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 Non-Consolidated Financial Results
for the Three Months Ended May 31, 2022
(Based on Japanese GAAP)
July 14, 2022 | ||||||||||
Company name: | OXIDE Corporation | |||||||||
Stock exchange listing: | Tokyo | |||||||||
Stock code: | 6521 | URL | https://www.opt-oxide.com | |||||||
Representative: | President and CEO | Yasunori Furukawa | ||||||||
Inquiries: | Vice President and CFO | Masayuki Yamamoto | TEL +81-551-26-0022 | |||||||
Scheduled date to file Quarterly Securities Report: | July 14, 2022 | |||||||||
Scheduled date to commence dividend payments: | - | |||||||||
Preparation of supplementary material on quarterly financial results: | Yes | |||||||||
Holding of quarterly financial results meeting: | Yes | |||||||||
(Amounts less than one million yen are rounded down) | ||||||||||
1. Non-consolidated financial results for the three months ended May 31, 2022 (from March 1, 2022 to May 31, 2022) | ||||||||||
(1) Non-consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||||
Net sales | Operating profit | Ordinary profit | Profit | |||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
Three months ended May 31, 2022 | 1,419 | 23.0 | 324 | 164.5 | 353 | 172.3 | 248 | 101.4 | ||
Three months ended May 31, 2021 | 1,154 | - | 122 | - | 129 | - | 123 | - | ||
Earnings per share | Diluted earnings per share | |||||||||
Yen | Yen | |||||||||
Three months ended May 31, 2022 | 50.53 | 45.74 | ||||||||
Three months ended May 31, 2021 | 28.59 | 24.43 |
Notes: 1. As the Company has not prepared quarterly financial statements for the three months ended May 31, 2020, the percentage of year-on- year change of each figure for the three months ended May 31, 2021, is not shown.
2. Regarding the diluted earnings per share for the three months ended May 31, 2021, as the Company's shares were listed on the Mothers section of the Tokyo Stock Exchange on April 5, 2021, the figure is calculated using the average share price from the date the shares were newly listed to the end of the first quarter of the fiscal year ended February 28, 2022, deemed as the average share price during the period.
- Non-consolidatedfinancial position
Total assets | Net assets | Equity ratio | ||||||||
Millions of yen | Millions of yen | % | ||||||||
As of May 31, 2022 | 9,108 | 4,855 | 53.3 | |||||||
As of February 28, 2022 | 8,710 | 4,587 | 52.7 | |||||||
Reference: Equity | As of May 31, 2022 | ¥4,855 million | ||||||||
As of February 28, 2022 | ¥4,587 million | |||||||||
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 February 28, 2022 | - | 0.00 | - | 0.00 | 0.00 | |||||
Year ending February 28, 2023 | - | |||||||||
Year ending February 28, 2023 (Forecast) | 0.00 | - | 0.00 | 0.00 | ||||||
Note: Revisions to the cash dividend forecast most recently announced: No | ||||||||||
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3. Forecast of non-consolidated financial results for the year ending February 28, 2023 (from March 1, 2022 to February 28, 2023)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit | Earnings per share | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 6,339 | 33.3 | 706 | 18.3 | 695 | 16.0 | 487 | (1.8) | 99.18 |
Note: Revisions to the financial results forecast most recently announced: No
4. Notes
- Application of special accounting methods for preparing quarterly non-consolidated financial statements: No
- 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: | Yes |
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 May 31, 2022 | 4,921,400 | shares | As of February 28, 2022 | 4,902,900 | shares | |
Number of treasury shares at the end of the period | ||||||
As of May 31, 2022 | 25 | shares | As of February 28, 2022 | 25 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended May 31, 2022 | 4,909,940 | shares | Three months ended May 31, 2021 | 4,307,369 | shares |
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Proper use of financial results forecasts, and other special matters
(Caution concerning forward-looking statements)
The forward-looking statements, including the financial results forecasts, contained in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to achieve the stated performance. Actual business and other results may differ substantially due to various factors.
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Quarterly non-consolidated financial statements
Non-consolidated balance sheets
(Thousands of yen) | |||
As of February 28, 2022 | As of May 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 2,146,368 | 1,782,398 | |
Notes and accounts receivable - trade | 622,684 | 623,595 | |
Electronically recorded monetary claims - operating | 23,000 | 31,301 | |
Finished goods | 48,762 | 82,387 | |
Work in process | 1,290,021 | 1,591,794 | |
Raw materials and supplies | 460,466 | 660,309 | |
Other | 169,800 | 223,508 | |
Total current assets | 4,761,103 | 4,995,295 | |
Non-current assets | |||
Property, plant and equipment | |||
Machinery and equipment | 3,132,645 | 3,271,315 | |
Accumulated depreciation | (972,887) | (1,002,827) | |
Machinery and equipment, net | 2,159,758 | 2,268,488 | |
Other | 2,326,501 | 2,344,830 | |
Accumulated depreciation | (911,140) | (935,430) | |
Other, net | 1,415,360 | 1,409,400 | |
Total property, plant and equipment | 3,575,119 | 3,677,888 | |
Intangible assets | 77,885 | 73,143 | |
Investments and other assets | 296,889 | 362,080 | |
Total non-current assets | 3,949,894 | 4,113,112 | |
Total assets | 8,710,998 | 9,108,407 | |
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 266,993 | 433,811 | |
Current portion of bonds payable | 7,000 | 157,000 | |
Current portion of long-term borrowings | 272,326 | 283,946 | |
Income taxes payable | 137,666 | 139,281 | |
Provision for bonuses | 102,000 | 148,000 | |
Provision for repairs | 140,277 | 137,816 | |
Provision for product warranties | 17,347 | 23,588 | |
Other | 842,043 | 825,146 | |
Total current liabilities | 1,785,653 | 2,148,589 | |
Non-current liabilities | |||
Bonds payable | 168,500 | 15,000 | |
Long-term borrowings | 2,157,857 | 2,080,278 | |
Other | 11,556 | 8,655 | |
Total non-current liabilities | 2,337,913 | 2,103,933 | |
Total liabilities | 4,123,567 | 4,252,522 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 1,695,621 | 1,705,796 | |
Capital surplus | 2,152,443 | 2,162,618 | |
Retained earnings | 739,554 | 987,658 | |
Treasury shares | (189) | (189) | |
Total shareholders' equity | 4,587,430 | 4,855,885 | |
Total net assets | 4,587,430 | 4,855,885 | |
Total liabilities and net assets | 8,710,998 | 9,108,407 |
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Non-consolidated statements of income (cumulative)
(Thousands of yen) | |||
Three months ended | Three months ended | ||
May 31, 2021 | May 31, 2022 | ||
Net sales | 1,154,336 | 1,419,954 | |
Cost of sales | 773,218 | 716,614 | |
Gross profit | 381,118 | 703,340 | |
Selling, general and administrative expenses | 258,280 | 378,419 | |
Operating profit | 122,837 | 324,920 | |
Non-operating income | |||
Interest income | 21 | 72 | |
Subsidy income | 44,218 | 41,601 | |
Other | 318 | 6,346 | |
Total non-operating income | 44,558 | 48,020 | |
Non-operating expenses | |||
Interest expenses | 12,924 | 10,831 | |
Foreign exchange losses | - | 6,143 | |
Share issuance costs | 12,769 | 260 | |
Listing expenses | 11,717 | - | |
Other | 289 | 2,586 | |
Total non-operating expenses | 37,701 | 19,822 | |
Ordinary profit | 129,695 | 353,118 | |
Extraordinary income | |||
Gain on sale of non-current assets | - | 5,538 | |
Total extraordinary income | - | 5,538 | |
Extraordinary losses | |||
Loss on sale of non-current assets | - | 141 | |
Total extraordinary losses | - | 141 | |
Profit before income taxes | 129,695 | 358,515 | |
Income taxes - current | 56,481 | 126,322 | |
Income taxes - deferred | (49,963) | (15,911) | |
Total income taxes | 6,517 | 110,410 | |
Profit | 123,177 | 248,104 | |
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Oxide Corporation published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2022 07:53:06 UTC.