Consolidated Financial Results for the Three-Month Period of the Fiscal Year ending February 28, 2023

(Japanese GAAP)

July 8, 2022

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 to submit the Quarterly Financial Report: July 14, 2022

Scheduled date to commence dividend payment: -

Supplementary information for quarterly financial results: Available

Organization of quarterly financial results briefing: None

(Figures are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Three-Month Period of Fiscal 2023 (From March 1, 2022 to May 31, 2022)

(1) Consolidated Results of Operations

(Percentage figures indicate changes from the same period of the previous year)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three-Month Period of

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Fiscal 2023

18,396

4.1

1,446

(17.6)

1,488

(15.1)

961

(11.9)

Three-Month Period of

Fiscal 2022

17,675

(10.5)

1,755

16.9

1,753

12.6

1,091

13.9

(Note) Comprehensive income: Three-month period of fiscal 2023: ¥955 million [(26.0%)]

Three-month period of fiscal 2022: ¥1,290 million [5.9%]

Profit per share

Fully diluted profit per share

Three-Month Period of

Yen

Yen

18.58

-

Fiscal 2023

Three-Month Period of

21.02

-

Fiscal 2022

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Three-Month Period of

Millions of yen

Millions of yen

%

134,384

98,184

72.5

Fiscal 2023

Fiscal 2022

144,376

99,093

68.1

(Reference) Equity: Three-

month period of fiscal 2023: ¥97,422 million

Fiscal 2022: ¥98,373 million

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

-

Fiscal 2023 (Forecast)

0.00

-

35.00

35.00

(Note) Revision to the dividend forecast from recently announced figures: None

1

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

(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

79,000

5.3

6,000

9.0

6,150

8.6

3,700

3.5

71.27

(Note) Revision

to the financial forecast from recently announced figures: None

* 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. Adoption of special accounting treatment for preparing quarterly consolidated financial statements: Not applicable
  3. 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
  5. Number of shares issued (common shares)
    1. Number of shares issued at the end of period (including treasury shares):

Three-month period of fiscal 2023: 52,021,297 shares

Fiscal 2022: 52,021,297 shares

  1. Number of treasury shares at the end of period: Three-month period of fiscal 2023: 494,333 shares Fiscal 2022: 134,756 shares
  2. Average number of shares during the period:

Three-month period of fiscal 2023: 51,768,308 shares

Three-month period of fiscal 2022: 51,934,114 shares

*These Consolidated Financial Results are not subject to quarterly review 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.

2

Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheets

(Millions of yen)

As of February 28, 2022

As of May 31, 2022

Assets

Current assets

Cash and deposits

27,774

18,089

Notes and accounts receivable - trade

22,430

20,135

Securities

6,150

5,885

Merchandise

2,930

4,144

Supplies

111

132

Other

631

966

Allowance for doubtful accounts

(78)

(77)

Total current assets

59,950

49,276

Non-current assets

Property, plant and equipment

Assets for rent, net

11,320

11,204

Real estate for rent, net

43,808

44,224

Land

8,413

8,886

Other, net

6,615

6,824

Total property, plant and equipment

70,157

71,138

Intangible assets

Goodwill

7,163

6,884

Other

634

662

Total intangible assets

7,797

7,547

Investments and other assets

Investment securities

4,041

3,925

Retirement benefit asset

689

691

Other

2,183

2,282

Allowance for doubtful accounts

(443)

(477)

Total investments and other assets

6,470

6,422

Total non-current assets

84,425

85,108

Total assets

144,376

134,384

3

(Millions of yen)

As of February 28, 2022 As of May 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

Short-term borrowings

Current portion of long-term borrowings

Income taxes payable

Provision for bonuses

Other

Total current liabilities

Non-current liabilities

Long-term borrowings

Provision for share based compensation expenses for directors

Provision for retirement benefits for directors (and other officers)

Retirement benefit liability

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

10,237

1,103

1,040

77

74

1,569

699

373

776

7,261

7,291

28,910

20,120

172

156

84

90

18

19

252

251

15,843

15,562

16,372

16,080

45,282

36,200

13,821

13,821

16,627

16,627

68,675

68,151

(154)

(533)

98,969

98,066

1,288

1,191

94

150

(2,144)

(2,144)

164

158

Total accumulated other comprehensive income

(596)

(644)

Non-controlling interests

720

761

Total net assets

99,093

98,184

Total liabilities and net assets

144,376

134,384

4

(2) Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income

(Three-Month Period of Consolidated Fiscal Year)

(Millions of yen)

Three-Month Period of

Three-Month Period of

Fiscal 2022

Fiscal 2023

(From March 1, 2021

(From March 1, 2022

to May 31, 2021)

to May 31, 2022)

Net sales

17,675

18,396

Cost of sales

12,536

13,205

Provision of unrealized income on installment sales

23

―

Reversal of unrealized income on installment sales

79

―

Gross profit

5,195

5,191

Selling, general and administrative expenses

3,439

3,744

Operating profit

1,755

1,446

Non-operating income

Interest income

Dividend income

Purchase discounts

Foreign exchange gains

Gain on investments in investment partnerships Other

Total non-operating income

Non-operating expenses

Loss on cancellation of insurance policies Interest expenses

Removal costs

Other

Total non-operating expenses

Ordinary profit

Extraordinary income

Gain on sale of non-current assets

Gain on sale of investment securities

Total extraordinary income

Extraordinary losses

Loss on sale of non-current assets

Loss on retirement of non-current assets

3

1

7

11

9

8

11

28

10

9

10

26

53

86

24―

25

30

―

12

5

2

55

44

1,753

1,488

0

0

28―

28

0

0―

1

0

Total extraordinary losses

2

0

Profit before income taxes

1,780

1,487

Income taxes - current

728

642

Income taxes - deferred

(62)

(144)

Total income taxes

665

498

Profit

1,114

989

Profit attributable to non-controlling interests

23

27

Profit attributable to owners of parent

1,091

961

5

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Wakita & Co. Ltd. published this content on 08 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 14:31:06 UTC.