ヤマタネ（9305） – [Delayed]Consolidated Financial Results for the Fiscal Year Ended March 31, 2022[Japanese GAAP]

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 [Japanese GAAP] May 13, 2022 Company name: Stock exchange listing: Securities code: URL: Representative: Contact: Yamatane Corporation Tokyo Stock Exchange 9305 https://www.yamatane.co.jp Motohiro Yamazaki, Representative Director, President Ichiro Tasaki, General Manager, Accounting & Finance Department, Administration Division +81-3-3820-1111 Phone: Scheduled date for annual general meeting of shareholders: Scheduled date for commencing dividend payments: Scheduled date for filing annual securities report: Preparation of supplementary financial results briefing materials: Holding of financial results briefing: June 21, 2022 June 6, 2022 June 21, 2022 Yes Yes (Amounts of less than one million yen are truncated.) 1. Consolidated financial results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022) (1) Consolidated operating results Net sales Operating profit Ordinary profit (% indicates year-on-year change) Profit attributable to owners of parent Fiscal year ended March 31, 2022 March 31, 2021 Million yen 46,765 48,690 % Million yen 3,002 ― 3,302 (11.1) % Million yen 2,655 3,142 (9.1) 0.5 % Million yen 1,832 2,042 (15.5) 6.8 % (10.3) 11.9 Note: Comprehensive income: Fiscal year ended March 31, 2022: ¥3,454 million [ 37.0 %] Fiscal year ended March 31, 2021: ¥2,521 million [ 69.6 %] Basic earnings per share Diluted earnings per share Return on equity Fiscal year ended March 31, 2022 March 31, 2021 Yen 177.53 197.86 Reference: Share of profit of entities accounted for using equity method: Yen ― ― % 4.4 5.2 Ordinary profit to total assets ratio Operating profit to net sales ratio % 2.2 2.7 % 6.4 6.8 Fiscal year ended March 31, 2022: ¥— million Fiscal year ended March 31, 2021: ¥— million Note: The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. has been adopted from the beginning of the fiscal year under review. As a result, net sales reflect the adoption of the accounting standard, etc., and the year-on-year percentage change is not presented. (2) Consolidated financial position As of March 31, 2022 March 31, 2021 Total assets Net assets Equity ratio Million yen 123,425 123,279 Million yen 45,558 42,923 Net assets per share Yen 4,127.33 3,900.13 % 34.5 32.7 Reference: Equity: As of March 31, 2022: ¥42,608 million As of March 31, 2021: ¥40,264 million (3) Consolidated cash flows Fiscal year ended March 31, 2022 March 31, 2021 2. Dividends Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Million yen 4,242 4,044 Million yen (9,725) (6,333) Million yen (3,585) 8,924 Cash and cash equivalents at end of period Million yen 7,459 16,529 1st quarter-end Annual dividends per share Fiscal 3rd year-quarter-end end 2nd quarter- end Total cash dividends (total) Dividend payout ratio (consolidated) Total Fiscal year ended March 31, 2021 March 31, 2022 Fiscal year ending March 31, 2023 (Forecast) Yen ― ― Yen 0.00 25.00 Yen ― ― Yen 52.00 30.00 Yen 52.00 55.00 Million yen 536 567 ― 25.00 ― 31.00 56.00 Ratio of dividends to net assets (consolidated) % 1.4 1.4 % 26.3 31.0 40.7 3. Consolidated financial results forecast for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023) (% indicates year-on-year change) First half Full year Net sales Operating profit Ordinary profit Million yen 25,800 10.9 11.4 52,100 % Million yen 1,400 2,890 % Million yen 1,290 2,650 3.8 (3.8) Profit attributable to owners of parent % (3.6) (22.5) % Million yen 670 1,420 8.6 (0.2) Basic earnings per share Yen 64.90 137.54 * Notes: (1) Changes in significant subsidiaries during the current period (changes in specified subsidiaries resulting in a change in the scope of consolidation): None (2) Changes in accounting policies, changes in accounting estimates, and retrospective restatements 1) Changes in accounting policies due to application of revised accounting standards: Yes 2) Changes in accounting policies other than 1) above: None 3) Changes in accounting estimates: None 4) Retrospective restatements: None (3) Number of common shares issued 1) Number of shares issued at the end of the period (including treasury shares): As of March 31, 2022: 11,344,181 shares As of March 31, 2021: 11,344,181 shares 2) Number of treasury shares at the end of the period: As of March 31, 2022: 1,020,692 shares As of March 31, 2021: 1,020,355 shares 3) Average number of common shares during the period: Fiscal year ended March 31, 2022: 10,323,630 shares Fiscal year ended March 31, 2021: 10,323,994 shares [Reference] Overview of non-consolidated financial results 1. Non-consolidated financial results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022) (1) Non-consolidated operating results Net sales Fiscal year ended March 31, 2022 March 31, 2021 Operating profit Ordinary profit Profit (% indicates year-on-year change) Million yen 41,183 43,536 % Million yen 1,206 1,753 (5.4) (12.3) % Million yen 1,210 1,846 (31.2) (9.4) % Million yen 1,069 1,412 (34.5) (9.2) % (24.3) (1.2) Basic earnings per share Diluted earnings per share Yen 103.63 136.83 Yen ― ― (2) Non-consolidated financial position Fiscal year ended March 31, 2022 March 31, 2021 As of March 31, 2022 March 31, 2021 Reference: Equity: As of March 31, 2022: ¥37,450 million As of March 31, 2021: ¥36,358 million Total assets Net assets Equity ratio Million yen 87,146 84,736 Million yen 37,450 36,358 Net assets per share Yen 3,627.73 3,521.85 % 43.0 42.9 * These financial results are outside the scope of audits by certified public accountants or an audit firm. * Explanation on appropriate use of financial results forecasts and other matters of note – Financial results forecasts and other forward-looking statements provided in these materials are based on information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and actual financial results and other aspects of business performance may differ significantly from these forecasts owing to various factors. Please refer to “1. Overview of business performance (4) Future outlook” on page 4 of the Japanese version of the attached materials for conditions forming the basis for financial results forecasts, notes regarding the use of financial results forecasts, and other information. Consolidated Financial Statements (1) Consolidated Balance Sheet Assets Current assets Cash and deposits Notes and accounts receivable – trade Notes and accounts receivable – trade, and Previous fiscal year (As of March 31, 2021) 16,529 5,668 (Million yen) Fiscal year under review (As of March 31, 2022) contract assets Investments in leases Inventories Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Buildings and structures Accumulated depreciation Buildings and structures, net Land Construction in progress Other Accumulated depreciation Other, net Total property, plant and equipment Intangible assets Other Total intangible assets Investments and other assets Investment securities Deferred tax assets Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Deferred assets Bond issuance costs Total deferred assets Total assets 7,459 – 6,225 3,349 1,568 1,425 (2) 20,025 57,717 (30,315) 27,401 50,433 27 16,081 (7,284) 8,797 86,660 982 982 14,229 13 1,389 (36) 15,596 103,239 160 160 123,425 – 3,390 1,587 629 (0) 27,804 46,020 (29,081) 16,938 50,405 6,290 13,912 (6,840) 7,071 80,706 984 984 12,231 22 1,397 (96) 13,554 95,245 228 228 123,279 1 Liabilities Current liabilities Trade accounts payable Short-term borrowings Current portion of long-term borrowings Current portion of bonds payable Income taxes payable Other Total current liabilities Non-current liabilities Bonds payable Long-term borrowings Deferred tax liabilities for land revaluation Deferred tax liabilities Provision for environmental measures Retirement benefit liability Asset retirement obligations Other Total non-current liabilities Total liabilities Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Revaluation reserve for land Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets Total liabilities and net assets Previous fiscal year (As of March 31, 2021) (Million yen) Fiscal year under review (As of March 31, 2022) 2,916 4,406 5,154 4,186 698 3,997 21,359 24,232 20,850 4,823 964 2 1,676 2,325 4,120 58,996 80,355 10,555 3,747 21,341 (2,233) 33,411 4,003 2,872 (24) 6,852 2,659 42,923 123,279 2,506 5,141 5,264 901 484 3,041 17,339 23,331 21,522 4,823 1,396 2 1,622 2,334 5,494 60,527 77,867 10,555 3,747 22,379 (2,234) 34,448 5,304 2,872 (17) 8,159 2,950 45,558 123,425 2 (2) Consolidated Statements of Income and Comprehensive Income Consolidated Statement of Income Operating revenue Operating costs Operating gross profit Selling, general and administrative expenses Operating profit Non-operating income Interest income Dividend income Compensation income Other Total non-operating income Non-operating expenses Interest expenses Commission for syndicated loans Amortization of bond issuance costs Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of investment securities Other Total extraordinary income Extraordinary losses Loss on retirement of non-current assets Impairment losses Other Total extraordinary losses Profit before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit Profit attributable to non-controlling interests Profit attributable to owners of parent Previous fiscal year (April 1, 2020 to March 31, 2021) (Million yen) Fiscal year under review (April 1, 2021 to March 31, 2022) 46,765 40,727 6,037 3,034 3,002 1 346 – 11 359 574 58 67 6 706 2,655 233 7 240 39 – – 39 2,856 1,004 (184) 820 2,036 203 1,832 48,690 42,067 6,623 3,320 3,302 2 355 83 21 463 553 2 65 3 624 3,142 244 4 248 71 120 0 192 3,198 1,094 (89) 1,004 2,193 151 2,042 3 Consolidated Statement of Comprehensive Income Profit Other comprehensive income Valuation difference on available-for-sale Remeasurements of defined benefit plans, net of securities tax Total other comprehensive income Comprehensive income Comprehensive income attributable to: Owners of parent Non-controlling interests Previous fiscal year (April 1, 2020 to March 31, 2021) (Million yen) Fiscal year under review (April 1, 2021 to March 31, 2022) 2,036 2,193 320 6 327 2,521 2,352 168 1,411 6 1,417 3,454 3,139 314 4 (3) Consolidated Statement of Changes in Equity Previous fiscal year (April 1, 2020 to March 31, 2021) Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Balance at beginning of period Changes during period 10,555 19,815 (2,233) Change in ownership interest of parent due to transactions with non-controlling interests Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Change in ownership interest of parent due to transactions with non-controlling interests Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period (Million yen) Total shareholders’ equity 31,885 ― (516) 2,042 (0) 1,526 33,411 (0) 40,943 ― (516) 2,042 (0) 453 1,979 42,923 (516) 2,042 6 6 (24) ― 10,555 ― 3,747 1,526 21,341 (0) (2,233) Valuation difference on available-for-sale securities 3,700 Accumulated other comprehensive income Revaluation reserve for land Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests 2,872 (30) 6,542 2,515 Total net assets 303 303 4,003 ― ― 2,872 309 309 6,852 143 143 2,659 3,747 ― 5 Fiscal year under review (April 1, 2021 to March 31, 2022) Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Balance at beginning of period Changes during period 10,555 21,341 (2,233) Change in ownership interest of parent due to transactions with non-controlling interests Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Change in ownership interest of parent due to transactions with non-controlling interests Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period (Million yen) Total shareholders’ equity 33,411 ― (794) 1,832 (0) 1,037 34,448 (0) 42,923 ― (794) 1,832 (0) 1,597 2,634 45,558 (794) 1,832 6 6 (17) ― 10,555 ― 3,747 1,037 22,379 (0) (2,234) Accumulated other comprehensive income Valuation difference on available-for-sale securities 4,003 Revaluation reserve for land Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests 2,872 (24) 6,852 2,659 Total net assets 1,300 1,300 5,304 ― ― 2,872 1,306 1,306 8,159 290 290 2,950 3,747 ― 6 (4) Consolidated Statement of Cash Flows Cash flows from operating activities Profit before income taxes Depreciation Impairment losses Increase (decrease) in allowance for doubtful accounts Increase (decrease) in retirement benefit liability Interest and dividend income Interest expenses Loss (gain) on sale of investment securities Loss (gain) on sale and retirement of property, plant and equipment and intangible assets Decrease (increase) in trade receivables Decrease (increase) in investments in leases Decrease (increase) in inventories Increase (decrease) in trade payables Decrease (increase) in advances paid Decrease (increase) in consumption taxes refund receivable Increase (decrease) in accounts payable – other Increase (decrease) in accrued expenses Increase (decrease) in accrued consumption taxes Increase (decrease) in guarantee deposits received Other, net Subtotal Interest and dividends received Proceeds from compensation for forced relocation Interest paid Income taxes paid Income taxes refund Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of investment securities Proceeds from sale of investment securities Purchase of property, plant and equipment and Proceeds from sale of property, plant and equipment and intangible assets intangible assets Proceeds from collection of loans receivable Other, net Net cash provided by (used in) investing activities Cash flows from financing activities Net increase (decrease) in short-term borrowings Proceeds from long-term borrowings Repayments of long-term borrowings Proceeds from issuance of bonds Redemption of bonds Repayments of lease obligations Purchase of treasury shares Dividends paid Dividends paid to non-controlling interests Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Previous fiscal year (April 1, 2020 to March 31, 2021) 3,198 1,475 120 (0) 0 (358) 553 (244) (Million yen) Fiscal year under review (April 1, 2021 to March 31, 2022) 2,856 1,978 – (58) (45) (347) 574 (233) 67 1,192 (1,324) 408 (483) (7) 57 1,914 (10) 10 173 (1,870) 4,873 356 – (531) (787) 132 4,044 (4) 301 (6,763) 3 35 93 (6,333) (2,198) 7,871 (4,278) 9,947 (1,775) (101) (0) (515) (24) 8,924 6,634 9,894 16,529 7 33 (470) 41 19 (409) (101) (132) 885 121 (72) 126 (51) 4,714 346 951 (554) (1,217) 1 4,242 (4) 287 (9,991) 6 25 (49) (9,725) 734 6,056 (5,274) – (4,186) (99) (0) (792) (24) (3,585) (9,069) 16,529 7,459