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August 9, 2024
Consolidated Financial Results | |
for the Three Months Ended June 30, 2024 | |
(Under Japanese GAAP) | |
Company name: | Tohokushinsha Film Corporation |
Listing: | Tokyo Stock Exchange |
Securities code: | 2329 |
URL: | https://www.tfc.co.jp/ |
Representative: | Keiichi Kosaka, President & CEO, Representative Director |
Inquiries: | Satoshi Nakano, Member of the Board |
Telephone: | +81-3-5414-0211 |
Scheduled date to commence dividend payments: | September 24, 2024 |
Preparation of supplementary material on financial results: | None |
Holding of financial results briefing: | None |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 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 | ||||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
June 30, 2024 | 9,513 | (23.0) | 363 | 22.1 | 420 | 558.1 | 1,374 | - | ||||
June 30, 2023 | 12,349 | (6.0) | 297 | (67.9) | 63 | (93.9) | (86) | - |
Note: Comprehensive income For the three months ended June 30, 2024: | ¥ 1,583 million | [ 386.6 % ] | ||||
For the three months ended June 30, 2023: | ¥ 325 million | [ (53.6) % ] | ||||
Basic earnings per share | Diluted earnings per share | |||||
Three months ended | Yen | Yen | ||||
June 30, 2024 | 10.19 | - | ||||
June 30, 2023 | (0.64) | - | ||||
Note: On July 1, 2024, the Company conducted a share split at a ratio of 3 shares per share of common shares. "Basic earnings per share" and "diluted earnings per share" are calculated on the assumption that the said share split was conducted at the beginning of the previous fiscal year.
(2) Consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | ||
As of | Millions of yen | Millions of yen | % | |
June 30, 2024 | 95,023 | 80,497 | 83.8 | |
March 31, 2024 | 97,871 | 82,419 | 83.3 | |
Reference: Equity | ¥ 79,607 million | |||
As of June 30, 2024 : | ||||
As of March 31, 2024: | ¥ 81,572 million |
2. Cash dividends
Annual dividends per share | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | |
- | 0.00 | - | 78.00 | 78.00 | ||
March 31, 2024 | ||||||
Fiscal year ending | 19.00 | |||||
March 31, 2025 | ||||||
Fiscal year ending | ||||||
March 31, 2025 | 6.67 | 6.33 | 6.67 | |||
(Forecast) |
Note: Revisions to the forecast of cash dividends most recently announced: None
- On July 1, 2024, the Company conducted a share split at a ratio of 3 shares per share of common shares. The figures for the fiscal year ending March 31, 2024 and the end of the first quarter of the fiscal year ending March 31, 2025 represent the actual dividend amount prior to the stock split. The annual dividend forecast is not shown because a simple total is not possible due to the implementation of a stock split. The annual dividend without considering the stock split would be 78.01 yen per share.
- Forecast of consolidated financial results for the fiscal 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 | Basic earnings per share | |||||||||
owners of parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
Fiscal year ending | 46,045 | (12.8) | 2,163 | (19.2) | 2,705 | 22.1 | 3,469 | (13.7) | 25.72 | ||||
March 31, 2025 | |||||||||||||
Note: Revisions to the earnings forecasts most recently announced: None
2. On July 1, 2024, the Company conducted a share split at a ratio of 3 shares per share of common shares. Net income per share" in the forecast of consolidated financial results takes into account the effect of this stock split. Net income per share" without considering the stock split would be 77.15 yen.
* Notes
(1) Significant changes in the scope of consolidation during the period: Yes
Excluded: | 1 company ( Star Channel Inc. ) |
Note: For details, please refer to "2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to Quarterly Consolidated Financial Statements (Notes on Changes in Scope of Consolidation or Application of Equity Method)" on page 8 of the attached document.
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
Note: For details, please refer to "2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to Quarterly Consolidated Financial Statements (Notes on accounting procedures specific to preparation of quarterly consolidated financial statements)" on page 8 of the attached materials.
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of | June 30, 2024 | 140,206,002 shares |
As of | March 31, 2024 | 140,206,002 shares |
(ii) Number of treasury shares at the end of the period
As of | June 30, 2024 | 5,360,787 shares |
As of | March 31, 2024 | 5,360,787 shares |
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended | June 30, 2024 | 134,845,215 shares |
Three months ended | June 30, 2023 | 134,845,461 shares |
Note: On July 1, 2024, the Company conducted a share split at a ratio of 3 shares per share of common shares. "Total number of issued shares at the end of the period," "number of treasury shares at the end of the period," and "average number of shares outstanding during the period" are calculated on the assumption that the said share split was conducted at the beginning of the previous fiscal year.
- Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (optional)
- Proper use of earnings forecasts, and other special matters
(Cautions on forward-looking statements, etc.)
The forward-looking statements in this document are based on information currently available to the Company and certain assumptions that the Company considers reasonable, and are not intended to be a promise by the Company that they will be achieved. Actual financial results, etc. may differ substantially due to various factors. Please refer to "1. Operating Results (3) Explanation of Forward-Looking Statements" on page 3 of the attached materials for the assumptions used in forecasting business results and precautions regarding the use of business results forecasts.
Quarterly consolidated balance sheet
(Millions of yen) | |||
As of March 31, 2024 | As of June 30, 2024 | ||
Assets | |||
Current assets | |||
Cash and deposits | 45,710 | 50,896 | |
Notes and accounts receivable - trade, and contract assets | 10,704 | 5,556 | |
Securities | 73 | 32 | |
TV exhibition rights and Videogram rights | 2,368 | 1,169 | |
Work in process | 2,255 | 3,289 | |
Other inventories | 186 | 207 | |
Other | 840 | 907 | |
Allowance for doubtful accounts | (14) | (4) | |
Total current assets | 62,124 | 62,055 | |
Non-current assets | |||
Property, plant and equipment | |||
Land | 11,972 | 12,019 | |
Other, net | 5,583 | 5,581 | |
Total property, plant and equipment | 17,555 | 17,600 | |
Intangible assets | |||
Goodwill | 1,309 | 1,267 | |
Customer-related intangible assets | 811 | 785 | |
Other | 265 | 233 | |
Total intangible assets | 2,387 | 2,287 | |
Investments and other assets | |||
Investment securities | 14,577 | 11,954 | |
Other | 1,468 | 1,364 | |
Allowance for doubtful accounts | (241) | (238) | |
Total investments and other assets | 15,804 | 13,079 | |
Total non-current assets | 35,747 | 32,967 | |
Total assets | 97,871 | 95,023 | |
(Millions of yen)
As of March 31, 2024 | As of June 30, 2024 |
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits for directors (and other officers) Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment
7,827 | 5,936 |
283 | 226 |
682 | 1,004 |
823 | 383 |
2,750 | 4,174 |
12,367 | 11,724 |
347 | 336 |
1,255 | 1,052 |
1,482 | 1,412 |
3,084 | 2,800 |
15,451 | 14,525 |
2,487 | 2,487 |
3,588 | 3,588 |
71,637 | 69,506 |
(1,728) | (1,728) |
75,984 | 73,853 |
3,705 | 3,375 |
1,598 | 2,120 |
Remeasurements of defined benefit plans | 284 | 258 |
Total accumulated other comprehensive income | 5,588 | 5,754 |
Non-controlling interests | 847 | 890 |
Total net assets | 82,419 | 80,497 |
Total liabilities and net assets | 97,871 | 95,023 |
Quarterly consolidated statement of income
(Millions of yen) | |||
Three months ended | Three months ended | ||
June 30, 2023 | June 30, 2024 | ||
Net sales | 12,349 | 9,513 | |
Cost of sales | 8,813 | 6,670 | |
Gross profit | 3,536 | 2,843 | |
Selling, general and administrative expenses | 3,238 | 2,479 | |
Operating profit | 297 | 363 | |
Non-operating income | |||
Interest income | 22 | 40 | |
Dividend income | 95 | 87 | |
Share of profit of entities accounted for using equity method | - | 0 | |
Consulting fee income | 27 | 25 | |
Rental income from buildings | 61 | 106 | |
Other | 16 | 12 | |
Total non-operating income | 223 | 272 | |
Non-operating expenses | |||
Interest expenses | 13 | 2 | |
Share of loss of entities accounted for using equity method | 0 | - | |
Foreign exchange losses | 92 | 25 | |
Rental costs on real estate | 23 | 56 | |
Loss on investments in investment partnerships | 314 | 124 | |
Commission expenses | 6 | 5 | |
Other | 5 | 2 | |
Total non-operating expenses | 457 | 216 | |
Ordinary profit | 63 | 420 | |
Extraordinary income | |||
Gain on sale of non-current assets | - | 9 | |
Gain on sale of shares of subsidiaries and associates | - | 4,141 | |
Total extraordinary income | - | 4,151 | |
Extraordinary losses | |||
Loss on valuation of investment securities | - | 2,005 | |
Total extraordinary losses | - | 2,005 | |
Profit before income taxes | 63 | 2,566 | |
Income taxes | 83 | 1,148 | |
Profit (loss) | (20) | 1,417 | |
Profit attributable to non-controlling interests | 66 | 43 | |
Profit (loss) attributable to owners of parent | (86) | 1,374 | |
Quarterly consolidated statement of comprehensive income
(Millions of yen) | ||
Three months ended | Three months ended | |
June 30, 2023 | June 30, 2024 | |
Profit (loss) | (20) | 1,417 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 324 | (330) |
Foreign currency translation adjustment | 50 | 522 |
Remeasurements of defined benefit plans, net of tax | (31) | (26) |
Share of other comprehensive income of entities accounted for using equity | 1 | - |
method | ||
Total other comprehensive income | 345 | 165 |
Comprehensive income | 325 | 1,583 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 258 | 1,540 |
Comprehensive income attributable to non-controlling interests | 66 | 43 |