Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Three Months Ended June 30, 2024 (Based on Japanese GAAP)
August 1, 2024 | ||||
Company name: | SATOSHOJI CORPORATION | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 8065 | URL http://www.satoshoji.co.jp | ||
Representative: | Representative Director, President | Tetsuo Nozawa | ||
Inquiries: | General Manager of Financial Dept. | Akihito Okeda | TEL 03-5218-5312 | |
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on financial results: | No | |||
Holding of financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | ||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
Three months ended June 30, 2024 | 68,570 | 2.7 | 1,194 | (11.4) | 1,551 | (4.7) | 1,693 | 45.0 | |
Three months ended June 30, 2023 | 66,769 | 2.7 | 1,348 | 4.8 | 1,628 | (2.6) | 1,167 | 0.8 |
Earnings per share | Diluted earnings per share | ||||
Yen | Yen | ||||
Three months ended June 30, 2024 | 80.58 | 78.94 | |||
Three months ended June 30, 2023 | 55.38 | 54.12 | |||
(2) Consolidated financial position | |||||
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of June 30, 2024 | 176,589 | 65,917 | 37.2 | ||
As of March 31, 2024 | 172,870 | 65,202 | 37.5 |
2. Cash dividends | ||||
Annual dividends per share | ||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | |
Yen | Yen | Yen | Yen | |
Year ended March 31, 2024 | - | 32.00 | - | 41.00 |
Year ending March 31, 2025 | - | |||
Year ending March 31, 2025 (Forecast) | 34.00 | - | 34.00 |
Total
Yen 73.00
68.00
3. Forecast of consolidated financial results for the 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 | Earnings per share | ||||||
owners of parent | ||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
136,000 | 0.4 | 2,650 | (6.7) | 2,850 | (8.8) | 2,550 | (8.5) | 120.85 | ||
September 30, 2024 | ||||||||||
Full year | 285,000 | 4.0 | 6,550 | 1.1 | 6,850 | (6.1) | 5,350 | (17.4) | 253.55 |
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4. Notes | ||
(1) | Significant changes in the scope of consolidation during the three months ended June 30, 2024: | No |
(2) | Application of special accounting methods for preparing quarterly consolidated financial statements: | No |
(3) | Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No | |
Changes in accounting policies due to other reasons: | No | |
Changes in accounting estimates: | No | |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024 | 21,799,050 | shares | As of March 31, 2024 | 21,799,050 | shares | |
Number of treasury shares at the end of the period | ||||||
As of June 30, 2024 | 669,953 | shares | As of March 31, 2024 | 764,743 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended June 30, 2024 | 21,022,352 | shares | Three months ended June 30, 2023 | 21,088,558 | shares |
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | ||
As of March 31, 2024 | As of June 30, 2024 | |
Assets | ||
Current assets | ||
Cash and deposits | 3,175 | 4,105 |
Notes receivable - trade | 6,298 | 5,750 |
Electronically recorded monetary claims - operating | 31,395 | 31,654 |
Accounts receivable - trade | 53,720 | 54,752 |
Merchandise and finished goods | 28,956 | 30,136 |
Other | 4,933 | 5,280 |
Allowance for doubtful accounts | (212) | (328) |
Total current assets | 128,267 | 131,352 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 6,115 | 6,022 |
Land | 13,001 | 14,550 |
Other, net | 2,544 | 2,999 |
Total property, plant and equipment | 21,661 | 23,572 |
Intangible assets | 186 | 311 |
Investments and other assets | ||
Investment securities | 20,498 | 18,957 |
Deferred tax assets | 90 | 78 |
Retirement benefit asset | 1,079 | 1,054 |
Other | 1,157 | 1,342 |
Allowance for doubtful accounts | (71) | (80) |
Total investments and other assets | 22,755 | 21,352 |
Total non-current assets | 44,602 | 45,236 |
Total assets | 172,870 | 176,589 |
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(Millions of yen) | ||
As of March 31, 2024 | As of June 30, 2024 | |
Liabilities | ||
Current liabilities | ||
Accounts payable - trade | 55,178 | 56,122 |
Electronically recorded obligations - operating | 13,127 | 13,270 |
Short-term borrowings | 18,165 | 19,935 |
Income taxes payable | 1,147 | 1,028 |
Contract liabilities | 451 | 1,027 |
Provision for bonuses | 1,489 | 740 |
Other | 2,570 | 3,860 |
Total current liabilities | 92,128 | 95,984 |
Non-current liabilities | ||
Long-term borrowings | 10,657 | 10,194 |
Deferred tax liabilities | 4,311 | 3,898 |
Retirement benefit liability | 172 | 207 |
Provision for retirement benefits for directors (and other | 58 | 59 |
officers) | ||
Other | 338 | 326 |
Total non-current liabilities | 15,538 | 14,686 |
Total liabilities | 107,667 | 110,671 |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,321 | 1,321 |
Capital surplus | 818 | 748 |
Retained earnings | 51,919 | 52,778 |
Treasury shares | (872) | (806) |
Total shareholders' equity | 53,186 | 54,041 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 9,920 | 9,448 |
Deferred gains or losses on hedges | 0 | 1 |
Foreign currency translation adjustment | 1,711 | 2,160 |
Total accumulated other comprehensive income | 11,632 | 11,610 |
Share acquisition rights | 369 | 250 |
Non-controlling interests | 14 | 15 |
Total net assets | 65,202 | 65,917 |
Total liabilities and net assets | 172,870 | 176,589 |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
June 30, 2023 | June 30, 2024 | |
Net sales | 66,769 | 68,570 |
Cost of sales | 61,761 | 63,543 |
Gross profit | 5,007 | 5,026 |
Selling, general and administrative expenses | 3,659 | 3,832 |
Operating profit | 1,348 | 1,194 |
Non-operating income | ||
Interest income | 1 | 6 |
Dividend income | 307 | 338 |
Rental income | 31 | 27 |
Purchase discounts | 10 | 9 |
Share of profit of entities accounted for using equity method | 10 | 21 |
Foreign exchange gains | - | 44 |
Other | 20 | 20 |
Total non-operating income | 382 | 467 |
Non-operating expenses | ||
Interest expenses | 66 | 69 |
Loss on sale of trade receivables | 6 | 1 |
Rental expenses | 12 | 22 |
Foreign exchange losses | 1 | - |
Other | 15 | 17 |
Total non-operating expenses | 102 | 110 |
Ordinary profit | 1,628 | 1,551 |
Extraordinary income | ||
Gain on sale of non-current assets | 2 | 477 |
Gain on sale of investment securities | 17 | 333 |
Total extraordinary income | 19 | 810 |
Extraordinary losses | ||
Loss on sale and retirement of non-current assets | 0 | 4 |
Loss on sale of investment securities | 3 | 6 |
Provision of allowance for investment loss | 15 | - |
Total extraordinary losses | 19 | 11 |
Profit before income taxes | 1,627 | 2,350 |
Income taxes - current | 643 | 874 |
Income taxes - deferred | (183) | (218) |
Total income taxes | 459 | 656 |
Profit | 1,168 | 1,694 |
Profit attributable to non-controlling interests | 0 | 0 |
Profit attributable to owners of parent | 1,167 | 1,693 |
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Consolidated statements of comprehensive income (cumulative)
(Millions of yen) | ||
Three months ended | Three months ended | |
June 30, 2023 | June 30, 2024 | |
Profit | 1,168 | 1,694 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,553 | (471) |
Deferred gains or losses on hedges | 12 | 1 |
Foreign currency translation adjustment | 362 | 438 |
Share of other comprehensive income of entities accounted | 5 | 9 |
for using equity method | ||
Total other comprehensive income | 1,934 | (21) |
Comprehensive income | 3,102 | 1,673 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 3,101 | 1,671 |
Comprehensive income attributable to non-controlling | 1 | 1 |
interests | ||
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