AIFUL CORPORATION (Translation for reference only)
August 10, 2022
Consolidated Financial Results for the First Quarter of Fiscal Year 2022
For the Three Months Ended June 30, 2022
(Under Japanese GAAP)
Company name: | AIFUL Corporation |
Stock Listing: | Tokyo Stock Exchange |
Stock Code: | 8515 |
URL: | https://www.aiful.co.jp |
Representative: | Mitsuhide Fukuda, President and Chief Executive Officer |
For inquiry: | Toshiaki Ando, Assistant Senior General Manager of Finance Division TEL (03) 4503 - 6050 |
Scheduled date of submission of Quarterly Securities Report: August 12, 2022
Scheduled date of commencement of dividend payments : －
Supplementary materials for Quarterly Financial results: Yes
Quarterly earnings release conference: None
I. Consolidated Financial Results for the First Quarter of Fiscal Year 2022
(April 1, 2022 - June 30, 2022)
(Amounts less than one million yen have been rounded down)
1. Consolidated Operating Results
(Millions of | yen, Percentages indicate | year-on-year changes) | ||||||||||||||
Operating Revenue | Operating Profit | Ordinary Profit | Profit Attributable to | |||||||||||||
Owners of Parent | ||||||||||||||||
Three months ended | 34,692 | 7.3% | 6,609 | 15.8% | 6,714 | 17.5% | 5,945 | 18.6% | ||||||||
June 30, 2022 | ||||||||||||||||
June 30, 2021 | 32,329 | 1.2% | 5,708 | (9.8) % | 5,714 | (24.4)% | 5,012 | (29.5)% | ||||||||
Note: | Comprehensive | income: For the three months ended | 19.7% | |||||||||||||
June | 30, | 2022: | 6,354 million yen | |||||||||||||
June | 30, | 2021: | 5,306 million yen | (21.8)% | ||||||||||||
Net Income per Share | Diluted Net Income per | |||||||||||||||
(Yen) | Share (Yen) | |||||||||||||||
Three months ended | 12.29 | - | ||||||||||||||
June 30, 2022 | ||||||||||||||||
June 30, 2021 | 10.36 | - |
2. Consolidated Financial Position
Total Assets | Net Assets | Shareholders' Equity | ||||||||||||
Ratio (%) | ||||||||||||||
As of | 953,959 | 162,396 | 16.7 | |||||||||||
June 30, 2022 | ||||||||||||||
March 31, 2022 | 935,642 | 156,526 | 16.4 | |||||||||||
Reference: | Shareholders' | equity: | As of June | 30, 2022: | 159,424 | million yen | ||||||||
As of March 31, 2022: | 153,900 million yen | |||||||||||||
II. Dividend Information | ||||||||||||||
Dividend per share (Yen) | ||||||||||||||
End of | End of | End of | Year-end | Annual | ||||||||||
1st quarter | 2nd quarter | 3rd quarter | ||||||||||||
FY ended March 31, 2022 | - | 0.00 | - | 1.00 | 1.00 | |||||||||
FY ending March 31, 2023 | - | |||||||||||||
FY ending March 31, 2023 | 0.00 | - | 1.00 | 1.00 | ||||||||||
(Forecast) | ||||||||||||||
Note: Revisions to dividend forecasts: None |
-
Earnings Forecast on a Consolidated Basis for the Fiscal Year ending March 31, 2023
(April 1, 2022 - March 31, 2023)
(Millions of yen, Percentages indicate year-on-year changes)
Operating Revenue | Operating Profit | Ordinary Profit | Profit Attributable to | Profit per | |||||
Owners of Parent | Share (Yen) | ||||||||
Six months ending | 69,500 | 7.2% | 11,500 | 15.8% | 11,600 | 17.7% | 10,200 | 1.6% | 21.09 |
September 30, 2022 | |||||||||
Fiscal year ending | 142,600 | 8.0% | 23,800 | 111.7% | 24,000 | 95.7% | 21,300 | 72.7% | 44.04 |
March 31, 2023 | |||||||||
Note: Revisions to consolidated earnings forecasts: None |
IV. Other
- Changes in significant subsidiaries during the three months ended June 30, 2022 (Changes in specified subsidiaries resulting changes in scope of consolidation): None
- Adoption of special accounting methods for quarterly consolidated financial statements: None
- Changes in accounting policies, accounting estimates and restatements
- Changes in accompanying amendments to accounting standards: None
- Changes other than those in (a): None
- Change in accounting estimates: Yes
- Restatements: None
- Number of shares issued (Common stock)
-
Number of shares issued at the end of the period
(including treasury stock) - Number of treasury stock at the end of the period
- Average number of shares during the period
FY2022 1Q | 484,620,136 | shares | FY2021 | 484,620,136 shares |
FY2022 1Q | 917,470 | shares | FY2021 | 917,470 shares |
FY2022 1Q | 483,702,666 | shares | FY2021 1Q | 483,702,666 shares |
- Note: Brief Statement of quarterly financial results is not subject to audit procedures that are conducted by a certified public accountant or an audit corporation.
- Note: Disclaimer concerning the proper use of business results forecasts, etc.
The forecasts and other forward-looking statements contained in this Report are based on information currently available to the Company as well as certain assumptions that the AIFUL Group has judged to be reasonable. Accordingly, actual results may differ from the forecasts due to various factors. For matters related to earnings forecast above, please refer to "Qualitative Information on the Forecasts for the Consolidated Business Results" on page 2.
Contents
1. Quarterly Qualitative Information on Business Results……..…………………….……………………………… | 2 |
(1) Qualitative Information on Business Results………….…………………………..…………………...……… | 2 |
(2) Qualitative Information on the Forecasts for the Consolidated Business Results…………………………..… | 2 |
2. Quarterly Consolidated Financial Statements and Notes………………………………………………………… | 3 |
(1) Quarterly Consolidated Balance Sheets…………….…………………………………………………………. | 3 |
(2) Quarterly Consolidated Statements of Income and | |
Consolidated Statements of Comprehensive Income…………………………………………………….…… | 4 |
(3) Quarterly Consolidated Statements of Cash Flows…………..……………………………………………....... | 6 |
(4) Notes to Quarterly Consolidated Financial Statements ………………………….………………………........ | 7 |
(Notes on Premise of Going Concern) …….………………………………………………………………….. | 7 |
(Changes in Scope of Consolidation) ………………………………………………………………………… | 7 |
(Changes in Accounting Estimates) ………………………………………...………………………………… | 7 |
(Notes in Case of any Significant Changes in the Amount Shareholders' Equity) ……………….………….. | 7 |
(Additional Information) …………………………………………………...………………………………… | 8 |
1
1. Quarterly Qualitative Information on Business Results
(1) Qualitative Information on Business Results
During the three months ended June 30, 2022, the outlook for the Japanese economy remains uncertain due to concerns about a slowdown in the economy due to rising prices for energy and raw materials, against backdrop of worsening conditions in Ukraine and a weakening yen, despite the trend toward recovery amid the low number of new infections of COVID-19 and the normalization of socio-economic activities.
The consumer finance industry's recovery trend continued as the number of new contracts at major companies increased year-on-year. In addition, although interest repayment claims have been steadily decreasing, it still requires close monitoring as
it is easily affected by changes in the external environment.
Under these circumstances, in order to realize AIFUL Group's management theme "Go (new) Standard -Deepening Customer Orientation-", the Company will focus on "diversification of business portfolio" through business diversification and strengthening overseas businesses, etc., and "utilization of digital technologies," such as IT technology analysis and in-house production of systems. At the same time, we will strive to expand assets by balancing "growth potential" and "profitability" and optimize management resources to maximize consolidated income, while responding to requests for interest repayment, which is one of our management issues.
(Overview of the results)
AIFUL Group's consolidated operating revenue for the first quarter of the fiscal year ending March 31, 2023 rose 7.3% year on year, to 34,692 million yen. The principal components were 20,027 million yen in interest on loans (up 7.7% year on year), 4,909 million yen in revenue from the credit card business (up 10.3% year on year) and 4,052 million yen in revenue from the credit guarantee business (up 4.8% year on year).
Operating expenses increased by 1,461 million yen, or 5.5% year on year to 28,082 million yen. This was mainly due to an increase in advertising expenses by 1,152 million (up 45.3% year on year).
As a result, AIFUL Group posted operating profit of 6,609 million yen (up 15.8% year on year) and ordinary profit of 6,714 million yen (up 17.5% year on year). Profit attributable to owners of parent stood at 5,945 million yen (up 18.6% year on year), reflecting a profit attributable to non-controlling interests of 148 million yen.
(2) Qualitative Information on the Forecasts for the Consolidated Business Results
The Group's earnings forecast for the fiscal year ending March 31, 2023 remains unchanged from the earnings forecast announced on May 11, 2022.
However, outlook disclosed is forecast based on information available as of the date of publication of these materials. There are various risks in the current business environment surrounding us, and the final results may differ from the forecasts.
2
2. Quarterly Consolidated Financial Statements and Notes
- Quarterly Consolidated Balance Sheets
(Millions of yen) | |||
As of March 31, 2022 | As of June 30, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 44,448 | 37,259 | |
Operating loans | 547,457 | 560,552 | |
Accounts receivables - installment | 110,224 | 114,916 | |
Operational investment securities | 2,312 | 2,349 | |
Customers' liabilities for acceptances and guarantees | 193,225 | 197,651 | |
Other operating receivables | 10,241 | 10,711 | |
Purchased receivables | 5,338 | 5,257 | |
Other | 25,440 | 28,455 | |
Allowance for doubtful accounts | 57,906) | 56,775) | |
Total current assets | (880,801 | (900,377 | |
Non-current assets | |||
Property, plant and equipment | 16,908 | 16,737 | |
Intangible assets | 6,737 | 6,744 | |
Investments and other assets | 31,195 | 30,099 | |
Total non-current assets | 54,841 | 53,581 | |
Total assets | 935,642 | 953,959 | |
Liabilities | |||
Current liabilities | |||
Notes & accounts payable-trade | 40,919 | 39,025 | |
Acceptances and guarantees | 193,225 | 197,651 | |
Short-term borrowings | 77,310 | 74,536 | |
Short-term loans payable to subsidiaries and associates | 1,533 | 909 | |
Commercial papers | 2,500 | 9,000 | |
Current portion of bonds | 35,000 | 20,000 | |
Current portion of long-term borrowings | 166,786 | 164,241 | |
Income taxes payable | 860 | 300 | |
Reserves | 1,377 | 735 | |
Other | 29,745 | 29,329 | |
Total current liabilities | 549,257 | 535,730 | |
Non-current liabilities | |||
Bonds payable | － | 30,000 | |
Long-term borrowings | 197,271 | 195,049 | |
Provision for loss on interest repayment | 24,595 | 22,406 | |
Other | 7,993 | 8,376 | |
Total non-current liabilities | 229,859 | 255,832 | |
Total liabilities | 779,116 | 791,562 | |
Net Assets | |||
Shareholders' equity | |||
Capital stock | 94,028 | 94,028 | |
Capital surplus | 14,017 | 14,017 | |
Retained earnings | 47,560 | 53,021 | |
Treasury shares | 3,110) | 3,110) | |
Total shareholders' equity | ( | ( | |
152,495 | 157,957 | ||
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,098 | 964 | |
Foreign currency translation adjustment | 306 | 502 | |
Total accumulated other comprehensive income | 1,404 | 1,467 | |
Non-controlling interests | 2,626 | 2,972 | |
Total net assets | 156,526 | 162,396 | |
Total liabilities and net assets | 935,642 | 953,959 |
3
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aiful Corporation published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 06:13:07 UTC.
