Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
May 13, 2022
Summary of Consolidated Financial and Business Results
for the Year Ended March 2022 (Japanese GAAP)
Company Name: | |
Code No./Stock Exchange: | 3877/Tokyo |
Representative: | Hisashi Uematsu, President & Chief Executive Officer |
Contact: | Yoshio Akinaga, General Manager, Administrative Division |
URL: | https://www.chuetsu-pulp.co.jp/ |
Telephone: | 0766-26-2404 (Overseas: +81-76-626-2424) |
Ordinary general meeting of shareholders to be held: | June 24, 2022 |
Statutory annual report to be presented: | June 27, 2022 |
Start of dividend payout: | June 27, 2022 |
Supplementary briefs for financial results to be presented: | Yes |
Financial results briefing to be held: | Yes |
(All yen figures are rounded down to the nearest one million yen) (Figures shown in percentage are ratios compared to the same period of the previous fiscal year)
1. Consolidated financial results for the Year Ended March 31, 2022 (from April 1, 2021 to March 31, 2022)
- Consolidated Business Results
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||
owners of parent | |||||||||||||||
Fiscal year | Millions of yen | % | Millions of yen | % Millions of yen | % | Millions of yen | % | ||||||||
ended | |||||||||||||||
March 31, 2022 | 90,104 | 10.0 | 2,352 | 3,077 | 1,268 | ||||||||||
March 31, 2021 | 81,938 | (13.9) | (347) | (319) | (1,052) | ||||||||||
Note: Comprehensive income: Fiscal year ended March 31, 2022: 1,456 million yen | ( | %) | ||||||||||
Fiscal year ended March 31, 2021: (674) million yen | ( | %) | ||||||||||
Profit per share | Diluted profit per share | Ratio of profit to | Ratio of ordinary | Ratio of operating | ||||||||
income to total assets | income to net sales | |||||||||||
Fiscal year | Yen | Yen | % | % | % | |||||||
ended | ||||||||||||
March 31, 2022 | 95.02 | 2.6 | 2.5 | 2.6 | ||||||||
March 31, 2021 | (78.85) | (2.2) | (0.3) | (0.4) | ||||||||
Note: Equity in earnings of affiliates | Fiscal year ended March 31, 2022: 306 million yen |
Fiscal year ended March 31, 2021: 51 million yen | |
Note: The Company | 2020), |
etc. effective from the beginning of the current consolidated fiscal year.
The figures for the fiscal year ending March 31, 2022 are the figures after the application of the accounting standards.
(2) Consolidated Financial Condition
Total assets | Net assets | Net assets per share | |||
As of | Millions of yen | Millions of yen | % | Yen | |
March 31, 2022 | 122,029 | 48,620 | 39.8 | 3,639.20 | |
March 31, 2021 | 123,490 | 47,455 | 38.4 | 3,550.96 | |
As of March 31, 2022: | 48,584 million yen | As of March 31, 2021: 47,408 million yen |
etc. effective from the beginning of the current consolidated fiscal year.
The figures for the fiscal year ending March 31, 2022 are the figures after the application of the accounting standards.
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(3) Consolidated Cash Flows
Cash and cash | ||||
Cash flows from | Cash flows from | Cash flows from | equivalents | |
operating activities | investing activities | financing activities | at the end of | |
period | ||||
Fiscal year | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
ended | 8,257 | (3,150) | (5,894) | 14,861 |
March 31, 2022 | ||||
March 31, 2021 | 5,965 | (3,898) | 6,284 | 15,575 |
2. Cash Dividends
Dividend per share | Total dividend | Dividend payout ratio | Dividend on net | |||||||||||||||||
(Annual) | (Consolidated) | assets | ||||||||||||||||||
End of 1Q | End of 2Q | End of 3Q End of FY | Annual | |||||||||||||||||
(Consolidated) | ||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |||||||||||||
Fiscal year ended | ||||||||||||||||||||
March 31, 2021 | 0.00 | 0.00 | 0.00 | |||||||||||||||||
Fiscal year ended | ||||||||||||||||||||
March 31, 2022 | 20.00 | 20.00 | 40.00 | 534 | 42.1 | 1.1 | ||||||||||||||
Fiscal year ending | ||||||||||||||||||||
March 31, 2023 | 20.00 | 20.00 | 40.00 | |||||||||||||||||
(Forecast) | 48.5 | |||||||||||||||||||
3. Consolidated Financial Forecasts for the Year Ending March 2023 (from April 1, 2022 to March 31, 2023)
For figures shown in percentage, the full year ratios are compared to the previous fiscal year, and the quarterly ratios are compared to the same period of the previous fiscal year
Net sales | Operating profit | Ordinary profit | Profit attributable to | Net profit per | |||||
owners of parent | share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
2Q (cumulative) | 48,000 | 11.1 | 400 | (63.9) | 500 | (64.6) | 200 | (75.1) | 14.98 |
Full year | 101,000 | 12.1 | 1,500 | (36.2) | 1,700 | (44.8) | 1,100 | (13.3) | 82.39 |
Notes
(1) Changes in important subsidiaries during the period
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | ||||
New (company name) | Excluded company name | ||||
(2) Changes in accounting policies, changes in accounting estimates, and restatements | |||||
1)Changes in Accounting Policies due to Revision of Accounting Standards, etc. | Yes | ||||
2)Changes in accounting policies other than (1) | No | ||||
3)Changes in accounting estimates | No | ||||
4)Correction re-representation | No | ||||
(3) Number of shares issued and outstanding (common stock) | |||||
1)Number of shares outstanding at end of period | As of | As of | |||
(including treasury stock) | March 31, | 13,354,688 shares | March | 13,354,688 shares | |
2022 | 31, 2021 | ||||
2)Number of own shares at end of period | As of | 4,314 shares | As of | 3,820 shares | |
March 31, | March | ||||
2022 | 31, 2021 | ||||
3)Average number of shares during the period | Fiscal | 13,350,699 shares | Fiscal | 13,351,001 shares | |
year | year | ||||
ended | ended | ||||
March 31, | March | ||||
2022 | 31, 2021 |
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Reference: Summary of Non-Consolidated Financial Results
1. Results for the Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022)
(1) Non-consolidated Business Results
(Figures shown in percentage are ratios compared to the previous fiscal year)
Net sales | Operating profit | Ordinary profit | Profit | |||||||||||||||||
Fiscal year | of yen | % Millions of yen | % | of yen | % Millions of yen | % | ||||||||||||||
ended | ||||||||||||||||||||
March 31, 2022 | 84,532 | 10.3 | 1,942 | 2,452 | 854 | |||||||||||||||
March 31, 2021 | 76,644 | (14.0) | (641) | (577) | (1,204) | |||||||||||||||
Profit per share | Diluted profit per share | |||||||||||||||||||
Fiscal year | Yen | Yen | ||||||||||||||||||
ended | 63.98 | |||||||||||||||||||
March 31, 2022 | ||||||||||||||||||||
March 31, 2021 | (90.22) | |||||||||||||||||||
effective from the beginning of the current consolidated fiscal year.
The figures for the fiscal year ending March 31, 2022 are the figures after the application of the accounting standards.
- Non-consolidatedfinancial position
Total assets | Net assets | Net assets per share | ||
As of | Millions of yen | Millions of yen | % | Yen |
March 31, 2022 | 112,435 | 41,609 | 37.0 | 3,116.72 |
March 31, 2021 | 114,297 | 40,918 | 35.8 | 3,064.83 |
As of March 31, 2022: 41,609 million yen As of March 31, 2021: 40,918 million yen
Note: The Company has applied the effective from the beginning of the current consolidated fiscal year.
The figures for the fiscal year ending March 31, 2022 are the figures after the application of the accounting standards.
2. Non-Consolidated Forecast for the Fiscal Year Ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
For figures shown in percentage, the full year ratios are compared to the previous fiscal year, and the quarterly ratios are compared to the same period of the previous fiscal year
Net sales | Operating profit | Ordinary profit | Profit | Profit per share | |||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
2Q (cumulative) | 46,000 | 13.5 | 200 | (79.6) | 200 | (81.6) | 0 | 0.00 | |||
Full year | 95,500 | 13.0 | 1,100 | (43.4) | 1,100 | (55.2) | 600 | (29.8) | 44.94 |
forecasts and other special notes
The above forecasts are based on information available as of the date of publication of this document and on certain assumptions that we consider reasonable and are therefore subject to a number of uncertainties. Actual results may differ from the above forecasts due to changes in various factor.
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Financial Results for FY2022, Chuetsu Pulp & Paper Co., Ltd. (3877)
3. Consolidated Financial Statements and Important Notes
(1) Consolidated Balance Sheet
(Unit: Millions of yen) | ||||||
As of March 31, 2021 | As of March 31, 2022 | |||||
Assets | ||||||
Current assets | ||||||
Cash and deposits | 15,575 | 14,861 | ||||
Notes and accounts receivable | trade | 21,286 | - | |||
Notes and accounts receivable and contract | - | 22,720 | ||||
assets | ||||||
Merchandise and finished goods | 8,586 | 8,124 | ||||
Work in process | 420 | 492 | ||||
Raw materials and supplies | 4,319 | 4,539 | ||||
Other | 2,855 | 2,564 | ||||
Allowance for doubtful accounts | (2) | (2) | ||||
Total current assets | 53,041 | 53,301 | ||||
Non-current assets | ||||||
Property, plant and equipment | ||||||
Buildings and structures | 51,753 | 52,044 | ||||
Accumulated depreciation | (34,683) | (35,505) | ||||
Buildings and structures, net | 17,070 | 16,539 | ||||
Machinery, equipment and vehicles | 239,809 | 240,663 | ||||
Accumulated depreciation | (212,490) | (214,656) | ||||
Machinery, equipment and vehicles, net | 27,318 | 26,007 | ||||
Land | 7,558 | 7,596 | ||||
Leased assets | 222 | 225 | ||||
Accumulated depreciation | (147) | (144) | ||||
Leased assets, net | 75 | 80 | ||||
Construction in progress | 1,900 | 1,984 | ||||
Other | 3,154 | 3,268 | ||||
Accumulated depreciation | (2,784) | (2,787) | ||||
Other, net | 370 | 480 | ||||
Total property, plant and equipment | 54,293 | 52,688 | ||||
Intangible assets | ||||||
Other | 246 | 386 | ||||
Total intangible assets | 246 | 386 | ||||
Investments and other assets | ||||||
Investment securities | 7,768 | 8,256 | ||||
Long-term loans receivable from | 5,040 | 4,410 | ||||
subsidiaries and affiliates | ||||||
Deferred tax assets | 2,680 | 2,554 | ||||
Other | 472 | 455 | ||||
Allowance for doubtful accounts | (52) | (44) | ||||
Total investments and other assets | 15,908 | 15,632 | ||||
Total non-current assets | 70,448 | 68,707 | ||||
Deferred assets | - | 20 | ||||
Total assets | 123,490 | 122,029 |
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Financial Results for FY2022, Chuetsu Pulp & Paper Co., Ltd. (3877)
(Unit: Millions of yen) | |||||
As of March 31, 2021 | As of March 31, 2022 | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable | trade | 11,802 | 12,979 | ||
Short-term borrowings | 30,568 | 27,328 | |||
Lease obligations | 29 | 23 | |||
Income taxes payable | 133 | 493 | |||
Allowance for bonuses | 466 | 512 | |||
Other | 4,425 | 5,232 | |||
Total current liabilities | 47,425 | 46,569 | |||
Non-current liabilities | |||||
Long-term borrowings | 22,796 | 20,442 | |||
Lease obligations | 52 | 60 | |||
Provisions for removal cost of property, plant | - | 320 | |||
and equipment | |||||
Provisions for environmental measures | 2 | 159 | |||
Provisions for loss on business of subsidiaries | 49 | 47 | |||
and affiliates | |||||
Provisions for business restructuring | - | 60 | |||
Retirement benefit liability | 5,598 | 5,631 | |||
Other | 109 | 118 | |||
Total non-current liabilities | 28,608 | 26,839 | |||
Total liabilities | 76,034 | 73,408 | |||
Net assets | |||||
Shareholders equity | |||||
Share capital | 18,864 | 18,864 | |||
Capital surplus | 16,253 | 16,253 | |||
Retained earnings | 11,929 | 12,905 | |||
Treasury shares | (7) | (7) | |||
Total shareholders equity | 47,039 | 48,015 | |||
Accumulated other comprehensive income | |||||
Valuation difference on available-for-sale | 745 | 799 | |||
securities | |||||
Foreign currency translation adjustment | (70) | 31 | |||
Remeasurements of defined benefit plans | (306) | (262) | |||
Total accumulated other comprehensive income | 368 | 568 | |||
Non-controlling interests | 47 | 35 | |||
Total net assets | 47,455 | 48,620 | |||
Total liabilities and net assets | 123,490 | 122,029 |
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Chuetsu Pulp & Paper Co. Ltd. published this content on 07 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2022 05:41:03 UTC.