IZUMI CO., LTD. Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Six Months Ended August 31, 2021 (Based on Japanese GAAP)
Company name: | IZUMI CO., LTD. | |
Stock exchange listing: | Tokyo | |
Stock code: | 8273 | URL https://www.izumi.co.jp/ |
Representative: | President and Representative Director | |
Inquiries: | Executive Officer and General Manager of | |
Finance & Accounting Department | ||
Scheduled date to file Quarterly Securities Report: Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: Holding of quarterly financial results meeting:
October 12, 2021
Yasuaki Yamanishi | ||
Kiminari Taira | TEL +81-82-264-3211 | |
October 13, 2021 | ||
November 12, 2021 | ||
Yes | ||
Yes | (For institutional investors and analysts) |
(Amounts less than one million yen are rounded down) | ||||||||||||||||||||
1. Consolidated financial results for six months ended August 31, 2021 (from March 1, 2021 to August 31, 2021) | ||||||||||||||||||||
(1) Consolidated financial results (cumulative) | Percentages indicate year-on-year changes | |||||||||||||||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||||||
owners of parent | ||||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||||
Six months ended August 31, 2021 | 331,844 | 1.7 | 15,970 | (3.0) | 16,214 | (2.6) | 10,719 | 0.4 | ||||||||||||
Six months ended August 31, 2020 | 326,353 | (11.8) | 16,457 | 16.2 | 16,641 | 17.5 | 10,680 | 19.1 | ||||||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||||||
Yen | Yen | |||||||||||||||||||
Six months ended August 31, 2021 | 149.81 | - | ||||||||||||||||||
Six months ended August 31, 2020 | 149.05 | - | ||||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||||||
Millions of yen | Millions of yen | % | ||||||||||||||||||
As of August 31, 2021 | 467,700 | 252,535 | 51.2 | |||||||||||||||||
As of February 28, 2021 | 489,692 | 245,411 | 47.5 | |||||||||||||||||
2. Cash dividends | ||||||||||||||||||||
Annual dividends per share | ||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||||
Year ended February 28, 2021 | - | 40.00 | - | 43.00 | 83.00 | |||||||||||||||
Year ending February 28, 2022 | - | 43.00 | ||||||||||||||||||
Year ending February 28, 2022 | - | 43.00 | 86.00 | |||||||||||||||||
(Forecast) | ||||||||||||||||||||
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3. Forecast of consolidated financial results for the fiscal year ending February 28, 2022 (from March 1, 2021 to February 28, 2022) Percentages indicate year-on-year changes
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||||
owners of parent | |||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
Full year | 721,400 | 6.1 | 36,700 | 2.6 | 36,800 | 2.0 | 23,500 | 1.9 | 327.95 |
4. Notes
- Changes in significant subsidiaries during the six months ended August 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
No
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of August 31, 2021 | 71,665,200 | shares | As of February 28, 2021 | 71,665,200 | shares | |
Number of treasury shares at the end of the period | ||||||
As of August 31, 2021 | 187,224 | shares | As of February 28, 2021 | 8,106 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Six months ended August 31, 2021 | 71,551,778 | shares | Six months ended August 31, 2020 | 71,657,800 | shares |
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Quarterly consolidated financial statements
Quarterly consolidated balance sheets
(Millions of yen) | |||
As of February 28, 2021 | As of August 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 25,306 | 9,132 | |
Notes and accounts receivable - trade | 42,497 | 43,719 | |
Merchandise and finished goods | 21,661 | 20,855 | |
Work in process | 20 | 59 | |
Raw materials and supplies | 458 | 507 | |
Other | 17,717 | 13,612 | |
Allowance for doubtful accounts | (550) | (523) | |
Total current assets | 107,112 | 87,362 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 155,281 | 152,539 | |
Land | 163,136 | 163,192 | |
Other, net | 12,121 | 13,029 | |
Total property, plant and equipment | 330,539 | 328,760 | |
Intangible assets | |||
Goodwill | 2,441 | 2,174 | |
Other | 8,249 | 8,760 | |
Total intangible assets | 10,690 | 10,934 | |
Investments and other assets | |||
Other | 41,896 | 41,205 | |
Allowance for doubtful accounts | (546) | (563) | |
Total investments and other assets | 41,350 | 40,641 | |
Total non-current assets | 382,580 | 380,337 | |
Total assets | 489,692 | 467,700 | |
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(Millions of yen) | |||
As of February 28, 2021 | As of August 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 47,367 | 33,339 | |
Short-term borrowings | 1,300 | 6,900 | |
Current portion of long-term borrowings | 19,756 | 17,474 | |
Income taxes payable | 7,983 | 5,257 | |
Provision for bonuses | 2,204 | 2,853 | |
Provision for bonuses for directors (and other officers) | 36 | 6 | |
Provision for point card certificates | 2,416 | 2,506 | |
Provision for loss on recollection of gift certificates | 115 | 115 | |
Provision for loss on building demolition | 117 | 432 | |
Other | 32,298 | 23,855 | |
Total current liabilities | 113,596 | 92,740 | |
Non-current liabilities | |||
Long-term borrowings | 88,335 | 79,804 | |
Provision for retirement benefits for directors (and other | 915 | 88 | |
officers) | |||
Provision for loss on interest repayment | 146 | 139 | |
Provision for loss on building demolition | 436 | - | |
Retirement benefit liability | 8,852 | 9,018 | |
Asset retirement obligations | 8,267 | 9,040 | |
Other | 23,731 | 24,332 | |
Total non-current liabilities | 130,684 | 122,424 | |
Total liabilities | 244,281 | 215,164 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 19,613 | 19,613 | |
Capital surplus | 22,545 | 22,580 | |
Retained earnings | 189,072 | 196,709 | |
Treasury shares | (30) | (799) | |
Total shareholders' equity | 231,200 | 238,105 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,171 | 1,235 | |
Remeasurements of defined benefit plans | 123 | 134 | |
Total accumulated other comprehensive income | 1,294 | 1,369 | |
Non-controlling interests | 12,915 | 13,060 | |
Total net assets | 245,411 | 252,535 | |
Total liabilities and net assets | 489,692 | 467,700 | |
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Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income Quarterly consolidated statements of income
(Millions of yen) | |||
Six months ended | Six months ended | ||
August 31, 2020 | August 31, 2021 | ||
Net sales | 309,408 | 315,182 | |
Cost of sales | 237,506 | 243,266 | |
Gross profit | 71,901 | 71,915 | |
Operating revenue | 16,944 | 16,661 | |
Operating gross profit | 88,846 | 88,577 | |
Selling, general and administrative expenses | 72,389 | 72,606 | |
Operating profit | 16,457 | 15,970 | |
Non-operating income | |||
Interest and dividend income | 134 | 118 | |
Purchase discounts | 85 | 96 | |
Share of profit of entities accounted for using equity method | 71 | 17 | |
Other | 808 | 605 | |
Total non-operating income | 1,101 | 837 | |
Non-operating expenses | |||
Interest expenses | 372 | 295 | |
Other | 543 | 298 | |
Total non-operating expenses | 916 | 593 | |
Ordinary profit | 16,641 | 16,214 | |
Extraordinary income | |||
Gain on sales of non-current assets | 0 | 44 | |
Gain on sales of investment securities | 2,001 | 0 | |
Subsidy income | - | 248 | |
Other | - | 11 | |
Total extraordinary income | 2,001 | 305 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 25 | 58 | |
Impairment loss | 1 | 233 | |
Loss on store closings | - | 85 | |
Loss related to infectious disease | 2,074 | 140 | |
Other | 144 | 19 | |
Total extraordinary losses | 2,245 | 537 | |
Profit before income taxes | 16,397 | 15,983 | |
Income taxes - current | 4,941 | 4,810 | |
Income taxes - deferred | (61) | 284 | |
Total income taxes | 4,879 | 5,095 | |
Profit | 11,518 | 10,887 | |
Profit attributable to non-controlling interests | 837 | 168 | |
Profit attributable to owners of parent | 10,680 | 10,719 | |
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Izumi Co. Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 02:31:07 UTC.
