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 August 31, 2024 (Based on Japanese GAAP)
October 11, 2024 | ||||
Company name: | Daito Pharmaceutical Co., Ltd. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 4577 | URL https://www.daitonet.co.jp/ | ||
Representative: | President and CEO | Hiroshi Matsumori | ||
Inquiries: | CFO(Chief Financial Officer) | Kenji Otsuga | TEL 076-421-5665 | |
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on financial results: | Yes | |||
Holding of financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended August 31, 2024 (from June 1, 2024 to August 31, 2024)
(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 August 31, 2024 | 12,678 | 4.1 | 849 | (21.4) | 983 | (10.0) | 618 | (9.6) |
Three months ended August 31, 2023 | 12,178 | 1.1 | 1,080 | (28.0) | 1,092 | (26.0) | 683 | (27.7) |
Earnings per share | Diluted earnings per share | ||||||||
Yen | Yen | ||||||||
Three months ended August 31, 2024 | 40.42 | - | |||||||
Three months ended August 31, 2023 | 43.27 | - | |||||||
(2) Consolidated financial position | |||||||||
Total assets | Net assets | Equity ratio | |||||||
Millions of yen | Millions of yen | % | |||||||
As of August 31, 2024 | 81,929 | 52,081 | 63.5 | ||||||
As of May 31, 2024 | 77,708 | 52,265 | 67.0 | ||||||
2. Cash dividends | |||||||||
Annual dividends per share | |||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | ||||||
Yen | Yen | Yen | Yen | ||||||
Year ended May 31, 2024 | - | 30.00 | - | 30.00 | |||||
Year ending May 31, 2025 | - | ||||||||
Year ending May 31, 2025 (Forecast) | 35.00 | - | 35.00 |
Total
Yen 60.00
70.00
3. Forecast of consolidated financial results for the year ending May 31, 2025 (from June 1, 2024 to May 31, 2025)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 49,000 | 4.5 | 3,500 | (10.1) | 3,500 | (10.8) | 2,300 | (30.2) | 150.39 |
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4. Notes | ||
(1) | Significant changes in the scope of consolidation during the three months ended August 31, 2024: | 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 August 31, 2024 | 15,348,440 | shares | As of May 31, 2024 | 15,698,440 | shares | |
Number of treasury shares at the end of the period | ||||||
As of August 31, 2024 | 55,357 | shares | As of May 31, 2024 | 405,273 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended August 31, 2024 | 15,293,111 | shares | Three months ended August 31, 2023 | 15,802,994 | shares |
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | ||
As of May 31, 2024 | As of August 31, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 2,727 | 4,693 |
Notes and accounts receivable - trade | 10,832 | 12,111 |
Electronically recorded monetary claims - operating | 4,567 | 5,215 |
Merchandise and finished goods | 7,877 | 7,546 |
Work in process | 5,948 | 6,556 |
Raw materials and supplies | 7,065 | 7,493 |
Consumption taxes refund receivable | 1,292 | 1,291 |
Other | 1,152 | 938 |
Allowance for doubtful accounts | (1) | (2) |
Total current assets | 41,460 | 45,844 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 18,291 | 18,196 |
Machinery, equipment and vehicles, net | 6,343 | 6,667 |
Other, net | 7,337 | 6,563 |
Total property, plant and equipment | 31,972 | 31,427 |
Intangible assets | ||
Other | 490 | 492 |
Total intangible assets | 490 | 492 |
Investments and other assets | ||
Investment securities | 3,188 | 2,306 |
Other | 604 | 1,867 |
Allowance for doubtful accounts | (8) | (8) |
Total investments and other assets | 3,784 | 4,164 |
Total non-current assets | 36,247 | 36,085 |
Total assets | 77,708 | 81,929 |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 5,262 | 5,993 |
Electronically recorded obligations - operating | 3,437 | 4,999 |
Current portion of long-term borrowings | 2,099 | 3,299 |
Income taxes payable | 195 | 475 |
Provisions | 58 | 377 |
Other | 7,452 | 3,646 |
Total current liabilities | 18,505 | 18,791 |
Non-current liabilities | ||
Long-term borrowings | 4,669 | 8,844 |
Provisions | 20 | 24 |
Retirement benefit liability | 320 | 325 |
Other | 1,926 | 1,862 |
Total non-current liabilities | 6,937 | 11,056 |
Total liabilities | 25,443 | 29,848 |
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(Millions of yen) | ||
As of May 31, 2024 | As of August 31, 2024 | |
Net assets | ||
Shareholders' equity | ||
Share capital | 7,186 | 7,186 |
Capital surplus | 7,072 | 7,072 |
Retained earnings | 37,087 | 36,381 |
Treasury shares | (990) | (126) |
Total shareholders' equity | 50,355 | 50,513 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,332 | 991 |
Foreign currency translation adjustment | 369 | 495 |
Remeasurements of defined benefit plans | 11 | 3 |
Total accumulated other comprehensive income | 1,713 | 1,489 |
Non-controlling interests | 196 | 78 |
Total net assets | 52,265 | 52,081 |
Total liabilities and net assets | 77,708 | 81,929 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
August 31, 2023 | August 31, 2024 | |
Net sales | 12,178 | 12,678 |
Cost of sales | 9,703 | 10,428 |
Gross profit | 2,474 | 2,249 |
Selling, general and administrative expenses | 1,393 | 1,400 |
Operating profit | 1,080 | 849 |
Non-operating income | ||
Interest income | 0 | 0 |
Dividend income | 32 | 31 |
Foreign exchange gains | - | 54 |
Share of profit of entities accounted for using equity method | - | 63 |
Other | 9 | 12 |
Total non-operating income | 42 | 163 |
Non-operating expenses | ||
Interest expenses | 3 | 17 |
Foreign exchange losses | 22 | - |
Commission expenses | 4 | 5 |
Other | 0 | 6 |
Total non-operating expenses | 30 | 29 |
Ordinary profit | 1,092 | 983 |
Extraordinary income | ||
Gain on sale of investment securities | - | 409 |
Other | - | 0 |
Total extraordinary income | - | 409 |
Profit before income taxes | 1,092 | 1,392 |
Income taxes - current | 246 | 433 |
Income taxes for prior periods | - | 394 |
Income taxes - deferred | 183 | 86 |
Income taxes | 429 | 914 |
Profit | 663 | 477 |
Loss attributable to non-controlling interests | (20) | (140) |
Profit attributable to owners of parent | 683 | 618 |
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Consolidated statements of comprehensive income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
August 31, 2023 | August 31, 2024 | |
Profit | 663 | 477 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 118 | (340) |
Foreign currency translation adjustment | 37 | 148 |
Remeasurements of defined benefit plans, net of tax | (25) | (8) |
Total other comprehensive income | 130 | (201) |
Comprehensive income | 793 | 276 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 804 | 369 |
Comprehensive income attributable to non-controlling | (10) | (93) |
interests | ||
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