TIDMMAW
RNS Number : 2472X
Maruwa Co Ld
26 April 2019
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 Year Ended March 31, 2019
(Based on Japanese GAAP)
April 26, 2019
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: Director, General Manager Tamaki Nozoki TEL 0561-51-0839
of Administrative Division
Scheduled date of ordinary general June 25, 2019
meeting of shareholders:
Scheduled date to file Securities June 26, 2019
Report:
Scheduled date to commence dividend June 26, 2019
payments:
Preparation of supplementary material No
on financial results:
Holding of financial results meeting: No
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the year ended March 31,
2019 (from April 1, 2018 to March 31, 2019)
(1) Consolidated operating results Percentages indicate year-on-year changes
Net sales Operating profit Ordinary profit Profit attributable
to owners of
parent
Millions % Millions % Millions % Millions %
of yen of yen of yen of yen
Year ended March 31,
2019 41,193 7.0 9,556 4.2 9,924 11.9 6,770 22.1
Year ended March 31,
2018 38,513 19.7 9,174 85.2 8,866 78.1 5,544 94.5
-------- ---- ----------- ----- ---------- ----- ------------- ------
Earnings per Diluted earnings Profit attributable Ordinary profit/total Operating
share per share to owners assets profit/net
of parent/equity sales
---------------- ------------------- ---------------------
Yen Yen % % %
Year ended March 31,
2019 547.87 - 13.0 16.1 23.2
Year ended March 31,
2018 448.44 - 12.0 16.2 23.8
------------ ---------------- ------------------- --------------------- -----------
(2) Consolidated financial position
Total assets Net assets Equity ratio Net assets per
share
Millions of Millions of % Yen
yen yen
As of March 31, 2019 64,627 54,954 85.0 4,452.25
As of March 31, 2018 58,514 49,029 83.8 3,966.05
------------ ----------- ------------ --------------
(3) Consolidated cash flows
Cash flows from Cash flows from Cash flows from Cash and cash
operating activities investing activities financing activities equivalents
at end of period
Millions of Millions of Millions of Millions of
yen yen yen yen
Year ended March 31,
2019 6,967 (5,691) (694) 22,448
Year ended March 31,
2018 7,544 (2,851) (668) 21,799
---------------------- ---------------------- ---------------------- ------------------
2. Cash dividends
Annual dividends per share Total Dividend Ratio
cash payout of dividends
dividends ratio to net
(Total) (Consolidated) assets
(Consolidated)
1st 2nd 3rd Fiscal Total
quarter-end quarter-end quarter-end year-end
-----------
Yen Yen Yen Yen Yen Millions % %
of yen
Year ended March
31,
2018 - 22.00 - 22.00 44.00 544 9.8 1.2
Year ended March
31,
2019 - 24.00 - 24.00 48.00 592 8.8 1.1
----------- ----------- ----------- -------- ----- --------- -------------- --------------
Year ending March
31, 2020 - 26.00 - 26.00 52.00 12.1
(Forecast)
----------- ----------- ----------- -------- ----- --------- -------------- --------------
3. Forecast of consolidated financial results for the year
ending March 31, 2020 (from April 1, 2019 to March 31, 2020)
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
Six months ending
September 30,
2019 18,000 (7.5) 3,450 (21.9) 3,450 (27.4) 2,350 (27.3) 190.39
Full year 38,000 (7.8) 7,800 (18.4) 7,800 (21.4) 5,300 (21.7) 429.39
-------- ----- ---------- ------ --------- ------ ----------- -------- ----------
4. Notes
(1) Changes in significant subsidiaries during the year No
ended March 31, 2019
(changes in specified subsidiaries resulting in the
change in scope of consolidation):
(2) 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
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period
(including treasury shares)
As of March 31, 2019 12,372,000 shares As of March 31, 2018 12,372,000 shares
---------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of March 31, 2019 28,920 shares As of March 31, 2018 9,702 shares
---------------------- ------ --------------------- -----
Average number of shares during the period
Year ended March 31, Year ended March 31,
2019 12,356,998 shares 2018 12,363,727 shares
---------------------- ---------- --------------------- ----------
Consolidated financial statements
Consolidated balance sheets
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2018 2019
------------------------------------------------------ --------------- ------------------
Assets
Current assets
Cash and deposits 21,994,568 22,627,403
Notes and accounts receivable - trade 9,790,135 10,266,096
Electronically recorded monetary
claims - operating 1,047,980 1,476,219
Merchandise and finished goods 2,220,883 3,161,672
Work in process 1,817,145 2,337,293
Raw materials and supplies 3,630,476 4,277,629
Other 1,171,284 1,430,685
Allowance for doubtful accounts (1,670) (1,920)
Total current assets 41,670,803 45,575,080
--------------- ------------------
Non-current assets
Property, plant and equipment
Buildings and structures 11,159,776 12,583,053
Accumulated depreciation (6,133,121) (6,512,559)
Buildings and structures, net 5,026,654 6,070,494
--------------- ------------------
Machinery, equipment and vehicles 19,595,623 20,957,313
Accumulated depreciation (15,542,570) (16,322,648)
Machinery, equipment and vehicles,
net 4,053,052 4,634,664
--------------- ------------------
Land 3,943,218 4,003,430
Construction in progress 389,265 813,830
Other 4,163,793 4,615,622
Accumulated depreciation (3,483,672) (3,790,482)
Other, net 680,121 825,140
--------------- ------------------
Total property, plant and equipment 14,092,312 16,347,560
--------------- ------------------
Intangible assets
Goodwill - 249,423
Other 274,885 283,871
Total intangible assets 274,885 533,294
--------------- ------------------
Investments and other assets
Investment securities 404,300 340,439
Deferred tax assets 582,986 644,164
Real estate for investment 1,002,008 997,257
Buildings and structures 681,619 695,399
Accumulated depreciation (378,919) (396,012)
Buildings and structures, net 302,699 299,386
--------------- ------------------
Land 688,832 688,832
Other 42,204 42,067
Accumulated depreciation (31,728) (33,029)
Other, net 10,476 9,037
--------------- ------------------
Other 500,715 201,241
Allowance for doubtful accounts (13,337) (11,516)
Total investments and other assets 2,476,673 2,171,586
--------------- ------------------
Total non-current assets 16,843,870 19,052,442
--------------- ------------------
Total assets 58,514,674 64,627,522
--------------- ------------------
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2018 2019
------------------------------------------------------ --------------- ------------------
Liabilities
Current liabilities
Notes and accounts payable - trade 2,428,784 2,827,288
Electronically recorded obligations
- operating 1,456,612 1,704,169
Income taxes payable 2,061,684 1,590,551
Provision for bonuses 542,637 627,985
Provision for bonuses for directors
(and other officers) 63,000 63,000
Provision for environmental measures 3,436 -
Other 2,079,222 2,047,119
Total current liabilities 8,635,378 8,860,114
--------------- ------------------
Non-current liabilities
Deferred tax liabilities 449,309 452,364
Retirement benefit liability 82,126 -
Other 318,304 360,543
Total non-current liabilities 849,740 812,907
--------------- ------------------
Total liabilities 9,485,118 9,673,021
--------------- ------------------
Net assets
Shareholders' equity
Capital stock 8,646,720 8,646,720
Capital surplus 11,996,407 11,994,350
Retained earnings 29,048,238 35,249,658
Treasury shares (77,131) (188,864)
Total shareholders' equity 49,614,235 55,701,864
--------------- ------------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 166,404 117,622
Foreign currency translation adjustment (751,083) (864,986)
Total accumulated other comprehensive
income (584,678) (747,363)
--------------- ------------------
Total net assets 49,029,556 54,954,500
--------------- ------------------
Total liabilities and net assets 58,514,674 64,627,522
--------------- ------------------
Consolidated statements of income and consolidated statements of
comprehensive income
Consolidated statements of income
(Thousands of yen)
-------------------------------------------------- ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2018 March 31, 2019
-------------------------------------------------- ----------------- ------------------
Net sales 38,513,051 41,193,338
Cost of sales 21,928,997 23,264,386
Gross profit 16,584,054 17,928,952
----------------- ------------------
Selling, general and administrative
expenses 7,410,006 8,372,881
Operating profit 9,174,047 9,556,071
----------------- ------------------
Non-operating income
Interest income 31,913 35,322
Rent income 74,663 79,282
Foreign exchange gains - 219,615
Other 71,535 97,381
Total non-operating income 178,112 431,602
----------------- ------------------
Non-operating expenses
Interest expenses 7 -
Foreign exchange losses 381,723 -
Rent expenses on real estate for
investments 48,668 48,361
Other 55,198 14,927
Total non-operating expenses 485,599 63,289
----------------- ------------------
Ordinary profit 8,866,561 9,924,383
----------------- ------------------
Extraordinary income
Gain on sales of non-current assets 8,183 4,042
Gain on sales of investment securities - 3,469
Gain on bargain purchase 8,199 -
Total extraordinary income 16,383 7,511
----------------- ------------------
Extraordinary losses
Loss on sales and retirement of non-current
assets 275,905 6,374
Loss on liquidation of business 100,493 -
Retirement benefit expenses 35,555 51,447
Other 14,356 -
Total extraordinary losses 426,310 57,821
----------------- ------------------
Profit before income taxes 8,456,634 9,874,073
----------------- ------------------
Income taxes - current 2,765,956 3,139,919
Income taxes - deferred 146,186 (35,928)
Total income taxes 2,912,142 3,103,991
----------------- ------------------
Profit 5,544,491 6,770,081
----------------- ------------------
Profit attributable to owners of
parent 5,544,491 6,770,081
----------------- ------------------
Consolidated statements of comprehensive income
(Thousands of yen)
------------------------------------------------- ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2018 March 31, 2019
------------------------------------------------- ----------------- ------------------
Profit 5,544,491 6,770,081
Other comprehensive income
Valuation difference on available-for-sale
securities 45,225 (48,782)
Foreign currency translation adjustment 629,410 (113,902)
Total other comprehensive income 674,635 (162,684)
----------------- ------------------
Comprehensive income 6,219,127 6,607,396
----------------- ------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 6,219,127 6,607,396
Consolidated statements of changes in equity
Fiscal year ended March 31, 2018
(Thousands of yen)
Shareholders' equity
Capital stock Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of current period 8,646,720 11,948,946 24,022,962 (42,051) 44,576,578
------------- --------------- ---------- --------- -------------------
Changes of items
during period
------------- --------------- ---------- --------- -------------------
Dividends of surplus (519,215) (519,215)
------------- --------------- ---------- --------- -------------------
Profit attributable
to owners of parent 5,544,491 5,544,491
------------- --------------- ---------- --------- -------------------
Purchase of treasury
shares (126,068) (126,068)
------------- --------------- ---------- --------- -------------------
Disposal of treasury
shares 47,461 90,988 138,450
------------- --------------- ---------- --------- -------------------
Net changes of
items other than
shareholders'
equity
------------- --------------- ---------- --------- -------------------
Total changes
of items during
period - 47,461 5,025,275 (35,079) 5,037,657
------------- --------------- ---------- --------- -------------------
Balance at end
of current period 8,646,720 11,996,407 29,048,238 (77,131) 49,614,235
------------- --------------- ---------- --------- -------------------
Accumulated other comprehensive Total net
income assets
Valuation Foreign currency Total accumulated
difference translation other comprehensive
on available-for-sale adjustment income
securities
----------------------
Balance at beginning
of current period 121,179 (1,380,493) (1,259,314) 43,317,263
---------------------- ---------------- -------------------- ----------
Changes of items
during period
---------------------- ---------------- -------------------- ----------
Dividends of surplus (519,215)
---------------------- ---------------- -------------------- ----------
Profit attributable
to owners of parent 5,544,491
---------------------- ---------------- -------------------- ----------
Purchase of treasury
shares (126,068)
---------------------- ---------------- -------------------- ----------
Disposal of treasury
shares 138,450
---------------------- ---------------- -------------------- ----------
Net changes of
items other than
shareholders'
equity 45,225 629,410 674,635 674,635
---------------------- ---------------- -------------------- ----------
Total changes
of items during
period 45,225 629,410 674,635 5,712,292
---------------------- ---------------- -------------------- ----------
Balance at end
of current period 166,404 (751,083) (584,678) 49,029,556
---------------------- ---------------- -------------------- ----------
Fiscal year ended March 31, 2019
(Thousands of yen)
Shareholders' equity
Capital stock Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of current period 8,646,720 11,996,407 29,048,238 (77,131) 49,614,235
------------- --------------- ---------- --------- -------------------
Changes of items
during period
------------- --------------- ---------- --------- -------------------
Dividends of surplus (568,661) (568,661)
------------- --------------- ---------- --------- -------------------
Profit attributable
to owners of parent 6,770,081 6,770,081
------------- --------------- ---------- --------- -------------------
Purchase of treasury
shares (125,731) (125,731)
------------- --------------- ---------- --------- -------------------
Disposal of treasury
shares (2,057) 13,997 11,940
------------- --------------- ---------- --------- -------------------
Net changes of
items other than
shareholders'
equity
------------- --------------- ---------- --------- -------------------
Total changes
of items during
period - (2,057) 6,201,420 (111,733) 6,087,629
------------- --------------- ---------- --------- -------------------
Balance at end
of current period 8,646,720 11,994,350 35,249,658 (188,864) 55,701,864
------------- --------------- ---------- --------- -------------------
Accumulated other comprehensive Total net
income assets
Valuation Foreign currency Total accumulated
difference translation other comprehensive
on available-for-sale adjustment income
securities
----------------------
Balance at beginning
of current period 166,404 (751,083) (584,678) 49,029,556
---------------------- ---------------- -------------------- ----------
Changes of items
during period
---------------------- ---------------- -------------------- ----------
Dividends of surplus (568,661)
---------------------- ---------------- -------------------- ----------
Profit attributable
to owners of parent 6,770,081
---------------------- ---------------- -------------------- ----------
Purchase of treasury
shares (125,731)
---------------------- ---------------- -------------------- ----------
Disposal of treasury
shares 11,940
---------------------- ---------------- -------------------- ----------
Net changes of
items other than
shareholders'
equity (48,782) (113,902) (162,684) (162,684)
---------------------- ---------------- -------------------- ----------
Total changes
of items during
period (48,782) (113,902) (162,684) 5,924,944
---------------------- ---------------- -------------------- ----------
Balance at end
of current period 117,622 (864,986) (747,363) 54,954,500
---------------------- ---------------- -------------------- ----------
Consolidated statements of cash flows
(Thousands of yen)
------------------------------------------------ ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2018 March 31, 2019
------------------------------------------------ ----------------- ------------------
Cash flows from operating activities
Profit before income taxes 8,456,634 9,874,073
Loss on liquidation of business 100,493 -
Depreciation 1,846,113 2,059,593
Amortization of goodwill 20,740 17,815
Gain on bargain purchase (8,199) -
Increase (decrease) in retirement
benefit liability (35,543) (53,456)
Increase (decrease) in allowance
for doubtful accounts (43,130) (1,571)
Increase (decrease) in provision
for environmental measures (10,090) (3,436)
Loss (gain) on sales of investment
securities - (3,469)
Loss (gain) on sales and retirement
of non-current assets 267,721 2,332
Interest and dividend income (38,138) (71,583)
Foreign exchange losses (gains) 120,094 (97,148)
Decrease (increase) in notes and
accounts receivable - trade (1,214,351) (333,772)
Decrease (increase) in inventories (609,592) (1,455,567)
Increase (decrease) in notes and
accounts payable - trade 267,349 706,459
Other, net 220,713 (128,574)
Subtotal 9,340,815 10,511,694
----------------- ------------------
Interest and dividend income received 38,138 71,576
Interest expenses paid (7) -
Income taxes paid (1,834,517) (3,615,982)
Net cash provided by (used in) operating
activities 7,544,428 6,967,287
----------------- ------------------
Cash flows from investing activities
Net decrease (increase) in time deposits (5,216) 13,794
Purchase of property, plant and equipment (2,671,422) (4,320,988)
Proceeds from sales of property,
plant and equipment 13,753 18,459
Purchase of investment securities (4,175) (10,152)
Proceeds from sales of investment
securities - 9,473
Purchase of intangible assets (31,443) (58,791)
Purchase of shares of subsidiaries (24,759) -
Payments for acquisition of businesses (130,272) (1,603,834)
Other, net 1,969 260,967
Net cash provided by (used in) investing
activities (2,851,565) (5,691,072)
----------------- ------------------
Cash flows from financing activities
Repayments of long-term loans payable (22,800) -
Purchase of treasury shares (126,068) (125,731)
Cash dividends paid (519,215) (568,661)
Net cash provided by (used in) financing
activities (668,084) (694,392)
----------------- ------------------
Effect of exchange rate change on
cash and cash equivalents (59,338) 67,098
Net increase (decrease) in cash and
cash equivalents 3,965,439 648,921
----------------- ------------------
Cash and cash equivalents at beginning
of period 17,834,008 21,799,447
Cash and cash equivalents at end
of period 21,799,447 22,448,368
----------------- ------------------
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END
FR KQLBLKZFXBBE
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April 26, 2019 05:37 ET (09:37 GMT)
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