Translation
Member of Financial Accounting Standards Foundation (FASF)
August 5, 2021
Consolidated Financial Results
for the Three-month Period Ended June 30, 2021 [Japan GAAP]
Name of Company: | The Furukawa Battery Co., Ltd. |
Stock Code: | 6937 |
Stock Exchange Listing: | Tokyo Stock Exchange, First Section |
URL: | https://www.furukawadenchi.co.jp |
Representative | |
Title: | President & CEO |
Name: | Shinichi Ono |
Contact Person | |
Title: | Corporate Officer, General Manager of Finance & |
Accounting Department | |
Name: | Susumu Meida |
Tel: | +81-45-336-5034 |
Scheduled date for filing of quarterly securities report: | August 6, 2021 |
Scheduled date for commencement of dividend payment: | - |
Supplementary documents for quarterly financial results: | None |
Quarterly financial results briefing: | None |
(Yen in millions, rounded down) |
1. Consolidated financial results for the three months ended June 30, 2021 (April 1, 2021 - June 30, 2021)
(1) Consolidated operating results | (Percentage figures represent year on year changes) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
Three months ended June 30, 2021 | 13,035 | 5.9 | 259 | (8.1) | 329 | (6.9) | 355 | 26.4 | ||
Three months ended June 30, 2020 | 12,314 | (11.6) | 282 | - | 353 | - | 281 | 744.0 |
Note: Comprehensive income | |||||||||||
Three months ended June 30, 2021: | 851 million yen [yoy - %] | ||||||||||
Three months ended June 30, 2020: | (440) million yen [yoy - %] | ||||||||||
Earnings per share | Earnings per share | ||||||||||
(basic) | (diluted) | ||||||||||
Yen | Yen | ||||||||||
Three months ended June 30, 2021 | 10.84 | - | |||||||||
Three months ended June 30, 2020 | 8.58 | - | |||||||||
(2) Consolidated financial position | |||||||||||
Total assets | Net assets | Equity ratio | |||||||||
Million yen | Million yen | % | |||||||||
As of June 30, 2021 | 57,467 | 31,422 | 52.5 | ||||||||
As of March 31, 2021 | 57,686 | 31,388 | 52.2 | ||||||||
Reference: Equity | |||||||||||
As of June 30, 2021: | 30,141 million yen | ||||||||||
As of March 31, 2021: | 30,109 million yen | ||||||||||
2. Dividends | |||||||||||
Annual dividends per share | |||||||||||
End of Q1 | End of Q2 | End of Q3 | End of Q4 | Total | |||||||
Yen | Yen | Yen | Yen | Yen | |||||||
Fiscal year ended March 31, 2021 | - | - | - | 22.00 | 22.00 | ||||||
Fiscal year ending March 31, 2022 | - | ||||||||||
Fiscal year ending March 31, 2022 (forecast) | - | - | 22.00 | 22.00 | |||||||
Note: Revisions to the forecasts of dividends most recently announced: None |
3. Forecast of consolidated financial results for the fiscal year ending March 31, 2022 (April 1, 2021 - March 31, 2022)
(Percentage figures represent year-on-year changes)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings | ||||||
owners of parent | per share | |||||||||
Million | % | Million | % | Million | % | Million | % | Yen | ||
yen | yen | yen | yen | |||||||
Fiscal year ending | 62,500 | 4.2 | 4,000 | (9.0) | 4,000 | (10.7) | 3,450 | (4.6) | 105.25 | |
March 31, 2022 | ||||||||||
Note: Revisions to the consolidated earnings forecasts most recently announced: None |
Notes:
(1) Changes in significant subsidiaries during the three-month period ended June 30, 2021 (Changes in specific subsidiaries accompanied by changes in the scope of consolidation): Newly included: None Excluded: None
- Use of accounting methods that are specific to the preparation of the quarterly consolidated financial statements: Yes Note: For details, please refer to "2. Consolidated Financial Statements and Related Notes (3) Notes on Consolidated Financial Statements (Application of Special Accounting for Preparing Consolidated Financial Statements)" on page 8 of Attachment.
- Changes in accounting policies, changes in accounting estimates, and retrospective restatements:
- Changes in accounting policies accompanying revisions in accounting standards: Yes
- Changes other than in (a): None
- Changes in accounting estimates: None
- Retrospective restatements: None
Note: For details, please refer to "2. Consolidated Financial Statements and Related Notes (3) Notes on Consolidated Financial Statements (Changes in Accounting Policies)" on page 8 of Attachment.
- Number of shares outstanding (common stock)
- Shares outstanding (including treasury shares)
As of June 30, 2021: 32,800,000 shares | As of March 31, 2021: 32,800,000 shares |
(b) Treasury shares | |
As of June 30, 2021: 22,086 shares | As of March 31, 2021: 22,086 shares |
(c) Average number of shares outstanding during the period (cumulative) | |
Three months ended June 30, 2021: | Three months ended June 30, 2020: |
32,777,914 shares | 32,777,941 shares |
- Quarterly financial results reports are not required to be subjected to quarterly reviews conducted by certified public accountants or an audit corporation.
-
Appropriate use of performance forecasts and other special items: (Disclaimer on forward-looking statements, etc.)
Forward-looking statements in these materials are based on information available to management at the time this report was prepared, and on assumptions that management believes are reasonable. Actual results may differ significantly from these statements for a number of reasons. Please refer to "1. Qualitative Information on Consolidated Financial Results for the Three- month Period (3) Explanation of Forecast for the Fiscal Year Ending March 31, 2022" on page 2 of Attachment for details on the assumptions used and other related matters concerning the forecast of consolidated financial results.
Index | of the Attachment | |
1. Qualitative Information on Consolidated Financial Results for the Three-month Period ......................................... | ||
2. Consolidated Financial Statements and Related Notes ............................................................................................. | 4 | |
(1) | Consolidated Balance Sheets ............................................................................................................................... | 4 |
(2) | Consolidated Statements of Income and Comprehensive Income ....................................................................... | 6 |
(Consolidated Statements of Income (Cumulative)) ........................................................................................... | 6 | |
(Consolidated Statements of Comprehensive Income (Cumulative)) ................................................................. | 7 | |
(3) | Notes on Consolidated Financial Statements ....................................................................................................... | 8 |
(Going Concern Assumptions) ............................................................................................................................ | 8 | |
(Material Changes in the Amount of Shareholders' Equity)................................................................................ | 8 | |
(Application of Special Accounting for Preparing Consolidated Financial Statements) ..................................... | 8 | |
(Changes in Accounting Policies) ....................................................................................................................... | 8 | |
3. Other ....................................................................................................................................................................... | 10 | |
(Trend in Quarterly Consolidated Results) .............................................................................................................. | 10 |
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1. Qualitative Information on Consolidated Financial Results for the Three-month Period
- Explanation of Operating Results
(Business Environment)
During the three-month period ended June 30, 2021, the global economy remained in a serious situation due to the impact of the global outbreak of the novel coronavirus disease (COVID-19).
Despite the situation remaining serious due to the impact of COVID-19 for the Japanese economy as well, it is expected to pick up due to the effects of various policy measures, etc.
(Operating Results)
The Group recorded net sales of 13,035 million yen for the three-month period ended June 30, 2021, an increase of 721 million yen year on year. Overseas sales were 4,913 million yen and accounted for 37.7% of total sales.
In terms of profit and loss, operating profit decreased by 22 million yen year on year to 259 million yen due to the impact of the rise in the price of lead, a major raw material. Ordinary profit decreased by 24 million yen year on year to 329 million yen due to a decrease in income such as dividend income, despite a decrease in expenses such as interest expenses.
Profit attributable to owners of parent came to 355 million yen, increasing 74 million yen year on year.
The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations have been applied from the beginning of the first quarter of the current fiscal year, and compared with the previous method, net sales for the first quarter of the current fiscal year decreased by 745 million yen, operating profit decreased by 46 million yen, and ordinary profit and profit before income taxes each decreased by 43 million yen. For details, please refer to "2. Consolidated Financial Statements and Related Notes (3) Notes to Consolidated Financial Statements (Changes in Accounting Policies)."
(2) Explanation of Financial Position
Total assets were 57,467 million yen as of June 30, 2021, which is 218 million yen less than at the end of the previous fiscal year. Current assets decreased by 599 million yen from the end of the previous fiscal year to 28,424 million yen, while non-current assets increased by 380 million yen from the end of the previous fiscal year to 29,043 million yen.
The main factors leading to the decrease in current assets were decreases in accounts receivable - trade, etc. There was a 158 million yen increase in property, plant and equipment to 23,282 million yen. The main factor
leading to the increase was foreign currency translation differences of non-current assets owned by overseas subsidiaries.
Investments and other assets increased by 147 million yen from the end of the previous fiscal year to 5,354 million yen.
Total liabilities as of June 30, 2021, decreased by 252 million yen from the end of the previous fiscal year to 26,044 million yen. Current liabilities increased by 93 million yen from the end of the previous fiscal year to 14,782 million yen, and non-current liabilities decreased by 346 million yen from the end of the previous fiscal year to 11,262 million yen.
Interest-bearing debt, which is the sum of short-term borrowings and long-term borrowings, decreased by 189 million yen from the end of the previous fiscal year to 5,889 million yen.
Equity as of June 30, 2021, increased by 32 million yen from the end of the previous fiscal year to 30,141 million yen, resulting in an increase in the equity ratio from 52.2% at the end of the previous fiscal year to 52.5%.
(3) Explanation of Forecast for the Fiscal Year Ending March 31, 2022
There is no change to the consolidated forecast that was announced on May 12, 2021. Regarding the spread of COVID-19 and the timing of the settlement of COVID-19, etc., no changes have been made to the assumptions (that this situation will continue in the fiscal year ending March 31, 2022 and certain limits will be set regarding economic
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activity as there is no uniform opinion regarding the spread of COVID-19, the timing of the settlement of COVID-19, etc.) announced on May 12, 2021.
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Furukawa Battery Co. Ltd. published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 03:13:07 UTC.