Note: This document has been translated from the Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
February 5, 2025
Noevir Holdings Announces Consolidated Results for the First Three Months of
the Fiscal Year Ending September 30, 2025
(based on Japan GAAP)
Trade name: | Noevir Holdings Co., Ltd. |
Listing: | Tokyo Stock Exchange, Prime Market (Securities Code: 4928) |
URL: | https://www.noevirholdings.co.jp/ |
Representative: | Takashi Okura, President and CEO |
Contact: | Junya Baba, General Manager, Accounting |
Tel. +81-78-303-5121
Date of commencement of dividend payments: -
Supplemental materials for the financial results prepared: None
Results briefing for the reporting period held: None
(Amounts under one million yen have been rounded down)
1. Operating results for the first three months of the fiscal year ending September 30, 2025 (October 1, 2024 to December 31, 2024)
(1) Consolidated operating results
(Millions of yen; percentage figures denote year-on-year change)
Net sales | Operating | Ordinary | Net income attributable | |||||||
income | income | to owners of the parent | ||||||||
Three months ended December 31, 2024 | 16,802 | 1.1 % | 3,173 | (10.2) % | 3,274 | (8.4) % | 973 | (3.2) % | ||
Three months ended December 31, 2023 | 16,614 | 2.5 % | 3,534 | 6.2 % | 3,573 | 6.5 % | 1,006 | (14.7) % | ||
Note: Comprehensive income: | ||||||||||
Three months ended December 31, 2024: 1,276 million yen [20.6%] | ||||||||||
Three months ended December 31, 2023: 1,058 million yen [(9.4)%] | ||||||||||
EPS (Yen) | Diluted EPS (Yen) | |||||||||
Three months ended December 31, 2024 | 28.51 | - | ||||||||
Three months ended December 31, 2023 | 29.46 | - | ||||||||
(2) Consolidated financial position | (Millions of yen) | |||||||||
Total assets | Net assets | Equity ratio (%) | ||||||||
As of December 31, 2024 | 71,021 | 47,498 | 66.1 | |||||||
As of September 30, 2024 | 76,471 | 53,906 | 69.9 | |||||||
[Reference] Equity: |
As of December 31, 2024: 46,972 million yen
As of September 30, 2024: 53,477 million yen
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2. Cash dividends
(Yen) | ||||||||||
Annual dividends | ||||||||||
1st quarter | 2nd quarter | 3rd quarter | Year-end | Total | ||||||
Fiscal year ended September 30, 2024 | - | 0.00 | - | 225.00 | 225.00 | |||||
Fiscal year ended September 30, 2025 | - | |||||||||
Fiscal year ending September 30, 2025 | 0.00 | - | 225.00 | 225.00 | ||||||
(forecast) | ||||||||||
Note: Revisions from the most recently announced dividend | forecast: None |
3. Consolidated earnings forecasts for the fiscal year ending September 30, 2025 (October 1, 2024 to September 30, 2025)
(Millions of yen; percentage figures denote year-on-year change)
Net income | |||||||||
Net sales | Operating income | Ordinary income | attributable to | EPS (Yen) | |||||
owners of the parent | |||||||||
Full year | 64,000 | 0.3% | 11,500 | 0.7% | 11,700 | 0.9% | 8,000 | 0.4% | 234.22 |
Note: Revisions from the most recently announced consolidated earnings forecast: None
- Notes
- Significant changes in the scope of consolidation during the period: None
- Special accounting treatment for preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes associated with revision in accounting standards: Yes
- Other changes: None
- Changes in accounting estimates: None
- Restatement: None
- Shares outstanding (common stock)
- Shares outstanding (including treasury stock)
As of December 31, 2024: 34,156,623
As of September 30, 2024: 34,156,623
- Treasury shares outstanding As of December 31, 2024: 416 As of September 30, 2024: 416
- Average shares outstanding over quarter
Three months ended December 31, 2024: 34,156,207
Three months ended December 31, 2023: 34,156,353
- Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None
- Explanation regarding the appropriate use of business performance forecasts
Forward-looking statements included in these materials, such as forecasts of business performance, are based on information known to the Company's management as of the time of writing, and reflect judgments believed to be reasonable on the basis of that information. There is, therefore, a possibility that actual business performance figures will differ substantially from our forecasts as a result of changes in the economic situation and other unforeseeable factors. Please refer to "(3) Estimates and forecasts pertaining to future plans and business results" under "1. Operating results and financial information" on page 5 of the Attached Material. - 2 -
Contents of the Attached Material | ||
1. Operating results and financial information | 4 | |
(1) | Operating results for the first three months of the fiscal year ending September 30, 2025 | 4 |
(2) | Financial position as of December 31, 2024 | 4 |
(3) | Estimates and forecasts pertaining to future plans and business results | 5 |
2. Quarterly consolidated financial statements and notes | 6 | |
(1) | Quarterly consolidated balance sheets | 6 |
(2) | Quarterly consolidated statements of income and comprehensive income | 8 |
(3) | Quarterly consolidated statements of cash flows | 10 |
(4) | Notes to the quarterly consolidated financial statements | 11 |
(Note on assumptions for going concern) | 11 | |
(Note on significant changes in the amount of shareholders' equity) | 11 | |
(Note on changes in accounting policies) | 11 | |
(Note on segment information) | 12 |
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1. Operating results and financial information
- Operating results for the first three months of the fiscal year ending September 30, 2025 Consolidated operating results for the first three months of the fiscal year ending September 30, 2025 (October 1, 2024 to December 31, 2024)
Three months ended | Three months ended | ||||||
December 31, 2023 | December 31, 2024 | Change | Change | ||||
Net sales | % of Total | Net sales | % of Total | (Millions of yen) | (%) | ||
(Millions of yen) | (Millions of yen) | ||||||
Net sales | 16,614 | 100.0 | 16,802 | 100.0 | 187 | 1.1 | |
Cosmetics | 13,498 | 81.3 | 13,547 | 80.6 | 49 | 0.4 | |
Pharmaceuticals | 2,763 | 16.6 | 2,953 | 17.6 | 189 | 6.9 | |
& Health Food | |||||||
Other | 351 | 2.1 | 300 | 1.8 | (51) | (14.6) | |
Three months ended | Three months ended | ||||||
December 31, 2023 | December 31, 2024 | Change | Change | ||||
Amount | % of Net sales | Amount | % of Net sales | (Millions of yen) | (%) | ||
(Millions of yen) | (Millions of yen) | ||||||
Operating income | 3,534 | 21.3 | 3,173 | 18.9 | (361) | (10.2) | |
Ordinary income | 3,573 | 21.5 | 3,274 | 19.5 | (298) | (8.4) | |
Net income | 1,006 | 6.1 | 973 | 5.8 | (32) | (3.2) | |
attributable to | |||||||
owners of the parent |
During the first three months of fiscal 2025 (October 1, 2024 to December 31, 2024), economic trends remained uncertain, although some signs of gradual recovery were observed.
In this environment, the Company is working to realize the concept of its medium- to long-term strategy: "Realizing steady corporate growth by securing sustainability in every Group business segment."
As a result, net sales for the first three months of fiscal 2025 came to 16,802 million yen (up 1.1% year on year), operating income was 3,173 million yen (down 10.2%), ordinary income was 3,274 million yen (down 8.4%), and net income attributable to owners of the parent came to 973 million yen (down 3.2%).
In the Cosmetics segment, net sales totaled 13,547 million yen (up 0.4% year on year), and segment income came to 3,538 million yen (down 3.7%).
In the Pharmaceuticals & Health Food segment, net sales totaled 2,953 million yen (up 6.9% year on year), and segment income came to 248 million yen (down 40.1%).
In the Other segment, net sales totaled 300 million yen (down 14.6% year on year), and segment income came to 9 million yen (down 79.8%).
(2) Financial position as of December 31, 2024
Total assets as of December 31, 2024 stood at 71,021 million yen, a decrease of 5,449 million yen from the previous fiscal year-end. This was mainly due to a decrease in cash and deposits of 15,946 million yen and an increase in securities of 9,994 million yen.
Total liabilities came to 23,523 million yen, an increase of 958 million yen from the previous fiscal year-end. This mainly reflected increases in income tax payable of 489 million yen and other accounts payable of 371 million yen.
Net assets came to 47,498 million yen, a decrease of 6,408 million yen from the previous fiscal year-end. This was primarily attributable to a decrease in retained earnings of 6,711 million yen, due to the payment of 7,685 million yen in dividends at the previous fiscal year-end, which was partly offset by net income attributable to owners of the parent of 973 million yen.
As a result, the equity ratio stood at 66.1%.
- 4 -
(Consolidated cash flows)
Cash and cash equivalents (hereinafter, "cash") on a consolidated basis as of the end of the period under review stood at 13,059 million yen, a decrease of 15,946 million yen compared with the previous fiscal year-end. The status of each cash flow together with the factors contributing to their increase or decrease for the first three months of fiscal 2025 are presented as follows.
(Cash flows from operating activities)
Net cash provided by operating activities amounted to 1,555 million yen (compared with an inflow of 3,754 million yen in the corresponding period of the previous fiscal year). The main item increasing cash was 3,273 million yen in income before income taxes, and the main item decreasing cash was 1,542 million yen in income tax paid.
(Cash flows from investing activities)
Net cash used in investing activities came to 10,084 million yen (compared with an outflow of 292 million yen in the corresponding period of the previous fiscal year). The principal cash outflow was 9,993 million yen for purchase of securities.
(Cash flows from financing activities)
Net cash used in financing activities came to 7,647 million yen (compared with an outflow of 7,463 million yen in the corresponding period of the previous fiscal year). This was mainly due to the payment of 7,626 million yen in dividends.
(3) Estimates and forecasts pertaining to future plans and business results
The consolidated business performance forecasts for the full year ending September 30, 2025, announced on November 8, 2024, remain unchanged.
- 5 -
2. Quarterly consolidated financial statements and notes
- Quarterly consolidated balance sheets
(Millions of yen) | ||
Previous fiscal year | As of | |
(As of September 30, 2024) | December, 31, 2024 | |
ASSETS | ||
Current assets | 13,276 | |
Cash and deposits | 29,223 | |
Notes and accounts receivable | 10,788 | 11,190 |
Securities | － | 9,994 |
Merchandise and finished goods | 6,307 | 6,624 |
Work in progress | 112 | 106 |
Raw materials and purchased supplies | 1,672 | 1,663 |
Other | 2,049 | 2,149 |
Allowance for doubtful accounts | (5) | (17) |
Total current assets | 50,148 | 44,988 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 4,597 | 4,508 |
Equipment and vehicles, net | 653 | 614 |
Land | 13,559 | 13,559 |
Lease assets, net | 766 | 746 |
Construction in progress | 156 | 159 |
Other, net | 174 | 195 |
Total property, plant and equipment | 19,907 | 19,784 |
Intangible assets | 150 | |
Goodwill | 158 | |
Software | 108 | 103 |
Other | 727 | 728 |
Total intangible assets | 994 | 982 |
Investments and other assets | ||
Investment securities | 3,112 | 3,053 |
Deferred tax assets | 1,186 | 1,101 |
Other | 1,141 | 1,128 |
Allowance for doubtful accounts | (18) | (18) |
Total investments and other assets | 5,421 | 5,265 |
Total non-current assets | 26,323 | 26,033 |
Total assets | 76,471 | 71,021 |
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(Millions of yen) | ||
Previous fiscal year | As of | |
(As of September 30, 2024) | December, 31, 2024 | |
LIABILITIES | ||
Current liabilities | 3,140 | |
Notes and accounts payable | 2,951 | |
Lease obligations | 86 | 86 |
Other accounts payable | 1,939 | 2,311 |
Income tax payable | 1,720 | 2,210 |
Provision for bonuses | 97 | 65 |
Other | 2,527 | 2,578 |
Total current liabilities | 9,323 | 10,392 |
Long-term liabilities | 720 | |
Lease obligations | 742 | |
Guarantee deposits received | 11,165 | 11,055 |
Deferred tax liabilities | 658 | 676 |
Net defined benefit liability | 557 | 552 |
Other | 119 | 125 |
Total long-term liabilities | 13,241 | 13,131 |
Total liabilities | 22,564 | 23,523 |
NET ASSETS | ||
Shareholders' equity | 7,319 | |
Common stock | 7,319 | |
Retained earnings | 43,768 | 37,057 |
Treasury stock | (2) | (2) |
Total shareholders' equity | 51,084 | 44,373 |
Accumulated other comprehensive income | 1,909 | |
Net unrealized gain on other securities | 1,951 | |
Foreign currency translation adjustments | 461 | 708 |
Remeasurements of defined benefit plans, net of tax | (20) | (19) |
Total accumulated other comprehensive income | 2,392 | 2,598 |
Non-controlling interests | 428 | 525 |
Total net assets | 53,906 | 47,498 |
Total liabilities and net assets | 76,471 | 71,021 |
- 7 -
-
Quarterly consolidated statements of income and comprehensive income Quarterly consolidated statements of income
First three months of the fiscal year ending September 30, 2025
(Millions of yen) | ||
Three months ended | Three months ended | |
December, 31, 2023 | December, 31, 2024 | |
Net sales | 16,614 | 16,802 |
Cost of sales | 5,049 | 5,449 |
Gross profit | 11,565 | 11,352 |
Selling, general and administrative expenses | 8,030 | 8,179 |
Operating income | 3,534 | 3,173 |
Non-operating income | ||
Interest income | 9 | 15 |
Dividend income | 12 | 15 |
Gain on currency translation | － | 29 |
Other | 34 | 42 |
Total | 56 | 101 |
Non-operating expenses | ||
Loss on currency translation | 17 | － |
Other | 0 | 0 |
Total | 17 | 0 |
Ordinary income | 3,573 | 3,274 |
Extraordinary income | ||
Gain on sale of non-current assets | 0 | － |
Total | 0 | － |
Extraordinary losses | ||
Loss on disposal of non-current assets | 0 | 0 |
Total | 0 | 0 |
Income before income taxes | 3,573 | 3,273 |
Income taxes - basic | 2,413 | 2,106 |
Income taxes - deferred | 127 | 122 |
Total | 2,540 | 2,229 |
Net income | 1,033 | 1,044 |
Net income attributable to non-controlling interests | 26 | 70 |
Net income attributable to owners of the parent | 1,006 | 973 |
- 8 -
Quarterly consolidated statements of comprehensive income
First three months of the fiscal year ending September 30, 2025
(Millions of yen) | ||
Three months ended | Three months ended | |
December, 31, 2023 | December, 31, 2024 | |
Net income | 1,033 | 1,044 |
Other comprehensive income | ||
Net unrealized gain on other securities | 139 | (42) |
Foreign currency translation adjustments | (117) | 272 |
Remeasurements of defined benefit plans, net of tax | 3 | 1 |
Total | 25 | 232 |
Comprehensive income | 1,058 | 1,276 |
(Breakdown) | ||
Comprehensive income attributable to owners of the parent | 1,043 | 1,179 |
Comprehensive income attributable to non-controlling interests | 15 | 96 |
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(3) Quarterly consolidated statements of cash flows
(Millions of yen) | ||
Three months ended | Three months ended | |
December, 31, 2023 | December, 31, 2024 | |
Cash flows from operating activities | 3,273 | |
Income before income taxes | 3,573 | |
Depreciation | 213 | 196 |
Amortization of goodwill | 7 | 8 |
Increase (decrease) in allowance for doubtful accounts | (0) | 11 |
Increase (decrease) in provision for bonuses | (41) | (31) |
Increase (decrease) in net defined benefit asset and liability | 1 | (4) |
Increase (decrease) in accounts payable due to transition to a | (13) | － |
retirement benefit plan | ||
(30) | ||
Interest and dividends received | (21) | |
Loss (gain) on currency translation | 10 | (18) |
Loss (gain) on sales of disposal of non-current assets | (0) | 0 |
Decrease (increase) in trade receivables | 73 | (377) |
Decrease (increase) in inventories | (1) | (235) |
Increase (decrease) in trade payables | 120 | 169 |
Increase (decrease) in guarantee deposits | (108) | (109) |
Other | 419 | 217 |
Subtotal | 4,231 | 3,070 |
Interest and dividends received | 20 | 27 |
Income tax (paid) refunded | (497) | (1,542) |
Net cash provided by (used in) operating activities | 3,754 | 1,555 |
Cash flows from investing activities | (15) | |
Expenditure for deposit to time deposits | (25) | |
Proceeds from withdrawal of time deposits | 25 | 15 |
Purchase of securities | － | (9,993) |
Purchase of investment securities | (0) | (0) |
Purchase of property, plant and equipment | (289) | (90) |
Proceeds from sale of property, plant and equipment | 0 | － |
Purchase of intangible assets | (2) | (0) |
Net cash provided by (used in) investing activities | (292) | (10,084) |
Cash flows from financing activities | (7,626) | |
Cash dividends paid | (7,441) | |
Other | (21) | (21) |
Net cash provided by (used in) financing activities | (7,463) | (7,647) |
Effects of exchange rate changes on cash and cash equivalents | (95) | 230 |
Net change in cash and cash equivalents | (4,095) | (15,946) |
Cash and cash equivalents, beginning of the period | 26,166 | 29,006 |
Cash and cash equivalents, end of the period | 22,070 | 13,059 |
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