April 14, 2023
Consolidated Financial Results for the Nine Months Ended February 28, 2023
(Under Japanese GAAP)
Company name: | Toyo Denki Seizo K.K. |
Listing: | Tokyo Stock Exchange |
Securities code: | 6505 |
URL | https://www.toyodenki.co.jp |
Representative: | Akira Watanabe, Representative Director, President |
Inquiries: | Jun Nukina, Operating Officer, General Manager, Management Planning Division |
Telephone: | +81-3-5202-8122 |
Scheduled date to file quarterly securities report: | April 14, 2023 |
Scheduled date to commence dividend payments: | ― |
Preparation of supplementary material on quarterly financial results: | Yes |
Holding of quarterly financial results briefing: | Yes |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the nine months ended February 28, 2023 (from June 1, 2022 to February 28, 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 | % | ||||||
Nine months ended | 20,744 | (4.6) | 89 | - | 488 | 791.7 | 432 | 47.5 | |||||
February 28, 2023 | |||||||||||||
February 28, 2022 | 21,744 | (9.8) | (349) | - | 54 | (83.2) | 293 | (29.5) | |||||
Note: Comprehensive income | For the nine months ended February 28, 2023: ¥908 million [-%] | ||||||||||||
For the nine months ended February 28, 2022:¥(559) million [-%] | |||||||||||||
Basic earnings per share | Diluted earnings per share | ||||||||||||
Yen | Yen | ||||||||||||
Nine months ended | 48.40 | - | |||||||||||
February 28, 2023 | |||||||||||||
February 28, 2022 | 32.80 | - | |||||||||||
(2) Consolidated financial position | |||||||||||||
Total assets | Net assets | Equity-to-asset ratio | |||||||||||
Millions of yen | Millions of yen | % | |||||||||||
As of | 47,925 | 22,652 | 47.3 | ||||||||||
February 28, 2023 | |||||||||||||
May 31, 2022 | 46,916 | 22,012 | 46.9 | ||||||||||
Reference: Equity | As of February 28, 2023:¥22,652 million | ||||||||||||
As of May 31, 2022:¥22,012 million |
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 | - | 0.00 | - | 30.00 | 30.00 | |
May 31, 2022 | ||||||
Fiscal year ending | - | 0.00 | ||||
May 31, 2023 | ||||||
Fiscal year ending | ||||||
May 31, 2023 | - | 30.00 | 30.00 | |||
(Forecast) | ||||||
Note: Revisions to the forecast of cash dividends most recently announced: None
3. Consolidated financial results forecast for the fiscal year ending May 31, 2023 (from June 1, 2022 to May 31, 2023)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings per | |||||||
owners of parent | share | ||||||||||
Millions | % | Millions | % | Millions | % | Millions | % | Yen | |||
of yen | of yen | of yen | of yen | ||||||||
Fiscal year ending | 34,000 | 12.7 | 450 | 161.8 | 700 | (8.6) | 800 | - | 89.48 | ||
May 31, 2023 | |||||||||||
Note: Revisions to the financial results forecast most recently announced: None |
* Notes | |||||
(1) | Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope | ||||
of consolidation): | None | ||||
Newly included: | - companies (Company name) | ||||
Excluded: | - companies (Company name) | ||||
Notes on changes in significant subsidiaries during the period | |||||
(2) | Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements | : | |||
None | |||||
Notes on adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements | |||||
(3) | Changes in accounting policies, changes in accounting estimates, and restatement | ||||
(i) Changes in accounting policies due to revisions to accounting standards and other regulations | : None | ||||
(ii) Changes in accounting policies due to other reasons | : None |
- Changes in accounting estimates : None
- Restatement : None
Notes on changes in accounting policies
(4) Number of issued shares (common shares)
(i) Total number of issued shares at the end of the period (including treasury shares)
As of February 28, 2023 | 9,735,000 |
As of May 31, 2022 | 9,735,000 |
(ii) Number of treasury shares at the end of the period
As of February 28, 2023
As of May 31, 2022
795,188
794,608
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended February 28, 2023
Nine months ended February 28, 2022
8,940,105
8,940,650
Notes on number of issued shares
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Proper use of earnings forecasts, and other special matters
The above forecasts are based on information available as of the date of publication of this document, and actual results may differ from the forecasts due to various factors in the future. Please refer to "Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the Attachment for details of the financial results forecast (available in Japanese only). - This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Toyo Denki Seizo K.K. (6505) Financial Results for the Nine Months Ended February 28, 2023
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto
(1) Quarterly Consolidated Balance Sheet
(Millions of yen) | ||||
As of May 31, 2022 | As of February 28, 2023 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 4,449 | 4,033 | ||
Notes and accounts receivable - trade, and contract | 12,091 | 12,318 | ||
assets | ||||
Electronically recorded monetary claims - operating | 1,136 | 986 | ||
Merchandise and finished goods | 501 | 636 | ||
Work in process | 3,077 | 4,487 | ||
Raw materials and supplies | 2,688 | 2,769 | ||
Advance payments to suppliers | 8 | 23 | ||
Accounts receivable | 25 | 200 | ||
Other | 212 | 534 | ||
Allowance for doubtful accounts | (1) | (1) | ||
Total current assets | 24,189 | 25,989 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures | 10,326 | 9,953 | ||
Accumulated depreciation | (6,341) | (6,273) | ||
Buildings and structures, net | 3,985 | 3,680 | ||
Machinery, equipment and vehicles | 8,185 | 8,201 | ||
Accumulated depreciation | (7,605) | (7,791) | ||
Machinery, equipment and vehicles, net | 579 | 410 | ||
Land | 1,270 | 1,269 | ||
Construction in progress | 7 | 7 | ||
Other | 4,977 | 5,058 | ||
Accumulated depreciation | (4,497) | (4,597) | ||
Other, net | 479 | 460 | ||
Total property, plant and equipment | 6,322 | 5,828 | ||
Intangible assets | ||||
Software | 87 | 74 | ||
Other | 14 | 13 | ||
Total intangible assets | 101 | 87 | ||
Investments and other assets | ||||
Investment securities | 12,471 | 12,634 | ||
Deferred tax assets | 883 | 587 | ||
Other | 2,953 | 2,804 | ||
Allowance for doubtful accounts | (6) | (7) | ||
Total investments and other assets | 16,302 | 16,018 | ||
Total non-current assets | 22,726 | 21,935 | ||
Total assets | 46,916 | 47,925 |
Toyo Denki Seizo K.K. (6505) Financial Results for the Nine Months Ended February 28, 2023
(Millions of yen)
As of May 31, 2022 | As of February 28, 2023 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 1,610 | 2,103 | ||
Electronically recorded obligations - operating | 4,205 | 4,299 | ||
Short-term borrowings | 585 | 1,585 | ||
Accrued expenses | 688 | 865 | ||
Income taxes payable | 306 | 24 | ||
Accrued consumption taxes | 82 | 32 | ||
Contract liabilities | 47 | 105 | ||
Deposits received | 190 | 190 | ||
Provision for bonuses for directors (and other officers) | 6 | 4 | ||
Provision for bonuses | 699 | 344 | ||
Provision for loss on orders received | 970 | 818 | ||
Other | 176 | 100 | ||
Total current liabilities | 9,569 | 10,472 | ||
Non-current liabilities | ||||
Long-term borrowings | 11,173 | 10,677 | ||
Long-term accounts payable - other | 38 | 30 | ||
Retirement benefit liability | 4,113 | 4,087 | ||
Other | 6 | 4 | ||
Total non-current liabilities | 15,333 | 14,800 | ||
Total liabilities | 24,903 | 25,272 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 4,998 | 4,998 | ||
Capital surplus | 3,177 | 3,177 | ||
Retained earnings | 11,122 | 11,286 | ||
Treasury shares | (1,282) | (1,282) | ||
Total shareholders' equity | 18,016 | 18,180 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 3,913 | 4,210 | ||
Foreign currency translation adjustment | 144 | 304 | ||
Remeasurements of defined benefit plans | (61) | (43) | ||
Total accumulated other comprehensive income | 3,996 | 4,472 | ||
Total net assets | 22,012 | 22,652 | ||
Total liabilities and net assets | 46,916 | 47,925 | ||
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Disclaimer
TOYO Electric Mfg. Co. Ltd. published this content on 14 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2023 00:07:08 UTC.