Heiwa Real Estate : May 22, 2023Fact Book for Fiscal Year Ended March 31, 2023(1MB)

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Fiscal Year Ended March 31, 2023

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Consolidated Balance Sheets・・・ 01 Consolidated Statements of Profit and Loss ・・・ 03

Consolidated Statements of Cash Flow	・・・ 04
Segment Information	・・・ 06
Consolidated Financial Highlights	・・・ 07
Status of the Company's Principal Building	・・・ 08
Status of Shares	・・・ 11

Disclaimer

The information stated in this reference material was compiled based on data considered reasonable as of the date of compilation of this reference material, and is subject to various uncertain factors. Accordingly, we do not ensure or promise the accuracy or completeness of the information, and may revise the information without notice. We also bear no liability for any deficiencies or errors of the data or expressions used in this reference material.

Consolidated Balance Sheets

(Millions of yen)

2019/3

2020/3

2021/3

2022/3

2023/3

Assets
Current assets
Cash and deposits	9,810	15,766	29,685	23,211	20,908
Accounts receivable-trade	1,065	1,121	1,633	1,809	1,967
Marketable securities	3,128	13,002	16	5,014	6,999
Inventories	38,417	25,447	31,098	19,875	14,452
Operating investment	500	485	1,684	1,624	1,027
Other	3,347	3,192	3,850	2,038	1,300
Allowance for doubtful accounts	(2)	(2)	(26)	(25)	(24)
Total current assets	56,266	59,013	67,942	53,548	46,630
Fixed assets
Tangible fixed assets
Buildings and structures, net	75,530	75,182	74,133	82,947	86,217
Machinery, equipment and vehicles, net	330	366	327	492	480
Tools, furniture and fixtures, net	222	235	389	560	607
Land	137,634	144,010	154,043	163,624	190,497
Construction in progress	405	2,552	9,843	1,754	1,723
Total tangible fixed assets	214,124	222,347	238,737	249,379	279,526
Intangible fixed assets
Leasehold right	22,556	22,518	26,618	28,560	30,464
Other	124	107	97	251	193
Total Intangible fixed assets	22,681	22,625	26,716	28,811	30,658
Investments and other assets
Investment securities	37,551	30,751	43,265	39,066	34,632
Long-term loans receivable from employees	3	2	0	-	-
Deferred tax assets	184	189	155	156	226
Other	4,458	4,374	4,310	5,079	6,345
Allowance for doubtful accounts	(5)	(0)	(0)	-	-
Total investments and other assets	42,192	35,317	47,732	44,301	41,204
Total fixed assets	278,998	280,291	313,185	322,492	351,388
Deferred assets
Bond - issuing expenses	306	240	224	169	314
Total deferred assets	306	240	224	169	314
Total assets	335,572	339,545	381,353	376,210	398,333

Copyright©2023 HEIWA REAL ESTATE CO.,LTD All Rights Reserved.

01

Consolidated Balance Sheets

(Millions of yen)

2019/3

2020/3

2021/3

2022/3

2023/3

Liabilities

Current liabilities Accounts payable-trade Current portion of bonds Short-term loans payable

Current portion of long-term loans Accrued corporation and other taxes Accrued consumption taxes Accrued bonuses for directors Accrued bonuses

Other

Total current liabilities Long-term liabilities

Bonds

Long-term loans payable

Long-term deposits received and landlorddeposits

Deferred tax liabilities

Deferred tax liabilities cocerning revaluation

Long-term accounts payable

Provision

Net defined benefit liability

Asset retirement obligations

Other

Total long-term liabilities

Total liabilities

Net assets

Shareholders' equity Common stock Additional paid-in capital Retained earnings Treasury stock, at cost Total shareholders'equity

Accumulated other comprehensive income Unrealized gain on securities

Land revaluation surplus

Total accumulated other comprehensiveincome

Total net assets

Total liabilities and net assets

1,409	2,236	1,818	3,367	5,727
4,824	2,092	1,891	4,327	3,648
11,250	6,250	9,250	3,800	3,800
14,093	5,736	26,961	13,077	15,727
582	2,509	337	3,300	2,618
74	1,397	77	96	642
67	68	86	118	134
214	211	213	250	256
1,773	1,749	1,755	2,372	1,988
34,290	22,251	42,391	30,710	34,543
25,199	23,107	28,216	23,889	27,989
129,305	145,791	145,408	157,143	170,880
21,253	22,188	22,829	22,514	23,524
7,865	6,264	11,378	10,170	8,849
7,663	7,663	7,663	7,613	7,314
4	4,004	4,000	4,000	4,850
-	24	47	101	147
258	292	115	119	234
653	655	662	669	676
2	1	0	-	-
192,206	209,992	220,322	226,221	244,466
226,496	232,243	262,713	256,931	279,009
21,492	21,492	21,492	21,492	21,492
19,720	19,720	19,720	19,720	19,720
38,665	39,996	44,740	50,258	56,298
(3,030)	(2,487)	(4,496)	(7,306)	(9,997)
76,848	78,722	81,457	84,165	87,513
15,231	11,584	20,187	18,068	15,443
16,995	16,995	16,995	17,045	16,366
32,227	28,579	37,182	35,113	31,810
109,075	107,302	118,639	119,278	119,324
335,572	339,545	381,353	376,210	398,333

Copyright©2023 HEIWA REAL ESTATE CO.,LTD All Rights Reserved.

02

Consolidated Statements of Profit and Loss

2019/3

2020/3

2021/3

2022/3

(Millions of yen)

2023/3

Operating revenue	39,480	46,639	35,048	57,818	44,522
Cost of sales	25,927	31,548	19,687	40,126	28,242
Gross profit	13,552	15,091	15,361	17,691	16,279
Selling, general and administrative expenses	4,217	4,187	4,132	5,076	5,495
Operating income	9,335	10,903	11,228	12,615	10,784
Non-operating income
Interest income	7	14	10	5	6
Dividends earned	486	471	445	534	539
Miscellaneous non-operating income	29	23	65	45	30
Total non-operating income	524	509	522	585	575
Non-operating expenses
Interest expenses	1,253	1,256	1,331	1,414	1,480
Amortization of bond issuance cost	71	64	54	56	56
Miscellaneous non-operating expenses	104	86	120	158	175
Total non-operating expenses	1,429	1,407	1,506	1,628	1,713
Ordinary income	8,430	10,006	10,244	11,572	9,647
Extraordinary income
Gain on sales of fixed assets	1,315	256	-	344	-
Gain on sales of investment securities	-	-	-	761	3,543
Gain on sale of businesses	-	-	-	-	240
Subsidy income	55	-	-	-	44
Total extraordinary income	1,371	256	-	1,106	3,827
Extraordinary loss
Loss on sales of fixed assets	-	-	1	-	-
Loss on disposal of fixed assets	36	18	18	49	61
Loss on reduction of fixed assets	55	-	-	-	44
Loss on valuation of investment securities	-	85	-	-	-
Loss resulting from illicit transactions *1	-	177	-	-	-
Loss on revaluation of operating investments	-	-	-	82	-
Litigation settlement	9	8	8	2	108
Total extraordinary loss	101	289	27	133	214
Income before income taxes	9,700	9,972	10,216	12,544	13,260
Corporation,inhabitants and enterprise taxes	1,800	3,146	1,746	4,113	4,655
Deferred income taxes	1,725	(219)	1,351	(274)	(532)
Total income taxes	3,526	2,926	3,097	3,839	4,123
Net income	6,174	7,046	7,118	8,705	9,137
Net income attributable to owners of parent	6,174	7,046	7,118	8,705	9,137

*1 Based on the findings of an investigative report (disclosed in Japanese on December 12, 2019) submitted by an internal investigation committee set up by the Company, extraordinary losses were recorded to reflect the amount of the impact of illicit transactions conducted by employees of the Company on net assets and other financial results.

*2 The amounts for the year ended March 31, 2022, and thereafter have been adjusted to reflect the Company's adoption, effective from April 1, 2021, of the Accounting Standard for Revenue Recognition (Statement No. 29) issued by the Accounting Standards Board of Japan on March 31, 2020.

Copyright©2023 HEIWA REAL ESTATE CO.,LTD All Rights Reserved.

03

Consolidated Statements of Cash Flow

(Millions of yen)

2019/3

2020/3

2021/3

2022/3

2023/3

Cash flows from operating activities
Income before income taxes	9,700	9,972	10,216	12,544	13,260
Depreciation	4,766	4,814	5,077	5,418	5,668
Loss on disposal of fixed assets	36	18	18	49	61
Impairment loss	9	8	8	2	108
Loss (gain) on sale of businesses	-	-	-	-	(240)
Loss (gain) on valuation of investment securities	-	85	-	-	-
Loss resulting from illicit transactions	-	177	-	-	-
Increase (decrease) in allowance for doubtful accounts	(1)	(4)	24	(1)	(0)
Increase (decrease) in accrued bonuses	15	(3)	2	36	6
Increase (decrease) in net defined benefit liability	(10)	33	(176)	4	114
Interest income and dividends earned	(494)	(485)	(456)	(540)	(545)
Interest expense	1,253	1,256	1,331	1,414	1,480
Amortization of bond-issuing expenses	71	64	54	56	56
Loss (gain) on sales of investment securities	-	-	-	(761)	(3,543)
Loss (gain) on sale of fixed assets	(1,315)	(256)	1	(344)	-
Decrease (increase) in notes and accounts receivable-trade	(108)	(56)	(512)	(175)	(157)
Decrease (increase) in inventories	(23,880)	12,881	(410)	18,578	11,012
Decrease (increase) in operating investment	(73)	14	(1,199)	60	597
Decrease (increase) in prepaid expenses	(17)	0	6	(25)	0
Increase (decrease) in accounts receivable-other	(347)	333	(758)	(895)	1,323
Increase (decrease) in notes and accounts payable-trade	42	17	(188)	274	(55)
Increase (decrease) in advances received	15	174	49	(66)	12
Increase (decrease) in accrued consumption taxes	(379)	1,323	(1,320)	19	545
Increase (decrease) in deposits received	73	(124)	(14)	633	(544)
Increase (decrease) in deposits received and deposits of landlord	453	803	609	(281)	1,006
Other	143	(291)	793	144	35
Subtotal	(10,049)	30,756	13,157	36,144	30,203
Interest and dividends income received	490	479	462	540	522
Interest expenses paid	(1,244)	(1,261)	(1,320)	(1,407)	(1,457)
Income taxes paid	(1,976)	(1,293)	(4,006)	(1,088)	(5,315)
Net cash provided by (used in) operating activities	(12,780)	28,680	8,292	34,189	23,952

Copyright©2023 HEIWA REAL ESTATE CO.,LTD All Rights Reserved.

04