Disclaimer: This financial information, a digest of Taisei Corporation's "Consolidated Financial Results for the Six Months Ended September 30, 2023" ("Kessan Tanshin") disclosed at the Tokyo Stock Exchange on November 13, 2023 was translated into English and presented solely for the convenience of non-Japanese speaking users. If there is any discrepancy between Japanese "Kessan Tanshin" and this document, Japanese "Kessan Tanshin" shall prevail.
November 13, 2023
Consolidated Financial Results for the Six Months Ended September 30, 2023
[Japanese GAAP]
Listed company name: | Taisei Corporation |
Stock exchange listings: | Tokyo Stock Exchange, Prime Market |
Nagoya Stock Exchange, Premier Market | |
Stock code: | 1801 |
Location of headquarters: | Tokyo, Japan |
Website: | https://www.taisei.co.jp/ |
Representative: | Yoshiro Aikawa, President and Chief Executive Officer |
Contact: | Yuichi Nakano, General Manager of Accounting Department |
TEL: | 81-3-3348-1111 (from overseas) |
Scheduled date for submission | |
of quarterly report: | November 14, 2023 |
Scheduled date for dividend payment: | December 4, 2023 |
Supplementary materials for | |
quarterly financial summaries: | Yes |
Quarterly financial results briefing: | Yes (for analysts and institutional investors) |
1. Consolidated financial results for the six months ended September 30, 2023
(From April 1, 2023 to September 30, 2023) | |||||||||||||||||||||||||||||
(1) Operating results (cumulative total) | (Millions of yen, rounded down) | ||||||||||||||||||||||||||||
(Percentages indicate changes from the same period in the previous fiscal year.) | |||||||||||||||||||||||||||||
Net sales | Operating income | Ordinary income | Net income attributable | ||||||||||||||||||||||||||
to owners of parent | |||||||||||||||||||||||||||||
% | % | % | % | ||||||||||||||||||||||||||
FY2023(Second quarter-end) | 738,133 | 2.7 | 13,069 | (41.7) | 18,306 | (34.0) | 14,873 | (19.7) | |||||||||||||||||||||
As of September 30, 2023 | |||||||||||||||||||||||||||||
FY2022(Second quarter-end) | 718,541 | 14.4 | 22,413 | (9.4) | 27,728 | (2.1) | 18,518 | (5.5) | |||||||||||||||||||||
As of September 30, 2022 | |||||||||||||||||||||||||||||
(Note) Comprehensive income: | FY2023(Second quarter-end) | 48,956 million yen | 129.3% | ||||||||||||||||||||||||||
FY2022(Second quarter-end) | 21,350 million yen | 3.2% | |||||||||||||||||||||||||||
Net income per share | Diluted net income per share | ||||||||||||||||||||||||||||
yen | yen | ||||||||||||||||||||||||||||
FY2023(Second quarter-end) | 79.21 | ― | |||||||||||||||||||||||||||
As of September 30, 2023 | |||||||||||||||||||||||||||||
FY2022(Second quarter-end) | 93.20 | ― | |||||||||||||||||||||||||||
As of September 30, 2022 | |||||||||||||||||||||||||||||
(2) Financial position | (Millions of yen, rounded down) | ||||||||||||||||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||||||||||||||||
% | |||||||||||||||||||||||||||||
As of September 30, 2023 | 1,998,518 | 861,953 | 42.9 | ||||||||||||||||||||||||||
As of March 31, 2023 | 2,016,717 | 833,944 | 41.1 | ||||||||||||||||||||||||||
(Reference) Shareholders' equity: | As of September 30, 2023 | 856,683 million yen | |||||||||||||||||||||||||||
As of March 31, 2023 | 829,187 million yen |
1
2. Dividends
Dividends per share (yen) | ||||||
First quarter-end | Interim-end | Third quarter-end | Year-end | Total (Full year) | ||
FY2022 | ― | 65.00 | ― | 65.00 | 130.00 | |
FY2023 | ― | 65.00 | ||||
FY2023(forecast) | ― | 65.00 | 130.00 | |||
(Note) Revisions of projected dividends most recently announced: None
3. Consolidated results forecast for the fiscal year ending March 31, 2024 (FY2023)
(From April 1, 2023 to March 31, 2024)
(Millions of yen, rounded down) (Percentages indicate the rate of change from the same period of the previous fiscal year)
Net sales | Operating income | Ordinary income | Net income attributable | Net income | |||||
to owners of parent | per share | ||||||||
% | % | % | % | Yen | |||||
Full fiscal year | 1,690,000 | 2.9 | 64,000 | 16.9 | 67,000 | 6.1 | 47,000 | (0.3) | 251.81 |
(Note) Revisions of consolidated forecasts most recently announced: Yes |
*Notes
-
Changes in principal subsidiaries during the quarter under review
(Changes in specified subsidiaries accompanying changes in scope of consolidation): None - Adoption of specific accounting methods for the preparation of quarterly consolidated financial statements: Yes
- Changes in accounting principles, changes in accounting estimates and restatements
(i) | Changes in accounting principles due to revisions to accounting standards, etc.: | None |
(ii) | Changes due to accounting principles other than (i): | None |
(iii) | Changes in accounting estimates: | None |
(iv) | Restatements: | None |
- Number of shares outstanding (common stock)
- Number of shares outstanding at the end of period (including treasury stock)
As of September 30, 2023 | 188,771,572 shares |
As of March 31, 2023 | 188,771,572 shares |
ii. Number of treasury stock at the end of period | |
As of September 30, 2023 | 2,189,202 shares |
As of March 31, 2023 | 405,934 shares |
iii. Average number of shares during the period (quarterly cumulative total)
FY2023 (Second quarter end) | 187,777,191 shares |
FY2022 (Second quarter end) | 198,693,123 shares |
(Note) The number of treasury stock at the end of the period and number of treasury stock excluded for calculating average number of shares during the period include the Company's shares held by the Board Benefit Trust (BBT).
(As of September 30, 2023 99,400 shares, As of March 31, 2023 104,300 shares, As of September 30, 2022 104,300 shares)
- This financial statement is exempt from auditing procedures.
- Disclaimer regarding appropriate use of forecasts and related points of note
Earnings forecasts in this document are based on information available at present and logical assessments and do not represent any promise by the Company. Actual results may be materially different from expectations due to a variety of factors.
2
Overview of Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024
(Unit: 100 million yen; amounts less than 100 million yen are rounded to the nearest 100 million yen (partially adjusted for fractions))
First half | Full fiscal year | |||||||||||||||
Previous fiscal year | Current fiscal year | Previous fiscal year | Current fiscal year | |||||||||||||
(From April 1, 2022 | (From April 1, 2023 to | (From April 1, 2022 | ||||||||||||||
to September 30, | (From April 1, 2023 to March 31, 2024) | |||||||||||||||
September 30, 2023) | to March 31, 2023) | |||||||||||||||
2022) | ||||||||||||||||
Initial | ||||||||||||||||
Result | Result | Over previous | Result | Revised | Over previous | Over initial | ||||||||||
forecast | forecast | |||||||||||||||
fiscal year | fiscal year | forecast | ||||||||||||||
Amount of orders received | 9,453 | 6,904 | (2,549) | 18,104 | 17,800 | 15,900 | (2,204) | (1,900) | ||||||||
Civil engineering | 3,034 | 2,577 | (457) | 5,315 | 4,800 | 4,600 | (715) | (200) | ||||||||
Building construction | 5,744 | 3,582 | (2,162) | 11,525 | 11,700 | 10,000 | (1,525) | (1,700) | ||||||||
Real estate development | 632 | 695 | 63 | 1,149 | 1,200 | 1,200 | 51 | - | ||||||||
Other | 43 | 50 | 7 | 115 | 100 | 100 | (15) | - | ||||||||
Net sales | 7,185 | 7,381 | 196 | 16,427 | 17,600 | 16,900 | 473 | (700) | ||||||||
Civil engineering | 1,741 | 1,969 | 228 | 4,232 | 4,800 | 4,800 | 568 | - | ||||||||
Building construction | 4,772 | 4,692 | (80) | 10,927 | 11,500 | 10,800 | (127) | (700) | ||||||||
Real estate development | 629 | 670 | 41 | 1,153 | 1,200 | 1,200 | 47 | - | ||||||||
Other | 43 | 50 | 7 | 115 | 100 | 100 | (15) | - | ||||||||
Gross Profit | % | 9.1 | 7.9 | (1.2) | 9.0 | 9.4 | 9.8 | 0.8 | 0.4 | |||||||
656 | 584 | (72) | 1,478 | 1,660 | 1,660 | 182 | - | |||||||||
Civil engineering | % | 12.1 | 16.2 | 4.1 | 17.2 | 16.7 | 16.7 | (0.5) | - | |||||||
210 | 319 | 109 | 727 | 800 | 800 | 73 | - | |||||||||
Building construction | % | 6.4 | 1.8 | (4.6) | 4.4 | 4.9 | 5.0 | 0.6 | 0.1 | |||||||
307 | 84 | (223) | 486 | 565 | 540 | 54 | (25) | |||||||||
Real estate development | % | 19.8 | 24.9 | 5.1 | 20.5 | 22.5 | 25.0 | 4.5 | 2.5 | |||||||
167 | 300 | |||||||||||||||
125 | 42 | 236 | 270 | 64 | 30 | |||||||||||
Other | % | 33.3 | 27.7 | (5.6) | 24.9 | 25.0 | 20.0 | (4.9) | (5.0) | |||||||
14 | 14 | (0) | 29 | 25 | 20 | (9) | (5) | |||||||||
SG&A expenses | % | (6.0) | (6.1) | (0.1) | (5.7) | (5.8) | (6.0) | (0.3) | (0.2) | |||||||
(432) | (453) | (21) | (931) | (1,020) | (1,020) | (89) | - | |||||||||
Operating income | % | 3.1 | 1.8 | (1.3) | 3.3 | 3.6 | 3.8 | 0.5 | 0.2 | |||||||
224 | 131 | (93) | 547 | 640 | 640 | 93 | - | |||||||||
Non-operating income | 59 | 62 | 3 | 97 | 70 | 80 | (17) | 10 | ||||||||
Non-operating expenses | (6) | (10) | (4) | (13) | (40) | (50) | (37) | (10) | ||||||||
(Net financial revenue) | 27 | 30 | 3 | 50 | 36 | 50 | (0) | 14 | ||||||||
Ordinary income | % | 3.9 | 2.5 | (1.4) | 3.8 | 3.8 | 4.0 | 0.2 | 0.2 | |||||||
277 | 183 | (94) | 631 | 670 | 670 | 39 | - | |||||||||
Extraordinary income | 5 | 27 | 22 | 66 | - | 25 | (41) | 25 | ||||||||
Extraordinary loss | (6) | (1) | 5 | (16) | (10) | (5) | 11 | 5 | ||||||||
Income before income | % | 3.8 | 2.8 | (1.0) | 4.1 | 3.8 | 4.1 | - | 0.3 | |||||||
taxes and minority | ||||||||||||||||
276 | 209 | (67) | 681 | 660 | 690 | 9 | 30 | |||||||||
interests | ||||||||||||||||
Income taxes and others | (90) | (59) | 31 | (207) | (210) | (220) | (13) | (10) | ||||||||
Net income | % | 2.6 | 2.0 | (0.6) | 2.9 | 2.6 | 2.8 | (0.1) | 0.2 | |||||||
186 | 150 | (36) | 474 | 450 | 470 | (4) | 20 | |||||||||
Net income (loss) attributable | (1) | (1) | (0) | (3) | - | - | 3 | - | ||||||||
to non-controlling interests | ||||||||||||||||
Net income attributable to | % | 2.6 | 2.0 | (0.6) | 2.9 | 2.6 | 2.8 | (0.1) | 0.2 | |||||||
owners of parent | 185 | 149 | (36) | 471 | 450 | 470 | (1) | 20 |
* "Initial forecasts" refer to the earnings forecasts outlined on August 7, 2023.
3
Overview of Non-consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024
(Unit: 100 million yen; amounts less than 100 million yen are rounded to the nearest 100 million yen (partially adjusted for fractions))
First half | Full fiscal year | ||||||||||
Previous fiscal year | Current fiscal year | Previous fiscal year | Current fiscal year | ||||||||
(From April 1, 2022 | (From April 1, 2023 to | (From April 1, 2022 | |||||||||
to September 30, | (From April 1, 2023 to March 31, 2024) | ||||||||||
2022) | September 30, 2023) | to March 31, 2023) | |||||||||
Result | Result | Over previous | Result | Initial | Revised | Over previous | Over initial | ||||
fiscal year | forecast | forecast | fiscal year | forecast | |||||||
Amount of orders received | 7,685 | 5,293 | (2,392) | 14,725 | 14,200 | 12,600 | (2,125) | (1,600) | |||
Civil engineering | 2,337 | 1,882 | (455) | 3,956 | 3,300 | 3,300 | (656) | - | |||
Domestic | 1,713 | 1,803 | 90 | 3,528 | 3,100 | 3,100 | (428) | - | |||
Overseas | 624 | 79 | (545) | 428 | 200 | 200 | (228) | - | |||
Building construction | 5,277 | 3,193 | (2,084) | 10,514 | 10,600 | 9,000 | (1,514) | (1,600) | |||
Domestic | 5,120 | 2,835 | (2,285) | 10,847 | 10,000 | 8,600 | (2,247) | (1,400) | |||
Overseas | 157 | 358 | 201 | (333) | 600 | 400 | 733 | (200) | |||
Total | 7,614 | 5,075 | (2,539) | 14,470 | 13,900 | 12,300 | (2,170) | (1,600) | |||
Real estate development | 43 | 191 | 148 | 168 | 230 | 230 | 62 | - | |||
Other | 28 | 27 | (1) | 87 | 70 | 70 | (17) | - | |||
Net sales | 5,729 | 5,931 | 202 | 13,256 | 14,200 | 13,600 | 344 | (600) | |||
Civil engineering | 1,201 | 1,411 | 210 | 2,939 | 3,400 | 3,500 | 561 | 100 | |||
Domestic | 1,144 | 1,322 | 178 | 2,824 | 3,200 | 3,300 | 476 | 100 | |||
Overseas | 57 | 89 | 32 | 115 | 200 | 200 | 85 | - | |||
Building construction | 4,446 | 4,312 | (134) | 10,050 | 10,500 | 9,800 | (250) | (700) | |||
Domestic | 4,113 | 4,148 | 35 | 9,500 | 10,200 | 9,500 | 0 | (700) | |||
Overseas | 333 | 164 | (169) | 550 | 300 | 300 | (250) | - | |||
Total | 5,647 | 5,723 | 76 | 12,989 | 13,900 | 13,300 | 311 | (600) | |||
Real estate development | 54 | 181 | 127 | 180 | 230 | 230 | 50 | - | |||
Other | 28 | 27 | (1) | 87 | 70 | 70 | (17) | - | |||
Gross Profit | % | 8.1 | 6.7 | (1.4) | 8.1 | 8.2 | 8.8 | 0.7 | 0.6 | ||
465 | 396 | (69) | 1,077 | 1,170 | 1,200 | 123 | 30 | ||||
Civil engineering | % | 14.5 | 19.1 | 4.6 | 20.4 | 18.5 | 19.1 | (1.3) | 0.6 | ||
174 | 270 | 96 | 601 | 630 | 670 | 69 | 40 | ||||
Building construction | % | 5.9 | 1.1 | (4.8) | 3.6 | 3.9 | 4.1 | 0.5 | 0.2 | ||
263 | 47 | (216) | 358 | 410 | 400 | 42 | (10) | ||||
Total | % | 7.7 | 5.5 | (2.2) | 7.4 | 7.5 | 8.0 | 0.6 | 0.5 | ||
437 | 317 | (120) | 959 | 1,040 | 1,070 | 111 | 30 | ||||
Real estate development | % | 36.1 | 39.3 | 3.2 | 53.9 | 47.8 | 52.2 | (1.7) | 4.4 | ||
19 | 71 | 52 | 97 | 110 | 120 | 23 | 10 | ||||
Other | % | 31.3 | 30.8 | (0.5) | 23.7 | 28.6 | 14.3 | (9.4) | (14.3) | ||
9 | 8 | (1) | 21 | 20 | 10 | (11) | (10) | ||||
SG&A expenses | % | (5.2) | (5.5) | (0.3) | (5.0) | (5.1) | (5.3) | (0.3) | (0.2) | ||
(301) | (326) | (25) | (660) | (730) | (730) | (70) | - | ||||
Operating income | % | 2.9 | 1.2 | (1.7) | 3.1 | 3.1 | 3.5 | 0.4 | 0.4 | ||
164 | 70 | (94) | 417 | 440 | 470 | 53 | 30 | ||||
Non-operating income | 66 | 60 | (6) | 91 | 50 | 65 | (26) | 15 | |||
Non-operating expenses | (5) | (7) | (2) | (11) | (20) | (35) | (24) | (15) | |||
(Net financial revenue) | 43 | 37 | (6) | 71 | 37 | 54 | (17) | 17 | |||
Ordinary income | % | 3.9 | 2.1 | (1.8) | 3.7 | 3.3 | 3.7 | - | 0.4 | ||
225 | 123 | (102) | 497 | 470 | 500 | 3 | 30 | ||||
Extraordinary income | 4 | 22 | 18 | 27 | - | 25 | (2) | 25 | |||
Extraordinary loss | (7) | (2) | 5 | (17) | (10) | (5) | 12 | 5 | |||
Income before income | % | 3.9 | 2.4 | (1.5) | 3.8 | 3.2 | 3.8 | - | 0.6 | ||
taxes | 222 | 143 | (79) | 507 | 460 | 520 | 13 | 60 | |||
Income taxes and others | (67) | (44) | 23 | (137) | (140) | (160) | (23) | (20) | |||
Net income | % | 2.7 | 1.7 | (1.0) | 2.8 | 2.3 | 2.6 | (0.2) | 0.3 | ||
155 | 99 | (56) | 370 | 320 | 360 | (10) | 40 | ||||
- "Initial forecasts" refer to the earnings forecasts outlined on August 7, 2023.
4
Quarterly consolidated financial statements
(1) Quarterly consolidated balance sheet
(Millions of yen) | ||||
As of March 31, 2023 | As of September 30, 2023 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 415,950 | 339,777 | ||
Notes receivable, accounts receivable from completed | 688,768 | 625,264 | ||
construction contracts and other | ||||
Costs on construction contracts in progress | 67,658 | 104,435 | ||
Real estate for sale and development projects in progress | 131,439 | 153,360 | ||
Other inventories | 4,003 | 5,157 | ||
Other | 45,847 | 56,559 | ||
Allowance for doubtful accounts | (182) | (73) | ||
Total current assets | 1,353,485 | 1,284,483 | ||
Non-current assets | ||||
Property, plant and equipment | 213,349 | 211,527 | ||
Intangible assets | 17,581 | 16,701 | ||
Investments and other assets | ||||
Investment securities | 386,906 | 442,862 | ||
Retirement benefit asset | 10,875 | 10,631 | ||
Other | 36,489 | 34,459 | ||
Allowance for doubtful accounts | (1,969) | (2,146) | ||
Total investments and other assets | 432,300 | 485,806 | ||
Total non-current assets | 663,232 | 714,034 | ||
Total assets | 2,016,717 | 1,998,518 | ||
5
(Millions of yen)
As of March 31, 2023 | As of September 30, 2023 |
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other
Short-term borrowings
Short-termnon-recourse borrowings
Advances received on construction contracts in progress Provision for warranties for completed construction Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Long-termnon-recourse borrowings
Provision for retirement benefits for directors (and other officers)
Provision for share awards for directors (and other officers) Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
476,115 | 443,913 | |||
81,965 | 94,302 | |||
11 | 15 | |||
181,226 | 194,182 | |||
3,325 | 3,391 | |||
47,897 | 47,491 | |||
232,110 | 196,598 | |||
1,022,652 | 979,894 | |||
40,000 | 40,000 | |||
79,606 | 64,674 | |||
117 | 4,665 | |||
508 | 566 | |||
48 | 22 | |||
15,037 | 15,574 | |||
24,802 | 31,167 | |||
160,120 | 156,670 | |||
1,182,773 | 1,136,565 | |||
122,742 | 122,742 | |||
30,382 | 30,382 | |||
562,774 | 565,397 | |||
(906) | (9,732) | |||
714,992 | 708,789 | |||
97,090 | 128,373 | |||
(6) | 2 | |||
1,235 | 1,235 | |||
237 | 3,836 | |||
15,638 | 14,445 |
Total accumulated other comprehensive income | 114,194 | 147,893 | |
Non-controlling interests | 4,756 | 5,269 | |
Total net assets | 833,944 | 861,953 | |
Total liabilities and net assets | 2,016,717 | 1,998,518 | |
6
- Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income Quarterly consolidated statement of income
First half of FY2023 (April 1, 2023 to September 30, 2023)
(Millions of yen) | ||||
From April 1, 2022 | From April 1, 2023 | |||
to September 30, 2022 | to September 30, 2023 | |||
Net sales | ||||
Net sales of completed construction contracts | 643,592 | 658,227 | ||
Net sales in development business and other | 74,948 | 79,906 | ||
Total net sales | 718,541 | 738,133 | ||
Cost of sales | ||||
Cost of sales of completed construction contracts | 591,657 | 617,973 | ||
Cost of sales in development business and other | 61,276 | 61,714 | ||
Total cost of sales | 652,933 | 679,687 | ||
Gross profit | ||||
Gross profit on completed construction contracts | 51,935 | 40,253 | ||
Gross profit on development business and other | 13,671 | 18,191 | ||
Total gross profit | 65,607 | 58,445 | ||
Selling, general and administrative expenses | 43,194 | 45,376 | ||
Operating income | 22,413 | 13,069 | ||
Non-operating income | ||||
Interest income | 214 | 475 | ||
Dividends income | 2,903 | 3,037 | ||
Foreign exchange gains | 1,679 | 1,822 | ||
Other | 1,067 | 822 | ||
Total non-operating income | 5,865 | 6,157 | ||
Non-operating expenses | ||||
Interest expenses | 455 | 465 | ||
Taxes and dues | 39 | 245 | ||
Other | 54 | 209 | ||
Total non-operating expenses | 550 | 920 | ||
Ordinary income | 27,728 | 18,306 | ||
Extraordinary income | ||||
Gain on sale of non-current assets | 127 | 378 | ||
Gain on sales of investment securities | 310 | 2,212 | ||
Other | 78 | 157 | ||
Total extraordinary income | 517 | 2,747 | ||
Extraordinary losses | ||||
Loss on sale of non-current assets | 106 | 25 | ||
Loss on retirement of non-current assets | 130 | 61 | ||
Loss on valuation of investment securities | 139 | 25 | ||
Settlement payments | 203 | - | ||
Other | 59 | 12 | ||
Total extraordinary losses | 639 | 125 | ||
Profit before income taxes | 27,607 | 20,928 | ||
Income taxes | 9,043 | 5,920 | ||
Net income | 18,563 | 15,008 | ||
Net income attributable to non-controlling interests | 45 | 134 | ||
Net income attributable to owners of parent | 18,518 | 14,873 | ||
7
Quarterly consolidated statement of comprehensive income
First half of FY2023 (April 1, 2023 to September 30, 2023)
(Millions of yen) | |||||||
From April 1, 2022 | From April 1, 2023 | ||||||
to September 30, 2022 | to September 30, 2023 | ||||||
Net income | 18,563 | 15,008 | |||||
Other comprehensive income | |||||||
Valuation difference on available-for-sale securities | 1,090 | 31,280 | |||||
Deferred gains or losses on hedges | (4) | 9 | |||||
Foreign currency translation adjustment | 3,098 | 3,418 | |||||
Remeasurements of defined benefit plans, net of tax | (2,132) | (1,206) | |||||
Share of other comprehensive income of entities accounted for | 735 | 446 | |||||
using equity method | |||||||
Total other comprehensive income | 2,787 | 33,948 | |||||
Comprehensive income | 21,350 | 48,956 | |||||
Comprehensive income attributable to owners of parent | 20,889 | 48,572 | |||||
Comprehensive income attributable to non-controlling interests | 461 | 384 |
8
(3) Quarterly consolidated statement of cash flows
(Millions of yen) | ||||||||
From April 1, 2022 | From April 1, 2023 | |||||||
to September 30, 2022 | to September 30, 2023 | |||||||
Cash flow from operating activities | ||||||||
Profit before income taxes | 27,607 | 20,928 | ||||||
Depreciation | 5,502 | 5,989 | ||||||
Increase (decrease) in allowance for doubtful accounts | 297 | 66 | ||||||
Increase (decrease) in provision for loss on construction contracts | 1,939 | (410) | ||||||
Increase (decrease) in retirement benefit liability | (204) | 526 | ||||||
Decrease (increase) in retirement benefit asset | 357 | 244 | ||||||
Interest and dividend income | (3,118) | (3,513) | ||||||
Interest expenses | 455 | 465 | ||||||
Foreign exchange losses (gains) | (1,679) | (1,822) | ||||||
Loss (gain) on valuation of investment securities | 139 | 25 | ||||||
Loss (gain) on sales of investment securities | (251) | (2,212) | ||||||
Loss (gain) on sale of non-current assets | (20) | (352) | ||||||
Loss on retirement of non-current assets | 130 | 61 | ||||||
Decrease (increase) in trade receivables | (33,584) | 63,924 | ||||||
Decrease (increase) in costs on construction contracts in progress | (33,091) | (36,691) | ||||||
Decrease (increase) in real estate for sale and development projects | 1,986 | (16,166) | ||||||
in progress | ||||||||
Decrease (increase) in other inventories | (1,589) | (1,153) | ||||||
Decrease (increase) in accounts receivable - other | 21,511 | (6,212) | ||||||
Increase (decrease) in trade payables | (52,616) | (32,735) | ||||||
Increase (decrease) in advances received on construction contracts | 5,704 | 12,646 | ||||||
in progress | ||||||||
Increase (decrease) in deposits received | (24,976) | (15,899) | ||||||
Increase (decrease) in accounts payable - other | (1,103) | (12,303) | ||||||
Other | (8,101) | (9,635) | ||||||
Subtotal | (94,705) | (34,230) | ||||||
Interest and dividends received | 3,986 | 4,064 | ||||||
Interest paid | (463) | (462) | ||||||
Income taxes paid | (14,568) | (11,867) | ||||||
Net cash provided by (used in) operating activities | (105,750) | (42,496) | ||||||
9
(Millions of yen) | |||||
From April 1, 2022 | From April 1, 2023 | ||||
to September 30, 2022 | to September 30, 2023 | ||||
Cash flow from investing activities | |||||
Decrease (increase) in time deposits | 2,674 | (748) | |||
Purchase of property, plant and equipment and intangible assets | (6,623) | (11,516) | |||
Proceeds from sales of property, plant and equipment and | 209 | 1,031 | |||
intangible assets | |||||
Purchase of investment securities | (3,585) | (14,823) | |||
Proceeds from sale and redemption of investment securities | 1,197 | 6,586 | |||
Other | 71 | (102) | |||
Net cash provided by (used in) investing activities | (6,055) | (19,572) | |||
Cash flows from financing activities | |||||
Net increase (decrease) in short-term borrowings | (3,229) | 2,463 | |||
Proceeds from long-term borrowings | - | 1,000 | |||
Repayments of long-term borrowings | (7,173) | (6,058) | |||
Proceeds from long-termnon-recourse borrowings | - | 4,555 | |||
Repayment of long-termnon-recourse borrowings | (7) | (3) | |||
Proceeds from issuance of bonds | (20,000) | - | |||
Purchase of treasury shares | (21,706) | (8,843) | |||
Dividends paid | (13,032) | (12,250) | |||
Other | (177) | (247) | |||
Net cash provided by (used in) financing activities | (65,325) | (19,385) | |||
Effect of exchange rate change on cash and cash equivalents | 3,151 | 4,525 | |||
Net increase (decrease) in cash and cash equivalents | (173,981) | (76,928) | |||
Cash and cash equivalents at beginning of period | 496,760 | 415,863 | |||
Cash and cash equivalents at end of period | 322,778 | 338,935 | |||
10
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Taisei Corporation published this content on 13 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2023 14:54:16 UTC.