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 December 31, 2021
(Based on Japanese GAAP)
February 14, 2022 | ||||||||||||||||||||||||||
Company name: | EPCO Co., Ltd. | |||||||||||||||||||||||||
Stock exchange listing: | Tokyo | |||||||||||||||||||||||||
Stock code: | 2311 | URL | http://www.epco.co.jp/ | |||||||||||||||||||||||
Representative: | President and Group CEO | Yoshiyuki Iwasaki | ||||||||||||||||||||||||
Inquiries: | Chief Financial Officer | Shinichiro Yoshihara | TEL +81-3-6853-9165 | |||||||||||||||||||||||
Scheduled date of ordinary general meeting of shareholders: | March 25, 2022 | |||||||||||||||||||||||||
Scheduled date to file Securities Report: | March 25, 2022 | |||||||||||||||||||||||||
Scheduled date to commence dividend payments: | March 28, 2022 | |||||||||||||||||||||||||
Preparation of supplementary material on financial results: | Yes | |||||||||||||||||||||||||
Holding of financial results meeting: | Yes | (for shareholders and institutional investors) | ||||||||||||||||||||||||
(Amounts less than one million yen are rounded down) | ||||||||||||||||||||||||||
1. Consolidated financial results for the year ended December 31, 2021 (from January 1, 2021 to December 31, 2021) | ||||||||||||||||||||||||||
(1) Consolidated financial results | 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 | % | |||||||||||||||||||
Year ended December 31, 2021 | 4,696 | 7.2 | 437 | (0.9) | 370 | (20.3) | 658 | 50.2 | ||||||||||||||||||
Year ended December 31, 2020 | 4,380 | 5.5 | 441 | (21.1) | 465 | (22.1) | 438 | 2.3 | ||||||||||||||||||
Earnings per share | Diluted earnings per | Return on equity | Ordinary | Operating | ||||||||||||||||||||||
share | profit/total assets | profit/net sales | ||||||||||||||||||||||||
Yen | Yen | % | % | % | ||||||||||||||||||||||
Year ended December 31, 2021 | 73.85 | - | 14.1 | 6.3 | 9.3 | |||||||||||||||||||||
Year ended December 31, 2020 | 49.16 | - | 11.8 | 10.3 | 10.1 | |||||||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||||||||||||
As of December 31, 2021 | 6,377 | 5,050 | 79.2 | 566.73 | ||||||||||||||||||||||
As of December 31, 2020 | 5,401 | 4,273 | 79.1 | 479.52 | ||||||||||||||||||||||
(3) Consolidated cash flows | ||||||||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |||||||||||||||||||||||
operating activities | investing activities | financing activities | at end of period | |||||||||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||||||||||||||||||
Year ended December 31, 2021 | 230 | 483 | (267) | 1,794 | ||||||||||||||||||||||
Year ended December 31, 2020 | 513 | (411) | (267) | 1,321 | ||||||||||||||||||||||
2. Cash dividends | ||||||||||||||||||||||||||
Annual dividends per share | Total cash | Dividend | Ratio of | |||||||||||||||||||||||
payout ratio | dividends to | |||||||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | dividends (Total) | (Consolidated) | net assets | |||||||||||||||||||
(Consolidated) | ||||||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |||||||||||||||||||
Year ended December 31, 2020 | - | 12.50 | - | 17.50 | 30.00 | 267 | 61.0 | 7.2 | ||||||||||||||||||
Year ended December 31, 2021 | - | 12.50 | - | 19.50 | 32.00 | 285 | 43.3 | 6.1 | ||||||||||||||||||
Year ending December 31, 2022 (Forecast) | - | 14.00 | - | 18.00 | 32.00 | 77.7 |
1
3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | ||||||
owners of parent | ||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
2,449 | 7.8 | 158 | (22.9) | 145 | (22.2) | 99 | 4.9 | 11.17 | ||
June 30, 2022 | ||||||||||
Full year | 5,105 | 8.7 | 460 | 5.2 | 501 | 35.2 | 366 | (44.3) | 41.17 | |
4. Notes | ||||||||||
(1) Changes in significant subsidiaries during the year ended December 31, 2021 | No | |||||||||
(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 accounting standards and other regulations: | No | |||||||||
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 December 31, 2021 | 9,316,000 | shares | As of December 31, 2020 | 9,316,000 | shares | |
Number of treasury shares at the end of the period | ||||||
As of December 31, 2021 | 404,074 | shares | As of December 31, 2020 | 404,074 | shares | |
Average number of shares during the period | ||||||
Year ended December 31, 2021 | 8,911,926 | shares | Year ended December 31, 2020 | 8,911,940 | shares |
2
Consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | |||
As of December 31, 2020 | As of December 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 1,641,527 | 2,147,833 | |
Notes and accounts receivable - trade | 626,247 | 652,903 | |
Work in process | 96,839 | 102,675 | |
Prepaid expenses | 48,813 | 64,965 | |
Income taxes receivable | 2,965 | 1,283 | |
Other | 65,966 | 94,225 | |
Allowance for doubtful accounts | (1,137) | (2,460) | |
Total current assets | 2,481,221 | 3,061,427 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 372,861 | 383,743 | |
Accumulated depreciation | (145,676) | (175,260) | |
Buildings and structures, net | 227,185 | 208,482 | |
Tools, furniture and fixtures | 481,533 | 503,301 | |
Accumulated depreciation | (313,662) | (378,470) | |
Tools, furniture and fixtures, net | 167,871 | 124,830 | |
Other | 11,430 | 10,622 | |
Accumulated depreciation | (7,561) | (8,279) | |
Other, net | 3,869 | 2,342 | |
Land | 139,000 | 139,000 | |
Total property, plant and equipment | 537,926 | 474,655 | |
Intangible assets | |||
Software | 170,106 | 133,738 | |
Software in progress | 10,304 | 960 | |
Other | 16,408 | 14,676 | |
Total intangible assets | 196,818 | 149,374 | |
Investments and other assets | |||
Investment securities | 1,470,000 | 2,012,320 | |
Shares of subsidiaries and associates | 310,713 | 216,488 | |
Investments in capital of subsidiaries and associates | 183,828 | 232,166 | |
Leasehold and guarantee deposits | 198,931 | 203,681 | |
Deferred tax assets | 21,853 | 26,393 | |
Other | 564 | 624 | |
Total investments and other assets | 2,185,892 | 2,691,673 | |
Total non-current assets | 2,920,637 | 3,315,703 | |
Total assets | 5,401,859 | 6,377,131 |
3
(Thousands of yen) | |||
As of December 31, 2020 | As of December 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 39,696 | 56,447 | |
Accounts payable - other | 126,745 | 129,927 | |
Income taxes payable | 163,996 | 271,500 | |
Advances received | 30,718 | 32,513 | |
Provision for bonuses | 29,014 | 27,419 | |
Provision for shareholder benefit program | 1,580 | - | |
Other | 212,374 | 148,592 | |
Total current liabilities | 604,127 | 666,400 | |
Non-current liabilities | |||
Retirement benefit liability | 31,533 | 34,452 | |
Long-term accounts payable - other | 11,360 | 11,360 | |
Deferred tax liabilities | 481,255 | 614,266 | |
Other | 124 | 14 | |
Total non-current liabilities | 524,273 | 660,093 | |
Total liabilities | 1,128,400 | 1,326,494 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 87,232 | 87,232 | |
Capital surplus | 118,032 | 118,032 | |
Retained earnings | 3,188,966 | 3,579,709 | |
Treasury shares | (202,894) | (202,894) | |
Total shareholders' equity | 3,191,336 | 3,582,080 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 950,441 | 1,242,994 | |
Deferred gains or losses on hedges | (1,105) | (717) | |
Foreign currency translation adjustment | 132,785 | 226,279 | |
Total accumulated other comprehensive income | 1,082,121 | 1,468,556 | |
Total net assets | 4,273,458 | 5,050,636 | |
Total liabilities and net assets | 5,401,859 | 6,377,131 |
4
Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income
(Thousands of yen) | |||
Year ended December 31, 2020 | Year ended December 31, 2021 | ||
Net sales | 4,380,607 | 4,696,287 | |
Cost of sales | 2,914,752 | 3,233,830 | |
Gross profit | 1,465,854 | 1,462,457 | |
Selling, general and administrative expenses | 1,023,865 | 1,024,585 | |
Operating profit | 441,989 | 437,872 | |
Non-operating income | |||
Interest income | 946 | 705 | |
Gain on sale of membership | 5,000 | - | |
Share of profit of entities accounted for using equity method | 11,644 | - | |
Foreign exchange gains | - | 3,618 | |
Subsidy income | 7,779 | 2,243 | |
Other | 4,459 | 865 | |
Total non-operating income | 29,830 | 7,432 | |
Non-operating expenses | |||
Share of loss of entities accounted for using equity method | - | 72,325 | |
Foreign exchange losses | 6,209 | - | |
Other | 170 | 2,094 | |
Total non-operating expenses | 6,380 | 74,419 | |
Ordinary profit | 465,438 | 370,884 | |
Extraordinary income | |||
Gain on sale of businesses | 206,472 | - | |
Gain on sale of investment securities | - | 622,376 | |
Total extraordinary income | 206,472 | 622,376 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 1,985 | 2,451 | |
Total extraordinary losses | 1,985 | 2,451 | |
Profit before income taxes | 669,925 | 990,809 | |
Income taxes - current | 218,956 | 358,207 | |
Income taxes - deferred | 12,887 | (25,500) | |
Total income taxes | 231,843 | 332,707 | |
Profit | 438,081 | 658,101 | |
Profit attributable to owners of parent | 438,081 | 658,101 | |
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
EPCO Co. Ltd. published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 06:13:04 UTC.