Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Three Months Ended June 30, 2023
[Japanese GAAP]
July 26, 2023
Company name: AICHI CORPORATION
Stock exchange listing: Tokyo, Nagoya
Code number: 6345
URL: https://www.aichi-corp.co.jp
Representative: Toshiya Yamagishi, President and Representative Director
Contact: Tadashi Okumura, Accounting General Manager
Phone: +81-48-781-1111
Scheduled date of filing quarterly securities report: August 8, 2023
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No
(Amounts of less than one million yen are rounded down.) | ||||||||||
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023) | ||||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
June 30, 2023 | 10,606 | (0.7) | 728 | 3.7 | 936 | (5.7) | 664 | (5.5) | ||
June 30, 2022 | 10,681 | 13.5 | 702 | 35.3 | 992 | 29.7 | 702 | 32.5 |
(Note) Comprehensive income: | Three months ended June 30, 2023: |
Three months ended June 30, 2022: |
¥ | 1,759 million | [ | 119.3%] |
¥ | 802 million | [ | 147.6%] |
Basic earnings | Diluted earnings per | |||||
per share | share | |||||
Three months ended | Yen | Yen | ||||
June 30, 2023 | 8.83 | - | ||||
June 30, 2022 | 9.32 | - | ||||
(2) Consolidated Financial Position | ||||||
Total assets | Net assets | Capital adequacy ratio | ||||
As of | Millions of yen | Millions of yen | % | |||
June 30, 2023 | 94,241 | 78,903 | 83.7 | |||
March 31, 2023 | 95,695 | 78,573 | 82.1 | |||
(Reference) Equity: As of | June 30, 2023: | ¥ | 78,903 million | |||
As of | March 31, 2023: | ¥ | 78,573 million |
―1―
2. Dividends
Annual dividends | |||||||||||||||||||||
1st | 2nd | 3rd | Year-end | Total | |||||||||||||||||
quarter-end | quarter-end | quarter-end | |||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||||
Fiscal year ended March 31, 2023 | - | 17.00 | - | 19.00 | 36.00 | ||||||||||||||||
Fiscal year ending March 31, 2024 | - | ||||||||||||||||||||
Fiscal year ending March 31, 2024 | 19.00 | - | 19.00 | 38.00 | |||||||||||||||||
(Forecast) | |||||||||||||||||||||
(Note) Revision to the forecast for dividends announced most recently: | No | ||||||||||||||||||||
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024) | |||||||||||||||||||||
(% indicates changes from the previous corresponding period.) | |||||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable | Basic earnings per | |||||||||||||||||
to owners of parent | share | ||||||||||||||||||||
Millions of | Millions of | Millions of | Millions of | ||||||||||||||||||
yen | % | yen | % | yen | % | yen | % | Yen | |||||||||||||
Full year | 61,000 | 0.5 | 7,500 | 2.0 | 8,050 | 0.4 | 6,000 | 0.7 | 79.72 | ||||||||||||
(Note) Revision to the financial results forecast announced most recently: | No | ||||||||||||||||||||
* Notes: | |||||||||||||||||||||
(1) Changes in significant subsidiaries during the three months ended June 30, 2023 | |||||||||||||||||||||
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | ||||||||||||||||||||
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | No |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: No
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
June 30, 2023: | 75,211,400 | shares |
March 31, 2023: | 75,211,400 | shares |
2) Number of treasury shares at the end of the period: | ||
June 30, 2023: | 445 | shares |
March 31, 2023: | 375 | shares |
3) Average number of shares outstanding during the period: | ||
Three months ended June 30, 2023: | 75,211,008 | shares |
Three months ended June 30, 2022: | 75,396,622 | shares |
- This quarterly financial results are not subject to quarterly review procedure by certified public accountants or auditing firms.
- Explanation regarding the proper use of performance forecasts and other special items
・All projections are based on the information available to management at the time of making this report and are not guarantees of future performance. Uncertainties could cause the actual results of AICHI CORPORATION to differ materially from any projections discussed in this report.
―2―
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Thousands of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Assets | |||
Current assets | |||
Cash and deposits | 1,162,162 | 1,611,596 | |
Deposits paid | 37,865,486 | 42,993,533 | |
Notes and accounts receivable - trade | 23,471,637 | 14,426,091 | |
Merchandise and finished goods | 1,065,423 | 2,063,243 | |
Work in process | 1,251,898 | 1,579,104 | |
Raw materials and supplies | 1,486,946 | 1,583,193 | |
Other | 1,249,447 | 447,713 | |
Total current assets | 67,553,002 | 64,704,476 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 6,615,115 | 6,925,875 | |
Machinery, equipment and vehicles, net | 1,696,350 | 1,623,968 | |
Land | 8,523,400 | 8,522,936 | |
Other, net | 780,173 | 561,012 | |
Total property, plant and equipment | 17,615,039 | 17,633,793 | |
Intangible assets | 601,208 | 598,320 | |
Investments and other assets | |||
Investment securities | 6,959,086 | 8,185,773 | |
Other | 2,973,787 | 3,125,753 | |
Allowance for doubtful accounts | (6,653) | (6,752) | |
Total investments and other assets | 9,926,220 | 11,304,775 | |
Total non-current assets | 28,142,468 | 29,536,889 | |
Total assets | 95,695,470 | 94,241,365 | |
―3―
(Thousands of yen) | |||||
As of March 31, 2023 | As of June 30, 2023 | ||||
Liabilities | |||||
Current liabilities | |||||
Notes and accounts payable - trade | 10,248,973 | 8,890,503 | |||
Income taxes payable | 1,385,807 | 348,843 | |||
Provision for bonuses for directors (and other | 38,000 | 9,500 | |||
officers) | |||||
Provision for product warranties | 153,065 | 136,163 | |||
Other | 3,069,956 | 3,610,581 | |||
Total current liabilities | 14,895,802 | 12,995,592 | |||
Non-current liabilities | |||||
Deferred tax liabilities for land revaluation | 616,302 | 616,302 | |||
Retirement benefit liability | 660,461 | 507,569 | |||
Deferred tax liabilities | 695,862 | 980,731 | |||
Other | 253,294 | 237,180 | |||
Total non-current liabilities | 2,225,920 | 2,341,784 | |||
Total liabilities | 17,121,723 | 15,337,376 | |||
Net assets | |||||
Shareholders' equity | |||||
Share capital | 10,425,325 | 10,425,325 | |||
Capital surplus | 9,923,342 | 9,923,342 | |||
Retained earnings | 54,606,278 | 53,841,430 | |||
Treasury shares | (313) | (372) | |||
Total shareholders' equity | 74,954,632 | 74,189,725 | |||
Accumulated other comprehensive income | |||||
Valuation difference on available-for-sale | 3,882,938 | 4,736,681 | |||
securities | |||||
Revaluation reserve for land | (1,624,044) | (1,624,044) | |||
Foreign currency translation adjustment | 808,182 | 961,282 | |||
Remeasurements of defined benefit plans | 552,038 | 640,342 | |||
Total accumulated other comprehensive income | 3,619,115 | 4,714,262 | |||
Total net assets | 78,573,747 | 78,903,988 | |||
Total liabilities and net assets | 95,695,470 | 94,241,365 | |||
―4―
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)
(Thousands of yen) | |||||
For the three months | For the three months | ||||
ended June 30, 2022 | ended June 30, 2023 | ||||
Net sales | 10,681,825 | 10,606,020 | |||
Cost of sales | 8,731,149 | 8,508,510 | |||
Gross profit | 1,950,676 | 2,097,509 | |||
Selling, general and administrative expenses | 1,247,958 | 1,368,605 | |||
Operating profit | 702,717 | 728,904 | |||
Non-operating income | |||||
Interest income | 1,577 | 1,656 | |||
Dividend income | 66,270 | 64,995 | |||
Share of profit of entities accounted for using equity | 162,046 | 116,394 | |||
method | |||||
Foreign exchange gains | 49,809 | 16,021 | |||
Other | 11,572 | 8,943 | |||
Total non-operating income | 291,276 | 208,011 | |||
Non-operating expenses | |||||
Other | 1,586 | 728 | |||
Total non-operating expenses | 1,586 | 728 | |||
Ordinary profit | 992,407 | 936,187 | |||
Extraordinary income | |||||
Gain on sale of non-current assets | 555 | 763 | |||
Gain on sale of investment securities | 2,537 | - | |||
Total extraordinary income | 3,093 | 763 | |||
Extraordinary losses | |||||
Loss on retirement of non-current assets | 3,087 | 140 | |||
Loss on valuation of investment securities | 5,970 | - | |||
Total extraordinary losses | 9,057 | 140 | |||
Profit before income taxes | 986,442 | 936,811 | |||
Income taxes - current | 236,505 | 397,875 | |||
Income taxes - deferred | 47,208 | (125,225) | |||
Total income taxes | 283,713 | 272,650 | |||
Profit | 702,729 | 664,161 | |||
Profit attributable to owners of parent | 702,729 | 664,161 | |||
―5―
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AICHI Corporation published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 06:59:30 UTC.