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.

May 15, 2023

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

(Based on Japanese GAAP)

Company name: Carlit Holdings Co., Ltd. (hereafter 'the Company')

Listed exchange: Prime Section, Tokyo Stock Exchange

Code Number: 4275

URL:

https://www.carlithd.co.jp

Representative:

Hirofumi Kaneko, Representative Director and President & CEO

Inquiries:

Taku Shimada, General Manager of PR and Sustainability Promotion Div.

Telephone:

+81-3-6893-7060

Scheduled date of annual general meeting of shareholders: June 29, 2023

Scheduled date to file securities report: June 29, 2023

Scheduled date to commence dividend payments: June 30, 2023

Preparation of explanatory materials for full-term financial results: Yes

Holding of full-term financial results briefing: Yes

(Amounts are rounded down to the nearest million yen)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (April 1, 2022 to March 31, 2023)

1) Consolidated operating results

(Percentages indicate year-on-year changes)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

For the fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Mar. 31, 2023

36,008

6.2

2,640

5.3

2,910

6.1

2,246

(3.8)

Mar. 31, 2022

33,894

―

2,506

―

2,742

―

2,336

―

Note: Comprehensive income

Fiscal year ended Mar. 31, 2023: ¥2,736 million [22.9%]

Fiscal year ended Mar. 31, 2022: ¥2,225 million [(26.2)%]

Basic earnings

Diluted earnings

Return on equity

Ordinary

Operating

per share

per share

profit/total assets

profit/net sales

For the fiscal year ended

Yen

Yen

%

%

%

Mar. 31, 2023

94.55

―

7.0

5.7

7.3

Mar. 31, 2022

98.31

―

7.8

5.4

7.4

Reference:

Share of profit of entities accounted for using equity method: Fiscal year ended Mar. 31, 2023: ¥12 million Fiscal year ended Mar. 31, 2022: ¥21 million

2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

As of

Millions of yen

Millions of yen

%

Yen

Mar. 31, 2023

51,230

33,179

64.8

1,402.70

Mar. 31, 2022

50,078

30,903

61.7

1,300.41

Reference: Shareholders' equity:

As of Mar. 31, 2023: ¥33,179 million

As of Mar. 31, 2022: ¥30,903 million

(Percentages indicate changes from the same period of previous fiscal year)

3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash flows from

operating activities

investing activities

financing activities

equivalents at year-end

For the fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Mar. 31, 2023

2,064

(65)

(1,784)

3,809

Mar. 31, 2022

3,063

(984)

(3,981)

3,589

2. Cash dividends

Cash dividends per share

Total cash

Payout ratio

Dividends to net

Fiscal

dividends

assets ratio

1Q

2Q

3Q

Annual

(consolidated)

year end

(annual)

(consolidated)

For the fiscal year ended

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Mar. 31, 2022

―

0.00

―

16.00

16.00

383

16.3

1.3

Mar. 31, 2023

―

0.00

―

20.00

20.00

479

21.2

1.5

Mar. 31, 2024

―

0.00

―

20.00

20.00

20.7

(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: Yes

3. Forecasts of consolidated financial results for the fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)

Profit attributable

Basic

Net sales

Operating profit

Ordinary profit

to owners of

earnings per

parent

share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

1st half

18,000

2.4

800

(27.6)

900

(30.1)

750

(21.1)

31.57

Full year

38,000

5.5

2,700

2.3

2,900

(0.4)

2,300

2.4

96.80

Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other than 1. above: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  4. Number of issued shares (common shares)
    1. Total number of issued shares at the end of theperiod (including treasury shares)

As of Mar. 31, 2023

24,050,000 shares As of Mar. 31, 2022

24,050,000 shares

2. Number of treasury shares at the end of the period

As of Mar. 31, 2023

396,097 shares As of Mar. 31, 2022

285,316 shares

3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

As of Mar. 31, 2023

23,763,709 shares

As of Mar. 31, 2022

23,769,684 shares

(Percentages indicate year-on-yearchanges)

(Reference) Non-consolidated financial results for the fiscal year ended March 31, 2023 (April 1, 2022 to March 31, 2023)

1) Non-consolidated operating results

Net sales

Operating profit

Ordinary profit

Profit

For the fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Mar. 31, 2023

2,092

(5.9)

773

15.6

1,005

16.8

2,370

159.2

Mar. 31, 2022

2,223

(18.4)

668

(24.8)

860

(18.3)

914

(6.7)

Profit per share

Diluted profit per

share

For the fiscal year ended

Yen

Yen

Mar. 31, 2023

99.72

―

Mar. 31, 2022

38.46

―

2) Non-consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

As of

Millions of yen

Millions of yen

%

Yen

Mar. 31, 2023

35,584

29,324

82.4

1,239.75

Mar. 31, 2022

34,703

28,077

80.9

1,180.88

Reference: Shareholders' equity: As of Mar. 31, 2023: ¥29,324 million; As of Mar. 31, 2022: ¥28,077 million

  • Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters (Notice concerning forward looking statements)
    The forward-looking statements described in this document, such as business forecasts, are based on information available at the time of release of these materials and reasonable assumptions made by the Company, and do not represent a commitment from the Company that they will be achieved. Actual financial results, etc. may differ significantly from this forecast due to various factors. For assumptions used for earnings forecasts and notes on the use of earnings forecasts, please refer to "Qualitative Information on Business Results, (1) Explanations of Business Results" on page 2 of the attached document.
    (Acquisition method of explanatory materials for full-term financial results and contents of full-term financial results briefing)
    Video recording.

Table of Contents

1．Qualitative Information on Business Results

2

(1)

Explanations of Business Results

2

(2)

Summary of the Consolidated Balance Sheets and Cash Flow Statements

5

(3)

Basic Policy on Profit Distribution and Cash Dividends

7

2．Basic Stance on Selection of Accounting Standards

7

3．Consolidated Financial Statements

8

(1)

Consolidated Balance Sheets

8

(2)

Consolidated Statements of Income and Comprehensive Income

10

Consolidated Statements of Income

10

Consolidated Statements of Comprehensive Income

11

(3)

Consolidated Statements of Changes in Shareholders' Equity

12

(4)

Consolidated Statements of Cash Flows

14

(5)

Notes to Consolidated Financial Statements

16

Going Concern Assumption

16

Basis of Preparation of Consolidated Financial Statements

16

Changes in Presentation Method

19

Segment Information

20

Per Share Information

23

Subsequent Events

24

1

1．Qualitative Information on Business Results

We have formulated a new Medium-term Management Plan entitled "Challenge 2024" that kicked off in fiscal year 2022. Our management policy is to pursue improvements in corporate value through the optimization of our business portfolio. In line with this policy, we are currently undertaking specific measures centered on the following five strategies: (1) accelerating growth businesses; (2) expanding research and development; (3) improving the profitability of existing businesses; (4) improving ESG management; and (5) rebuilding business infrastructure. We are also endeavoring to further strengthen corporate governance, giving tangible shape to profitable growth and ESG, and aiming to become a corporate group that is trusted by society.

As for the return of profits to shareholders, our basic policy is to continuously pay and raise stable dividends whilst strengthening our financial structure and corporate foundation. Our Medium-term Management Plan calls for a dividend payout ratio of between 20% and 30%.

Based on this basic policy and payout ratio target, and after comprehensively taking into account factors such as the link to consolidated earnings, we decided to raise our year-end dividend forecast by ¥4 to pay an annual ordinary dividend of ¥20 per share.

This proposal will be submitted and officially approved at the annual general meeting of shareholders scheduled to be held in June 2023.

(1) Explanations of Business Results

(i) Explanation of operating results

In the fiscal year ended March 31, 2023, consolidated net sales were brisk in mainly the chemical products business segment (chemicals, material assessment service, ceramics) and the industrial materials business segment (anchors for refractories, various metal spring and pressed products). Even though raw material prices and energy costs skyrocketed, we managed to keep the impacts to a minimum.

Also, we recorded extraordinary income of ¥255 million from gain on the sale of investment securities, as well as extraordinary losses of ¥82 million from loss on the sale of shares of subsidiaries and associates in connection with the sales of Sankyo Jitsugyo Co., Ltd. and Nishiyama Filter Co., Ltd.

Furthermore, for the previous fiscal year, we recorded compensation expenses of ¥139 million as non-operating expenses and insurance claim income of ¥96 million as non-operating income. In addition, we recorded ¥209 million in bargain purchase associated with acquiring shares of Minamisawa Construction Co., Ltd. and ¥100 million in extraordinary income on gain on sale of investment securities.

These results are provided below.

(Percentages indicate year-on-year changes)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

For the fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Mar. 31, 2023

36,008

6.2

2,640

5.3

2,910

6.1

2,246

(3.8)

Mar. 31, 2022

33,894

14.4

2,506

59.1

2,742

54.9

2,336

89.8

  1. Explanations by business segment Chemical products
    Explosives = increase in sales and profit
    ・Industrial explosives experienced both a decrease in sales due to the withdraw from unprofitable manufacturing locations and a decrease in profit due to surging costs for raw materials and energy.
    ・Automotive emergency flares saw an increase in sales for new vehicles. In terms of replacements for automobile inspections, sales increased due to an increase in sales of emergency flares with glass-breaking function in response to torrential rain disasters and from customers' improved safety awareness. However, profit decreased due to surging costs

2

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Carlit Holdings Co. Ltd. published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 05:06:04 UTC.