MEC COMPANY LTD. 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.
May 23, 2023
To Whom It May Concern
Company Name: MEC COMPANY LTD.
Representative: CEO & President Kazuo MAEDA
(Securities Code: 4971, TSE Prime Market)
Contact: Corporate Communication Office
Head Aya MATSUSHITA
(TEL +81-(0)6-6401-8160)
Notice Concerning Transfer of Noncurrent Assets and Recording of Extraordinary
Income, Revision of Earnings Forecast for the FY12/2023
At our Board of Directors meeting held today, we resolved to transfer noncurrent assets held by our company. As a result, we expect to record extraordinary income in our consolidated financial results for the first and second quarters of the fiscal year ending in December 2023, and so we have revised our consolidated earnings forecast for the first and second quarters (year-to-date) of the fiscal year ending in December 2023 and our full-year consolidated earnings forecast.
1. Reason for the transfer
In order to effectively utilize management resources, we have reviewed our assets and decided to transfer the noncurrent assets listed below.
2. Details of the transferred assets
(1) | Name of asset | Land and buildings owned in Nishinomiya City, Hyogo Prefecture |
(formerly the Company's Nishinomiya Factory) | ||
(2) | Location | 2-1-19 Naruohama, Nishinomiya City, Hyogo Prefecture |
(3) | Land area | 4,064 m2 |
(4) | Building total floor area | 969.53 m2 |
(5) | Gain on transfer | 550 million yen |
(6) | Current state | Land and buildings |
- Gain of 550 million yen is estimated after deducting book value and expenses related to the transfer.
- The transfer price, book value, and other information will not be disclosed due to confidentiality with the transferee.
3. Outline of transferee
The transferee is a domestic corporation, but due to confidentiality with the transferee, disclosure will be withheld. There are no capital, personal, or business relationships to be stated between the Company and the transferee. Furthermore, the transferee does not constitute a related party of the Company.
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.
4. | Transfer schedule | |
Resolution by Board of Directors | May 23, 2023 | |
Date of sale and purchase agreement | May 31, 2023 (planned) | |
Date of delivery of property | May 31, 2023 (planned) | |
5. | Future outlook |
Gains of 550 million yen on the sale of these noncurrent assets are expected to be recorded as extraordinary
income in the consolidated financial statements for the first and second quarters of the fiscal year ending December 2023. Accordingly, we have revised the consolidated earnings forecast for the first and second quarters (year-to-date) of the fiscal year ending in December 2023 and the full-year consolidated earnings forecast announced on May 10, 2023 as follows.
6. Revisions to earnings forecasts
Revision to the consolidated earnings forecast for the first and second quarters (year-to-date) of the fiscal year ending in December 2023 (January 1, 2023 to June 30, 2023)
Profit for | |||||
Operating | Ordinary | quarter | Net income per | ||
Net sales | attributable to | share for | |||
income | income | ||||
owners of | quarter | ||||
parent | |||||
(Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
Previously announced | 6,000 | 450 | 500 | 300 | 15.85 |
forecast (A) | |||||
Forecast revised this time | 6,000 | 450 | 500 | 680 | 35.93 |
(B) | |||||
Difference (B-A) | - | - | - | 380 | |
Percentage change (%) | - | - | - | 126.7 | |
(Reference) Results for the | |||||
first and second quarter of the | |||||
previous term | 8,127 | 2,084 | 2,374 | 1,661 | 87.40 |
(Six months ended June 30, | |||||
2022) | |||||
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.
Revision to the full-year consolidated earnings forecast for the fiscal year ending in December 2023 (January
1, 2023 to December 31, 2023)
Profit | |||||
Net sales | Operating | Ordinary | attributable to | Net income per | |
income | income | owners of | share | ||
parent | |||||
(Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
Previously announced | 13,500 | 1,800 | 1,900 | 1,350 | 71.71 |
forecast (A) | |||||
Forecast revised this time | 13,500 | 1,800 | 1,900 | 1,730 | 91.89 |
(B) | |||||
Difference (B-A) | - | - | - | 380 | |
Percentage change (%) | - | - | - | 28.1 | |
(Reference) Results for the | |||||
previous term | 16,329 | 4,004 | 4,246 | 3,064 | 161.22 |
(Year ended December 31, | |||||
2022) | |||||
Note: The above forecasts were calculated based on the currently available information as of the date of this announcement and certain assumptions that management believes to be reasonable, and actual results may differ from these forecasts owing to various factors.
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MEC Co. Ltd. published this content on 23 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2023 06:09:02 UTC.
