KYORITSU MAINTENANCE CO., LTD. Kyoritsu Maintenance Co., Ltd.
(Securities Code: 9616)
Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2023
［JGAAP］
Aug 2022
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Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending
March 31, 2023 [based on Japanese GAAP]
Aug 9, 2022 | ||||
Name of listed company | Kyoritsu Maintenance Co., Ltd. | Listed exchange: Tokyo | ||
Code | 9616 | URL https://www.kyoritsugroup.co.jp/ | ||
Representative | (Title) | President | (Name) Koji Nakamura | |
Contact | (Title) | Managing Director | (Name) Manabu Takaku | Tel +81-3-5295-7778 |
Scheduled filing date of Quarterly Report: | Aug 10, 2022 | |||
Scheduled date of start of dividend payment: | - |
Supplementary materials for the quarterly financial results: Yes
Investor conference for the quarterly financial results: None
(Rounded down to the nearest million yen)
1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2023 (April 1, 2022 to June 30, 2022)
- Consolidated Operating Results
(Percentage figures represent year-over-year changes)
Profit (loss) | |||||||||||||
Net sales | Operating profit | Ordinary profit | attributable to owners | ||||||||||
of parent | |||||||||||||
Million | % | Million yen | % | Million | % | Million | % | ||||||
yen | yen | yen | |||||||||||
The three months ended June 30, 2022 | 39,252 | 32.4 | 1,076 | － | 1,075 | － | 691 | － | |||||
The three months ended June 30, 2021 | 29,643 | 25.6 | -4,054 | － | -3,636 | － | -2,799 | － | |||||
(Note) Comprehensive income: | The three months ended June 30, 2022: 915 million yen (-%) | ||||||||||||
The three months ended June 30, 2021: -2,813 million yen (-%) | |||||||||||||
Profit (loss) | Diluted net income | ||||||||||||
per share | per share | ||||||||||||
Yen | Yen | ||||||||||||
The three months ended June 30, 2022 | 17.74 | 15.13 | |||||||||||
The three months ended June 30, 2021 | -71.80 | - | |||||||||||
(Note) Diluted net income per share is omitted since the Company recorded net loss per share for the last fiscal year and there were no potentially dilutive shares.
(2) Consolidated financial position | |||||
Total assets | Total net assets | Equity ratio | Net assets per share | ||
Million yen | Million yen | % | Yen | ||
As of June 30, 2022 | 235,814 | 71,110 | 30.2 | 1,823.85 | |
As of March 31, 2022 | 241,723 | 70,586 | 29.2 | 1,810.40 | |
(Reference) Shareholders' Equity: | As of June 30, 2022: 71,110 million yen As of March 31, 2022: 70,586 million yen |
2. | Dividends | ||||||
Annual dividends | |||||||
Q1 end | Q2 end | Q3 end | Year end | Total | |||
Year ended March 31, | Yen | Yen | Yen | Yen | Yen | ||
－ | 10.00 | － | 10.00 | 20.00 | |||
2022 | |||||||
Year | ending March | － | |||||
31, 2023 | |||||||
Year ending March | － | 10.00 | － | 10.00 | 20.00 | ||
31,2023 (Forecast) | |||||||
(Note) Revision from most recently announced dividends forecasts: None |
3. Forecasted consolidated results for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)
(Percentage figures represent year-over-year changes) | ||||||||||||||
Net income | Net income per | |||||||||||||
Net sales | Operating profit | Ordinary profit | attributable to | |||||||||||
share | ||||||||||||||
ownersof the parent | ||||||||||||||
Million | % | Million | % | Million | % | Million | % | Yen | ||||||
yen | yen | yen | yen | |||||||||||
Full Year | 174,000 | 0.2 | 3,000 | 109.6 | 2,200 | 21.3 | 1,000 | 85.5 | 25.65 |
(Note) Revision from most recently announced earnings forecasts: None
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*Notes
- Changes in major subsidiaries during the period under review (changes in specific subsidiaries accompanied by changes in the scope of consolidation): None
- Application of special accounting treatment in the preparation of the quarterly consolidated financial statements: Yes
(Note) For details, please see "(3) Notes on Quarterly Consolidated Financial Statements (Application of special accounting procedures in the preparation of quarterly consolidated financial statements)" under "2. Quarterly Financial Statements and Major Notes" on page 11.
(3) Changes in accounting policies, changes in accounting estimates, and restatements | |
(i) Changes in accounting policies due to revision of accounting standards, etc.: | Yes |
(ii) Changes in accounting policies other than those under (i) above: | None |
(iii) Changes in accounting estimates: | None |
(iv) Retrospective restatements: | None |
- Number of issued shares (common stock)
- Number of issued shares at the end of the period (including treasury shares)
- Number of treasury shares at the end of the period
- Average number of shares
during the period
As of June 30, | 39,219,818 | Year ended | 39,219,818 |
2022 | shares | March 31, 2022 | shares |
As of June 30, | 230,707 | Year ended | 230,499 |
2022 | Shares | March 31, 2022 | shares |
As of June 30, | 38,989,215 | As of June 30, 2021 | 38,990,194 |
2022 | shares | shares | |
*Summaries of financial results are not subject to auditing by a certified public accountant or auditing firm.
*Explanation of the appropriate use of earnings forecasts and other special notes (Note concerning forward-looking statements)
The forward-looking statements, including earnings forecasts and other future projections contained in this document are based on information available to the Company at the time of preparation and on certain assumptions deemed reasonable by the Company. As such, they do not constitute an assurance that the Company promises to achieve these projected results. Actual business results may differ materially from the forecasts due to various factors.
Please see "(3) Explanation of Forecasts of Consolidated Results and Other Forward-Looking Information" under "1.Qualitative Information on Quarterly Results" on page 6 for the assumptions used for the forecast of financial results and notes concerning the use of the forecast of financial results.
(How to obtain supplementary materials of financial results)
Supplementary materials of quarterly financial results are posted on the Company website.
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Table of contents for attatched materials | ||
(2) | Explanation of Financial Position .................................................................................................................................................... | 6 |
(3) | Explanation of Forecasts of Consolidated Results and Other Forward-Looking Information ......................................................... | 6 |
2. Quarterly Financial Statements and Major Notes .................................................................................................................................. | 7 | |
(1) | Quarterly Consolidated Balance Sheet............................................................................................................................................. | 7 |
(2) | Quarterly Consolidated Income Statement and Quarterly Consolidated Statement of Comprehensive Income .............................. | 9 |
(Quarterly Consolidated Income Statement) ..................................................................................................................................... | 9 | |
(Three Months Ended June 30, 2022)................................................................................................................................................ | 9 | |
(Quarterly consolidated statement of comprehensive income) ........................................................................................................ | 10 | |
(Three Months Ended June 30, 2022).............................................................................................................................................. | 10 | |
(3) | Notes on Quarterly Consolidated Financial Statements ................................................................................................................ | 11 |
(Notes on the going concern assumption)........................................................................................................................................ | 11 | |
(Notes concerning any notable changes in shareholders' equity)................................................................................................ | - 11 - | |
(Application of special accounting procedures in the preparation of quarterly consolidated financial statements) .................... | - 11 - | |
(Changes in accounting policies)................................................................................................................................................ | - 11 - | |
(Additional information) ............................................................................................................................................................ | - 11 - | |
(Segment Information) .................................................................................................................................................................... | 12 |
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1.Qualitative Information on Quarterly Results
-
Explanation of Operating Results
During the first three months of the current fiscal year, the Japanese economy saw a gradual normalization of economic activities thanks to penetration of preventive measures and increased vaccination rate concerning COVID-19. However, the future outlook remains uncertain due to the resurgence of COVID-19 since late June, in addition to energy price hikes caused by the Ukraine crisis.
The Group was able to start this fiscal year without any behavioral restrictions for the first time in three years. Especially in the Hotel Business segment, occupancy rate and room rates recovered nearly to the levels of the first quarter of the fiscal year ended March 31, 2020, which is before the COVID-19 pandemic, mainly thanks in part to the large number of guests who stayed during Golden Week. The Group has continued to thoroughly implement COVID-19 preventive measures (such as temperature checks, disinfection, photocatalysis, and non-contact measures) and also actively addressed the SDGs (reducing excessive consumption, waste reduction, etc.).
As a result, for the first three months of the current fiscal year show net sales of 39,252 million yen (up 32.4% YoY); operating profit was 1,076 million yen (vs. operating loss of 4,054 million yen in the same period of the previous year); ordinary profit was 1,075 million yen (vs. ordinary loss of 3,636 million yen); and profit attributable to owners of parent was 691 million yen (vs. loss of 2,799 million yen), marking the first time in three fiscal years that the Company has returned to profitability in the first three months of a consolidated fiscal year.
Segment business performance is reviewed below.
(i) Dormitory Business
In the Dormitory Business segment, the Group newly opened a total of nineteen business offices and 1,921 rooms nationwide in April 2022. The initial occupancy rate started the period at 93.5% (up 1.4 point YoY) due to a significant increase in the number of Japanese students, partly due to the renewed appreciation of the safety and security of our dormitory establishment in the COVID-19 pandemic, and partly due to our focus on capturing domestic demand. Also, the number of foreign students has increase YoY, and has been on the rise since July due to the easing of immigration restrictions.
As a result, net sales amounted to 12,832 million yen (up 6.4% YoY) while operating profit remained at 1,270 million yen (down 11.0% YoY), due to costs of opening new offices and rooms, and higher energy prices.
(ii) Hotel Business
In the Hotel Business segment, the Group newly opened three business facilities in the Dormy Inn Business; "Natural Hot Springs Hana-Nami-No-Yu, ONYADO NONO Yodoyabashi", "Natural Hot Springs Fuji-Zakura-No-Yu, Dormy Inn EXPRESS Fujisan Gotemba" and "Natural Hot Springs Morito-no-Yu, ONYADO NONO Sendai", and "Kyoto Umekoji Kadensho" in the Resorts Business. In the current fiscal year, the Group welcomed the Golden Week holidays in May without any restrictions on activities for the first time since 2019, and many guests enjoyed our highly acclaimed services, including the hot spring baths and authentic saunas, which are the features of our hotels, as well as our special meals and Yonaki noodle. In addition, the favorable effects of measures to stimulate tourism demand, such as the prefectural and regional residents' discounts, resulted in significant increases in net sales and operating profit in the Dormy Inn Business as well as the Resorts Business.
As a result, net sales amounted to 20,599 million yen (up 86.4% YoY) and operating profit turned positive amounting to 192 million yen (vs. operating loss of 4,908 million yen in the same period of the previous fiscal year).
(iii) Comprehensive Building Management Business
In the Comprehensive Building Management Business, net sales were 4,023 million yen (up 28.3% YoY) and operating profit was 117 million yen (vs. operating loss of 31 million yen in the same period of the previous fiscal year), mainly due to an increase in hotel cleaning services and construction projects.
(iv) Food Service Business
In the Food Service Business, net sales were 2,022 million yen (up 51.2% YoY) and operating profit was 111 million yen (vs. operating loss of 39 million yen in the same period of the previous fiscal year) due to an increase in hotel restaurant contracts and the easing of restrictions on restrictions for restaurants.
(v) Development Business
The Development Business reported net sales of 274 million yen (down 85.5% YoY) and operating profit of 16 million yen
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KYORITSU Maintenance Co. Ltd. published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 15:53:40 UTC.
