Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Second Quarter of the Fiscal Year Ending March 31, 2024

[Japanese GAAP]

October 31, 2023

Company name: INFOCOM CORPORATION

Stock exchange listing: Tokyo

Code number: 4348

URL: https://www.infocom.co.jp/

Representative: Jun Kuroda

President and CEO

Contact: Hiroshi Imafuku

Head of Corporate Communications Office

Phone: +81-3-6866-3160

Scheduled date of filing quarterly securities report: November 10, 2023

Scheduled date of commencing dividend payments: November 30, 2023

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: Yes

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 to September 30, 2023)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30, 2023

40,050

21.2

4,177

12.6

4,234

11.9

2,824

65.3

September 30, 2022

33,035

1.8

3,710

(25.8)

3,785

(25.1)

1,708

(50.4)

(Note) Comprehensive income:

Six months ended September 30, 2023:

Six months ended September 30, 2022:

¥

2,863 million

[

92.6%]

¥

1,487 million

[

(52.0) %]

Basic earnings

Diluted earnings per

per share

share

Six months ended

Yen

Yen

September 30, 2023

51.51

51.30

September 30, 2022

31.18

31.05

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

As of

Millions of yen

Millions of yen

%

September 30, 2023

63,224

46,477

73.0

March 31, 2023

60,287

45,194

74.3

(Reference) Equity:

As of September 30, 2023:

¥

46,122 million

As of March 31, 2023:

¥

44,816 million

―1―

2. Dividends

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

18.00

-

32.00

50.00

Fiscal year ending March 31, 2024

-

18.00

Fiscal year ending March 31, 2024

-

27.00

45.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently:

No

(Note)

Breakdown of the year-end dividend for the fiscal year ended March 31, 2023:

Commemorative dividend

5.00

yen

Special dividend

-

yen

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

owners of parent

per share

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

82,500

17.3

10,000

17.3

10,000

16.3

6,700

87.6

122.28

(Note) Revision to the financial results forecast announced most recently:

No

* Notes:

(1) Changes in significant subsidiaries during the six months ended September 30, 2023

(changes in specified subsidiaries resulting in changes in scope of consolidation):

No

New

-

(Company name:

)

Exclusion:

-

(Company name:

)

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

No

  1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: No
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  3. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

September 30, 2023:

57,600,000

shares

March 31, 2023:

57,600,000

shares

2) Number of treasury shares at the end of the period:

September 30, 2023:

2,725,882

shares

March 31, 2023:

2,809,562

shares

3) Average number of shares outstanding during the period:

Six months ended September 30, 2023:

54,825,532

shares

Six months ended September 30, 2022:

54,783,076

shares

―2―

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2023

As of September 30, 2023

Assets

Current assets

Cash and deposits

35,575

35,781

Notes and accounts receivable - trade, and contract

11,757

11,212

assets

Inventories

83

186

Other

1,695

2,230

Allowance for doubtful accounts

(0)

(3)

Total current assets

49,111

49,407

Non-current assets

Property, plant and equipment

1,140

1,410

Intangible assets

Software

2,198

2,435

Goodwill

419

1,053

Other

33

858

Total intangible assets

2,650

4,347

Investments and other assets

Investments and other assets

7,386

8,060

Allowance for doubtful accounts

(1)

(1)

Total investments and other assets

7,385

8,058

Total non-current assets

11,176

13,817

Total assets

60,287

63,224

Liabilities

Current liabilities

Accounts payable - trade

5,212

5,768

Income taxes payable

1,437

1,409

Provision for bonuses

1,302

1,083

Other provisions

23

25

Other

6,642

7,648

Total current liabilities

14,619

15,935

Non-current liabilities

Retirement benefit liability

67

76

Other provisions

52

52

Other

353

681

Total non-current liabilities

474

811

Total liabilities

15,093

16,746

Net assets

Shareholders' equity

Share capital

1,590

1,590

Capital surplus

1,485

1,642

Retained earnings

41,961

43,032

Treasury shares

(790)

(766)

Total shareholders' equity

44,246

45,497

Accumulated other comprehensive income

Valuation difference on available-for-sale

390

290

securities

Foreign currency translation adjustment

178

334

Total accumulated other comprehensive income

569

625

Share acquisition rights

213

206

―3―

(Millions of yen)

As of March 31, 2023

As of September 30, 2023

Non-controlling interests

164

148

Total net assets

45,194

46,477

Total liabilities and net assets

60,287

63,224

―4―

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the six months)

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Net sales

33,035

40,050

Cost of sales

17,557

21,311

Gross profit

15,477

18,739

Selling, general and administrative expenses

11,767

14,562

Operating profit

3,710

4,177

Non-operating income

Interest and dividend income

85

45

Partnership gain

-

6

Other

4

9

Total non-operating income

89

61

Non-operating expenses

Interest expenses

1

1

Foreign exchange losses

2

2

Partnership loss

9

-

Other

0

0

Total non-operating expenses

13

4

Ordinary profit

3,785

4,234

Extraordinary income

Gain on sale of investment securities

-

28

Total extraordinary income

-

28

Extraordinary losses

Impairment losses

719

-

Loss on retirement of non-current assets

2

24

Loss on valuation of investment securities

118

21

Total extraordinary losses

840

46

Profit before income taxes

2,945

4,217

Income taxes

1,238

1,411

Profit

1,707

2,805

Loss attributable to non-controlling interests

(0)

(18)

Profit attributable to owners of parent

1,708

2,824

―5―

Quarterly Consolidated Statements of Comprehensive Income (For the six months)

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Profit

1,707

2,805

Other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Foreign currency translation adjustment

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

Comprehensive income attributable to non-controlling interests

(483)

(99)

0

-

262

158

(220)

58

1,487

2,863

1,485

2,879

1

(16)

―6―

Quarterly Consolidated Statements of Cash Flows

(Millions of yen)

For the six months

For the six months

ended September 30, 2022

ended September 30, 2023

Cash flows from operating activities

Profit before income taxes

2,945

4,217

Depreciation

491

571

Share-based payment expenses

17

24

Impairment losses

719

-

Amortization of goodwill

81

41

Increase (decrease) in provisions

(269)

(210)

Interest and dividend income

(85)

(45)

Interest expenses

1

1

Loss on retirement of non-current assets

2

24

Loss (gain) on sale of investment securities

-

(28)

Loss (gain) on valuation of investment securities

118

21

Decrease (increase) in trade receivables and contract

1,084

1,041

assets

Decrease (increase) in inventories

(56)

(52)

Increase (decrease) in trade payables

693

446

Other, net

316

294

Subtotal

6,060

6,346

Interest and dividends received

79

42

Interest paid

(1)

(1)

Income taxes paid

(2,051)

(2,052)

Income taxes refund

221

265

Net cash provided by (used in) operating activities

4,308

4,600

Cash flows from investing activities

Purchase of property, plant and equipment

(66)

(231)

Purchase of intangible assets

(515)

(593)

Purchase of investment securities

(499)

(514)

Proceeds from sale of investment securities

-

28

Payments of guarantee deposits

(25)

(94)

Proceeds from refund of guarantee deposits

745

1

Purchase of shares of subsidiaries resulting in change

-

(1,331)

in scope of consolidation

Other, net

(23)

2

Net cash provided by (used in) investing activities

(385)

(2,731)

Cash flows from financing activities

Repayments of lease liabilities

(13)

(8)

Dividends paid

(2,026)

(1,753)

Other, net

(19)

(14)

Net cash provided by (used in) financing activities

(2,060)

(1,775)

Effect of exchange rate change on cash and cash

75

63

equivalents

Net increase (decrease) in cash and cash equivalents

1,939

156

Cash and cash equivalents at beginning of period

31,700

35,575

Cash and cash equivalents at end of period

33,640

35,732

―7―

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Infocom Corporation published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 03:16:50 UTC.