Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Year Ended March 31, 2023
[Japanese GAAP]
May 15, 2023 | |||||||||||||
Company name: IWATANI CORPORATION | |||||||||||||
Stock exchange listing: Tokyo | |||||||||||||
Code number: 8088 | |||||||||||||
URL: https://www.iwatani.co.jp/ | |||||||||||||
Representative: | Hiroshi Majima | President | |||||||||||
Contact: | Tetsuo Matsuo | General Manager Accounting Dept. | |||||||||||
Phone: 06-7637-3325 | |||||||||||||
Scheduled date of Annual General Meeting of Shareholders: June 21, 2023 | |||||||||||||
Scheduled date of commencing dividend payments: June 22, 2023 | |||||||||||||
Scheduled date of filing annual securities report: June 22, 2023 | |||||||||||||
Availability of supplementary briefing material on annual financial results: Yes | |||||||||||||
Schedule of annual financial results briefing session: Yes | |||||||||||||
(Amounts of less than one million yen are rounded down) | |||||||||||||
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 01, 2022 to March 31, 2023) | |||||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||
owners of parent | |||||||||||||
Fiscal year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
March 31, 2023 | 906,261 | 31.3 | 40,035 | (0.1) | 47,011 | 1.3 | 32,022 | 6.9 | |||||
March 31, 2022 | 690,392 | 22.8 | 40,076 | 36.5 | 46,413 | 35.9 | 29,964 | 30.1 |
(Note) Comprehensive income: | Fiscal year ended March 31, 2023: |
Fiscal year ended March 31, 2022: |
¥ | 38,002 million | [ | 20.7%] |
¥ | 31,491 million | [ | (11.2) %] |
Basic earnings per | Diluted earnings per | Rate of return on | Ordinary profit to | Operating profit to | |
share | share | equity | total assets ratio | net sales ratio | |
Fiscal year ended | Yen | Yen | % | % | % |
March 31, 2023 | 556.69 | - | 11.2 | 7.7 | 4.4 |
March 31, 2022 | 520.98 | - | 11.7 | 8.7 | 5.8 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2023: Fiscal year ended March 31, 2022:
- 927 million
- 720 million
(2) Consolidated Financial Position
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||
As of | Million yen | Million yen | % | Yen | |
March 31, 2023 | 656,003 | 312,230 | 46.0 | 5,249.53 | |
March 31, 2022 | 558,479 | 280,307 | 48.4 | 4,696.56 | |
(Reference) Equity: As of | March 31, 2023: | ¥ | 301,976 million | ||
As of | March 31, 2022: | ¥ | 270,128 million | ||
(3) Consolidated Cash Flows | |||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||
equivalents at the end | |||||
operating activities | investing activities | financing activities | |||
of period | |||||
Fiscal year ended | Million yen | Million yen | Million yen | Million yen | |
March 31, 2023 | 51,471 | (60,286) | 11,032 | 33,256 | |
March 31, 2022 | 13,075 | (31,939) | 8,038 | 29,574 |
2. Dividends
Annual dividends | Payout | Dividends | |||||||||
Total | to net | ||||||||||
ratio | |||||||||||
1st | 2nd | 3rd | Year-end | Total | dividends | assets | |||||
(consolidated) | |||||||||||
quarter-end | quarter-end | quarter-end | (consolidated) | ||||||||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | Million yen | % | % | |||
March 31, 2022 | - | - | - | 85.00 | 85.00 | 4,893 | 16.3 | 1.9 | |||
March 31, 2023 | - | - | - | 95.00 | 95.00 | 5,470 | 17.1 | 1.9 | |||
Fiscal year ending | |||||||||||
March 31, 2024 | - | - | - | 95.00 | 95.00 | 16.3 | |||||
(Forecast) | |||||||||||
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 01, 2023 to March 31, 2024)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings per | ||||||
owners of parent | share | |||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
Full year | 907,000 | 0.1 | 45,000 | 12.4 | 50,300 | 7.0 | 33,500 | 4.6 | 582.36 |
* Notes:
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: No
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
March 31, 2023: | 58,561,649 | shares |
March 31, 2022: | 58,561,649 | shares |
2) Number of treasury shares at the end of the period: | ||
March 31, 2023: | 1,037,177 | shares |
March 31, 2022: | 1,045,396 | shares |
3) Average number of shares outstanding during the period: | ||
Fiscal Year ended March 31, 2023: | 57,522,828 | shares |
Fiscal Year ended March 31, 2022: | 57,516,915 | shares |
(Reference) Summary of Non-consolidated Financial Results | |||||||||||||
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 01, 2022 to March 31, 2023) | |||||||||||||
(1) Non-consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Net income | ||||||||||
Fiscal year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
March 31, 2023 | 587,069 | 26.7 | 11,955 | (41.3) | 26,305 | (20.2) | 20,399 | (19.1) | |||||
March 31, 2022 | 463,492 | 28.2 | 20,361 | 71.1 | 32,945 | 53.0 | 25,207 | 42.8 | |||||
Basic earnings per share | Diluted earnings per share | ||||||||||||
Fiscal year ended | Yen | Yen | |||||||||||
March 31, 2023 | 354.29 | - | |||||||||||
March 31, 2022 | 437.86 | - | |||||||||||
(2) Non-consolidated Financial Position | |||||||||||||
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||||||||||
As of | Million yen | Million yen | % | Yen | |||||||||
March 31, 2023 | 440,393 | 208,223 | 47.3 | 3,616.28 | |||||||||
March 31, 2022 | 386,759 | 191,701 | 49.6 | 3,329.81 | |||||||||
(Reference) Equity: As of | March 31, 2023: | ¥ | 208,223 million | ||||||||||
As of | March 31, 2022: | ¥ | 191,701 million |
*1. This document is unaudited by certified public accountants or audit firms.
*2. Earnings forecasts in this release are based on currently available information and assumptions deemed rational. A variety of factors could cause actual results to differ materially from forecasts.
Contents
Overview of Operating Results, Etc.・・・・・・・・・・・・・・・・・・・・・・・・・・2
- Overview of Operating Results for the Fiscal Year under Review・・・・・・・・・・・・ 2
- Segment Information ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・3
- Overview of Financial Position for the Fiscal Year under Review・・・・・・・・・・・・4
- Overview of Cash Flows for the Fiscal Year under Review・・・・・・・・・・・・・・・4
- Future Outlook・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・6
Basic Policy on Selection of Accounting Standards・・・・・・・・・・・・・・・・・・・・6
Consolidated Financial Statements and Notes・・・・・・・・・・・・・・・・・・・・・・7
- Consolidated Balance Sheets・・・・・・・・・・・・・・・・・・・・・・・・・・ 7
- Consolidated Statements of Income and Comprehensive Income・・・・・・・・ ・・・・9
- Consolidated Statements of Changes in Net Assets・・・・・・・・・・・・・・・・・・12
- Consolidated Statements of Cash Flows・・・・・・・・・・・・・・・・・・・・・・14
- Explanatory Notes to Consolidated Financial Statements・・・・・・・・・・・・・・・ 16 (Notes on the Assumption of a Going Concern)・・・・・・・・・・・・・・・・・・・ 16 (Changes in Presentation Methods)・・・・・・・・・・・・・・・・・・・・・・・・16 (Segment Information)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・16 (Business Combination) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・19 (Per Share Information)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 25 (Significant Subsequent Events)・・・・・・・・・・・・・・・・・・・・・・・・・・ 25
Additional Information・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・26
Results for FY2022 and Forecasts for FY2023・・・・・・・・・・・・・・・・・・・・・26
- Consolidated Statements of Income・・・・・・・・・・・・・・・・・・・・・・・・26
- Ordinary Profit Except for Impact of LPG Import Price Fluctuation・・・・・・・・・・・26
- LPG Import Price (CP)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・26
- Segment Information・・・・・・・・・・・・・・・・・・・・・・・・・・・・・26
- LPG and Industrial Gases Net Sales -Sales Volume・・・・・・・・・・・・・・・・・・26
- Key Business Indicators for PLAN23・・・・・・・・・・・・・・・・・・・・・・・26
- Financial Position・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・27
- Capital Expenditure・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・27
- Cash Flows ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・27
- Trends in Key Management Indicators (five-year)・・・・・・・・・・・・・・・・・・27
- Forecast for FY2023・・・・・・・・・・・・・・・・・・・・・・・・・・・・・27
- Forecast for FY2023 by Segment・・・・・・・・・・・・・・・・・・・・・・・・27
1
Overview of Operating Results, Etc.
(1) Overview of Operating Results for the Fiscal Year under Review
During the fiscal year ended March 31, 2023 (hereinafter referred to as the "fiscal year under review"), the Japanese economy showed a gradual recovery as a result of steady trend of capital investment in addition to an improvement in consumer spending as socioeconomic activities suppressed by the COVID-19 pandemic started to go back to normal. However, there still remain some uncertainties about the future due to rising prices and exchange rate fluctuations.
Under these circumstances, Iwatani has been working on the basic policies of our medium-term management plan "PLAN23," which are "Enhancing strategic investment to establish a carbon-free society" and "Promotion of digitization."
To realize a carbon-free society, the Liquefied Hydrogen Supply Chain Commercialization Feasibility Study Project in which we participate selected an overseas hydrogen shipping site and a domestic hydrogen receiving site. We have thus made steady progress with our efforts to build a CO2-free hydrogen supply chain. In addition, we established a limited liability company with Cosmo Oil Marketing Co., Ltd. with the aim of building hydrogen-refueling stations for commercial fuel cell vehicles.
In the Integrated Energy Business, we expanded sales of products that support customers' decarbonization, such as carbon offset LPG. In addition, we calculated and announced the CO2 emissions from the entire supply chain of Iwatani Cassette Gas Canisters, including raw material procurement to disposal. We have thus pressed forward with our efforts to decarbonize LPG.
In the Industrial Gases & Machinery Business, in the field of regenerative medicine, we focused on acquiring new customers while advancing research on manufacture, transport, and cryogenic storage of cells at the Iwatani R&D Center. In the field of onshore aquaculture, we installed aquacultural research equipment in the Iwatani R&D Center in an effort to strengthen our capabilities to propose products.
In the Materials Business, for the purpose of expanding the metal processing business, we expanded our site in Thailand. We worked to increase production capacity and reduce CO2 emissions by reinforcing manufacturing facilities and installing solar panels.
As a result, for the fiscal year under review, net sales were 906.261 billion yen (+215.868 billion yen year-on- year), operating profit was 40.035 billion yen (-0.041 billion yen year-on-year), ordinary profit was 47.011 billion yen (+0.598 billion yen year-on-year), and profit attributable to owners of parent was 32.022 billion yen (+2.057 billion yen year-on-year).
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Disclaimer
Iwatani Corporation published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 05:46:05 UTC.