FOR TRANSLATION PURPOSE ONLY
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.
February 8, 2022
Summary of Consolidated Financial Results
for theThird Quarter of the FiscalYear Ending March 31, 2022
(Based on Japanese GAAP)
Company name: | TAKAMIYA CO., LTD. | |
Stock exchange listing: | Tokyo (1st section) | |
Stock code: | 2445 | URL: https://www.takamiya.co/en/ |
Representative: | Representative Director, President and Chairman KAZUMASATAKAMIYA |
Scheduled quarterly report submission date: | February 9, 2022 |
Preparation of supplementary material on financial results: | Yes |
Holding of financial results meeting: | None |
(Amounts less than one million yen are rounded down) |
1. Consolidated Financial Results for the Third Quarter of the FiscalYear Ending March 31, 2022 (April 1, 2021 to December 31,2021)
(1) Consolidated operating results | Percentages indicate year-on-year changes | ||||||||||||||||||||||||||||
Net sales | Operating income | Ordinary income | Profit attributable to | ||||||||||||||||||||||||||
owners of parent | |||||||||||||||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||||||||||||||||
Third quarter of the fiscal year | 29,824 | 3.7 | 986 | (37.3) | 1,113 | (21.9) | 357 | (58.3) | |||||||||||||||||||||
ending March 31, 2022 | |||||||||||||||||||||||||||||
Third quarter of the fiscal year | 28,757 | (16.1) | 1,573 | (43.3) | 1,425 | (45.5) | 856 | (51.1) | |||||||||||||||||||||
ended March 31, 2021 | |||||||||||||||||||||||||||||
(Note) Comprehensive income | Third Quarter of FiscalYear Ending March 31, 2022: 542 million yen (45.9%) | ||||||||||||||||||||||||||||
Third Quarter of FiscalYear Ending March 31, 2021: 1,004 million yen (41.6%) | |||||||||||||||||||||||||||||
Quarterly Earnings per | Diluted earnings per | ||||||||||||||||||||||||||||
share | share | ||||||||||||||||||||||||||||
Yen | Yen | ||||||||||||||||||||||||||||
Third quarter of the fiscal year | 7.67 | 7.43 | |||||||||||||||||||||||||||
ending March 31, 2022 | |||||||||||||||||||||||||||||
Third quarter of the fiscal year | 18.39 | 17.87 | |||||||||||||||||||||||||||
ended March 31, 2021 | |||||||||||||||||||||||||||||
(2) Consolidated financial position | |||||||||||||||||||||||||||||
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||||||||||||||||||||||||||
Million yen | Million yen | % | Yen | ||||||||||||||||||||||||||
Third quarter of the fiscal year | 57,126 | 18,690 | 31.7 | 389.35 | |||||||||||||||||||||||||
ending March 31, 2022 | |||||||||||||||||||||||||||||
Fiscal year ended March 31, | 56,454 | 18,768 | 32.3 | 391.96 | |||||||||||||||||||||||||
2021 | |||||||||||||||||||||||||||||
(Reference) Shareholders' equity | Third Quarter of FiscalYear Ending March 31, 2022: 18,135 million yen | ||||||||||||||||||||||||||||
Fiscal year ended March 31, 2021: 18,253 million yen | |||||||||||||||||||||||||||||
2. Cash dividends | |||||||||||||||||||||||||||||
Annual dividends per share | |||||||||||||||||||||||||||||
End of the first | End of the second | End of the third | End of term | Total | |||||||||||||||||||||||||
quarter | quarter | quarter | |||||||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||||||||||||
Fiscal year ended March 31, | - | 6.00 | - | 8.00 | 14.00 | ||||||||||||||||||||||||
2021 | |||||||||||||||||||||||||||||
Fiscal year ending March 31, | - | 6.00 | |||||||||||||||||||||||||||
2022 | |||||||||||||||||||||||||||||
Fiscal year ending March 31, | - | 8.00 | 14.00 | ||||||||||||||||||||||||||
2022(Forecast) | |||||||||||||||||||||||||||||
3. Consolidated Financial Forecast for the FiscalYear Ending March 31, 2022 (April 1, 2021 to March 31, 2022) | |||||||||||||||||||||||||||||
Percentages indicate year-on-year changes | |||||||||||||||||||||||||||||
Profit attributable | Earnings | ||||||||||||||||||||||||||||
Net sales | Operating income | Ordinary income | to owners of | ||||||||||||||||||||||||||
per share | |||||||||||||||||||||||||||||
parent | |||||||||||||||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |||||||||||||||||||||
Full year | 42,300 | 9.0 | 2,150 | 35.5 | 2,170 | 38.3 | 1,140 | 32.9 | 24.28 | ||||||||||||||||||||
(Note) Revisions to the most recently announced earnings forecast: None |
FOR TRANSLATION PURPOSE ONLY (Note)
- Changes in significant subsidiaries during the current quarter consolidated cumulative period (Changes in specified subsidiaries resulting in changes in the scope of consolidation): None
- Application of special accounting methods for the preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatements
- Changes in accounting policies due to revision of accounting standards, etc. :Yes
② Changes in accounting policies other than ① above | : None |
③ Changes in accounting estimates | : None |
④ Restatement | : None |
(Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Main Notes (3) Notes to Quarterly Consolidated Financial Statements (Changes in Accounting Policies)" on page 8 of the attached materials.
(4) Number of shares issued (common stock)
- Total number of issued shares at the end of the period (including treasury shares)
As of December 31,2021 | 46,585,600 shares | As of March 31,2021 | 46,577,000 shares | |
② | Number of treasury shares at the end of the period | |||
As of December 31,2021 | 7,020 shares | As of March 31,2021 | 7,020 shares | |
③ | Average number of shares during the period | |||
As of December 31,2021 | 46,575,921 shares | As of December 31,2020 | 46,569,980 shares |
* The quarterly financial statements are not subject to audit by certified public accountants or auditing firms.
*Explanation of the appropriate use of financial forecasts and other special notes (Cautionary Note Regarding Forward-Looking Statements, etc.)
The forward-looking statements, including business forecasts, contained in this document are based on information currently available to the Company and on certain assumptions deemed reasonable, and are not intended as a promise by the Company that they will be achieved. Actual results may differ materially due to a variety of factors. Please refer to "1. Qualitative information on quarterly results, (3) Explanation of consolidated financial forecasts and other forward-looking statements" on page 3 of the attached materials for the conditions that form the assumptions for the forecast of financial results and cautions concerning the use of the forecast of financial results.
(How to obtain supplementary explanatory materials for financial results)
Supplementary materials for financial results are scheduled to be posted on the Company's website.
(Change in the unit of presentation of amounts)
The amounts of items and other matters presented in the Company's quarterly consolidated financial statements used to be stated in thousand yen, but from the first quarter of the current fiscal year and the first quarter of the current fiscal year, they are stated in million yen.
For ease of comparison, the figures for the previous consolidated fiscal year and theThird quarter of the previous consolidated fiscal year have also been reclassified into million yen.
2
FOR TRANSLATION PURPOSE ONLY | |
Table of contents of attached documents | |
1. Qualitative information on quarterly results ..................................................................................................................................... | 2 |
(1) Explanation of business results ............................................................................................................................................. | 2 |
(2) Explanation of financial position …………………………………………………………………………………...…………………. | 3 |
(3) Explanation of consolidated financial forecasts and other forward-looking statements ……………………………………….. | 3 |
2. Quarterly consolidated financial statements and major notes ........................................................................................................ | 4 |
(1) Quarterly consolidated balance sheets ................................................................................................................................. | 4 |
(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income ……………………. | 6 |
Quarterly consolidated statements of income …. | |
For theThird quarter consolidated cumulative period........................... .............................. ................................. | 6 |
Quarterly consolidated Statements of comprehensive income | |
For theThird quarter consolidated cumulative period........................... .............................. ................................ | 7 |
(3) Notes to quarterly consolidated financial statements ........................ .............................. .............................. ........ | 8 |
(Notes on going concern assumption) ........................ .............................. .............................. ............................ | 8 |
(Note in the event of a significant change in the amount of shareholders' equity) .............................. ................. | 8 |
(Changes in accounting policies) ........................... .............................. .............................. ................................ | 8 |
(Segment information) …………….......................... .............................. .............................. ................................ | 9 |
1
FOR TRANSLATION PURPOSE ONLY
1. Qualitative information on quarterly results
- Explanation of business results for the current fiscal year
During theThird quarter of the current fiscal year, the global economy is picking up due to the spread of vaccination against COVID- 19. However, the outlook remains uncertain due to the expansion of new mutant strains.
The domestic construction industry, in which our group is involved, began in a difficult situation at some sites of private construction work, such as interruptions and delays in construction work, and postponement of construction work. However, there was a tendency for recovery mainly in the maintenance and repair work in the metropolitan area. Overseas, in the Philippines, where our sales subsidiary is located, business activities are restricted by the government's restrictions on going out and moving. In Vietnam, where the manufacturing subsidiary is located, the situation is still severe, with temporary restrictions being imposed as in the Philippines. In this environment, the Group has set up a management vision of " Create new value through transformation and aim for sustainable growth by becoming a partner to our customers." in the mid-term management plan announced on May 31, 2021. and we will work on the following four measures: Develop services that blend hardware and software, with a focus on the Iq System, Strengthen products for maintenance/repairs and infrastructure redevelopment, Nurture businesses beyond the temporary equipment sector, and Redevelop overseas business bases. In particular, during the Third quarter of the current fiscal year, we will promote capital investment and human investment for the purpose of maximization and optimization, centering on investment in "Takamiya Lab.West", with the aim of building a new platform business.
As a result, for theThird quarter of the current fiscal year, the Company posted net sales of 29,824 million yen (up 3.7% year-on-year), operating income of 986 million yen (down 37.3% year-on-year), ordinary income of 1,113 million yen (down 21.9% year-on-year), and net income attributable to shareholders of the parent company amounted to 357 million yen (down 58.3% year on year).
Operating results by segment are as follows.
(Sales business)
In the temporary construction segment, Interest in the "Iq system" is still high, and inquiries for both new and continuing projects have been firm. In addition, due to the recent rise in steel prices, there was a last-minute demand before the price revision, but the increase in sales was limited because the production volume temporarily decreased due to the measures to restrict going out and moving in Vietnam. In areas other than the temporary construction department, sales related to agriculture increased due to the construction of high-performance glass houses for agriculture.
As a result, net sales were 10,054 million yen (up 25.7% year-on-year) and operating income was 1,057 million yen (up 26.0% year- on-year).
(Rental Business)
In the private sector, severe conditions continued, such as interruptions and delays in construction work, and postponement of construction work. However, the utilization rate of the "Iq system" remained high, mainly for maintenance and repair work in theTokyo metropolitan area. On the other hand, in the construction and civil engineering fields, the lending of rental assets to large-scale sites as in the previous consolidated fiscal year decreased, and the utilization rate of rental assets decreased. In terms of profits, the segment profit margin declined due to an increase in the fixed cost ratio such as depreciation expenses due to the decline in the utilization rate of rental assets.
As a result, net sales were 17,327 million yen (down 6.7% year on year), and operating income was 818 million yen (down 55.3% year on year).
(Overseas Business)
DIMENTION-ALL Inc. (Philippines), a sales subsidiary, continued to face a harsh condition due to the continued restriction of business activities caused by the measures to restrict people from going out and moving around in Metro Manila. We are working to reduce SG & A expenses and improve profitability. In addition, at our manufacturing subsidiary, Holly Vietnam (Vietnam), there was no significant impact on the procurement of raw materials and parts, and sales were favorable. However, due to temporary outing and movement restrictions, business activities were restricted, and the production volume of products for the domestic market temporarily declined.
As a result, net sales were 4,743 million yen (up 22.6% year on year), and operating income was 214 million yen (Operating loss of 43 million yen in the same quarter of the previous year).
2
FOR TRANSLATION PURPOSE ONLY
(2) Explanation of financial position for the current fiscal year
Total assets at the end of theThird quarter of the current fiscal year were 57,126 million yen, an increase of 671 million yen compared to the end of the previous fiscal year.This was mainly due to a decrease in assets for rent, net of 860 million yen, an increase of 1,495 million yen in buildings and structures (net).
Total liabilities amounted to 38,435 million yen, an increase of 749 million yen from the end of the previous consolidated fiscal year. This was mainly due to an increase of 728 million yen in notes and accounts payable - trade, an increase in short-term loans payable of 426 million yen, a decrease in bonds payable (including Current portion of bonds) of 185 million yen, a decrease in long-term debt (including Current portion of long term loans payable) of 242 million yen.
Total net assets amounted to 18,690 million yen, a decrease of 78 million yen from the end of the previous fiscal year.This was mainly due to a decrease of 295 million yen in retained earnings resulting from 357 million yen in net income attributable to owners of the parent and 652 million yen in dividends from surplus, and an increase of 171 million yen in foreign currency translation adjustments.
(3) Explanation of consolidated financial forecasts and other forward-looking statements
Regarding the consolidated earnings forecast, there is no change to the full-year consolidated earnings forecast announced in the "Notice of Revision of Earnings Forecast" on October 29, 2021.
3
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