Keihanshin Building : Consolidated Financial Results for the Six Months Ended September 30, 2021

Published October 22, 2021 at 6:33 a.m. UTC

Source: MarketScreener

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Six Months Ended September 30, 2021

[Japanese GAAP]

October 22, 2021

Company name: Keihanshin Building Co., Ltd.

Stock exchange listing: Tokyo

Code number: 8818

URL: http://www.keihanshin.co.jp/english/

Representative: Koichi Minami, President

Contact: Toshiki Tabuchi, Operating Officer, General Manager (Accounting Dept)

Phone: 06-6202-7331

Scheduled date of filing quarterly securities report: October 29, 2021

Scheduled date of commencing dividend payments: December 03, 2021

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: Yes

(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the Six Months Ended September 30, 2021 (April 01, 2021 to September 30, 2021)

(1) Consolidated Operating Results		(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit		Ordinary profit		Profit attributable to
					owners of parent

Six months ended		Million yen		%	Million yen			%	Million yen		%	Million yen	%
September 30, 2021		8,824		15.3	2,361		(20.9)	2,243	(23.2)	1,570	(39.0)
September 30, 2020		7,654		(0.5)	2,986		5.6	2,919		5.7	2,575	7.7
(Note) Comprehensive income: Six months ended September 30, 2021:	¥	2,008 million	[(61.9) %]
		Six months ended September 30, 2020:	¥	5,267 million	[ 180.7 %]

		Basic earnings	Diluted earnings per
		per share		share
Six months ended				Yen			Yen
September 30, 2021				30.93			30.82
September 30, 2020				49.56			49.38	September 30, 2021:	¥	3,386 million	[ 8.3 %]
(Reference) Ordinary income after tax before depreciation: Six months ended
					Six months ended September 30, 2020:	¥	3,126 million	[ 3.9 %]
The Company has positioned ordinary income after tax before depreciation as an important management indicator.
Ordinary income after tax before depreciation = (ordinary profit	× (1-effective tax rate) + depreciation)
(2) Consolidated Financial Position
		Total assets	Net assets			Capital adequacy ratio

As of			Million yen		Million yen				%
September 30, 2021		150,083	69,415			46.2
March 31, 2021		154,043	70,539			45.7
(Reference) Equity: As of	September 30, 2021: ¥	69,295 million
As of	March 31, 2021:	¥	70,419 million

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, 2021	-	13.50	-	17.50	31.00
Fiscal year ending March 31, 2022	-	15.50

Fiscal year ending March 31, 2022			-	17.50	33.00
(Forecast)

(Note) Revision to the forecast for dividends	announced most	recently: Yes

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings
		owners of parent	per share

	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	17,600		14.8	5,100	(3.7)	4,900	(3.6)	4,300	(47.9)	85.75
(Note) Revision to the financial results forecast announced most recently: Yes
(Reference) Ordinary income after tax before depreciation : ¥ 7,000 million [ 20.8% ]

* Notes:

Changes in significant subsidiaries during the six months ended September 30, 2021 (changes in specified subsidiaries resulting in changes in scope of consolidation): No
Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No
Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to the revision of accounting standards: Yes
2. Changes in accounting policies other than 1) above: No
3. Changes in accounting estimates: No
4. Retrospective restatement: No
Total number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

September 30, 2021:	52,184,498	shares
March 31, 2021:	52,184,498	shares

Total number of treasury shares at the end of the period: September 30, 2021: 2,036,568 shares

March 31, 2021:

481,029 shares

3) Average number of shares during the period:

Six months ended September 30, 2021: 50,792,900 shares

Six months ended September 30, 2020: 51,979,751 shares

*This summary is not subject to quarterly review procedures by a certified public accountant or audit firm.

*Appropriate use of business forecasts ; other special items

Information described in this document, such as projections, is prepared based on available information at the time of the release this

document and certain assumptions that the Company judged as rational. Actual results may be significantly different due to various

factors.

Keihanshin Building Co., Ltd.

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

			(Thousand yen)
		As of March 31,2021	As of September 30,2021

Assets
	Current assets
	Cash and deposits	21,550,649	6,644,204
	Notes and accounts receivable - trade	331,797	395,313
	Other	720,947	2,138,661
	Total current assets	22,603,394	9,178,179
	Non-current assets
	Property, plant and equipment
	Buildings and structures	70,499,470	99,541,569
	Accumulated depreciation	(39,354,505)	(41,034,464)
	Buildings and structures, net	31,144,965	58,507,105
	Land	52,424,697	52,941,954
	Buildings in trust	3,343,060	3,343,060
	Accumulated depreciation	(1,418,331)	(1,502,310)
	Buildings in trust, net	1,924,729	1,840,750
	Land in trust	11,038,280	11,038,280
	Construction in progress	19,990,264	934,740
	Other	932,810	1,025,855
	Accumulated depreciation	(689,991)	(709,041)
	Other, net	242,818	316,813
	Total property, plant and equipment	116,765,755	125,579,644
	Intangible assets	125,912	123,984
	Investments and other assets
	Investment securities	11,910,639	12,511,221
	Other	2,637,680	2,690,857
	Total investments and other assets	14,548,320	15,202,078
	Total non-current assets	131,439,988	140,905,707
	Total assets	154,043,383	150,083,886

			Keihanshin Building Co., Ltd.
				(Thousand yen)
			As of March 31,2021	As of September 30,2021

Liabilities
	Current liabilities
		Notes and accounts payable - trade	3,533	-
		Short-term borrowings	4,285,200	4,113,300
		Income taxes payable	3,043,744	841,224
		Provisions	38,609	47,017
		Other	2,207,845	2,652,081
		Total current liabilities	9,578,931	7,653,622
	Non-current liabilities
		Bonds payable	45,000,000	45,000,000
		Long-term borrowings	17,359,950	16,558,300
		Retirement benefit liability	63,770	66,246
		Asset retirement obligations	114,570	114,757
		Other	11,386,470	11,275,188
		Total non-current liabilities	73,924,761	73,014,491
	Total liabilities	83,503,692	80,668,114
Net assets
	Shareholders' equity
		Share capital	9,827,611	9,827,611
		Capital surplus	9,199,840	9,199,840
		Retained earnings	50,938,631	51,603,455
		Treasury shares	(697,656)	(2,924,281)
		Total shareholders' equity	69,268,426	67,706,625
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	5,683,794	6,121,676
		securities

		Revaluation reserve for land	(4,532,546)	(4,532,546)
		Total accumulated other comprehensive income	1,151,248	1,589,130
	Share acquisition rights	120,015	120,015
	Total net assets	70,539,690	69,415,771
Total liabilities and net assets	154,043,383	150,083,886

Keihanshin Building Co., Ltd.

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the six months)

		(Thousand yen)
	For the six months	For the six months
	ended September 30,2020	ended September 30,2021

Net sales	7,654,858	8,824,083
Cost of sales	3,961,974	5,712,444
Gross profit	3,692,883	3,111,639
Selling, general and administrative expenses	706,871	750,503
Operating profit	2,986,012	2,361,135
Non-operating income
Interest income	374	98
Dividend income	157,739	140,907
Other	6,694	6,477
Total non-operating income	164,808	147,484
Non-operating expenses
Interest expenses	78,283	84,776
Interest on bonds	147,466	169,201
Other	5,674	11,206
Total non-operating expenses	231,424	265,184
Ordinary profit	2,919,396	2,243,434
Extraordinary income
Gain on sale of non-current assets	803,567	-
Contribution for construction	-	20,300
Gain on sale of investment securities	-	10,852
Total extraordinary income	803,567	31,152
Extraordinary losses
Loss on retirement of non-current assets	5,866	3,610
Loss on sale of non-current assets	-	317
Total extraordinary losses	5,866	3,928
Profit before income taxes	3,717,097	2,270,659
Income taxes - current	1,072,007	792,346
Income taxes - deferred	69,096	(92,500)
Total income taxes	1,141,104	699,845
Profit	2,575,993	1,570,813
Profit attributable to owners of parent	2,575,993	1,570,813

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