Valqua Ltd.TSE: 7995

VALQUA posted summary of its 3rd Quarter, FY ended March 2022 results.

Jan 26, 2022 at 8:25 AM UTC · Issued by Valqua Ltd.

January 26, 2022

Summary of Consolidated Financial Results

for the Third Quarter of the Fiscal Year Ending March 31, 2022

VALQUA, LTD. (7995)

English translation from the original Japanese-language document

(All financial information has been prepared in accordance with accounting principles generally accepted in Japan)

Consolidated Balance Sheets

				(Millions of yen)
			As of March 31, 2021	As of December 31, 2021

Assets
Current assets
Cash and deposits			8,099	7,387
Notes and accounts receivable - trade	12,086	－
Notes and accounts receivable -	trade, and	－	13,713
contract assets

Electronically recorded monetary	claims -	2,272	3,179
operating

Merchandise and finished goods			3,384	4,023
Work in process			612	807
Raw materials and supplies			1,214	1,811
Other			2,043	2,153
Allowance for doubtful accounts			14	21
			△	△
Total current assets			29,698	33,054
Non-current assets
Property, plant and equipment
Buildings and structures, net			5,834	5,843
Land			4,002	4,004
Other, net			6,657	7,318
Total property, plant and equipment	16,494	17,166
Intangible assets
Other			1,425	1,525
Total intangible assets			1,425	1,525
Investments and other assets
Investment securities			3,204	4,399
Other			1,868	1,984
Allowance for doubtful accounts			0	0
			△	△
Total investments and other assets	5,072	6,384
Total non-current assets			22,993	25,076
Total assets			52,691	58,130

－ 1 －

					(Millions of yen)
				As of March 31, 2021	As of December 31, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade	5,423	5,477
Electronically recorded obligations - operating	－	952
Short-term borrowings				1,538	1,485
Current portion of long-term borrowings	109	85
Income taxes payable				660	550
Provision for bonuses				397	246
Provision for bonuses for directors (and other	31	45
officers)

Other				2,603	3,614
Total current liabilities				10,764	12,456
Non-current liabilities
Long-term borrowings				2,506	3,426
Retirement benefit liability			483	466
Other				1,663	1,941
Total non-current liabilities			4,653	5,834
Total liabilities				15,417	18,290
Net assets
Shareholders' equity
Share capital				13,957	13,957
Capital surplus				3,980	4,004
Retained earnings				17,968	19,500
Treasury shares				1,571	1,516
Total shareholders' equity			34,335	35,945
		△	△
Accumulated other comprehensive income
Valuation difference	on	available-for-sale	1,583	1,867
securities

Foreign currency translation adjustment	321	148
Remeasurements of defined benefit plans	△ 49	54
Total accumulated	other	comprehensive	1,311	2,070

income

Non-controlling interests				1,627	1,823
Total net assets				37,274	39,839
Total liabilities and net assets				52,691	58,130

－ 2 －

Consolidated Statements of Income

							(Millions of yen)
						Nine months ended	Nine months ended
						December 31, 2020	December 31, 2021

Net sales						32,748	38,689
Cost of sales						19,947	23,319
Gross profit						12,800	15,370
Selling, general and administrative expenses			10,555	10,733
Operating profit						2,245	4,637
Non-operating income
Interest income						2	4
Dividend income						43	43
Rental income from facilities					284	261
Share of profit	of entities	accounted	for	using	6	20
equity method

Foreign exchange gains					－	62
Other						138	90
Total non-operating income					475	482
Non-operating expenses
Interest expenses					51	52
Rental expenses on facilities					237	203
Foreign exchange losses					9	－
Other						29	31
Total non-operating expenses				328	288
Ordinary profit						2,393	4,831
Extraordinary income
Gain on sale of investment securities				916	－
Other						2	－
Total extraordinary income					919	－
Extraordinary losses
Loss on abandonment of non-current assets			11	10
Impairment losses					49	15
Loss on sale of investment securities				46	－
Compensation	expenses	for health	damage		34	19
caused by asbestos

Other						0	－
Total extraordinary losses					141	44
Profit before income taxes					3,170	4,786
Income taxes - current					824	1,173
Income taxes - deferred					146	194
Total income taxes						970	1,368
Profit						2,199	3,418
Profit attributable to non-controlling interests			9	119
Profit attributable to owners of parent				2,190	3,299

－ 3 －

Consolidated Statements of Comprehensive Income

			(Millions of yen)
		Nine months ended	Nine months ended
		December 31, 2020	December 31, 2021

Profit		2,199	3,418
Other comprehensive income
Valuation difference	on available-for-sale	487	283
securities

Foreign currency translation adjustment	232	525
Remeasurements of defined benefit plans, net of	△132
4
tax
Share of other comprehensive income of entities	1	2
accounted for using equity method

Total other comprehensive income	386	816
△
Comprehensive income		2,586	4,234
Comprehensive income attributable to
Comprehensive income attributable to owners of	2,580	4,057
parent

Comprehensive income	attributable to non-	5	176
controlling interests

－ 4 －

Appendix

1-a. Consolidated Results by Segment

		1-3Q, FY2021.3	1-3Q, FY2022.3
		Nine Months Ended	Nine Months Ended
Seal Products Business	Net Sales	23,125	25,695
Segment Profit	2,940	3,828

High Performance Plastics Products	Net Sales	7,678	10,986
Business	Segment Profit	-630	935
Silicon Wafer Reclaim and	Net Sales	1,945	2,007
Other Businesses	Segment Profit	-64	-126
			(Millions of yen)

1-b. Orders Received and Order Backlog by Segment

		1-3Q, FY2021.3	1-3Q, FY2022.3
		Nine Months Ended	Nine Months Ended
Seal Products Business	Orders Received	22,932	27,147
Order Backlog*	3,390	5,136

High Performance Plastics Products	Orders Received	7,432	12,729
Business	Order Backlog*	2,990	5,539
Silicon Wafer Reclaim and	Orders Received	1,958	2,169
Other Businesses	Order Backlog*	239	346
Total	Orders Received	32,324	42,046
Order Backlog*	6,620	11,022

(*)Order backlogs are as of the end of the period.			(Millions of yen)

2. Consolidated Net Sales by Region

3. Stock and Dividends Information

(1) Number of Shares Issued (Third Quarter of the FY2022.3)

Number of Shares Issued at the End of the Period (including Treasury Shares)	18,688,733
Number of Treasury Shares at the End of the Period		1,005,522
The Average Number of Shares Issued during the Period		17,668,503
(2) Per Share Data
	1-3Q, FY2021.3	1-3Q, FY2022.3
	Nine Months Ended	Nine Months Ended
Earnings Per Share	124.25	186.72
(3) Dividends		(Yen per share)

	FY2021.3	FY2022.3
Interim Dividend	45.00	50.00
Year-End Dividend	50.00	(Forecast) 55.00
Total Dividends for the Year	95.00	(Forecast) 105.00
		(Yen per share)

－ 5 －