Summary of Consolidated Business Results for the First Quarter of Fiscal 2020
October 12, 2020 | |||
Company Name: | Toyo Denki Seizo K.K. | Stock Exchange: 1st Section of the Tokyo Stock Exchange | |
Stock Code: | 6505 | URL | https://www.toyodenki.co.jp |
Representative | Akira Watanabe, President | ||
Inquiries: | Toshihito Nakanishi, Operating Officer, General Manager, Management Planning Department | ||
TEL: +81-3-5202-8122 |
Scheduled date of submission of quarterly financial report | : | October 13, 2020 |
Scheduled date of commencement of dividend payments | : | - |
Preparation of quarterly financial report supplemental explanatory materials | : | Yes |
Holding of quarterly financial results briefing | : | No |
(Note: Amounts less than one million yen in financial statements and supplementary data are rounded down.)
1. Consolidated Business Results for the First Quarter of Fiscal 2020 (June 1, 2020 to August 31, 2020)
- Consolidated Operating Results
(Percentage figures show year-on-year increase or decrease.) | |||||||||||
Net sales | Operating Income | Ordinary Income | Net Income Attributable to | ||||||||
Owners of the Parent | |||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
1Q Fiscal 2020 | 7,848 | (11.2) | 169 | - | 265 | - | 315 | 245.9 | |||
1Q Fiscal 2019 | 8,841 | 1.7 | (51) | - | (39) | - | 91 | - |
(Note) Comprehensive income: | 1Q Fiscal 2020 | (815) million yen [-%] | |||
1Q Fiscal 2019 | (171) million yen [-%] | ||||
Net Income per Share | Diluted Net Income | ||||
per Share | |||||
Yen | Yen | ||||
1Q Fiscal 2020 | 35.24 | - | |||
1Q Fiscal 2019 | 10.19 | - |
- Consolidated Financial Position
Total Assets | Net Assets | Shareholders' Equity | ||||
Ratio | ||||||
Millions of yen | Millions of yen | % | ||||
As of August 31, 2020 | 54,063 | 23,099 | 42.7 | |||
As of May 31, 2020 | 55,165 | 24,183 | 43.8 | |||
(Reference) Shareholders' equity: | As of August 31, 2020 23,099 million yen | |||||
As of May 31, 2020 | 24,183 million yen |
2. Dividend Information
Annual Dividend | |||||||
1Q | Interim | 3Q | Fiscal Year-End | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal 2019 | - | 0.00 | - | 30.00 | 30.00 | ||
Fiscal 2020 | - | ||||||
Fiscal 2020 (Forecast) | - | - | - | - |
(Notes) 1. Revisions to the most recently announced dividend forecast: No
2. The dividend forecast for Fiscal 2020 is currently undecided.
3. Consolidated Performance Forecast for Fiscal 2020 (June 1, 2020 to May 31, 2021)
Amid the novel coronavirus spreading globally, some orders received by the Company were also affected, which makes it difficult to reasonably quantify the degree of the impact on the Company's performance. Therefore, the consolidated performance forecast for Fiscal 2020 is undecided at this moment. As soon as it becomes possible to reasonably make a performance forecast going forward, the Company will announce such immediately.
(Note) Revisions to the most recently announced performance forecast: No
- Notes:
-
Transfers of major subsidiaries during the period: No
(Transfers of specified subsidiaries accompanied by changes in the scope of consolidation)
Newly included: - companies (name of the company) | Excluded: - companies (name of the company) |
- Application of special accounting practices for the preparation of quarterly consolidated financial statement: No
-
Changes in accounting policies, changes in accounting estimates, and restatement
(a) Changes in accounting policies in accordance with revisions to accounting standards and related practices: No
- Any changes other than (a) above: No
- Changes in accounting estimates: No
- Restatement: No
- Shares outstanding (common stock)
- Number of shares outstanding as of the end of the period (including treasury stock):
- Number of shares of treasury stock as of the end of the period:
- Average number of shares for the period (fiscal year-to-date):
1Q Fiscal 2020 | 9,735,000 shares | Fiscal 2019 | 9,735,000 shares |
1Q Fiscal 2020 | 793,528 shares | Fiscal 2019 | 793,403 shares |
1Q Fiscal 2020 | 8,941,537 shares | 1Q Fiscal 2019 | 8,942,033 shares |
- Quarterly financial reports are not subject to quarterly review procedures by a certified public accountant or audit firm.
-
Disclaimer concerning the proper use of business results forecasts and other relevant specific items (Note on forward-looking statements)
The forecasts for business results presented in this document are based on management's assumptions and beliefs in light of currently available information. Toyo Denki cautions readers that due to a variety of factors actual results may differ materially from forecasts. Please refer to "Explanation of Consolidated Performance Forecast and Other Forward-looking Information" in the Accompanying Materials on page 3 for details relating to forecasts of operating results (available in Japanese only). - This report is an abridged translation of the Japanese summary of consolidated business results, which has been prepared in accordance with accounting principles generally accepted in Japan, for reference purpose only.
Summary of Consolidated Business Results for the First Quarter of Fiscal 2020
Toyo Denki Seizo K.K. (6505)
2. Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen) | ||||
Fiscal 2019 | 1Q Fiscal 2020 | |||
(As of May 31, 2020) | (As of August 31, 2020) | |||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | 3,293 | 4,047 | ||
Trade notes and accounts receivable | 14,135 | 13,936 | ||
Electronically recorded monetary claims - operating | 1,538 | 940 | ||
Products and finished goods | 756 | 846 | ||
Work in process | 3,424 | 3,767 | ||
Raw materials and stored goods | 2,996 | 3,362 | ||
Advances | 13 | 17 | ||
Other accounts receivable | 39 | 94 | ||
Other | 86 | 95 | ||
Allowance for doubtful accounts | (0) | (1) | ||
Total current assets | 26,284 | 27,106 | ||
Fixed assets | ||||
Property, plant and equipment | ||||
Buildings and structures | 12,269 | 12,280 | ||
Accumulated depreciation | (5,515) | (5,618) | ||
Buildings and structures, net | 6,753 | 6,661 | ||
Machinery and equipment | 8,179 | 8,273 | ||
Accumulated depreciation | (7,120) | (7,208) | ||
Machinery and equipment, net | 1,059 | 1,064 | ||
Land | 1,301 | 1,301 | ||
Construction in progress | 86 | 90 | ||
Other | 4,654 | 4,716 | ||
Accumulated depreciation | (3,929) | (3,999) | ||
Other, net | 724 | 716 | ||
Total property, plant and equipment | 9,925 | 9,834 | ||
Intangible assets | ||||
Software | 462 | 411 | ||
Software in progress | 14 | 14 | ||
Other | 14 | 14 | ||
Total intangible assets | 490 | 440 | ||
Investments and other assets | ||||
Investment securities | 15,434 | 13,647 | ||
Deferred tax assets | 170 | 192 | ||
Other | 2,865 | 2,848 | ||
Allowance for doubtful accounts | (6) | (6) | ||
Total investments and other assets | 18,463 | 16,681 | ||
Total fixed assets | 28,880 | 26,957 | ||
Total assets | 55,165 | 54,063 |
Summary of Consolidated Business Results for the First Quarter of Fiscal 2020 Toyo Denki Seizo K.K. (6505)
(Millions of yen)
Fiscal 2019 | 1Q Fiscal 2020 | ||||
(As of May 31, 2020) | (As of August 31, 2020) | ||||
Liabilities | |||||
Current liabilities | |||||
Trade notes and accounts payable | 2,224 | 1,930 | |||
Electronically recorded obligations - operating | 5,877 | 5,766 | |||
Short-term debt | 2,207 | 3,885 | |||
Accrued expenses | 606 | 590 | |||
Income taxes payable | 334 | 81 | |||
Consumption and other taxes payable | 310 | 62 | |||
Advances received | 45 | 74 | |||
Deposits received | 198 | 339 | |||
Reserve for directors' bonuses | 36 | 9 | |||
Reserve for employees' bonuses | 876 | 451 | |||
Reserve for order losses | 732 | 850 | |||
Other | 218 | 240 | |||
Total current liabilities | 13,669 | 14,281 | |||
Long-term liabilities | |||||
Long-term debt | 12,344 | 12,140 | |||
Long-term payables | 25 | 17 | |||
Deferred tax liabilities | 930 | 475 | |||
Net defined benefit liability | 4,010 | 4,044 | |||
Other | 3 | 3 | |||
Total long-term liabilities | 17,312 | 16,682 | |||
Total liabilities | 30,981 | 30,964 | |||
Net assets | |||||
Shareholders' equity | |||||
Capital stock | 4,998 | 4,998 | |||
Capital surplus | 3,177 | 3,177 | |||
Retained earnings | 11,610 | 11,657 | |||
Treasury stock | (1,280) | (1,281) | |||
Total shareholders' equity | 18,505 | 18,552 | |||
Accumulated other comprehensive income | |||||
Unrealized holding gains on available-for-sale securities | 5,727 | 4,593 | |||
Foreign currency translation adjustments | 79 | 71 | |||
Adjustments of defined benefit plans | (129) | (118) | |||
Total accumulated other comprehensive income | 5,677 | 4,546 | |||
Total net assets | 24,183 | 23,099 | |||
Total liabilities and net assets | 55,165 | 54,063 |
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TOYO Electric Mfg. Co. Ltd. published this content on 12 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2020 06:14:08 UTC