Torishima Pump Mfg.co., Ltd. TSE:6363

Torishima Pump Mfg : Consolidated Financial Results for the 1st quarter of FY2024

Published August 8, 2024 at 7:39 a.m. UTC

Source: MarketScreener

RESULTS OF OPERATIONS FOR

THE FIRST QUARTER ENDED JUNE 30, 2024 (CONSOLIDATED)

Listed company name:

(Japanese GAAP)

August 8, 2024

Torishima Pump Mfg. Co., Ltd.

Stock exchange listings:

Tokyo

URL:http://www.torishima.co.jp

Code number:

6363

Representative:

Kotaro Harada, CEO

Contact person:

Ko Kaneko, General Manager of Finance & Accounting Division

Phone:

+81-72-695-0551

August 8, 2024

Scheduled date of filing quarterly financial statements:

Scheduled date of starting dividend payment: -

Preparing supplementary material on quarterly financial results: Yes

Holding quarterly financial results presentation meeting: No

Note: The amounts are rounded down to the nearest million.

1. Consolidated financial results of the first quarter ended June 30, 2024 (April 1, 2024 through June 30, 2024)

(1) Operating results

Millions of yen, except per share data

Net sales

Operating income

Ordinary income

Net income attributable

to owners of parent

First quarter ended

17,518

1.1

678

△44.0

784

△21.3

1,272

50.3

June 30, 2024

First quarter ended

17,331

57.0

1,211

295.8

997

162.1

846

534.6

June 30, 2023

Note: Comprehensive

income: (First quarter ended June 30, 2024) ¥ 1,273million (△

29.1%)

(First quarter ended June 30, 2023) ¥ 1,795million (296.5%)

Net income per share

Net income per share-Diluted

First quarter ended June 30, 2024

Yen

47 0

47 77

First quarter ended June 30, 2023

31.98

31.89

(2) Financial position

Millions of yen, except per equity ratio

June 30, 2024

Total assets

Net assets

3 015

Equity Ratio

293

March 31, 2024

101,560

52,632

51.4

(Reference): Shareholders' equity: (June 30, 2024) ¥ 52,593 million

(March 31, 2024) ¥ 52,228 million

- 1 -

2. Dividends

Dividends per share

End of 1Q

End of 2Q

End of 3Q

Fiscal year end

Annual

Yen

28.00

30.00

58.00

FY2024

FY2024 (Forecast)

30.00

60.00

Note1: Revision of forecast for dividend

during this quarter: No

Millions of yen, except per share data

3. Forecast for fiscal year ending March 31, 2025

Net sales

Operating income

Ordinary income

attributableNet incometo

Net income

owners of parent

per share

Annual

86,000

7,300

6,300

Yen

6.0

7.0

0.0

5,300 △14.9

199.49

Note1: %

represents percentage

change from a comparable previous period

Note2: Revision of forecast during this quarter: No

Note3: Explanations for adequate utilization of the forecast, and other note

Forecast shown above is prepared based on information available as of the issuing date of this report and

assumptions that we consider as reasonable, and therefore the actual results may differ from these forecasted

figures due to various unknown factors.

- 2 -

Consolidated quarterly financial statement		(Millions of yen)
(1) Consolidated quarterly balance sheet
Assets	As of March 31, 2024	As of June 30, 2024
Current assets
Cash and deposits	13,402	17,091
contractNotes andassetsaccounts receivable - trade, and	35,421	28,646
Merchandise and finished goods	403	479
Work in process	12,564	14,116
Raw materials and supplies	2,943	2,974
Advance payments to suppliers	1,866	1,503
Other	2,746	2,914
Allowance for doubtful accounts	△990	△779
Total current assets	68,357	66,947
Non-current assets
Property, plant and equipment	17,993	19,502
Intangible assets	672	676
Investments and other assets
Investment securities	11,526	11,107
Other	4,010	4,082
Allowance for doubtful accounts	△1,000	△1,021
Total investments and other assets	14,536	14,167
Total non-current assets	33,202	34,346
Total assets		101,560	101,293

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				(Millions of yen)
Liabilities			As of March 31, 2024	As of June 30, 2024
Current liabilities
Notes and accounts payable - trade	11,845	9,570
Short-term borrowings			5,613	4,641
Income taxes payable			1,324	597
Contract liabilities			6,542	7,680
Provision for bonuses			1,119	597
Provision for product warranties	1,215	1,148
Provision for loss on construction contracts	900	763
Other			6,073	9,463
Total current liabilities			34,634	34,461
Non-current liabilities
Long-term borrowings			9,211	9,102
Deferred tax liabilities			2,476	2,114
(andProvisionotherfofficr retirementrs)	benefits for directors	7	－

Retirement benefit liability		400	403
Other			2,197	2,195
Total non-current liabilities	14,294	13,816
Total liabilities			48,928	48,278
Net assets
Shareholders' equity
Share capital			1,592	1,592
Capital surplus			6,369	6,370
Retained earnings			38,546	38,924
Treasury shares			△1,863	△1,856
Total shareholders' equity			44,644	45,031
Accumulated other comprehensive income
secValuationritiesdifference on available-for-sale	4,344	4,175
Deferred gains or losses on hedges	△999	△1,802
Foreign currency translation adjustment	2,955	3,927
Remeasurements of defined benefit plans	1,283	1,261
Total accumulated other comprehensive income	7,584	7,561
Share acquisition rights			77	72
Non-controlling interests			326	349
Total net assets			52,632	53,015
Total liabilities and net assets			101,560	101,293

- 4 -

Consolidated quarterly statement of (comprehensive) income

Consolidated quarterly statement of income (April 1 - June 30, 2024)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2023	June 30, 2024
Net sales	17,331	17,518
Cost of sales	12,448	12,650
Gross profit	4,883	4,868
Selling, general and administrative expenses	3,671	4,190
Operating profit	1,211	678
Non-operating income
Dividend income	106	167
Rental income	28	29
methodShare of profit of entities accounted for using equity		36	18
Other		60	95
Total non-operating income	232	311
Non-operating expenses
Interest expenses	28	38
Foreign exchange losses	390	114
Other	28	52
Total non-operating expenses	447	205
Ordinary profit	997	784
Extraordinary income	－	－
Gain on sale of investment securities		1,020
Gain on step acquisitions	238
Total extraordinary income	238	1,020
Profit before income taxes	1,235	1,804
Income taxes	375	524
Profit	859	1,280
Profit attributable to non-controlling interests	13	8
Profit attributable to owners of parent		846	1,272

- 5 -

Consolidated quarterly statement of comprehensive income (April 1 - June 30, 2024)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2023	June 30, 2024
Profit		859	1,280
Other comprehensive income
Valuation difference on available-for-sale securities	926	△169
Deferred gains or losses on hedges	△342	△803
Foreign currency translation adjustment	373	986
Remeasurements of defined benefit plans, net of tax	△23	△21
forShareusingof otherequitycomprehensivemethod	income of entities accounted	2	0
Total other comprehensive income	935	△7
Comprehensive income		1,795	1,273
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	1,774	1,249
interestsComprehensive income attributable to non-controlling	21	23

- 6 -

Orders received and sales by demand category				(Millions of yen)
Orders received
	Fr m April 1, 2023	Fr m April 1, 2024		Year-on-year
	to June 30, 2023		to June 30, 2024			comparison
Public	4,448		21.7%	5,440		22.5%	991		22.3%
Private	2,677		13.1%	2,667		11.0%		△9		△0.4%
Overseas	13,344		65.2%	16,049		66.5%	2,704		20.3%
Total	20,471		100.0%	24,157		100.0%	3,686		18.0%
Net Sales								(Millions of yen)
	Fr m April 1, 2023	Fr m April 1, 2024		Year-on-year
	to June 30, 2023		to June 30, 2024		comparison
Public	2,546		14.7%	2,916		16.6%		370		14.5%
Private	3,016		17.4%	2,764		15.8%		△251		△8.3%
Overseas	11,767		67.9%	11,837		67.6%		69		0.6%
Total	17,331		100.0%	17,518		100.0%		187		1.1%
Orders backlog							(Millions of yen)
	As of June 30, 2023	As of June 30, 2024		Yearcomparison-on-year
Public	22,882		25.0%	29,037		28.5%	6,154		26.9%
Private	10,160		11.1%	9,652		9.5%		△508		△5.0%
Overseas	58,382		63.9%	63,087		62.0%	4,704		8.1%
Total	91,426		100.0%	101,777		100.0%	10,350		11.3%

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