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, 2020 (Based on Japanese GAAP)
April 28, 2020
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, 2020
Scheduled date to file Securities Report:
June 26, 2020
Scheduled date to commence dividend payments:
June 26, 2020
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, 2020 (from April 1, 2019 to March 31, 2020)
(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, 2020
41,231
0.1
9,345
(2.2)
9,520
(4.1)
5,893
(12.9)
Year ended March 31, 2019
41,193
7.0
9,556
4.2
9,924
11.9
6,770
22.1
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, 2020
477.88
-
10.3
14.1
22.7
Year ended March 31, 2019
547.87
-
13.0
16.1
23.2
(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, 2020
70,681
59,453
84.1
4,821.14
As of March 31, 2019
64,627
54,954
85.0
4,452.25
(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, 2020
10,719
(5,272)
1,420
29,114
Year ended March 31, 2019
6,967
(5,691)
(694)
22,448
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, 2019
-
24.00
-
24.00
48.00
592
8.8
1.1
Year ended March 31, 2020
-
26.00
-
26.00
52.00
641
10.9
1.1
Year ending March 31, 2021 (Forecast)
-
28.00
-
28.00
56.00
12.7
3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)
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, 2020
16,500
(18.9)
3,400
(18.1)
3,400
(18.6)
2,300
(19.8)
186.50
Full year
36,500
(11.5)
7,900
(15.5)
7,900
(17.0)
5,450
(7.5)
441.94
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2020 (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, 2020
12,372,000
shares
As of March 31, 2019
12,372,000
shares
Number of treasury shares at the end of the period
Electronically recorded monetary claims - operating
1,476,219
1,295,434
Merchandise and finished goods
3,161,672
2,061,801
Work in process
2,337,293
2,393,622
Raw materials and supplies
4,277,629
2,756,758
Other
1,430,685
1,757,311
Allowance for doubtful accounts
(1,920)
(8,180)
Total current assets
45,575,080
49,133,297
Non-current assets
Property, plant and equipment
Buildings and structures
12,583,053
12,650,214
Accumulated depreciation
(6,512,559)
(6,505,584)
Buildings and structures, net
6,070,494
6,144,629
Machinery, equipment and vehicles
20,957,313
20,998,043
Accumulated depreciation
(16,322,648)
(16,567,320)
Machinery, equipment and vehicles, net
4,634,664
4,430,722
Land
4,003,430
4,421,234
Construction in progress
813,830
3,445,592
Other
4,615,622
3,499,670
Accumulated depreciation
(3,790,482)
(2,898,143)
Other, net
825,140
601,527
Total property, plant and equipment
16,347,560
19,043,706
Intangible assets
Goodwill
249,423
195,975
Other
283,871
254,672
Total intangible assets
533,294
450,648
Investments and other assets
Investment securities
340,439
239,134
Deferred tax assets
644,164
707,858
Investment property
997,257
980,003
Buildings and structures
695,399
695,399
Accumulated depreciation
(396,012)
(412,064)
Buildings and structures, net
299,386
283,334
Land
688,832
688,832
Other
42,067
42,067
Accumulated depreciation
(33,029)
(34,231)
Other, net
9,037
7,835
Other
201,241
130,222
Allowance for doubtful accounts
(11,516)
(3,240)
Total investments and other assets
2,171,586
2,053,978
Total non-current assets
19,052,442
21,548,333
Total assets
64,627,522
70,681,631
(Thousands of yen)
As of March 31, 2019
As of March 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade
2,827,288
1,898,714
Electronically recorded obligations - operating
1,704,169
1,619,355
Short-term borrowings
-
900,000
Income taxes payable
1,590,551
827,864
Provision for bonuses
627,985
608,949
Provision for bonuses for directors (and other officers)
63,000
63,000
Other
2,047,119
3,382,929
Total current liabilities
8,860,114
9,300,813
Non-current liabilities
Long-term borrowings
-
1,200,000
Deferred tax liabilities
452,364
351,419
Other
360,543
375,829
Total non-current liabilities
812,907
1,927,248
Total liabilities
9,673,021
11,228,062
Net assets
Shareholders' equity
Share capital
8,646,720
8,646,720
Capital surplus
11,994,350
11,992,492
Retained earnings
35,249,658
40,526,723
Treasury shares
(188,864)
(239,524)
Total shareholders' equity
55,701,864
60,926,411
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
117,622
70,521
Foreign currency translation adjustment
(864,986)
(1,543,364)
Total accumulated other comprehensive income
(747,363)
(1,472,842)
Total net assets
54,954,500
59,453,569
Total liabilities and net assets
64,627,522
70,681,631
Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
(Thousands of yen)
Fiscal year ended March 31, 2019
Fiscal year ended March 31, 2020
Net sales
41,193,338
41,231,431
Cost of sales
23,264,386
23,685,411
Gross profit
17,928,952
17,546,020
Selling, general and administrative expenses
8,372,881
8,200,209
Operating profit
9,556,071
9,345,810
Non-operating income
Interest income
35,322
65,785
Rental income
79,282
94,361
Foreign exchange gains
219,615
45,346
Other
97,381
34,405
Total non-operating income
431,602
239,899
Non-operating expenses
Interest expenses
-
305
Rent expenses on real estate for investments
48,361
49,924
Bad debts expenses
-
6,636
Other
14,927
8,576
Total non-operating expenses
63,289
65,443
Ordinary profit
9,924,383
9,520,266
Extraordinary income
Gain on sales of non-current assets
4,042
29,529
Gain on sales of investment securities
3,469
11,986
Settlement received
-
100,000
Total extraordinary income
7,511
141,515
Extraordinary losses
Loss on sales and retirement of non-current assets
6,374
77,797
Loss on valuation of investment securities
-
27,510
Loss on liquidation of business
-
773,648
Retirement benefit expenses
51,447
-
Other
-
86,461
Total extraordinary losses
57,821
965,418
Profit before income taxes
9,874,073
8,696,363
Income taxes - current
3,139,919
2,928,470
Income taxes - deferred
(35,928)
(126,034)
Total income taxes
3,103,991
2,802,435
Profit
6,770,081
5,893,928
Profit attributable to owners of parent
6,770,081
5,893,928
Consolidated statements of comprehensive income
(Thousands of yen)
Fiscal year ended March 31, 2019
Fiscal year ended March 31, 2020
Profit
6,770,081
5,893,928
Other comprehensive income
Valuation difference on available-for-sale securities
(48,782)
(47,101)
Foreign currency translation adjustment
(113,902)
(678,378)
Total other comprehensive income
(162,684)
(725,479)
Comprehensive income
6,607,396
5,168,449
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
6,607,396
5,168,449
Consolidated statements of changes in equity
Fiscal year ended March 31, 2019
(Thousands of yen)
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of period
8,646,720
11,996,407
29,048,238
(77,131)
49,614,235
Changes 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 in items other than shareholders' equity
Total changes during period
-
(2,057)
6,201,420
(111,733)
6,087,629
Balance at end of 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 period
166,404
(751,083)
(584,678)
49,029,556
Changes 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 in items other than shareholders' equity
(48,782)
(113,902)
(162,684)
(162,684)
Total changes during period
(48,782)
(113,902)
(162,684)
5,924,944
Balance at end of period
117,622
(864,986)
(747,363)
54,954,500
Fiscal year ended March 31, 2020
(Thousands of yen)
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of period
8,646,720
11,994,350
35,249,658
(188,864)
55,701,864
Changes during period
Dividends of surplus
(616,862)
(616,862)
Profit attributable to owners of parent
5,893,928
5,893,928
Purchase of treasury shares
(62,577)
(62,577)
Disposal of treasury shares
(1,857)
11,917
10,060
Net changes in items other than shareholders' equity
Total changes during period
-
(1,857)
5,277,065
(50,660)
5,224,547
Balance at end of period
8,646,720
11,992,492
40,526,723
(239,524)
60,926,411
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 period
117,622
(864,986)
(747,363)
54,954,500
Changes during period
Dividends of surplus
(616,862)
Profit attributable to owners of parent
5,893,928
Purchase of treasury shares
(62,577)
Disposal of treasury shares
10,060
Net changes in items other than shareholders' equity
(47,101)
(678,378)
(725,479)
(725,479)
Total changes during period
(47,101)
(678,378)
(725,479)
4,499,068
Balance at end of period
70,521
(1,543,364)
(1,472,842)
59,453,569
Consolidated statements of cash flows
(Thousands of yen)
Fiscal year ended March 31, 2019
Fiscal year ended March 31, 2020
Cash flows from operating activities
Profit before income taxes
9,874,073
8,696,363
Loss on liquidation of business
-
773,648
Depreciation
2,059,593
2,319,896
Amortization of goodwill
17,815
53,447
Increase (decrease) in retirement benefit liability
(53,456)
-
Increase (decrease) in allowance for doubtful accounts
(1,571)
(2,015)
Increase (decrease) in provision for environmental measures
(3,436)
-
Loss (gain) on sales of investment securities
(3,469)
(11,986)
Loss (gain) on valuation of investment securities
-
27,510
Loss (gain) on sales and retirement of non-current assets
2,332
48,268
Interest and dividend income
(71,583)
(71,699)
Interest expenses
-
305
Foreign exchange losses (gains)
(97,148)
(7,174)
Decrease (increase) in trade receivables
(333,772)
762,701
Decrease (increase) in inventories
(1,455,567)
2,084,047
Increase (decrease) in trade payables
706,459
(1,016,862)
Other, net
(128,574)
716,742
Subtotal
10,511,694
14,373,193
Interest and dividends received
71,576
71,695
Interest paid
-
(305)
Income taxes paid
(3,615,982)
(3,725,511)
Net cash provided by (used in) operating activities
6,967,287
10,719,072
Cash flows from investing activities
Net decrease (increase) in time deposits
13,794
(40,710)
Purchase of property, plant and equipment
(4,320,988)
(5,408,367)
Proceeds from sales of property, plant and equipment
18,459
156,643
Purchase of investment securities
(10,152)
(4,043)
Proceeds from sales of investment securities
9,473
32,504
Purchase of intangible assets
(58,791)
(32,104)
Payments for acquisition of businesses
(1,603,834)
-
Other, net
260,967
23,591
Net cash provided by (used in) investing activities
(5,691,072)
(5,272,485)
Cash flows from financing activities
Proceeds from short-term borrowings
-
900,000
Proceeds from long-term borrowings
-
1,200,000
Purchase of treasury shares
(125,731)
(62,577)
Dividends paid
(568,661)
(616,862)
Net cash provided by (used in) financing activities
(694,392)
1,420,559
Effect of exchange rate change on cash and cash equivalents
67,098
(200,924)
Net increase (decrease) in cash and cash equivalents
648,921
6,666,221
Cash and cash equivalents at beginning of period
21,799,447
22,448,368
Cash and cash equivalents at end of period
22,448,368
29,114,590
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
FR VVLBLBZLEBBB
