Tokuyama Corporation TSE:4043
Tokuyama : The 161st Annual Securities Report (Financial Section)
Source: MarketScreener
Disclaimer: This document has been translated from the financial section of the Japanese Annual Securities Report for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Annual Securities Report
（Financial Section）
The 161st Fiscal Term (April 1, 2024 to March 31, 2025)
Tokuyama Corporation
1. Consolidated financial statements etc.
(1) Consolidated financial statements
Consolidated balance sheets
(Millions of yen)
As of March 31, 2024 As of March 31, 2025
Assets
Current assets
Cash and deposits 48,684 75,544
Notes receivable - trade *7 5,466 3,520
Electronically recorded monetary claims -operating
*7 4,383
3,433
Accounts receivable - trade 77,279 74,596
Lease receivables 11 10
Merchandise and finished goods 28,522 22,673
Work in process 18,428 21,028
Raw materials and supplies 24,938 25,951
Other 10,159 7,957
Allowance for doubtful accounts (99) (85)
Total current assets 217,776 234,630 Non-current assets
Property, plant and equipment
Buildings and structures *3 119,122 *3 126,460
Accumulated depreciation (80,870) (83,476)
Buildings and structures, net 38,252 42,983 Machinery, equipment and vehicles *2, *3 496,906 *2, *3 503,931
Accumulated depreciation (434,655) (443,906)
Machinery, equipment and vehicles, net 62,251 60,025
Tools, furniture and fixtures *3 24,729 *3 25,265
Accumulated depreciation (20,673) (21,254)
Tools, furniture and fixtures, net 4,056 4,010
Land 33,117 *3 33,003
Leased assets 11,038 12,105
Accumulated depreciation (4,463) (4,918)
Leased assets, net 6,575 7,186
Construction in progress 24,503 25,081
Total property, plant and equipment 168,755 172,291 Intangible assets
Goodwill 252 69
Leased assets 20 14
Other 3,190 4,126
Total intangible assets 3,463 4,210 Investments and other assets
Investment securities *1, *2 36,196 *1, *2 36,050 Long-term loans receivable 2,046 1,835
Deferred tax assets 14,834 11,383
Retirement benefit asset 9,816 9,252
Other *1 4,522 *1 6,635
Allowance for investment loss (7) (7)
Allowance for doubtful accounts (44) (74)
Total investments and other assets 67,365 65,074
Total non-current assets 239,583 241,577
Total assets 457,360 476,207
(Millions of yen)
As of March 31, 2024 As of March 31, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade 48,093 45,742
Short-term borrowings 4,234 6,446
Commercial papers 15,000 -
Current portion of long-term borrowings *2 2,225 *2 3,028
Lease obligations 1,247 1,377
Income taxes payable 3,195 2,982
Provision for bonuses 3,241 3,744
Provision for repairs 4,656 5,084
Provision for decommissioning and removal 186 455
Provision for product warranties 77 121
Provision for loss on compensation for damage 202 21
Provision for environmental measures 14 68
Provision for business restructuring - 526
Provision for contract loss 499 654
Other 21,061 21,083
Total current liabilities 103,935 91,338 Non-current liabilities
Bonds payable 15,000 35,000
Long-term borrowings *2 63,262 *2 59,644
Lease obligations 4,814 5,194
Long-term income taxes payable - 84
Deferred tax liabilities: 251 246
Provision for retirement benefits for directors (and other officers)
135
159
Provision for share awards 53 80
Provision for repairs 1,671 1,541
Provision for decommissioning and removal 224 16
Allowance for loss on compensation for building materials
13
-
Provision for environmental measures 67 -
Provision for contract loss - 44
Retirement benefit liability 1,741 1,817
Asset retirement obligations 19 181
Other 6,220 7,001
Total non-current liabilities 93,475 111,011
Total liabilities 197,411 202,349
Net assets
Shareholders' equity
Share capital 10,000 10,000
Capital surplus 22,947 22,777
Retained earnings 197,418 213,953
Treasury shares (422) (428)
Total shareholders' equity 229,944 246,302 Accumulated other comprehensive income
Valuation difference on available-for-sale securities 9,221 7,187
Deferred gains or losses on hedges (0) -
Foreign currency translation adjustment 8,446 6,883
Remeasurements of defined benefit plans 1,645 1,188
Total accumulated other comprehensive income 19,312 15,259
Non-controlling interests 10,691 12,295
Total net assets 259,948 273,858
Total liabilities and net assets 457,360 476,207
Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income | (Millions of yen) | |
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | |
Net sales | *1 341,990 | *1 343,073 |
Cost of sales | *2, *5 242,470 | *2, *5 234,929 |
Gross profit | 99,519 | 108,143 |
Selling, general and administrative expenses | ||
Selling expenses | *3 43,286 | *3 45,182 |
General and administrative expenses | *4, *5 30,595 | *4, *5 32,993 |
Total selling, general and administrative expenses | 73,882 | 78,175 |
Operating profit | 25,637 | 29,968 |
Non-operating income | ||
Interest income | 234 | 261 |
Dividend income | 564 | 610 |
Share of profit of entities accounted for using equity method | 905 | 442 |
Outsourcing service income | 548 | 1,397 |
Trial products income | 295 | 1,255 |
Rental income from non-current assets | 616 | 615 |
Other | 2,235 | 1,421 |
Total non-operating income | 5,401 | 6,004 |
Non-operating expenses | ||
Interest expenses | 1,333 | 912 |
Trial products expenses | 347 | 1,181 |
Fiduciary obligation expenses | 441 | 1,106 |
Cost of idle operations | 270 | 784 |
Other | 2,354 | 2,398 |
Total non-operating expenses | 4,746 | 6,384 |
Ordinary profit | 26,292 | 29,588 |
Extraordinary income | ||
Gain on sale of non-current assets | *6 69 | *6 58 |
Gain on sale of investment securities | 609 | 1,371 |
Gain on share exchange of subsidiaries and associates | - | *9 2,313 |
Subsidy income | 106 | 251 |
Gain on insurance claims | 108 | 44 |
Total extraordinary income | 894 | 4,038 |
Extraordinary losses | ||
Loss on sale of non-current assets | *7 50 | *7 2 |
Impairment losses | *8 83 | *8 397 |
Loss on disaster | 20 | 30 |
Loss on tax purpose reduction entry of non-current assets | 41 | 137 |
Loss on disposal of non-current assets | 762 | 704 |
Loss on sale of shares of subsidiaries and associates | 25 | - |
Provision for loss on compensation for damage | 197 | - |
Provision for business restructuring | - | *10 539 |
Business restructuring expenses | - | *11 499 |
Compensation for damage | 148 | - |
Total extraordinary loss | 1,330 | 2,311 |
Profit before income taxes | 25,856 | 31,315 |
Income taxes - current | 4,741 | 4,337 |
Income taxes - deferred | 3,703 | 3,699 |
Total income taxes | 8,445 | 8,037 |
Profit | 17,411 | 23,278 |
Loss attributable to non-controlling interests | (340) | (109) |
Profit attributable to owners of parent | 17,751 | 23,388 |
Consolidated statements of comprehensive income
Fiscal year ended March 31, 2024
(Millions of yen)
Fiscal year ended March 31, 2025
Profit 17,411 23,278
Other comprehensive income
Valuation difference on available-for-sale securities 5,213 (2,031)
Deferred gains or losses on hedges 2 0
Foreign currency translation adjustment 3,170 (1,474)
Remeasurements of defined benefit plans, net of tax (245) (447)
Share of other comprehensive income of entities
201 (63)
accounted for using equity method Total other comprehensive income *1 8,342 *1 (4,017)
Comprehensive income 25,753 19,261 Comprehensive income attributable to
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests
25,553 19,912
200 (651)