Tokyo Stock Exchange (TSE): 6264

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

MARUMAE CO., LTD.

Q1 FY2022 Financial Results Summary

December 28, 2021

TECHNOLOGY FOR THE FUTURE

Manufacturer of vacuum components for semiconductor and FPD production equipment

Marumae Co., Ltd. All Rights Reserved

1. Overview of Financial Results

P/L Analysis

P/L

First Quarter of

First Quarter of

the Fiscal Year

the Fiscal Year

Ended August 31, 2021

Ending August 31, 2022

Amount

Ratio

Amount

Ratio

YoY change ratio

(million yen)

(%)

(million yen)

(%)

(%)

Point

1. Status of orders received* Semiconductor sector: 1,873 million yen

(107.4% YoY increase)

Orders received*

Balance of the orders received*

Net sales*

Cost of sales*

Gross profit

Selling and administrative expenses

Operating profit

Ordinary profit

Extraordinary loss (income)

Profit

EPS (yen)

1,110

ー

2,496

ー

124.8

826

ー

2,411

ー

191.8

1,100

100.0

1,938

100.0

76.1

767

69.7

1,150

59.3

49.9

333

30.3

788

40.7

136.3

133

12.1

193

10.0

44.9

200

18.2

595

30.7

197.0

200

18.2

592

30.6

196.0

0

0.0

0

0.0

(100.0)

137

12.5

422

21.8

206.5

10.76

ー

32.98

ー

206.5

FPD sector: 619 million yen (300.6% YoY increase)

Other sectors: 3 million yen (93.0% YoY decrease)

2. Net sales*

76.1% YoY increase

*The details for each sector are listed on the next page.

3. Cost of sales*

Material cost*: 185 million yen increase (122.6% YoY increase)

Outsourcing expenses: 192 million yen increase (145.7% YoY increase)

Labor costs: 99 million yen increase (40.3% YoY increase)

Depreciation: 11 million yen increase (8.1% YoY increase)

4. Selling and administrative expenses

Personnel expenses: 16 million yen increase

Research and development expenses: 21 million yen increase

*Orders received and orders backlogged for the first quarter of the fiscal year ending August 31, 2022, include materials supplied at cost. The percentage change from the same period of the previous fiscal year in net sales, cost of sales, and material costs for the said first quarter are calculated based on the actual results for the same quarter of the previous fiscal year before the application of the "Accounting Standard for Revenue Recognition," which are calculated in the same manner on the following pages.

Marumae Co., Ltd. All Rights Reserved

-2-

1. Overview of Financial Results

Trends in Quarterly Business Results

(Unit:

Sales/cutting (semiconductor)

Sales/cutting (FPD)

Sales/cutting (other)

Fiscal Year

million yen)

Other sales

Gross profit

Operating profit

Ending

August 2022

2,000

Ordinary profit

Profit

1,800

63

370

14

1,600

386

1,400

1,444

1,200

58

1,299

277

76

175

17

244

251

1,000

111

198

276

164

1,050

977

263

904

893

788

800

871

111

884

102

831

771

766

600

707

595

648

592

400

422

200

0

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Point

FY2019

FY2020

FY2021

FY2022

1. Record sales for semiconductors, and favorable sales for FPD

Other sectors: 63 million yen (257.2% YoY increase)

Semiconductor sector: 1,444 million yen (61.6% YoY increase)

  • Favorable semiconductor market environment and a new record high in this quarter

FPD sector: 370 million yen (125.2% YoY increase)

• Sales recovery due to improved market and share expansion

  • Started sales of solar cell production equipment components

2. Improved profits in line with increased sales

  • Decrease in provision for loss on orders received and inventory write- down
  • Profit: 422 million yen (206.5% YoY increase)

*This graph shows quarterly figures, but the numbers in the comments for each point are those for the fiscal year under review.

Marumae Co., Ltd. All Rights Reserved

-3-

1. Overview of Financial Results

B/S Analysis

B/S

Fiscal year ended

Fiscal year ending

1. Assets: 10,794 million yen (1,051 million yen increase from

Aug 2021

Aug 2022

Point

the end of the previous fiscal year)

(Unit: million yen)

End of Fiscal Year

End of Q1

• Trade receivables: 440 million yen increase

Current assets

4,813

5,542

• Machinery and equipment: 265 million yen increase

2. Liabilities: 4,224 million yen (808 million yen increase from

Cash & deposits

2,505

2,628

the end of the previous fiscal year)

• Long-term borrowings: 420 million yen increase

Trade receivables

• Advances received: 105 million yen increase

(Notes receivable - trade,

1,685

2,126

3. Net assets: 6,570 million yen (242 million yen increase from

accounts receivable - trade, and

the end of the previous fiscal year)

electronically recorded monetary

• Dividends paid: 179 million yen

claims - operating)

• Retained earnings: 243 million yen increase

Inventories

597

752

• Equity ratio: 64.9% → 60.9%

Non-current assets

4,929

5,251

(Unit:

Ending

Fiscal Year

million yen)

Buildings & land

2,358

2,356

Long-term borrowings

Aug 2022

3,000

Current portion of long-term borrowings

Machinery & equipment

2,273

2,538

484

2,500

379

Current liabilities

1,452

1,839

379

379

429

379

389

427

2,000

389

Interest-bearing liabilities

427

484

389

(short-term)*

Non-current liabilities

1,963

2,384

1,500

Long-term borrowings

1,923

2,343

2,262

2,167

2,343

1,000

2,072

2,028

1,978

1,970

1,873

1,923

1,775

Total liabilities

3,415

4,224

500

Total net assets

6,327

6,570

Total assets

9,742

10,794

0

Term-end

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

FY

FY2020

FY2021

FY

*Interest-bearing liabilities (short-term):Short-term borrowings + current portion of long-term borrowings

2019

2022

Marumae Co., Ltd. All Rights Reserved

-4-

2. Business Environment

Trends in the Monthly Balance of Orders Received

2,400

2,200

2,000

1,800

1,600

1,400

1,200

1,000

800

600

400

200

0

(Unit: million yen)

Fiscal Year Ending

Aug 2022

8

Semiconductor sector

FPD sector

Other sectors

43

776

67

620

67

26

34

533

8

27

527

27

499

478

512

531

55

499

6

4

4

88

5

4

49

23

225

324

1,626

5

8

294

322

291

6

8

41

205

1,486

7

251

262

205

189

176

195

1,399

275

273

283

991

979

1,095

1,122

1,209

599

624

607

599

581

579

590

639

589

654

696

697

753

462

498

511

Point

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

FY2020

FY2021

FY2022

  • Semiconductor sector: Due to favorable market conditions, increased orders from new and existing customers, resulting in continuous excess production capacity. Some orders placed ahead of schedule.
  • FPD sector: Strong orders for G6 OLED (Organic LEDs), limited time recovery for G10.5 LCDs, share expansion contributing to orders.
  • Other sectors: Restart of orders for solar cell production equipment.

*The Company's orders have varying lead times. When there are many orders with a long lead time, the order backlog tends to be high, and the reverse is true when there are many orders with a short lead time.

*Effective from the fiscal year ending August 31, 2022, the Company has applied the "Accounting Standard for Revenue Recognition," and the order backlog as of the end of the current month includes 8 million yen of materials supplied at cost.

Marumae Co., Ltd. All Rights Reserved

-5-

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Marumae Co. Ltd. published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 06:24:10 UTC.