February 4, 2022
Consolidated Financial Results (Japanese Accounting Standards) for the Nine Months Ended December 31, 2021 (Q3 FY2021)
(English Translation)
Company name: | KAMEDA SEIKA CO., LTD. |
Stock exchange: | Tokyo Stock Exchange |
Stock code: | 2220 |
URL: | www.kamedaseika.co.jp |
Representative: | Isamu Sato, President & COO |
Contact: | Akira Kobayashi, General Manager Administrative Div. Director & CFO |
Tel. +81-25-382-2111 |
Scheduled date for filing of securities report: | February 14, 2022 |
Scheduled date of commencement of dividend payment: | - |
Supplementary documents for quarterly results: | Yes |
Quarterly results briefing: | None |
(All | amounts are rounded down to the nearest million yen) |
1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 1, 2021 - December 31, 2021)
(1) Consolidated Results of Operations (Accumulated Total)
(Percentages show year-on-year changes.)
Net income | ||||||||||
Net sales | Operating income | Ordinary income | attributable to | |||||||
owners of the parent | ||||||||||
Nine months ended | ¥ million | % | ¥ million | % | ¥ million | % | ¥ million | % | ||
December 31, 2021 | 62,531 | - | 2,969 | -22.3 | 3,677 | -20.6 | 3,075 | -7.6 | ||
December 31, 2020 | 77,230 | 0.7 | 3,822 | 1.6 | 4,631 | 2.8 | 3,328 | 2.5 | ||
(Note) Comprehensive | income: ¥ | 3,881million (34.6%) for the nine months ended December 31, 2021 |
- 2,883million (2.6%) for the nine months ended December 31, 2020
Net income Per | Net income Per | |
share | share | |
(basic) | (diluted) | |
Nine months ended | ¥ | ¥ |
December 31, 2021 | 145.89 | - |
December 31, 2020 | 157.88 | - |
(Note) 1. At the end of the fiscal year ended March 31, 2021, the Company confirmed the provisional accounting treatment related to business combinations. The figures for the nine months ended December 31, 2021 reflect the confirmed content of the provisional accounting treatment.
2. The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the current consolidated fiscal year. The figures for the nine months ended December 31, 2021 represent figures after the application of the accounting standard, etc. Accordingly, the year-on-year percentage change in net sales is not stated.
- Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per | ||
share | |||||
¥ | million | ¥ million | % | ¥ | |
As of December 31, 2021 | 101,044 | 62,704 | 59.9 | 2,869.33 | |
As of March 31, 2021 | 92,888 | 59,895 | 62.7 | 2,761.24 |
(Reference) Shareholder's equity: | As of December | 31, 2021: | ¥ 60,496 million |
As of March 31, | 2021: | ¥ 58,217 million |
(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) etc. from the beginning of the first quarter of the current consolidated fiscal year.
The figures for the nine months ended December 31, 2021 represent figures after the application of the accounting standard, etc.
2. Dividends
Dividend per share | ||||||||||||
End of first | End of | End of third | ||||||||||
second | Year-end | Annual | ||||||||||
quarter | quarter | |||||||||||
quarter | ||||||||||||
¥ | ¥ | ¥ | ¥ | ¥ | ||||||||
Year ended March 31, 2021 | - | 15.00 | - | 38.00 | 53.00 | |||||||
Year ending March 31, 2022 | - | 15.00 | - | |||||||||
Year ending March 31, 2022 | 39.00 | 54.00 | ||||||||||
(forecasts) | ||||||||||||
(Note) Revisions to dividend forecasts published most recently: None |
3. Consolidated Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)
(Percentages represent ratio of changes from the corresponding period of the previous year)
Net income | Net | ||||||||||
attributable to | |||||||||||
Net sales | Operating income | Ordinary income | income | ||||||||
owners of the | |||||||||||
per share | |||||||||||
parent | |||||||||||
Year ending | ¥ million | % | ¥ million | % | ¥ million | % | ¥ million | % | ¥ | ||
84,000 | - | 4,800 | -14.6 | 5,600 | -18.7 | 4,300 | -9.6 | 203.95 | |||
March 31, 2022 | |||||||||||
(Note) 1. Revisions to financial forecasts published most recently: Yes |
2. The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the current consolidated fiscal year. The figures for the nine months ended December 31, 2021 represent figures after the application of the accounting standard, etc. Accordingly, the year-on-year percentage change in net sales is not stated.
* Notes
- Changes of important subsidiaries during the period (changes of specific subsidiaries in accordance with changes in the scope of consolidation): Yes
1 new company (Company name) THIEN HA KAMEDA, JSC.
(Note) For details, please refer to page 10 of the Appendix,"2. Quarterly Consolidated Financial Statements (3) Notes to the Quarterly Consolidated Financial Statements (Changes in Important Subsidiaries during the Period)"
- Application of particular accounts procedures to the preparation of quarterly consolidated financial statements: None.
- Changes in accounting policies and changes or restatement of accounting estimates
(i) | Changes in accounting policies caused by revision of accounting standards: | Yes |
(ii) | Changes in accounting policies other than (i): | None |
(iii) | Changes in accounting estimates: | None |
(iv) | Restatement: | None |
(Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to the Quarterly Consolidated Financial Statements (Changes in Accounting Policies)" on page 10 of the Appendix.
- Number of shares outstanding (common stock):
- Number of shares outstanding at end of period (including treasury stock)
As of December | 31, 2021: | 22,318,650 shares |
As of March 31, | 2021: | 22,318,650 shares |
- Number of treasury stock at end of period
As of December | 31, 2021: | 1,234,910 shares |
As of March 31, | 2021: | 1,234,695 shares |
- Average number of shares outstanding during the term
Nine months ended December 31, 2021: | 21,083,887 shares |
Nine months ended December 31, 2020: | 21,084,021 shares |
- This quarterly financial results report is not subject to quarterly review procedures by certified public accountants or the audit corporation.
-
Explanations and other special notes concerning the appropriate use of performance forecasts. (Caution concerning statements, etc. regarding the future)
The forward-looking statements such as performance forecasts included in this document are based on the information available to the Company at the time of the announcement and on certain assumptions considered reasonable. Actual results may differ materially from the forecast depending on a range of factors. See "1. Qualitative Consolidated Financial Results Data for the Period under Review (3) Explanation of Future Estimates, Including Consolidated Forecasts" on page 5 of the Appendix for the conditions assumed in consolidated forecasts and notes on the use of consolidated forecasts.
(How to obtain supplementary materials on financial results)
Download from the Company's website, available from Thursday, February 10, 2022.
Contents of Appendix
- Qualitative Consolidated Financial Results Data for the Period under Review ………………………………. 2
- Explanation of Consolidated Operating Results …………………………………………………………… 2
- Explanation of Consolidated Financial Position …………………………………………………………… 5
- Explanation of Future Estimates, Including Consolidated Forecasts ……………………………………… 5
- Quarterly Consolidated Financial Statements and Major Notes…….………………………………………… 6
- Quarterly Consolidated Balance Sheet …...….……………………………………………………………… 6
-
Quarterly Consolidated Income Statement and Consolidated Comprehensive Income Statement ………… 8 Quarterly Consolidated Income Statement
Cumulative Third Quarter ………….....…………………………………………………………………… 8 Quarterly Consolidated Comprehensive Income Statement
Cumulative Third Quarter ……………………….………………………………………………………… 9 - Notes to the Quarterly Consolidated Financial Statements………………………………………………… 10 (Notes to the Assumption of a Going Concern) ……………………………………………..………...…… 10 (Notes Concerning Significant Changes in the Amount of Shareholder Equity)……….………………….. 10 (Changes in Important Subsidiaries during the Period) ………………………………………………….… 10 (Changes in Accounting Policies)…………………………………………………………………………... 10 (Segment Information) …………………………………………………………………………………...… 12 (Additional Information) …………………………………………………………………………………… 14 (Business Combinations, etc.) …...………………….……...………….………………………….………… 14
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1. Qualitative Consolidated Financial Results Data for the Period under Review
The Group has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020; hereinafter, the "Revenue Recognition Accounting Standard"), etc. from the beginning of the first quarter of the current consolidated fiscal year.
The change in net sales compared to the nine months ended December 31, 2020 and the year-on-year percentage change are not stated, because the figures for the nine months ended December 31, 2021, explained herein as a consolidated operating results represent figures after the application of the accounting standard, etc.
For details regarding the application of the "Revenue Recognition Accounting Standard," etc., please refer to "2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to the Quarterly Consolidated Financial Statements (Changes in Accounting Policies)."
(1) Explanation of Consolidated Operating Results
During the nine months ended December 31, 2021, the Japanese economy continued to face a sluggish recovery in domestic consumption due to the spread of new mutant strains of COVID-19, and the outlook remained uncertain.
With regard to the global economy, people are continuing to search for ways to coexist with COVID-19, and the economy is beginning to show signs of recovery amid delicate maneuvering, such as inflation control measures in the U.S. and the maintenance of the lower limit of potential growth rate in China.
In the food industry in Japan, despite support from firm demand, revenue levels of companies are being pushed down by rising transportation costs due to soaring crude oil prices and strong upward pressure on various raw materials.
Under these conditions and changes in the environment surrounding the food industry, the KAMEDA SEIKA Group has determined in the Medium-Term-Business Plan to continue to deliver value to customers from the perspective of "Better For You"; contribution to a healthy lifestyle through the selection, eating and enjoyment of things that are delicious and good for the body. Hence, the KAMEDA SEIKA Group will be enable to achieve sustainable growth and enhance its corporate value by realizing its long-term vision of becoming a "Global Food Company." By FY2030, we aim to evolve from a "Rice cracker and snack manufacturer" to a "'Better for You' food company."
During the period of the medium-term business plan, which continues to FY2023, we are striving to realize our vision as a distinctive global corporation that stands firmly on the foundation provided by the three pillars of our Domestic Rice Cracker Business, Overseas Business, and Food Business. At the same time, we will implement structural reforms from a medium-to-long-term perspective to address changes in the business environment, such as changes in consumer behavior triggered by COVID-19, thereby making efforts to achieve sustainable growth and enhance our corporate value.
We have positioned FY2021 as a year to solidify the foundation for our next stage of growth and to implement structural reforms, and are engaged in implementing various measures. In the Domestic Rice Cracker Business, we are working to further strengthen our revenue base in order to solidify our position, which is by far the best in the industry. The Overseas Business is working to achieve further growth in the North American market, and to improve profit and expand through investment in Asia. The Food Business is working to expand long-life preserved foods and allergen-free products, and to strengthen our initiatives for plant-based foods.
In the Domestic Rice Cracker Business, we are working to expand environmentally friendly products from a medium-to-long-term perspective. In terms of sales, we are concentrating management resources on growth channels, and promoting the digitalization of sales activities such as SFA and MotionBoard. Even though stay-at-home demand resulting from the COVID-19 pandemic is subsiding, many of our products, such as "Tsumami Dane" and "Mugen Ebi," are highly popular among our customers. We are working to increase our production capacity to meet the strong demand. Meanwhile, net sales of the Domestic Rice Cracker Business were down year-on-year, due to the impact of supply delays for our core products as a result of temporary labor shortages and other factors that acted against the increase in demand during the summer, as well as the impact of changes in product specifications and price revisions due to soaring raw material prices.
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KAMEDA SEIKA Co. Ltd. published this content on 04 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2022 04:55:04 UTC.