WARABEYA NICHIYO HOLDINGS CO., LTD. Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Three Months Ended May 31, 2022 (Based on Japanese GAAP)
July 6, 2022 | |||||||||||||
Company name: | WARABEYA NICHIYO HOLDINGS CO., LTD. | ||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||
Stock code: | 2918 | URL | https://www.warabeya.co.jp/ja/index.html | ||||||||||
Representative: | Representative Director, President | Hideo Tsuji | |||||||||||
Inquiries: | Director, Senior Managing Executive Officer | Naoshi Asano | TEL 03-5363-7010 | ||||||||||
Scheduled date to file Quarterly Securities Report: | July 7, 2022 | ||||||||||||
Scheduled date to commence dividend payments: | - | ||||||||||||
Preparation of supplementary material on quarterly financial results: | No | ||||||||||||
Holding of quarterly financial results meeting: | No | ||||||||||||
(Amounts less than one million yen are rounded down) | |||||||||||||
1. Consolidated financial results for the three months ended May 31, 2022 (from March 1, 2022 to May 31, 2022) | |||||||||||||
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||
owners of parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
Three months ended May 31, 2022 | 47,414 | 0.8 | 1,694 | 25.0 | 1,658 | 16.3 | 1,271 | 67.0 | |||||
Three months ended May 31, 2021 | 47,058 | 1.6 | 1,355 | 529.5 | 1,426 | 472.2 | 761 | 706.6 | |||||
(Note) Comprehensive income: | Three months ended May 31, 2022: ¥1,710 million [33.0%] | ||||||||||||
Three months ended May 31, 2021: ¥1,285 million [-%] | |||||||||||||
Earnings per share | Diluted earnings per share | ||||||||||||
Yen | Yen | ||||||||||||
Three months ended May 31, 2022 | 72.82 | - | |||||||||||
Three months ended May 31, 2021 | 43.64 | - | |||||||||||
(Note) The Company started to adopt the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29 March 31, 2020), etc. at the beginning of the first quarter of the consolidated fiscal year under review. The figures for the first quarter of the fiscal year ending February 28, 2023 are those after the application of the said accounting standard, etc.
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of May 31, 2022 | 87,665 | 49,208 | 55.1 | ||
As of February 28, 2022 | 82,184 | 47,901 | 57.9 | ||
(Reference) Equity capital: | As of May 31, 2022: ¥48,327 million | ||||
As of February 28, 2022: ¥47,564 million |
(Note) The Company started to adopt the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29 March 31, 2020), etc. at the beginning of the first quarter of the consolidated fiscal year under review. The figures for the first quarter of the fiscal year ending February 28, 2023 are those after the application of the said accounting standard, etc.
2. Cash dividends
Annual dividends per share | |||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |
Yen | Yen | Yen | Yen | Yen | |
Year ended February 28, 2022 | - | 0.00 | - | 50.00 | 50.00 |
Year ending February 28, 2023 | - | ||||
Year ending February 28, 2023 (Forecast) | 0.00 | - | 50.00 | 50.00 | |
(Note) Revisions to the most recently announced dividends forecasts: None
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3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
(Percentages indicate year-on-year changes)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending | 96,700 | 0.7 | 2,600 | (18.6) | 2,750 | (30.0) | 1,750 | (28.1) | 100.20 |
August 31, 2022 | |||||||||
Full year | 194,000 | 0.9 | 4,500 | 1.3 | 4,750 | (5.7) | 3,000 | (8.1) | 171.78 |
(Note) 1. Revisions to the most recently announced financial forecasts: None
2. The Company started to adopt the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29 March 31, 2020), etc. at the beginning of the first quarter of the consolidated fiscal year under review. The above forecasts for consolidated financial results reflect figures compiled after the application of the said accounting standard, etc.
* Notes | |||
(1) | Changes in significant subsidiaries during the three months ended May 31, 2022 | No | |
(changes in specified subsidiaries resulting in the change in scope of consolidation): | |||
Newly consolidated: - | Excluded: - | ||
(2) | Application of special accounting methods for preparing quarterly consolidated financial statements: | No |
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2022 | 17,625,660 | shares | As of February 28, 2022 | 17,625,660 | shares | |
Number of treasury shares at the end of the period | ||||||
As of May 31, 2022 | 161,363 | shares | As of February 28, 2022 | 161,323 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended May 31, 2022 | 17,464,328 | shares | Three months ended May 31, 2021 | 17,454,293 | shares | |
(Note) The Company has established a BIP Trust. Shares of the Company held by the trust are included in treasury shares. |
- This financial summary document is outside the scope of quarterly review conducted by certified public accountants or an audit corporation.
-
Explanation of appropriate use of forecasts of financial results, and other important items:
Financial forecasts and other forward-looking statements in this document are based on information available at the time of preparation and on certain assumptions that are deemed to be reasonable. These forward-looking statements are not guarantees of future performance and actual results may differ materially from these forecasts due to a variety of reasons.
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Quarterly consolidated financial statements
(1) Consolidated balance sheets
(Millions of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 9,671 | 13,341 | |
Notes and accounts receivable - trade | 15,427 | 16,461 | |
Merchandise and finished goods | 1,256 | 1,853 | |
Raw materials and supplies | 1,607 | 1,671 | |
Other | 1,505 | 1,431 | |
Allowance for doubtful accounts | - | (0) | |
Total current assets | 29,467 | 34,759 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 55,349 | 55,686 | |
Accumulated depreciation | (33,153) | (33,676) | |
Buildings and structures, net | 22,196 | 22,010 | |
Machinery, equipment and vehicles | 19,383 | 19,583 | |
Accumulated depreciation | (15,223) | (15,409) | |
Machinery, equipment and vehicles, net | 4,160 | 4,173 | |
Land | 11,913 | 11,852 | |
Construction in progress | 440 | 899 | |
Other | 13,231 | 12,518 | |
Accumulated depreciation | (7,565) | (7,048) | |
Other, net | 5,665 | 5,470 | |
Total property, plant and equipment | 44,376 | 44,407 | |
Intangible assets | |||
Goodwill | 73 | 51 | |
Other | 372 | 349 | |
Total intangible assets | 445 | 401 | |
Investments and other assets | |||
Other | 8,016 | 8,216 | |
Allowance for doubtful accounts | (121) | (119) | |
Total investments and other assets | 7,895 | 8,097 | |
Total non-current assets | 52,716 | 52,905 | |
Total assets | 82,184 | 87,665 | |
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(Millions of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 9,251 | 9,495 | |
Current portion of long-term borrowings | 628 | 913 | |
Accounts payable - other | 7,668 | 6,698 | |
Income taxes payable | 349 | 716 | |
Provision for bonuses | 1,194 | 1,771 | |
Provision for bonuses for directors (and other officers) | - | 27 | |
Other | 2,447 | 2,751 | |
Total current liabilities | 21,539 | 22,374 | |
Non-current liabilities | |||
Long-term borrowings | 1,995 | 5,544 | |
Lease obligations | 4,857 | 4,623 | |
Retirement benefit liability | 3,972 | 3,976 | |
Provision for Directors stock-based rewards | 188 | 199 | |
Asset retirement obligations | 1,419 | 1,424 | |
Other | 310 | 312 | |
Total non-current liabilities | 12,744 | 16,081 | |
Total liabilities | 34,283 | 38,456 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 8,049 | 8,049 | |
Capital surplus | 8,100 | 8,100 | |
Retained earnings | 31,253 | 31,644 | |
Treasury shares | (334) | (335) | |
Total shareholders' equity | 47,068 | 47,459 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 216 | 193 | |
Deferred gains or losses on hedges | 0 | 4 | |
Foreign currency translation adjustment | 393 | 767 | |
Remeasurements of defined benefit plans | (113) | (97) | |
Total accumulated other comprehensive income | 496 | 868 | |
Non-controlling interests | 336 | 881 | |
Total net assets | 47,901 | 49,208 | |
Total liabilities and net assets | 82,184 | 87,665 | |
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- Consolidated statements of income and comprehensive income Consolidated statements of income
(Millions of yen) | |||
Three months ended | Three months ended | ||
May 31, 2021 | May 31, 2022 | ||
Net sales | 47,058 | 47,414 | |
Cost of sales | 38,721 | 38,773 | |
Gross profit | 8,337 | 8,641 | |
Selling, general and administrative expenses | 6,982 | 6,947 | |
Operating profit | 1,355 | 1,694 | |
Non-operating income | |||
Interest income | 1 | 1 | |
Dividend income | 2 | 2 | |
Rental income | 43 | 48 | |
Subsidy income | 27 | 22 | |
Share of profit of entities accounted for using equity method | 22 | - | |
Other | 52 | 29 | |
Total non-operating income | 150 | 106 | |
Non-operating expenses | |||
Interest expenses | 23 | 39 | |
Rental costs | 35 | 41 | |
Share of loss of entities accounted for using equity method | - | 48 | |
Other | 19 | 11 | |
Total non-operating expenses | 78 | 141 | |
Ordinary profit | 1,426 | 1,658 | |
Extraordinary income | |||
Gain on sale of businesses | - | 500 | |
Total extraordinary income | - | 500 | |
Extraordinary losses | |||
Impairment losses | 191 | 143 | |
Total extraordinary losses | 191 | 143 | |
Profit before income taxes | 1,235 | 2,014 | |
Income taxes - current | 630 | 906 | |
Income taxes - deferred | (180) | (201) | |
Total income taxes | 450 | 704 | |
Profit | 784 | 1,310 | |
Profit attributable to non-controlling interests | 22 | 38 | |
Profit attributable to owners of parent | 761 | 1,271 | |
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WARABEYA NICHIYO Holdings 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 08 July 2022 08:13:00 UTC.
