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 Six Months Ended September 30, 2018 (Based on Japanese GAAP)
October 30, 2018
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 to file Quarterly Securities Report:
November 9, 2018
Scheduled date to commence dividend payments:
December 10, 2018
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 six months ended September 30, 2018 (from April 1, 2018 to September 30, 2018)
(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
%
Six months ended September 30, 2018
19,454
11.5
4,419
13.4
4,750
19.4
3,233
22.4
Six months ended September 30, 2017
17,454
15.1
3,898
69.1
3,979
96.3
2,641
129.3
Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2018
261.53
-
Six months ended September 30, 2017
213.78
-
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2018
61,038
51,956
85.1
As of March 31, 2018
58,514
49,029
83.8
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 March 31, 2018
-
22.00
-
22.00
44.00
Year ending March 31, 2019
-
24.00
Year ending March 31, 2019 (Forecast)
-
24.00
48.00
3. Forecast of consolidated financial results for the year ending March 31, 2019 (from April 1, 2018 to March 31, 2019)
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
Full year
40,300
4.6
9,800
6.8
9,850
11.1
6,550
18.1
529.83
4. Notes
(1) Changes in significant subsidiaries during the six months ended September 30, 2018 (changes in specified subsidiaries resulting in the change in scope of consolidation):
No
(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:
No
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 September 30, 2018
12,372,000
shares
As of March 31, 2018
12,372,000
shares
Number of treasury shares at the end of the period
As of September 30, 2018
9,876
shares
As of March 31, 2018
9,702
shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Electronically recorded monetary claims - operating
1,047,980
1,199,056
Merchandise and finished goods
2,220,883
2,841,026
Work in process
1,817,145
1,859,155
Raw materials and supplies
3,630,476
3,781,437
Other
1,171,284
874,017
Allowance for doubtful accounts
(1,670)
(1,410)
Total current assets
41,670,803
43,759,529
Non-current assets
Property, plant and equipment
Buildings and structures
11,159,776
11,549,622
Accumulated depreciation
(6,133,121)
(6,329,088)
Buildings and structures, net
5,026,654
5,220,534
Machinery, equipment and vehicles
19,595,623
20,345,720
Accumulated depreciation
(15,542,570)
(16,116,425)
Machinery, equipment and vehicles, net
4,053,052
4,229,295
Land
3,943,218
3,943,484
Construction in progress
389,265
695,301
Other
4,163,793
4,431,655
Accumulated depreciation
(3,483,672)
(3,668,691)
Other, net
680,121
762,964
Total property, plant and equipment
14,092,312
14,851,579
Intangible assets
Other
274,885
281,315
Total intangible assets
274,885
281,315
Investments and other assets
2,476,673
2,146,192
Total non-current assets
16,843,870
17,279,086
Total assets
58,514,674
61,038,615
(Thousands of yen)
As of March 31, 2018
As of September 30, 2018
Liabilities
Current liabilities
Notes and accounts payable - trade
2,428,784
2,380,240
Electronically recorded obligations - operating
1,456,612
1,667,123
Income taxes payable
2,061,684
1,387,519
Provision for bonuses
542,637
614,364
Provision for directors' bonuses
63,000
7,000
Provision for environmental measures
3,436
-
Other
2,079,222
2,176,311
Total current liabilities
8,635,378
8,232,560
Non-current liabilities
Deferred tax liabilities
449,309
480,740
Net defined benefit liability
82,126
41,983
Other
318,304
326,717
Total non-current liabilities
849,740
849,441
Total liabilities
9,485,118
9,082,002
Net assets
Shareholders' equity
Capital stock
8,646,720
8,646,720
Capital surplus
11,996,407
11,996,407
Retained earnings
29,048,238
32,009,397
Treasury shares
(77,131)
(78,637)
Total shareholders' equity
49,614,235
52,573,887
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
166,404
150,100
Foreign currency translation adjustment
(751,083)
(767,374)
Total accumulated other comprehensive income
(584,678)
(617,273)
Total net assets
49,029,556
51,956,613
Total liabilities and net assets
58,514,674
61,038,615
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen)
Six months ended September 30, 2017
Six months ended September 30, 2018
Net sales
17,454,887
19,454,451
Cost of sales
9,994,317
11,047,244
Gross profit
7,460,570
8,407,206
Selling, general and administrative expenses
3,562,454
3,987,551
Operating profit
3,898,116
4,419,655
Non-operating income
Interest income
12,810
13,184
Rent income
38,832
38,518
Foreign exchange gains
39,693
257,184
Other
14,276
56,322
Total non-operating income
105,612
365,209
Non-operating expenses
Interest expenses
7
-
Rent expenses on real estate for investments
20,089
27,451
Other
4,115
6,965
Total non-operating expenses
24,212
34,417
Ordinary profit
3,979,516
4,750,446
Extraordinary income
Gain on sales of non-current assets
7,760
2,947
Gain on sales of investment securities
-
3,469
Total extraordinary income
7,760
6,416
Extraordinary losses
Loss on sales and retirement of non-current assets
55,620
1,577
Loss on liquidation of business
73,106
-
Retirement benefit expenses
-
11,437
Total extraordinary losses
128,726
13,014
Profit before income taxes
3,858,550
4,743,848
Income taxes - current
1,163,720
1,437,390
Income taxes - deferred
52,839
73,329
Total income taxes
1,216,560
1,510,719
Profit
2,641,990
3,233,129
Profit attributable to owners of parent
2,641,990
3,233,129
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
Six months ended September 30, 2017
Six months ended September 30, 2018
Profit
2,641,990
3,233,129
Other comprehensive income
Valuation difference on available-for-sale securities
43,658
(16,303)
Foreign currency translation adjustment
402,856
(16,291)
Total other comprehensive income
446,514
(32,595)
Comprehensive income
3,088,505
3,200,534
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
3,088,505
3,200,534
Consolidated statements of cash flows
(Thousands of yen)
Six months ended September 30, 2017
Six months ended September 30, 2018
Cash flows from operating activities
Profit before income taxes
3,858,550
4,743,848
Depreciation
864,388
949,949
Loss on liquidation of business
73,106
-
Amortization of goodwill
13,827
-
Increase (decrease) in allowance for doubtful accounts
196
(624)
Increase (decrease) in provision for environmental measures
-
(3,436)
Loss (gain) on sales of investment securities
-
(3,469)
Loss (gain) on sales and retirement of non-current assets
47,859
(1,370)
Increase (decrease) in net defined benefit liability
-
(40,142)
Interest and dividend income
(15,439)
(46,660)
Foreign exchange losses (gains)
(1,986)
(84,723)
Decrease (increase) in notes and accounts receivable - trade
(482,552)
578,790
Decrease (increase) in inventories
(590,714)
(820,210)
Increase (decrease) in notes and accounts payable - trade
(160,228)
(158,961)
Other, net
272,781
395,665
Subtotal
3,879,788
5,508,654
Interest and dividend income received
15,439
46,654
Interest expenses paid
(7)
-
Income taxes paid
(908,579)
(2,063,456)
Net cash provided by (used in) operating activities
2,986,641
3,491,852
Cash flows from investing activities
Net decrease (increase) in time deposits
(87,882)
13,832
Purchase of property, plant and equipment
(1,079,555)
(1,391,537)
Proceeds from sales of property, plant and equipment
14,054
6,007
Purchase of investment securities
(1,996)
(8,148)
Proceeds from sales of investment securities
-
9,469
Purchase of intangible assets
(12,545)
(30,390)
Purchase of shares of subsidiaries
(24,003)
-
Other, net
(2,188)
258,057
Net cash provided by (used in) investing activities
(1,194,118)
(1,142,709)
Cash flows from financing activities
Repayments of long-term loans payable
(22,800)
-
Purchase of treasury shares
(51,066)
(1,506)
Cash dividends paid
(247,047)
(271,970)
Net cash provided by (used in) financing activities
(320,913)
(273,477)
Effect of exchange rate change on cash and cash equivalents
39,770
84,519
Net increase (decrease) in cash and cash equivalents
1,511,379
2,160,185
Cash and cash equivalents at beginning of period
17,834,008
21,799,447
Cash and cash equivalents at end of period
19,345,387
23,959,633
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