Consolidated Financial Statements and Auditor's Report
Year ended March 31, 2025
Press Kogyo Co., Ltd.
Press Kogyo Co., Ltd. and Consolidated SubsidiariesConsolidated Balance Sheets
March 31, 2025, 2024 and 2023
Assets | 2025 | Millions of Yen 2024 | 2023 | Thousands of U.S. Dollars (Note 1) 2025 | ||||
Current Assets: Cash and time deposits (Notes 14 and 16) | 26,269 | 28,722 | 22,344 | $ 175,681 | ||||
Receivables: Notes receivable (Notes 6 and 14) | 47 | 55 | 36 | 316 | ||||
Accounts receivable - trade (Note 14) | 36,027 | 38,612 | 41,097 | 240,938 | ||||
Electronically recorded monetary claims - operating (Notes 6 and 14) | 3,180 | 4,591 | 2,954 | 21,267 | ||||
Allowance for doubtful accounts | (6) | (16) | (14) | (42) | ||||
Inventories (Note 8) | 16,144 | 14,132 | 15,668 | 107,971 | ||||
Income taxes receivable | 48 | 8 | 20 | 321 | ||||
Other current assets | 6,078 | 5,670 | 4,958 | 40,648 | ||||
Total current assets | 87,789 | 91,777 | 87,065 | 587,102 | ||||
Property, Plant and Equipment: | ||||||||
Land (Notes 9 and 10) | 32,781 | 32,582 | 32,441 | 219,228 | ||||
Buildings and structures (Notes 9 and 21) | 49,146 | 44,715 | 41,662 | 328,674 | ||||
Machinery and equipment (Notes 9 and 21) | 183,240 | 167,446 | 149,661 | 1,225,445 | ||||
Construction in progress | 12,989 | 9,167 | 9,970 | 86,871 | ||||
Total property, plant and equipment | 278,158 | 253,911 | 233,735 | 1,860,220 | ||||
Accumulated depreciation | (184,609) | (169,292) | (155,941) | (1,234,598) | ||||
Net property, plant and equipment | 93,549 | 84,618 | 77,794 | 625,621 | ||||
Investments and Other Assets: | ||||||||
Investment securities (Notes 7 and 14) | 8,001 | 8,851 | 6,970 | 53,509 | ||||
Deferred tax assets (Note 13) | 1,558 | 1,547 | 1,388 | 10,423 | ||||
Asset for retirement benefits (Note 11) | 5,286 | 3,396 | 3,561 | 35,353 | ||||
Other assets | 1,579 | 1,550 | 1,621 | 10,562 | ||||
Total investments and other assets | 16,425 | 15,346 | 13,541 | 109,849 | ||||
Total Assets | 197,764 | 191,742 | 178,402 | $ 1,322,573 | ||||
See accompanying notes.
Millions of Yen | Thousands of U.S. Dollars (Note 1) | ||||||
Liabilities and Net Assets | 2025 | 2024 | 2023 | 2025 | |||
Current Liabilities: | |||||||
Short-term borrowings and long-term borrowings due within one year (Notes 9 and 14) | 8,102 | 5,770 | 6,441 | $ 54,188 | |||
Notes and accounts payable - trade (Note 14) | 24,061 | 27,494 | 25,541 | 160,912 | |||
Electronically recorded obligations - operating (Note 14) | 5,474 | 6,130 | 5,945 | 36,612 | |||
Income taxes payable (Note 13) | 809 | 1,321 | 956 | 5,415 | |||
Allowance for bonuses to employees | 3,561 | 3,368 | 3,486 | 23,815 | |||
Lease obligations (Notes 9 and 14) | 37 | 83 | 117 | 252 | |||
Contract liabilities (Note 24) | 787 | 431 | 230 | 5,266 | |||
Accrued expenses and other current liabilities | 10,782 | 11,112 | 8,927 | 72,111 | |||
Total current liabilities | 53,617 | 55,713 | 51,646 | 358,575 | |||
Long-term Liabilities: | |||||||
Long-term borrowings (Notes 9 and 14) | 1,664 | 1,632 | 2,511 | 11,134 | |||
Long-term income taxes payable | 70 | - | - | 468 | |||
Liability for retirement benefits (Note 11) | 2,837 | 2,470 | 2,276 | 18,977 | |||
Deferred tax liabilities (Note 13) | 3,195 | 2,837 | 2,198 | 21,368 | |||
Deferred tax liabilities on land revaluation excess (Note 10) | 7,822 | 7,601 | 7,601 | 52,314 | |||
Lease obligations (Notes 9 and 14) | 267 | 262 | 299 | 1,791 | |||
Asset retirement obligations (Note 22) | 404 | 404 | 405 | 2,708 | |||
Other long-term liabilities | 401 | 375 | 375 | 2,683 | |||
Total long-term liabilities | 16,664 | 15,584 | 15,668 | 111,446 | |||
Net Assets (Note 12) Shareholders' Equity: Common stock: Authorized | - 240,000,000 shares | ||||||
Issued | - 100,000,000 shares | 8,070 | 8,070 | 8,070 | 53,970 | ||
Capital surplus | 2,074 | 2,074 | 2,074 | 13,874 | |||
Retained earnings | 74,546 | 72,957 | 67,980 | 498,541 | |||
Treasury stock, at cost | (353) | (2,183) | (1,936) | (2,360) | |||
Total shareholders' equity Accumulated Other Comprehensive Income: Unrealized gains on securities, net of tax | 84,338 3,273 | 80,918 3,551 | 76,189 2,219 | 564,025 21,892 | |||
Land revaluation difference, net of tax (Note 10) | 17,034 | 17,255 | 17,255 | 113,921 | |||
Foreign currency translation adjustments | 7,766 | 5,647 | 3,858 | 51,938 | |||
Remeasurements of defined benefit plans (Note 11) | 1,579 | 447 | 745 | 10,562 | |||
Total accumulated other comprehensive income | 29,654 | 26,902 | 24,078 | 198,314 | |||
Non-controlling Interests | 13,489 | 12,623 | 10,819 | 90,210 | |||
Total net assets | 127,481 | 120,444 | 111,087 | 852,551 | |||
Total Liabilities and Net Assets | 197,764 | 191,742 | 178,402 | $ 1,322,573 | |||
See accompanying notes.
Press Kogyo Co., Ltd. and Consolidated Subsidiaries Consolidated Statements of Income
Years ended March 31, 2025, 2024 and 2023
Millions of Yen | Thousands of U.S. Dollars (Note 1) | |||
2025 2024 | 2023 | 2025 |
Net Sales (Notes 24 and 25) | 189,883 | 197,817 | 184,844 | $ 1,269,871 | |||
Cost of Sales (Note 18) | 164,125 | 169,375 | 157,132 | 1,097,606 | |||
Gross Profit | 25,758 | 28,441 | 27,711 | 172,264 | |||
Selling, General and Administrative Expenses (Notes 17 and 18) | 16,112 | 15,633 | 14,601 | 107,752 | |||
Operating Income (Note 25) | 9,646 | 12,807 | 13,110 | 64,511 | |||
Other Income (Expenses): Interest and dividend income | 581 | 553 | 333 | 3,886 | |||
Interest expenses | (381) | (393) | (263) | (2,553) | |||
Foreign exchange gains | 331 | 366 | 436 | 2,215 | |||
Losses on sales and disposals of property, plant and equipment, net | (74) | (75) | (132) | (499) | |||
Rent income on non-current assets | 42 | 51 | 54 | 286 | |||
Gain on sales of investment securities, net (Note 7) | 169 | 462 | - | 1,134 | |||
Impairment losses (Note 20) | (145) | (225) | (1,849) | (973) | |||
Gain on liquidation of subsidiaries | - | - | 885 | - | |||
Compensation associated with the renunciation of land use rights | - | 522 | 216 | - | |||
Other - net | 59 | 74 | 43 | 399 | |||
Total Other Income (expenses) | 582 | 1,337 | (276) | 3,897 | |||
Income before Income Taxes Income Taxes (Note 13): Current | 10,229 2,749 | 14,145 3,479 | 12,833 3,067 | 68,409 18,390 | |||
Global minimum tax | 70 | - | - | 468 | |||
Deferred | 1 | 141 | 283 | 6 | |||
Total Income Taxes | 2,821 | 3,620 | 3,351 | 18,866 | |||
Net Income | 7,408 | 10,524 | 9,482 | 49,542 | |||
Net Income Attributable to Non-controlling Interests | 1,327 | 2,445 | 2,689 | 8,876 | |||
Net Income Attributable to Owners of the Parent | 6,080 | 8,078 | 6,793 | $ 40,666 | |||
Yen | U.S. Dollars (Note 1) | ||||||
Amounts per share (Note 19): Net income | 60.99 | 79.41 | 65.54 | $ 0.40 | |||
Cash dividends applicable to the year | 32.00 | 26.00 | 21.00 | 0.21 |
See accompanying notes.
Press Kogyo Co., Ltd. and Consolidated Subsidiaries Consolidated Statements of Comprehensive Income
Years ended March 31, 2025, 2024 and 2023
Millions of Yen
Thousands of
U.S. Dollars (Note 1)
2025 2024 2023 2025
Net Income 7,408 10,524 9,482 $ 49,542
Other Comprehensive Income (Note 23):
Unrealized gains (losses) on securities, net of tax | (278) | 1,332 26 (1,861) | |||||
Land revaluation difference, net of tax | (221) | - | - | (1,479) | |||
Foreign currency translation adjustments | 3,574 | 2,672 | 3,021 | 23,901 | |||
Remeasurements of defined benefit plans (Note 11) | 1,131 | (298) | (309) | 7,570 | |||
Total other comprehensive income | 4,206 | 3,707 | 2,738 | 28,130 | |||
Comprehensive Income | 11,614 | 14,232 | 12,220 | $ 77,673 | |||
Comprehensive Income Attributable to: Owners of the parent | 8,832 | 10,902 | 8,608 | $ 59,067 | |||
Non-controlling interests | 2,782 | 3,329 | 3,612 | 18,606 | |||
See accompanying notes.