SMS : FY03-25 SMS Financial Statements

Current assets

Cash and deposits

18,236

16,175

Accounts receivable - trade

8,228

8,887

Work in process

13

89

Supplies

25

28

Accounts receivable - other

10,406

12,516

Prepaid expenses

1,038

1,285

Other

94

46

Allowance for doubtful accounts

(267)

(366)

Total current assets

37,775

38,664

Non-current assets

Property, plant and equipment

Buildings

1,131

1,295

Accumulated depreciation

(509)

(641)

Buildings, net

621

654

Tools, furniture and fixtures

1,097

1,193

Accumulated depreciation

(877)

(978)

Tools, furniture and fixtures, net

220

215

Machinery, equipment and vehicles

20

13

Accumulated depreciation

(15)

(12)

Machinery, equipment and vehicles, net

4

0

Right-of-use assets

657

872

Accumulated depreciation

(371)

(554)

Right-of-use assets, net

285

317

Total property, plant and equipment

1,132

1,187

Intangible assets

Goodwill

9,752

9,701

Software

5,454

7,028

Trademark rights

11,814

13,176

Customer-related assets

1,143

935

Other

0

0

Total intangible assets

28,165

30,841

Investments and other assets

Investment securities

*

2,652

*

2,875

Deferred tax assets

1,262

1,437

Lease and guarantee deposits

1,486

1,533

Total investments and other assets

5,402

5,846

Total non-current assets

34,699

37,876

Total assets

72,475

76,540

Accounts payable - trade

460

423

Short-term loans payable

-

3,500

Current portion of long-term loans payable

1,901

1,901

Accounts payable - other

12,730

11,875

Accrued expenses

1,059

861

Income taxes payable

1,344

1,295

Accrued consumption taxes

930

824

Contract liabilities

1,205

1,483

Deposits received

183

184

Provision for bonuses

909

1,042

Lease obligations

160

128

Other

439

469

Total current liabilities

21,325

23,990

Non-current liabilities

Long-term loans payable

4,251

2,350

Net defined benefit liability

203

236

Deferred tax liabilities

2,286

2,467

Lease obligations

121

174

Other

2

2

Total non-current liabilities

6,865

5,231

Total liabilities

28,190

29,221

Net assets

Shareholders' equity

Capital stock

2,551

2,551

Capital surplus

313

262

Retained earnings

39,111

43,430

Treasury shares

(1,904)

(5,713)

Total shareholders' equity

40,071

40,531

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

322

229

Foreign currency translation adjustments

3,607

6,328

Total accumulated other comprehensive income

3,930

6,558

Subscription rights to shares

282

229

Total net assets

44,284

47,319

Total liabilities and net assets

72,475

76,540

Consolidated Statements of Income

SMS CO., LTD. and Its Consolidated Subsidiaries

Fiscal years ended March 31, 2024 and 2025

(Millions of yen)

Fiscal year ended March 31, 2024

Fiscal year ended March 31, 2025

Net sales

*1 53,973

*1 60,952

Cost of sales

6,430

7,098

Gross profit

47,543

53,854

Selling, general and administrative expenses

*2 39,273

*2 47,518

Operating income

8,269

6,335

Non-operating income

Interest income

38

57

Share of profit of entities accounted for using equity method

1,683

2,027

Other

56

63

Total non-operating income

1,778

2,148

Non-operating expenses

Foreign exchange losses

66

15

Interest expenses

66

101

Other

13

11

Total non-operating expenses

146

127

Ordinary income

9,901

8,357

Extraordinary income

Gain on sale of non-current assets

2

2

Total extraordinary income

2

2

Extraordinary losses

Loss on sale and retirement of non-current assets

*3

161

*3

35

Loss on withdrawal from business

-

*4

92

Total extraordinary losses

161

128

Profit before income taxes

9,742

8,231

Income taxes - current

2,687

2,328

Income taxes - deferred

(172)

(150)

Total income taxes

2,514

2,177

Profit

7,227

6,054

Loss attributable to non-controlling interests

-

(0)

Profit attributable to owners of parent

7,227

6,054

Total other comprehensive income

* 1,617 * 2,628

Comprehensive income

8,845 8,682

Comprehensive income attributable to:

Owners of parent

8,845 8,682

Non-controlling interests

- (0)