Consolidated Financial Results for the Three-Month Period of the Fiscal Year ending February 28, 2025
(Japanese GAAP)
July 12, 2024
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 to submit the Quarterly Financial Report: July 12, 2024
Scheduled date to commence dividend payment: -
Supplementary information for quarterly financial results: Available
Organization of quarterly financial results briefing: None
(Figures are rounded down to the nearest million yen)
1. Consolidated Financial Results for the Three-Month Period of Fiscal 2025 (From March 1, 2024 to May 31, 2024)
(1) Consolidated Results of Operations | (Percentage figures indicate changes from the same period of the previous year) | ||||||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||||||||||
owners of parent | |||||||||||||||||||||||
Three-Month Period of | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||||||
21,978 | 9.9 | 1,560 | 6.5 | 1,577 | 5.1 | 921 | 8.3 | ||||||||||||||||
Fiscal 2025 | |||||||||||||||||||||||
Three-Month Period of | 20,003 | 8.7 | 1,465 | 1.3 | 1,501 | 0.9 | 850 | (11.5) | |||||||||||||||
Fiscal 2024 | |||||||||||||||||||||||
(Note) Comprehensive income: Three-month period of fiscal 2025: ¥1,123 million [9.3%] | |||||||||||||||||||||||
Three-month period of fiscal 2024: ¥1,027 million [7.5%] | |||||||||||||||||||||||
Profit per share | Fully diluted profit per share | ||||||||||||||||||||||
Three-Month Period of | Yen | Yen | |||||||||||||||||||||
18.67 | - | ||||||||||||||||||||||
Fiscal 2025 | |||||||||||||||||||||||
Three-Month Period of | 16.97 | - | |||||||||||||||||||||
Fiscal 2024 | |||||||||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||||||||||
Three-Month Period of | Millions of yen | Millions of yen | % | ||||||||||||||||||||
140,993 | 98,904 | 69.4 | |||||||||||||||||||||
Fiscal 2025 | |||||||||||||||||||||||
Fiscal 2024 | 143,944 | 100,847 | 69.4 | ||||||||||||||||||||
(Reference) Equity: Three- | month period of fiscal 2025: ¥ | 97,912 million | |||||||||||||||||||||
Fiscal 2024: ¥99,880 million | |||||||||||||||||||||||
2. Dividends | |||||||||||||||||||||||
Cash dividends per share | |||||||||||||||||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | |||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||||||
Fiscal 2024 | - | 0.00 | - | 62.00 | 62.00 | ||||||||||||||||||
Fiscal 2025 | - | ||||||||||||||||||||||
Fiscal 2025 (Forecast) | 0.00 | - | 70.00 | 70.00 | |||||||||||||||||||
(Note) Revision to the dividend forecast from recently announced figures: None
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3. Forecast of Consolidated Financial Results for Fiscal 2025 (From March 1, 2024 to February 28, 2025)
(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 | 94,000 | 6.0 | 5,800 | 4.7 | 5,950 | 4.2 | 3,450 | 9.2 | 69.89 |
(Note) Revision | to the financial forecast from recently announced figures: None |
* Notes
-
Significant changes of subsidiaries during the period under review (affecting specific subsidiaries due to changes in scope of consolidation): None
Companies added to the scope: None
Companies removed from the scope: None - Adoption of special accounting treatment for preparing quarterly consolidated financial statements: Not applicable
- 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):
Three-month period of fiscal 2025: 52,021,297 shares
Fiscal 2024: | 52,021,297 shares |
- Number of treasury shares at the end of period: Three-month period of fiscal 2025: 2,659,816 shares
Fiscal 2024:2,659,758 shares
3) Average number of shares during the period: Three-month period of fiscal 2025: 49,361,525 shares Three-month period of fiscal 2024: 50,122,342 shares
- These Consolidated Financial Results are not subject to quarterly review 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.
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Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Millions of yen) | ||||
As of February 29, 2024 | As of May 31, 2024 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 18,338 | 17,217 | ||
Notes receivable - trade | 3,882 | 3,624 | ||
Electronically recorded monetary claims - operating | 3,925 | 3,933 | ||
Accounts receivable - trade | 12,457 | 11,464 | ||
Investments in leases | 1,349 | 2,536 | ||
Securities | 600 | 600 | ||
Merchandise and finished goods | 5,965 | 6,155 | ||
Work in process | 186 | 134 | ||
Raw materials and supplies | 182 | 196 | ||
Other | 1,050 | 1,266 | ||
Allowance for doubtful accounts | (72) | (91) | ||
Total current assets | 47,866 | 47,037 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Assets for rent, net | 12,911 | 12,321 | ||
Real estate for rent, net | 40,031 | 39,714 | ||
Buildings and structures, net | 8,883 | 9,127 | ||
Land | 11,564 | 11,564 | ||
Leased assets, net | 37 | 34 | ||
Other, net | 2,679 | 1,253 | ||
Total property, plant and equipment | 76,108 | 74,015 | ||
Intangible assets | ||||
Goodwill | 6,959 | 6,678 | ||
Customer-related intangible assets | 4,192 | 4,134 | ||
Other | 820 | 827 | ||
Total intangible assets | 11,973 | 11,640 | ||
Investments and other assets | ||||
Investment securities | 5,019 | 5,258 | ||
Retirement benefit asset | 1,014 | 1,033 | ||
Deferred tax assets | 180 | 207 | ||
Other | 2,371 | 2,398 | ||
Allowance for doubtful accounts | (588) | (598) | ||
Total investments and other assets | 7,996 | 8,299 | ||
Total non-current assets | 96,078 | 93,955 | ||
Total assets | 143,944 | 140,993 |
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(Millions of yen) | ||||
As of February 29, 2024 | As of May 31, 2024 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 6,770 | 6,494 | ||
Electronically recorded obligations - operating | 3,422 | 3,395 | ||
Short-term borrowings | 490 | 430 | ||
Current portion of long-term borrowings | 169 | 108 | ||
Lease liabilities | 29 | 28 | ||
Income taxes payable | 1,183 | 762 | ||
Provision for bonuses | 481 | 996 | ||
Provision for product warranties | 9 | 9 | ||
Provision for shareholder benefit program | 350 | 341 | ||
Other | 8,612 | 8,657 | ||
Total current liabilities | 21,519 | 21,223 | ||
Non-current liabilities | ||||
Long-term borrowings | 424 | 394 | ||
Lease liabilities | 78 | 72 | ||
Deferred tax liabilities | 2,426 | 2,457 | ||
Deferred tax liabilities for land revaluation | 435 | 435 | ||
Provision for share based compensation expenses for | 93 | 96 | ||
directors | ||||
Provision for retirement benefits for directors (and other | 51 | 53 | ||
officers) | ||||
Retirement benefit liability | 361 | 361 | ||
Long-term accounts payable - facilities | 13,709 | 13,018 | ||
Other | 3,996 | 3,974 | ||
Total non-current liabilities | 21,578 | 20,864 | ||
Total liabilities | 43,097 | 42,088 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 13,821 | 13,821 | ||
Capital surplus | 16,627 | 16,627 | ||
Retained earnings | 72,383 | 70,238 | ||
Treasury shares | (3,268) | (3,268) | ||
Total shareholders' equity | 99,563 | 97,418 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 2,041 | 2,208 | ||
Deferred gains or losses on hedges | 176 | 197 | ||
Revaluation reserve for land | (2,144) | (2,144) | ||
Remeasurements of defined benefit plans | 243 | 231 | ||
Total accumulated other comprehensive income | 317 | 494 | ||
Non-controlling interests | 966 | 991 | ||
Total net assets | 100,847 | 98,904 | ||
Total liabilities and net assets | 143,944 | 140,993 | ||
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(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
(Three-Month Period of Consolidated Fiscal Year)
(Millions of yen) | ||||
Three-Month Period of | Three-Month Period of | |||
Fiscal 2024 | Fiscal 2025 | |||
(From March 1, 2023 | (From March 1, 2024 | |||
to May 31, 2023) | to May 31, 2024) | |||
Net sales | 20,003 | 21,978 | ||
Cost of sales | 14,330 | 15,495 | ||
Gross profit | 5,672 | 6,482 | ||
Selling, general and administrative expenses | 4,207 | 4,921 | ||
Operating profit | 1,465 | 1,560 | ||
Non-operating income | ||||
Interest income | 0 | 0 | ||
Dividend income | 12 | 7 | ||
Purchase discounts | 8 | 8 | ||
Foreign exchange gains | 16 | 11 | ||
Gain on investments in investment partnerships | 11 | 14 | ||
Other | 32 | 26 | ||
Total non-operating income | 82 | 69 | ||
Non-operating expenses | ||||
Interest expenses | 44 | 48 | ||
Other | 2 | 4 | ||
Total non-operating expenses | 46 | 52 | ||
Ordinary profit | 1,501 | 1,577 | ||
Extraordinary income | ||||
Gain on sale of non-current assets | 1 | 2 | ||
Total extraordinary income | 1 | 2 | ||
Extraordinary losses | ||||
Loss on sale of non-current assets | 0 | - | ||
Loss on retirement of non-current assets | 5 | 2 | ||
Retirement benefits for directors (and other officers) | - | 18 | ||
Total extraordinary losses | 6 | 20 | ||
Profit before income taxes | 1,496 | 1,558 | ||
Income taxes - current | 743 | 697 | ||
Income taxes - deferred | (121) | (79) | ||
Total income taxes | 621 | 618 | ||
Profit | 874 | 940 | ||
Profit attributable to non-controlling interests | 23 | 19 | ||
Profit attributable to owners of parent | 850 | 921 | ||
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Quarterly Consolidated Statements of Comprehensive Income
(Millions of yen) | ||||||||
Three-Month Period of | Three-Month Period of | |||||||
Fiscal 2024 | Fiscal 2025 | |||||||
(From March 1, 2023 | (From March 1, 2024 | |||||||
to May 31, 2023) | to May 31, 2024) | |||||||
Profit | 874 | 940 | ||||||
Other comprehensive income | ||||||||
Valuation difference on available-for-sale securities | 176 | 167 | ||||||
Deferred gains or losses on hedges | (15) | 27 | ||||||
Remeasurements of defined benefit plans, net of tax | (8) | (12) | ||||||
Total other comprehensive income | 153 | 182 | ||||||
Comprehensive income | 1,027 | 1,123 | ||||||
Comprehensive income attributable to | ||||||||
Comprehensive income attributable to owners of | 1,006 | 1,098 | ||||||
parent | ||||||||
Comprehensive income attributable to non- | 20 | 24 | ||||||
controlling interests | ||||||||
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