TIDMMAW
RNS Number : 4664Q
Maruwa Co Ld
27 October 2021
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 Six Months Ended September 30, 2021
(Based on Japanese GAAP)
October 27, 2021
Company name: MARUWA CO., LTD.
Stock exchange Tokyo, Nagoya
listing:
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: President and Representative Sei Kanbe
Director
Inquiries: Planning Office Manager Yukiko Morishita TEL 0561-51-0841
Scheduled date to file Quarterly Securities November 12, 2021
Report:
Scheduled date to commence dividend December 3, 2021
payments:
Preparation of supplementary material Yes
on quarterly financial results:
Holding of quarterly financial results Yes
meeting:
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the six months ended
September 30, 2021 (from April 1, 2021 to September 30, 2021)
(1) Consolidated operating results Percentages indicate year-on-year changes
(cumulative)
Net sales Operating profit Ordinary profit Profit attributable
to owners of
parent
Millions % Millions % Millions % Millions %
of yen of yen of yen of yen
Six months ended September
30, 2021 24,722 26.6 7,926 69.2 8,118 74.8 5,567 76.5
Six months ended September
30, 2020 19,533 (4.0) 4,685 12.9 4,644 11.2 3,154 10.0
-------- ----- ----------- ----- ---------- ----- ------------- ------
Earnings per share Diluted earnings
per share
Yen Yen
Six months ended September
30, 2021 451.30 -
Six months ended September
30, 2020 255.80 -
------------------ ----------------
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of Millions of %
yen yen
As of September 30, 2021 84,629 71,537 84.5
As of March 31, 2021 78,059 66,344 85.0
------------ ----------- ------------
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,
2021 - 28.00 - 36.00 64.00
Year ending March 31,
2022 - 34.00
--------------- --------------- --------------- --------------- -----
Year ending March 31,
2022 (Forecast) - 36.00 70.00
--------------- --------------- --------------- --------------- -----
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 Earnings
to owners of per share
parent
Millions % Millions % Millions % Millions % Yen
of yen of yen of yen of yen
Full year 50,200 21.1 15,900 55.1 15,900 53.9 10,500 51.4 851.06
-------- ---- ----------- ----- ---------- ----- ------------- ------ ----------
4. Notes
(1) Changes in significant subsidiaries during the six No
months ended September 30, 2021
(changes in specified subsidiaries resulting in the
change in scope of consolidation):
(2) Application of special accounting methods for preparing No
quarterly consolidated financial statements:
(3) Changes in accounting policies, changes in accounting
estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to Yes
accounting standards and other regulations:
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 September 30,
2021 12,372,000 shares As of March 31, 2021 12,372,000 shares
--------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of September 30,
2021 34,270 shares As of March 31, 2021 36,327 shares
--------------------- ------ --------------------- ------
Average number of shares during the period (cumulative from the
beginning of the fiscal year)
Six months ended September Six months ended September
30, 2021 12,337,130 shares 30, 2020 12,332,859 shares
---------------------------- ---------- --------------------------- ----------
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen)
------------------------------------------------------ --------------- -----------------
As of March 31, As of September
2021 30, 2021
------------------------------------------------------ --------------- -----------------
Assets
Current assets
Cash and deposits 34,088 37,699
Notes and accounts receivable - trade 9,834 11,955
Electronically recorded monetary
claims - operating 1,267 1,252
Merchandise and finished goods 1,641 1,699
Work in process 2,277 2,512
Raw materials and supplies 2,463 3,181
Other 2,148 1,303
Allowance for doubtful accounts (8) (8)
Total current assets 53,714 59,596
--------------- -----------------
Non-current assets
Property, plant and equipment
Buildings and structures 17,012 17,478
Accumulated depreciation (6,967) (7,265)
Buildings and structures, net 10,044 10,212
--------------- -----------------
Machinery, equipment and vehicles 22,354 23,718
Accumulated depreciation (17,149) (18,134)
Machinery, equipment and vehicles,
net 5,204 5,583
--------------- -----------------
Land 4,544 4,546
Construction in progress 1,889 1,741
Other 3,887 4,067
Accumulated depreciation (3,238) (3,394)
Other, net 648 673
--------------- -----------------
Total property, plant and equipment 22,332 22,757
--------------- -----------------
Intangible assets
Other 260 275
Total intangible assets 260 275
--------------- -----------------
Investments and other assets 1,752 2,000
Total non-current assets 24,345 25,033
--------------- -----------------
Total assets 78,059 84,629
--------------- -----------------
(Millions of yen)
------------------------------------------------------ --------------- -----------------
As of March 31, As of September
2021 30, 2021
------------------------------------------------------ --------------- -----------------
Liabilities
Current liabilities
Notes and accounts payable - trade 2,404 3,282
Electronically recorded obligations
- operating 1,931 1,747
Short-term borrowings 100 100
Current portion of long-term borrowings 266 266
Income taxes payable 1,986 2,557
Provision for bonuses 699 782
Provision for bonuses for directors
(and other officers) 49 5
Other 2,172 2,388
Total current liabilities 9,612 11,130
--------------- -----------------
Non-current liabilities
Long-term borrowings 1,599 1,466
Deferred tax liabilities 160 158
Other 342 336
Total non-current liabilities 2,103 1,961
--------------- -----------------
Total liabilities 11,715 13,091
--------------- -----------------
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,005 12,017
Retained earnings 46,796 51,911
Treasury shares (217) (205)
Total shareholders' equity 67,231 72,370
--------------- -----------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 119 139
Foreign currency translation adjustment (1,006) (972)
Total accumulated other comprehensive
income (886) (832)
--------------- -----------------
Total net assets 66,344 71,537
--------------- -----------------
Total liabilities and net assets 78,059 84,629
--------------- -----------------
Consolidated statements of income (cumulative) and consolidated
statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2020 September 30, 2021
------------------------------------------------- ------------------- -------------------
Net sales 19,533 24,722
Cost of sales 10,942 12,331
Gross profit 8,590 12,391
------------------- -------------------
Selling, general and administrative
expenses 3,905 4,464
Operating profit 4,685 7,926
------------------- -------------------
Non-operating income
Interest income 26 31
Rental income 44 49
Foreign exchange gains - 112
Other 33 37
Total non-operating income 105 231
------------------- -------------------
Non-operating expenses
Interest expenses 1 4
Foreign exchange losses 101 -
Rent expenses on real estate for
investments 22 22
Other 21 12
Total non-operating expenses 147 39
------------------- -------------------
Ordinary profit 4,644 8,118
------------------- -------------------
Extraordinary income
Gain on sale of non-current assets 1 0
Gain on liquidation of subsidiaries 11 -
Subsidy income - 89
Total extraordinary income 13 90
------------------- -------------------
Extraordinary losses
Loss on sale and retirement of non-current
assets 20 3
Loss on tax purpose reduction entry
of non-current assets - 75
Loss related to infectious disease 67 41
Total extraordinary losses 88 119
------------------- -------------------
Profit before income taxes 4,568 8,088
------------------- -------------------
Income taxes - current 1,269 2,576
Income taxes - deferred 144 (55)
Total income taxes 1,414 2,520
------------------- -------------------
Profit 3,154 5,567
------------------- -------------------
Profit attributable to owners of
parent 3,154 5,567
------------------- -------------------
Consolidated statements of comprehensive income (cumulative)
(Millions of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2020 September 30, 2021
------------------------------------------------- ------------------- -------------------
Profit 3,154 5,567
Other comprehensive income
Valuation difference on available-for-sale
securities 60 20
Foreign currency translation adjustment 100 33
Total other comprehensive income 160 54
------------------- -------------------
Comprehensive income 3,315 5,621
------------------- -------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 3,315 5,621
Consolidated statements of cash flows
(Millions of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2020 September 30, 2021
------------------------------------------------- ------------------- -------------------
Cash flows from operating activities
Profit before income taxes 4,568 8,088
Depreciation 1,003 1,235
Amortization of goodwill 26 -
Increase (decrease) in allowance
for doubtful accounts 4 (4)
Loss (gain) on liquidation of subsidiaries (11) -
Loss (gain) on sale and retirement
of non-current assets 19 3
Loss on tax purpose reduction entry
of non-current assets - 75
Interest and dividend income (29) (33)
Interest expenses 1 4
Subsidy income - (89)
Foreign exchange losses (gains) 0 (1)
Decrease (increase) in trade receivables 1,093 (2,101)
Decrease (increase) in inventories 444 (1,007)
Increase (decrease) in trade payables 204 356
Other, net (497) 849
Subtotal 6,828 7,374
------------------- -------------------
Interest and dividends received 29 33
Interest paid (1) (4)
Income taxes refund (paid) (536) (1,904)
Net cash provided by (used in) operating
activities 6,319 5,498
------------------- -------------------
Cash flows from investing activities
Net decrease (increase) in time deposits - 2
Purchase of property, plant and equipment (3,401) (1,221)
Proceeds from sale of property, plant
and equipment 3 0
Purchase of investment securities (1) (151)
Proceeds from liquidation of subsidiaries 34 -
Purchase of intangible assets (8) (36)
Subsidies received - 89
Other, net (18) (23)
Net cash provided by (used in) investing
activities (3,391) (1,340)
------------------- -------------------
Cash flows from financing activities
Proceeds from long-term borrowings 800 -
Repayments of long-term borrowings - (133)
Purchase of treasury shares (1) (0)
Dividends paid (320) (444)
Net cash provided by (used in) financing
activities 478 (577)
------------------- -------------------
Effect of exchange rate change on
cash and cash equivalents 48 25
Net increase (decrease) in cash and
cash equivalents 3,454 3,605
------------------- -------------------
Cash and cash equivalents at beginning
of period 29,114 33,888
Cash and cash equivalents at end
of period 32,568 37,493
------------------- -------------------
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END
IR PPGQUUUPGGWM
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