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 Year Ended March 31, 2019 (Based on Japanese GAAP)
April 26, 2019
Company name:
MARUWA CO., LTD.
Stock exchange listing:
Tokyo, Nagoya
Stock code:
5344
URL https://www.maruwa-g.com/
Representative:
President and Representative Director
Sei Kanbe
Inquiries:
Director, General Manager of Administrative Division
Tamaki Nozoki
TEL 0561-51-0839
Scheduled date of ordinary general meeting of shareholders:
June 25, 2019
Scheduled date to file Securities Report:
June 26, 2019
Scheduled date to commence dividend payments:
June 26, 2019
Preparation of supplementary material on financial results:
No
Holding of financial results meeting:
No
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2019 (from April 1, 2018 to March 31, 2019)
(1) Consolidated operating results
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
%
Year ended March 31, 2019
41,193
7.0
9,556
4.2
9,924
11.9
6,770
22.1
Year ended March 31, 2018
38,513
19.7
9,174
85.2
8,866
78.1
5,544
94.5
Earnings per share
Diluted earnings per share
Profit attributable to owners of parent/equity
Ordinary profit/total assets
Operating profit/net sales
Yen
Yen
%
%
%
Year ended March 31, 2019
547.87
-
13.0
16.1
23.2
Year ended March 31, 2018
448.44
-
12.0
16.2
23.8
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
As of March 31, 2019
64,627
54,954
85.0
4,452.25
As of March 31, 2018
58,514
49,029
83.8
3,966.05
(3) Consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Year ended March 31, 2019
6,967
(5,691)
(694)
22,448
Year ended March 31, 2018
7,544
(2,851)
(668)
21,799
2. Cash dividends
Annual dividends per share
Total cash dividends (Total)
Dividend payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Year ended March 31, 2018
-
22.00
-
22.00
44.00
544
9.8
1.2
Year ended March 31, 2019
-
24.00
-
24.00
48.00
592
8.8
1.1
Year ending March 31, 2020 (Forecast)
-
26.00
-
26.00
52.00
12.1
3. Forecast of consolidated financial results for the year ending March 31, 2020 (from April 1, 2019 to March 31, 2020)
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Earnings per share
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Yen
Six months ending September 30, 2019
18,000
(7.5)
3,450
(21.9)
3,450
(27.4)
2,350
(27.3)
190.39
Full year
38,000
(7.8)
7,800
(18.4)
7,800
(21.4)
5,300
(21.7)
429.39
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2019 (changes in specified subsidiaries resulting in the change in scope of consolidation):
No
(2) 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:
No
Changes in accounting policies due to other reasons:
No
Changes in accounting estimates:
No
Restatement of prior period financial statements:
No
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2019
12,372,000
shares
As of March 31, 2018
12,372,000
shares
Number of treasury shares at the end of the period
Electronically recorded monetary claims - operating
1,047,980
1,476,219
Merchandise and finished goods
2,220,883
3,161,672
Work in process
1,817,145
2,337,293
Raw materials and supplies
3,630,476
4,277,629
Other
1,171,284
1,430,685
Allowance for doubtful accounts
(1,670)
(1,920)
Total current assets
41,670,803
45,575,080
Non-current assets
Property, plant and equipment
Buildings and structures
11,159,776
12,583,053
Accumulated depreciation
(6,133,121)
(6,512,559)
Buildings and structures, net
5,026,654
6,070,494
Machinery, equipment and vehicles
19,595,623
20,957,313
Accumulated depreciation
(15,542,570)
(16,322,648)
Machinery, equipment and vehicles, net
4,053,052
4,634,664
Land
3,943,218
4,003,430
Construction in progress
389,265
813,830
Other
4,163,793
4,615,622
Accumulated depreciation
(3,483,672)
(3,790,482)
Other, net
680,121
825,140
Total property, plant and equipment
14,092,312
16,347,560
Intangible assets
Goodwill
-
249,423
Other
274,885
283,871
Total intangible assets
274,885
533,294
Investments and other assets
Investment securities
404,300
340,439
Deferred tax assets
582,986
644,164
Real estate for investment
1,002,008
997,257
Buildings and structures
681,619
695,399
Accumulated depreciation
(378,919)
(396,012)
Buildings and structures, net
302,699
299,386
Land
688,832
688,832
Other
42,204
42,067
Accumulated depreciation
(31,728)
(33,029)
Other, net
10,476
9,037
Other
500,715
201,241
Allowance for doubtful accounts
(13,337)
(11,516)
Total investments and other assets
2,476,673
2,171,586
Total non-current assets
16,843,870
19,052,442
Total assets
58,514,674
64,627,522
(Thousands of yen)
As of March 31, 2018
As of March 31, 2019
Liabilities
Current liabilities
Notes and accounts payable - trade
2,428,784
2,827,288
Electronically recorded obligations - operating
1,456,612
1,704,169
Income taxes payable
2,061,684
1,590,551
Provision for bonuses
542,637
627,985
Provision for bonuses for directors (and other officers)
63,000
63,000
Provision for environmental measures
3,436
-
Other
2,079,222
2,047,119
Total current liabilities
8,635,378
8,860,114
Non-current liabilities
Deferred tax liabilities
449,309
452,364
Retirement benefit liability
82,126
-
Other
318,304
360,543
Total non-current liabilities
849,740
812,907
Total liabilities
9,485,118
9,673,021
Net assets
Shareholders' equity
Capital stock
8,646,720
8,646,720
Capital surplus
11,996,407
11,994,350
Retained earnings
29,048,238
35,249,658
Treasury shares
(77,131)
(188,864)
Total shareholders' equity
49,614,235
55,701,864
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
166,404
117,622
Foreign currency translation adjustment
(751,083)
(864,986)
Total accumulated other comprehensive income
(584,678)
(747,363)
Total net assets
49,029,556
54,954,500
Total liabilities and net assets
58,514,674
64,627,522
Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
(Thousands of yen)
Fiscal year ended March 31, 2018
Fiscal year ended March 31, 2019
Net sales
38,513,051
41,193,338
Cost of sales
21,928,997
23,264,386
Gross profit
16,584,054
17,928,952
Selling, general and administrative expenses
7,410,006
8,372,881
Operating profit
9,174,047
9,556,071
Non-operating income
Interest income
31,913
35,322
Rent income
74,663
79,282
Foreign exchange gains
-
219,615
Other
71,535
97,381
Total non-operating income
178,112
431,602
Non-operating expenses
Interest expenses
7
-
Foreign exchange losses
381,723
-
Rent expenses on real estate for investments
48,668
48,361
Other
55,198
14,927
Total non-operating expenses
485,599
63,289
Ordinary profit
8,866,561
9,924,383
Extraordinary income
Gain on sales of non-current assets
8,183
4,042
Gain on sales of investment securities
-
3,469
Gain on bargain purchase
8,199
-
Total extraordinary income
16,383
7,511
Extraordinary losses
Loss on sales and retirement of non-current assets
275,905
6,374
Loss on liquidation of business
100,493
-
Retirement benefit expenses
35,555
51,447
Other
14,356
-
Total extraordinary losses
426,310
57,821
Profit before income taxes
8,456,634
9,874,073
Income taxes - current
2,765,956
3,139,919
Income taxes - deferred
146,186
(35,928)
Total income taxes
2,912,142
3,103,991
Profit
5,544,491
6,770,081
Profit attributable to owners of parent
5,544,491
6,770,081
Consolidated statements of comprehensive income
(Thousands of yen)
Fiscal year ended March 31, 2018
Fiscal year ended March 31, 2019
Profit
5,544,491
6,770,081
Other comprehensive income
Valuation difference on available-for-sale securities
45,225
(48,782)
Foreign currency translation adjustment
629,410
(113,902)
Total other comprehensive income
674,635
(162,684)
Comprehensive income
6,219,127
6,607,396
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
6,219,127
6,607,396
Consolidated statements of changes in equity
Fiscal year ended March 31, 2018
(Thousands of yen)
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of current period
8,646,720
11,948,946
24,022,962
(42,051)
44,576,578
Changes of items during period
Dividends of surplus
(519,215)
(519,215)
Profit attributable to owners of parent
5,544,491
5,544,491
Purchase of treasury shares
(126,068)
(126,068)
Disposal of treasury shares
47,461
90,988
138,450
Net changes of items other than shareholders' equity
Total changes of items during period
-
47,461
5,025,275
(35,079)
5,037,657
Balance at end of current period
8,646,720
11,996,407
29,048,238
(77,131)
49,614,235
Accumulated other comprehensive income
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Balance at beginning of current period
121,179
(1,380,493)
(1,259,314)
43,317,263
Changes of items during period
Dividends of surplus
(519,215)
Profit attributable to owners of parent
5,544,491
Purchase of treasury shares
(126,068)
Disposal of treasury shares
138,450
Net changes of items other than shareholders' equity
45,225
629,410
674,635
674,635
Total changes of items during period
45,225
629,410
674,635
5,712,292
Balance at end of current period
166,404
(751,083)
(584,678)
49,029,556
Fiscal year ended March 31, 2019
(Thousands of yen)
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of current period
8,646,720
11,996,407
29,048,238
(77,131)
49,614,235
Changes of items during period
Dividends of surplus
(568,661)
(568,661)
Profit attributable to owners of parent
6,770,081
6,770,081
Purchase of treasury shares
(125,731)
(125,731)
Disposal of treasury shares
(2,057)
13,997
11,940
Net changes of items other than shareholders' equity
Total changes of items during period
-
(2,057)
6,201,420
(111,733)
6,087,629
Balance at end of current period
8,646,720
11,994,350
35,249,658
(188,864)
55,701,864
Accumulated other comprehensive income
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Balance at beginning of current period
166,404
(751,083)
(584,678)
49,029,556
Changes of items during period
Dividends of surplus
(568,661)
Profit attributable to owners of parent
6,770,081
Purchase of treasury shares
(125,731)
Disposal of treasury shares
11,940
Net changes of items other than shareholders' equity
(48,782)
(113,902)
(162,684)
(162,684)
Total changes of items during period
(48,782)
(113,902)
(162,684)
5,924,944
Balance at end of current period
117,622
(864,986)
(747,363)
54,954,500
Consolidated statements of cash flows
(Thousands of yen)
Fiscal year ended March 31, 2018
Fiscal year ended March 31, 2019
Cash flows from operating activities
Profit before income taxes
8,456,634
9,874,073
Loss on liquidation of business
100,493
-
Depreciation
1,846,113
2,059,593
Amortization of goodwill
20,740
17,815
Gain on bargain purchase
(8,199)
-
Increase (decrease) in retirement benefit liability
(35,543)
(53,456)
Increase (decrease) in allowance for doubtful accounts
(43,130)
(1,571)
Increase (decrease) in provision for environmental measures
(10,090)
(3,436)
Loss (gain) on sales of investment securities
-
(3,469)
Loss (gain) on sales and retirement of non-current assets
267,721
2,332
Interest and dividend income
(38,138)
(71,583)
Foreign exchange losses (gains)
120,094
(97,148)
Decrease (increase) in notes and accounts receivable - trade
(1,214,351)
(333,772)
Decrease (increase) in inventories
(609,592)
(1,455,567)
Increase (decrease) in notes and accounts payable - trade
267,349
706,459
Other, net
220,713
(128,574)
Subtotal
9,340,815
10,511,694
Interest and dividend income received
38,138
71,576
Interest expenses paid
(7)
-
Income taxes paid
(1,834,517)
(3,615,982)
Net cash provided by (used in) operating activities
7,544,428
6,967,287
Cash flows from investing activities
Net decrease (increase) in time deposits
(5,216)
13,794
Purchase of property, plant and equipment
(2,671,422)
(4,320,988)
Proceeds from sales of property, plant and equipment
13,753
18,459
Purchase of investment securities
(4,175)
(10,152)
Proceeds from sales of investment securities
-
9,473
Purchase of intangible assets
(31,443)
(58,791)
Purchase of shares of subsidiaries
(24,759)
-
Payments for acquisition of businesses
(130,272)
(1,603,834)
Other, net
1,969
260,967
Net cash provided by (used in) investing activities
(2,851,565)
(5,691,072)
Cash flows from financing activities
Repayments of long-term loans payable
(22,800)
-
Purchase of treasury shares
(126,068)
(125,731)
Cash dividends paid
(519,215)
(568,661)
Net cash provided by (used in) financing activities
(668,084)
(694,392)
Effect of exchange rate change on cash and cash equivalents
(59,338)
67,098
Net increase (decrease) in cash and cash equivalents
3,965,439
648,921
Cash and cash equivalents at beginning of period
17,834,008
21,799,447
Cash and cash equivalents at end of period
21,799,447
22,448,368
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FR KQLBLKZFXBBE
