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 Year Ended March 31, 2021
(Based on Japanese GAAP)
May 14, 2021 | |||||||||||||||||||||
Company name: | TOYO KANETSU K.K. | ||||||||||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||||||||||
Stock code: | 6369 | URL https://www.toyokanetsu.co.jp | |||||||||||||||||||
Representative: | President and Representative Director | Toru Yanagawa | |||||||||||||||||||
Inquiries: | Managing Officer | Takeshi Yonehara | TEL 03-5857-3333 | ||||||||||||||||||
Scheduled date of ordinary general meeting of shareholders: | June 29, 2021 | ||||||||||||||||||||
Scheduled date to file Securities Report: | June 29, 2021 | ||||||||||||||||||||
Scheduled date to commence dividend payments: | June 30, 2021 | ||||||||||||||||||||
Preparation of supplementary material on financial results: | Yes | ||||||||||||||||||||
Holding of financial results meeting: | Yes | (for institutional investors and analysts) | |||||||||||||||||||
(Amounts less than one million yen are rounded down) | |||||||||||||||||||||
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021) | |||||||||||||||||||||
(1) Consolidated operating results | 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 | % | ||||||||||||||
Year ended March 31, 2021 | 43,617 | (6.2) | 2,623 | 1.2 | 3,053 | 2.8 | 1,777 | 3.5 | |||||||||||||
Year ended March 31, 2020 | 46,518 | 2.9 | 2,591 | 84.3 | 2,970 | 67.7 | 1,717 | 67.5 | |||||||||||||
Earnings per share | Diluted earnings per | Profit attributable to | Ordinary profit/total | Operating profit/net | |||||||||||||||||
share | owners of | assets | sales | ||||||||||||||||||
parent/equity | |||||||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||||||
Year ended March 31, 2021 | 212.41 | - | 5.0 | 5.1 | 6.0 | ||||||||||||||||
Year ended March 31, 2020 | 195.87 | - | 4.9 | 4.7 | 5.6 | ||||||||||||||||
(2) Consolidated financial position | |||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||||||||
As of March 31, 2021 | 58,764 | 36,484 | 62.1 | 4,461.06 | |||||||||||||||||
As of March 31, 2020 | 60,985 | 34,602 | 56.7 | 4,095.51 | |||||||||||||||||
(3) Consolidated cash flows | |||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | ||||||||||||||||||
operating activities | investing activities | financing activities | at end of period | ||||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | ||||||||||||||||||
Year ended March 31, 2021 | 1,482 | (338) | (5,176) | 7,309 | |||||||||||||||||
Year ended March 31, 2020 | 6,955 | (812) | (2,351) | 11,402 | |||||||||||||||||
2. Cash dividends | |||||||||||||||||||||
Annual dividends per share | Total cash | Dividend payout | Ratio of dividends | ||||||||||||||||||
to net assets | |||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | dividends (Total) | ratio (Consolidated) | (Consolidated) | ||||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | ||||||||||||||
Year ended March 31, 2020 | - | 0.00 | - | 100.00 | 100.00 | 853 | 51.1 | 2.5 | |||||||||||||
Year ended March 31, 2021 | - | 0.00 | - | 115.00 | 115.00 | 949 | 54.1 | 2.7 | |||||||||||||
Year ending March 31, 2022 | - | 0.00 | - | 105.00 | 105.00 | 50.2 | |||||||||||||||
(Forecast) | |||||||||||||||||||||
1
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | ||||||
owners of parent | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Full year | 54,700 | 25.4 | 2,370 | (9.7) | 2,670 | (12.5) | 1,750 | (1.6) | 209.12 | |
4. Notes | ||||||||||
(1) Changes in significant subsidiaries during the year ended March 31, 2021 | No | |||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | ||||||||||
(2) 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: | No | |||||||||
Changes in accounting policies due to other reasons: | No | |||||||||
Changes in accounting estimates: | No | |||||||||
Restatement of prior period financial statements: | No |
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021 | 9,323,074 | shares | As of March 31, 2020 | 9,323,074 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2021 | 1,144,747 | shares | As of March 31, 2020 | 874,440 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2021 | 8,368,557 | shares | Year ended March 31, 2020 | 8,770,801 | shares |
2
Consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2020 | As of March 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 11,507 | 7,413 | |
Notes and accounts receivable - trade | 15,413 | 13,489 | |
Investments in leases | 937 | 550 | |
Merchandise and finished goods | 27 | 57 | |
Work in process | 5,179 | 6,732 | |
Raw materials and supplies | 1,977 | 2,523 | |
Other | 435 | 863 | |
Allowance for doubtful accounts | (16) | (13) | |
Total current assets | 35,461 | 31,616 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 4,218 | 4,142 | |
Machinery, equipment and vehicles, net | 1,016 | 716 | |
Tools, furniture and fixtures, net | 364 | 284 | |
Land | 10,568 | 10,122 | |
Construction in progress | 253 | 356 | |
Other, net | 20 | 18 | |
Total property, plant and equipment | 16,442 | 15,641 | |
Intangible assets | 381 | 481 | |
Investments and other assets | |||
Investment securities | 8,013 | 9,909 | |
Deferred tax assets | 45 | 42 | |
Retirement benefit asset | 38 | 452 | |
Other | 889 | 847 | |
Allowance for doubtful accounts | (286) | (227) | |
Total investments and other assets | 8,699 | 11,024 | |
Total non-current assets | 25,523 | 27,147 | |
Total assets | 60,985 | 58,764 |
3
(Millions of yen) | |||
As of March 31, 2020 | As of March 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 919 | 1,091 | |
Short-term borrowings | 7,849 | 3,620 | |
Current portion of long-term borrowings | 619 | 8 | |
Accrued expenses | 4,763 | 3,778 | |
Income taxes payable | 553 | 914 | |
Advances received | 2,790 | 2,354 | |
Provision for bonuses | 267 | 259 | |
Provision for loss on order received | 241 | 30 | |
Provision for warranties for completed construction | 389 | 348 | |
Other | 455 | 681 | |
Total current liabilities | 18,848 | 13,086 | |
Non-current liabilities | |||
Bonds payable | - | 1,000 | |
Long-term borrowings | 4,488 | 4,580 | |
Deferred tax liabilities | 1,520 | 2,138 | |
Deferred tax liabilities for land revaluation | 1,095 | 1,095 | |
Retirement benefit liability | 152 | 107 | |
Asset retirement obligations | 235 | 230 | |
Other | 40 | 41 | |
Total non-current liabilities | 7,534 | 9,193 | |
Total liabilities | 26,382 | 22,280 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 18,580 | 18,580 | |
Capital surplus | 1,273 | 1,273 | |
Retained earnings | 15,224 | 16,148 | |
Treasury shares | (2,355) | (2,933) | |
Total shareholders' equity | 32,722 | 33,068 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 2,666 | 3,937 | |
Deferred gains or losses on hedges | 0 | 9 | |
Revaluation reserve for land | 106 | 106 | |
Foreign currency translation adjustment | (729) | (833) | |
Remeasurements of defined benefit plans | (165) | 195 | |
Total accumulated other comprehensive income | 1,878 | 3,415 | |
Non-controlling interests | 1 | 0 | |
Total net assets | 34,602 | 36,484 | |
Total liabilities and net assets | 60,985 | 58,764 |
4
Consolidated statements of income and consolidated statements of comprehensive income
(Millions of yen) | |||
Fiscal year ended | Fiscal year ended | ||
March 31, 2020 | March 31, 2021 | ||
Net sales | 46,518 | 43,617 | |
Cost of sales | 37,355 | 34,369 | |
Gross profit | 9,162 | 9,247 | |
Selling, general and administrative expenses | 6,570 | 6,623 | |
Operating profit | 2,591 | 2,623 | |
Non-operating income | |||
Interest income | 9 | 14 | |
Dividend income | 277 | 259 | |
Foreign exchange gains | 5 | - | |
Subsidy income | 34 | 104 | |
Reversal of allowance for doubtful accounts | 0 | 84 | |
Other | 125 | 113 | |
Total non-operating income | 452 | 576 | |
Non-operating expenses | |||
Interest expenses | 59 | 59 | |
Bond issuance costs | - | 23 | |
Commission for purchase of treasury shares | 1 | 17 | |
Foreign exchange losses | - | 37 | |
Other | 13 | 11 | |
Total non-operating expenses | 74 | 147 | |
Ordinary profit | 2,970 | 3,053 | |
Extraordinary income | |||
Gain on sale of non-current assets | 0 | 9 | |
Gain on sale of investment securities | 578 | 913 | |
Other | - | 65 | |
Total extraordinary income | 579 | 989 | |
Extraordinary losses | |||
Loss on valuation of investment securities | 673 | 73 | |
Impairment losses | - | 1,047 | |
Loss on disaster | 39 | 13 | |
Other | 48 | 15 | |
Total extraordinary losses | 761 | 1,149 | |
Profit before income taxes | 2,788 | 2,892 | |
Income taxes - current | 759 | 1,199 | |
Income taxes - deferred | 311 | (83) | |
Total income taxes | 1,070 | 1,115 |
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Toyo Kanetsu KK published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 07:36:02 UTC.