Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
May 12, 2023
Consolidated Financial Results | |
for the Fiscal Year Ended March 31, 2023 | |
(Japanese GAAP) | |
Company name: | Prestige International Inc. |
Listing: | Tokyo Stock Exchange |
Securities code: | 4290 |
URL: | http://www.prestigein.com/ |
Representative: | Shinichi Tamagami, Representative Director, President and Group CEO |
Inquiries: | Tsutomu Yoshizawa, Senior manager |
Telephone: | +81-3-5213-826 |
Scheduled date of annual general meeting of shareholders: | June 22, 2023 | |||||||||||||
Scheduled date to commence dividend payments: | June 8, 2023 | |||||||||||||
Scheduled date to file quarterly securities report: | June 23, 2023 | |||||||||||||
Preparation of supplementary material on quarterly financial results Yes | ||||||||||||||
Holding of quarterly financial results briefing: | Yes(for institutional investors and analysts) | |||||||||||||
(Yen amounts are rounded down to millions, unless otherwise noted.) | ||||||||||||||
1. Consolidated financial results for thefiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023 ) | ||||||||||||||
(1) Consolidated operating results | (Percentages indicate year-on-year changes.) | |||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||
owners of parent | ||||||||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
March 31, 2023 | 54,562 | 16.7 | 7,840 | 14.6 | 8,378 | 17.2 | 5,318 | 22.1 | ||||||
March 31, 2022 | 46,744 | 15.1 | 6,842 | 30.7 | 7,151 | 31.2 | 4,357 | 46.8 | ||||||
(Note) Comprehensive income | For the Fiscal year ended March 31, 2023: | ¥6,354 million | [18.7%] | ||||||
For the Fiscal year ended March 31, 2022: | ¥5,354 million | [37.4%] | |||||||
Basic earnings | Diluted earnings | Return on equity | Ratio of ordinary | Ratio of operating | |||||
per share | per share | profit to total assets | profit to net sales | ||||||
Fiscal year ended | Yen | Yen | % | % | % | ||||
March 31, 2023 | 41.62 | 41.45 | 14.5 | 14.7 | 14.4 | ||||
March 31, 2022 | 34.02 | 33.85 | 13.4 | 14.2 | 14.6 | ||||
Reference: Share of profit | (loss) of entities | accounted for using | equity method | ||||||
For the Fiscal year ended March 31, 2023: | ¥322 million | ||||||||
For the Fiscal year ended March 31, 2022: | ¥165 million | ||||||||
(2) Consolidated financial position | |||||||||
Total assets | Net assets | Equity-to-asset ratio | Net assets per share | ||||||
As of | Millions of yen | Millions of yen | % | Yen | |||||
March 31, 2023 | 60,273 | 41,817 | 64.8 | 305.35 | |||||
March 31, 2022 | 54,028 | 36,566 | 63.5 | 268.86 | |||||
Reference: Equity | |||||||||
As of March 31, 2023 : | ¥39,079 million | ||||||||
As of March 31, 2022 : | ¥34,309 million |
1
(3) Consolidated cash flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |
operating activities | investing activities | financing activities | at end of period | |
As of | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
March 31, 2023 | 7,888 | △ 2,637 | △ 2,152 | 21,651 |
March 31, 2022 | 6,610 | △ 4,345 | △ 763 | 18,218 |
2. Cash dividends
Annual dividends per share | Ratio of | |||||||||||||||||
Total cash | Payout ratio | dividends to | ||||||||||||||||
dividends | (Consolidated | net assets | ||||||||||||||||
First | Second | Third quarter- | Fiscal | |||||||||||||||
Total | (Total) | ) | (Consolidated | |||||||||||||||
quarter-end | quarter-end | end | year-end | |||||||||||||||
) | ||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Yen | % | % | |||||||||||
Fiscal year ended | - | 4.00 | - | 4.50 | 8.50 | 1,086 | 25.0 | 3.3 | ||||||||||
March 31, 2022 | ||||||||||||||||||
Fiscal year ended | - | 5.00 | - | 6.00 | 11.00 | 1,407 | 26.4 | 3.8 | ||||||||||
March 31, 2023 | ||||||||||||||||||
Fiscal year ended | ||||||||||||||||||
March 31, 2024 | - | 6.00 | - | 6.00 | 12.00 | 29.5 | ||||||||||||
(Forecast) | ||||||||||||||||||
(Note) Revisions to the | forecast of cash dividends most recently announced: No | |||||||||||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2022 | ||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | ||||||||||||||
owners of parent | per share | |||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | yen | ||||||||||
Half year | 26,500 | 1.2 | 3,800 | △ 1.0 | 4,000 | △ 1.0 | 2,400 | △ 2.4 | 18.78 | |||||||||
Full year | 56,500 | 3.6 | 8,200 | 4.6 | 8,700 | 3.8 | 5,200 | △ 2.2 | 40.70 | |||||||||
(Note) Revision to the | financial results forecast announced most recently: No | |||||||||||||||||
Note: | ||||||||||||||||||
(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change | ||||||||||||||||||
in scope of consolidation): | None | |||||||||||||||||
(2) Changes in accounting policies, changes in accounting estimates, and restatement | ||||||||||||||||||
(i) Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes | |||||||||||||||||
(ii) Changes in accounting policies due to other reasons: | None | |||||||||||||||||
(iii) Changes in accounting estimates: | None | |||||||||||||||||
(iv) Restatement: | None |
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of | March 31, 2023 | 128,560,700 | shares | ||
As of | March 31, 2022 | 128,192,400 | shares | ||
(ii) Number of treasury shares at the end of the period | |||||
As of | March 31, 2023 | 580,708 | shares | ||
As of | March 31, 2022 | 580,708 | shares | ||
(iii) Average number of shares outstanding during the period | |||||
Fiscal year ended | March 31, 2023 | 127,778,100 | shares | ||
Fiscal year ended | March 31, 2022 | 128,069,526 | shares |
*Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
*Proper use of earnings forecasts, and other special matters
The forecasts given in this document are based on the current available information in the company and certain reasonable assumptions to the company. And we don't commit to achieve these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.
2
Consolidated Financial Statements
(1) Consolidated Balance Sheet
(Thousands of yen) | ||
As of March 31, 2022 | As of March 31, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 18,237,698 | 21,671,467 |
Accounts receivable - trade | 4,730,591 | 5,304,236 |
Advances paid | 5,410,483 | 6,549,144 |
Merchandise and finished goods | 40,462 | 69,380 |
Work in process | 141,864 | 173,593 |
Raw materials and supplies | 64,548 | 63,840 |
Other | 3,360,757 | 3,354,858 |
Allowance for doubtful accounts | △783,531 | △1,293,676 |
Total current assets | 31,202,874 | 35,892,843 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 15,336,241 | 15,558,229 |
Accumulated depreciation | △3,847,699 | △4,472,790 |
Buildings and structures, net | 11,488,542 | 11,085,438 |
Machinery, equipment and vehicles | 1,241,905 | 1,380,932 |
Accumulated depreciation | △851,309 | △1,013,462 |
Machinery, equipment and vehicles, | 390,595 | 367,469 |
net | ||
Tools, furniture and fixtures | 2,754,012 | 3,119,112 |
Accumulated depreciation | △1,717,116 | △2,030,158 |
Tools, furniture and fixtures, net | 1,036,895 | 1,088,954 |
Land | 118,653 | 118,653 |
Leased assets | 249,914 | 250,802 |
Accumulated depreciation | △127,808 | △158,728 |
Leased assets, net | 122,106 | 92,074 |
Construction in progress | 70,684 | 944,459 |
Total property, plant and equipment | 13,227,478 | 13,697,049 |
Intangible assets | ||
Goodwill | - | 135,000 |
Other | 1,811,287 | 1,890,878 |
Total intangible assets | 1,811,287 | 2,025,878 |
Investments and other assets | ||
Investment securities | 6,791,947 | 7,655,097 |
Long-term loans receivable | 20,027 | 19,679 |
Deferred tax assets | 259,614 | 272,006 |
Other | 787,985 | 778,154 |
Allowance for doubtful accounts | △72,463 | △67,619 |
Total investments and other assets | 7,787,111 | 8,657,318 |
Total non-current assets | 22,825,877 | 24,380,246 |
Total assets | 54,028,751 | 60,273,090 |
3
(Thousands of yen) | ||
As of March 31, 2022 | As of March 31, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 1,085,324 | 1,349,742 |
Short-term borrowings | 500,000 | - |
Current portion of long-term borrowings | 375,000 | 125,000 |
Lease liabilities | 20,554 | 33,407 |
Income taxes payable | 1,513,110 | 1,365,018 |
Contract liabilities | 4,633,298 | 5,907,561 |
Provision for bonuses | 920,316 | 748,606 |
Reserve for fulfillment of guarantees | 124,846 | 252,391 |
Other | 5,399,503 | 5,920,006 |
Total current liabilities | 14,571,954 | 15,701,735 |
Non-current liabilities | ||
Long-term borrowings | 375,000 | 250,000 |
Lease liabilities | 102,376 | 60,668 |
Deferred tax liabilities | 427,777 | 424,852 |
Retirement benefit liability | 6,494 | 13,545 |
Asset retirement obligations | 1,844,893 | 1,885,046 |
Other | 134,026 | 119,403 |
Total non-current liabilities | 2,890,568 | 2,753,516 |
Total liabilities | 17,462,523 | 18,455,251 |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,519,708 | 1,570,641 |
Capital surplus | 2,788,977 | 2,840,271 |
Retained earnings | 28,685,255 | 32,788,867 |
Treasury shares | △418,158 | △418,158 |
Total shareholders' equity | 32,575,782 | 36,781,620 |
Accumulated other comprehensive income | ||
Valuation difference on available-for- | 608,758 | 591,133 |
sale securities | ||
Foreign currency translation adjustment | 1,124,819 | 1,706,346 |
Total accumulated other comprehensive | 1,733,577 | 2,297,480 |
income | ||
Share acquisition rights | 207,798 | 249,802 |
Non-controlling interests | 2,049,069 | 2,488,934 |
Total net assets | 36,566,228 | 41,817,838 |
Total liabilities and net assets | 54,028,751 | 60,273,090 |
4
- Consolidated Statement of Income and Comprehensive Income (Consolidated Statement of Income)
(Thousands of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2022 | March 31, 2023 | |
Net sales | 46,744,300 | 54,562,956 |
Cost of sales | 35,440,859 | 41,263,500 |
Gross profit | 11,303,441 | 13,299,456 |
Selling, general and administrative expenses | 4,461,254 | 5,458,871 |
Operating profit | 6,842,187 | 7,840,584 |
Non-operating income | ||
Interest income | 3,492 | 6,578 |
Interest on securities | 163,844 | 225,798 |
Dividend income | 27,366 | 30,092 |
Share of profit of entities accounted for | 165,481 | 322,708 |
using equity method | ||
Other | 72,149 | 50,787 |
Total non-operating income | 432,334 | 635,964 |
Non-operating expenses | ||
Interest expenses | 6,157 | 5,327 |
Provision of allowance for doubtful accounts | - | 11,677 |
Foreign exchange losses | - | 40,084 |
Consumption Taxes Ajustment | 59,360 | 14,561 |
Other | 57,030 | 26,240 |
Total non-operating expenses | 122,548 | 97,891 |
Ordinary profit | 7,151,973 | 8,378,657 |
Extraordinary income | ||
Gain on sale of non-current assets | 1,153 | 1,855 |
Subsidy income | 310,911 | 103,857 |
Other | - | 1,130 |
Total extraordinary income | 312,064 | 106,843 |
Extraordinary losses | ||
Loss on sale of non-current assets | 89 | 94 |
Loss on tax purpose reduction entry of non- | 310,911 | 103,857 |
current assets | ||
Impairment losses | 366 | 2,286 |
Other | 34,464 | 3,860 |
Total extraordinary losses | 345,831 | 110,098 |
Profit before income taxes | 7,118,207 | 8,375,402 |
Income taxes - current | 2,470,452 | 2,615,696 |
Income taxes - deferred | △59,257 | △15,578 |
Total income taxes | 2,411,194 | 2,600,117 |
Profit | 4,707,012 | 5,775,284 |
Profit attributable to non-controlling | 349,846 | 456,593 |
interests | ||
Profit attributable to owners of parent | 4,357,165 | 5,318,691 |
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Prestige International Inc. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 07:12:03 UTC.