CENTRAL GLASS CO., LTD. August 4, 2023
Central Glass Co., Ltd.
Consolidated Financial Results for the First Quarter Ended June 30, 2023
(April 1, 2023 to June 30, 2023)
* All amounts are rounded down to the nearest million yen.
1. Consolidated Financial Results for the First Quarter Ended June 30, 2023
(April 1, 2023 to June 30, 2023)
(1) Operating results
Net sales | Operating profit | Ordinary profit | Profit attributable | |||||||
to owners of parent | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
1st quarter ended June 30, 2023 | 39,010 | 4.5 | 2,845 | (21.7) | 3,837 | (32.3) | 2,831 | (54.6) | ||
1st quarter ended June 30, 2022 | 37,331 | (26.2) | 3,635 | 90.8 | 5,667 | 139.5 | 6,229 | 351.0 | ||
Note : Comprehensive income: 1st quarter ended June 30, 2023: 4,244 million yen | [(33.3%)] | |||||||||
1st quarter ended June 30, 2022: 6,361 million yen | [77.7%] | |||||||||
Earnings per share | ||||||||||
Basic | Diluted | |||||||||
Yen | ||||||||||
1st quarter ended June 30, 2023 | 114.25 | - | ||||||||
1st quarter ended June 30, 2022 | 154.26 | - |
Notes: Percentage figures for net sales, operating profit, ordinary profit and profit attributable to owners of parent represent year-on-year comparisons.
(2) Financial position
Total assets | Net assets | Equity ratio | |
Millions of yen | Millions of yen | % | |
As of June 30, 2023 | 219,799 | 109,972 | 48.0 |
As of March 31, 2023 | 221,090 | 107,861 | 46.8 |
Reference: Equity As of June 30, 2023: 105,538 million yen | As of March 31, 2023 : 103,483 million yen |
2. Dividends
Dividends per share | |||||
1Q | 2Q | 3Q | 4Q | Full year | |
Yen | Yen | Yen | Yen | Yen | |
Year ended March 31, 2023 | - | 37.50 | - | 77.50 | 115.00 |
Year ending March 31, 2024 | - | ||||
Year ending March 31, 2024 (forecast) | 57.50 | - | 57.50 | 115.00 |
Note: Revision to recently announced dividend forecasts: None
3. Consolidated Financial Forecast for the Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)
Net sales | Operating profit | Ordinary profit | Profit attributable | Earnings | |||||
to owners of parent | per share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
First half | 83,500 | 6.7 | 4,500 | (39.4) | 5,000 | (52.9) | 4,000 | (76.3) | 161.42 |
Full year | 182,500 | 7.8 | 14,000 | (16.5) | 16,000 | (18.5) | 14,000 | (67.1) | 564.97 |
Notes: |
- Percentage figures represent changes from the corresponding period in the previous year.
- Revision to recently announced financial forecast: None
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*This financial release is not subject to audit procedures.
*Cautionary note regarding forward-looking statements:
The forecast above is based on data available as of the date of release of this document as well as assumptions based on uncertain factors, which might have a material effect on the Company's performance in the future.
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Consolidated Balance Sheets
(Millions of yen) | ||
As of March 31, 2023 | As of June 30, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 17,844 | 18,503 |
Notes and accounts receivable - trade, and contract | 42,978 | 38,680 |
assets | ||
Merchandise and finished goods | 27,977 | 30,102 |
Work in process | 2,495 | 2,559 |
Raw materials and supplies | 19,314 | 19,659 |
Other | 4,608 | 3,725 |
Allowance for doubtful accounts | (116) | (119) |
Total current assets | 115,101 | 113,111 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 20,185 | 20,152 |
Machinery, equipment and vehicles, net | 23,056 | 22,727 |
Land | 20,693 | 20,704 |
Construction in progress | 2,195 | 2,041 |
Other, net | 3,768 | 3,895 |
Total property, plant and equipment | 69,898 | 69,521 |
Intangible assets | ||
Other | 980 | 961 |
Total intangible assets | 980 | 961 |
Investments and other assets | ||
Investment securities | 23,696 | 24,853 |
Other | 11,546 | 11,463 |
Allowance for doubtful accounts | (133) | (113) |
Total investments and other assets | 35,109 | 36,204 |
Total non-current assets | 105,989 | 106,687 |
Total assets | 221,090 | 219,799 |
Note: All amounts are rounded down to the nearest million yen.
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(Millions of yen) | ||
As of March 31, 2023 | As of June 30, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 21,681 | 18,727 |
Short-term borrowings | 10,759 | 10,206 |
Current portion of bonds payable | 10,000 | 10,000 |
Income taxes payable | 814 | 800 |
Contract liabilities | 916 | 820 |
Provision for bonuses | 1,242 | 406 |
Provision for business restructuring | 445 | 158 |
Other | 15,213 | 18,403 |
Total current liabilities | 61,073 | 59,523 |
Non-current liabilities | ||
Bonds payable | 18,000 | 18,000 |
Long-term borrowings | 26,334 | 24,431 |
Provision for special repairs | 1,676 | 1,767 |
Retirement benefit liability | 5,571 | 5,553 |
Other | 572 | 550 |
Total non-current liabilities | 52,155 | 50,303 |
Total liabilities | 113,228 | 109,826 |
Net assets | ||
Shareholders' equity | ||
Share capital | 18,168 | 18,168 |
Capital surplus | 8,109 | 8,109 |
Retained earnings | 127,977 | 72,089 |
Treasury shares | (60,781) | (4,006) |
Total shareholders' equity | 93,474 | 94,360 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 5,832 | 6,352 |
Deferred gains or losses on hedges | 34 | (100) |
Foreign currency translation adjustment | 3,609 | 4,414 |
Remeasurements of defined benefit plans | 532 | 511 |
Total accumulated other comprehensive income | 10,008 | 11,177 |
Non-controlling interests | 4,378 | 4,433 |
Total net assets | 107,861 | 109,972 |
Total liabilities and net assets | 221,090 | 219,799 |
Note: All amounts are rounded down to the nearest million yen.
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Consolidated Statements of Income
(Millions of yen) | ||
Three months ended | Three months ended | |
June 30, 2022 | June 30, 2023 | |
Net sales | 37,331 | 39,010 |
Cost of sales | 27,365 | 29,428 |
Gross profit | 9,966 | 9,582 |
Selling, general and administrative expenses | 6,330 | 6,736 |
Operating profit | 3,635 | 2,845 |
Non-operating income | ||
Interest income | 138 | 29 |
Dividend income | 403 | 259 |
Share of profit of entities accounted for using equity | 362 | 257 |
method | ||
Foreign exchange gains | 875 | 431 |
Other | 653 | 506 |
Total non-operating income | 2,432 | 1,484 |
Non-operating expenses | ||
Interest expenses | 63 | 91 |
Taxes and dues | － | 237 |
Other | 337 | 164 |
Total non-operating expenses | 400 | 493 |
Ordinary profit | 5,667 | 3,837 |
Extraordinary income | ||
Gain on sale of non-current assets | 566 | － |
Gain on sale of investment securities | 1,072 | － |
Total extraordinary income | 1,639 | － |
Extraordinary losses | ||
Loss on sale of non-current assets | 10 | － |
Business restructuring expenses | 268 | － |
Total extraordinary losses | 279 | － |
Profit before income taxes | 7,027 | 3,837 |
Income taxes | 507 | 789 |
Profit | 6,520 | 3,048 |
Profit attributable to non-controlling interests | 290 | 217 |
Profit attributable to owners of parent | 6,229 | 2,831 |
Note: All amounts are rounded down to the nearest million yen.
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Central Glass Co. Ltd. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 10:01:03 UTC.
