Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
August 10, 2023
Consolidated Financial Results | |
for the Three Months Ended June 30, 2023 | |
(Under Japanese GAAP) | |
Company name: | DAIKEN CORPORATION |
Listing: | Tokyo Stock Exchange |
Securities code: | 7905 |
URL: | https://www.daiken.jp/ |
Representative: | Masanori Okuda, Representative Director, President |
Inquiries: | Yasunori Koga, General Manager Accounting Department |
Telephone: | +81-6-6205-7194 |
Scheduled date to file quarterly securities report: | August 10, 2023 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on quarterly financial results: None | |
Holding of quarterly financial results briefing: | None |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | ||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
June 30, 2023 | 50,762 | (16.4) | (543) | - | 493 | (91.2) | 186 | (89.0) | |
June 30, 2022 | 60,706 | 14.8 | 5,013 | 15.6 | 5,615 | 19.4 | 1,704 | (26.9) | |
Note: Comprehensive income | For the three months ended June 30, 2023: | ¥4,922 million | [(30.1)%] | ||
For the three months ended June 30, 2022: | ¥7,037 million | [138.6%] | |||
Basic earnings | Diluted earnings | ||||
per share | per share | ||||
Three months ended | Yen | Yen | |||
June 30, 2023 | 7.16 | - | |||
June 30, 2022 | 65.43 | - | |||
(2) Consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | |
As of | Millions of yen | Millions of yen | % |
June 30, 2023 | 190,439 | 95,676 | 45.3 |
March 31, 2023 | 185,797 | 92,318 | 45.0 |
Reference: Equity | |||
As of June 30, 2023: | ¥86,198 million | ||
As of March 31, 2023: | ¥83,523 million |
2. Cash dividends
Annual dividends per share | |||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended | - | 50.00 | - | 60.00 | 110.00 | ||
March 31, 2023 | |||||||
Fiscal year ending | - | ||||||
March 31, 2024 | |||||||
Fiscal year ending | |||||||
March 31, 2024 | 60.00 | - | 0.00 | 60.00 | |||
(Forecast) | |||||||
Note: Revisions to the forecast of cash dividends most recently announced: Yes
3. Earnings forecast of consolidated financial results for fiscal year ending March 31, 2024 (From April 1, 2023 to March 31, 2024)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Profit per | |||||
owners of parent | share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending | 114,000 | (5.2) | 2,800 | (66.3) | 4,200 | (57.7) | 1,900 | (75.6) | 72.86 |
September 30, 2023 | |||||||||
Full year | 235,000 | 2.7 | 8,000 | (18.8) | 10,900 | (16.2) | 6,000 | (41.9) | 230.07 |
Note: Revisions of forecast of financial results from recently announced figures: None
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023
As of March 31, 2023
27,080,043 shares
27,080,043 shares
- Number of treasury shares at the end of the period
As of June 30, 2023
As of March 31, 2023
1,008,155 shares
1,008,155 shares
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2023
Three months ended June 30, 2022
26,071,888 shares
26,057,548 shares
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Explanation for the appropriate use of performance forecasts and other special notes: (Cautionary note on forward-looking statement)
The statements regarding forecast of financial results in this report are based on the information that is available to the Company, as well as certain assumptions that are deemed to be reasonable by management, and they are not meant to be a commitment by the Company. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors.
(Millions of yen) | ||
As of March 31, 2023 | As of June 30, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 19,574 | 20,800 |
Notes and accounts receivable - trade, | 32,177 | 32,778 |
and contract assets | ||
Electronically recorded monetary claims - | 13,941 | 13,134 |
operating | ||
Merchandise and finished goods | 22,167 | 22,039 |
Work in process | 3,513 | 3,336 |
Raw materials and supplies | 10,650 | 11,426 |
Other | 5,372 | 4,818 |
Allowance for doubtful accounts | (161) | (158) |
Total current assets | 107,236 | 108,175 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 8,874 | 8,821 |
Machinery, equipment and vehicles, net | 14,508 | 14,749 |
Land | 12,995 | 13,076 |
Construction in progress | 912 | 1,137 |
Other, net | 2,475 | 2,527 |
Total property, plant and equipment | 39,765 | 40,313 |
Intangible assets | ||
Goodwill | 10,145 | 10,608 |
Software | 1,360 | 1,627 |
Other | 2,000 | 1,845 |
Total intangible assets | 13,506 | 14,081 |
Investments and other assets | ||
Investment securities | 19,621 | 22,214 |
Retirement benefit asset | 2,959 | 2,854 |
Deferred tax assets | 1,263 | 1,353 |
Other | 1,479 | 1,481 |
Allowance for doubtful accounts | (43) | (42) |
Total investments and other assets | 25,280 | 27,862 |
Total non-current assets | 78,552 | 82,257 |
Deferred assets | 7 | 6 |
Total assets | 185,797 | 190,439 |
- 1 -
(Millions of yen) | ||
As of March 31, 2023 | As of June 30, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 15,738 | 15,380 |
Electronically recorded obligations - | 12,096 | 11,492 |
operating | ||
Short-term borrowings | 11,252 | 14,447 |
Current portion of long-term borrowings | 5,817 | 5,815 |
Accounts payable - other | 21,313 | 19,853 |
Income taxes payable | 698 | 323 |
Provision for bonuses | 2,383 | 1,200 |
Provision for product warranties | 258 | 253 |
Other | 5,380 | 7,710 |
Total current liabilities | 74,939 | 76,476 |
Non-current liabilities | ||
Bonds payable | 5,000 | 5,000 |
Long-term borrowings | 7,500 | 6,664 |
Deferred tax liabilities | 861 | 1,404 |
Provision for product warranties | 609 | 603 |
Retirement benefit liability | 3,426 | 3,444 |
Provision for loss on litigation | 447 | 447 |
Negative goodwill | 10 | 10 |
Other | 684 | 714 |
Total non-current liabilities | 18,539 | 18,287 |
Total liabilities | 93,478 | 94,763 |
Net assets | ||
Shareholders' equity | ||
Share capital | 15,300 | 15,300 |
Capital surplus | 13,965 | 13,965 |
Retained earnings | 46,089 | 44,712 |
Treasury shares | (1,345) | (1,345) |
Total shareholders' equity | 74,009 | 72,632 |
Accumulated other comprehensive income | ||
Valuation difference on available-for- | 2,902 | 3,809 |
sale securities | ||
Deferred gains or losses on hedges | (40) | 42 |
Foreign currency translation adjustment | 4,934 | 8,065 |
Remeasurements of defined benefit plans | 1,717 | 1,648 |
Total accumulated other comprehensive | 9,513 | 13,566 |
income | ||
Non-controlling interests | 8,794 | 9,477 |
Total net assets | 92,318 | 95,676 |
Total liabilities and net assets | 185,797 | 190,439 |
- 2 -
(Millions of yen) | |||
Three months ended | Three months ended | ||
June 30, 2022 | June 30, 2023 | ||
Net sales | 60,706 | 50,762 | |
Cost of sales | 43,089 | 39,774 | |
Gross profit | 17,616 | 10,987 | |
Selling, general and administrative expenses | 12,602 | 11,531 | |
Operating profit (loss) | 5,013 | (543) | |
Non-operating income | |||
Interest income | 46 | 87 | |
Dividend income | 144 | 141 | |
Amortization of negative goodwill | 0 | 0 | |
Share of profit of entities accounted for | 19 | 445 | |
using equity method | |||
Foreign exchange gains | 238 | 278 | |
Other | 222 | 162 | |
Total non-operating income | 672 | 1,116 | |
Non-operating expenses | |||
Interest expenses | 49 | 24 | |
Loss on sale of trade receivables | 2 | 2 | |
Other | 19 | 51 | |
Total non-operating expenses | 71 | 78 | |
Ordinary profit | 5,615 | 493 | |
Extraordinary income | |||
Gain on sale of non-current assets | 46 | 0 | |
Total extraordinary income | 46 | 0 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 72 | 31 | |
Loss on valuation of investment securities | 18 | 10 | |
Other | 1 | - | |
Total extraordinary losses | 91 | 41 | |
Profit before income taxes | 5,569 | 451 | |
Income taxes - current | 1,738 | 270 | |
Income taxes - deferred | (169) | (68) | |
Total income taxes | 1,569 | 201 | |
Profit | 4,000 | 249 | |
Profit attributable to non-controlling | 2,295 | 63 | |
interests | |||
Profit attributable to owners of parent | 1,704 | 186 | |
- 3 -
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Daiken Corporation published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 07:08:39 UTC.