3rd Quarter Results

RNS Number : 3812O

Maruwa Co Ld

31 January 2023

 

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 Nine Months Ended December 31, 2022 (Based on Japanese GAAP)
					January 31, 2023
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  [phone]
Scheduled date to file Quarterly Securities Report:			February 10, 2023
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on quarterly financial results:			No
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 nine months ended December 31, 2022 (from April 1, 2022 to December 31, 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	%
Nine months ended December 31, 2022	44,577	11.2	16,039	20.0	16,982	22.9	11,934	25.5
Nine months ended December 31, 2021	40,070	31.1	13,361	76.4	13,819	86.4	9,511	87.3

	Earnings per share	Diluted earnings per share
	Yen	Yen
Nine months ended December 31, 2022	967.35	-
Nine months ended December 31, 2021	770.98	-

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
As of December 31, 2022	102,775	91,029	88.6
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)				40.00	78.00

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	59,100	8.8	20,800	14.2	21,000	9.5	14,700	10.1	1,191.49

4. Notes

(1) Changes in significant subsidiaries during the nine months ended December 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):

Yes

(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:	No
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 December 31, 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 December 31, 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)

Nine months ended December 31, 2022

12,337,418

shares

Nine months ended December 31, 2021

12,337,311

shares

Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2022	As of December 31, 2022
Assets
Current assets
Cash and deposits	44,621	48,613
Notes receivable - trade	473	359
Accounts receivable - trade	12,876	11,636
Electronically recorded monetary claims - operating	1,810	1,982
Merchandise and finished goods	1,632	2,451
Work in process	2,648	2,920
Raw materials and supplies	3,706	3,982
Other	2,389	1,755
Allowance for doubtful accounts	(9)	(9)
Total current assets	70,149	73,693
Non-current assets
Property, plant and equipment
Buildings and structures, net	10,101	10,157
Machinery, equipment and vehicles, net	5,478	7,447
Land	4,699	4,838
Construction in progress	2,653	4,065
Other, net	590	701
Total property, plant and equipment	23,524	27,209
Intangible assets
Other	298	291
Total intangible assets	298	291
Investments and other assets	1,927	1,581
Total non-current assets	25,750	29,082
Total assets	95,899	102,775

		(Millions of yen)
	As of March 31, 2022	As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	3,444	2,996
Electronically recorded obligations - operating	2,419	1,681
Short-term borrowings	100	100
Current portion of long-term borrowings	866	799
Income taxes payable	4,731	1,512
Provision for bonuses	866	444
Provision for bonuses for directors (and other officers)	71	64
Other	2,455	2,987
Total current liabilities	14,953	10,586
Non-current liabilities
Long-term borrowings	733	600
Deferred tax liabilities	153	196
Other	377	363
Total non-current liabilities	1,264	1,159
Total liabilities	16,218	11,746
Net assets
Shareholders' equity
Share capital	8,646	8,646
Capital surplus	12,017	12,018
Retained earnings	59,274	70,296
Treasury shares	(207)	(208)
Total shareholders' equity	79,732	90,753
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	104	92
Foreign currency translation adjustment	(155)	183
Total accumulated other comprehensive income	(51)	276
Total net assets	79,681	91,029
Total liabilities and net assets	95,899	102,775

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

Consolidated statements of income (cumulative)

		(Millions of yen)
	Nine months ended December 31, 2021	Nine months ended December 31, 2022
Net sales	40,070	44,577
Cost of sales	19,876	20,972
Gross profit	20,194	23,604
Selling, general and administrative expenses	6,833	7,565
Operating profit	13,361	16,039
Non-operating income
Interest income	45	62
Rental income	72	72
Foreign exchange gains	333	819
Other	55	38
Total non-operating income	507	993
Non-operating expenses
Interest expenses	6	4
Rent expenses on real estate for investments	33	33
Other	9	12
Total non-operating expenses	49	50
Ordinary profit	13,819	16,982
Extraordinary income
Gain on sale of non-current assets	3	0
Gain on liquidation of subsidiaries	-	3
Subsidy income	89	15
Total extraordinary income	92	19
Extraordinary losses
Loss on sale and retirement of non-current assets	17	32
Loss on tax purpose reduction entry of non-current assets	75	-
Loss related to infectious disease	41	-
Total extraordinary losses	133	32
Profit before income taxes	13,778	16,969
Income taxes - current	4,180	4,621
Income taxes - deferred	85	412
Total income taxes	4,266	5,034
Profit	9,511	11,934
Profit attributable to owners of parent	9,511	11,934

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Nine months ended December 31, 2021	Nine months ended December 31, 2022
Profit	9,511	11,934
Other comprehensive income
Valuation difference on available-for-sale securities	(0)	(12)
Foreign currency translation adjustment	320	339
Total other comprehensive income	319	327
Comprehensive income	9,831	12,261
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	9,831	12,261

 

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