OHARA INC. Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Six Months Ended April 30, 2023
[Japanese GAAP]
Company name: OHARA INC. | June 9, 2023 |
Stock exchange listing: Tokyo | |
Code number: 5218 | |
URL: https://www.ohara-inc.co.jp | |
Representative: Hirokazu Saito | President Chief Executive Officer |
Contact: Takashi Nakajima | Director Senior Managing Executive Officer |
Phone: +81-42-772-2101 |
Scheduled date of filing quarterly securities report: June 9, 2023
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended April 30, 2023 (November 1, 2022 to April 30, 2023)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
April 30, 2023 | 14,555 | 7.1 | 1,578 | 20.9 | 1,631 | 1.8 | 1,220 | 23.9 | ||
April 30, 2022 | 13,590 | 29.0 | 1,305 | 358.8 | 1,602 | 219.3 | 984 | 236.9 |
(Note) Comprehensive income: | Six months ended April 30, 2023: |
Six months ended April 30, 2022: |
¥ | 51 million | [ | (98.2) %] |
¥ | 2,833 million | [ | 53.6%] |
Basic earnings | Diluted earnings per | ||||
per share | share | ||||
Six months ended | Yen | Yen | |||
April 30, 2023 | 50.10 | - | |||
April 30, 2022 | 40.43 | - | |||
(2) Consolidated Financial Position | |||||
Total assets | Net assets | Capital adequacy ratio | |||
As of | Millions of yen | Millions of yen | % | ||
April 30, 2023 | 59,760 | 44,800 | 74.6 | ||
October 31, 2022 | 60,678 | 45,262 | 74.2 | ||
(Reference) Equity: As of | April 30, 2023: | ¥ | 44,577 million | ||
As of | October 31, 2022: | ¥ | 45,024 million |
2. Dividends
Annual dividends | ||||||||
1st | 2nd | 3rd | Year-end | Total | ||||
quarter-end | quarter-end | quarter-end | ||||||
Yen | Yen | Yen | Yen | Yen | ||||
Fiscal year ended October 31, 2022 | - | 0.00 | - | 20.00 | 20.00 | |||
Fiscal year ending October 31, 2023 | - | 0.00 | ||||||
Fiscal year ending October 31, 2023 | - | 20.00 | 20.00 | |||||
(Forecast) | ||||||||
(Note) Revision to the forecast for dividends | announced most | recently: | No |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending October 31, 2023(November 1, 2022 to October 31, 2023) (% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | ||||||
owners of parent | per share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Full year | 28,000 | (1.1) | 2,700 | (9.3) | 2,900 | (20.9) | 2,200 | 4.0 | 90.31 | |
(Note) Revision to the financial results forecast announced most recently: | Yes | |||||||||
* Notes: | ||||||||||
(1) Changes in significant subsidiaries during the six months ended April 30, 2023 | ||||||||||
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | |||||||||
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | No |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: Yes
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
April 30, 2023: | 25,450,000 | shares |
October 31, 2022: | 25,450,000 | shares |
2) Number of treasury shares at the end of the period: | ||
April 30, 2023: | 1,085,507 | shares |
October 31, 2022: | 1,098,607 | shares |
3) Average number of shares outstanding during the period: | ||
Six months ended April 30, 2023: | 24,354,143 | shares |
Six months ended April 30, 2022: | 24,351,396 | shares |
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Thousands of yen) | ||
As of October 31, 2022 | As of April 30, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 14,459,354 | 12,808,983 |
Notes and accounts receivable - trade | 7,023,184 | 7,587,130 |
Electronically recorded monetary claims - | 1,839,781 | 1,576,724 |
operating | ||
Securities | - | 99,962 |
Merchandise and finished goods | 2,965,614 | 3,218,160 |
Work in process | 5,920,000 | 6,669,478 |
Raw materials and supplies | 3,731,274 | 3,671,239 |
Other | 718,274 | 559,976 |
Allowance for doubtful accounts | (22,121) | (68,240) |
Total current assets | 36,635,363 | 36,123,414 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 14,917,008 | 14,601,992 |
Accumulated depreciation | (10,469,129) | (10,412,179) |
Buildings and structures, net | 4,447,878 | 4,189,812 |
Machinery, equipment and vehicles | 18,017,152 | 17,870,109 |
Accumulated depreciation | (15,761,450) | (15,617,631) |
Machinery, equipment and vehicles, net | 2,255,701 | 2,252,477 |
Tools, furniture and fixtures | 12,267,236 | 12,295,137 |
Accumulated depreciation | (3,333,072) | (3,344,804) |
Tools, furniture and fixtures, net | 8,934,164 | 8,950,332 |
Land | 342,904 | 327,821 |
Right of use assets | 439,320 | 399,242 |
Accumulated depreciation | (155,122) | (133,381) |
Right of use assets, net | 284,198 | 265,860 |
Construction in progress | 303,305 | 362,564 |
Total property, plant and equipment | 16,568,153 | 16,348,869 |
Intangible assets | 351,221 | 314,430 |
Investments and other assets | ||
Investment securities | 6,543,057 | 6,365,122 |
Retirement benefit asset | 254,004 | 265,448 |
Deferred tax assets | 244,514 | 249,675 |
Other | 82,157 | 93,308 |
Total investments and other assets | 7,123,734 | 6,973,555 |
Total non-current assets | 24,043,109 | 23,636,855 |
Total assets | 60,678,472 | 59,760,270 |
1
(Thousands of yen) | ||
As of October 31, 2022 | As of April 30, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 1,935,291 | 1,535,840 |
Electronically recorded obligations - operating | 625,484 | 764,677 |
Short-term borrowings | 3,192,520 | 3,527,950 |
Lease liabilities | 345,065 | 424,313 |
Income taxes payable | 594,845 | 434,372 |
Contract liabilities | 32,026 | 16,929 |
Provision for bonuses | 950,252 | 767,261 |
Provision for bonuses for directors (and other | 147,878 | 57,584 |
officers) | ||
Provision for loss on litigation | - | 21,700 |
Accounts payable - other | 1,144,965 | 1,119,489 |
Other | 526,468 | 499,640 |
Total current liabilities | 9,494,800 | 9,169,761 |
Non-current liabilities | ||
Long-term borrowings | 1,546,862 | 1,721,581 |
Lease liabilities | 879,093 | 651,160 |
Deferred tax liabilities | 1,463,052 | 1,416,977 |
Retirement benefit liability | 1,709,700 | 1,706,250 |
Provision for share awards for directors (and other | 99,393 | 88,993 |
officers) | ||
Asset retirement obligations | 85,850 | 86,417 |
Other | 137,630 | 118,274 |
Total non-current liabilities | 5,921,582 | 5,789,655 |
Total liabilities | 15,416,382 | 14,959,416 |
Net assets | ||
Shareholders' equity | ||
Share capital | 5,855,000 | 5,855,000 |
Capital surplus | 7,962,140 | 7,962,140 |
Retained earnings | 26,563,833 | 27,294,843 |
Treasury shares | (1,492,577) | (1,477,050) |
Total shareholders' equity | 38,888,396 | 39,634,933 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale | 1,988,971 | 1,997,453 |
securities | ||
Foreign currency translation adjustment | 5,156,468 | 3,875,845 |
Remeasurements of defined benefit plans | (1,009,356) | (930,406) |
Total accumulated other comprehensive income | 6,136,083 | 4,942,892 |
Non-controlling interests | 237,610 | 223,027 |
Total net assets | 45,262,090 | 44,800,853 |
Total liabilities and net assets | 60,678,472 | 59,760,270 |
2
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)
(Thousands of yen) | ||
For the six months | For the six months | |
ended April 30, 2022 | ended April 30, 2023 | |
Net sales | 13,590,712 | 14,555,677 |
Cost of sales | 9,364,253 | 9,647,459 |
Gross profit | 4,226,459 | 4,908,217 |
Selling, general and administrative expenses | 2,921,127 | 3,329,996 |
Operating profit | 1,305,332 | 1,578,221 |
Non-operating income | ||
Interest income | 16,896 | 42,381 |
Dividend income | 47,240 | 54,706 |
Foreign exchange gains | 140,241 | - |
Share of profit of entities accounted for using equity | 34,852 | - |
method | ||
Other | 79,115 | 72,827 |
Total non-operating income | 318,346 | 169,915 |
Non-operating expenses | ||
Interest expenses | 17,840 | 18,263 |
Foreign exchange losses | - | 67,468 |
Share of loss of entities accounted for using equity | - | 1,279 |
method | ||
Other | 3,694 | 29,546 |
Total non-operating expenses | 21,535 | 116,559 |
Ordinary profit | 1,602,143 | 1,631,578 |
Extraordinary income | ||
Gain on sale of investment securities | - | 73,001 |
Total extraordinary income | - | 73,001 |
Profit before income taxes | 1,602,143 | 1,704,580 |
Income taxes | 547,352 | 459,908 |
Profit | 1,054,790 | 1,244,672 |
Profit attributable to non-controlling interests | 70,165 | 24,474 |
Profit attributable to owners of parent | 984,625 | 1,220,197 |
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OHARA Inc. published this content on 09 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2023 06:17:07 UTC.
