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 | |
[Under Japanese GAAP] | |
November 12, 2024 | |
Company name: | Oriental Shiraishi Corporation |
Listing: | Tokyo Stock Exchange |
Securities code: | 1786 |
URL: | https://www.orsc.co.jp/english/ |
Representative: | Tatsuya Ohno, President and CEO |
Inquiries: | Yukihiko Hashimoto, Director; General Manager, Administration Division |
Telephone: | +81-3-6220-0630 |
Scheduled date to file semi-annual securities report: | November 12, 2024 |
Scheduled date to commence dividend payments: | December 12, 2024 |
Preparation of supplementary material on financial results: | None |
Holding of financial results briefing: | Scheduled (for investors and analysts) |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the six months ended September 30, 2024 (from April 1, 2024 to September 30, 2024)
(1) Consolidated operating results (cumulative)
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||
September 30, 2024 | 33,045 | 7.5 | 4,018 | 68.1 | 4,060 | 65.5 | 2,739 | 63.6 | ||||||||
September 30, 2023 | 30,742 | 17.3 | 2,390 | 20.5 | 2,453 | 16.0 | 1,674 | 15.6 | ||||||||
Note: | Comprehensive income: | For six months ended September 30, 2024: ¥2,823 million [48.2%] | ||||||||||||||
For six months ended September 30, 2023: ¥1,905 million [30.2%] | ||||||||||||||||
Basic earnings | Diluted earnings | |||||||||||||||
per share | per share | |||||||||||||||
Six months ended | Yen | Yen | ||||||||||||||
September 30, 2024 | 20.67 | － | ||||||||||||||
September 30, 2023 | 13.18 | － | ||||||||||||||
Note: | Diluted earnings per share are not indicated as there are no potential shares. | |||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity-to-asset ratio | Net assets per share | |||||||||||||
As of | Million yen | Million yen | % | Yen | ||||||||||||
September 30, 2024 | 74,370 | 51,725 | 69.6 | 390.29 | ||||||||||||
March 31, 2024 | 72,923 | 49,962 | 68.5 | 377.12 | ||||||||||||
Reference: Equity: | As of September 30, 2024: | ¥51,725 million | ||||||||||||||
As of March 31, 2024: | ¥49,962 million |
2. Cash dividends
Annual dividends per share | |||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | ||||
Yen | |||||||
Fiscal year ended | Yen | Yen | Yen | ||||
- | 6.50 | - | 8.00 | ||||
March 31, 2024 | |||||||
Fiscal year ending | - | 7.00 | |||||
March 31, 2025 | |||||||
Fiscal year ending | - | 7.50 | |||||
March 31, 2025 | |||||||
(forecast) |
Total
Yen 14.50
14.50
Note: Revisions to the forecasts of cash dividends most recently announced: None
3. Consolidated financial results forecast for the fiscal 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 | Basic earnings | |||||
owners of parent | per share | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
Full year | 65,000 | (3.5) | 5,000 | (23.5) | 5,000 | (24.0) | 3,500 | (24.5) | 26.42 |
Note: Revisions to the forecasts of cash dividends most recently announced: None
* Notes
- Significant changes in the scope of consolidation during the period: None
- Adoption of accounting treatment specific to the preparation of semi-annual 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: 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)
As of September 30, 2024 | 138,809,400 shares |
As of March 31, 2024 | 138,809,400 shares |
(ii) Number of treasury shares at the end of the period | |
As of September 30, 2024 | 6,278,238 shares |
As of March 31, 2024 | 6,323,033 shares |
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2024 | 132,499,704 shares |
Six months ended September 30, 2023 | 127,080,398 shares |
- Semi-annualfinancial results are outside the scope of review by certified public accountants or an audit firm.
- Proper use of earnings forecasts, and other special matters
Financial results forecast and other forward-looking statements presented herein are based on the information the Company currently possesses and the assumptions it deems reasonable. Actual outcomes, etc. may diverge significantly from them due to wide-ranging factors.
(1) Semi-annual Consolidated Balance Sheets
(Million yen) | ||||
As of March 31, 2024 | As of September 30, 2024 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 20,230 | 24,745 | ||
Notes receivable, accounts receivable from | 30,845 | 30,347 | ||
completed construction contracts and other | ||||
Costs on construction contracts in progress | 1,408 | 1,037 | ||
Raw materials and supplies | 343 | 291 | ||
Advances paid | 1,542 | 1,089 | ||
Consumption taxes refund receivable | 2,043 | 60 | ||
Other | 618 | 733 | ||
Allowance for doubtful accounts | (2) | (3) | ||
Total current assets | 57,029 | 58,302 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 1,765 | 1,794 | ||
Machinery and equipment, net | 2,427 | 2,219 | ||
Land | 5,189 | 5,189 | ||
Construction in progress | 691 | 1,091 | ||
Other, net | 241 | 232 | ||
Total property, plant and equipment | 10,314 | 10,526 | ||
Intangible assets | ||||
Goodwill | 991 | 920 | ||
Software | 341 | 254 | ||
Other | 7 | 19 | ||
Total intangible assets | 1,340 | 1,193 | ||
Investments and other assets | ||||
Investment securities | 3,666 | 3,760 | ||
Retirement benefit asset | 38 | 38 | ||
Deferred tax assets | 199 | 215 | ||
Other | 378 | 374 | ||
Allowance for doubtful accounts | (44) | (42) | ||
Total investments and other assets | 4,239 | 4,347 | ||
Total non-current assets | 15,894 | 16,067 | ||
Total assets | 72,923 | 74,370 |
1
(Million yen)
As of March 31, 2024 | As of September 30, 2024 |
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Accrued consumption taxes
Advances received on construction contracts in progress
Deposits received Provision for bonuses
Provision for loss on construction contracts Provision for warranties for completed
construction Other
Total current liabilities
Non-current liabilities
11,493 | 8,307 | ||
600 | 300 | ||
373 | 373 | ||
736 | 395 | ||
889 | 1,695 | ||
123 | 653 | ||
1,896 | 3,094 | ||
573 | 1,063 | ||
20 | 922 | ||
111 | 109 | ||
39 | 40 | ||
469 | 198 | ||
17,326 | 17,155 |
Long-term borrowings | 2,538 | 2,651 | ||||
Provision for share-based payments | 159 | 184 | ||||
Provision for special repairs | 5 | 4 | ||||
Retirement benefit liability | 2,350 | 2,459 | ||||
Deferred tax liabilities | 391 | 113 | ||||
Other | 187 | 75 | ||||
Total non-current liabilities | 5,633 | 5,488 | ||||
Total liabilities | 22,960 | 22,644 | ||||
Net assets | ||||||
Shareholders' equity | ||||||
Share capital | 5,000 | 5,000 | ||||
Capital surplus | 2,072 | 2,072 | ||||
Retained earnings | 42,538 | 44,203 | ||||
Treasury shares | (709) | (697) | ||||
Total shareholders' equity | 48,901 | 50,579 | ||||
Accumulated other comprehensive income | ||||||
Valuation difference on available-for-sale | 918 | 992 | ||||
securities | ||||||
Remeasurements of defined benefit plans | 143 | 153 | ||||
Total accumulated other comprehensive income | 1,061 | 1,146 | ||||
Total net assets | 49,962 | 51,725 | ||||
Total liabilities and net assets | 72,923 | 74,370 |
2
- Semi-annualConsolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statements of Income
(Million yen) | |||
For the six months ended | For the six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Net sales | |||
Net sales of completed construction contracts | 30,742 | 33,045 | |
Cost of sales | |||
Cost of sales of completed construction contracts | 25,135 | 26,180 | |
Gross profit | |||
Gross profit on completed construction contracts | 5,607 | 6,864 | |
Selling, general and administrative expenses | 3,216 | 2,845 | |
Operating profit | 2,390 | 4,018 |
Non-operating income
Interest income
Dividend income
Patent royalties
Gain on sale of scraps
Other
Total non-operating income
Non-operating expenses
Interest expenses
Advances received deposits
Commission expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit
Profit attributable to non-controlling interests
Profit attributable to owners of parent
2 | 3 |
36 | 37 |
39 | 17 |
24 | 9 |
15 | 22 |
118 | 90 |
8 | 8 |
26 | 15 |
6 | 10 |
13 | 14 |
54 | 48 |
2,453 | 4,060 |
12 | － |
12 | － |
－ | 37 |
－ | 37 |
2,466 | 4,022 |
1,026 | 1,616 |
(235) | (332) |
791 | 1,283 |
1,674 | 2,739 |
－ | － |
1,674 | 2,739 |
3
Semi-annual Consolidated Statements of Comprehensive Income
(Million yen) | ||
For the six months ended | For the six months ended | |
September 30, 2023 | September 30, 2024 | |
Profit | 1,674 | 2,739 |
Other comprehensive income |
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to Comprehensive income attributable to owners of
parent
Comprehensive income attributable to non-controlling interests
206 | 74 | ||
24 | 10 | ||
230 | 84 | ||
1,905 | 2,823 | ||
1,905 | 2,823 | ||
－ | － | ||
4