DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
May 13, 2025
Company name: TEIKOKU SEN-I CO.,Ltd. Listing: Tokyo Stock Exchange
Securities code: 3302
URL: https://www.teisen.co.jp/ Representative: Tsuyoshi Shiraiwa, Chairman & CEO Inquiries: Tatsuru Okamura, Vice President
Telephone: +81-3-3281-3022
Scheduled date to commence dividend payments: -
Preparation of supplementary material on financial results: None
Holding of financial results briefing: None
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the three months ended March 31, 2025 (from January 1, 2025 to March 31, 2025)
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Three months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2025
15,317
12.5
2,881
44.3
3,424
37.3
2,415
37.4
March 31, 2024
13,621
13.4
1,995
(0.8)
2,494
2.9
1,757
4.1
Note: Comprehensive income For the three months ended March 31, 2025:
¥2,678 million
[(25.8)%]
For the three months ended March 31, 2024:
¥3,610 million
[48.2%]
Basic earnings per share
Diluted earnings per share
Three months ended
Yen
Yen
March 31, 2025
93.02
92.46
March 31, 2024
67.37
66.73
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2025
84,284
66,709
79.0
2,588.51
December 31, 2024
82,850
66,536
80.0
2,534.19
Reference: Equity
As of March 31, 2025: ¥66,551 million
As of December 31, 2024: ¥66,269 million
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended
December 31, 2024
-
0.00
-
50.00
50.00
Fiscal year ending December 31, 2025
-
Fiscal year ending December 31, 2025 (Forecast)
0.00
55.00
55.00
Note: Revisions to the forecast of cash dividends most recently announced: None
- Forecast of consolidated financial results for the fiscal year ending December 31, 2025 (from January 1, 2025 to December 31, 2025)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Fiscal year ending December 31, 2025 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
36,500 | 15.9 | 4,800 | 38.7 | 6,000 | 31.8 | 4,200 | 29.1 | 160.61 | |
Note: Revisions to the earnings forecasts most recently announced: None
* NotesSignificant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement: None
Note: For details, please refer to "(3) Notes to quarterly consolidated financial statements (Changes in accounting policies)" of "2. Quarterly Consolidated Financial Statements and Significant Notes Thereto" on page 8 of the attached materials.
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2025
27,584,400 shares
As of December 31, 2024
27,524,400 shares
Number of treasury shares at the end of the period
As of March 31, 2025
1,874,209 shares
As of December 31, 2024
1,374,209 shares
Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2025 | 25,964,191 shares |
Three months ended March 31, 2024 | 26,089,208 shares |
The Company has introduced a performance-linked stock-based compensation plan, the Stock Benefit Trust (BBT), and includes the Company's remaining shares in the Stock Benefit Trust (BBT) in the number of treasury shares at the end of the fiscal year and the number of treasury shares to be deducted for the calculation of the average number of shares during the period.
Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:nothing
Proper use of earnings forecasts, and other special matters
(Cautions on forward-looking statements, etc.)
The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. For matters related to earnings forecasts, please refer to "1. Summary of Operating Results, etc. (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts."
Quarterly consolidated balance sheet(Thousands of yen)
As of December 31, 2024 | As of March 31, 2025 | |
Assets | ||
Current assets | ||
Cash and deposits | 12,693,887 | 10,612,248 |
Notes and accounts receivable - trade, and contract assets | 8,660,575 | 15,324,778 |
Securities | 5,999,384 | 5,997,499 |
Merchandise and finished goods | 7,864,569 | 4,771,619 |
Work in process | 1,199,072 | 1,123,439 |
Raw materials and supplies | 987,751 | 993,124 |
Other | 2,852,290 | 2,049,768 |
Total current assets | 40,257,532 | 40,872,478 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 6,921,745 | 6,878,665 |
Machinery, equipment and vehicles, net | 714,107 | 686,116 |
Tools, furniture and fixtures, net | 374,866 | 412,005 |
Land | 4,000,340 | 4,000,166 |
Construction in progress | 97,138 | 128,313 |
Total property, plant and equipment | 12,108,198 | 12,105,267 |
Intangible assets | 47,206 | 47,218 |
Investments and other assets | ||
Investment securities | 29,767,694 | 30,601,465 |
Retirement benefit asset | 116,575 | 107,287 |
Deferred tax assets | 154,570 | 159,953 |
Other | 398,562 | 390,527 |
Total investments and other assets | 30,437,403 | 31,259,235 |
Total non-current assets | 42,592,807 | 43,411,721 |
Total assets | 82,850,340 | 84,284,200 |
(Thousands of yen)
As of December 31, 2024 | As of March 31, 2025 | |
Liabilities | ||
Current liabilities | ||
Accounts payable - trade | 3,845,321 | 4,288,584 |
Current portion of long-term borrowings | 44,000 | 44,000 |
Income taxes payable | 857,851 | 1,003,692 |
Provision for bonuses | - | 166,151 |
Other | 1,960,770 | 2,066,765 |
Total current liabilities | 6,707,944 | 7,569,194 |
Non-current liabilities | ||
Long-term borrowings | 56,000 | 45,000 |
Long-term guarantee deposits | 409,403 | 394,220 |
Deferred tax liabilities | 8,077,357 | 8,517,597 |
Retirement benefit liability | 134,320 | 126,758 |
Provision for share awards for directors (and other officers) | 665,169 | 665,169 |
Asset retirement obligations | 76,477 | 76,479 |
Long-term accounts payable - other | 78,650 | 78,650 |
Other | 108,590 | 101,216 |
Total non-current liabilities | 9,605,969 | 10,005,091 |
Total liabilities | 16,313,913 | 17,574,285 |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,635,762 | 1,689,882 |
Capital surplus | 1,028,587 | 1,082,707 |
Retained earnings | 45,998,548 | 47,084,175 |
Treasury shares | (1,062,870) | (2,238,370) |
Total shareholders' equity | 47,600,028 | 47,618,394 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 18,597,568 | 18,929,400 |
Deferred gains or losses on hedges | 71,893 | 3,362 |
Total accumulated other comprehensive income | 18,669,461 | 18,932,763 |
Share acquisition rights | 266,936 | 158,756 |
Total net assets | 66,536,426 | 66,709,914 |
Total liabilities and net assets | 82,850,340 | 84,284,200 |
(Thousands of yen)
Three months ended March 31, 2024 | Three months ended March 31, 2025 | |
Net sales | 13,621,269 | 15,317,869 |
Cost of sales | 10,453,300 | 11,206,526 |
Gross profit | 3,167,969 | 4,111,342 |
Selling, general and administrative expenses | 1,171,984 | 1,230,267 |
Operating profit | 1,995,984 | 2,881,075 |
Non-operating income | ||
Interest income | 128 | 3,789 |
Dividend income | 493,279 | 537,953 |
Other | 9,352 | 5,742 |
Total non-operating income | 502,759 | 547,485 |
Non-operating expenses | ||
Interest expenses | 474 | 976 |
Share of loss of entities accounted for using equity method | 1,009 | 1,889 |
Foreign exchange losses | 3,160 | - |
Commission expenses | - | 1,351 |
Other | 15 | 240 |
Total non-operating expenses | 4,660 | 4,458 |
Ordinary profit | 2,494,083 | 3,424,102 |
Extraordinary losses | ||
Loss on disposal of non-current assets | 35 | - |
Loss on disposal of membership | - | 172 |
Total extraordinary losses | 35 | 172 |
Profit before income taxes | 2,494,048 | 3,423,930 |
Income taxes - current | 838,942 | 1,047,414 |
Income taxes - deferred | (102,624) | (38,726) |
Total income taxes | 736,318 | 1,008,688 |
Profit | 1,757,730 | 2,415,241 |
Profit attributable to owners of parent | 1,757,730 | 2,415,241 |
(Thousands of yen)
Three months ended March 31, 2024 | Three months ended March 31, 2025 | |
Profit | 1,757,730 | 2,415,241 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,747,027 | 331,832 |
Deferred gains or losses on hedges | 105,811 | (68,530) |
Total other comprehensive income | 1,852,839 | 263,301 |
Comprehensive income | 3,610,569 | 2,678,542 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 3,610,569 | 2,678,542 |
(Notes on segment information, etc.) Segment Information
the three months of the previous fiscal year (January 1, 2024 to March 31, 2024)
Information on sales and the amount of profit or loss for each reported segment, as well as revenue breakdown information
(Unit: 1 thousand yen)
Disaster Prevention and Preparedness
Textile
Real Estate
Other
Total
Adjustment amount (Note) 1
Quarterly Consolidated Statements of Income (Note)2
Sales
Government
5,007,814
1,428,815
-
-
6,436,629
-
6,436,629
Other
6,183,201
855,209
-
13,841
7,052,252
-
7,052,252
Revenue generated from customer contracts
11,191,016
2,284,024
-
13,841
13,488,882
-
13,488,882
Other Earnings
-
-
132,387
-
132,387
-
132,387
Revenues from external customers
11,191,016
2,284,024
132,387
13,841
13,621,269
-
13,621,269
Transactions with other segments
304
13,402
-
-
13,706
(13,706)
-
Total
11,191,320
2,297,426
132,387
13,841
13,634,975
(13,706)
13,621,269
Segment Profit
1,906,329
339,789
100,226
7,922
2,354,267
(358,283)
1,995,984
Note: 1. Segment profit adjustment of (358,283) thousand yen includes the elimination of inter-segment transactions of 926 thousand yen and the unallocated company-wide expenses of (359,209) thousand yen. Corporate expenses are primarily general and administrative expenses that are not attributable to the Reporting segment.
2. The sum of segment profit and adjustments are in line with operating income in the quarterly consolidated statements of income.
the three months of the current fiscal year (January 1, 2025 to March 31, 2025)
Information on sales and the amount of profit or loss for each reported segment, as well as information on the breakdown of revenues
(Unit: 1 thousand yen)
Disaster Prevention and Preparedness
Textile
Real Estate
Total
Adjustment amount (Note) 1
Quarterly Consolidated Statements of Income (Note)2
Sales
Government
6,012,169
1,638,754
-
7,650,923
-
7,650,923
Other
6,638,694
894,097
-
7,532,792
-
7,532,792
Revenue generated from customer contracts
12,650,864
2,532,852
-
15,183,716
-
15,183,716
Other Earnings
-
-
134,152
134,152
-
134,152
Revenues from external customers
12,650,864
2,532,852
134,152
15,317,869
-
15,317,869
Transactions with other segments
757
15,814
-
16,572
(16,572)
-
Total
12,651,621
2,548,667
134,152
15,334,441
(16,572)
15,317,869
Segment Profit
2,603,408
502,940
105,398
3,211,747
(330,671)
2,881,075
Note: 1. Segment profit adjustment of (330,671) thousand yen includes 101 thousand yen of inter-segment transactions eliminated and (330,773) thousand yen of company-wide expenses not allocated to each reporting segment. Corporate expenses are primarily general and administrative expenses that are not attributable to the Reporting segment.
The sum of segment profit and adjustments are in line with operating income in the quarterly consolidated statements of income.
2. Changes to Reporting Segments, etc.
As a result of the transfer of the insurance agency business that was included in the "Other" section in the previous fiscal year, the "Other" reporting segment was abolished from the first quarter of the current fiscal year.