Summary of Business Results for the Year Ended December 31, 2021
[Japan GAAP] (Consolidated)
February 14, 2022 | ||
Company | Sansei Landic Co.,Ltd | Listed on the TSE |
Stock Code | 3277 | URL: https://www.sansei-l.co.jp |
Representative | Takashi Matsuzaki, President and Representative Director | |
Contact | Takeshi Nagata, Director, Chief Director of Administration Dept. | T E L: +81-3-5252-7511 |
Expected date of annual shareholders' meeting: March 29, 2022 | Expected starting date of dividend payment: March 30, 2022 | |||||||
Expected date of filing of annual securities report: March 29, 2022 | ||||||||
Preparation of supplementary financial document: Yes | ||||||||
Results briefing: Yes (for institutional investors and analysts) | ||||||||
(Rounded down to million yen) | ||||||||
1. Consolidated business results for the fiscal year ended December 2021 | ||||||||
(January 1, 2021 through December 31, 2021) | ||||||||
(1) Consolidated results of operations | (% change from the previous corresponding period) | |||||||
Net sales | Operating income | Ordinary income | Net income attributable to | |||||
owners of parent | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |
Year ended Dec. 2021 | 16,836 | -5.3 | 1,117 | 31.9 | 999 | 40.9 | 609 | 70.5 |
Year ended Dec. 2020 | 17,774 | -1.4 | 847 | -54.5 | 709 | -59.7 | 357 | -69.1 |
(Note) Comprehensive income:
Year ended December 2021: 609 million yen (70.5%)
Year ended December 2020: 357 million yen (-69.1%)
Net income | Diluted net income | Return on | Ratio of ordinary | Ratio of operating | |
income to total | |||||
per share | per share | equity | income to net sales | ||
assets | |||||
Yen | Yen | % | % | % | |
Year ended Dec. 2021 | 73.56 | 73.22 | 6.0 | 5.0 | 6.6 |
Year ended Dec. 2020 | 42.34 | 42.25 | 3.6 | 3.6 | 4.8 |
(Reference) Investment earnings/loss on equity-method: | |||||
Year ended December 2021: -million yen | |||||
Year ended December 2020: -million yen |
(2) Consolidated financial position
Total assets | Net assets | Shareholders' equity | Net assets per | |||
ratio | share | |||||
Million yen | Million yen | % | Yen | |||
As of Dec. 2021 | 20,050 | 10,301 | 51.4 | 1,248.99 | ||
As of Dec. 2020 | 20,070 | 10,066 | 50.1 | 1,192.45 | ||
(Reference) Shareholders' equity: | ||||||
As of December 2021: 10,298 million yen | ||||||
As of December 2020: 10,062 million yen |
(3) Consolidated results of cash flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |
operating activities | investing activities | financing activities | at the end of period | |
Million yen | Million yen | Million yen | Million yen | |
Year ended Dec. 2021 | 1,704 | -51 | -608 | 4,752 |
Year ended Dec. 2020 | -916 | -287 | 952 | 3,707 |
2. Dividends
Annual dividend | Total | Dividend | Rate of total | ||||||||
dividend | payout ratio | dividend to | |||||||||
End of | End of | End of | Year-end | Total | |||||||
(Total) | (Consolidated) | net assets | |||||||||
1Q | 2Q | 3Q | |||||||||
(Consolidated) | |||||||||||
Yen | Yen | Yen | Yen | Yen | Million yen | % | % | ||||
Year ended Dec. 2020 | - | 0.00 | - | 25.00 | 25.00 | 210 | 59.0 | 2.1 | |||
Year ended Dec. 2021 | - | 0.00 | - | 26.00 | 26.00 | 214 | 35.3 | 2.1 | |||
Year ending Dec. 2022 | - | 0.00 | - | 27.00 | 27.00 | 29.5 | |||||
(forecast) |
1
3.Forecast of consolidated business results for the year ending December 2022 (January 1, 2022 through December 31, 2022)
(% change from the previous corresponding period)
Net sales | Operating income | Ordinary income | Net income attributable | Net income | |||||
to owners of parent | per share | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
For the six months | 7,052 | -22.6 | 395 | -42.7 | 317 | -49.7 | 201 | -49.9 | 24.49 |
ending June 30, 2022 | |||||||||
Year ending Dec. 2022 | 18,235 | 8.3 | 1,301 | 16.4 | 1,142 | 14.3 | 754 | 23.8 | 91.52 |
*Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the scope of consolidation): None
- Changes in accounting policies, accounting estimates and restatement
① Changes in accounting policies associated with revision of accounting standards: | : None |
②Changes in accounting policies other than ① | : None |
③Changes in accounting estimates | : None |
: None | |
④Restatement | |
- Shares outstanding (common stock)
- Number of shares outstanding at the end of period (treasury stock included)
As of December 2021 | 8,474,800 shares |
As of December 2020 | 8,468,300 shares |
- Treasury stock at the end of period:
As of December 2021 | 229,942 shares |
As of December 2020 | 29,942 shares |
- Average number of stock during period (cumulative period)
Year ended December 2021 | 8,284,882 shares |
Year ended December 2020 | 8,443,753 shares |
(Reference) Summary of non-consolidated business results
1. Non-consolidated business results for the fiscal year ended December 2021 (January 1, 2021 through December 31, 2021)
(1) Non-consolidated results of operations | (% change from the previous corresponding period) | ||||||||||
Net sales | Operating income | Ordinary income | Net income | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||
Year ended Dec. 2021 | 15,529 | -3.6 | 1,263 | 49.4 | 993 | 48.0 | 603 | 240.3 | |||
Year ended Dec. 2020 | 16,111 | -1.0 | 845 | -55.5 | 671 | -61.7 | 177 | -84.9 | |||
Net income | Diluted net income per | ||||||||||
per share | share | ||||||||||
Yen | Yen | ||||||||||
Year ended Dec. 2021 | 72.85 | 72.51 | |||||||||
Year ended Dec. 2020 | 21.00 | 20.96 | |||||||||
(2) Non-consolidated financial position | |||||||||||
Total assets | Net assets | Shareholders' equity | Net assets per | ||||||||
ratio | share | ||||||||||
Million yen | Million yen | % | Yen | ||||||||
As of Dec. 2021 | 19,674 | 10,313 | 52.4 | 1,250.37 | |||||||
As of Dec. 2020 | 19,838 | 10,083 | 50.8 | 1,194.51 |
(Reference) Shareholders' equity:
As of December 2021: 10,309 million yen
As of December 2020: 10,079 million yen
2
2.Forecast of non-consolidated business results for the fiscal year ending December 2022 (January 1, 2022 through December 31, 2022)
(% change from the previous | |||||||||
corresponding period) | |||||||||
Net sales | Ordinary income | Net income | Net income per | ||||||
share | |||||||||
Million yen | % | Million yen | % | Million yen | % | Yen | |||
For the six months ending | 6,546 | -23.9 | 358 | -33.8 | 243 | -22.5 | 29.47 | ||
June 30, 2022 | |||||||||
Year ending Dec. 2022 | 16,865 | 8.6 | 1,140 | 14.8 | 752 | 24.6 | 91.23 |
*Financial summary is not subject to the review procedures by certified public accountants or auditing firms.
*Explanation regarding appropriate use of business forecasts and other special instructions
The forecasts regarding future performance in this report are based on information available at the time this report was prepared. However, actual results may differ from the forecasts due to various factors.
3
1. Summary of Results of Operations
- Summary of results of operations for the fiscal year under review
- Results of operations for the fiscal year under review
In the fiscal year under review, net sales were 16,836 million yen (down by 5.3% YoY), operating income was 1,117 million yen (up by 31.9% YoY), ordinary income was 999 million yen (up by 40.9% YoY), and a net income attributable to owners of parent was 609 million yen (up by 70.5% YoY).
Results by business segment are as follows.
- Real Estate Sales business
In the Real Estate Sales Business, the segment recorded net sales of 15,529 million yen (down by 3.6% YoY) and segment income of 2,333 million yen (up by 20.6% YoY).
Sales and purchase results for the fiscal year under review are as follows.
ⅰ Sales Results
Classification | Number of | YoY (%) | Sales (million yen) | YoY (%) |
contracts | ||||
Leasehold land | 344 | -0.3 | 8,208 | +29.8 |
Old unutilized properties | 57 | -24.0 | 6,083 | -13.7 |
Freehold | 8 | -38.5 | 864 | -61.9 |
Other Real Estate Sales | - | - | 373 | -19.5 |
Business | ||||
Total | 409 | -5.5 | 15,529 | -3.6 |
(Note) 1. The amounts shown above do not include consumption taxes.
- Inter-segmenttransactions have been eliminated.
- "Number of contracts" indicates the number of transactions.
- "Classification" of Leasehold land, Old unutilized properties, and Freehold is stated according to the classification at the time of purchase. When leasehold land has changed to freehold with rights adjustment after purchase, this case is included in "Leasehold land" based on the classification at the time of purchase. As for the classification of mixed properties with leasehold land, old unutilized properties, and freehold, properties including leasehold land are classified as "Leasehold land", and properties containing a mix of old unutilized properties and freehold are classified as "Old unutilized properties."
- "Other Real Estate Sales Business" consists of rent income, income from brokerage fees, and commission income from outsourcing.
Although sales of leasehold land increased, sales decreased year-on-year due to a decrease in sales of old unutilized properties and freehold.
ⅱ Purchase Results
Classification | Number of lots | YoY (%) | Purchase amount | YoY (%) |
(Million yen) | ||||
Leasehold land | 367 | +4.0 | 4,474 | -10.3 |
Old unutilized properties | 74 | +32.1 | 4,689 | -28.9 |
Freehold | 20 | +81.8 | 955 | -44.1 |
Total | 461 | +9.8 | 10,118 | -23.9 |
(Note) 1. The amounts shown above do not include consumption taxes.
- "Number of lots" indicates the number of sales lots expected at the time of purchase of the property, such as the number of leaseholders in the case of leasehold land.
- As for the classification of mixed properties with leasehold land, old unutilized properties, and freehold, properties including leasehold land are classified as "Leasehold land", and properties containing a mix of old unutilized properties and freehold are classified as "Old unutilized properties."
In purchasing, although the number of purchases increased year-on-year in all categories, the purchase amount decreased year-on-year in all categories mainly due to the higher purchase amount in the same period of the previous fiscal year reflecting the purchase of large-scale properties.
4
- Construction business
In the Construction Business, the segment recorded net sales of 1,306 million yen (down 21.4% YoY) and segment loss of 145 million yen (segment loss of 4 million yen in the same period of the previous fiscal year).
Sales and orders in the fiscal year under review are as follows.
- Sales Results
Number of contracts | YoY (%) | Sales (million yen) | YoY (%) |
135 | -17.2 | 1,306 | -21.4 |
(Note) 1. The amounts shown above do not include consumption taxes.
- Inter-segmenttransactions have been eliminated.
- "Number of contracts" indicates the number of contracts received.
- "Number of contracts" and "Sales" include the number and amount of renovation works and reconstruction works.
Sales decreased year-on-year mainly due to the delays in business negotiations and construction starts caused by the spread of COVID-19 and the impact of the lumber shortage. In addition, profits fell significantly short of the plan due to the recording of a provision for loss on construction contracts as the cost of reinforced concrete (RC) property under construction is expected to be significantly higher than originally estimated.
ⅱ Order Results
Orders received | YoY (%) | Order backlog | YoY (%) |
(million yen) | (million yen) | ||
1,379 | +26.0 | 529 | +16.0 |
(Note) 1. The amounts shown above do not include consumption taxes.
- Inter-segmenttransactions have been eliminated.
- The above amounts are based on selling prices.
As for orders, both orders received and order backlog increased year-on-year.
- Outlook for the next fiscal year
In the Real Estate Sale business, we plan net sales of 16,865 million yen (up by 8.6% year-on-year) and expect each profit to increase. Expenses decreased significantly in the fiscal year under review due to COVID-19. However, we expect expenses to increase in the next fiscal year due to an increase in expenses associated with the expansion of purchasing, the expansion of promotion activities utilizing data, an increase in personnel expenses associated with an increase in personnel for future growth and an increase in system-related spending due to the conversion to cloud and the promotion of remote working.
In the Construction business, we have been working to develop a cost control structure in construction and to reduce expenses. Nevertheless, we recorded a drastic deficit for some properties. Therefore, we recorded a significant loss in the fiscal year under review. We plan to return to profitability in the next fiscal year by continuing to implement measures to strengthen sales and thoroughly control costs in construction.
As a result of the above, we forecast net sales of 18,235 million yen (up by 8.3% YoY), operating income of 1,301 million yen (up by 16.4% YoY), ordinary income of 1,142 million yen (up by 14.3% year on year), and net income attributable to owners of the parent of 754 million yen (up by 23.8% YoY).
It will be necessary to pay attention to the impact of COVID-19, whose end is still not possible to see, on the economic environment and trends in the financial and economic conditions in regards to our future outlook. Nevertheless, it is expected that real estate demand in Japan will remain strong for the time being.
Against this business environment, we formulated a medium-term management plan for FY12/22 to FY12/24. We achieved a growth rate of over 10% on average until 2019. However, we have entered a period of stagnation during the COVID-19 pandemic. Accordingly, we will set targets for 2024 conservatively with 2022 to 2024 serving as periods in which we will aim to strengthen our business foundation qualitatively, where we will focus on efforts to grow from 2025 onward. We will strengthen our financial base to be listed on the Prime Market from 2025 onward. At the same time, we will accelerate new initiatives using upfront investment. In this way, we are positioning this period as a turning point for new growth.
We will work to expand existing businesses, enlarge our business areas and strengthen our management base over the next three years. The aim of this will be to the build solid business foundations so that we can realize stable business growth even after the end of the COVID-19 pandemic. We are aiming for consolidated operating income of 1.8 billion yen, consolidated ordinary income of 1.65 billion yen and an ROE of 9.0% as the management indicators for the final year of our plan.
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Sansei Landic Co. Ltd. published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 06:35:02 UTC.