SEIKO PMC Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Three Months Ended March 31, 2023 (Based on Japanese GAAP)
May 12, 2023 | ||||
Company name: | SEIKO PMC CORPORATION | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 4963 | URL https://www.seikopmc.co.jp/ | ||
Representative: | Representative Director, President and CEO | Seido Kan | ||
Inquiries: | Exective Officer, Head of Administration | Hiroharu Kawano | TEL 03-6202-7331 | |
Division | ||||
Scheduled date to file Quarterly Securities Report: | May 12, 2023 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | Yes | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2023 (from January 1, 2023 to March 31, 2023)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Three months ended March 31, 2023 | 7,457 | (1.0) | 311 | (46.4) | 390 | (54.0) | 305 | (50.9) |
Three months ended March 31, 2022 | 7,530 | 0.2 | 581 | (39.7) | 849 | (19.5) | 621 | (11.2) |
Earnings per share | Diluted earnings per share | ||||||||
Yen | Yen | ||||||||
Three months ended March 31, 2023 | 10.07 | - | |||||||
Three months ended March 31, 2022 | 20.51 | - | |||||||
(2) Consolidated financial position | |||||||||
Total assets | Net assets | Equity ratio | |||||||
Millions of yen | Millions of yen | % | |||||||
As of March 31, 2023 | 45,461 | 31,391 | 68.3 | ||||||
As of December 31, 2022 | 46,557 | 31,108 | 66.1 | ||||||
2. Cash dividends | |||||||||
Annual dividends per share | |||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | ||||||
Yen | Yen | Yen | Yen | ||||||
Year ended December 31, 2022 | - | 8.00 | - | 8.00 | |||||
Year ending December 31, 2023 | - | ||||||||
Year ending December 31, 2023 (Forecast) | 8.00 | - | 8.00 |
Total
Yen 16.00
16.00
3. Forecast of consolidated financial results for the year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||||
owners of parent | |||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
Full year | 35,280 | 8.8 | 2,010 | 6.7 | 2,160 | (9.8) | 1,550 | (5.9) | 51.12 |
1
4. Notes
- Changes in significant subsidiaries during the three months ended March 31, 2023 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
No
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023 | 30,321,283 | shares | As of December 31, 2022 | 30,321,283 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2023 | 192 | shares | As of December 31, 2022 | 192 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended March 31, 2023 | 30,321,091 | shares | Three months ended March 31, 2022 | 30,321,214 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | ||
As of December 31, 2022 | As of March 31, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 3,827,471 | 4,340,002 |
Notes and accounts receivable - trade | 11,855,653 | 10,030,692 |
Electronically recorded monetary claims - operating | 2,000,835 | 1,644,954 |
Merchandise and finished goods | 3,283,138 | 3,471,758 |
Work in process | 506,939 | 536,425 |
Raw materials and supplies | 2,146,933 | 2,008,232 |
Short-term loans receivable | 995,979 | 790,681 |
Other | 835,559 | 1,080,381 |
Allowance for doubtful accounts | (7,829) | (5,791) |
Total current assets | 25,444,680 | 23,897,338 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 5,146,945 | 5,174,902 |
Machinery, equipment and vehicles, net | 4,719,028 | 4,679,197 |
Land | 7,070,738 | 7,112,928 |
Other, net | 1,292,233 | 1,597,443 |
Total property, plant and equipment | 18,228,945 | 18,564,471 |
Intangible assets | 50,500 | 53,410 |
Investments and other assets | ||
Investment securities | 929,539 | 969,337 |
Retirement benefit asset | 1,134,220 | 1,236,967 |
Other | 800,170 | 769,896 |
Allowance for doubtful accounts | (30,193) | (30,104) |
Total investments and other assets | 2,833,737 | 2,946,097 |
Total non-current assets | 21,113,182 | 21,563,979 |
Total assets | 46,557,863 | 45,461,317 |
3
(Thousands of yen) | ||
As of December 31, 2022 | As of March 31, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 5,875,497 | 4,755,975 |
Short-term borrowings | 5,572,068 | 5,064,337 |
Current portion of long-term borrowings | 85,975 | 87,368 |
Income taxes payable | 229,325 | 232,154 |
Provision for bonuses | 587,366 | 365,672 |
Other provisions | - | 7,350 |
Other | 1,996,138 | 2,530,281 |
Total current liabilities | 14,346,372 | 13,043,140 |
Non-current liabilities | ||
Long-term borrowings | 560,436 | 567,675 |
Provision for retirement benefits for directors (and other | 7,800 | - |
officers) | ||
Asset retirement obligations | 87,730 | 87,860 |
Other | 446,570 | 371,485 |
Total non-current liabilities | 1,102,537 | 1,027,021 |
Total liabilities | 15,448,909 | 14,070,162 |
Net assets | ||
Shareholders' equity | ||
Share capital | 2,000,000 | 2,000,000 |
Capital surplus | 1,149,697 | 1,149,697 |
Retained earnings | 26,331,123 | 26,393,899 |
Treasury shares | (115) | (115) |
Total shareholders' equity | 29,480,706 | 29,543,481 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 285,464 | 315,320 |
Deferred gains or losses on hedges | (6,506) | (401) |
Foreign currency translation adjustment | 1,169,530 | 1,341,856 |
Remeasurements of defined benefit plans | (150,226) | (142,332) |
Total accumulated other comprehensive income | 1,298,262 | 1,514,443 |
Non-controlling interests | 329,985 | 333,229 |
Total net assets | 31,108,954 | 31,391,154 |
Total liabilities and net assets | 46,557,863 | 45,461,317 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | ||
Three months ended | Three months ended | |
March 31, 2022 | March 31, 2023 | |
Net sales | 7,530,390 | 7,457,270 |
Cost of sales | 5,549,404 | 5,783,509 |
Gross profit | 1,980,986 | 1,673,760 |
Selling, general and administrative expenses | 1,399,933 | 1,362,489 |
Operating profit | 581,053 | 311,271 |
Non-operating income | ||
Interest income | 935 | 15,257 |
Dividend income | 3,423 | 3,423 |
Purchase discounts | 4,096 | 2,933 |
Subsidy income | 75,411 | 8,426 |
Foreign exchange gains | 158,119 | 35,971 |
Other | 29,575 | 20,180 |
Total non-operating income | 271,561 | 86,193 |
Non-operating expenses | ||
Interest expenses | 2,648 | 5,912 |
Other | 796 | 797 |
Total non-operating expenses | 3,444 | 6,710 |
Ordinary profit | 849,169 | 390,754 |
Extraordinary income | ||
Subsidy income | 18,650 | 44,048 |
Gain on sale of non-current assets | - | 899 |
Total extraordinary income | 18,650 | 44,948 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 0 | 582 |
Loss on tax purpose reduction entry of non-current assets | 18,650 | 44,048 |
Total extraordinary losses | 18,650 | 44,631 |
Profit before income taxes | 849,169 | 391,071 |
Income taxes - current | 242,583 | 123,847 |
Income taxes - deferred | (19,548) | (36,213) |
Total income taxes | 223,035 | 87,633 |
Profit | 626,134 | 303,437 |
Profit (loss) attributable to non-controlling interests | 4,262 | (1,906) |
Profit attributable to owners of parent | 621,871 | 305,344 |
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Seiko PMC Corporation published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 06:37:20 UTC.
