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 8, 2024
Company name: Neturen Co., Ltd.
Listing: Tokyo
Securities code: 5976
URL: https://www.k-neturen.co.jp/
Representative: Katsumi Omiya | , Representative Director, Member of the Board and President |
Inquiries: Hideaki Shinohara | , General Manager, Accounting Department, Administrative Headquarters |
Telephone: +81-3-3443-5441 |
Scheduled date to file semi-annual securities report: November 13, 2024
Scheduled date to commence dividend payments: December 6, 2024
Preparation of supplementary material on financial results: Yes
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 | 29,002 | 2.5 | 854 | 23.8 | 1,154 | (2.3) | 615 | (9.4) | ||
September 30, 2023 | 28,302 | 1.6 | 690 | (50.4) | 1,182 | (41.8) | 678 | (44.4) |
(Note) Comprehensive income: | Six months ended September 30, 2024: | 3,403 million | [ | 17.5%] | |||||||||||||
Six months ended September 30, 2023: | 2,897 million | [ | (32.4) %] | ||||||||||||||
Basic earnings | Diluted earnings per | ||||||||||||||||
per share | share | ||||||||||||||||
Six months ended | Yen | Yen | |||||||||||||||
September 30, 2024 | 17.18 | - | |||||||||||||||
September 30, 2023 | 18.22 | - | |||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||
Total assets | Net assets | Capital adequacy ratio | |||||||||||||||
As of | Millions of yen | Millions of yen | % | ||||||||||||||
September 30, 2024 | 79,487 | 67,374 | 76.3 | ||||||||||||||
March 31, 2024 | 80,613 | 66,471 | 74.4 | ||||||||||||||
(Reference) Equity: As of | September 30, 2024: | ¥ | 60,674 million | ||||||||||||||
As of | March 31, 2024: | ¥ | 60,005 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 | - | 24.00 | - | 25.00 | 49.00 | ||||||||||||
Fiscal year ending March 31, 2025 | - | 25.00 | |||||||||||||||
Fiscal year ending March 31, 2025 | - | 25.00 | 50.00 | ||||||||||||||
(Forecast) | |||||||||||||||||
(Note) Revision to the forecast for dividends | announced most | recently: | None |
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 | 62,000 | 8.4 | 2,000 | 22.5 | 2,600 | 3.5 | 1,600 | 3.7 | 44.19 | |||
(Note) Revision to the financial results forecast announced most recently: | None | |||||||||||
* Notes: | ||||||||||||
(1) Significant changes in the scope of consolidation during the period: | None | |||||||||||
Newly included: | - | (Company name: | ) | |||||||||
Excluded: | - | (Company name: | ) |
- Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: Yes
- 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: 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: | 37,138,900 | shares |
March 31, 2024: | 37,138,900 | shares |
2) Number of treasury shares at the end of the period: | ||
September 30, 2024: | 1,936,522 | shares |
March 31, 2024: | 934,883 | shares |
3) Average number of shares outstanding during the period: | ||
Six months ended September 30, 2024: | 35,793,828 | shares |
Six months ended September 30, 2023: | 37,262,662 | 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
(Notes on forward-looking statements, etc.)
The forward-looking statements contained in this document are based on judgments made in accordance with information available at the time of the release of this document and include many uncertain factors. Actual results may differ from these forecasts due to changes in business conditions and other factors.
For the assumptions used for the financial results forecast as well as precautions regarding the use of such forecast, please refer to "1. Qualitative Information on Quarterly Financial Results (3) Explanation Regarding Consolidated Financial Results Forecast and Other Forward-looking Information" on page 3 of the Attachments (Japanese version only).
Semi-annual Consolidated Financial Statements
Semi-annual Consolidated Balance Sheets
(Millions of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 15,904 | 13,334 |
Notes and accounts receivable - trade, and contract | 12,707 | 12,355 |
assets | ||
Electronically recorded monetary claims - | 4,124 | 3,813 |
operating | ||
Securities | 276 | 291 |
Merchandise and finished goods | 1,159 | 1,831 |
Work in process | 2,845 | 2,729 |
Raw materials and supplies | 3,471 | 3,590 |
Other | 1,430 | 1,881 |
Allowance for doubtful accounts | (166) | (173) |
Total current assets | 41,753 | 39,654 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 7,769 | 8,375 |
Machinery, equipment and vehicles, net | 5,888 | 6,075 |
Land | 9,940 | 9,996 |
Construction in progress | 1,767 | 1,727 |
Other, net | 702 | 735 |
Total property, plant and equipment | 26,067 | 26,910 |
Intangible assets | ||
Leasehold interests in land | 925 | 1,007 |
Other | 102 | 99 |
Total intangible assets | 1,027 | 1,106 |
Investments and other assets | ||
Investment securities | 9,984 | 10,272 |
Long-term loans receivable | 18 | 19 |
Retirement benefit asset | 0 | - |
Other | 1,840 | 1,603 |
Allowance for doubtful accounts | (78) | (78) |
Total investments and other assets | 11,765 | 11,816 |
Total non-current assets | 38,860 | 39,833 |
Total assets | 80,613 | 79,487 |
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(Millions of yen) | ||
As of March 31, 2024 | As of September 30, 2024 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 3,958 | 3,569 |
Electronically recorded obligations - operating | 4,149 | 2,243 |
Short-term borrowings | 670 | 668 |
Income taxes payable | 542 | 382 |
Provision for bonuses | 685 | 697 |
Provision for bonuses for directors (and other | 13 | 13 |
officers) | ||
Provision for share awards for directors (and other | 17 | 6 |
officers) | ||
Other | 2,756 | 3,309 |
Total current liabilities | 12,794 | 10,891 |
Non-current liabilities | ||
Long-term borrowings | 16 | 12 |
Provision for share awards for directors (and other | 8 | 6 |
officers) | ||
Retirement benefit liability | 36 | 13 |
Other | 1,287 | 1,189 |
Total non-current liabilities | 1,348 | 1,221 |
Total liabilities | 14,142 | 12,113 |
Net assets | ||
Shareholders' equity | ||
Share capital | 6,418 | 6,418 |
Capital surplus | 1,725 | 1,719 |
Retained earnings | 46,397 | 46,107 |
Treasury shares | (816) | (1,886) |
Total shareholders' equity | 53,724 | 52,358 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale | 2,392 | 2,347 |
securities | ||
Foreign currency translation adjustment | 3,547 | 5,645 |
Remeasurements of defined benefit plans | 341 | 322 |
Total accumulated other comprehensive income | 6,281 | 8,315 |
Non-controlling interests | 6,465 | 6,699 |
Total net assets | 66,471 | 67,374 |
Total liabilities and net assets | 80,613 | 79,487 |
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Semi-annual Consolidated Statements of Income and Comprehensive Income
(Millions of yen) | ||
For the six months | For the six months | |
ended September 30, 2023 | ended September 30, 2024 | |
Net sales | 28,302 | 29,002 |
Cost of sales | 23,476 | 23,813 |
Gross profit | 4,825 | 5,189 |
Selling, general and administrative expenses | 4,135 | 4,334 |
Operating profit | 690 | 854 |
Non-operating income | ||
Interest income | 71 | 44 |
Dividend income | 134 | 128 |
Share of profit of entities accounted for using equity | 81 | 63 |
method | ||
Foreign exchange gains | 92 | - |
Gain on sale of scraps | 79 | 74 |
Other | 66 | 46 |
Total non-operating income | 525 | 357 |
Non-operating expenses | ||
Interest expenses | 28 | 23 |
Foreign exchange losses | - | 25 |
Other | 4 | 7 |
Total non-operating expenses | 33 | 57 |
Ordinary profit | 1,182 | 1,154 |
Extraordinary income | ||
Gain on sale of non-current assets | 11 | 10 |
Gain on sale of investment securities | 13 | - |
Insurance claim income | 6 | 12 |
Subsidy income | - | 9 |
Other | 0 | 1 |
Total extraordinary income | 32 | 33 |
Extraordinary losses | ||
Loss on sale of non-current assets | 0 | 0 |
Loss on retirement of non-current assets | 6 | 7 |
Loss on sale of investment securities | 0 | - |
Total extraordinary losses | 6 | 7 |
Profit before income taxes | 1,208 | 1,180 |
Income taxes | 365 | 348 |
Profit | 843 | 832 |
Profit attributable to | ||
Profit attributable to owners of parent | 678 | 615 |
Profit attributable to non-controlling interests | 164 | 217 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 350 | (69) |
Foreign currency translation adjustment | 1,475 | 2,289 |
Remeasurements of defined benefit plans, net of tax | (13) | (19) |
Share of other comprehensive income of entities | 242 | 370 |
accounted for using equity method | ||
Total other comprehensive income | 2,054 | 2,571 |
Comprehensive income | 2,897 | 3,403 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of | 2,477 | 2,649 |
parent | ||
Comprehensive income attributable to non-controlling | 419 | 754 |
interests | ||
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