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    6645   JP3197800000

OMRON CORPORATION

(6645)
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OMRON : Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022 (U.S. GAAP)

07/29/2021 | 02:07am EDT

Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022 (U.S. GAAP)

July 29, 2021

OMRON Corporation (6645)

Exchanges Listed:

Tokyo (first section)

URL:

https://www.omron.com/global/en/

Representative:

Yoshihito Yamada, President and CEO

Contact:

Takayoshi Oue, Executive Officer, Senior General Manager,

Global Finance and Accounting HQ

Telephone:

Filing of Quarterly Securities Report (Shihanki hokokusho) (scheduled):

Start of Distribution of Dividends (scheduled):

Preparation of Supplementary Materials for the Quarterly Financial Results:

Holding of Presentation of Quarterly Financial Results:

+81-75-344-7070

August 6, 2021

-

Yes

Yes (Financial results presentation held via online streaming and teleconference for investors on July 29)

Note: This document has been translated from the Japanese original as a guide to non-Japanese investors and contains forward- looking statements that are based on managements' estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations.

Note: Figures are rounded to the nearest million yen.

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2022 (April 1, 2021 - June 30, 2021)

(1) Sales and Income (cumulative)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Net sales

Operating income

Income before income taxes

Net income attributable

to shareholders

Three months

Million yen

%

Million yen

%

Million yen

%

Million yen

%

ended

June 30, 2021

188,193

28.5

25,837

107.3

26,601

100.3

20,178

108.2

June 30, 2020

146,465

(8.5)

12,463

24.2

13,279

21.2

9,690

13.5

Note:

Comprehensive income:

Three months ended June 30, 2021: JPY25,739 million (169.7% change);

Three months ended June 30, 2020: JPY9,543 million (-43.3% change)

Net income per share

Net income per share

attributable to

attributable to

shareholders, basic

shareholders, diluted

Three months

Yen

Yen

ended

June 30, 2021

100.04

June 30, 2020

48.03

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders' equity

Shareholders'

equity ratio

Million yen

Million yen

Million yen

%

June 30, 2021

834,534

635,616

633,271

75.9

March 31, 2021

820,379

609,358

606,858

74.0

2. Dividends

Dividends per share

First quarter-end

First half-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

42.00

42.00

84.00

March 31, 2021

Fiscal year ending

March 31, 2022

Fiscal year ending

March 31, 2022

86.00

(projected)

Note: Revisions since the most recently announced dividend forecast: No

3. Projected Results for the Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Income before

Net income

Net income per share

Net sales

Operating income

attributable to

attributable to

income taxes

shareholders

shareholders, basic

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Full-year

700,000

6.8

70,000

12.0

67,000

2.9

48,000

10.8

238.01

Note: Revisions since the most recently announced performance forecast: No

*Notes

(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries due to changes in the scope of

consolidation): No

New: - company (company name)

Excluded: - company (company name)

  1. Application of simplified accounting methods and/or special accounting methods: No
  2. Changes in accounting policy
  1. Changes in accounting policy accompanying revision of accounting standards, etc.: Yes
  2. Changes in accounting policy other than (a) above: No

Note: For more, see 2. Quarterly Consolidated Financial Statements and Notes (4) Notes Regarding Consolidated Financial Statements (Changes in Accounting Policies) on P.11 in the attached materials.

(4) Number of shares issued and outstanding (common stock)

[1] Number of shares outstanding at period-

June 30, 2021

206,244,872

Year ended

206,244,872

end (including treasury stock)

March 31, 2021

[2] Treasury stock at period-end

June 30, 2021

4,411,442

Year ended

4,574,294

March 31, 2021

[3] Average number of shares during the

Three months ended

201,711,158

Three months ended

201,739,429

period (quarterly cumulative)

June 30, 2021

June 30, 2020

Note: As of the end of the consolidated first three months of the fiscal year ending March 31, 2022, 597,334 shares of OMRON stock held for Board Incentive Plan and Employee Stock Ownership Plan are included in period-end treasury stock. The average number of shares during the period includes treasury stock deducted in the calculation of net income per share attributable to OMRON shareholders.

*Quarterly summaries of consolidated financial results are not subject to review by certified public accountants or audit corporations.

*Commentary Regarding Appropriate Use of Projections of Results and Other Matters

  1. Projections of results and future developments are based on information available to the Company at the time of writing, as well as certain assumptions judged by the Company to be reasonable. Various risks, uncertainties and other factors could cause actual results to differ materially from these projections.
    For the assumptions that form the basis of the projected results and appropriate use, see 1. Qualitative Information on Quarterly Financial Results (2) Description of Information on Outlook, Including Consolidated Performance Forecast on P.5.
  2. The Company applies the single step method for presentation of its Consolidated Financial Statements based on U.S. GAAP. However, to facilitate comparison with other companies, operating income on the Consolidated Statements of Operations is presented by subtracting selling, general and administrative expenses and research and development expenses from gross profit.
  3. The Company plans to hold a presentation for investors and information session via online streaming and teleconference on Thursday, July 29, 2021.

The following abbreviations of business segment names are used in the attached materials.

IAB:

Industrial Automation Business

EMC:

Electronic and Mechanical Components Business

SSB:

Social Systems, Solutions and Service Business

HCB:

Healthcare Business

Table of Contents

1. Qualitative Information on Quarterly Financial Results……………………………………………………………………

P.2

(1) Description of Results of Operations……………………………………………………………………………………

P.2

(2) Description of Information on Outlook, Including Consolidated Performance Forecast…………………………………

P.5

2. Quarterly Consolidated Financial Statements and Notes ……………………………………………………………………

P.6

(1) Quarterly Consolidated Balance Sheets…………………………………………………………………………………

P.6

(2) Quarterly Consolidated Statements of Operations and Quarterly Consolidated Statements of Comprehensive Income

P.8

(3) Consolidated Statements of Cash Flows…………………………………………………………………………………

P.10

(4) Notes Regarding Consolidated Financial Statements……………………………………………………………………

P.11

(Notes Regarding Assumptions of Going Concern)……………………………………………………………………

P.11

(Notes in the Event of Significant Changes in Shareholders' Equity)…………………………………………………

P.11

(Changes in Accounting Policies)………………………………………………………………………………………

P.11

(Segment Information)…………………………………………………………………………………………………

P.12

1

1. Qualitative Information on Quarterly Financial Results

  1. Description of Results of Operations

General Overview

The business environment surrounding the OMRON Group during the first quarter of the current fiscal year (April through June 2021) continued to recover on a global scale. In the manufacturing industry, which is our main customer base, China was the country to emerge most quickly from the COVID-19 pandemic and achieve an accelerated economic recovery. The Americas and Europe continue to see an advancement in economic normalization driven by the adoption of vaccinations, etc., driving demand for capital investment and demand for electronic components globally. In addition to a recovery from the COVID-19 pandemic, demand for electric vehicles and plastic-free products expanded, driven by societal demands for protecting the global environment.

Amid this business environment, the Industrial Automation Business accurately captured demand for capital investment in the semiconductor, secondary battery, food, and daily goods industries by continuing to leverage the business's capabilities in offering solutions. Our Healthcare Business leveraged global retail and online channels, accurately capturing demand for blood pressure monitors, which continued to expand due to rising health consciousness.

As a result, sales for the first quarter increased significantly year on year. Our ongoing efforts resulted in improved gross profit margin compared to the same period in the prior fiscal year, despite soaring prices for components and raw materials, as well as an increase in logistics costs stemming from the rapid market recovery. Operating income doubled year on year due to the synergistic effects of increased earning capacity and sales growth, areas in which we have focused our efforts. We recorded first-quarter historic highs in gross profit margin, operating income, income before income taxes, and net income attributable to OMRON shareholders.

Consolidated results for the first quarter were as follows.

(Billions of yen, except exchange rate data and percentages)

Three months ended

Three months ended

Change

June 30, 2020

June 30, 2021

Net sales

146.5

188.2

28.5%

Gross profit

66.4

87.4

31.6%

[% of net sales]

[45.3%]

[46.4%]

[1.1%pt]

Operating income

12.5

25.8

107.3%

[% of net sales]

[8.5%]

[13.7%]

[5.2%pt]

Income before income taxes

13.3

26.6

100.3%

Net income attributable to OMRON

9.7

20.2

108.2%

shareholders

Average USD exchange rate (JPY)

107.9

109.8

1.9

Average EUR exchange rate (JPY)

118.3

131.7

13.4

Average RMB exchange rate (JPY)

15.1

17.0

1.8

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Omron Corporation published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 06:06:10 UTC.


ę Publicnow 2021
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Financials
Sales 2022 756 B 6 650 M 6 650 M
Net income 2022 67 227 M 591 M 591 M
Net cash 2022 226 B 1 989 M 1 989 M
P/E ratio 2022 31,8x
Yield 2022 0,91%
Capitalization 2 141 B 18 837 M 18 838 M
EV / Sales 2022 2,53x
EV / Sales 2023 2,39x
Nbr of Employees 28 254
Free-Float 95,3%
Chart OMRON CORPORATION
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OMRON Corporation Technical Analysis Chart | 6645 | JP3197800000 | MarketScreener
Technical analysis trends OMRON CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 10 610,00 JPY
Average target price 11 493,75 JPY
Spread / Average Target 8,33%
EPS Revisions
Managers and Directors
Yoshihito Yamada President, CEO & Representative Director
Koji Nitto CFO, Director & Senior Managing Executive Officer
Fumio Tateishi Chairman
Kiichiro Miyata CTO & Representative Director
Eizo Kobayashi Independent Outside Director
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