REG - Maruwa Co Ld - Half-year Report
27/10/2022 10:45
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RNS Number : 3491E Maruwa Co Ld 27 October 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 Six Months Ended September 30, 2022
(Based on Japanese GAAP)
October 27, 2022
Company name: MARUWA CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: President and Representative Director Toshiro Kanbe
Inquiries: Director Yukiko Morishita TEL 0561-51-0841
Scheduled date to file Quarterly Securities Report: November 10, 2022
Scheduled date to commence dividend payments: December 5, 2022
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting: Yes (for analysts and institutional investors)
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2022
(from April 1, 2022 to September 30, 2022)
(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, 2022 29,668 20.0 10,616 33.9 12,219 50.5 8,604 54.5
Six months ended September 30, 2021 24,722 26.6 7,926 69.2 8,118 74.8 5,567 76.5
Earnings per share Diluted earnings per share
Yen Yen
Six months ended September 30, 2022 697.39 -
Six months ended September 30, 2021 451.30 -
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of yen Millions of yen %
As of September 30, 2022 102,427 88,582 86.5
As of March 31, 2022 95,899 79,681 83.1
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, 2022 - 34.00 - 36.00 70.00
Year ending March 31, 2023 - 38.00
Year ending March 31, 2023 (Forecast) - 38.00 76.00
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
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 six months ended September Yes
30, 2022
(changes in specified subsidiaries resulting in the change in scope of
consolidation):
(2) Application of special accounting methods for preparing quarterly No
consolidated financial statements:
(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 No
other regulations:
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, 2022 12,372,000 shares As of March 31, 2022 12,372,000 shares
Number of treasury shares at the end of the period
As of September 30, 2022 34,599 shares As of March 31, 2022 34,492 shares
Average number of shares during the period (cumulative from the beginning of
the fiscal year)
Six months ended September 30, 2022 12,337,427 shares Six months ended September 30, 2021 12,337,130 shares
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen)
As of March 31, 2022 As of September 30, 2022
Assets
Current assets
Cash and deposits 44,621 48,669
Notes receivable - trade 473 235
Accounts receivable - trade 12,876 13,390
Electronically recorded monetary claims - operating 1,810 1,728
Merchandise and finished goods 1,632 2,336
Work in process 2,648 3,048
Raw materials and supplies 3,706 3,850
Other 2,389 1,192
Allowance for doubtful accounts (9) (9)
Total current assets 70,149 74,443
Non-current assets
Property, plant and equipment
Buildings and structures, net 10,101 10,269
Machinery, equipment and vehicles, net 5,478 7,528
Land 4,699 4,700
Construction in progress 2,653 2,725
Other, net 590 668
Total property, plant and equipment 23,524 25,893
Intangible assets
Other 298 308
Total intangible assets 298 308
Investments and other assets 1,927 1,781
Total non-current assets 25,750 27,984
Total assets 95,899 102,427
(Millions of yen)
As of March 31, 2022 As of September 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade 3,444 3,024
Electronically recorded obligations - operating 2,419 1,994
Short-term borrowings 100 100
Current portion of long-term borrowings 866 866
Income taxes payable 4,731 3,252
Provision for bonuses 866 839
Provision for bonuses for directors (and other officers) 71 6
Other 2,455 2,620
Total current liabilities 14,953 12,705
Non-current liabilities
Long-term borrowings 733 600
Deferred tax liabilities 153 177
Other 377 363
Total non-current liabilities 1,264 1,140
Total liabilities 16,218 13,845
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,017 12,018
Retained earnings 59,274 67,434
Treasury shares (207) (208)
Total shareholders' equity 79,732 87,891
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 104 91
Foreign currency translation adjustment (155) 598
Total accumulated other comprehensive income (51) 690
Total net assets 79,681 88,582
Total liabilities and net assets 95,899 102,427
Consolidated statements of income (cumulative) and consolidated statements of
comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen)
Six months ended Six months ended
September 30, 2021 September 30, 2022
Net sales 24,722 29,668
Cost of sales 12,331 14,006
Gross profit 12,391 15,662
Selling, general and administrative expenses 4,464 5,046
Operating profit 7,926 10,616
Non-operating income
Interest income 31 29
Rental income 49 48
Foreign exchange gains 112 1,531
Other 37 29
Total non-operating income 231 1,639
Non-operating expenses
Interest expenses 4 2
Rent expenses on real estate for investments 22 24
Other 12 8
Total non-operating expenses 39 36
Ordinary profit 8,118 12,219
Extraordinary income
Gain on sale of non-current assets 0 0
Gain on liquidation of subsidiaries - 3
Subsidy income 89 15
Total extraordinary income 90 19
Extraordinary losses
Loss on sale and retirement of non-current assets 3 16
Loss on tax purpose reduction entry of non-current assets 75 -
Loss related to infectious disease 41 -
Total extraordinary losses 119 16
Profit before income taxes 8,088 12,221
Income taxes - current 2,576 3,453
Income taxes - deferred (55) 164
Total income taxes 2,520 3,617
Profit 5,567 8,604
Profit attributable to owners of parent 5,567 8,604
Consolidated statements of comprehensive income (cumulative)
(Millions of yen)
Six months ended Six months ended
September 30, 2021 September 30, 2022
Profit 5,567 8,604
Other comprehensive income
Valuation difference on available-for-sale securities 20 (12)
Foreign currency translation adjustment 33 754
Total other comprehensive income 54 741
Comprehensive income 5,621 9,345
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 5,621 9,345
Consolidated statements of cash flows
(Millions of yen)
Six months ended Six months ended
September 30, 2021 September 30, 2022
Cash flows from operating activities
Profit before income taxes 8,088 12,221
Depreciation 1,235 1,469
Increase (decrease) in allowance for doubtful accounts (4) (0)
Loss (gain) on sale and retirement of non-current assets 3 16
Loss on tax purpose reduction entry of non-current assets 75 -
Interest and dividend income (33) (32)
Interest expenses 4 2
Subsidy income (89) (15)
Foreign exchange losses (gains) (1) (0)
Decrease (increase) in trade receivables (2,101) (31)
Decrease (increase) in inventories (1,007) (1,178)
Increase (decrease) in trade payables 356 (855)
Other, net 849 1,104
Subtotal 7,374 12,701
Interest and dividends received 33 32
Interest paid (4) (2)
Income taxes refund (paid) (1,904) (4,714)
Net cash provided by (used in) operating activities 5,498 8,016
Cash flows from investing activities
Net decrease (increase) in time deposits 2 -
Purchase of property, plant and equipment (1,221) (3,930)
Proceeds from sale of property, plant and equipment 0 0
Purchase of investment securities (151) (23)
Purchase of intangible assets (36) (22)
Subsidies received 89 211
Other, net (23) 9
Net cash provided by (used in) investing activities (1,340) (3,756)
Cash flows from financing activities
Repayments of long-term borrowings (133) (133)
Purchase of treasury shares (0) (1)
Dividends paid (444) (444)
Net cash provided by (used in) financing activities (577) (579)
Effect of exchange rate change on cash and cash equivalents 25 352
Net increase (decrease) in cash and cash equivalents 3,605 4,033
Cash and cash equivalents at beginning of period 33,888 44,385
Cash and cash equivalents at end of period 37,493 48,419
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