July 27, 2022

Consolidated Financial Results

For the 1st Quarter Ended June 30, 2022

Company name: PACIFIC INDUSTRIAL CO., LTD.

Stock exchange listings: Tokyo and Nagoya Stock Exchanges

Stock code number: 7250

URL: https://www.pacific-ind.co.jp/

Representative: Shinya Ogawa, President

Contact person: Satoshi Watanabe, General Manager of Accounting Dept.

Telephone: +81-584-93-0117

(Amounts less than one million yen are omitted)

1. Consolidated Financial Results for FY 2022 1st Quarter (From April 1, 2022 to June 30, 2022)

(1) Consolidated Financial Results

(%:changes from the same period of the previous fiscal year)

Net Sales

Operating Income

Ordinary Income

Profit attribute to

owners of parent

Million Yen

%

Million Yen

%

Million Yen

%

Million Yen

%

FY2022 1st quarter

44,468

7.1

1,662

-50.6

3,864

-0.8

2,909

0.7

FY2021 1st quarter

41,530

74.2

3,362

－

3,896

－

2,888

－

Note: Comprehensive income

FY2022 1st quarter: 8,937 million yen (

51.9%),

FY2021 1st quarter: 5,883 million yen (

－%)

Earnings Per Share

Fully Diluted Earnings

Per Share

Yen

Yen

FY2022 1st quarter

48.18

48.08

FY2021 1st quarter

47.72

47.60

(2) Consolidated Financial Position

Net assets excluding

Total Assets

Net Aseets

subscription rights to shares

and Non-controlling interests

as a percentage of total assets

Million Yen

Million Yen

%

FY2022 1st quarter

252,950

137,275

53.9

FY2021

245,439

130,382

52.8

Note: Shareholders' equity:

FY2022 1st quarter: 136,372 million yen

FY2021: 129,534 million yen

2. Cash Dividends

Annual Cash Dividends Per Share

1st quarter

2nd quarter

3rd quarter

4th quarter

FY Total

Yen

Yen

Yen

Yen

Yen

FY2021

―

16.00

―

25.00

41.00

FY2022

―

FY2022(Forecast)

20.00

―

22.00

42.00

Note: Revisions to the forecasts announced most recently: None

3. Forecasts of Consolidated Financial Results for FY 2022 (From April 1, 2022 to March 31, 2023)

(%:changes from the same period of the previous fiscal year)

Net Sales

Operating Income

Ordinary Income

Profit attribute to

Earning Per Share

owners of parent

Million Yen

%

Million Yen

%

Million Yen

%

Million Yen

%

Yen

FY2022 First half

89,000

13.5

3,500

-30.3

5,300

-8.6

3,800

-13.3

63.25

FY2022

178,000

8.2

10,500

-2.4

13,500

-7.6

9,500

-3.1

158.68

Note: Revisions to the forecasts announced most recently: Yes

4. Notes

(1) Changes in major subsidiaries during the current quarter: None

(changes in specified subsidiaries that caused a change in the scope of consolidation)

Newly included:

―

(company name)

Newly excluded:

―

(company name)

  1. Application of special accounting methods for the preparation of quarterly consolidated financial statements : None
  2. Changes in accounting policies, accounting estimates and restatement
  • Changes in accounting policies with revision of accounting standards : None
    ② Changes other than ① : None
    ③ Changes in accounting estimates : None
    ④ Restatement : None

(3) Number of shares issued and outstanding (common stock)

① Number of shares outstanding at end

FY2022

61,312,896 shares

FY 2021

61,312,896 shares

of period(including treasury stock)

1st quarter

②Number of shares of treasury stock at

FY2022

1,234,755 shares

FY 2021

732,655 shares

end of period

1st quarter

③Average number of common stock

FY2022

60,383,916 shares

FY2021

60,527,866 shares

(quarterly total)

1st quarter

1st quarter

* Note on status of quarterly review procedures

This summary of quarterly financial results is not subject to quarterly review procedures under the Financial Instruments and Exchange Act. As of the time of disclosure of this summary of quarterly financial results, however, the review procedures for quarterly consolidated financial statements under the Financial Instruments and Exchange Act have not been completed.

  • Explanation about appropriate use of the financial results forecasts, and other noteworthy matters Statements related to the future, including the forecasts of financial results, described in this document are based on information currently available to Pacific industrial and on certain assumptions deemed by Pacific industrial to be rational.

Consolidated Balance Sheets

(Million Yen)

FY2021

FY2022

FY2021

FY2022

(As of Mar.31, 2022)

(As of Jun.30, 2022)

(As of Mar.31, 2022)

(As of Jun.30, 2022)

（Assets）

（Liabilities）

Current Assets

82,351

84,411

Current Liabilities

44,910

45,963

Cash and time deposits

27,014

25,975

Trade notes and accounts payable

13,189

13,164

Trade notes and accounts receivable

29,999

31,154

Electronically recorded obligations - operating

8,095

7,945

Merchandise and finished goods

7,834

9,268

Short-term borrowings

1,015

1,015

Work in process

6,209

6,714

Current portion of long-term borrowings

5,986

6,144

Raw materials and supplies

6,429

6,879

Accounts payable

4,387

6,029

Other current assets

5,023

4,604

Income taxes payable

3,234

1,423

Less: Allowance for doubtful accounts

(159)

(184)

Allowance for bonuses

1,671

964

Other current liabilities

7,329

9,275

Fixed Assets

163,087

168,538

Property, Plant and Equipment

104,348

109,325

Noncurrent Liabilities

70,146

69,711

Buildings and structures

30,218

31,829

Machinery and vehicles

47,797

49,121

Long-term borrowings

55,099

54,813

Tools, Furniture, and fixtures

2,140

2,216

Provision for directors retirement benefit

160

157

Land

10,456

10,623

Net defined benefit liabilities

610

628

Lease Asset

1,036

1,011

Other noncurrent liabilities

14,276

14,111

Construction in progress

12,699

14,522

Total Liabilities

115,056

115,675

Intangible Fixed Assets

12,063

12,633

Goodwill

6,751

7,026

Other

5,312

5,607

（Net assets）

Shareholders' Equity

102,265

103,132

Investments and Other Assets

46,675

46,579

Capital stock

7,316

7,316

Investments in securities

38,473

38,132

Capital surplus

7,683

7,683

Other fixed assets

8,209

8,457

Retained earnings

87,470

88,853

Less: Allowance for doubtful accounts

(8)

(9)

Less:Treasury stock at cost

(205)

(722)

Valuation and Translation Adjustment

27,268

33,240

Valuation difference on available securities

18,284

17,512

Foreign currency translation adjustments

7,602

14,299

Remeasurement of defined benefit plan

1,381

1,427

Subscription rights to shares

97

97

Minority Interests

751

805

Total Net Assets

130,382

137,275

Total Assets

245,439

252,950

Total Liabilities and Net Assets

245,439

252,950

Consolidated Statements of Income

(Million Yen)

FY2021

FY2022

For the First Quarter

For the First Quarter

Jun.30, 2021

Jun.30, 2022

Net sales

41,530

44,468

Cost of sales

34,959

39,437

Gross profit

6,571

5,030

Selling, general and administrative expenses

3,209

3,368

Operating Income (loss)

3,362

1,662

Non-operating income

734

2,293

Interest income

34

12

Dividend income

317

335

Equity in earnings of affiliated companies

315

274

Foreign exchange gain

－

1,323

Other non-operating income

66

347

Non-operating Expenses

199

90

Interest expense

120

74

Foreign exchange losses

62

－

Other non-operating expense

16

16

Ordinary income (loss)

3,896

3,864

Extraordinary Losses

71

54

Loss on sales and retirements of fixed assets

71

54

Profit (loss) before income taxes and non controlling interests

3,824

3,810

Income taxes

925

880

Current term net profit (loss)

2,898

2,929

Profit (loss) attributable to non-controlling interests

9

20

Profit (loss) attributable to owners of parent

2,888

2,909

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Disclaimer

Pacific Industrial Co. Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 07:41:05 UTC.