Sanyo Special Steel Co., Ltd.
Financial Report for
The Year Ended March 31, 2022
Sanyo Special Steel Co., Ltd. and Consolidated Subsidiaries
CONSOLIDATED BALANCE SHEETS
As of March 31, 2021 and 2022
Thousands of U.S. | ||||||||
Millions of yen | dollars (Note 3) | |||||||
ASSETS | ||||||||
2021 | 2022 | 2022 | ||||||
Current Assets: | ||||||||
Cash and bank deposits (Notes 6 and 23) | ¥ | 10,924 | ¥ | 14,483 | $ | 118,316 | ||
Notes and account receivable - trade (Notes 6 and 10) | 47,198 | - | - | |||||
Notes and accounts receivable - trade, and contract assets (Notes 6 and 10) | - | 69,019 | 563,839 | |||||
Electronically recorded monetary claims (Note 6) | 5,132 | 8,707 | 71,130 | |||||
Less: Allowance for doubtful accounts | (260) | (356) | (2,912) | |||||
Inventories (Notes 8 and 10) | 73,123 | 113,512 | 927,306 | |||||
Income taxes receivable | 226 | 18 | 146 | |||||
Deposits paid in parent company (Notes 6 and 23) | 14,415 | 7,924 | 64,736 | |||||
Other | 7,151 | 7,196 | 58,791 | |||||
Total current assets | 157,909 | 220,503 | 1,801,352 | |||||
Property, Plant and Equipment: | ||||||||
Land (Note 10) | 12,826 | 13,259 | 108,315 | |||||
Buildings and structures (Note 10) | 73,153 | 75,042 | 613,037 | |||||
Machinery and equipment (Note 10) | 273,285 | 286,723 | 2,342,320 | |||||
Construction in progress | 9,554 | 3,408 | 27,840 | |||||
Other (Note 10) | 13,963 | 14,953 | 122,151 | |||||
382,781 | 393,385 | 3,213,663 | ||||||
Less: Accumulated depreciation | (268,956) | (281,410) | (2,298,910) | |||||
Total property, plant and equipment | 113,825 | 111,975 | 914,753 | |||||
Intangibles | ||||||||
Goodwill | 34,176 | 33,284 | 271,906 | |||||
Other | 4,046 | 4,102 | 33,514 | |||||
Total intangible | 38,222 | 37,386 | 305,420 | |||||
Investments and Other Assets: | ||||||||
Investments in securities (Notes 6, 7 and 9) | 5,991 | 4,996 | 40,813 | |||||
Long-term loans receivable | 2 | 2 | 18 | |||||
Deferred tax assets (Note 13) | 639 | 2,055 | 16,783 | |||||
Net defined benefit assets (Note 12) | 1,836 | 300 | 2,452 | |||||
Other | 1,140 | 902 | 7,364 | |||||
Less: Allowance for doubtful accounts | (203) | (208) | (1,695) | |||||
Total investments and other assets | 9,405 | 8,047 | 65,735 | |||||
Total assets | ¥ | 319,361 | ¥ | 377,911 | $ | 3,087,260 | ||
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Thousands of U.S. | |||||||||
Millions of yen | dollars (Note 3) | ||||||||
LIABILITIES AND NET ASSETS | 2021 | 2022 | 2022 | ||||||
Current Liabilities: | |||||||||
Short-term loans (Notes 6, 10 and 11) | ¥ | 34,146 | ¥ | 34,367 | $ | 280,757 | |||
Current portion of long-term loans (Notes 6, 10 and 11) | 13,727 | 3,306 | 27,010 | ||||||
Commercial papers (Note 6) | - | 12,001 | 98,042 | ||||||
Notes and accounts payable - trade | 27,846 | 49,426 | 403,771 | ||||||
Accounts payable - other | 12,079 | 10,262 | 83,837 | ||||||
Accrued income taxes | 650 | 5,475 | 44,730 | ||||||
Accrued expenses | 7,984 | 12,685 | 103,624 | ||||||
Provision for environmental measures | 160 | 4 | 32 | ||||||
Other (Note 11) | 3,048 | 2,711 | 22,141 | ||||||
Total current liabilities | 99,640 | 130,237 | 1,063,944 | ||||||
Long-term Liabilities: | |||||||||
Bonds payable (Notes 6 and 11) | 10,000 | 10,000 | 81,693 | ||||||
Long-term loans (Notes 6, 10 and 11) | 12,429 | 19,324 | 157,863 | ||||||
Accrued directors' and corporate auditors' retirement benefits | 66 | 68 | 556 | ||||||
Deferred tax liabilities (Note 13) | 2,729 | 4,743 | 38,749 | ||||||
Provision for loss on guarantees | 3 | 1 | 11 | ||||||
Provision for environmental measures | 310 | 207 | 1,684 | ||||||
Net defined benefit liabilities (Note 12) | 12,852 | 12,165 | 99,381 | ||||||
Other (Note 11) | 1,444 | 2,321 | 18,957 | ||||||
Total long-term liabilities | 39,833 | 48,829 | 398,894 | ||||||
Total liabilities | 139,473 | 179,066 | 1,462,838 | ||||||
Contingent Liabilities (Note 26) | |||||||||
Net Assets (Note 14) | |||||||||
Shareholders' Equity: | |||||||||
Common stock: | |||||||||
Authorized 94,878,400 shares in 2021 and 2022 | |||||||||
Issued 54,507,307 shares in 2021 and 2022 | ¥ | 53,800 | ¥ | 53,800 | $ | 439,508 | |||
Capital surplus | 51,486 | 51,486 | 420,606 | ||||||
Retained earnings | 72,924 | 85,733 | 700,375 | ||||||
Less: Treasury stock, at cost (16,774 shares in 2021 and 19,566 shares in 2022) | (23) | (28) | (231) | ||||||
Total shareholders' equity | 178,187 | 190,991 | 1,560,258 | ||||||
Accumulated Other Comprehensive Income: | |||||||||
Valuation difference on available-for-sale securities | 1,661 | 1,383 | 11,297 | ||||||
Deferred gains on hedges | 885 | 2,134 | 17,438 | ||||||
Foreign currency translation adjustments | (650) | 4,120 | 33,657 | ||||||
Remeasurements of defined benefit plans | (1,690) | (1,634) | (13,349) | ||||||
Total accumulated other comprehensive income | 206 | 6,003 | 49,043 | ||||||
Non-controlling Interests | 1,495 | 1,851 | 15,121 | ||||||
Total net assets | 179,888 | 198,845 | 1,624,422 | ||||||
Total liabilities and net assets | ¥ | 319,361 | ¥ | 377,911 | $ | 3,087,260 | |||
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Sanyo Special Steel Co., Ltd. and Consolidated Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
For the years ended March 31, 2021 and 2022
Thousands of U.S. | ||||||||
Millions of yen | dollars (Note 3) | |||||||
2021 | 2022 | 2022 | ||||||
Net Sales (Note 29) | ¥ | 210,722 | ¥ | 363,278 | $ | 2,967,719 | ||
Cost of Sales (Notes 8 and 15) | 187,949 | 303,394 | 2,478,514 | |||||
Gross profit | 22,773 | 59,884 | 489,205 | |||||
Selling, General and Administrative Expenses (Notes 15 and 17) | 28,266 | 38,467 | 314,245 | |||||
Operating income (loss) | (5,493) | 21,417 | 174,960 | |||||
Other Income: | ||||||||
Interest and dividends | 196 | 263 | 2,147 | |||||
Rent income | 539 | 442 | 3,609 | |||||
Income from deposit transfer following extinctive prescription | 99 | - | - | |||||
Exchange gains | 539 | 164 | 1,340 | |||||
Other | 175 | 243 | 1,989 | |||||
1,548 | 1,112 | 9,085 | ||||||
Other Expenses: | ||||||||
Interest | (641) | (615) | (5,025) | |||||
Other | (177) | (250) | (2,041) | |||||
(818) | (865) | (7,066) | ||||||
Ordinary income (loss) | (4,763) | 21,664 | 176,979 | |||||
Extraordinary Gains and Losses: | ||||||||
Impairment loss (Note 21) | (3,929) | - | - | |||||
Loss on sale and disposition of property, plant and equipment (Note 19) | (625) | (193) | (1,576) | |||||
Loss on liquidation of subsidiaries (Note 20) | - | (414) | (3,388) | |||||
Extra retirement payments | (425) | - | - | |||||
Loss on evaluation of investments in securities | (30) | (219) | (1,791) | |||||
Gain on sale of property, plant and equipment (Note 18) | - | 43 | 355 | |||||
Gain on sales of land | 169 | - | - | |||||
Gain on sale of investment in securities | 84 | 92 | 755 | |||||
(4,756) | (691) | (5,645) | ||||||
Income (loss) before income taxes | (9,519) | 20,973 | 171,334 | |||||
Income Taxes (Note 13): | ||||||||
Current | 674 | 5,252 | 42,905 | |||||
Deferred | (1,231) | 224 | 1,827 | |||||
(557) | 5,476 | 44,732 | ||||||
Net income (loss) | (8,962) | 15,497 | 126,602 | |||||
Net Income (Loss) Attributable to Non-controlling Interests | (2,092) | 230 | 1,880 | |||||
Net Income (Loss) Attributable to Owners of the Parent | ¥ | (6,870) | ¥ | 15,267 | $ | 124,722 |
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Yen | U.S. dollars (Note 3) | |||||||||
2021 | 2022 | 2022 | ||||||||
Per Share: | ||||||||||
Net income (loss) (Note 22) | ¥ | (126.07) | ¥ | 280.19 | $ | 2.29 | ||||
Cash dividends | ¥ | - | ¥ | 90.00 | $ | 0.74 | ||||
Net assets | ¥ | 3,273.84 | ¥ | 3,615.39 | $ | 29.54 |
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Sanyo Special Steel Co. Ltd. published this content on 02 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 07:29:05 UTC.