TIDMMAW
RNS Number : 3491E
Maruwa Co Ld
27 October 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 Six Months Ended September 30, 2022
(Based on Japanese GAAP)
October 27, 2022
Company name: MARUWA CO., LTD.
Stock exchange Tokyo, Nagoya
listing:
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: President and Representative Toshiro Kanbe
Director
Inquiries: Director Yukiko Morishita TEL 0561-51-0841
Scheduled date to file Quarterly Securities November 10, 2022
Report:
Scheduled date to commence dividend December 5, 2022
payments:
Preparation of supplementary material Yes
on quarterly financial results:
Holding of quarterly financial results Yes (for analysts and institutional
meeting: investors)
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the six months ended
September 30, 2022 (from April 1, 2022 to September 30, 2022)
(1) Consolidated operating results Percentages indicate year-on-year changes
(cumulative)
Net sales Operating profit Ordinary profit Profit attributable
to owners of
parent
Millions % Millions % Millions % Millions %
of yen of yen of yen of yen
Six months ended September
30, 2022 29,668 20.0 10,616 33.9 12,219 50.5 8,604 54.5
Six months ended September
30, 2021 24,722 26.6 7,926 69.2 8,118 74.8 5,567 76.5
-------- ---- ----------- ----- ---------- ----- ------------- ------
Earnings per share Diluted earnings
per share
Yen Yen
Six months ended September
30, 2022 697.39 -
Six months ended September
30, 2021 451.30 -
------------------ ----------------
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of Millions of %
yen yen
As of September 30, 2022 102,427 88,582 86.5
As of March 31, 2022 95,899 79,681 83.1
------------ ----------- ------------
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,
2022 - 34.00 - 36.00 70.00
Year ending March 31,
2023 - 38.00
--------------- --------------- --------------- --------------- -----
Year ending March 31,
2023 (Forecast) - 38.00 76.00
--------------- --------------- --------------- --------------- -----
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
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 six Yes
months ended September 30, 2022
(changes in specified subsidiaries resulting in the
change in scope of consolidation):
(2) Application of special accounting methods for preparing No
quarterly consolidated financial statements:
(3) Changes in accounting policies, changes in accounting
estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to No
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
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period
(including treasury shares)
As of September 30,
2022 12,372,000 shares As of March 31, 2022 12,372,000 shares
--------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of September 30,
2022 34,599 shares As of March 31, 2022 34,492 shares
--------------------- ------ --------------------- ------
Average number of shares during the period (cumulative from the
beginning of the fiscal year)
Six months ended September Six months ended September
30, 2022 12,337,427 shares 30, 2021 12,337,130 shares
---------------------------- ---------- --------------------------- ----------
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen)
--------------------------------------------------- --------------- -----------------
As of March 31, As of September
2022 30, 2022
--------------------------------------------------- --------------- -----------------
Assets
Current assets
Cash and deposits 44,621 48,669
Notes receivable - trade 473 235
Accounts receivable - trade 12,876 13,390
Electronically recorded monetary
claims - operating 1,810 1,728
Merchandise and finished goods 1,632 2,336
Work in process 2,648 3,048
Raw materials and supplies 3,706 3,850
Other 2,389 1,192
Allowance for doubtful accounts (9) (9)
Total current assets 70,149 74,443
--------------- -----------------
Non-current assets
Property, plant and equipment
Buildings and structures, net 10,101 10,269
Machinery, equipment and vehicles,
net 5,478 7,528
Land 4,699 4,700
Construction in progress 2,653 2,725
Other, net 590 668
Total property, plant and equipment 23,524 25,893
--------------- -----------------
Intangible assets
Other 298 308
Total intangible assets 298 308
--------------- -----------------
Investments and other assets 1,927 1,781
Total non-current assets 25,750 27,984
--------------- -----------------
Total assets 95,899 102,427
--------------- -----------------
(Millions of yen)
------------------------------------------------------ --------------- -----------------
As of March 31, As of September
2022 30, 2022
------------------------------------------------------ --------------- -----------------
Liabilities
Current liabilities
Notes and accounts payable - trade 3,444 3,024
Electronically recorded obligations
- operating 2,419 1,994
Short-term borrowings 100 100
Current portion of long-term borrowings 866 866
Income taxes payable 4,731 3,252
Provision for bonuses 866 839
Provision for bonuses for directors
(and other officers) 71 6
Other 2,455 2,620
Total current liabilities 14,953 12,705
--------------- -----------------
Non-current liabilities
Long-term borrowings 733 600
Deferred tax liabilities 153 177
Other 377 363
Total non-current liabilities 1,264 1,140
--------------- -----------------
Total liabilities 16,218 13,845
--------------- -----------------
Net assets
Shareholders' equity
Share capital 8,646 8,646
Capital surplus 12,017 12,018
Retained earnings 59,274 67,434
Treasury shares (207) (208)
Total shareholders' equity 79,732 87,891
--------------- -----------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 104 91
Foreign currency translation adjustment (155) 598
Total accumulated other comprehensive
income (51) 690
--------------- -----------------
Total net assets 79,681 88,582
--------------- -----------------
Total liabilities and net assets 95,899 102,427
--------------- -----------------
Consolidated statements of income (cumulative) and consolidated
statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2021 September 30, 2022
------------------------------------------------- ------------------- -------------------
Net sales 24,722 29,668
Cost of sales 12,331 14,006
Gross profit 12,391 15,662
------------------- -------------------
Selling, general and administrative
expenses 4,464 5,046
Operating profit 7,926 10,616
------------------- -------------------
Non-operating income
Interest income 31 29
Rental income 49 48
Foreign exchange gains 112 1,531
Other 37 29
Total non-operating income 231 1,639
------------------- -------------------
Non-operating expenses
Interest expenses 4 2
Rent expenses on real estate for
investments 22 24
Other 12 8
Total non-operating expenses 39 36
------------------- -------------------
Ordinary profit 8,118 12,219
------------------- -------------------
Extraordinary income
Gain on sale of non-current assets 0 0
Gain on liquidation of subsidiaries - 3
Subsidy income 89 15
Total extraordinary income 90 19
------------------- -------------------
Extraordinary losses
Loss on sale and retirement of non-current
assets 3 16
Loss on tax purpose reduction entry
of non-current assets 75 -
Loss related to infectious disease 41 -
Total extraordinary losses 119 16
------------------- -------------------
Profit before income taxes 8,088 12,221
------------------- -------------------
Income taxes - current 2,576 3,453
Income taxes - deferred (55) 164
Total income taxes 2,520 3,617
------------------- -------------------
Profit 5,567 8,604
------------------- -------------------
Profit attributable to owners of
parent 5,567 8,604
------------------- -------------------
Consolidated statements of comprehensive income (cumulative)
(Millions of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2021 September 30, 2022
------------------------------------------------- ------------------- -------------------
Profit 5,567 8,604
Other comprehensive income
Valuation difference on available-for-sale
securities 20 (12)
Foreign currency translation adjustment 33 754
Total other comprehensive income 54 741
------------------- -------------------
Comprehensive income 5,621 9,345
------------------- -------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 5,621 9,345
Consolidated statements of cash flows
(Millions of yen)
------------------------------------------------ ------------------- -------------------
Six months ended Six months ended
September 30, 2021 September 30, 2022
------------------------------------------------ ------------------- -------------------
Cash flows from operating activities
Profit before income taxes 8,088 12,221
Depreciation 1,235 1,469
Increase (decrease) in allowance
for doubtful accounts (4) (0)
Loss (gain) on sale and retirement
of non-current assets 3 16
Loss on tax purpose reduction entry
of non-current assets 75 -
Interest and dividend income (33) (32)
Interest expenses 4 2
Subsidy income (89) (15)
Foreign exchange losses (gains) (1) (0)
Decrease (increase) in trade receivables (2,101) (31)
Decrease (increase) in inventories (1,007) (1,178)
Increase (decrease) in trade payables 356 (855)
Other, net 849 1,104
Subtotal 7,374 12,701
------------------- -------------------
Interest and dividends received 33 32
Interest paid (4) (2)
Income taxes refund (paid) (1,904) (4,714)
Net cash provided by (used in) operating
activities 5,498 8,016
------------------- -------------------
Cash flows from investing activities
Net decrease (increase) in time deposits 2 -
Purchase of property, plant and equipment (1,221) (3,930)
Proceeds from sale of property, plant
and equipment 0 0
Purchase of investment securities (151) (23)
Purchase of intangible assets (36) (22)
Subsidies received 89 211
Other, net (23) 9
Net cash provided by (used in) investing
activities (1,340) (3,756)
------------------- -------------------
Cash flows from financing activities
Repayments of long-term borrowings (133) (133)
Purchase of treasury shares (0) (1)
Dividends paid (444) (444)
Net cash provided by (used in) financing
activities (577) (579)
------------------- -------------------
Effect of exchange rate change on
cash and cash equivalents 25 352
Net increase (decrease) in cash and
cash equivalents 3,605 4,033
------------------- -------------------
Cash and cash equivalents at beginning
of period 33,888 44,385
Cash and cash equivalents at end
of period 37,493 48,419
------------------- -------------------
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END
IR PPGRWUUPPUBM
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