TIDMMAW
RNS Number : 1432L
Maruwa Co Ld
28 April 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 Year Ended March 31, 2020
(Based on Japanese GAAP)
April 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: Director, General Manager Tamaki Nozoki TEL 0561-51-0839
of Administrative Division
Scheduled date of ordinary general June 25, 2020
meeting of shareholders:
Scheduled date to file Securities June 26, 2020
Report:
Scheduled date to commence dividend June 26, 2020
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,
2020 (from April 1, 2019 to March 31, 2020)
(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,
2020 41,231 0.1 9,345 (2.2) 9,520 (4.1) 5,893 (12.9)
Year ended March 31,
2019 41,193 7.0 9,556 4.2 9,924 11.9 6,770 22.1
-------- --- ---------- ------ ---------- ----- ----------- --------
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,
2020 477.88 - 10.3 14.1 22.7
Year ended March 31,
2019 547.87 - 13.0 16.1 23.2
------------ ---------------- ------------------- --------------------- -----------
(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, 2020 70,681 59,453 84.1 4,821.14
As of March 31, 2019 64,627 54,954 85.0 4,452.25
------------ ----------- ------------ --------------
(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,
2020 10,719 (5,272) 1,420 29,114
Year ended March 31,
2019 6,967 (5,691) (694) 22,448
---------------------- ---------------------- ---------------------- ------------------
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,
2019 - 24.00 - 24.00 48.00 592 8.8 1.1
Year ended March
31,
2020 - 26.00 - 26.00 52.00 641 10.9 1.1
----------- ----------- ----------- -------- ----- --------- -------------- --------------
Year ending March
31, 2021 - 28.00 - 28.00 56.00 12.7
(Forecast)
----------- ----------- ----------- -------- ----- --------- -------------- --------------
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
Six months ending
September 30,
2020 16,500 (18.9) 3,400 (18.1) 3,400 (18.6) 2,300 (19.8) 186.50
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 year No
ended March 31, 2020
(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, 2020 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 March 31, 2020 40,163 shares As of March 31, 2019 28,920 shares
---------------------- ------ --------------------- ------
Average number of shares during the period
Year ended March 31, Year ended March 31,
2020 12,333,398 shares 2019 12,356,998 shares
---------------------- ---------- --------------------- ----------
Consolidated financial statements
Consolidated balance sheets
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2019 2020
------------------------------------------------------ --------------- ------------------
Assets
Current assets
Cash and deposits 22,627,403 29,334,349
Notes and accounts receivable - trade 10,266,096 9,542,199
Electronically recorded monetary
claims - operating 1,476,219 1,295,434
Merchandise and finished goods 3,161,672 2,061,801
Work in process 2,337,293 2,393,622
Raw materials and supplies 4,277,629 2,756,758
Other 1,430,685 1,757,311
Allowance for doubtful accounts (1,920) (8,180)
Total current assets 45,575,080 49,133,297
--------------- ------------------
Non-current assets
Property, plant and equipment
Buildings and structures 12,583,053 12,650,214
Accumulated depreciation (6,512,559) (6,505,584)
Buildings and structures, net 6,070,494 6,144,629
--------------- ------------------
Machinery, equipment and vehicles 20,957,313 20,998,043
Accumulated depreciation (16,322,648) (16,567,320)
Machinery, equipment and vehicles,
net 4,634,664 4,430,722
--------------- ------------------
Land 4,003,430 4,421,234
Construction in progress 813,830 3,445,592
Other 4,615,622 3,499,670
Accumulated depreciation (3,790,482) (2,898,143)
Other, net 825,140 601,527
--------------- ------------------
Total property, plant and equipment 16,347,560 19,043,706
--------------- ------------------
Intangible assets
Goodwill 249,423 195,975
Other 283,871 254,672
Total intangible assets 533,294 450,648
--------------- ------------------
Investments and other assets
Investment securities 340,439 239,134
Deferred tax assets 644,164 707,858
Investment property 997,257 980,003
Buildings and structures 695,399 695,399
Accumulated depreciation (396,012) (412,064)
Buildings and structures, net 299,386 283,334
--------------- ------------------
Land 688,832 688,832
Other 42,067 42,067
Accumulated depreciation (33,029) (34,231)
Other, net 9,037 7,835
--------------- ------------------
Other 201,241 130,222
Allowance for doubtful accounts (11,516) (3,240)
Total investments and other assets 2,171,586 2,053,978
--------------- ------------------
Total non-current assets 19,052,442 21,548,333
--------------- ------------------
Total assets 64,627,522 70,681,631
--------------- ------------------
(Thousands of yen)
------------------------------------------------------ --------------- ------------------
As of March 31, As of March 31,
2019 2020
------------------------------------------------------ --------------- ------------------
Liabilities
Current liabilities
Notes and accounts payable - trade 2,827,288 1,898,714
Electronically recorded obligations
- operating 1,704,169 1,619,355
Short-term borrowings - 900,000
Income taxes payable 1,590,551 827,864
Provision for bonuses 627,985 608,949
Provision for bonuses for directors
(and other officers) 63,000 63,000
Other 2,047,119 3,382,929
Total current liabilities 8,860,114 9,300,813
--------------- ------------------
Non-current liabilities
Long-term borrowings - 1,200,000
Deferred tax liabilities 452,364 351,419
Other 360,543 375,829
Total non-current liabilities 812,907 1,927,248
--------------- ------------------
Total liabilities 9,673,021 11,228,062
--------------- ------------------
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 40,526,723
Treasury shares (188,864) (239,524)
Total shareholders' equity 55,701,864 60,926,411
--------------- ------------------
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities 117,622 70,521
Foreign currency translation adjustment (864,986) (1,543,364)
Total accumulated other comprehensive
income (747,363) (1,472,842)
--------------- ------------------
Total net assets 54,954,500 59,453,569
--------------- ------------------
Total liabilities and net assets 64,627,522 70,681,631
--------------- ------------------
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, 2019 March 31, 2020
-------------------------------------------------- ----------------- ------------------
Net sales 41,193,338 41,231,431
Cost of sales 23,264,386 23,685,411
Gross profit 17,928,952 17,546,020
----------------- ------------------
Selling, general and administrative
expenses 8,372,881 8,200,209
Operating profit 9,556,071 9,345,810
----------------- ------------------
Non-operating income
Interest income 35,322 65,785
Rental income 79,282 94,361
Foreign exchange gains 219,615 45,346
Other 97,381 34,405
Total non-operating income 431,602 239,899
----------------- ------------------
Non-operating expenses
Interest expenses - 305
Rent expenses on real estate for
investments 48,361 49,924
Bad debts expenses - 6,636
Other 14,927 8,576
Total non-operating expenses 63,289 65,443
----------------- ------------------
Ordinary profit 9,924,383 9,520,266
----------------- ------------------
Extraordinary income
Gain on sales of non-current assets 4,042 29,529
Gain on sales of investment securities 3,469 11,986
Settlement received - 100,000
Total extraordinary income 7,511 141,515
----------------- ------------------
Extraordinary losses
Loss on sales and retirement of non-current
assets 6,374 77,797
Loss on valuation of investment securities - 27,510
Loss on liquidation of business - 773,648
Retirement benefit expenses 51,447 -
Other - 86,461
Total extraordinary losses 57,821 965,418
----------------- ------------------
Profit before income taxes 9,874,073 8,696,363
----------------- ------------------
Income taxes - current 3,139,919 2,928,470
Income taxes - deferred (35,928) (126,034)
Total income taxes 3,103,991 2,802,435
----------------- ------------------
Profit 6,770,081 5,893,928
----------------- ------------------
Profit attributable to owners of
parent 6,770,081 5,893,928
----------------- ------------------
Consolidated statements of comprehensive income
(Thousands of yen)
------------------------------------------------- ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2019 March 31, 2020
------------------------------------------------- ----------------- ------------------
Profit 6,770,081 5,893,928
Other comprehensive income
Valuation difference on available-for-sale
securities (48,782) (47,101)
Foreign currency translation adjustment (113,902) (678,378)
Total other comprehensive income (162,684) (725,479)
----------------- ------------------
Comprehensive income 6,607,396 5,168,449
----------------- ------------------
Comprehensive income attributable
to
Comprehensive income attributable
to owners of parent 6,607,396 5,168,449
Consolidated statements of changes in equity
Fiscal year ended March 31, 2019
(Thousands of yen)
Shareholders' equity
Share capital Capital surplus Retained Treasury Total shareholders'
earnings shares equity
-------------
Balance at beginning
of period 8,646,720 11,996,407 29,048,238 (77,131) 49,614,235
------------- --------------- ---------- --------- -------------------
Changes 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 in
items other than
shareholders'
equity
------------- --------------- ---------- --------- -------------------
Total changes
during period - (2,057) 6,201,420 (111,733) 6,087,629
------------- --------------- ---------- --------- -------------------
Balance at end
of 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 period 166,404 (751,083) (584,678) 49,029,556
---------------------- ---------------- -------------------- ----------
Changes 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 in
items other than
shareholders'
equity (48,782) (113,902) (162,684) (162,684)
---------------------- ---------------- -------------------- ----------
Total changes
during period (48,782) (113,902) (162,684) 5,924,944
---------------------- ---------------- -------------------- ----------
Balance at end
of period 117,622 (864,986) (747,363) 54,954,500
---------------------- ---------------- -------------------- ----------
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
---------------------- ---------------- -------------------- ----------
Consolidated statements of cash flows
(Thousands of yen)
------------------------------------------------ ----------------- ------------------
Fiscal year ended Fiscal year ended
March 31, 2019 March 31, 2020
------------------------------------------------ ----------------- ------------------
Cash flows from operating activities
Profit before income taxes 9,874,073 8,696,363
Loss on liquidation of business - 773,648
Depreciation 2,059,593 2,319,896
Amortization of goodwill 17,815 53,447
Increase (decrease) in retirement
benefit liability (53,456) -
Increase (decrease) in allowance
for doubtful accounts (1,571) (2,015)
Increase (decrease) in provision
for environmental measures (3,436) -
Loss (gain) on sales of investment
securities (3,469) (11,986)
Loss (gain) on valuation of investment
securities - 27,510
Loss (gain) on sales and retirement
of non-current assets 2,332 48,268
Interest and dividend income (71,583) (71,699)
Interest expenses - 305
Foreign exchange losses (gains) (97,148) (7,174)
Decrease (increase) in trade receivables (333,772) 762,701
Decrease (increase) in inventories (1,455,567) 2,084,047
Increase (decrease) in trade payables 706,459 (1,016,862)
Other, net (128,574) 716,742
Subtotal 10,511,694 14,373,193
----------------- ------------------
Interest and dividends received 71,576 71,695
Interest paid - (305)
Income taxes paid (3,615,982) (3,725,511)
Net cash provided by (used in) operating
activities 6,967,287 10,719,072
----------------- ------------------
Cash flows from investing activities
Net decrease (increase) in time deposits 13,794 (40,710)
Purchase of property, plant and equipment (4,320,988) (5,408,367)
Proceeds from sales of property,
plant and equipment 18,459 156,643
Purchase of investment securities (10,152) (4,043)
Proceeds from sales of investment
securities 9,473 32,504
Purchase of intangible assets (58,791) (32,104)
Payments for acquisition of businesses (1,603,834) -
Other, net 260,967 23,591
Net cash provided by (used in) investing
activities (5,691,072) (5,272,485)
----------------- ------------------
Cash flows from financing activities
Proceeds from short-term borrowings - 900,000
Proceeds from long-term borrowings - 1,200,000
Purchase of treasury shares (125,731) (62,577)
Dividends paid (568,661) (616,862)
Net cash provided by (used in) financing
activities (694,392) 1,420,559
----------------- ------------------
Effect of exchange rate change on
cash and cash equivalents 67,098 (200,924)
Net increase (decrease) in cash and
cash equivalents 648,921 6,666,221
----------------- ------------------
Cash and cash equivalents at beginning
of period 21,799,447 22,448,368
Cash and cash equivalents at end
of period 22,448,368 29,114,590
----------------- ------------------
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END
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