Maruwa : 【Financial Results】 Second Quarter of Fiscal Year 2020

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 September 30, 2020 (Based on Japanese GAAP)

October 28, 2020

Company name:

MARUWA CO., LTD.

Stock exchange listing: Tokyo, Nagoya

Stock code:

5344

URL

https://www.maruwa-g.com/

Representative:

President and Representative Director

Sei Kanbe

Inquiries:

Executive Officer

Tamaki Nozoki

TEL [phone]

Scheduled date to file Quarterly Securities Report:

November 9, 2020

Scheduled date to commence dividend payments:

December 4, 2020

Preparation of supplementary material on quarterly financial results:

No

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2020 (from April 1, 2020 to September 30, 2020)

(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 September 30, 2020

19,533

(4.0)

4,685

12.9

4,644

11.2

3,154

10.0

Six months ended September 30, 2019

20,340

4.6

4,148

(6.1)

4,176

(12.1)

2,868

(11.3)

Earnings per share

Diluted earnings per share

Yen

Yen

Six months ended September 30, 2020

255.80

-

Six months ended September 30, 2019

232.51

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of September 30, 2020

74,181

62,464

84.2

As of March 31, 2020

70,681

59,453

84.1

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2020	-	26.00	-	26.00	52.00
Year ending March 31, 2021	-	28.00
Year ending March 31, 2021 (Forecast)			-	28.00	56.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

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	36,500	(11.5)	7,900	(15.5)	7,900	(17.0)	5,450	(7.5)	441.94

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4. Notes
(1)	Changes in significant subsidiaries during the six months ended September 30, 2020	No
	(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
(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:	No
	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 September 30, 2020	12,372,000 shares	As of March 31, 2020		12,372,000	shares
	Number of treasury shares at the end of the period
		As of September 30, 2020	38,198 shares	As of March 31, 2020		40,163 shares
	Average number of shares during the period (cumulative from the beginning of the fiscal year)
		Six months ended September 30, 2020	12,332,859 shares	Six months ended September 30, 2019	12,334,929	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2020	As of September 30, 2020
Assets
Current assets
Cash and deposits	29,334,349	32,791,077
Notes and accounts receivable - trade	9,542,199	8,555,814
Electronically recorded monetary claims -	1,295,434	1,201,831
operating
Merchandise and finished goods	2,061,801	1,785,452
Work in process	2,393,622	2,475,917
Raw materials and supplies	2,756,758	2,511,785
Other	1,757,311	1,365,837
Allowance for doubtful accounts	(8,180)	(7,959)
Total current assets	49,133,297	50,679,756
Non-current assets
Property, plant and equipment
Buildings and structures	12,650,214	12,724,294
Accumulated depreciation	(6,505,584)	(6,695,078)
Buildings and structures, net	6,144,629	6,029,215
Machinery, equipment and vehicles	20,998,043	21,274,287
Accumulated depreciation	(16,567,320)	(16,750,753)
Machinery, equipment and vehicles, net	4,430,722	4,523,534
Land	4,421,234	4,487,945
Construction in progress	3,445,592	5,737,976
Other	3,499,670	3,618,608
Accumulated depreciation	(2,898,143)	(3,050,865)
Other, net	601,527	567,742
Total property, plant and equipment	19,043,706	21,346,414
Intangible assets
Goodwill	195,975	169,251
Other	254,672	241,947
Total intangible assets	450,648	411,199
Investments and other assets	2,053,978	1,743,712
Total non-current assets	21,548,333	23,501,326
Total assets		70,681,631	74,181,083

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			(Thousands of yen)
		As of March 31, 2020	As of September 30, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade	1,898,714	2,148,717
Electronically recorded obligations - operating	1,619,355	1,779,811
Short-term borrowings	900,000	900,000
Current portion of long-term borrowings	-	266,624
Income taxes payable	827,864	1,371,273
Provision for bonuses	608,949	647,419
Provision for bonuses for directors (and other	63,000	5,500
officers)
Other	3,382,929	2,369,151
Total current liabilities	9,300,813	9,488,497
Non-current liabilities
Long-term borrowings	1,200,000	1,733,376
Deferred tax liabilities	351,419	151,897
Other	375,829	342,771
Total non-current liabilities	1,927,248	2,228,044
Total liabilities	11,228,062	11,716,542
Net assets
Shareholders' equity
Share capital	8,646,720	8,646,720
Capital surplus	11,992,492	11,997,067
Retained earnings	40,526,723	43,360,875
Treasury shares	(239,524)	(228,163)
Total shareholders' equity	60,926,411	63,776,500
Accumulated other comprehensive income
Valuation difference on available-for-sale	70,521	131,158
securities
Foreign currency translation adjustment	(1,543,364)	(1,443,116)
Total accumulated other comprehensive income	(1,472,842)	(1,311,958)
Total net assets	59,453,569	62,464,541
Total liabilities and net assets		70,681,631	74,181,083

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