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.
August 8, 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 file semi-annual securities report: August 12, 2025
Scheduled date to commence dividend payments: -
Preparation of supplementary material on financial results: None
Holding of financial results briefing: Yes (for institutional investors and analysts)
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the six months ended June 30, 2025 (from January 1, 2025 to June 30, 2025)
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Six months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
June 30, 2025
18,539
3.7
2,656
24.9
3,308
23.1
2,338
23.1
June 30, 2024
17,869
3.9
2,127
(5.8)
2,688
(1.4)
1,899
2.4
Note: Comprehensive income For the six months ended June 30, 2025:
¥3,008 million
[31.3%]
For the six months ended June 30, 2024:
¥2,291 million
[(52.4)%]
Basic earnings per share
Diluted earnings per share
Six months ended
Yen
Yen
June 30, 2025
90.51
89.98
June 30, 2024
72.75
72.10
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
June 30, 2025
81,766
67,040
81.8
2,601.36
December 31, 2024
82,850
66,536
80.0
2,534.19
Reference: Equity
As of June 30, 2025: ¥66,881 million
As of December 31, 2024: ¥66,269 million
-
Consolidated operating results (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
-
0.00
Fiscal year ending December 31, 2025 (Forecast)
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 36,500 | % 15.9 | Millions of yen 4,800 | % 38.7 | Millions of yen 6,000 | % 31.8 | Millions of yen 4,200 | % 29.1 | Yen 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 semi-annual 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, see "2. Interim Consolidated Financial Statements and Major Notes (4) Notes on Interim Consolidated Financial Statements (Changes in Accounting Policy)".
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 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 June 30, 2025
1,874,301 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)
Six months ended June 30, 2025 | 25,836,473 shares |
Six months ended June 30, 2024 | 26,115,424 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.
Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
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. Qualitative Information on the Interim Financial Results (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts."
Semi-annual consolidated balance sheet | ||
(Thousands of yen) | ||
As of December 31, 2024 | As of June 30, 2025 | |
Assets | ||
Current assets | ||
Cash and deposits | 12,693,887 | 16,750,644 |
Notes and accounts receivable - trade, and contract assets | 8,660,575 | 3,415,902 |
Securities | 5,999,384 | 5,998,742 |
Merchandise and finished goods | 7,864,569 | 6,453,672 |
Work in process | 1,199,072 | 1,696,732 |
Raw materials and supplies | 987,751 | 940,288 |
Other | 2,852,290 | 2,320,773 |
Total current assets | 40,257,532 | 37,576,757 |
Non-current assets
Property, plant and equipment
Buildings and structures, net | 6,921,745 | 6,775,641 |
Machinery, equipment and vehicles, net | 714,107 | 693,915 |
Tools, furniture and fixtures, net | 374,866 | 387,037 |
Land | 4,000,340 | 3,990,155 |
Construction in progress | 97,138 | 187,867 |
Total property, plant and equipment | 12,108,198 | 12,034,616 |
Intangible assets | 47,206 | 47,008 |
Investments and other assets | ||
Investment securities | 29,767,694 | 31,037,998 |
Retirement benefit asset | 116,575 | 98,613 |
Deferred tax assets | 154,570 | 189,019 |
Other | 398,562 | 782,468 |
Total investments and other assets | 30,437,403 | 32,108,100 |
Total non-current assets | 42,592,807 | 44,189,725 |
Total assets | 82,850,340 | 81,766,482 |
(Thousands of yen)
As of December 31, 2024 | As of June 30, 2025 | |
Liabilities | ||
Current liabilities | ||
Accounts payable - trade | 3,845,321 | 1,455,096 |
Current portion of long-term borrowings | 44,000 | 44,000 |
Income taxes payable | 857,851 | 1,004,098 |
Other | 1,960,770 | 1,749,290 |
Total current liabilities | 6,707,944 | 4,252,485 |
Non-current liabilities | ||
Long-term borrowings | 56,000 | 34,000 |
Long-term guarantee deposits | 409,403 | 379,037 |
Deferred tax liabilities | 8,077,357 | 8,691,896 |
Retirement benefit liability | 134,320 | 130,882 |
Provision for share awards for directors (and other officers) | 665,169 | 665,169 |
Asset retirement obligations | 76,477 | 76,480 |
Long-term accounts payable - other | 78,650 | 78,650 |
Other | 108,590 | 417,823 |
Total non-current liabilities | 9,605,969 | 10,473,939 |
Total liabilities | 16,313,913 | 14,726,425 |
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 | 47,007,286 |
Treasury shares | (1,062,870) | (2,238,613) |
Total shareholders' equity | 47,600,028 | 47,541,262 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 18,597,568 | 19,227,584 |
Deferred gains or losses on hedges | 71,893 | 112,455 |
Total accumulated other comprehensive income | 18,669,461 | 19,340,039 |
Share acquisition rights | 266,936 | 158,756 |
Total net assets | 66,536,426 | 67,040,057 |
Total liabilities and net assets | 82,850,340 | 81,766,482 |
Semi-annual consolidated statement of income | |||
(Thousands of yen) | |||
Six months ended June 30, 2024 | Six months ended June 30, 2025 | ||
Net sales | 17,869,660 | 18,539,137 | |
Cost of sales | 13,340,749 | 13,424,573 | |
Gross profit | 4,528,911 | 5,114,563 | |
Selling, general and administrative expenses | 2,400,969 | 2,457,809 | |
Operating profit | 2,127,942 | 2,656,754 | |
Non-operating income | |||
Interest income | 1,108 | 10,484 | |
Dividend income | 551,712 | 605,136 | |
Other | 14,548 | 40,671 | |
Total non-operating income | 567,370 | 656,293 | |
Non-operating expenses | |||
Interest expenses | 1,289 | 2,057 | |
Share of loss of entities accounted for using equity method | 581 | 775 | |
Foreign exchange losses | 5,126 | - | |
Commission expenses | - | 1,351 | |
Other | 85 | 279 | |
Total non-operating expenses | 7,083 | 4,464 | |
Ordinary profit | 2,688,228 | 3,308,583 | |
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 | 2,688,193 | 3,308,410 | |
Income taxes - current | 922,402 | 1,048,933 | |
Income taxes - deferred | (134,035) | (78,874) | |
Total income taxes | 788,366 | 970,059 | |
Profit | 1,899,827 | 2,338,351 | |
Profit attributable to owners of parent | 1,899,827 | 2,338,351 | |
Semi-annual consolidated statement of comprehensive income | |||
(Thousands of yen) | |||
Six months ended June 30, 2024 | Six months ended June 30, 2025 | ||
Profit | 1,899,827 | 2,338,351 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 170,678 | 630,015 | |
Deferred gains or losses on hedges | 221,154 | 40,561 | |
Total other comprehensive income | 391,833 | 670,577 | |
Comprehensive income | 2,291,660 | 3,008,928 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of parent | 2,291,660 | 3,008,928 | |
(Thousands of yen)
Six months ended June 30, 2025Cash flows from operating activities | ||
Profit before income taxes | 2,688,193 | 3,308,410 |
Depreciation | 360,789 | 361,241 |
Interest and dividend income | (552,821) | (615,621) |
Interest expenses | 1,289 | 2,057 |
Share of loss (profit) of entities accounted for using equity method | 581 | 775 |
Decrease (increase) in retirement benefit asset | 34,653 | 17,962 |
Increase (decrease) in retirement benefit liability | 6,950 | (3,438) |
Loss (gain) on disposal of non-current assets | 35 | - |
Decrease (increase) in trade receivables | 1,708,420 | 5,239,015 |
Decrease (increase) in inventories | 1,641,251 | 960,699 |
Increase (decrease) in trade payables | (1,419,981) | (2,085,878) |
Increase (decrease) in guarantee deposits received | (35,376) | (30,376) |
Decrease (increase) in other current assets | (79,560) | 294,762 |
Increase (decrease) in other current liabilities | 252,666 | 125,900 |
Other, net | 27,192 | (377,326) |
Subtotal | 4,634,283 | 7,198,184 |
Interest and dividends received | 551,921 | 613,377 |
Interest paid | (2,368) | (2,246) |
Income taxes paid | (277,715) | (905,215) |
Net cash provided by (used in) operating activities | 4,906,121 | 6,904,101 |
Cash flows from investing activities | ||
Payments into time deposits | (950,302) | (950,300) |
Proceeds from withdrawal of time deposits | 1,953,078 | 950,300 |
Purchase of securities | (6,999,797) | (4,997,499) |
Proceeds from redemption of securities | 5,000,000 | 5,000,000 |
Purchase of property, plant and equipment | (213,673) | (307,683) |
Payments for retirement of property, plant and equipment | (31,469) | - |
Purchase of intangible assets | (590) | (9,562) |
Purchase of investment securities | (163,416) | - |
Purchase of long-term prepaid expenses | (1,200) | (1,440) |
Other, net | - | 1,900 |
Net cash provided by (used in) investing activities | (1,407,369) | (314,283) |
Cash flows from financing activities | ||
Proceeds from short-term borrowings | 360,000 | 360,000 |
Repayments of short-term borrowings | (360,000) | (360,000) |
Proceeds from long-term borrowings | 100,000 | - |
Repayments of long-term borrowings | - | (22,000) |
Repayments of lease liabilities | (11,061) | (12,905) |
Proceeds from issuance of shares | 80 | 60 |
Purchase of treasury shares | (131) | (1,175,743) |
Dividends paid | (1,325,029) | (1,322,472) |
Net cash provided by (used in) financing activities | (1,236,142) | (2,533,060) |
Net increase (decrease) in cash and cash equivalents | 2,262,608 | 4,056,756 |
Cash and cash equivalents at beginning of period | 12,045,523 | 12,743,587 |
Cash and cash equivalents at end of period | 14,308,132 | 16,800,343 |
(Notes on segment information, etc.) Segment Information
Previous interim consolidated accounting period (January 1, 2024 to June 30, 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)
Interim Consolidated Statements of Income (Note 2)
Sales
5,701,528
9,019,980
1,430,680
1,431,216
-
-
-21,481
7,132,208
10,472,677
-
-
7,132,208
10,472,677
Government
Other
Revenue generated from customer contracts
14,721,508
2,861,896
-
21,481
17,604,886
-
17,604,886
Other Earnings
-
-
264,774
-
264,774
-
264,774
Revenues from external customers
14,721,508
2,861,896
264,774
21,481
17,869,660
-
17,869,660
Transactions with other segments
470
50,241
-
-
50,712
(50,712)
-
Total
14,721,979
2,912,137
264,774
21,481
17,920,372
(50,712)
17,869,660
Segment Profit
2,130,774
472,230
199,190
10,474
2,812,671
(684,729)
2,127,942
Note: 1. Segment profit adjustment of (684,729) thousand yen includes 1,788 thousand yen for the elimination of inter-segment transactions and (686,517) thousand yen for company-wide expenses that have not been allocated to each reporting segment. 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 interim consolidated statements of income.
Interim Consolidated Accounting Period (January 1, 2025 to June 30, 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)
Interim Consolidated Statements of Income (Note 2)
Sales
6,135,708
8,972,215
1,647,457
1,515,306
-
-
7,783,166
10,487,522
-
-
7,783,166
10,487,522
Government
Other
Revenue generated from customer contracts
15,107,923
3,162,764
-
18,270,688
-
18,270,688
Other Earnings
-
-
268,449
268,449
-
268,449
Revenues from external customers
15,107,923
3,162,764
268,449
18,539,137
-
18,539,137
Transactions with other segments
992
23,691
-
24,683
(24,683)
-
Total
15,108,916
3,186,456
268,449
18,563,821
(24,683)
18,539,137
Segment Profit
2,533,494
549,749
201,677
3,284,921
(628,166)
2,656,754
Note: 1. Segment profit adjustment of (628,166) thousand yen includes (376) thousand yen for inter-segment transactions and (627,789) thousand yen for company-wide expenses that have not been 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 interim consolidated statements of income.
2. Changes to Reporting Segments, etc.
In the previous fiscal year, as a result of the transfer of the insurance agency business that was included in the "Other" segment, the "Other" reporting segment was abolished from the interim consolidated accounting period.