Consolidated Financial Results
for the Six Months Ended September 30, 2023
[Japanese GAAP]
November 8, 2023
Company name: Neturen Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 5976
URL: https://www.k-neturen.co.jp/
Representative: Katsumi Omiya, Representative Director, Member of the Board and President
Contact: Hideaki Shinohara, General Manager, Accounting Department, Administrative Headquarters
Phone: +81-3-3443-5441
Scheduled date of filing quarterly securities report: November 10, 2023
Scheduled date of commencing dividend payments: December 6, 2023
Availability of supplementary explanatory materials on quarterly financial results: Available
Availability of quarterly financial results briefing: Available (for institutional investors and analysts)
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023-September 30,
2023) | ||||||||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||||||||
Net sales | Operating income | Ordinary income | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||
September 30, 2023 | 28,302 | 1.6 | 690 | (50.4) | 1,182 | (41.8) | 678 | (44.4) | ||||||||
September 30, 2022 | 27,859 | 14.2 | 1,393 | (23.8) | 2,030 | (5.4) | 1,221 | (10.0) | ||||||||
(Note) Comprehensive | income: Six months | ended September 30, 2023: ¥2,897 million [(32.4)%] | ||||||||||||||
Six months ended September 30, 2022: ¥4,288 million [66.1%] | ||||||||||||||||
Basic earnings | Diluted earnings | |||||||||||||||
per share | per share | |||||||||||||||
Six months ended | Yen | Yen | ||||||||||||||
September 30, 2023 | 18.22 | - | ||||||||||||||
September 30, 2022 | 31.15 | - | ||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||
Million yen | Million yen | % | ||||||||||||||
As of September 30, 2023 | 80,639 | 66,608 | 75.0 | |||||||||||||
As of March 31, 2023 | 79,888 | 66,549 | 74.3 |
(Reference) Equity: As of September 30, 2023: ¥60,483 million As of March 31, 2023: ¥59,394 million
2. Dividends
Annual dividends | |||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | Total | |||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | ||
- | 15.00 | - | 15.00 | 30.00 | |||
March 31, 2023 | |||||||
Fiscal year | |||||||
ending March | - | 24.00 | |||||
31, 2024 | |||||||
Fiscal year ending | |||||||
March 31, 2024 | - | 24.00 | 48.00 | ||||
(Forecast) |
(Note) Revision to the forecast for dividends announced most recently: None
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023-March 31, 2024) (% indicates changes from the previous corresponding period.)
Profit attributable | Basic earnings | ||||||||
Net sales | Operating income | Ordinary income | to owners of | ||||||
per share | |||||||||
parent | |||||||||
Full year | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen |
63,000 | 9.5 | 2,800 | 16.8 | 3,300 | 6.9 | 2,000 | 424.2 | 53.04 |
(Note) Revision to the financial results forecast announced most recently: None
* Notes:
-
Changes in significant subsidiaries during the period under review: None (Changes in specified subsidiaries resulting in changes in scope of consolidation) Newly included: -
Excluded: - - Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes (Note) For details, please see "2. Quarterly Consolidated Financial Statements (3) Notes to Quarterly Consolidated Financial Statements (Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements)" on page 7 of the appendix (Japanese version only).
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: None
- Changes in accounting policies other than 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Total number of issued and outstanding shares (common shares)
- Total number of issued and outstanding shares at the end of the period (including treasury shares):
September 30, 2023: | 38,678,700 shares |
March 31, 2023: | 38,678,700 shares |
2) Total number of treasury shares at the end of the period: | |
September 30, 2023: | 1,924,638 shares |
March 31, 2023: | 970,011 shares |
3) Average number of shares during the period: | |
Six months ended September 30, 2023: | 37,262,662 shares |
Six months ended September 30, 2022: | 39,207,033 shares |
- These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
-
Explanation of the proper use of financial results forecast and other notes (Notes on forward-looking statements, etc.)
The forward-looking statements contained in this document are based on judgments made in accordance with information available at the time of the release of this document and include many uncertain factors. Actual results may differ from these forecasts due to changes in business conditions and other factors.
For the assumptions used for the financial results forecast as well as precautions regarding the use of such forecast, please refer to "1. Qualitative Information on Quarterly Financial Results (3) Explanation Regarding Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the Attachments (Japanese version only).
(Access to the materials for the quarterly financial results briefing for the second quarter)
The financial results briefing for the second quarter (for institutional investors and analysts) is scheduled for November 28, 2023. Supplementary materials for the quarterly financial results (materials for the quarterly financial results briefing for the six months ended September 30, 2023) will be disclosed via TDnet and on the Company's website following the briefing.
2. Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Million yen) | ||||||
As of March 31, 2023 | As of September 30, 2023 | |||||
Assets | ||||||
Current assets | ||||||
Cash and deposits | 18,320 | 15,956 | ||||
Notes and accounts receivable - trade, and contract | 11,646 | 11,811 | ||||
assets | ||||||
Electronically recorded monetary claims | 3,364 | 4,080 | ||||
Securities | 158 | 275 | ||||
Finished goods | 1,459 | 1,767 | ||||
Work in process | 1,877 | 2,514 | ||||
Raw materials and supplies | 3,547 | 2,764 | ||||
Other | 2,198 | 2,150 | ||||
Allowance for doubtful accounts | (189) | (195) | ||||
Total current assets | 42,383 | 41,124 | ||||
Non-current assets | ||||||
Property, plant and equipment | ||||||
Buildings and structures, net | 8,093 | 8,375 | ||||
Machinery, equipment and vehicles, net | 6,225 | 6,616 | ||||
Land | 9,890 | 9,950 | ||||
Construction in progress | 560 | 695 | ||||
Other, net | 717 | 736 | ||||
Total property, plant and equipment | 25,486 | 26,374 | ||||
Intangible assets | ||||||
Leasehold interests in land | 691 | 736 | ||||
Other | 113 | 93 | ||||
Total intangible assets | 805 | 830 | ||||
Investments and other assets | ||||||
Investment securities | 9,809 | 10,465 | ||||
Long-term loans receivable | 18 | 17 | ||||
Retirement benefit asset | 3 | - | ||||
Other | 1,523 | 1,942 | ||||
Allowance for doubtful accounts | (141) | (114) | ||||
Total investments and other assets | 11,212 | 12,310 | ||||
Total non-current assets | 37,504 | 39,514 | ||||
Total assets | 79,888 | 80,639 |
1
(Million yen) | ||||||
As of March 31, 2023 | As of September 30, 2023 | |||||
Liabilities | ||||||
Current liabilities | ||||||
Notes and accounts payable - trade | 3,913 | 3,646 | ||||
Electronically recorded obligations - operating | 3,367 | 4,275 | ||||
Short-term borrowings | 1,262 | 671 | ||||
Income taxes payable | 172 | 349 | ||||
Provision for bonuses | 558 | 656 | ||||
Provision for bonuses for directors (and other | 12 | 13 | ||||
officers) | ||||||
Provision for share awards for directors (and other | 8 | 15 | ||||
officers) | ||||||
Other | 2,501 | 2,799 | ||||
Total current liabilities | 11,797 | 12,429 | ||||
Non-current liabilities | ||||||
Long-term borrowings | 138 | 21 | ||||
Provision for share awards for directors (and other | 6 | 6 | ||||
officers) | ||||||
Retirement benefit liability | 362 | 348 | ||||
Other | 1,033 | 1,225 | ||||
Total non-current liabilities | 1,540 | 1,601 | ||||
Total liabilities | 13,338 | 14,030 | ||||
Net assets | ||||||
Shareholders' equity | ||||||
Share capital | 6,418 | 6,418 | ||||
Capital surplus | 1,627 | 1,731 | ||||
Retained earnings | 47,639 | 47,750 | ||||
Treasury shares | (688) | (1,613) | ||||
Total shareholders' equity | 54,997 | 54,287 | ||||
Accumulated other comprehensive income | ||||||
Valuation difference on available-for-sale securities | 1,868 | 2,249 | ||||
Foreign currency translation adjustment | 2,361 | 3,793 | ||||
Remeasurements of defined benefit plans | 167 | 153 | ||||
Total accumulated other comprehensive income | 4,397 | 6,196 | ||||
Non-controlling interests | 7,155 | 6,125 | ||||
Total net assets | 66,549 | 66,608 | ||||
Total liabilities and net assets | 79,888 | 80,639 |
2
- Quarterly Consolidated Statements of Income and Comprehensive Income For the Six months ended September 30
(Million yen) | |||
For the Six months ended | For the Six months ended | ||
September 30, 2022 | September 30, 2023 | ||
Net sales | 27,859 | 28,302 | |
Cost of sales | 22,613 | 23,476 | |
Gross profit | 5,245 | 4,825 | |
Selling, general and administrative expenses | 3,852 | 4,135 | |
Operating income | 1,393 | 690 | |
Non-operating income | |||
Interest income | 48 | 71 | |
Dividend income | 92 | 134 | |
Share of profit of entities accounted for using equity | 81 | 81 | |
method | |||
Foreign exchange gains | 303 | 92 | |
Gain on sales of scraps | 92 | 79 | |
Other | 52 | 66 | |
Total non-operating income | 671 | 525 | |
Non-operating expenses | |||
Interest expenses | 28 | 28 | |
Other | 5 | 4 | |
Total non-operating expenses | 33 | 33 | |
Ordinary income | 2,030 | 1,182 | |
Extraordinary income | |||
Gain on sales of non-current assets | 12 | 11 | |
Gain on sales of investment securities | 0 | 13 | |
Insurance claim income | 3 | 6 | |
Other | 0 | 0 | |
Total extraordinary income | 17 | 32 | |
Extraordinary losses | |||
Loss on sales of non-current assets | 0 | 0 | |
Loss on retirement of non-current assets | 2 | 6 | |
Loss on sale of investment securities | - | 0 | |
Total extraordinary losses | 2 | 6 | |
Profit before income taxes | 2,045 | 1,208 | |
Income taxes | 608 | 365 | |
Profit | 1,436 | 843 |
Profit attributable to:
Profit attributable to owners of parent
Profit attributable to non-controlling interests Other comprehensive income
Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans, net of tax Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling
interests
1,221 | 678 | |
215 | 164 | |
(25) | ||
350 | ||
2,442 | 1,475 | |
(6) | (13) | |
441 | 242 | |
2,851 | 2,054 | |
4,288 | 2,897 | |
3,269 | ||
2,477 | ||
419 | ||
1,018 |
3
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Disclaimer
Neturen Co. Ltd. published this content on 17 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2023 04:23:00 UTC.