TOHO CO., LTD. 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.
Consolidated Financial Results
for the Six Months Ended July 31, 2020
[Japanese GAAP]
Company name: TOHO Co.,Ltd. | September 07, 2020 |
Stock exchange listing: Tokyo,Fukuoka | |
Code number: 8142 | |
URL: https://www.to-ho.co.jp | |
Representative: Hiroyuki Koga | Representative Director & President |
Contact: Toshiaki Sato | Executive Director |
Phone: 078-845-2431 |
Scheduled date of filing quarterly securities report: September 10, 2020
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No
(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Six Months Ended July 31, 2020 (February 01, 2020 to July 31, 2020)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||
July 31, 2020 | 87,703 | (21.6) | (2,890) | - | (2,347) | - | (2,698) | - | ||
July 31, 2019 | 111,819 | 6.3 | 465 | (24.0) | 532 | (15.7) | 190 | (64.4) |
(Note) Comprehensive income: | Six months ended July 31, 2020: |
Six months ended July 31, 2019: |
¥ | (3,445) million | [ | -%] |
¥ | 9 million | [ | (96.0) %] |
Basic earnings | Diluted earnings per | ||||
per share | share | ||||
Six months ended | Yen | Yen | |||
July 31, 2020 | (250.82) | - | |||
July 31, 2019 | 17.69 | - | |||
(2) Consolidated Financial Position | |||||
Total assets | Net assets | Capital adequacy ratio | |||
As of | Million yen | Million yen | % | ||
July 31, 2020 | 85,759 | 20,066 | 22.8 | ||
January 31, 2020 | 90,745 | 24,613 | 26.2 | ||
(Reference) Equity: As of | July 31, 2020: | ¥ | 19,532 million | ||
As of | January 31, 2020: | ¥ | 23,807 million |
2. Dividends
Annual dividends | |||||||
1st | 2nd | 3rd | Year-end | Total | |||
quarter-end | quarter-end | quarter-end | |||||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended January 31, 2020 | - | 25.00 | - | 25.00 | 50.00 | ||
Fiscal year ending January 31, 2021 | - | 0.00 | |||||
Fiscal year ending January 31, 2021 | - | - | - | ||||
(Forecast) | |||||||
(Note) Revision to the forecast for dividends | announced most | recently: | No |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2021(February 01, 2020 to January 31, 2021) (% 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 | |||||
Full year | - | - | - | - | - | - | - | - | - | ||||
(Note) Revision to the financial results forecast announced most recently: | No |
(Note) At this point, it is difficult to assess the impact of the coronavirus outbreak on our group and to reasonably make any business forecast. Accordingly, our forecast of consolidated results for the fiscal year ending January 31, 2021 is undetermined and will be announced as soon as the details become available.
- Notes:
- Changes in significant subsidiaries during the six months ended July 31, 2020
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | |||
New | - | (Company name: | ) | |
Exclusion: | - | (Company name: | ) | |
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | No |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: No
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
July 31, 2020: | 11,012,166 | shares |
January 31, 2020: | 11,012,166 | shares |
2) Total number of treasury shares at the end of the period: | ||
July 31, 2020: | 255,097 | shares |
January 31, 2020: | 254,968 | shares |
3) Average number of shares during the period: | ||
Six months ended July 31, 2020: | 10,757,125 | shares |
Six months ended July 31, 2019: | 10,757,290 | shares |
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Million yen) | ||||
As of January 31,2020 | As of July 31,2020 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 6,940 | 7,856 | ||
Notes and accounts receivable - trade | 18,761 | 15,270 | ||
Merchandise and finished goods | 12,181 | 11,305 | ||
Raw materials and supplies | 39 | 37 | ||
Other | 3,691 | 3,551 | ||
Allowance for doubtful accounts | (86) | (46) | ||
Total current assets | 41,529 | 37,975 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 10,316 | 9,587 | ||
Land | 15,649 | 15,649 | ||
Other, net | 3,991 | 3,737 | ||
Total property, plant and equipment | 29,957 | 28,974 | ||
Intangible assets | ||||
Goodwill | 7,072 | 7,063 | ||
Other | 1,119 | 1,015 | ||
Total intangible assets | 8,191 | 8,079 | ||
Investments and other assets | ||||
Investment securities | 2,426 | 1,768 | ||
Shares of subsidiaries and associates | 468 | 448 | ||
Leasehold deposits | 4,091 | 4,022 | ||
Retirement benefit asset | 3,108 | 3,185 | ||
Other | 1,127 | 1,478 | ||
Allowance for doubtful accounts | (155) | (172) | ||
Total investments and other assets | 11,066 | 10,731 | ||
Total non-current assets | 49,216 | 47,784 | ||
Total assets | 90,745 | 85,759 |
(Million yen) | ||||
As of January 31,2020 | As of July 31,2020 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 27,333 | 22,581 | ||
Short-term borrowings | 9,594 | 11,371 | ||
Income taxes payable | 795 | 280 | ||
Provision for bonuses | 489 | 480 | ||
Other provisions | 262 | 256 | ||
Asset retirement obligations | - | 19 | ||
Other | 3,499 | 3,728 | ||
Total current liabilities | 41,973 | 38,718 | ||
Non-current liabilities | ||||
Long-term borrowings | 20,291 | 23,908 | ||
Provisions | 6 | 9 | ||
Retirement benefit liability | 600 | 624 | ||
Asset retirement obligations | 778 | 790 | ||
Other | 2,481 | 1,640 | ||
Total non-current liabilities | 24,158 | 26,973 | ||
Total liabilities | 66,132 | 65,692 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 5,344 | 5,344 | ||
Capital surplus | 5,089 | 4,539 | ||
Retained earnings | 13,273 | 10,306 | ||
Treasury shares | (638) | (639) | ||
Total shareholders' equity | 23,068 | 19,551 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale | 568 | 246 | ||
securities | ||||
Deferred gains or losses on hedges | (1) | (0) | ||
Foreign currency translation adjustment | (185) | (566) | ||
Remeasurements of defined benefit plans | 357 | 301 | ||
Total accumulated other comprehensive income | 738 | (19) | ||
Non-controlling interests | 806 | 534 | ||
Total net assets | 24,613 | 20,066 | ||
Total liabilities and net assets | 90,745 | 85,759 |
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)
(Million yen) | |||
For the six months | For the six months | ||
ended July 31,2019 | ended July 31,2020 | ||
Net sales | 111,819 | 87,703 | |
Cost of sales | 90,660 | 70,454 | |
Gross profit | 21,159 | 17,248 | |
Selling, general and administrative expenses | 20,693 | 20,139 | |
Operating profit (loss) | 465 | (2,890) | |
Non-operating income | |||
Interest income | 2 | 4 | |
Dividend income | 27 | 21 | |
Share of profit of entities accounted for using equity | 14 | - | |
method | |||
Subsidies for employment adjustment | - | 411 | |
Other | 111 | 215 | |
Total non-operating income | 156 | 652 | |
Non-operating expenses | |||
Interest expenses | 54 | 56 | |
Share of loss of entities accounted for using equity | - | 12 | |
method | |||
Other financial expenses | 4 | 7 | |
Other | 30 | 34 | |
Total non-operating expenses | 89 | 110 | |
Ordinary profit (loss) | 532 | (2,347) | |
Extraordinary income | |||
Gain on sales of non-current assets | 3 | 6 | |
Gain on bargain purchase | 241 | - | |
Total extraordinary income | 244 | 6 | |
Extraordinary losses | |||
Loss on sales of non-current assets | 2 | - | |
Impairment loss | - | 596 | |
Loss on retirement of non-current assets | 36 | 38 | |
Loss on valuation of investment securities | - | 179 | |
Loss on step acquisitions | 95 | - | |
Loss related to COVID | - | 44 | |
Other | - | 23 | |
Total extraordinary losses | 134 | 882 | |
Profit (loss) before income taxes | 643 | (3,224) | |
Income taxes | 436 | (536) | |
Profit (loss) | 206 | (2,687) | |
Profit attributable to non-controlling interests | 16 | 10 | |
Profit (loss) attributable to owners of parent | 190 | (2,698) |
Quarterly Consolidated Statements of Comprehensive Income (For the six months)
(Million yen) | |||
For the six months | For the six months | ||
ended July 31,2019 | ended July 31,2020 | ||
Profit (loss) | 206 | (2,687) | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | (4) | (324) | |
Deferred gains or losses on hedges | 0 | 0 | |
Foreign currency translation adjustment | (119) | (382) | |
Remeasurements of defined benefit plans, net of tax | (72) | (53) | |
Total other comprehensive income | (197) | (758) | |
Comprehensive income | 9 | (3,445) | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of | (3) | (3,456) | |
parent | |||
Comprehensive income attributable to non-controlling | 12 | 10 | |
interests | |||
Quarterly Consolidated Statements of Cash Flows
(Million yen) | |||
For the six months | For the six months | ||
ended July 31,2019 | ended July 31,2020 | ||
Cash flows from operating activities | |||
Profit (loss) before income taxes | 643 | (3,224) | |
Depreciation | 1,095 | 1,105 | |
Impairment loss | - | 596 | |
Amortization of goodwill | 404 | 400 | |
Increase (decrease) in provision | 2 | (18) | |
Increase (decrease) in retirement benefit liability | (141) | (135) | |
Loss (gain) on step acquisitions | 95 | - | |
Gain on bargain purchase | (241) | - | |
Interest and dividend income | (30) | (25) | |
Interest expenses | 54 | 56 | |
Loss (gain) on sales of non-current assets | (0) | (6) | |
Loss on retirement of non-current assets | 9 | 17 | |
Decrease (increase) in trade receivables | (1,349) | 3,645 | |
Decrease (increase) in inventories | (347) | 1,009 | |
Increase (decrease) in trade payables | 745 | (4,810) | |
Loss (gain) on valuation of investment securities | - | 179 | |
Other, net | (91) | 376 | |
Subtotal | 848 | (833) | |
Interest and dividends received | 30 | 25 | |
Interest paid | (53) | (55) | |
Income taxes (paid) refund | (493) | (748) | |
Other, net | 11 | 2 | |
Net cash provided by (used in) operating activities | 343 | (1,610) | |
Cash flows from investing activities | |||
Purchase of non-current assets | (1,488) | (657) | |
Proceeds from sales and collection of non current | 161 | 196 | |
assets | |||
Purchase of investment securities | (8) | (7) | |
Purchase of shares of subsidiaries resulting in change | - | (978) | |
in scope of consolidation | |||
Proceeds from purchase of shares of subsidiaries | 740 | - | |
resulting in change in scope of consolidation | |||
Other, net | (15) | (184) | |
Net cash provided by (used in) investing activities | (611) | (1,632) | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term borrowings | 1,000 | - | |
Proceeds from long-term borrowings | 5,850 | 11,039 | |
Repayments of long-term borrowings | (5,418) | (5,644) | |
Repayments of lease obligations | (201) | (249) | |
Purchase of treasury shares | (0) | (0) | |
Dividends paid | (269) | (269) | |
Proceeds from issuance of shares resulting from | - | 47 | |
exercise of share acquisition rights | |||
Payments from changes in ownership interests in | - | (849) | |
subsidiaries that do not result in change in scope of | |||
consolidation | |||
Other, net | (28) | (29) | |
Net cash provided by (used in) financing activities | 933 | 4,044 | |
Effect of exchange rate change on cash and cash | (25) | (71) | |
equivalents | |||
Net increase (decrease) in cash and cash equivalents | 640 | 730 | |
Cash and cash equivalents at beginning of period | 7,245 | 6,790 | |
Cash and cash equivalents at end of period | 7,886 | 7,520 |
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TOHO Co. Ltd. published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 03:34:08 UTC
