KANEKO SEEDS 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 Nine Months Ended February 28, 2021 (Based on Japanese GAAP)
April 2, 2021 | ||||
Company name: | KANEKO SEEDS CO., LTD. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 1376 | URL http://www.kanekoseeds.jp | ||
Representative: | PRESIDENT | MASAHIKO KANEKO | ||
Inquiries: | SENIOR MANAGING DIRECTOR HEAD | HIROKATSU HASE | TEL 027-251-1619 | |
OF GENERAL ADMINISTRATION | ||||
Scheduled date to file Quarterly Securities Report: | April 9, 2021 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended February 28, 2021 (from June 1, 2020 to February 28, 2021)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | ||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||||
owners of parent | |||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||
Nine months ended February 28, 2021 | 37,669 | 4.2 | 479 | 22.8 | 576 | 19.3 | 415 | 23.8 | |||||||||
Nine months ended February 29, 2020 | 36,165 | (0.2) | 390 | (24.6) | 483 | (19.8) | 335 | (15.6) | |||||||||
Earnings per share | Diluted earnings per share | ||||||||||||||||
Yen | Yen | ||||||||||||||||
Nine months ended February 28, 2021 | 35.65 | - | |||||||||||||||
Nine months ended February 29, 2020 | 28.69 | - | |||||||||||||||
(2) Consolidated financial position | |||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||||
As of February 28, 2021 | 38,870 | 20,629 | 53.1 | 1,768.28 | |||||||||||||
As of May 31, 2020 | 46,792 | 20,401 | 43.6 | 1,748.70 | |||||||||||||
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 May 31, 2020 | - | 11.00 | - | 17.00 | 28.00 | ||||||||||||
Year ending May 31, 2021 | - | 11.00 | - | ||||||||||||||
Year ending May 31, 2021 (Forecast) | 17.00 | 28.00 |
3. Forecast of consolidated financial results for the year ending May 31, 2021 (from June 1, 2020 to May 31, 2021)
Percentages indicate year-on-year changes
Net sales | 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 | 59,500 | 2.3 | 1,550 | 4.2 | 1,650 | 2.3 | 1,150 | 2.5 | 98.57 |
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4. Notes
- Changes in significant subsidiaries during the nine months ended February 28, 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
Yes
(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 February 28, 2021 | 11,772,626 | shares | As of May 31, 2020 | 11,772,626 | shares | |
Number of treasury shares at the end of the period | ||||||
As of February 28, 2021 | 106,323 | shares | As of May 31, 2020 | 106,041 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Nine months ended February 28, 2021 | 11,666,474 | shares | Nine months ended February 29, 2020 | 11,708,265 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | |||
As of May 31, 2020 | As of February 28, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 4,744,528 | 3,447,948 | |
Notes and accounts receivable - trade | 22,835,109 | 15,050,091 | |
Merchandise | 8,464,509 | 9,242,825 | |
Other | 1,463,318 | 1,102,271 | |
Allowance for doubtful accounts | (23,063) | (14,991) | |
Total current assets | 37,484,403 | 28,828,145 | |
Non-current assets | |||
Property, plant and equipment | |||
Land | 4,210,675 | 4,192,872 | |
Other, net | 2,278,100 | 2,434,544 | |
Total property, plant and equipment | 6,488,776 | 6,627,416 | |
Intangible assets | 96,119 | 584,919 | |
Investments and other assets | |||
Other | 2,746,406 | 2,848,778 | |
Allowance for doubtful accounts | (23,087) | (19,180) | |
Total investments and other assets | 2,723,319 | 2,829,597 | |
Total non-current assets | 9,308,215 | 10,041,934 | |
Total assets | 46,792,619 | 38,870,079 | |
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 22,903,100 | 14,864,743 | |
Short-term borrowings | - | 880,000 | |
Income taxes payable | 234,102 | 21,044 | |
Other | 1,511,088 | 748,319 | |
Total current liabilities | 24,648,291 | 16,514,107 | |
Non-current liabilities | |||
Retirement benefit liability | 1,403,591 | 1,403,450 | |
Provision for share-based remuneration for directors (and | 16,192 | 33,292 | |
other officers) | |||
Other | 323,016 | 289,738 | |
Total non-current liabilities | 1,742,801 | 1,726,482 | |
Total liabilities | 26,391,092 | 18,240,589 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 1,491,267 | 1,491,267 | |
Capital surplus | 1,765,224 | 1,765,224 | |
Retained earnings | 16,604,614 | 16,691,848 | |
Treasury shares | (129,522) | (129,943) | |
Total shareholders' equity | 19,731,583 | 19,818,396 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 739,804 | 863,983 | |
Foreign currency translation adjustment | (41,850) | (39,434) | |
Remeasurements of defined benefit plans | (28,188) | (13,671) | |
Total accumulated other comprehensive income | 669,765 | 810,877 | |
Non-controlling interests | 177 | 216 | |
Total net assets | 20,401,526 | 20,629,490 | |
Total liabilities and net assets | 46,792,619 | 38,870,079 |
3
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | |||
Nine months ended | Nine months ended | ||
February 29, 2020 | February 28, 2021 | ||
Net sales | 36,165,667 | 37,669,025 | |
Cost of sales | 30,178,412 | 31,595,154 | |
Gross profit | 5,987,254 | 6,073,871 | |
Selling, general and administrative expenses | 5,596,458 | 5,594,005 | |
Operating profit | 390,796 | 479,865 | |
Non-operating income | |||
Dividend income | 30,260 | 33,059 | |
Rental income from buildings | 50,822 | 50,187 | |
Other | 30,881 | 34,797 | |
Total non-operating income | 111,964 | 118,044 | |
Non-operating expenses | |||
Interest expenses | 9,599 | 9,010 | |
Foreign exchange losses | 9,809 | 12,340 | |
Other | 53 | 39 | |
Total non-operating expenses | 19,462 | 21,390 | |
Ordinary profit | 483,298 | 576,520 | |
Extraordinary income | |||
Gain on sales of non-current assets | 42,412 | 224 | |
Gain on sales of investment securities | 774 | 3,044 | |
Compensation for forced relocation | - | 165,861 | |
Total extraordinary income | 43,186 | 169,131 | |
Extraordinary losses | |||
Loss on disposal of non-current assets | 29,895 | 41,235 | |
Impairment loss | - | 57,447 | |
Total extraordinary losses | 29,895 | 98,682 | |
Profit before income taxes | 496,590 | 646,968 | |
Income taxes | 160,626 | 231,005 | |
Profit | 335,963 | 415,963 | |
Profit attributable to non-controlling interests | 14 | 39 | |
Profit attributable to owners of parent | 335,949 | 415,923 |
4
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen) | ||
Nine months ended | Nine months ended | |
February 29, 2020 | February 28, 2021 | |
Profit | 335,963 | 415,963 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (22,117) | 124,178 |
Foreign currency translation adjustment | 6,681 | 2,416 |
Remeasurements of defined benefit plans, net of tax | 15,565 | 14,516 |
Total other comprehensive income | 128 | 141,111 |
Comprehensive income | 336,092 | 557,074 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 336,071 | 557,032 |
Comprehensive income attributable to non-controlling | 21 | 42 |
interests | ||
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Disclaimer
Kaneko Seeds Co. Ltd. published this content on 05 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2021 03:17:06 UTC.
