NPC INCORPORATED July 13, 2021
Summary of Financial Results for the Third Quarter of Fiscal Year Ending August 31, 2021
(All financial information has been prepared in accordance with the Generally Accepted Accounting Principles in Japan)
Company name: | NPC Incorporated | Listing: Mothers of TSE |
Stock code: | 6255 | URL: https://www.npcgroup.net/eng/ |
Representative: | Masafumi Ito, President & CEO | |
Contact: | IR Group | |
Tel: +81-(0)3-6240-1206 |
Filing date of securities report: | July 15, 2021 |
Payment date of cash dividends: | - |
Supplementary materials prepared for quarterly financial results: | None |
Financial results meeting for institutional investors and | None |
securities analysts: | (All amounts are rounded down to the nearest million yen) |
1. Consolidated Financial Results for the Nine Months Ended May 31, 2021 (September 1, 2020 through May 31, 2021)
(1) Consolidated results of operations | (Percentages represent year-on-year changes) | |||||||||||
Net income | ||||||||||||
Sales | Operating income | Ordinary income | attributable to | |||||||||
owners of the parent | ||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
9 months ended May 31, 2021 | 4,569 | 20.0 | 822 | 122.7 | 801 | 118.0 | 576 | 63.2 | ||||
9 months ended May 31, 2020 | 3,806 | 14.1 | 369 | 24.6 | 367 | 34.7 | 353 | 31.4 | ||||
Earnings per share | Diluted earnings per share | |||||||||||
Yen | Yen | |||||||||||
9 months ended May 31, 2021 | 26.31 | - | ||||||||||
9 months ended May 31, 2020 | 16.08 | - | ||||||||||
(2) Consolidated financial position | ||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||
Million yen | Million yen | % | ||||||||||
As of May 31, 2021 | 9,096 | 7,547 | 83.0 | |||||||||
As of August 31, 2020 | 10,104 | 7,044 | 69.7 |
[Reference] Shareholders' equity (million yen): May 31, 2021: 7,547August 31, 2020: 7,044
2. Dividends
Dividend per share | ||||||
1Q-end | 2Q-end | 3Q-end | Year-end | Annual | ||
Yen | Yen | Yen | Yen | Yen | ||
Year ended August 31, 2020 | - | 0.00 | - | 3.50 | 3.50 | |
Year ending August 31, 2021 | - | 0.00 | - | |||
Year ending August 31, 2021 (forecast) | 2.00 | 2.00 | ||||
[Notes] Revision of dividend forecast for FY2021 from the latest disclosure: None
3. Consolidated Forecast for the Fiscal Year Ending August 31, 2021 (September 1, 2020 through August 31, 2021)
(Percentages represent year-on-year changes)
Net income | Earnings | |||||||||
Sales | Operating income | Ordinary income | attributable to owners | |||||||
per share | ||||||||||
of the parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
Full year of FY2021 | 5,539 | (30.2) | 515 | (41.4) | 492 | (44.3) | 328 | (56.1) | 15.01 | |
[Note] Revision of consolidated forecast for FY2021 from the latest disclosure: None | ||||||||||
The numbers parenthesized represent minus figures. | ||||||||||
4. Others | ||||||||||
(1) Changes in significant subsidiaries during the period: | None |
- Adoption of simplified accounting methods and special accounting methods: None
- Changes in accounting principles, procedures and presentation methods
1) | Changes in accounting policies arising from revision of accounting standards: | None |
2) | Other changes: | None |
3) | Changes in accounting estimates: | None |
4) | Restatement: | None |
- Number of shares outstanding (common shares)
- Number of shares outstanding (including treasury stock) at the end of the period
May 31, 2021: | 22,052,426 shares | |
August 31, 2020: | 22,052,426 shares | |
2) | Number of treasury stock at the end of the period | |
May 31, 2021: | 135,348 shares | |
August 31, 2020: | 95,284 shares | |
3) | Average number of shares during the period |
Nine months ended May 31, 2021: 21,912,829 shares
Nine months ended May 31, 2020: 21,965,773 shares
*This quarterly financial report is exempt from the quarterly review by certified public accountants or auditing firms.
*Appropriate use of the forecast of financial results and other matters:
Forward-looking statements in this report such as financial results forecasts are based on the information available to NPC Incorporated ("the Company") at the time when this report is prepared and the assumption that the forecasts are reasonable. The actual results may significantly differ from the forecast due to various factors. Please refer to the 1. (2) Explanation of consolidated forecasts and other forward-looking statements on page 2 for conditions of assumptions for the forecast and notes concerning on appropriate use of the forecast.
NPC Incorporated (6255) Financial Results for the Third Quarter of the Fiscal Year Ending August 31, 2021
Table of Contents of Attached Materials
1. | Qualitative Information Concerning Financial Results for the Third Quarter Ended May 31, 2021................... | 2 | |
(1) | Explanation of results of operations .......................................................................................................................... | 2 | |
(2) | Explanation of consolidated forecast and other forward-looking statements............................................................ | 2 | |
2. | Consolidated Financial Statements for the Third Quarter Ended May 31, 2021 ................................................... | 3 | |
(1) | Consolidated balance sheets...................................................................................................................................... | 3 | |
(2) | Consolidated statement of income ............................................................................................................................ | 5 | |
3. | Other Information ........................................................................................................................................................ | 6 | |
(1) | Production, Orders, and Sales ................................................................................................................................... | 6 | |
1) | Production............................................................................................................................................................... | 6 | |
2) | Orders ..................................................................................................................................................................... | 6 | |
3) | Sales........................................................................................................................................................................ | 6 |
1
NPC Incorporated (6255) Financial Results for the Third Quarter of the Fiscal Year Ending August 31, 2021
1. Qualitative Information Concerning Financial Results for the Third Quarter Ended May 31, 2021
(1) Explanation of results of operations
During the nine months ended May 31, 2021, the Japanese economy continued to face a severe environment with weak consumer spending and employment situation despite the signs of recovery in capital expenditures and corporate earnings seen in the manufacturing industry. As for the global economy, COVID-19 continued to make it difficult to predict the future outlook.
Concerning the Machinery Business of NPC Group ("the Group"), the US photovoltaic (PV) industry, the main market of the Business, is growing steadily with support from policies of Biden administration and active engagement for renewable energy by states and companies. PV system installation for 2021 is forecasted to surpass the record of 2020. As for automation machines for other industries, capital expenditures are recovering in Japan in strong sectors such as the electronic parts industry.
As for the PV industry in Japan, to which the Environmental Business of the Group belongs, the Japanese government enhanced its target of greenhouse gas emissions reduction, and PV energy attracts attention for purposes such as in-house electricity generation because the time required for PV installation is shorter than other renewables. Also, there are growing needs in Japan and overseas for establishing an appropriate recycling method and processing structure for PV panels since a considerable volume of discarded PV panels is expected in the future. The needs for panel disassembly equipment are expected to grow especially in Europe as the volume of discarded PV panels has been already increasing in the area.
Under such circumstances, the consolidated net sales of the 3rd quarter were 4,569 million yen, 763 million yen increase year on year, which was mostly as forecasted. Operating income was 822 million yen, 453 million yen increase year on year, and ordinary income was 801 million yen, 433 million yen increase year on year. Net income attributable to owners of the parent was 576 million yen, 223 million yen increase year on year, which surpassed the forecast. This is due to the improvement in profit margin as well as selling, general and administrative expenses which were lower than the forecast.
The financial results by business segment are as follows: 1) Machinery Business
In the Machinery Business, the Group implemented upgrading, expansion, and installation work of the equipment for the manufacturing lines of a US PV manufacturer. It also booked the sales of automation machines mainly to the Japanese electronic parts industry. As a result, the sales were 4,322 million yen, 906 million yen increase year on year, which was mostly as scheduled. While the sales were achieved mostly in accordance with the forecast, profit margin improved due to cost reduction, and the operating income was 1,206 million yen, 571 million yen increase year on year.
2) Environmental Business
In the Environmental Business, the Group booked the sales of inspection service of PV power plants as scheduled. It also booked the sales of used PV panels, recycling of end-of-life PV panels, PV panel disassembly equipment and plant factory business. As a result, the sales were 246 million yen, 143 million yen decrease year on year, and operating income was 45 million yen, 92 million yen decrease year on year.
(2) Explanation of consolidated forecast and other forward-looking statements
The results of operations for the nine months ended May 31, 2021 turned out to be higher than the forecast. However, the business forecasts for the full year are the same as the forecasts in the "Announcement on the Differences between Business Forecasts and Results for the First Half and Revision of Business Forecasts Both for FY2021" released on April 13, 2021 because the fourth quarter is forecasted to be inactive.
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NPC Incorporated (6255) Financial Results for the Third Quarter of the Fiscal Year Ending August 31, 2021
2. Consolidated Financial Statements for the Third Quarter Ended May 31, 2021
(September 1, 2020 through May 31, 2021)
(1) Consolidated balance sheets
(Thousand yen) | |||
As of August 31, 2020 | As of May 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 2,052,788 | 3,513,667 | |
Notes and accounts receivable-trade | 2,245,993 | 1,070,193 | |
Electronically recorded monetary claims-operating | 116,937 | 7,238 | |
Work in progress | 1,501,274 | 500,846 | |
Raw materials and supplies | 16,111 | 6,283 | |
Other | 247,996 | 119,119 | |
Total current assets | 6,181,102 | 5,217,348 | |
Noncurrent assets | |||
Property, plant and equipment | |||
Buildings and structures | 3,835,381 | 3,858,861 | |
Accumulated depreciation | (1,719,629) | (1,839,774) | |
Accumulated impairment loss | (8,073) | (8,073) | |
Building and structures, net | 2,107,679 | 2,011,014 | |
Machinery and equipment | 666,165 | 582,006 | |
Accumulated depreciation | (150,499) | (152,636) | |
Accumulated impairment loss | (456,940) | (376,294) | |
Machinery and equipment, net | |||
58,726 | 53,075 | ||
Land | |||
1,548,050 | 1,548,050 | ||
Lease assets | 763,520 | - | |
Accumulated depreciation | (527,377) | - | |
Accumulated impairment loss | (236,142) | - | |
Lease assets, net | - | - | |
Other | |||
299,520 | 309,525 | ||
Accumulated depreciation | (254,868) | (230,096) | |
Accumulated impairment loss | (4,514) | (4,514) | |
Other, net | |||
40,137 | 74,915 | ||
Construction in progress | |||
- | 3,210 | ||
Total property, plant and equipment | |||
3,754,592 | 3,690,265 | ||
Intangible assets | |||
Other | 37,116 | 45,679 | |
Total intangible assets | |||
37,116 | 45,679 | ||
Investments and other assets | |||
Deferred tax assets | 83,865 | 82,553 | |
Other | 47,929 | 60,308 | |
Total investments and other assets | 131,795 | 142,862 | |
Total noncurrent assets | |||
3,923,504 | 3,878,807 | ||
Total assets | 10,104,606 | 9,096,155 | |
[Note] The numbers parenthesized represent minus figures.
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NPC Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 06:06:03 UTC.
