| 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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