Hosokawa Micron Corporation TSE:6277
Hosokawa Micron : Financial Statement (1stQ FY2025)
Source: MarketScreener
Note: This document has been translated from a part of Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
February 7, 2025
Consolidated Financial Results
for the First Quarter Ended December 31,2024
(Under Japanese GAAP)
Company Name | Hosokawa Micron Corporation | |||||||||
Stock Exchange Listing | Tokyo Stock Exchange | |||||||||
Stock Code | 6277 | URL | https://www.hosokawamicron.co.jp | |||||||
President | Kohei Hosokawa | |||||||||
Contact | Tetsuya Inoue, Executive Vice President | |||||||||
Telephone | +81-(0)72-855-2225 | |||||||||
Scheduled date of dividend payment: - | ||||||||||
Preparation of supplementary material on financial results: None | ||||||||||
Holding of financial results briefing: None | ||||||||||
(Figures are rounded down to the nearest million yen) | ||||||||||
1. Quarterly Consolidated Financial Results (October 1, 2024 - December 31, 2024) | ||||||||||
(1) Consolidated Results of Operation | (Percentages represent year-on-year changes) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
1st quarter ended Dec. 2024 | 18,123 | (10.5) | 1,441 | (8.3) | 1,686 | (7.7) | 1,162 | (3.5) | ||
1st quarter ended Dec. 2023 | 20,259 | 9.9 | 1,571 | 12.5 | 1,827 | 23.8 | 1,204 | 9.5 | ||
(Reference) Comprehensive Income (million Yen) | 1st quarter ended Dec.2024: 3,524 (934.0%) | |||||||||
1st quarter ended Dec.2023: 340 | (26.9%) | |||||||||
Earnings per share | Diluted earnings per | |||||||||
share | ||||||||||
Yen | Yen | |||||||||
1st quarter ended Dec. 2024 | 78.60 | 78.47 | ||||||||
1st quarter ended Dec. 2023 | 80.21 | 79.97 | ||||||||
(2) Consolidated Financial Position | ||||||||||
Total assets | Net assets | Equity ratio | ||||||||
Million yen | Million yen | % | ||||||||
As of Dec. 31, 2024 | 98,288 | 64,130 | 65.2 | |||||||
As of Sep. 30, 2024 | 98,071 | 61,623 | 62.8 | |||||||
(Reference) Shareholders' Equity (million Yen) Dec. 2024: 64,085 Sep. 2024: 61,540
2. Dividends
Dividends per share | ||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | Year-end | Annual | ||||
Yen | Yen | Yen | Yen | Yen | ||||
Year ended Sept. 2024 | (actual) | － | 50.00 | － | 70.00 | 120.00 | ||
Year ended Sept. 2025 | (actual) | － | ||||||
Year ended Sept. 2025 | (forecast) | 60.00 | － | 60.00 | 120.00 | |||
Note: Revisions of the forecast dividends since the latest announcement: None
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3. Consolidated Forecasts for the Fiscal Year Ending September 30, 2025 (October 1, 2024 - September 30, 2025)
(Percentages represent year-on-year changes)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per | ||||||
owners of parent | share | |||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
1st Half | 41,000 | (1.2) | 3,000 | (20.6) | 3,200 | (24.9) | 2,500 | 2.7 | 169.09 | |
Full Year | 83,000 | (2.8) | 6,500 | (21.5) | 6,900 | (25.3) | 5,100 | (8.6) | 344.96 | |
Note: Revisions of the Consolidated forecast since the latest announcement: None
4. Others
- Significant changes in consolidated subsidiaries during the period: None
- Adoption of simplified accounting treatment for quarterly closing: Yes
- Changes in accounting treatment for quarterly consolidated financial statement
- Changes in accounting policies due to the revision of accounting standards: Yes
- Changes in accounting policies other than 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Number of shares outstanding (common stock)
- Number of shares outstanding at the end of the period (incl. treasury stock)
Dec. 2024: | 15,730,538 shares | Sept. 2024: | 15,730,538 shares |
2) Number of treasury stock at the end of the period | |||
Dec. 2024: | 921,676 shares | Sept. 2024: | 946,096 shares |
3) Average number of shares in the fiscal year | |||
Dec. 2024: | 14,788,989 shares | Dec. 2023: | 15,013,814 shares |
- Review of the Japanese-language original of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None
- Explanation regarding appropriate use of earnings forecasts and other special notes
Note : The forecasts above are based on currently available information at the time of announcement. Actual results may differ from these forecasts for a number of factors.
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Contents of Attachments
Quarterly Consolidated Financial Statements and Major Notes | ||
(1) | Quarterly Consolidated Balance sheets | 4,5 |
(2) | Quarterly Consolidated Statements of Income | 6 |
(3) | Quarterly Consolidated Statements of Comprehensive Income | 7 |
(4) | Quarterly Consolidated Statements of Cash Flows | 8 |
(5) | Notes to Quarterly Consolidated Financial Statements | |
Matters related to the assumption of going concern | 9 | |
Significant change in amount of shareholder' equity | 9 | |
Significant change in the scope of consolidation | 9 | |
Adoption of special accounting methods for preparation of quarterly consolidated financial statements | 9 | |
Change in accounting policies | 9 | |
Segment information | 10 | |
Business combination | 11 | |
Additional information | 12 |
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Consolidated Financial Statements and Major Notes
(1) Quarterly Consolidated Balance Sheets
(Millions of Yen) | |||
As of September 30, 2024 | As of December 31, 2024 | ||
Assets | |||
Current Assets | |||
Cash and deposits | 27,420 | 28,116 | |
Notes and accounts receivable-trade, and contract | 21,449 | 18,311 | |
assets | |||
Electronically recorded monetary claims - | 1,240 | 1,512 | |
operating | |||
Finished goods | 3,146 | 3,467 | |
Work in process | 4,933 | 6,190 | |
Raw materials and supplies | 4,853 | 3,923 | |
Other | 1,963 | 2,467 | |
Allowance for doubtful accounts | (398) | (414) | |
Total Current Assets | 64,608 | 63,575 | |
Non-Current Assets | |||
Property, plant and equipment | |||
Buildings and structures | 27,379 | 28,453 | |
Machinery, equipment and vehicles | 17,541 | 18,648 | |
Land | 7,150 | 7,295 | |
Construction in progress | 792 | 859 | |
Other | 3,953 | 4,145 | |
Accumulated depreciation and | (27,740) | (29,143) | |
impairment loss | |||
Total property, plant and equipment | 29,075 | 30,259 | |
Intangible assets | |||
Goodwill | 128 | 126 | |
Other | 669 | 651 | |
Total intangible assets | 798 | 778 | |
Investments and other assets | |||
Investment securities | 2,655 | 2,604 | |
Deferred tax assets | 812 | 942 | |
Other | 121 | 127 | |
Total investments and other assets | 3,589 | 3,675 | |
Total Non-Current Assets | 33,463 | 34,713 | |
Total Assets | 98,071 | 98,288 | |
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(Millions of Yen) | |||
As of September 30, 2024 | As of December 31, 2024 | ||
Liabilities | |||
Current Liabilities | |||
Notes and accounts payable-trade | 8,706 | 6,752 | |
Electronically recorded obligations - operating | 1,649 | 1,643 | |
Current portion of long-term loans payable | 323 | 173 | |
Accrued expenses | 4,862 | 3,744 | |
Income taxes payable | 1,185 | 1,230 | |
Contract liabilities | 8,584 | 9,805 | |
Provision for bonuses | 721 | 174 | |
Provision for directors' bonuses | 82 | 26 | |
Provision for product warranties | 872 | 1,039 | |
Provision for share awards | 27 | 10 | |
Other | 2,653 | 2,923 | |
Total Current Liabilities | 29,669 | 27,524 | |
Non-Current Liabilities | |||
Long-term loans payable | 1,286 | 1,244 | |
Provision for share awards | 12 | 13 | |
Net defined benefit liability | 3,224 | 3,257 | |
Deferred tax liabilities | 1,243 | 1,156 | |
Other | 1,012 | 961 | |
Total Non-Current Liabilities | 6,778 | 6,633 | |
Total Liabilities | 36,447 | 34,157 | |
Net Assets | |||
Shareholders' Equity | |||
Capital stock | 14,496 | 14,496 | |
Capital surplus | 3,220 | 3,197 | |
Retained earnings | 42,128 | 42,254 | |
Treasury stock | (2,877) | (2,796) | |
Total Shareholders' Equity | 56,967 | 57,151 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale | 734 | 698 | |
securities | |||
Deferred gains or losses on hedges | 33 | (42) | |
Foreign currency translation adjustment | 4,174 | 6,644 | |
Remeasurements of defined benefit plans | (369) | (365) | |
Total accumulated other comprehensive | |||
4,572 | 6,934 | ||
income | |||
Subscription rights to shares | 83 | 44 | |
Total Net Assets | 61,623 | 64,130 | |
Total Liabilities and Net Assets | 98,071 | 98,288 | |
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(2) Quarterly Consolidated Statements of Income
(Millions of Yen) | |||
Oct. 1, 2023 - Dec. 31, 2023 | Oct. 1, 2024 - Dec. 31, 2024 | ||
Net sales | 20,259 | 18,123 | |
Cost of sales | 13,704 | 11,941 | |
Gross profit | 6,555 | 6,182 | |
Selling, general and administrative expenses | 4,983 | 4,741 | |
Operating profit | 1,571 | 1,441 | |
Non-operating income | |||
Interest income | 131 | 141 | |
Dividend income | 11 | 39 | |
Equity in earnings of affiliates | 65 | 7 | |
Foreign exchange gains | － | 46 | |
Gain on valuation of derivatives | 59 | － | |
Other | 13 | 22 | |
Total non-operating Income | 281 | 257 | |
Non-operating expenses | |||
Interest expenses | 6 | 4 | |
Foreign exchange losses | 15 | － | |
Loss on valuation of derivatives | － | 2 | |
Other | 3 | 4 | |
Total non-operating Expenses | 25 | 12 | |
Ordinary profit | 1,827 | 1,686 | |
Extraordinary income | |||
Gain on sales of non-current assets | 1 | 1 | |
Total extraordinary income | 1 | 1 | |
Extraordinary losses | |||
Loss on sales and retirement of non-current assets | 2 | 0 | |
Total extraordinary loss | 2 | 0 | |
Income before income taxes | 1,827 | 1,687 | |
Income taxes | 622 | 524 | |
Net income | 1,204 | 1,162 | |
Profit attributable to owners of parent | 1,204 | 1,162 | |
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(3) Quarterly Consolidated Statements of Comprehensive Income
(Millions of Yen) | ||
Oct. 1, 2023 - Dec. 31, 2023 | Oct. 1, 2024 - Dec. 31, 2024 | |
Net income | 1,204 | 1,162 |
Other comprehensive income |
Valuation difference on available-for-sale securities Deferred gains or losses on hedges
Foreign currency translation adjustment Remeasurements of defined benefit plans
Total other comprehensive income Comprehensive income
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non- controlling interests
(48) | (36) |
6 | (76) |
(827) | 2,470 |
6 | 4 |
(863) | 2,362 |
340 | 3,524 |
340 | 3,524 |
－ | － |
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(4) Quarterly Consolidated Statements of Cash Flows
(Millions of Yen) | |||
Oct. 1, 2023 - Dec. 31, 2023 | Oct. 1, 2024 - Dec 31, 2024 | ||
Cash flows from operating activities; | |||
Income before income taxes | 1,827 | 1,687 | |
Depreciation and amortization | 521 | 555 | |
Amortization of goodwill | 6 | 6 | |
Increase (decrease) in allowance for doubtful accounts | 52 | (5) | |
Increase (decrease) in provision for bonuses | (483) | (558) | |
Increase (decrease) in provision for directors' bonuses | (53) | (58) | |
Increase (decrease) in provision for product warranties | 55 | 118 | |
Increase (decrease) in net defined benefit liability | (0) | (33) | |
Increase (decrease) in provision for share awards | (16) | (14) | |
Interest and dividends income | (143) | (180) | |
Interest expenses | 6 | 4 | |
Equity in (earnings) losses of affiliates | (65) | (7) | |
Loss (gain) on valuation of derivatives | (59) | 2 | |
Loss (gain) on sales and retirement of non-current | 0 | (0) | |
assets | |||
Decrease (increase) in notes and accounts | 611 | 3,770 | |
receivable-trade | |||
Decrease (increase) in inventories | (57) | (66) | |
Increase (decrease) in notes and accounts | (1,081) | (2,342) | |
payable-trade | |||
Increase (decrease) in advances received | 873 | 779 | |
Increase (decrease) in accrued expenses | (1,034) | (1,356) | |
Other | (220) | (230) | |
Sub total | 738 | 2,068 | |
Interests and dividends income received | 143 | 180 | |
Interest expenses paid | (6) | (4) | |
Income taxes paid | (1,207) | (689) | |
Net cash provided by (used in) operating activities | (332) | 1,554 | |
Cash flows from investing activities; | |||
Payments into time deposits | (61) | (118) | |
Proceeds from withdrawal of time deposits | 61 | 169 | |
Purchase of property, plant and equipment | (654) | (899) | |
Purchase of intangible assets | (221) | (29) | |
Other | 1 | 1 | |
Net cash provided by (used in) investing activities | (873) | (875) | |
Cash flows from financing activities; | |||
Repayment of long-term loans payable | (31) | (191) | |
Purchase of treasury shares | (0) | － | |
Cash dividends paid | (753) | (1,038) | |
Repayment of lease liabilities | (18) | (22) | |
Net cash provided by (used in) financing activities | (804) | (1,253) | |
Effect of exchange rate change on cash and cash | |||
(430) | 1,314 | ||
equivalents | |||
Net increase (decrease) in cash and cash equivalents | (2,441) | 740 | |
Cash and cash equivalents at beginning of period | 25,689 | 26,995 | |
Cash and cash equivalents at end of period | 23,247 | 27,736 | |
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(5) Notes to Quarterly Consolidated Financial Statements
(Matters related to the assumption of going concern) There is no applicable information.
(Significant change in the amount of shareholders' equity) There is no applicable information.
(Significant change in the scope of consolidation) There is no applicable information.
In addition, significant change in the scope of consolidation is not applicable as the follows;
Hosokawa Micron Corporation (hereafter referred to as "the Company") absorbed Hosokawa Micron Cosmetics Corporation on October 1, 2024, which resulted in exclusion of the scope of consolidation.
(Adoption of the special accounting methods on quarterly consolidated financial statements)
The company, its domestic consolidated subsidiaries, and certain foreign consolidated subsidiaries calculate the tax expense by multiplying the reasonably estimated tax rate by the income before income taxes.
However, the effective statutory tax rate is used when the reasonably estimated tax rate results in an unreasonable tax expense.
(Change in accounting policies)
Application of "Accounting Standard for Current Income Taxes", etc.
The Company has applied the "Accounting Standard for Current Income Taxes" (ASBJ Statement No. 27, October 28, 2022 and other relevant standards from the beginning of the first quarter of the current fiscal year.
With regard to revisions to categories for recording current income taxes (taxation on other comprehensive income), the Company complies with the transitional treatment stipulated in the proviso of paragraph 20-3 of the Revised Accounting Standard of 2022 and the transitional treatment stipulated in the proviso of paragraph 65-2 (2) of the "Guidance on Accounting Standard for Tax Effect Accounting"(ASBJ Guidance No. 28, October 28, 2022). These changes in the accounting policy do not affect the quarterly consolidated financial statements.
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(Segment information)
Information about reported segment profit or loss (Oct 1 2023- Dec 31 2023)
(Millions of yen)
Reportable segment | Adjustments | Consolidated | ||||
(*1) | total (*2) | |||||
Powder | Blown Film | Total | ||||
Sales | ||||||
Outside customer | 15,835 | 4,423 | 20,259 | － | 20,259 | |
Intersegment | 16 | － | 16 | (16) | － | |
Total Sales | 15,852 | 4,423 | 20,275 | (16) | 20,259 | |
Segment profit (loss) | 1,714 | 211 | 1,926 | (354) | 1,571 | |
(*1) Adjustments to segment profit (loss) were ¥ (354) million and comprised mainly corporate expenses not allocated to reportable segments.
(*2) Segment profit (loss) was adjusted to conform with operating profit.
Information about reported segment profit or loss (Oct 1 2024- Dec 31 2024)
(Millions of yen)
Reportable segment | Adjustments | Consolidated | ||||
(*1) | total (*2) | |||||
Powder | Blown Film | Total | ||||
Sales | ||||||
Outside customer | 13,836 | 4,286 | 18,123 | － | 18,123 | |
Intersegment | 15 | － | 15 | (15) | － | |
Total Sales | 13,852 | 4,286 | 18,139 | (15) | 18,123 | |
Segment profit (loss) | 1,422 | 378 | 1,801 | (360) | 1,441 | |
(*1) Adjustments to segment profit (loss) were ¥ (360) million and comprised mainly corporate expenses not allocated to reportable segments.
(*2) Segment profit (loss) was adjusted to conform with operating profit.
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