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.
February 7, 2025
Consolidated Financial Results
for the Nine Months Ended December 31, 2024
(Under Japanese GAAP)
Company name: | Nitta Corporation |
Listing: | Tokyo Stock Exchange |
Securities code: | 5186 |
URL: | https://www.nitta.co.jp |
Representative: | Yasunori Ishikiriyama, President |
Inquiries: | Koichi Kakegami, Director, Executive officer, and General Manager of Corporate Center |
Telephone: | +81-6-6563-1211 |
Scheduled date to commence dividend payments:-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing: | None |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the nine months ended December 31, 2024 (April 1, 2024 - December 31, 2024)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | ||||||||
Net sales | Operating income | Ordinary income | Net income attributable | ||||||
to owners of parent | |||||||||
Nine months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
December 31, 2024 | 66,849 | 0.3 | 4,120 | 7.5 | 11,089 | 19.5 | 9,416 | 23.4 | |
December 31, 2023 | 66,629 | 1.8 | 3,834 | (6.7) | 9,283 | (9.9) | 7,630 | (8.7) | |
Note: Comprehensive income | For the nine months ended December 31, 2024: | ¥ 10,912 million | [-16.1%] | ||||
For the nine months ended December 31, 2023: | ¥ 13,011 million | [-12.8%] | |||||
Net income | Diluted net income | ||||||
per share | per share | ||||||
Nine months ended | Yen | Yen | |||||
December 31, 2024 | 338.63 | － | |||||
December 31, 2023 | 274.03 | － | |||||
(2) Consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | |||
As of | Millions of yen | Millions of yen | % | ||
December 31, 2024 | 173,151 | 148,305 | 85.2 | ||
March 31, 2024 | 169,504 | 142,011 | 83.3 | ||
Reference: Equity | As of December 31, 2024: | ¥147,499 million | |||
As of March 31, 2024: | ¥141,280 million |
2. Cash dividends
Annual dividends per share | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||
Yen | Yen | Yen | Yen | Yen | ||
Fiscal year ended | － | 55.00 | － | 67.00 | 122.00 | |
March 31, 2024 | ||||||
Fiscal year ending | － | 66.00 | ||||
March 31, 2025 | ||||||
Fiscal year ending | ||||||
March 31, 2025 | 66.00 | 132.00 | ||||
(Forecast) | ||||||
Note: Revisions to the forecast of cash dividends announced most recently: None |
3. Consolidated earnings forecast for the fiscal year ending March 31, 2025 (April 1, 2024 - March 31, 2025)
Net income | Net income | ||||||||||
Net sales | Operating income | Ordinary income | attributable to | ||||||||
per share | |||||||||||
owners of parent | |||||||||||
Millions of | % | Millions of | % | Millions of | % | Millions of | % | Yen | |||
yen | yen | yen | yen | ||||||||
Full-year | 90,000 | 1.6 | 5,000 | 13.1 | 14,000 | 16.6 | 11,500 | 16.7 | 413.54 | ||
Note: Revisions to consolidated earnings forecast announced most recently: Yes
Regarding the revision to the consolidated earnings forecast, please refer to the press release "Notice Concerning Revisions to Full- Year Financial Results Forecasts" disclosed on February 7, 2025.
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
Newly included: | － | (Company name: | ) |
Excluded: | － | (Company name: | ) |
- Adoption of accounting treatment specific to the preparation of quarterly 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)
As of December 31, 2024
As of March 31, 2024
29,272,503 shares
30,272,503 shares
(ii) Number of treasury shares at the end of the period
As of December 31, 2024
As of March 31, 2024
1,597,192 shares
2,372,330 shares
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2024
Nine months ended December 31, 2023
27,808,822 shares
27,845,793 shares
- Review procedures on the quarterly consolidated financial statements contained in this report by certified public accountants or an audit firm: Yes (voluntary)
- Explanation of appropriate use of business performance forecasts and other special items
The earnings forecasts in this document are based on the current information and certain assumptions that are considered reasonable, and actual results may greatly depending on various factors.
Quarterly Consolidated Financial Statements
- Quarterly Consolidated Balance Sheet
(Millions of yen)
As of March 31,2024 | As of December 31,2024 |
Assets
Current assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims -operating
Securities
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net
Land
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
36,815 | 27,413 |
17,791 | 17,606 |
9,606 | 9,802 |
5,499 | 5,497 |
14,931 | 15,937 |
2,052 | 4,249 |
(23) | (27) |
86,673 | 80,480 |
13,414 | 14,350 |
5,374 | 4,937 |
1,082 | 1,207 |
3,910 | 5,583 |
737 | 2,488 |
1,050 | 1,301 |
25,570 | 29,868 |
Goodwill | 204 | 90 | ||
Other | 592 | 636 | ||
Total intangible assets | 796 | 726 | ||
Investments and other assets | ||||
Investment securities | 52,820 | 58,180 | ||
Long-term loans receivable | 11 | 179 | ||
Retirement benefit asset | 2,183 | 2,391 | ||
Deferred tax assets | 556 | 555 | ||
Other | 897 | 773 | ||
Allowance for doubtful accounts | (5) | (5) | ||
Total investments and other assets | 56,463 | 62,075 | ||
Total non-current assets | 82,830 | 92,671 | ||
Total assets | 169,504 | 173,151 | ||
(Millions of yen) | |||||||
As of March 31,2024 | As of December 31,2024 | ||||||
Liabilities | |||||||
Current liabilities | |||||||
Notes and accounts payable - trade | 7,966 | 8,537 | |||||
Electronically recorded obligations - operating | 6,288 | 2,000 | |||||
Income taxes payable | 611 | 1,011 | |||||
Provision for bonuses | 1,037 | 807 | |||||
Other | 4,427 | 4,344 | |||||
Total current liabilities | 20,331 | 16,702 | |||||
Non-current liabilities | |||||||
Long-term borrowings | 286 | 154 | |||||
Deferred tax liabilities | 3,234 | 4,016 | |||||
Retirement benefit liability | 1,975 | 2,035 | |||||
Other | 1,665 | 1,937 | |||||
Total non-current liabilities | 7,161 | 8,143 | |||||
Total liabilities | 27,493 | 24,846 | |||||
Net assets | |||||||
Shareholders' equity | |||||||
Share capital | 8,060 | 8,060 | |||||
Capital surplus | 7,114 | 6,586 | |||||
Retained earnings | 117,597 | 121,358 | |||||
Treasury shares | (5,520) | (3,954) | |||||
Shareholders' equity | 127,252 | 132,051 | |||||
Valuation and translation adjustments | |||||||
Valuation difference on available-for-sale securities | 5,373 | 6,089 | |||||
Foreign currency translation adjustment | 7,812 | 8,553 | |||||
Remeasurements of defined benefit plans | 840 | 804 | |||||
Valuation and translation adjustments | 14,027 | 15,448 | |||||
Non-controlling interests | 731 | 805 | |||||
Total net assets | 142,011 | 148,305 | |||||
Total liabilities and net assets | 169,504 | 173,151 | |||||
- Quarterly Consolidated Statement of Income and Comprehensive Income
Consolidated Statement of Income Nine months ended December 31,2024
(Millions of yen) | ||||
Third quarter | Third quarter | |||
ended December 31,2023 | ended December 31,2024 | |||
Net sales | 66,629 | 66,849 | ||
Cost of sales | 49,405 | 48,591 | ||
Gross profit | 17,224 | 18,258 | ||
Selling, general and administrative expenses | 13,389 | 14,137 | ||
Operating profit | 3,834 | 4,120 | ||
Non-operating income | ||||
Interest income | 126 | 184 | ||
Dividend income | 257 | 349 | ||
Outsourcing service income | 115 | 115 | ||
Share of profit of entities accounted for using equity | 4,944 | 6,525 | ||
method | ||||
Foreign exchange gains | 261 | 9 | ||
Other | 85 | 122 | ||
Total non-operating income | 5,791 | 7,308 | ||
Non-operating expenses | ||||
Interest expenses | 42 | 50 | ||
Fiduciary obligation expenses | 107 | 107 | ||
Litigation expenses | 160 | 109 | ||
Other | 31 | 72 | ||
Total non-operating expenses | 342 | 339 | ||
Ordinary profit | 9,283 | 11,089 | ||
Extraordinary income | ||||
Gain on sale of non-current assets | 8 | 9 | ||
Gain on receipt of donated non-current assets | - | 526 | ||
Gain on liquidation of subsidiaries and associates | 135 | - | ||
Other | 0 | 0 | ||
Total extraordinary income | 143 | 535 | ||
Extraordinary losses | ||||
Loss on sale of non-current assets | - | 1 | ||
Loss on retirement of non-current assets | 25 | 59 | ||
Impairment losses | - | 44 | ||
Loss on valuation of investment securities | 148 | - | ||
Loss on disaster | - | 10 | ||
Other | - | 9 | ||
Total extraordinary losses | 174 | 125 | ||
Profit before income taxes | 9,253 | 11,499 | ||
Income taxes - current | 1,137 | 1,525 | ||
Income taxes - deferred | 422 | 489 | ||
Income taxes | 1,560 | 2,014 | ||
Profit | 7,693 | 9,484 | ||
Profit attributable to non-controlling interests | 62 | 67 | ||
Profit attributable to owners of parent | 7,630 | 9,416 | ||
Quarterly Consolidated Statement of Comprehensive Income Nine months ended December 31,2024
(Millions of yen) | |||
Third quarter | Third quarter | ||
ended December 31,2023 | ended December 31,2024 | ||
Profit | 7,693 | 9,484 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 871 | 717 | |
Foreign currency translation adjustment | 2,258 | 229 | |
Remeasurements of defined benefit plans, net of tax | (0) | (28) | |
Share of other comprehensive income of entities | 2,188 | 508 | |
accounted for using equity method | |||
Total other comprehensive income | 5,318 | 1,427 | |
Comprehensive income | 13,011 | 10,912 | |
Comprehensive income attributable to | |||
owners of parent | 12,930 | 10,837 | |
non-controlling interests | 81 | 74 | |