TATSUTA ELECTRIC WIRE AND CABLE CO., LTD. These documents have been translated from the Japanese originals for reference purposes only. In the event of any discrepancy between these translated documents and the Japanese originals, the originals shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
May 11, 2023 | |
Tatsuta Electric Wire | |
These documents are outside the scope of audit. | and Cable Co.,Ltd. |
FY2022 Financial Summary
1. Business Segment Information （vs. FY2021) | (Milions of yen) | |||||||||||||||||||
FY2021 | FY2022 | Amount of change | ||||||||||||||||||
Actual (① ) | Actual(②) | (②-① ) | ||||||||||||||||||
1Q | 2Q | 1st half | 3Ｑ | 4Ｑ | 2nd half | Full year | 1Q | 2Q | 1st half | 3Ｑ | 4Ｑ | 2nd half | Full year | 1st half | 2nd half | Full year | ||||
Electric Wire and Cable Business | 9,550 | 9,781 | 19,331 | 10,547 | 10,521 | 21,068 | 40,400 | 9,926 | 11,087 | 21,013 | 11,401 | 11,559 | 22,961 | 43,975 | ○1,682 | ○1,892 | ○3,574 | |||
Electronic Materials Business | 4,249 | 5,043 | 9,292 | 4,439 | 3,515 | 7,955 | 17,247 | 4,228 | 4,034 | 8,263 | 4,174 | 2,626 | 6,801 | 15,064 | × 1,029 | × 1,153 | × 2,182 | |||
Other Businesses | 485 | 509 | 994 | 555 | 693 | 1,248 | 2,243 | 582 | 562 | 1,144 | 611 | 706 | 1,318 | 2,463 | ○150 | ○69 | ○219 | |||
Adjustment (Note) | ▲ 7 | ▲ 7 | ▲ 15 | ▲ 7 | ▲ 7 | ▲ 14 | ▲ 29 | ▲ 6 | ▲ 7 | ▲ 13 | ▲ 6 | ▲ 7 | ▲ 13 | ▲ 27 | ○1 | ○0 | ○2 | |||
Net Sales | 14,276 | 15,327 | 29,604 | 15,535 | 14,722 | 30,257 | 59,861 | 14,732 | 15,677 | 30,409 | 16,182 | 14,884 | 31,067 | 61,476 | ○805 | ○809 | ○1,614 | |||
Electric Wire and Cable Business | 191 | 215 | 407 | 132 | 210 | 343 | 750 | ▲ 166 | 186 | 20 | 148 | 599 | 748 | 768 | × 387 | ○404 | ○17 | |||
Electronic Materials Business | 649 | 997 | 1,646 | 708 | 350 | 1,059 | 2,705 | 642 | 547 | 1,190 | 459 | ▲ 186 | 273 | 1,464 | × 455 | × 786 | × 1,241 | |||
Other Businesses | ▲ 10 | 17 | 6 | 33 | 99 | 133 | 139 | 45 | 1 | 46 | 36 | 78 | 114 | 161 | ○40 | × 18 | ○21 | |||
Adjustment (Note) | ▲ 181 | ▲ 173 | ▲ 355 | ▲ 174 | ▲ 180 | ▲ 355 | ▲ 710 | ▲ 194 | ▲ 170 | ▲ 365 | ▲ 180 | ▲ 147 | ▲ 327 | ▲ 692 | × 9 | ○27 | ○18 | |||
Operating Income | 648 | 1,056 | 1,704 | 701 | 480 | 1,181 | 2,885 | 327 | 564 | 892 | 464 | 345 | 809 | 1,701 | × 812 | × 371 | × 1,184 | |||
（Operating Profit Margin） | (4.5%) | (6.9%) | (5.8%) | (4.5%) | (3.3%) | (3.9%) | (4.8%) | (2.2%) | (3.6%) | (2.9%) | (2.9%) | (2.3%) | (2.6%) | (2.8%) | ||||||
Ordinary Income | 716 | 1,114 | 1,830 | 731 | 552 | 1,283 | 3,114 | 437 | 637 | 1,074 | 468 | 321 | 789 | 1,864 | × 756 | × 493 | × 1,250 | |||
（Ordinary Profit Margin） | (5.0%) | (7.3%) | (6.2%) | (4.7%) | (3.8%) | (4.2%) | (5.2%) | (3.0%) | (4.1%) | (3.5%) | (2.9%) | (2.2%) | (2.5%) | (3.0%) | ||||||
Net Income | 526 | 807 | 1,334 | 432 | 564 | 996 | 2,330 | 323 | 549 | 872 | 243 | ▲ 147 | 95 | 967 | × 462 | × 900 | × 1,362 | |||
２. Business Segment Information（vs. Previously announced forecast) (Milions of yen)
FY2022
Previously announced
forecast (④) *
1st half | 2nd half | Full year | 1st half | 2nd half | Full year | |||
Electric Wire and Cable Business | 21,013 | 23,086 | 44,100 | － | × 124 | × 124 | ||
Electronic Materials Business | 8,263 | 7,936 | 16,200 | － | × 1,135 | × 1,135 | ||
Other Businesses | 1,144 | 1,355 | 2,500 | － | × 36 | × 36 | ||
Adjustment (Note) | ▲ 13 | 13 | － | － | × 27 | × 27 | ||
Net Sales | 30,409 | 32,390 | 62,800 | － | × 1,323 | × 1,323 | ||
Electric Wire and Cable Business | 20 | 379 | 400 | － | ○368 | ○368 | ||
Electronic Materials Business | 1,190 | 809 | 2,000 | － | × 536 | × 536 | ||
Other Businesses | 46 | 153 | 200 | － | × 38 | × 38 | ||
Adjustment (Note) | ▲ 365 | ▲ 384 | ▲ 750 | － | ○57 | ○57 | ||
Operating Income | 892 | 957 | 1,850 | － | × 148 | × 148 | ||
（Operating Profit Margin） | (2.9%) | (3.0%) | (2.9%) | |||||
Ordinary Income | 1,074 | 975 | 2,050 | － | × 185 | × 185 | ||
（Ordinary Profit Margin） | (3.5%) | (3.0%) | (3.3%) | |||||
Net Income | 872 | 577 | 1,450 | － | × 482 | × 482 | ||
*Disclosed on Jan 31,2023 |
(Note)
The adjustment is inter-segment eliminations and corporate expenses,which consist of general and administrative expenses and research expenses not attributable to reportable segments.
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3．Consolidated Financial Statements
【Comparison of Consolidated Statements of Income】
(A) | (B) | (Millions of yen) | |||||
FY2021 | FY2022 | Amount of change | Percent change | ||||
(From April 1, 2021 to | (From April 1, 2022 to | ||||||
(B)-(A) | （(B)-(A))/(A） | ||||||
March 31, 2022) | March 31, 2023) | ||||||
Net sales | 59,861 | 100.0% | 61,476 | 100.0% | 1,614 | 2.7% | |
Cost of sales | 47,475 | 79.3% | 50,197 | 81.7% | 2,721 | 5.7% | |
Gross income | 12,386 | 20.7% | 11,279 | 18.3% | △1,107 | -8.9% | |
Selling, general and administrative expenses | 9,501 | 15.9% | 9,577 | 15.6% | 76 | 0.8% | |
Operating income | 2,885 | 4.8% | 1,701 | 2.8% | △1,184 | -41.0% | |
Non-operating income | |||||||
Interest income | 17 | 12 | △4 | ||||
Dividend income | 20 | 22 | 2 | ||||
Foreign exchange gains | 112 | 90 | △21 | ||||
Subsidy income | 31 | 6 | △24 | ||||
Other | 60 | 50 | △10 | ||||
Total non-operating income | 243 | 0.4% | 183 | 0.3% | △59 | -24.5% | |
Non-operating expenses | |||||||
Interest expenses | 6 | 8 | 2 | ||||
Loss on disaster | - | 5 | 5 | ||||
Other | 7 | 6 | △1 | ||||
Total non-operating expenses | 13 | 0.0% | 20 | 0.0% | 6 | 47.0% | |
Ordinary income | 3,114 | 5.2% | 1,864 | 3.0% | △1,250 | -40.1% | |
Extraordinary income | |||||||
Compensation for transfer | - | 101 | 101 | ||||
Gain on sale of investment securities | - | 6 | 6 | ||||
Gain on sale of non-current assets | 244 | 0 | △244 | ||||
Total extraordinary income | 244 | 0.4% | 108 | 0.2% | △136 | -55.6% | |
Extraordinary losses | |||||||
Loss on valuation of investment securities | - | 406 | 406 | ||||
Loss on sale of non-current assets | 4 | 0 | △4 | ||||
Loss on abandonment of non-current assets | 165 | 44 | △120 | ||||
TOB related expenses | - | 189 | 189 | ||||
Total extraordinary losses | 169 | 0.3% | 641 | 1.0% | 471 | 277.5% | |
Total extraordinary losses | 3,189 | 5.3% | 1,331 | 2.2% | △1,857 | -58.2% | |
Income taxes - current | 927 | 456 | △471 | ||||
Income taxes - deferred | △68 | △92 | △23 | ||||
Total income taxes | 858 | 1.4% | 363 | 0.6% | △494 | -57.6% | |
Income | 2,330 | 967 | △1,362 | ||||
Income attributable to owners of parent | 2,330 | 3.9% | 967 | 1.6% | △1,362 | -58.5% | |
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【Comparison of Quarterly Consolidated Balance Sheets】
(A) | (B) | （Millions of yen） | (A) | (B) | （Millions of yen） |
FY2021 | FY2022 | Amount of change | |||
(As of March 31, | (As of March 31, | ||||
(B)-(A) | |||||
2022) | 2023) | ||||
Assets | |||||
Current assets | |||||
Cash and deposits | 1,389 | 1,246 | △142 | ||
Notes and accounts receivable - trade | 19,419 | 20,973 | 1,553 | ||
Inventories | 11,954 | 12,328 | 374 | ||
Short-term loans receivable | 5,686 | 4,611 | △1,074 | ||
Other | 1,235 | 613 | △622 | ||
Allowance for doubtful accounts | △13 | △12 | 0 | ||
Total current assets | 39,671 | 67.6% | 39,761 | 68.0% | 89 |
Non-current assets | |||||
Property, plant and equipment | |||||
Buildings and structures, net | 8,305 | 8,508 | 203 | ||
Machinery, equipment and vehicles, net | 3,259 | 3,032 | △226 | ||
Tools, furniture and fixtures, net | 417 | 371 | △45 | ||
Land | 3,721 | 3,721 | - | ||
Construction in progress | 522 | 295 | △226 | ||
Total property, plant and equipment | 16,225 | 27.7% | 15,929 | 27.2% | △296 |
Intangible assets | |||||
Software | 146 | 136 | △9 | ||
Software in progress | 9 | 15 | 6 | ||
Right to use facilities | 5 | 4 | △1 | ||
Other | 4 | 1 | △2 | ||
Total intangible assets | 165 | 0.3% | 157 | 0.3% | △7 |
Investments and other assets | |||||
Investment securities | 1,082 | 1,067 | △14 | ||
Long-term prepaid expenses | 2 | 0 | △2 | ||
Deferred tax assets | 1,030 | 1,190 | 159 | ||
Other | 659 | 521 | △137 | ||
Allowance for doubtful accounts | △181 | △169 | 12 | ||
Total investments and other assets | 2,591 | 4.4% | 2,609 | 4.5% | 17 |
Total non-current assets | 18,982 | 32.4% | 18,696 | 32.0% | △285 |
Total assets | 58,654 | 100.0% | 58,457 | 100.0% | △196 |
FY2021 | FY2022 | Amount of change | |||
(As of March 31, | (As of March 31, | ||||
(B)-(A) | |||||
2022) | 2023) | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable - trade | 3,883 | 4,279 | 396 | ||
Accounts payable - other | 815 | 1,243 | 428 | ||
Accrued expenses | 1,518 | 1,381 | △137 | ||
Income taxes payable | 456 | 87 | △369 | ||
Other | 1,446 | 939 | △507 | ||
Total current liabilities | 8,121 | 13.8% | 7,931 | 13.6% | △189 |
Non-current liabilities | |||||
Long-term borrowings | 900 | 900 | - | ||
Retirement benefit liability | 1,302 | 1,572 | 270 | ||
Asset retirement obligations | 68 | 42 | △25 | ||
Deferred tax liabilities | 1 | 1 | 0 | ||
Other | 91 | 127 | 36 | ||
Total non-current liabilities | 2,363 | 4.0% | 2,644 | 4.5% | 281 |
Total liabilities | 10,484 | 17.9% | 10,575 | 18.1% | 91 |
Net assets | |||||
Shareholders' equity | |||||
Share capital | 6,676 | 6,676 | - | ||
Capital surplus | 4,516 | 4,516 | - | ||
Retained earnings | 38,936 | 38,792 | △144 | ||
Treasury shares | △2,458 | △2,459 | △0 | ||
Total shareholders' equity | 47,670 | 81.3% | 47,525 | 81.3% | △144 |
Accumulated other comprehensive income | |||||
Valuation difference on available-for-sale securities | 216 | 249 | 32 | ||
Deferred gains or losses on hedges | 232 | 131 | △101 | ||
Foreign currency translation adjustment | △63 | △55 | 7 | ||
Remeasurements of defined benefit plans | 113 | 31 | △82 | ||
Total accumulated other comprehensive income | 499 | 0.9% | 356 | 0.6% | △142 |
Total net assets | 48,169 | 82.1% | 47,882 | 81.9% | △287 |
Total liabilities and net assets | 58,654 | 100.0% | 58,457 | 100.0% | △196 |
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4．Capital expenditure, Depreciation, and other
（Millions of yen）
FY 2019 | FY 2020 | FY 2021 | FY 2022 | ||
Electric Wire and Cable Business | 729 | 926 | 982 | 934 | |
Electronic Materials Business | 1,141 | 479 | 1,401 | 644 | |
Other Business | 158 | 145 | 91 | 93 | |
Corporate | 98 | 396 | 115 | 30 | |
Capital expenditure | 2,128 | 1,947 | 2,590 | 1,702 | |
Electric Wire and Cable Business | 812 | 798 | 868 | 839 | |
Electronic Materials Business | 749 | 701 | 786 | 814 | |
Other Business | 95 | 101 | 141 | 164 | |
Corporate | 178 | 169 | 183 | 174 | |
Depreciation | 1,836 | 1,770 | 1,980 | 1,993 | |
R&D | |||||
R&D expenses | 1,517 | 1,560 | 1,350 | 1,306 | |
R&D expenses as a percentage of | 2.6% | 2.6% | 2.3% | 2.1% | |
net sales | |||||
5．Trends in the number of employees
FY2019 | FY2020 | FY2021 | FY2022 | ||
(As of March | (As of March | (As of March | (As of March | ||
31, 2020) | 31, 2021) | 31, 2022) | 31, 2023) | ||
Electric Wire and Cable Business | 560 | 578 | 580 | 587 | |
Electronic Materials Business | 201 | 221 | 241 | 257 | |
Other Business | 96 | 97 | 105 | 115 | |
Corporate | 79 | 81 | 85 | 87 | |
Number of employees | 936 | 977 | 1,011 | 1,046 | |
Note:
Figures indicate number of employees including those seconded from outside the group and excluding those seconded to outside the group. Part-time and temporary employees are also excluded.
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TATSUTA Electric Wire and Cable Co. Ltd. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 07:16:05 UTC.
