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 Year Ended March 31, 2023

(Based on Japanese GAAP)

May 15, 2023

Company name:

Tohto Suisan Co., Ltd

Stock exchange listing:

Tokyo

Stock code:

8038

URL https://www.tohsui.co.jp

Representative:

President and Representative Director

Shoji Kuga

Inquiries:

Operating Officer, Accounting Dept.

Hiroshi Tanaka

TEL 03-6633-1005

Scheduled date of ordinary general meeting of shareholders:

June 21, 2023

Scheduled date to file Securities Report:

June 21, 2023

Scheduled date to commence dividend payments:

June 22, 2023

Preparation of supplementary material on financial results:

No

Holding of financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results

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

%

Year ended March 31, 2023

96,361

18.8

2,872

55.3

3,141

55.4

2,698

68.9

Year ended March 31, 2022

81,113

-

1,850

28.6

2,021

16.2

1,597

4.9

Earnings per share

Diluted earnings per

Profit attributable to

Ordinary profit/total

Operating profit/net

share

owners of

assets

sales

parent/equity

Yen

Yen

%

%

%

Year ended March 31, 2023

687.70

-

12.3

9.4

3.0

Year ended March 31, 2022

406.78

-

8.3

6.6

2.3

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of March 31, 2023

35,240

23,348

66.3

5,951.11

As of March 31, 2022

31,381

20,347

64.8

5,186.47

(3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended March 31, 2023

256

(1,946)

(490)

6,410

Year ended March 31, 2022

497

(85)

(1,204)

8,392

2. Cash dividends

Annual dividends per share

Total cash

Dividend payout

Ratio of dividends

to net assets

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

dividends (Total)

ratio (Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Year ended March 31, 2022

-

-

-

100.00

100.00

397

24.6

2.0

Year ended March 31, 2023

-

-

-

135.00

135.00

537

19.6

2.4

Year ending March 31, 2024

-

-

-

135.00

135.00

35.3

(Forecast)

1

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

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

95,000

(1.4)

2,000

(30.4)

2,000

(36.3)

1,500

(44.4)

382.32

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2023

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) 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:

Yes

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

(3) 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

4,026,000 shares

As of March 31, 2022

4,026,000 shares

Number of treasury shares at the end of the period

As of March 31, 2023

102,606 shares

As of March 31, 2022

102,780 shares

Average number of shares during the period

Year ended March 31, 2023

3,923,374 shares

Year ended March 31, 2022

3,927,656 shares

  • Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
  • Proper use of forecasts of financial results, and other special matters

The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual results may differ substantially due to various factors.

2

Consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

Assets

Current assets

Cash and deposits

9,130

7,751

Notes receivable - trade

8

32

Accounts receivable - trade

5,801

7,399

Merchandise and finished goods

2,998

5,084

Work in process

4

3

Raw materials and supplies

86

103

Other

393

181

Allowance for doubtful accounts

(382)

(381)

Total current assets

18,041

20,173

Non-current assets

Property, plant and equipment

Buildings and structures

10,081

10,293

Accumulated depreciation

(6,844)

(7,123)

Buildings and structures, net

3,236

3,169

Machinery, equipment and vehicles

3,526

3,709

Accumulated depreciation

(2,760)

(2,893)

Machinery, equipment and vehicles, net

766

816

Land

2,969

3,394

Construction in progress

91

250

Other

666

686

Accumulated depreciation

(526)

(587)

Other, net

140

99

Total property, plant and equipment

7,204

7,729

Intangible assets

Leasehold interests in land

184

291

Fishery right

3,097

3,637

Other

35

30

Total intangible assets

3,317

3,960

Investments and other assets

Investment securities

2,405

2,449

Deferred tax assets

76

157

Distressed receivables

177

284

Other

320

676

Allowance for doubtful accounts

(162)

(191)

Total investments and other assets

2,817

3,376

Total non-current assets

13,339

15,066

Total assets

31,381

35,240

3

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

2,403

2,887

Short-term borrowings

2,619

2,337

Income taxes payable

280

285

Provision for bonuses

65

78

Provision for shareholder benefit program

1

1

Other

900

1,474

Total current liabilities

6,271

7,064

Non-current liabilities

Long-term borrowings

2,060

2,274

Deferred tax liabilities

436

402

Long-term guarantee deposits

935

966

Deferred tax liabilities for land revaluation

298

298

Retirement benefit liability

785

643

Provision for share awards

33

35

Provision for share awards for directors

20

38

Asset retirement obligations

122

119

Other

67

49

Total non-current liabilities

4,761

4,827

Total liabilities

11,033

11,891

Net assets

Shareholders' equity

Share capital

2,376

2,376

Capital surplus

1,085

1,085

Retained earnings

16,002

18,302

Treasury shares

(260)

(260)

Total shareholders' equity

19,203

21,502

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

612

672

Deferred gains or losses on hedges

(0)

1

Revaluation reserve for land

522

522

Foreign currency translation adjustment

(38)

589

Remeasurements of defined benefit plans

47

59

Total accumulated other comprehensive income

1,144

1,845

Total net assets

20,347

23,348

Total liabilities and net assets

31,381

35,240

4

Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

Net sales

81,113

96,361

Cost of sales

74,654

88,812

Gross profit

6,459

7,549

Selling, general and administrative expenses

4,608

4,676

Operating profit

1,850

2,872

Non-operating income

Interest income

21

52

Dividend income

69

127

Gain on sale of non-current assets

50

76

Foreign exchange gains

-

25

Rental income

19

21

Subsidy income

42

8

Other

43

44

Total non-operating income

247

356

Non-operating expenses

Interest expenses

22

19

Provision of allowance for doubtful accounts

-

31

Loss on retirement of non-current assets

30

23

Foreign exchange losses

16

-

Other

6

13

Total non-operating expenses

75

87

Ordinary profit

2,021

3,141

Extraordinary income

Gain on sale of non-current assets

-

2

National subsidies

41

51

Gain on sale of investment securities

7

0

Total extraordinary income

48

54

Extraordinary losses

Loss on sale of non-current assets

49

-

Impairment losses

-

24

Loss on tax purpose reduction entry of non-current assets

41

51

Loss on sale of investment securities

-

0

Total extraordinary losses

91

76

Profit before income taxes

1,979

3,119

Income taxes - current

414

584

Income taxes - deferred

(32)

(162)

Total income taxes

381

421

Profit

1,597

2,698

Profit attributable to owners of parent

1,597

2,698

5

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Disclaimer

Tohto Suisan Co. Ltd. published this content on 19 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 June 2023 02:26:06 UTC.