Summary of Consolidated Financial Results for the Year Ended March 31, 2025 170.73 KB

Cash and deposits

8,874

8,445

Notes receivable - trade

614

303

Accounts receivable - trade

16,610

17,858

Electronically recorded monetary claims - operating

4,010

3,596

Accounts receivable from completed construction contracts

7,530

8,263

Merchandise and finished goods

3,198

2,365

Work in process

694

566

Costs on construction contracts in progress

95

93

Raw materials and supplies

1,494

1,565

Other

2,750

3,044

Allowance for doubtful accounts

(24)

(42)

Total current assets

45,850

46,060

Non-current assets

Property, plant and equipment

Buildings and structures

21,291

21,968

Accumulated depreciation

(11,789)

(12,158)

Buildings and structures, net

9,502

9,809

Machinery, equipment and vehicles

7,960

8,058

Accumulated depreciation

(6,693)

(6,966)

Machinery, equipment and vehicles, net

1,267

1,091

Tools, furniture and fixtures

2,068

2,163

Accumulated depreciation

(1,620)

(1,720)

Tools, furniture and fixtures, net

447

442

Land

3,928

4,058

Leased assets

1,898

2,025

Accumulated depreciation

(992)

(1,151)

Leased assets, net

906

873

Construction in progress

8

189

Total property, plant and equipment

16,060

16,465

Intangible assets

Software

609

667

Leased assets

258

212

Telephone subscription right

36

36

Other

113

70

Total intangible assets

1,017

985

Investments and other assets

Investment securities

29,365

27,440

Guarantee deposits

1,366

1,427

Deferred tax assets

289

297

Other

986

868

Allowance for doubtful accounts

(65)

(50)

Total investments and other assets

31,942

29,984

Total non-current assets

49,019

47,436

Total assets

94,869

93,496

Notes and accounts payable - trade

11,118

11,146

Electronically recorded obligations - operating

2,105

1,772

Accounts payable for construction contracts

2,553

2,342

Short-term borrowings

13,647

14,085

Lease liabilities

395

358

Income taxes payable

847

766

Accrued consumption taxes

514

593

Advances received on construction contracts in progress

177

154

Provision for bonuses for directors (and other officers)

183

222

Provision for loss on orders received

17

4

Provision for warranties for completed construction

26

15

Provision for product warranties

-

284

Provision for shareholder benefit program

59

73

Other

4,779

4,967

Total current liabilities

36,427

36,786

Non-current liabilities

Long-term borrowings

3,929

2,464

Deposit received for guarantee

141

144

Lease liabilities

913

826

Deferred tax liabilities

5,004

4,317

Provision for retirement benefits for directors (and other officers)

514

591

Retirement benefit liability

468

380

Asset retirement obligations

276

279

Other

38

133

Total non-current liabilities

11,286

9,137

Total liabilities

47,713

45,924

Net assets

Shareholders' equity

Share capital

4,808

4,808

Capital surplus

3,357

3,390

Retained earnings

26,274

28,160

Treasury shares

(42)

(42)

Total shareholders' equity

34,396

36,316

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

11,878

10,508

Deferred gains or losses on hedges

18

0

Foreign currency translation adjustment

695

508

Remeasurements of defined benefit plans

23

44

Total accumulated other comprehensive income

12,615

11,062

Non-controlling interests

143

192

Total net assets

47,156

47,572

Total liabilities and net assets

94,869

93,496

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2024

March 31, 2025

Net sales

95,857

103,072

Cost of sales

77,460

83,207

Gross profit

18,396

19,864

Selling, general and administrative expenses

Commission Charges

1,570

1,715

Freight and incidental costs

1,126

1,207

Travel and transportation expenses

587

662

Remuneration for directors (and other officers)

592

614

Employees' salaries

4,355

4,612

Employees' bonuses

1,583

1,727

Retirement benefit expenses

243

261

Provision for bonuses for directors (and other officers)

192

226

Provision for retirement benefits for directors (and other officers)

64

83

Welfare expenses

1,439

1,533

Rent expenses

1,352

1,383

Depreciation

696

722

Other

2,924

3,039

Total selling, general and administrative expenses

16,729

17,790

Operating profit

1,666

2,074

Non-operating income

Interest income

76

51

Dividend income

457

514

Gain on investments in investment partnerships

17

-

Share of profit of entities accounted for using equity method

250

158

Purchase discounts

68

68

Rent income

158

155

Foreign exchange gains

36

106

Other

148

143

Total non-operating income

1,214

1,197

Non-operating expenses

Interest expenses

194

172

Rent expenses

114

114

Loss on investments in investment partnerships

-

207

Provision of allowance for doubtful accounts

-

49

Other

128

69

Total non-operating expenses

437

614

Ordinary profit

2,443

2,656

Fiscal year ended

March 31, 2024

Fiscal year ended

March 31, 2025

Extraordinary income

Gain on sale of non-current assets

151

316

Gain on sale of investment securities

467

527

Compensation income

335

-

Subsidy income

54

204

Gain on change in equity

-

69

Gain on extinguishment of tie-in shares

-

22

Total extraordinary income

1,008

1,140

Extraordinary losses

Loss on sale of non-current assets

1

1

Loss on retirement of non-current assets

103

152

Loss on sale of investment securities

4

6

Loss on valuation of investment securities

12

-

Impairment losses

140

12

Loss on revision of retirement benefit plan

-

47

Office relocation expenses

8

-

Loss on liquidation of subsidiaries and associates

5

-

Total extraordinary losses

276

220

Profit before income taxes

3,175

3,576

Income taxes - current

1,234

1,384

Income taxes - deferred

(145)

(272)

Total income taxes

1,088

1,112

Profit

2,086

2,463

Profit attributable to non-controlling interests

17

23

Profit attributable to owners of parent

2,068

2,440

Consolidated statements of comprehensive income

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2024

March 31, 2025

Profit

2,086

2,463

Other comprehensive income

Valuation difference on available-for-sale securities

3,583

(1,387)

Deferred gains or losses on hedges

10

(17)

Foreign currency translation adjustment

359

(190)

Share of other comprehensive income of entities accounted

59

39

for using equity method

Total other comprehensive income

4,011

(1,556)

Comprehensive income

6,098

907

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

6,080

887

Comprehensive income attributable to non-controlling

18

20

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders'

equity

Balance at beginning of period

4,808

3,357

24,760

(42)

32,882

Changes during period

Dividends of surplus

(554)

(554)

Profit attributable to owners of

parent

2,068

2,068

Purchase of treasury shares

(0)

(0)

Net changes in items other

than shareholders' equity

Total changes during period

-

-

1,514

(0)

1,514

Balance at end of period

4,808

3,357

26,274

(42)

34,396

Accumulated other comprehensive income

Non-controlling interests

Total net assets

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Foreign currency translation adjustment

Remeasurements of defined benefit plans

Total accumulated other comprehensive

income

Balance at beginning of period

8,246

8

336

13

8,604

125

41,612

Changes during period

Dividends of surplus

(554)

Profit attributable to owners of

parent

2,068

Purchase of treasury shares

(0)

Net changes in items other

than shareholders' equity

3,632

10

359

10

4,011

17

4,029

Total changes during period

3,632

10

359

10

4,011

17

5,543

Balance at end of period

11,878

18

695

23

12,615

143

47,156

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders'

equity

Balance at beginning of period

4,808

3,357

26,274

(42)

34,396

Changes during period

Dividends of surplus

(554)

(554)

Profit attributable to owners of

parent

2,440

2,440

Purchase of treasury shares

(0)

(0)

Disposal of treasury shares

0

0

0

Change in ownership interest

of parent due to transactions with non-controlling interests

33

33

Net changes in items other

than shareholders' equity

Total changes during period

-

33

1,886

0

1,919

Balance at end of period

4,808

3,390

28,160

(42)

36,316

Accumulated other comprehensive income

Non-controlling interests

Total net assets

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Foreign currency translation adjustment

Remeasurements of defined benefit plans

Total accumulated other comprehensive

income

Balance at beginning of period

11,878

18

695

23

12,615

143

47,156

Changes during period

Dividends of surplus

(554)

Profit attributable to owners of

parent

2,440

Purchase of treasury shares

(0)

Disposal of treasury shares

0

Change in ownership interest of parent due to transactions

with non-controlling interests

33

Net changes in items other

than shareholders' equity

(1,369)

(17)

(187)

21

(1,553)

49

(1,504)

Total changes during period

(1,369)

(17)

(187)

21

(1,553)

49

415

Balance at end of period

10,508

0

508

44

11,062

192

47,572

Share of loss (profit) of entities accounted for using equity

method

(250) (158)

Loss (gain) on investments in investment partnerships

(17)

207

Loss (gain) on valuation of investment securities

12

-

Increase (decrease) in allowance for doubtful accounts

1

1

Increase (decrease) in provision for retirement benefits for

directors (and other officers)

6 77

Increase (decrease) in retirement benefit liability

63

(83)

Increase (decrease) in provision for loss on orders received

6

(13)

Increase (decrease) in provision for product warranties

-

284

Increase (decrease) in provision for shareholder benefit program

(4)

14

Interest and dividend income

(533)

(565)

Interest expenses

194

172

Loss (gain) on sale of investment securities

(462)

(521)

Loss (gain) on sale of non-current assets

(149)

(315)

Loss on retirement of non-current assets

103

152

Compensation income

(335)

-

Subsidy income

(54)

(204)

Loss (gain) on change in equity

-

(69)

Loss (gain) on extinguishment of tie-in shares

-

(22)

Loss (gain) on liquidation of subsidiaries and associates

5

-

Decrease (increase) in trade receivables

(2,098)

67

Decrease (increase) in inventories

725

974

Increase (decrease) in trade payables

1,798

(783)

Other, net

1,093

229

Subtotal

5,587

5,085

Interest and dividends received

552

582

Interest paid

(196)

(181)

Income taxes paid

(730)

(1,454)

Proceeds from compensation

335

-

Subsidies received

54

204

Net cash provided by (used in) operating activities

5,602

4,236

(Millions of yen)

Fiscal year ended

March 31, 2024

Fiscal year ended

March 31, 2025

Cash flows from investing activities

Payments into time deposits

(205)

(131)

Proceeds from withdrawal of time deposits

-

246

Purchase of property, plant and equipment

(976)

(1,873)

Proceeds from sale of property, plant and equipment

277

139

Purchase of intangible assets

(222)

(269)

Purchase of investment securities

(247)

(489)

Proceeds from sale of investment securities

778

1,175

Payments for investments in capital of subsidiaries and

(100)

-

associates

Loan advances

(16)

(50)

Proceeds from collection of loans receivable

9

3

Other, net

(166)

(231)

Net cash provided by (used in) investing activities

(869)

(1,481)

Fiscal year ended

March 31, 2024

Fiscal year ended

March 31, 2025

Cash flows from financing activities

Net increase (decrease) in short-term borrowings

(844)

(1,830)

Repayments of finance lease liabilities

(383)

(404)

Proceeds from long-term borrowings

-

817

Repayments of long-term borrowings

(1,921)

(1,240)

Repayments of installment payables

(107)

(41)

Dividends paid

(554)

(554)

Dividends paid to non-controlling interests

(0)

(0)

Purchase of treasury shares

(0)

(0)

Proceeds from sale of treasury shares

-

0

Other, net

-

51

Net cash provided by (used in) financing activities

(3,812)

(3,203)

Effect of exchange rate change on cash and cash equivalents

172

(68)

Net increase (decrease) in cash and cash equivalents

1,093

(517)

Cash and cash equivalents at beginning of period

6,624

7,717