Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2021 (Based on Japanese GAAP)
February 14, 2022 | ||||
Company name: | SPACE VALUE HOLDINGS CO., LTD. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 1448 | URL https://www.svh.co.jp | ||
Representative: | President & CEO | Naoki Morioka | ||
Inquiries: | Director/General Manager of Corporate | Junya Kikuchi | TEL 03-5439-6070 | |
Headquarters | ||||
Scheduled date to file Quarterly Securities Report: | February 14, 2022 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | ||||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||||||||
owners of parent | |||||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||||||
Nine months ended December 31, 2021 | 51,104 | (3.4) | 743 | - | 870 | 167.1 | 19 | (98.2) | |||||||||||||
Nine months ended December 31, 2020 | 52,912 | (10.7) | 34 | (97.2) | 326 | (77.4) | 1,074 | 154.7 | |||||||||||||
Note: Comprehensive income Nine months ended December 31, 2021 | ¥(162) million | [-%] | |||||||||||||||||||
Nine months ended December 31, 2020 | ¥2,301 million | [36.6%] | |||||||||||||||||||
Earnings per share | Diluted earnings per share | ||||||||||||||||||||
Yen | Yen | ||||||||||||||||||||
Nine months ended December 31, 2021 | 0.55 | 0.55 | |||||||||||||||||||
Nine months ended December 31, 2020 | 30.57 | 30.53 | |||||||||||||||||||
(2) Consolidated financial position | |||||||||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||||||||
Millions of yen | Millions of yen | % | |||||||||||||||||||
As of December 31, 2021 | 73,280 | 25,242 | 34.4 | ||||||||||||||||||
As of March 31, 2021 | 79,175 | 25,895 | 32.6 | ||||||||||||||||||
Reference: Equity | As of December 31, 2021 | ¥25,187 million | |||||||||||||||||||
As of March 31, 2021 | ¥25,821 million | ||||||||||||||||||||
2. Cash dividends | |||||||||||||||||||||
Annual dividends per share | |||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |||||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||||
Year ended March 31, 2021 | - | 0.00 | - | 15.00 | 15.00 | ||||||||||||||||
Year ending March 31, 2022 | - | 0.00 | - | ||||||||||||||||||
Year ending March 31, 2022 (Forecast) | 0.00 | 0.00 |
Note: Revisions to the cash dividend forecasts most recently announced: None
As indicated in the "Notice Concerning Revision of Fiscal Year-End Dividend Forecast (No Dividend) for the Year Ending March 31, 2022 and Abolition of Shareholder Benefits System" released on November 12, 2021, because a tender offer by PTCJ-2 Holdings Inc. for the Company's shares, etc. was completed, the Company will not pay a fiscal year-end dividend for the year ending March 31, 2022.
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3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
As indicated in the "Notice Concerning Results of Tender Offer by PTCJ-2 Holdings Inc. for the Company's Shares etc. and Changes of Parent Company and Largest Shareholder as a Major Shareholder" released on December 28, 2021 and the "Notice Concerning Deletion of Provisions Regarding Consolidation of Shares and Number of Shares Constituting One Unit and Amendments to the Articles of Incorporation" released on February 4, 2022, because the Company plans to delist its shares through a series of procedures, the Company will not present the forecast of consolidated financial results for the year ending March 31, 2022.
4. Notes
- Changes in significant subsidiaries during the nine months ended December 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
Yes
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021 | 35,556,584 | shares | As of March 31, 2021 | 35,556,584 | shares | |
Number of treasury shares at the end of the period | ||||||
As of December 31, 2021 | 127,176 | shares | As of March 31, 2021 | 194,454 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Nine months ended December 31, 2021 | 35,185,622 | shares | Nine months ended December 31, 2020 | 35,150,361 | shares |
Note: The number of treasury shares at the end of each period does not include shares of the Company held by share-based benefit trusts (194,308 shares as of December 31, 2021 and 200,508 shares as of March 31, 2021). Also, the shares of the Company held by the share-based benefit trusts are included in treasury shares that are deducted for calculation of the average number of outstanding shares during the period (196,811 shares for the nine months ended December 31, 2021 and 201,502 shares for the nine months ended December 31, 2020).
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Explanation of proper use of financial results forecast, and other special matters
(Caution concerning forward-looking statements)
The forward-looking statements shown in this document, including the financial results forecast, are based on information currently available to the Company and on certain assumptions deemed to be reasonable by the Company. As such, they do not constitute guarantees by the Company of future performance. Actual performance and other results may differ materially due to various factors.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 6,654 | 7,554 | |
Notes receivable, accounts receivable from completed | 20,965 | - | |
construction contracts | |||
Notes receivable accounts receivable from completed | - | 18,082 | |
construction contracts and contract assets | |||
Accrued rental income | 6,560 | - | |
Accrued rental income and contract assets | - | 6,092 | |
Real estate for sale | 1,654 | 2,572 | |
Real estate for sale in process | 255 | 800 | |
Costs on construction contracts in progress | 1,580 | 825 | |
Other inventories | 750 | 891 | |
Other | 1,555 | 1,685 | |
Allowance for doubtful accounts | (167) | (68) | |
Total current assets | 39,809 | 38,436 | |
Non-current assets | |||
Property, plant and equipment | |||
Rental ,net | 2,774 | 2,840 | |
Buildings and structures, net | 5,591 | 5,350 | |
Land | 8,318 | 8,251 | |
Other, net | 5,219 | 4,124 | |
Total property, plant and equipment | 21,904 | 20,566 | |
Intangible assets | |||
Goodwill | 2,819 | 2,747 | |
Other | 1,527 | 1,652 | |
Total intangible assets | 4,347 | 4,399 | |
Investments and other assets | |||
Investment securities | 11,164 | 7,903 | |
Other | 2,356 | 2,381 | |
Allowance for doubtful accounts | (406) | (407) | |
Total investments and other assets | 13,113 | 9,878 | |
Total non-current assets | 39,366 | 34,844 | |
Total assets | 79,175 | 73,280 |
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(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes payable, accounts payable for construction contracts | 14,567 | 13,970 | |
and other | |||
Short-term borrowings | 9,144 | 7,500 | |
Current portion of long-term borrowings | 3,737 | 3,935 | |
Income taxes payable | 694 | 284 | |
Advances received on construction contracts in progress | 1,364 | 2,192 | |
Advances received-rental | 2,001 | 1,127 | |
Provision for loss on construction contracts | 1,087 | 1,046 | |
Provision for warranties for completed construction | 368 | 446 | |
Provision for bonuses | 689 | 332 | |
Other provisions | 82 | 243 | |
Other | 4,076 | 3,416 | |
Total current liabilities | 37,814 | 34,495 | |
Non-current liabilities | |||
Long-term borrowings | 10,460 | 9,128 | |
Retirement benefit liability | 1,891 | 1,921 | |
Other provisions | 152 | 176 | |
Other | 2,961 | 2,316 | |
Total non-current liabilities | 15,465 | 13,542 | |
Total liabilities | 53,279 | 48,038 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 7,000 | 7,000 | |
Capital surplus | 1,774 | 1,221 | |
Retained earnings | 13,687 | 13,707 | |
Treasury shares | (380) | (299) | |
Total shareholders' equity | 22,081 | 21,629 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 3,784 | 3,461 | |
Foreign currency translation adjustment | 18 | 147 | |
Remeasurements of defined benefit plans | (62) | (50) | |
Total accumulated other comprehensive income | 3,740 | 3,558 | |
Share acquisition rights | 73 | 54 | |
Total net assets | 25,895 | 25,242 | |
Total liabilities and net assets | 79,175 | 73,280 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Nine months ended | Nine months ended | ||
December 31, 2020 | December 31, 2021 | ||
Net sales | |||
Net sales of completed construction contracts | 43,190 | 39,824 | |
Rental sales | 9,439 | 10,776 | |
Sales in development business | 281 | 502 | |
Total net sales | 52,912 | 51,104 | |
Cost of sales | |||
Cost of sales of completed construction contracts | 37,891 | 34,691 | |
A rental cost | 7,357 | 8,265 | |
Cost of sales in development business | 165 | 366 | |
Total cost of sales | 45,414 | 43,323 | |
Gross profit | |||
Gross profit on completed construction contracts | 5,299 | 5,133 | |
Gross profit on rental | 2,081 | 2,511 | |
Gross profit - development business | 116 | 136 | |
Total gross profit | 7,497 | 7,781 | |
Selling, general and administrative expenses | 7,462 | 7,037 | |
Operating profit | 34 | 743 | |
Non-operating income | |||
Interest income | 15 | 12 | |
Dividend income | 203 | 96 | |
Land and house rent received | 24 | 25 | |
Purchase discounts | 14 | 13 | |
Subsidy income | 183 | - | |
Other | 172 | 215 | |
Total non-operating income | 613 | 362 | |
Non-operating expenses | |||
Interest expenses | 135 | 114 | |
Rent cost of real estate | 12 | 11 | |
Commission for syndicated loans | 33 | 35 | |
Settlement package | 80 | - | |
Other | 61 | 74 | |
Total non-operating expenses | 321 | 235 | |
Ordinary profit | 326 | 870 | |
Extraordinary income | |||
Gain on sale of non-current assets | 737 | 10 | |
Gain on sale of investment securities | - | 504 | |
Other | 1 | 31 | |
Total extraordinary income | 739 | 547 |
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Space Value Holdings Co. Ltd. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 07:31:05 UTC.