April 25, 2024
Consolidated Financial Results
For the Fiscal Year Ended March 31, 2024
Company name: PACIFIC INDUSTRIAL CO., LTD.
Stock exchange listings: Tokyo and Nagoya Stock Exchanges
Stock code number: 7250
URL: https://www.pacific-ind.co.jp/
Representative: Tetsushi Ogawa, President
Contact person: Satoshi Watanabe, General Manager of Accounting Dept.
Telephone: +81-584-93-0117
(Amounts less than one million yen are omitted)
1. Consolidated Financial Results for FY 2023(From April 1, 2023 to March 31, 2024)
(1) Consolidated financial results
(%: changes from the same period of the previous fiscal year)
Net sales | Operating income | Ordinary income | Net income | |||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
FY 2023 | 207,348 | 8.4 | 14,456 | 55.5 | 18,836 | 42.6 | 16,974 | 82.5 | ||
FY 2022 | 191,254 | 16.3 | 9,298 | -13.6 | 13,209 | -9.6 | 9,301 | -5.1 |
(Note) Comprehensive income: FY2023:32,579 million yen (170.3%) | FY2022 : 12,054 million yen ( -40.2% ) | ||||||||||||||||
Net income | Diluted net income | Return on equity | Return on asset | Operating margin | |||||||||||||
per share | per share | ||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||
FY 2023 | 289.48 | 288.90 | 11.2 | 6.8 | 7.0 | ||||||||||||
FY 2022 | 155.33 | 155.02 | 7.0 | 5.2 | 4.9 | ||||||||||||
(Reference) Share of (profit) loss of entities accounted for using equity method: | |||||||||||||||||
FY2023 : 1,384 million yen FY2022 : 782 million yen | |||||||||||||||||
(2) Consolidated financial position | |||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||||
Millions | of yen | Millions of yen | % | Yen | |||||||||||||
FY 2023 | 292,455 | 167,397 | 56.9 | 2,840.12 | |||||||||||||
FY 2022 | 258,058 | 138,721 | 53.4 | 2,309.07 | |||||||||||||
(Reference) Equity: | FY2023: 166,310 million yen FY2022: 137,717 million yen | ||||||||||||||||
(3) Cash flow | |||||||||||||||||
Cash flows | Cash flows | Cash flows | Cash and cash | ||||||||||||||
from operating activities | from investing activities | from financing activities | equivalent at end of period | ||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | ||||||||||||||
FY 2023 | 35,381 | -19,577 | -4,660 | 44,490 | |||||||||||||
FY 2022 | 24,129 | -16,428 | -3,509 | 31,593 |
2. Cash Dividends
Annual dividends per share | Total annual | Payout ratio | Dividend | |||||||
At end of | At end of | At end of | on equity | |||||||
At year-end | Total | dividends | (consolidate) | |||||||
1st quarter | 2nd quarter | 3rd quarter | (consolidated) | |||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |||
FY2022 | ― | 20.00 | ― | 22.00 | 42.00 | 2,523 | 27.0 | 1.9 | ||
FY2023 | ― | 22.00 | ― | 55.00 | 77.00 | 4,543 | 26.6 | 3.0 | ||
FY2024 | ― | 26.00 | ― | 26.00 | 52.00 | 30.5 | ||||
(forecast) | ||||||||||
3. Forecasts of Consolidated Financial Results for FY2024 (From April 1, 2024 to March 31, 2025)
(%: changes from the | same period of the previous | fiscal year) | |||||||||||
Net sales | Operating income | Ordinary income | Net income | Net income | |||||||||
for the year attributable to | |||||||||||||
per share | |||||||||||||
owners of the parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
First half | 98,000 | -4.5 | 4,500 | -40.0 | 5,500 | -46.8 | 4,500 | -40.2 | 76.85 | ||||
FY 2024 | 200,000 | -3.5 | 11,000 | -23.9 | 13,000 | -31.0 | 10,000 | -41.1 | 170.77 |
* Notes
(1) Changes in significant subsidiaries during the period: None
(Changes in specified subsidiaries resulting in changes in scope of consolidation)
Newly included: | ― | (company name) |
Newly excluded: | ― | (company name) |
(2) Changes in accounting policies, accounting estimates and restatements
-
Changes in accounting policies with revision of accounting standards : None
② Changes other than ① : None
③ Changes in accounting estimates : Yes
④ Restatement : None
(3) Number of shares issued and outstanding (common stock)
- Number of shares outstanding at end of period (including treasury stock)
- Number of shares of treasury stock at end of period
- Average number of shares during the year ended March 31
FY2023 | 61,312,896 | shares | FY2022 | 61,312,896 | shares |
FY2023 | 2,755,384 | shares | FY2022 | 1,670,909 | shares |
FY2023 | 58,637,984 | shares | FY2022 | 59,886,553 | shares |
(Reference) Summary of non-consolidated business results
1. Non-Consolidated Financial Result for FY2023 (From April 1, 2023 to March 31, 2024) (1)Non-consolidatedfinancial results
(%: changes from the same period of the previous fiscal year)
Net sales | Operating income | Ordinary income | Net income | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
FY 2023 | 79,144 | -4.4 | 6,247 | 27.0 | 12,977 | 20.7 | 14,466 | 75.8 | |||
FY 2022 | 82,784 | 1.5 | 4,917 | -19.3 | 10,750 | -4.3 | 8,228 | -0.5 | |||
Net income | Diluted net income | ||||||||||
per share | per share | ||||||||||
Yen | Yen | ||||||||||
FY 2023 | 244.83 | 244.34 | |||||||||
FY 2022 | 136.37 | 136.11 |
(1)Non-consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | ||||
Millions of yen | Millions of yen | % | Yen | ||||
FY 2023 | 207,972 | 107,292 | 51.5 | 1,816.66 | |||
FY 2022 | 191,397 | 93,140 | 48.6 | 1,548.37 | |||
(Reference) Equity: | FY2023: 107,194 million yen | FY2022: 93,043 million yen |
* Indication regarding status of performance of audit procedures
This summary of financial results is not subject to the audit procedures in accordance with the Financial Instruments and Exchange Act. As of the time of disclosure of this summary of financial results, the audit procedures for consolidated financial statements under the Financial Instruments and Exchange Act have not been completed.
- Explanation about appropriate use of the financial results forecasts, and other noteworthy matters Statements related to the future, including the forecasts of financial results, described in this document are based on information currently available to Pacific industrial and on certain assumptions deemed by Pacific industrial to be rational.
Consolidated Balance Sheets
(Million Yen) | |||||
FY2022 | FY2023 | FY2022 | FY2023 | ||
(As of Mar.31, 2023) | (As of Mar.31, 2024) | (As of Mar.31, 2023) | (As of Mar.31, 2024) | ||
(Assets) | (Liabilities) | ||||
Current Assets | 90,690 | 102,147 | Current Liabilities | 52,635 | 53,678 |
Cash and time deposits | 32,088 | 45,120 | Trade notes and accounts payable | 14,394 | 13,942 |
Notes receivable - trade | 1,544 | 1,601 | Electronically recorded obligations - operating | 6,832 | 6,530 |
Accounts receivable | 29,683 | 27,965 | Short-term borrowings | 1,015 | 10 |
Merchandise and finished goods | 9,522 | 7,522 | Current portion of long-term borrowings | 6,851 | 6,969 |
Work in process | 7,414 | 7,689 | Accounts payable | 5,285 | 6,749 |
Raw materials and supplies | 6,185 | 6,797 | Accrued expenses | 2,226 | 3,460 |
Accounts receivable | 3,228 | 4,970 | Income taxes payable | 2,040 | 7,044 |
Other current assets | 1,196 | 644 | Consumption taxes payable | 107 | 123 |
Less: Allowance for doubtful accounts | (173) | (164) | Deposit received | 334 | 403 |
Allowance for bonuses | 1,605 | 1,844 | |||
Fixed Assets | 167,367 | 190,308 | Notes payable - facilities | 120 | 22 |
Other current liabilities | 11,822 | 6,577 | |||
Property, Plant and Equipment | 111,924 | 128,980 | |||
Buildings and structures | 32,658 | 50,445 | Noncurrent Liabilities | 66,701 | 71,380 |
Machinery and vehicles | 46,081 | 50,328 | |||
Tools, Furniture, and fixtures | 2,297 | 2,475 | Long-term borrowings | 53,350 | 54,958 |
Land | 10,651 | 11,414 | Deferred tax liabilities | 10,042 | 12,816 |
Lease Asset | 1,311 | 1,526 | Provision for directors retirement benefit | 173 | 180 |
Construction in progress | 18,924 | 12,789 | Net defined benefit liabilities | 553 | 665 |
Other noncurrent liabilities | 2,580 | 2,759 | |||
Intangible Fixed Assets | 11,545 | 6,059 | |||
Goodwill | 6,219 | 2,883 | Total Liabilities | 119,337 | 125,058 |
Other | 5,325 | 3,176 | |||
Investments and Other Assets | 43,897 | 55,267 | (Net assets) | ||
Investments in securities | 36,636 | 43,493 | Shareholders' Equity | 107,854 | 120,941 |
Long-term loans | 27 | 10 | Capital stock | 7,316 | 7,316 |
Deferred tax assets | 364 | 171 | Capital surplus | 7,686 | 7,690 |
Net defined benefit asset | 6,118 | 10,853 | Retained earnings | 94,044 | 108,399 |
Other fixed assets | 752 | 741 | Less:Treasury stock at cost | (1,193) | (2,465) |
Less: Allowance for doubtful accounts | (1) | (2) | |||
Valuation and Translation Adjustment | 29,862 | 45,369 | |||
Valuation difference on available securities | 16,100 | 19,694 | |||
Foreign currency translation adjustments | 13,154 | 22,094 | |||
Remeasurement of defined benefit plan | 608 | 3,580 | |||
Subscription rights to shares | 97 | 97 | |||
Minority Interests | 905 | 988 | |||
Total Net Assets | 138,721 | 167,397 | |||
Total Assets | 258,058 | 292,455 | Total Liabilities and Net Assets | 258,058 | 292,455 |
Consolidated Statements of Income
(Million Yen) | |||
FY2022 | FY2023 | ||
For the Year Ended | For the Year Ended | ||
Mar.31, 2023 | Mar.31, 2024 | ||
Net sales | 191,254 | 207,348 | |
Cost of sales | 168,424 | 177,558 | |
Gross profit | 22,829 | 29,790 | |
Selling, general and administrative expenses | 13,531 | 15,334 | |
Operating Income (loss) | 9,298 | 14,456 | |
Non-operating income | 4,231 | 4,740 | |
Interest income | 103 | 483 | |
Dividend income | 767 | 896 | |
Equity in earnings of affiliated companies | 782 | 1,384 | |
Foreign exchange gain | 1,130 | 1,348 | |
Gain on sales of investment securities | 649 | - | |
Other non-operating income | 797 | 626 | |
Non-operating Expenses | 320 | 360 | |
Interest expense | 285 | 329 | |
Other non-operating expense | 35 | 31 | |
Ordinary income (loss) | 13,209 | 18,836 | |
Extraordinary income | - | 15,520 | |
Gain on sales of investment securities | - | 15,520 | |
Extraordinary Losses | 298 | 7,903 | |
Loss on sales and retirements of fixed assets | 149 | 350 | |
Impairment loss | 148 | 7,553 | |
Profit (loss) before income taxes and non controlling interests | 12,911 | 26,452 | |
Income taxes | 3,498 | 9,436 | |
Current term net profit (loss) | 9,412 | 17,015 | |
Profit (loss) attributable to non-controlling interests | 110 | 40 | |
Profit (loss) attributable to owners of parent | 9,301 | 16,974 |
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Pacific Industrial Co. Ltd. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 07:14:17 UTC.