December 13, 2021
CRE Inc.
Summary of Financial Statements (Unaudited)
For the First Quarter of the Fiscal Year ending July 31, 2022
(Translated from the Japanese original)
Corporate Information
Code: 3458 Listing: First Section of the Tokyo Stock Exchange (URL https://www.cre-jpn.com/english/)
Representative: Tadahide Kameyama, Representative Director, President
Contact: Hidetoshi Nagahama, Director
E-mail:ir@cre-jpn.com
Anticipated date for filing Shihanki Hokokusho (a Japanese-language quarterly business report): December 14, 2021
Expected date of payment for dividends: ―
Preparation of supplementary explanation material for quarterly financial results: Yes
Presentation meeting for quarterly financial results: No
(Rounded down to the nearest million)
1. Consolidated Performance for the first quarter of Fiscal 2022 (August 1, 2021 through October 31, 2021)
(1) Consolidated Operating Results (accumulated total)
(Percentages represent changes from corresponding period of previous year)
Net income attributable | |||||||||
Net sales | Operating profit | Recurring profit | to owners of the parent | ||||||
company | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
First quarter of Fiscal 2022 | 30,743 | 276.5 | 5,787 | 730.6 | 5,551 | 711.2 | 4,151 | 604.8 | |
First quarter of Fiscal 2021 | 8,165 | 40.5 | 696 | 103.5 | 684 | 96.6 | 589 | 140.1 | |
(Note) Comprehensive income: | 4,372 million yen | (―%) for the first quarter of fiscal 2022 | |||||||
276 million yen ((45.9)%) for the first quarter of fiscal 2021 | |||||||||
Net income per share | Fully diluted net | ||||||||
income per share | |||||||||
Yen | Yen | ||||||||
First quarter of Fiscal 2022 | 150.38 | 150.16 | |||||||
First quarter of Fiscal 2021 | 21.57 | 21.54 | |||||||
(Note) CRE applies "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, issued March 31, 2020), effective from the first quarter of fiscal 2022, ending July 31, 2022. All numbers presented in this report for the first quarter of fiscal 2022 reflect application of this accounting standard.
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | |
Millions of yen | Millions of yen | % | |
First quarter of Fiscal 2022 | 96,593 | 34,209 | 35.3 |
Fiscal 2021 | 99,041 | 26,746 | 26.9 |
(Reference) Equity capital: 34,125 million yen for the first quarter of fiscal 2022, 26,662 million yen for fiscal 2021
(Note) CRE applies "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, issued March 31, 2020), effective from the first quarter of fiscal 2022, ending July 31, 2022. All numbers presented in this report for the first quarter of fiscal 2022 reflect application of this accounting standard.
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2. Payment of Dividends
Dividends per share | |||||||||||
First quarter- | At end of first | Third quarter- | Year-end | For the year | |||||||
end | half | end | |||||||||
yen | yen | yen | yen | yen | |||||||
Fiscal 2021 | ― | 0.00 | ― | 23.00 | 23.00 | ||||||
Fiscal 2022 | ― | ||||||||||
Fiscal 2022 | 0.00 | ― | 24.00 | 24.00 | |||||||
(Estimated) | |||||||||||
(Note) Change in the latest release of dividend forecast: None |
3. Anticipated Consolidated Results for Fiscal 2022 (August 1, 2021 through July 31, 2022)
(Percentages represent changes from corresponding period of previous year)
Net sales | Operating profit | Recurring profit | |||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
Full year | 62,100 | 30.6 | 8,800 | 52.4 | 7,800 | 46.8 | |||||||
Net income attributable to owners | Net income per share | ||||||||||||
of the parent company | |||||||||||||
Millions of yen | % | Yen | |||||||||||
Full year | 5,600 | 56.7 | 191.12 | ||||||||||
(Note) Change in the latest release of consolidated results forecast: Yes
Please refer to "Notice Concerning Revision of Earnings Forecast" announced on December 13, 2021 about anticipated consolidated results for Fiscal 2022.
Calculation of net income per share (anticipated) for fiscal 2022, ending July 31, 2022, takes into consideration an increase in the number of shares associated with issuance of new shares through a public offering and third-party allocation of shares for which payment was completed in October 2021, in addition to an increase in the number of shares reflecting third-party allocation related to a secondary offering by way of over- allotment, for which payment was completed in November 2021.
*Notes:
-
Changes in significant subsidiaries during this quarter: None
(Changes in specified subsidiaries involving change in consolidation scope) - Adoption of accounting methods specific to quarterly consolidated financial statements: Yes
-
Changes in accounting policy, changes in accounting estimate and retrospective restatement 1. Changes associated with revision of accounting standards, etc: Yes
2. Changes other than 1: None
3. Changes in accounting estimates: None
4. Restatements: None - Number of outstanding shares (common stock)
-
Number of outstanding shares, including treasury stock, at end of term: 29,629,100 shares at October 31, 2021
27,468,800 shares at July 31, 2021 - Number of shares of treasury stock at end of term:
5,145 shares at October 31, 2021
4,311 shares at July 31, 2021
3. Average outstanding number of shares (quarterly cumulative period): 27,604,864 shares at October 31, 2021
27,303,784 shares at October 31, 2020
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*This quarterly financial report falls outside the quarterly review procedures.
*Information concerning proper use of forward-looking statements and other important matters
This report contains forward-looking statements about plans and expectations pertaining to CRE's business activities, based on information available to management at the time of preparation and on certain assumptions that management believes to be reasonable. These forward-looking statements are not guarantees of future performance, and actual results, performance, achievements and financial position may differ materially from statements expressed or implied herein due to various factors.
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Quarterly Consolidated Financial Statements | ||
(1) Quarterly Consolidated Balance Sheets | ||
Fiscal 2021 | Fiscal 2022 | |
As of July 31, 2021 | As of October 31, 2021 | |
Millions of yen | Millions of yen | |
Assets | ||
Current assets | ||
Cash and deposits | 19,473 | 25,793 |
Accounts receivable-trade | 709 | ― |
Notes and accounts receivable - trade, and contract assets | ― | 451 |
Notes receivable-trade and accounts receivable from | 473 | ― |
completed construction contracts | ||
Accounts receivable from completed construction contracts | ― | 735 |
Real estate for sale | 24,920 | 7,426 |
Real estate for sale in process | 27,342 | 35,724 |
Advance payments-trade | 1,983 | 1,619 |
Prepaid expenses | 1,360 | 1,386 |
Others | 551 | 502 |
Allowance for doubtful accounts | (25) | (25) |
Total current assets | 76,790 | 73,613 |
Fixed assets | ||
Tangible fixed assets | ||
Buildings and structures | 4,308 | 4,319 |
Accumulated depreciation | (2,062) | (2,100) |
Buildings and structures (net) | 2,245 | 2,218 |
Machinery, equipment and vehicles | 416 | 415 |
Accumulated depreciation | (274) | (279) |
Machinery, equipment and vehicles (net) | 141 | 136 |
Tools, furniture and fixtures | 214 | 239 |
Accumulated depreciation | (139) | (150) |
Tools, furniture and fixtures (net) | 74 | 89 |
Land | 1,896 | 1,896 |
Lease assets | 493 | 493 |
Accumulated depreciation | (285) | (293) |
Lease assets (net) | 207 | 200 |
Total tangible fixed assets | 4,565 | 4,540 |
Intangible fixed assets | ||
Goodwill | 1,290 | 1,226 |
Others | 340 | 384 |
Total intangible assets | 1,630 | 1,611 |
Investments and other fixed assets | ||
Investment securities | 7,884 | 8,301 |
Claims provable in bankruptcy, claims provable in | 33 | 33 |
rehabilitation and other | ||
Long-term prepaid expenses | 1,014 | 937 |
Deferred tax assets | 24 | 23 |
Lease and guarantee deposits | 7,022 | 7,457 |
Others | 85 | 85 |
Allowance for doubtful accounts | (36) | (36) |
Total investments and other fixed assets | 16,028 | 16,802 |
Total fixed assets | 22,224 | 22,954 |
Deferred assets | ||
Bond issuance cost | 26 | 24 |
Total deferred assets | 26 | 24 |
Total assets | 99,041 | 96,593 |
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Fiscal 2021 | Fiscal 2022 | |
As of July 31, 2021 | As of October 31, 2021 | |
Millions of yen | Millions of yen | |
Liabilities | ||
Current liabilities | ||
Accounts payable-trade | 7,018 | 6,835 |
Accounts payable for construction contracts | 157 | 577 |
Short-term loans payable | 600 | 300 |
Current portion of long-term loans payable | 2,050 | 2,291 |
Lease obligations | 36 | 37 |
Accrued corporate and other taxes | 1,027 | 2,082 |
Deposits received | 1,498 | 605 |
Unearned revenue | 1,808 | 1,750 |
Allowance for employees' bonuses | 68 | 108 |
Allowance for directors' bonuses | 300 | ― |
Allowance for sublease losses | 13 | 25 |
Allowance for loss on construction contracts | 9 | 9 |
Others | 386 | 1,267 |
Total current liabilities | 14,975 | 15,892 |
Fixed liabilities | ||
Bonds payable | 3,000 | 3,000 |
Long-term loans payable | 44,002 | 33,661 |
Lease obligations | 267 | 258 |
Liability for retirement benefits | 255 | 259 |
Allowance for loss on guarantees | 30 | 31 |
Asset retirement obligations | 274 | 285 |
Allowance for sublease losses | 15 | 14 |
Lease and guarantee deposits received | 7,931 | 7,982 |
Deferred tax liabilities | 234 | 319 |
Investment deposit in silent partnership | 1,064 | 446 |
Others | 241 | 232 |
Total fixed liabilities | 57,319 | 46,491 |
Total liabilities | 72,295 | 62,384 |
Net assets | ||
Shareholders' equity | ||
Common stock | 3,071 | 4,927 |
Capital surplus | 5,031 | 6,887 |
Retained earnings | 17,157 | 20,687 |
Treasury stock | (0) | (0) |
Total shareholders' equity | 25,260 | 32,501 |
Accumulated other comprehensive income | ||
Unrealized gains (losses) on investment securities | 1,470 | 1,657 |
Deferred gains (losses) on hedges | (25) | (29) |
Foreign currency translation adjustment | (41) | (3) |
Total accumulated other comprehensive income | 1,402 | 1,624 |
Non-controlling interests | ||
83 | 83 | |
Total net assets | 26,746 | 34,209 |
Total liabilities and net assets | 99,041 | 96,593 |
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CRE Inc. published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 06:55:12 UTC.