Six-Month Consolidated Financial Report
for the Fiscal Year Ending October 31, 2023 (Japan GAAP)
Listed Company Name | Kanamoto Co., Ltd. | June 2, 2023 |
Company Code Number | 9678 | |
Listing Exchanges | Tokyo Stock Exchange, Sapporo Stock Exchange | |
URL | https://www.kanamoto.co.jp | |
Representative | Tetsuo Kanamoto | President and CEO |
Inquiries | Shun Hirose | Director & Corporate Officer, Division Manager, |
Accounting Division | ||
TEL 81-11-209-1600 |
Scheduled date for submission of Quarterly Report | June 13, 2023 |
Scheduled date for commencement of dividend payments | July 4, 2023 |
Preparation of Quarterly Settlement Supplementary Explanatory Materials | Yes |
Quarterly Earnings Briefings (For institutional investors and analysts) | Yes |
(Numbers less than one million yen have been rounded down)
1. Consolidated Operating Results for the Six-Month Period of the Fiscal Year Ending October 31, 2023
(November 1, 2022 - April 30, 2023) | |||||||||||||
(1) Consolidated Operating Results (Cumulative) | (Percentages show the change from the prior year) | ||||||||||||
Net Sales | Operating Profit | Ordinary Profit | Profit Attributable to | ||||||||||
Owners of Parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
Fiscal year ending | |||||||||||||
October 31, 2023: | 97,268 | 3.8 | 5,327 | -24.9 | 5,488 | -26.4 | 2,924 | -35.6 | |||||
Second quarter | |||||||||||||
Fiscal year ended | |||||||||||||
October 31, 2022: | 93,715 | - | 7,098 | -11.9 | 7,457 | -13.5 | 4,540 | -8.2 | |||||
Second quarter | |||||||||||||
(Note) Comprehensive | income (millions | of yen) | |||||||||||
Fiscal year ending October 31, 2023, Second quarter | 3,097 | (-50.7%) | |||||||||||
Fiscal year ended October 31, 2022, Second quarter | 6,284 | (-9.1%) | |||||||||||
Earnings per | Earnings per | ||||||||||||
Share on a Fully | |||||||||||||
Share | |||||||||||||
Diluted Basis | |||||||||||||
Yen | Yen | ||||||||||||
Fiscal year ending | |||||||||||||
October 31, 2023: | 80.23 | - | |||||||||||
Second quarter | |||||||||||||
Fiscal year ended | |||||||||||||
October 31, 2022: | 121.54 | - | |||||||||||
Second quarter |
(Note) As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the fiscal year ended October 31, 2022, the percentage of change for net sales from the results for the six months ended April 30, 2021, which was prior to the application of the said accounting standard, etc. is not shown.
(2) Consolidated Financial Position
Total Assets | Net Assets | Equity Ratio | ||||
Millions of yen | Millions of yen | % | ||||
As of April 30, | 311,509 | 139,632 | 42.0 | |||
2023 | ||||||
As of October 31, | 305,320 | 140,611 | 43.2 | |||
2022 | ||||||
(Reference) Equity (millions of yen) | ||||||
As of April 30, 2023 | 130,737 | |||||
As of October 31, 2022 | 131,958 |
− 1 −
2. Dividends
Annual Dividends per Share | |||||||||
End of | End of | End of | Year-end | Full-year | |||||
first quarter | second quarter | third quarter | |||||||
Yen | Yen | Yen | Yen | Yen | |||||
Fiscal year ended October 31, | - | 35.00 | - | 40.00 | 75.00 | ||||
2022 | |||||||||
Fiscal year ending October 31, | - | 35.00 | |||||||
2023 | |||||||||
Fiscal year ending October 31, | - | 40.00 | 75.00 | ||||||
2023 (projected) | |||||||||
(Note) Has the Company revised its | most recently released dividend projection?: No |
3. Projected Consolidated Operating Results for the Fiscal Year Ending October 31, 2023 (November 1, 2022 - October 31, 2023)
(Percentages show the change from the prior year)
Net Sales | Operating Profit | Ordinary Profit | Profit Attributable to | Earnings per | |||||
Owners of Parent | Share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 198,000 | 5.3 | 14,000 | 5.8 | 14,100 | 2.3 | 8,400 | 0.7 | 230.45 |
(Note) Has the Company revised its most recently released projected consolidated operating results during the quarter?: No
− 2 −
Notes
- Changes in material subsidiaries during the period under review (Changes in specific subsidiaries in conjunction with a change in the scope of consolidation): No
- Application of special accounting method in the preparation of quarterly consolidated financial statements: No
- Changes in accounting principles, changes in accounting estimates and retrospective restatements
- Changes in accounting policy in conjunction with revision of accounting standards: No
- Changes other than the above: No
- Changes in accounting estimates: No
- Retrospective restatements: No
- Number of shares issued (common shares)
- Number of shares issued at the end of the period (including treasury shares)
As of April 30, 2023: | 38,742,241 shares |
As of October 31, 2022: | 38,742,241 shares |
(b) Number of treasury shares at the end of the period | |
As of April 30, 2023: | 2,681,790 shares |
As of October 31, 2022: | 1,799,490 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Fiscal year ending October 31, 2023: Second quarter: | 36,450,921 shares |
Fiscal year ended October 31, 2022: Second quarter: | 37,357,999 shares |
Note: Quarterly earnings reports are not subject to quarterly review by certified public accountants or independent account auditors.
Note: Explanation concerning appropriate use of the projected operating results and other items to note (Note concerning forward-looking statements)
The forward-looking statements, including business results forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. The Company does not guarantee the achievement of the projections. Actual operating results may differ substantially due to a number of factors. Please refer to "1. Qualitative Information Concerning Quarterly Consolidated Operating Results (3) Explanation Concerning Future Forecasts Including Projected Consolidated Operating Results" on page 6 of the Attachments for the conditions used as assumptions for the projected operating results and matters to note before using the projected operating results.
(Methods of obtaining the quarterly settlement supplementary explanatory materials and the content of the quarterly earnings briefings)
The Company plans to hold an online meeting for institutional investors and analysts on Monday, June 5, 2023.
Following the meeting, the Company will upload a video of the meeting on the Company's website as quickly as possible, together with the quarterly earnings briefings materials used that day.
− 3 −
○ | Attachments Table of Contents | ||
1. Qualitative Information Concerning Quarterly Consolidated Operating Results | 5 | ||
(1) | Qualitative Information Concerning Consolidated Operating Results | 5 | |
(2) | Qualitative Information Concerning Consolidated Financial Position | 6 | |
(3) | Explanation Concerning Future Forecasts Including Projected Consolidated Operating Results | 6 | |
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto | 7 | ||
(1) | Quarterly Consolidated Balance Sheets | 7 | |
(2) | Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of | ||
Comprehensive Income | 9 | ||
(Quarterly Consolidated Statements of Income) | 9 | ||
(Consolidated Six-Month Period Ended April 30) | 9 | ||
(Quarterly Consolidated Statements of Comprehensive Income) | 10 | ||
(Consolidated Six-Month Period Ended April 30) | 10 | ||
(3) | Quarterly Consolidated Statements of Cash Flows | 11 | |
(4) | Notes Concerning Quarterly Consolidated Financial Statements | 13 | |
(Notes Relating to the Going Concern Assumption) | 13 | ||
(Note on Significant Changes to Shareholders' Equity) | 13 | ||
(Segment Information) | 13 |
− 4 −
1.Qualitative Information Concerning Quarterly Consolidated Operating Results
(1) Qualitative Information Concerning Consolidated Operating Results
During the six-month period under review, Japan's economy had persisting conditions that demanded close attention, such as uncertainties in overseas economies and heightened geopolitical risks, despite economic activity showing signs of restarting due to the easing of restrictions on movement.
In the construction industry in which the Group is involved, although public sector investment remained firm, and gradual recovery in private sector construction investment continued, the situation remained unpredictable as there were concerns about delays in equipment supply due to rising construction costs and semiconductor supply shortages.
In such circumstances, in order to achieve the goals of its Medium-Term Corporate Management Plan "Creative 60" (FY2020-2024), the Group built a robust foundation that increases earnings without being influenced by changes in the business environment while enhancing utilization rates through the integrated management of assets and establishing an organizational structure for the optimization of rental unit price. Furthermore, the Group worked to solve issues related to the stable supply of rental equipment in relation to the increase of construction demand.
For the six-month period under review, the Group reported net sales of ¥97,268 million, an increase of 3.8% year on year. On the earnings front, partly due to investment in human resources in preparation for the future in addition to increases in depreciation and selling, general and administrative expenses caused by an absorption-type merger within the Group, operating profit was ¥5,327 million, a decrease of 24.9% year on year, ordinary profit was ¥5,488 million, a decrease of 26.4% year on year, and profit attributable to owners of parent was ¥2,924 million, a decrease of 35.6% year on year.
Operating results for each of the Company's business segments were as follows.
< Business related to the Construction Equipment Rental Division >
In the construction-related business, which is Kanamoto's core business, domestic construction investment remained steady, and although there were differences by region, the strength in rental demand for construction equipment returned. Kanamoto progressed with various types of large-scale projects, such as the construction of semiconductor plants and security-related construction in addition to the continuation of redevelopment work in urban areas, extension projects for bullet trains and renewable energy-related work.
Furthermore, the Group promoted technological development and business alliances aimed at realizing DX at construction sites and reducing environmental impact, such as by jointly developing a bar arrangement inspection system using a three-lens camera.
Used construction equipment sales decreased 32.0% year on year, as Kanamoto proceeded with sales in accordance with the initial plan in order to maintain an appropriate asset mix while carrying out the extension of the rental equipment operation period.
Reflecting these factors, the Group posted net sales in the construction-related businesses of ¥88,248 million, an increase of 3.3% year on year, and operating profit of ¥4,507 million, a decrease of 28.4% year on year.
< Other businesses >
In the Group's other businesses, net sales was ¥9,019 million, an increase of 8.7% year on year, and operating profit was ¥564 million, an increase of 0.8% year on year, as the business related to the Steel Sales Division as well as the business related to the Information Products Division and welfare-related business performed favorably.
− 5 −
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Kanamoto Co. Ltd. published this content on 07 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2023 07:39:19 UTC.