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 Six Months Ended September 30, 2024 (Based on Japanese GAAP)
Company name: | TAKEBISHI CORPORATION | ||
Stock exchange listing: | Tokyo | ||
Stock code: | 7510 | URL: https://www.takebishi.co.jp | |
Representative: | Representative Director & President | Hiroshi Okagaki | |
Inquiries: | Director & Managing Executive Officer | Takeshi Ohi | |
Business Strategy Office | |||
Scheduled date to file Semi-annual Securities Report: | November 8, 2024 | ||
Scheduled date to commence dividend payments: | December 9, 2024 | ||
Preparation of supplementary material on financial results: | No | ||
Holding of financial results meeting: | Yes |
October 31, 2024
Phone: +81-75-325-2118
(Amounts less than one million yen are rounded down) | |||||||||||||||||||||
1. Consolidated financial results for the six months ended September 30, 2024 (from April 1, 2024 to September 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 | % | ||||||||||||||
Six months ended | 47,598 | (5.4) | 1,425 | (27.6) | 1,575 | (27.8) | 1,376 | (2.8) | |||||||||||||
September 30, 2024 | |||||||||||||||||||||
Six months ended | 50,338 | 8.0 | 1,969 | 4.3 | 2,180 | 8.7 | 1,416 | 5.7 | |||||||||||||
September 30, 2023 | |||||||||||||||||||||
(Note) Comprehensive income: Six months ended September 30, 2024: ¥1,600 million [(39.3)%] | |||||||||||||||||||||
Six months ended September 30, 2023: ¥2,634 million [21.6%] | |||||||||||||||||||||
Earnings per share | Diluted earnings per share | ||||||||||||||||||||
Yen | Yen | ||||||||||||||||||||
Six months ended September 30, 2024 | 86.10 | － | |||||||||||||||||||
Six months ended September 30, 2023 | 88.73 | － | |||||||||||||||||||
(2) Consolidated financial position | |||||||||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||||||||
Millions of yen | Millions of yen | % | |||||||||||||||||||
As of September 30, 2024 | 61,940 | 40,199 | 64.9 | ||||||||||||||||||
As of March 31, 2024 | 65,132 | 39,081 | 60.0 | ||||||||||||||||||
(Reference) Equity: As of September 30, 2024: ¥40,177 million | |||||||||||||||||||||
As of March 31, 2024: ¥39,064 million | |||||||||||||||||||||
2. Cash dividends | |||||||||||||||||||||
Annual dividends per share | |||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |||||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||||
Year ended March 31, 2024 | － | 29.00 | － | 33.00 | 62.00 | ||||||||||||||||
Year ending March 31, 2025 | － | 29.00 | |||||||||||||||||||
Year ending March 31, 2025 (Forecast) | － | 33.00 | 62.00 | ||||||||||||||||||
(Notes) Revision from the most recently announced dividend forecast: No | |||||||||||||||||||||
- 1 - |
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 | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Full year | 101,500 | 0.1 | 3,370 | (9.8) | 3,550 | (9.3) | 2,510 | 0.3 | 156.87 |
(Note) Revision from the most recently announced financial results forecast: No
4. Notes
- Changes in significant subsidiaries during the six months ended September 30, 2024 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing interim consolidated financial statements:
No
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: | Yes |
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 September 30, 2024 | 16,006,200 | shares | As of March 31, 2024 | 15,986,000 | shares |
Number of treasury shares at the end of the period | |||||
As of September 30, 2024 | 1,010 | shares | As of March 31, 2024 | 1,010 | shares |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | |||||
Six months ended September 30, 2024 | 15,993,647 | shares | Six months ended September 30, 2023 | 15,967,194 | shares |
- 2 -
Interim consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||||||
As of March 31, 2024 | As of September 30, 2024 | ||||||
Assets | |||||||
Current assets | |||||||
Cash and deposits | 8,227 | 7,766 | |||||
Notes and accounts receivable - trade, and contract | 24,898 | 23,541 | |||||
assets | |||||||
Electronically recorded monetary claims - | 4,797 | 5,162 | |||||
operating | |||||||
Merchandise | 11,517 | 11,191 | |||||
Work in process | 62 | 80 | |||||
Other | 1,697 | 1,333 | |||||
Allowance for doubtful accounts | 172 | 177 | |||||
51,029 | 48,897 | ||||||
Total current assets | △ | △ | |||||
Non-current assets | |||||||
Property, plant and equipment | |||||||
Buildings and structures, net | 1,883 | 1,933 | |||||
Land | 2,105 | 2,105 | |||||
Construction in progress | 11 | 1 | |||||
Other, net | 233 | 209 | |||||
Total property, plant and equipment | 4,234 | 4,250 | |||||
Intangible assets | |||||||
Software | 64 | 59 | |||||
Software in progress | － | 86 | |||||
Goodwill | 744 | 1,000 | |||||
Customer related assets | 760 | 672 | |||||
Other | 20 | 20 | |||||
Total intangible assets | 1,589 | 1,839 | |||||
Investments and other assets | |||||||
Investment securities | 7,156 | 5,809 | |||||
Deferred tax assets | 201 | 194 | |||||
Other | 939 | 964 | |||||
Allowance for doubtful accounts | △ | 16 | △ | 15 | |||
Total investments and other assets | 8,279 | 6,952 | |||||
Total non-current assets | 14,102 | 13,042 | |||||
Total assets | 65,132 | 61,940 |
- 3 -
(Millions of yen) | ||||||
As of March 31, 2024 | As of September 30, 2024 | |||||
Liabilities | ||||||
Current liabilities | ||||||
Notes and accounts payable - trade | 15,870 | 13,344 | ||||
Electronically recorded obligations - operating | 2,290 | 1,414 | ||||
Short-term borrowings | 1,631 | 1,619 | ||||
Current portion of long-term borrowings | 100 | － | ||||
Accounts payable - other | 1,317 | 1,139 | ||||
Income taxes payable | 963 | 932 | ||||
Provision for bonuses | 829 | 770 | ||||
Provision for bonuses for directors (and other | － | 107 | ||||
officers) | ||||||
Other | 1,316 | 978 | ||||
Total current liabilities | 24,319 | 20,307 | ||||
Non-current liabilities | ||||||
Long-term borrowings | － | 100 | ||||
Long-term accounts payable - other | 49 | 27 | ||||
Deferred tax liabilities | 1,411 | 1,052 | ||||
Deferred tax liabilities for land revaluation | 5 | 5 | ||||
Provision for retirement benefits for directors (and | 37 | 37 | ||||
other officers) | ||||||
Retirement benefit liability | 66 | 73 | ||||
Asset retirement obligations | 27 | 26 | ||||
Other | 132 | 110 | ||||
Total non-current liabilities | 1,730 | 1,433 | ||||
Total liabilities | 26,050 | 21,740 | ||||
Net assets | ||||||
Shareholders' equity | ||||||
Share capital | 3,406 | 3,428 | ||||
Capital surplus | 4,080 | 4,102 | ||||
Retained earnings | 27,201 | 28,050 | ||||
Treasury shares | △ | 0 | △ | 0 | ||
Total shareholders' equity | 34,687 | 35,581 | ||||
Accumulated other comprehensive income | ||||||
Valuation difference on available-for-sale | 3,590 | 2,704 | ||||
securities | ||||||
Revaluation reserve for land | 1,140 | 1,140 | ||||
Foreign currency translation adjustment | △1,726 | △2,847 | ||||
Remeasurements of defined benefit plans | 199 | 184 | ||||
Total accumulated other comprehensive income | 4,376 | 4,595 | ||||
Non-controlling interests | 17 | 21 | ||||
Total net assets | 39,081 | 40,199 | ||||
Total liabilities and net assets | 65,132 | 61,940 |
- 4 -
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Six months ended | Six months ended | ||
September 30, 2023 | September 30, 2024 | ||
Net sales | 50,338 | 47,598 | |
Cost of sales | 43,248 | 40,793 | |
Gross profit | 7,090 | 6,805 | |
Selling, general and administrative expenses | 5,120 | 5,379 | |
Operating profit | 1,969 | 1,425 | |
Non-operating income | |||
Interest income | 4 | 15 | |
Dividend income | 78 | 83 | |
Purchase discounts | 7 | 7 | |
Rental income | 26 | 27 | |
Surrender value of insurance policies | 88 | － | |
Other | 69 | 74 | |
Total non-operating income | 275 | 208 | |
Non-operating expenses | |||
Interest expenses | 46 | 7 | |
Rental costs | 13 | 12 | |
Foreign exchange losses | － | 37 | |
Other | 4 | 1 | |
Total non-operating expenses | 64 | 59 | |
Ordinary profit | 2,180 | 1,575 | |
Extraordinary income | |||
Gain on sale of non-current assets | 8 | 0 | |
Gain on sale of investment securities | － | 592 | |
Total extraordinary income | 8 | 592 | |
Extraordinary losses | |||
Loss on sale and retirement of non-current assets | 15 | 0 | |
Impairment losses | 21 | － | |
Total extraordinary losses | 36 | 0 | |
Profit before income taxes | 2,152 | 2,167 | |
Income taxes - current | 723 | 759 | |
Income taxes - deferred | 9 | 27 | |
Total income taxes | 732 | 786 | |
Profit | 1,420 | 1,380 | |
Profit attributable to non-controlling interests | 3 | 3 | |
Profit attributable to owners of parent | 1,416 | 1,376 |
- 5 -
Consolidated statements of comprehensive income (cumulative)
(Millions of yen) | ||||||
Six months ended | Six months ended | |||||
September 30, 2023 | September 30, 2024 | |||||
Profit | 1,420 | 1,380 | ||||
Other comprehensive income | ||||||
Valuation difference on available-for-sale securities | 533 | 885 | ||||
Foreign currency translation adjustment | 1,120 | |||||
687 | △ | |||||
Remeasurements of defined benefit plans, net of tax | △ | 6 | △ | 15 | ||
Total other comprehensive income | 1,214 | 219 | ||||
Comprehensive income | 2,634 | 1,600 | ||||
Comprehensive income attributable to | ||||||
Comprehensive income attributable to owners of | 2,631 | 1,600 | ||||
parent | ||||||
Comprehensive income attributable to non-controlling | 2 | △0 | ||||
interests |
- 6 -