REG - Maruwa Co Ld - Half-year Report
29/10/2024 09:15
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RNS Number : 0325K Maruwa Co Ld 29 October 2024
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, 2024
(Based on Japanese GAAP)
October 29, 2024
Company name: MARUWA CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: President Toshiro Kanbe
Inquiries: Corporate Officer Daisuke Yamaguchi TEL 0561-51-0841
Scheduled date to file Semi-annual Securities Report: November 13, 2024
Scheduled date to commence dividend payments: December 2, 2024
Preparation of supplementary material on financial results: Yes
Holding of 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, 2024
(from April 1, 2024 to September 30, 2024)
(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, 2024 34,822 24.1 12,789 47.9 11,999 24.8 8,440 24.5
Six months ended September 30, 2023 28,063 (5.4) 8,649 (18.5) 9,616 (21.3) 6,777 (21.2)
Earnings per share Diluted earnings per share
Yen Yen
Six months ended September 30, 2024 684.12 -
Six months ended September 30, 2023 549.38 -
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of yen Millions of yen %
As of September 30, 2024 131,278 118,030 89.9
As of March 31, 2024 122,515 109,203 89.1
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, 2024 - 43.00 - 43.00 86.00
Year ending March 31, 2025 - 47.00
Year ending March 31, 2025 (Forecast) - 47.00 94.00
3. Forecast of consolidated financial results for the year ending March 31,
2025 (from April 1, 2024 to March 31, 2025)
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 70,300 14.2 23,000 16.2 - - - - -
4. Notes
(1) Significant changes in the scope of consolidation during the six months No
ended September 30, 2024:
(2) Application of special accounting methods for preparing semi-annual 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 Yes
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, 2024 12,372,000 shares As of March 31, 2024 12,372,000 shares
Number of treasury shares at the end of the period
As of September 30, 2024 32,058 shares As of March 31, 2024 34,125 shares
Average number of shares during the period (cumulative from the beginning of
the fiscal year)
Six months ended September 30, 2024 12,339,942 shares Six months ended September 30, 2023 12,337,296 shares
Semi-annual consolidated financial statements
Consolidated balance sheets
(Millions of yen)
As of March 31, 2024 As of September 30, 2024
Assets
Current assets
Cash and deposits 55,250 64,882
Notes receivable - trade 360 155
Accounts receivable - trade 13,960 14,318
Electronically recorded monetary claims - operating 1,746 1,384
Merchandise and finished goods 2,248 2,103
Work in process 2,960 3,427
Raw materials and supplies 4,575 4,673
Other 2,516 1,586
Allowance for doubtful accounts (133) (103)
Total current assets 83,485 92,428
Non-current assets
Property, plant and equipment
Buildings and structures, net 15,947 14,787
Machinery, equipment and vehicles, net 12,040 11,544
Land 5,005 5,007
Construction in progress 2,952 4,176
Other, net 786 823
Total property, plant and equipment 36,733 36,338
Intangible assets
Other 318 396
Total intangible assets 318 396
Investments and other assets 1,977 2,114
Total non-current assets 39,029 38,849
Total assets 122,515 131,278
(Millions of yen)
As of March 31, 2024 As of September 30, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade 2,957 2,618
Electronically recorded obligations - operating 2,355 892
Current portion of long-term borrowings 400 400
Income taxes payable 2,851 3,696
Provision for bonuses 1,042 1,189
Provision for bonuses for directors (and other officers) 124 6
Other 3,091 3,997
Total current liabilities 12,821 12,800
Non-current liabilities
Deferred tax liabilities 127 85
Other 361 361
Total non-current liabilities 489 447
Total liabilities 13,311 13,247
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,031 12,103
Retained earnings 87,573 95,483
Treasury shares (210) (197)
Total shareholders' equity 108,042 116,036
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 171 115
Foreign currency translation adjustment 989 1,878
Total accumulated other comprehensive income 1,161 1,994
Total net assets 109,203 118,030
Total liabilities and net assets 122,515 131,278
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, 2023 September 30, 2024
Net sales 28,063 34,822
Cost of sales 14,054 16,101
Gross profit 14,008 18,720
Selling, general and administrative expenses 5,359 5,930
Operating profit 8,649 12,789
Non-operating income
Interest income 82 99
Rental income 58 66
Foreign exchange gains 800 -
Other 67 72
Total non-operating income 1,008 237
Non-operating expenses
Foreign exchange losses - 969
Interest expenses 0 0
Rent expenses on real estate for investments 25 31
Other 14 27
Total non-operating expenses 41 1,028
Ordinary profit 9,616 11,999
Extraordinary income
Gain on sale of non-current assets - 0
Gain on sale of investment securities 12 -
Subsidy income - 2,576
Total extraordinary income 12 2,576
Extraordinary losses
Loss on sale and retirement of non-current assets 134 86
Loss on tax purpose reduction entry of non-current assets - 2,360
Other 7 -
Total extraordinary losses 141 2,447
Profit before income taxes 9,486 12,128
Income taxes - current 2,646 3,745
Income taxes - deferred 62 (58)
Total income taxes 2,708 3,687
Profit 6,777 8,440
Profit attributable to owners of parent 6,777 8,440
Consolidated statements of comprehensive income (cumulative)
(Millions of yen)
Six months ended Six months ended
September 30, 2023 September 30, 2024
Profit 6,777 8,440
Other comprehensive income
Valuation difference on available-for-sale securities 30 (56)
Foreign currency translation adjustment 629 888
Total other comprehensive income 660 832
Comprehensive income 7,438 9,273
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 7,438 9,273
Consolidated statements of cash flows
(Millions of yen)
Six months ended Six months ended
September 30, 2023 September 30, 2024
Cash flows from operating activities
Profit before income taxes 9,486 12,128
Depreciation 1,763 2,158
Increase (decrease) in allowance for doubtful accounts 0 (31)
Loss (gain) on sale of investment securities (4) -
Loss (gain) on sale and retirement of non-current assets 134 86
Interest and dividend income (91) (103)
Interest expenses 0 0
Subsidy income - (2,576)
Loss on tax purpose reduction entry of non-current assets - 2,360
Decrease (increase) in trade receivables (2,395) 333
Decrease (increase) in inventories (1,057) (334)
Increase (decrease) in trade payables 293 (1,150)
Other, net 903 1,020
Subtotal 9,032 13,892
Interest and dividends received 91 103
Interest paid (0) (0)
Income taxes refund (paid) (2,633) (2,886)
Net cash provided by (used in) operating activities 6,490 11,109
Cash flows from investing activities
Purchase of property, plant and equipment (6,832) (3,828)
Proceeds from sale of property, plant and equipment - 0
Payments for retirement of property, plant and equipment (67) (72)
Purchase of intangible assets (35) (93)
Purchase of investment securities (84) (133)
Proceeds from sale of investment securities 166 -
Subsidies received - 2,676
Other, net (10) 5
Net cash provided by (used in) investing activities (6,863) (1,446)
Cash flows from financing activities
Repayments of long-term borrowings (133) -
Purchase of treasury shares (3) (0)
Proceeds from sale of treasury shares 17 -
Dividends paid (493) (530)
Net cash provided by (used in) financing activities (612) (531)
Effect of exchange rate change on cash and cash equivalents 333 511
Net increase (decrease) in cash and cash equivalents (652) 9,643
Cash and cash equivalents at beginning of period 49,585 55,013
Cash and cash equivalents at end of period 48,933 64,656
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