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.

July 28, 2023

[Summary] Consolidated Financial Results

for the Three Months Ended June 30, 2023

[Japanese GAAP]

Company name:

TOENEC CORPORATION

Stock exchange listing:

Tokyo, Nagoya

Code number:

1946

URL:

https://www.toenec.co.jp/english/

Representative:

Yuzo Fujita, President and Director Chief Executive Officer

Contact:

Toshihiko Ogura, Executive Officer General Manager Finance & Accounting Division

Phone:

+81-52-219-1916

Scheduled date of filing quarterly securities report:

August 7, 2023

Scheduled date of commencing dividend payments:

-

Availability of supplementary briefing material on quarterly financial results: No

Schedule of quarterly financial results briefing session:

No

(Amounts of less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2023 (April 1, 2023 to June 30, 2023)

(1) Consolidated operating results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

June 30, 2023

58,026

10.9

2,937

17.0

2,849

26.2

1,719

24.9

June 30, 2022

52,301

5.6

2,510

(4.6)

2,257

(3.6)

1,376

(7.3)

(Note) Comprehensive income:

Three months ended June 30, 2023:

¥3,179 million

[106.1%]

Three months ended June 30, 2022:

¥1,542 million

[(21.2)%]

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

June 30, 2023

91.98

-

June 30, 2022

73.67

-

(2) Consolidated financial position

Total assets

Net assets

As of

Million yen

Million yen

June 30, 2023

296,215

119,437

March 31, 2023

300,172

117,193

(Reference) Equity:

As of June 30, 2023:

¥119,397 million

As of March 31, 2023:

¥117,159 million

Capital adequacy ratio

%

40.3

39.0

Net assets per share

Yen

6,386.95

6,267.16

2. Dividends

Annual dividends

1st quarter-end

2nd quarter-end

3rd quarter-end

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

45.00

-

50.00

95.00

March 31, 2023

Fiscal year ending

-

March 31, 2024

Fiscal year ending

March 31, 2024

60.00

-

70.00

130.00

(Forecast)

(Note) Revision to the forecast for dividends announced most recently: No

3. Consolidated financial results forecast for the fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

owners of parent

per share

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Six months ending

120,000

11.5

6,800

42.6

6,400

55.3

4,400

-

235.37

September 30, 2023

Full year

245,000

5.6

13,000

26.4

12,000

33.6

8,000

-

427.94

(Note) Revision to the financial results forecast announced most recently: No

* Notes:

  1. Changes in significant subsidiaries during the three months ended June 30, 2023 (changes in specified subsidiaries resulting in changes in scope of consolidation): No
  2. Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes
  3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: No
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  5. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

June 30, 2023

19,329,990 shares

March 31, 2023

19,329,990 shares

2)

Total number of treasury shares at the end of the period:

June 30, 2023

635,974 shares

March 31, 2023

635,825 shares

3)

Average number of shares during the period:

Three months ended June 30, 2023

18,694,104 shares

Three months ended June 30, 2022

18,689,201 shares

  • Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters
    The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual business and other results may differ substantially due to various factors.

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

(Million yen)

As of March 31, 2023

As of June 30, 2023

Assets

Current assets

Cash and deposits

30,101

30,791

Deposits paid

1,700

1,700

Notes receivable, accounts receivable from

79,887

73,612

completed construction contracts and other

Costs on construction contracts in progress

6,787

7,390

Raw materials and supplies

3,505

3,329

Merchandise

117

115

Other

3,673

4,439

Allowance for doubtful accounts

(138)

(118)

Total current assets

125,633

121,260

Non-current assets

Property, plant and equipment

Buildings and structures

58,171

58,138

Machinery, vehicles, tools, furniture and fixtures

116,256

116,903

Land

31,897

31,897

Construction in progress

401

1,057

Accumulated depreciation

(74,796)

(76,804)

Total property, plant and equipment

131,931

131,192

Intangible assets

Goodwill

940

861

Other

3,121

3,056

Total intangible assets

4,061

3,918

Investments and other assets

Investment securities

28,405

30,098

Deferred tax assets

6,871

6,318

Other

6,662

6,824

Allowance for doubtful accounts

(3,393)

(3,397)

Total investments and other assets

38,546

39,844

Total non-current assets

174,538

174,955

Total assets

300,172

296,215

(Million yen)

As of March 31, 2023

As of June 30, 2023

Liabilities

Current liabilities

Notes payable, accounts payable for construction

45,485

40,460

contracts and other

Short-term borrowings

9,082

9,082

Accrued expenses

7,100

5,019

Income taxes payable

1,111

1,096

Advances received on construction contracts in

3,719

5,425

progress

Provision for loss on construction contracts

292

148

Provision for loss on cancellation of leases

967

-

Other

10,178

12,330

Total current liabilities

77,937

73,562

Non-current liabilities

Bonds payable

8,400

8,400

Long-term borrowings

22,381

22,110

Lease liabilities

49,483

48,184

Retirement benefit liability

19,594

19,343

Asset retirement obligations

4,686

4,690

Other

495

486

Total non-current liabilities

105,041

103,215

Total liabilities

182,978

176,778

Net assets

Shareholders' equity

Share capital

7,680

7,680

Capital surplus

6,848

6,848

Retained earnings

97,310

98,094

Treasury shares

(1,537)

(1,537)

Total shareholders' equity

110,302

111,086

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

7,548

8,806

Foreign currency translation adjustment

388

536

Remeasurements of defined benefit plans

(1,079)

(1,032)

Total accumulated other comprehensive income

6,857

8,311

Non-controlling interests

34

39

Total net assets

117,193

119,437

Total liabilities and net assets

300,172

296,215

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Toenec Corporation published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 06:06:27 UTC.