Translation
February 3, 2022
Consolidated Financial Results
for the First Nine Months of the Fiscal Year Ending March 31, 2022
Company name: | USHIO INC. |
Listing: | First Section of the Tokyo Stock Exchange |
Stock code: | 6925 |
URL: | https://www.ushio.co.jp/en |
Representative: | Koji Naito, President and Chief Executive Officer |
Inquiries: | Hideaki Takizawa, General Manager, Accounting & Finance Department |
TEL: +81-3-5657-1000 (from overseas) |
Scheduled date to file Quarterly Securities Report: | February 14, 2022 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on earnings: | Yes |
Holding of earnings performance review: | Yes (for analysts) |
(Millions of yen with fractional amounts discarded, unless otherwise noted) |
1. Consolidated performance for the first nine months of the fiscal year ending March 31, 2022 (from April 1, 2021 to December 31, 2021)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | ||||||||||
Net sales | Operating income | Ordinary income | Profit attributable to | ||||||||
owners of parent | |||||||||||
First nine months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
December 31, 2021 | 109,714 | 33.1 | 10,807 | ― | 12,562 | 641.5 | 10,187 | ― | |||
December 31, 2020 | 82,431 | (31.3) | (409) | ― | 1,694 | (79.9) | (1,047) | ― | |||
(Note) | Comprehensive income | ||||||||||
For the first nine months ended December 31, 2021: ¥ | 17,135 million [829.1%] | ||||||||||
For the first nine months ended December 31, 2020: ¥ | 1,844 million [(79.8%)] | ||||||||||
Net income per share | Diluted net | ||||||||||
income per share | |||||||||||
First nine months ended | Yen | Yen | |||||||||
December 31, 2021 | 84.48 | - | |||||||||
December 31, 2020 | (8.69) | - | |||||||||
- Consolidated financial position
Total assets | Net assets | Equity ratio | ||||||
As of | Millions of yen | Millions of yen | % | |||||
December 31, 2021 | 304,744 | 225,150 | 73.9 | |||||
March 31, 2021 | 290,275 | 211,180 | 72.7 | |||||
(Reference) Equity |
As of December 31, 2021: | ¥ 225,071 million |
As of March 31, 2021 : | ¥ 211,102 million |
2. Cash dividends
Annual dividends | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||
Yen | Yen | Yen | Yen | Yen | ||
Fiscal year ended | ― | ― | ― | 26.00 | 26.00 | |
March 31, 2021 | ||||||
Fiscal year ending | ||||||
― | ― | ― | ||||
March 31, 2022 | ||||||
Fiscal year ending | ||||||
March 31, 2022 | 50.00 | 50.00 | ||||
(Forecast) | ||||||
(Note) | Revisions to the forecasts of cash dividends most recently announced: Yes |
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
(Percentages indicate year-on-year changes.)
Net sales | Operating income | Ordinary income | Net income | Net income | |||||||||||
per share | |||||||||||||||
Millions of | Millions of | Millions of | Millions of | ||||||||||||
yen | % | yen | % | yen | % | yen | % | Yen | |||||||
Fiscal year ending | 150,000 | 26.5 | 12,500 | ― | 14,000 | 310.9 | 11,000 | ― | 91.22 | ||||||
March 31, 2022 | |||||||||||||||
(Note) Revisions to the consolidated earnings forecasts most recently announced: Yes |
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in the scope of consolidation): None
- Application of a specific accounting procedure for preparing quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatements
- Changes in accounting policies due to revisions to accounting standards: Yes
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: Yes
- Restatements: None
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021 | 127,000,000 shares | |
As of March 31, 2021 | 127,000,000 shares | |
b. Number of shares of treasury shares at the end of the period | ||
As of December 31, 2021 | 6,409,173 shares | |
As of March 31, 2021 | 6,424,307 shares | |
c. Average number of outstanding shares during the period | ||
As of December 31, 2021 | 120,585,588 shares | |
As of December 31, 2020 | 120,543,965 shares |
(Note) The Company's shares held in trust introduced with respect to its stock remuneration plan for directors as treasury shares within shareholders' equity are included in the number of treasury shares.
- This Consolidated Financial Review is not subject to audit procedures by Certified Public Accountants or audit firm.
-
Notes on the proper use of earnings forecasts and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual business and other results may differ substantially due to various factors.
*To obtain Financial Presentation
The Financial Presentation will be posted on the website of USHIO INC. on February 3rd, 2022.
Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 73,670 | 83,513 | |
Notes and accounts receivable - trade | 34,024 | - | |
Notes and accounts receivable - trade, and | - | 33,013 | |
contract assets | |||
Securities | 2,915 | 4,979 | |
Merchandise and finished goods | 22,885 | 24,437 | |
Work in process | 17,884 | 20,006 | |
Raw materials and supplies | 17,110 | 17,754 | |
Other | 10,585 | 9,212 | |
Allowance for doubtful accounts | △2,716 | △2,465 | |
Total current assets | 176,359 | 190,451 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 44,919 | 45,629 | |
Accumulated depreciation | △27,943 | △29,126 | |
Buildings and structures, net | 16,975 | 16,502 | |
Machinery, equipment and vehicles | 26,314 | 26,468 | |
Accumulated depreciation | △19,006 | △19,603 | |
Machinery, equipment and vehicles, net | 7,307 | 6,865 | |
Land | 8,650 | 8,492 | |
Construction in progress | 2,268 | 3,100 | |
Other | 38,114 | 39,937 | |
Accumulated depreciation | △28,494 | △30,492 | |
Other, net | 9,620 | 9,444 | |
Total property, plant and equipment | 44,822 | 44,404 | |
Intangible assets | |||
Goodwill | 335 | 271 | |
Other | 3,075 | 2,727 | |
Total intangible assets | 3,411 | 2,999 | |
Investments and other assets | |||
Investment securities | 56,364 | 57,768 | |
Long-term loans receivable | 517 | 21 | |
Deferred tax assets | 1,994 | 2,286 | |
Retirement benefit asset | 5,391 | 5,474 | |
Other | 1,950 | 1,891 | |
Allowance for doubtful accounts | △535 | △552 | |
Total investments and other assets | 65,682 | 66,889 | |
Total non-current assets | 113,915 | 114,293 | |
Total assets | 290,275 | 304,744 |
- 1 -
(Millions of yen) | |||||
As of March 31, 2021 | As of December 31, 2021 | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable - trade | 16,356 | 21,239 | |||
Short-term borrowings | 6,058 | 2,474 | |||
Current portion of long-term borrowings | 3,520 | 15,552 | |||
Income taxes payable | 1,056 | 2,245 | |||
Provision for bonuses | 2,021 | 1,223 | |||
Provision for product warranties | 2,355 | 2,379 | |||
Provision for loss on order received | 0 | - | |||
Other | 16,639 | 17,678 | |||
Total current liabilities | 48,007 | 62,794 | |||
Non-current liabilities | |||||
Long-term borrowings | 15,056 | - | |||
Deferred tax liabilities | 7,005 | 8,043 | |||
Provision for retirement benefits for directors | 286 | 255 | |||
(and other officers) | |||||
Provision for share awards for directors (and | 87 | 112 | |||
other officers) | |||||
Retirement benefit liability | 4,098 | 4,250 | |||
Asset retirement obligations | 272 | 289 | |||
Other | 4,280 | 3,849 | |||
Total non-current liabilities | 31,087 | 16,800 | |||
Total liabilities | 79,094 | 79,594 | |||
Net assets | |||||
Shareholders' equity | |||||
Share capital | 19,556 | 19,556 | |||
Capital surplus | 27,727 | 27,727 | |||
Retained earnings | 152,448 | 159,458 | |||
Treasury shares | △9,055 | △9,031 | |||
Total shareholders' equity | 190,676 | 197,711 | |||
Accumulated other comprehensive income | |||||
Valuation difference | on | available-for-sale | 18,280 | 20,782 | |
securities | |||||
Deferred gains or losses on hedges | △3 | - | |||
Foreign currency translation adjustment | 3,582 | 7,489 | |||
Remeasurements of defined benefit plans | △1,433 | △911 | |||
Total accumulated | other | comprehensive | 20,426 | 27,360 | |
income | |||||
Non-controlling interests | 77 | 78 | |||
Total net assets | 211,180 | 225,150 | |||
Total liabilities and net assets | 290,275 | 304,744 |
- 2 -
Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (Consolidated Statements of Income)
(Millions of yen) | ||
Nine months ended | Nine months ended | |
December 31, 2020 | December 31, 2021 | |
Net sales | 82,431 | 109,714 |
Cost of sales | 53,994 | 69,099 |
Gross profit | 28,436 | 40,615 |
Selling, general and administrative expenses | 28,845 | 29,807 |
Operating profit (loss) | △409 | 10,807 |
Non-operating income | ||
Interest income | 790 | 471 |
Dividend income | 882 | 913 |
Foreign exchange gains | - | 82 |
Realized and unrealized profit on trading | 60 | 119 |
securities,net | ||
Gain on investments in investment partnerships | 167 | - |
Gain on specified money in trust | 239 | - |
Subsidies for employment adjustment | 1,178 | 434 |
Other | 358 | 298 |
Total non-operating income | 3,676 | 2,320 |
Non-operating expenses | ||
Interest expenses | 350 | 244 |
Foreign exchange losses | 1,024 | - |
Share of loss of entities accounted for using equity | 63 | 76 |
method | ||
Settlement package | - | 119 |
Other | 134 | 123 |
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets Gain on sale of investment securities
Total extraordinary income
1,572 | 565 |
1,694 | 12,562 |
9 | 1,142 |
277 | 17 |
286 | 1,160 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 68 | 49 |
Loss on sale of non-current assets | 27 | 11 |
Impairment losses | 93 | 91 |
Loss on valuation of investment securities | 81 | 1 |
Loss on sale of investment securities | 32 | 15 |
Business restructuring expenses | 943 | 118 |
Loss on temporary closure | 1,109 | 151 |
Total extraordinary losses | 2,355 | 438 |
Profit (loss) before income taxes | △374 | 13,284 |
Income taxes - current | 620 | 3,353 |
Income taxes - deferred | 62 | △268 |
Total income taxes | 683 | 3,085 |
Profit (loss) | △1,058 | 10,199 |
Profit (loss) attributable to non-controlling interests | △10 | 11 |
Profit (loss) attributable to owners of parent | △1,047 | 10,187 |
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Ushio Inc. published this content on 03 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2022 06:58:05 UTC.