PEGASUS CO., LTD. PEGASUS SEWING MACHINE MFG. CO., LTD.
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 Year Ended March 31, 2021
[Japanese GAAP]
May 14, 2021
Company name: PEGASUS SEWING MACHINE MFG. CO., LTD.
Stock exchange listing: Tokyo | |
Code number: 6262 | |
URL: https://www.pegasus.co.jp | |
Representative: Shigemi Mima | Representative Director |
Contact: Fumiyasu Sato | Executive Officer |
Phone: 06(6451)1351
Schedule:
Annual General Meeting of Shareholders: June 22, 2021
Commencing dividend payments: June 23, 2021
Filing annual securities report: June 23, 2021
Availability of supplementary briefing material on annual financial results: Yes
Annual financial results briefing session: Yes
(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 01, 2020 to March 31, 2021)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||
owners of parent | ||||||||||||
Fiscal year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||
March 31, 2021 | 12,422 | (17.0) | 516 | 3.5 | 681 | 40.8 | 707 | - | ||||
March 31, 2020 | 14,969 | (20.8) | 499 | (78.3) | 484 | (81.0) | (206) | - |
(Note) Comprehensive income: | Fiscal year ended March 31, 2021: |
Fiscal year ended March 31, 2020: |
¥ | 502 million | [ | -%] |
¥ | (622) million | [ | -%] |
Basic earnings per | Diluted earnings per | Rate of return on | Ordinary profit to | Operating profit to | |
share | share | equity | total assets ratio | net sales ratio | |
Fiscal year ended | Yen | Yen | % | % | % |
March 31, 2021 | 28.50 | - | 3.3 | 2.3 | 4.2 |
March 31, 2020 | (8.31) | - | (1.0) | 1.6 | 3.3 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2021: Fiscal year ended March 31, 2020:
(2) Consolidated Financial Position
- - million
- - million
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||
As of | Million yen | Million yen | % | Yen | |
March 31, 2021 | 29,846 | 22,061 | 71.6 | 861.77 | |
March 31, 2020 | 29,719 | 21,737 | 70.9 | 849.24 | |
(Reference) Capital: As of | March 31, 2021: | ¥ | 21,381 million | ||
As of | March 31, 2020: | ¥ | 21,070 million | ||
(3) Consolidated Cash Flows | |||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||
equivalents at the end | |||||
operating activities | investing activities | financing activities | |||
of period | |||||
Fiscal year ended | Million yen | Million yen | Million yen | Million yen | |
March 31, 2021 | 2,257 | 643 | (145) | 8,313 | |
March 31, 2020 | 602 | (1,627) | 576 | 5,648 |
PEGASUS SEWING MACHINE MFG. CO., LTD.
2. Dividends
Annual dividends | Payout | Dividends | ||||||||
Total | to net | |||||||||
ratio | ||||||||||
1st | 2nd | 3rd | Year-end | Total | dividends | assets | ||||
(consolidated) | ||||||||||
quarter-end | quarter-end | quarter-end | (consolidated) | |||||||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | Million yen | % | % | ||
March 31, 2020 | - | 13.00 | - | 7.00 | 20.00 | 496 | - | 2.3 | ||
March 31, 2021 | - | 0.00 | - | 7.00 | 7.00 | 173 | 24.6 | 0.8 | ||
Fiscal year ending | ||||||||||
March 31, 2022 | - | 7.00 | - | 7.00 | 14.00 | 62.0 | ||||
(Forecast) |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 01, 2021 to March 31, 2022)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings per | ||||||
owners of parent | share | |||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
9,300 | 78.1 | 610 | - | 580 | 686.7 | 370 | - | 14.91 | ||
September 30, 2021 | ||||||||||
Full year | 17,510 | 41.0 | 1,050 | 103.5 | 980 | 43.9 | 560 | (20.8) | 22.57 |
* Notes: | |||
(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in | |||
scope of consolidation): | No | ||
New | - | (Company name: | ) |
Exclusion: | - | (Company name: | ) |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: No
- 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):
March 31, 2021: | 24,828,600 | shares |
March 31, 2020: | 24,828,600 | shares |
2) Total number of treasury shares at the end of the period: | ||
March 31, 2021: | 17,976 | shares |
March 31, 2020: | 17,944 | shares |
3) Average number of shares during the period: | ||
Fiscal Year ended March 31, 2021: | 24,810,654 | shares |
Fiscal Year ended March 31, 2020: | 24,810,656 | shares |
PEGASUS SEWING MACHINE MFG. CO., LTD.
(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 01, 2020 to March 31, 2021) | |||||||||||
(1) Non-consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||
Net sales | Operating profit | Ordinary profit | Net income | ||||||||
Fiscal year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
March 31, 2021 | 4,984 | (21.6) | (778) | - | (349) | - | (180) | - | |||
March 31, 2020 | 6,359 | (32.3) | (21) | - | 164 | (86.7) | (98) | - | |||
Basic earnings per share | Diluted earnings per share | ||||||||||
Fiscal year ended | Yen | Yen | |||||||||
March 31, 2021 | (7.27) | - | |||||||||
March 31, 2020 | (3.95) | - | |||||||||
(2) Non-consolidated Financial Position | |||||||||||
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||||||||
As of | Million yen | Million yen | % | Yen | |||||||
March 31, 2021 | 19,910 | 13,673 | 68.7 | 551.12 | |||||||
March 31, 2020 | 20,006 | 14,037 | 70.2 | 565.78 | |||||||
(Reference) Capital: As of | March 31, 2021: | ¥ | 13,673 million | ||||||||
As of | March 31, 2020: | ¥ | 14,037 million |
(Note) 1 Quarterly summary of financial statements is not subject to the quarterly reviews by a certified public accountant or an audit corporation.
2 Forward-looking statements
Statements contained in this summary regarding the Company's plans, strategies, and expectations for future performance, which are based on information available to the Company at the time of writing.
They are therefore subject to a number of uncertainties and unknowable factors, and actual results may thus differ substantially from those projected.
For the suppositions that form the assumptions for earnings forecasts and cautions concerning the use thereof, please refer to "Outlook for the next fiscal year" on page 3 of the attached material.
Schedule of the briefing: Thursday, May 27, 2021, will be live-streamed online.
(for institutional investors and analysts)
The presentation material (Japanese) will be announced on Company's website on Tuesday, May 25, 2021.
PEGASUS SEWING MACHINE MFG. CO., LTD. | |||
◯ Table of contents | |||
1. | Overview of results of operations ----------------------------------------------------------------------------------------- | 2 | |
(1) | Operating results ----------------------------------------------------------------------------------------------------- | 2 | |
(2) | Reference: Cash flow indicators ----------------------------------------------------------------------------------- | 2 | |
(3) | Outlook for the next fiscal year ------------------------------------------------------------------------------------ | 3 | |
2. | Basic policy concerning selection of accounting standards ----------------------------------------------------------- | 4 | |
3. | Consolidated Financial Statements --------------------------------------------------------------------------------------- | 5 | |
(1) | Consolidated Balance Sheets --------------------------------------------------------------------------------------- | 5 | |
(2) | Consolidated Statements of Income and Comprehensive Income --------------------------------------------- | 7 | |
(3) | Consolidated Statements of Changes in Net Assets ------------------------------------------------------------- | 9 | |
(4) | Consolidated Statements of Cash Flows -------------------------------------------------------------------------- | 11 | |
(5) | Notes to the consolidated financial statements ------------------------------------------------------------------- | 13 |
(Notes concerning the going-concern assumption) --------------------------------------------------------------- | 13 |
(Changes in accounting policies) ------------------------------------------------------------------------------------ | 13 |
(Business segment information) ------------------------------------------------------------------------------------- | 13 |
(Per share information) ----------------------------------------------------------------------------------------------- | 15 |
(Material subsequent events) ---------------------------------------------------------------------------------------- | 15 |
― 1 ―
PEGASUS SEWING MACHINE MFG. CO., LTD.
1. Overview of results of operations
(1) Operating results
The global economy in the current consolidated fiscal year became significantly worse due to the effects of restrictions on economic activities caused by the spread of COVID-19. On the other hand, production activities in China have resumed quickly and capital investment is showing signs of picking up. However the outlook remains uncertain with the re-expansion of new COVID-19 worldwide and the increased risk of a downturn in the economy.
In our main business, industrial sewing machine, the spread of the COVID-19 has forced our customers, apparel garment companies, to reduce production and shut down factories all over the world. But since mid-2020, production activity has recovered, especially in China and other Asian regions. With regard to die casting business, the recovery in production in the automobile industry exceeded expectation due to the recovery in demand.
Under these circumstances, net sales for the current consolidated fiscal year were 12,422 million yen (down by 17.0% year-on-year). In terms of profits, operating profit was 516 million yen (up by 3.5% year-on-year) and ordinary profit was 681 million yen (up by 40.8% year-on-year) due to the improvement in the profit margin of the die casting business. Profit attributable to owners of parent was 707 million yen (compared to a net loss attributable to owners of parent of 206 million yen in the same period of the previous year).
Business overviews by segment (Industrial sewing machine)
With regard to industrial sewing machines, China, where the spread of COVID-19 has begun to settle down, has resumed business activities in advance. Subsequently countries in Southeast Asia and Western have also taken steps to recover their economic activities. However the demand for capital investment has not recovered to the level of capital investment before COVID-19, and net sales were 9,622 million yen (down by 21.5% year-on-year), segment profit was 1,399 million yen (down by 13.8% year-on-year).
(Die casting auto parts)
Automobile production is on a recovery trend, and we continued to focus on sales activities aimed at expanding sales channels. And net sales were 2,799 million yen (up by 3.5% year-on-year) and segment profit was 133 million yen (segment loss of 1 million yen in the same period of the previous year) due to cost reductions and other factors.
(2) Reference: Cash flow indicators
As of March, | As of March, | As of March, | As of March, | As of March, | |
31, 2017 | 31, 2018 | 31, 2019 | 31, 2020 | 31, 2021 | |
Capital adequacy ratio | 72.3 | 76.6 | 74.8 | 70.9 | 71.6 |
Capital adequacy ratio based on market | 77.0 | 65.7 | 50.2 | 29.5 | 38.1 |
prices | |||||
Interest-bearing debt to cash flow ratio | 177.4 | 100.4 | 178.5 | 820.4 | 225.0 |
Interest coverage ratio | 34.1 | 40.2 | 32.4 | 8.7 | 34.7 |
Capital adequacy ratio: Capital divided by Total assets
Capital adequacy ratio based on market prices: Market capitalization divided by total assets
Interest-bearing debt to cash flow ratio: Interest-bearing debt divided by operating cash flows
Interest coverage ratio: Operating cash flows divided by Interest payments
(Note) 1 All of the above indicators are calculated based on consolidated financial figures.
- Market capitalization is calculated by multiplying the closing share price at the end of the period by the number of shares outstanding at the end of the period, excluding treasury shares.
- Operating cash flows are calculated using the figures for operating cash flows in the consolidated statement of cash flows. Interest-bearing debt includes all liabilities on the consolidated balance sheet that incur interest. Interest payments are calculated using the figures for interest expenses paid in the consolidated statement of cash flows.
― 2 ―
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Pegasus Sewing Machine Mfg. Co. Ltd. published this content on 25 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2021 06:02:03 UTC.
