TIDMMAW
RNS Number : 7219W
Maruwa Co Ld
27 April 2021
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, 2021
(Based on Japanese GAAP)
April 27, 2021
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 Kouichi Goto TEL 0561-51-0841
Scheduled date of ordinary general June 25, 2021
meeting of shareholders:
Scheduled date to file Securities June 28, 2021
Report:
Scheduled date to commence dividend June 28, 2021
payments:
Preparation of supplementary material Yes
on financial results:
Holding of financial results meeting: Yes
(Amounts less than one million yen are
rounded down)
1. Consolidated financial results for the year ended March 31,
2021 (from April 1, 2020 to March 31, 2021)
(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,
2021 41,438 0.5 10,248 9.7 10,330 8.5 6,935 17.7
Year ended March 31,
2020 41,231 0.1 9,345 (2.2) 9,520 (4.1) 5,893 (12.9)
-------- --- ---------- ------ ---------- ----- ----------- --------
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,
2021 562.30 - 11.0 13.9 24.7
Year ended March 31,
2020 477.88 - 10.3 14.1 22.7
------------ ---------------- ------------------- --------------------- -----------
(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, 2021 78,059 66,344 85.0 5,378.23
As of March 31, 2020 70,681 59,453 84.1 4,821.14
------------ ----------- ------------ --------------
(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,
2021 10,713 (5,376) (801) 33,888
Year ended March 31,
2020 10,719 (5,272) 1,420 29,114
---------------------- ---------------------- ---------------------- ------------------
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,
2020 - 26.00 - 26.00 52.00 641 10.9 1.1
Year ended March
31,
2021 - 28.00 - 36.00 64.00 789 11.4 1.3
----------- ----------- ----------- -------- ----- --------- -------------- --------------
Year ending March
31, 2022 - 30.00 - 38.00 68.00 11.2
(Forecast)
----------- ----------- ----------- -------- ----- --------- -------------- --------------
3. Forecast of consolidated financial results for the year
ending March 31, 2022 ( from April 1, 2021 to March 31, 2022)
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,
2021 20,000 2.4 5,000 6.7 5,000 7.7 3,500 10.9 283.72
Full year 42,000 1.4 11,000 7.3 11,000 6.5 7,500 8.1 607.99
-------- --- ------------ ---- ----------- ---- ------------- ------ ----------
4. Notes
(1) Changes in significant subsidiaries during the year No
ended March 31, 2021
(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, 2021 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 March 31, 2021 36,327 shares As of March 31, 2020 40,163 shares
---------------------- ------ --------------------- ------
Average number of shares during the period
Year ended March 31, Year ended March 31,
2021 12,333,994 shares 2020 12,333,398 shares
---------------------- ---------- --------------------- ----------
Consolidated financial statements
Consolidated balance sheets
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2020 2021
------------------------------------------------------ --------------- ------------------
Assets
Current assets
Cash and deposits 29,334,349 34,088,967
Notes and accounts receivable - trade 9,542,199 9,834,869
Electronically recorded monetary
claims - operating 1,295,434 1,267,548
Merchandise and finished goods 2,061,801 1,641,861
Work in process 2,393,622 2,277,590
Raw materials and supplies 2,756,758 2,463,698
Other 1,757,311 2,148,598
Allowance for doubtful accounts (8,180) (8,565)
Total current assets 49,133,297 53,714,567
--------------- ------------------
Non-current assets
Property, plant and equipment
Buildings and structures 12,650,214 17,012,631
Accumulated depreciation (6,505,584) (6,967,852)
Buildings and structures, net 6,144,629 10,044,778
--------------- ------------------
Machinery, equipment and vehicles 20,998,043 22,354,975
Accumulated depreciation (16,567,320) (17,149,994)
Machinery, equipment and vehicles,
net 4,430,722 5,204,980
--------------- ------------------
Land 4,421,234 4,544,075
Construction in progress 3,445,592 1,889,619
Other 3,499,670 3,887,023
Accumulated depreciation (2,898,143) (3,238,099)
Other, net 601,527 648,924
--------------- ------------------
Total property, plant and equipment 19,043,706 22,332,378
--------------- ------------------
Intangible assets
Goodwill 195,975 -
Other 254,672 260,512
Total intangible assets 450,648 260,512
--------------- ------------------
Investments and other assets
Investment securities 239,134 248,510
Deferred tax assets 707,858 440,423
Investment property, net 980,003 963,836
Other 130,222 104,396
Allowance for doubtful accounts (3,240) (4,677)
Total investments and other assets 2,053,978 1,752,489
--------------- ------------------
Total non-current assets 21,548,333 24,345,380
--------------- ------------------
Total assets 70,681,631 78,059,947
--------------- ------------------
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2020 2021
------------------------------------------------------ --------------- ------------------
Liabilities
Current liabilities
Notes and accounts payable - trade 1,898,714 2,404,868
Electronically recorded obligations
- operating 1,619,355 1,931,969
Short-term borrowings 900,000 100,000
Current portion of long-term borrowings - 266,688
Income taxes payable 827,864 1,986,715
Provision for bonuses 608,949 699,556
Provision for bonuses for directors
(and other officers) 63,000 49,500
Other 3,382,929 2,172,822
Total current liabilities 9,300,813 9,612,119
--------------- ------------------
Non-current liabilities
Long-term borrowings 1,200,000 1,599,968
Deferred tax liabilities 351,419 160,873
Other 375,829 342,809
Total non-current liabilities 1,927,248 2,103,651
--------------- ------------------
Total liabilities 11,228,062 11,715,771
--------------- ------------------
Net assets
Shareholders' equity
Share capital 8,646,720 8,646,720
Capital surplus 11,992,492 12,005,832
Retained earnings 40,526,723 46,796,211
Treasury shares (239,524) (217,648)
Total shareholders' equity 60,926,411 67,231,114
--------------- ------------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 70,521 119,673
Foreign currency translation adjustment (1,543,364) (1,006,611)
Total accumulated other comprehensive
income (1,472,842) (886,937)
--------------- ------------------
Total net assets 59,453,569 66,344,176
--------------- ------------------
Total liabilities and net assets 70,681,631 78,059,947
--------------- ------------------
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, 2020 March 31, 2021
------------------------------------------------- ----------------- ------------------
Net sales 41,231,431 41,438,018
Cost of sales 23,685,411 23,074,815
Gross profit 17,546,020 18,363,202
----------------- ------------------
Selling, general and administrative
expenses 8,200,209 8,114,991
Operating profit 9,345,810 10,248,211
----------------- ------------------
Non-operating income
Interest income 65,785 51,944
Rental income 94,361 88,098
Foreign exchange gains 45,346 -
Other 34,405 57,585
Total non-operating income 239,899 197,628
----------------- ------------------
Non-operating expenses
Interest expenses 305 6,954
Foreign exchange losses - 50,765
Rent expenses on real estate for
investments 49,924 46,930
Bad debt expenses 6,636 -
Other 8,576 11,160
Total non-operating expenses 65,443 115,810
----------------- ------------------
Ordinary profit 9,520,266 10,330,028
----------------- ------------------
Extraordinary income
Gain on sale of non-current assets 29,529 2,383
Gain on sale of investment securities 11,986 65,414
Gain on liquidation of subsidiaries - 11,887
Settlement received 100,000 -
Total extraordinary income 141,515 79,685
----------------- ------------------
Extraordinary losses
Loss on sale and retirement of non-current
assets 77,797 258,622
Impairment losses - 169,251
Loss on valuation of investment securities 27,510 -
Loss related to infectious disease 61,025 68,805
Loss on liquidation of business 773,648 -
Other 25,436 28,737
Total extraordinary losses 965,418 525,416
----------------- ------------------
Profit before income taxes 8,696,363 9,884,297
----------------- ------------------
Income taxes - current 2,928,470 2,905,073
Income taxes - deferred (126,034) 43,762
Total income taxes 2,802,435 2,948,836
----------------- ------------------
Profit 5,893,928 6,935,461
----------------- ------------------
Profit attributable to owners of
parent 5,893,928 6,935,461
----------------- ------------------
Consolidated statements of comprehensive income
(Thousands of yen)
------------------------------------------------- ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2020 March 31, 2021
------------------------------------------------- ----------------- ------------------
Profit 5,893,928 6,935,461
Other comprehensive income
Valuation difference on available-for-sale
securities (47,101) 49,152
Foreign currency translation adjustment (678,378) 536,752
Total other comprehensive income (725,479) 585,905
----------------- ------------------
Comprehensive income 5,168,449 7,521,366
----------------- ------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 5,168,449 7,521,366
Consolidated statements of changes in equity
Fiscal year ended March 31, 2020
(Thousands of yen)
Shareholders' equity
Share capital Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of period 8,646,720 11,994,350 35,249,658 (188,864) 55,701,864
------------- --------------- ---------- --------- -------------------
Changes during
period
------------- --------------- ---------- --------- -------------------
Dividends of surplus (616,862) (616,862)
------------- --------------- ---------- --------- -------------------
Profit attributable
to owners of parent 5,893,928 5,893,928
------------- --------------- ---------- --------- -------------------
Purchase of treasury
shares (62,577) (62,577)
------------- --------------- ---------- --------- -------------------
Disposal of treasury
shares (1,857) 11,917 10,060
------------- --------------- ---------- --------- -------------------
Net changes in
items other than
shareholders'
equity
------------- --------------- ---------- --------- -------------------
Total changes
during period - (1,857) 5,277,065 (50,660) 5,224,547
------------- --------------- ---------- --------- -------------------
Balance at end
of period 8,646,720 11,992,492 40,526,723 (239,524) 60,926,411
------------- --------------- ---------- --------- -------------------
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 period 117,622 (864,986) (747,363) 54,954,500
----------------------- ----------------- --------------------- ----------
Changes during
period
----------------------- ----------------- --------------------- ----------
Dividends of surplus (616,862)
----------------------- ----------------- --------------------- ----------
Profit attributable
to owners of parent 5,893,928
----------------------- ----------------- --------------------- ----------
Purchase of treasury
shares (62,577)
----------------------- ----------------- --------------------- ----------
Disposal of treasury
shares 10,060
----------------------- ----------------- --------------------- ----------
Net changes in
items other than
shareholders'
equity (47,101) (678,378) (725,479) (725,479)
----------------------- ----------------- --------------------- ----------
Total changes
during period (47,101) (678,378) (725,479) 4,499,068
----------------------- ----------------- --------------------- ----------
Balance at end
of period 70,521 (1,543,364) (1,472,842) 59,453,569
----------------------- ----------------- --------------------- ----------
Fiscal year ended March 31, 2021
(Thousands of yen)
Shareholders' equity
Share capital Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of period 8,646,720 11,992,492 40,526,723 (239,524) 60,926,411
------------- --------------- ---------- --------- -------------------
Changes during
period
------------- --------------- ---------- --------- -------------------
Dividends of surplus (665,974) (665,974)
------------- --------------- ---------- --------- -------------------
Profit attributable
to owners of parent 6,935,461 6,935,461
------------- --------------- ---------- --------- -------------------
Purchase of treasury
shares (2,600) (2,600)
------------- --------------- ---------- --------- -------------------
Disposal of treasury
shares 13,339 24,476 37,816
------------- --------------- ---------- --------- -------------------
Net changes in
items other than
shareholders'
equity
------------- --------------- ---------- --------- -------------------
Total changes
during period - 13,339 6,269,487 21,875 6,304,702
------------- --------------- ---------- --------- -------------------
Balance at end
of period 8,646,720 12,005,832 46,796,211 (217,648) 67,231,114
------------- --------------- ---------- --------- -------------------
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 period 70,521 (1,543,364) (1,472,842) 59,453,569
----------------------- ----------------- --------------------- ----------
Changes during
period
----------------------- ----------------- --------------------- ----------
Dividends of surplus (665,974)
----------------------- ----------------- --------------------- ----------
Profit attributable
to owners of parent 6,935,461
----------------------- ----------------- --------------------- ----------
Purchase of treasury
shares (2,600)
----------------------- ----------------- --------------------- ----------
Disposal of treasury
shares 37,816
----------------------- ----------------- --------------------- ----------
Net changes in
items other than
shareholders'
equity 49,152 536,752 585,905 585,905
----------------------- ----------------- --------------------- ----------
Total changes
during period 49,152 536,752 585,905 6,890,607
----------------------- ----------------- --------------------- ----------
Balance at end
of period 119,673 (1,006,611) (886,937) 66,344,176
----------------------- ----------------- --------------------- ----------
Consolidated statements of cash flows
(Thousands of yen)
------------------------------------------------- ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2020 March 31, 2021
------------------------------------------------- ----------------- ------------------
Cash flows from operating activities
Profit before income taxes 8,696,363 9,884,297
Loss on liquidation of business 773,648 -
Impairment losses - 169,251
Depreciation 2,319,896 2,169,165
Amortization of goodwill 53,447 26,723
Increase (decrease) in allowance
for doubtful accounts (2,015) 1,822
Loss (gain) on liquidation of subsidiaries - (11,887)
Loss (gain) on sale of investment
securities (11,986) (65,414)
Loss (gain) on valuation of investment
securities 27,510 -
Loss (gain) on sale and retirement
of non-current assets 48,268 256,238
Interest and dividend income (71,699) (56,960)
Interest expenses 305 6,954
Foreign exchange losses (gains) (7,174) (655)
Decrease (increase) in trade receivables 762,701 (168,693)
Decrease (increase) in inventories 2,084,047 872,189
Increase (decrease) in trade payables (1,016,862) 664,553
Other, net 716,742 (1,307,844)
Subtotal 14,373,193 12,439,742
----------------- ------------------
Interest and dividends received 71,695 56,962
Interest paid (305) (7,044)
Income taxes refund (paid) (3,725,511) (1,776,035)
----------------- ------------------
Net cash provided by (used in) operating
activities 10,719,072 10,713,625
----------------- ------------------
Cash flows from investing activities
Net decrease (increase) in time deposits (40,710) 32,896
Purchase of property, plant and equipment (5,408,367) (5,536,867)
Proceeds from sale of property, plant
and equipment 156,643 4,676
Purchase of intangible assets (32,104) (40,732)
Purchase of investment securities (4,043) (3,321)
Proceeds from sale of investment
securities 32,504 109,450
Proceeds from liquidation of subsidiaries - 34,582
Other, net 23,591 22,827
Net cash provided by (used in) investing
activities (5,272,485) (5,376,488)
----------------- ------------------
Cash flows from financing activities
Proceeds from short-term borrowings 900,000 100,000
Repayments of short-term borrowings - (900,000)
Proceeds from long-term borrowings 1,200,000 800,000
Repayments of long-term borrowings - (133,344)
Purchase of treasury shares (62,577) (2,600)
Dividends paid (616,862) (665,974)
Net cash provided by (used in) financing
activities 1,420,559 (801,918)
----------------- ------------------
Effect of exchange rate change on
cash and cash equivalents (200,924) 238,514
Net increase (decrease) in cash and
cash equivalents 6,666,221 4,773,732
----------------- ------------------
Cash and cash equivalents at beginning
of period 22,448,368 29,114,590
Cash and cash equivalents at end
of period 29,114,590 33,888,322
----------------- ------------------
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