Consolidated Financial Results for the Three-Month Period of the Fiscal Year ending February 29, 2024

(Japanese GAAP)

July 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 to submit the Quarterly Financial Report: July 13, 2023

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 2024 (From March 1, 2023 to May 31, 2023)

(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

%

20,003

8.7

1,465

1.3

1,501

0.9

850

(11.5)

Fiscal 2024

Three-Month Period of

18,396

4.1

1,446

(17.6)

1,488

(15.1)

961

(11.9)

Fiscal 2023

(Note) Comprehensive income: Three-month period of fiscal 2024: ¥1,027 million [7.5%]

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

Profit per share

Fully diluted profit per share

Three-Month Period of

Yen

Yen

16.97

-

Fiscal 2024

Three-Month Period of

18.58

-

Fiscal 2023

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Three-Month Period of

Millions of yen

Millions of yen

%

146,444

98,675

66.8

Fiscal 2024

Fiscal 2023

138,652

99,574

71.2

(Reference) Equity: Three-

month period of fiscal 2024: ¥97,790 million

Fiscal 2023: ¥98,709 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 2023

-

0.00

-

38.00

38.00

Fiscal 2024

-

Fiscal 2024 (Forecast)

0.00

-

43.00

43.00

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

1

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

(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 2024: 52,021,297 shares

Fiscal 2023:

52,021,297 shares

  1. Number of treasury shares at the end of period: Three-month period of fiscal 2024: 1,930,626 shares

Fiscal 2023:1,888,341 shares

3) Average number of shares during the period: Three-month period of fiscal 2024: 50,122,342 shares Three-month period of fiscal 2023: 51,768,308 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, 2023

As of May 31, 2023

Assets

Current assets

Cash and deposits

20,210

23,161

Notes and accounts receivable - trade

20,182

20,065

Securities

3,713

600

Merchandise

5,305

5,732

Raw materials and supplies

150

133

Work in process

-

78

Other

975

1,583

Allowance for doubtful accounts

(69)

(79)

Total current assets

50,467

51,273

Non-current assets

Property, plant and equipment

Assets for rent, net

12,457

12,189

Real estate for rent, net

42,678

42,675

Land

11,079

11,564

Other, net

9,501

10,509

Total property, plant and equipment

75,716

76,939

Intangible assets

Goodwill

6,070

10,829

Other

636

701

Total intangible assets

6,706

11,530

Investments and other assets

Investment securities

2,991

3,868

Retirement benefit asset

787

811

Other

2,484

2,580

Allowance for doubtful accounts

(503)

(560)

Total investments and other assets

5,761

6,700

Total non-current assets

88,184

95,170

Total assets

138,652

146,444

3

(Millions of yen)

As of February 28, 2023

As of May 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

Short-term borrowings

Current portion of long-term borrowings

Provision for product warranties

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

10,626

11,315

920

7,169

122

117

-

9

1,201

967

405

909

7,573

8,426

20,848

28,916

543

692

106

111

21

26

283

368

17,275

17,653

18,229

18,852

39,078

47,769

13,821

13,821

16,627

16,627

71,092

70,075

(2,154)

(2,212)

99,386

98,311

1,086

1,263

185

173

(2,144)

(2,144)

195

187

Total accumulated other comprehensive income

(676)

(520)

Non-controlling interests

864

884

Total net assets

99,574

98,675

Total liabilities and net assets

138,652

146,444

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 2023

Fiscal 2024

(From March 1, 2022

(From March 1, 2023

to May 31, 2022)

to May 31, 2023)

Net sales

18,396

20,003

Cost of sales

13,205

14,330

Gross profit

5,191

5,672

Selling, general and administrative expenses

3,744

4,207

Operating profit

1,446

1,465

Non-operating income

Interest income

1

0

Dividend income

11

12

Purchase discounts

8

8

Foreign exchange gains

28

16

Gain on investments in investment partnerships

9

11

Other

26

32

Total non-operating income

86

82

Non-operating expenses

Interest expenses

30

44

Dismantlement cost

12

-

Other

2

2

Total non-operating expenses

44

46

Ordinary profit

1,488

1,501

Extraordinary income

Gain on sale of non-current assets

0

1

Total extraordinary income

0

1

Extraordinary losses

Loss on sale of non-current assets

-

0

Loss on retirement of non-current assets

0

5

Total extraordinary losses

0

6

Profit before income taxes

1,487

1,496

Income taxes - current

642

743

Income taxes - deferred

(144)

(121)

Total income taxes

498

621

Profit

989

874

Profit attributable to non-controlling interests

27

23

Profit attributable to owners of parent

961

850

5

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