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 Six Months Ended November 30, 2021 (Based on Japanese GAAP)
January 5, 2022 | ||||
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: | January 12, 2022 | |||
Scheduled date to commence dividend payments: | February 7, 2022 | |||
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 the six months ended November 30, 2021 (from June 1, 2021 to November 30, 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 | % | |||||||||
Six months ended November 30, 2021 | 25,905 | (1.1) | 261 | 6.2 | 337 | 12.4 | 196 | (12.0) | ||||||||
Six months ended November 30, 2020 | 26,181 | 4.3 | 246 | 61.6 | 300 | 39.1 | 223 | 45.1 | ||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||
Yen | Yen | |||||||||||||||
Six months ended November 30, 2021 | 16.85 | - | ||||||||||||||
Six months ended November 30, 2020 | 19.16 | - | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||
As of November 30, 2021 | 38,635 | 21,709 | 56.2 | 1,859.99 | ||||||||||||
As of May 31, 2021 | 47,452 | 21,696 | 45.7 | 1,859.82 | ||||||||||||
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, 2021 | - | 11.00 | - | 18.00 | 29.00 | |||||||||||
Year ending May 31, 2022 | - | 11.00 | ||||||||||||||
Year ending May 31, 2022 (Forecast) | - | 18.00 | 29.00 |
3. Forecast of consolidated financial results for the year ending May 31, 2022 (from June 1, 2021 to May 31, 2022)
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 | 61,000 | 0.4 | 1,600 | (3.7) | 1,700 | (3.7) | 1,100 | (23.4) | 94.29 |
1
4. Notes
- Changes in significant subsidiaries during the six months ended November 30, 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: | 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 November 30, 2021 | 11,772,626 | shares | As of May 31, 2021 | 11,772,626 | shares | |
Number of treasury shares at the end of the period | ||||||
As of November 30, 2021 | 101,023 | shares | As of May 31, 2021 | 106,548 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Six months ended November 30, 2021 | 11,668,452 | shares | Six months ended November 30, 2020 | 11,666,522 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | |||
As of May 31, 2021 | As of November 30, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 5,819,502 | 4,436,241 | |
Notes and accounts receivable - trade | 21,887,080 | 13,385,701 | |
Merchandise | 8,150,033 | 7,445,792 | |
Other | 1,608,926 | 2,988,164 | |
Allowance for doubtful accounts | (21,979) | (12,991) | |
Total current assets | 37,443,562 | 28,242,907 | |
Non-current assets | |||
Property, plant and equipment | |||
Land | 4,009,290 | 4,003,890 | |
Other, net | 2,428,319 | 2,517,662 | |
Total property, plant and equipment | 6,437,610 | 6,521,552 | |
Intangible assets | 733,683 | 975,697 | |
Investments and other assets | |||
Other | 2,856,353 | 2,915,023 | |
Allowance for doubtful accounts | (19,177) | (19,419) | |
Total investments and other assets | 2,837,175 | 2,895,603 | |
Total non-current assets | 10,008,469 | 10,392,853 | |
Total assets | 47,452,032 | 38,635,761 | |
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 22,522,053 | 11,885,606 | |
Short-term borrowings | - | 1,490,000 | |
Income taxes payable | 250,761 | 113,200 | |
Other | 1,325,948 | 1,819,394 | |
Total current liabilities | 24,098,762 | 15,308,202 | |
Non-current liabilities | |||
Retirement benefit liability | 1,330,235 | 1,324,291 | |
Provision for share awards for directors (and other | 39,368 | 41,104 | |
officers) | |||
Other | 286,711 | 252,864 | |
Total non-current liabilities | 1,656,315 | 1,618,260 | |
Total liabilities | 25,755,078 | 16,926,462 |
3
(Thousands of yen) | |||
As of May 31, 2021 | As of November 30, 2021 | ||
Net assets | |||
Shareholders' equity | |||
Share capital | 1,491,267 | 1,491,267 | |
Capital surplus | 1,765,224 | 1,765,224 | |
Retained earnings | 17,711,991 | 17,655,483 | |
Treasury shares | (130,303) | (122,324) | |
Total shareholders' equity | 20,838,179 | 20,789,649 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 856,070 | 915,265 | |
Foreign currency translation adjustment | (24,937) | (36,070) | |
Remeasurements of defined benefit plans | 27,435 | 40,212 | |
Total accumulated other comprehensive income | 858,569 | 919,406 | |
Non-controlling interests | 205 | 242 | |
Total net assets | 21,696,954 | 21,709,299 | |
Total liabilities and net assets | 47,452,032 | 38,635,761 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | |||
Six months ended | Six months ended | ||
November 30, 2020 | November 30, 2021 | ||
Net sales | 26,181,667 | 25,905,682 | |
Cost of sales | 22,122,830 | 21,804,279 | |
Gross profit | 4,058,837 | 4,101,402 | |
Selling, general and administrative expenses | 3,812,134 | 3,839,474 | |
Operating profit | 246,702 | 261,928 | |
Non-operating income | |||
Dividend income | 21,154 | 24,621 | |
Rental income from buildings | 32,879 | 35,650 | |
Other | 10,227 | 28,378 | |
Total non-operating income | 64,261 | 88,650 | |
Non-operating expenses | |||
Interest expenses | 6,627 | 6,480 | |
Foreign exchange losses | 3,856 | 6,426 | |
Other | 297 | 406 | |
Total non-operating expenses | 10,781 | 13,312 | |
Ordinary profit | 300,182 | 337,265 | |
Extraordinary income | |||
Gain on sale of non-current assets | 224 | - | |
Compensation for forced relocation | 23,094 | - | |
Total extraordinary income | 23,319 | - | |
Extraordinary losses | |||
Loss on disposal of non-current assets | 88 | 40,748 | |
Impairment losses | - | 5,400 | |
Total extraordinary losses | 88 | 46,148 | |
Profit before income taxes | 323,413 | 291,117 | |
Income taxes | 99,826 | 94,443 | |
Profit | 223,587 | 196,673 | |
Profit attributable to non-controlling interests | 36 | 37 | |
Profit attributable to owners of parent | 223,550 | 196,635 |
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Kaneko Seeds Co. Ltd. published this content on 06 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2022 01:47:09 UTC.
