Shinmaywa Industries,ltd.TSE: 7224

Announcement of "Consolidated Financial Results for the Three Months Ended June 30, 2022"

Jul 29, 2022 at 7:14 AM UTC · Issued by Shinmaywa Industries,ltd.

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Three Months Ended June 30, 2022

[Japanese GAAP]

July 29, 2022

Company name: ShinMaywa Industries, Ltd.

Stock exchange listing: Tokyo

Code number: 7224

URL: https://www.shinmaywa.co.jp/

Representative: Tatsuyuki Isogawa ,President and Chief Executive Officer

Contact: Toshiki Kume ,Director, Member of the Board, Managing Executive Officer

Phone: 0798-56-5010

Scheduled date of filing quarterly securities report: August 10, 2022

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: No

Schedule of quarterly financial results briefing session: No

(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 01, 2022 to June 30, 2022)

(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
	Net sales	Operating profit	Ordinary profit	Profit attributable to
		owners of parent

Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
June 30, 2022	47,262	1.7	792	(43.4)	1,450	(6.1)	512	(41.3)
June 30, 2021	46,487	3.8	1,400	5.9	1,544	1.6	873	47.5

(Note) Comprehensive income:	Three months ended June 30, 2022:
	Three months ended June 30, 2021:

¥	2,033 million	[	80.8%]
¥	1,125 million	[	2.4%]

	Basic earnings	Diluted earnings per
	per share		share
Three months ended	Yen			Yen
June 30, 2022	7.78			-
June 30, 2021	13.28			-
(2) Consolidated Financial Position
	Total assets		Net assets	Capital adequacy ratio

As of	Million yen			Million yen	%
June 30, 2022	215,735			94,005	42.9
March 31, 2022	221,206			94,261	41.8
(Reference) Equity: As of	June 30, 2022:	¥	92,652 million
As of	March 31, 2022:	¥	92,465 million

2. Dividends

					Annual dividends

		1st	2nd	3rd		Year-end	Total
	quarter-end	quarter-end	quarter-end

		Yen		Yen	Yen		Yen	Yen
Fiscal year ended March 31, 2022		-		19.00	-		23.00	42.00
Fiscal year ending March 31, 2023		-

Fiscal year ending March 31, 2023				21.00	-		21.00	42.00
(Forecast)

(Note) Revision to the forecast for dividends	announced most	recently:	No
(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2023 :
Commemorative dividend	-	yen
Special dividend	-	yen

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 01, 2022 to March 31, 2023)

(% indicates changes from the previous corresponding period.)

			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			225,000		3.8	9,000	(14.9)	9,200	(22.2)	6,000	(13.1)	91.14
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):	No
New	-	(Company name:								)
Exclusion:	-	(Company name:								)
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:	No

Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to the revision of accounting standards: No
2. Changes in accounting policies other than 1) above: No
3. Changes in accounting estimates: No
4. Retrospective restatement: No
Total number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares):

June 30, 2022:	70,000,000	shares
March 31, 2022:	70,000,000	shares
2) Total number of treasury shares at the end of the period:
June 30, 2022:	4,166,473	shares
March 31, 2022:	4,166,255	shares

3) Average number of shares during the period:
Three months ended June 30, 2022:	65,833,624	shares
Three months ended June 30, 2021:	65,744,235	shares

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

				(Million yen)
			As of March 31,2022	As of June 30,2022

Assets
	Current assets
		Cash and deposits	26,600	18,912
		Notes and accounts receivable - trade, and contract	62,114	54,914
		assets

		Electronically recorded monetary claims -	8,831	13,269
		operating

		Merchandise and finished goods	4,067	4,475
		Work in process	21,619	23,442
		Raw materials and supplies	21,238	22,760
		Other	4,266	5,946
		Allowance for doubtful accounts	(121)	(142)
		Total current assets	148,615	143,581
	Non-current assets
		Property, plant and equipment
		Buildings and structures, net	19,185	18,991
		Other, net	23,244	23,427
		Total property, plant and equipment	42,430	42,418
		Intangible assets	2,876	2,799
		Investments and other assets
		Other	27,310	26,961
		Allowance for doubtful accounts	(26)	(25)
		Total investments and other assets	27,284	26,935
		Total non-current assets	72,590	72,154
	Total assets	221,206	215,735

				(Million yen)
			As of March 31,2022	As of June 30,2022

Liabilities
	Current liabilities
		Notes and accounts payable - trade	25,898	24,492
		Current portion of bonds payable	800	800
		Short-term borrowings	2,891	2,855
		Current portion of long-term borrowings	2,443	2,453
		Income taxes payable	2,527	473
		Provision for loss on construction contracts	3,194	3,106
		Other	28,147	27,790
		Total current liabilities	65,903	61,972
	Non-current liabilities
		Bonds payable	1,600	1,400
		Long-term borrowings	44,519	43,640
		Retirement benefit liability	12,962	12,805
		Other	1,959	1,910
		Total non-current liabilities	61,041	59,757
	Total liabilities	126,945	121,729
Net assets
	Shareholders' equity
		Share capital	15,981	15,981
		Capital surplus	15,737	15,657
		Retained earnings	65,852	64,850
		Treasury shares	(5,954)	(5,954)
		Total shareholders' equity	91,617	90,535
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	1,096	1,006
		securities

		Revaluation reserve for land	(376)	(376)
		Foreign currency translation adjustment	821	1,623
		Remeasurements of defined benefit plans	(694)	(137)
		Total accumulated other comprehensive income	847	2,116
	Non-controlling interests	1,795	1,353
	Total net assets	94,261	94,005
Total liabilities and net assets	221,206	215,735

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the three months)

			(Million yen)
		For the three months	For the three months
		ended June 30,2021	ended June 30,2022

Net sales	46,487	47,262
Cost of sales	39,554	40,318
Gross profit	6,932	6,944
Selling, general and administrative expenses	5,532	6,151
Operating profit	1,400	792
Non-operating income
	Interest income	14	16
	Dividend income	102	102
	Share of profit of entities accounted for using equity	4	-
	method

	Foreign exchange gains	48	690
	Other	52	48
	Total non-operating income	221	857
Non-operating expenses
	Interest expenses	47	56
	Share of loss of entities accounted for using equity	-	84
	method

	Cost of inactive noncurrent assets	8	11
	Borrowing fees	4	3
	Loss on securitization of receivables	2	7
	Other	14	35
	Total non-operating expenses	77	199
Ordinary profit	1,544	1,450
Extraordinary income
	Gain on sale of investment securities	-	31
	Total extraordinary income	-	31
Extraordinary losses
	Loss on disposal of non-current assets	103	9
	Total extraordinary losses	103	9
Profit before income taxes	1,441	1,472
Income taxes - current	329	353
Income taxes - deferred	187	438
Total income taxes	516	792
Profit	924	680
Profit attributable to non-controlling interests	51	168
Profit attributable to owners of parent	873	512

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