Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2024 (Based on Japanese GAAP)
January 31, 2025 | ||||
Company name: | NICHIHA CORPORATION | |||
Stock exchange listing: Tokyo, Nagoya | ||||
Stock code: | 7943 | URL https://www.nichiha.co.jp | ||
Representative: | PRESIDENT | NARUMITSU YOSHIOKA | ||
Inquiries: | DIRECTOR SENIOR EXECUTIVE | KAZUSHI TONOI | TEL 052-220-5111 | |
OFFICER | ||||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on financial results: | Yes | |||
Holding of financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||
owners of parent | ||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||
Nine months ended December 31, 2024 | 112,155 | 4.0 | 5,585 | (27.2) | 6,223 | (26.5) | 3,767 | (33.0) | ||||||
Nine months ended December 31, 2023 | 107,824 | 4.0 | 7,671 | (8.8) | 8,471 | (8.3) | 5,624 | (13.9) | ||||||
Earnings per share | Diluted earnings per share | |||||||||||||
Yen | Yen | |||||||||||||
Nine months ended December 31, 2024 | 108.82 | 108.59 | ||||||||||||
Nine months ended December 31, 2023 | 155.31 | 155.01 | ||||||||||||
(2) Consolidated financial position | ||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||
As of December 31, 2024 | 169,499 | 120,753 | 71.4 | 3,554.79 | ||||||||||
As of March 31, 2024 | 175,688 | 126,303 | 72.0 | 3,570.27 |
2. Cash dividends | ||||
Annual dividends per share | ||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | |
Yen | Yen | Yen | Yen | |
Year ended March 31, 2024 | - | 57.00 | - | 57.00 |
Year ending March 31, 2025 | - | 57.00 | - | |
Year ending March 31, 2025 (Forecast) | 57.00 |
Total
Yen 114.00
114.00
3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 148,500 | 4.0 | 7,000 | (31.4) | 7,300 | (38.4) | 4,500 | (44.2) | 129.03 |
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4. Notes | ||||||
(1) | Significant changes in the scope of consolidation during the nine months ended December 31, 2024: | No | ||||
(2) | Application of special accounting methods for preparing quarterly consolidated financial statements: | No | ||||
(3) | Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |||||
Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes | |||||
Changes in accounting policies due to other reasons: | No | |||||
Changes in accounting estimates: | No | |||||
Restatement of prior period financial statements: | No | |||||
(4) | Number of issued shares (common shares) | |||||
Total number of issued shares at the end of the period (including treasury shares) | ||||||
As of December 31, 2024 | 37,324,264 shares | As of March 31, 2024 | 37,324,264 shares | |||
Number of treasury shares at the end of the period | ||||||
As of December 31, 2024 | 3,299,644 shares | As of March 31, 2024 | 1,885,331 shares | |||
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Nine months ended December 31, 2024 | 34,622,091 shares | Nine months ended December 31, 2023 | 36,215,571 shares |
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | ||
As of March 31, 2024 | As of December 31, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 26,700 | 18,331 |
Notes and accounts receivable - trade | 27,376 | 27,264 |
Electronically recorded monetary claims - operating | 1,810 | 6,185 |
Merchandise and finished goods | 18,316 | 18,961 |
Work in process | 3,609 | 3,096 |
Raw materials and supplies | 6,688 | 6,190 |
Other | 1,554 | 1,410 |
Allowance for doubtful accounts | (30) | (30) |
Total current assets | 86,025 | 81,409 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 14,430 | 14,001 |
Machinery, equipment and vehicles, net | 36,114 | 35,248 |
Tools, furniture and fixtures, net | 570 | 475 |
Land | 20,393 | 20,394 |
Leased assets, net | 258 | 269 |
Construction in progress | 428 | 630 |
Total property, plant and equipment | 72,196 | 71,019 |
Intangible assets | ||
Leased assets | 2 | 0 |
Software | 446 | 297 |
Other | 186 | 196 |
Total intangible assets | 634 | 494 |
Investments and other assets | ||
Investment securities | 11,075 | 11,164 |
Deferred tax assets | 427 | 249 |
Retirement benefit asset | 1,733 | 1,668 |
Other | 3,622 | 3,531 |
Allowance for doubtful accounts | (28) | (37) |
Total investments and other assets | 16,831 | 16,577 |
Total non-current assets | 89,662 | 88,090 |
Total assets | 175,688 | 169,499 |
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(Millions of yen) | ||
As of March 31, 2024 | As of December 31, 2024 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 16,057 | 15,225 |
Short-term borrowings | 3,220 | 3,332 |
Lease liabilities | 106 | 103 |
Income taxes payable | 1,941 | 480 |
Provision for bonuses | 1,799 | 803 |
Provision for bonuses for directors (and other officers) | 72 | 41 |
Provision for product warranties | 90 | 55 |
Other | 9,695 | 11,273 |
Total current liabilities | 32,982 | 31,314 |
Non-current liabilities | ||
Long-term borrowings | 11,621 | 11,651 |
Lease liabilities | 199 | 207 |
Deferred tax liabilities | 1,964 | 2,989 |
Provision for retirement benefits for directors (and other | 170 | 174 |
officers) | ||
Provision for product warranties | 740 | 740 |
Retirement benefit liability | 1,334 | 1,342 |
Other | 371 | 324 |
Total non-current liabilities | 16,401 | 17,431 |
Total liabilities | 49,384 | 48,745 |
Net assets | ||
Shareholders' equity | ||
Share capital | 8,136 | 8,136 |
Capital surplus | 10,944 | 10,950 |
Retained earnings | 99,271 | 99,070 |
Treasury shares | (4,775) | (9,733) |
Total shareholders' equity | 113,577 | 108,423 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 5,686 | 5,750 |
Foreign currency translation adjustment | 6,040 | 5,713 |
Remeasurements of defined benefit plans | 1,222 | 1,062 |
Total accumulated other comprehensive income | 12,949 | 12,526 |
Share acquisition rights | 161 | 169 |
Non-controlling interests | (384) | (366) |
Total net assets | 126,303 | 120,753 |
Total liabilities and net assets | 175,688 | 169,499 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
(Millions of yen) | ||
Nine months ended | Nine months ended | |
December 31, 2023 | December 31, 2024 | |
Net sales | 107,824 | 112,155 |
Cost of sales | 69,611 | 73,660 |
Gross profit | 38,212 | 38,494 |
Selling, general and administrative expenses | 30,541 | 32,908 |
Operating profit | 7,671 | 5,585 |
Non-operating income | ||
Interest income | 102 | 115 |
Dividend income | 147 | 162 |
Rental income from real estate | 66 | 52 |
Foreign exchange gains | 499 | 405 |
Other | 110 | 190 |
Total non-operating income | 925 | 927 |
Non-operating expenses | ||
Interest expenses | 90 | 232 |
Other | 34 | 57 |
Total non-operating expenses | 125 | 289 |
Ordinary profit | 8,471 | 6,223 |
Extraordinary income | ||
Gain on sale of non-current assets | 1 | 2 |
Gain on sale of investment securities | 46 | 42 |
Total extraordinary income | 48 | 45 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 23 | 282 |
Impairment losses | 279 | - |
Loss on retirement of inventories | - | 119 |
Extra retirement payments | - | 165 |
Total extraordinary losses | 303 | 567 |
Profit before income taxes | 8,216 | 5,701 |
Income taxes - current | 1,862 | 1,093 |
Income taxes - deferred | 690 | 821 |
Total income taxes | 2,552 | 1,915 |
Profit | 5,663 | 3,785 |
Profit attributable to | ||
Profit attributable to owners of parent | 5,624 | 3,767 |
Profit attributable to non-controlling interests | 38 | 18 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,740 | 64 |
Foreign currency translation adjustment | 4,333 | (326) |
Remeasurements of defined benefit plans, net of tax | (68) | (160) |
Total other comprehensive income | 6,006 | (422) |
Comprehensive income | 11,669 | 3,363 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 11,609 | 3,345 |
Comprehensive income attributable to non-controlling interests | 59 | 18 |
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