TIDMMAW
RNS Number : 6111R
Maruwa Co Ld
30 October 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 Six Months Ended September 30, 2019
(Based on Japanese GAAP)
October 30, 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 to file Quarterly Securities November 8, 2019
Report:
Scheduled date to commence dividend December 6, 2019
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, 2019 (from April 1, 2019 to September 30, 2019)
(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, 2019 20,340 4.6 4,148 (6.1) 4,176 (12.1) 2,868 (11.3)
Six months ended September
30, 2018 19,454 11.5 4,419 13.4 4,750 19.4 3,233 22.4
-------- ---- ---------- ------ --------- ------ ----------- --------
Earnings per share Diluted earnings
per share
Yen Yen
Six months ended September
30, 2019 232.51 -
Six months ended September
30, 2018 261.53 -
------------------ ----------------
(2) Consolidated financial position
Total assets Net assets Equity ratio
Millions of Millions of %
yen yen
As of September 30, 2019 65,457 56,930 87.0
As of March 31, 2019 64,627 54,954 85.0
------------ ----------- ------------
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,
2019 - 24.00 - 24.00 48.00
Year ending March 31,
2020 - 26.00
--------------- --------------- --------------- --------------- -----
Year ending March 31,
2020 (Forecast) - 26.00 52.00
--------------- --------------- --------------- --------------- -----
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
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 six No
months ended September 30, 2019
(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,
2019 12,372,000 shares As of March 31, 2019 12,372,000 shares
--------------------- ---------- --------------------- ----------
Number of treasury shares at the end of the period
As of September 30,
2019 40,113 shares As of March 31, 2019 28,920 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, 2019 12,334,929 shares 30, 2018 12,362,177 shares
---------------------------- ---------- --------------------------- ----------
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of September
2019 30, 2019
------------------------------------------------------ --------------- ------------------
Assets
Current assets
Cash and deposits 22,627,403 25,940,228
Notes and accounts receivable - trade 10,266,096 8,896,200
Electronically recorded monetary
claims - operating 1,476,219 1,115,121
Merchandise and finished goods 3,161,672 2,725,516
Work in process 2,337,293 2,561,188
Raw materials and supplies 4,277,629 3,374,192
Other 1,430,685 802,584
Allowance for doubtful accounts (1,920) (4,088)
Total current assets 45,575,080 45,410,945
--------------- ------------------
Non-current assets
Property, plant and equipment
Buildings and structures 12,583,053 12,722,174
Accumulated depreciation (6,512,559) (6,618,467)
Buildings and structures, net 6,070,494 6,103,707
--------------- ------------------
Machinery, equipment and vehicles 20,957,313 21,629,041
Accumulated depreciation (16,322,648) (16,516,333)
Machinery, equipment and vehicles,
net 4,634,664 5,112,707
--------------- ------------------
Land 4,003,430 4,034,929
Construction in progress 813,830 1,313,784
Other 4,615,622 4,618,397
Accumulated depreciation (3,790,482) (3,841,324)
Other, net 825,140 777,073
--------------- ------------------
Total property, plant and equipment 16,347,560 17,342,202
--------------- ------------------
Intangible assets
Goodwill 249,423 222,699
Other 283,871 278,462
Total intangible assets 533,294 501,162
--------------- ------------------
Investments and other assets 2,171,586 2,203,180
Total non-current assets 19,052,442 20,046,545
--------------- ------------------
Total assets 64,627,522 65,457,491
--------------- ------------------
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of September
2019 30, 2019
------------------------------------------------------ --------------- ------------------
Liabilities
Current liabilities
Notes and accounts payable - trade 2,827,288 2,503,992
Electronically recorded obligations
- operating 1,704,169 1,069,637
Income taxes payable 1,590,551 1,448,368
Provision for bonuses 627,985 643,641
Provision for bonuses for directors
(and other officers) 63,000 7,000
Other 2,047,119 2,072,281
Total current liabilities 8,860,114 7,744,920
--------------- ------------------
Non-current liabilities
Deferred tax liabilities 452,364 408,906
Other 360,543 372,730
Total non-current liabilities 812,907 781,636
--------------- ------------------
Total liabilities 9,673,021 8,526,557
--------------- ------------------
Net assets
Shareholders' equity
Share capital 8,646,720 8,646,720
Capital surplus 11,994,350 11,992,492
Retained earnings 35,249,658 37,821,474
Treasury shares (188,864) (239,092)
Total shareholders' equity 55,701,864 58,221,595
--------------- ------------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 117,622 132,045
Foreign currency translation adjustment (864,986) (1,422,706)
Total accumulated other comprehensive
income (747,363) (1,290,661)
--------------- ------------------
Total net assets 54,954,500 56,930,933
--------------- ------------------
Total liabilities and net assets 64,627,522 65,457,491
--------------- ------------------
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, 2018 September 30, 2019
-------------------------------------------------- ------------------- -------------------
Net sales 19,454,451 20,340,966
Cost of sales 11,047,244 12,124,683
Gross profit 8,407,206 8,216,282
------------------- -------------------
Selling, general and administrative
expenses 3,987,551 4,067,286
Operating profit 4,419,655 4,148,996
------------------- -------------------
Non-operating income
Interest income 13,184 28,652
Rental income 38,518 47,906
Foreign exchange gains 257,184 -
Other 56,322 20,453
Total non-operating income 365,209 97,011
------------------- -------------------
Non-operating expenses
Foreign exchange losses - 31,667
Rent expenses on real estate for
investments 27,451 26,879
Other 6,965 11,018
Total non-operating expenses 34,417 69,565
------------------- -------------------
Ordinary profit 4,750,446 4,176,442
------------------- -------------------
Extraordinary income
Gain on sales of non-current assets 2,947 1,059
Gain on sales of investment securities 3,469 -
Total extraordinary income 6,416 1,059
------------------- -------------------
Extraordinary losses
Loss on sales and retirement of non-current
assets 1,577 28,485
Loss on valuation of investment securities - 27,510
Retirement benefit expenses 11,437 -
Total extraordinary losses 13,014 55,995
------------------- -------------------
Profit before income taxes 4,743,848 4,121,506
------------------- -------------------
Income taxes - current 1,437,390 1,367,200
Income taxes - deferred 73,329 (113,743)
Total income taxes 1,510,719 1,253,457
------------------- -------------------
Profit 3,233,129 2,868,049
------------------- -------------------
Profit attributable to owners of
parent 3,233,129 2,868,049
------------------- -------------------
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
------------------------------------------------- ------------------- -------------------
Six months ended Six months ended
September 30, 2018 September 30, 2019
------------------------------------------------- ------------------- -------------------
Profit 3,233,129 2,868,049
Other comprehensive income
Valuation difference on available-for-sale
securities (16,303) 14,422
Foreign currency translation adjustment (16,291) (557,720)
Total other comprehensive income (32,595) (543,297)
------------------- -------------------
Comprehensive income 3,200,534 2,324,752
------------------- -------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 3,200,534 2,324,752
Consolidated statements of cash flows
(Thousands of yen)
------------------------------------------------ ------------------- -------------------
Six months ended Six months ended
September 30, 2018 September 30, 2019
------------------------------------------------ ------------------- -------------------
Cash flows from operating activities
Profit before income taxes 4,743,848 4,121,506
Depreciation 949,949 1,140,487
Amortization of goodwill - 26,723
Increase (decrease) in allowance
for doubtful accounts (624) 1,114
Increase (decrease) in provision
for environmental measures (3,436) -
Loss (gain) on sales of investment
securities (3,469) -
Loss (gain) on valuation of investment
securities - 27,510
Loss (gain) on sales and retirement
of non-current assets (1,370) 27,425
Increase (decrease) in retirement
benefit liability (40,142) -
Interest and dividend income (46,660) (31,607)
Foreign exchange losses (gains) (84,723) (5,929)
Decrease (increase) in trade receivables 578,790 1,620,188
Decrease (increase) in inventories (820,210) 1,010,896
Increase (decrease) in trade payables (158,961) (823,121)
Other, net 395,665 207,952
Subtotal 5,508,654 7,323,147
------------------- -------------------
Interest and dividends received 46,654 31,608
Income taxes paid (2,063,456) (1,429,303)
Net cash provided by (used in) operating
activities 3,491,852 5,925,452
------------------- -------------------
Cash flows from investing activities
Net decrease (increase) in time deposits 13,832 (1,585)
Purchase of property, plant and equipment (1,391,537) (2,081,015)
Proceeds from sales of property,
plant and equipment 6,007 1,038
Purchase of investment securities (8,148) (2,034)
Proceeds from sales of investment
securities 9,469 -
Purchase of intangible assets (30,390) (29,023)
Other, net 258,057 7,435
Net cash provided by (used in) investing
activities (1,142,709) (2,105,184)
------------------- -------------------
Cash flows from financing activities
Purchase of treasury shares (1,506) (62,145)
Dividends paid (271,970) (296,233)
Net cash provided by (used in) financing
activities (273,477) (358,379)
------------------- -------------------
Effect of exchange rate change on
cash and cash equivalents 84,519 (145,095)
Net increase (decrease) in cash and
cash equivalents 2,160,185 3,316,793
------------------- -------------------
Cash and cash equivalents at beginning
of period 21,799,447 22,448,629
Cash and cash equivalents at end
of period 23,959,633 25,765,423
------------------- -------------------
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END
IR WGGBGUUPBUBU
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October 30, 2019 05:23 ET (09:23 GMT)
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