Ohba : Financial Results for the Fiscal Year Ended (165.46KB)

Translation

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.

Summary of Consolidated Financial Results

for the Year Ended May 31, 2023

(Based on Japanese GAAP)

																					July 13, 2023
Company name:	OHBA CO.,LTD.
Stock exchange listing:	Tokyo
Stock code:	9765	URL http://www.k-ohba.co.jp
Representative:	Representative Director,President			Shigeru Tsujimoto
Inquiries:	Managing Executive Officer			Hirofumi Katayama	TEL [phone]
Scheduled date of ordinary general meeting of shareholders:	August 25, 2023
Scheduled date to file Securities Report:			August 25, 2023
Scheduled date to commence dividend payments:			August 28, 2023
Preparation of supplementary material on financial results:			No
Holding of financial results meeting:							No
												(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended May 31, 2023 (from June 1, 2022 to May 31, 2023)
(1) Consolidated operating results													Percentages indicate year-on-year changes
			Net sales			Operating profit	Ordinary profit		Profit attributable to
						owners of parent
			Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen		%
Year ended May 31, 2023		15,647		(1.8)	1,714		8.3		1,787		8.1	1,075		(0.9)
Year ended May 31, 2022		15,933		0.4	1,582		18.6		1,654		19.9	1,085		27.3
			Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
					share			owners of				assets			sales
									parent/equity
				Yen			Yen			%						%				%
Year ended May 31, 2023		66.74		63.94				10.6						11.7				11.0
Year ended May 31, 2022		66.98		64.17				11.4						11.7				9.9
(2) Consolidated financial position
			Total assets			Net assets		Equity ratio		Net assets per share
			Millions of yen	Millions of yen						%					Yen
As of May 31, 2023			16,117					10,930						65.4					657.93
As of May 31, 2022			14,426					10,229						68.2					610.30
(3) Consolidated cash flows
			Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
			operating activities	investing activities	financing activities		at end of period
			Millions of yen	Millions of yen	Millions of yen		Millions of yen
Year ended May 31, 2023		2,294					573						(619)					4,205
Year ended May 31, 2022					(345)					(178)						(521)					1,955
2. Cash dividends
							Annual dividends per share					Total cash	Dividend payout	Ratio of dividends
																to net assets
			1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
			Yen			Yen	Yen		Yen	Yen	Millions of yen	%			%
Year ended May 31, 2022		-		8.00	-		15.00	23.00			371	34.3			4.0
Year ended May 31, 2023		-		11.00	-		13.00	24.00			386	36.0			3.8
Year ending May 31, 2024		-			17.00	-				17.00	34.00				47.4
(Forecast)

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3. Forecast of consolidated financial results for the year ending May 31, 2024 (from June 1, 2023 to May 31, 2024)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

17,000

8.6

1,800

5.0

1,850

3.5

1,150

6.9

71.75

4. Notes

(1) Changes in significant subsidiaries during the year ended May 31, 2023

No

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:

No

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of May 31, 2023	17,250,000	shares	As of May 31, 2022	17,500,000	shares
Number of treasury shares at the end of the period
	As of May 31, 2023	1,222,012	shares	As of May 31, 2022	1,378,147	shares
Average number of shares during the period
	Year ended May 31, 2023	16,112,761	shares	Year ended May 31, 2022	16,206,688	shares

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Consolidated financial statements

Consolidated balance sheets

		(Thousands of yen)
	As of May 31, 2022	As of May 31, 2023
Assets
Current assets
Cash and deposits	1,955,831	4,205,305
Notes and accounts receivable - trade, and contract assets	4,833,386	4,802,853
Costs on service contracts in progress	252,424	503,299
Real estate for sale	5,634	5,634
Other	575,523	170,458
Allowance for doubtful accounts	-	(44,824)
Total current assets	7,622,800	9,642,727
Non-current assets
Property, plant and equipment
Buildings and structures	1,990,384	1,229,006
Accumulated depreciation	(826,709)	(247,836)
Buildings and structures, net	1,163,675	981,170
Machinery, equipment and vehicles	770,888	771,446
Accumulated depreciation	(500,470)	(542,307)
Machinery, equipment and vehicles, net	270,417	229,139
Land	2,659,018	1,961,889
Other	900,370	819,911
Accumulated depreciation	(727,714)	(680,461)
Other, net	172,655	139,450
Total property, plant and equipment	4,265,766	3,311,649
Intangible assets
Software	111,784	79,775
Other	1,658	1,885
Total intangible assets	113,443	81,660
Investments and other assets
Investment securities	1,120,223	1,208,021
Long-term lease and deposits on golf	324,195	367,329
Distressed receivables	38,168	-
Retirement benefit asset	945,759	1,373,352
Deferred tax assets	10,771	9,472
Other	23,887	123,050
Allowance for doubtful accounts	(38,168)	-
Total investments and other assets	2,424,838	3,081,226
Total non-current assets	6,804,047	6,474,536
Total assets	14,426,848	16,117,264

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		(Thousands of yen)
	As of May 31, 2022	As of May 31, 2023
Liabilities
Current liabilities
Accounts payable - trade	1,026,721	1,257,393
Income taxes payable	330,154	92,537
Advances received on service contracts in progress	1,116,404	1,428,187
Provision for bonuses	501,080	551,675
Provision for loss on orders received	30	3,116
Provision for shareholder benefit program	17,349	19,061
Other	497,601	919,774
Total current liabilities	3,489,341	4,271,746
Non-current liabilities
Retirement benefit liability	14,536	33,200
Asset retirement obligations	251,647	280,572
Deferred tax liabilities	435,804	596,556
Other	5,712	4,381
Total non-current liabilities	707,701	914,710
Total liabilities	4,197,043	5,186,457
Net assets
Shareholders' equity
Share capital	2,131,733	2,131,733
Capital surplus	532,933	532,933
Retained earnings	7,448,995	7,940,953
Treasury shares	(798,125)	(746,407)
Total shareholders' equity	9,315,536	9,859,212
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	349,041	448,410
Remeasurements of defined benefit plans	174,600	237,583
Total accumulated other comprehensive income	523,642	685,993
Share acquisition rights	390,626	385,600
Total net assets	10,229,804	10,930,806
Total liabilities and net assets	14,426,848	16,117,264

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

		(Thousands of yen)
	Fiscal year ended	Fiscal year ended
	May 31, 2022	May 31, 2023
Net sales	15,933,022	15,647,518
Cost of sales	11,095,417	10,467,540
Gross profit	4,837,605	5,179,977
Selling, general and administrative expenses	3,254,784	3,465,062
Operating profit	1,582,821	1,714,914
Non-operating income
Interest income	20	15
Dividend income	40,913	43,962
Insurance claim and dividend income	12,063	16,848
Gain on sale of securities	10,767	3,890
Other	18,408	23,984
Total non-operating income	82,173	88,701
Non-operating expenses
Interest expenses	5,114	5,333
Guarantee commission	2,335	1,833
Delinquency charges	3,227	8,360
Other	11	113
Total non-operating expenses	10,689	15,641
Ordinary profit	1,654,304	1,787,974
Extraordinary income
Gain on sale of non-current assets	-	90
Gain on bargain purchase	-	210,100
Total extraordinary income	-	210,191
Extraordinary losses
Loss on sale of non-current assets	1,405	-
Loss on retirement of non-current assets	1,006	1,364
Impairment losses	-	432,040
Loss on valuation of investment securities	-	14,149
Loss on valuation of golf club membership	10,960	-
Expenses related to the 100th anniversary of foundation	46,454	49,495
Total extraordinary losses	59,827	497,049
Profit before income taxes	1,594,477	1,501,116
Income taxes - current	577,463	343,262
Income taxes - deferred	(68,498)	82,464
Total income taxes	508,964	425,727
Profit	1,085,512	1,075,389
Profit attributable to owners of parent	1,085,512	1,075,389

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