Torishima Pump Mfg.co., Ltd. TSE:6363
Torishima Pump Mfg : Presentation Material of Consolidated Financial Results for the 1st quarter FY2023
Source: MarketScreener
Consolidated Financial Results for the 1st quarter of FY2023
(April 1st 2023 ~ June 30th 2023)
< Aug 10th 2023 >
TORISHIMA PUMP MFG.CO.,LTD.
Securities Code : 6363
www.torishima.co.jp/en
Torishima Pump Mfg. Co., Ltd. | 1 |
FY2023 1Q Financial Results Outline
Orders Received |
Sales |
Operating Income |
Ordinary Income |
Billions of yen
- 20.5
- 17.3
- 1.2
- 1.0
Y0Y
-4.7-18.7% +6.3 +57.3% +0.9 +300% +0.6 +150%
Net Income |
…
0.9
+0.8 +800%
Torishima Pump Mfg. Co., Ltd. | 2 |
FY2023 1Q Consolidated Financial Results
-Orders received: 23.2% decreased in public sector, 5.3% increased in private sector, and the overseas sector saw a 20.8% decline (due to a large project in the previous | |||||||||
fiscal year), Overall orders received progressed steadily against the annual plan. | |||||||||
-Sales: 22.6% decreased in public sector, 44.7% increased in private sector, and 107.8% increased largely in overseas sector due to the start of recording sales from | |||||||||
large projects, and overall sales were up 57.3% to 17.3 billion yen. | |||||||||
-Profit: Despite an increase in SG&A expenses, including personnel costs increases and sales commissions, operating income rose sharply driven by higher sales. | |||||||||
Despite a non-operating foreign exchange loss of approximately 400 million yen, net income increased substantially due to extraordinary gains, including a | |||||||||
valuation gain resulting from the consolidation of a subsidiary. | |||||||||
Billions of yen | |||||||||
FY2022 1Q | FY2023 1Q | YOY | FY2023 | Progress | |||||
Amount | % | Full-year plan | |||||||
Orders Received | 25.2 | 20.5 | -4.7 | ▲18.7% | 70.0 | 29.3% | |||
Sales | 11.0 | 17.3 | +6.3 | +57.3% | 75.0 | 23.1% | |||
Gross Operating Income | 3.1 | 4.8 | +1.7 | +54.8% | |||||
(Gross profit margin) | (28.2%) | (27.7%) | (-0.5pt) | ― | |||||
SG&A expense | 2.7 | 3.7 | +1.0 | +37.0% | |||||
Operating income | 0.3 | 1.2 | +0.9 | +300% | 6.8 | 17.6% | |||
(Operating profit margin) | (2.7%) | (6.9%) | (+4.2pt) | ― | (9.1%) | ||||
Non-operating | 0.1 | -0.2 | -0.3 | ― | ― | ― | |||
Profit or loss | |||||||||
Ordinary income | 0.4 | 1.0 | +0.6 | +150% | 6.3 | 15.9% | |||
Extraordinary | -0.1 | 0.2 | +0.3 | ― | ― | ― | |||
profit or loss | |||||||||
Net income | 0.1 | 0.9 | +0.8 | +800% | 4.6 | 19.6% | |||
*Foreign exchange rate（1USD) | ¥136.68-30.06.2022 | ¥144.99-30.06.2023 | assumptions:¥135 |
Torishima Pump Mfg. Co., Ltd. | 3 |
FY2023 1Q Financial Results
（Non-consolidated / Subsidiaries）
■ Non-consolidated | ■ Subsidiaries* | Billions of yen | ||||||
FY2022 | FY2023 | YOY | FY2022 | FY2023 | YOY | |||
1Q | 1Q | Amount | % | 1Q | 1Q | Amount | % | |
Sales | 8.5 | 13.3 | +4.8 | +56.5% | 4.0 | 5.7 | +1.7 | +42.5% |
Gross Operating Income | 1.9 | 3.1 | +1.2 | +63.2% | 1.3 | 2.0 | +0.7 | +53.8% |
(Gross profit margin) | (22.4%) | (23.3%) | (+0.9pt) | (32.5%) | (35.1%) | (+2.6pt) | ||
SG&A expense | 1.7 | 2.3 | +0.6 | +35.3% | 1.1 | 1.5 | +0.4 | +36.4% |
Operating income | 0.2 | 0.8 | +0.6 | +300% | 0.2 | 0.5 | +0.3 | +150% |
(Operating profit margin) | (2.4%) | (6.0%) | (+3.6pt) | (5.0%) | (8.8%) | (+3.3pt) | ||
- In addition to the recording of sales from large overseas projects, the yen's depreciation led to a significant increase in sales.
- Despite an increase in SG&A expenses such as personnel costs and sales commissions, operating income rose sharply due to the increased revenue (especially a large increase in overseas sales) and stable profit margins.
- Overall, sales activity completey returned to pre- Covid levels, with a significant increase in sales.
- Significant increase in profits due to large increase in sales and profit margins of service companies with high profit margins.
*Subsidiary financial results are before consolidation adjustments. Therefore, non-consolidated + subsidiary does not = consolidated results.
Torishima Pump Mfg. Co., Ltd. | 4 |
Orders received, Sales and Orders backlog by sector
Millions of yen | ||||||||
FY2022.1Q | FY2023.1Q | |||||||
Orders | Sales | Orders | Orders | Sales | Orders | |||
Received | Backlog | Received | Backlog | |||||
Public sector | 5,796 | 3,290 | 17,778 | 4,448 | 2,546 | 22,882 | ||
YOY rate | 29.3% | 14.2% | 6.0% | -23.2% | -22.6% | 28.7% | ||
Private sector | 2,543 | 2,083 | 8,656 | 2,677 | 3,016 | 10,160 | ||
YOY rate | -13.6% | -10.9% | 18.1% | 5.3% | 44.7% | 17.3% | ||
Overseas | 16,852 | 5,661 | 51,637 | 13,344 | 11,767 | 58,382 | ||
YOY rate | 118.5 % | -3.6% | 83.0% | -20.8 % | 107.8% | 13.0% | ||
Total | 25,192 | 11,036 | 78,072 | 20,471 | 17,331 | 91,426 | ||
YOY rate | 66.4% | -0.5% | 49.2% | -18.7% | 57.0% | 17.1% | ||
Torishima Pump Mfg. Co., Ltd. | 5 |