Disclaimer: All financial information has been prepared in accordance with generally accepted accounting principles in Japan. This document is a partial English translation of the Japanese Financial Statements which are filed with Stock Exchanges in Japan on May 14, 2021. The Company provides this translation for your reference and convenience only without any warranty as to its accuracy. In case of any discrepancy between the translation and the Japanese original, the latter shall prevail.
May 14, 2021 | ||
Consolidated and Nonconsolidated Financial Statements | ||
For the fiscal year ended March 31, 2021 ("FY2020") | ||
Company name : Kajima Corporation | Stock exchange listings : Tokyo 1st section, Nagoya 1st section | |
Securities code : 1812 | URL : https://www.kajima.co.jp/ | |
Representative : Yoshikazu Oshimi, President and Representative Director | ||
Inquiries : Sachihiko Mikami, General Manager of Accounting Department, Treasury Division | Tel. +81-(0)3-5544-1111 | |
Date of ordinary stockholders' meeting (as planned) : June 25, 2021 | Dividend payable date (as planned) : June 28, 2021 | |
Annual securities report filing date (as planned) : June 28, 2021 | ||
Supplemental material on financial results : Available |
*Amounts less than one million yen have been rounded down.
1. Consolidated Financial Highlights | |||||||||
(1) Financial Results | % : Representing year-on-year change | ||||||||
Revenues | Operating income | Ordinary income | Net income attributable to | ||||||
owners of the parent | |||||||||
JPY mil | % | JPY mil | % | JPY mil | % | JPY mil | % | ||
FY2020 | 1,907,176 | ( 5.2) | 127,298 | ( 3.6) | 139,729 | ( 4.7) | 98,522 | ( 4.6) | |
FY2019 | 2,010,751 | 1.8 | 131,987 | ( 7.5) | 146,645 | ( 10.0) | 103,242 | ( 6.0) | |
(Note) Comprehensive income (loss) | FY2020 | 118,229 JPY mil 55.2% | FY2019 | 76,187 JPY mil | (32.4%) | ||||||||||||||
Basic net income | Diluted net income | Ratio of net income to | Ordinary income to total | Operating income | |||||||||||||||
per share | per share | owners' equity (ROE) | assets ratio | margin | |||||||||||||||
JPY | JPY | % | % | % | |||||||||||||||
FY2020 | 193.13 | - | 11.8 | 6.4 | 6.7 | ||||||||||||||
FY2019 | 200.99 | - | 13.4 | 6.9 | 6.6 | ||||||||||||||
(Reference) Equity in earnings of unconsolidated subsidiaries and affiliates | FY2020 | 3,527 JPY | mil | FY2019 1,490 | JPY mil | ||||||||||||||
(2) Financial Positions | |||||||||||||||||||
Total assets | Total equity | Owners' equity ratio | Owners' equity per share | ||||||||||||||||
JPY mil | JPY mil | % | JPY | ||||||||||||||||
As of March 31, 2021 | 2,164,806 | 884,806 | 40.4 | 1,731.16 | |||||||||||||||
As of March 31, 2020 | 2,172,108 | 796,020 | 36.5 | 1,544.71 | |||||||||||||||
(Reference) Owners' equity (Total equity less noncontrolling interests) | |||||||||||||||||||
As of March 31, 2021 | 874,839 JPY mil | As of March 31, 2020 | 791,786 JPY mil | ||||||||||||||||
(3) Cash Flows | |||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | ||||||||||||||||
operating activities | investing activities | financing activities | at the end of the period | ||||||||||||||||
JPY mil | JPY mil | JPY mil | JPY mil | ||||||||||||||||
FY2020 | 153,097 | ( 65,434) | ( 39,110) | 300,991 | |||||||||||||||
FY2019 | 53,061 | ( 101,813) | ( 10,866) | 255,646 | |||||||||||||||
2. Dividends | |||||||||||||||||||
Dividends per share | Total | Ratio of total | |||||||||||||||||
Payout ratio | amount of dividends | ||||||||||||||||||
End of Q1 | End of Q2 | End of Q3 | Year-end | Total | dividends paid | ||||||||||||||
to owners' equity | |||||||||||||||||||
JPY | JPY | JPY | JPY | JPY | JPY mil | % | % | ||||||||||||
FY2019 | - | 25.00 | - | 25.00 | 50.00 | 25,676 | 24.9 | 3.3 | |||||||||||
FY2020 | - | 25.00 | - | 29.00 | 54.00 | 27,526 | 28.0 | 3.3 | |||||||||||
FY2021 | - | 27.00 | - | 27.00 | 54.00 | 34.1 | |||||||||||||
(Forecast) | |||||||||||||||||||
3. Forecast of Consolidated Financial Results for the fiscal year ending March 31, 2022 | |||||||||||||||||||
% : Representing year-on-year change | |||||||||||||||||||
Revenues | Operating income | Ordinary income | Net income attributable | Basic net income | |||||||||||||||
to owners of the parent | per share | ||||||||||||||||||
JPY mil | % | JPY mil | % | JPY mil | % | JPY mil | % | JPY | |||||||||||
Full-year | 2,010,000 | 5.4 | 104,000 | ( 18.3) | 114,000 | ( 18.4) | 80,000 | ( 18.8) | 158.31 | ||||||||||
* Notes
- Significant changes in the scope of consolidated subsidiaries : None
-
Changes in accounting policies and accounting estimates, retrospective restatements a. Changes in accounting policies based on revisions of accounting standards : None b. Changes in accounting policies other than "a" above : None
c. Changes in accounting estimates : None
d. Retrospective restatements : None - Number of issued and outstanding shares (common stock)
a. Number of issued and outstanding shares (including treasury stock) | ||||||||||||||||
As of March 31, 2021 | 528,656,011 | As of March 31, 2020 | 528,656,011 | |||||||||||||
b. Number of treasury stock | ||||||||||||||||
As of March 31, 2021 | 23,308,096 | As of March 31, 2020 | 16,077,858 | |||||||||||||
c. Average number of shares | ||||||||||||||||
FY2020 | 510,144,178 | FY2019 | 513,668,363 | |||||||||||||
(Reference) Summary of Nonconsolidated Financial Statements | ||||||||||||||||
1. Nonconsolidated Financial Highlights | ||||||||||||||||
(1) Financial Results | % : Representing year-on-year change | |||||||||||||||
Revenues | Operating income | Ordinary income | Net income | |||||||||||||
JPY mil | % | JPY mil | % | JPY mil | % | JPY mil | % | |||||||||
FY2020 | 1,189,562 | ( 8.8) | 105,146 | ( 5.3) | 114,285 | ( 5.2) | 82,829 | 3.4 | ||||||||
FY2019 | 1,305,057 | 1.9 | 111,044 | ( 7.7) | 120,593 | ( 9.0) | 80,136 | ( 17.5) | ||||||||
Basic net income | Diluted net income | |||||||||||||||
per share | per share | |||||||||||||||
JPY | JPY | |||||||||||||||
FY2020 | 162.06 | - | ||||||||||||||
FY2019 | 155.72 | - | ||||||||||||||
(2) Financial Positions | ||||||||||||||||
Total assets | Total equity | Owners' equity ratio | Owners' equity per share | |||||||||||||
JPY mil | JPY mil | % | JPY | |||||||||||||
As of March 31, 2021 | 1,558,909 | 638,435 | 41.0 | 1,261.00 | ||||||||||||
As of March 31, 2020 | 1,593,643 | 563,176 | 35.3 | 1,096.69 | ||||||||||||
(Reference) Owners' equity | As of March 31, 2021 | 638,435 JPY mil | As of March 31, 2020 | 563,176 JPY mil | |||||||||
2. Forecast of Nonconsolidated Financial Results for the fiscal year ending March 31, 2022 | |||||||||||||
% : Representing year-on-year change | |||||||||||||
Revenues | Operating income | Ordinary income | Net income | Basic net income | |||||||||
per share | |||||||||||||
JPY mil | % | JPY mil | % | JPY mil | % | JPY mil | % | JPY | |||||
Full-year | 1,250,000 | 5.1 | 84,500 | ( 19.6) | 92,500 | ( 19.1) | 66,000 | ( 20.3) | 130.36 | ||||
- These financial statements are outside the scope of audit procedures by certified public accountant or audit corporation.
- Explanation regarding appropriate use of forecasts, and other notes
The forecasts contained herein are based on information available as of the date of this announcement, and the actual results may differ materially from forecasts due to various factors.
Consolidated Financial Statements
(1) Consolidated Balance Sheet
(JPY mil) | ||
As of March 31, 2020 | As of March 31, 2021 | |
Assets | ||
Current assets | ||
Cash and deposits | 262,963 | 307,633 |
Notes and accounts receivable - trade | 734,159 | 602,162 |
Marketable securities | 110 | 325 |
Operational investments in securities | 12,355 | 12,319 |
Inventories - real estate for sale | 62,817 | 78,214 |
Inventories - construction projects in progress | 63,540 | 54,938 |
Inventories - development projects in progress | 74,692 | 103,505 |
Inventories - other | 18,180 | 17,094 |
Other | 121,300 | 87,729 |
Allowance for doubtful accounts | (855) | (980) |
Total current assets | 1,349,264 | 1,262,942 |
Noncurrent assets | ||
Property and equipment | ||
Buildings and structures - net | 117,412 | 125,752 |
Machinery, vehicles, tools, furniture and fixtures - net | 17,526 | 15,960 |
Land | 223,651 | 232,311 |
Construction in progress | 26,165 | 37,388 |
Other - net | 6,292 | 6,542 |
Total property and equipment | 391,049 | 417,955 |
Intangible assets | 11,548 | 11,330 |
Investments and other assets | ||
Investments in securities | 309,623 | 350,351 |
Long-term loans receivable | 50,012 | 62,953 |
Asset for retirement benefits | 642 | 1,534 |
Deferred tax assets | 18,635 | 8,032 |
Other | 44,836 | 52,910 |
Allowance for doubtful accounts | (3,503) | (3,203) |
Total investments and other assets | 420,246 | 472,578 |
Total noncurrent assets | 822,843 | 901,863 |
Total assets | 2,172,108 | 2,164,806 |
-1-
(JPY mil) | ||
As of March 31, 2020 | As of March 31, 2021 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 520,653 | 445,589 |
Short-term loans payable | 151,459 | 143,416 |
Commercial paper | 45,000 | - |
Current portion of bonds payable | - | 10,000 |
Income taxes payable | 30,597 | 27,623 |
Advances received on construction projects in progress | 162,087 | 146,103 |
Advances received on development projects in progress, real estate for | 13,553 | 12,170 |
sale and other | ||
Provision for warranties for completed construction projects | 12,824 | 13,465 |
Provision for loss on construction projects in progress | 12,515 | 14,119 |
Provision for directors' bonuses | 153 | 142 |
Other | 176,565 | 177,448 |
Total current liabilities | 1,125,410 | 990,080 |
Long-term liabilities | ||
Bonds payable | 50,000 | 40,000 |
Long-term loans payable | 80,425 | 123,616 |
Deferred tax liabilities | 605 | 989 |
Deferred tax liabilities on revaluation surplus of land | 19,859 | 20,689 |
Liability for retirement benefits | 62,100 | 62,575 |
Equity loss in excess of investments in and loans to unconsolidated | 1,205 | 1,205 |
subsidiaries and affiliates | ||
Other | 36,482 | 40,844 |
Total long-term liabilities | 250,678 | 289,919 |
Total liabilities | 1,376,088 | 1,280,000 |
Equity | ||
Shareholders' equity | ||
Common stock | 81,447 | 81,447 |
Capital surplus | 43,367 | 43,271 |
Retained earnings | 583,303 | 654,128 |
Treasury stock | (16,420) | (26,172) |
Total shareholders' equity | 691,697 | 752,675 |
Accumulated other comprehensive income (loss) | ||
Unrealized gain (loss) on available-for-sale securities | 84,212 | 112,242 |
Deferred gain (loss) on derivatives under hedge accounting | (239) | (659) |
Revaluation surplus of land | 19,435 | 21,498 |
Foreign currency translation adjustments | (1,400) | (10,352) |
Defined retirement benefit plans | (1,918) | (565) |
Total accumulated other comprehensive income (loss) | 100,089 | 122,163 |
Noncontrolling interests | 4,233 | 9,967 |
Total equity | 796,020 | 884,806 |
Total liabilities and equity | 2,172,108 | 2,164,806 |
-2-
- Consolidated Statement of Income and Consolidated Statement of Comprehensive Income Consolidated Statement of Income
(JPY mil) | ||
FY2019 | FY2020 | |
(Apr 1, 2019 - | (Apr 1, 2020 - | |
Mar 31, 2020) | Mar 31, 2021) | |
Revenues | ||
Construction projects | 1,791,118 | 1,673,594 |
Real estate and other | 219,633 | 233,582 |
Total revenues | 2,010,751 | 1,907,176 |
Cost of revenues | ||
Construction projects | 1,584,538 | 1,477,579 |
Real estate and other | 178,091 | 188,179 |
Total cost of revenues | 1,762,630 | 1,665,759 |
Gross profit | ||
Construction projects | 206,579 | 196,014 |
Real estate and other | 41,541 | 45,402 |
Total gross profit | 248,121 | 241,417 |
Selling, general and administrative expenses | 116,134 | 114,118 |
Operating income | 131,987 | 127,298 |
Nonoperating income | ||
Interest income
Dividends income
Equity in earnings of unconsolidated subsidiaries and affiliates Equity in earnings of partnership
Other
Total nonoperating income
Nonoperating expenses
Interest expense
Provision for doubtful accounts
Loss on investments in silent partnership
Other
Total nonoperating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment securities
Valuation gain on investment securities
Reversal of provision for loss on Anti-Monopoly Act
Reversal of foreign currency translation adjustments Total extraordinary income
Extraordinary losses
Loss on sales of noncurrent assets
Loss on disposals of noncurrent assets
Loss on reduction of noncurrent assets
Loss on sales of investment securities
Valuation loss on investment securities
Loss on impairment of long-lived assets
4,312 | 4,504 |
7,122 | 6,253 |
1,490 | 3,527 |
5,038 | 1,627 |
3,806 | 3,057 |
21,769 | 18,969 |
3,502 | 2,657 |
- | 210 |
911 | 911 |
2,696 | 2,759 |
7,110 | 6,538 |
146,645 | 139,729 |
640 | 2,375 |
855 | 8,129 |
321 | 9 |
2,900 | - |
1,135 | - |
5,854 | 10,514 |
3 | 6 |
1,073 | 293 |
12 | - |
59 | 17 |
1,674 | 3,699 |
14 | 946 |
Litigation settlement | 28 | 33 |
Total extraordinary losses | 2,866 | 4,997 |
Income before income taxes | 149,634 | 145,247 |
Income taxes - current | 49,669 | 47,459 |
Income taxes - deferred | (3,821) | (979) |
Total income taxes | 45,847 | 46,479 |
Net income | 103,786 | 98,767 |
Net income attributable to noncontrolling interests | 544 | 245 |
Net income attributable to owners of the parent | 103,242 | 98,522 |
-3-
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Kajima Corporation published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 14:36:09 UTC.