Consolidated Financial Results
for the Three Months Ended June 30, 2023 (Under Japanese GAAP)
August 4, 2023
The Sumitomo Warehouse Co., Ltd.
Listing: | Tokyo Stock Exchange |
Securities code: | 9303 |
URL: | https://www.sumitomo-soko.co.jp/ |
Representative: | Takanori Ono, President |
Inquiries: | Akihiko Hoshino, Director, Managing Executive |
Officer, General Manager, Finance & Accounting | |
Department | |
Telephone: | +81 6 6444 1183 |
Scheduled date to file quarterly securities report: | August 8, 2023 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on quarterly | None |
financial results: | |
Holding of quarterly financial results briefing: | None |
(Yen amounts are rounded down to millions, unless otherwise noted.)
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.) | |||||||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | |||||||||
owners of parent | ||||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
June 30, 2023 | 46,678 | (32.7) | 3,342 | (75.1) | 5,159 | (65.1) | 3,518 | (70.0) | ||||
June 30, 2022 | 69,314 | 35.6 | 13,408 | 223.8 | 14,769 | 172.5 | 11,725 | 213.6 | ||||
Note: Comprehensive income: | ||||||||||||
For the three months ended June 30, 2023: ¥18,810 million [36.8%] | ||||||||||||
For the three months ended June 30, 2022: ¥13,746 million [245.2%] | ||||||||||||
Basic earnings | Diluted earnings | |||||||||||
per share | per share | |||||||||||
Three months ended | Yen | Yen | ||||||||||
June 30, 2023 | 44.32 | 44.22 | ||||||||||
June 30, 2022 | 145.58 | 145.21 | ||||||||||
(2) Consolidated financial position | ||||||||||||
Total assets | Net assets | Equity-to-asset ratio | ||||||||||
As of | Millions of yen | Millions of yen | % | |||||||||
June 30, 2023 | 402,688 | 243,642 | 57.6 | |||||||||
March 31, 2023 | 385,791 | 228,945 | 56.3 | |||||||||
Note: Equity |
As of June 30, 2023: ¥231,878 million
As of March 31, 2023: ¥217,337 million
- 1 -
2. Cash dividends
Annual dividends per share | |||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal year ended March 31, 2023 | - | 50.00 | - | 50.00 | 100.00 |
Fiscal year ending March 31, 2024 | - | ||||
Fiscal year ending March 31, 2024 | 50.50 | - | 50.50 | 101.00 | |
(Forecast) | |||||
Note: Revisions to the forecast of cash dividends most recently announced: None
3. Consolidated forecasts for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
(Percentages indicate year-on-year changes.)
Profit attributable to | Basic | |||||||||
Operating revenue | Operating profit | Ordinary profit | earnings | |||||||
owners of parent | ||||||||||
per share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Six months ending | 100,250 | (18.8) | 7,000 | (60.4) | 8,850 | (53.8) | 5,700 | (61.4) | 71.80 | |
September 30, 2023 | ||||||||||
Fiscal year ending | 200,000 | (10.7) | 14,500 | (44.4) | 18,100 | (37.8) | 12,400 | (44.8) | 156.19 | |
March 31, 2024 | ||||||||||
Note: Revisions to the financial forecast most recently announced: None |
- Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- 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 : 79,997,315 shares
As of March 31, 2023 : 79,997,315 shares
- Number of treasury shares at the end of the period: As of June 30, 2023 : 599,015 shares
As of March 31, 2023 : 606,749 shares - Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year): Three months ended June 30, 2023 : 79,398,387 shares
Three months ended June 30, 2022 : 80,543,073 shares
* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Explanation for the proper use of forecasts and other special instructions
The forecasts are based on information currently available and certain assumptions judged to be reasonable. The Company's actual results may differ materially from the forecasts as a result of numerous factors outside of the Company's control.
- 2 -
Consolidated Financial Results
(1) Quarterly consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Assets | |||
Current assets | |||
Cash and deposits | 48,994 | 41,115 | |
Notes and accounts receivable-trade | 22,961 | 21,427 | |
Real estate for sale | 2,894 | 2,913 | |
Work in process | 1 | 4 | |
Other | 17,335 | 10,626 | |
Allowance for doubtful accounts | (170) | (164) | |
Total current assets | 92,016 | 75,922 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 86,570 | 88,989 | |
Machinery, equipment and vehicles, net | 5,657 | 5,663 | |
Vessels, net | 467 | 454 | |
Tools, furniture and fixtures, net | 1,007 | 999 | |
Land | 63,289 | 73,982 | |
Construction in progress | 5,627 | 4,584 | |
Other, net | 3,448 | 3,260 | |
Total property, plant and equipment | 166,069 | 177,934 | |
Intangible assets | |||
Leasehold interests in land | 5,138 | 5,138 | |
Software | 1,622 | 1,536 | |
Other | 205 | 226 | |
Total intangible assets | 6,966 | 6,901 | |
Investments and other assets | |||
Investment securities | 112,674 | 133,887 | |
Long-term loans receivable | 279 | 276 | |
Deferred tax assets | 1,089 | 1,072 | |
Other | 6,909 | 6,908 | |
Allowance for doubtful accounts | (214) | (214) | |
Total investments and other assets | 120,739 | 141,930 | |
Total non-current assets | 293,774 | 326,766 | |
Total assets | 385,791 | 402,688 |
- 3 -
(Millions of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable-trade | 12,250 | 12,131 | |
Short-term borrowings | 13,416 | 5,866 | |
Commercial papers | 5,000 | 5,000 | |
Income taxes payable | 7,038 | 1,120 | |
Provision for bonuses | 1,451 | 710 | |
Other | 11,637 | 9,402 | |
Total current liabilities | 50,794 | 34,232 | |
Non-current liabilities | |||
Bonds payable | 47,000 | 47,000 | |
Long-term borrowings | 16,995 | 29,034 | |
Deferred tax liabilities | 28,009 | 34,746 | |
Provision for retirement benefits for directors (and | 76 | 83 | |
other officers) | |||
Retirement benefit liability | 4,335 | 4,384 | |
Long-term deposits received | 7,820 | 7,943 | |
Other | 1,813 | 1,622 | |
Total non-current liabilities | 106,050 | 124,814 | |
Total liabilities | 156,845 | 159,046 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 14,922 | 14,922 | |
Capital surplus | 12,347 | 12,347 | |
Retained earnings | 131,554 | 131,091 | |
Treasury shares | (1,171) | (1,156) | |
Total shareholders' equity | 157,653 | 157,204 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 54,920 | 69,531 | |
Foreign currency translation adjustment | 4,154 | 4,559 | |
Remeasurements of defined benefit plans | 608 | 583 | |
Total accumulated other comprehensive income | 59,684 | 74,674 | |
Share acquisition rights | 217 | 208 | |
Non-controlling interests | 11,391 | 11,555 | |
Total net assets | 228,945 | 243,642 | |
Total liabilities and net assets | 385,791 | 402,688 |
- 4 -
- Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income (Quarterly consolidated statements of income)
(Millions of yen) | |||
Three months ended | Three months ended | ||
June 30, 2022 | June 30, 2023 | ||
Operating revenue | |||
Warehouse income | 7,497 | 7,807 | |
Harbor transportation income | 7,700 | 7,738 | |
International transportation income | 17,804 | 13,457 | |
Land transportation income | 11,756 | 11,676 | |
Shipping income | 18,836 | - | |
Rent income of warehouse and logistics facilities | 1,536 | 1,486 | |
Real estate lease revenue | 2,495 | 2,527 | |
Other | 1,686 | 1,984 | |
Total operating revenue | 69,314 | 46,678 | |
Operating costs | |||
Cost of sales | 37,644 | 26,108 | |
Personal expenses | 6,500 | 6,973 | |
Rent expenses | 3,449 | 2,372 | |
Taxes and dues | 616 | 857 | |
Depreciation | 2,355 | 2,256 | |
Other | 2,409 | 2,462 | |
Total operating costs | 52,975 | 41,031 | |
Operating gross profit | 16,338 | 5,646 | |
Selling, general and administrative expenses | |||
Salaries, allowances and welfare expenses | 1,582 | 1,309 | |
Provision for bonuses | 221 | 39 | |
Retirement benefit expenses | 67 | 47 | |
Amortization of goodwill | 4 | - | |
Other | 1,055 | 906 | |
Total selling, general and administrative expenses | 2,930 | 2,304 | |
Operating profit | 13,408 | 3,342 | |
Non-operating income | |||
Interest and dividend income | 1,829 | 1,796 | |
Share of profit of entities accounted for using equity method | 67 | 29 | |
Other | 75 | 102 | |
Total non-operating income | 1,971 | 1,928 | |
Non-operating expenses | |||
Interest expenses | 80 | 92 | |
Commission expenses | 376 | - | |
Other | 152 | 19 | |
Total non-operating expenses | 610 | 112 | |
Ordinary profit | 14,769 | 5,159 |
- 5 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
The Sumitomo Warehouse Co. Ltd. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 07:39:00 UTC.