Financial Results for the Fiscal Year Ended March 31, 2024
NIKKON Holdings Co., Ltd.
Security: 9072
May 23, 2024 | 1 |
0. Table of Contents
[Financial Results Explanation]
1. | Executive Summary | P. 4 |
2. | Financial Results for the Fiscal Year Ended March 31, 2024 | P. 5- |
3. Initiatives under Medium-Term Management Plan | P. 13- | |
4. | Forecast for the Fiscal Year Ending March 31, 2025 | P. 14- |
5. | Shareholder Returns | P. 15- |
[ESG Initiatives] | ||
1. | Thirteenth Medium-Term Management Plan (ESG) | P. 18 |
2. | ESG Initiatives | P. 19- |
2
Financial Results Explanation
3
1. Executive Summary
Results for the Fiscal Year Ended March 31, 2024
Forecast for the Fiscal Year Ending March 31, 2025
83rd term results | Achievement rate | |||
Category | ||||
FY2024/3 | of the plan | |||
Category
84th term forecast | ||||
FY2025/3 | ||||
1H | 2H | |||
Net sales
YoY
Operating profit
Profit ratio
YoY
Ordinary profit
Profit ratio
YoY
Profit
222,324 | 96.7% |
+4.8% | |
21,235 | 96.5% |
9.6% | |
+8.5% | |
23,875 | 101.6% |
10.7% | |
+8.0% | |
16,608 | 103.8% |
Net sales
YoY
Operating profit
Profit ratio
YoY
Ordinary profit
Profit ratio
YoY
Profit
120,000 | 130,000 | 250,000 |
+10.8% | +14.0% | +12.4% |
10,900 | 13,100 | 24,000 |
9.1% | 10.1% | 9.6% |
+5.6% | +20.0% | +13.0% |
11,600 | 13,700 | 25,300 |
9.7% | 10.5% | 10.1% |
-1.4% | +13.2% | +6.0% |
7,800 | 9,200 | 17,000 |
Profit ratio | 7.5% |
YoY | +4.3% |
- The economy showed a moderate recovery.
- The shortage of auto-parts faded.
- Fuel and personnel expenses soared.
- Some auto manufacturers suspended production.
Profit ratio | 6.5% | 7.1% | 6.8% |
YoY | -2.3% | +6.6% | +2.4% |
- Pay increases will make a virtuous circle of the economy.
- M&A transactions will produce an integration effect.
- An upper limit will be imposed on overtime work and drivers will be in short supply.
-
Energy prices will stay high and economy trends will be
uncertain.4
2. Financial Results for the Fiscal Year Ended March 31, 2024 (1)
1. Profit and Loss
82nd term results | ||
Category | ||
FY2023/3 | ||
83rd term results | Achievement | |||||
FY2024/3 | rate of the plan | |||||
Proportion (%) | YoY | |||||
Net sales
Operating costs
General and administrative expenses
Operating profit
Non-operating income
Non-operating expenses
Ordinary profit
Extraordinary income
Extraordinary losses
Income before income taxes
Income taxes
Profit
212,071
181,502
10,988
19,580
2,853
325
22,108
957
289
22,776
6,864
15,913
222,324 | 100.0% | +4.8% | 96.7% |
189,549 | 85.3% | +4.4% | - |
11,539 | 5.2% | +5.0% | - |
21,235 | 9.6% | +8.5% | 96.5% |
2,998 | 1.3% | +5.1% | - |
358 | 0.2% | +10.2% | - |
23,875 | 10.7% | +8.0% | 101.6% |
192 | 0.1% | -80% | - |
432 | 0.2% | +49.5% | - |
23,634 | 10.6% | +3.8% - | |
7,025 | 3.2% | +2.3% | - |
16,608 | 7.5% | +4.4% | 103.8% |
5
2. Financial Results for the Fiscal Year Ended March 31, 2024 (2)
2. Balance Sheet
82nd term | 83rd term | |||||
Assets | results | results | Changes | |||
FY2023/3 | FY2024/3 | |||||
Current assets | 83,026 | 87,981 | +4,955 | |||||||
Cash and deposits | 40,221 | 43,847 | +3,626 | |||||||
Accounts receivable, | 37,617 | 39,169 | +1,552 | |||||||
inventories and others | ||||||||||
Other | 5,188 | 4,965 | -223 | |||||||
Property, plant and equipment | 242,671 | 254,064 | +11,393 | |||||||
Lands | 116,849 | 120,058 | +3,209 | |||||||
Buildings and structures | 110,320 | 115,109 | +4,789 | |||||||
Machinery and equipment | 4,029 | 3,861 | -168 | |||||||
Construction in progress | 6,037 | 8,222 | +2,185 | |||||||
Vehicles | 3,515 | 4,852 | +1,337 | |||||||
Other | 1,921 | 1,962 | +41 | |||||||
Intangible assets | 2,368 | 2,498 | +130 | |||||||
Leasehold interests in land | 1,265 | 1,312 | +47 | |||||||
Software and others | 1,103 | 1,186 | +83 | |||||||
Investments, etc. | 32,681 | 43,901 | +11,220 | |||||||
Investment securities | 19,512 | 29,715 | +10,203 | |||||||
Shares and investments in capital | 7,289 | 7,838 | +549 | |||||||
of subsidiaries and associates | ||||||||||
Deferred tax assets | 3,603 | 3,669 | +66 | |||||||
Other | 2,277 | 2,679 | +402 | |||||||
360,748 | 388,446 | +27,698 | ||||||||
Total assets | ||||||||||
82nd term | 83rd term | ||||||||||||||||
Liabilities | results | results | Changes | ||||||||||||||
FY2023/3 | FY2024/3 | ||||||||||||||||
58,358 | 59,366 | +1,008 | |||||||||||||||
Current liabilities | |||||||||||||||||
Notes and accounts payable - trade | 17,922 | 17,948 | +26 | ||||||||||||||
and electronically recorded | |||||||||||||||||
obligations - operating | |||||||||||||||||
Short-term borrowings | 13,151 | 12,025 | -1,126 | ||||||||||||||
and bonds | |||||||||||||||||
Income taxes payable | 4,467 | 4,002 | -465 | ||||||||||||||
Deposits received | 1,783 | 3,376 | +1,593 | ||||||||||||||
Accounts payable - other | 8,645 | 8,899 | +254 | ||||||||||||||
Provision for bonuses | 4,143 | 4,775 | +632 | ||||||||||||||
Electronically recorded | 4,299 | 4,405 | +106 | ||||||||||||||
obligations - non-operating | |||||||||||||||||
Other | 3,948 | 3,936 | -12 | ||||||||||||||
72,990 | 82,634 | +9,644 | |||||||||||||||
Non-current liabilities | |||||||||||||||||
Bonds payable and long-term | 60,059 | 67,034 | +6,975 | ||||||||||||||
borrowings | |||||||||||||||||
Deferred tax liabilities | 5,481 | 8,571 | +3,090 | ||||||||||||||
Retirement benefit obligations | 5,399 | 4,940 | -459 | ||||||||||||||
Other | 2,051 | 2,089 | +38 | ||||||||||||||
Net assets | 229,399 | 246,445 | +17,046 | ||||||||||||||
Shareholders' equity | 214,926 | 221,322 | +6,396 | ||||||||||||||
Total accumulated other | 13,947 | 17,477 | +3,530 | ||||||||||||||
comprehensive income | |||||||||||||||||
Share acquisition rights | 210 | 161 | -49 | ||||||||||||||
Non-controlling interests | 314 | 344 | +30 | ||||||||||||||
6 | |||||||||||||||||
360,748 | 388,446 | +27,698 | |||||||||||||||
Total liabilities and net assets | |||||||||||||||||
2. Financial Results for the Fiscal Year Ended March 31, 2024 (3)
3. By Business Segment
2023/3 | 2024/3 | |||||||||||||||
(Millions of yen) | ||||||||||||||||
Net sales | Operating | Profit ratio | Net sales | Change | Operating | Change | ||||||||||
profit | (%) | profit | (%) | |||||||||||||
Other | ||||||||||
Outside: Net sales | ||||||||||
Inside: Operating profit | ||||||||||
Testing | ||||||||||
Other | ||||||||||
Profit ratio | ||||||||||
Transportation | 96,744 | 5,062 | 5.2% | 100,398 | +3.8% | 5,585 | +10.3% |
Warehousing | 37,729 | 8,422 | 22.2% | 38,863 | +3.0% | 8,328 | -1.1% |
Packaging | 49,591 | 3,008 | 6.0% | 53,809 | +8.5% | 3,320 | +10.4% |
5.5% | |||||
Testing | |||||
21.3% | |||||
6.1% | Packaging | ||||
Packaging | |||||
Transportation Transportation
Testing
Other
20,942 | 2,223 | 10.6% | 22,881 | +9.3% | 3,329 | +49.8% | 14.5% |
7,063 | 1,103 | 9.2% | 6,370 | -9.8% | 943 | -14.5% | 9.5% |
Warehousing
Total
212,071 | 19,818 | 9.2% | 222,324 +4.8% | 21,235 | +7.2% | 9.6% |
Warehousing
* Profit rates reflect adjustment to figures after elimination of intra-group transactions.
Transportation: Net sales rose with a turnaround in cargo volumes from automobile and auto-parts sectors. Operating profit surged after the increase in sales, cost reduction and revision of fares to appropriate levels.
Warehousing: Net sales increased after the disappearance of idle spaces in existing facilities and the inauguration of new facilities while operating profit decreased due to a rise in the depreciation of new facilities.
Packaging: Net sales and operating profit both expanded in line with growth in internal work and packaging operations following a turnaround in the volume of cargo mainly from the automobile industry.
Testing: | Net sales and operating profit both increased, reflecting the climbing business volume in line with the recovery from | |
the COVID-19 pandemic and a reduction in cost after the easing of the burdens of personnel investment in the | ||
previous year. | ||
Other: | Net sales and operating profit dropped, attributable to a slide in international trading and a decline in unit price after | |
easing of the demand-supply balance in air and marine transport. | 7 |
2. Financial Results for the Fiscal Year Ended March 31, 2024 (4)
4. By Industry Segment
2023/3 | |||||||
(Millions of yen) | |||||||
Net sales | Proportion (%) | ||||||
Automobile | 78,787 | 37.2% | |||||||
Auto-Parts | 32,590 | 15.4% | |||||||
Housing | 27,710 | 13.1% | |||||||
Tires | 12,245 | 5.8% | |||||||
Agricultural Machinery | 7,397 | 3.5% | |||||||
Industrial Machinery | 5,809 | 2.7% | |||||||
Food and beverages | 4,629 | 2.2% | |||||||
Newspapers and publications 4,670 | 2.2% | ||||||||
Other | 38,231 | 18.0% | |||||||
212,071 | 100.0% | ||||||||
Total | |||||||||
5. By Regional Segment | |||||||||
2023/3 | |||||||||
(Millions of yen) | |||||||||
Net sales | Operating | Profit ratio | Net sales | ||||||
profit | |||||||||
2024/3
Net sales | Change (%) | Proportion (%) | ||
89,649 | +13.8% | 40.3% | ||
34,047 | +4.5% | 15.3% | ||
27,441 | -1.0% | 12.3% | ||
10,278 | -16.1% | 4.6% | ||
7,315 | -1.1% | 3.3% | ||
5,110 | -12.0% | 2.3% | ||
4,858 | +4.9% | 2.2% | ||
4,723 | +1.1% | 2.1% | ||
38,898 | +1.7% | 17.5% | ||
222,324 | +4.8% | 100.0% |
2024/3
Change | Operating | Change | Profit ratio | ||||||
(%) | profit | (%) | |||||||
Newspapers and
publications
Other | ||||||||||||||
Food and | 4.7 | |||||||||||||
beverages | 38.9 | |||||||||||||
4.9 | ||||||||||||||
Automobile | ||||||||||||||
89.6 | ||||||||||||||
Industrial | ||||||||||||||
Machinery | ||||||||||||||
5.1 | ||||||||||||||
Agricultural | ||||||||||||||
Machinery | ||||||||||||||
Housing | ||||||||||||||
7.3 | Tires | |||||||||||||
27.4 | ||||||||||||||
10.3 | Auto-Parts | |||||||||||||
34.0 | ||||||||||||||
Asia | ||||||||
17.7 | ||||||||
North America | ||||||||
15.5 | ||||||||
Asia | ||||||||
North | ||||||||
1.54 | ||||||||
America | ||||||||
0.87 |
Japan | 180,469 | 16,983 | 9.4% |
North America | 12,767 | 1,084 | 8.4% |
Asia | 18,834 | 1,566 | 8.1% |
189,075 | +4.8% | 18,878 | +11.2% | 10.0% |
15,507 | +21.5% | 872 | -19.6% | 5.5% |
17,741 | -5.8% | 1,542 | -1.5% | 8.5% |
Japan | ||||||
Japan | ||||||
189.1 | ||||||
18.88 | ||||||
Total | 212,071 | 19,580 | 9.2% | 222,324 | +4.8% | 21,235 | +8.5% | 9.6% |
* Profit rates reflect adjustment to figures after elimination of intra-group transactions.
Outside: Net sales | |
Inside: Operating profit | 8 |
Unit: billion yen |
2. Financial Results for the Fiscal Year Ended March 31, 2024 (5)
6. Capital Investment (excluding M&A)
Capital investment (billion yen)
30.0 | ||||||||||||||
28.3 | 28.3 | |||||||||||||
25.9 | ||||||||||||||
25.0 | ||||||||||||||
23.0 | 23.0 | |||||||||||||
22.5 | ||||||||||||||
22.2 | ||||||||||||||
20.0
16.5
15.2
15.0
10.0
5.0
0.0
Company name | Location | Date of | Buildings | Total floor | Applications | ||||||||||
completion | area | ||||||||||||||
1 | NK Parts Industries Inc | Ohio, U.S.A. | Jul. 2023 | Warehouse | 19,835 m2 | Work and storage of | |||||||||
auto-parts | |||||||||||||||
2 | NIPPON KONPO UNYU SOKO CO., LTD. Koga, Ibaraki Pref. | Oct. 2023 | Warehouse | 23,066 m2 | Storage of auto-parts, | ||||||||||
etc. | |||||||||||||||
3 | NIPPON KONPO UNYU SOKO CO., LTD. | Miyoshi-machi, | Oct. 2023 | Warehouse | 35,557 m2 | Storage of EC-related | |||||||||
Saitama Pref. | goods | ||||||||||||||
4 | NIKKON KITAKYU Co., Ltd. | Kitakyushu, Fukuoka | Feb. 2024 | Buildings | Head office and garage | ||||||||||
Pref. | |||||||||||||||
Under construction | |||||||||||||||
Company name | Location | Scheduled | Buildings | Total floor | Applications | ||||||||||
completion | area | ||||||||||||||
1 | PT.Nippon Konpo Indonesia | West Java, Indonesia | Jul. 2024 | Warehouse | 15,000 m2 | Establishment of new | |||||||||
bases in industrial parks | |||||||||||||||
2 | NIPPON KONPO UNYU SOKO CO., LTD. Sendai, Miyagi Pref. | Aug. 2024 | Warehouse | 1,040 m2 | Construction of a base | ||||||||||
in the new port district | |||||||||||||||
3 | NIKKON Holdings Co., Ltd. | Utsunomiya, Tochigi | Jan. 2025 | Warehouse | 43,585 m2 | Storage of food-related | |||||||||
Pref. | goods | ||||||||||||||
4 | NIPPON KONPO UNYU SOKO CO., LTD. | Kanegasaki-cho, Iwate | Feb. 2025 | Warehouse | 24,578 m2 | Storage of auto-parts, | |||||||||
Pref. | etc. | ||||||||||||||
5 | NIPPON KONPO UNYU SOKO CO., LTD. Tokai, Aichi Pref. | Feb. 2025 | Warehouse | 19,490 m2 | A hub facility in the | ||||||||||
Chubu region | |||||||||||||||
6 | ITO-EXPRESS CO., LTD. | Koga, Ibaraki Pref. | Second half | Warehouse | 2,498 m2 | Newly-launched Koga | |||||||||
of FY2025 | Office | ||||||||||||||
7 | NIPPON KONPO UNYU SOKO CO., LTD. Suzuka, Mie Pref. | Apr. 2025 | Warehouse | 15,840 m2 | Storage of auto-parts, | ||||||||||
etc. | |||||||||||||||
8 | NIPPON KONPO UNYU SOKO CO., LTD. Suzuka, Mie Pref. | May 2025 | Warehouse | 7,384 m2 | Truck depot, automobile | ||||||||||
maintenance and others | |||||||||||||||
9 | NIPPON RIKUSO Co., Ltd. | Suzuka, Mie Pref. | Jul. 2025 | Warehouse | 33,914 m2 | Auto-parts and a relay | |||||||||
and logistics center | |||||||||||||||
2 | Auto-parts, including | ||||||||||||||
10 NIPPON UNYU CO., LTD. | Ota, Gunma Pref. | Aug. 2025 | Warehouse | 8,082 m | those for new customers |
(billion yen) | Amount | Descriptions |
Operating Fleets | 3.1 | 283 units (Additional trucks or replacements) |
Land and buildings | 13.2 | Land for business and warehouse construction |
Other | 6.2 | Facilities for the testing business and warehouse |
construction in progress | ||
Total | 22.5 | |
Conceptional drawing of | New warehouse at the | Sanwa Sales Office in Koga | NIKKON KITAKYU | 9 |
Nippon Konpo Indonesia | Miyoshi Sales Office | |||
2. Financial Results for the Fiscal Year Ended March 31, 2024 (6) M&A
Company name | Location | Acquisition date | Business outline | |
1 | MP., Co. Ltd | Chikuma, Nagano Pref. | Nov. 2023 | Manufacturing and sales of cardboard products |
2 | Koga Kankyo Service Co., Ltd. | Koga, Ibaraki Pref. | Dec. 2023 | Collection and transportation of industrial and |
general waste | ||||
3 | Mitsuba Logistics Co., Ltd. | Ota, Gunma Pref. | Apr. 2024 | A subsidiary engaged in logistics for auto-parts |
(Nikkon Ryomo Co., Ltd.) | manufacturers | |||
4 | Supreme Auto Transport, Inc. | Colorado, USA | May 2024 | Automobile transportation operator |
M&A target companies
- Covering blank areas
- Land for sales offices and warehouses (Higashi Osaka, Chugoku region: Mihara, Fukuyama and Asakuchi)
- Logistical operators (for development of new shippers)
- Logistics, warehousing and distribution processing operators mainly for manufacturers as shippers (through direct contracts)
- Logistics operators mainly serving customers in the sectors of pharmaceuticals, precision machinery and food (frozen and refrigerated warehouses)
- Manufacturers' subsidiaries engaged in logistics
- Upstream and downstream logistical operations
- Packaging operations, packaged materials, distribution processing operators, driving schools, industrial waste treatment, and recycling operations
- Staffing agencies for research and development on automobiles, testing operations and industrial work
- Overseas business
- General logistical support for Japanese manufacturers operating overseas (e.g. USA and India)
- Business expected to expand into import and export, customs clearance, warehousing, transportation, distribution
processing and others | 10 |
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Nikkon Holdings Co. Ltd. published this content on 04 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2024 02:06:07 UTC.