TIDMMAW
RNS Number : 4665D
Maruwa Co Ld
28 October 2020
Translation
Notice: This document is an excerpt translation of the original Japanese
document and is only for reference purposes. In the event of any discrepancy
between this translated document and the original Japanese document, the
latter shall prevail.
Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2020
(Based on Japanese GAAP)
October 28, 2020
Company name: MARUWA CO., LTD.
Stock exchange Tokyo, Nagoya
listing:
Stock code: 5344 URL https://www.maruwa-g.com/
Representative: President and Representative Sei Kanbe
Director
Inquiries: Executive Officer Tamaki Nozoki TEL 0561-51-0839
Scheduled date to file Quarterly Securities November 9, 2020
Report:
Scheduled date to commence dividend December 4, 2020
payments:
Preparation of supplementary material No
on quarterly financial results:
Holding of quarterly financial results No
meeting:
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the six months ended
September 30, 2020 (from April 1, 2020 to September 30, 2020)
(1) Consolidated operating results Percentages indicate year-on-year changes
(cumulative)
Net sales Operating profit Ordinary profit Profit attributable
to owners of
parent
Millions % Millions % Millions % Millions %
of yen of yen of yen of yen
Six months ended September
30, 2020 19,533 (4.0) 4,685 12.9 4,644 11.2 3,154 10.0
Six months ended September
30, 2019 20,340 4.6 4,148 (6.1) 4,176 (12.1) 2,868 (11.3)
-------- ----- ---------- ------ --------- ------ ----------- --------
Earnings per share Diluted earnings
per share
Yen Yen
Six months ended September
30, 2020 255.80 -
Six months ended September
30, 2019 232.51 -
------------------ ----------------
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of Millions of %
yen yen
As of September 30, 2020 74,181 62,464 84.2
As of March 31, 2020 70,681 59,453 84.1
------------ ----------- ------------
2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total
--------------- --------------- --------------- --------------- -----
Yen Yen Yen Yen Yen
Year ended March 31,
2020 - 26.00 - 26.00 52.00
Year ending March 31,
2021 - 28.00
--------------- --------------- --------------- --------------- -----
Year ending March 31,
2021 (Forecast) - 28.00 56.00
--------------- --------------- --------------- --------------- -----
3. Forecast of consolidated financial results for the year
ending March 31, 2021 ( from April 1, 2020 to March 31, 2021)
Percentages indicate year-on-year changes
Net sales Operating profit Ordinary profit Profit attributable Earnings
to owners of per share
parent
Millions % Millions % Millions % Millions % Yen
of yen of yen of yen of yen
Full year 36,500 (11.5) 7,900 (15.5) 7,900 (17.0) 5,450 (7.5) 441.94
-------- ------ ---------- ------ --------- ------ ------------ ------- ----------
4. Notes
(1) Changes in significant subsidiaries during the six No
months ended September 30, 2020
(changes in specified subsidiaries resulting in the
change in scope of consolidation):
(2) Application of special accounting methods for preparing No
quarterly consolidated financial statements:
(3) Changes in accounting policies, changes in accounting
estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to No
accounting standards and other regulations:
Changes in accounting policies due to other reasons: No
Changes in accounting estimates: No
Restatement of prior period financial statements: No
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period
(including treasury shares)
As of September 30,
2020 12,372,000 shares As of March 31, 2020 12,372,000 shares
--------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of September 30,
2020 38,198 shares As of March 31, 2020 40,163 shares
--------------------- ------ --------------------- ------
Average number of shares during the period (cumulative from the
beginning of the fiscal year)
Six months ended September Six months ended September
30, 2020 12,332,859 shares 30, 2019 12,334,929 shares
---------------------------- ---------- --------------------------- ----------
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of September
2020 30, 2020
------------------------------------------------------ --------------- ------------------
Assets
Current assets
Cash and deposits 29,334,349 32,791,077
Notes and accounts receivable - trade 9,542,199 8,555,814
Electronically recorded monetary
claims - operating 1,295,434 1,201,831
Merchandise and finished goods 2,061,801 1,785,452
Work in process 2,393,622 2,475,917
Raw materials and supplies 2,756,758 2,511,785
Other 1,757,311 1,365,837
Allowance for doubtful accounts (8,180) (7,959)
Total current assets 49,133,297 50,679,756
--------------- ------------------
Non-current assets
Property, plant and equipment
Buildings and structures 12,650,214 12,724,294
Accumulated depreciation (6,505,584) (6,695,078)
Buildings and structures, net 6,144,629 6,029,215
--------------- ------------------
Machinery, equipment and vehicles 20,998,043 21,274,287
Accumulated depreciation (16,567,320) (16,750,753)
Machinery, equipment and vehicles,
net 4,430,722 4,523,534
--------------- ------------------
Land 4,421,234 4,487,945
Construction in progress 3,445,592 5,737,976
Other 3,499,670 3,618,608
Accumulated depreciation (2,898,143) (3,050,865)
Other, net 601,527 567,742
--------------- ------------------
Total property, plant and equipment 19,043,706 21,346,414
--------------- ------------------
Intangible assets
Goodwill 195,975 169,251
Other 254,672 241,947
Total intangible assets 450,648 411,199
--------------- ------------------
Investments and other assets 2,053,978 1,743,712
Total non-current assets 21,548,333 23,501,326
--------------- ------------------
Total assets 70,681,631 74,181,083
--------------- ------------------
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of September
2020 30, 2020
------------------------------------------------------ --------------- ------------------
Liabilities
Current liabilities
Notes and accounts payable - trade 1,898,714 2,148,717
Electronically recorded obligations
- operating 1,619,355 1,779,811
Short-term borrowings 900,000 900,000
Current portion of long-term borrowings - 266,624
Income taxes payable 827,864 1,371,273
Provision for bonuses 608,949 647,419
Provision for bonuses for directors
(and other officers) 63,000 5,500
Other 3,382,929 2,369,151
Total current liabilities 9,300,813 9,488,497
--------------- ------------------
Non-current liabilities
Long-term borrowings 1,200,000 1,733,376
Deferred tax liabilities 351,419 151,897
Other 375,829 342,771
Total non-current liabilities 1,927,248 2,228,044
--------------- ------------------
Total liabilities 11,228,062 11,716,542
--------------- ------------------
Net assets
Shareholders' equity
Share capital 8,646,720 8,646,720
Capital surplus 11,992,492 11,997,067
Retained earnings 40,526,723 43,360,875
Treasury shares (239,524) (228,163)
Total shareholders' equity 60,926,411 63,776,500
--------------- ------------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 70,521 131,158
Foreign currency translation adjustment (1,543,364) (1,443,116)
Total accumulated other comprehensive
income (1,472,842) (1,311,958)
--------------- ------------------
Total net assets 59,453,569 62,464,541
--------------- ------------------
Total liabilities and net assets 70,681,631 74,181,083
--------------- ------------------
Consolidated statements of income (cumulative) and consolidated
statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen)
-------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2019 September 30, 2020
-------------------------------------------------- ------------------- -------------------
Net sales 20,340,966 19,533,722
Cost of sales 12,124,683 10,942,900
Gross profit 8,216,282 8,590,822
------------------- -------------------
Selling, general and administrative
expenses 4,067,286 3,905,268
Operating profit 4,148,996 4,685,553
------------------- -------------------
Non-operating income
Interest income 28,652 26,950
Rental income 47,906 44,858
Other 20,453 33,735
Total non-operating income 97,011 105,545
------------------- -------------------
Non-operating expenses
Interest expenses - 1,542
Foreign exchange losses 31,667 101,077
Rent expenses on real estate for
investments 26,879 22,958
Other 11,018 21,458
Total non-operating expenses 69,565 147,036
------------------- -------------------
Ordinary profit 4,176,442 4,644,061
------------------- -------------------
Extraordinary income
Gain on sales of non-current assets 1,059 1,276
Gain on liquidation of subsidiaries - 11,887
Total extraordinary income 1,059 13,163
------------------- -------------------
Extraordinary losses
Loss on sales and retirement of non-current
assets 28,485 20,583
Loss on valuation of investment securities 27,510 -
Loss related to infectious disease - 67,802
Total extraordinary losses 55,995 88,385
------------------- -------------------
Profit before income taxes 4,121,506 4,568,839
------------------- -------------------
Income taxes - current 1,367,200 1,269,136
Income taxes - deferred (113,743) 144,923
Total income taxes 1,253,457 1,414,060
------------------- -------------------
Profit 2,868,049 3,154,779
------------------- -------------------
Profit attributable to owners of
parent 2,868,049 3,154,779
------------------- -------------------
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2019 September 30, 2020
------------------------------------------------- ------------------- -------------------
Profit 2,868,049 3,154,779
Other comprehensive income
Valuation difference on available-for-sale
securities 14,422 60,636
Foreign currency translation adjustment (557,720) 100,247
Total other comprehensive income (543,297) 160,884
------------------- -------------------
Comprehensive income 2,324,752 3,315,664
------------------- -------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 2,324,752 3,315,664
Consolidated statements of cash flows
(Thousands of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2019 September 30, 2020
------------------------------------------------- ------------------- -------------------
Cash flows from operating activities
Profit before income taxes 4,121,506 4,568,839
Depreciation 1,140,487 1,003,185
Amortization of goodwill 26,723 26,723
Increase (decrease) in allowance
for doubtful accounts 1,114 4,379
Loss (gain) on liquidation of subsidiaries - (11,887)
Loss (gain) on valuation of investment
securities 27,510 -
Loss (gain) on sales and retirement
of non-current assets 27,425 19,307
Interest and dividend income (31,607) (29,448)
Interest expenses - 1,542
Foreign exchange losses (gains) (5,929) 577
Decrease (increase) in trade receivables 1,620,188 1,093,242
Decrease (increase) in inventories 1,010,896 444,997
Increase (decrease) in trade payables (823,121) 204,882
Other, net 207,952 (497,803)
Subtotal 7,323,147 6,828,538
------------------- -------------------
Interest and dividends received 31,608 29,448
Interest paid - (1,542)
Income taxes (paid) refund (1,429,303) (536,612)
Net cash provided by (used in) operating
activities 5,925,452 6,319,832
------------------- -------------------
Cash flows from investing activities
Net decrease (increase) in time deposits (1,585) -
Purchase of property, plant and equipment (2,081,015) (3,401,297)
Proceeds from sales of property,
plant and equipment 1,038 3,801
Purchase of investment securities (2,034) (1,643)
Proceeds from liquidation of subsidiaries - 34,582
Purchase of intangible assets (29,023) (8,428)
Other, net 7,435 (18,846)
Net cash provided by (used in) investing
activities (2,105,184) (3,391,833)
------------------- -------------------
Cash flows from financing activities
Proceeds from long-term borrowings - 800,000
Purchase of treasury shares (62,145) (1,167)
Dividends paid (296,233) (320,627)
Net cash provided by (used in) financing
activities (358,379) 478,204
------------------- -------------------
Effect of exchange rate change on
cash and cash equivalents (145,095) 48,150
Net increase (decrease) in cash and
cash equivalents 3,316,793 3,454,353
------------------- -------------------
Cash and cash equivalents at beginning
of period 22,448,629 29,114,590
Cash and cash equivalents at end
of period 25,765,423 32,568,944
------------------- -------------------
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