Summary of Financial Results for the First Quarter of the Fiscal Year
Ending December 31, 2023
May 9, 2023
KOKUYO Co., Ltd.
© 2023 KOKUYO Co.,Ltd.
Contents
- First Quarter FY2023 Results
- Full-YearFY2023 Forecasts
- Topics and Trends
- Reference Materials
-
The business segments are as follows:
Furniture Businesses: FN
Business Supply Distribution: BS
Stationery Businesses: ST
Interior Retail Businesses: IR - Unless otherwise indicated, monetary figures are rounded down to the nearest hundred million yen. As such, the sum of the figures in a breakdown may not match the stated total.
© 2023 KOKUYO Co.,Ltd.
Executive Summary
[First Quarter FY2023 Results]
- Performance was generally in line with expectations. We posted revenue and profit growth.
- Furniture businesses: In Japan, we capitalized on brisk office demand. Overseas, the company we acquired last year started contributing to consolidated earnings.
- Stationery businesses: Overseas expansion accelerated with strong order growth in the Indian stationery business.
- Net income remained high, although it was down YoY because of last year's recorded of gain on sales of securities.
[Full-Year FY2023 Forecasts]
- Forecasts remain unchanged from the initial forecasts, announced on February 13, 2023.
- To ensure progress toward our medium-term goals in the second year of the third medium-term plan, we will accelerate our strategy for full-scaleglobal expansion, adding to the contribution of the acquired company to full-year consolidated earnings.
- Net income will decrease relative to the all-time high in FY2022, when we recorded gain on sales of investment securities.
- For the dividend, we will pay 58 yen per share (payout ratio of 42.9%) in accordance with our policy of paying a higher amount than the previous year with a payout ratio of at least 40%.
[Topics and Trends]
- Brand strategy: We launched a series of TV ads to communicate our purpose: Presenting a tomorrow you can't wait for.
- Nurturing Business Ideas for New Needs: We launched Hello! Family.
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© 2023 KOKUYO Co.,Ltd.
1. First Quarter FY2023 Results
© 2023 KOKUYO Co.,Ltd.
First Quarter FY2023 Results: Year on Year Comparisons
Net sales and operating income increased YoY.
Net income decreased YoY. The decrease is a comedown from the recorded gain on sales of
investment securities in FY2022.
Jan-Mar FY2022
result
Jan-Mar FY2023
result
YoY
change
(Billions of yen)
Net sales | 86.4 | 92.5 | +7.1% | |
Gross profit | 34.9 | 37.1 | +6.2% | |
(ratio) | 40.4% | 40.1% | ||
SG&A expenses | 24.9 | 26.3 | +5.6% | |
(ratio) | 28.8% | 28.4% | ||
Operating income | 10.0 | 10.8 | +7.7% | |
(ratio) | 11.6% | 11.7% | ||
Ordinary income | 10.6 | 11.2 | +5.0% | |
(ratio) | 12.4% | 12.1% | ||
Profit attributable to owners | 7.6 | 7.6 | -0.2% | |
of parent | ||||
(ratio) | 8.9% | 8.3% | 5 | |
© 2023 KOKUYO Co.,Ltd. |