MARUWA CO., LTD. — Interim / Quarterly Report 2022

Jul 27, 2021

National Storage Mechanism | Additional information

RNS Number : 5984G

Maruwa Co Ld

27 July 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 Three Months Ended June 30, 2021 (Based on Japanese GAAP)
					July 27, 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		Kouichi Goto		TEL  0561-51-0841
Scheduled date to file Quarterly Securities Report:			August 6, 2021
Scheduled date to commence dividend payments:			-
Preparation of supplementary material on quarterly financial results:			No
Holding of quarterly financial results meeting:			Yes

	(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)

(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	%
Three months ended June 30, 2021	11,112	23.7	3,182	47.7	3,236	49.9	2,211	53.0
Three months ended June 30, 2020	8,981	(13.5)	2,154	(3.5)	2,158	(2.0)	1,445	(4.6)

	Earnings per share	Diluted earnings per share
	Yen	Yen
Three months ended June 30, 2021	179.24	-
Three months ended June 30, 2020	117.21	-

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio
	Millions of yen	Millions of yen	%
As of June 30, 2021	79,107	68,132	86.1
As of March 31, 2021	78,059	66,344	85.0

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, 2021	-	28.00	-	36.00	64.00
Year ending March 31, 2022	-
Year ending March 31, 2022 (Forecast)		34.00	-	34.00	68.00

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

	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
Six months ending September 30, 2021	20,000	2.4	5,000	6.7	5,000	7.7	3,500	10.9	283.72
Full year	42,000	1.4	11,000	7.3	11,000	6.5	7,500	8.1	607.99

4. Notes

(1) Changes in significant subsidiaries during the three months ended June 30, 2021 (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:	Yes
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 June 30, 2021	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 June 30, 2021	34,270	shares	As of March 31, 2021	36,327	shares

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

	Three months ended June 30, 2021	12,336,524	shares	Three months ended June 30, 2020	12,331,951	shares

Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2021	As of June 30, 2021
Assets
Current assets
Cash and deposits	34,088	36,135
Notes and accounts receivable - trade	9,834	9,617
Electronically recorded monetary claims - operating	1,267	1,444
Merchandise and finished goods	1,641	1,669
Work in process	2,277	2,453
Raw materials and supplies	2,463	2,824
Other	2,148	864
Allowance for doubtful accounts	(8)	(8)
Total current assets	53,714	55,002
Non-current assets
Property, plant and equipment
Buildings and structures	17,012	17,305
Accumulated depreciation	(6,967)	(7,234)
Buildings and structures, net	10,044	10,070
Machinery, equipment and vehicles	22,354	23,054
Accumulated depreciation	(17,149)	(17,770)
Machinery, equipment and vehicles, net	5,204	5,284
Land	4,544	4,548
Construction in progress	1,889	1,641
Other	3,887	4,699
Accumulated depreciation	(3,238)	(4,008)
Other, net	648	690
Total property, plant and equipment	22,332	22,236
Intangible assets
Other	260	266
Total intangible assets	260	266
Investments and other assets	1,752	1,602
Total non-current assets	24,345	24,105
Total assets	78,059	79,107

		(Millions of yen)
	As of March 31, 2021	As of June 30, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	2,404	2,583
Electronically recorded obligations - operating	1,931	1,933
Short-term borrowings	100	100
Current portion of long-term borrowings	266	266
Income taxes payable	1,986	849
Provision for bonuses	699	447
Provision for bonuses for directors (and other officers)	49	2
Other	2,172	2,749
Total current liabilities	9,612	8,933
Non-current liabilities
Long-term borrowings	1,599	1,533
Deferred tax liabilities	160	166
Other	342	342
Total non-current liabilities	2,103	2,041
Total liabilities	11,715	10,975
Net assets
Shareholders' equity
Share capital	8,646	8,646
Capital surplus	12,005	12,017
Retained earnings	46,796	48,554
Treasury shares	(217)	(205)
Total shareholders' equity	67,231	69,014
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	119	111
Foreign currency translation adjustment	(1,006)	(993)
Total accumulated other comprehensive income	(886)	(881)
Total net assets	66,344	68,132
Total liabilities and net assets	78,059	79,107

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

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended June 30, 2020	Three months ended June 30, 2021
Net sales	8,981	11,112
Cost of sales	4,909	5,743
Gross profit	4,072	5,368
Selling, general and administrative expenses	1,917	2,186
Operating profit	2,154	3,182
Non-operating income
Interest income	14	11
Rental income	26	25
Foreign exchange gains	-	26
Other	17	11
Total non-operating income	58	75
Non-operating expenses
Interest expenses	0	2
Rent expenses on real estate for investments	11	10
Foreign exchange losses	23	-
Other	18	8
Total non-operating expenses	54	21
Ordinary profit	2,158	3,236
Extraordinary income
Gain on sale of non-current assets	0	0
Gain on liquidation of subsidiaries	11	-
Total extraordinary income	11	0
Extraordinary losses
Loss on sale and retirement of non-current assets	0	1
Loss related to infectious disease	67	-
Total extraordinary losses	67	1
Profit before income taxes	2,102	3,234
Income taxes - current	447	859
Income taxes - deferred	210	163
Total income taxes	657	1,023
Profit	1,445	2,211
Profit attributable to owners of parent	1,445	2,211

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Three months ended June 30, 2020	Three months ended June 30, 2021
Profit	1,445	2,211
Other comprehensive income
Valuation difference on available-for-sale securities	40	(8)
Foreign currency translation adjustment	(2)	13
Total other comprehensive income	38	5
Comprehensive income	1,483	2,216
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	1,483	2,216

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