Consolidated Financial Results

for the Fiscal Year ended February 28, 2023

(Japanese GAAP)

April 7, 2023

Company Name: Wakita & Co., LTD.

Code Number: 8125

(URL: https://www.wakita.co.jp/)

Stock Exchange Listing: Tokyo Stock Exchange Prime Market

Representative: Teiji Wakita, President and Representative Director

Contact: Atsuhiko Nariyama, Executive Officer, General Manager of General Affairs Division

Phone: 06-6449-1901

Scheduled date of Ordinary General Shareholders' Meeting: May 25, 2023

Scheduled date to commence dividend payment: May 26, 2023

Scheduled date to submit the Securities Report: May 29, 2023

Supplementary information for financial results: Available

Organization of financial results briefing: Available

(Figures are rounded down to the nearest million yen)

1. Consolidated Financial Results for Fiscal 2023 (From March 1, 2022 to February 28, 2023)

(1) Consolidated Results of Operations

(Percentage figures indicate changes from the previous year)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Fiscal 2023

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

78,870

5.2

5,765

4.7

5,880

3.9

3,901

9.2

Fiscal 2022

74,989

1.3

5,506

1.5

5,661

(0.0)

3,573

12.0

(Note) Comprehensive income: Fiscal 2023: ¥3,965 million [1.5%]

Fiscal 2022: ¥3,908 million [4.1%]

Profit per share

Fully diluted profit

Rate of return on

Ordinary profit to

Operating profit to

per share

equity

total assets

net sales

Yen

Yen

%

%

%

Fiscal 2023

76.44

-

4.0

4.2

7.3

Fiscal 2022

68.84

-

3.7

4.0

7.3

(Reference) Equity in earnings (losses) of affiliated companies: Fiscal 2023: ¥ - million Fiscal 2022: ¥ - million

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

Fiscal 2023

138,652

99,574

71.2

1,968.96

Fiscal 2022

144,376

99,093

68.1

1,895.93

(Reference) Equity: Fiscal 2023: ¥98,709 million Fiscal 2022: ¥98,373 million

(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at the end of

operating activities

investing activities

financing activities

the period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Fiscal 2023

4,168

(5,555)

(9,214)

23,142

Fiscal 2022

15,502

(2,135)

(6,168)

33,724

1

2. Dividends

Cash dividends per share

End of 1Q

End of 2Q

End of 3Q

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal 2022

-

0.00

-

33.00

33.00

Fiscal 2023

-

0.00

-

38.00

38.00

Fiscal 2024 (Forecast)

-

0.00

-

43.00

43.00

Total dividends

paid (total)

Millions of yen

1,716

1,909

Payout ratio

Dividends to

net assets

(consolidated)

(consolidated)

%

%

47.9

1.8

49.7

2.0

51.3

3. Forecast of Consolidated Financial Results for Fiscal 2024 (From March 1, 2023 to February 29, 2024)

(Percentage figures indicate changes from the previous year)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Profit per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

90,000

14.1

6,400

11.0

6,550

11.4

4,200

7.6

83.78

* Notes

  1. Significant changes of subsidiaries during the period under review (affecting specific subsidiaries due to changes in scope of consolidation): None
    Companies added to the scope: None
    Companies removed from the scope: None
  2. Changes in accounting policies, changes in accounting estimates and restatements
    1. Changes in accounting policies due to the revision of accounting standards, etc.: Applicable
    2. Any changes in accounting policies other than 1) above: Not applicable
    3. Changes in accounting estimates: Not applicable
    4. Restatements: Not applicable
  4. Number of shares issued (common shares)
    1. Number of shares issued at the end of period (including treasury shares):

Fiscal 2023: 52,021,297 shares

Fiscal 2022: 52,021,297 shares

  1. Number of treasury shares at the end of period: Fiscal 2023: 1,888,341 shares
    Fiscal 2022: 134,756 shares
  2. Average number of shares during the period: Fiscal 2023: 51,046,848 shares
    Fiscal 2022: 51,918,501 shares

2

(Reference) Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for Fiscal 2023 (From March 1, 2022 to February 28, 2023)

(1) Non-consolidated Results of Operations

(Percentage figures indicate changes from the previous year)

Net sales

Operating profit

Ordinary profit

Profit

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Fiscal 2023

53,682

0.5

4,761

5.1

5,120

4.2

3,916

3.1

Fiscal 2022

53,430

(1.1)

4,529

0.4

4,915

0.2

3,798

18.7

Profit per share

Fully diluted profit

per share

Yen

Yen

Fiscal 2023

76.71

-

Fiscal 2022

73.16

-

(2) Non-consolidated Financial Position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

Fiscal 2023

126,074

97,914

77.7

1,953.10

Fiscal 2022

131,564

97,683

74.2

1,882.63

(Reference) Equity: Fiscal

2023: ¥97,914 million

Fiscal 2022: ¥97,683 million

2. Forecast of Non-consolidated Financial Results for Fiscal 2024 (From March 1, 2023 to February 29, 2024)

(Percentage figures indicate changes from the previous year)

Net sales

Ordinary profit

Profit

Profit per share

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

59,000

9.9

5,800

13.3

4,000

2.1

79.79

*These Consolidated Financial Results are not subject to audits by certified public accountants or an auditing firm.

*Explanation for the appropriate use of performance forecasts and other special notes:

The performance forecasts and other descriptions on future events presented in this material are based on information that was available at the time of preparation of this material and based on certain assumptions considered to be reasonable, and not intended to guarantee their achievement. The actual performance, etc. may differ materially from these forecasts due to various factors.

3

Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Millions of yen)

As of February 28, 2022

As of February 28, 2023

Assets

Current assets

Cash and deposits

27,774

20,210

Notes and accounts receivable - trade

22,430

-

Bills receivable

7,739

Accounts receivable

12,442

Securities

6,150

3,713

Merchandise

2,930

5,305

Supplies

111

150

Other

631

975

Allowance for doubtful accounts

(78)

(69)

Total current assets

59,950

50,467

Non-current assets

Property, plant and equipment

Assets for rent

40,479

43,942

Accumulated depreciation

(29,159)

(31,484)

Assets for rent, net

11,320

12,457

Real estate for rent

Buildings and accompanying facilities for rent

34,171

33,355

Accumulated depreciation

(10,682)

(11,262)

Buildings and accompanying facilities for rent, net

23,488

22,092

Land for rent

20,319

20,585

Buildings and structures

12,612

13,836

Accumulated depreciation

(6,831)

(7,231)

Buildings and structures, net

5,781

6,604

Land

8,413

11,079

Leased assets

44

125

Accumulated depreciation

(28)

(86)

Leased assets, net

15

38

Other

2,705

4,915

Accumulated depreciation

(1,887)

(2,057)

Other, net

818

2,858

Total property, plant and equipment

70,157

75,716

Intangible assets

Goodwill

7,163

6,070

Other

634

636

Total intangible assets

7,797

6,706

Investments and other assets

Investment securities

4,041

2,991

Retirement benefit asset

689

787

Deferred tax assets

271

223

Other

1,911

2,260

Allowance for doubtful accounts

(443)

(503)

Total investments and other assets

6,470

5,761

Total non-current assets

84,425

88,184

Total assets

144,376

138,652

4

(Millions of yen)

As of February 28, 2022 As of February 28, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

Short-term borrowings

Current portion of long-term borrowings

Lease liabilities

Income taxes payable

Provision for bonuses

Other

Total current liabilities

Non-current liabilities

Long-term borrowings

Lease liabilities

Deferred tax liabilities

Deferred tax liabilities for land revaluation

Provision for share based compensation expenses for directors

Provision for retirement benefits for directors (and other officers)

Retirement benefit liability

Long-term accounts payable - facilities

Other

Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders' equity

Accumulated other comprehensive income

Valuation difference on available-for-sale securities Deferred gains or losses on hedges

Revaluation reserve for land

Remeasurements of defined benefit plans

18,524

10,626

1,103

920

77

122

5

20

1,569

1,201

373

405

7,255

7,552

28,910

20,848

172

543

15

22

899

814

435

435

84

106

18

21

252

283

10,434

11,969

4,058

4,032

16,372

18,229

45,282

39,078

13,821

13,821

16,627

16,627

68,675

71,092

(154)

(2,154)

98,969

99,386

1,288

1,086

94

185

(2,144)

(2,144)

164

195

Total accumulated other comprehensive income

(596)

(676)

Non-controlling interests

720

864

Total net assets

99,093

99,574

Total liabilities and net assets

144,376

138,652

5

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Wakita & Co. Ltd. published this content on 07 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2023 06:34:08 UTC.