TIDMMAW
RNS Number : 5363J
Maruwa Co Ld
27 April 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 Year Ended March 31, 2022
(Based on Japanese GAAP)
April 27, 2022
Company name: MARUWA CO., LTD.
Stock exchange Tokyo, Nagoya
listing:
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: Chairman Sei Kanbe
Inquiries: Planning Office Manager Yukiko Morishita TEL 0561-51-0841
Scheduled date of ordinary general June 23, 2022
meeting of shareholders:
Scheduled date to file Securities June 24, 2022
Report:
Scheduled date to commence dividend June 24, 2022
payments:
Preparation of supplementary material Yes
on financial results:
Holding of financial results meeting: Yes (for institutional investors and
analysts)
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the year ended March 31,
2022 (from April 1, 2021 to March 31, 2022)
(1) Consolidated operating results Percentages indicate year-on-year changes
Net sales Operating profit Ordinary profit Profit attributable
to owners of
parent
Millions % Millions % Millions % Millions %
of yen of yen of yen of yen
Year ended March 31,
2022 54,344 31.1 18,215 77.7 19,182 85.7 13,350 92.5
Year ended March 31,
2021 41,438 0.5 10,248 9.7 10,330 8.5 6,935 17.7
-------- ---- ----------- ----- ---------- ----- ------------- ------
Earnings per Diluted earnings Profit attributable Ordinary profit/total Operating
share per share to owners assets profit/net
of parent/equity sales
---------------- ------------------- ---------------------
Yen Yen % % %
Year ended March 31,
2022 1,082.11 - 18.3 22.1 33.5
Year ended March 31,
2021 562.30 - 11.0 13.9 24.7
------------ ---------------- ------------------- --------------------- -----------
(2) Consolidated financial position
Total assets Net assets Equity ratio Net assets per
share
Millions of Millions of % Yen
yen yen
As of March 31, 2022 95,899 79,681 83.1 6,458.45
As of March 31, 2021 78,059 66,344 85.0 5,378.23
------------ ----------- ------------ --------------
(3) Consolidated cash flows
Cash flows from Cash flows from Cash flows from Cash and cash
operating activities investing activities financing activities equivalents
at end of period
Millions of Millions of Millions of Millions of
yen yen yen yen
Year ended March 31,
2022 14,757 (3,522) (1,132) 44,385
Year ended March 31,
2021 10,713 (5,376) (801) 33,888
---------------------- ---------------------- ---------------------- ------------------
2. Cash dividends
Annual dividends per share Total Dividend Ratio
cash payout of dividends
dividends ratio to net
(Total) (Consolidated) assets
(Consolidated)
1st 2nd 3rd Fiscal Total
quarter-end quarter-end quarter-end year-end
-----------
Yen Yen Yen Yen Yen Millions % %
of yen
Year ended March
31,
2021 - 28.00 - 36.00 64.00 789 11.4 1.3
Year ended March
31,
2022 - 34.00 - 36.00 70.00 863 6.5 1.2
----------- ----------- ----------- -------- ----- --------- -------------- --------------
Year ending March
31, 2023 - 38.00 - 38.00 76.00 7.3
(Forecast)
----------- ----------- ----------- -------- ----- --------- -------------- --------------
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 Earnings
to owners of per share
parent
Millions % Millions % Millions % Millions % Yen
of yen of yen of yen of yen
Six months ending
September 30,
2022 27,000 9.2 8,100 2.2 8,100 (0.2) 5,500 (1.2) 445.79
Full year 60,000 10.4 18,500 1.6 18,500 (3.6) 12,900 (3.4) 1,045.59
-------- ---- ------------ ---- ---------- ----- ------------ ------- ----------
4. Notes
(1) Changes in significant subsidiaries during the year No
ended March 31, 2022
(changes in specified subsidiaries resulting in the
change in scope of consolidation):
(2) Changes in accounting policies, changes in accounting
estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to Yes
accounting standards and other regulations:
Changes in accounting policies due to other reasons: No
Changes in accounting estimates: No
Restatement of prior period financial statements: No
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period
(including treasury shares)
As of March 31, 2022 12,372,000 shares As of March 31, 2021 12,372,000 shares
---------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of March 31, 2022 34,492 shares As of March 31, 2021 36,327 shares
---------------------- ------ --------------------- ------
Average number of shares during the period
Year ended March 31, Year ended March 31,
2022 12,337,379 shares 2021 12,333,994 shares
---------------------- ---------- --------------------- ----------
Consolidated financial statements
Consolidated balance sheets
(Millions of yen)
------------------------------------------------------ --------------- -----------------
As of March 31, As of March 31,
2021 2022
------------------------------------------------------ --------------- -----------------
Assets
Current assets
Cash and deposits 34,088 44,621
Notes and accounts receivable - trade 9,834 -
Notes receivable - trade - 473
Accounts receivable - trade - 12,876
Electronically recorded monetary
claims - operating 1,267 1,810
Merchandise and finished goods 1,641 1,632
Work in process 2,277 2,648
Raw materials and supplies 2,463 3,706
Other 2,148 2,389
Allowance for doubtful accounts (8) (9)
Total current assets 53,714 70,149
--------------- -----------------
Non-current assets
Property, plant and equipment
Buildings and structures 17,012 17,717
Accumulated depreciation (6,967) (7,615)
Buildings and structures, net 10,044 10,101
--------------- -----------------
Machinery, equipment and vehicles 22,354 24,771
Accumulated depreciation (17,149) (19,292)
Machinery, equipment and vehicles,
net 5,204 5,478
--------------- -----------------
Land 4,544 4,699
Construction in progress 1,889 2,653
Other 3,887 4,256
Accumulated depreciation (3,238) (3,666)
Other, net 648 590
--------------- -----------------
Total property, plant and equipment 22,332 23,524
--------------- -----------------
Intangible assets
Other 260 298
Total intangible assets 260 298
--------------- -----------------
Investments and other assets
Investment securities 248 230
Deferred tax assets 440 637
Investment property, net 963 948
Other 104 111
Allowance for doubtful accounts (4) (0)
Total investments and other assets 1,752 1,927
--------------- -----------------
Total non-current assets 24,345 25,750
--------------- -----------------
Total assets 78,059 95,899
--------------- -----------------
(Millions of yen)
------------------------------------------------------ --------------- -----------------
As of March 31, As of March 31,
2021 2022
------------------------------------------------------ --------------- -----------------
Liabilities
Current liabilities
Notes and accounts payable - trade 2,404 3,444
Electronically recorded obligations
- operating 1,931 2,419
Short-term borrowings 100 100
Current portion of long-term borrowings 266 866
Income taxes payable 1,986 4,731
Provision for bonuses 699 866
Provision for bonuses for directors
(and other officers) 49 71
Other 2,172 2,455
Total current liabilities 9,612 14,953
--------------- -----------------
Non-current liabilities
Long-term borrowings 1,599 733
Deferred tax liabilities 160 153
Other 342 377
Total non-current liabilities 2,103 1,264
--------------- -----------------
Total liabilities 11,715 16,218
--------------- -----------------
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,005 12,017
Retained earnings 46,796 59,274
Treasury shares (217) (207)
Total shareholders' equity 67,231 79,732
--------------- -----------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 119 104
Foreign currency translation adjustment (1,006) (155)
Total accumulated other comprehensive
income (886) (51)
--------------- -----------------
Total net assets 66,344 79,681
--------------- -----------------
Total liabilities and net assets 78,059 95,899
--------------- -----------------
Consolidated statements of income and consolidated statements of
comprehensive income
Consolidated statements of income
(Millions of yen)
------------------------------------------------- ----------------- -----------------
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
------------------------------------------------- ----------------- -----------------
Net sales 41,438 54,344
Cost of sales 23,074 27,018
Gross profit 18,363 27,326
----------------- -----------------
Selling, general and administrative
expenses 8,114 9,110
Operating profit 10,248 18,215
----------------- -----------------
Non-operating income
Interest income 51 58
Rental income 88 95
Foreign exchange gains - 810
Other 57 66
Total non-operating income 197 1,029
----------------- -----------------
Non-operating expenses
Interest expenses 6 7
Foreign exchange losses 50 -
Rent expenses on real estate for
investments 46 44
Other 11 11
Total non-operating expenses 115 63
----------------- -----------------
Ordinary profit 10,330 19,182
----------------- -----------------
Extraordinary income
Gain on sale of non-current assets 2 3
Gain on sale of investment securities 65 9
Gain on liquidation of subsidiaries 11 -
Subsidy income - 481
Compensation income - 186
----------------- -----------------
Total extraordinary income 79 680
----------------- -----------------
Extraordinary losses
Loss on sale and retirement of non-current
assets 258 16
Loss on tax purpose reduction entry
of non-current assets - 463
Impairment losses 169 -
Loss related to infectious disease 68 41
Other 28 8
Total extraordinary losses 525 531
----------------- -----------------
Profit before income taxes 9,884 19,331
----------------- -----------------
Income taxes - current 2,905 6,208
Income taxes - deferred 43 (227)
Total income taxes 2,948 5,980
----------------- -----------------
Profit 6,935 13,350
----------------- -----------------
Profit attributable to owners of
parent 6,935 13,350
----------------- -----------------
Consolidated statements of comprehensive income
(Millions of yen)
------------------------------------------------- ----------------- -----------------
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
------------------------------------------------- ----------------- -----------------
Profit 6,935 13,350
Other comprehensive income
Valuation difference on available-for-sale
securities 49 (15)
Foreign currency translation adjustment 536 851
Total other comprehensive income 585 835
----------------- -----------------
Comprehensive income 7,521 14,186
----------------- -----------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 7,521 14,186
Consolidated statements of changes in equity
Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders' equity
Share capital Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of period 8,646 11,992 40,526 (239) 60,926
------------- --------------- --------- -------- -------------------
Changes during
period
------------- --------------- --------- -------- -------------------
Dividends of surplus (665) (665)
------------- --------------- --------- -------- -------------------
Profit attributable
to owners of parent 6,935 6,935
------------- --------------- --------- -------- -------------------
Purchase of treasury
shares (2) (2)
------------- --------------- --------- -------- -------------------
Disposal of treasury
shares 13 24 37
------------- --------------- --------- -------- -------------------
Net changes in
items other than
shareholders'
equity
------------- --------------- --------- -------- -------------------
Total changes
during period - 13 6,269 21 6,304
------------- --------------- --------- -------- -------------------
Balance at end
of period 8,646 12,005 46,796 (217) 67,231
------------- --------------- --------- -------- -------------------
Accumulated other comprehensive Total net
income assets
Valuation Foreign currency Total accumulated
difference translation other comprehensive
on available-for-sale adjustment income
securities
----------------------
Balance at beginning
of period 70 (1,543) (1,472) 59,453
---------------------- ---------------- -------------------- ---------
Changes during
period
---------------------- ---------------- -------------------- ---------
Dividends of surplus (665)
---------------------- ---------------- -------------------- ---------
Profit attributable
to owners of parent 6,935
---------------------- ---------------- -------------------- ---------
Purchase of treasury
shares (2)
---------------------- ---------------- -------------------- ---------
Disposal of treasury
shares 37
---------------------- ---------------- -------------------- ---------
Net changes in
items other than
shareholders'
equity 49 536 585 585
---------------------- ---------------- -------------------- ---------
Total changes
during period 49 536 585 6,890
---------------------- ---------------- -------------------- ---------
Balance at end
of period 119 (1,006) (886) 66,344
---------------------- ---------------- -------------------- ---------
Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity
Share capital Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of period 8,646 12,005 46,796 (217) 67,231
------------- --------------- --------- -------- -------------------
Cumulative effects
of changes in
accounting policies (8) (8)
------------- --------------- --------- -------- -------------------
Restated balance 8,646 12,005 46,787 (217) 67,222
------------- --------------- --------- -------- -------------------
Changes during
period
------------- --------------- --------- -------- -------------------
Dividends of surplus (863) (863)
------------- --------------- --------- -------- -------------------
Profit attributable
to owners of parent 13,350 13,350
------------- --------------- --------- -------- -------------------
Purchase of treasury
shares (2) (2)
------------- --------------- --------- -------- -------------------
Disposal of treasury
shares 12 12 24
------------- --------------- --------- -------- -------------------
Net changes in
items other than
shareholders'
equity
------------- --------------- --------- -------- -------------------
Total changes
during period - 12 12,486 10 12,509
------------- --------------- --------- -------- -------------------
Balance at end
of period 8,646 12,017 59,274 (207) 79,732
------------- --------------- --------- -------- -------------------
Accumulated other comprehensive Total net
income assets
Valuation Foreign currency Total accumulated
difference translation other comprehensive
on available-for-sale adjustment income
securities
----------------------
Balance at beginning
of period 119 (1,006) (886) 66,344
---------------------- ---------------- -------------------- ---------
Cumulative effects
of changes in
accounting policies (8)
---------------------- ---------------- -------------------- ---------
Restated balance 119 (1,006) (886) 66,335
---------------------- ---------------- -------------------- ---------
Changes during
period
---------------------- ---------------- -------------------- ---------
Dividends of surplus (863)
---------------------- ---------------- -------------------- ---------
Profit attributable
to owners of parent 13,350
---------------------- ---------------- -------------------- ---------
Purchase of treasury
shares (2)
---------------------- ---------------- -------------------- ---------
Disposal of treasury
shares 24
---------------------- ---------------- -------------------- ---------
Net changes in
items other than
shareholders'
equity (15) 851 835 835
---------------------- ---------------- -------------------- ---------
Total changes
during period (15) 851 835 13,345
---------------------- ---------------- -------------------- ---------
Balance at end
of period 104 (155) (51) 79,681
---------------------- ---------------- -------------------- ---------
Consolidated statements of cash flows
(Millions of yen)
------------------------------------------------- ----------------- -----------------
Fiscal year ended Fiscal year ended
March 31, 2021 March 31, 2022
------------------------------------------------- ----------------- -----------------
Cash flows from operating activities
Profit before income taxes 9,884 19,331
Impairment losses 169 -
Depreciation 2,169 2,570
Amortization of goodwill 26 -
Increase (decrease) in allowance
for doubtful accounts 1 (34)
Loss (gain) on liquidation of subsidiaries (11) -
Loss (gain) on sale of investment
securities (65) (0)
Loss (gain) on sale and retirement
of non-current assets 256 13
Loss on tax purpose reduction entry
of non-current assets - 463
Interest and dividend income (56) (63)
Interest expenses 6 7
Subsidy income - (481)
Compensation income - (186)
Foreign exchange losses (gains) (0) (1)
Decrease (increase) in trade receivables (168) (3,883)
Decrease (increase) in inventories 872 (1,527)
Increase (decrease) in trade payables 664 1,519
Other, net (1,307) 278
Subtotal 12,439 18,005
----------------- -----------------
Interest and dividends received 56 63
Interest paid (7) (7)
Income taxes refund (paid) (1,776) (3,489)
Proceeds from compensation - 186
Net cash provided by (used in) operating
activities 10,713 14,757
----------------- -----------------
Cash flows from investing activities
Net decrease (increase) in time deposits 32 (12)
Purchase of property, plant and equipment (5,536) (3,738)
Proceeds from sale of property, plant
and equipment 4 6
Purchase of intangible assets (40) (70)
Purchase of investment securities (3) (235)
Proceeds from sale of investment
securities 109 232
Proceeds from liquidation of subsidiaries 34 -
Subsidies received - 285
Other, net 22 9
Net cash provided by (used in) investing
activities (5,376) (3,522)
----------------- -----------------
Cash flows from financing activities
Proceeds from short-term borrowings 100 -
Repayments of short-term borrowings (900) -
Proceeds from long-term borrowings 800 -
Repayments of long-term borrowings (133) (266)
Purchase of treasury shares (2) (2)
Dividends paid (665) (863)
Net cash provided by (used in) financing
activities (801) (1,132)
----------------- -----------------
Effect of exchange rate change on
cash and cash equivalents 238 394
Net increase (decrease) in cash and
cash equivalents 4,773 10,497
----------------- -----------------
Cash and cash equivalents at beginning
of period 29,114 33,888
Cash and cash equivalents at end
of period 33,888 44,385
----------------- -----------------
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