Ricoh Leasing : Consolidated Financial Report for 1Q / Mar. 2024（228KB）

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 Three Months Ended June 30, 2023 (Based on Japanese GAAP)

August 3, 2023

Company name:	RICOH LEASING COMPANY, LTD.
Stock exchange listing:	Tokyo
Stock code:	8566	URL https://www.r-lease.co.jp/
Representative:	President and Chief Executive Officer	Tokuharu Nakamura
Inquiries:	Managing Executive Officer and General	Hiroshi Osawa	TEL [phone]
Manager of Corporate Management Division
Scheduled date to file Quarterly Securities Report:	August 8, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)								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		%
Three months ended June 30, 2023	77,575		1.5		5,264		(23.0)		5,284		(23.8)		944		(80.0)
Three months ended June 30, 2022	76,394		0.5		6,838		21.9		6,934			25.7		4,728		24.0
	Earnings per share		Diluted earnings per share
			Yen						Yen
Three months ended June 30, 2023			30.65						-
Three months ended June 30, 2022			153.41						-
(2) Consolidated financial position
	Total assets				Net assets	Equity ratio			Net assets per share
	Millions of yen			Millions of yen					%				Yen
As of June 30, 2023	1,261,643					212,437					16.8		6,891.77
As of March 31, 2023	1,236,921					211,701					17.1		6,867.91
2. Cash dividends
						Annual dividends per share
	1st quarter-end	2nd quarter-end			3rd quarter-end	Fiscal year-end	Total
	Yen				Yen				Yen					Yen			Yen
Year ended March 31, 2023		-			65.00				-				80.00			145.00
Year ending March 31, 2024		-
Year ending March 31, 2024 (Forecast)					75.00				-				75.00			150.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 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	306,000	2.4	20,600	(3.0)	20,700	(4.0)	14,400	(3.2)	467.16

1

4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) 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

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023	31,243,223	shares	As of March 31, 2023	31,243,223	shares
Number of treasury shares at the end of the period
As of June 30, 2023	418,481	shares	As of March 31, 2023	418,481	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2023	30,824,742	shares	Three months ended June 30, 2022	30,824,932	shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2023	As of June 30, 2023
Assets
Current assets
Cash and deposits	14,119	28,279
Notes and accounts receivable - trade	242	222
Installment receivables	181,611	175,388
Lease payments receivable	27,369	26,844
Lease receivables and investments in leases	509,737	507,093
Accounts receivable - operating loans	253,706	258,826
Accounts receivable - other loans to customers	31,198	32,204
Other operating assets	12,528	12,529
Accounts receivable - lease	13,406	13,696
Other current assets	45,537	48,925
Allowance for doubtful accounts	(12,338)	(12,097)
Total current assets		1,077,120	1,091,915
Non-current assets
Property, plant and equipment
Assets for lease	69,141	75,826
Own-used assets	36,952	38,319
Total property, plant and equipment	106,094	114,145
Intangible assets
Assets for lease	42	31
Other intangible assets	7,014	8,126
Total intangible assets	7,057	8,158
Investments and other assets
Investment securities	31,234	31,259
Distressed receivables	602	603
Other	15,403	16,154
Allowance for doubtful accounts	(592)	(591)
Total investments and other assets	46,649	47,424
Total non-current assets	159,800	169,728
Total assets		1,236,921	1,261,643

3

			(Millions of yen)
		As of March 31, 2023	As of June 30, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade	19,995	13,127
Current portion of bonds payable	30,000	65,000
Current portion of long-term borrowings	103,000	95,000
Current portion of long-term payables under securitization	14,577	13,517
of lease receivables
Commercial papers	36,000	27,000
Income taxes payable	4,308	1,945
Deferred profit on installment sales	24,033	23,320
Provision for bonuses	1,364	824
Provision for bonuses for directors (and other officers)	65	-
Other current liabilities	60,379	65,018
Total current liabilities	293,724	304,753
Non-current liabilities
Bonds payable	85,000	85,000
Long-term borrowings	612,000	628,000
Long-term payables under securitization of lease	21,017	17,962
receivables
Retirement benefit liability	764	768
Asset retirement obligations	1,132	1,161
Other noncurrent liabilities	11,580	11,561
Total non-current liabilities	731,495	744,453
Total liabilities	1,025,219	1,049,206
Net assets
Shareholders' equity
Share capital	7,896	7,896
Capital surplus	10,159	10,159
Retained earnings	195,040	193,519
Treasury shares	(1,680)	(1,673)
Total shareholders' equity	211,416	209,903
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	(253)	2,266
Deferred gains or losses on hedges	640	379
Remeasurements of defined benefit plans	(102)	(112)
Total accumulated other comprehensive income	285	2,534
Total net assets	211,701	212,437
Total liabilities and net assets		1,236,921	1,261,643

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2022	June 30, 2023
Net sales	76,394	77,575
Cost of sales	64,845	66,442
Gross profit	11,549	11,132
Selling, general and administrative expenses	4,711	5,868
Operating profit	6,838	5,264
Non-operating income
Interest income	0	0
Dividend income	107	165
Other	8	6
Total non-operating income	115	171
Non-operating expenses
Interest expenses	10	14
Bond issuance costs	-	118
Other	8	19
Total non-operating expenses	19	152
Ordinary profit	6,934	5,284
Extraordinary losses
Loss on valuation of investment securities	-	3,902
Total extraordinary losses	-	3,902
Profit before income taxes	6,934	1,382
Income taxes - current	2,222	1,723
Income taxes - deferred	(17)	(1,285)
Total income taxes	2,205	437
Profit	4,728	944
Profit attributable to non-controlling interests	-	-
Profit attributable to owners of parent		4,728	944

5