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. |
Consolidated Financial Results for the First Six Months of
the Fiscal Year Ending December 31, 2020
(under IFRS)
July 31, 2020 | |
Company name: | GCA Corporation |
Listing: | Tokyo Stock Exchange First Section |
Securities code: | 2174 |
URL: | https://www.gcaglobal.co.jp |
Representative: | Akihiro Watanabe, Representative Director |
Inquiries: | Masaya Kato, Leader of Investor Relations Office |
TEL: | +81-3-6212-7140 |
Scheduled date of the submission of quarterly securities report: | August 7, 2020 |
Scheduled date to commence dividend payments: | August 14, 2020 |
Preparation of supplementary material on quarterly financial results: | Yes |
Holding of quarterly financial results presentation meeting: | Yes |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the first six months of the fiscal year ending December 31, 2020 (from January 1, 2020 to June 30, 2020)
(1) | Consolidated operating results (Non-GAAP) | (Percentages indicate year-on-year changes.) | ||||||||||||
Revenue | Operating profit | Profit before tax | Profit | |||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
June 30, 2020 | 6,225 | (33.1) | (87) | - | (149) | - | (64) | - | ||||||
June 30, 2019 | 9,312 | (10.7) | 1,372 | 13.8 | 1,341 | 10.6 | 931 | 8.2 | ||||||
Profit attributable to | Basic earnings | Diluted earnings | ||||||||||||
owners of parent | per share | per share | ||||||||||||
Six months ended | Millions of yen | % | Yen | Yen | ||||||||||
June 30, 2020 | (143) | - | (3.45) | (3.45) | ||||||||||
June 30, 2019 | 919 | 9.3 | 23.99 | 21.13 | ||||||||||
(2) | Consolidated operating results (IFRS) | (Percentages indicate year-on-year changes.) | ||||||||||||
Revenue | Operating profit | Profit before tax | Profit | |||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
June 30, 2020 | 6,245 | (32.9) | (227) | - | (289) | - | (204) | - | ||||||
June 30, 2019 | 9,312 | (10.7) | 1,362 | 14.1 | 1,332 | 10.8 | 922 | 8.6 | ||||||
Profit attributable to | Total comprehensive | Basic earnings | Diluted earnings | |||||||||||
owners of parent | income | per share | per share | |||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Yen | Yen | ||||||||
June 30, 2020 | (283) | - | (1,091) | (302.4) | (6.82) | (6.82) | ||||||||
June 30, 2019 | 909 | 9.7 | 539 | 280.1 | 23.74 | 20.91 |
(3) Consolidated financial position | |||||
Total assets | Total equity | Equity attributable to | Ratio of equity | ||
attributable to owners | |||||
owners of parent | |||||
of parent | |||||
As of | Millions of yen | Millions of yen | Millions of yen | % | |
June 30, 2020 | 30,638 | 20,760 | 20,433 | 66.7 | |
December 31, 2019 | 36,677 | 22,038 | 21,790 | 59.4 |
2. Cash dividends
Dividends per share | |||||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Annual total | |||||
Yen | Yen | Yen | Yen | Yen | |||||
Fiscal year ended | - | 17.50 | - | 17.50 | 35.00 | ||||
December 31, 2019 | |||||||||
Fiscal year ending | - | 17.50 | |||||||
December 31, 2020 | |||||||||
Fiscal year ending | |||||||||
December 31, 2020 | - | 17.50 | 35.00 | ||||||
(Forecast) | |||||||||
Note: Revisions to the forecast of cash dividends most recently announced: None
3. Consolidated earnings forecast for the fiscal year ending December 31, 2020 (from January 1, 2020 to December 31, 2020)
The consolidated earnings forecast for the fiscal year ending December 31, 2020, is not presented as it is unsettled. This earnings forecast will be promptly disclosed once it is determined.
- Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes
Newly included: two companies GB Corporation
GCA Altium Nordics Limited
(2) Changes in accounting policies and changes in accounting estimates
(i) | Changes in accounting policies required by IFRS: | None |
(ii) | Changes in accounting policies due to other reasons: | None |
(iii) | Changes in accounting estimates: | None |
(3) Number of issued shares (ordinary shares)
- Total number of issued shares at end of the period (including treasury shares)
As of June 30, 2020 | 43,886,153 shares |
As of December 31, 2019 | 41,175,375 shares |
(ii) Number of treasury shares at end of the period
As of June 30, 2020 | - shares |
As of December 31, 2019 | 1,964,922 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
For the six months ended June 30, 2020 | 41,576,608 shares |
For the six months ended June 30, 2019 | 38,317,865 shares |
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Explanation of appropriate use of earnings forecasts and other explanatory notes (Caution regarding forward-lookingstatements)
Earnings forecasts and other forward-looking statements indicated in these materials are based on information available at the time and on certain assumptions deemed reasonable. These statements do not represent any guarantee of achievement by the Company. Furthermore, there is the possibility of significant changes in actual earnings due to various factors.
GCA Corporation (2174)
Condensed Quarterly Consolidated Financial Statements
- Condensed quarterly consolidated statement of financial position
(Millions of yen) | |||
As of December 31, 2019 | As of June 30, 2020 | ||
Assets | |||
Current assets | |||
Cash and cash equivalents | 14,645 | 11,342 | |
Trade and other receivables | 2,983 | 1,200 | |
Other financial assets | 615 | 1,427 | |
Income taxes receivable | 440 | 372 | |
Other current assets | 446 | 384 | |
Total current assets | 19,130 | 14,727 | |
Non-current assets | |||
Property, plant and equipment | 4,599 | 4,391 | |
Goodwill and intangible assets | 9,785 | 9,026 | |
Other financial assets | 1,301 | 627 | |
Other non-current assets | 392 | 451 | |
Deferred tax assets | 1,468 | 1,414 | |
Total non-current assets | 17,546 | 15,910 | |
Total assets | 36,677 | 30,638 |
- 1 -
GCA Corporation (2174) | |||
(Millions of yen) | |||
As of December 31, 2019 | As of June 30, 2020 | ||
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Trade and other payables | 595 | 578 | |
Borrowings | 65 | 1,301 | |
Other financial liabilities | 874 | 926 | |
Income taxes payable | 970 | 299 | |
Other current liabilities | 8,603 | 1,868 | |
Total current liabilities | 11,109 | 4,974 | |
Non-current liabilities | |||
Borrowings | 16 | 1,497 | |
Other financial liabilities | 2,989 | 2,850 | |
Retirement benefit liability | 385 | 411 | |
Provisions | 133 | 133 | |
Other non-current liabilities | 3 | 9 | |
Total non-current liabilities | 3,529 | 4,903 | |
Total liabilities | 14,638 | 9,877 | |
Equity | |||
Share capital | 1,028 | 1,135 | |
Capital surplus | 13,735 | 12,682 | |
Retained earnings | 5,581 | 4,611 | |
Treasury shares | (1,585) | - | |
Other components of equity | 3,030 | 2,003 | |
Total equity attributable to owners of parent | 21,790 | 20,433 | |
Non-controlling interests | 248 | 327 | |
Total equity | 22,038 | 20,760 | |
Total liabilities and equity | 36,677 | 30,638 |
- 2 -
GCA Corporation (2174)
- Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement of comprehensive income
(Condensed quarterly consolidated statement of profit or loss)
(Millions of yen) | |||
Six months ended | Six months ended | ||
June 30, 2019 | June 30, 2020 | ||
Revenue | 9,312 | 6,245 | |
Cost of sales | (6,531) | (5,059) | |
Gross profit | 2,781 | 1,185 | |
Selling, general and administrative expenses | (1,385) | (1,535) | |
Other operating income | 1 | 193 | |
Other operating expenses | (34) | (71) | |
Operating profit (loss) | 1,362 | (227) | |
Finance income | 21 | 18 | |
Finance costs | (51) | (80) | |
Profit (loss) before tax | 1,332 | (289) | |
Income tax expense | (409) | 85 | |
Profit (loss) | 922 | (204) | |
Profit attributable to | |||
Owners of parent | 909 | (283) | |
Non-controlling interests | 12 | 79 | |
Profit (loss) | 922 | (204) | |
Earnings per share | |||
Basic earnings (loss) per share (Yen) | 23.74 | (6.82) | |
Diluted earnings (loss) per share (Yen) | 20.91 | (6.82) |
- 3 -
GCA Corporation (2174) | |||
(Condensed quarterly consolidated statement of comprehensive income) | (Millions of yen) | ||
Six months ended | Six months ended | ||
June 30, 2019 | June 30, 2020 | ||
Profit (loss) | 922 | (204) | |
Other comprehensive income | |||
Items that will not be reclassified to profit or loss | |||
Remeasurements of defined benefit plans | 0 | 0 | |
Total of items that will not be reclassified to profit or | 0 | 0 | |
loss | |||
Items that may be reclassified to profit or loss | |||
Exchange differences on translation of foreign | (382) | (887) | |
operations | |||
Total of items that may be reclassified to profit or | (382) | (887) | |
loss | |||
Other comprehensive income, net of tax | (382) | (887) | |
Comprehensive income | 539 | (1,091) | |
Comprehensive income attributable to | |||
Owners of parent | 526 | (1,170) | |
Non-controlling interests | 12 | 79 | |
Comprehensive income | 539 | (1,091) |
- 4 -
GCA Corporation (2174)
- Condensed quarterly consolidated statement of changes in equity
Six months ended June 30, 2019 (from January 1, 2019 to June 30, 2019)
(Millions of yen)
Equity attributable to owners of parent | |||||||||||||||
Other components of equity | |||||||||||||||
Exchange | |||||||||||||||
Share capital | Capital | Retained | Treasury | differences | Remeasure- | Share | Total other | ||||||||
on | ments of | ||||||||||||||
surplus | earnings | shares | acquisition | components | |||||||||||
translation of | defined | ||||||||||||||
rights | of equity | ||||||||||||||
foreign | benefit plans | ||||||||||||||
operations | |||||||||||||||
Balance as of January 1, 2019 | 304 | 13,855 | 4,613 | (795) | (389) | - | 3,513 | 3,123 | |||||||
Profit (loss) | 909 | ||||||||||||||
Other comprehensive | (382) | 0 | (382) | ||||||||||||
income | |||||||||||||||
Total comprehensive income | - | - | 909 | - | (382) | 0 | - | (382) | |||||||
Issuance of new shares | 452 | 452 | |||||||||||||
Dividends | (666) | ||||||||||||||
Purchase of treasury shares | (440) | ||||||||||||||
Share-based payment | (525) | (380) | (380) | ||||||||||||
transactions | |||||||||||||||
Increase (decrease) by | |||||||||||||||
business combination | |||||||||||||||
Transfer from other | |||||||||||||||
components of equity to | 0 | (0) | (0) | ||||||||||||
retained earnings |
Total transactions with owners
Balance as of June 30, 2019
Balance as of January 1, 2019 Profit (loss)
Other comprehensive income
Total comprehensive income
Issuance of new shares
Dividends
Purchase of treasury shares
Share-based payment transactions
Increase (decrease) by business combination
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance as of June 30, 2019
452 | (72) | (666) | (440) | - | (0) | (380) | (380) | |||||||||||||||
757 | 13,782 | 4,856 | (1,235) | (772) | - | 3,132 | 2,359 | |||||||||||||||
Equity attributable | ||||||||||||||||||||||
to owners of parent | Non-controlling interests | Total equity | ||||||||||||||||||||
Total | ||||||||||||||||||||||
21,101 | 187 | 21,289 | ||||||||||||||||||||
909 | 12 | 922 | ||||||||||||||||||||
(382) | (382) | |||||||||||||||||||||
526 | 12 | 539 | ||||||||||||||||||||
905 | 905 | |||||||||||||||||||||
(666) | (666) | |||||||||||||||||||||
(440) | (440) | |||||||||||||||||||||
(906) | (906) | |||||||||||||||||||||
- | - | |||||||||||||||||||||
- | - | |||||||||||||||||||||
(1,107) | - | (1,107) | ||||||||||||||||||||
20,521 | 200 | 20,721 |
- 5 -
GCA Corporation (2174)
Six months ended June 30, 2020 (from January 1, 2020 to June 30, 2020)
(Millions of yen)
Equity attributable to owners of parent | |||||||||||||||
Other components of equity | |||||||||||||||
Exchange | |||||||||||||||
Share capital | Capital | Retained | Treasury | differences | Remeasure- | Share | Total other | ||||||||
on | ments of | ||||||||||||||
surplus | earnings | shares | acquisition | components | |||||||||||
translation of | defined | ||||||||||||||
rights | of equity | ||||||||||||||
foreign | benefit plans | ||||||||||||||
operations | |||||||||||||||
Balance as of January 1, 2020 | 1,028 | 13,735 | 5,581 | (1,585) | (236) | - | 3,266 | 3,030 | |||||||
Profit (loss) | (283) | ||||||||||||||
Other comprehensive | (887) | 0 | (887) | ||||||||||||
income | |||||||||||||||
Total comprehensive income | - | - | (283) | - | (887) | 0 | - | (887) | |||||||
Issuance of new shares | 106 | (19) | (59) | (59) | |||||||||||
Dividends | (686) | ||||||||||||||
Purchase of treasury shares |
Share-based payment transactions
Increase (decrease) by business combination
Transfer from other components of equity to retained earnings
322 | (79) | (79) |
(1,356) | 1,585 | |
0 | (0) | (0) |
Total transactions with owners
Balance as of June 30, 2020
Balance as of January 1, 2020 Profit (loss)
Other comprehensive income
Total comprehensive income Issuance of new shares Dividends
Purchase of treasury shares
Share-based payment transactions
Increase (decrease) by business combination
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance as of June 30, 2020
106 | (1,053) | (686) | 1,585 | - | (0) | (138) | (138) | |||||||||||||||
1,135 | 12,682 | 4,611 | - | (1,123) | - | 3,127 | 2,003 | |||||||||||||||
Equity attributable | ||||||||||||||||||||||
to owners of parent | Non-controlling interests | Total equity | ||||||||||||||||||||
Total | ||||||||||||||||||||||
21,790 | 248 | 22,038 | ||||||||||||||||||||
(283) | 79 | (204) | ||||||||||||||||||||
(887) | (887) | |||||||||||||||||||||
(1,170) | 79 | (1,091) | ||||||||||||||||||||
27 | 27 | |||||||||||||||||||||
(686) | (686) | |||||||||||||||||||||
- | - | |||||||||||||||||||||
243 | 243 | |||||||||||||||||||||
228 | 228 | |||||||||||||||||||||
- | - | |||||||||||||||||||||
(186) | - | (186) | ||||||||||||||||||||
20,433 | 327 | 20,760 |
- 6 -
GCA Corporation (2174)
- Condensed quarterly consolidated statement of cash flows
(Millions of yen) | |||
Six months ended | Six months ended | ||
June 30, 2019 | June 30, 2020 | ||
Cash flows from operating activities | |||
Profit (loss) before tax | 1,332 | (289) | |
Loss (gain) on valuation of financial instruments | - | 32 | |
Depreciation and amortization | 574 | 616 | |
Interest and dividend income | (21) | (18) | |
Interest expenses | 51 | 48 | |
Share-based payment expenses | 9 | 327 | |
Gain on bargain purchase | - | (187) | |
Decrease (increase) in trade and other receivables | 1,412 | 1,739 | |
Increase (decrease) in trade and other payables | 149 | (5) | |
Increase (decrease) in other current liabilities | (7,398) | (6,368) | |
Other | 184 | (197) | |
Subtotal | (3,705) | (4,303) | |
Interest and dividends received | 21 | 18 | |
Interest paid | (51) | (48) | |
Income taxes refund (paid) | (704) | (545) | |
Net cash provided by (used in) operating activities | (4,440) | (4,878) | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (107) | (53) | |
Proceeds from purchase of shares of subsidiaries | - | 260 | |
Other | (4) | 26 | |
Net cash provided by (used in) investing activities | (111) | 233 | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term borrowings | - | 600 | |
Proceeds from long-term borrowings | - | 2,258 | |
Repayments of long-term borrowings | - | (132) | |
Proceeds from exercise of share acquisition rights | 1 | 29 | |
Payments for purchase of treasury shares | (440) | - | |
Dividends paid | (666) | (686) | |
Repayments of lease obligations | (418) | (485) | |
Other | (7) | (2) | |
Net cash provided by (used in) financing activities | (1,531) | 1,581 | |
Net increase (decrease) in cash and cash equivalents | (6,084) | (3,063) | |
Cash and cash equivalents at beginning of period | 15,829 | 14,645 | |
Effect of exchange rate changes on cash and cash | (275) | (238) | |
equivalents | |||
Cash and cash equivalents at end of period | 9,469 | 11,342 |
- 7 -
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GCA Corporation published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 06:25:00 UTC