equivalentsat the end of the yearMillions of YenMillions of YenMillions of YenMillions of Yen65,08484,972(137,819)(35,676)46,898(40,621)271,651287,597Cash divideds per shareFirst quarterSecond quarterThird quarterYear endAnnualTotal amountof cash dividends(annual)Consolidatedpayout ratioDividend on totalequity attributable toowners of theCompany(consolidated)YenMillions of Yen%For the year endedMarch 31, 2021March 31, 2022March 31, 2023 (forecast)Yen—Yen5.009.0056.00Yen—Yen5.0061.0056.0010.00-112.0012,00624,54630.130.4%2.03.7Note : 1.2.Changes in cash dividends forecast : YesThe Company conducted a five-for-one share consolidation of shares of common stock effective October 1, 2021.No figure is displayed for the annual dividend for the year ended March 31, 2022, as an appropriate figure cannot be arrivedat through simple addition. If the share consolidation is accounted for, the interim dividend for the year ended March 31, 2022, would be ¥45.00.3. Consolidated Earnings Forecast for the Year Ending March 31, 2023 (April 1, 2022 – March 31, 2023)Description of % is indicated as the change rate compared with the same period of the previous fiscal year.Profit attributable to owners of the CompanyFor the Year Ending March 31, 2023Full-yearMillions of Yen85,000%3.2Note :Basic earnings per share is calculated based on profit attributable to owners of the Company.Basic earningsper shareYen368.244. Others(1) Changes in major subsidiaries during the period (Changes in specified subsidiaries accompanying changes in scope of consolidation) : No(2) Accounting policy changes and accounting estimate changes 1. Changes in accounting policies required by IFRS : No2. Changes due to other reasons : No3. Accounting estimate change : No(3) Number of outstanding shares at the end of the periods (common stock): 1. Number of issued shares at the end of the periods (including treasury stock): As of March 31, 2022: 250,299,900As of March 31, 2021: 250,299,9002. Number of treasury stock at the end of the periods:As of March 31, 2022 : 19,470,556As of March 31, 2021 : 10,480,8643. Average number of issued shares during the periods:For the Year ended March 31, 2022 (accumulative): 233,464,995For the Year ended March 31, 2021 (accumulative): 239,952,082The above figures for treasury shares do not include shares held as part of mutual holdings with investments accounted forusing the equity method.The trust account holds stock of the Company’s stock, which are treated as treasury stock; 1,003,203 stocks in the financialyear ended March 2022 and 309,595 stocks in the financial year ended March 2021.(Reference) Non-consolidated Financial ResultsFiscal Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)(1) Non-consolidated Operating ResultsRevenue Operating profitOrdinary incomeProfitDescription of % is indicated as the change rate compared with the last year.For the year endedMarch 31, 2022March 31, 2021Millions of Yen678,2622,334,428%-(3.2)Millions of Yen(11,244)(13,236)%–Millions of Yen55,54335,345%57,1(5.7)Millions of Yen50,38939,462%27.722.9Earnings per shareDiluted earningsper shareFor the year endedMarch 31, 2022March 31, 2021Yen215.83164.46Yen–(2)Non-consolidated Financial PositionTotal assetsNet assetsEquity ratioNet assets per shareFor the year endedMarch 31, 2022March 31, 2021Millions of Yen1,683,2671,500,259Millions of Yen460,636420,405%27.428.0Yen1,995.571,753.01(Reference) Total equity: As of March 31, 2022: 460,636 million yen As of March 31, 2021: 420,405 million yenNotes:1. Effective April 1, 2021, Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No.29, March 31, 2020) has been applied, changing the method of calculation used for revenue.However, these accounting standards have not been applied from the beginning of the fiscal year ended March 31, 2021, sothat comparison with the prior year is not available.2. Effective October 1, 2021, the Company conducted a five-for-one share consolidation of common shares of stock. Figuresfor earnings per share and net assets per share are calculated based on the assumption that this stock consolidation wasconducted with an effective date of April 1, 2020.**This summary of consolidated financial results is not subject to audits by certified public accountants or the accountingauditor.Important Note Concerning the Appropriate Use of Business Forecasts and other :This document contains forward-looking statements based on information available to the company at the time ofdisclosure and certain assumptions that management believes to be reasonable. The company makes no assurancesas to the actual results and/or other outcomes, which may differ substantially from those expressed or implied byforward-looking statements due to various factors including changes in economic conditions in key markets, both inand outside of Japan, and exchange rate movements. The Company will provide timely disclosure of any materialchanges, events, or other relevant issues.Supplementary materials on financial results can be found on the Company’s web site. The company will hold an IRmeeting on financial results for the year ended March 31, 2022 for analysts and institutional investors on May 2, 2022.Contents (materials and videos) of the meeting and condensed transcript of Q&A session will be posted on our thecompany’s site immediately after the meeting.1. Analysis of Business Results(1) Overview of Fiscal Year 2021 (April 1, 2021March 31, 2022) Economic Environment In the year ended March 31, 2022, increasingly strong downward pressure was placed on the global itary invasion of Ukraine and the economic sanctions placed on Russia in response to this act. At the same time, the operating environment was plagued by a myriad of factors requiring careful attention. Such factors included resumed increases in COVID-19 cases, soaring resource prices, supply restrictions and inflation resulted from supply chain disruptions, and rapid interest rate increases and yen deprecation triggered by the monetary tightening measures of the central banks of several countries. In the United States, it is projected that asset downsizing will be practiced in light of the interest rate hikes kicked off by the Federal Reserve Board in March 2022 and the quantitative tightening measures scheduled to start in May of this year. Moreover, the situation in Ukraine is expected to contribute to the prolongation of high inflation rates while prompting the United States to implement aggressive measures for combatting said inflation. Looking ahead, caution is needed with regard to the impacts on the U.S. economy from the rising burden of interest payments, whether this pertains to the public sector or the private sector. In Europe, the European Central Bank is taking an unprecedently cautious stance in its response toward inflation. In addition, European countries are implementing increasingly harsh sanctions on Russia. At the same time, however, these countries are also highly dependent on crude oil and gas produced in Russia, a situation that is expected to have an adverse impact on the value chains of the manufacturing industry and a wide range of other industries. China continues to implement lockdowns across the country in an effort to contain COVID-19. Meanwhile, there is a push to strengthen regulations on certain Chinese companies based on the goal of reducing income disparities. Such trends bring with them concern for downturns in investments. At the same time, careful attention is warranted with regard to the economic stimulus measures to be implemented in relation to infrastructure investments and tax breaks for small and medium-sized enterprises leading up to the meeting of the National Congress of the Chinese Communist Party scheduled for November 2022. The Asian economy showed a recovery from the impacts of the COVID-19 pandemic, and this region is thus anticipated to see an GDP growth rate of around 5% in 2022. As COVID-19 vaccination progresses in Asian countries, it can be expected that the economies of these countries will be supported by the benefits of relaxed inbound travel restrictions, strong exports, and brisk recoveries in domestic demand. However, there is concern for the potential prolongation of inflation trends, currency depreciation, financing issues, and other repercussions of the situation in Ukraine. In Japan, caution is required with regard to risks associated with a potential impact over the recovery of production and exports of major industrial products, such as the protracted supply chain disruptions. At the Bank of Japanheld in March 2022, it was decided that Japan would take a different path from other countries by continuing its prior monetary easing measures. Accordingly, there is concern that further yen depreciation may occur going forward due to the ongoing widening of the gap in interest rates between the United States and Japan as well as structural changes in the balance of Japanfinances. 1Financial Performance Revenue Gross profit Profit before tax Profit for the year Comprehensive income for the year the year ended March 31, 2022 are presented below. Revenue was up 31.1% year on year, to ¥2,100,752 million, due to higher revenue in the Metals, Mineral Resources & Recycling Division, a result of; in the Chemicals Division, a result of higher methanol prices and growth in plastic resin transactions; and in the Automotive Division, a result of increased sales volumes in overseas automotive businesses. Gross profit was up ¥83,199 million year on year to ¥271,319 million, due to higher revenue in the Metals, Mineral Resources & Recycling Division, a result of higher prices for coal; in the Chemicals Division, a result of higher methanol prices and growth in plastic resin transactions; and in the Automotive Division, a result of increased sales volumes in overseas automotive businesses. Profit before tax was up ¥79,875 million year on year, to ¥117,295 million, as a result of increases in gross profit and share of profit of investments accounted for using the equity method. After deducting income tax expenses of ¥31,824 million from profit before tax of ¥117,295 million, profit for the year amounted to ¥85,471 million, up ¥56,054 millionyear on year. Profit for the year (attributable to owners of the Company) increased¥55,331 million year on year, to ¥82,332 million.Comprehensive income for the year of ¥148,588 million was recorded, up ¥85,621million year on year, following an increase in financial assets at fair value throughother comprehensive income along with more beneficial foreign currency translationdifferences for foreign operations. Comprehensive income for the year (attributableto owners of the Company) was ¥142,429 million, an increase of ¥83,318 million.Fiscal Year 2021 Results(A) Fiscal Year2020 Results(B) Difference (A)-(B) Revenue 2,100,752 1,602,485 498,267 Gross profit 271,319 188,120 117,295 85,471 37,420 29,417 83,199 79,875 56,054 82,332 27,001 55,331 148,588 62,967 85,621 Profit before tax Profit for the year Profit for the year attributable to owners of the Company Comprehensive income for the year (In Millions of Yen) Percentage difference (%) 31.1 44.2 213.5 190.5 204.9 136.0 Results for the year ended March 31, 2022, are summarized by segment below. Effective April 1, 2021, the Machinery & Medical Infrastructure Division, Energy & Social Infrastructure Division, and part of the Industrial Infrastructure & Urban Development Division were reorganized into the Infrastructure & Healthcare Division. The Foods & Agriculture Business Division, Retail & Lifestyle Business Division, and part of the Industrial Infrastructure & Urban Development Division were reorganized into the 2Consumer Industry & Agriculture Business Division and the Retail & Consumer Service Division. The Metals & Mineral Resources Division was renamed the Metals, Mineral Resources & Recycling Division. In addition, the car and motorcycle parts, ship equipment, industrial machinery, forefront industry business, bearing, and nuclear power-related equipment businesses previously included in the Automotive Division, the Aerospace & Transportation Project Division, the Machinery & Medical Infrastructure Division, and the Energy & Social Infrastructure Division were transferred to the Others segment . Automotive Revenue was up 35.1% year on year to ¥243,051 million, due to higher sales volumes in overseas automobile transactions. Profit for the period (attributable to owners of the Company) rose by ¥5,989 million, to ¥7,083 million, as a result of an increase in gross profit. Aerospace & Transportation Project Revenue was up 175.7% year on year to ¥70,020 million, due to the acquisition of higher revenue in aircraft transactions and recovery of shipping market conditions. Profit for the period (attributable to owners of the Company) increased by ¥2,847 million to ¥4,687 million, as a result of an increase in gross profit. Infrastructure & Healthcare Revenue was down 0.9% year on year to ¥61,794 million, despite an increase in revenue at gas sales company due to decrease in revenue from overseas fired power project. Profit for the period (attributable to owners of the Company) decreased ¥1,596 million to ¥6,624 million, despite an increase in share of profit of investments accounted for using the equity method, as loss on reorganization of subsidiaries / associates of overseas telecommunication infrastructure business was recorded and gross profit decreased. Metals, Mineral Resources & Recycling Revenue was up 57.3% year on year to ¥56,0460 million, due to higher prices for coal and precious metals. Profit for the period (attributable to owners of the Company) increased by ¥35,829 million to ¥34,068 million, as a result of an increase in gross profit as well as an increase in share of profit of investments accounted for using the equity method associated with higher profit of steel operating company. Chemicals Revenue was up 32.3% year on year, to ¥538,299 million, due to growth in plastic resin transactions and higher methanol prices. Profit for the period (attributable to owners of the Company) increased by ¥12,630 million to ¥6,861 million, as a result of an increase in gross profit. Consumer Industry & Agriculture Business Revenue was up 23.7% year on year, to ¥291,755 million, due to higher prices in lumber transactions and overseas fertilizer businesses. Profit for the period (attributable to owners of the Company) increased by ¥1,782 million to ¥6,385 million, as a result of an increase in gross profit.Retail & Consumer Service Revenue was up 8.0% year on year to ¥214,586 million, due to higher sales prices in meat transaction. Profit for the period (attributable to owners of the Company) increased by ¥131 million to ¥5,040 million, due to an increase in gross profit despite other income was down due to absence of gains from sale of shopping mall recorded in the previous equivalent period. 3(2) Financial Position Consolidated Balance Sheet Total assets on March 31, 2022, were ¥2,661,680 million, up ¥361,565 million from March 31, 2021, following the increase in trade and other receivables under current assets associated with chemicals and building materials, and an increase in investments accounted for using the equity method following new acquisition. Total liabilities on March 31, 2022, amounted to ¥1,897,802 million, up ¥252,326 million from March 31, 2021, as results of an increase in trade and other payables under current liabilities associated with chemicals and building materials and an increase in interest-bearing debt attributable to new borrowings. Total equity attributable to owners of the Company was ¥728,012 million on March 31, 2022, up ¥108,901 million from March 31, 2021. This increase was due to the accumulation of profit for the year (attributable to owners of the Company), and an increase in other components of equity resulted primarily from foreign exchange rate and stock price fluctuations. Consequently, on March 31, 2022, the current ratio was 155.3%, the long-term debt ratio was 78.0%, and the equity ratio was 27.4%. Net interest-bearing debt (total interest-bearing debt less cash and cash equivalents and time deposits) totaled ¥770,291 million on March 31, 2022, ¥159,613 million increase from March 31, 2021. This resulted in the Com (*) The equity ratio and net debt equity ratio are calculated based on total equity attributable to owners of the Company. Lease liabilities have been excluded from aforementioned total interest-bearing debt. Under Medium-Term Management Plan 2023, the Sojitz Group continues to advance financial strategies in accordance with the basic policy of maintaining and enhancing the stability of its capital structure. In addition, Sojitz has endeavored to maintain a stable financial foundation by holding sufficient liquidity as a buffer against changes in the economic or financial environment and by keeping the long-term debt ratio at a certain level. As one source of long-term funding, Sojitz issued ¥10 billion straight bonds in May 2021. Sojitz will continue to closely monitor interest rates and market conditions and will consider floating additional issues whenever the timing and associated costs prove advantageous. As supplemental sources of procurement flexibility and precautionary liquidity, Sojitz maintains a ¥100 billion long-term commitment line (which remains unused) and a long-term commitment line totaling US$2.025 billion (of which US$1.42 billion has been used). The amount of the U.S. dollar-denominated commitment line was increased by US$0.225 billion in the year ended March 31, 2022. 6 times at March 31, 2022. (3) Consolidated Cash Flows In the year ended March 31, 2022, operating activities provided net cash flow of ¥65,084 million, investing activities used net cash of ¥138,819 million, and financing activities used net cash of ¥46,898 million. Sojitz ended the year with cash and cash equivalents of ¥271,651 million, adjusted to reflect foreign currency translation adjustments related to cash and cash equivalents. (Cash flows from operating activities) Net cash provided by operating activities amounted to ¥65,084 million, consisted of business earnings and dividends received, etc. It was down ¥19,888 million year on year. 4(Cash flows from investing activities) Net cash used in investing activities totaled ¥138,819million, up ¥103,143 million year on year, as a result of aircraft transactions and investment for energy conservation business in the U.S. and processed marine products company. (Cash flows from financing activities) Net cash used in financing activities amounted to ¥46,898 million, up ¥87,519 million year on year. This outcome was primarily a result of proceeds from borrowings, which offset outflows for dividends paid and acquisition of treasury stock. (4) Consolidated Earnings Forecast ¥ 85.0 billion Profit for the year (attributable to owners of the Company) The above forecast assumes a yen/dollar rate of ¥115/US$. *Caution regarding Forward-looking Statements This document contains forward-looking statements based on information available to the Company at the time of disclosure and certain assumptions that management believes to be reasonable. Actual results may differ materially based on various factors including the timing at which the COVID-19 pandemic ends; changes in economic conditions in key markets, both in and outside of Japan; and exchange rate movements. The Company will provide timely disclosure of any material changes, events, or other relevant issues. 5(5) Dividend Policy and Fiscal 2021-22 Dividends icy and top management priority is to pay stable dividends to shareholders on an ongoing basis, and to commit to enhancing shareholder value and improving its competitiveness by accumulating and effectively utilizing earnings. Under the Medium-Term Management Plan 2023, the basic dividend policy is to maintain a consolidated payout ratio of around 30%. Lower limit for dividends is set as representing market price-based DOE (*1) of 4% until PBR reaches 1.0 times and book value-based DOE (*2) of 4% after PBR reaches 1.0 times. Year-End Dividend The year-end dividend for the year ended March 31, 2022, is to be decided as follows based on a comprehensive evaluation business results, total equity, and other factors. 1) Type of property to be distributed as dividends Cash 2) Total value of dividend distribution and its allocation among shareholders ¥61 per share of Sojitz common stock, ¥14,141 million in total For the year ended March 31, 2022, Sojitz will issue annual dividend payments of ¥106 per share, when including the interim dividend of ¥45 per share made on December 1, 2021. This will make for total dividend payments of ¥24,546 million and a consolidated dividend payout ratio of 30.1% along with a market price-based dividend on equity of 6.1%, surpassing the defined minimum level of 4%. 3) Effective date of dividends from surplus June 20, 2022 FY2022 Dividends In the year ending March 31, 2023, Sojitz plans to pay an annual dividend of ¥112 per share (interim dividend of ¥56 plus year-end dividend of ¥56) based on its basic policy and earnings forecast. This amount will equate to a consolidated payout ratio of 30.4% of the forecast for profit for the year (attributable to owners of the Company) (*1) Price-based DOE = Dividend of per share / Stock price ( Average of last price at the end of fiscal year) (*2) Book value-based DOE = Dividend of per share / Total equity per share attributable to owners of the Company ( At the end of fiscal year) (*3) Sojitz conducted a five-for-one share consolidation of common shares of stock effective October 1, 2021. 678 (1) 9(2)1011 12 1314 15 16 17 18 19the Sixth Consecutive YearGeneral Employer Action Plan (April 2021 – March 2024) established in accordance withJapan’s Act on Promotion of Women’s Participation and Advancement in the Workplace20 21 2223244. Basic Policy Regarding Selection of Accounting Standards Sojitz Corporation has adopted International Financial Reporting Standards (IFRS) to improve the convenience and international comparability of its financial information and to standardize accounting treatments within the Group. 255. Consolidated Financial Statements (1) Consolidated Statement of Financial PositionAssetsCurrent assetsCash and cash equivalentTime depositsTrade and other receivablesDerivativesInventoriesIncome tax receivablesOther current assetsSubtotalAssets as held for saleTotal current assetsNon-current assetsProperty, plant and equipmentRight of use assetsGoodwillIntangible assetsInvestment propertyInvestments accounted for using the equitymethodTrade and other receivablesOther investmentsDerivativesOther non-current assetsDeferred tax assetsTotal non-current assetsTotal assetsLiabilities and equityLiabilitiesCurrent liabilitiesTrade and other payablesLease liabilitiesBonds and borrowingsDerivativesIncome tax payablesProvisionsOther current liabilitiesSubtotalLiabilities directly related to assets held forsaleTotal current liabilitiesNon-current liabilitiesLease liabilitiesBonds and borrowingsTrade and other payablesDerivativesRetirement benefits liabilitiesProvisionsOther non-current liabilitiesDeferred tax liabilitiesTotal non-current liabilitiesTotal liabilitiesEquityShare capitalCapital surplusTreasury stockOther components of equityRetained earningsTotal equity attributable to owners of the CompanyNon-controlling interestsTotal equityTotal liabilities and equityFY 2020(As of March 31, 2021)(In millions of Yen)FY 2021(As of March 31, 2022)287,59710,059636,1864,734187,8913,11664,9241,194,5118921,195,403191,29272,82167,20161,49811,603433,02989,747157,817311,8047,8901,104,7112,300,115475,97816,778158,5956,1935,8513,22668,130734,754734,75460,460749,7396,13665621,89641,7259,63620,470910,7221,645,476160,339146,814(15,854)77,772250,039619,11135,527654,6392,300,115271,65110,782791,46610,743232,7881,05168,3821,386,8677,3521,394,220201,51669,66182,52285,03113,261490,320118,273183,3101,94313,0128,6071,267,4602,661,680545,96317,427231,2168,61419,0074,13771,259897,627897,62757,836821,5088,20311723,93047,9518,89131,7341,000,1741,897,802160,339147,027(31,015)136,747314,913728,01235,866763,8782,661,68026(2) Consolidated Statement of Profit or Loss Sales of service and othersRevenue Sale of goods Total revenueCost of salesGross profitSelling, general and administrative expensesOther income(expenses)Gain(loss) on sale and disposal of fixed assets, netImpairment loss on fixed assetsGain on reorganization of subsidiaries/associatesLoss on reorganization of subsidiaries/associatesOther operating incomeOther operating expensesTotal other income/expensesFinancial incomeInterests earnedDividends received Other financial incomeTotal financial incomeFinancial costsInterest expensesTotal financial costProfit before taxIncome tax expensesProfit for the yearProfit attributable to:Owners of the CompanyNon-controlling interestsTotalShare of profit(loss) of investments accounted forusing the equity methodFY 2020(From April 1, 2020to March 31, 2021)(In millions of Yen)FY 2021(From April 1, 2021to March 31, 2022)1,512,72789,7581,602,485(1,414,365)188,120(161,080)2,860(5,470)3,923(2,128)8,005(8,327)(1,137)5,4183,034538,506(11,774)(11,774)14,78637,420(8,002)29,41727,0012,41629,4171,998,218102,5342,100,752(1,829,433)271,319(180,314)6,702(2,637)6,060(18,215)7,357(13,052)(13,784)7,4255,06382813,317(11,210)(11,210)37,968117,295(31,824)85,47182,3323,13885,47127(3) Consolidated Statement of Profit or Loss and other Comprehensive IncomeFY 2020(From April 1, 2020to March 31, 2021)(In millions of Yen)FY 2021(From April 1, 2021to March 31, 2022)29,41785,471Profit for the yearOther comprehensive incomeItems that will not be reclassified to profit or lossFinancial assets measured at fair value throughother comprehensive incomeRemeasurements of defined benefit pension plansShare of other comprehensive income of investmentsaccounted for using the equity methodTotal items that will not be reclassifiedto profit or lossItems that may be reclassified subsequentlyto profit or lossForeign currency translation differences forforeign operationsCash flow hedgesShare of other comprehensive income of investmentsaccounted for using the equity methodTotal items that may be reclassified subsequentlyto profit or lossOther comprehensive income for the year, net of taxTotal comprehensive income for the yearTotal comprehensive income attributable to:Owners of the CompanyNon-controlling interestsTotal13,4604421,98215,88517,5904,815(4,741)17,66433,54962,96759,1113,85662,96718,533(258)(10,743)7,53034,7971,67719,11155,58763,117148,588142,4296,159148,58828(4) Consolidated Statements of Changes in EquityAttributable to owners of the Company(In Millions of Yen)Other components of equityForeign currencytranslationdifferences forforeignoperationsFinancial assetsat fair valuethrough othercomprehensiveincomeCash flowhedgesShare capitalCapitalsurplusTreasurystockBalance as of April 1, 2020160,339146,756(10,901)(29,975)86,513(6,760)Profit for the periodOther comprehensive income Total comprehensive in come for the periodPurchase of treasury stockDisposition of treasury stockDividendsChange in ownership interests insubsidiaries without loss/acquisition ofcontrolReclassification from other components ofequity to retained earningsOther changes Total contributions by and distributions to owners of the Company13,80015,08113,80015,0812,6302,630(1)(5,000)(47)47156534(0)(4,208)Share remuneration payment transaction108Balance as of March 31, 2021160,339146,814(15,854)(16,018)97,920(4,129)58(4,953)(3,674)Attributable to owners of the CompanyOther components ofequityRemeasurementsof defined benefitpension plansTotal othercomponents of equityRetainedearningsTotal equityattributable toowners of theCompanyNon-controllinginterestsTotal equityBalance as of April 1, 2020Profit for the period49,777233,151579,12342,774621,89827,001Other comprehensive income59732,109Total comprehensive income for the period59732,10927,00159,1112,4161,4393,85627,00132,109(5,002)108429,41733,54962,967(5,002)108(16,381)(16,381)(3,249)(19,630)6901,4572,147(5,684)(3,536)(597)(4,805)4,805Purchase of treasury stockDisposal of treasury stockDividendsChange in ownership interests insubsidiaries without loss/acquisition ofcontrolReclassification from other components ofequity to retained earningsShare remuneration payment transactionOther changes4(2,170)(2,165)Total contributions by and distributions to owners of the Company(597)(4,115)(10,113)(19,123)(11,103)(30,227)Balance as of March 31, 202177,772250,039619,11135,527654,63929Share capitalCapital surplus Treasury stockBalance as of April 1, 2021160,339146,814(15,854)(16,018)97,920(4,129)Attributable to owners of the Company(In Millions of Yen)Other components of equityForeigncurrencytranslationdifferences forforeignoperationsFinancial assetsat fair valuethrough othercomprehensiveincomeCash flowhedges48,04648,0467,3647,3644,8294,829(9)(12)(15,173)12(712)(552)Profit for the periodOther comprehensive income Total comprehensive income for the periodPurchase of treasury stockDisposition of treasury stockDividendsChange in ownership interests insubsidiaries without loss/acquisition ofcontrolPut options granted to non-controllinginterestsReclassification from other components ofequity to retained earningsOther changes Total contributions by and distributions to owners of the CompanyShare remuneration payment transaction235Balance as of March 31, 2022160,339147,027(31,015)31,314104,732699212(15,160)(712)(552)Attributable to owners of the CompanyOther components of equityRemeasurements ofdefined benefitpension plansTotal othercomponents ofequityRetainedearningsTotal equityattributable toowners of theCompanyNon-controllinginterestsTotal equityBalance as of April 1, 202177,772250,039619,11135,527654,639Profit for the periodOther comprehensive income60,09682,33282,33260,0963,1383,02185,47163,117Total comprehensive income for the period60,09682,332142,4296,159148,588(143)(143)Purchase of treasury stockDisposal of treasury stockDividendsChange in ownership interests insubsidiaries without loss/acquisition ofcontrolPut options granted to non-controllinginterestsReclassification from other components ofequity to retained earningsShare remuneration payment transaction(15,183)(15,183)(16,408)(16,408)(4,577)(20,986)(712)1,9791,266(2,468)(1,201)(3,571)(3,571)(3,571)143(409)409Other changes1331,225Total contributions by and distributions toowners of the Company143(1,121)(17,458)(33,528)(5,820)(39,349)Balance as of March 31, 2022136,747314,913728,01235,866763,8782351332351,35830(5) Consolidated Statement of Cash FlowsCash flows from operating activitiesProfit for the yearDepreciation and amortizationImpairment loss on fixed assetsFinance (income) costsShare of (profit)loss of investments accounted forusing the equity method(Gain) loss on sale of fixed assets, netIncome tax expenses(Increase) decrease in trade and other receivables(Increase) decrease in inventoriesIncrease (decrease) in trade and other payablesChanges in other assets and liabilitiesIncrease (decrease) in retirement benefits liabilitiesOthersSubtotalInterests earnedDividends receivedInterests paidIncome taxes paidNet cash provided (used) by/in operating activitiesCash flows from investing activitiesPurchase of property, plant and equipmentProceeds from sale of property, plant and equipmentPurchase of intangible assets(Increase) decrease in short-term loans receivablePayment for long-term loans receivableCollection of long-term loans receivableProceeds from (payments for) acquisition of subsidiariesProceeds from (payments for) sale of subsidiariesPurchase of investmentsProceeds from sale of investmentsOthersNet cash provided (used) by/in investing activitiesCash flows from financing activitiesIncrease (decrease) in short-term borrowings and commercial papersProceeds from long-term borrowings Repayment of long-term borrowings Proceeds from issuance of bondsRedemption of bondsRepayment of lease liabilitiesinterest holdersProceeds from non-controlling interest holdersSales of treasury stockPurchase of treasury stockDividends paidDividends paid to non-controlling interest holdersOthersNet cash provided (used) by/in financing activitiesNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at the beginning of the yearEffect of exchange rate changes on cash and cash equivalentsCash and cash equivalents at the end of the yearFY 2020(From April 1, 2020to March 31, 2021)(In millions of Yen)FY 2021(From April 1, 2021to March 31, 2022)29,41731,8505,4703,268(14,786)(2,860)8,0021,16229,878(14,948)8,696(17)(122)85,0133,36518,198(12,199)(9,405)84,972(23,889)12,084(6,774)278(4)1,162(4,349)5,990(31,364)9,4841,704(35,676)(22,969)172,645(149,769)9,940(10,011)(14,235)(3,172)1,1868(5,000)(16,381)(2,878)15(40,621)8,674272,6516,271287,59785,47134,2792,637(2,106)(37,968)(6,702)31,824(96,092)(26,026)52,0316,950(495)14,48658,28812,14217,799(11,961)(11,184)65,084(18,370)10,287(8,700)1,430(10,360)6,219(35,749)7,485(58,097)24,381(57,346)(138,819)54,245270,356(214,740)9,940(20,003)(15,085)(1,875)4183(15,173)(16,408)(4,710)(66)46,898(26,835)287,59710,890271,65131(6) Assumption for Going Concern : None 32(7) Segment informationInformation regarding reportable segmentsMain products and services of reportable segments are in 2.Group Business Operations. The accounting method for the reported business segments are basically consistent with those used in the Consolidated Financial Statements, except with respect to the calculation of income tax expenses. Prices for intersegment transactions are determined in the same way as general transactions and with reference to market prices.AutomotiveAerospace &TransportaionProject(In millions of Yen)Reportable segmentsMetals,MineralResources &Recyclig Infrastructure& HealthcareChemicalsConsumerIndustry &AgricultureBusiness179,92225,398356,211406,765235,88262,3692,86765,23719,3849,64725,39812,455(216)-356,211124,4314,7141406,76637,31213235,89627,3536666131,8408,220(1,761)5,7694,603151,428152,979337,230476,175272,299210,31913,056121,252236,87611,20714,3991,4426,4394,9722,9361,417Revenue External revenue Inter-segment revenueTotal revenueGross profitShare of profit (loss) of investmentsaccounted for using the equity methodProfit attributable to owners of theCompanySegment assetsOthers:Investment accounted for using theequity methodCapital expenditure179,92232,531(868)1,0944,6717,239Reportable segmentsRetail &ConsumerserviceTotalOthersReconciliationsConsolidated198,6941,465,244137,241418199,11227,649(149)4,9093,3001,468,545169,119138137,37920,97414,40837824,6761,395(3,439)(3,439)(1,973)(0)9291,602,4851,602,485188,12014,78627,001337,0261,937,460319,08143,5732,300,115Revenue External revenue Inter-segment revenueTotal revenueGross profitShare of profit (loss) of investmentsaccounted for using the equity methodProfit attributable to owners of theCompanySegment assetsOthers:Investment accounted for using theequity methodCapital expenditure2,01426,47244,74721,310422,773(4)433,02910,26018,275 Reconciliation of segment profit of 929 million yen includes the difference between the Company’s actual income tax expenses and income taxexpenses allocated to each segment based on the calculation method established internally, which amounted to 529 million yen, and unallocateddividend income and others of 399 million yen. The reconciliation amount of segment assets of 43,573 million yen includes elimination of inter-segment transactions or the like amounting to (164,014)million yen, and all of the Companies’ assets that were not allocated to each segment, amounting to (207,588) million yen, which mainly consists of theCompany’s surplus funds in the form of cash in bank or the like for investments and marketable securities or the like. Capital expenditure includes amount related to usage rights assets.33AutomotiveAerospace &TransportaionProject(In millions of Yen)Reportable segmentsMetals,MineralResources &Recyclig Infrastructure& HealthcareChemicalsConsumerIndustry &AgricultureBusiness243,051-243,05145,63576270,0201070,03016,157(395)61,7943,22065,01518,99913,806560,460538,299291,755-560,46060,03521,4894538,30450,72519291,77431,2647068757,0834,6876,62434,06812,6306,385191,809218,035421,050511,464320,476245,047Revenue External revenue Inter-segment revenueTotal revenueGross profitShare of profit (loss) of investmentsaccounted for using the equity methodProfit attributable to owners of theCompanySegment assetsOthers:Investment accounted for using theequity methodCapital expenditure5,5735,77620,089170,002226,62112,32114,8451,4184,0474,0691,2232,221Reportable segmentsRetail &ConsumerserviceTotalOthersReconciliationsConsolidated214,5861,979,967120,785-2,100,752364214,95031,2963,6191,983,586254,115(3,842)(3,842)(2,142)-2,100,752271,319(19)37,223(1)37,968223121,00819,3467458445,04076,5204,96782,332420,5272,328,411336,199(2,929)2,661,680Revenue External revenue Inter-segment revenueTotal revenueGross profitShare of profit (loss) of investmentsaccounted for using the equity methodProfit attributable to owners of theCompanySegment assetsOthers:Investment accounted for using theequity method29,845479,300Capital expenditure2,01720,77411,02522,388(5)-490,32043,163 Reconciliation of segment profit of 4,967 million yen includes the difference between the Company’s actual income tax expenses and income taxexpenses allocated to each segment based on the calculation method established internally, which amounted to 4,182 million yen, and unallocateddividend income and others of 785 million yen. The reconciliation amount of segment assets of (2,929) million yen includes elimination of inter-segment transactions or the like amounting to (172,750)million yen, and all of the Companies’ assets that were not allocated to each segment, amounting to 169,820 million yen, which mainly consists of theCompany’s surplus funds in the form of cash in bank or the like for investments and marketable securities or the like. Capital expenditure includes amount related to usage rights assets.(Changes in Reportable Segments)Due to the reorganization effective April 1, 2021, the Machinery & Medical Infrastructure Division, the Energy & Social Infrastructure Division, and theIndustrial Infrastructure & Urban Development were reorganized to the Infrastructure & Healthcare Division. The Foods & Agriculture Business Division,and the Retail & Lifestyle Business Division were reorganized to the Consumer Industry & Agriculture Business Division, and the Retail & ConsumerService Division. The Metals & Mineral Resources Division was renamed the Metals, Mineral Resources & Recycling Division. In addition, the car andmotorcycle parts, ship equipment, industrial machinery, forefront industry business, bearing, and nuclear power-related equipment businesses previouslyincluded in the Automotive Division, the Aerospace & Transportation Project Division, the Machinery & Medical Infrastructure Division, and the Energy &Social Infrastructure Division were transferred to the Others segment .Segment information for the year ended March 31, 2022, has been restated to reflect the change in reportable segments.34(Earnings per share)(1) Basic earnings per share and diluted earnings per share Basic earnings per share (yen)Diluted earnings per share (yen)(2) Bases for calculation of basic earnings per share and diluted earnings per shareFY 2020(From April 1, 2020to March 31, 2021)FY 2021(From April 1, 2021to March 31, 2022)112.53112.53352.65352.65FY 2020(From April 1, 2020to March 31, 2021)FY 2021(From April 1, 2021to March 31, 2022)Profit used to calculate basic and diluted earnings pershareProfit for the year, attributable to owners of theCompany (In millions of yen)Amount not attributable to the ordinaryshareholders of the Company (In millions of yen)Profit used to calculate basic earnings per share(In millions of yen)Profit adjustment amountAdjustment amount concerning share options tobe issued by associates (In millions of yen)Profit used to calculate diluted earnings per share (In millions of yen)Weighted average number of ordinary shares to be usedto calculate basic and diluted earnings per shareWeighted average number of ordinary shares to beused to calculate basic earnings per share(In thousands of shares)Effects of dilutive latent ordinary shares(In thousands of shares)Weighted average number of ordinary shares used tocalculate diluted earnings per share(In thousands of shares)27,00182,33227,00182,33227,00182,332239,952233,464239,952233,464NoteThe Company conducted a five-for-one share consolidation of common shares of stock effectiveOctober 1, 2021. Basic earnings per share and diluted earnings per share have been calculated basedon the assumption that the share consolidation had been conducted on April 1, 2021.(Important Subsequent Event)None.35