Sanyo Special Steel Co., Ltd.
Financial Report for
The Year Ended March 31, 2023
Sanyo Special Steel Co., Ltd. and Consolidated Subsidiaries
CONSOLIDATED BALANCE SHEETS
As of March 31, 2022 and 2023
Thousands of U.S. | ||||||||
Millions of yen | dollars (Note 3) | |||||||
ASSETS | ||||||||
2022 | 2023 | 2023 | ||||||
Current Assets: | ||||||||
Cash and bank deposits (Notes 6 and 22) | ¥ | 14,483 | ¥ | 21,653 | $ | 162,144 | ||
Notes and accounts receivable - trade, and contract assets (Notes 6, 10, 11 and 27) | 69,019 | 66,372 | 497,022 | |||||
Electronically recorded monetary claims (Note 6) | 8,707 | 11,637 | 87,139 | |||||
Less: Allowance for doubtful accounts | (356) | (449) | (3,365) | |||||
Inventories (Notes 8 and 10) | 113,512 | 128,229 | 960,227 | |||||
Income taxes receivable | 18 | 45 | 335 | |||||
Deposits paid in parent company (Notes 6, 22 and 27) | 7,924 | 9,954 | 74,539 | |||||
Other | 7,196 | 4,258 | 31,894 | |||||
Total current assets | 220,503 | 241,699 | 1,809,935 | |||||
Property, Plant and Equipment: | ||||||||
Land (Note 10) | 13,259 | 13,496 | 101,064 | |||||
Buildings and structures (Note 10) | 75,042 | 74,816 | 560,248 | |||||
M achinery and equipment (Note 10) | 286,723 | 284,450 | 2,130,072 | |||||
Construction in progress | 3,408 | 9,026 | 67,588 | |||||
Other (Note 10) | 14,953 | 15,651 | 117,207 | |||||
393,385 | 397,439 | 2,976,179 | ||||||
Less: Accumulated depreciation | (281,410) | (282,256) | (2,113,642) | |||||
Total property, plant and equipment | 111,975 | 115,183 | 862,537 | |||||
Intangible Assets: | ||||||||
Goodwill | 33,284 | 32,441 | 242,933 | |||||
Other | 4,102 | 3,677 | 27,532 | |||||
Total intangible assets | 37,386 | 36,118 | 270,465 | |||||
Investments and Other Assets: | ||||||||
Investments in securities (Notes 6, 7 and 9) | 4,996 | 5,003 | 37,468 | |||||
Long-term loans receivable | 2 | 3 | 23 | |||||
Deferred tax assets (Note 14) | 2,055 | 1,489 | 11,153 | |||||
Net defined benefit assets (Note 13) | 300 | 997 | 7,464 | |||||
Other | 902 | 935 | 7,003 | |||||
Less: Allowance for doubtful accounts | (208) | (209) | (1,566) | |||||
Total investments and other assets | 8,047 | 8,218 | 61,545 | |||||
Total assets | ¥ | 377,911 | ¥ | 401,218 | $ | 3,004,482 | ||
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Thousands of U.S. | |
Millions of yen | dollars (Note 3) |
LIABILITIES AND NET ASSETS | 2022 | 2023 | 2023 | |||||
Current Liabilities: | ||||||||
Short-term loans (Notes 6, 10 and 12) | ¥ | 34,367 | ¥ | 35,481 | $ | 265,699 | ||
Current portion of long-term loans (Notes 6, 10 and 12) | 3,306 | 8,251 | 61,788 | |||||
Commercial paper (Note 6 and 12) | 12,001 | 30,999 | 232,133 | |||||
Notes and accounts payable - trade | 49,426 | 39,544 | 296,118 | |||||
Accounts payable - other | 10,262 | 11,120 | 83,272 | |||||
Accrued income taxes | 5,475 | 4,654 | 34,852 | |||||
Accrued expenses | 12,685 | 11,823 | 88,533 | |||||
Provision for environmental measures | 4 | 4 | 29 | |||||
Other (Notes 11 and 12) | 2,711 | 5,516 | 41,304 | |||||
Total current liabilities | 130,237 | 147,392 | 1,103,728 | |||||
Long-term Liabilities: | ||||||||
Bonds payable (Notes 6 and 12) | 10,000 | 10,000 | 74,884 | |||||
Long-term loans (Notes 6, 10 and 12) | 19,324 | 11,571 | 86,645 | |||||
Accrued directors' and corporate auditors' retirement benefits | 68 | 56 | 417 | |||||
Deferred tax liabilities (Note 14) | 4,743 | 5,279 | 39,533 | |||||
Provision for loss on guarantees | 1 | 1 | 8 | |||||
Provision for environmental measures | 207 | 133 | 997 | |||||
Net defined benefit liabilities (Note 13) | 12,165 | 8,752 | 65,535 | |||||
Other (Note 12) | 2,321 | 2,010 | 15,059 | |||||
Total long-term liabilities | 48,829 | 37,802 | 283,078 | |||||
Total liabilities | 179,066 | 185,194 | 1,386,806 | |||||
Contingent Liabilities (Note 25) | ||||||||
Net Assets (Note 15) | ||||||||
Shareholders' Equity: | ||||||||
Common stock: | ||||||||
Authorized 94,878,400 shares in 2022 and 2023 | ||||||||
Issued 54,507,307 shares in 2022 and 2023 | ¥ | 53,800 | ¥ | 53,800 | $ | 402,877 | ||
Capital surplus | 51,486 | 51,503 | 385,676 | |||||
Retained earnings | 85,733 | 101,028 | 756,533 | |||||
Less: Treasury stock, at cost (19,566 shares in 2022 and 21,557 shares in 2023) | (28) | (32) | (242) | |||||
Total shareholders' equity | 190,991 | 206,299 | 1,544,844 | |||||
Accumulated Other Comprehensive Income: | ||||||||
Valuation difference on available-for-sale securities | 1,383 | 1,894 | 14,180 | |||||
Deferred gains (losses) on hedges | 2,134 | (1,101) | (8,238) | |||||
Foreign currency translation adjustments | 4,120 | 5,626 | 42,127 | |||||
Remeasurements of defined benefit plans | (1,634) | 1,657 | 12,405 | |||||
Total accumulated other comprehensive income | 6,003 | 8,076 | 60,474 | |||||
Non-controlling Interests | 1,851 | 1,649 | 12,358 | |||||
Total net assets | 198,845 | 216,024 | 1,617,676 | |||||
Total liabilities and net assets | ¥ | 377,911 | ¥ | 401,218 | $ | 3,004,482 | ||
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Sanyo Special Steel Co., Ltd. and Consolidated Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
For the years ended March 31, 2022 and 2023
Thousands of U.S. | |||||||||
Millions of yen | dollars (Note 3) | ||||||||
2022 | 2023 | 2023 | |||||||
Net Sales (Note 28) | ¥ | 363,278 | ¥ | 393,844 | $ | 2,949,257 | |||
Cost of Sales (Notes 8 and 16) | 303,394 | 326,790 | 2,447,132 | ||||||
Gross profit | 59,884 | 67,054 | 502,125 | ||||||
Selling, General and Administrative Expenses (Notes 16 and 17) | |||||||||
38,467 | 38,562 | 288,766 | |||||||
Operating income | 21,417 | 28,492 | 213,359 | ||||||
Other Income: | |||||||||
Interest and dividends | 263 | 478 | 3,579 | ||||||
Rent income | 442 | 347 | 2,598 | ||||||
Exchange gains | 164 | 494 | 3,701 | ||||||
Other | 243 | 287 | 2,146 | ||||||
1,112 | 1,606 | 12,024 | |||||||
Other Expenses: | |||||||||
Interest | (615) | (960) | (7,191) | ||||||
Other | (250) | (282) | (2,104) | ||||||
(865) | (1,242) | (9,295) | |||||||
Ordinary income | 21,664 | 28,856 | 216,088 | ||||||
Extraordinary Gains and Losses: | |||||||||
Gain on sale of property, plant and equipment (Note 18) | 43 | 250 | 1,873 | ||||||
Gain on sale of investment in securities (Note 7) | 92 | 15 | 116 | ||||||
Loss on sale and disposition of property, plant and equipment (Note 19) | (193) | (651) | (4,878) | ||||||
Loss on liquidation of subsidiaries (Note 20) | (414) | (425) | (3,185) | ||||||
Loss on evaluation of investments in securities (Note 7) | (219) | - | - | ||||||
(691) | (811) | (6,074) | |||||||
Income before income taxes | 20,973 | 28,045 | 210,014 | ||||||
Income Taxes: (Note 14) | |||||||||
Current | 5,252 | 6,529 | 48,888 | ||||||
Deferred | 224 | 711 | 5,330 | ||||||
5,476 | 7,240 | 54,218 | |||||||
Net income | 15,497 | 20,805 | 155,796 | ||||||
Net Income Attributable to Non-controlling Interests | |||||||||
230 | 62 | 462 | |||||||
Net Income Attributable to Owners of the Parent | ¥ | 15,267 | ¥ | 20,743 | $ | 155,334 | |||
Yen | U.S. dollars (Note 3) | ||||||||
2022 | 2023 | 2023 | |||||||
Per Share: | |||||||||
Net income (Note 21) | ¥ | 280.19 | ¥ | 380.70 | $ | 2.85 | |||
Cash dividends | 90.00 | 100.00 | 0.75 | ||||||
Net assets | 3,615.39 | 3,934.50 | 29.46 | ||||||
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Sanyo Special Steel Co., Ltd. and Consolidated Subsidiaries
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the years ended March 31, 2022 and 2023
Thousands of U.S. | ||||||||
Millions of yen | dollars (Note 3) | |||||||
2022 | 2023 | 2023 | ||||||
Net Income | ¥ | 15,497 | ¥ | 20,805 | $ | 155,796 | ||
Other Comprehensive Income (Loss): | ||||||||
Valuation difference on available-for-sale securities | (278) | 511 | 3,825 | |||||
Deferred gains (losses) on hedges | 1,249 | (3,235) | (24,222) | |||||
Foreign currency translation adjustments | 4,828 | 1,591 | 11,917 | |||||
Remeasurements of defined benefit plans | 56 | 3,291 | 24,641 | |||||
Share of other comprehensive income of affiliates accounted for by the equity method | 69 | - | - | |||||
Total other comprehensive income (Note 4) | 5,924 | 2,158 | 16,161 | |||||
Comprehensive Income | 21,421 | 22,963 | 171,957 | |||||
Comprehensive income attributable to: | ||||||||
Owners of the parent | 21,064 | 22,766 | 170,481 | |||||
Non-controlling interests | 357 | 197 | 1,476 |
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Sanyo Special Steel Co. Ltd. published this content on 01 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2023 00:55:03 UTC.