NIKKON HOLDINGS 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 Year Ended March 31, 2021
(Based on Japanese GAAP)
Company name: | NIKKON Holdings Co., Ltd. | ||
Stock exchange listing: | Tokyo | ||
Stock code: | 9072 | URL http://www.nikkon-hd.co.jp | |
Representative: | President & Representative Director | Masakatsu Kuroiwa | |
Inquiries: | Director, Managing Executive Officer, and | Yasunori Matsuda | |
General Manager of Accounting Department | |||
Scheduled date of ordinary general meeting of shareholders: | June 29, 2021 | ||
Scheduled date to file Securities Report: | June 30, 2021 | ||
Scheduled date to commence dividend payments: | June 8, 2021 | ||
Preparation of supplementary material on financial results: | No |
May 12, 2021
TEL 03-3541-5330
Holding of financial results meeting:
No
(A video of financial results briefings will be posted on the Company website.)
(Amounts less than one million yen are rounded down) | |||||||||
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021) | |||||||||
(1) Consolidated operating results | 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 | % | ||
Year ended March 31, 2021 | 182,536 | (8.5) | 18,191 | (12.9) | 20,572 | (8.7) | 14,544 | (13.0) | |
Year ended March 31, 2020 | 199,512 | 0.9 | 20,890 | 4.3 | 22,525 | 2.3 | 16,721 | 13.2 |
Note: Comprehensive income | Year ended March 31, 2021 | ¥19,667 million | [55.0%] | |||||
Year ended March 31, 2020 | ¥12,691 million | [7.5%] | ||||||
Earnings per share | Diluted earnings per | Profit attributable to | Ordinary profit/total | Operating profit/net | ||||
share | owners of | assets | sales | |||||
parent/equity | ||||||||
Yen | Yen | % | % | % | ||||
Year ended March 31, 2021 | 221.26 | 220.51 | 7.3 | 6.6 | 10.0 | |||
Year ended March 31, 2020 | 254.01 | 253.11 | 8.8 | 7.6 | 10.5 | |||
Reference: Investment profit (loss) on equity method | Year ended March 31, 2021 | ¥484 million | ||||||
Year ended March 31, 2020 | ¥472 million |
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | |||
Millions of yen | Millions of yen | % | Yen | |||
As of March 31, 2021 | 322,139 | 208,290 | 64.5 | 3,160.46 | ||
As of March 31, 2020 | 297,489 | 193,296 | 64.8 | 2,932.77 | ||
Reference: Equity | As of March 31, 2021 | ¥207,747 million | ||||
As of March 31, 2020 | ¥192,780 million | |||||
(3) Consolidated cash flows | ||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |||
operating activities | investing activities | financing activities | at end of period | |||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||
Year ended March 31, 2021 | 23,229 | (25,402) | 1,473 | 30,366 | ||
Year ended March 31, 2020 | 25,901 | (19,867) | (584) | 30,820 |
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2. Cash dividends
Annual dividends per share | Total cash | Dividend payout | Ratio of dividends | |||||
to net assets | ||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | dividends (Total) | ratio (Consolidated) | (Consolidated) | |
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Year ended March 31, 2020 | − | 38.00 | − | 38.00 | 76.00 | 4,995 | 29.9 | 2.6 |
Year ended March 31, 2021 | − | 33.00 | − | 34.00 | 67.00 | 4,404 | 30.3 | 2.1 |
Year ending March 31, 2022 | − | 34.00 | − | 35.00 | 69.00 | 30.2 | ||
(Forecast) | ||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | ||||||
owners of parent | ||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
96,000 | 12.1 | 9,800 | 39.3 | 10,500 | 32.8 | 7,100 | 36.7 | 108.01 | ||
September 30, 2021 | ||||||||||
Full year | 200,000 | 9.6 | 21,000 | 15.4 | 22,400 | 8.9 | 15,000 | 3.1 | 228.19 | |
4. Notes | ||||||||||
(1) Changes in significant subsidiaries during the year ended March 31, 2021 | No | |||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | ||||||||||
(2) 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 |
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021 | 68,239,892 | shares | As of March 31, 2020 | 68,239,892 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2021 | 2,506,469 | shares | As of March 31, 2020 | 2,506,382 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2021 | 65,733,467 | shares | Year ended March 31, 2020 | 65,830,837 | shares |
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Reference: Summary of non-consolidated financial results
Non-consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Non-consolidated operating results | Percentages indicate year-on-year changes | ||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit | ||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
Year ended March 31, 2021 | 12,197 | 10.8 | 10,601 | 9.8 | 10,864 | 9.1 | 10,693 | 3.6 | |||||||
Year ended March 31, 2020 | 11,010 | 5.7 | 9,655 | 6.9 | 9,958 | 5.4 | 10,323 | 13.7 | |||||||
Earnings per share | Diluted earnings per | ||||||||||||||
share | |||||||||||||||
Yen | Yen | ||||||||||||||
Year ended March 31, 2021 | 162.69 | 162.14 | |||||||||||||
Year ended March 31, 2020 | 156.81 | 156.26 | |||||||||||||
(2) Non-consolidated financial position | |||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||
As of March 31, 2021 | 209,301 | 120,947 | 57.6 | 1,835.10 | |||||||||||
As of March 31, 2020 | 192,340 | 111,625 | 57.9 | 1,693.28 | |||||||||||
Reference: Equity | As of March 31, 2021 | ¥120,627 million | |||||||||||||
As of March 31, 2020 | ¥111,305 million |
- Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
- Proper use of forecasts of financial results, and other special matters
(Caution regarding forward-looking statements)
Forward-looking statements, including financial results forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Actual financial and other results may differ substantially from the statements herein due to various factors.
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Index of attached documents | ||
1. Overview of operating results and others ........................................................................................................... | 5 | |
(1) | Overview of operating results for the period ............................................................................................... | 5 |
(2) | Overview of financial position for the period .............................................................................................. | 5 |
(3) | Overview of cash flows for the period......................................................................................................... | 6 |
(4) | Future outlook.............................................................................................................................................. | 6 |
(5) | Basic policy on distribution of profits, and dividends in period under review and subsequent period........ | 6 |
2. Basic philosophy for selecting accounting standards ......................................................................................... | 7 | |
3. Consolidated financial statements and significant notes thereto ........................................................................ | 8 | |
(1) | Consolidated balance sheets......................................................................................................................... | 8 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income .................... | 10 |
(Consolidated statements of income)...................................................................................................... | 10 | |
(Consolidated statements of comprehensive income)............................................................................ | 12 | |
(3) | Consolidated statements of changes in equity............................................................................................ | 13 |
(4) | Consolidated statements of cash flows ...................................................................................................... | 15 |
(5) | Notes on consolidated financial statements ............................................................................................... | 17 |
(Notes on going concern assumption)........................................................................................................ | 17 | |
(Segment information) ............................................................................................................................... | 17 | |
(Per share information) .............................................................................................................................. | 20 | |
(Subsequent events) ................................................................................................................................... | 20 |
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1. Overview of operating results and others
-
Overview of operating results for the period
In the fiscal year under review, the Japanese economy was under severe economic condition due to the extended novel coronavirus disease (COVID-19) pandemic. As economic activities started to resume in phases with the help of government sponsored measures, the economy seemed to be in a path of moderate recovery. However, the outlook remained uncertain as the government declares another state of emergency.
In the logistics industry, the severe business situation has continued due to chronic labor shortage and intensified competition, as well as the spread of COVID-19 in general.
As a result, consolidated sales were 182,536 million yen, down by 8.5% from the previous fiscal year due to decrease in the volume of cargo handled, impacted both inside Japan and overseas by COVID-19 pandemic.
Operating profit was 18,191 million yen, down by 12.9% from the previous fiscal year, despite the efforts to reduce costs and improve operational efficiencies.
Ordinary profit was 20,572 million yen, down by 8.7% from the previous fiscal year, as a result of a decrease of operating profit. Profit attributable to owners of parent was 14,544 million yen, down by 13.0% from the previous fiscal year. This is mainly due to decreases of gain on sales of non-current assets and gain on sales of investment securities, in addition to a decrease of ordinary profit.
Business results by segment are as follows. Transportation business
Sales were 84,553 million yen, down by 9.7% from the previous fiscal year, due to a decrease in the volume of cargo handled, impacted by COVID-19. Operating profit was 4,686 million yen down by 9.9% from the previous fiscal year, due to a decrease of sales, despite decreases of personnel, fuel and subcontract expenses.
Warehousing business
Despite some impacts by COVID-19, sales were 32,083 million yen, up 3.3% from the previous fiscal year. The increase is due to an increase in the volume of cargo stored, as a result of ongoing additions and expansions of the existing warehouses. Operating profit was 7,549 million yen, down by 2.6% from the previous year, mainly due to an increase of depreciation expense.
Packaging business
Sales were 40,136 million yen, down by 14.4% from the previous fiscal year, as a result of significant decrease in business volume impacted by COVID-19. Operating profit was 2,365 million yen, down by 36.2% from the previous fiscal year, due to a decrease of sales, despite decreases of personnel and subcontract expenses.
Testing business
Sales were 20,463 million yen, down by 7.9% from the previous fiscal year, as the business volume decreased due to COVID-19. Operating profit was 2,809 million yen, down by 29.8% from the previous fiscal year, as sales decreased, as well as depreciation expense increased because of the new research and development facility opened in April 2020. - Overview of financial position for the period
(Assets)
Current assets at the end of the fiscal year under review totaled 74,542 million yen, an increase of 1,077 million yen from the end of the previous fiscal year. The increase mainly came as notes and accounts receivable - trade rose 917 million yen. Non-current assets totaled 247,596 million yen, an increase of 23,572 million yen from the end of the previous fiscal year. The increase mainly came as property, plant and equipment rose 18,214 million yen (warehouse expansions in Ebetsu City, Hokkaido Prefecture, Osaki City, Miyagi Prefecture, Isezaki City, Gunma Prefecture, Nagahama City and Hino Town, Shiga Prefecture, and Setouchi City, Okayama Prefecture, an income property acquisition in Chuo Ward, Tokyo, and business site acquisitions in Utsunomiya City, Tochigi Prefecture, Isezaki City and Ota City in Gunma, Takaoka City in Toyama, and Ibaraki City Osaka), and investment securities rose 4,707 million yen due to an increase of the cross-shareholdings' market value.
As a result, total assets were 322,139 million yen, an increase of 24,650 million yen from the end of the previous fiscal year.
(Liabilities)
Current liabilities at the end of the fiscal year under review totaled 46,269 million yen, a decrease of 8,205 million yen from the end of the previous fiscal year. This mainly came as the current portion of bonds payable fell 10,000 million yen due to redemption of bonds, as well as notes payable - facilities and notes and accounts payable - trade fell 2,630 million yen and 1,466 million yen respectively as some of the subsidiary companies started to make payments through electronic notes. On the other hand, electronically recorded obligations - operating and electronically recorded obligations - non-operating rose 1,298 million yen and 5,427 million yen respectively. Non-current liabilities totaled 67,579 million yen, an increase of 17,860 million yen from the end of the previous fiscal year. This mainly came as the Company financed 20,000 million yen through issuing bonds to fund redemption of bonds and facilities.
As a result, total liabilities were 113,848 million yen, an increase of 9,655 million yen from the end of the previous fiscal year.
(Net assets)
Net assets at the end of the fiscal year under review were 208,290 million yen, an increase of 14,994 million yen from the end of the previous fiscal year. This mainly came as retained earnings and valuation difference on available-for-sale securities rose 9,877 million yen, and 3,347 million yen respectively.
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Nikkon Holdings Co. Ltd. published this content on 31 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2021 03:01:00 UTC.
