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 09, 2023 | ||
Company name: | Nitori Holdings Co., Ltd. | |
Stock exchange listing: Tokyo, Sapporo | ||
Code number: | 9843 | |
URL: | https://www.nitorihd.co.jp/ | |
Representative: | Toshiyuki Shirai | President and Chief Operating Officer |
Contact: | Masaomi Zenji | Executive Officer, General Manager, Accounting and Finance Division |
Phone: | 03-6741-1204 |
Scheduled date of Annual General Meeting of Shareholders: June 22, 2023 | ||||||||||||
Scheduled date of commencing dividend payments: | June 05, 2023 | |||||||||||
Scheduled date of filing annual securities report: | June 23, 2023 | |||||||||||
Availability of supplementary briefing material on annual financial results: Yes | ||||||||||||
Schedule of annual financial results briefing session: | Yes (for institutional investors and analysts) | |||||||||||
(Amounts of less than one million yen are rounded down) | ||||||||||||
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (February 21, 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 | 948,094 | 16.8 | 140,076 | 1.3 | 144,085 | 1.6 | 95,129 | (1.6) | ||||
February 20, 2022 | 811,581 | 13.2 | 138,270 | 0.4 | 141,847 | 2.5 | 96,724 | 5.0 |
(Note) Comprehensive income: | Fiscal year ended March 31, 2023: |
Fiscal year ended February 20, 2022: |
¥ | 99,881 million | [ | (4.9) %] |
¥ | 104,995 million | [ | 15.5%] |
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 | 841.90 | - | 12.3 | 13.6 | 14.8 |
February 20, 2022 | 856.71 | - | 14.1 | 14.8 | 17.0 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2023: Fiscal year ended February 20, 2022:
- 929 million
- 1,435 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 | 1,133,771 | 818,096 | 72.2 | 7,239.04 | |
February 20, 2022 | 983,840 | 732,813 | 74.5 | 6,489.57 | |
(Reference) Equity: As of | March 31, 2023: | ¥ | 818,096 million | ||
As of | February 20, 2022: | ¥ | 732,813 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 | 91,398 | (132,538) | 36,903 | 125,115 | |
February 20, 2022 | 85,565 | (119,980) | 17,729 | 127,076 | |
―1―
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 | % | % | ||
February 20, 2022 | - | 70.00 | - | 70.00 | 140.00 | 15,833 | 16.3 | 2.3 | ||
March 31, 2023 | - | 73.00 | - | 73.00 | 146.00 | 16,534 | 17.3 | 2.1 | ||
Fiscal year ending | ||||||||||
March 31, 2024 | - | 75.00 | - | 75.00 | 150.00 | 17.0 | ||||
(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 | Basic earnings per | ||||||
to owners of parent | share | |||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
Six months ended | 440,200 | 4.0 | 64,100 | (7.2) | 65,000 | (7.7) | 44,500 | (13.5) | 393.76 | |
September 30, 2023 | ||||||||||
Full year | 932,000 | (1.7) | 145,100 | 3.6 | 147,000 | 2.0 | 100,000 | 5.1 | 884.86 |
* Notes:
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
New | - | (Company name: | ) |
Exclusion: | - | (Company name: | ) |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: Yes
- 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: | 114,443,496 | shares |
February 20, 2022: | 114,443,496 | shares |
2) Number of treasury shares at the end of the period: | ||
March 31, 2023: | 1,431,761 | shares |
February 20, 2022: | 1,521,865 | shares |
3) Average number of shares outstanding during the period: | ||
Fiscal Year ended March 31, 2023: | 112,994,490 | shares |
Fiscal Year ended February 20, 2022: | 112,901,484 | shares |
―2―
(Reference) Summary of Non-consolidated Financial Results | |||||||||||||
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (February 21, 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 | 32,078 | (46.1) | (6,997) | - | 8,983 | (77.3) | 2,426 | (93.5) | |||||
February 20, 2022 | 59,546 | 112.1 | 24,959 | - | 39,555 | 641.4 | 37,387 | - | |||||
Basic earnings per share | Diluted earnings per share | ||||||||||||
Fiscal year ended | Yen | Yen | |||||||||||
March 31, 2023 | 21.45 | - | |||||||||||
February 20, 2022 | 330.59 | - | |||||||||||
(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 | 595,267 | 416,523 | 70.0 | 3,673.07 | |||||||||
February 20, 2022 | 526,468 | 424,847 | 80.7 | 3,756.41 | |||||||||
(Reference) Equity: As of | March 31, 2023: | ¥ | 416,523 million | ||||||||||
As of | February 20, 2022: | ¥ | 424,847 million |
* Financial results reports are not subjected to reviews.
*Explanation for appropriate use of financial forecasts and other special notes
The forecasts given in this document are based on the current available information in the company and certain reasonable assumptions to the company. And we don't commit to achieve these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.
―3―
Consolidated Financial Statements
Consolidated Balance Sheets
(Million yen) | ||||||
As of February 20,2022 | As of March 31,2023 | |||||
Assets | ||||||
Current assets | ||||||
Cash and deposits | 130,435 | 131,928 | ||||
Notes and accounts receivable - trade | 39,206 | 57,408 | ||||
Merchandise and finished goods | 78,917 | 112,401 | ||||
Work in process | 428 | 479 | ||||
Raw materials and supplies | 6,593 | 7,496 | ||||
Other | 22,794 | 20,641 | ||||
Allowance for doubtful accounts | (8) | (1) | ||||
Total current assets | 278,367 | 330,353 | ||||
Non-current assets | ||||||
Property, plant and equipment | ||||||
Buildings and structures | 389,745 | 422,887 | ||||
Accumulated depreciation | (203,933) | (219,531) | ||||
Buildings and structures, net | 185,812 | 203,356 | ||||
Machinery, equipment and vehicles | 18,371 | 20,792 | ||||
Accumulated depreciation | (11,790) | (13,978) | ||||
Machinery, equipment and vehicles, net | 6,581 | 6,813 | ||||
Tools, furniture and fixtures | 26,613 | 29,773 | ||||
Accumulated depreciation | (16,900) | (18,417) | ||||
Tools, furniture and fixtures, net | 9,713 | 11,356 | ||||
Land | 339,139 | 377,009 | ||||
Leased assets | 4,420 | 4,414 | ||||
Accumulated depreciation | (2,555) | (2,894) | ||||
Leased assets, net | 1,865 | 1,519 | ||||
Right of use assets | 6,741 | 15,333 | ||||
Accumulated depreciation | (2,900) | (4,203) | ||||
Right of use assets, net | 3,841 | 11,129 | ||||
Construction in progress | 13,527 | 38,294 | ||||
Total property, plant and equipment | 560,481 | 649,479 | ||||
Intangible assets | ||||||
Goodwill | 22,391 | 19,619 | ||||
Software | 7,088 | 5,267 | ||||
Software in progress | 931 | 1,740 | ||||
Leasehold interests in land | 7,615 | 6,272 | ||||
Other | 89 | 107 | ||||
Total intangible assets | 38,116 | 33,005 | ||||
Investments and other assets | ||||||
Investment securities | 26,585 | 39,089 | ||||
Long-term loans receivable | 618 | 562 | ||||
Guarantee deposits | 18,890 | 16,893 | ||||
Leasehold deposits | 28,987 | 30,313 | ||||
Deferred tax assets | 17,495 | 21,765 | ||||
Other | 14,369 | 12,379 | ||||
Allowance for doubtful accounts | (72) | (72) | ||||
Total investments and other assets | 106,875 | 120,932 | ||||
Total non-current assets | 705,472 | 803,417 | ||||
Total assets | 983,840 | 1,133,771 | ||||
―4―
(Million yen) | |||||
As of February 20,2022 | As of March 31,2023 | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable - trade | 39,765 | 38,459 | |||
Short-term borrowings | 35,068 | 83,068 | |||
Lease obligations | 1,663 | 1,602 | |||
Accounts payable - other | 28,594 | 24,058 | |||
Income taxes payable | 20,330 | 28,351 | |||
Contract liabilities | - | 23,774 | |||
Provision for bonuses | 4,482 | 8,380 | |||
Provision for point card certificates | 3,113 | 11 | |||
Provision for shareholder benefit program | 428 | 422 | |||
Provision for loss on business liquidation | - | 220 | |||
Other | 29,735 | 13,419 | |||
Total current liabilities | 163,181 | 221,769 | |||
Non-current liabilities | |||||
Long-term borrowings | 50,398 | 57,330 | |||
Lease obligations | 5,605 | 4,598 | |||
Provision for retirement benefits for directors | 228 | 228 | |||
(and other officers) | |||||
Retirement benefit liability | 5,741 | 5,886 | |||
Asset retirement obligations | 15,256 | 14,800 | |||
Other | 10,614 | 11,060 | |||
Total non-current liabilities | 87,845 | 93,905 | |||
Total liabilities | 251,027 | 315,674 | |||
Net assets | |||||
Shareholders' equity | |||||
Share capital | 13,370 | 13,370 | |||
Capital surplus | 26,814 | 30,711 | |||
Retained earnings | 692,768 | 771,743 | |||
Treasury shares | (7,771) | (10,111) | |||
Total shareholders' equity | 725,181 | 805,714 | |||
Accumulated other comprehensive income | |||||
Valuation difference on available-for-sale | 1,227 | 1,769 | |||
securities | |||||
Deferred gains or losses on hedges | - | (1,829) | |||
Foreign currency translation adjustment | 6,591 | 12,479 | |||
Remeasurements of defined benefit plans | (187) | (36) | |||
Total accumulated other comprehensive income | 7,631 | 12,382 | |||
Total net assets | 732,813 | 818,096 | |||
Total liabilities and net assets | 983,840 | 1,133,771 | |||
―5―
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Nitori Holdings Co. Ltd. published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 08:06:09 UTC.