SENKO GROUP HOLDINGS CO., LTD. This document is a translation of the Japanese financial statements and is not in conformity with accounting principles of the United States.
SENKO Group Holdings Co., Ltd. | |||
Summary of Financial Statements for the Fiscal Year Ended March 31, 2022 | |||
[Japan GAAP] | |||
Name of Listed Company: | SENKO Group Holdings Co., Ltd. | Stock Listed on: Tokyo Stock Exchange | May 13, 2022 |
Code Number: | 9069 | URL https://www.senkogrouphd.co.jp/en/ | |
Representative: | Title: President and Representative Director | Name: Yasuhisa Fukuda | |
Inquiries: | Title: Executive Officer, Responsible for PR & IR | Name: Satoru Kokubo | Tel. (03) 6862-8842 |
Scheduled Date of Annual Meeting of Shareholders: | June 28, 2022 | Scheduled Date of Dividend Paid: June 29, 2022 | ||||||||||
Scheduled Date of Issue of Financial Report: | June 28, 2022 | |||||||||||
Supplemental Information Materials: | Yes | |||||||||||
Information Meeting for Financial Results: | Yes (for analysts) | |||||||||||
(Amounts less than ¥1 million have been rounded down) | ||||||||||||
1. Consolidated Operating Results for the Fiscal Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022) | ||||||||||||
(1) Consolidated Operating Results | (Percentage figures represent year-on-year changes) | |||||||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | |||||||||
owners of parent | ||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
Fiscal year ended March 31, 2022 | 623,139 | 8.9 | 24,771 | 15.1 | 26,103 | 17.4 | 15,233 | 6.9 | ||||
Fiscal year ended March 31, 2021 | 572,405 | 0.4 | 21,516 | 4.2 | 22,227 | 7.1 | 14,249 | 17.9 |
(Note) Comprehensive income | |||||||||||||||||||||||||||
Fiscal year ended March 31, 2022: ¥17,596 million (-1.4%) | Fiscal year ended March 31, 2021: ¥17,841 million (67.1%) | ||||||||||||||||||||||||||
Profit | Diluted profit | Ratio of ordinary | Ratio of operating | ||||||||||||||||||||||||
Return on equity | profit to total | profit to operating | |||||||||||||||||||||||||
per share | per share | ||||||||||||||||||||||||||
assets | revenue | ||||||||||||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||||||||||||
Fiscal year ended March 31, 2022 | 104.09 | 91.99 | 10.8 | 5.7 | 4.0 | ||||||||||||||||||||||
Fiscal year ended March 31, 2021 | 93.87 | 78.44 | 11.0 | 5.6 | 3.8 | ||||||||||||||||||||||
(Reference) Equity in earnings (losses) of affiliates: | |||||||||||||||||||||||||||
Fiscal year ended March 31, 2022: ¥402 million | Fiscal year ended March 31, 2021: ¥400 million | ||||||||||||||||||||||||||
(Note) | During the second quarter ended September 30, 2021, the Company finalized the provisional accounting treatment for business | ||||||||||||||||||||||||||
combinations. As a result, figures for the fiscal year ended March 31, 2021 reflect the finalization of the provisional accounting treatment. | |||||||||||||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||||||||||||||
Million yen | Million yen | % | Yen | ||||||||||||||||||||||||
As of March 31, 2022 | 480,487 | 160,657 | 30.6 | 985.67 | |||||||||||||||||||||||
As of March 31, 2021 | 436,066 | 146,120 | 30.9 | 909.55 | |||||||||||||||||||||||
(Reference) Equity: | |||||||||||||||||||||||||||
As of March 31, 2022: ¥146,817 million | As of March 31, 2021: ¥134,783 million | ||||||||||||||||||||||||||
(Note) | During the second quarter ended September 30, 2021, the Company finalized the provisional accounting treatment for business | ||||||||||||||||||||||||||
combinations. As a result, figures for the fiscal year ended March 31, 2021 reflect the finalization of the provisional accounting treatment. | |||||||||||||||||||||||||||
(3) Consolidated Cash Flows | |||||||||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||||||||||||||||||||||||
equivalents at end of | |||||||||||||||||||||||||||
operating activities | investing activities | financing activities | |||||||||||||||||||||||||
period | |||||||||||||||||||||||||||
Million yen | Million yen | Million yen | Million yen | ||||||||||||||||||||||||
Fiscal year ended March 31, 2022 | 31,885 | (46,141) | 5,773 | 42,193 | |||||||||||||||||||||||
Fiscal year ended March 31, 2021 | 31,858 | (46,309) | 36,757 | 50,371 | |||||||||||||||||||||||
2. Dividends | |||||||||||||||||||||||||||
Annual dividend | Aggregate | Payout ratio | Dividend on | ||||||||||||||||||||||||
June | September | December | March | Total | amount | equity ratio | |||||||||||||||||||||
(Consolidated) | |||||||||||||||||||||||||||
30 | 30 | 31 | 31 | (Annual) | (Consolidated) | ||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Million yen | % | % | ||||||||||||||||||||
Fiscal year ended March 31, 2021 | − | 13.00 | − | 15.00 | 28.00 | 4,219 | 29.8 | 3.2 | |||||||||||||||||||
Fiscal year ended March 31, 2022 | − | 17.00 | − | 17.00 | 34.00 | 5,020 | 32.7 | 3.6 | |||||||||||||||||||
Fiscal year ending March 31, 2023 | − | 17.00 | − | 17.00 | 34.00 | 31.7 | |||||||||||||||||||||
(Forecast) | |||||||||||||||||||||||||||
(Note) | During the second quarter ended September 30, 2021, the Company finalized the provisional accounting treatment for business | ||||||||||||||||||||||||||
combinations. As a result, figures for the fiscal year ended March 31, 2021 reflect the finalization of the provisional accounting treatment. |
3. Forecast of Consolidated Operating Results for the Fiscal Year Ending March 31, 2023 (From April 1, 2022 to March 31, 2023)
(Percentage figures represent year-on-year changes)
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | Profit | ||||||
owners of parent | per share | |||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
First half ending September 30, 2022 | 337,000 | 12.0 | 12,500 | 6.8 | 12,600 | 5.3 | 7,500 | 7.8 | 50.35 | |
Fiscal year ending March 31, 2023 | 700,000 | 12.3 | 26,700 | 7.8 | 27,000 | 3.4 | 16,000 | 5.0 | 107.41 |
Notes
- Changes in significant subsidiaries during the fiscal year (Changes in specified subsidiaries associated with change in scope of consolidation): None
- Changes in accounting principles and estimates, and retrospective restatement
- Changes due to revision of accounting standards: Yes
- Changes other than in (a): None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Shares outstanding (Common shares)
- Shares outstanding (including treasury shares)
As of March 31, 2022: | 157,070,496 shares | As of March 31, 2021: | 152,952,221 shares |
(b) Treasury shares | |||
As of March 31, 2022: | 8,117,957 shares | As of March 31, 2021: | 4,764,111 shares |
(c) Average number of shares | |||
Fiscal year ended March 31, 2022: | 146,347,358 shares | Fiscal year ended March 31, 2021: | 151,799,390 shares |
(Note) Starting with the third quarter of the fiscal year ended March 31, 2018, the number of treasury shares at term-end includes Senko shares owned by the trust accounts of Performance-linked Stock Compensation Plan for Employees (as of March 31, 2022: 338,276 shares; as of March 31, 2021: 341,740 shares) and Performance-linked Stock Compensation Plan for Directors (as of March 31, 2022: 338,607
shares; as of March 31, 2021: 348,873 shares). | ||||||||||||||||||||
[Reference] Overview of Non-Consolidated Operating Results | ||||||||||||||||||||
Non-Consolidated Operating Results for the Fiscal Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022) | ||||||||||||||||||||
(1) Non-Consolidated Operating Results | (Percentage figures represent year-on-year changes) | |||||||||||||||||||
Operating revenue | Operating profit | Ordinary profit | Profit | |||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||||||||
Fiscal year ended March 31, 2022 | 13,227 | 12.3 | 6,072 | 7.3 | 6,837 | 21.9 | 5,948 | 251.2 | ||||||||||||
Fiscal year ended March 31, 2021 | 11,781 | 13.9 | 5,661 | 26.0 | 5,607 | 20.0 | 1,693 | (57.6) | ||||||||||||
Profit | Diluted profit | |||||||||||||||||||
per share | per share | |||||||||||||||||||
Yen | Yen | |||||||||||||||||||
Fiscal year ended March 31, 2022 | 40.65 | 35.82 | ||||||||||||||||||
Fiscal year ended March 31, 2021 | 11.16 | 9.29 | ||||||||||||||||||
(2) Non-Consolidated Financial Position | ||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||||||
Million yen | Million yen | % | Yen | |||||||||||||||||
As of March 31, 2022 | 277,316 | 72,625 | 26.0 | 484.64 | ||||||||||||||||
As of March 31, 2021 | 260,559 | 71,131 | 27.1 | 477.24 | ||||||||||||||||
(Reference) Equity: | ||||||||||||||||||||
As of March 31, 2022: ¥72,236 million | As of March 31, 2021: ¥70,721 million |
This financial report is exempt from audit conducted by certified public accountants or an audit corporation.
Cautionary statement regarding forecasts of operating results and special notes
- Forward-lookingstatements in these materials are based on information available to management at the time this report was prepared and assumptions that management believes are reasonable. Actual results may differ significantly from these statements for a number of reasons. For information about the assumptions used for forecasts and precautions concerning the use of forecasts, please see "Forecasts" on page 3.
- The supplementary material on financial results will be available on the Company's website.
Index to accompanying materials
1. Overview of Operating Results and Others .......................................................................................................................................................... | 2 | |
(1) | Overview of operating results and others .................................................................................................................................................... | 2 |
(2) | Financial condition......................................................................................................................................................................................... | 3 |
(3) | Fundamental policy for distribution of earnings and dividends for the current and the next fiscal years ................................................. | 4 |
(4) | Business risk.................................................................................................................................................................................................. | 4 |
2. Basic Concept Regarding the Selection of Accounting Standards...................................................................................................................... | 5 | |
3. Consolidated Financial Statements....................................................................................................................................................................... | 6 | |
(1) Consolidated balance sheets ....................................................................................................................................................................... | 6 | |
(2) Consolidated statements of (comprehensive) income................................................................................................................................ | 8 | |
Consolidated statements of income............................................................................................................................................................ | 8 | |
Consolidated statements of comprehensive income ............................................................................................................................... | 10 | |
(3) | Consolidated statements of changes in equity.......................................................................................................................................... | 11 |
(4) | Consolidated statements of cash flows...................................................................................................................................................... | 13 |
1
1. Overview of Operating Results and Others
- Overview of Operating Results and Others
(a) Overview of results of operations in the fiscal year ending March 31, 2022
In the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022), the economic environment has transitioned under a difficult business environment due to the continued effects of the novel coronavirus disease (COVID-19), and with the added factor of soaring fuel prices.
In this environment, the Senko Group has strived for growth in business performance as the last year of the five-yearmedium-term business plan, "Senko Innovation Plan 2021 (SIP21)".
The following provides an outline of our main activities in the fiscal year ended March 31, 2022.
In the Domestic Logistics, we opened "Gifu Hashima PD Center" (Hashima City, Gifu Prefecture) in May, "Inzai No.2 Logistics Center" (Inzai City, Chiba Prefecture) in November, and "Sennan PD Center" (Sennan City, Osaka Prefecture) in March.
In the International Logistics, we welcomed AIRROAD PTY LIMITED in April, which operates freight car transportation business in Australia, and AIR PLANNERS (S) PTE. LTD. in January, which operates international air and sea shipping based in Singapore, to the group.
In the Marine Shipping, Nippon Marine Co., Ltd. and Senko Line Co., Ltd. constructed and commissioned a concentrated sulfuric acid ship "Shoryu" in August.
In the Trading & Commerce, we welcomed Cartas Co., Ltd. a household paper wholesale distributor to the group in January, and in the same month, participated in the investment in the TOMI Group, a Chinese trading company who handles materials and parts for LCD panels and organic EL products with an aim to expanding commercial rights in electronic material transactions.
In Others, we welcomed SELF GROW Inc., which dispatches foreign residents as workers and has a training business for technical intern trainees based in Aichi Prefecture in October, and DIA Cleaning Co., Ltd., which operates dry cleaning for clothing and laundromat business centered in the Chugoku and Shikoku areas in November, to the group.
In regard to initiatives to reduce environment impact, from Japan Association for Logistics and Transport, SENKO Co., Ltd. and Runtec Corporation received 1 special award and 2 category awards for the "22nd Logistics Environment Award," respectively, in June; and SENKO Co., Ltd. received one award each in the "Improvements" category and the "Effective Utilization" category, and Runtec Corporation received one award in the "Effective Utilization" category for the "2021 Award for Excellent Business Entities Working on Modal Shift" in November. Furthermore, in November, Runtec Corporation received "2021 Director of Kyushu District Transport Bureau Award for Automobile/Tourism/Transportation Policy-related Distinguished Service" from the Kyushu District Transport Bureau, Ministry of Land, Infrastructure and Transport.
The Group will continue to support and contribute to developing a sustainable society that supports people in their daily lives.
The full-year performance for this fiscal year was as follows.
(Unit: Millions of Yen) | ||||
Fiscal year ended | Fiscal year ended | Change | % | |
March 31, 2021 | March 31, 2022 | |||
Operating revenue | 572,405 | 623,139 | 50,733 | 8.9% |
Operating profit | 21,516 | 24,771 | 3,254 | 15.1% |
Ordinary profit | 22,227 | 26,103 | 3,876 | 17.4% |
Profit attributable to owners of | 14,249 | 15,233 | 984 | 6.9% |
parent | ||||
Despite the fact that we were affected primarily by the application of the Accounting Standard for Revenue Recognition and relevant revised ASBJ regulations in terms of operating revenue, and also affected primarily by soaring fuel prices in terms of profit, we made group-wide efforts to expand sales, improve cost efficiency and enhance productivity, as well as promote M&A, and as a result, consolidated operating revenue, consolidated operating profit, consolidated ordinary profit, and profit attributable to owners of parent all increased year on year.
The full-year operating revenue by segment was as follows.
Logistics
(Unit: Millions of Yen) | ||||
Fiscal year ended | Fiscal year ended | Change | % | |
March 31, 2021 | March 31, 2022 | |||
Operating revenue | 387,350 | 432,538 | 45,188 | 11.7% |
Segment income | 19,398 | 23,013 | 3,615 | 18.6% |
2
Despite the effect of soaring fuel prices, we strived to expand sales, improve cost efficiency and enhance productivity amid recovery in cargo volumes, which declined drastically due to the impact of the spread of COVID-19 in the previous fiscal year, while reaping the contribution of revenue from M&A. As a result, operating revenue increased ¥45,188 million year on year to ¥432,538 million, and segment income rose ¥3,615 million year on year to ¥23,013 million.
Trading & commerce
(Unit: Millions of Yen) | ||||
Fiscal year ended | Fiscal year ended | Change | % | |
March 31, 2021 | March 31, 2022 | |||
Operating revenue | 161,820 | 153,049 | (8,770) | (5.4%) |
Segment income | 3,035 | 2,905 | (130) | (4.3%) |
In addition to making household paper wholesale distributor AZFIT CO., Ltd. a consolidated subsidiary in April, we worked on expanding sales, improving cost efficiency among other initiatives. However, in part as a result of applying the Accounting Standard for Revenue Recognition and relevant revised ASBJ regulations, and in part due to rising purchase prices in fuel sales, among other factors, operating revenue decreased by ¥8,770 million year on year to ¥153,049 million and segment income fell ¥130 million year on year to ¥2,905 million.
Others
(Unit: Millions of Yen) | ||||
Fiscal year ended | Fiscal year ended | Change | % | |
March 31, 2021 | March 31, 2022 | |||
Operating revenue | 23,235 | 37,550 | 14,315 | 61.6% |
Segment income (loss) | (61) | 99 | 161 | - |
In addition to making membership-based general wholesale and retail business operator TERAUCHI CO., LTD. a consolidated subsidiary in January 2021, and working on expanding sales and improving cost efficiency, operating revenue increased by ¥14,315 million year on year to ¥37,550 million and segment income rose ¥161 million year on year to ¥99 million.
(b) Forecasts
There are concerns about the situation in Ukraine, rising cost of resources and monetary policy trends in the United States, but the future economic environment is expected to recover gradually.
In this kind of environment, the Group has formulated a new five-yearmedium-term business plan, starting in fiscal year 2022.
In line with our basic policy of "We deliver new value to people and society and aim for sustainable growth through the deepening and creation of businesses," we will work on the following five priority issues:
- Expansion and deepening of existing businesses
- Creation and development of growing businesses
- Initiatives for ESG+H (health) management
- Upgrading group management
- Achievement of job satisfaction and personal growth
For the first year of the medium-term business plan, the Group forecasts consolidated operating revenue of ¥700,000 million, consolidated operating profit of ¥26,700 million, consolidated ordinary profit of ¥27,000 million, and profit attributable to owners of parent of ¥16,000 million.
- Financial condition
- Assets, liabilities and net assets
Total assets
Total assets as of March 31, 2022 were ¥480,487 million, ¥44,421 million higher than at the end of the previous fiscal year.
Current assets amounted to ¥171,033 million, up ¥7,142 million from the end of the previous fiscal year. This was mainly due to increases of ¥9,204 million in trade notes and account receivable, and contract assets, ¥1,023 million in electronically recorded monetary claims - operating, ¥1,193 million in merchandise and finished goods and ¥3,190 million in other current assets, despite a decrease of ¥7,437 million in cash and deposits.
Non-current assets totaled ¥309,454 million, up ¥37,278 million from the end of the previous fiscal year. This was primarily due to increases of ¥22,084 million in property, plant and equipment, ¥5,709 million in intangible assets, and ¥9,484 million in investments and other assets.
Liabilities
Liabilities as of March 31, 2022 increased ¥29,884 million from the end of the previous fiscal year to ¥319,830 million.
Current liabilities totaled ¥137,646 million, up ¥3,931 million from the end of the previous fiscal year. This was mainly due to increases of ¥6,291 million in trade notes and accounts payable and ¥14,298 million in short-term borrowings, despite decreases of ¥7,094 million in current portion of bonds payable and ¥10,009 million in current portion of convertible bond-type bonds with share acquisition rights.
Non-current liabilities totaled ¥182,183 million, up ¥25,952 million from the end of the previous fiscal year. This was mainly attributable to
3
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SENKO Group Holdings Co. Ltd. published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 06:22:07 UTC.
