Annual Report 2022
P r o f i l e
Since Okumura was established in 1907, our mission has been to contribute to society through our business under our corporate mottos, "steadfast management" and "sincere operation."
We will continue to accumulate a wealth of technical expertise and, as a general contractor company with a harmonious mix of civil engineering and architectural construction, make steady strides forward in our aim to realize comfortable, safe and secure lives for people, and a sustainable society as well.
C o n t e n t s
1 | Financial Highlights | 12 | Consolidated Statement of Changes in Equity |
2 | To Our Shareholders | 13 | Consolidated Statement of Cash Flows |
4 | Review of Operations | 14 | Notes to Consolidated Financial Statements |
6 | Topics | 36 | Independent Auditor's Report |
8 | Consolidated Balance Sheet | 39 | Breakdown of Orders (Nonconsolidated) |
10 | Consolidated Statement of Income | 40 | Network |
11 | Consolidated Statement of Comprehensive Income | 41 | Board of Directors / Investor Information |
Financial Highlights
Okumura Corporation Annual Report 2022 | ||||||||
For the years ended March 31 | 2020 | 2021 | 2022 | 2022 | ||||
Consolidated: | Millions of Yen | Thousands of | ||||||
U.S. Dollars | ||||||||
Net sales | ¥226,372 | ¥220,712 | ¥242,459 | $1,980,709 | ||||
Operating income | 11,517 | 12,880 | 12,647 | 103,317 | ||||
Net income attributable to owners of the parent | 9,796 | 10,285 | 12,542 | 102,456 | ||||
Total assets | 294,919 | 329,005 | 332,349 | 2,715,044 | 1 | |||
Total equity | 156,112 | 167,964 | 167,425 | 1,367,742 | ||||
Per Share: | Yen | U.S. Dollars | ||||||
Basic net income | ¥258.01 | ¥271.90 | ¥334.11 | $2.73 | ||||
Cash dividends applicable to the year | 143.00 | 140.00 | 172.00 | 1.41 |
*"Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from the beginning of the fiscal period of March 2022. Accordingly, the summaries of business results for the fiscal period of March 2022 represent performance results after applying the said accounting standards, etc.
Note: The U.S. dollar amounts included herein are presented solely for convenience of the reader. Such dollar amounts have been translated from yen at the approximate exchange rate in Tokyo on March 31, 2022, of ¥122.41=$1.
Net Sales
(Millions of Yen)
250,000 | ||
200,000 | ||
150,000 | ||
100,000 | ||
50,000 | ||
0 | ||
2020 | 2021 | 2022 |
Net income attributable to owners of the parent
(Millions of Yen)
15,000 | ||
12,000 | ||
9,000 | ||
6,000 | ||
3,000 | ||
0 | ||
2020 | 2021 | 2022 |
TotalEquity
(Millions of Yen)
200,000 | ||
160,000 | ||
120,000 | ||
80,000 | ||
40,000 | ||
0 | ||
2020 | 2021 | 2022 |
Disclaimer Regarding Forecasts and Projections
This Annual Report includes forecasts, projections and other predictive statements that represent Okumura's assumptions and expectations in light of currently available information. These forecasts, etc., are based on industry trends, circumstances involving clients and other factors, and involve risks, variables and uncertainties. The Okumura Group's actual performance results may differ from those projected in this Annual Report. Consequently, no guarantee is presented or implied as to the accuracy of specific forecasts, projections or predictive statements contained herein.
To Our Shareholders
We would like to thank our shareholders for their continuing support and encouragement and wish each one of them the greatest success in their endeavors.
A general overview of our business performance for the fiscal period of March 2022 (April 1,
2 2021 to March 31, 2022) is provided below.
Results for the Year Ended March 31, 2022
During the period under review, the Japanese economy continued to seesaw under the effects of the novel coronavirus (COVID-19), with progress made in the roll-out of vaccines on the one hand, while new variants spread on the other. Amid this, the deterioration of the situation in Ukraine and other factors contributed to an even greater sense of uncertainty. In this climate, although a certain robustness in construction investment was maintained thanks in part to various forms of policy support, increased competition for orders and the skyrocketing prices of steel and other materials added to the severe business environment in the construction industry.
In these circumstances, mainly due to increases in the construction business, the Company's consolidated net sales increased 9.9% year on year to ¥242,459 million, which led to an increase of 1.1% year on year in consolidated gross profit to ¥31,838 million. Consolidated operating income decreased 1.8% year on year to ¥12,647 million, primarily due to increases in selling, general and administrative expenses, but net income attributable to owners of the parent increased 21.9% year on year to ¥12,542 million, mainly due to an increase in gain on sale of investment securities.
Dividend for the Year Ended March 31, 2022
The Company decided to pay a dividend of ¥172.00 per share (interim dividend of ¥65.00, year-end dividend of ¥107.00) for the period ended March 31, 2022 based on its basic policy regarding profit sharing.
The Company has reviewed its shareholder return policy for next fiscal year and beyond due to the need to balance active investments for the realization of its "Vision toward 2030" with steady profit sharing with our shareholders.
Medium Term Business Plan
The outlook for the Japanese economy is expected to follow a moderate path to recovery, underpinned by policy support measures, albeit it with some fluctuation caused by the impact of COVID-19. However, the sense of uncertainty due to the course of the pandemic and geopolitical risks remains strong, and the
Okumura Corporation Annual Report 2022
3
unpredictable situation is likely to continue. In the construction industry, construction investment is expected to remain firm, particularly in the public sector, but there are concerns about even further rises in construction costs, and the business environment is likely to become even more severe.
Under these circumstances, the Okumura Group will continue to contribute to the sustainable development of society through the long-term continuation of our business into the future, amid accelerating changes in the business environment and increasingly diverse social needs. As the second step toward the realization of our "Vision toward 2030," we have formulated our Medium Term Business Plan (FY2022-FY2024). While following the same basic policies for business strategies upheld in the previous Medium Term Management Plan, we intend to deepen the efforts we have made to date even further.
Specifically, we will pursue the "enhancement of corporate value" by improving our productivity and technological advantage through operational reforms and the promotion of strategic technological developments and digital transformation (DX), and the reinforcement of ESG/SDG initiatives, as well as the "expansion of business domains" by further expanding our real estate business and new businesses and building the foundations for our overseas business. Further, we will continue with our efforts to "leverage our human resources" by promoting work style reform, giving our diverse people, who underpin our business strategies, the opportunity to flourish, and promoting initiatives to strengthen staff education.
Under the Medium Term Business Plan, we will undertake initiatives for business activities and ESG/SDGs by reflecting measures to solve sustainability-related issues in the Plan. We declared our endorsement of the Task Force on Climate-Related Financial Disclosures (TCFD) in April 2022, and we will further strengthen our efforts toward the realization of a sustainable society.
The Company looks forward to the continued support and guidance of our shareholders.
June 2022
Takanori Okumura
President and Representative Director
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Okumura Corporation published this content on 22 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2022 05:05:02 UTC.