MARUWA CO., LTD. — Interim / Quarterly Report 2021

Jan 28, 2021

National Storage Mechanism | Additional information

RNS Number : 2051N

Maruwa Co Ld

28 January 2021

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 Nine Months Ended December 31, 2020 (Based on Japanese GAAP)
					January 28, 2021
Company name:	MARUWA CO., LTD.
Stock exchange listing:	Tokyo, Nagoya
Stock code:	5344	URL  https://www.maruwa-g.com/
Representative:	President and Representative Director		Sei Kanbe
Inquiries:	Executive Officer		Tamaki Nozoki		TEL  0561-51-0839
Scheduled date to file Quarterly Securities Report:			February 10, 2021
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on quarterly financial results:			No
Holding of quarterly financial results meeting:			No

	(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2020 (from April 1, 2020 to December 31, 2020)

(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 December 31, 2020	30,569	(0.8)	7,573	13.1	7,413	9.2	5,078	24.3
Nine months ended December 31, 2019	30,810	2.2	6,699	(3.7)	6,789	(7.2)	4,087	(15.5)

	Earnings per share	Diluted earnings per share
	Yen	Yen
Nine months ended December 31, 2020	411.78	-
Nine months ended December 31, 2019	331.36	-

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
As of December 31, 2020	75,751	64,157	84.7
As of March 31, 2020	70,681	59,453	84.1

2. Cash dividends

	Annual dividends per share
1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2020	-	26.00	-	26.00	52.00
Year ending March 31, 2021	-	28.00	-
Year ending March 31, 2021 (Forecast)				36.00	64.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

	Percentages indicate year-on-year changes

	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Earnings per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	41,000	(0.6)	10,000	7.0	9,800	2.9	6,600	12.0	535.10

4. Notes

(1) Changes in significant subsidiaries during the nine months ended December 31, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):	No

(2) Application of special accounting methods for preparing quarterly consolidated financial statements:	No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of December 31, 2020	12,372,000	shares	As of March 31, 2020	12,372,000	shares

Number of treasury shares at the end of the period

	As of December 31, 2020	36,236	shares	As of March 31, 2020	40,163	shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

	Nine months ended December 31, 2020	12,333,434	shares	Nine months ended December 31, 2019	12,333,911	shares

Quarterly consolidated financial statements

Consolidated balance sheets

		(Thousands of yen)
	As of March 31, 2020	As of December 31, 2020
Assets
Current assets
Cash and deposits	29,334,349	32,786,636
Notes and accounts receivable - trade	9,542,199	9,254,324
Electronically recorded monetary claims - operating	1,295,434	1,324,172
Merchandise and finished goods	2,061,801	1,854,816
Work in process	2,393,622	2,338,258
Raw materials and supplies	2,756,758	2,330,629
Other	1,757,311	2,000,141
Allowance for doubtful accounts	(8,180)	(8,079)
Total current assets	49,133,297	51,880,899
Non-current assets
Property, plant and equipment
Buildings and structures	12,650,214	15,280,402
Accumulated depreciation	(6,505,584)	(6,825,182)
Buildings and structures, net	6,144,629	8,455,219
Machinery, equipment and vehicles	20,998,043	21,970,902
Accumulated depreciation	(16,567,320)	(16,559,703)
Machinery, equipment and vehicles, net	4,430,722	5,411,199
Land	4,421,234	4,530,840
Construction in progress	3,445,592	2,821,569
Other	3,499,670	3,695,478
Accumulated depreciation	(2,898,143)	(3,103,741)
Other, net	601,527	591,736
Total property, plant and equipment	19,043,706	21,810,565
Intangible assets
Goodwill	195,975	-
Other	254,672	243,965
Total intangible assets	450,648	243,965
Investments and other assets	2,053,978	1,816,293
Total non-current assets	21,548,333	23,870,824
Total assets	70,681,631	75,751,723

		(Thousands of yen)
	As of March 31, 2020	As of December 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade	1,898,714	2,199,668
Electronically recorded obligations - operating	1,619,355	1,720,020
Short-term borrowings	900,000	900,000
Current portion of long-term borrowings	-	266,688
Income taxes payable	827,864	1,211,066
Provision for bonuses	608,949	387,332
Provision for bonuses for directors (and other officers)	63,000	24,750
Other	3,382,929	2,702,853
Total current liabilities	9,300,813	9,412,380
Non-current liabilities
Long-term borrowings	1,200,000	1,666,640
Deferred tax liabilities	351,419	172,421
Other	375,829	342,791
Total non-current liabilities	1,927,248	2,181,852
Total liabilities	11,228,062	11,594,232
Net assets
Shareholders' equity
Share capital	8,646,720	8,646,720
Capital surplus	11,992,492	12,005,832
Retained earnings	40,526,723	44,939,510
Treasury shares	(239,524)	(216,635)
Total shareholders' equity	60,926,411	65,375,427
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	70,521	123,816
Foreign currency translation adjustment	(1,543,364)	(1,341,753)
Total accumulated other comprehensive income	(1,472,842)	(1,217,936)
Total net assets	59,453,569	64,157,490
Total liabilities and net assets	70,681,631	75,751,723

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Thousands of yen)
	Nine months ended December 31, 2019	Nine months ended December 31, 2020
Net sales	30,810,745	30,569,592
Cost of sales	17,956,384	17,078,452
Gross profit	12,854,360	13,491,140
Selling, general and administrative expenses	6,155,145	5,917,416
Operating profit	6,699,214	7,573,723
Non-operating income
Interest income	40,940	37,979
Rental income	71,853	65,898
Other	29,944	48,115
Total non-operating income	142,738	151,993
Non-operating expenses
Interest expenses	-	4,459
Foreign exchange losses	2,099	248,789
Rent expenses on real estate for investments	36,714	37,061
Other	13,937	21,817
Total non-operating expenses	52,751	312,127
Ordinary profit	6,789,201	7,413,589
Extraordinary income
Gain on sales of non-current assets	1,423	2,238
Gain on sales of investment securities	-	65,414
Gain on liquidation of subsidiaries	-	11,887
Settlement received	100,000	-
Total extraordinary income	101,423	79,540
Extraordinary losses
Loss on sales and retirement of non-current assets	74,408	92,875
Loss on valuation of investment securities	27,510	-
Impairment loss	-	169,251
Loss related to infectious disease	-	68,127
Loss on liquidation of business	775,716	-
Total extraordinary losses	877,634	330,254
Profit before income taxes	6,012,990	7,162,874
Income taxes - current	2,103,322	2,038,091
Income taxes - deferred	(177,395)	46,021
Total income taxes	1,925,926	2,084,113
Profit	4,087,063	5,078,760
Profit attributable to owners of parent	4,087,063	5,078,760

Consolidated statements of comprehensive income (cumulative)

		(Thousands of yen)
	Nine months ended December 31, 2019	Nine months ended December 31, 2020
Profit	4,087,063	5,078,760
Other comprehensive income
Valuation difference on available-for-sale securities	38,526	53,295
Foreign currency translation adjustment	(224,656)	201,611
Total other comprehensive income	(186,129)	254,906
Comprehensive income	3,900,933	5,333,667
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	3,900,933	5,333,667

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

QRTUWOKRASUAURR