Consolidated Financial Results
for the Six Months Ended June 30, 2023
[Japanese GAAP]
August 9, 2023 | |
Company name: ISEKI&CO., LTD. | |
Stock exchange listing: Tokyo | |
Code number: 6310 | |
URL: https://www.iseki.co.jp | |
Representative: Shiro Tomiyasu | ,President and Representative Director |
Contact: Yoshikazu Ogusu | ,General Manager of Financial Department |
Phone: +81-3-5604-7671
Scheduled date of filing quarterly securities report: August 9, 2023
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended June 30, 2023 (January 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 | ||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
June 30, 2023 | 92,392 | 6.5 | 2,741 | 6.8 | 3,003 | (9.8) | 1,939 | (24.8) | ||
June 30, 2022 | 86,721 | 0.1 | 2,567 | (45.6) | 3,328 | (39.6) | 2,578 | (37.5) |
(Note) Comprehensive income: | Six months ended June 30, 2023: |
Six months ended June 30, 2022: |
¥ | 3,551 million | [ | 19.0%] |
¥ | 2,985 million | [ | (35.6) %] |
Basic earnings | Diluted earnings per | |
per share | share | |
Six months ended | Yen | Yen |
June 30, 2023 | 85.75 | 85.73 |
June 30, 2022 | 114.04 | 114.00 |
(2) Consolidated Financial Position
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||
As of | Millions of yen | Millions of yen | % | Yen | |
June 30, 2023 | 218,611 | 75,133 | 32.2 | 3,116.22 | |
December 31, 2022 | 206,491 | 72,345 | 32.9 | 3,006.74 | |
(Reference) Equity: As of | June 30, 2023: | ¥ | 70,480 million | ||
As of | December 31, 2022: | ¥ | 68,002 million |
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2. Dividends
Annual dividends | |||||||
1st | 2nd | 3rd | Year-end | Total | |||
quarter-end | quarter-end | quarter-end | |||||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended December 31, 2022 | - | - | - | 30.00 | 30.00 | ||
Fiscal year ending December 31, 2023 | - | - | |||||
Fiscal year ending December 31, 2023 | - | 30.00 | 30.00 | ||||
(Forecast) | |||||||
(Note) Revision to the forecast for dividends announced most recently: | No |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023(January 1, 2023 to December 31, 2023) (% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||||||
owners of parent | per share | ||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
Full year | 176,500 | 5.9 | 4,500 | 27.3 | 4,000 | 6.3 | 2,600 | (36.9) | 114.97 | ||||
(Note) Revision to the financial results forecast announced most recently: | No | ||||||||||||
* Notes: | |||||||||||||
(1) Changes in significant subsidiaries during the six months ended June 30, 2023 | No | ||||||||||||
(changes in specified subsidiaries resulting in changes in scope of consolidation): | |||||||||||||
New | - | (Company name: | ) | ||||||||||
Exclusion: | - | (Company name: | ) | ||||||||||
(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: Yes
- 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: | 22,984,993 | shares |
December 31, 2022: | 22,984,993 | shares |
2) Number of treasury shares at the end of the period: | ||
June 30, 2023: | 367,618 | shares |
December 31, 2022: | 368,346 | shares |
3) Average number of shares outstanding during the period: | ||
Six months ended June 30, 2023: | 22,616,898 | shares |
Six months ended June 30, 2022: | 22,614,492 | shares |
- The total number of treasury shares at the end of the period includes the Company's shares held by the "Board Benefit Trust" (254,700 shares for the period ended June 30, 2023, 255,800 shares for the period ended December 31, 2022). In addition, the Company's shares held by the "Board Benefit Trust" are included in the number of treasury shares deducted for the calculation of the average number of shares during the period.
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Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Millions of yen) | ||||
As of December 31, 2022 | As of June 30, 2023 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 10,749 | 8,806 | ||
Notes and accounts receivable - trade, and contract | 27,574 | 38,372 | ||
assets | ||||
Merchandise and finished goods | 53,562 | 57,169 | ||
Work in process | 10,335 | 10,506 | ||
Raw materials and supplies | 1,434 | 1,448 | ||
Other | 5,792 | 3,937 | ||
Allowance for doubtful accounts | (33) | (54) | ||
Total current assets | 109,414 | 120,187 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 26,271 | 26,476 | ||
Land | 44,744 | 44,762 | ||
Other, net | 12,902 | 13,192 | ||
Total property, plant and equipment | 83,919 | 84,431 | ||
Intangible assets | 2,309 | 2,415 | ||
Investments and other assets | ||||
Investment securities | 5,686 | 6,677 | ||
Other | 5,816 | 5,611 | ||
Allowance for doubtful accounts | (654) | (712) | ||
Total investments and other assets | 10,848 | 11,576 | ||
Total non-current assets | 97,076 | 98,423 | ||
Total assets | 206,491 | 218,611 |
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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 | 19,457 | 17,110 | |||
Electronically recorded obligations - operating | 26,042 | 26,004 | |||
Short-term loans payable | 26,754 | 33,258 | |||
Current portion of long-term loans payable | 13,537 | 8,882 | |||
Income taxes payable | 588 | 985 | |||
Provision for bonuses | 566 | 802 | |||
Other | 11,241 | 12,657 | |||
Total current liabilities | 98,189 | 99,701 | |||
Non-current liabilities | |||||
Long-term loans payable | 20,811 | 28,865 | |||
Deferred tax liabilities for land revaluation | 4,097 | 4,097 | |||
Provision for retirement benefits for directors (and | 163 | 157 | |||
other officers) | |||||
Provision for share awards for directors (and other | 18 | 29 | |||
officers) | |||||
Retirement benefit liability | 3,244 | 3,107 | |||
Asset retirement obligations | 908 | 913 | |||
Other | 6,711 | 6,604 | |||
Total non-current liabilities | 35,956 | 43,775 | |||
Total liabilities | 134,146 | 143,477 | |||
Net assets | |||||
Shareholders' equity | |||||
Share capital | 23,344 | 23,344 | |||
Capital surplus | 13,139 | 13,139 | |||
Retained earnings | 21,131 | 22,384 | |||
Treasury shares | (591) | (590) | |||
Total shareholders' equity | 57,023 | 58,278 | |||
Accumulated other comprehensive income | |||||
Valuation difference on available-for-sale | 482 | 1,170 | |||
securities | |||||
Deferred gains or losses on hedges | 8 | (119) | |||
Revaluation reserve for land | 8,835 | 8,835 | |||
Foreign currency translation adjustment | 1,142 | 1,869 | |||
Remeasurements of defined benefit plans | 510 | 445 | |||
Total accumulated other comprehensive income | 10,978 | 12,202 | |||
Subscription rights to shares | 12 | 12 | |||
Non-controlling interests | 4,330 | 4,640 | |||
Total net assets | 72,345 | 75,133 | |||
Total liabilities and net assets | 206,491 | 218,611 |
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Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)
(Millions of yen) | ||
For the six months | For the six months | |
ended June 30, 2022 | ended June 30, 2023 | |
Net sales | 86,721 | 92,392 |
Cost of sales | 61,545 | 65,131 |
Gross profit | 25,176 | 27,260 |
Selling, general and administrative expenses | 22,609 | 24,519 |
Operating profit | 2,567 | 2,741 |
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Commission for syndicated loans
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on change in equity
Other
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets Impairment losses
69 | 89 |
136 | 215 |
766 | 877 |
486 | 429 |
1,459 | 1,611 |
309 | 546 |
185 | 193 |
63 | 425 |
140 | 183 |
698 | 1,350 |
3,328 | 3,003 |
27 | 20 |
41 | - |
0 | - |
69 | 20 |
65 | 54 |
142 | 63 |
Total extraordinary losses | 207 | 118 |
Profit before income taxes | 3,189 | 2,905 |
Income taxes - current | 928 | 996 |
Income taxes - deferred | (332) | (145) |
Total income taxes | 595 | 851 |
Profit | 2,594 | 2,054 |
Profit attributable to non-controlling interests | 15 | 114 |
Profit attributable to owners of parent | 2,578 | 1,939 |
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Iseki & Co. Ltd. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 06:16:30 UTC.