Maruwa Co Ld Half-year Report
29 October 2024 - 8:02PM
RNS Regulatory News
RNS Number : 0325K
Maruwa Co Ld
29 October 2024
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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.
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Summary of Consolidated
Financial Results
for the Six Months Ended
September 30, 2024
(Based on Japanese
GAAP)
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October
29, 2024
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Company name:
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MARUWA CO., LTD.
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Stock exchange listing:
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Tokyo, Nagoya
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Stock code:
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5344
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URL
https://www.maruwa-g.com/
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Representative:
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President
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Toshiro Kanbe
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Inquiries:
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Corporate Officer
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Daisuke Yamaguchi
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TEL 0561-51-0841
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Scheduled date to file Semi-annual
Securities Report:
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November 13, 2024
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Scheduled date to commence dividend
payments:
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December 2, 2024
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Preparation of supplementary material
on financial results:
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Yes
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Holding of financial results
meeting:
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Yes
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(for analysts and institutional
investors)
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(Amounts
less than one million yen are rounded down)
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1. Consolidated financial results for
the six months ended September 30, 2024 (from April 1, 2024 to
September 30, 2024)
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(1) Consolidated operating results
(cumulative)
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Percentages indicate year-on-year changes
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Net
sales
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Operating
profit
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Ordinary
profit
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Profit
attributable to owners of parent
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Millions
of yen
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%
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Millions
of yen
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%
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Millions
of yen
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%
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Millions
of yen
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%
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Six months ended September 30,
2024
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34,822
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24.1
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12,789
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47.9
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11,999
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24.8
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8,440
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24.5
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Six months ended September 30,
2023
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28,063
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(5.4)
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8,649
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(18.5)
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9,616
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(21.3)
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6,777
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(21.2)
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Earnings
per share
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Diluted
earnings per share
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Yen
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Yen
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Six months ended September 30,
2024
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684.12
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-
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Six months ended September 30,
2023
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549.38
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-
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(2) Consolidated financial
position
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Total
assets
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Net
assets
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Equity
ratio
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Millions
of yen
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Millions
of yen
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%
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As of September 30, 2024
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131,278
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118,030
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89.9
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As of March 31, 2024
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122,515
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109,203
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89.1
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2. Cash dividends
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Annual
dividends per share
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1st
quarter-end
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2nd
quarter-end
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3rd
quarter-end
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Fiscal
year-end
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Total
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Yen
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Yen
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Yen
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Yen
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Yen
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Year ended March 31, 2024
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-
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43.00
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-
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43.00
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86.00
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Year ending March 31,
2025
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-
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47.00
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Year ending March 31, 2025
(Forecast)
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-
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47.00
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94.00
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3. Forecast of consolidated financial
results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
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Percentages indicate year-on-year changes
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Net
sales
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Operating
profit
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Ordinary
profit
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Profit
attributable to owners of parent
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Earnings
per share
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|
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Millions
of yen
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%
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Millions
of yen
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%
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Millions
of yen
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%
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Millions
of yen
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%
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Yen
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Full
year
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70,300
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14.2
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23,000
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16.2
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-
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-
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-
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-
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-
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4. Notes
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(1) Significant changes in the scope
of consolidation during the six months ended September 30,
2024:
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No
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(2) Application of special accounting
methods for preparing semi-annual consolidated financial
statements:
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No
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(3) Changes in accounting policies,
changes in accounting estimates, and restatement of prior period
financial statements
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Changes in accounting policies due to
revisions to accounting standards and other regulations:
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Yes
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Changes in accounting policies due to
other reasons:
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No
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Changes in accounting
estimates:
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No
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Restatement of prior period financial
statements:
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No
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(4) Number of issued shares (common
shares)
Total number of issued shares at the
end of the period (including treasury shares)
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As of September 30, 2024
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12,372,000
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shares
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As of March 31, 2024
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12,372,000
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shares
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Number of treasury shares at the end
of the period
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As of September 30, 2024
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32,058
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shares
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As of March 31, 2024
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34,125
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shares
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Average number of shares during the
period (cumulative from the beginning of the fiscal
year)
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Six months ended September 30,
2024
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12,339,942
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shares
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Six months ended September 30,
2023
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12,337,296
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shares
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Semi-annual consolidated financial
statements
Consolidated balance sheets
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(Millions of yen)
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As of March 31, 2024
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As of September 30,
2024
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Assets
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Current assets
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Cash and deposits
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55,250
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64,882
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Notes receivable - trade
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360
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155
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Accounts receivable - trade
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13,960
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14,318
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Electronically recorded monetary claims -
operating
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1,746
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1,384
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Merchandise and finished goods
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2,248
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2,103
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Work in process
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2,960
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3,427
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Raw materials and supplies
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4,575
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4,673
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Other
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2,516
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1,586
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Allowance for doubtful accounts
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(133)
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(103)
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Total current assets
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83,485
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92,428
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Non-current assets
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Property, plant and equipment
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Buildings and structures, net
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15,947
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14,787
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Machinery, equipment and vehicles, net
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12,040
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11,544
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Land
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5,005
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5,007
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Construction in progress
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2,952
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4,176
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Other, net
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786
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823
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Total property, plant and equipment
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36,733
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36,338
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Intangible assets
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Other
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318
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396
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Total intangible assets
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318
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396
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Investments and other assets
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1,977
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2,114
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Total non-current assets
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39,029
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38,849
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Total assets
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122,515
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131,278
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(Millions of yen)
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As of March 31, 2024
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As of September 30,
2024
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Liabilities
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Current liabilities
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Notes and accounts payable - trade
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2,957
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2,618
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Electronically recorded obligations - operating
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2,355
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892
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Current portion of long-term borrowings
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400
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400
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Income taxes payable
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2,851
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3,696
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Provision for bonuses
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1,042
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1,189
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Provision for bonuses for directors (and other
officers)
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124
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6
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Other
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3,091
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3,997
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Total current liabilities
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12,821
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12,800
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Non-current liabilities
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Deferred tax liabilities
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127
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85
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Other
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361
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361
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Total non-current liabilities
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489
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447
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Total liabilities
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13,311
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13,247
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Net assets
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Shareholders' equity
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Share capital
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8,646
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8,646
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Capital surplus
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12,031
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12,103
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Retained earnings
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87,573
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95,483
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Treasury shares
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(210)
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(197)
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Total shareholders' equity
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108,042
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116,036
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Accumulated other comprehensive income
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Valuation difference on available-for-sale
securities
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171
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115
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Foreign currency translation adjustment
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989
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1,878
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Total accumulated other comprehensive income
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1,161
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1,994
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Total net assets
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109,203
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118,030
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Total liabilities and net assets
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122,515
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131,278
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Consolidated statements of income (cumulative) and
consolidated statements of comprehensive income
(cumulative)
Consolidated statements of income
(cumulative)
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(Millions of yen)
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Six months ended
September 30, 2023
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Six months ended
September 30, 2024
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Net sales
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28,063
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34,822
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Cost of sales
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14,054
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16,101
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Gross profit
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14,008
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18,720
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Selling, general and administrative expenses
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5,359
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5,930
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Operating profit
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8,649
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12,789
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Non-operating income
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Interest income
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82
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99
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Rental income
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58
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66
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Foreign exchange gains
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800
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-
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Other
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67
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72
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Total non-operating income
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1,008
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237
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Non-operating expenses
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Foreign exchange losses
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-
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969
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Interest expenses
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0
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0
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Rent expenses on real estate for investments
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25
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31
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Other
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14
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27
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Total non-operating expenses
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41
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1,028
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Ordinary profit
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9,616
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11,999
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Extraordinary income
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Gain on sale of non-current assets
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-
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0
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Gain on sale of investment securities
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12
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-
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Subsidy income
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-
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2,576
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Total extraordinary income
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12
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2,576
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Extraordinary losses
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Loss on sale and retirement of non-current assets
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134
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86
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Loss on tax purpose reduction entry of non-current
assets
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-
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2,360
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Other
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7
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-
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Total extraordinary losses
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141
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2,447
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Profit before income taxes
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9,486
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12,128
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Income taxes - current
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2,646
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3,745
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Income taxes - deferred
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62
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(58)
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Total income taxes
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2,708
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3,687
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Profit
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6,777
|
8,440
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Profit attributable to owners of parent
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6,777
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8,440
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Consolidated statements of comprehensive income
(cumulative)
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|
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(Millions of yen)
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Six months ended
September 30, 2023
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Six months ended
September 30, 2024
|
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Profit
|
6,777
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8,440
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Other comprehensive income
|
|
|
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Valuation difference on available-for-sale
securities
|
30
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(56)
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Foreign currency translation adjustment
|
629
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888
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Total other comprehensive income
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660
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832
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Comprehensive income
|
7,438
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9,273
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Comprehensive income attributable to
|
|
|
|
Comprehensive income attributable to owners of
parent
|
7,438
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9,273
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Consolidated statements of cash flows
|
|
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(Millions of yen)
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|
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Six months ended
September 30, 2023
|
Six months ended
September 30, 2024
|
|
Cash flows from operating activities
|
|
|
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Profit before income taxes
|
9,486
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12,128
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Depreciation
|
1,763
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2,158
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Increase (decrease) in allowance for doubtful
accounts
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0
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(31)
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Loss (gain) on sale of investment securities
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(4)
|
-
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|
Loss (gain) on sale and retirement of non-current
assets
|
134
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86
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Interest and dividend income
|
(91)
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(103)
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Interest expenses
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0
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0
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Subsidy income
|
-
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(2,576)
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Loss on tax purpose reduction entry of non-current
assets
|
-
|
2,360
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Decrease (increase) in trade receivables
|
(2,395)
|
333
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|
Decrease (increase) in inventories
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(1,057)
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(334)
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Increase (decrease) in trade payables
|
293
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(1,150)
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Other, net
|
903
|
1,020
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Subtotal
|
9,032
|
13,892
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Interest and dividends received
|
91
|
103
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Interest paid
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(0)
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(0)
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Income taxes refund (paid)
|
(2,633)
|
(2,886)
|
|
Net cash provided by (used in) operating
activities
|
6,490
|
11,109
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Cash flows from investing activities
|
|
|
|
Purchase of property, plant and equipment
|
(6,832)
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(3,828)
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Proceeds from sale of property, plant and
equipment
|
-
|
0
|
|
Payments for retirement of property, plant and
equipment
|
(67)
|
(72)
|
|
Purchase of intangible assets
|
(35)
|
(93)
|
|
Purchase of investment securities
|
(84)
|
(133)
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|
Proceeds from sale of investment securities
|
166
|
-
|
|
Subsidies received
|
-
|
2,676
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|
Other, net
|
(10)
|
5
|
|
Net cash provided by (used in) investing
activities
|
(6,863)
|
(1,446)
|
|
Cash flows from financing activities
|
|
|
|
Repayments of long-term borrowings
|
(133)
|
-
|
|
Purchase of treasury shares
|
(3)
|
(0)
|
|
Proceeds from sale of treasury shares
|
17
|
-
|
|
Dividends paid
|
(493)
|
(530)
|
|
Net cash provided by (used in) financing
activities
|
(612)
|
(531)
|
|
Effect of exchange rate change on cash and cash
equivalents
|
333
|
511
|
|
Net increase (decrease) in cash and cash
equivalents
|
(652)
|
9,643
|
|
Cash and cash equivalents at beginning of period
|
49,585
|
55,013
|
|
Cash and cash equivalents at end of period
|
48,933
|
64,656
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