Totoku Electric : Financial Summary for First Three Months of the Fiscal Year Ending March 31, 2023 (PDF)

Consolidated Financial Statements

（１）Consolidated Balance Sheets

		(Millions of yen)
	As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	10,597	10,590
Notes and accounts receivable - trade,	4,438	4,193
and contract assets
Merchandise and finished goods	1,034	1,092
Work in process	573	588
Raw materials and supplies	738	852
Accounts receivable - other	62	69
Other	96	111
Allowance for doubtful accounts	△7	△8
Total current assets	17,534	17,491
Non-current assets
Property, plant and equipment
Buildings and structures	9,039	9,049
Machinery, equipment and vehicles	11,780	12,047
Tools, furniture and fixtures	2,141	2,169
Land	1,141	1,142
Leased assets	91	92
Other	338	280
Accumulated depreciation	△16,539	△16,700
Total property, plant and equipment	7,994	8,082
Intangible assets	33	31
Investments and other assets
Investment securities	1,389	1,035
Deferred tax assets	512	487
Retirement benefit asset	34	32
Other	261	265
Allowance for doubtful accounts	△24	△24
Total investments and other assets	2,174	1,796
Total non-current assets	10,202	9,910
Total assets	27,737	27,402

		(Millions of yen)
	As of March 31, 2022	As of June 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	2,713	2,570
Short-term borrowings	1,155	1,223
Current portion of long-term borrowings	39	41
Accounts payable - other	605	449
Income taxes payable	367	178
Accrued expenses	750	633
Performance-linked compensation provision	43	9
Other	146	238
Total current liabilities	5,821	5,344
Non-current liabilities
Long-term borrowings	1,095	1,084
Deferred tax liabilities	191	155
Retirement benefit liability	2,129	2,070
Other	76	70
Total non-current liabilities	3,492	3,381
Total liabilities	9,313	8,725
Net assets
Shareholders' equity
Share capital	1,925	1,925
Capital surplus	1,018	1,018
Retained earnings	14,603	14,683
Treasury shares	△165	△161
Total shareholders' equity	17,381	17,466
Accumulated other comprehensive income
Valuation difference on available-for-	457	356
sale securities
Foreign currency translation adjustment	553	812
Remeasurements of defined benefit plans	△157	△151
Total accumulated other comprehensive	853	1,017
income
Non-controlling interests	188	192
Total net assets	18,423	18,676
Total liabilities and net assets	27,737	27,402

（２）Consolidated Statements of Income and Comprehensive Income

（Consolidated Statements of Income）

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2021	June 30, 2022
Net sales	5,070	4,820
Cost of sales	3,524	3,462
Gross profit	1,545	1,357
Selling, general and administrative expenses	611	673
Operating profit	933	684
Non-operating income
Interest income	1	3
Dividend income	7	8
Share of profit of entities accounted for	6	14
using equity method
Foreign exchange gains	18	31
Insurance claim income	－	8
Subsidy income	1	0
Insurance return	0	0
Valuables sale gain	1	1
Other	1	1
Total non-operating income	40	71
Non-operating expenses
Interest expenses	8	8
Transfer special adjustment fee	4	－
Other	1	1
Total non-operating expenses	13	9
Ordinary profit	960	746
Extraordinary income
Gain on sale of non-current assets	1	－
Gain on sale of investment securities	－	3
Total extraordinary income	1	3
Extraordinary losses
Loss on sale and retirement of non-current	0	13
assets
Loss on sale of shares of affiliated	－	36
companies
Total extraordinary losses	0	50
Profit before income taxes	961	699
Income taxes - current	123	104
Income taxes - deferred	94	34
Total income taxes	218	139
Profit	743	559
Profit attributable to non-controlling	8	4
interests
Profit attributable to owners of parent	735	555

（Consolidated Statements of Comprehensive	Income）
				(Millions of yen)
		Three months ended		Three months ended
		June 30, 2021		June 30, 2022
Profit			743	559
Other comprehensive income
Valuation difference on available-for-sale			26	△90
securities
Foreign currency translation adjustment			188	259
Remeasurements of defined benefit plans, net		14	6
of tax
Share of other comprehensive income of			0	△10
entities accounted for using equity method
Total other comprehensive income			230	163
Comprehensive income			973	723
Comprehensive income attributable to
Comprehensive income attributable to owners	965	719
of parent
Comprehensive income attributable to non-			8	4
controlling interests