1st Quarter Results

Maruwa Co Ld

29 July 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 Three Months Ended June 30, 2024 (Based on Japanese GAAP)
					July 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  [phone]
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on financial results:			Yes
Holding of financial results meeting:			Yes

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 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	%
Three months ended June 30, 2024	16,243	27.7	5,640	59.8	6,181	49.1	4,502	58.2
Three months ended June 30, 2023	12,722	(8.8)	3,530	(25.7)	4,145	(27.8)	2,846	(30.4)

	Earnings per share	Diluted earnings per share
	Yen	Yen
Three months ended June 30, 2024	364.96	-
Three months ended June 30, 2023	230.73	-

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
As of June 30, 2024	124,916	114,015	91.3
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	-
Year ending March 31, 2025 (Forecast)		47.00	-	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
Six months ending September 30, 2024	30,800	9.8	10,000	15.6	-	-	-	-	-
Full year	70,300	14.2	23,000	16.2	-	-	-	-	-

4. Notes

(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

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 June 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 June 30, 2024

34,148

shares

As of March 31, 2024

34,125

shares

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

Three months ended June 30, 2024

12,337,866

shares

Three months ended June 30, 2023

12,337,328

shares

Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2024	As of June 30, 2024
Assets
Current assets
Cash and deposits	55,250	57,265
Notes receivable - trade	360	241
Accounts receivable - trade	13,960	14,437
Electronically recorded monetary claims - operating	1,746	1,575
Merchandise and finished goods	2,248	2,235
Work in process	2,960	3,348
Raw materials and supplies	4,575	4,903
Other	2,516	3,727
Allowance for doubtful accounts	(133)	(137)
Total current assets	83,485	87,599
Non-current assets
Property, plant and equipment
Buildings and structures, net	15,947	14,595
Machinery, equipment and vehicles, net	12,040	11,220
Land	5,005	5,016
Construction in progress	2,952	3,528
Other, net	786	821
Total property, plant and equipment	36,733	35,183
Intangible assets
Other	318	397
Total intangible assets	318	397
Investments and other assets	1,977	1,735
Total non-current assets	39,029	37,316
Total assets	122,515	124,916

		(Millions of yen)
	As of March 31, 2024	As of June 30, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade	2,957	2,906
Electronically recorded obligations - operating	2,355	1,668
Current portion of long-term borrowings	400	400
Income taxes payable	2,851	1,640
Provision for bonuses	1,042	582
Provision for bonuses for directors (and other officers)	124	3
Other	3,091	3,229
Total current liabilities	12,821	10,430
Non-current liabilities
Deferred tax liabilities	127	104
Other	361	365
Total non-current liabilities	489	470
Total liabilities	13,311	10,901
Net assets
Shareholders' equity
Share capital	8,646	8,646
Capital surplus	12,031	12,031
Retained earnings	87,573	91,545
Treasury shares	(210)	(210)
Total shareholders' equity	108,042	112,013
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	171	167
Foreign currency translation adjustment	989	1,834
Total accumulated other comprehensive income	1,161	2,001
Total net assets	109,203	114,015
Total liabilities and net assets	122,515	124,916

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended June 30, 2023	Three months ended June 30, 2024
Net sales	12,722	16,243
Cost of sales	6,533	7,665
Gross profit	6,188	8,578
Selling, general and administrative expenses	2,658	2,937
Operating profit	3,530	5,640
Non-operating income
Interest income	33	35
Rental income	30	32
Foreign exchange gains	525	472
Other	53	28
Total non-operating income	642	569
Non-operating expenses
Interest expenses	0	0
Rent expenses on real estate for investments	11	20
Other	14	8
Total non-operating expenses	26	29
Ordinary profit	4,145	6,181
Extraordinary income
Gain on sale of non-current assets	-	0
Subsidy income	-	2,576
Total extraordinary income	-	2,576
Extraordinary losses
Loss on sale and retirement of non-current assets	127	15
Loss on sale of investment securities	2	-
Loss on tax purpose reduction entry of non-current assets	-	2,360
Total extraordinary losses	129	2,376
Profit before income taxes	4,015	6,381
Income taxes - current	877	1,653
Income taxes - deferred	291	224
Total income taxes	1,169	1,878
Profit	2,846	4,502
Profit attributable to owners of parent	2,846	4,502

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Three months ended June 30, 2023	Three months ended June 30, 2024
Profit	2,846	4,502
Other comprehensive income
Valuation difference on available-for-sale securities	61	(4)
Foreign currency translation adjustment	352	844
Total other comprehensive income	414	840
Comprehensive income	3,260	5,343
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,260	5,343

 

END