SRI FACTBOOK 2022
Consolidated Financial Statements
(1) Consolidated Financial Statements
(i) Consolidated Statement of Financial Position
Millions of yen
Note | As of Dec. 31, 2021 | As of Dec. 31, 2022 |
Liabilities and Equity
Liabilities
Current liabilities
Bonds and loans payable
Millions of yen | ||
Note | As of Dec. 31, 2021 | As of Dec. 31, 2022 |
15, 19 | ¥68,143 | ¥100,895 |
Assets
Current assets
Cash and cash equivalents
Trade and other receivables
Other financial assets
Inventories
Other current assets
Total current assets
Non-current assets
Property, plant and equipment Goodwill
Intangible assets
Investments accounted for using equity method Other financial assets
Net defined benefit assets Deferred tax assets Other non-current assets Total non-current assets
Total assets
6, 19 | ¥75,093 | ¥73,846 |
7, 19 | 197,320 | 209,009 |
19 | 2,096 | 6,950 |
8 | 218,019 | 283,501 |
40,553 | 50,593 | |
533,081 | 623,899 | |
9, 11 | 389,795 | 436,307 |
10, 11 | 26,287 | 26,412 |
10, 11 | 42,794 | 45,919 |
13 | 4,430 | 4,462 |
19 | 36,889 | 34,303 |
17 | 41,458 | 38,899 |
18 | 10,641 | 12,953 |
794 | 2,048 | |
553,088 | 601,303 | |
¥1,086,169 | ¥1,225,202 |
Trade and other payables
Other financial liabilities
Income tax payable
Provisions
Other current liabilities
Total current liabilities
Non-current liabilities
Bonds and loans payable
Other financial liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
Equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Other components of equity
Total equity attributable to owners of the parent Non-controlling interests
Total equity
Total liabilities and equity
14, 19 | 160,902 | 176,151 |
12, 19 | 12,100 | 14,431 |
6,301 | 7,980 | |
16 | 1,604 | 1,299 |
47,535 | 52,152 | |
296,585 | 352,908 | |
15, 19 | 170,502 | 210,907 |
12, 19 | 46,919 | 48,191 |
17 | 23,417 | 21,333 |
16 | 1,818 | 1,654 |
18 | 12,093 | 4,690 |
21,292 | 21,656 | |
276,041 | 308,431 | |
572,626 | 661,339 | |
20 | 42,658 | 42,658 |
20 | 39,715 | 39,705 |
20 | 481,455 | 478,379 |
20 | (85) | (61) |
20 | (62,203) | (14,481) |
501,540 | 546,200 | |
29 | 12,003 | 17,663 |
513,543 | 563,863 | |
¥1,086,169 | ¥1,225,202 |
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SRI FACTBOOK 2022
(ii) Consolidated Statement of Income
Sales revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Business profit
Other income Other expenses Operating profit Financial income Financial expenses
Share of (profit) loss of entities accounted for using equity method Profit before tax
Income tax expenses
Profit for the year
Profit attributable to:
Owners of the parent company
Non-controlling interests
Profit for the year
Earnings per share
Basic earnings per share (yen)
Millions of yen | ||
Note | Jan. 1 to Dec. 31, 2021 | Jan. 1 to Dec. 31, 2022 |
5, 22 | ¥936,039 | ¥1,098,664 |
(676,341) | (845,442) | |
259,698 | 253,222 | |
23 | (207,723) | (231,259) |
51,975 | 21,963 | |
24 | 2,668 | 3,093 |
11, 24 | (5,474) | (10,068) |
49,169 | 14,988 | |
25 | 1,797 | 11,519 |
25 | (6,289) | (4,041) |
13 | 88 | 73 |
44,765 | 22,539 | |
18 | (14,779) | (10,083) |
¥29,986 | ¥12,456 | |
29,470 | 9,415 | |
29 | 516 | 3,041 |
¥29,986 | ¥12,456 | |
26 | ¥112.05 | ¥35.80 |
(iii) Consolidated Statement of Comprehensive Income
Millions of yen | |||
Note | Jan. 1 to Dec. 31, 2021 | Jan. 1 to Dec. 31, 2022 | |
Profit for the year | ¥29,986 | ¥12,456 | |
Other comprehensive income | |||
Items that will not be reclassified to profit or loss | |||
Financial assets measured at fair value through other comprehensive income | 21 | 1,857 | (1,239) |
Remeasurements of defined benefit plan | 21 | 5,925 | (1,253) |
Items that may be reclassified subsequently to profit or loss | |||
Cash flow hedges | 21 | 115 | 154 |
Currency translation differences of foreign operations | 21 | 25,103 | 44,836 |
Other comprehensive income, net of tax | 33,000 | 42,498 | |
Total comprehensive income for the year | ¥62,986 | ¥54,954 | |
Total comprehensive income for the year attributable to: | |||
Owners of the parent company | 62,356 | 49,752 | |
Non-controlling interests | 29 | 630 | 5,202 |
Total comprehensive income for the year | ¥62,986 | ¥54,954 |
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SRI FACTBOOK 2022
(iv) Consolidated Statement of Changes in Equity
January 1 to December 31, 2021 | Millions of yen | ||||||
Equity attributable to owners of the parent company | |||||||
Other components of equity | |||||||
Currency | |||||||
translation | |||||||
differences of | Cash flow | ||||||
Note | Capital stock | Capital surplus | Retained earnings | Treasury stock | foreign operations | hedges | |
Balance as of January 1, 2021 | ¥42,658 | ¥39,486 | ¥461,720 | ¥(77) | ¥(99,270) | ¥(241) | |
Profit for the year | 29,470 | ||||||
Other comprehensive income | 21 | 25,032 | 115 | ||||
Total comprehensive income | - | - | 29,470 | - | 25,032 | 115 | |
Purchase of treasury stock | 20 | (8) | |||||
Disposal of treasury stock | 20 | (0) | 0 | ||||
Dividends | 28 | (15,780) | |||||
Increase (decrease) attributable to | |||||||
capital increase undertaken by | |||||||
consolidated subsidiaries | |||||||
Changes in ownership interests in | 229 | ||||||
subsidiaries without a loss of control | |||||||
Share-based payment transactions | 34 | ||||||
Transfer to retained earnings | 6,045 | ||||||
Transfer to capital surplus | 0 | (0) | |||||
Other | |||||||
Total transactions with owners | - | 229 | (9,735) | (8) | - | - | |
Balance as of December 31, 2021 | ¥42,658 | ¥39,715 | ¥481,455 | ¥(85) | ¥(74,238) | ¥(126) | |
Equity attributable to owners of the parent company | |||||||
Other components of equity | |||||||
Financial assets | |||||||
measured at fair | |||||||
value through | |||||||
other | Remeasurements | ||||||
comprehensive | of defined benefit | Non-controlling | |||||
Note | income | plan | Total | Total | interests | Total equity | |
Balance as of January 1, 2021 | ¥10,467 | ¥- | ¥(89,044) | ¥454,743 | ¥12,354 | ¥467,097 | |
Profit for the year | - | 29,470 | 516 | 29,986 | |||
Other comprehensive income | 21 | 1,849 | 5,890 | 32,886 | 32,886 | 114 | 33,000 |
Total comprehensive income | 1,849 | 5,890 | 32,886 | 62,356 | 630 | 62,986 | |
Purchase of treasury stock | 20 | - | (8) | (8) | |||
Disposal of treasury stock | 20 | - | 0 | 0 | |||
Dividends | 28 | - | (15,780) | (1,801) | (17,581) | ||
Increase (decrease) attributable to | |||||||
capital increase undertaken by | - | - | 1,325 | 1,325 | |||
consolidated subsidiaries | |||||||
Changes in ownership interests in | - | 229 | (505) | (276) | |||
subsidiaries without a loss of control | |||||||
Share-based payment transactions | 34 | ||||||
Transfer to retained earnings | (155) | (5,890) | (6,045) | - | - | ||
Transfer to capital surplus | - | - | - | ||||
Other | |||||||
Total transactions with owners | (155) | (5,890) | (6,045) | (15,559) | (981) | (16,540) | |
Balance as of December 31, 2021 | ¥12,161 | ¥- | ¥(62,203) | ¥501,540 | ¥12,003 | ¥513,543 |
January 1 to December 31, 2022
Balance as of January 1, 2022
Hyperinflation adjustment Restated balance Profit for the year
Other comprehensive income Total comprehensive income
Purchase of treasury stock Disposal of treasury stock Dividends
Increase (decrease) attributable to capital increase undertaken by consolidated subsidiaries Changes in ownership interests in subsidiaries without a loss of control
Share-based payment transactions
Transfer to retained earnings
Transfer to capital surplus
Other
Total transactions with owners
Balance as of December 31, 2022
Balance as of January 1, 2022
Hyperinflation adjustment
Restated balance
Profit for the year
Other comprehensive income
Total comprehensive income
Purchase of treasury stock
Disposal of treasury stock
Dividends
Increase (decrease) attributable to capital increase undertaken by consolidated subsidiaries Changes in ownership interests in subsidiaries without a loss of control
Share-based payment transactions
Transfer to retained earnings
Transfer to capital surplus
Other
Total transactions with owners
Balance as of December 31, 2022
Millions of yen | ||||||
Equity attributable to owners of the parent company | ||||||
Other components of equity | ||||||
Currency | ||||||
translation | ||||||
differences of | Cash flow | |||||
Note | Capital stock | Capital surplus | Retained earnings | Treasury stock | foreign operations | hedges |
¥42,658 | ¥39,715 | ¥481,455 | ¥(85) | ¥(74,238) | ¥(126) | |
33 | 1,811 | 6,328 | ||||
42,658 | 39,715 | 483,266 | (85) | (67,910) | (126) | |
9,415 | ||||||
21 | 42,766 | 153 | ||||
- | - | 9,415 | - | 42,766 | 153 | |
20 | (3) | |||||
20 | (0) | 0 | ||||
28 | (13,150) | |||||
34 | (10) | 27 | ||||
(1,057) | ||||||
10 | (10) | |||||
(10) | (85) | |||||
- | (10) | (14,302) | 24 | - | - | |
¥42,658 | ¥39,705 | ¥478,379 | ¥(61) | ¥(25,144) | 27 | |
Equity attributable to owners of the parent company | ||||||
Other components of equity | ||||||
Financial assets | ||||||
measured at fair | ||||||
value through | ||||||
other | Remeasurements | |||||
comprehensive | of defined benefit | Non-controlling | ||||
Note | income | plan | Total | Total | interests | Total equity |
¥12,161 | ¥- | ¥(62,203) | ¥501,540 | ¥12,003 | ¥513,543 | |
33 | 6,328 | 8,139 | 2,035 | 10,174 | ||
12,161 | - | (55,875) | 509,679 | 14,038 | 523,717 | |
- | 9,415 | 3,041 | 12,456 | |||
21 | (1,240) | (1,342) | 40,337 | 40,337 | 2,161 | 42,498 |
(1,240) | (1,342) | 40,337 | 49,752 | 5,202 | 54,954 | |
20 | - | (3) | (3) | |||
20 | - | 0 | 0 | |||
28 | - | (13,150) | (1,577) | (14,727) | ||
- | - | - | ||||
- | - | - | ||||
34 | - | 17 | 17 | |||
(285) | 1,342 | 1,057 | - | - | ||
- | - | - | ||||
- | (95) | (95) | ||||
(285) | 1,342 | 1,057 | (13,231) | (1,577) | (14,808) | |
¥10,636 | ¥- | ¥(14,481) | ¥546,200 | ¥17,663 | ¥563,863 |
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SRI FACTBOOK 2022
(v) Consolidated Statement of Cash Flows
Millions of yen | |||
Note | Jan. 1 to Dec. 31, 2021 | Jan. 1 to Dec. 31, 2022 | |
Cash flows from operating activities | |||
Profit before tax | ¥44,765 | ¥22,539 | |
Depreciation and amortization | 67,724 | 75,348 | |
Impairment loss | 11 | 139 | 4,137 |
Interest and dividend income | (1,683) | (2,907) | |
Interest expenses | 2,797 | 3,637 | |
Share of (profit) loss of entities accounted for using equity method | (88) | (73) | |
Loss (gain) on sales and retirement of non-current assets | 1,489 | 1,714 | |
Decrease (increase) in inventories | (61,734) | (51,758) | |
Decrease (increase) in trade and other receivables | (10,882) | (875) | |
Increase (decrease) in trade and other payables | 33,121 | 10,205 | |
Other, net | 4,987 | (16,955) | |
Subtotal | 80,635 | 45,012 | |
Interest received | 963 | 1,944 | |
Dividend income received | 711 | 850 | |
Interest expense paid | (2,461) | (3,454) | |
Income taxes paid | (16,758) | (16,483) | |
Net cash provided by (used in) operating activities | 63,090 | 27,869 | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (47,726) | (67,324) | |
Proceeds from sales of property, plant and equipment | 1,068 | 555 | |
Purchase of intangible assets | (5,273) | (7,591) | |
Purchase of investment securities | (188) | (245) | |
Proceeds from sales of investment securities | 19 | 483 | |
Payment for transfer of business | (1,048) | (2,330) | |
Net decrease (increase) in short-term loans receivable | 33 | 10 | |
Other, net | (908) | (2,255) | |
Net cash provided by (used in) investing activities | (54,023) | (78,697) | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term loans payable | 27 | 20,901 | 17,584 |
Proceeds from long-term debt and newly issued bonds | 27 | 37,002 | 75,234 |
Repayments of long-term debt and redemption of bonds | 27 | (41,048) | (23,096) |
Repayments of lease liabilities | 27 | (13,382) | (13,438) |
Proceeds from contributions of non-controlling interests | 1,325 | ― | |
Purchase of shares of non-controlling interests | (545) | ― | |
Cash dividends paid | 28 | (15,776) | (13,148) |
Cash dividends paid to non-controlling interests | (1,801) | (1,577) | |
Other, net | (8) | (3) | |
Net cash provided by (used in) financing activities | (13,332) | 41,556 | |
Effect of exchange rate changes on cash and cash equivalents | 5,155 | 8,025 | |
Net increase (decrease) in cash and cash equivalents | 890 | (1,247) | |
Cash and cash equivalents at the beginning of current period | 6 | 74,203 | 75,093 |
Cash and cash equivalents at the end of current period | 6 | ¥75,093 | ¥73,846 |
Notes to Consolidated Financial Statements
1. Reporting Company
Sumitomo Rubber Industries, Ltd. (hereinafter the "Company") is based in Japan. The consolidated financial statements presented herein comprise the operating results for the fiscal year ended December 31, 2022 recorded by the Sumitomo Rubber Group and the Company's affiliates. For a description of the Group's primary business activities, please refer to Note 5. "Segment Information."
2. Basis for Preparation
(1) Compliance with IFRS
In accordance with Article 93 of the Ordinance on Terminology, Forms, and Preparation Methods of Consolidated Financial Statements (Ordinance of the Ministry of Finance No. 28 in 1976), the Group's consolidated financial statements have been prepared in conformity with International Financial Reporting Standards (IFRS), as the Company meets the requirements concerning a "Designated International Accounting Standards Specified Company" prescribed in Article 1-2.
The consolidated financial statements presented herein were approved by Satoru Yamamoto, Representative Director and President of the Company, on March 28, 2023.
(2) Basis for Measurements
As stated in Note 3. "Significant Accounting Policies," the consolidated financial statements have been prepared based on historical cost, except for specific financial instruments that are measured at fair value and financial statements prepared by a subsidiary in Turkey and consolidated via the adoption of hyperinflationary economy accounting.
(3) Presentation Currency and Unit
The Company uses Japanese yen as the primary functional currency for its operations and as the presentation currency used in preparing its consolidated financial statements. Figures are rounded to the nearest million yen.
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SRI - Sumitomo Rubber Industries Ltd. published this content on 26 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2023 07:30:06 UTC.