Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
Consolidated Financial Results
for the Three Months Ended June 30, 2020
[Japanese GAAP]
July 31, 2020
Company name: PROTO CORPORATION | |
Stock exchange listing: Tokyo,Nagoya | |
Code number: 4298 | |
URL: https://www.proto-g.co.jp/ | |
Representative: Kenji Kamiya | President |
Contact: Akito Ode | Executive officer |
Phone: 052-934-2000
Scheduled date of filing quarterly securities report: August 07, 2020
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes
(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2020 (April 01, 2020 to June 30, 2020)
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||
owners of parent | |||||||||||
Three months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
June 30, 2020 | 13,518 | (8.0) | 1,502 | 3.7 | 1,554 | 8.2 | 1,017 | (1.8) | |||
June 30, 2019 | 14,698 | (7.1) | 1,448 | 14.6 | 1,436 | 1.1 | 1,035 | 13.2 |
(Note) Comprehensive income: | Three months ended June 30, 2020: |
Three months ended June 30, 2019: |
¥ | 1,138 million | [ | 14.3%] |
¥ | 996 million | [ | 8.6%] |
Basic earnings | Diluted earnings per | ||
per share | share | ||
Three months ended | Yen | Yen | |
June 30, 2020 | 25.34 | - | |
June 30, 2019 | 25.82 | - |
(Note) PROTO CORPORATION carried out a 2-for-1 split of common shares on July 1, 2019.
Net income per share was calculated under the assumption that said share split had been conducted at the beginning of the previous consolidated accounting year.
(2) Consolidated Financial Position
Total assets | Net assets | Capital adequacy ratio | ||
As of | Million yen | Million yen | % | |
June 30, 2020 | 44,535 | 32,520 | 73.0 | |
March 31, 2020 | 44,726 | 31,932 | 71.3 | |
(Reference) Equity: As of | June 30, 2020: | ¥ | 32,493 million | |
As of | March 31, 2020: | ¥ | 31,903 million |
2. Dividends
Annual dividends | ||||||||
1st | 2nd | 3rd | Year-end | Total | ||||
quarter-end | quarter-end | quarter-end | ||||||
Yen | Yen | Yen | Yen | Yen | ||||
Fiscal year ended March 31, 2020 | - | 13.75 | - | 13.75 | 27.50 | |||
Fiscal year ending March 31, 2021 | - | |||||||
Fiscal year ending March 31, 2021 | 12.50 | - | 12.50 | 25.00 | ||||
(Forecast) | ||||||||
(Note) Revision to the forecast for dividends | announced most | recently: | No | |||||
(Note) PROTO CORPORATION carried out a 2-for-1 split of common shares on July 1, 2019. | ||||||||
For the year ended Mar. 2020, PROTO CORPORATION took the stock split into consideration. | ||||||||
(Note) Breakdown of the annual dividend for the fiscal year ended March 31, 2020 : | ||||||||
Commemorative dividend | 25.00 | yen | ||||||
Special dividend | 2.50 | yen |
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021(April 01, 2020 to March 31, 2021)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Profit attributable | Basic earnings | ||||||
to owners of parent | per share | |||||||||
Six months ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
28,090 | (5.9) | 2,234 | (17.9) | 2,292 | (17.5) | 1,443 | (54.6) | 35.93 | ||
September 30, 2020 | ||||||||||
Full year | 60,000 | 1.5 | 5,225 | 1.7 | 5,289 | (1.2) | 3,481 | (30.3) | 86.68 | |
(Note) Revision to the financial results forecast announced most recently: | Yes | |||||||||
(Note) For details, please refer to the "Notification Regarding Earnings Forecast" dated July 31, 2020. |
- Notes:
- Changes in significant subsidiaries during the three months ended June 30, 2020
(changes in specified subsidiaries resulting in changes in scope of consolidation): | No | |||
New | - | (Company name: | ) | |
Exclusion: | - | (Company name: | ) | |
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: | No |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: No
- Changes in accounting policies other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares):
June 30, 2020: | 41,925,300 | shares |
March 31, 2020: | 41,925,300 | shares |
2) Total number of treasury shares at the end of the period: | ||
June 30, 2020: | 1,766,217 | shares |
March 31, 2020: | 1,763,392 | shares |
3) Average number of shares during the period: | ||
Three months ended June 30, 2020: | 40,159,789 | shares |
Three months ended June 30, 2019: | 40,116,921 | shares |
*PROTO CORPORATION carried out a 2-for-1 split of common shares on July 1, 2019. | ||
Therefore, "Total number of issued shares | (common shares)" were calculated under the assumption that said share split had been | |
conducted at the beginning of the previous consolidated accounting year. |
- This quarterly report is not subject to quarterly review procedures by certified public accountants or an auditing firm.
-
Explanation for appropriate use of forecasts and other notes
The forward-looking statements such as operational forecasts contained in this statements summary are based on the information currently available to the Company and certain assumptions which are regarded as legitimate. Actual results may differ significantly from these forecasts due to various factors.
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
(Million yen) | ||||
As of March 31,2020 | As of June 30,2020 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 18,057 | 17,519 | ||
Notes and accounts receivable - trade | 4,913 | 4,249 | ||
Inventories | 4,048 | 4,610 | ||
Other | 1,219 | 1,789 | ||
Allowance for doubtful accounts | (6) | (5) | ||
Total current assets | 28,231 | 28,163 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures, net | 6,059 | 5,980 | ||
Land | 4,570 | 4,570 | ||
Other, net | 690 | 666 | ||
Total property, plant and equipment | 11,320 | 11,217 | ||
Intangible assets | ||||
Goodwill | 1,546 | 1,438 | ||
Other | 1,002 | 994 | ||
Total intangible assets | 2,548 | 2,432 | ||
Investments and other assets | ||||
Investments and other assets, gross | 2,631 | 2,738 | ||
Allowance for doubtful accounts | (6) | (16) | ||
Total investments and other assets | 2,625 | 2,722 | ||
Total non-current assets | 16,494 | 16,372 | ||
Total assets | 44,726 | 44,535 |
(Million yen) | ||||
As of March 31,2020 | As of June 30,2020 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 1,720 | 1,974 | ||
Short-term borrowings | 2,400 | 2,400 | ||
Current portion of long-term borrowings | 388 | 363 | ||
Accrued expenses | 2,303 | 2,244 | ||
Income taxes payable | 1,328 | 593 | ||
Provision for sales returns | 10 | 0 | ||
Provision for bonuses | 151 | 200 | ||
Provision for merchandise warranties | 35 | 31 | ||
Provision for point card certificates | 29 | 30 | ||
Other | 2,901 | 2,819 | ||
Total current liabilities | 11,268 | 10,658 | ||
Non-current liabilities | ||||
Long-term borrowings | 681 | 597 | ||
Provision for retirement benefits for directors (and | 281 | 213 | ||
other officers) | ||||
Retirement benefit liability | 4 | 5 | ||
Asset retirement obligations | 294 | 295 | ||
Other | 262 | 244 | ||
Total non-current liabilities | 1,524 | 1,356 | ||
Total liabilities | 12,793 | 12,015 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 1,849 | 1,849 | ||
Capital surplus | 2,036 | 2,036 | ||
Retained earnings | 28,647 | 29,113 | ||
Treasury shares | (1,306) | (1,306) | ||
Total shareholders' equity | 31,227 | 31,692 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale | 199 | 324 | ||
securities | ||||
Foreign currency translation adjustment | 477 | 476 | ||
Total accumulated other comprehensive income | 676 | 800 | ||
Non-controlling interests | 28 | 27 | ||
Total net assets | 31,932 | 32,520 | ||
Total liabilities and net assets | 44,726 | 44,535 |
Quarterly Consolidated Statements of Income and Comprehensive Income | ||
Quarterly Consolidated Statements of Income (For the three months) | ||
(Million yen) | ||
For the three months | For the three months | |
ended June 30,2019 | ended June 30,2020 | |
Net sales | 14,698 | 13,518 |
Cost of sales | 8,763 | 7,566 |
Gross profit | 5,934 | 5,952 |
Reversal of provision for sales returns | 32 | 10 |
Provision for sales returns | 15 | 0 |
Gross profit - net | 5,951 | 5,962 |
Selling, general and administrative expenses | 4,502 | 4,459 |
Operating profit | 1,448 | 1,502 |
Non-operating income | ||
Interest and dividend income | 5 | 4 |
Foreign exchange gains | 51 | 41 |
Other | 10 | 26 |
Total non-operating income | 67 | 71 |
Non-operating expenses | ||
Interest expenses | 5 | 3 |
Loss on investments in investment partnerships | - | 8 |
Loss on valuation of derivatives | 72 | 3 |
Other | 1 | 5 |
Total non-operating expenses | 79 | 20 |
Ordinary profit | 1,436 | 1,554 |
Extraordinary income | ||
Gain on sales of non-current assets | 0 | - |
Total extraordinary income | 0 | - |
Extraordinary losses | ||
Loss on sales and retirement of non-current assets | 0 | 0 |
Total extraordinary losses | 0 | 0 |
Profit before income taxes | 1,436 | 1,554 |
Income taxes - current | 450 | 539 |
Income taxes - deferred | (42) | 0 |
Total income taxes | 407 | 540 |
Profit | 1,028 | 1,014 |
Loss attributable to non-controlling interests | (6) | (3) |
Profit attributable to owners of parent | 1,035 | 1,017 |
Quarterly Consolidated Statements of Comprehensive Income (For the three months)
(Million yen) | |||
For the three months | For the three months | ||
ended June 30,2019 | ended June 30,2020 | ||
Profit | 1,028 | 1,014 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | (34) | 124 | |
Foreign currency translation adjustment | 1 | (0) | |
Total other comprehensive income | (32) | 124 | |
Comprehensive income | 996 | 1,138 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of | 1,003 | 1,139 | |
parent | |||
Comprehensive income attributable to non-controlling | (6) | (1) | |
interests | |||
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Proto Corporation published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 01:35:11 UTC