Summary of Consolidated Financial Results Three Months Ended June 30, 2022 (Based on Japanese GAAP)
August 2, 2022
Company name:
Axial Retailing Inc.
Stock exchange listings: | Tokyo Prime section | ||
Securities code: | 8255 | ||
URL: | https://www.axial-r.com/ | ||
Representative: | Kazuhiko Hara, President and Representative Director | ||
Contact: | Bungo Yamagishi, Senior Managing Director | Tel.+81 258-66-6711 | |
Quarterly statement filing date (scheduled): | August 10, 2022 | ||
Dividend payable date (scheduled): | None | ||
Supplementary material for quarterly materials: | None | ||
Briefing for quarterly results: | None |
(Amounts less than one million yen are rounded down)
1. Consolidated results for the first quarter of the fiscal year ending March 2023 (from April 1, 2022 to June 30, 2022)
- Quarterly consolidated operating results (cumulative)
(% change YoY)
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||
owners of parent | ||||||||||||
1Q FY2023 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
60,872 | 1.3 | 2,413 | -17.5 | 2,585 | -13.3 | 1,734 | -14.3 | |||||
1Q FY2022 | 60,107 | ― | 2,926 | -27.5 | 2,981 | -27.3 | 2,023 | -27.7 | ||||
(Note) | Comprehensive | income: | (1Q FY2023) | 1,971million | yen [6.8%] | (1Q FY2022) 1,846million yen [-37.4%] | ||||||
Basic earnings | Diluted earnings | |||||||||||
per share | per share | |||||||||||
1Q FY2023 | Yen | ― | Yen | |||||||||
75.28 | ||||||||||||
1Q FY2022 | 87.82 | ― | ||||||||||
(Note) | From the beginning of the fiscal year ending March 2022, the "Accounting Standard for Revenue Recognition" has |
been applied. Since the accounting methods used for comparison are different, the rate of increase / decrease in sales for the first quarter of the fiscal year ending March 2022 compared to the same quarter of the previous year is not stated.
(2) Quarterly consolidated financial positions
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||||
1Q FY2023 | Millions of yen | Millions of yen | % | Yen | |||
117,539 | 74,763 | 63.6 | 3,244.70 | ||||
FY 2022 | 116,855 | 74,059 | 63.4 | 3,214.13 | |||
(Reference) | Net assets attributable to owners of parent : (1Q FY2023) | 74,763million yen (FY2022) 74,059million yen |
2. Quarterly Dividends
Dividend per share | ||||||
First quarter | Second quarter | Third quarter | Year end | Annual | ||
FY2022 | Yen | Yen | Yen | Yen | Yen | |
― | 25.00 | ― | 55.00 | 80.00 | ||
FY2023 | ― | |||||
FY2023 Forecast | 25.00 | ― | 55.00 | 80.00 | ||
(Note) | Revision of cash dividend forecast | for this period: | None |
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3. Forecast for the fiscal year ending March 31, 2023 | (% change YoY) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable | Basic earnings | |||||||||
to owners of parent | per share | ||||||||||||
1Q FY2023 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||||
123,000 | 0.3 | 4,900 | -14.4 | 5,000 | -15.8 | 3,300 | -16.8 | 143.22 | |||||
FY2023 | 247,500 | 0.4 | 9,800 | -4.9 | 9,900 | -6.7 | 6,100 | -13.8 | 264.74 | ||||
(Note) Revision of | consolidated | results forecast in this quarter: | None | ||||||||||
※ Notes | |||||||||||||
(1) Material changes in subsidiaries during this period | None | ||||||||||||
(Changes in scope of consolidation resulting from change is subsidiaries): |
- Application of accounting methods used specifically for preparing the consolidated quarterly financial statements: None
- Changes in accounting policies, accounting estimates and retrospective restatement (see below iv )
ⅰ Changes in accounting policies due to revisions of accounting standard: | Yes | |
ⅱ Changes in accounting policies due to reasons other than the above (i) | None | |
ⅲ | Changes in accounting estimates: | None |
ⅳ | Restatement of prior period financial statements | None |
(Note) From the beginning of the fiscal year ending March 2023, "Implementation Guidance on Accounting Standard for Fair Value Measurement" have been applied.
(4) Number of issued shares (common stock)
- Number of issued shares at the end of fiscal year (including treasury stock)
(1Q FY2023) | 23,388,039shares | (FY2022) | 23,388,039shares |
- Number of shares of treasury stock at the end of fiscal year
(1Q FY2023) | 346,333shares | (FY2022) | 346,283shares |
- Average number of shares during the period (cumulative)
(1Q FY2023) | 23,041,729shares | (1Q FY2022) | 23,041,896shares |
- This quarterly earnings release is not subject to audit procedures to be performed by certified public accountants or an audit firm.
-
Explanation relating to the appropriate use of earnings forecasts, and other noteworthy items
Forward-looking statements in this earnings release, such as forecasts of results of operations, are based on the information currently available and certain assumptions that we regard as reasonable and therefore actual results may differ materially from those contained in or suggested by any forward-looking statements. - This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
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Consolidated Financial Statements
1 Consolidated Balance Sheet
(Yen million) | ||
Previous year | Current Q1 period | |
(As of Mar 31, 2022) | (As of Jun 30, 2022) | |
Assets | ||
Current assets | ||
Cash and deposits | 18,452 | 18,205 |
Notes and accounts receivable - trade | 4,154 | 3,986 |
Lease investment assets | 634 | 610 |
Merchandise and finished goods | 4,905 | 5,375 |
Work in process | 23 | 29 |
Raw materials and supplies | 359 | 359 |
Income tax refund receivable | 458 | 563 |
Other | 3,438 | 2,952 |
Allowance for doubtful accounts | -3 | -2 |
Total current assets | 32,423 | 32,079 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 39,256 | 39,521 |
Machinery, equipment and vehicles, net | 627 | 613 |
Land | 21,244 | 21,243 |
Leased assets, net | 2,590 | 2,525 |
Construction in progress | 903 | 1,329 |
Other, net | 2,832 | 2,837 |
Total property, plant and equipment | 67,453 | 68,071 |
Intangible assets | ||
Goodwill | 2 | 2 |
Other | 2,452 | 2,471 |
Total intangible assets | 2,455 | 2,474 |
Investments and other assets | ||
Investment securities | 2,964 | 3,319 |
Long-term loans receivable | 9 | 8 |
Retirement benefit asset | 145 | 153 |
Deferred tax assets | 3,439 | 3,466 |
Lease and guarantee deposits | 6,879 | 6,904 |
Other | 1,130 | 1,081 |
Allowance for doubtful accounts | -45 | -20 |
Total investments and other assets | 14,523 | 14,913 |
Total non-current assets | 84,432 | 85,459 |
Total assets | 116,855 | 117,539 |
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(Yen million) | ||||
Previous year | Current Q1 period | |||
(As of Mar 31, 2022) | (As of Jun 30, 2022) | |||
Liabilities | ||||
Current liabilities | ||||
Accounts payable - trade | 15,576 | 16,256 | ||
Contract liabilities | 680 | 661 | ||
Lease obligations | 375 | 355 | ||
Income taxes payable | 1,254 | 1,040 | ||
Provision for bonuses for directors (and other officers) | 346 | 74 | ||
Provision for bonuses | 2,193 | 2,679 | ||
Other | 7,839 | 7,315 | ||
Total current liabilities | 28,266 | 28,383 | ||
Non-current liabilities | ||||
Lease obligations | 2,839 | 2,764 | ||
Asset retirement obligations | 5,916 | 5,910 | ||
Long-term guarantee deposits | 5,608 | 5,555 | ||
Provision for retirement benefits for directors (and other officers) | 36 | ― | ||
Retirement benefit liability | 2 | 2 | ||
Other | 127 | 160 | ||
Total non-current liabilities | 14,530 | 14,392 | ||
Total liabilities | 42,796 | 42,775 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 3,159 | 3,159 | ||
Capital surplus | 15,749 | 15,749 | ||
Retained earnings | 54,963 | 55,431 | ||
Treasury shares | -1,226 | -1,226 | ||
Total shareholders' equity | 72,647 | 73,114 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 1,137 | 1,389 | ||
Adjustments related to retirement benefits | 274 | 260 | ||
Total accumulated other comprehensive income | 1,412 | 1,649 | ||
Total net assets | 74,059 | 74,763 | ||
Total liabilities and net assets | 116,855 | 117,539 |
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- Consolidated Statements of Income and Comprehensive Income Consolidated Income Statement
(Yen million) | ||
Previous Q1 period | Current Q1 period | |
(From Apr 1, 2021 | (From Apr 1, 2022 | |
To Jun 30, 2021) | To Jun 30, 2022) | |
Net sales | 60,107 | 60,872 |
Cost of sales | 42,440 | 43,060 |
Gross profit | 17,666 | 17,811 |
Selling, general and administrative expenses | ||
Employees' salaries | 2,369 | 2,488 |
Miscellaneous salaries and wages | 4,264 | 4,373 |
Provision for bonuses for directors (and other officers) | 99 | 74 |
Provision for bonuses | 925 | 928 |
Provision for retirement benefits for directors (and other officers) | 0 | ― |
Retirement benefit expenses | 238 | 200 |
Rent expenses on land and buildings | 1,297 | 1,326 |
Depreciation | 1,077 | 1,124 |
Amortization of goodwill | ― | 0 |
Provision of allowance for doubtful accounts | 0 | ― |
Other | 4,467 | 4,881 |
Total selling, general and administrative expenses | 14,739 | 15,398 |
Operating profit | 2,926 | 2,413 |
Non-operating income | ||
Interest income | 11 | 9 |
Dividend income | 36 | 36 |
Insurance income | 14 | 102 |
Other | 13 | 34 |
Total non-operating income | 76 | 183 |
Non-operating expenses | ||
Interest expenses | 13 | 11 |
Loss on cancellation of contracts | 8 | ― |
Other | 0 | 0 |
Total non-operating expenses | 21 | 12 |
Ordinary profit | 2,981 | 2,585 |
Extraordinary income | ||
Gain on sale of non-current assets | 0 | ― |
Total extraordinary income | 0 | ― |
Extraordinary losses | ||
Loss on retirement of non-current assets | 1 | 3 |
Impairment losses | 0 | 26 |
Loss on valuation of investment securities | 7 | 1 |
Total extraordinary losses | 9 | 31 |
Profit before income taxes | 2,971 | 2,553 |
Income taxes - current | 870 | 944 |
Income taxes - deferred | 77 | -125 |
Total income taxes | 947 | 819 |
Net profit | 2,023 | 1,734 |
Profit attributable to non-controlling interests | ― | ― |
Profit attributable to owners of parent | 2,023 | 1,734 |
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Axial Retailing Inc. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 06:09:26 UTC.