Note: This document has been translated from a part of the Japanese original. The translation of the supplementary material on financial results will also be disclosed on May 28, 2025. These documents have been translated for reference purposes only. In the event of any discrepancy between these translated documents and their Japanese originals, the originals shall prevail.
［Summary］Consolidated Financial Results for the Three Months Ended March 31, 2025 [Japanese GAAP]
May 15, 2025
Company name: ISEKI&CO., LTD. Listing: Tokyo Stock Exchange Securities code: 6310
URL: https://www.iseki.co.jp
Representative: Shiro Tomiyasu ,President and Representative Director
Inquiries: Yoshikazu Ogusu ,General Manager of Financial Department Telephone: +81-3-5604-7671
Scheduled date to commence dividend payments: -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 Three Months Ended March 31, 2025 (January 1, 2025 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
Three months ended
March 31, 2025
March 31, 2024
Millions of yen
46,177
43,972
%
5.0
(4.2)
Millions of yen
1,381
734
%
88.1
(56.6)
Millions of yen
980
920
%
6.5
(29.3)
Millions of yen
1,515
446
%
239.0
(37.4)
(Note) Comprehensive income:
Three months ended March 31, 2025:
¥
1,782 million [
14.2%]
Three months ended March 31, 2024:
¥
1,561 million [
41.6%]
Basic earnings per share
Diluted earnings per share
Three months ended
Yen
Yen
March 31, 2025
66.99
66.98
March 31, 2024
19.76
19.76
Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
As of
March 31, 2025
December 31, 2024
Millions of yen
216,231
206,132
Millions of yen
73,241
71,837
%
31.9
32.8
Yen
3,048.46
2,986.80
(Reference) Equity: As of March 31, 2025:
¥
68,962 million
As of December 31, 2024:
¥
67,568 million
Dividends
Annual dividends
1st quarter-end
2nd quarter-end
3rd quarter-end
Year-end
Total
Fiscal year ended December 31, 2024
Fiscal year ending December 31, 2025
Yen
-
-
Yen
-
Yen
-
Yen
30.00
Yen
30.00
Fiscal year ending December 31, 2025
(Forecast)
-
-
30.00
30.00
(Note) Revision to the forecast for dividends announced most recently: None
Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2025(January 1, 2025 to December 31, 2025)
(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 170,500 | % 1.2 | Millions of yen 2,600 | % 35.4 | Millions of yen 1,800 | % 14.1 | Millions of yen 1,300 | % - | Yen 57.47 |
(Note) Revision to the financial results forecast announced most recently: None
* Notes:
Significant changes in the scope of consolidation during the period: Yes
Newly included:
1
(Company name: PREMIUM TURF-CARE LIMITED
)
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: Yes
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): March 31, 2025: 22,984,993 shares
December 31, 2024: 22,984,993 shares
Number of treasury shares at the end of the period:
March 31, 2025: 362,815 shares
December 31, 2024: 362,784 shares
Average number of shares outstanding during the period:
Three months ended March 31, 2025: 22,622,190 shares
Three months ended March 31, 2024: 22,618,744 shares
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes(voluntary)
Quarterly Consolidated Financial Statements Quarterly Consolidated Balance Sheets
(Millions of yen)
As of December 31, 2024
As of March 31, 2025
Assets
Current assets
Cash and deposits 8,200 7,789
Notes and accounts receivable - trade, and contract assets | 25,435 | 36,590 |
Merchandise and finished goods | 56,389 | 57,122 |
Work in process | 9,155 | 9,225 |
Raw materials and supplies | 1,392 | 1,334 |
Other | 5,106 | 3,771 |
Allowance for doubtful accounts | (60) | (75) |
Total current assets | 105,618 | 115,757 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 24,460 | 23,916 |
Land | 44,271 | 44,076 |
Other, net | 12,664 | 13,044 |
Total property, plant and equipment | 81,396 | 81,037 |
Intangible assets | 2,975 | 3,000 |
Investments and other assets | ||
Investment securities | 9,864 | 10,169 |
Retirement benefit asset | 4,852 | 4,819 |
Other | 2,091 | 2,100 |
Allowance for doubtful accounts | (667) | (652) |
Total investments and other assets | 16,141 | 16,436 |
Total non-current assets | 100,513 | 100,474 |
Total assets | 206,132 | 216,231 |
(Millions of yen)
As of December 31, 2024
As of March 31, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade | 11,245 | 15,753 |
Electronically recorded obligations - operating | 14,008 | 11,962 |
Short-term loans payable | 35,068 | 42,847 |
Current portion of long-term loans payable | 9,775 | 9,164 |
Income taxes payable | 1,042 | 754 |
Provision for bonuses | 614 | 1,009 |
Accounts payable - other | 10,262 | 10,557 |
Provision for business structure reform | 562 | 562 |
Other | 10,597 | 11,236 |
Total current liabilities | 93,178 | 103,849 |
Non-current liabilities | ||
Long-term loans payable | 23,266 | 22,082 |
Deferred tax liabilities for land revaluation | 4,003 | 4,122 |
Provision for retirement benefits for directors (and other officers) | 108 | 107 |
Provision for share awards for directors (and other officers) | 35 | 38 |
Retirement benefit liability | 5,795 | 5,800 |
Asset retirement obligations | 999 | 995 |
Other | 6,907 | 5,994 |
Total non-current liabilities | 41,116 | 39,140 |
Total liabilities | 134,294 | 142,989 |
Net assets | ||
Shareholders' equity | ||
Share capital | 23,344 | 23,344 |
Capital surplus | 13,249 | 13,060 |
Retained earnings | 16,643 | 17,903 |
Treasury shares | (584) | (584) |
Total shareholders' equity | 52,653 | 53,724 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 3,014 | 3,693 |
Deferred gains or losses on hedges | (26) | (23) |
Revaluation reserve for land | 8,621 | 8,503 |
Foreign currency translation adjustment | 2,193 | 2,003 |
Remeasurements of defined benefit plans | 1,111 | 1,061 |
Total accumulated other comprehensive income | 14,914 | 15,238 |
Subscription rights to shares | 8 | 8 |
Non-controlling interests | 4,261 | 4,270 |
Total net assets | 71,837 | 73,241 |
Total liabilities and net assets | 206,132 | 216,231 |
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 March 31, 2024 | ended March 31, 2025 | |
Net sales 43,972 | 46,177 | |
Cost of sales 30,925 | 32,374 | |
Gross profit 13,047 | 13,803 | |
Selling, general and administrative expenses 12,313 | 12,421 | |
Operating profit 734 | 1,381 | |
Non-operating income | ||
Interest income 49 | 46 | |
Dividend income 26 | 25 | |
Rental income 48 | 50 | |
Foreign exchange gains 276 | - | |
Other 284 | 104 | |
Total non-operating income 684 | 227 | |
Non-operating expenses | ||
Interest expenses 353 | 379 | |
Foreign exchange losses - | 188 | |
Share of loss of entities accounted for using equity 73 | ||
method | ||
Commission for syndicated loans | 18 | 18 |
Other | 51 | 42 |
Total non-operating expenses | 497 | 628 |
Ordinary profit | 920 | 980 |
Extraordinary income | ||
Gain on sale of non-current assets | 35 | 872 |
Total extraordinary income | 35 | 872 |
Extraordinary losses | ||
Loss on sale and retirement of non-current assets | 63 | 22 |
Impairment losses | 29 | - |
Other | 1 | - |
Total extraordinary losses | 94 | 22 |
Profit before income taxes | 861 | 1,830 |
Income taxes - current | 385 | 499 |
Income taxes - deferred | (57) | (256) |
Total income taxes | 328 | 243 |
Profit | 533 | 1,587 |
Profit attributable to non-controlling interests | 86 | 71 |
Profit attributable to owners of parent | 446 | 1,515 |
-
(Millions of yen) | |||
For the three months | For the three months | ||
ended March 31, 2024 | ended March 31, 2025 | ||
Profit | 533 | 1,587 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 625 | 678 | |
Deferred gains or losses on hedges | (30) | 8 | |
Revaluation reserve for land | - | (118) | |
Foreign currency translation adjustment | 487 | (324) | |
Remeasurements of defined benefit plans, net of tax | (49) | (49) | |
Share of other comprehensive income of entities | |||
accounted for using equity method | |||
Total other comprehensive income | 1,027 | 195 | |
Comprehensive income | 1,561 | 1,782 | |
Comprehensive income attributable to | |||
Quarterly Consolidated Statements of Comprehensive Income (For the three months)
(5) -
Comprehensive income attributable to owners of parent
1,349 1,770
Comprehensive income attributable to non-controlling interests
211
11