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.
Consolidated Financial Results
for the Fiscal Year Ended March 31, 2025 (Under Japanese GAAP)
May 15, 2025
Company name: GSI Creos Corporation Listing: Tokyo Stock Exchange (Prime) Securities code: 8101
URL: https://www.gsi.co.jp/en
Representative: Tadaaki Yoshinaga Representative Director, President and CEO
Inquiries: Kunihiro Ono Director, Managing Executive Officer Telephone: +81-3-5418-2122
Scheduled date of annual general meeting of shareholders: June 26, 2025 Scheduled date to commence dividend payments: June 27, 2025 Scheduled date to file annual securities report: June 26, 2025
Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)
Consolidated Operating Results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
March 31, 2025
March 31, 2024
Millions of yen
165,541
146,194
%
13.2
11.6
Millions of yen
2,950
2,881
%
2.4
57.5
Millions of yen
2,548
2,999
%
(15.0)
67.8
Millions of yen
2,358
2,019
%
16.8
14.2
(Note) Comprehensive income: Fiscal year ended March 31, 2025: 3,641millions of yen ( 51.4%) Fiscal year ended March 31, 2024: 2,405millions of yen ( 9.1 %)
Basic earnings per share
Diluted earnings per share
Rate of return on equity
Ordinary profit to total assets ratio
Operating profit to net sales ratio
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2025
192.20
-
8.2
3.3
1.8
March 31, 2024
164.64
-
7.6
4.1
2.0
(Reference) Equity in earnings (losses) of affiliated companies:
Fiscal year ended March 31, 2025:
(153) millions of yen
(2) Consolidated Financial Position
Fiscal year ended March 31, 2024:
(33) millions of yen
Total assets
Net assets
Capital adequacy ratio
Net assets per share
As of
March 31, 2025
March 31, 2024
Millions of yen
79,965
75,336
Millions of yen
30,086
27,450
%
37.6
36.4
Yen
2,451.37
2,237.71
(Reference) Equity: As of March 31, 2025: 30,086 millions of yen
As of March 31, 2024: 27,450 millions of yen
(3) Consolidated Cash Flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at the end of period
Fiscal year ended March 31, 2025
March 31, 2024
Millions of yen
2,713
183
Millions of yen
(955)
1,486
Millions of yen
(4,222)
43
Millions of yen
7,994
10,346
Dividends
Annual dividends
Total dividends
Payout ratio (consolidated)
Dividends to net assets
(consolidated)
1st quarter-end
2nd quarter-end
3rd quarter-end
Year-end
Total
Fiscal year ended March 31, 2024
March 31, 2025
Yen
-
-
Yen
0.00
0.00
Yen
-
-
Yen
83.00
97.00
Yen
83.00
97.00
Millions of yen
1,018
1,190
%
50.4
50.5
%
3.8
4.1
Fiscal year ending March 31, 2026
(Forecast)
-
0.00
-
100.00
100.00
51.1
(Note) The year-end dividend per share in Fiscal year ended March 31,2025 is changed from 95.00 Yen to 97.00 Yen.
Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Full year | Millions of yen 166,000 | % 0.3 | Millions of yen 3,200 | % 8.5 | Millions of yen 3,200 | % 25.6 | Millions of yen 2,400 | % 1.8 | Yen 195.58 |
* Notes: | ||
(1) Significant changes in the scope of consolidation during the period: | None | |
Newly included: - (Company name: Excluded: - (Company name: | ) ) |
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 March 31, 2025: 12,629,942 shares
As of March 31, 2024: 12,629,942 shares
Number of treasury shares at the end of the period:
As of March 31, 2025: 356,584 shares
As of March 31, 2024: 362,832 shares
Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2025: 12,271,474 shares
Fiscal Year ended March 31, 2024: 12,265,763 shares
(Reference) Overview of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)
Non-consolidated Operating Results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Net income
Fiscal year ended
March 31, 2025
March 31, 2024
Millions of yen
89,589
78,049
%
14.8
14.6
Millions of yen
2,002
1,912
%
4.7
108.9
Millions of yen
2,174
1,396
%
55.7
18.4
Millions of yen
1,626
683
%
137.9
(51.5)
Basic earnings per share
Diluted earnings per share
Fiscal year ended
Yen
Yen
March 31, 2025
132.52
-
March 31, 2024
55.74
-
Non-consolidated Financial Position
Total assets | Net assets | Capital adequacy ratio | Net assets per share | |
As of March 31, 2025 March 31, 2024 | Millions of yen 51,387 45,905 | Millions of yen 19,200 18,049 | % 37.4 39.3 | Yen 1,564.42 1,471.34 |
(Reference) Equity: As of March 31, 2025: 19,200 millions of yen
As of March 31, 2024: 18,049 millions of yen
(Reasons for differences between non-consolidated results and actual results for the previous fiscal year)
The reasons for the differences in non-consolidated results are almost the same as those in consolidated results, as we are mainly engaged in the textiles and industrial products businesses. In addition, in the previous fiscal year, considering the financial position of our consolidated subsidiary, we recorded a provision for allowance for doubtful accounts for accounts receivable from the subsidiary, and dividend income from a consolidated subsidiary was recorded in the current fiscal year. As a result, there is a difference between the actual sales and profit for the previous fiscal year and the current fiscal year.
This financial report is out of scope of the audit procedure performed by a certified public accountant or audit corporation.
Cautionary statement with respect to forecasts of consolidated business results and special notes
Earning forecasts presented in this report are based on information available and assumptions deemed reasonable at the time. Therefore, they do not constitute a guarantee that they will be realized. Actual results could differ significantly from forecasts due to a variety of factors.
Consolidated Financial Statements
Consolidated Balance Sheets
(Millions of yen)
As of March 31, 2024
As of March 31, 2025
Assets
Current assets
Cash and deposits | 10,346 | 7,994 |
Notes receivable - trade | 1,335 | 954 |
Accounts receivable - trade | 34,920 | 35,578 |
Electronically recorded monetary claims -operating | 3,042 | 3,050 |
Merchandise and finished goods | 11,859 | 15,449 |
Work in process | 1,117 | 1,521 |
Raw materials | 180 | 461 |
Other | 2,760 | 3,803 |
Allowance for doubtful accounts | (249) | (226) |
Total current assets | 65,313 | 68,587 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 1,957 | 5,010 |
Accumulated depreciation | (1,576) | (4,036) |
Buildings and structures, net | 381 | 974 |
Machinery, equipment and vehicles | 2,140 | 10,995 |
Accumulated depreciation | (2,108) | (10,747) |
Machinery, equipment and vehicles, net | 31 | 248 |
Tools, furniture and fixtures | 454 | 654 |
Accumulated depreciation | (337) | (545) |
Tools, furniture and fixtures, net | 116 | 109 |
Land | 1,073 | 1,255 |
Leased assets | 871 | 863 |
Accumulated depreciation | (448) | (547) |
Leased assets, net | 423 | 316 |
Construction in progress | 1 | 41 |
Total property, plant and equipment | 2,026 | 2,945 |
Intangible assets | ||
Goodwill | 313 | - |
Leased assets | 47 | 31 |
Other | 163 | 403 |
Total intangible assets | 524 | 434 |
Investments and other assets | ||
Investment securities | 5,188 | 5,978 |
Investments in capital | 1,071 | 850 |
Long-term loans receivable | 9 | 16 |
Deferred tax assets | 107 | 96 |
Retirement benefit asset | 570 | 500 |
Other | 676 | 679 |
Allowance for doubtful accounts | (153) | (124) |
Total investments and other assets | 7,471 | 7,998 |
Total non-current assets | 10,023 | 11,378 |
Total assets | 75,336 | 79,965 |
Provision for bonuses for directors (and other officers)
42
47
(Millions of yen)
As of March 31, 2024 As of March 31, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade 25,512 26,094
Electronically recorded obligations - operating 1,409 829
Short-term borrowings 14,268 12,095
Current portion of long-term borrowings 595 42
Lease liabilities 196 148
Income taxes payable 453 564
Contract liabilities 535 880
Provision for bonuses 503 760
Provision for loss on business withdrawal - 366
Other 3,118 4,937
Total current liabilities 46,634 46,767 Non-current liabilities
Long-term borrowings 557 1,014
Lease liabilities 267 178
Deferred tax liabilities 335 531
Retirement benefit liability 82 722
Asset retirement obligations 8 663
Total non-current liabilities 1,251 3,111
Total liabilities 47,886 49,879
Net assets
Shareholders' equity
Share capital 7,186 7,186
Capital surplus 867 876
Retained earnings 16,502 17,842
Treasury shares (284) (280)
Total shareholders' equity 24,271 25,624 Accumulated other comprehensive income
Valuation difference on available-for-sale securities
1,436 1,968
Deferred gains or losses on hedges 12 2
Foreign currency translation adjustment 1,615 2,455
Remeasurements of defined benefit plans 114 34
Total accumulated other comprehensive income 3,179 4,461
Total net assets 27,450 30,086
Total liabilities and net assets 75,336 79,965