Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
November 01, 2024
Consolidated Financial Results | |
for the Six Months Ended September 30, 2024 | |
(Under Japanese GAAP) | |
Company name: | NID Co., Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 2349 |
URL: | https://www.nid.co.jp/ |
Representative: | Shuntaro Komori, President |
Inquiries: | Hiroshi Kosuge, Director,Corporate Design Manager |
Telephone: | 81-8-3-6221-6811 |
Scheduled date to file semi-annual securities report: | November 13, 2024 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on financial results: | Yes |
Holding of financial results briefing: | Yes（Video distribution） |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the six months ended September 30, 2024 (from April 1, 2024 to September 30, 2024)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | |||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||
owners of parent | ||||||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
September 30,2024 | 11,996 | 13.7 | 1,521 | 24.2 | 1,715 | 23.4 | 1,130 | 22.0 | ||||||
September 30,2023 | 10,554 | 11.4 | 1,225 | 15.2 | 1,390 | 20.2 | 926 | △8.8 | ||||||
Note: Comprehensive income | For the six months ended September 30, 2024 : | ¥ | 907 million | [△17.5%] | ||||||||||
For the six months ended September 30, 2023 : | ¥ | 1,100 million | [12.8%] | |||||||||||
Basic earnings | Diluted earnings | |||||||||||||
per share | per share | |||||||||||||
Six months ended | Yen | Yen | ||||||||||||
September 30,2024 | 103.44 | － | ||||||||||||
September 30,2023 | 83.79 | － | ||||||||||||
(2) Consolidated financial position
Total assets | Net assets | |||
As of | Millions of yen | Millions of yen | ||
September 30,2024 | 26,782 | 20,322 | ||
March 31,2024 | 26,228 | 19,709 | ||
Reference: Equity | ||||
As of September 30,2024: | ¥20,322 million | |||
As of March 31, 2024: | ¥19,709 million |
Equity-to-asset ratio
%
75.9
75.1
2. Cash dividends
Annual dividends per share | |||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended | － | － | － | 27.00 | 27.00 | ||
March 31, 2024 | |||||||
Fiscal year ending | － | － | |||||
March 31, 2025 | |||||||
Fiscal year ending | 28.00 | 28.00 | |||||
March 31, 2025 | － | ||||||
(Forecast) | |||||||
Note: Revisions to the forecast of cash dividends most recently announced: None
3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31,2025 (From April 1, 2024 to March 31, 2025)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Net income | |||||
owners of parent | per share | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
Full Year | 24,000 | 6.3 | 2,900 | 3.2 | 3,170 | 1.4 | 2,180 | 3.4 | 199.53 |
Note : Revisions to the latest projected consolidated results : Yes
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: Yes
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of September 30,2024
As of March 31, 2024
13,109,490 shares
13,109,490 shares
(ii) Number of treasury shares at the end of the period
As of September 30,2024
As of March 31, 2024
2,183,932 shares
2,183,853 shares
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30,2024
Six months ended September 30,2023
10,925,584 shares
11,052,522 shares
- Semi-annualfinancial results reports are exempt from review conducted by certified public accountants or an audit corporation.
- Proper use of earnings forecasts, and other special matters
All projections provided in this document are based on the most accurate information available at the time of this writing. However our actual results may differ from our projections due to various unforeseen reasons.
4. Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Thousand yen) | ||||
As of March 31, 2024 | As of September 30, 2024 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 14,191,896 | 15,116,995 | ||
Notes receivable - trade | 143,565 | 78,680 | ||
Accounts receivable - trade | 4,043,283 | 3,874,784 | ||
Work in process | 198,969 | 326,769 | ||
Other | 195,250 | 231,911 | ||
Total current assets | 18,772,965 | 19,629,140 | ||
Non-current assets | ||||
Property, plant and equipment | 298,844 | 273,554 | ||
Intangible assets | ||||
Goodwill | 182,475 | 158,145 | ||
Other | 106,558 | 88,817 | ||
Total intangible assets | 289,033 | 246,962 | ||
Investments and other assets | ||||
Investment securities | 5,454,573 | 5,044,513 | ||
Deferred tax assets | 884,568 | 988,962 | ||
Guarantee deposits | 369,388 | 439,604 | ||
Other | 158,880 | 159,625 | ||
Total investments and other assets | 6,867,411 | 6,632,705 | ||
Total non-current assets | 7,455,289 | 7,153,222 | ||
Total assets | 26,228,255 | 26,782,362 | ||
Liabilities | ||||
Current liabilities | ||||
Accounts payable - trade | 683,941 | 725,215 | ||
Accounts payable - other | 469,837 | 256,205 | ||
Income taxes payable | 598,250 | 599,597 | ||
Accrued consumption taxes | 259,315 | 253,562 | ||
Advances received | 6,613 | 55 | ||
Provision for bonuses | 957,289 | 1,024,798 | ||
Other | 368,978 | 402,828 | ||
Total current liabilities | 3,344,226 | 3,262,261 | ||
Non-current liabilities | ||||
Retirement benefit liability | 2,531,311 | 2,553,627 | ||
Provision for retirement benefits for directors (and | 582,787 | 592,287 | ||
other officers) | ||||
Asset retirement obligations | 49,948 | 50,376 | ||
Other | 10,128 | 1,472 | ||
Total non-current liabilities | 3,174,176 | 3,197,763 | ||
Total liabilities | 6,518,403 | 6,460,025 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 653,352 | 653,352 | ||
Capital surplus | 488,675 | 488,675 | ||
Retained earnings | 19,579,581 | 20,414,734 | ||
Treasury shares | △1,875,617 | △1,875,795 | ||
Total shareholders' equity | 18,845,991 | 19,680,966 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 851,352 | 631,049 | ||
Remeasurements of defined benefit plans | 12,508 | 10,321 | ||
Total accumulated other comprehensive income | 863,861 | 641,370 | ||
Total net assets | 19,709,852 | 20,322,337 | ||
Total liabilities and net assets | 26,228,255 | 26,782,362 |
(2) Consolidated Statements of Income
(Thousand yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Net sales | 10,554,183 | 11,996,978 | |
Cost of sales | 8,106,506 | 9,222,014 | |
Gross profit | 2,447,677 | 2,774,964 | |
Selling, general and administrative expenses | 1,222,036 | 1,252,989 | |
Operating profit | 1,225,641 | 1,521,974 | |
Non-operating income | |||
Interest income | 5,615 | 1,493 | |
Dividend income | 83,938 | 197,793 | |
Gain on redemption of investment securities | 35,365 | － | |
Subsidy income | 28,655 | 20,466 | |
Other | 17,037 | 8,402 | |
Total non-operating income | 170,613 | 228,155 | |
Non-operating expenses | |||
Interest expenses | 552 | 549 | |
Loss on investments in investment partnerships | 754 | 2,387 | |
investment partnership management fee | 522 | 26,674 | |
Taxes and dues | 832 | 1,298 | |
Other | 3,368 | 3,826 | |
Total non-operating expenses | 6,031 | 34,737 | |
Ordinary profit | 1,390,223 | 1,715,393 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 98 | － | |
Total extraordinary losses | 98 | － | |
Profit before income taxes | 1,390,124 | 1,715,393 | |
Income taxes | 464,048 | 585,247 | |
Profit | 926,076 | 1,130,145 | |
Profit attributable to | |||
Profit attributable to owners of parent | 926,076 | 1,130,145 | |
Profit attributable to non-controlling interests | － | － | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 170,134 | △220,303 | |
Remeasurements of defined benefit plans, net of tax | 4,503 | △2,187 | |
Total other comprehensive income | 174,638 | △222,490 | |
Comprehensive income | 1,100,714 | 907,654 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of parent | 1,100,714 | 907,654 | |
Comprehensive income attributable to non-controlling | － | － | |
interests | |||
(3) Consolidated Statements of Cash Flows
(Thousand yen) | ||||
Six months ended | Six months ended | |||
September 30, 2023 | September 30, 2024 | |||
Cash flows from operating activities | ||||
Profit before income taxes | 1,390,124 | 1,715,393 | ||
Depreciation | 52,582 | 53,745 | ||
Amortization of goodwill | 24,330 | 24,330 | ||
Increase (decrease) in retirement benefit liability | 71,028 | 19,089 | ||
Increase (decrease) in provision for retirement benefits | 12,900 | 9,500 | ||
for directors (and other officers) | ||||
Increase (decrease) in provision for bonuses | 36,966 | 67,509 | ||
Interest and dividend income | △89,554 | △199,286 | ||
Interest expenses | 552 | 549 | ||
Loss (gain) on redemption of investment securities | △35,365 | － | ||
Loss on retirement of non-current assets | 98 | － | ||
Decrease (increase) in trade receivables | 95,036 | 214,272 | ||
Decrease (increase) in inventories | △304,425 | △127,772 | ||
Decrease (increase) in other current assets | △32,418 | △38,789 | ||
Increase (decrease) in trade payables | 40,874 | 60,385 | ||
Increase (decrease) in accounts payable - other | 4,168 | △198,245 | ||
Increase (decrease) in accrued consumption taxes | △117,865 | △5,753 | ||
Increase (decrease) in other current liabilities | 185,727 | 6,104 | ||
Other, net | △10,582 | 3,220 | ||
Subtotal | 1,324,177 | 1,604,252 | ||
Interest and dividends received | 89,541 | 207,331 | ||
Interest paid | △552 | △549 | ||
Income taxes paid | △526,324 | △574,785 | ||
Net cash provided by (used in) operating activities | 886,841 | 1,236,248 | ||
Cash flows from investing activities | ||||
Payments into time deposits | △0 | △0 | ||
Purchase of investment securities | △353,529 | △18,828 | ||
Proceeds from sale and redemption of investment | 408,768 | 102,700 | ||
securities | ||||
Purchase of property, plant and equipment | △8,253 | △18,599 | ||
Purchase of intangible assets | △25,554 | △7,396 | ||
Payments of guarantee deposits | △2,342 | △70,216 | ||
Proceeds from refund of guarantee deposits | 62 | － | ||
Other, net | △1,837 | △1,837 | ||
Net cash provided by (used in) investing activities | 17,312 | △14,177 | ||
Cash flows from financing activities | ||||
Proceeds from short-term borrowings | 360,000 | 360,000 | ||
Repayments of short-term borrowings | △360,000 | △360,000 | ||
Purchase of treasury shares | △287,820 | △178 | ||
Dividends paid | △287,999 | △295,168 | ||
Other, net | △1,254 | △1,974 | ||
Net cash provided by (used in) financing activities | △577,073 | △297,321 | ||
Net increase (decrease) in cash and cash equivalents | 327,080 | 924,749 | ||
Cash and cash equivalents at beginning of period | 12,387,759 | 13,530,111 | ||
Cash and cash equivalents at end of period | 12,714,839 | 14,454,860 |