News Release: SANSEI LANDIC CO.,LTD | (3277 TSE1) |
February 14, 2022
Notice Concerning Difference between Business Forecasts and Actual Results
for the Fiscal Year Ended December 2021 and
Revision to Dividend Forecast
Sansei Landic Co., Ltd announces its difference between business forecasts for the fiscal year ended December 2021 announced on February 12, 2021 and its actual results announced today. In addition, the Company also announces revision to its dividend forecast.
1. Difference between consolidated business forecasts and actual results
- Fiscal year ended December 2021 (January 1, 2021 - December 31, 2021)
Net income | ||||||
Net sales | Operating | Ordinary | attributable to | Net income | ||
Income | Income | owners of | per share | |||
parent | ||||||
Previous forecasts (A) | Million yen | Million yen | Million yen | Million yen | Yen | |
(announced on February | 18,385 | 919 | 762 | 505 | 59.88 | |
12, 2021) | ||||||
Actual results (B) | 16,836 | 1,117 | 999 | 609 | 73.56 | |
Increase/decrease | -1,549 | 198 | 237 | 104 | ||
(B-A) | ||||||
Change rate (%) | -8.4% | 21.6% | 31.1% | 20.6% | ||
(Reference) | ||||||
Previous results | 17,774 | 847 | 709 | 357 | 42.34 | |
(FY12/20) | ||||||
2. Reason for the revision
With regard to the consolidated business forecasts for the fiscal year ended December 2021, the Company had made a conservative plan since the business environment remained severe with no prospect for containment of COVID-19.
In our core Real Estate Sales Business, although we have been taking measures to prevent COVID-19 in sales activities, we experienced delays in real estate sales, cancellation of transactions, and delays in the sales period due to the 5th wave of COVID-19. However, gross profit increased significantly due to an increase in the sales ratio of leasehold land and a higher-than-expected profit margin for both leasehold land, old unutilized properties, and freehold. As a result, expenses decreased significantly, and operating income and other income items exceeded the plan.
In the Construction Business, net sales and income from custom-built houses and renovations fell short of the plan mainly due to soaring prices for building materials and significantly exceeding the costs originally expected for reinforced concrete (RC) property under construction.
Consequently, the Company has revised the business forecasts for the fiscal year ended December 2021 as described above.
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2. Revision to non-consolidated business forecasts
- Fiscal year ended December 2021 (January 1, 2021 - December 31, 2021)
Net sales | Ordinary | Net income | Net income | |||
Income | per share | |||||
Previous forecasts (A) | Million yen | Million yen | Million yen | Yen | ||
(announced on February 12, | 17,706 | 762 | 505 | 59.93 | ||
2021) | ||||||
Actual results (B) | 15,529 | 993 | 603 | 72.85 | ||
Increase/decrease | -2,176 | 230 | 97 | |||
(B-A) | ||||||
Change rate (%) | -12.3% | 30.2% | 19.3% | |||
(Reference) | ||||||
Previous results | 16,111 | 671 | 177 | 21.00 | ||
(FY12/20) | ||||||
(2) Reason for the revision
As for the non-consolidated business forecasts for the fiscal year ended December 2021, despite net sales falling short of the plan by 2,176 million yen, ordinary income and net income are expected to exceed the plan by 230 million yen and 97 million yen, respectively. These changes are attributable to the fact that net sales in the Real Estate Sales Business were below the plan for the reasons stated in 1. (2), and the Company halted the merger with a consolidated subsidiary planned in July 2021.
Accordingly, the Company also revised the non-consolidated business forecasts for the fiscal year ended December 2021 as above.
3. Revision to dividend forecast
(1) Contents of the revision
Annual dividend
End-2Q | Year-end | Total | |
Previous forecasts | 25.00 yen | 25.00 yen | |
Revised forecasts | 26.00 yen | 26.00 yen | |
Current results | 0.00 yen | ||
Previous results | 0.00 yen | 25.00 yen | 25.00 yen |
(FY12/20) | |||
(2) Reason for the revision
The Company's basic dividend policy is to pay continuous and stable dividends and to actively return profits to shareholders in accordance with our operating results by improving profitability and securing funds for dividends.
Based on this policy, the Company has revised the year-end dividend forecast from 25 yen to 26 yen per share based on the revisions to the above forecasts.
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