October 12, 2021
Summary of Financial Results for the Fiscal Year Ended August 31, 2021
(All financial information has been prepared in accordance with the Generally Accepted Accounting Principles in Japan)
Company name: | NPC Incorporated | Listing: Mothers of TSE |
Stock code: | 6255 | URL: https://www.npcgroup.net/eng/ |
Representative: | Masafumi Ito, President & CEO | |
Contact: | IR Group, General Affairs Department | |
Tel: +81-(0)3-6240-1206 |
General meeting of shareholders: | November 25, 2021 |
Filing date of securities report: | November 26, 2021 |
Payment date of cash dividends: | November 26, 2021 |
Supplementary materials prepared for financial results: | Yes |
Financial results meeting for institutional investors and | Yes |
securities analysts: | (All amounts are rounded down to the nearest million yen) |
1. Consolidated Financial Results for the Fiscal Year Ended August 31, 2021 (September 1, 2020 through August 31, 2021)
(1) Consolidated results of operations | (Percentages represent year-on-year changes) | |||||||||||||||||||||||||||
Net income | ||||||||||||||||||||||||||||
Sales | Operating income | Ordinary income | attributable to owners | |||||||||||||||||||||||||
of the parent | ||||||||||||||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||||||||||||||||
Year ended August 31, 2021 | 5,217 | (34.3) | 691 | (21.4) | 670 | (24.2) | 411 | (45.1) | ||||||||||||||||||||
Year ended August 31, 2020 | 7,938 | 15.4 | 879 | 28.1 | 884 | 34.2 | 749 | 10.0 | ||||||||||||||||||||
Earnings per | Diluted earnings | Return on | Ordinary | Operating | ||||||||||||||||||||||||
shareholders' | income-to-equity | income-to-net | ||||||||||||||||||||||||||
share | per share | |||||||||||||||||||||||||||
equity | ratio | sales ratio | ||||||||||||||||||||||||||
Yen | Yen | % | % | % | ||||||||||||||||||||||||
Year ended August 31, 2021 | 18.76 | - | 5.7 | 7.1 | 13.2 | |||||||||||||||||||||||
Year ended August 31, 2020 | 34.10 | - | 11.1 | 9.8 | 11.1 | |||||||||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||||||||||||||
Million yen | Million yen | % | Yen | |||||||||||||||||||||||||
As of August 31, 2021 | 8,846 | 7,383 | 83.5 | 336.89 | ||||||||||||||||||||||||
As of August 31, 2020 | 10,104 | 7,044 | 69.7 | 320.81 | ||||||||||||||||||||||||
[Reference] Shareholders' equity (million yen): | August 31, 2021: 7,383 | August 31, 2020: 7,044 | ||||||||||||||||||||||||||
(3) Consolidated cash flow position | ||||||||||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |||||||||||||||||||||||||
equivalents at the | ||||||||||||||||||||||||||||
operating activities | investing activities | financing activities | ||||||||||||||||||||||||||
period end | ||||||||||||||||||||||||||||
Million yen | Million yen | Million yen | Million yen | |||||||||||||||||||||||||
As of August 31, 2021 | 1,629 | (232) | (126) | 3,326 | ||||||||||||||||||||||||
As of August 31, 2020 | 1,596 | (55) | (206) | 2,052 | ||||||||||||||||||||||||
2. Dividends | ||||||||||||||||||||||||||||
Dividend per share | Dividend in | Dividend | Dividends | |||||||||||||||||||||||||
total | payout ratio | on net assets | ||||||||||||||||||||||||||
1Q-end | 2Q-end | 3Q-end | Year-end | Annual | ||||||||||||||||||||||||
(full year) | (consolidated) | (consolidated) | ||||||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Million yen | % | % | |||||||||||||||||||||
Year ended August 31, 2020 | - | 0.00 | - | 3.50 | 3.50 | 76 | 10.3 | 1.1 | ||||||||||||||||||||
Year ended August 31, 2021 | - | 0.00 | - | 2.00 | 2.00 | 43 | 10.7 | 0.6 | ||||||||||||||||||||
Year ending August 31, 2022 | - | 0.00 | - | 2.00 | 2.00 | 6.8 | ||||||||||||||||||||||
(forecast) | ||||||||||||||||||||||||||||
3. Consolidated Forecast for the Fiscal Year Ending August 31, 2022 (September 1, 2021 through August 31, 2022)
(Percentages represent year-on-year changes)
Net income (loss) | Earnings | |||||||||
Sales | Operating income | Ordinary income | attributable to | |||||||
per share | ||||||||||
owners of the parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
1st half ending February 28, | 2,350 | - | 160 | - | 149 | - | 146 | - | 6.69 | |
2022 | ||||||||||
Year ending August 31, | 5,775 | - | 661 | - | 646 | - | 641 | - | 29.27 | |
2022 | ||||||||||
[Note] From the beginning of FY2022, the Accounting Standard for Revenue Recognition and other related guidelines are
applied. The Consolidated Forecast shows the numbers after application of the Accounting Standard, and the increase/decrease rates year on year are not indicated. Please refer to the 1. (2) Future Outlook for details.
4. Others
(1) Changes in significant subsidiaries during the period: | None |
- Changes in accounting principles, procedures and presentation methods
- Changes in accounting policies arising from revision of accounting standards: None
2) | Other changes: | None |
3) | Changes in accounting estimates: | None |
4) | Restatement: | None |
- Number of shares outstanding (common shares)
- Number of shares outstanding (including treasury stock) at the end of the period
August 31, 2021: | 22,052,426 shares | ||
August 31, 2020: | 22,052,426 shares | ||
2) | Number of treasury stock at the end of the period | ||
August 31, 2021: | 135,348 shares | ||
August 31, 2020: | 95,284 shares | ||
3) | Average number of shares during the period | ||
Fiscal year ended August 31, 2021: | 21,913,900 shares | ||
Fiscal year ended August 31, 2020: | 21,963,603 shares |
[Reference]
1. Non-Consolidated Financial Results for the Year Ended August 31, 2021 (September 1, 2020 through August 31, 2021)
(1) Non-Consolidated results of operations | (Percentages represent year-on-year changes) | ||||||||||
Sales | Operating income | Ordinary income | Net income | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||
Year ended August 31, 2021 | 5,134 | (34.9) | 661 | (18.9) | 644 | (19.9) | 395 | (42.2) | |||
Year ended August 31, 2020 | 7,887 | 15.9 | 815 | 30.4 | 804 | 35.0 | 684 | 8.9 | |||
Earnings per share | Diluted earnings per share | ||||||||||
Yen | Yen | ||||||||||
Year ended August 31, 2021 | 18.04 | - | |||||||||
Year ended August 31, 2020 | 31.17 | - | |||||||||
(2) Non-Consolidated financial position | |||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||
Million yen | Million yen | % | Yen | ||||||||
As of August 31, 2021 | 8,559 | 7,126 | 83.3 | 325.14 | |||||||
As of August 31, 2020 | 9,874 | 6,813 | 69.0 | 310.33 | |||||||
[Reference] Shareholders' equity (million yen): | August 31, 2021: 7,126 | August 31, 2020: 6,813 |
2. Non-Consolidated Forecast for the Fiscal Year Ending August 31, 2022 (September 1, 2021 through August 31, 2022)
(Percentages represent year-on-year changes)
Net income (loss) | Earnings | |||||||||
Sales | Operating income | Ordinary income | attributable to | |||||||
per share | ||||||||||
owners of the parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
1st half ending February 28, | 2,322 | - | 169 | - | 158 | - | 156 | - | 7.13 | |
2022 | ||||||||||
Year ending August 31, | 5,711 | - | 683 | - | 668 | - | 663 | - | 30.26 | |
2022 | ||||||||||
[Note] From the beginning of FY2022, the Accounting Standard for Revenue Recognition and other related guidelines are applied. The Non-Consolidated Forecast shows the numbers after application of the Accounting Standard, and the increase/decrease rates year on year are not indicated.
*This financial report is not subject to audit procedures.
*Appropriate use of the forecast of financial results and other matters:
Forward-looking statements in this report such as financial results forecasts are based on the information available to NPC Incorporated ("the Company") at the time when this report is prepared and the assumption that the forecasts are reasonable. The actual results may significantly differ from the forecast due to various factors. Please refer to the 1. (2) Future outlook on page 3 for conditions of assumptions for the forecast and notes concerning on appropriate use of the forecast.
NPC Incorporated (6255) Financial Results for the Fiscal Year 2021 | |||
1. | Overview of Financial Results of the Fiscal Year Ended August 31, 2021 .............................................................. | 2 | |
(1) Overview of financial results of the fiscal year ended August 31, 2021 ................................................................... | 2 | ||
(2) | Future outlook ........................................................................................................................................................... | 2 | |
2. | Consolidated Financial Statements for the Fiscal Year Ended August 31, 2021..................................................... | 4 | |
(1) | Consolidated balance sheets...................................................................................................................................... | 4 | |
(2) | Consolidated statement of income ............................................................................................................................ | 6 | |
(3) | Consolidated statement of cash flows ....................................................................................................................... | 7 | |
3. | Other Information ........................................................................................................................................................ | 8 | |
(1) | Production, orders, and sales..................................................................................................................................... | 8 |
1
NPC Incorporated (6255) Financial Results for the Fiscal Year 2021
1. Overview of Financial Results of the Fiscal Year Ended August 31, 2021
(1) Overview of financial results of the fiscal year ended August 31, 2021
During the fiscal year ended August 31, 2021, while signs of recovery in capital expenditures and corporate earnings were seen in the manufacturing industry, the Japanese economy continues to face a tumultuous situation due to limitation of business activities caused by government issued "State of Emergency" declarations. As for the global economy, although COVID-19 vaccination is expanding worldwide, it is still difficult to predict the future outlook because of the resurgence of the variant of the virus.
Concerning the Machinery Business of NPC Group ("the Group"), the US photovoltaic (PV) industry, the main market of the business, is growing steadily with support from policies of Biden administration and active engagement for renewable energy by states and companies, and PV system installation is expected to surpass the record of the previous year. As for automation machines for other industries, continuous capital expenditures are expected in strong sectors such as the electronic parts industry. In the US, Japanese automobile companies have strong needs for Japanese machine manufacturer that is capable of machine manufacturing and updating within the US.
As for the PV industry in Japan, to which the Environmental Business of the Group belongs, PV installation, which requires shorter time than other renewables, is expected to increase as the Japanese government enhanced its target of greenhouse gas emissions reduction. Also, there are growing needs in Japan and overseas for establishing an appropriate recycling method and processing structure for PV panels as a considerable volume of discarded PV panels is expected in the future. The needs for panel disassembly equipment are growing especially in Europe as the volume of discarded PV panels has been already increasing in the area.
Under such circumstances, the consolidated net sales were 5,217 million yen, 2,720 million yen decrease year on year, which turned out to be slightly lower than the forecast. The Group's profits, on the other hand, surpassed the forecast due to the improvements in the profit margin realized by cost reduction. Operating income was 691 million yen, 188 million yen decrease year on year, and ordinary income was 670 million yen, 214 million yen decrease year on year. Net income attributable to owners of the parent was 411 million yen, 337 million yen decrease year on year, which surpassed the forecast despite booking of US federal tax and reversal of deferred tax assets.
Financial results by segment are as follows: | |
1) | Machinery Business |
In the Machinery Business, the Group implemented upgrading and expansion of the equipment of a US | |
PV manufacturer, the Group's main customer. It also booked the sales of PV module manufacturing equipment | |
for other US PV manufacturers. While the sales of automation machines were booked mainly to the Japanese | |
electronic parts industry, there was a change in schedule on the customer's side in an overseas automation | |
machine project. As a result, the sales were 4,905 million yen 2,579 million yen decrease year on year, which | |
was slightly lower than the forecast. On the other hand, due to the improvement in the profit margin realized by | |
cost reduction, operating income was 1,250 million yen, 35 million yen decrease year on year, which surpassed | |
the forecast. | |
2) | Environmental Business |
In the Environmental Business, the Group booked the sales of inspection service of PV power plants as |
scheduled, as well as the sales of used PV panels, recycling of end-of-life PV panels, PV panel disassembly equipment and plant factory business. As a result, the sales were 311 million yen, 141 million yen decrease year on year, and operating income was 29 million yen, 113 million yen decrease year on year.
(2) Future outlook
For the upcoming fiscal year, the sales of equipment for PV industry, upgrading of delivered equipment, automation machines in Japan and the US, inspection services, and PV panel disassembly equipment are expected.
As a result of such businesses, the consolidated business forecast for the next fiscal year will be: sales at 5,755 million yen; operating income at 661 million yen; ordinary income at 646 million yen; and net income attributable to owners of the parent at 641 million yen.
From the next fiscal year, the Accounting Standard for Revenue Recognition will be applied, which means that the basis
2
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NPC Inc. published this content on 12 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2021 06:11:02 UTC.