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 Three Months Ended June 30, 2023 | |||||||||||||
[Japanese GAAP] | |||||||||||||
August 8, 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: | +81-3-6741-1204 | ||||||||||||
Scheduled date of filing quarterly securities report: | August 8, 2023 | ||||||||||||
Scheduled date of commencing dividend payments: | - | ||||||||||||
Availability of supplementary briefing material on quarterly financial results: Yes | |||||||||||||
Schedule of quarterly 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 Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023) | |||||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||
owners of parent | |||||||||||||
Three months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
June 30, 2023 | 218,504 | 0.9 | 32,973 | (10.7) | 33,518 | (9.3) | 22,913 | (8.1) | |||||
May 20, 2022 | 216,648 | 0.6 | 36,917 | (13.7) | 36,971 | (14.9) | 24,942 | (14.3) |
(Note) Comprehensive income: | Three months ended June 30, 2023: |
Three months ended May 20, 2022: |
¥ | 26,767 million | [ | (18.8) %] |
¥ | 32,959 million | [ | (1.7) %] |
Basic earnings | Diluted earnings per | |
per share | share | |
Three months ended | Yen | Yen |
June 30, 2023 | 202.76 | - |
May 20, 2022 | 220.85 | - |
(2) Consolidated Financial Position
Total assets | Net assets | Capital adequacy ratio | ||
As of | Million yen | Million yen | % | |
June 30, 2023 | 1,112,912 | 836,590 | 75.2 | |
March 31, 2023 | 1,133,771 | 818,096 | 72.2 | |
(Reference) Equity: As of | June 30, 2023: | ¥ | 836,590 million | |
As of | March 31, 2023: | ¥ | 818,096 million |
―1―
2. Dividends
Annual dividends | ||||||||||||||||||||
1st | 2nd | 3rd | Year-end | Total | ||||||||||||||||
quarter-end | quarter-end | quarter-end | ||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||||
Fiscal year ended March 31, 2023 | - | 73.00 | - | 73.00 | 146.00 | |||||||||||||||
Fiscal year ending March 31, 2024 | - | |||||||||||||||||||
Fiscal year ending March 31, 2024 | 75.00 | - | 75.00 | 150.00 | ||||||||||||||||
(Forecast) | ||||||||||||||||||||
(Note) Revision to the forecast for dividends announced most recently: | No | |||||||||||||||||||
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024) | ||||||||||||||||||||
(% indicates changes from the previous corresponding period.) | ||||||||||||||||||||
Profit attributable | Basic earnings | |||||||||||||||||||
Net sales | Operating profit | Ordinary profit | to owners of | |||||||||||||||||
per share | ||||||||||||||||||||
parent | ||||||||||||||||||||
Six months ending | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |||||||||||
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 | |||||||||||
(Note) Revision to the financial results forecast announced most recently: | No | |||||||||||||||||||
* Notes: | ||||||||||||||||||||
(1) Changes in significant subsidiaries during the three months ended June 30, 2023 | ||||||||||||||||||||
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | |||||||||||||||||||
New | - | (Company name: | ) | |||||||||||||||||
Exclusion: | - | (Company name: | ) | |||||||||||||||||
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | Yes |
- 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):
June 30, 2023: | 114,443,496 | shares |
March 31, 2023: | 114,443,496 | shares |
2) Number of treasury shares at the end of the period: | ||
June 30, 2023: | 1,431,541 | shares |
March 31, 2023: | 1,431,761 | shares |
3) Average number of shares outstanding during the period: | ||
Three months ended June 30, 2023: | 113,011,758 | shares |
Three months ended May 20, 2022: | 112,936,675 | shares |
*Quarterly financial results reports are not required to be subjected to quarterly 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.
―2―
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Million yen) | ||||
As of March 31, 2023 | As of June 30, 2023 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 131,928 | 127,734 | ||
Notes and accounts receivable - trade | 57,408 | 43,727 | ||
Merchandise and finished goods | 112,401 | 100,149 | ||
Work in process | 479 | 682 | ||
Raw materials and supplies | 7,496 | 6,440 | ||
Other | 20,641 | 16,199 | ||
Allowance for doubtful accounts | (1) | (8) | ||
Total current assets | 330,353 | 294,925 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 203,356 | 205,224 | ||
Land | 377,009 | 384,144 | ||
Other, net | 69,113 | 76,422 | ||
Total property, plant and equipment | 649,479 | 665,791 | ||
Intangible assets | ||||
Goodwill | 19,619 | 18,979 | ||
Other | 13,386 | 13,300 | ||
Total intangible assets | 33,005 | 32,279 | ||
Investments and other assets | ||||
Investment securities | 39,089 | 39,899 | ||
Long-term loans receivable | 562 | 551 | ||
Guarantee deposits | 16,893 | 16,869 | ||
Leasehold deposits | 30,313 | 30,280 | ||
Deferred tax assets | 21,765 | 20,518 | ||
Other | 12,379 | 11,867 | ||
Allowance for doubtful accounts | (72) | (72) | ||
Total investments and other assets | 120,932 | 119,915 | ||
Total non-current assets | 803,417 | 817,986 | ||
Total assets | 1,133,771 | 1,112,912 | ||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 38,459 | 32,758 | ||
Short-term borrowings | 83,068 | 86,068 | ||
Lease obligations | 1,602 | 1,600 | ||
Accounts payable - other | 24,058 | 26,677 | ||
Income taxes payable | 28,351 | 12,071 | ||
Contract liabilities | 23,774 | 15,843 | ||
Provision for bonuses | 8,380 | 10,141 | ||
Provision for point card certificates | 11 | 11 | ||
Provision for shareholder benefit program | 422 | 290 | ||
Provision for loss on business liquidation | 220 | 221 | ||
Other | 13,419 | 13,543 | ||
Total current liabilities | 221,769 | 199,228 | ||
―3―
(Million yen) | ||||
As of March 31, 2023 | As of June 30, 2023 | |||
Non-current liabilities | ||||
Long-term borrowings | 57,330 | 40,796 | ||
Lease obligations | 4,598 | 4,218 | ||
Provision for retirement benefits for directors (and | 228 | 228 | ||
other officers) | ||||
Retirement benefit liability | 5,886 | 5,827 | ||
Asset retirement obligations | 14,800 | 14,952 | ||
Other | 11,060 | 11,069 | ||
Total non-current liabilities | 93,905 | 77,093 | ||
Total liabilities | 315,674 | 276,322 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 13,370 | 13,370 | ||
Capital surplus | 30,711 | 30,715 | ||
Retained earnings | 771,743 | 786,378 | ||
Treasury shares | (10,111) | (10,111) | ||
Total shareholders' equity | 805,714 | 820,353 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 1,769 | 3,142 | ||
Deferred gains or losses on hedges | (1,829) | - | ||
Foreign currency translation adjustment | 12,479 | 13,145 | ||
Remeasurements of defined benefit plans | (36) | (51) | ||
Total accumulated other comprehensive income | 12,382 | 16,236 | ||
Total net assets | 818,096 | 836,590 | ||
Total liabilities and net assets | 1,133,771 | 1,112,912 | ||
―4―
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)
(Million yen) | ||||
For the three months | For the three months | |||
ended May 20, 2022 | ended June 30, 2023 | |||
Net sales | 216,648 | 218,504 | ||
Cost of sales | 105,032 | 107,452 | ||
Gross profit | 111,616 | 111,052 | ||
Selling, general and administrative expenses | 74,698 | 78,078 | ||
Operating profit | 36,917 | 32,973 | ||
Non-operating income | ||||
Interest income | 122 | 270 | ||
Dividend income | - | 256 | ||
Foreign exchange gains | 124 | 166 | ||
Subsidy income | 79 | 53 | ||
Vending machine income | 80 | 76 | ||
Gain on sales of goods | 56 | 71 | ||
Other | 281 | 309 | ||
Total non-operating income | 744 | 1,203 | ||
Non-operating expenses | ||||
Interest expenses | 90 | 127 | ||
Share of loss of entities accounted for using equity | 474 | 496 | ||
method | ||||
Other | 124 | 34 | ||
Total non-operating expenses | 689 | 658 | ||
Ordinary profit | 36,971 | 33,518 | ||
Extraordinary income | ||||
Gain on sale of non-current assets | 5 | 0 | ||
Total extraordinary income | 5 | 0 | ||
Extraordinary losses | ||||
Loss on sale and retirement of non-current assets | 8 | 11 | ||
Impairment losses | 453 | 327 | ||
Loss on change in equity | 1 | - | ||
Total extraordinary losses | 463 | 339 | ||
Profit before income taxes | 36,513 | 33,180 | ||
Income taxes | 11,571 | 10,266 | ||
Profit | 24,942 | 22,913 | ||
Profit attributable to owners of parent | 24,942 | 22,913 | ||
―5―
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Nitori Holdings Co. Ltd. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 08:23:05 UTC.