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 Three Months Ended June 30, 2024
[Japanese GAAP]
Company name: GSI Creos Corporation | August 8, 2024 | |
Listing: Tokyo (Prime Market) | ||
Securities code: 8101 | ||
URL: https://www.gsi.co.jp | ||
Representative: | Tadaaki Yoshinaga | Representative Director, President and CEO |
Inquiries: | Kunihiro Ono | Director, Managing Executive Officer |
Telephone: +81-3-5418-2122
Scheduled date to commence dividend payments: -
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 Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)
(1) Consolidated Operating Results | (Percentages indicate year-on-year changes.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
June 30, 2024 | 32,534 | (1.4) | 886 | (8.1) | 941 | (6.9) | 648 | (12.1) | ||
June 30, 2023 | 32,989 | 31.4 | 964 | 78.6 | 1,010 | 34.4 | 738 | 32.2 |
(Note) Comprehensive income: | Three months ended June 30, 2024: |
Three months ended June 30, 2023: |
¥ | 1,429 million | [ | 78.4%] |
¥ | 801 million | [ | (40.3) %] |
Basic earnings | Diluted earnings per | |||||||
per share | share | |||||||
Three months ended | Yen | Yen | ||||||
June 30, 2024 | 52.88 | - | ||||||
June 30, 2023 | 60.21 | - | ||||||
(2) Consolidated Financial Position | ||||||||
Total assets | Net assets | Capital adequacy ratio | ||||||
As of | Millions of yen | Millions of yen | % | |||||
June 30, 2024 | 69,121 | 27,864 | 40.3 | |||||
March 31, 2024 | 75,336 | 27,450 | 36.4 | |||||
(Reference) Equity capital: | As of | June 30, 2024: | ¥ | 27,864 million | ||||
As of | March 31, 2024: | ¥ | 27,450 million |
－ 1 －
2. Dividends
Annual dividends | ||||||||
1st | 2nd | 3rd | Year-end | Total | ||||
quarter-end | quarter-end | quarter-end | ||||||
Yen | Yen | Yen | Yen | Yen | ||||
Fiscal year ended March 31, 2024 | - | 0.00 | - | 83.00 | 83.00 | |||
Fiscal year ending March 31, 2025 | - | |||||||
Fiscal year ending March 31, 2025 | 0.00 | - | 90.00 | 90.00 | ||||
(Forecast) | ||||||||
(Note) Revision to the forecast for dividends | announced most | recently: | None |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||||
owners of parent | per share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
Full year | 150,000 | 2.6 | 3,100 | 7.6 | 3,100 | 3.4 | 2,200 | 8.9 | 179.36 | ||
(Note) Revision to the financial results forecast announced most recently: | None | ||||||||||
* Notes: | |||||||||||
(1) Significant changes in the scope of consolidation during the period: | None | ||||||||||
Newly included: | - | (Company name: | ) | ||||||||
Excluded: | - | (Company name: | ) |
- Adoption of accounting treatment specific to the preparation of quarterly 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
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024: | 12,629,942 | shares |
March 31, 2024: | 12,629,942 | shares |
2) Number of treasury shares at the end of the period: | ||
June 30, 2024: | 362,904 | shares |
March 31, 2024: | 362,832 | shares |
3) Average number of shares outstanding during the period: | ||
Three months ended June 30, 2024: | 12,267,092 | shares |
Three months ended June 30, 2023: | 12,262,284 | shares |
- Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None
- Proper use of earnings forecasts, and other special matters
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.
－ 2 －
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Millions of yen) | ||
As of March 31, 2024 | As of June 30, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 10,346 | 10,646 |
Notes receivable - trade | 1,335 | 1,381 |
Accounts receivable - trade | 34,920 | 27,083 |
Electronically recorded monetary claims - | 3,042 | 3,009 |
operating | ||
Merchandise and finished goods | 11,859 | 12,775 |
Work in process | 1,117 | 1,398 |
Raw materials | 180 | 198 |
Other | 2,760 | 2,715 |
Allowance for doubtful accounts | (249) | (231) |
Total current assets | 65,313 | 58,976 |
Non-current assets | ||
Property, plant and equipment | 2,026 | 1,991 |
Intangible assets | ||
Goodwill | 313 | 306 |
Other | 210 | 213 |
Total intangible assets | 524 | 519 |
Investments and other assets | ||
Investment securities | 5,188 | 5,505 |
Other | 2,283 | 2,128 |
Total investments and other assets | 7,471 | 7,633 |
Total non-current assets | 10,023 | 10,144 |
Total assets | 75,336 | 69,121 |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 25,512 | 22,240 |
Electronically recorded obligations - operating | 1,409 | 1,466 |
Short-term borrowings | 14,268 | 11,333 |
Current portion of long-term borrowings | 595 | 595 |
Income taxes payable | 453 | 208 |
Provisions | 545 | 342 |
Other | 3,850 | 3,674 |
Total current liabilities | 46,634 | 39,860 |
Non-current liabilities | ||
Long-term borrowings | 557 | 535 |
Retirement benefit liability | 82 | 83 |
Other | 611 | 776 |
Total non-current liabilities | 1,251 | 1,395 |
Total liabilities | 47,886 | 41,256 |
－ 3 －
(Millions of yen) | ||
As of March 31, 2024 | As of June 30, 2024 | |
Net assets | ||
Shareholders' equity | ||
Share capital | 7,186 | 7,186 |
Capital surplus | 867 | 870 |
Retained earnings | 16,502 | 16,132 |
Treasury shares | (284) | (285) |
Total shareholders' equity | 24,271 | 23,904 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale | 1,436 | 1,641 |
securities | ||
Deferred gains or losses on hedges | 12 | 50 |
Foreign currency translation adjustment | 1,615 | 2,160 |
Remeasurements of defined benefit plans | 114 | 108 |
Total accumulated other comprehensive income | 3,179 | 3,960 |
Total net assets | 27,450 | 27,864 |
Total liabilities and net assets | 75,336 | 69,121 |
－ 4 －
Quarterly Consolidated Statements of Income and Comprehensive Income | ||
Quarterly Consolidated Statements of Income (For the three months) | ||
(Millions of yen) | ||
For the three months | For the three months | |
ended June 30, 2023 | ended June 30, 2024 | |
Net sales | 32,989 | 32,534 |
Cost of sales | 28,802 | 28,377 |
Gross profit | 4,186 | 4,157 |
Selling, general and administrative expenses | 3,222 | 3,271 |
Operating profit | 964 | 886 |
Non-operating income | ||
Interest income | 11 | 20 |
Dividend income | 80 | 65 |
Share of profit of entities accounted for using equity | 9 | - |
method | ||
Foreign exchange gains | 8 | 1 |
Other | 20 | 66 |
Total non-operating income | 131 | 153 |
Non-operating expenses | ||
Interest expenses | 58 | 75 |
Share of loss of entities accounted for using equity | 11 | 10 |
method | ||
Other | 15 | 12 |
Total non-operating expenses | 85 | 98 |
Ordinary profit | 1,010 | 941 |
Extraordinary income | ||
Gain on sale of investment securities | 36 | 0 |
Gain on liquidation of subsidiaries and associates | - | 14 |
Total extraordinary income | 36 | 15 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 0 | 0 |
Total extraordinary losses | 0 | 0 |
Profit before income taxes | 1,046 | 956 |
Income taxes - current | 292 | 215 |
Income taxes - deferred | 16 | 91 |
Total income taxes | 308 | 307 |
Profit | 738 | 648 |
Profit attributable to owners of parent | 738 | 648 |
－ 5 －
Quarterly Consolidated Statements of Comprehensive Income (For the three months)
(Millions of yen) | ||
For the three months | For the three months | |
ended June 30, 2023 | ended June 30, 2024 | |
Profit | 738 | 648 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (61) | 204 |
Deferred gains or losses on hedges | 42 | 37 |
Foreign currency translation adjustment | 87 | 544 |
Remeasurements of defined benefit plans, net of tax | (4) | (5) |
Total other comprehensive income | 63 | 781 |
Comprehensive income | 801 | 1,429 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of | 801 | 1,429 |
parent | ||
－ 6 －