Ebara Jitsugyo : Summary of Consolidated Financial Results for the Six Months Ended June 30, 2023(147KB)

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 June 30, 2023 (Based on Japanese GAAP)

				August 3, 2023
Company name:	EBARA JITSUGYO CO.,LTD.
Stock exchange listing:	Tokyo
Stock code:	6328	URL https://www.ejk.co.jp/
Representative:	President and COO	Toshinori Yoshida
Inquiries:	Managing Executive Officer, Head of	Shuji Ohno	TEL [phone]
Planning & Strategy Office
Scheduled date to file Quarterly Securities Report:	August 9, 2023
Scheduled date to commence dividend payments:	September 4, 2023
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	Yes

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended June 30, 2023 (from January 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)				Percentages indicate year-on-year changes
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
Six months ended June 30, 2023	20,599	22.1	2,690	21.1	2,754	19.3	1,908	12.0
Six months ended June 30, 2022	16,864	(11.3)	2,222	(32.1)	2,309	(30.7)	1,703	(33.3)

	Earnings per share	Diluted earnings per share
		Yen				Yen
Six months ended June 30, 2023		159.67				-
Six months ended June 30, 2022		139.20				-
(2) Consolidated financial position
	Total assets			Net assets		Equity ratio
	Millions of yen		Millions of yen		%
As of June 30, 2023	40,055		19,761		49.3
As of December 31, 2022	33,528		18,396		54.9
2. Cash dividends
				Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end
	Yen			Yen			Yen	Yen
Year ended December 31, 2022	-			42.50			-	42.50
Year ending December 31, 2023	-			42.50
Year ending December 31, 2023 (Forecast)							-	42.50

Total

Yen 85.00

85.00

3. Forecast of consolidated financial results for the year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	35,000	15.8	3,500	27.0	3,650	24.6	2,600	19.9	212.33

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4. Notes

1. Changes in significant subsidiaries during the six months ended June 30, 2023 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
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 June 30, 2023	12,930,000	shares	As of December 31, 2022	12,930,000	shares
Number of treasury shares at the end of the period
	As of June 30, 2023	1,012,202	shares	As of December 31, 2022	788,816	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended June 30, 2023	11,952,221	shares	Six months ended June 30, 2022	12,241,157	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of December 31, 2022	As of June 30, 2023
Assets
Current assets
Cash and deposits	11,296	15,722
Notes and accounts receivable - trade, and contract assets	10,631	11,829
Merchandise and finished goods	1,159	1,033
Work in process	331	358
Costs on construction contracts in progress	173	88
Raw materials and supplies	481	524
Other	359	472
Allowance for doubtful accounts	(1)	(1)
Total current assets	24,432	30,028
Non-current assets
Property, plant and equipment
Buildings and structures	3,704	3,730
Accumulated depreciation	(2,020)	(2,074)
Buildings and structures, net	1,684	1,656
Machinery, equipment and vehicles	206	207
Accumulated depreciation	(160)	(167)
Machinery, equipment and vehicles, net	46	39
Tools, furniture and fixtures	691	718
Accumulated depreciation	(599)	(613)
Tools, furniture and fixtures, net	91	104
Land	1,356	1,356
Construction in progress	2	-
Other	7	12
Accumulated depreciation	(1)	(2)
Other, net	6	10
Total property, plant and equipment	3,187	3,167
Intangible assets	86	111
Investments and other assets
Investment securities	4,494	5,403
Insurance funds	410	419
Investment property, net	636	643
Deferred tax assets	117	96
Other	268	288
Allowance for doubtful accounts	(105)	(104)
Total investments and other assets	5,822	6,747
Total non-current assets	9,096	10,026
Total assets	33,528	40,055

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		(Millions of yen)
	As of December 31, 2022	As of June 30, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade	9,809	13,021
Short-term borrowings	1,010	1,010
Current portion of long-term borrowings	80	80
Income taxes payable	329	900
Accrued consumption taxes	21	223
Contract liabilities	1,661	2,509
Provision for loss on construction contracts	22	15
Other	714	840
Total current liabilities	13,647	18,600
Non-current liabilities
Long-term borrowings	91	47
Deferred tax liabilities	868	1,090
Provision for retirement benefits for directors (and other	158	158
officers)
Retirement benefit liability	241	255
Other	122	141
Total non-current liabilities	1,483	1,693
Total liabilities	15,131	20,293
Net assets
Shareholders' equity
Share capital	1,001	1,001
Capital surplus	831	844
Retained earnings	15,700	17,091
Treasury shares	(1,378)	(1,985)
Total shareholders' equity	16,154	16,951
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	2,228	2,790
Remeasurements of defined benefit plans	14	19
Total accumulated other comprehensive income	2,242	2,809
Total net assets	18,396	19,761
Total liabilities and net assets	33,528	40,055

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	June 30, 2022	June 30, 2023
Net sales	16,864	20,599
Cost of sales	11,426	14,455
Gross profit	5,438	6,143
Selling, general and administrative expenses	3,215	3,453
Operating profit	2,222	2,690
Non-operating income
Interest income	0	0
Dividend income	61	62
Rental income from investment property	50	48
Other	9	15
Total non-operating income	122	126
Non-operating expenses
Interest expenses	2	2
Rental expenses on real estate	19	26
Commission expenses	2	24
Foreign exchange losses	8	7
Other	1	1
Total non-operating expenses	35	62
Ordinary profit	2,309	2,754
Extraordinary income
Gain on sale of investment securities	140	-
Total extraordinary income	140	-
Extraordinary losses
Loss on disposal of non-current assets	10	0
Loss on investments in silent partnerships	9	-
Other	0	-
Total extraordinary losses	21	0
Profit before income taxes	2,428	2,754
Income taxes - current	761	853
Income taxes - deferred	(36)	(8)
Total income taxes	724	845
Profit	1,703	1,908
Profit attributable to owners of parent	1,703	1,908

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