DAIICHIKOSHO CO., LTD. D A I I C H I K O S H O C O . , L T D .
Translation
This report is a translation of excerpts from original Japanese Flash Report and for reference purpose only. In case of discrepancy between this report and original Japanese Flash Report, the latter shall prevail.
FY2021, the year ended March 31, 2022
Flash Report on the Consolidated Results for the Year Ended March 31, 2022 [JGAAP]
May 12, 2022 | |
Company Name: | DAIICHIKOSHO CO., LTD. |
Stock Exchange Listing: | Tokyo Stock Exchange |
Code Number: | 7458 |
URL: | https://www.dkkaraoke.co.jp/ |
Representative: | Tadahiro Hoshi, President |
Contact: | Yasuhisa Nishihara, General Manager, Accounting Department |
Phone: | +81-3-3280-2151 |
Date of the Ordinary General Meeting of Shareholders: June 24, 2022
Start Date for Dividend Payment: | June 27, 2022 |
Scheduled Date to Submit the Securities Report: | June 28, 2022 |
Availability of Supplementary Briefing Material on Financial Results: Available
Schedule of Financial Results Briefing Session: None
(Amounts below one million yen are truncated.)
1. Consolidated Performance for the Year Ended March 31, 2022 (From April 1, 2021, to March 31, 2022)
(1) Consolidated operating results
Net sales | Operating income | Ordinary income | ||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
Year ended March 31, 2022 | 94,787 | 1.6 | (289) | ― | 888 | ― | ||
Year ended March 31, 2021 | 93,316 | (36.2) | (2,693) | ― | (1,194) | ― | ||
Net income attributable to | Basic earnings per share | Fully diluted net income | ||||||
owners of parent | per share | |||||||
Millions of yen | % | Yen | Yen | |||||
Year ended March 31, 2022 | 5,196 | ― | 95.21 | 95.07 | ||||
Year ended March 31, 2021 | (18,782) | ― | (338.54) | ― | ||||
(Note) Comprehensive income: | ||||||||
Year ended March 31, 2022: 5,170 million yen ― % | ||||||||
Year ended March 31, 2021: (17,514) million yen ― % | ||||||||
Return on equity | Ordinary income to total | Operating income to net | ||||||
assets | sales | |||||||
% | % | % | ||||||
Year ended March 31, 2022 | 5.0 | 0.5 | (0.3) | |||||
Year ended March 31, 2021 | (15.7) | (0.6) | (2.9) |
(Reference) Equity in net income of unconsolidated subsidiaries and affiliates: Year ended March 31, 2022: ― million yen
Year ended March 31, 2021: ― million yen
1
D A I I C H I K O S H O C O . , L T D .
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | ||
Millions of yen | Millions of yen | % | Yen | ||
As of March 31, 2022 | 180,389 | 105,160 | 57.4 | 1,896.65 | |
As of March 31, 2021 | 186,795 | 106,030 | 55.8 | 1,912.19 | |
(Reference) Shareholders' | equity: | ||||
As of March 31, 2022: | 103,543 million yen | ||||
As of March 31, 2021: | 104,258 million yen |
(3) Consolidated cash flows
Net cash provided | Net cash provided | Net cash provided | Cash and cash | |
by (used in) | by (used in) | by (used in) | equivalents at end | |
operating activities | investing activities | financing activities | of period | |
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
Year ended March 31, 2022 | 18,165 | (9,297) | (8,487) | 68,125 |
Year ended March 31, 2021 | 7,755 | (9,539) | 22,174 | 67,680 |
2. Dividend
Annual dividend | ||||||||
First Quarter | Second Quarter | Third Quarter | Year-end | Annual | ||||
Yen | Yen | Yen | Yen | Yen | ||||
Year ended March 31, 2021 | ― | 56.00 | ― | 57.00 | 113.00 | |||
Year ended March 31, 2022 | ― | 56.00 | ― | 57.00 | 113.00 | |||
Year ending March 31, 2023 | ― | 56.00 | ― | 57.00 | 113.00 | |||
(forecast) | ||||||||
Aggregate amount of | Payout ratio (consolidated) | Ratio of dividends to net | ||||||
dividend (total) | assets (consolidated) | |||||||
Millions of yen | % | % | ||||||
Year ended March 31, 2021 | 6,222 | ― | 5.3 | |||||
Year ended March 31, 2022 | 6,169 | 118.7 | 5.9 | |||||
Year ending March 31, | 68.5 | |||||||
2023 (forecast) | ||||||||
3. Forecast Consolidated Performance for FY2022, the Year Ending March 31, 2023 (From April 1, 2022, to March 31, 2023)
(Percentage figures indicate increase/decrease from a year earlier.) | ||||||||
Net sales | Operating income | Ordinary income | ||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
58,500 | 48.0 | 2,400 | ― | 3,000 | ― | |||
September 30, 2022 | ||||||||
Year ending March 31, | 126,000 | 32.9 | 10,000 | ― | 11,000 | ― | ||
2023 (full year) | ||||||||
Net income attributable to | Basic earnings per share | |||||||
owners of parent | ||||||||
Six months ending | Millions of yen | % | Yen | |||||
3,400 | ― | 62.28 | ||||||
September 30, 2022 | ||||||||
Year ending March 31, | 9,000 | 73.2 | 164.86 | |||||
2023 (full year) | ||||||||
2
D A I I C H I K O S H O C O . , L T D .
*Notes
- Significant changes in subsidiaries during the period under review (changes to specific subsidiaries resulting in changes in scope of consolidation): None
- Changes in accounting standard, accounting estimation change and error correction
- Changes due to changes in accounting standard: Yes
- Changes due to changes in accounting standard except (2) 1): None
- Changes due to accounting estimation change: None
- Error correction: None
(Note) For details, please refer to "Changes in Accounting Policies" on page 17.
(3) Number of common shares issued | |||||
1) | Number of shares issued | As of | 54,734,200 | As of | 57,234,200 |
(including treasury shares) | March 31, 2022 | shares | March 31, 2021 | shares | |
2) | Number of treasury shares | ||||
As of | 141,260 | As of | 2,711,167 | ||
3) | Average number of shares | March 31, 2022 | shares | March 31, 2021 | shares |
during the period | |||||
Year ended | 54,575,724 | Year ended | 55,479,828 | ||
March 31, 2022 | shares | March 31, 2021 | shares |
(Reference) Outline of Nonconsolidated Financial Results
1. Nonconsolidated Performance for the Year Ended March 31, 2022 (From April 1, 2021, to March 31, 2022)
(1) Nonconsolidated operating results
(Percentage figures indicate increase/decrease from a year earlier.) | |||||||||
Net sales | Operating income | Ordinary income | |||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
Year ended March 31, 2022 | 64,504 | 5.0 | (402) | ― | 511 | ― | |||
Year ended March 31, 2021 | 61,450 | (40.4) | (2,463) | ― | (1,299) | ― | |||
Net income | Basic earnings per share | Fully diluted net income | |||||||
per share | |||||||||
Millions of yen | % | Yen | Yen | ||||||
Year ended March 31, 2022 | 3,139 | ― | 57.53 | 57.44 | |||||
Year ended March 31, 2021 | (14,957) | ― | (269.60) | ― |
(2) Nonconsolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | ||
Millions of yen | Millions of yen | % | Yen | ||
As of March 31, 2022 | 140,877 | 54,998 | 38.9 | 1,003.41 | |
As of March 31, 2021 | 137,559 | 58,182 | 42.0 | 1,060.01 | |
(Reference) Shareholders' equity: |
As of March 31, 2022: 54,778 million yen
As of March 31, 2021: 57,794 million yen
- These consolidated financial results are outside the scope of audit by Certified Public Accountants or auditing corporations.
- Explanation for the appropriate use of performance forecasts and other special notes:
The statements regarding forecast of financial results in this report are based on the information that is available, a well as estimates, assumptions and projections that are believed to be reasonable at the time of publication. Therefore, there might be cases in which actual results greatly differ from forecast values. For the conditions underlying the assumptions made for financial results forecasts and their use, please see "1. Overview of Operating Results, etc. (4) Future Outlook" on page 8 of the Attachments.
3
D A I I C H I K O S H O C O . , L T D . | ||
Table of Contents - Attachments | ||
1. Overview of Operating Results, etc. ................................................................................................................ | 5 | |
(1) | Overview of Operating Results for the Fiscal Year under Review .............................................................. | 5 |
(2) | Overview of Financial Position for the Fiscal Year under Review .............................................................. | 7 |
(3) | Overview of Cash Flows for the Fiscal Year under Review ........................................................................ | 7 |
(4) | Future Outlook ............................................................................................................................................. | 8 |
2. Basic Policy on Selection of Accounting Standards ........................................................................................ | 8 | |
3. Consolidated Financial Statements and Principal Notes ................................................................................. | 9 | |
(1) | Consolidated Balance Sheets ....................................................................................................................... | 9 |
(2) | Consolidated Statements of Income and Comprehensive Income ............................................................. | 11 |
(Consolidated Statements of Income) .................................................................................................... | 11 | |
(Consolidated Statements of Comprehensive Income) .......................................................................... | 12 | |
(3) | Consolidated Statements of Changes in Equity ......................................................................................... | 13 |
(4) | Consolidated Statements of Cash Flows .................................................................................................... | 15 |
(5) | Notes to Consolidated Financial Statements ............................................................................................. | 17 |
(Notes on Going Concern Assumption) ................................................................................................. | 17 | |
(Changes in Accounting Policies) .......................................................................................................... | 17 | |
(Consolidated Statements of Income) .................................................................................................... | 18 | |
(Segment Information) ........................................................................................................................... | 18 | |
(Per Share Information) .......................................................................................................................... | 20 | |
(Significant Subsequent Events) ............................................................................................................ | 20 |
4
D A I I C H I K O S H O C O . , L T D .
1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
In the fiscal year ended March 31, 2022 (the "fiscal year under review"), due to the prolonged restrictions on economic activities caused by the COVID-19 pandemic, and the resurgence of infections in August, Japan's economy remained in a tough situation. As vaccinations progressed in Japan, infections calmed down since October, and economic activities started to show a sign of improvement. The outlook, however, remains unclear as the emergence of new variants may bring new waves of infection.
In the karaoke industry, where DAIICHIKOSHO CO., LTD. (the "Company," together with its subsidiaries, the "Group") operates, amid the issuance of declarations of state of emergency, quasi-emergency measures and related requests from authorities in large metropolitan areas, such as Tokyo, many karaoke cabins and restaurants both in the night business and the karaoke cabin markets, were forced to endure long-term shut downs and shorter business hours. Although the karaoke business tended to recover during the period when restrictions on operation were lifted, such as at the year-end, the severe business environment, as seen in the emergence of new variants and the self-restraints on business meals by companies, continued until the end of the period.
In the Group, both commercial karaoke and karaoke cabin and restaurant businesses that are the Group's core businesses continued to suffer a negative impact of the COVID-19 pandemic. Under the policy "control costs and increase sales," the Group worked on the reduction of fixed costs while securing cash on hand. The Group also made efforts to reinforce relationships with its commercial karaoke users to prepare for the market recovery phase while developing new revenue sources, such as through expanding the parking and delivery businesses.
Also, the Group posted 15,206 million yen of subsidies income (3,781 million yen in the previous fiscal year) in extraordinary income from various subsidies, such as employment adjustment subsidies and subsidies for shorter business hours. The Group also recorded costs related to the measures for state of emergency for COVID-19 of 6,452 million yen (8,883 million yen in the previous fiscal year) as loss on COVID-19 in extraordinary losses.
As a result, in the fiscal year under review, net sales amounted to 94,787 million yen (up 1.6% year on year), an operating loss was recorded of 289 million yen (a loss of 2,693 million yen in the previous year), and ordinary income was 888 million yen (a loss of 1,194 million yen in the previous year). Net income attributable to owners of parent amounted to 5,196 million yen (a loss of 18,782 million yen in the previous year) as extraordinary income increased by 10,998 million yen and extraordinary losses improved by 13,217 million yen from the previous fiscal year.
The Group plans to record approximately 2.0 billion yen in the fiscal year ending March 31, 2023 out of subsidies covering the fiscal year under review.
(Millions of yen) | ||||
FY2020 | FY2021 | Year-on-year change | % change | |
Net sales | 93,316 | 94,787 | 1,470 | 1.6% |
Operating income | (2,693) | (289) | 2,403 | ― |
Ordinary income | (1,194) | 888 | 2,083 | ― |
Net income attributable to | (18,782) | 5,196 | 23,978 | ― |
owners of parent | ||||
Operating results by segment are as follows.
(Commercial karaoke business)
In the commercial karaoke business, due to various requests for preventing the COVID-19 pandemic from authorities, especially in the first half of the fiscal year under review, most of our customers operating at night, such as snack bars, and karaoke cabins that are our customers continued to suffer from severe business conditions, such as long-term shutdowns and shorter business hours. In such an environment, we continued to support our customers through offerings and sales of infection-prevention goods ongoing from the previous fiscal year, and held online events and other efforts to reinforce the relationships with our customers mainly at nursing facilities in the seniors' market. Also, in April, we enhanced our product lineup by releasing a new karaoke machine with an antibacterial-treated main unit and remote controller for night karaoke business, "Cyber DAM+." In October, we released new contents "Liview!" where users can enjoy the atmosphere of live performances in karaoke cabins to improve our Karaoke DAM products by further expanding our visual contents.
Since October when the state of emergency was lifted, more karaoke cabins are being reopened and newly launched. Although the resurgence of infection in the new year had an impact, the number of DAM units in operation at the end of the fiscal year under review exceeded that of the previous fiscal year, albeit a little.
As a result, net sales and operating income grew by 2.9% and 11.4%, respectively, year on year.
We transferred fixed costs related to exemption measures during the period of state of emergency of 599 million yen
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Daiichikosho Co. Ltd. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2022 06:45:05 UTC.
