CONSOLIDATED FINANCIAL STATEMENTS
These Consolidated Financial Statements were publicly released in the Japanese language on November 8, 2024.
(1) Consolidated statement of financial position
(Millions of yen) | |||
As of March 31, 2024 | As of September 30, 2024 | ||
Assets | |||
Current assets | |||
Cash and cash equivalents | 17,935 | 16,477 | |
Trade and other receivables | 23,329 | 23,614 | |
Inventories | 19,218 | 18,248 | |
Income taxes receivable | 104 | 119 | |
Other financial assets | 1,807 | 1,862 | |
Other current assets | 1,161 | 1,229 | |
Total current assets | 63,556 | 61,551 | |
Non-current assets | |||
Property, plant and equipment | 32,545 | 32,270 | |
Goodwill | 4,589 | 4,587 | |
Intangible assets | 3,188 | 2,935 | |
Investments accounted for using equity method | 11,493 | 10,878 | |
Other financial assets | 9,221 | 8,898 | |
Deferred tax assets | 727 | 688 | |
Other non-current assets | 300 | 291 | |
Total non-current assets | 62,065 | 60,550 | |
Total assets | 125,622 | 122,101 | |
(Millions of yen) | |||
As of March 31, 2024 | As of September 30, 2024 | ||
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Trade and other payables | 18,778 | 17,235 | |
Bonds and borrowings | 5,350 | 4,350 | |
Income taxes payable | 1,035 | 931 | |
Other financial liabilities | 1,130 | 1,020 | |
Provisions | 0 | 1 | |
Other current liabilities | 6,163 | 5,761 | |
Total current liabilities | 32,458 | 29,301 | |
Non-current liabilities | |||
Bonds and borrowings | 2,237 | 2,012 | |
Retirement benefit liability | 753 | 774 | |
Other financial liabilities | 1,752 | 1,620 | |
Deferred tax liabilities | 1,859 | 1,504 | |
Other non-current liabilities | 1,048 | 836 | |
Total non-current liabilities | 7,652 | 6,747 | |
Total liabilities | 40,111 | 36,048 | |
Equity | |||
Share capital | 10,951 | 10,951 | |
Capital surplus | 2,936 | 2,952 | |
Retained earnings | 61,039 | 62,706 | |
Treasury shares | -1,692 | -2,660 | |
Other components of equity | 11,927 | 11,765 | |
Total equity attributable to owners of parent | 85,163 | 85,716 | |
Non-controlling interests | 347 | 336 | |
Total equity | 85,511 | 86,052 | |
Liabilities and equity | 125,622 | 122,101 | |
(2) Consolidated Statement of Income
(Millions of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Revenue | 53,927 | 58,098 | |
Cost of sales | 38,600 | 41,732 | |
Gross profit | 15,327 | 16,366 | |
Selling, general and administrative expenses | 11,569 | 12,259 | |
Other income | 185 | 402 | |
Other expenses | 61 | 260 | |
Share of profit of investments accounted for using | 634 | 799 | |
equity method | |||
Operating profit | 4,515 | 5,048 | |
Finance income | 1,033 | 259 | |
Finance costs | 140 | 781 | |
Profit before tax | 5,408 | 4,525 | |
Income tax expense | 1,723 | 1,201 | |
Profit | 3,685 | 3,323 | |
Profit attributable to | |||
Owners of parent | 3,671 | 3,297 | |
Non-controlling interests | 14 | 26 | |
Profit | 3,685 | 3,323 | |
Earnings per share | |||
Basic earnings per share | 84.40 | 77.23 | |
(3)Consolidated Statement of Comprehensive Income
(Millions of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Profit | 3,685 | 3,323 | |
Other comprehensive income | |||
Items that will not be reclassified to profit or loss | |||
Net change in fair value of equity instruments designated as | 987 | -220 | |
measured at fair value through other comprehensive income | |||
Share of other comprehensive income of investments | 8 | -8 | |
accounted for using equity method | |||
Total | 996 | -228 | |
Items that may be reclassified to profit or loss | |||
Exchange differences on translation of foreign operations | 2,117 | -11 | |
Share of other comprehensive income of investments | 603 | 62 | |
accounted for using equity method | |||
Total | 2,721 | 50 | |
Total other comprehensive income | 3,718 | -178 | |
Comprehensive income | 7,403 | 3,144 | |
Comprehensive income attributable to | |||
Owners of parent | 7,348 | 3,134 | |
Non-controlling interests | 54 | 10 | |
Comprehensive income | 7,403 | 3,144 | |
(4) Consolidated Statement of Changes in Equity
(Millions of yen)
Equity attributable to owners of parent | ||||||||
Non- | ||||||||
Total equity | ||||||||
Other | controlling | Total | ||||||
Share | Capital Retained Treasury | attributable | ||||||
components | interests | |||||||
capital | surplus earnings | shares | of equity | to owners of | ||||
parent | ||||||||
Balance at beginning of period | 10,951 | 3,112 | 60,380 | -3,577 | 6,789 | 77,656 | 356 | 78,013 |
Profit | 3,671 | 3,671 | 14 | 3,685 | ||||
Other comprehensive income | 3,677 | 3,677 | 40 | 3,718 | ||||
Comprehensive income | － | － | 3,671 | － | 3,677 | 7,348 | 54 | 7,403 |
Dividends of surplus | -1,304 | -1,304 | -91 | -1,396 | ||||
Purchase of treasury shares | -0 | -0 | -0 | |||||
Disposal of treasury shares | 0 | 5 | 6 | 6 | ||||
Cancellation of treasury shares | -235 | -2,646 | 2,881 | － | － | |||
Share-based remuneration transactions | 30 | 30 | 30 | |||||
Total | － -205 | -3,951 | 2,886 | － | -1,269 | -91 | -1,361 | |
Balance at end of period | 10,951 | 2,907 | 60,101 | -691 | 10,466 | 83,735 | 319 | 84,055 |
(5)Consolidated Statement of Cash Flows
(Millions of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Cash flows from operating activities | |||
Profit before tax | 5,408 | 4,525 | |
Depreciation and amortization | 2,902 | 2,975 | |
Impairment losses | － | 53 | |
Interest and dividend income | -196 | -246 | |
Interest expenses | 43 | 45 | |
Foreign exchange loss (gain) | -685 | 439 | |
Share of loss (profit) of investments accounted for | -634 | -799 | |
using equity method | |||
Loss (gain) on sale and retirement of fixed assets | 28 | 21 | |
Decrease (increase) in inventories | 1,082 | 610 | |
Decrease (increase) in trade and other receivables | -1,853 | -346 | |
Increase (decrease) in trade and other payables | 629 | -1,017 | |
Increase (decrease) in retirement benefit liability | 11 | 25 | |
Increase (decrease) in provisions | -1 | 1 | |
Increase / decrease in other current liabilities | 164 | -248 | |
Increase / decrease in other non-current liabilities | -184 | -210 | |
Other | 431 | -167 | |
Subtotal | 7,147 | 5,662 | |
Interest and dividends received | 827 | 1,535 | |
Interest paid | -44 | -44 | |
Income taxes paid | -1,514 | -1,742 | |
Income taxes refund | 603 | 199 | |
Net cash provided by (used in) operating activities | 7,019 | 5,610 | |
Cash flows from investing activities | |||
Payments into time deposits | -1,037 | -1,833 | |
Proceeds from withdrawal of time deposits | 1,189 | 1,739 | |
Purchase of property, plant and equipment | -2,232 | -2,392 | |
Proceeds from sale of property, plant and equipment | 15 | 6 | |
Purchase of intangible assets | -106 | -107 | |
Other | 28 | 20 | |
Net cash provided by (used in) investing activities | -2,142 | -2,567 |
(Millions of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Cash flows from financing activities | |||
Net increase (decrease) in short-term loans | -752 | -400 | |
borrowings (within three months) | |||
Repayments of long-term borrowings | -2,825 | -825 | |
Repayments of lease liabilities | -558 | -602 | |
Purchase of treasury shares | -0 | -982 | |
Dividends paid to owners of parent | -1,304 | -1,630 | |
Dividends paid to non-controlling interests | -91 | -21 | |
Net cash provided by (used in) financing activities | -5,533 | -4,462 | |
Effect of exchange rate changes on cash and cash | 650 | -39 | |
equivalents | |||
Net increase (decrease) in cash and cash | -6 | -1,458 | |
equivalents | |||
Cash and cash equivalents at beginning of period | 16,770 | 17,935 | |
Cash and cash equivalents | |||
16,763 | 16,477 | ||