January 31, 2023
Consolidated Financial Results Bulletin for the 3rd Quarter Ended December 31, 2022 (J-GAAP)
Tokyo Gas Co., Ltd.
Securities code: | 9531 | Stock listings: | |||||||||||||
(URL https://www.tokyo-gas.co.jp/IR/english/index.html) | Tokyo Stock Exchange, Nagoya Stock Exchange | ||||||||||||||
Representative: | Mr. UCHIDA Takashi, Representative Corporate | ||||||||||||||
Executive Officer, President and CEO | |||||||||||||||
Contact: | Mr. KOMORI Rikiya, Chief Manager, | Location of head office: Tokyo | |||||||||||||
Consolidated Settlements Sect. | |||||||||||||||
Scheduled date of the filing of quarterly report: | February 14, 2023 | ||||||||||||||
Scheduled date of the start of dividend payments: | - | ||||||||||||||
Preparation of 3Q earnings presentation material (yes/no): Yes | |||||||||||||||
Holding of 3Q earnings announcement (yes/no): | Yes (for institutional investors) | ||||||||||||||
(Amounts are rounded down to the nearest million yen) | |||||||||||||||
1. Consolidated Performance for 3rd Quarter (from April 1, 2022 to December 31, 2022) | |||||||||||||||
(Unit: million yen) | |||||||||||||||
(1) Consolidated Business Performance | (% of change from the corresponding period of previous year) | ||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||
owners of parent | |||||||||||||||
Nine months ended | 2,300,194 | 63.9% | 235,692 | 341.5% | 238,298 | 283.6% | 168,097 | 264.7% | |||||||
Dec. 31, 2022 | |||||||||||||||
Nine months ended | 1,403,292 | 13.7% | 53,378 | -19.5% | 62,121 | 1.9% | 46,088 | 8.6% | |||||||
Dec. 31, 2021 | |||||||||||||||
Note: Total comprehensive income
Nine months ended December 31, 2022: 252,736 million yen (666.8%) Nine months ended December 31, 2021: 32,961 million yen (34.5%)
Profit per share | Diluted profit | |
per share | ||
Nine months ended | 386.93 yen | - |
Dec. 31, 2022 | ||
Nine months ended | 104.81 yen | - |
Dec. 31, 2021 | ||
Note: Figures for the nine months ended December 31, 2021, represent figures after retroactive application following a change in accounting policies.
(2) Consolidated Financial Position
(Unit: million yen) | |||
Total assets | Total net assets | Equity ratio | |
As of Dec. 31, 2022 | 3,649,413 | 1,484,037 | 39.9% |
As of Mar. 31, 2022 | 3,187,627 | 1,281,150 | 39.3% |
Reference: Shareholders' equity
As of December 31, 2022: 1,456,764 million yen As of March 31, 2022: 1,251,781 million yen
Note: Figures for the fiscal year ended March 31, 2022, represent figures after retroactive application and restatement following a change in accounting policies and changes in presentation, respectively.
2. Dividend
Dividend per share (Unit: yen) | ||||||||||
End of 1Q | End of 2Q | End of 3Q | End of 4Q | Annual | ||||||
FY2021 ended Mar. 31, | - | 30.00 | - | 35.00 | 65.00 | |||||
2022 | ||||||||||
FY2022 ending Mar. 31, | - | 32.50 | - | |||||||
2023 | ||||||||||
FY2022 ending Mar. 31, | 32.50 | 65.00 | ||||||||
2023 (Forecast) | ||||||||||
Note: Revision to the dividend forecast that has been disclosed lastly: No |
3. Consolidated Results Forecast for FY2022 ending March 31, 2023 (April 1, 2022 - March 31, 2023)
(Unit: million yen) (% of change from the corresponding period of previous year)
Net sales | Operating profit | |||
Full-year | 3,377,000 | 56.7% | 331,000 | 159.6% |
Ordinary profit
325,000 | 138.1% |
Net profit | Profit | |
attributable to | ||
per share | ||
owners of parent | ||
236,000 | 146.6% | 543.54 yen |
Notes: 1. Revision to the consolidated results forecast that has been disclosed lastly: Yes
2. The year-on-year percentage changes represent the percentage changes calculated by retroactively applying the change in accounting policies to the figures for the fiscal year ended March 31, 2022.
*Notes
-
Significant changes in consolidated subsidiaries (changes in specified subsidiaries resulting in change of scope of consolidation during the quarter) (yes/no): No
Reference: Scope of consolidation and application of equity method
Number of consolidated subsidiaries: 101 (Increased by 1 company and decreased by 13 companies)
Number of subsidiaries and affiliates accounted for by equity method: 15 (Decreased by 1 company) - Application of accounting treatment peculiar to quarterly consolidated financial statement preparation (yes/no): Yes
Note: Please see page 9 of the Attachment, "2. Consolidated Financial Statements and Main Notes: (3) Notes on consolidated financial statements (Application of accounting treatment peculiar to quarterly consolidated financial statement preparation)" for details. - Change in accounting policies or estimates and retrospective restatements
- Change in accounting policies in accordance with revision of accounting standards: No
- Change in accounting policies other than item 1) above: Yes
- Change in accounting estimates: No
- Retrospective restatements: No
- Number of issued shares (common stock)
(Unit: share) | |||||||
1) | Number of issued shares at end of period | Dec. 31, 2022 | 434,875,059 | Mar. 31, 2022 | 440,996,559 | ||
(including treasury stock): | |||||||
2) | Number of shares of treasury stock | Dec. 31, 2022 | 1,452,421 | Mar. 31, 2022 | 1,448,431 | ||
at end of period: | |||||||
3) | Average number of shares during period: | Apr. - Dec. 2022 | 434,443,941 | Apr. - Dec. 2021 | 439,714,082 | ||
- Quarterly review procedures by a certified public accountant or an audit firm do not apply to quarterly consolidated financial results bulletins.
- Explanation related to appropriate use of results forecasts and other items warranting special mention
- The consolidated and non-consolidated results forecasts include numerous elements of uncertainty, including the impact of the COVID-19 pandemic and the Russia-Ukraine situation. Therefore, the forecasts are subject to drastic changes depending on future development. For details of the above forecasts, please refer to "1. Overview of Business Performance, etc. (2) Future outlook" on page 4 of the Attachment.
- The information related to this Financial Results will be posted on the Web site of the Company.
Non-Consolidated Results Forecast for FY2022 ending March 31, 2023 (April 1, 2022 - March 31, 2023)
(Unit: million yen) (% of change from the corresponding period of previous year)
Net sales | Operating profit | Ordinary profit | Net income | Profit | |||||
per share | |||||||||
Full-year | 3,018,800 | 56.3% | 231,200 | 345.3% | 228,300 | 375.8% | 163,900 | 333.7% | 377.49 yen |
Notes: 1. Revision to the non-consolidated results forecast that has been disclosed lastly: Yes
2. The year-on-year percentage changes represent the percentage changes calculated by retroactively applying the change in accounting policies to the figures for the fiscal year ended March 31, 2022.
Contents of Attachment | ||
1. Overview of Business Performance, etc | 2 | |
(1) | Overview of business performance of the 3rd quarter | 2 |
(2) | Future outlook | 4 |
2. Consolidated Financial Statements and Main Notes | 5 | |
(1) | Consolidated balance sheets | 5 |
(2) | Consolidated statements of income and comprehensive income | 7 |
Consolidated statement of income | 7 | |
(Nine months ended December 31, 2022) | ||
Consolidated statement of comprehensive income | 8 | |
(Nine months ended December 31, 2022) | ||
(3) | Notes on consolidated financial statements | 9 |
(Note on going concerns' premise) | 9 | |
(Additional information) | 9 | |
(Significant changes in shareholders' equity) | 9 | |
(Application of accounting treatment peculiar to quarterly consolidated financial statement preparation) | 9 | |
(Change in accounting policies) | 10 | |
(Changes in presentation) | 10 |
1
1. Overview of Business Performance, etc.
-
Overview of business performance of the 3rd quarter
In November 2021, the Company formulated the Compass Action, a detailed roadmap for achieving Compass 2030, the Group's management vision, and on April 1, 2022, transitioned to a holding company structure. Following this development, the Company has decided to change its reporting segments from the five segments of "gas," "electric power," "overseas," "energy related," and "real estate," which it had used until FY2021, to four reporting segments of "energy solution," "network," "overseas," and "urban development," starting in FY2022.
The year-on-year comparison is based on the previous reporting segments since it is difficult to create data of net sales and profits of the nine months ended December 31, 2021, using the new reporting segments.
Nine months ended December 31, 2022 | (Unit: million yen) | ||||
Energy solution | Network | Overseas | Urban | ||
development | |||||
Sales | FY2022 | 2,111,447 | 244,204 | 128,191 | 46,264 |
(% of total) | (83.4%) | (9.7%) | (5.1%) | (1.8%) | |
Operating | FY2022 | 1,904,781 | 263,379 | 69,777 | 33,862 |
expenses | (% of total) | (83.8%) | (11.6%) | (3.1%) | (1.5%) |
Segment | FY2022 | 206,696 | -19,175 | 63,994 | 12,996 |
profit/loss | (% of total) | (78.1%) | (-7.2%) | (24.2%) | (4.9%) |
Note: Figures for sales include internal transactions. Figures for operating expenses do not include expenses that cannot be allocated to specific segments. Figures for segment profit are adjusted against the amount based on operating profit/loss of consolidated financial statements plus or minus investment income or loss on equity method.
Comparison with the nine months ended December 31, 2021 | (Unit: million yen) | ||||||
Gas | Electric | Overseas | Energy- | Real estate | Others | ||
power | related | ||||||
FY2022 | 1,548,331 | 599,683 | 128,211 | 260,065 | 46,264 | 73,804 | |
(% of total) | (58.3%) | (22.6%) | (4.8%) | (9.8%) | (1.7%) | (2.8%) | |
Sales | FY2021 | 907,844 | 308,615 | 62,430 | 227,548 | 43,348 | 73,781 |
(% of total) | (56.0%) | (19.0%) | (3.8%) | (14.0%) | (2.7%) | (4.5%) | |
Amount of change | 640,487 | 291,068 | 65,781 | 32,517 | 2,916 | 23 | |
(Rate of change) | 70.6% | 94.3% | 105.4% | 14.3% | 6.7% | 0.0% | |
FY2022 | 1,396,421 | 582,834 | 68,330 | 245,639 | 33,689 | 65,918 | |
(% of total) | (58.3%) | (24.3%) | (2.9%) | (10.3%) | (1.4%) | (2.8%) | |
Operating | FY2021 | 875,625 | 296,988 | 44,450 | 216,622 | 31,245 | 72,424 |
expenses | (% of total) | (57.0%) | (19.3%) | (2.9%) | (14.1%) | (2.0%) | (4.7%) |
Amount of change | 520,796 | 285,846 | 23,880 | 29,017 | 2,444 | -6,506 | |
(Rate of change) | 59.5% | 96.2% | 53.7% | 13.4% | 7.8% | -9.0% | |
FY2022 | 151,910 | 16,849 | 65,461 | 14,425 | 13,169 | 7,916 | |
(% of total) | (56.4%) | (6.2%) | (24.3%) | (5.3%) | (4.9%) | (2.9%) | |
Segment | FY2021 | 32,218 | 11,626 | 21,709 | 10,925 | 12,818 | 1,415 |
profit | (% of total) | (35.6%) | (12.8%) | (23.9%) | (12.0%) | (14.1%) | (1.6%) |
Amount of change | 119,692 | 5,223 | 43,752 | 3,500 | 351 | 6,501 | |
(Rate of change) | 371.5% | 44.9% | 201.5% | 32.0% | 2.7% | 459.3% | |
Notes: |
- Figures for sales include internal transactions. Figures for operating expenses do not include expenses that cannot be allocated to specific segments. Figures for segment profit are adjusted against the amount based on operating profit/loss of consolidated financial statements plus or minus investment income or loss on equity method.
- Figures for the nine months ended December 31, 2021, represent figures after retroactive application following a change in accounting policies.
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Tokyo Gas Co. Ltd. published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 05:16:00 UTC.