Maruwa Co Ld - Half-year Report

Maruwa Co

28/10/2020 09:20

RNS Number : 4665D

Maruwa Co Ld

28 October 2020

 

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 Six Months Ended September 30, 2020
(Based on Japanese GAAP)
October 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:
Executive Officer
Tamaki Nozoki
TEL 0561-51-0839
Scheduled date to file Quarterly Securities Report:
November 9, 2020
Scheduled date to commence dividend payments:
December 4, 2020
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, 2020 (from April 1, 2020 to September 30, 2020)

(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, 2020
19,533
(4.0)
4,685
12.9
4,644
11.2
3,154
10.0
Six months ended September 30, 2019
20,340
4.6
4,148
(6.1)
4,176
(12.1)
2,868
(11.3)

 

 

Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2020
255.80
-
Six months ended September 30, 2019
232.51
-

 

(2) Consolidated financial position

Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2020
74,181
62,464
84.2
As of March 31, 2020
70,681
59,453
84.1

 

 

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, 2020
-
26.00
-
26.00
52.00
Year ending March 31, 2021
-
28.00
Year ending March 31, 2021 (Forecast)
-
28.00
56.00

 

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
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 six months ended September 30, 2020
(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, 2020
12,372,000
shares
As of March 31, 2020
12,372,000
shares

Number of treasury shares at the end of the period

As of September 30, 2020
38,198
shares
As of March 31, 2020
40,163
shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2020
12,332,859
shares
Six months ended September 30, 2019
12,334,929
shares

 

 

Quarterly consolidated financial statements

Consolidated balance sheets

(Thousands of yen)
As of March 31, 2020
As of September 30, 2020
Assets
Current assets
Cash and deposits
29,334,349
32,791,077
Notes and accounts receivable - trade
9,542,199
8,555,814
Electronically recorded monetary claims - operating
1,295,434
1,201,831
Merchandise and finished goods
2,061,801
1,785,452
Work in process
2,393,622
2,475,917
Raw materials and supplies
2,756,758
2,511,785
Other
1,757,311
1,365,837
Allowance for doubtful accounts
(8,180)
(7,959)
Total current assets
49,133,297
50,679,756
Non-current assets
Property, plant and equipment
Buildings and structures
12,650,214
12,724,294
Accumulated depreciation
(6,505,584)
(6,695,078)
Buildings and structures, net
6,144,629
6,029,215
Machinery, equipment and vehicles
20,998,043
21,274,287
Accumulated depreciation
(16,567,320)
(16,750,753)
Machinery, equipment and vehicles, net
4,430,722
4,523,534
Land
4,421,234
4,487,945
Construction in progress
3,445,592
5,737,976
Other
3,499,670
3,618,608
Accumulated depreciation
(2,898,143)
(3,050,865)
Other, net
601,527
567,742
Total property, plant and equipment
19,043,706
21,346,414
Intangible assets
Goodwill
195,975
169,251
Other
254,672
241,947
Total intangible assets
450,648
411,199
Investments and other assets
2,053,978
1,743,712
Total non-current assets
21,548,333
23,501,326
Total assets
70,681,631
74,181,083

 

(Thousands of yen)
As of March 31, 2020
As of September 30, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade
1,898,714
2,148,717
Electronically recorded obligations - operating
1,619,355
1,779,811
Short-term borrowings
900,000
900,000
Current portion of long-term borrowings
-
266,624
Income taxes payable
827,864
1,371,273
Provision for bonuses
608,949
647,419
Provision for bonuses for directors (and other officers)
63,000
5,500
Other
3,382,929
2,369,151
Total current liabilities
9,300,813
9,488,497
Non-current liabilities
Long-term borrowings
1,200,000
1,733,376
Deferred tax liabilities
351,419
151,897
Other
375,829
342,771
Total non-current liabilities
1,927,248
2,228,044
Total liabilities
11,228,062
11,716,542
Net assets
Shareholders' equity
Share capital
8,646,720
8,646,720
Capital surplus
11,992,492
11,997,067
Retained earnings
40,526,723
43,360,875
Treasury shares
(239,524)
(228,163)
Total shareholders' equity
60,926,411
63,776,500
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
70,521
131,158
Foreign currency translation adjustment
(1,543,364)
(1,443,116)
Total accumulated other comprehensive income
(1,472,842)
(1,311,958)
Total net assets
59,453,569
62,464,541
Total liabilities and net assets
70,681,631
74,181,083

 

 

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, 2019
Six months ended
September 30, 2020
Net sales
20,340,966
19,533,722
Cost of sales
12,124,683
10,942,900
Gross profit
8,216,282
8,590,822
Selling, general and administrative expenses
4,067,286
3,905,268
Operating profit
4,148,996
4,685,553
Non-operating income
Interest income
28,652
26,950
Rental income
47,906
44,858
Other
20,453
33,735
Total non-operating income
97,011
105,545
Non-operating expenses
Interest expenses
-
1,542
Foreign exchange losses
31,667
101,077
Rent expenses on real estate for investments
26,879
22,958
Other
11,018
21,458
Total non-operating expenses
69,565
147,036
Ordinary profit
4,176,442
4,644,061
Extraordinary income
Gain on sales of non-current assets
1,059
1,276
Gain on liquidation of subsidiaries
-
11,887
Total extraordinary income
1,059
13,163
Extraordinary losses
Loss on sales and retirement of non-current assets
28,485
20,583
Loss on valuation of investment securities
27,510
-
Loss related to infectious disease
-
67,802
Total extraordinary losses
55,995
88,385
Profit before income taxes
4,121,506
4,568,839
Income taxes - current
1,367,200
1,269,136
Income taxes - deferred
(113,743)
144,923
Total income taxes
1,253,457
1,414,060
Profit
2,868,049
3,154,779
Profit attributable to owners of parent
2,868,049
3,154,779

 

 

Consolidated statements of comprehensive income (cumulative)

(Thousands of yen)
Six months ended
September 30, 2019
Six months ended
September 30, 2020
Profit
2,868,049
3,154,779
Other comprehensive income
Valuation difference on available-for-sale securities
14,422
60,636
Foreign currency translation adjustment
(557,720)
100,247
Total other comprehensive income
(543,297)
160,884
Comprehensive income
2,324,752
3,315,664
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
2,324,752
3,315,664

 

 

Consolidated statements of cash flows

(Thousands of yen)
Six months ended
September 30, 2019
Six months ended
September 30, 2020
Cash flows from operating activities
Profit before income taxes
4,121,506
4,568,839
Depreciation
1,140,487
1,003,185
Amortization of goodwill
26,723
26,723
Increase (decrease) in allowance for doubtful accounts
1,114
4,379
Loss (gain) on liquidation of subsidiaries
-
(11,887)
Loss (gain) on valuation of investment securities
27,510
-
Loss (gain) on sales and retirement of non-current assets
27,425
19,307
Interest and dividend income
(31,607)
(29,448)
Interest expenses
-
1,542
Foreign exchange losses (gains)
(5,929)
577
Decrease (increase) in trade receivables
1,620,188
1,093,242
Decrease (increase) in inventories
1,010,896
444,997
Increase (decrease) in trade payables
(823,121)
204,882
Other, net
207,952
(497,803)
Subtotal
7,323,147
6,828,538
Interest and dividends received
31,608
29,448
Interest paid
-
(1,542)
Income taxes (paid) refund
(1,429,303)
(536,612)
Net cash provided by (used in) operating activities
5,925,452
6,319,832
Cash flows from investing activities
Net decrease (increase) in time deposits
(1,585)
-
Purchase of property, plant and equipment
(2,081,015)
(3,401,297)
Proceeds from sales of property, plant and equipment
1,038
3,801
Purchase of investment securities
(2,034)
(1,643)
Proceeds from liquidation of subsidiaries
-
34,582
Purchase of intangible assets
(29,023)
(8,428)
Other, net
7,435
(18,846)
Net cash provided by (used in) investing activities
(2,105,184)
(3,391,833)
Cash flows from financing activities
Proceeds from long-term borrowings
-
800,000
Purchase of treasury shares
(62,145)
(1,167)
Dividends paid
(296,233)
(320,627)
Net cash provided by (used in) financing activities
(358,379)
478,204
Effect of exchange rate change on cash and cash equivalents
(145,095)
48,150
Net increase (decrease) in cash and cash equivalents
3,316,793
3,454,353
Cash and cash equivalents at beginning of period
22,448,629
29,114,590
Cash and cash equivalents at end of period
25,765,423
32,568,944

 

 

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