THE KINKI SHARYO CO., LTD.

AND CONSOLIDATED SUBSIDIARY

CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT

Years Ended March 31, 2023 and 2022

THE KINKI SHARYO CO., LTD. AND CONSOLIDATED SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

March 31, 2023 and 2022

Millions of yen

ASSETS

2023

2022

LIABILITIES AND NET ASSETS

Current Assets

Current Liabilities

Cash and time deposits (Notes 6 and 7)

7,635

9,941

Short-term loans payable (Notes 7, 9 and 11)

Receivables

Current portion of long-term loans payable (Notes 7 and 11)

Notes and accounts - trade, and contract assets (Notes 7, 15 and 20)

14,097

18,330

Lease obligations (Notes 7 and 11)

Other accounts

29

479

Allowance for doubtful receivables (Note 7)

(26)

(22)

Payables

14,100

18,787

Trade accounts (Note 7)

Construction

Contract liabilities (Note 20)

Income and enterprise taxes payable

Inventories

Accrued expenses

Provision for bonuses

Work-in-process (Note 10)

13,582

14,934

Allowance for losses on contracts (Note 10)

Raw materials and supplies

525

525

Provision for product warranties

14,107

15,459

Other current liabilities

Total current liabilities

Other current assets

1,563

800

Noncurrent Liabilities

Total current assets

37,405

44,987

Long-term loans payable (Notes 7 and 11)

Lease obligations (Notes 7 and 11)

Deferred income tax liabilities (Note 13)

Property, Plant and Equipment

Net defined benefit liability (Note 12)

Other noncurrent liabilities (Note 9)

Land (Notes 9 and 18)

2,582

2,582

Buildings and structures (Notes 9 and 18)

15,239

14,898

Total liabilities

Machinery and equipment

14,015

13,499

Leased assets

1,433

85

Net Assets (Note 14)

Right-of-use assets

529

-

Construction in progress

91

19

Shareholders' equity

33,889

31,083

Common stock

Accumulated depreciation

(21,631)

(20,191)

Authorized - 12,000,000 shares

12,258

10,892

Issued - 6,908,359 shares

Capital surplus

Retained earnings

Treasury stock, at cost

27,309 shares in March 2023

Investments and Other Assets

27,008 shares in March 2022

Total shareholders' equity

Stocks of subsidiaries and affiliates（Note 7）

36

36

Accumulated other comprehensive income

Investment securities（Notes 7 and 8）

5,368

5,130

Net unrealized holding gains on securities

Intangible assets

112

158

Foreign currency translation adjustments

Other assets

314

303

Remeasurements of defined benefit plans

Allowance for doubtful receivables

(4)

(9)

Total accumulated other comprehensive income

Total assets

5,826

5,618

Total net assets

55,489

61,497

Total liabilities and net assets

Millions of yen

20232022

4,700

15,700

-

3

67

12

5,537

9,326

680

573

3,314

1,610

157

32

918

993

378

378

1,163

2,595

638

578

1,915

954

19,467

32,754

3,000

-

1,331

6

736

675

2,798

2,881

863706

8,728 4,268

28,195 37,022

5,253

5,253

3,125

3,125

15,630

14,653

(106)

(105)

23,902

22,926

1,374

1,202

2,075

429

  1. (82)
    3,392 1,549

27,294

24,475

55,489

61,497

See accompanying Notes to Consolidated Financial Statements.

THE KINKI SHARYO CO., LTD. AND CONSOLIDATED SUBSIDIARY

CONSOLIDATED STATEMENTS OF INCOME

Years Ended March 31, 2023 and 2022

Millions of yen

2023

2022

Net sales (Notes 15, 20 and 21)

35,874

39,334

Cost of sales (Note 16)

31,245

34,130

Gross profit

4,629

5,204

Selling, general and administrative expenses

3,400

3,409

Operating profit

1,229

1,795

Other income (expenses)

Interest and dividend income

129

96

Interest expense

(52)

(104)

Foreign exchange gain

151

459

Commission fees

(35)

-

Gain on forgiveness of debt (Note 23)

-

611

Other, net

(138)

(67)

55

995

Income before income taxes

1,284

2,790

Income taxes (Note 13)

Current

(107)

(15)

Deferred

6

(9)

Net income

1,183

2,766

Net income attributable to non-controlling interests

―

―

Net income attributable to owners of the parent

1,183

2,766

Yen

Amounts per share (Note 22)

Net income

171.97

401.92

Cash dividends applicable to the year

50.00

30.00

See accompanying Notes to Consolidated Financial Statements.

THE KINKI SHARYO CO., LTD. AND CONSOLIDATED SUBSIDIARY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Years Ended March 31, 2023 and 2022

Millions of yen

2023

2022

Net income

1,183

2,766

Other comprehensive income

Net unrealized holding gains (losses) on securities

172

(194)

Net unrealized holding gains (losses) on derivatives

-

(4)

Foreign currency translation adjustments

1,646

848

Remeasurements of defined benefit plans

25

5

Total other comprehensive income (Note 5)

1,843

655

Comprehensive income

3,026

3,421

Comprehensive income attributable to

owners of the parent

3,026

3,421

Comprehensive income attributable to

non-controlling interests

-

-

See accompanying Notes to Consolidated Financial Statements.

THE KINKI SHARYO CO., LTD. AND CONSOLIDATED SUBSIDIARY

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

Years Ended March 31, 2023 and 2022

Balance at April 1, 2022

Cash dividends paid at ￥30.00 per share （Note 14）

Net income

Purchase of treasury stock

Net changes during the year

Balance at March 31, 2023

Balance at April 1, 2021

Cash dividends paid at ￥30.00 per share （Note 14）

Net income

Purchase of treasury stock

Change in scope of consolidation

Net changes during the year

Balance at March 31, 2022

Millions of yen

Shareholders' equity

Accumulated other comprehensive income

Net

Net

Foreign

Remeasure-

Number of

unrealized

unrealized

shares of

Common

Capital

Retained

Treasury

holding

currency

ments of

Total

holding

common

stock

surplus

earnings

stock

gains

translation

defined

gains

stock

on

adjustments

benefit plans

on securities

derivatives

6,908,359

5,253

3,125

14,653

(105)

1,202

-

429

(82)

24,475

-

-

-

(206)

-

-

-

-

-

(206)

-

-

-

1,183

-

-

-

-

-

1,183

-

-

-

-

(1)

-

-

-

-

(1)

-

-

-

-

-

172

-

1,646

25

1,843

6,908,359

5,253

3,125

15,630

(106)

1,374

-

2,075

(57)

27,294

Net

Net

Foreign

Remeasure-

Number of

unrealized

Common

unrealized

shares of

Capital

Retained

Treasury

holding

currency

ments of

Total

holding

common

stock

surplus

earnings

stock

gains

translation

defined

gains

stock

on

adjustments

benefit plans

on securities

derivatives

6,908,359

5,253

3,125

12,152

(105)

1,396

4

(419)

(87)

21,319

-

-

-

(206)

-

-

-

-

-

(206)

-

-

-

2,766

-

-

-

-

-

2,766

-

-

-

-

(0)

-

-

-

-

(0)

-

-

-

(59)

-

-

-

-

-

(59)

-

-

-

-

-

(194)

(4)

848

5

655

6,908,359

5,253

3,125

14,653

(105)

1,202

-

429

(82)

24,475

See accompanying Notes to Consolidated Financial Statements.

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The Kinki Sharyo Co. Ltd. published this content on 04 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 September 2023 05:41:07 UTC.