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, 2021 (Based on Japanese GAAP)
October 27, 2021
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:
Planning Office Manager
Yukiko Morishita
TEL 0561-51-0841
Scheduled date to file Quarterly Securities Report:
November 12, 2021
Scheduled date to commence dividend payments:
December 3, 2021
Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results meeting:
Yes
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)
(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, 2021
24,722
26.6
7,926
69.2
8,118
74.8
5,567
76.5
Six months ended September 30, 2020
19,533
(4.0)
4,685
12.9
4,644
11.2
3,154
10.0
Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2021
451.30
-
Six months ended September 30, 2020
255.80
-
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2021
84,629
71,537
84.5
As of March 31, 2021
78,059
66,344
85.0
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, 2021
-
28.00
-
36.00
64.00
Year ending March 31, 2022
-
34.00
Year ending March 31, 2022 (Forecast)
-
36.00
70.00
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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
50,200
21.1
15,900
55.1
15,900
53.9
10,500
51.4
851.06
4. Notes
(1) Changes in significant subsidiaries during the six months ended September 30, 2021 (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:
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 September 30, 2021
12,372,000
shares
As of March 31, 2021
12,372,000
shares
Number of treasury shares at the end of the period
As of September 30, 2021
34,270
shares
As of March 31, 2021
36,327
shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Electronically recorded monetary claims - operating
1,267
1,252
Merchandise and finished goods
1,641
1,699
Work in process
2,277
2,512
Raw materials and supplies
2,463
3,181
Other
2,148
1,303
Allowance for doubtful accounts
(8)
(8)
Total current assets
53,714
59,596
Non-current assets
Property, plant and equipment
Buildings and structures
17,012
17,478
Accumulated depreciation
(6,967)
(7,265)
Buildings and structures, net
10,044
10,212
Machinery, equipment and vehicles
22,354
23,718
Accumulated depreciation
(17,149)
(18,134)
Machinery, equipment and vehicles, net
5,204
5,583
Land
4,544
4,546
Construction in progress
1,889
1,741
Other
3,887
4,067
Accumulated depreciation
(3,238)
(3,394)
Other, net
648
673
Total property, plant and equipment
22,332
22,757
Intangible assets
Other
260
275
Total intangible assets
260
275
Investments and other assets
1,752
2,000
Total non-current assets
24,345
25,033
Total assets
78,059
84,629
(Millions of yen)
As of March 31, 2021
As of September 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade
2,404
3,282
Electronically recorded obligations - operating
1,931
1,747
Short-term borrowings
100
100
Current portion of long-term borrowings
266
266
Income taxes payable
1,986
2,557
Provision for bonuses
699
782
Provision for bonuses for directors (and other officers)
49
5
Other
2,172
2,388
Total current liabilities
9,612
11,130
Non-current liabilities
Long-term borrowings
1,599
1,466
Deferred tax liabilities
160
158
Other
342
336
Total non-current liabilities
2,103
1,961
Total liabilities
11,715
13,091
Net assets
Shareholders' equity
Share capital
8,646
8,646
Capital surplus
12,005
12,017
Retained earnings
46,796
51,911
Treasury shares
(217)
(205)
Total shareholders' equity
67,231
72,370
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
119
139
Foreign currency translation adjustment
(1,006)
(972)
Total accumulated other comprehensive income
(886)
(832)
Total net assets
66,344
71,537
Total liabilities and net assets
78,059
84,629
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen)
Six months ended September 30, 2020
Six months ended September 30, 2021
Net sales
19,533
24,722
Cost of sales
10,942
12,331
Gross profit
8,590
12,391
Selling, general and administrative expenses
3,905
4,464
Operating profit
4,685
7,926
Non-operating income
Interest income
26
31
Rental income
44
49
Foreign exchange gains
-
112
Other
33
37
Total non-operating income
105
231
Non-operating expenses
Interest expenses
1
4
Foreign exchange losses
101
-
Rent expenses on real estate for investments
22
22
Other
21
12
Total non-operating expenses
147
39
Ordinary profit
4,644
8,118
Extraordinary income
Gain on sale of non-current assets
1
0
Gain on liquidation of subsidiaries
11
-
Subsidy income
-
89
Total extraordinary income
13
90
Extraordinary losses
Loss on sale and retirement of non-current assets
20
3
Loss on tax purpose reduction entry of non-current assets
-
75
Loss related to infectious disease
67
41
Total extraordinary losses
88
119
Profit before income taxes
4,568
8,088
Income taxes - current
1,269
2,576
Income taxes - deferred
144
(55)
Total income taxes
1,414
2,520
Profit
3,154
5,567
Profit attributable to owners of parent
3,154
5,567
Consolidated statements of comprehensive income (cumulative)
(Millions of yen)
Six months ended September 30, 2020
Six months ended September 30, 2021
Profit
3,154
5,567
Other comprehensive income
Valuation difference on available-for-sale securities
60
20
Foreign currency translation adjustment
100
33
Total other comprehensive income
160
54
Comprehensive income
3,315
5,621
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
3,315
5,621
Consolidated statements of cash flows
(Millions of yen)
Six months ended September 30, 2020
Six months ended September 30, 2021
Cash flows from operating activities
Profit before income taxes
4,568
8,088
Depreciation
1,003
1,235
Amortization of goodwill
26
-
Increase (decrease) in allowance for doubtful accounts
4
(4)
Loss (gain) on liquidation of subsidiaries
(11)
-
Loss (gain) on sale and retirement of non-current assets
19
3
Loss on tax purpose reduction entry of non-current assets
-
75
Interest and dividend income
(29)
(33)
Interest expenses
1
4
Subsidy income
-
(89)
Foreign exchange losses (gains)
0
(1)
Decrease (increase) in trade receivables
1,093
(2,101)
Decrease (increase) in inventories
444
(1,007)
Increase (decrease) in trade payables
204
356
Other, net
(497)
849
Subtotal
6,828
7,374
Interest and dividends received
29
33
Interest paid
(1)
(4)
Income taxes refund (paid)
(536)
(1,904)
Net cash provided by (used in) operating activities
6,319
5,498
Cash flows from investing activities
Net decrease (increase) in time deposits
-
2
Purchase of property, plant and equipment
(3,401)
(1,221)
Proceeds from sale of property, plant and equipment
3
0
Purchase of investment securities
(1)
(151)
Proceeds from liquidation of subsidiaries
34
-
Purchase of intangible assets
(8)
(36)
Subsidies received
-
89
Other, net
(18)
(23)
Net cash provided by (used in) investing activities
(3,391)
(1,340)
Cash flows from financing activities
Proceeds from long-term borrowings
800
-
Repayments of long-term borrowings
-
(133)
Purchase of treasury shares
(1)
(0)
Dividends paid
(320)
(444)
Net cash provided by (used in) financing activities
478
(577)
Effect of exchange rate change on cash and cash equivalents
48
25
Net increase (decrease) in cash and cash equivalents
3,454
3,605
Cash and cash equivalents at beginning of period
29,114
33,888
Cash and cash equivalents at end of period
32,568
37,493
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