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October 31, 2024
Consolidated Financial Results | |
for the Six Months Ended September 30, 2024 | |
(Under Japanese GAAP) | |
Company name: | ESLEAD CORPORATION |
Listing: | Tokyo Stock Exchange |
Securities code: | 8877 |
URL: | https://www.eslead.co.jp |
Representative: | Sugio Aramaki, Representative Director and President |
Inquiries: | Yuzo Inoue, Senior Managing Director and General Manager of Administrative Division |
Telephone: | +81-6-6345-1880 |
Scheduled date to file semi-annual securities report: | November 8, 2024 |
Scheduled date to commence dividend payments: | December 2, 2024 |
Preparation of supplementary material on financial results: | Yes |
Holding of financial results briefing: | None |
(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 | 57,385 | 58.3 | 10,173 | 73.3 | 9,909 | 71.7 | 6,399 | 74.7 | |||
September 30, 2023 | 36,257 | 31.6 | 5,872 | 158.1 | 5,771 | 158.2 | 3,663 | 161.5 | |||
Note: Comprehensive income For the six months ended September 30, 2024: | ¥ 6,337 million | [ 70.3 % ] | ||||||||||||||
For the six months ended September 30, 2023: | ¥ 3,721 million | [ 164.5 % ] | ||||||||||||||
Basic earnings per share | Diluted earnings per share | |||||||||||||||
Six months ended | Yen | Yen | ||||||||||||||
September 30, 2024 | 414.77 | - | ||||||||||||||
September 30, 2023 | 237.42 | - | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity-to-asset ratio | ||||||||||||||
As of | Millions of yen | Millions of yen | % | |||||||||||||
September 30, 2024 | 178,188 | 71,821 | 40.3 | |||||||||||||
March 31, 2024 | 168,954 | 66,873 | 39.6 | |||||||||||||
Reference: Equity | ||||||||||||||||
As of September 30, 2024: ¥ 71,821 million | ||||||||||||||||
As of March 31, 2024 | : | ¥ 66,873 million | ||||||||||||||
2. Cash dividends | ||||||||||||||||
Annual dividends per share | ||||||||||||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||||||||||||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | |||||||||||
- | 60.00 | - | 90.00 | 150.00 | ||||||||||||
March 31, 2024 | ||||||||||||||||
Fiscal year ending | - | 85.00 | ||||||||||||||
March 31, 2025 | ||||||||||||||||
Fiscal year ending | ||||||||||||||||
March 31, 2025 | 95.00 | 180.00 | ||||||||||||||
(Forecast) |
Note: Revisions to the forecast of cash dividends most recently announced: Yes
For the revision of the dividend forecast, please refer to the "Notice Concerning Revision of Interim Dividend and Year-End Dividend Forecast" released today (October 31, 2024).
3. Forecast of consolidated financial results for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings per share | |||||||||
owners of parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
Fiscal year ending | 98,500 | 22.7 | 14,200 | 22.1 | 13,700 | 20.7 | 8,700 | 15.7 | 563.85 | ||||
March 31, 2025 | |||||||||||||
Note: Revisions to the earnings forecasts most recently announced: None |
* Notes
- Significant changes in the scope of consolidation during the period: None
- Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None
- 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
Note: For details, please refer to "2. Interim Consolidated Financial Statements and Major Notes (4) Notes to Interim Consolidated Financial Statements (Notes to Changes in Accounting Policies)" on page 9 of the attached document.
- 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 | 15,465,600 shares |
As of | March 31, 2024 | 15,465,600 shares |
(ii) Number of treasury shares at the end of the period
As of | September 30, 2024 | 36,100 shares |
As of | March 31, 2024 | 36,015 shares |
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Six months ended | September 30, 2024 | 15,429,533 shares |
Six months ended | September 30, 2023 | 15,429,754 shares |
- Semi-annualfinancial results reports are exempt from review conducted by certified public accountants or an audit firm.
- Proper use of earnings forecasts, and other special matters
(Cautions on forward-looking statements, etc.)
The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. Please refer to "1. Business Results, (3) Explanation of Forward-Looking Statements" on page 3 for the assumptions used in forecasting business results and precautions regarding the use of business results forecasts.
(How to obtain supplementary information on interim financial results)
Supplementary materials for interim financial results are disclosed on TDnet on the same day.
Semi-annual consolidated balance sheet
(Thousands of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 16,240,751 | 17,120,598 |
Accounts receivable - trade | 3,009,632 | 1,590,151 |
Real estate for sale | 58,527,159 | 57,038,319 |
Real estate for sale in process | 73,932,894 | 85,022,892 |
Other | 4,515,978 | 4,130,968 |
Total current assets | 156,226,416 | 164,902,930 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 1,426,951 | 1,847,398 |
Machinery, equipment and vehicles, net | 1,694,513 | 1,628,995 |
Land | 3,169,777 | 3,381,256 |
Leased assets, net | 1,184,523 | 1,152,894 |
Construction in progress | 1,393,885 | 1,393,885 |
Other, net | 37,172 | 30,141 |
Total property, plant and equipment | 8,906,824 | 9,434,572 |
Intangible assets | 311,940 | 277,465 |
Investments and other assets | ||
Investment securities | 556,027 | 471,584 |
Deferred tax assets | 601,441 | 733,175 |
Other | 2,351,513 | 2,368,280 |
Total investments and other assets | 3,508,982 | 3,573,041 |
Total non-current assets | 12,727,747 | 13,285,079 |
Total assets | 168,954,164 | 178,188,010 |
(Thousands of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 2,146,631 | 808,082 |
Electronically recorded obligations - operating | 5,659,852 | 3,759,250 |
Short-term borrowings | 3,660,000 | 2,298,100 |
Current portion of long-term borrowings | 18,287,392 | 24,693,864 |
Lease liabilities | 135,943 | 136,376 |
Income taxes payable | 2,303,275 | 3,858,946 |
Advances received | 2,564,618 | 1,179,958 |
Provision for bonuses | 230,873 | 189,410 |
Other | 1,932,080 | 1,078,276 |
Total current liabilities | 36,920,666 | 38,002,265 |
Non-current liabilities | ||
Bonds payable | 500,000 | 500,000 |
Long-term borrowings | 62,889,471 | 66,026,341 |
Lease liabilities | 1,152,891 | 1,113,409 |
Retirement benefit liability | 155,280 | 176,631 |
Provision for retirement benefits for directors (and other officers) | 239,187 | 241,625 |
Asset retirement obligations | 23,320 | 23,320 |
Other | 200,291 | 282,820 |
Total non-current liabilities | 65,160,442 | 68,364,147 |
Total liabilities | 102,081,108 | 106,366,412 |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,983,000 | 1,983,000 |
Capital surplus | 2,871,307 | 2,871,307 |
Retained earnings | 61,836,559 | 66,847,595 |
Treasury shares | (64,924) | (65,250) |
Total shareholders' equity | 66,625,942 | 71,636,652 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 247,113 | 184,944 |
Total accumulated other comprehensive income | 247,113 | 184,944 |
Total net assets | 66,873,055 | 71,821,597 |
Total liabilities and net assets | 168,954,164 | 178,188,010 |
Semi-annual consolidated statement of income
(Thousands of yen) | ||
Six months ended | Six months ended | |
September 30, 2023 | September 30, 2024 | |
Net sales | 36,257,997 | 57,385,831 |
Cost of sales | 26,377,147 | 42,869,667 |
Gross profit | 9,880,850 | 14,516,163 |
Selling, general and administrative expenses | ||
Advertising expenses | 365,705 | 234,073 |
Salaries and bonuses | 1,425,232 | 1,618,117 |
Provision for bonuses | 189,304 | 173,765 |
Retirement benefit expenses | 30,990 | 59,966 |
Provision for retirement benefits for directors (and other officers) | 3,437 | 2,437 |
Taxes and dues | 640,427 | 1,021,155 |
Depreciation | 61,991 | 62,079 |
Other | 1,291,698 | 1,170,843 |
Total selling, general and administrative expenses | 4,008,787 | 4,342,438 |
Operating profit | 5,872,062 | 10,173,725 |
Non-operating income | ||
Interest income | 213 | 1,553 |
Dividend income | 8,390 | 11,322 |
Cancellation penalty income | 30,090 | 3,100 |
Gain on guarantee deposits received | 31,002 | 38,126 |
Subsidy income | 7,683 | 6,133 |
Insurance claim income | 15,451 | 1,650 |
Administrative service fee income | 28,975 | 30,788 |
Other | 17,540 | 22,750 |
Total non-operating income | 139,347 | 115,424 |
Non-operating expenses | ||
Interest expenses | 234,496 | 377,623 |
Other | 5,040 | 1,657 |
Total non-operating expenses | 239,536 | 379,280 |
Ordinary profit | 5,771,873 | 9,909,869 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 1,795 | - |
Total extraordinary losses | 1,795 | - |
Profit before income taxes | 5,770,077 | 9,909,869 |
Income taxes - current | 2,065,341 | 3,614,493 |
Income taxes - deferred | 41,471 | (104,322) |
Total income taxes | 2,106,812 | 3,510,170 |
Profit | 3,663,264 | 6,399,699 |
Profit attributable to owners of parent | 3,663,264 | 6,399,699 |
Semi-annual consolidated statement of comprehensive income
(Thousands of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Profit | 3,663,264 | 6,399,699 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 58,298 | (62,168) | |
Total other comprehensive income | 58,298 | (62,168) | |
Comprehensive income | 3,721,563 | 6,337,530 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of parent | 3,721,563 | 6,337,530 | |
Comprehensive income attributable to non-controlling interests | - | - |
Semi-annual consolidated statement of cash flows
(Thousands of yen) | ||
Six months ended | Six months ended | |
September 30, 2023 | September 30, 2024 | |
Cash flows from operating activities | ||
Profit before income taxes | 5,770,077 | 9,909,869 |
Depreciation | 254,159 | 257,518 |
Amortization of goodwill | 17,500 | 17,500 |
Increase (decrease) in retirement benefit liability | 14,676 | 21,350 |
Increase (decrease) in provision for retirement benefits for directors (and | 3,437 | 2,437 |
other officers) | ||
Interest and dividend income | (8,604) | (12,876) |
Interest expenses | 234,496 | 377,623 |
Insurance claim income | (15,451) | (1,650) |
Loss on retirement of non-current assets | 1,795 | - |
Decrease (increase) in trade receivables | (400,259) | 1,419,481 |
Decrease (increase) in inventories | (19,972,787) | (9,601,158) |
Increase (decrease) in trade payables | 1,208,623 | (3,239,150) |
Increase (decrease) in advances received | 258,495 | (1,384,659) |
Increase (decrease) in accrued consumption taxes | 65,140 | (137,740) |
Other, net | (506,718) | (313,782) |
Subtotal | (13,075,417) | (2,685,236) |
Interest and dividends received | 8,572 | 12,839 |
Proceeds from insurance income | 15,451 | 1,650 |
Interest paid | (233,253) | (379,668) |
Income taxes paid | (2,742,110) | (2,097,801) |
Net cash provided by (used in) operating activities | (16,026,757) | (5,148,217) |
Cash flows from investing activities | ||
Payments into time deposits | (70,000) | (70,000) |
Proceeds from withdrawal of time deposits | 70,000 | 70,000 |
Purchase of property, plant and equipment | (22,360) | (682,612) |
Purchase of intangible assets | (29,285) | (10,379) |
Purchase of investment securities | (4,664) | (5,164) |
Other, net | (395) | 800 |
Net cash provided by (used in) investing activities | (56,705) | (697,355) |
Cash flows from financing activities | ||
Net increase (decrease) in short-term borrowings | (203,200) | (1,361,900) |
Repayments of lease liabilities | (64,578) | (67,407) |
Proceeds from long-term borrowings | 18,788,500 | 22,905,900 |
Repayments of long-term borrowings | (10,410,005) | (13,362,558) |
Redemption of bonds | (500,000) | - |
Purchase of treasury shares | (121) | (326) |
Dividends paid | (770,556) | (1,388,288) |
Net cash provided by (used in) financing activities | 6,840,037 | 6,725,420 |
Net increase (decrease) in cash and cash equivalents | (9,243,424) | 879,847 |
Cash and cash equivalents at beginning of period | 26,027,033 | 15,716,152 |
Cash and cash equivalents at end of period | 16,783,608 | 16,596,000 |