RNS Number : 0435M
Maruwa Co Ld
25 April 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 Year Ended March 31, 2024

(Based on Japanese GAAP)





April 25, 2024

Company name:

MARUWA CO., LTD.


Stock exchange listing:

Tokyo, Nagoya

Stock code:

5344

URL  https://www.maruwa-g.com/

Representative:

President

Toshiro Kanbe

Inquiries:

Corporate Officer

Daisuke Yamaguchi

TEL  0561-51-0841

Scheduled date of ordinary general meeting of shareholders:

June 20, 2024

Scheduled date to file Securities Report:

June 21, 2024

Scheduled date to commence dividend payments:

June 21, 2024

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, 2024 (from April 1, 2023 to March 31, 2024)

(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, 2024

61,564

4.7

19,801

(1.7)

21,121

(0.3)

15,216

1.3

Year ended March 31, 2023

58,804

8.2

20,142

10.6

21,187

10.5

15,020

12.5

 


Earnings per share

Diluted earnings per share

Profit attributable to owners of parent/equity

Ordinary profit/total assets

Operating profit/net sales


Yen

Yen

%

%

%

Year ended March 31, 2024

1,233.30

-

15.0

18.3

32.2

Year ended March 31, 2023

1,217.45

-

17.3

20.8

34.3

 

(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, 2024

122,515

109,203

89.1

8,851.10

As of March 31, 2023

108,031

94,215

87.2

7,636.60

 

(3) Consolidated cash flows


Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Cash and cash equivalents at end of period


Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended March 31, 2024

17,222

(10,814)

(1,363)

55,013

Year ended March 31, 2023

15,647

(8,755)

(1,882)

49,585

 

2. Cash dividends

 

 

Annual dividends per share

Total cash dividends (Total)

Dividend payout ratio (Consolidated)

Ratio of dividends to net assets (Consolidated)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total


Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Year ended March 31, 2023

-

38.00

-

40.00

78.00

962

6.4

1.1

Year ended March 31, 2024

-

43.00

-

43.00

86.00

1,061

7.0

1.0

Year ending March 31, 2025

(Forecast)

-

47.00

-

47.00

94.00


-


 



3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)


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

Six months ending

September 30, 2024

30,800

9.8

10,000

15.6

-

-

-

-

-

Full year

70,300

14.2

23,000

16.2

-

-

-

-

-

 

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2024

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

No

 

(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, 2024

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 March 31, 2024

34,125

 shares

As of March 31, 2023

34,649

 shares

Average number of shares during the period


Year ended March 31, 2024

12,337,609

 shares

Year ended March 31, 2023

12,337,413

 shares

 



 

Consolidated financial statements

Consolidated balance sheets

 

 

(Millions of yen)

 

As of March 31, 2023

As of March 31, 2024

Assets

 

 

Current assets

 

 

Cash and deposits

49,795

55,250

Notes receivable - trade

343

360

Accounts receivable - trade

10,701

13,960

Electronically recorded monetary claims - operating

1,820

1,746

Merchandise and finished goods

2,267

2,248

Work in process

2,905

2,960

Raw materials and supplies

3,767

4,575

Other

3,043

2,516

Allowance for doubtful accounts

(9)

(133)

Total current assets

74,634

83,485

Non-current assets

 

 

Property, plant and equipment

 

 

Buildings and structures, net

14,075

15,947

Machinery, equipment and vehicles, net

7,446

12,040

Land

4,872

5,005

Construction in progress

3,920

2,952

Other, net

731

786

Total property, plant and equipment

31,046

36,733

Intangible assets

 

 

Other

284

318

Total intangible assets

284

318

Investments and other assets

 

 

Investment securities

534

433

Deferred tax assets

484

487

Investment property, net

933

935

Other

114

121

Allowance for doubtful accounts

(0)

(0)

Total investments and other assets

2,066

1,977

Total non-current assets

33,397

39,029

Total assets

108,031

122,515



 

 

 

 

(Millions of yen)

 

As of March 31, 2023

As of March 31, 2024

Liabilities

 

 

Current liabilities

 

 

Notes and accounts payable - trade

2,975

2,957

Electronically recorded obligations - operating

1,542

2,355

Current portion of long-term borrowings

333

400

Income taxes payable

2,684

2,851

Provision for bonuses

914

1,042

Provision for bonuses for directors (and other officers)

124

124

Other

4,334

3,091

Total current liabilities

12,910

12,821

Non-current liabilities

 

 

Long-term borrowings

400

-

Deferred tax liabilities

141

127

Other

364

361

Total non-current liabilities

905

489

Total liabilities

13,816

13,311

Net assets

 

 

Shareholders' equity

 

 

Share capital

8,646

8,646

Capital surplus

12,018

12,031

Retained earnings

73,381

87,573

Treasury shares

(209)

(210)

Total shareholders' equity

93,838

108,042

Accumulated other comprehensive income

 

 

Valuation difference on available-for-sale securities

125

171

Foreign currency translation adjustment

251

989

Total accumulated other comprehensive income

377

1,161

Total net assets

94,215

109,203

Total liabilities and net assets

108,031

122,515

 

 



 

Consolidated statements of income and consolidated statements of comprehensive income

Consolidated statements of income

 

 

(Millions of yen)

 

Fiscal year ended

March 31, 2023

Fiscal year ended

March 31, 2024

Net sales

58,804

61,564

Cost of sales

28,396

30,570

Gross profit

30,408

30,994

Selling, general and administrative expenses

10,266

11,192

Operating profit

20,142

19,801

Non-operating income

 

 

Interest income

107

225

Rental income

98

119

Foreign exchange gains

861

958

Other

45

90

Total non-operating income

1,112

1,394

Non-operating expenses

 

 

Interest expenses

5

1

Rent expenses on real estate for investments

48

55

Other

12

16

Total non-operating expenses

66

73

Ordinary profit

21,187

21,121

Extraordinary income

 

 

Gain on sale of non-current assets

0

0

Gain on sale of investment securities

-

39

Gain on liquidation of subsidiaries

3

-

Subsidy income

515

209

Other

-

14

Total extraordinary income

519

264

Extraordinary losses

 

 

Loss on sale and retirement of non-current assets

61

158

Loss on tax purpose reduction entry of non-current assets

481

202

Other

-

8

Total extraordinary losses

542

369

Profit before income taxes

21,164

21,016

Income taxes - current

5,977

5,767

Income taxes - deferred

166

33

Total income taxes

6,143

5,800

Profit

15,020

15,216

Profit attributable to owners of parent

15,020

15,216

 



 

Consolidated statements of comprehensive income

 

 

(Millions of yen)

 

Fiscal year ended

March 31, 2023

Fiscal year ended

March 31, 2024

Profit

15,020

15,216

Other comprehensive income

 

 

Valuation difference on available-for-sale securities

20

46

Foreign currency translation adjustment

407

737

Total other comprehensive income

428

784

Comprehensive income

15,448

16,000

Comprehensive income attributable to

 

 

Comprehensive income attributable to owners of parent

15,448

16,000

 

 



 

Consolidated statements of changes in equity

Fiscal year ended March 31, 2023





(Millions of yen)


Shareholders' equity


Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders' equity

Balance at beginning of period

8,646

12,017

59,274

(207)

79,732

Changes during period






Dividends of surplus



(912)


(912)

Profit attributable to owners of parent



15,020


15,020

Purchase of treasury shares




(2)

(2)

Disposal of treasury shares


0


0

1

Net changes in items other than shareholders' equity






Total changes during period

-

0

14,107

(1)

14,106

Balance at end of period

8,646

12,018

73,381

(209)

93,838

 


Accumulated other comprehensive income

Total net assets


Valuation difference on available-for-sale securities

Foreign currency translation adjustment

Total accumulated other comprehensive income

Balance at beginning of period

104

(155)

(51)

79,681

Changes during period





Dividends of surplus




(912)

Profit attributable to owners of parent




15,020

Purchase of treasury shares




(2)

Disposal of treasury shares




1

Net changes in items other than shareholders' equity

20

407

428

428

Total changes during period

20

407

428

14,534

Balance at end of period

125

251

377

94,215



 

Fiscal year ended March 31, 2024





(Millions of yen)


Shareholders' equity


Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders' equity

Balance at beginning of period

8,646

12,018

73,381

(209)

93,838

Changes during period






Dividends of surplus



(1,024)


(1,024)

Profit attributable to owners of parent



15,216


15,216

Purchase of treasury shares




(5)

(5)

Disposal of treasury shares


13


4

17

Net changes in items other than shareholders' equity






Total changes during period

-

13

14,192

(1)

14,203

Balance at end of period

8,646

12,031

87,573

(210)

108,042

 


Accumulated other comprehensive income

Total net assets


Valuation difference on available-for-sale securities

Foreign currency translation adjustment

Total accumulated other comprehensive income

Balance at beginning of period

125

251

377

94,215

Changes during period





Dividends of surplus




(1,024)

Profit attributable to owners of parent




15,216

Purchase of treasury shares




(5)

Disposal of treasury shares




17

Net changes in items other than shareholders' equity

46

737

784

784

Total changes during period

46

737

784

14,988

Balance at end of period

171

989

1,161

109,203

 



 

Consolidated statements of cash flows

 

 

(Millions of yen)

 

Fiscal year ended

March 31, 2023

Fiscal year ended

March 31, 2024

Cash flows from operating activities

 

 

Profit before income taxes

21,164

21,016

Depreciation

3,087

4,138

Increase (decrease) in allowance for doubtful accounts

(0)

123

Loss (gain) on sale of investment securities

-

(31)

Loss (gain) on sale and retirement of non-current assets

61

158

Loss on tax purpose reduction entry of non-current assets

481

202

Interest and dividend income

(112)

(239)

Interest expenses

5

1

Subsidy income

(515)

(209)

Decrease (increase) in trade receivables

2,388

(3,106)

Decrease (increase) in inventories

(917)

(784)

Increase (decrease) in trade payables

(1,324)

441

Other, net

(1,007)

840

Subtotal

23,310

22,551

Interest and dividends received

112

213

Interest paid

(5)

(1)

Income taxes refund (paid)

(7,769)

(5,555)

Proceeds from compensation

-

14

Net cash provided by (used in) operating activities

15,647

17,222

Cash flows from investing activities

 

 

Net decrease (increase) in time deposits

31

(9)

Purchase of property, plant and equipment

(8,697)

(11,167)

Proceeds from sale of property, plant and equipment

0

8

Payments for retirement of property, plant and equipment

-

(83)

Purchase of intangible assets

(27)

(74)

Purchase of investment securities

(286)

(123)

Proceeds from sale of investment securities

-

320

Subsidies received

211

309

Other, net

12

5

Net cash provided by (used in) investing activities

(8,755)

(10,814)

Cash flows from financing activities

 

 

Repayments of short-term borrowings

(100)

-

Repayments of long-term borrowings

(866)

(333)

Purchase of treasury shares

(2)

(5)

Dividends paid

(912)

(1,024)

Net cash provided by (used in) financing activities

(1,882)

(1,363)

Effect of exchange rate change on cash and cash equivalents

188

382

Net increase (decrease) in cash and cash equivalents

5,199

5,427

Cash and cash equivalents at beginning of period

44,385

49,585

Cash and cash equivalents at end of period

49,585

55,013

 

 

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