News Release: Sansei Landic Co., Ltd. | (3277 TSE Standard) | |
May 13, 2022 |
Notice of Impact on Business Results Due to Change in Consolidated Subsidiary (Transfer
of Shares), etc. and Revision to Business Forecasts
We hereby announce the impact on our business performance, which was under scrutiny in "Notice regarding Waiver of Loans to a Consolidated Subsidiary and the Transfer of Shares" released on March 24, 2022. We also announce that we have revised our business forecasts for the fiscal year ending December 2022, which was announced on February 14, 2022, as follows.
1. Business performance impact associated with change in a consolidated subsidiary (transfer of shares), etc.
As stated in "Notice regarding Waiver of Loans to a Consolidated Subsidiary and the Transfer of Shares" released on March 24, 2022, we waived our loans (hereinafter referred to as the "waiver of loans") to our consolidated subsidiary, One's Life Home, Inc. (hereinafter referred to as the "OLH"), and have transferred all of our stock in OLH (hereinafter referred to as the "transfer of shares") on March 31, 2022.
The waiver of loans will have no impact on both consolidated and non-consolidated financial results because the waiver of loans is for a consolidated subsidiary and the allowance for doubtful accounts has been recorded in a prior year in the non- consolidated financial statements.
Although the impact of the loss (gain) on sales of shares of subsidiaries and associates through the transfer of shares on both consolidated and non-consolidated business results is expected to be minor, the impact on the calculation of income taxes associated with the waiver of loans and the transfer of shares is expected to be a decrease of approximately 230 million yen in income taxes.
The impact of the exclusion of OLH from the scope of consolidation of the Company through the transfer of shares is a decrease of 1,134 million yen in net sales in the consolidated financial results; however, the impact on operating income, ordinary income, and net income is minimal.
2. Revision of the consolidated business forecasts
- Revision of consolidated business forecasts for the 1st half of the fiscal year ending December 2022 (January 1, 2022 to June 30, 2022)
Net income | ||||||
Net sales | Operating | Ordinary | attributable to | Net income | ||
income | income | owners of | per share | |||
parent | ||||||
Previous forecast (A) | Million yen | Million yen | Million yen | Million yen | Yen | |
(Announced on February 14, | 7,052 | 395 | 317 | 201 | 24.49 | |
2022) | ||||||
Revised forecast (B) | 8,290 | 839 | 761 | 669 | 81.14 | |
Increase/decrease (B-A) | 1,237 | 444 | 444 | 467 | ||
Rate of change (%) | 17.6% | 112.6% | 139.9% | 231.4% | ||
(Reference) Previous results | ||||||
(1st half of the fiscal year | 9,109 | 689 | 631 | 402 | 48.37 | |
ended December 2021) |
News Release: Sansei Landic Co., Ltd. | (3277 TSE Standard) |
- Revision of full-year consolidated business forecasts for the fiscal year ending December, 2022 (January 1, 2022 to December 31, 2022)
Net income | ||||||
Net sales | Operating | Ordinary | attributable to | Net income | ||
income | income | owners of | per share | |||
parent | ||||||
Previous forecast (A) | Million yen | Million yen | Million yen | Million yen | Yen | |
(Announced on February 14, | 18,235 | 1,301 | 1,142 | 754 | 91.52 | |
2022) | ||||||
Revised forecast (B) | 17,103 | 1,402 | 1,226 | 1,058 | 128.40 | |
Increase/decrease (B-A) | (1,131) | 100 | 83 | 304 | ||
Rate of change (%) | (6.2%) | 7.8% | 7.3% | 40.3% | ||
(Reference) Previous results | ||||||
(Fiscal year ended December | 16,836 | 1,117 | 999 | 609 | 73.56 | |
2021) | ||||||
(3) Reasons for revision of consolidated business forecasts
Regarding the consolidated business forecasts for the 1st half of the fiscal year ending December 2022, net sales are projected to exceed the forecasts as the adjustment of the rights of old unutilized properties scheduled for sale in the second half progressed steadily and the sales period is expected to be moved up to the first half of the current fiscal year in our Group's mainstay "Real Estate Sales Business" although net sales will decrease due to the exclusion of OLH from the scope of consolidation of the Company.
In addition, operating income and ordinary income are expected to exceed the forecasts due to higher-than-expected sales prices and cost reductions under the strong real estate market in old unutilized properties, and net income is expected to exceed the forecasts due to a decrease in income taxes for the reasons as described in 1.
As for the full-year consolidated business forecasts for the fiscal year ending December 2022, although net sales will decrease due to the exclusion of OLH from the scope of consolidation of the Company, each income is expected to exceed the forecasts due to the expected steady growth of the Real Estate Sales Business as mentioned above.
Accorgingly, we have revised our consolidated business forecasts for the 1st half and full year of the fiscal year ending December 2022 as above.
3. Revision of non-consolidated business forecasts
- Revision of non-consolidated business forecasts for the 1st half of the fiscal year ending December 2022 (January 1, 2022 to June 30, 2022)
Net sales | Ordinary income | Net income | Net income per | ||
share | |||||
Previous forecast (A) | Million yen | Million yen | Million yen | Yen | |
(Announced on February 14, | 6,546 | 358 | 243 | 29.47 | |
2022) | |||||
Revised forecast (B) | 8,066 | 778 | 658 | 79.84 | |
Increase/decrease (B-A) | 1,520 | 419 | 415 | ||
Rate of change (%) | 23.2% | 117.0% | 170.9% | ||
(Reference) Previous results | |||||
(1st half of the fiscal year ended | 8,605 | 542 | 313 | 37.67 | |
December 2021) |
News Release: Sansei Landic Co., Ltd. | (3277 TSE Standard) |
- Revision of full-yearnon-consolidated business forecasts for the fiscal year ending December, 2022 (January 1, 2022 to December 31, 2022)
Net sales | Ordinary income | Net income | Net income per | ||
share | |||||
Previous forecast (A) | Million yen | Million yen | Million yen | Yen | |
(Announced on February 14, | 16,865 | 1,140 | 752 | 91.23 | |
2022) | |||||
Revised forecast (B) | 16,875 | 1,241 | 1,046 | 126.87 | |
Increase/decrease (B-A) | 10 | 101 | 293 | ||
Rate of change (%) | 0.1% | 8.9% | 39.1% | ||
(Reference) Previous results | |||||
(Fiscal year ended December | 15,529 | 993 | 603 | 72.85 | |
2021) | |||||
(3) Reason for revision
For the reasons stated in 2.(3) , we have revised the non-consolidated business forecasts as described above.
*This revision to business forecasts is based on information currently available to the Company and certain assumptions that the Company believes are reasonable. Actual results may differ from these forecasts due to various factors that may arise in the future.