RNS Number : 5159B
Maruwa Co Ld
31 January 2024

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, 2023

(Based on Japanese GAAP)





January 31, 2024

Company name:

MARUWA CO., LTD.


Stock exchange listing:

Tokyo, Nagoya

Stock code:

5344

URL https://www.maruwa-g.com/

Representative:

President and Representative Director

Toshiro Kanbe

Inquiries:

Director

Yukiko Morishita

TEL 0561-51-0841

Scheduled date to file Quarterly Securities Report:

February 9, 2024

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

No


Holding of quarterly financial results meeting:

Yes

(for analysts and institutional investors)


(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)

(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, 2023

45,026

1.0

14,393

(10.3)

14,967

(11.9)

10,603

(11.2)

Nine months ended December 31, 2022

44,577

11.2

16,039

20.0

16,982

22.9

11,934

25.5


Earnings per share

Diluted earnings per share


Yen

Yen

Nine months ended December 31, 2023

859.47

-

Nine months ended December 31, 2022

967.35

-

(2) Consolidated financial position


Total assets

Net assets

Equity ratio


Millions of yen

Millions of yen

%

As of December 31, 2023

115,832

104,131

89.9

As of March 31, 2023

108,031

94,215

87.2

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, 2023

-

38.00

-

40.00

78.00

Year ending March 31, 2024

-

43.00

-



Year ending March 31, 2024 (Forecast)




43.00

86.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)


Percentages indicate year-on-year changes


Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Earnings per share


Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

62,130

5.7

20,350

1.0

-

-

-

-

-



4. Notes

(1) Changes in significant subsidiaries during the nine months ended December 31, 2023

(changes in specified subsidiaries resulting in the change in scope of consolidation):

No

(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No

(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:

No

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, 2023

12,372,000

shares

As of March 31, 2023

12,372,000

shares

Number of treasury shares at the end of the period


As of December 31, 2023

34,083

shares

As of March 31, 2023

34,649

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)


Nine months ended December 31, 2023

12,337,511

shares

Nine months ended December 31, 2022

12,337,418

shares



Quarterly consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2023

As of December 31, 2023

Assets

Current assets

Cash and deposits

49,795

49,851

Notes receivable - trade

343

268

Accounts receivable - trade

10,701

13,663

Electronically recorded monetary claims - operating

1,820

1,936

Merchandise and finished goods

2,267

2,509

Work in process

2,905

3,086

Raw materials and supplies

3,767

4,488

Other

3,043

2,117

Allowance for doubtful accounts

(9)

(10)

Total current assets

74,634

77,913

Non-current assets

Property, plant and equipment

Buildings and structures, net

14,075

15,832

Machinery, equipment and vehicles, net

7,446

12,066

Land

4,872

4,991

Construction in progress

3,920

2,159

Other, net

731

845

Total property, plant and equipment

31,046

35,895

Intangible assets

Other

284

324

Total intangible assets

284

324

Investments and other assets

2,066

1,698

Total non-current assets

33,397

37,918

Total assets

108,031

115,832



(Millions of yen)

As of March 31, 2023

As of December 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

2,975

3,267

Electronically recorded obligations - operating

1,542

2,303

Current portion of long-term borrowings

333

200

Income taxes payable

2,684

1,126

Provision for bonuses

914

535

Provision for bonuses for directors (and other officers)

124

62

Other

4,334

3,311

Total current liabilities

12,910

10,807

Non-current liabilities

Long-term borrowings

400

400

Deferred tax liabilities

141

130

Other

364

361

Total non-current liabilities

905

892

Total liabilities

13,816

11,700

Net assets

Shareholders' equity

Share capital

8,646

8,646

Capital surplus

12,018

12,031

Retained earnings

73,381

82,961

Treasury shares

(209)

(208)

Total shareholders' equity

93,838

103,431

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

125

167

Foreign currency translation adjustment

251

533

Total accumulated other comprehensive income

377

700

Total net assets

94,215

104,131

Total liabilities and net assets

108,031

115,832



Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

(Millions of yen)

Nine months ended

December 31, 2022

Nine months ended

December 31, 2023

Net sales

44,577

45,026

Cost of sales

20,972

22,412

Gross profit

23,604

22,613

Selling, general and administrative expenses

7,565

8,220

Operating profit

16,039

14,393

Non-operating income

Interest income

62

133

Rental income

72

88

Foreign exchange gains

819

311

Other

38

93

Total non-operating income

993

627

Non-operating expenses

Interest expenses

4

1

Rent expenses on real estate for investments

33

35

Other

12

15

Total non-operating expenses

50

52

Ordinary profit

16,982

14,967

Extraordinary income

Gain on sale of non-current assets

0

-

Gain on sale of investment securities

-

39

Gain on liquidation of subsidiaries

3

-

Subsidy income

15

-

Total extraordinary income

19

39

Extraordinary losses

Loss on sale and retirement of non-current assets

32

150

Other

-

8

Total extraordinary losses

32

159

Profit before income taxes

16,969

14,848

Income taxes - current

4,621

3,952

Income taxes - deferred

412

291

Total income taxes

5,034

4,244

Profit

11,934

10,603

Profit attributable to owners of parent

11,934

10,603



Consolidated statements of comprehensive income (cumulative)

(Millions of yen)

Nine months ended

December 31, 2022

Nine months ended

December 31, 2023

Profit

11,934

10,603

Other comprehensive income

Valuation difference on available-for-sale securities

(12)

42

Foreign currency translation adjustment

339

281

Total other comprehensive income

327

323

Comprehensive income

12,261

10,927

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

12,261

10,927

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