Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

July 27, 2023

Consolidated Financial Results

for the Three Months Ended June 30, 2023

(Under Japanese GAAP)

Company name:

TOKAI RIKA CO., LTD.

Listing:

Tokyo Stock Exchange and Nagoya Stock Exchange

Securities code:

6995

URL:

http://www.tokai-rika.co.jp

Representative:

Hiroyoshi Ninoyu, President

Inquiries:

Hiroaki Shimizu, General Manager of Finance and Accounting Division

Telephone:

+81-587-95-5211

Scheduled date to file quarterly securities report:

July 27, 2023

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results: No

Holding of quarterly financial results briefing:

No

(Yen amounts are rounded down to millions, unless otherwise noted.)

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

(1) Consolidated operating results

(Percentages indicate the changes of the same period of the previous year.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

June 30, 2023

148,652

19.1

8,783

-

14,339

247.8

10,345

265.4

June 30, 2022

124,844

1.4

(773)

-

4,122

(43.8)

2,831

(50.0)

Note: Comprehensive income

For the three months ended June 30, 2023:

¥22,932 million

[157.3 %]

For the three months ended June 30, 2022:

¥8,914 million

[35.1%]

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

June 30, 2023

113.28

-

June 30, 2022

31.01

-

(2) Consolidated financial position

Total assets

Net assets

Capital adequacy ratio

As of

Millions of yen

Millions of yen

%

June 30, 2023

479,017

316,141

61.8

March 31, 2023

456,146

296,401

60.8

Reference: Equity

As of June 30, 2023:

¥296,031 million

As of March 31, 2023:

¥277,375 million

1

2. Cash dividends

Annual dividends per share

First quarter-end

Second quarter-end

Third quarter-end

Fiscal

Total

year-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

30.00

-

34.00

64.00

March 31, 2023

Fiscal year ended

-

March 31, 2024

Fiscal year ending

32.00

-

32.00

64.00

March 31, 2024

(Forecast)

Notes: Revisions to the forecast of cash dividends most recently announced: None

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

(Percentages indicate the changes of the same period of the previous year.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

owners of parent

per share

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

580,000

4.9

20,000

20.1

21,000

(12.7)

13,000

19.3

142.33

Notes: Revisions to the forecast of cash dividends most recently announced: Yes

* Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  4. Number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2023

94,234,171 shares

As of March 31, 2023

94,234,171 shares

(ii) Number of treasury shares at the end of the period

As of June 30, 2023

2,894,501 shares

As of March 31, 2023

2,911,355 shares

(iii) Average number of shares outstanding during the period

For the three months ended June 30, 2023

91,326,985 shares

For the three months ended June 30, 2022

91,303,155 shares

  • Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters
    The above forward-looking statements are prepared based on judgment and assumption from information currently available to the Company. These statements do not purport that the Company pledges to realize such statements. Actual business results may differ from the forecast figures due to various factors such as uncertainties of the information, future economic conditions, stock prices and exchange rates trends.

2

Consolidated Balance Sheet

TOKAI RIKA Co., Ltd. and Consolidated Subsidiaries

Millions of Yen

As of

As of

ASSETS

March 31, 2023

June 30, 2023

CURRENT ASSETS:

Cash and deposits

69,728

78,379

Notes and accounts receivable

83,904

84,794

Electronically recorded monetary claims-operating

12,930

13,409

Marketable securities

299

899

Finished goods

26,120

24,730

Work-in-process

36,436

37,662

Raw materials and supplies

9,242

9,559

Other current assets

12,978

13,211

Less: Allowance for doubtful accounts

(46)

(46)

Total current assets

251,595

262,601

NON-CURRENT ASSETS:

Tangible non-current assets

Buildings and structures

35,222

38,880

Machinery and vehicle

31,388

31,804

Others

38,221

38,289

Total tangible non-current assets

104,833

108,973

Intangible non-current assets

Others

3,567

3,553

Total intangible non-current assets

3,567

3,553

Investments and other assets:

Investments securities

51,749

58,229

Others

44,507

45,766

Less: Allowance for doubtful accounts

(106)

(106)

Total investments and other assets

96,150

103,889

Total noncurrent assets

204,550

216,416

TOTAL

456,146

479,017

3

Millions of Yen

As of

As of

LIABILITIES AND EQUITY

March 31, 2023

June 30, 2023

CURRENT LIABILITIES：

Notes and accounts payable

53,374

55,326

Electronically recorded obligations-operating

10,815

12,194

Income taxes payable

3,296

4,045

Provision for bonuses to employees

8,811

5,658

Provision for product warranty

2,511

1,697

Other provisions

177

49

Others

39,637

40,691

Total current liabilities

118,624

119,663

NONCURRENT LIABILITIES:

Bonds payable

10,000

10,000

Provision for retirement benefits for directors (and other officers)

300

204

Defined benefit liability

22,496

22,451

Long-term asset retirement obligations

72

72

Others

8,251

10,483

Total noncurrent liabilities

41,120

43,212

Total liabilities

159,744

162,875

SHAREHOLDERS' EQUITY:

Common stock

22,856

22,856

Capital surplus

25,613

25,617

Retained earnings

201,936

209,176

Treasury common stock, at cost

(5,238)

(5,208)

Total shareholders' equity

245,167

252,442

ACCUMULATED OTHER COMPREHENSIVE INCOME

Net unrealized gain on available-for-sale securities

7,700

11,524

Foreign currency translation adjustments

14,468

22,243

Remeasurements of defined benefit plans

10,038

9,821

Total accumulated other comprehensive income

32,208

43,588

NON-CONTROLLING INTERESTS

19,026

20,110

Total equity

296,401

316,141

TOTAL

456,146

479,017

4

Consolidated Statement of Income and Comprehensive Income

TOKAI RIKA Co., Ltd. and Consolidated Subsidiaries

(Consolidated Statement of Income)

Millions of Yen

Three months Ended

Three months Ended

June 30, 2022

June 30, 2023

NET SALES

124,844

148,652

COST OF SALES

113,863

128,896

Gross profit

10,980

19,756

SELLING，GENERAL AND

ADMINISTRATIVE EXPENSES

11,753

10,973

Operating income

(773)

8,783

NON-OPERATING INCOME

Interest income

85

276

Dividend income

253

282

Share of profit of entities accounted for

89

255

using equity method

Foreign exchange gain

4,317

4,608

Other

195

153

Total non-operating income

4,941

5,577

NON-OPERATING EXPENSES

Interest expenses

19

12

Other

25

8

Total non-operating expenses

45

20

Ordinary income

4,122

14,339

EXTRAORDINARY LOSS

Loss on sales and retirement of non-current assets

25

192

Total extraordinary loss

25

192

INCOME BEFORE INCOME TAXES

4,096

14,147

INCOME TAXES

1,304

3,189

PROFIT

2,792

10,957

PROFIT ATTRIBUTABLE TO

(38)

611

NON-CONTROLLING INTERESTS

PROFIT ATTRIBUTABLE TO

2,831

10,345

OWNERS OF PARENT

Consolidated Statement of Income and Comprehensive Income

TOKAI RIKA Co., Ltd. and Consolidated Subsidiaries

(Consolidated Statement of Comprehensive Income)

Millions of Yen

Three months Ended

Three months Ended

June 30, 2022

June 30, 2023

PROFIT

2,792

10,957

OTHER COMPREHENSIVE INCOME

Net unrealized gain on available-for-sale securities

(987)

3,901

Foreign currency translation adjustments

7,283

8,118

Remeasurements of defined benefit plans

(284)

(218)

Share of other comprehensive income of entities

110

173

accounted for using equity method

Total other comprehensive income

6,122

11,975

COMPREHENSIVE INCOME

8,914

22,932

(Breakdown)

Comprehensive income

8,479

21,726

attributable to owners of parent

Comprehensive income

435

1,206

attributable to non-controlling interests

5

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Tokai Rika Co. Ltd. published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 07:53:04 UTC.