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 Three Months Ended May 31, 2022 (Based on Japanese GAAP)
July 12, 2022
Company name: | IZUMI CO., LTD. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 8273 | URL https://www.izumi.co.jp/ | ||
Representative: | President and Representative Director | Yasuaki Yamanishi | ||
Inquiries: | General Manager of Finance & Accounting | Kazunori Nishimoto | TEL +81-82-264-3211 | |
Department | ||||
Scheduled date to file Quarterly Securities Report: | July 13, 2022 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | Yes | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for three months ended May 31, 2022 (from March 1, 2022 to May 31, 2022)
(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 | % | ||
Three months ended May 31, 2022 | 110,112 | - | 7,868 | - | 7,940 | - | 5,295 | - | |
Three months ended May 31, 2021 | 164,954 | 10.7 | 7,832 | 24.2 | 8,050 | 26.1 | 5,081 | 52.7 | |
Earnings per share | Diluted earnings per share | ||||||||
Yen | Yen | ||||||||
Three months ended May 31, 2022 | 74.09 | - | |||||||
Three months ended May 31, 2021 | 70.97 | - |
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the fiscal year ending February 28, 2023, and each figure for the first three months of the fiscal year ending February 28, 2023 is the figure after applying the accounting standard and relevant ASBJ regulations. The percentage of year-on-year change is not shown. If the accounting standard and relevant ASBJ regulations had not been applied, operating revenue would have been ¥170,394 million (up 3.3% year on year).
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |
Millions of yen | Millions of yen | % | |
As of May 31, 2022 | 472,567 | 262,430 | 52.7 |
As of February 28, 2022 | 468,798 | 262,433 | 53.0 |
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter of the current fiscal year, and each figure for the first three months of the fiscal year ending February 28, 2023, is the figure after applying the accounting standard and relevant ASBJ regulations.
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, 2022 | - | 43.00 | - | 43.00 | 86.00 | |
Year ending February 28, 2023 | - | |||||
Year ending February 28, 2023 | 43.00 | - | 43.00 | 86.00 | ||
(Forecast) | ||||||
1
3. Forecast of consolidated financial results for the fiscal year ending February 28, 2023 (from March 1, 2022 to February 28, 2023) Percentages indicate year-on-year changes
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | ||||||||
owners of parent | ||||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
223,800 | - | 15,100 | - | 15,100 | - | 9,900 | - | 138.50 | ||||
August 31, 2022 | ||||||||||||
Full year | 454,300 | - | 32,600 | - | 32,600 | - | 20,900 | - | 292.40 |
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29) and relevant ASBJ regulations from the beginning of the fiscal year ending February 28, 2023, and each figure for the financial results forecasts for the fiscal year ending February 28, 2023, is the figure after applying the accounting standard and relevant ASBJ regulations. The percentage of year-on-year change is not shown. If the accounting standard and relevant ASBJ regulations had not been applied, the forecast for operating revenue would have been ¥341,500 million (up 2.9% year on year) for the six months ending August 31, 2022 (cumulative) and ¥697,100 million (up 3.0% year on year) for the full year.
4. Notes
- Changes in significant subsidiaries during the three months ended May 31, 2022 (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: | Yes |
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 May 31, 2022 | 71,665,200 | shares | As of February 28, 2022 | 71,665,200 | shares | |
Number of treasury shares at the end of the period | ||||||
As of May 31, 2022 | 187,968 | shares | As of February 28, 2022 | 187,562 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended May 31, 2022 | 71,477,411 | shares | Three months ended May 31, 2021 | 71,607,042 | shares |
2
Quarterly consolidated financial statements
Quarterly consolidated balance sheets
(Millions of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 11,621 | 9,912 | |
Notes and accounts receivable - trade, and contract assets | - | 48,106 | |
Notes and accounts receivable - trade | 42,794 | - | |
Merchandise and finished goods | 20,381 | 22,365 | |
Work in process | 95 | 104 | |
Raw materials and supplies | 681 | 655 | |
Other | 13,803 | 13,526 | |
Allowance for doubtful accounts | (511) | (509) | |
Total current assets | 88,867 | 94,161 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 149,504 | 148,232 | |
Land | 166,542 | 166,558 | |
Other, net | 13,320 | 13,750 | |
Total property, plant and equipment | 329,367 | 328,540 | |
Intangible assets | |||
Goodwill | 1,908 | 1,775 | |
Other | 9,325 | 9,249 | |
Total intangible assets | 11,234 | 11,024 | |
Investments and other assets | |||
Other | 39,791 | 39,302 | |
Allowance for doubtful accounts | (462) | (462) | |
Total investments and other assets | 39,329 | 38,840 | |
Total non-current assets | 379,931 | 378,405 | |
Total assets | 468,798 | 472,567 | |
3
(Millions of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 29,697 | 28,679 | |
Short-term borrowings | 10,220 | 10,400 | |
Current portion of long-term borrowings | 19,800 | 19,625 | |
Income taxes payable | 6,135 | 2,847 | |
Provision for bonuses | 2,246 | 3,854 | |
Provision for bonuses for directors (and other officers) | 26 | 7 | |
Contract liabilities | - | 6,623 | |
Provision for point card certificates | 2,496 | - | |
Provision for loss on recollection of gift certificates | 201 | - | |
Provision for loss on building demolition | 357 | 193 | |
Provision for loss on lease contracts | 32 | 32 | |
Other | 22,619 | 31,022 | |
Total current liabilities | 93,835 | 103,287 | |
Non-current liabilities | |||
Long-term borrowings | 69,327 | 63,807 | |
Provision for retirement benefits for directors (and other | 69 | 61 | |
officers) | |||
Provision for loss on interest repayment | 204 | 184 | |
Provision for loss on lease contracts | 424 | 415 | |
Retirement benefit liability | 9,251 | 9,340 | |
Asset retirement obligations | 9,143 | 9,178 | |
Other | 24,109 | 23,861 | |
Total non-current liabilities | 112,529 | 106,849 | |
Total liabilities | 206,364 | 210,136 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 19,613 | 19,613 | |
Capital surplus | 22,580 | 22,580 | |
Retained earnings | 206,121 | 206,893 | |
Treasury shares | (800) | (802) | |
Total shareholders' equity | 247,515 | 248,286 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,028 | 516 | |
Remeasurements of defined benefit plans | 145 | 152 | |
Total accumulated other comprehensive income | 1,173 | 668 | |
Non-controlling interests | 13,744 | 13,475 | |
Total net assets | 262,433 | 262,430 | |
Total liabilities and net assets | 468,798 | 472,567 | |
4
Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income Quarterly consolidated statements of income
(Millions of yen) | |||
Three months ended | Three months ended | ||
May 31, 2021 | May 31, 2022 | ||
Operating revenue | 164,954 | 110,112 | |
Net sales | 156,624 | 96,976 | |
Cost of sales | 121,360 | 64,653 | |
Gross profit | 35,264 | 32,322 | |
Operating revenue | 8,330 | 13,135 | |
Operating gross profit | 43,594 | 45,458 | |
Selling, general and administrative expenses | 35,761 | 37,589 | |
Operating profit | 7,832 | 7,868 | |
Non-operating income | |||
Interest and dividend income | 55 | 55 | |
Purchase discounts | 52 | 50 | |
Share of profit of entities accounted for using equity method | 23 | - | |
Other | 368 | 208 | |
Total non-operating income | 499 | 313 | |
Non-operating expenses | |||
Interest expenses | 150 | 119 | |
Share of loss of entities accounted for using equity method | - | 6 | |
Other | 131 | 115 | |
Total non-operating expenses | 282 | 241 | |
Ordinary profit | 8,050 | 7,940 | |
Extraordinary income | |||
Gain on sale of non-current assets | 0 | 32 | |
Subsidy income | - | 83 | |
Subsidy income | 11 | 13 | |
Other | 0 | - | |
Total extraordinary income | 11 | 128 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 35 | 84 | |
Impairment losses | 233 | - | |
Loss on store closings | 79 | - | |
Loss related to infectious disease | 81 | - | |
Other | 13 | 1 | |
Total extraordinary losses | 442 | 86 | |
Profit before income taxes | 7,619 | 7,983 | |
Income taxes - current | 2,365 | 2,663 | |
Income taxes - deferred | 64 | (59) | |
Total income taxes | 2,429 | 2,604 | |
Profit | 5,189 | 5,378 | |
Profit attributable to non-controlling interests | 108 | 82 | |
Profit attributable to owners of parent | 5,081 | 5,295 | |
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Izumi Co. Ltd. published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 01:38:06 UTC.