Consolidated Financial Results for the Three Months Ended June 30, 2023
[Under Japanese GAAP]
Company name: Dexerials Corporation | Listing: | Tokyo Stock Exchange | July 31, 2023 | |
Security code: | 4980 | URL: | https://www.dexerials.jp/en | |
Representative: Yoshihisa Shinya, Representative Director and President | ||||
Contact: | Shinji Tomita, General Manager, PR&IR Department, Business Management Division | Phone: +81-285-39-7950 | ||
Quarterly Securities Report (Shihanki Hokokusho) filing date: | August 8, 2023 | |||
Scheduled date of dividend payment: | ‒ | |||
Preparation of supplementary briefing material on quarterly financial results: Yes | ||||
Investors meeting presentation for quarterly financial results: | Yes (For securities analysts and institutional investors) |
(Note) Amounts less than one million yen have been omitted.
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) | (Percentage indicates 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 | 20,858 | (22.1) | 4,864 | (41.4) | 4,665 | (35.4) | 3,224 | (30.8) | ||||||||
June 30, 2022 | 26,775 | 31.6 | 8,303 | 69.2 | 7,216 | 59.9 | 4,660 | 57.2 | ||||||||
Note: Comprehensive income | For the three months ended June 30, 2023: | ¥2,743 million | [(52.1%)] | |||||||||||||
For the three months ended June 30, 2022: | ¥5,723 million | [96.8%] | ||||||||||||||
Note: EBITDA | For the three months ended June 30, 2023: | ¥6,534 million | [(34.5%)] | |||||||||||||
For the three months ended June 30, 2022: | ¥9,979 million | [55.3%] | ||||||||||||||
Basic earnings per share | Diluted earnings per share | |||||||||||||||
Three months ended | Yen | Yen | ||||||||||||||
June 30, 2023 | 55.60 | 55.35 | ||||||||||||||
June 30, 2022 | 78.05 | 77.62 | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Capital to asset ratio | Net assets per share | |||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | ||||||||||||
June 30, 2023 | 124,688 | 74,395 | 59.0 | 1,267.90 | ||||||||||||
March 31, 2023 | 126,379 | 73,774 | 57.7 | 1,257.14 | ||||||||||||
Reference: Capital (Shareholders' equity + Accumulated other comprehensive income) | As of June 30, 2023: | ¥73,528 million | ||||||||||||||
As of March 31, 2023: | ¥72,896 million | |||||||||||||||
2. Dividends | ||||||||||||||||
Cash dividends per share | ||||||||||||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||||||||||||
Fiscal year | Yen | Yen | Yen | Yen | Yen | |||||||||||
Ended March 31, 2023 | ‒ | 30.00 | ‒ | 35.00 | 65.00 | |||||||||||
Ending March 31, 2024 | ‒ | |||||||||||||||
Fiscal year | 35.00 | ‒ | 40.00 | 75.00 | ||||||||||||
Ending March 31, 2024 (forecast) | ||||||||||||||||
Note: Revisions to dividend forecast published most recently: None |
3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024) (Percentage indicates year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||
owners of parent | per share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Fiscal year | 100,000 | (5.8) | 25,000 | (22.6) | 26,300 | (12.8) | 18,000 | (13.0) | 305.09 |
Note: Revisions to earnings forecast published most recently: None
For more information on the consolidated financial results for the three months ended June 30, 2023, please refer to the supplementary briefing material on quarterly financial results, Quarterly Securities Report for the first quarter to be filed on August 8, 2023, and other materials, which you can find on our website at https://www.dexerials.jp/en/ir/library/index.html.
[Notes]
- Changes in significant subsidiaries during the current period (Changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Application of accounting methods used specifically for preparing the quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates and restatements of prior period financial statements
(a) Changes in accounting policies due to the application of new or revised accounting standards: None
(b) Changes in accounting policies due to reasons other than above (a): | None |
(c) Changes in accounting estimates: | None |
(d) Restatements of prior period financial statements: | None |
(4) Number of shares of common stock issued | |||
(a) Number of shares issued (including treasury shares) | |||
As of June 30, 2023: | 61,029,400 shares | As of March 31, 2023: | 64,575,000 shares |
(b) Number of treasury shares | |||
As of June 30, 2023: | 3,037,721 shares | As of March 31, 2023: | 6,589,029 shares |
(c) Average number of shares of common stock during the period | |||
Three months ended June 30, 2023: | 57,987,315 shares | Three months ended June 30, 2022: | 59,702,350 shares |
Notes: 1. The number of shares issued as of June 30, 2023 has decreased by 3,545,600 shares as the number of shares issued increased by 5,000 shares upon the exercise of stock options but decreased by 3,550,600 shares upon the retirement of treasury shares during the three months ended June 30, 2023.
- As the Company has introduced a stock compensation plan which delivers shares with restrictions on transfer, the Company's treasury shares held mainly for the purpose of allotting them as restricted shares are included in the number of treasury shares at the end of the period (293,800 shares as of June 30, 2023 and 293,800 shares as of June 30, 2022).
- As the Company has introduced an Employee Stock Ownership Plan ("J-ESOP") and a Board Benefit Trust (BBT), the number of shares of the Company held by the trust account is included in the number of treasury shares as of the end of the period. In addition, the number of shares of the Company held by the Trust (an average of 5,105,983 shares for the three months ended June 30, 2023 and an average of 4,805,797 shares for the three months ended June 30, 2022) was included in the number of treasury shares to be deducted in the calculation of the average number of shares of common stock during the period.
- This quarterly consolidated financial results report is not subject to a quarterly review by certified public accountants or an audit firm.
- [Proper use of earnings forecast, and other special notes]
(Disclaimer with respect to earnings and other forecasts)
The forward-looking statements including results forecasts contained in this document are based on information currently available to the Company and certain assumptions that the Company deems reasonable. Accordingly, the Company does not intend to promise their achievement. Actual results may differ from these forecasts and forward-looking statements due to various factors.
Contents for Attached Materials | ||
1. Quarterly Consolidated Financial Statements and Notes | P. 2 | |
(1) | Quarterly consolidated balance sheet | P. 2 |
(2) | Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income | P. 4 |
Quarterly consolidated statement of income | ||
For the three months ended June 30, 2023 | P. 4 | |
Quarterly consolidated statement of comprehensive income | ||
For the three months ended June 30, 2023 | P. 5 | |
(3) | Notes to quarterly consolidated financial statements | P. 6 |
(Going concern assumption) | P. 6 | |
(Significant changes in shareholders' equity) | P. 6 | |
(Supplemental information) | P. 6 | |
(Segment information) | P. 7 | |
(Significant subsequent events) | P. 8 |
- 1 -
1. Quarterly Consolidated Financial Statements and Notes
(1) Quarterly consolidated balance sheet
(Millions of yen) | |||
Previous fiscal year | Current quarter | ||
(As of March 31, 2023) | (As of June 30, 2023) | ||
Assets | |||
Current assets: | |||
Cash and deposits | 29,286 | 28,617 | |
Notes and accounts receivable - trade | 13,126 | 14,214 | |
Electronically recorded monetary claims - operating | 342 | 329 | |
Merchandise and finished goods | 4,111 | 4,175 | |
Work in process | 2,883 | 3,115 | |
Raw materials and supplies | 4,358 | 4,882 | |
Other | 5,133 | 2,364 | |
Allowance for doubtful accounts | (2) | (3) | |
Total current assets | 59,238 | 57,696 | |
Non-current assets: | |||
Property, plant and equipment | |||
Buildings and structures | 27,709 | 27,730 | |
Accumulated depreciation | (13,976) | (14,121) | |
Buildings and structures, net | 13,732 | 13,608 | |
Machinery, equipment and vehicles | 40,475 | 40,773 | |
Accumulated depreciation | (33,308) | (33,788) | |
Machinery, equipment and vehicles, net | 7,167 | 6,985 | |
Land | 2,524 | 2,524 | |
Construction in progress | 6,646 | 7,196 | |
Other | 8,672 | 8,701 | |
Accumulated depreciation | (6,458) | (6,451) | |
Other, net | 2,214 | 2,249 | |
Total property, plant and equipment | 32,284 | 32,564 | |
Intangible assets: | |||
Goodwill | 21,444 | 20,873 | |
Patent right | 695 | 656 | |
Customer-related intangible assets | 2,884 | 2,839 | |
Other | 2,295 | 2,390 | |
Total intangible assets | 27,320 | 26,760 | |
Investments and other assets: | |||
Shares of subsidiaries and associates | 117 | 122 | |
Retirement benefit asset | 3,242 | 3,281 | |
Deferred tax assets | 2,389 | 2,431 | |
Other | 1,799 | 1,846 | |
Allowance for doubtful accounts | (13) | (14) | |
Total investments and other assets | 7,535 | 7,667 | |
Total non-current assets | 67,141 | 66,992 | |
Total assets | 126,379 | 124,688 |
- 2 -
(Millions of yen) | |||
Previous fiscal year | Current quarter | ||
(As of March 31, 2023) | (As of June 30, 2023) | ||
Liabilities | |||
Current liabilities: | |||
Notes and accounts payable - trade | 5,972 | 6,844 | |
Electronically recorded obligations - operating | 2,569 | 2,280 | |
Short-term borrowings | 2,000 | 2,000 | |
Current portion of long-term borrowings | 6,560 | 6,561 | |
Accounts payable - other | 7,817 | 6,145 | |
Accrued expenses | 856 | 1,212 | |
Income taxes payable | 4,705 | 962 | |
Provision for bonuses | 2,558 | 1,058 | |
Other | 2,034 | 6,864 | |
Total current liabilities | 35,074 | 33,929 | |
Non-current liabilities | |||
Long-term borrowings | 11,152 | 9,955 | |
Retirement benefit liability | 4,273 | 4,184 | |
Deferred tax liabilities | 1,323 | 1,395 | |
Other | 780 | 827 | |
Total non-current liabilities | 17,530 | 16,362 | |
Total liabilities | 52,605 | 50,292 | |
Net assets | |||
Shareholders' equity: | |||
Share capital | 16,194 | 16,196 | |
Capital surplus | 16,147 | 16,148 | |
Retained earnings | 52,663 | 42,380 | |
Treasury shares | (15,908) | (4,525) | |
Total shareholders' equity | 69,097 | 70,199 | |
Accumulated other comprehensive income: | |||
Deferred gains or losses on hedges | (26) | (1,538) | |
Foreign currency translation adjustment | 3,278 | 4,338 | |
Remeasurements of defined benefit plans | 547 | 527 | |
Total accumulated other comprehensive income | 3,799 | 3,328 | |
Non-controlling interests | 878 | 867 | |
Total net assets | 73,774 | 74,395 | |
Total liabilities and net assets | 126,379 | 124,688 |
- 3 -
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Dexerials Corporation published this content on 31 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2023 06:33:25 UTC.