REG - Maruwa Co Ld - Final Results
27/04/2022 10:45
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RNS Number : 5363J Maruwa Co Ld 27 April 2022
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 Year Ended March 31, 2022
(Based on Japanese GAAP)
April 27, 2022
Company name: MARUWA CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: Chairman Sei Kanbe
Inquiries: Planning Office Manager Yukiko Morishita TEL 0561-51-0841
Scheduled date of ordinary general meeting of shareholders: June 23, 2022
Scheduled date to file Securities Report: June 24, 2022
Scheduled date to commence dividend payments: June 24, 2022
Preparation of supplementary material on financial results: Yes
Holding of financial results meeting: Yes (for institutional investors and analysts)
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2022 (from
April 1, 2021 to March 31, 2022)
(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, 2022 54,344 31.1 18,215 77.7 19,182 85.7 13,350 92.5
Year ended March 31, 2021 41,438 0.5 10,248 9.7 10,330 8.5 6,935 17.7
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, 2022 1,082.11 - 18.3 22.1 33.5
Year ended March 31, 2021 562.30 - 11.0 13.9 24.7
(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, 2022 95,899 79,681 83.1 6,458.45
As of March 31, 2021 78,059 66,344 85.0 5,378.23
(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, 2022 14,757 (3,522) (1,132) 44,385
Year ended March 31, 2021 10,713 (5,376) (801) 33,888
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, 2021 - 28.00 - 36.00 64.00 789 11.4 1.3
Year ended March 31, 2022 - 34.00 - 36.00 70.00 863 6.5 1.2
Year ending March 31, 2023 - 38.00 - 38.00 76.00 7.3
(Forecast)
3. Forecast of consolidated financial results for the year ending March 31,
2023 (from April 1, 2022 to March 31, 2023)
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 27,000 9.2 8,100 2.2 8,100 (0.2) 5,500 (1.2) 445.79
September 30, 2022
Full year 60,000 10.4 18,500 1.6 18,500 (3.6) 12,900 (3.4) 1,045.59
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2022 No
(changes in specified subsidiaries resulting in the change in scope of
consolidation):
(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 Yes
other regulations:
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, 2022 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 March 31, 2022 34,492 shares As of March 31, 2021 36,327 shares
Average number of shares during the period
Year ended March 31, 2022 12,337,379 shares Year ended March 31, 2021 12,333,994 shares
Consolidated financial statements
Consolidated balance sheets
(Millions of yen)
As of March 31, 2021 As of March 31, 2022
Assets
Current assets
Cash and deposits 34,088 44,621
Notes and accounts receivable - trade 9,834 -
Notes receivable - trade - 473
Accounts receivable - trade - 12,876
Electronically recorded monetary claims - operating 1,267 1,810
Merchandise and finished goods 1,641 1,632
Work in process 2,277 2,648
Raw materials and supplies 2,463 3,706
Other 2,148 2,389
Allowance for doubtful accounts (8) (9)
Total current assets 53,714 70,149
Non-current assets
Property, plant and equipment
Buildings and structures 17,012 17,717
Accumulated depreciation (6,967) (7,615)
Buildings and structures, net 10,044 10,101
Machinery, equipment and vehicles 22,354 24,771
Accumulated depreciation (17,149) (19,292)
Machinery, equipment and vehicles, net 5,204 5,478
Land 4,544 4,699
Construction in progress 1,889 2,653
Other 3,887 4,256
Accumulated depreciation (3,238) (3,666)
Other, net 648 590
Total property, plant and equipment 22,332 23,524
Intangible assets
Other 260 298
Total intangible assets 260 298
Investments and other assets
Investment securities 248 230
Deferred tax assets 440 637
Investment property, net 963 948
Other 104 111
Allowance for doubtful accounts (4) (0)
Total investments and other assets 1,752 1,927
Total non-current assets 24,345 25,750
Total assets 78,059 95,899
(Millions of yen)
As of March 31, 2021 As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade 2,404 3,444
Electronically recorded obligations - operating 1,931 2,419
Short-term borrowings 100 100
Current portion of long-term borrowings 266 866
Income taxes payable 1,986 4,731
Provision for bonuses 699 866
Provision for bonuses for directors (and other officers) 49 71
Other 2,172 2,455
Total current liabilities 9,612 14,953
Non-current liabilities
Long-term borrowings 1,599 733
Deferred tax liabilities 160 153
Other 342 377
Total non-current liabilities 2,103 1,264
Total liabilities 11,715 16,218
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,005 12,017
Retained earnings 46,796 59,274
Treasury shares (217) (207)
Total shareholders' equity 67,231 79,732
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 119 104
Foreign currency translation adjustment (1,006) (155)
Total accumulated other comprehensive income (886) (51)
Total net assets 66,344 79,681
Total liabilities and net assets 78,059 95,899
Consolidated statements of income and consolidated statements of comprehensive
income
Consolidated statements of income
(Millions of yen)
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
Net sales 41,438 54,344
Cost of sales 23,074 27,018
Gross profit 18,363 27,326
Selling, general and administrative expenses 8,114 9,110
Operating profit 10,248 18,215
Non-operating income
Interest income 51 58
Rental income 88 95
Foreign exchange gains - 810
Other 57 66
Total non-operating income 197 1,029
Non-operating expenses
Interest expenses 6 7
Foreign exchange losses 50 -
Rent expenses on real estate for investments 46 44
Other 11 11
Total non-operating expenses 115 63
Ordinary profit 10,330 19,182
Extraordinary income
Gain on sale of non-current assets 2 3
Gain on sale of investment securities 65 9
Gain on liquidation of subsidiaries 11 -
Subsidy income - 481
Compensation income - 186
Total extraordinary income 79 680
Extraordinary losses
Loss on sale and retirement of non-current assets 258 16
Loss on tax purpose reduction entry of non-current assets - 463
Impairment losses 169 -
Loss related to infectious disease 68 41
Other 28 8
Total extraordinary losses 525 531
Profit before income taxes 9,884 19,331
Income taxes - current 2,905 6,208
Income taxes - deferred 43 (227)
Total income taxes 2,948 5,980
Profit 6,935 13,350
Profit attributable to owners of parent 6,935 13,350
Consolidated statements of comprehensive income
(Millions of yen)
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
Profit 6,935 13,350
Other comprehensive income
Valuation difference on available-for-sale securities 49 (15)
Foreign currency translation adjustment 536 851
Total other comprehensive income 585 835
Comprehensive income 7,521 14,186
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 7,521 14,186
Consolidated statements of changes in equity
Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders' equity
Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity
Balance at beginning of period 8,646 11,992 40,526 (239) 60,926
Changes during period
Dividends of surplus (665) (665)
Profit attributable to owners of parent 6,935 6,935
Purchase of treasury shares (2) (2)
Disposal of treasury shares 13 24 37
Net changes in items other than shareholders' equity
Total changes during period - 13 6,269 21 6,304
Balance at end of period 8,646 12,005 46,796 (217) 67,231
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 70 (1,543) (1,472) 59,453
Changes during period
Dividends of surplus (665)
Profit attributable to owners of parent 6,935
Purchase of treasury shares (2)
Disposal of treasury shares 37
Net changes in items other than shareholders' equity 49 536 585 585
Total changes during period 49 536 585 6,890
Balance at end of period 119 (1,006) (886) 66,344
Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity
Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity
Balance at beginning of period 8,646 12,005 46,796 (217) 67,231
Cumulative effects of changes in accounting policies (8) (8)
Restated balance 8,646 12,005 46,787 (217) 67,222
Changes during period
Dividends of surplus (863) (863)
Profit attributable to owners of parent 13,350 13,350
Purchase of treasury shares (2) (2)
Disposal of treasury shares 12 12 24
Net changes in items other than shareholders' equity
Total changes during period - 12 12,486 10 12,509
Balance at end of period 8,646 12,017 59,274 (207) 79,732
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 119 (1,006) (886) 66,344
Cumulative effects of changes in accounting policies (8)
Restated balance 119 (1,006) (886) 66,335
Changes during period
Dividends of surplus (863)
Profit attributable to owners of parent 13,350
Purchase of treasury shares (2)
Disposal of treasury shares 24
Net changes in items other than shareholders' equity (15) 851 835 835
Total changes during period (15) 851 835 13,345
Balance at end of period 104 (155) (51) 79,681
Consolidated statements of cash flows
(Millions of yen)
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
Cash flows from operating activities
Profit before income taxes 9,884 19,331
Impairment losses 169 -
Depreciation 2,169 2,570
Amortization of goodwill 26 -
Increase (decrease) in allowance for doubtful accounts 1 (34)
Loss (gain) on liquidation of subsidiaries (11) -
Loss (gain) on sale of investment securities (65) (0)
Loss (gain) on sale and retirement of non-current assets 256 13
Loss on tax purpose reduction entry of non-current assets - 463
Interest and dividend income (56) (63)
Interest expenses 6 7
Subsidy income - (481)
Compensation income - (186)
Foreign exchange losses (gains) (0) (1)
Decrease (increase) in trade receivables (168) (3,883)
Decrease (increase) in inventories 872 (1,527)
Increase (decrease) in trade payables 664 1,519
Other, net (1,307) 278
Subtotal 12,439 18,005
Interest and dividends received 56 63
Interest paid (7) (7)
Income taxes refund (paid) (1,776) (3,489)
Proceeds from compensation - 186
Net cash provided by (used in) operating activities 10,713 14,757
Cash flows from investing activities
Net decrease (increase) in time deposits 32 (12)
Purchase of property, plant and equipment (5,536) (3,738)
Proceeds from sale of property, plant and equipment 4 6
Purchase of intangible assets (40) (70)
Purchase of investment securities (3) (235)
Proceeds from sale of investment securities 109 232
Proceeds from liquidation of subsidiaries 34 -
Subsidies received - 285
Other, net 22 9
Net cash provided by (used in) investing activities (5,376) (3,522)
Cash flows from financing activities
Proceeds from short-term borrowings 100 -
Repayments of short-term borrowings (900) -
Proceeds from long-term borrowings 800 -
Repayments of long-term borrowings (133) (266)
Purchase of treasury shares (2) (2)
Dividends paid (665) (863)
Net cash provided by (used in) financing activities (801) (1,132)
Effect of exchange rate change on cash and cash equivalents 238 394
Net increase (decrease) in cash and cash equivalents 4,773 10,497
Cash and cash equivalents at beginning of period 29,114 33,888
Cash and cash equivalents at end of period 33,888 44,385
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