VALQUA : posted summary of its FY ended March 2021 3rd Quarter results.
January 27, 2021 at 03:34 am EST
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January 27, 2021
Summary of Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ending March 31, 2021
VALQUA, LTD. (7995)
English translation from the original Japanese-language document
(All financial information has been prepared in accordance with accounting principles generally accepted in Japan)
Consolidated Balance Sheets
(Millions of yen)
As of March 31, 2020
As of December 31, 2020
Assets
Current assets
Cash and deposits
6,644
6,872
Notes and accounts receivable - trade
11,357
11,917
Electronically recorded monetary claims -
1,885
2,066
operating
Merchandise and finished goods
3,000
3,175
Work in process
646
830
Raw materials and supplies
1,369
1,304
Other
1,922
1,994
Allowance for doubtful accounts
14
15
Total current assets
26,811
28,146
-
-
Non-current assets
Property, plant and equipment
Buildings and structures, net
6,278
5,855
Land
4,005
4,002
Other, net
5,582
6,624
Total property, plant and equipment
15,866
16,482
Intangible assets
Other
906
1,265
Total intangible assets
906
1,265
Investments and other assets
Investment securities
2,982
3,152
Other
1,561
1,493
Allowance for doubtful accounts
0
3
Total investments and other assets
4,544
4,641
-
-
Total non-current assets
21,317
22,389
Total assets
48,128
50,535
ï¼ 1 ï¼
(Millions of yen)
As of March 31, 2020
As of December 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade
5,190
4,981
Short-term borrowings
1,782
1,959
Current portion of long-term borrowings
130
111
Income taxes payable
362
389
Provision for bonuses
430
237
Provision for bonuses for directors (and
38
45
other officers)
Other
2,581
2,858
Total current liabilities
10,517
10,583
Non-current liabilities
Long-term borrowings
1,158
2,052
Retirement benefit liability
534
459
Other
987
1,547
Total non-current liabilities
2,680
4,059
Total liabilities
13,197
14,643
Net assets
Shareholders' equity
Share capital
13,957
13,957
Capital surplus
3,963
3,979
Retained earnings
16,558
17,068
Treasury shares
1,635
1,573
Total shareholders' equity
32,843
33,432
-
-
Accumulated other comprehensive income
Valuation difference on available-for-sale
1,054
1,540
securities
Foreign currency translation adjustment
131
358
Remeasurements of defined benefit plans
-432
-300
Total accumulated other comprehensive
-
-
490
881
income
Non-controlling interests
1,596
1,578
Total net assets
34,930
35,892
Total liabilities and net assets
48,128
50,535
ï¼ 2 ï¼
Consolidated Statements of Income
(Millions of yen)
Nine months ended
Nine months ended
December 31, 2019
December 31, 2020
Net sales
36,561
32,748
Cost of sales
22,782
19,947
Gross profit
13,778
12,800
Selling, general and administrative expenses
10,426
10,555
Operating profit
3,352
2,245
Non-operating income
Interest income
4
2
Dividend income
51
43
Rental income from facilities
170
284
Share of profit of entities accounted for using
8
6
equity method
Other
82
138
Total non-operating income
319
475
Non-operating expenses
Interest expenses
55
51
Rental expenses on facilities
144
237
Foreign exchange losses
52
9
Other
48
29
Total non-operating expenses
300
328
Ordinary profit
3,371
2,393
Extraordinary income
Gain on sales of investment securities
103
916
Other
5
2
Total extraordinary income
108
919
Extraordinary losses
Loss on abandonment of non-current assets
17
11
Impairment loss
ï¼
49
Loss on sales of investment securities
ï¼
46
Compensation expenses for health damage
ï¼
34
caused by asbestos
Other
4
0
Total extraordinary losses
21
141
Profit before income taxes
3,457
3,170
Income taxes - current
777
824
Income taxes - deferred
212
146
Total income taxes
989
970
Profit
2,468
2,199
Profit attributable to non-controlling interests
74
9
Profit attributable to owners of parent
2,393
2,190
ï¼ 3 ï¼
Consolidated Statements of Comprehensive Income
(Millions of yen)
Nine months ended
Nine months ended
December 31, 2019
December 31, 2020
Profit
2,468
2,199
Other comprehensive income
Valuation difference on available-for-sale
331
487
securities
Foreign currency translation adjustment
486
232
Remeasurements of defined benefit plans, net
-
-
67
132
of tax
Share of other comprehensive income of
7
1
entities accounted for using equity method
Total other comprehensive income
94
386
-
-
-
Comprehensive income
2,373
2,586
Comprehensive income attributable to
Comprehensive income attributable to owners
2,335
2,580
of parent
Comprehensive income attributable to non-
37
5
controlling interests
ï¼ 4 ï¼
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Nippon Valqua Industries Ltd. published this content on 27 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2021 08:33:02 UTC
VALQUA, LTD., formerly NIPPON VALQUA INDUSTRIES, LTD. is a Japan-based company primarily engaged in the manufacture and sale of seal products. The Company operates in three business segments. The Seal Products segment manufactures and sells plant and machinery related products, elastomer products, automobile parts and other seal products. The Functional Resin Product segment manufactures and sells resin products. The Other Product segment provides membrane products and environment-related product.