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 January 31, 2021
(Based on Japanese GAAP)
March 15, 2021
Company name: Stock code: Representative: Contact person:GA technologies Co., Ltd. 3491
Stock exchange listing: Tokyo Stock ExchangeURL:
https://www.ga-tech.co.jp/
RYO HIGUCHI, President and Chief Executive Officer
TAKEO HASHIMOTO, Executive Officer and Chief Accounting Officer
TEL：03-6230-9180
Scheduled date to file Quarterly Securities Report: | March 15, 2021 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on quarterly financial results: | Yes |
Holding of quarterly financial results meeting: | Yes (for institutional investors and analysts, in Japanese) |
(Amounts less than one million yen are rounded down) |
1. Consolidated financial results for the three months ended January 31, 2021 (November 1, 2020 to January 31, 2021)
(1) Consolidated operating results(cumulative)
(Percentage figures are the changes from the same period prior year)Net sales
EBITDA※
Operating profitOrdinary profitProfit attributable to owners of parent
Million yen
Three months ended January 31, 2021
Three months ended January 31, 2020
12,082 9,842
% 22.8 34.1
Million yen
(300)
% -
Million yen
122
(38.8)
(644) (46)
% - -
Million yen
(778) (70)
% - -
Million yen
(593) (84)
% - -
※EBITDA = Operating profits + Depreciation (Operating expenses) + Amortization of Goodwill
(NOTE) Comprehensive income: Three months ended January 31, 2021
Three months ended January 31, 2020
(589) million yen (-%) (87) million yen (-%)
Earnings per share | Diluted earnings per share | |
Three months ended January 31, 2021 Three months ended January 31, 2020 | Yen (19.74) (2.96) | Yen - - |
(NOTE) 1. Despite the existence of diluted shares, Diluted earnings per share for the three months ended January 31, 2020 and the three months ended January 31, 2021 are not stated since negative Earnings per share are recorded.
2.The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. Earnings per share has been calculated on the assumption that this stock split was conducted at the beginning of the previous year.
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |
As of January 31, 2021 As of October 31, 2020 | Million yen 27,936 18,505 | Million yen 18,600 7,137 | % 66.6 38.6 |
(REFERENCE) Shareholders' equity: As of January 31, 2021
As of October 31, 2020
18,600 million yen 7,137 million yen
2. Cash dividends
Dividends per share | |||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |
Year ended October 31, 2020 Year ended October 31, 2021 | Yen - - | Yen 0.00 | Yen - | Yen 0.00 | Yen 0.00 |
Year ending October 31, 2021 (Forecast) | - | - | - | - |
(NOTE) Revision of dividend forecast from recently announced figures: Not applicable
The dividend forecast for the year ending October 31, 2021 has not yet been determined.
3. Forecast of consolidated financial results for the fiscal year ending October 31, 2021 (November 1, 2020 to October 31, 2021)
(Percentage figures are the changes from the same period prior year)
Net sales | EBITDA※ | Operating profit | Ordinary profit | Profit attributable to owners of parent | Earnings per share | ||||||
Full year | Million yen 85,000 | % 34.8 | Million yen 3,878 | % 35.5 | Million yen 2,455 | % 30.0 | Million yen 2,060 | % 24.5 | Million yen 1,000 | % 10.6 | Yen 29.92 |
※EBITDA = Operating profits + Depreciation (Operating expenses) + Amortization of Goodwill
(NOTE) 1. Revisions to the forecast of financial results from recently announced figures: Not applicable
2. The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. In addition, the issuance of new shares (4,350,000 shares) by public offering with a payment date of January 19, 2021 and the capital increase through third-party allotment (652,500 shares) for the sale by over-allotment with a payment date of January 28, 2021 have been completed. Earnings per share in the forecast of consolidated financial results for the fiscal year ending October 2021 is calculated based on the average number of shares during the planned period, taking these factors into consideration.
4. Notes
(1) Changes in significant subsidiaries during the three months ended January 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) Application of special accounting methods for the preparation of quarterly consolidated financial statements:
Not applicable Applicable
(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: Changes in accounting policies due to other reasons:
Changes in accounting estimates:
Restatement of prior period financial statements:
Not applicable Not applicable Not applicable Not applicable
(4) Number of issued shares (common stock)
Total number of issued shares at the end of the period (including treasury shares):
As of January 31, 2021
34,439,655 shares
As of October 31, 2020
29,393,115 shares
Total number of treasury shares at the end of the period:
As of January 31, 2021
621 shares
As of October 31, 2020
621 shares
Average number of shares during the period (cumulative from the beginning of the fiscal year):
Three months ended January 31, 2021
30,068,565 shares
Three months ended January 31, 2020
28,485,459 shares
(NOTE) The Company conducted a 1:3 stock split for common stock with an effective date of November 1, 2020. The total number of issued shares at the end of the period, Total number of treasury shares at the end of the period and Average number of shares during the period have been calculated on the assumption that this stock split was conducted at the beginning of the previous year.
Quarterly Consolidated Financial Statements Quarterly Consolidated Balance Sheets
(Million yen) | ||
As of October 31, 2020 | As of January 31, 2021 | |
Assets | ||
Current assets | ||
Cash and deposits | 6,386 | 13,942 |
Accounts receivable - trade | 147 | 146 |
Real estate for sale | 1,386 | 2,950 |
Costs on uncompleted construction contracts | 8 | 22 |
Supplies | 48 | 38 |
Advance payments - trade | 137 | 162 |
Prepaid expenses | 270 | 284 |
Other | 149 | 337 |
Allowance for doubtful accounts | (81) | (89) |
Total current assets | 8,453 | 17,794 |
Non-current assets | ||
Property, plant and equipment | 1,230 | 1,319 |
Intangible assets | ||
Goodwill | 3,911 | 3,794 |
Software | 2,542 | 2,561 |
Software in progress | 57 | 204 |
Other | 858 | 816 |
Total intangible assets | 7,370 | 7,377 |
Investments and other assets | 1,450 | 1,444 |
Total non-current assets | 10,051 | 10,141 |
Total assets | 18,505 | 27,936 |
(Million yen)
As of October 31, 2020 | As of January 31, 2021 | |
Liabilities | ||
Current liabilities | ||
Short-term loans payable | 1,503 | 1,005 |
Current portion of long-term loans payable | 949 | 960 |
Current portion of bonds | 40 | 40 |
Accounts payable - other | 988 | 978 |
Income taxes payable | 661 | 1 |
Accrued consumption taxes | 210 | 23 |
Provision | 23 | 17 |
Deposits received | 1,074 | 1,039 |
Other | 271 | 243 |
Total current liabilities | 5,723 | 4,309 |
Non-current liabilities | ||
Bonds payable | 2,110 | 2,400 |
Long-term loans payable | 2,383 | 1,510 |
Deferred tax liabilities | 258 | 244 |
Provision | 77 | 67 |
Asset retirement obligations | 407 | 407 |
Other | 405 | 394 |
Total non-current liabilities | 5,643 | 5,025 |
Total liabilities | 11,367 | 9,335 |
Net assets | ||
Shareholders' equity | ||
Capital stock | 1,182 | 7,208 |
Capital surplus | 3,931 | 9,957 |
Retained earnings | 2,039 | 1,445 |
Treasury shares | (0) | (0) |
Total shareholders' equity | 7,152 | 18,610 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | (14) | (10) |
Foreign currency translation adjustment | - | 0 |
Total accumulated other comprehensive income | (14) | (10) |
Share acquisition rights | 0 | 0 |
Total net assets | 7,137 | 18,600 |
Total liabilities and net assets | 18,505 | 27,936 |
Quarterly Consolidated Statements of Income (cumulative) and Comprehensive Income (cumulative)
Quarterly Consolidated Statements of Income (cumulative)
(Million yen)
Three months ended | Three months ended | |
January 31, 2020 | January 31, 2021 | |
Net sales | 9,842 | 12,082 |
Cost of sales | 8,153 | 10,279 |
Gross profit | 1,688 | 1,802 |
Selling, general and administrative expenses | 1,735 | 2,447 |
Operating profit (loss) | (46) | (644) |
Non-operating income | ||
Interest income | 0 | 0 |
Other | 3 | 3 |
Total non-operating income | 3 | 3 |
Non-operating expenses | ||
Interest expenses | 13 | 22 |
Commission fee | 11 | 39 |
Bond issuance costs | - | 5 |
Share issuance costs | - | 61 |
Other | 1 | 9 |
Total non-operating expenses | 26 | 138 |
Ordinary profit(loss) | (70) | (778) |
Extraordinary losses | ||
Loss on sales and retirement of non-current assets | - | 0 |
Total extraordinary losses | - | 0 |
Loss before income taxes | (70) | (778) |
Income taxes | 14 | (184) |
Loss | (84) | (593) |
Loss attributable to owners of parent | (84) | (593) |
Quarterly Consolidated Statements of Comprehensive Income (cumulative)
(Million yen)Three months ended
January 31, 2020
Three months ended
January 31, 2021
Loss | (84) | (593) |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (3) | 4 |
Foreign currency translation adjustment | - | 0 |
Total other comprehensive income | (3) | 4 |
Comprehensive income | (87) | (589) |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | (87) | (589) |
6 |