May 12, 2023
Quarterly Financial Results for the Fiscal Year Ending September 30, 2023 (J-GAAP)
(2nd Quarter / October 1, 2022 - | March 31, 2023) | |||||||||||
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, Administrator | |||||||||||
Telephone | +81-(0)72-855-2225 | |||||||||||
Scheduled date of filing Quarterly Report | May 12, 2023 | |||||||||||
(Figures are rounded down to the nearest million yen) | ||||||||||||
1. Quarterly Consolidated Financial Results (October 1, 2022 to March 31, 2023) | ||||||||||||
(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 | % | |||||
2nd quarter ended Mar. 2023 | 37,182 | 14.1 | 3,204 | 5.8 | 3,367 | 7.7 | 2,529 | 4.7 | ||||
2nd quarter ended Mar. 2022 | 32,600 | 18.0 | 3,028 | 18.6 | 3,126 | 16.0 | 2,415 | 25.2 | ||||
(Reference) Comprehensive Income (million Yen) | 2nd quarter ended Mar.2023: 2,629 | 2nd quarter ended Mar.2022: 4,437 | |||
Earnings per share | Diluted earnings per | ||||
share | |||||
Yen | Yen | ||||
2nd quarter ended Mar. 2023 | 156.37 | 155.94 | |||
2nd quarter ended Mar. 2022 | 148.96 | 148.56 | |||
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | |||
Million yen | Million yen | % | |||
As of Mar. 31, 2023 | 87,317 | 52,197 | 59.7 | ||
As of Sept. 30, 2022 | 86,046 | 53,758 | 62.4 | ||
(Reference) Shareholders' Equity (million Yen) | Mar. 2023: 52,113 | Sept. 2022: 53,674 |
2. Dividends
Dividends per share | ||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | Year-end | Annual | ||||
Yen | Yen | Yen | Yen | Yen | ||||
Year ended Sept. 2022 | (actual) | － | 35.00 | － | 40.00 | 75.00 | ||
Year ended Sept. 2023 | (actual) | － | 37.50 | |||||
Year ended Sept. 2023 | (forecast) | － | 37.50 | 75.00 | ||||
Note: Revisions of the forecast dividends since the latest announcement: No
3. Consolidated Forecasts for the Fiscal Year Ending September 30, 2023 (October 1, 2022 - September 30, 2023)
(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 | ||
Full Year | 70,000 | 4.6 | 6,500 | 17.9 | 6,500 | 12.6 | 4,500 | 12.3 | 277.49 | |
Note: Revisions of the Consolidated forecast since the latest announcement: No
4. Others
- Changes in consolidated subsidiaries during the period (changes in scope of consolidation): None
- Adoption of simplified accounting treatment for quarterly closing: Yes
- Changes in accounting treatment for quarterly consolidated financial statement:
1) Changes in accounting policies due to the revision of accounting standards: Yes
Note 1: U.S. GAAP ASU2016-02 (Lease) has been applied to consolidated companies applying U.S. GAAP from the beginning of the current fiscal year.
Note 2: ASBJ Guidance No. 31 (Implementation Guidance on Accounting Standard for Fair Value Measurement) has been applied to consolidated companies in Japan from the beginning of the current fiscal year.
- 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)
Mar. 2023: | 17,230,538 shares | Sept. 2022: | 17,230,538 shares |
2) Number of treasury stock at the end of the period | |||
Mar. 2023: | 2,215,896 shares | Sept. 2022: | 1,010,404 shares |
3) Average number of shares in the fiscal year | |||
Mar. 2023: | 16,176,697 shares | Mar. 2022: | 16,213,709 shares |
- This quarterly consolidated financial statements is not subject to quarterly review procedures.
- 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.
5. Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of Yen) | |||
As of September 30, 2022 | As of March 31, 2023 | ||
Assets | |||
Current Assets | |||
Cash and deposits | 25,617 | 24,307 | |
Notes and accounts receivable-trade, and contract | 17,043 | 18,587 | |
assets | |||
Electronically recorded monetary claims - | 1,207 | 796 | |
operating | |||
Securities | 1,999 | － | |
Finished goods | 3,227 | 3,013 | |
Work in process | 3,954 | 4,835 | |
Raw materials and supplies | 3,861 | 4,502 | |
Other | 1,919 | 2,402 | |
Allowance for doubtful accounts | (335) | (270) | |
Total Current Assets | 58,495 | 58,174 | |
Non-Current Assets | |||
Property, plant and equipment | |||
Buildings and structures | 23,346 | 23,856 | |
Machinery, equipment and vehicles | 14,492 | 14,868 | |
Land | 6,156 | 6,613 | |
Construction in progress | 189 | 906 | |
Other | 3,010 | 3,301 | |
Accumulated depreciation and | (23,164) | (24,037) | |
impairment loss | |||
Total property, plant and equipment | 24,031 | 25,509 | |
Intangible assets | |||
Goodwill | 158 | 150 | |
Other | 840 | 916 | |
Total intangible assets | 998 | 1,066 | |
Investments and other assets | |||
Investment securities | 1,562 | 1,684 | |
Deferred tax assets | 844 | 759 | |
Other | 118 | 127 | |
Allowance for doubtful accounts | (5) | (5) | |
Total investments and other assets | 2,520 | 2,565 | |
Total Non-Current Assets | 27,550 | 29,142 | |
Total Assets | 86,046 | 87,317 | |
(Millions of Yen) | |||
As of September 30, 2022 | As of March 31, 2023 | ||
Liabilities | |||
Current Liabilities | |||
Notes and accounts payable-trade | 7,824 | 8,260 | |
Electronically recorded obligations - operating | 1,350 | 2,011 | |
Short-term loans payable | － | 400 | |
Current portion of long-term loans payable | 517 | 134 | |
Accrued expenses | 3,649 | 3,335 | |
Income taxes payable | 470 | 792 | |
Contract liabilities | 9,311 | 10,639 | |
Provision for bonuses | 533 | 319 | |
Provision for directors' bonuses | 83 | 49 | |
Provision for product warranties | 932 | 969 | |
Provision for share awards | 339 | 8 | |
Other | 2,222 | 1,700 | |
Total Current Liabilities | 27,235 | 28,621 | |
Non-Current Liabilities | |||
Long-term loans payable | 792 | 1,708 | |
Provision for share awards | 11 | 14 | |
Net defined benefit liability | 2,866 | 2,862 | |
Deferred tax liabilities | 1,239 | 1,350 | |
Other | 142 | 562 | |
Total Non-Current Liabilities | 5,051 | 6,498 | |
Total Liabilities | 32,287 | 35,119 | |
Net Assets | |||
Shareholders' Equity | |||
Capital stock | 14,496 | 14,496 | |
Capital surplus | 5,209 | 5,213 | |
Retained earnings | 35,320 | 37,193 | |
Treasury stock | (2,402) | (5,940) | |
Total Shareholders' Equity | 52,624 | 50,963 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale | 195 | 359 | |
securities | |||
Deferred gains or losses on hedges | (66) | 73 | |
Foreign currency translation adjustment | 1,062 | 861 | |
Remeasurements of defined benefit plans | (140) | (143) | |
Total accumulated other comprehensive | |||
1,050 | 1,150 | ||
income | |||
Subscription rights to shares | 83 | 83 | |
Total Net Assets | 53,758 | 52,197 | |
Total Liabilities and Net Assets | 86,046 | 87,317 | |
(2) Consolidated Statements of Income
(Millions of Yen) | |||
Oct. 1, 2021 - Mar. 31, 2022 | Oct. 1, 2022- Mar. 31, 2023 | ||
Net sales | 32,600 | 37,182 | |
Cost of sales | 21,504 | 24,725 | |
Gross profit | 11,095 | 12,457 | |
Selling, general and administrative expenses | 8,067 | 9,253 | |
Operating profit | 3,028 | 3,204 | |
Non-operating income | |||
Interest income | 19 | 90 | |
Dividend income | 16 | 20 | |
Equity in earnings of affiliates | 43 | 27 | |
Foreign exchange gains | 21 | － | |
Gain on valuation of derivatives | － | 18 | |
Penalty income | － | 31 | |
Other | 35 | 66 | |
Total non-operating Income | 136 | 255 | |
Non-operating expenses | |||
Interest expenses | 8 | 4 | |
Foreign exchange losses | － | 81 | |
Loss on valuation of derivatives | 22 | － | |
Other | 7 | 6 | |
Total non-operating Expenses | 37 | 91 | |
Ordinary profit | 3,126 | 3,367 | |
Extraordinary income | |||
Gain on sales of non-current assets | 42 | 0 | |
Total extraordinary income | 42 | 0 | |
Extraordinary losses | |||
Loss on sales and retirement of non-current assets | 3 | 0 | |
Total extraordinary loss | 3 | 0 | |
Income before income taxes | 3,165 | 3,367 | |
Income taxes | 750 | 838 | |
Net income | 2,415 | 2,529 | |
Profit attributable to owners of parent | 2,415 | 2,529 | |