Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results
for the Fiscal Year Ended February 28, 2025
(Japanese GAAP)
April 11, 2025
Company Name: Wakita & Co., LTD.
Code Number: 8125
(URL: https://www.wakita.co.jp/)
Stock Exchange Listing: Tokyo Stock Exchange Prime Market
Representative: Teiji Wakita, President and Representative Director
Contact: Atsuhiko Nariyama, Director, General Manager of General Affairs Division
Phone: 06-6449-1901
Scheduled date of Ordinary General Shareholders' Meeting: May 22, 2025
Scheduled date to commence dividend payment: May 23, 2025
Scheduled date to submit the Securities Report: May 26, 2025
Preparation of supplementary material on financial results: Available
Holding of financial results briefing: Scheduled (for institutional investors)
(Figures are rounded down to the nearest million yen)
1. Consolidated Financial Results for the Fiscal Year Ended February 28, 2025 (From March 1, 2024 to February 28, 2025)
(1) Consolidated Results of Operations | (Percentage figures indicate changes from the previous year) | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % |
February 28, 2025 | 92,321 | 4.1 | 6,390 | 15.3 | 6,506 | 13.9 | 3,912 | 23.9 |
February 29, 2024 | 88,654 | 12.4 | 5,541 | (3.9) | 5,712 | (2.9) | 3,158 | (19.0) |
(Note) Comprehensive income: For the fiscal year ended February 28, 2025: ¥3,898 million [(8.4)%]
For the fiscal year ended February 29, 2024: ¥4,255 million [7.3%] | |||||
Profit per share | Fully diluted profit | Rate of return on | Ordinary profit to | Operating profit to | |
per share | equity | total assets | net sales | ||
Fiscal year ended | Yen | Yen | % | % | % |
February 28, 2025 | 79.27 | - | 3.9 | 4.5 | 6.9 |
February 29, 2024 | 63.45 | - | 3.2 | 4.0 | 6.3 |
(Reference) Equity in earnings (losses) of affiliated companies: For the fiscal year ended February 28, 2025: ¥ - million For the fiscal year ended February 29, 2024: ¥ - million
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | |||
As of | Millions of yen | Millions of yen | % | Yen | ||
February 28, 2025 | 146,019 | 101,921 | 68.9 | 2,038.50 | ||
February 29, 2024 | 143,944 | 100,847 | 69.4 | 2,023.45 | ||
(Reference) Equity: | As of February 28, 2025: ¥100,593 million | |||||
As of February 29, 2024: ¥99,880 million |
(3) Consolidated Cash Flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |
equivalents at the end of | ||||
operating activities | investing activities | financing activities | ||
the period | ||||
Fiscal year ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
February 28, 2025 | 15,611 | (2,070) | (9,693) | 22,783 |
February 29, 2024 | 12,775 | (6,773) | (10,468) | 18,938 |
1
2. Dividends
Cash dividends per share | |||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | |
Fiscal year ended | Yen | Yen | Yen | Yen | Yen |
February 29, 2024 | - | 0.00 | - | 62.00 | 62.00 |
February 28, 2025 | - | 0.00 | - | 100.00 | 100.00 |
Fiscal year ending | |||||
February 28, 2026 | - | 0.00 | - | 100.00 | 100.00 |
(Forecast) |
Total dividends
paid (total)
Millions of yen
3,066
4,945
Payout ratio | Dividends to | |
net assets | ||
(consolidated) | ||
(consolidated) | ||
% | % | |
97.7 | 3.1 | |
126.2 | 4.9 | |
- | ||
3. Forecast of Consolidated Financial Results for the Fiscal Year Ending February 28, 2026 (From March 1, 2025 to February 28, 2026)
(Percentage figures indicate changes from the previous year)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Profit per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 100,000 | 8.3 | 6,000 | (6.1) | 6,150 | (5.5) | 3,650 | (6.7) | 73.97 |
* Notes
-
Significant changes in the scope of consolidation during the period: Yes
Companies added to the scope: 1 company; NITTO RENTAL CO., LTD.
Companies removed from the scope: None - Changes in accounting policies, changes in accounting estimates and restatements
- Changes in accounting policies due to the revision of accounting standards, etc.: Not applicable
- Any changes in accounting policies other than 1) above: Not applicable
- Changes in accounting estimates: Not applicable
- Restatements: Not applicable
- Number of shares issued (common shares)
- Number of shares issued at the end of period (including treasury shares):
As of February 28, 2025: 52,021,297 shares
As of February 29, 2024: 52,021,297 shares
-
Number of treasury shares at the end of period: As of February 28, 2025: 2,674,673 shares
As of February 29, 2024: 2,659,758 shares - Average number of shares during the period:
Fiscal year ended February 28, 2025: 49,362,224 shares
Fiscal year ended February 29, 2024: 49,782,729 shares
2
(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended February 28, 2025 (From March 1, 2024 to February 28, 2025)
(1) Non-consolidated Results of Operations | (Percentage figures indicate changes from the previous year) | |||||||
Net sales | Operating profit | Ordinary profit | Profit | |||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % |
February 28, 2025 | 58,707 | 0.8 | 4,739 | 5.4 | 5,050 | 4.5 | 3,341 | 5.9 |
February 29, 2024 | 58,267 | 8.5 | 4,496 | (5.6) | 4,834 | (5.6) | 3,156 | (19.4) |
Profit per share | Fully diluted profit | |||||||
per share | ||||||||
Fiscal year ended | Yen | Yen | ||||||
February 28, 2025 | 67.70 | - | ||||||
February 29, 2024 | 63.40 | - | ||||||
(2) Non-consolidated Financial Position | ||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||
As of | Millions of yen | Millions of yen | % | Yen | ||||
February 28, 2025 | 131,128 | 99,146 | 75.6 | 2,009.18 | ||||
February 29, 2024 | 130,600 | 98,992 | 75.8 | 2,005.46 |
(Reference) Equity: As of February 28, 2025: ¥99,146 million As of February 29, 2024: ¥98,992 million
2. Forecast of Non-consolidated Financial Results for the Fiscal Year Ending February 28, 2026 (From March 1, 2025 to February 28, 2026)
(Percentage figures indicate changes from the previous year)
Net sales | Ordinary profit | Profit | Profit per share | ||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 62,630 | 6.7 | 5,180 | 2.6 | 3,460 | 3.5 | 70.12 |
*These Consolidated Financial Results are not subject to audits by certified public accountants or an auditing firm.
*Explanation for the appropriate use of performance forecasts and other special notes:
The performance forecasts and other descriptions on future events presented in this material are based on information that was available at the time of preparation of this material and based on certain assumptions considered to be reasonable, and not intended to guarantee their achievement. The actual performance, etc. may differ materially from these forecasts due to various factors.
3
Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen) | |||
As of February 29, 2024 | As of February 28, 2025 | ||
Assets | |||
Current assets | |||
Cash and deposits | 18,338 | 21,183 | |
Notes receivable - trade | 3,882 | 2,900 | |
Electronically recorded monetary claims - operating | 3,925 | 4,487 | |
Accounts receivable - trade | 12,457 | 11,717 | |
Investments in leases | 1,349 | 2,519 | |
Securities | 600 | 1,600 | |
Merchandise and finished goods | 5,965 | 4,407 | |
Work in process | 186 | 103 | |
Raw materials and supplies | 182 | 186 | |
Other | 1,050 | 994 | |
Allowance for doubtful accounts | (72) | (65) | |
Total current assets | 47,866 | 50,036 | |
Non-current assets | |||
Property, plant and equipment | |||
Assets for rent | 45,934 | 52,954 | |
Accumulated depreciation | (33,022) | (38,122) | |
Assets for rent, net | 12,911 | 14,831 | |
Real estate for rent | |||
Buildings and accompanying facilities for rent | 32,445 | 32,832 | |
Accumulated depreciation | (11,930) | (13,328) | |
Buildings and accompanying facilities for rent, net | 20,515 | 19,503 | |
Land for rent | 19,515 | 19,525 | |
Buildings and structures | 16,921 | 18,984 | |
Accumulated depreciation | (8,037) | (8,574) | |
Buildings and structures, net | 8,883 | 10,410 | |
Land | 11,564 | 11,961 | |
Leased assets | 97 | 113 | |
Accumulated depreciation | (59) | (62) | |
Leased assets, net | 37 | 50 | |
Other | 5,190 | 3,832 | |
Accumulated depreciation | (2,511) | (3,004) | |
Other, net | 2,679 | 828 | |
Total property, plant and equipment | 76,108 | 77,112 | |
Intangible assets | |||
Goodwill | 6,959 | 5,835 | |
Customer-related intangible assets | 4,192 | 3,959 | |
Other | 820 | 907 | |
Total intangible assets | 11,973 | 10,701 | |
4
(Millions of yen) | ||
As of February 29, 2024 | As of February 28, 2025 | |
Investments and other assets | ||
Investment securities | 5,019 | 4,899 |
Retirement benefit asset | 1,014 | 1,188 |
Deferred tax assets | 180 | 242 |
Other | 2,371 | 2,475 |
Allowance for doubtful accounts | (588) | (636) |
Total investments and other assets | 7,996 | 8,168 |
Total non-current assets | 96,078 | 95,982 |
Total assets | 143,944 | 146,019 |
5
(Millions of yen)
As of February 29, 2024 As of February 28, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade Electronically recorded obligations - operating Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for product warranties
Provision for shareholder benefit program
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for share based compensation expenses for directors
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Long-term accounts payable - facilities
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 Deferred gains or losses on hedges
Revaluation reserve for land
Remeasurements of defined benefit plans
6,770 | 6,561 |
3,422 | 3,626 |
490 | 168 |
169 | 152 |
29 | 30 |
1,183 | 1,382 |
481 | 556 |
9 | 21 |
350 | 386 |
8,612 | 9,319 |
21,519 | 22,206 |
424 | 403 |
78 | 77 |
2,426 | 3,003 |
435 | 435 |
93 | 81 |
51 | 156 |
361 | 415 |
13,709 | 13,386 |
3,996 | 3,931 |
21,578 | 21,891 |
43,097 | 44,097 |
13,821 | 13,821 |
16,627 | 16,627 |
72,383 | 73,229 |
(3,268) | (3,304) |
99,563 | 100,373 |
2,041 | 1,954 |
176 | 153 |
(2,144) | (2,144) |
243 | 255 |
Total accumulated other comprehensive income | 317 | 219 |
Non-controlling interests | 966 | 1,328 |
Total net assets | 100,847 | 101,921 |
Total liabilities and net assets | 143,944 | 146,019 |
6
(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Millions of yen) | |||
For the fiscal year ended | For the fiscal year ended | ||
February 29, 2024 | February 28, 2025 | ||
(From March 1, 2023 | (From March 1, 2024 | ||
to February 29, 2024) | to February 28, 2025) | ||
Net sales | 88,654 | 92,321 | |
Cost of sales | 63,791 | 65,423 | |
Gross profit | 24,863 | 26,897 | |
Selling, general and administrative expenses | 19,321 | 20,506 | |
Operating profit | 5,541 | 6,390 | |
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Gain on investments in investment partnerships Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on bargain purchase
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Retirement benefits for directors (and other officers) Other
1 | 10 | |||
132 | 151 | |||
40 | 36 | |||
54 | - | |||
30 | 29 | |||
119 | 127 | |||
379 | 354 | |||
190 | 203 | |||
- | 7 | |||
17 | 26 | |||
208 | 238 | |||
5,712 | 6,506 | |||
14 | 1 | |||
- | 57 | |||
- | 1 | |||
14 | 60 | |||
160 | 56 | |||
- | 18 | |||
1 | 0 |
Total extraordinary losses | 162 | 75 | |
Profit before income taxes | 5,565 | 6,492 | |
Income taxes - current | 2,368 | 2,468 | |
Income taxes - deferred | (66) | 22 | |
Total income taxes | 2,301 | 2,490 | |
Profit | 3,263 | 4,002 | |
Profit attributable to non-controlling interests | 104 | 89 | |
Profit attributable to owners of parent | 3,158 | 3,912 |
7
Consolidated Statements of Comprehensive Income
(Millions of yen) | ||
For the fiscal year ended | For the fiscal year ended | |
February 29, 2024 | February 28, 2025 | |
(From March 1, 2023 | (From March 1, 2024 | |
to February 29, 2024) | to February 28, 2025) | |
Profit | 3,263 | 4,002 |
Other comprehensive income |
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Comprehensive income attributable to owners of parentComprehensive income attributable to non-controllinginterests
955 | (86) | |||
(11) | (28) | |||
48 | 11 | |||
991 | (103) | |||
4,255 | 3,898 | |||
4,152 | 3,815 | |||
102 | 83 |
8
(3) Consolidated Statements of Changes in Net Assets
For the fiscal year ended February 29, 2024 (From March 1, 2023 to February 29, 2024)
(Millions of yen)
Shareholders' equity | ||||
Share capital | Capital surplus | Retained earnings | ||
Balance at beginning of | 13,821 | 16,627 | 71,092 | |
period | ||||
Changes during period | ||||
Dividends of surplus | (1,909) | |||
Profit attributable to | 3,158 | |||
owners of parent | ||||
Purchase of treasury | ||||
shares | ||||
Disposal of treasury | ||||
shares | ||||
Change in scope of | 41 | |||
consolidation | ||||
Net changes in items | ||||
other than shareholders' | ||||
equity | ||||
Total changes during | ― | ― | 1,291 | |
period | ||||
Balance at end of period | 13,821 | 16,627 | 72,383 | |
Treasury shares
(2,154)
(1,143)
29
(1,114)
(3,268)
Total shareholders'
equity
99,386
(1,909)
3,158
(1,143)
29
41
176
99,563
Accumulated other comprehensive income | |||||||
Valuation | Total | Non-controlling | Total net assets | ||||
Remeasurements | accumulated | ||||||
difference on | Deferred gains or | Revaluation | interests | ||||
of defined | other | ||||||
available-for-sale | losses on hedges | reserve for land | |||||
benefit plans | comprehensive | ||||||
securities | |||||||
income | |||||||
Balance at beginning of | 1,086 | 185 | (2,144) | 195 | (676) | 864 | 99,574 |
period | |||||||
Changes during period | |||||||
Dividends of surplus | (1,909) | ||||||
Profit attributable to | 3,158 | ||||||
owners of parent | |||||||
Purchase of treasury | (1,143) | ||||||
shares | |||||||
Disposal of treasury | 29 | ||||||
shares | |||||||
Change in scope of | 41 | ||||||
consolidation | |||||||
Net changes in items | |||||||
other than shareholders' | 955 | (9) | ― | 48 | 994 | 102 | 1,096 |
equity | |||||||
Total changes during | 955 | (9) | ― | 48 | 994 | 102 | 1,273 |
period | |||||||
Balance at end of period | 2,041 | 176 | (2,144) | 243 | 317 | 966 | 100,847 |
9
For the fiscal year ended February 28, 2025 (From March 1, 2024 to February 28, 2025)
(Millions of yen)
Shareholders' equity | ||||
Share capital | Capital surplus | Retained earnings | ||
Balance at beginning of | 13,821 | 16,627 | 72,383 | |
period | ||||
Changes during period | ||||
Dividends of surplus | (3,066) | |||
Profit attributable to | 3,912 | |||
owners of parent | ||||
Purchase of treasury | ||||
shares | ||||
Disposal of treasury | ||||
shares | ||||
Change in scope of | ||||
consolidation | ||||
Net changes in items | ||||
other than shareholders' | ||||
equity | ||||
Total changes during | ― | ― | 846 | |
period | ||||
Balance at end of period | 13,821 | 16,627 | 73,229 | |
Treasury shares
(3,268)
(65)
29
(36)
(3,304)
Total shareholders'
equity
99,563
(3,066)
3,912
(65)
29
―
810
100,373
Accumulated other comprehensive income | |||||||
Valuation | Total | Non-controlling | Total net assets | ||||
Deferred gains or | Revaluation | Remeasurements | accumulated | ||||
difference on | interests | ||||||
of defined | other | ||||||
available-for-sale | losses on hedges | reserve for land | |||||
benefit plans | comprehensive | ||||||
securities | |||||||
income | |||||||
Balance at beginning of | 2,041 | 176 | (2,144) | 243 | 317 | 966 | 100,847 |
period | |||||||
Changes during period | |||||||
Dividends of surplus | (3,066) | ||||||
Profit attributable to | 3,912 | ||||||
owners of parent | |||||||
Purchase of treasury | (65) | ||||||
shares | |||||||
Disposal of treasury | 29 | ||||||
shares | |||||||
Change in scope of | ― | ||||||
consolidation | |||||||
Net changes in items | |||||||
other than shareholders' | (86) | (22) | ― | 11 | (97) | 361 | 263 |
equity | |||||||
Total changes during | (86) | (22) | ― | 11 | (97) | 361 | 1,074 |
period | |||||||
Balance at end of period | 1,954 | 153 | (2,144) | 255 | 219 | 1,328 | 101,921 |
10