Kanagawa Chuo Kotsu : Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2022

[Japanese GAAP]

April 27, 2022

Company name: Kanagawa Chuo Kotsu Co., Ltd.

Stock exchange listing: Tokyo Stock Exchange

Code number: 9081

URL: https://www.kanachu.co.jp/

Representative: Yasunori Hori, Representative Director and President

Contact: Daisuke Murayama, IR Manager, Business Strategy Division

Phone: [phone]

Scheduled date of ordinary general meeting of shareholders: June 29, 2022

Scheduled date of commencing dividend payments: June 30, 2022

Scheduled date of filing annual securities report: June 29, 2022

Availability of supplementary explanatory materials on financial results: Available

Schedule of financial results briefing session: None

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022)

(1) Consolidated Operating Results		(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Fiscal year ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	March 31, 2022	97,777	7.5	1,008	-	2,586	-	1,838	-
	March 31, 2021	90,915	(19.3)	(5,940)	-	(5,354)	-	(8,516)	-

(Note) Comprehensive income: Fiscal year ended March 31, 2022: ¥(1,445) million [-%]
	Fiscal year ended March 31, 2021: ¥(4,463) million [-%]
	Basic earnings	Diluted earnings		Ratio of	Ratio of
	Return on equity	ordinary profit	operating profit
	per share	per share
		to total assets	to net sales
Fiscal year ended	Yen	Yen	%	%	%
March 31, 2022	149.79	-	3.7	1.7	1.0
March 31, 2021	(693.97)	-	(16.0)	(3.4)	(6.5)

(Reference) Share of profit (loss) of entities accounted for using equity method: Fiscal year ended March 31, 2022: ¥(1) million

Fiscal year ended March 31, 2021: ¥(15) million

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. since the beginning of the fiscal year under review, and the figures related to the fiscal year ended March 31, 2022 are based on figures after applying the Accounting Standard for Revenue Recognition, etc.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2022	146,906	53,160	33.2	3,971.82
As of March 31, 2021	159,058	55,156	31.9	4,140.66

(Reference) Equity: As of March 31, 2022: ¥48,741 million As of March 31, 2021: ¥50,813 million

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. since the beginning of the fiscal year under review, and the figures related to the fiscal year ended March 31, 2022 are based on figures after applying the Accounting Standard for Revenue Recognition, etc.

(3) Consolidated Cash Flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents
	operating activities	investing activities	financing activities
	at year-end
Fiscal year ended	Million yen	Million yen	Million yen	Million yen
March 31, 2022	11,753	(4,237)	(6,726)	3,404
March 31, 2021	40	(6,257)	6,640	2,614

2. Dividends

		Annual dividends			Total			Ratio of
							dividends	Payout ratio		dividends to
	1st	2nd	3rd	Year-
	quarter-	quarter-	quarter-	Total		paid	(consolidated)		net assets
	end
	end	end	end			(annual)		(consolidated)
	Yen	Yen	Yen	Yen	Yen		Million yen	%	%
Fiscal year ended	-	0.00	-	20.00	20.00	245	-	0.5
March 31, 2021
Fiscal year ended	-	20.00	-	20.00	40.00	490	26.7	1.0
March 31, 2022
Fiscal year ending
March 31, 2023	-	20.00	-	20.00	40.00			13.3
(Forecast)

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(% 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	48,500	0.9	2,610	556.7	2,620	126.3	1,850	169.9	150.75
Full year	100,600	2.9	4,780	373.8	4,750	83.6	3,690	100.7	300.69

* Notes:

(1) Changes in significant subsidiaries during the fiscal year under review

(Changes in specified subsidiaries resulting in changes in scope of consolidation): None

Newly included: - (

), Excluded: - (

)

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: None
   3. Changes in accounting estimates: None
   4. Retrospective restatement: None
3. Total number of issued and outstanding shares (common shares)
4. 1. Total number of issued and outstanding shares at the end of the year (including treasury shares):

March 31, 2022:	12,600,000 shares
March 31, 2021:	12,600,000 shares
2) Total number of treasury shares at the end of the year:
March 31, 2022:	328,243 shares
March 31, 2021:	328,038 shares
3) Average number of shares during the year:
Fiscal year ended March 31, 2022:	12,271,895 shares
Fiscal year ended March 31, 2021:	12,271,962 shares

(Reference) Summary of Non-consolidated Financial Results

Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022)

(1) Non-consolidated Operating Results			(% indicates changes from the previous corresponding period.)
		Net sales			Operating profit	Ordinary profit	Net income
	Fiscal year ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
	March 31, 2022	44,895	12.0	(57)	-	793	-	880	-
	March 31, 2021	40,085 (23.7)	(5,454)	-	(5,853)	-	(7,428)	-
		Basic earnings		Diluted earnings
		per share			per share
	Fiscal year ended	Yen			Yen
	March 31, 2022	71.72		-
	March 31, 2021	(605.29)		-

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. since the beginning of the fiscal year under review, and the figures related to the fiscal year ended March 31, 2022 are based on figures after applying the Accounting Standard for Revenue Recognition, etc.

(2) Non-consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2022	98,117	30,467	31.1	2,482.70
As of March 31, 2021	106,507	33,501	31.5	2,729.89

(Reference) Equity: As of March 31, 2022: ¥30,467 million As of March 31, 2021: ¥33,501 million

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. since the beginning of the fiscal year under review, and the figures related to the fiscal year ended March 31, 2022 are based on figures after applying the Accounting Standard for Revenue Recognition, etc.

• These consolidated financial results are outside the scope of audit by certified public accountants or an audit firm.
• Explanation of the proper use of financial results forecast and other notes
  (Notes for the forward-looking statements)
  The earnings forecasts and other forward-looking statements herein are based on information available to the Company at the time of preparation of this document and certain assumptions deemed reasonable, and actual results may differ significantly from these forecasts due to various factors.
  (Means to obtain the supplementary explanatory materials)
  The supplementary explanatory materials have been disclosed on the TDnet at a later date.

Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Million yen)

As of March 31, 2021

As of March 31, 2022

Assets

Current assets

Cash and deposits

Notes and accounts receivable - trade

Notes and accounts receivable - trade, and contract assets

2,814		3,604
8,589		-
-		7,910

Merchandise and finished goods	5,338	3,509
Work in process		27	62
Raw materials and supplies	435	464
Other		3,892	2,914
Allowance for doubtful accounts	(42)	(34)
Total current assets		21,057	18,431
Non-current assets
Property, plant and equipment
Buildings and structures	89,140	90,744
Machinery and equipment		5,959	6,220
Vehicles	40,510	39,921
Land		62,945	62,072
Leased assets	10,433	9,496
Construction in progress		1,443	1,048
Other	6,644	6,842
Accumulated depreciation		(105,336)	(107,799)
Total property, plant and equipment	111,743	108,547
Intangible assets		976	840
Investments and other assets
Investment securities		21,855	15,921
Deferred tax assets	1,333	1,212
Other		2,105	1,959
Allowance for doubtful accounts	(13)	(6)
Total investments and other assets		25,280	19,086
Total non-current assets	138,000	128,475
Total assets		159,058	146,906

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