Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results
for the Six Months Ended September 30, 2024
[Japanese GAAP]
November 12, 2024
Company name: LECIP HOLDINGS CORPORATION | |
Listing: Tokyo, Nagoya | |
Securities code: 7213 | |
URL: https://www.lecip.co.jp/hd/ | |
Representative: Makoto Sugimoto | President and CEO |
Inquiries: Norihiro Shinagawa | Managing Director |
Telephone: +81-58-324-3121
Scheduled date to file semi-annual securities report: November 13, 2024
Scheduled date to commence dividend payments: -
Preparation of supplementary material on financial results: None
Holding of financial results briefing: Yes
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2024 (April 1, 2024 to September 30, 2024)
(1) Consolidated Operating Results | (Percentages indicate year-on-year changes.) | ||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||
owners of parent | |||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
September 30, 2024 | 10,310 | 41.8 | 1,349 | - | 1,176 | 170.8 | 700 | 183.8 | |||
September 30, 2023 | 7,272 | 43.0 | 118 | - | 434 | - | 246 | - |
(Note) Comprehensive income: | Six months ended September 30, 2024: |
Six months ended September 30, 2023: |
¥ | 801 million | [ | -%] |
¥ | 36 million | [ | -%] |
Basic earnings | Diluted earnings per | |||||
per share | share | |||||
Six months ended | Yen | Yen | ||||
September 30, 2024 | 49.18 | - | ||||
September 30, 2023 | 18.22 | - | ||||
(2) Consolidated Financial Position | ||||||
Total assets | Net assets | Capital adequacy ratio | Net assets per share | |||
As of | Millions of yen | Millions of yen | % | Yen | ||
September 30, 2024 | 19,311 | 8,660 | 44.8 | 563.21 | ||
March 31, 2024 | 19,948 | 6,881 | 34.5 | 505.94 | ||
(Reference) Equity: As of | September 30, 2024: | ¥ | 8,660 million | |||
As of | March 31, 2024: | ¥ | 6,881 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, 2024 | - | 0.00 | - | 8.50 | 8.50 | |||
Fiscal year ending March 31, 2025 | - | 0.00 | ||||||
Fiscal year ending March 31, 2025 | - | 10.00 | 10.00 | |||||
(Forecast) | ||||||||
(Note) Revision to the forecast for dividends | announced most | recently: | Yes |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 1, 2024 to March 31, 2025) (Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | ||||||
owners of parent | per share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Full year | 24,000 | 5.8 | 2,000 | (36.8) | 1,800 | (49.4) | 950 | (60.7) | 64.14 | |
(Note) Revision to the financial results forecast announced most recently: | Yes | |||||||||
* Notes: | ||||||||||
(1) Significant changes in the scope of consolidation during the period: | None |
- Adoption of accounting treatment specific to the preparation of semi-annual 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: None
- Changes in accounting policies due to other reasons: None
- 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):
September 30, 2024: | 15,891,500 | shares |
March 31, 2024: | 14,178,200 | shares |
2) Number of treasury shares at the end of the period: | ||
September 30, 2024: | 514,676 | shares |
March 31, 2024: | 576,919 | shares |
3) Average number of shares outstanding during the period: | ||
Six months ended September 30, 2024: | 14,246,961 | shares |
Six months ended September 30, 2023: | 13,547,995 | shares |
- Semi-annualfinancial results reports are exempt from review conducted by certified public accountants or an audit firm.
- Proper use of earnings forecasts, and other special matters
The forecasts given in this document are based on the current available information in the company and certain reasonable assumptions of the company. And we don'tcommit to achieve these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.
Semi-annual Consolidated Financial Statements
Semi-annual Consolidated Balance Sheets
(Thousands of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 2,964,080 | 1,848,663 |
Notes and accounts receivable - trade | 6,133,234 | 3,570,355 |
Merchandise and finished goods | 1,625,948 | 3,316,156 |
Work in process | 700,313 | 1,036,396 |
Raw materials and supplies | 4,174,775 | 4,749,140 |
Other | 875,019 | 898,172 |
Allowance for doubtful accounts | (7) | (4) |
Total current assets | 16,473,364 | 15,418,880 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 746,811 | 1,423,140 |
Other, net | 836,869 | 818,061 |
Total property, plant and equipment | 1,583,680 | 2,241,201 |
Intangible assets | 403,136 | 340,469 |
Investments and other assets | ||
Investment securities | 763,331 | 697,769 |
Other | 769,082 | 656,792 |
Allowance for doubtful accounts | (43,921) | (43,271) |
Total investments and other assets | 1,488,492 | 1,311,290 |
Total non-current assets | 3,475,309 | 3,892,961 |
Total assets | 19,948,674 | 19,311,842 |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 1,782,618 | 1,774,632 |
Electronically recorded obligations - operating | 2,984,106 | 2,874,562 |
Short-term borrowings | 1,686,940 | 825,680 |
Current portion of long-term borrowings | 633,841 | 542,167 |
Income taxes payable | 1,749,261 | 359,402 |
Provision for bonuses | 537,982 | 434,681 |
Provision for product warranties | 79,892 | 95,597 |
Other | 2,446,517 | 2,873,141 |
Total current liabilities | 11,901,159 | 9,779,865 |
Non-current liabilities | ||
Long-term borrowings | 560,773 | 297,307 |
Provision for management board incentive plan | 80,268 | 80,268 |
trust | ||
Retirement benefit liability | 40,180 | 37,780 |
Other | 484,836 | 456,259 |
Total non-current liabilities | 1,166,057 | 871,614 |
Total liabilities | 13,067,217 | 10,651,479 |
(Thousands of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,190,955 | 1,718,223 |
Capital surplus | 1,227,276 | 1,770,766 |
Retained earnings | 4,802,404 | 5,384,873 |
Treasury shares | (251,346) | (226,107) |
Total shareholders' equity | 6,969,290 | 8,647,755 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale | 257,589 | 193,028 |
securities | ||
Foreign currency translation adjustment | (345,422) | (180,421) |
Total accumulated other comprehensive income | (87,833) | 12,607 |
Total net assets | 6,881,457 | 8,660,362 |
Total liabilities and net assets | 19,948,674 | 19,311,842 |
Semi-annual Consolidated Statements of Income and Comprehensive Income
(Thousands of yen) | ||
For the six months | For the six months | |
ended September 30, 2023 | ended September 30, 2024 | |
Net sales | 7,272,218 | 10,310,898 |
Cost of sales | 5,081,773 | 6,551,600 |
Gross profit | 2,190,445 | 3,759,298 |
Selling, general and administrative expenses | 2,071,835 | 2,409,462 |
Operating profit | 118,609 | 1,349,835 |
Non-operating income | ||
Dividend income | 10,238 | 11,118 |
Foreign exchange gains | 319,078 | - |
Subsidy income | 90 | 3,344 |
Gains from technical support | - | 30,000 |
Other | 6,399 | 7,441 |
Total non-operating income | 335,806 | 51,904 |
Non-operating expenses | ||
Interest expenses | 13,844 | 10,769 |
Foreign exchange losses | - | 187,567 |
Payment for employment of the disabled | 3,250 | 2,500 |
Late payment default payment | 2,853 | - |
Technical support expenses | - | 10,508 |
Share issuance costs | - | 13,942 |
Other | 135 | 70 |
Total non-operating expenses | 20,083 | 225,357 |
Ordinary profit | 434,333 | 1,176,382 |
Extraordinary losses | ||
Impairment losses | 9,434 | 6,393 |
Loss on abandonment of non-current assets | 198 | 616 |
Total extraordinary losses | 9,633 | 7,010 |
Profit before income taxes | 424,700 | 1,169,371 |
Income taxes - current | 198,466 | 347,855 |
Income taxes - deferred | (20,599) | 120,878 |
Total income taxes | 177,866 | 468,734 |
Profit | 246,833 | 700,637 |
Profit attributable to owners of parent | 246,833 | 700,637 |
(Thousands of yen) | ||
For the six months | For the six months | |
ended September 30, 2023 | ended September 30, 2024 | |
Profit | 246,833 | 700,637 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 17,203 | (64,560) |
Foreign currency translation adjustment | (227,340) | 165,001 |
Total other comprehensive income | (210,137) | 100,440 |
Comprehensive income | 36,696 | 801,078 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of | 36,696 | 801,078 |
parent | ||
Comprehensive income attributable to non-controlling | - | - |
interests | ||
Semi-annual Consolidated Statements of Cash Flows
(Thousands of yen) | ||
For the six months | For the six months | |
ended September 30, 2023 | ended September 30, 2024 | |
Cash flows from operating activities | ||
Profit before income taxes | 424,700 | 1,169,371 |
Depreciation | 216,619 | 258,014 |
Impairment losses | 9,434 | 6,393 |
Increase (decrease) in allowance for doubtful accounts | (600) | (652) |
Increase (decrease) in provision for bonuses | (3,992) | (103,255) |
Increase (decrease) in provision for product warranties | 5,339 | 18,619 |
Increase (decrease) in retirement benefit liability | 3,390 | (2,400) |
Interest and dividend income | (10,244) | (11,156) |
Interest expenses | 13,844 | 10,769 |
Subsidy income | (90) | (3,344) |
Technical support income | - | (19,491) |
Foreign exchange losses (gains) | (310,842) | 193,203 |
Loss on abandonment of non-current assets | 198 | 616 |
Decrease (increase) in trade receivables | 754,557 | 2,539,486 |
Decrease (increase) in inventories | (2,088,592) | (2,716,845) |
Trust beneficiary right | (61,745) | 81,990 |
Decrease (increase) in advance payments to suppliers | (161,980) | 25,187 |
Increase (decrease) in trade payables | 875,600 | (86,713) |
Increase (decrease) in accounts payable - other | (51,918) | (258,690) |
Increase (decrease) in advances received | (53,880) | 728,210 |
Increase (decrease) in accrued consumption taxes | (49,612) | (511,783) |
Other, net | 26,316 | 58,233 |
Subtotal | (463,499) | 1,375,763 |
Interest and dividends received | 10,244 | 11,156 |
Interest paid | (14,052) | (10,288) |
Subsidies received | 90 | 3,344 |
Proceeds from technical support income | - | 19,491 |
Income taxes refund (paid) | 72,122 | (1,735,233) |
Net cash provided by (used in) operating activities | (395,094) | (335,765) |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (95,600) | (362,099) |
Purchase of intangible assets | (34,619) | (50,978) |
Purchase of investment securities | (4,507) | (26,022) |
Other, net | 27,724 | (709) |
Net cash provided by (used in) investing activities | (107,002) | (439,810) |
Cash flows from financing activities | ||
Net increase (decrease) in short-term borrowings | 342,316 | (870,000) |
Repayments of long-term borrowings | (271,680) | (355,140) |
Proceeds from issuance of shares | - | 1,040,593 |
Purchase of treasury shares | (29) | (46) |
Dividends paid | (68,990) | (117,498) |
Other, net | (55,926) | (40,911) |
Net cash provided by (used in) financing activities | (54,309) | (343,002) |
Effect of exchange rate change on cash and cash | 22,639 | 3,161 |
equivalents | ||
Net increase (decrease) in cash and cash equivalents | (533,767) | (1,115,417) |
Cash and cash equivalents at beginning of period | 3,179,471 | 2,964,080 |
Cash and cash equivalents at end of period | 2,645,703 | 1,848,663 |