Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Summary of Consolidated Financial Results for the Six Months Ended September 30, 2021 [Japanese GAAP]
Company name: TOA CORPORATION | November 11, 2021 |
Stock exchange listing: Tokyo,Sapporo | |
Code number: 1885 | |
URL: https://www.toa-const.co.jp/eng/ | |
Representative: Masaki Akiyama | President and Chief Executive Officer |
Contact: Tetsuya Kimura | General Manager, Administration Dept., Administration General H/Q |
Phone: +81-3-6757-3821
Scheduled date of filing quarterly securities report: November 12, 2021
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes
(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Six Months Ended September 30, 2021 (April 01, 2021 to September 30, 2021)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||
September 30, 2021 | 105,818 | 28.0 | 5,056 | 53.5 | 5,073 | 34.7 | 3,536 | 44.7 | ||
September 30, 2020 | 82,639 | (1.5) | 3,294 | (6.2) | 3,765 | 14.8 | 2,443 | 22.0 |
(Note) Comprehensive income: | Six months ended September 30, 2021: |
Six months ended September 30, 2020: |
¥ | 3,620 million | [ | 20.7%] |
¥ | 3,000 million | [ | 28.2%] |
Basic earnings | Diluted earnings per | |
per share | share | |
Six months ended | Yen | Yen |
September 30, 2021 | 187.38 | 155.93 |
September 30, 2020 | 124.63 | 104.66 |
(2) Consolidated Financial Position | ||||||||||||
Total assets | Net assets | Capital adequacy ratio | ||||||||||
As of | Million yen | Million yen | % | |||||||||
September 30, 2021 | 200,543 | 77,507 | 38.3 | |||||||||
March 31, 2021 | 204,200 | 76,175 | 36.9 | |||||||||
(Reference) Equity: As of | September 30, 2021: | ¥ | 76,786 million | |||||||||
As of | March 31, 2021: | ¥ | 75,446 million | |||||||||
2. Dividends | ||||||||||||
Annual dividends | ||||||||||||
1st | 2nd | 3rd | Year-end | Total | ||||||||
quarter-end | quarter-end | quarter-end | ||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||
Fiscal year ended March 31, 2021 | - | - | - | 80.00 | 80.00 | |||||||
Fiscal year ending March 31, 2022 | - | - | ||||||||||
Fiscal year ending March 31, 2022 | - | 80.00 | 80.00 | |||||||||
(Forecast) | ||||||||||||
(Note) Revision to the forecast for dividends announced most recently: | No |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||||
owners of parent | per share | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |||
Full year | 223,000 | 17.5 | 9,000 | 3.3 | 8,700 | (5.9) | 6,000 | (12.5) | 318.58 | ||
(Note) Revision to the financial results forecast announced most recently: | No | ||||||||||
* Explanatory Notes: | |||||||||||
(1) Changes in significant subsidiaries during the six months ended September 30, 2021 | |||||||||||
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | ||||||||||
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | No |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: Yes
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
September 30, 2021: | 22,494,629 | shares |
March 31, 2021: | 22,494,629 | shares |
2) Total number of treasury shares at the end of the period: | ||
September 30, 2021: | 3,698,835 | shares |
March 31, 2021: | 3,375,462 | shares |
3) Average number of shares during the period: | ||
Six months ended September 30, 2021: | 18,871,290 | shares |
Six months ended September 30, 2020: | 19,605,499 | shares |
(Note) Both the number of treasury stock at the end of the period and the number of treasury stock excluded for calculating the
average number of shares during the period include the company's shares held by the Board Benefit Trust (BBT).
- This document is not subject to quarterly review procedures by certified public accountants or audit firms.
- Disclaimer regarding appropriate use of the forecasts and other specific remarks:
The forecasts given above are based on information currently available and certain premises regarded as reasonable. The actual
business results may be materially different from forecasts due to a variety of factors.
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Million yen) | |||||
As of March 31,2021 | As of September 30,2021 | ||||
Assets | |||||
Current assets | |||||
Cash and deposits | 32,331 | 34,401 | |||
Notes receivable, accounts receivable from | 87,702 | 91,963 | |||
completed construction contracts and other | |||||
Costs on construction contracts in progress | 5,197 | 4,195 | |||
Real estate for sale | 1,843 | 1,679 | |||
Advances paid | 15,285 | 8,723 | |||
Other | 9,535 | 7,902 | |||
Allowance for doubtful accounts | (275) | (7) | |||
Total current assets | 151,619 | 148,857 | |||
Non-current assets | |||||
Property, plant and equipment | |||||
Buildings and structures, net | 4,767 | 4,737 | |||
Machinery, vehicles, tools, furniture and | 2,436 | 3,374 | |||
fixtures, net | |||||
Land | 19,050 | 19,185 | |||
Other | 8,490 | 7,361 | |||
Total property, plant and equipment | 34,745 | 34,658 | |||
Intangible assets | 1,050 | 1,020 | |||
Investments and other assets | |||||
Investment securities | 11,324 | 11,328 | |||
Other | 6,007 | 5,222 | |||
Allowance for doubtful accounts | (546) | (545) | |||
Total investments and other assets | 16,785 | 16,006 | |||
Total non-current assets | 52,580 | 51,685 | |||
Total assets | 204,200 | 200,543 |
― 1 ―
(Million yen) | ||||
As of March 31,2021 | As of September 30,2021 | |||
Liabilities | ||||
Current liabilities | ||||
Notes payable, accounts payable for construction | 32,005 | 29,492 | ||
contracts and other | ||||
Electronically recorded obligations - operating | 11,929 | 10,868 | ||
Short-term borrowings | 9,865 | 9,214 | ||
Income taxes payable | 2,226 | 1,559 | ||
Advances received on construction contracts in | 13,176 | 19,274 | ||
progress | ||||
Deposits received | 23,546 | 21,688 | ||
Provision for warranties for completed | 941 | 936 | ||
construction | ||||
Provision for loss on construction contracts | 1,705 | 1,872 | ||
Provision for loss on construction defect | 192 | - | ||
Other | 5,325 | 4,261 | ||
Total current liabilities | 100,914 | 99,167 | ||
Non-current liabilities | ||||
Convertible-bond-type bonds with share | 6,990 | 6,990 | ||
acquisition rights | ||||
Long-term borrowings | 11,885 | 9,366 | ||
Deferred tax liabilities for land revaluation | 2,320 | 2,320 | ||
Retirement benefit liability | 2,504 | 1,991 | ||
Provision for share awards for directors (and other | 72 | 80 | ||
officers) | ||||
Other | 3,337 | 3,119 | ||
Total non-current liabilities | 27,111 | 23,868 | ||
Total liabilities | 128,025 | 123,036 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 18,976 | 18,976 | ||
Capital surplus | 18,124 | 18,124 | ||
Retained earnings | 37,647 | 39,694 | ||
Treasury shares | (5,247) | (6,046) | ||
Total shareholders' equity | 69,500 | 70,748 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale | 2,700 | 2,688 | ||
securities | ||||
Deferred gains or losses on hedges | (8) | (7) | ||
Revaluation reserve for land | 3,659 | 3,659 | ||
Remeasurements of defined benefit plans | (405) | (302) | ||
Total accumulated other comprehensive income | 5,945 | 6,038 | ||
Non-controlling interests | 728 | 720 | ||
Total net assets | 76,175 | 77,507 | ||
Total liabilities and net assets | 204,200 | 200,543 |
― 2 ―
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)
(Million yen) | ||
For the six months | For the six months | |
ended September 30,2020 | ended September 30,2021 | |
Net sales | 82,639 | 105,818 |
Cost of sales | 74,159 | 95,327 |
Gross profit | 8,480 | 10,490 |
Selling, general and administrative expenses | 5,186 | 5,433 |
Operating profit | 3,294 | 5,056 |
Non-operating income | ||
Interest income | 11 | 12 |
Dividend income | 214 | 158 |
Other | 538 | 77 |
Total non-operating income | 764 | 248 |
Non-operating expenses | ||
Interest expenses | 135 | 104 |
Guarantee fee | 91 | 88 |
Other | 66 | 38 |
Total non-operating expenses | 293 | 232 |
Ordinary profit | 3,765 | 5,073 |
Extraordinary income | ||
Gain on sale of non-current assets | 0 | 8 |
Other | 23 | 2 |
Total extraordinary income | 23 | 11 |
Extraordinary losses | ||
Loss on sale of non-current assets | 2 | - |
Impairment losses | - | 22 |
Other | 21 | 4 |
Total extraordinary losses | 24 | 26 |
Profit before income taxes | 3,764 | 5,058 |
Income taxes - current | 479 | 836 |
Income taxes - deferred | 808 | 694 |
Total income taxes | 1,287 | 1,530 |
Profit | 2,476 | 3,527 |
Profit (loss) attributable to non-controlling interests | 33 | (8) |
Profit attributable to owners of parent | 2,443 | 3,536 |
― 3 ―
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Toa Corporation published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 07:16:10 UTC.