Consolidated Financial Results

for the Interim Period of the Fiscal Year ending February 28, 2023

(Japanese GAAP)

October 7, 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: October 12, 2022

Scheduled date to commence dividend payment: -

Supplementary information for quarterly financial results: Available

Organization of quarterly financial results briefing: Available

(Figures are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Interim Period of Fiscal 2023 (From March 1, 2022 to August 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

Interim Period of

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

37,764

6.3

2,703

(6.0)

2,798

(4.9)

1,732

6.2

Fiscal 2023

Interim Period of

35,516

(6.5)

2,876

11.7

2,942

9.9

1,630

2.0

Fiscal 2022

(Note) Comprehensive income: Interim period of fiscal 2023: ¥1,967 million [4.2%]

Interim period of fiscal 2022: ¥1,887 million [1.0%]

Profit per share

Fully diluted profit per share

Interim Period of

Yen

Yen

33.61

-

Fiscal 2023

Interim Period of

31.39

-

Fiscal 2022

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Interim Period of

Millions of yen

Millions of yen

%

135,894

98,792

72.1

Fiscal 2023

Fiscal 2022

144,376

99,093

68.1

(Reference) Equity: Interim

period of fiscal 2023: ¥97,972

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

-

0.00

Fiscal 2023 (Forecast)

-

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):

Interim period of fiscal 2023: 52,021,297 shares

Fiscal 2022: 52,021,297 shares

  1. Number of treasury shares at the end of period: Interim period of fiscal 2023: 852,212 shares Fiscal 2022: 134,756 shares
  2. Average number of shares during the period: Interim period of fiscal 2023: 51,545,947 shares Interim period of fiscal 2022: 51,937,584 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 August 31, 2022

Assets

Current assets

Cash and deposits

27,774

19,302

Notes and accounts receivable - trade

22,430

20,053

Securities

6,150

5,962

Merchandise

2,930

3,728

Supplies

111

96

Other

631

886

Allowance for doubtful accounts

(78)

(68)

Total current assets

59,950

49,960

Non-current assets

Property, plant and equipment

Assets for rent, net

11,320

11,631

Real estate for rent, net

43,808

43,949

Land

8,413

8,872

Other, net

6,615

7,554

Total property, plant and equipment

70,157

72,008

Intangible assets

Goodwill

7,163

6,606

Other

634

656

Total intangible assets

7,797

7,263

Investments and other assets

Investment securities

4,041

3,991

Retirement benefit asset

689

694

Other

2,183

2,477

Allowance for doubtful accounts

(443)

(501)

Total investments and other assets

6,470

6,662

Total non-current assets

84,425

85,933

Total assets

144,376

135,894

3

(Millions of yen)

As of February 28, 2022

As of August 31, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade

18,524

10,688

Short-term borrowings

1,103

980

Current portion of long-term borrowings

77

71

Income taxes payable

1,569

1,156

Provision for bonuses

373

399

Other

7,261

6,993

Total current liabilities

28,910

20,290

Non-current liabilities

Long-term borrowings

172

140

Provision for share based compensation expenses for

84

95

directors

Provision for retirement benefits for directors (and other

18

19

officers)

Retirement benefit liability

252

252

Other

15,843

16,302

Total non-current liabilities

16,372

16,811

Total liabilities

45,282

37,102

Net assets

Shareholders' equity

Share capital

13,821

13,821

Capital surplus

16,627

16,627

Retained earnings

68,675

68,922

Treasury shares

(154)

(937)

Total shareholders' equity

98,969

98,433

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

1,288

1,238

Deferred gains or losses on hedges

94

292

Revaluation reserve for land

(2,144)

(2,144)

Remeasurements of defined benefit plans

164

151

Total accumulated other comprehensive income

(596)

(461)

Non-controlling interests

720

819

Total net assets

99,093

98,792

Total liabilities and net assets

144,376

135,894

4

(2) Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income

(Interim Period of Consolidated Fiscal Year)

(Millions of yen)

Interim Period of

Interim Period of

Fiscal 2022

Fiscal 2023

(From March 1, 2021

(From March 1, 2022

to August 31, 2021)

to August 31, 2022)

Net sales

35,516

37,764

Cost of sales

25,798

27,435

Provision of unrealized income on installment sales

49

―

Reversal of unrealized income on installment sales

145

―

Gross profit

9,814

10,328

Selling, general and administrative expenses

6,938

7,625

Operating profit

2,876

2,703

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

Dismantlement cost

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 Impairment losses

7

2

66

75

20

18

17

35

10

9

28

38

150

180

24―

50

62

12

―

9

11

83

85

2,942

2,798

0

13

28―

2913

0―

3

1

144―

Total extraordinary losses

147

1

Profit before income taxes

2,824

2,810

Income taxes - current

1,251

1,050

Income taxes - deferred

(109)

(22)

Total income taxes

1,141

1,028

Profit

1,682

1,782

Profit attributable to non-controlling interests

52

49

Profit attributable to owners of parent

1,630

1,732

5

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Wakita & Co. Ltd. published this content on 07 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2022 06:41:01 UTC.