Takashima : Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022

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 Nine Months Ended December 31, 2022 (Based on Japanese GAAP)

February 9, 2023

Company name:

Takashima & Co.,Ltd.

Stock exchange listing:

Tokyo

Stock code:

8007

URL

https://www.tak.co.jp/en/index.html

Representative:

President

Koichi Takashima

Inquiries:

Accounting Unit Manager

Koki Sakai

TEL

[phone]

Scheduled date to file Quarterly Securities Report:

February 9, 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 nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)

(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

%

Nine months ended December 31, 2022

60,211

6.5

983

(21.6)

1,098

(24.7)

799

(23.1)

Nine months ended December 31, 2021

56,512

(6.6)

1,255

22.5

1,458

34.7

1,040

27.3

Earnings per share

Diluted earnings per share

Yen

Yen

Nine months ended December 31, 2022

178.72

-

Nine months ended December 31, 2021

230.83

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of December 31, 2022

54,887

19,108

34.8

4,295.45

As of March 31, 2022

45,176

18,477

40.9

4,129.61

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, 2022

-

0.00

-

130.00

130.00

Year ending March 31, 2023

-

70.00

-

Year ending March 31, 2023 (Forecast)

70.00

140.00

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

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	82,000	10.7	1,800	16.3	1,900		3.2	1,400		8.0	312.97

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4. Notes

1. Changes in significant subsidiaries during the nine months ended December 31, 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:	Yes
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 December 31, 2022	4,500,973	shares	As of March 31, 2022	4,500,973	shares
Number of treasury shares at the end of the period
	As of December 31, 2022	52,363	shares	As of March 31, 2022	26,677	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended December 31, 2022	4,473,300	shares	Nine months ended December 31, 2021	4,506,579	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of December 31, 2022
Assets
Current assets
Cash and deposits	7,305	5,971
Notes and accounts receivable - trade, and contract	22,292	29,028
assets
Merchandise and finished goods	4,091	5,580
Work in process	118	111
Raw materials and supplies	1,215	1,502
Costs on construction contracts in progress	7	28
Other	440	744
Allowance for doubtful accounts	(47)	(62)
Total current assets	35,423	42,903
Non-current assets
Property, plant and equipment	4,252	4,593
Intangible assets	514	592
Investments and other assets
Investment securities	2,992	4,683
Retirement benefit asset	298	308
Other	1,872	1,966
Allowance for doubtful accounts	(176)	(161)
Total investments and other assets	4,986	6,797
Total non-current assets	9,753	11,983
Total assets		45,176	54,887

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						(Millions of yen)
					As of March 31, 2022	As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	14,123	17,187
Electronically recorded obligations - operating	3,864	3,636
Short-term borrowings				926	6,368
Income taxes payable				384	217
Provision for bonuses				427	284
Provision	for bonuses	for directors (and other	35	32
officers)
Other					1,262	2,456
Total current liabilities				21,024	30,184
Non-current liabilities
Long-term borrowings				3,360	3,180
Retirement benefit liability			68	77
Other					2,246	2,336
Total non-current liabilities			5,675	5,594
Total liabilities				26,699	35,778
Net assets
Shareholders' equity
Share capital				3,801	3,801
Capital surplus				1,725	1,728
Retained earnings				11,792	11,696
Treasury shares				(56)	(137)
Total shareholders' equity			17,262	17,088
Accumulated other comprehensive income
Valuation	difference	on	available-for-sale	738	726
securities
Revaluation reserve for land			417	417
Foreign currency translation adjustment	36	853
Remeasurements of defined benefit plans	21	22
Total accumulated other comprehensive income	1,214	2,020
Total net assets				18,477	19,108
Total liabilities and net assets				45,176	54,887

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

Consolidated statements of income (cumulative)

			(Millions of yen)
		Nine months ended	Nine months ended
		December 31, 2021	December 31, 2022
Net sales	56,512	60,211
Cost of sales	50,221	53,454
Gross profit	6,291	6,757
Selling, general and administrative expenses	5,035	5,773
Operating profit	1,255	983
Non-operating income
Interest income	30	21
Dividend income	96	116
Share of profit of entities accounted for using equity	-	12
method
Foreign exchange gains	28	-
Reversal of allowance for doubtful accounts	1	3
Other	98	97
Total non-operating income	255	250
Non-operating expenses
Interest expenses	17	31
Foreign exchange losses	-	85
Share of loss of entities accounted for using equity	8	-
method
Leave allowance of non-current assets	22	12
Other	4	6
Total non-operating expenses	52	135
Ordinary profit	1,458	1,098
Extraordinary income
Gain on sale of investment securities	-	110
Total extraordinary income	-	110
Extraordinary losses
Loss on retirement of non-current assets	-	25
Loss on tax purpose reduction entry of non-current	-	7
assets
Total extraordinary losses	-	33
Profit before income taxes	1,458	1,176
Income taxes - current	400	345
Income taxes for prior periods	-	63
Income taxes - deferred	18	(31)
Total income taxes	418	377
Profit	1,040	799
Profit attributable to owners of parent		1,040	799

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