Consolidated Financial Results
for the Three Months Ended September 30, 2021
[Japanese GAAP]
November 12, 2021
Company name: ICHIMASA KAMABOKO Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 2904
URL: https://www.ichimasa.co.jp/global/en/
Representative: Masahiro Nozaki, President & CEO
Contact: Masaki Takashima, Director and Managing Executive Officer, General Manager of Corporate Planning Department
Phone: +81-25-270-7111
Scheduled date of filing quarterly securities report: November 12, 2021
Scheduled date of commencing dividend payments: -
Availability of supplementary explanatory materials on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Not scheduled
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended September 30, 2021 (July 1, 2021 - September
30, 2021) | |||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Three months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |
September 30, 2021 | 7,139 | - | (25) | - | (3) | - | 76 | (42.0) | |
September 30, 2020 | 7,843 | (0.5) | 166 | - | 177 | - | 131 | - |
(Note) Comprehensive income: Three months ended September 30, 2021: ¥86 million [(66.8) %] Three months ended September 30, 2020: ¥260 million [- %]
Basic earnings | Diluted | |
earnings | ||
per share | ||
per share | ||
Three months ended | Yen | Yen |
September 30, 2021 | 4.14 | - |
September 30, 2020 | 7.14 | - |
(Note) "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and related guidelines have been adopted effective the beginning of the first quarter of the current fiscal year. Key financial data for the three months ended September 30, 2021 above is figures after the adoption of these accounting standards, etc. and the change in net sales from the previous corresponding period is not presented.
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | |
Million yen | Million yen | % | |
As of September 30, 2021 | 22,761 | 13,486 | 59.3 |
As of June 30, 2021 | 22,216 | 13,585 | 61.2 |
(Reference) Equity: As of September 30, 2021: ¥13,486 million As of June 30, 2021: ¥13,585 million
(Note) "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and related guidelines have been adopted effective the beginning of the first quarter of the current fiscal year. Key financial data for the three months ended September 30, 2021 above is figures after the adoption of these accounting standards, etc.
2. Dividends
Annual dividends | |||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended | - | 0.00 | - | 10.00 | 10.00 | ||
June 30, 2021 | |||||||
Fiscal year ending | - | ||||||
June 30, 2022 | |||||||
Fiscal year ending | |||||||
June 30, 2022 | 0.00 | - | 12.00 | 12.00 | |||
(Forecast) |
(Note) Revision to the forecast for dividends announced most recently: None
3. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2022 (July 1, 2021 - June 30, 2022)
(% indicates changes from the previous corresponding period.)
Profit attributable | Basic earnings | |||||||||
Net sales | Operating profit | Ordinary profit | to owners of | |||||||
per share | ||||||||||
parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
First half | 18,500 | - | 1,200 | (22.8) | 1,200 | (24.3) | 800 | (34.7) | 43.40 | |
Full year | 34,000 | - | 1,400 | (19.4) | 1,400 | (22.5) | 950 | (64.6) | 51.54 | |
(Notes) | 1. Revision to the financial results forecast announced most recently: None |
2. As "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and related guidelines have been adopted, the consolidated financial results forecasts above are figures after the adoption of these accounting standards, etc. and the changes in net sales from the previous full year and corresponding period of the previous year are not presented.
* Notes:
- Changes in significant subsidiaries during the period under review: None (Changes in specified subsidiaries resulting in changes in scope of consolidation):
Newly included: - ( | ), Excluded: - ( | ) |
- Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: Yes
- Changes in accounting policies other than 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Total number of issued and outstanding shares (common shares)
- Total number of issued and outstanding shares at the end of the period (including treasury shares):
As of September 30, 2021: | 18,590,000 shares |
As of June 30, 2021: | 18,590,000 shares |
2) Total number of treasury shares at the end of the period: | |
As of September 30, 2021: | 158,688 shares |
As of June 30, 2021: | 158,688 shares |
3) Average number of shares during the period (cumulative quarterly accounting period):
Three months ended September 30, 2021: | 18,431,312 shares |
Three months ended September 30, 2020: | 18,428,732 shares |
Note: The Company has introduced the Board Benefit Trust (BBT) and the number of treasury shares at the end of each period includes shares of the Company held by the BBT (93,600 shares as of September 30, 2021 and 93,600 shares as of June 30, 2021). The number of treasury shares deducted in the calculation of the average number of shares during each period includes shares of the Company held by the BBT (93,600 shares for the three months ended September 30, 2021 and 96,200 shares for the three months ended September 30, 2020).
- These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit firm.
- Explanation of the proper use of financial results forecast and other notes
The financial results forecasts and other forward-looking statements contained herein are based on the information available to the Company and certain assumptions deemed reasonable as of the date of this report and do not constitute a promise by the Company to achieve these forecasts. Actual results may be significantly different from these forecasts due to various factors. For the assumptions on which the financial results forecasts are based and the cautions and other related matters to consider when using thereof, please refer to "1. Qualitative Information on Quarterly Financial Results
- Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 4 of the attachment.
Table of Contents - Attachments | ||
1. Qualitative Information on Quarterly Financial Results ......................................................................... | 2 | |
(1) | Explanation of Operating Results ....................................................................................................... | 2 |
(2) | Explanation of Financial Position ....................................................................................................... | 3 |
(3) | Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ..... | 4 |
2. Quarterly Consolidated Financial Statements and Principal Notes ......................................................... | 5 | |
(1) | Quarterly Consolidated Balance Sheets .............................................................................................. | 5 |
(2) | Quarterly Consolidated Statements of Income and Comprehensive Income ...................................... | 7 |
Quarterly Consolidated Statements of Income | ||
Three Months Ended September 30 ............................................................................................ | 7 | |
Quarterly Consolidated Statements of Comprehensive Income | ||
Three Months Ended September 30 ............................................................................................ | 8 | |
(3) | Notes to Quarterly Consolidated Financial Statements ....................................................................... | 9 |
(Notes on going concern assumption) ............................................................................................ | 9 | |
(Notes in case of significant changes in shareholders' equity) ....................................................... | 9 | |
(Accounting methods adopted particularly for the preparation of quarterly consolidated financial | ||
statements) ...................................................................................................................................... | 9 | |
(Changes in accounting policies) ..................................................................................................... | 9 | |
(Additional information) .................................................................................................................. | 9 | |
(Segment information, etc.) .......................................................................................................... | 10 |
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1. Qualitative Information on Quarterly Financial Results
(1) Explanation of Operating Results
The Company has adopted the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020; hereinafter "Revenue Recognition Standard") and related guidelines effective the beginning of the first quarter of the current fiscal year.
Key financial data for the three months ended September 30, 2021 in the explanation of operating results is figures after the adoption of these accounting standards, etc. For this reason, the changes in amounts and percentage changes of net sales from the corresponding period of the previous fiscal year are not presented.
For details of the adoption of the Revenue Recognition Standard, etc., please refer to "2. Quarterly Consolidated Financial Statements and Principal Notes (3) Notes to Quarterly Consolidated Financial Statements (Changes in accounting policies)."
In the three months ended September 30, 2021, the Japanese economy was expected to make a recovery, but with the Tokyo Olympic and Paralympic Games being held without spectators, the sharp rise in positive COVID- 19 cases with the emergence of new variants, and the prolonged continuation of the state of emergency declarations and localized priority measures to prevent the spread of COVID-19, the economic recovery was delayed and personal spending remained at a low level, leaving the future unpredictable.
In addition, costs are increasing, such as soaring prices of surimi and other raw materials and energy prices, and rising labor costs resulting from labor shortages, and the business environment surrounding the Group has become increasingly severe.
Under these circumstances, the Group entered the first year of its 2nd Medium-term Management Plan, which extends from July 2021 to June 2026, with the ICHIMASA30 Vision (the Company's vision for FY2045) as its aim. It is addressing business issues with the basic policy of "establishing the foundations for business growth and earnings capability through daring challenges toward markets in Japan and overseas and the certain achievement of a first-stage 'growth trajectory.'"
Further, the maintenance of the global environment is essential for the sustainable growth and development of corporate activity. With the aim of achieving the Sustainable Development Goals (SDGs), the Group is striving to resolve sustainability issues with the cooperation of stakeholders. On July 1, 2021, it established the ICHIMASA KAMABOKO ESG Management Declaration to promote ESG-oriented management that will both contribute to the realization of a sustainable society and enhance corporate value.
As a result, for the three months ended September 30, 2021, the Company posted net sales of ¥7,139 million, operating loss of ¥25 million (operating profit of ¥166 million for the same period of the previous fiscal year), ordinary loss of ¥3 million (ordinary profit of ¥177 million for the same period of the previous fiscal year), and profit attributable to owners of parent of ¥76 million (profit attributable to owners of parent of ¥131 million for the same period of the previous fiscal year).
The performance of each segment is as follows.
(Fish-paste Products and Side Dishes Business)
The Company's mainstay product, kanikama (crab-flavored kamaboko), has penetrated the market as an easily accessible source of fish meat protein, as health consciousness continues to rise. Within this category, the time- limited product, "Salad Stick Edamame-Flavor," proved popular, capturing demand for summer snacks to accompany drinks. "Large Kanikama," a satisfying way to eat quality fish meat protein, also performed well.
Regarding oden products, due to the effects of rainy weather, autumn rain fronts, and typhoons in August and September, temperatures were cooler than usual, and demand for pre-cooked oden and deep-fried products increased.
In terms of profit, due to the expansion of stay-at-home consumption during the COVID-19 pandemic, growing health consciousness around the world, and economic growth in emerging nations, demand for processed seafood products increased and surimi prices have remained at high levels. Rising edible oil and egg
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Ichimasa Kamaboko Co. Ltd. published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 06:16:13 UTC.