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 May 31, 2022 (Based on Japanese GAAP)
July 7, 2022 | ||||
Company name: | CREEK & RIVER Co., Ltd. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 4763 | URL https://www.cri.co.jp | ||
Representative: | President and Representative Director | Yukihiro Ikawa | ||
Inquiries: | Director | Jun Kurosaki | TEL 03-4550-0011 | |
Scheduled date to file Quarterly Securities Report: | July 13, 2022 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | Yes | |||
Holding of quarterly financial results meeting: | Yes |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended May 31, 2022 (from March 1, 2022 to May 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 | % | |||||||||
Three months ended May 31, 2022 | 11,371 | 7.3 | 1,687 | 37.1 | 1,695 | 35.9 | 1,244 | 41.3 | ||||||||
Three months ended May 31, 2021 | 10,599 | 11.7 | 1,230 | 17.3 | 1,247 | 17.3 | 881 | 24.1 | ||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||
Yen | Yen | |||||||||||||||
Three months ended May 31, 2022 | 55.85 | 55.32 | ||||||||||||||
Three months ended May 31, 2021 | 39.52 | 39.49 | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||
Millions of yen | Millions of yen | % | ||||||||||||||
As of May 31, 2022 | 21,307 | 13,084 | 60.4 | |||||||||||||
As of February 28, 2022 | 19,930 | 12,238 | 60.5 | |||||||||||||
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 February 28, 2022 | - | 0.00 | - | 20.00 | 20.00 | |||||||||||
Year ending February 28, 2023 | - | |||||||||||||||
Year ending February 28, 2023 (Forecast) | 0.00 | - | 23.00 | 23.00 |
3. Forecast of consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
23,000 | 9.3 | 2,500 | 15.9 | 2,500 | 15.0 | 1,600 | 13.8 | 71.78 | |
August 31, 2022 | |||||||||
Full year | 44,000 | 5.3 | 4,000 | 17.2 | 4,000 | 17.0 | 2,500 | 12.4 | 112.15 |
1
4. Notes
- Changes in significant subsidiaries during the three months ended May 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
Yes
(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 May 31, 2022 | 23,009,000 | shares | As of February 28, 2022 | 23,009,000 | shares | |
Number of treasury shares at the end of the period | ||||||
As of May 31, 2022 | 717,745 | shares | As of February 28, 2022 | 717,700 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended May 31, 2022 | 22,291,277 | shares | Three months ended May 31, 2021 | 22,291,333 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 9,204,599 | 9,819,469 | |
Notes and accounts receivable - trade | 5,434,336 | - | |
Notes and accounts receivable - trade, and contract assets | - | 6,001,796 | |
Merchandise | 24,903 | 16,856 | |
Finished goods | 17,469 | 11,393 | |
Work in process | 192,036 | 85,569 | |
Supplies | 4,663 | 4,001 | |
Other | 698,184 | 763,326 | |
Allowance for doubtful accounts | (44,607) | (46,777) | |
Total current assets | 15,531,586 | 16,655,636 | |
Non-current assets | |||
Property, plant and equipment | 643,143 | 626,699 | |
Intangible assets | |||
Goodwill | 157,102 | 441,445 | |
Software | 421,023 | 433,325 | |
Other | 139,352 | 181,112 | |
Total intangible assets | 717,478 | 1,055,883 | |
Investments and other assets | |||
Investment securities | 911,557 | 943,143 | |
Investments in capital | 333,510 | 335,510 | |
Leasehold and guarantee deposits | 889,045 | 884,731 | |
Deferred tax assets | 425,359 | 320,970 | |
Other | 577,773 | 583,020 | |
Allowance for doubtful accounts | (99,324) | (97,869) | |
Total investments and other assets | 3,037,921 | 2,969,506 | |
Total non-current assets | 4,398,544 | 4,652,089 | |
Total assets | 19,930,130 | 21,307,725 | |
Liabilities | |||
Current liabilities | |||
Trade accounts payable | 2,533,852 | 2,277,159 | |
Short-term borrowings | 850,121 | 860,260 | |
Current portion of long-term borrowings | 114,784 | 122,428 | |
Income taxes payable | 537,365 | 498,921 | |
Accrued consumption taxes | 593,945 | 763,852 | |
Accrued expenses | 638,106 | 927,579 | |
Provision for bonuses | 417,809 | 338,035 | |
Guarantee implementation reserve | 19,247 | - | |
Other | 934,212 | 1,278,580 | |
Total current liabilities | 6,639,445 | 7,066,817 | |
Non-current liabilities | |||
Long-term borrowings | 645,768 | 696,705 | |
Retirement benefit liability | 78,726 | 79,179 | |
Provision for share awards | 217,686 | 273,563 | |
Other | 109,915 | 106,969 | |
Total non-current liabilities | 1,052,095 | 1,156,417 | |
Total liabilities | 7,691,541 | 8,223,234 |
3
(Thousands of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Net assets | |||
Shareholders' equity | |||
Share capital | 1,177,194 | 1,177,194 | |
Capital surplus | 2,250,451 | 2,250,451 | |
Retained earnings | 9,008,755 | 9,796,678 | |
Treasury shares | (476,070) | (476,168) | |
Total shareholders' equity | 11,960,332 | 12,748,157 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 61,494 | 83,408 | |
Foreign currency translation adjustment | 34,007 | 44,904 | |
Total accumulated other comprehensive income | 95,501 | 128,312 | |
Share acquisition rights | 800 | 800 | |
Non-controlling interests | 181,955 | 207,220 | |
Total net assets | 12,238,589 | 13,084,490 | |
Total liabilities and net assets | 19,930,130 | 21,307,725 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | |||
Three months ended | Three months ended | ||
May 31, 2021 | May 31, 2022 | ||
Net sales | 10,599,172 | 11,371,273 | |
Cost of sales | 6,415,852 | 6,514,244 | |
Gross profit | 4,183,320 | 4,857,029 | |
Selling, general and administrative expenses | 2,952,668 | 3,169,530 | |
Operating profit | 1,230,652 | 1,687,498 | |
Non-operating income | |||
Interest income | 1,291 | 1,588 | |
Foreign exchange gains | - | 828 | |
Surrender value of insurance policies | 332 | - | |
Subsidy income | 8,617 | 999 | |
Share of profit of entities accounted for using equity method | 3,847 | 8,930 | |
Miscellaneous income | 2,334 | 463 | |
Other | 3,443 | 302 | |
Total non-operating income | 19,867 | 13,113 | |
Non-operating expenses | |||
Interest expenses | 1,511 | 1,207 | |
Foreign exchange losses | 1 | - | |
Provision of allowance for doubtful accounts | 1,873 | - | |
Miscellaneous losses | - | 3,424 | |
Other | 49 | 606 | |
Total non-operating expenses | 3,436 | 5,238 | |
Ordinary profit | 1,247,083 | 1,695,372 | |
Extraordinary income | |||
Gain on sale of investment securities | 14,825 | - | |
Gain on sale of shares of subsidiaries | 1,000 | - | |
Gain on reversal of share acquisition rights | 5,750 | - | |
Gain on bargain purchase | 552 | - | |
Gain on step acquisitions | - | 95,900 | |
Total extraordinary income | 22,127 | 95,900 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 48 | 25 | |
Office relocation expenses | - | 1,591 | |
Loss due to new corona virus infection | 507 | 1,362 | |
Total extraordinary losses | 556 | 2,978 | |
Profit before income taxes | 1,268,654 | 1,788,294 | |
Income taxes - current | 266,965 | 441,456 | |
Income taxes - deferred | 115,386 | 95,881 | |
Total income taxes | 382,351 | 537,338 | |
Profit | 886,302 | 1,250,955 | |
Profit attributable to non-controlling interests | 5,300 | 6,038 | |
Profit attributable to owners of parent | 881,002 | 1,244,916 |
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Creek & River Co. Ltd. published this content on 08 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2022 07:03:08 UTC.