tsukuruba inc.
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.
Non-consolidated Financial Results
for the Year Ended July 31, 2020
[Japanese GAAP]
Company name: tsukuruba inc. | September 14, 2020 |
Stock exchange listing: Tokyo | |
Code number: 2978 | |
URL: https://tsukuruba.com/ | |
Representative: Hiroki Murakami | Representative Director, CEO |
Contact: Ryohei Koike | Director, CFO |
Phone: 03-4400-2946
Scheduled date of Annual General Meeting of Shareholders: October 29, 2020
Scheduled date of commencing dividend payments: ー
Scheduled date of filing annual securities report: October 29, 2020
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes (For institutional investors and analysts)
(Amounts of less than one million yen are rounded down)
1. Non-consolidated Financial Results for the Fiscal Year Ended July 31, 2020 (August 01, 2019 to July 31, 2020)
(1) Non-consolidated Operating Results | (% indicates changes from the previous corresponding period.) | ||||||||||||||
Net sales | Operating profit | Ordinary profit | Net income | ||||||||||||
Fiscal year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||
July 31, 2020 | 1,718 | 13.4 | (150) | - | (159) | - | (431) | - | |||||||
July 31, 2019 | 1,515 | 185.3 | 19 | - | 7 | - | 10 | - | |||||||
Basic earnings per | Diluted earnings per | Rate of return on | Ordinary profit to | Operating profit to | |||||||||||
share | share | equity | total assets ratio | net sales ratio | |||||||||||
Fiscal year ended | Yen | Yen | % | % | % | ||||||||||
July 31, 2020 | (46.81) | - | (33.9) | (7.9) | (8.8) | ||||||||||
July 31, 2019 | 1.34 | 1.17 | 1.1 | 0.5 | 1.3 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended July 31, 2020: Fiscal year ended July 31, 2019:
(2) Non-consolidated Financial Position
- - million
- - million
Total assets | Net assets | Capital adequacy ratio | Net assets per share | ||
As of | Million yen | Million yen | % | Yen | |
July 31, 2020 | 2,162 | 1,074 | 49.6 | 113.43 | |
July 31, 2019 | 1,869 | 1,475 | 78.9 | 163.84 | |
(Reference) Equity: As of | July 31, 2020: | ¥ | 1,073 million | ||
As of | July 31, 2019: | ¥ | 1,473 million | ||
(3) Non-consolidated Cash Flows | |||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||
equivalents at the end | |||||
operating activities | investing activities | financing activities | |||
of period | |||||
Fiscal year ended | Million yen | Million yen | Million yen | Million yen | |
July 31, 2020 | (78) | (526) | 753 | 1,519 | |
July 31, 2019 | 399 | (169) | 837 | 1,371 |
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tsukuruba inc. | |||||||||
2. Dividends | |||||||||
Annual dividends | Total | Payout | Dividends | ||||||
to net | |||||||||
1st | 2nd | 3rd | dividends | ratio | |||||
Year-end | Total | assets | |||||||
quarter-end | quarter-end | quarter-end | |||||||
Fiscal year ended | Yen | Yen | Yen | Yen | Yen | Million yen | % | % | |
July 31, 2019 | - | - | - | 0.00 | 0.00 | - | - | - | |
July 31, 2020 | - | 0.00 | - | 0.00 | 0.00 | - | - | - | |
Fiscal year ending | |||||||||
July 31, 2021 | - | 0.00 | - | 0.00 | 0.00 | - | |||
(Forecast) |
3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending July 31, 2021 (August 01, 2020 to July 31, 2021)
(% indicates changes from the previous corresponding period.)
Net sales | Operating profit | Ordinary profit | Net income | Basic earnings per | ||||||||
share | ||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||||
Full year | 1,472 | (14.3) | (563) | - | (573) | - | (587) | - | (62.0) |
(Note)In the fiscal year ending July 2021, we would like to make an investment to maximize the value of our cowcamo business.
In the fiscal year ending July 2021, the total platform profit is expected to increase due to the growth of the gross merchandise value of
the cowcamo platform. However, we expect revenue of 1,472 million yen (-14.3% from the previous fiscal year) and gross profit of
1,237 million yen (+3.6% from the fiscal year), because labor-intensive services for businesses will be temporary decreased due to
business-model conversion and partial outsourcing will increase in order to control risk and improve profitability.
Operating profit, ordinary profit and net profit are expected to be in deficit due to investment to build competitiveness of the cowcamo
platform over the medium- to long-term, conversion of some business models, and the introduction cost of stock incentives for growth
in the medium- to long-term. Based on the above, we expect operating profit of -563 million yen from the previous year, ordinary
profit of -573 million yen from the previous year, and net profit of -587 million yen from the previous year. These profits include 75
million yen as stock-based compensation expenses.
The above forecast of financial results is conservatively estimated because the outlook for the economic environment is uncertain due
to the prolonged trade friction between the US and China and the spread of COVID-19.
In addition, the above forecast does not assume that a large-scale stagnation of economic activity due to COVID-19 will occur. Actual
financial results may fluctuate due to various factors.
* Notes:
- 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):
July 31, 2020: | 9,799,700 | shares |
July 31, 2019: | 9,331,700 | shares |
2) Total number of treasury shares at the end of the period: | ||
July 31, 2020: | 335,600 | shares |
July 31, 2019: | 335,600 | shares |
3) Average number of shares during the period: | ||
Fiscal Year ended July 31, 2020: | 9,223,821 | shares |
Fiscal Year ended July 31, 2019: | 8,010,711 | shares |
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tsukuruba inc.
-
These financial results are unaudited by certificated public accountants or audit firms. *Explanation about appropriate usage of business forecasts and other special notes
The forecasts above are based on the judgments made in accordance with information currently available. Forecasts therefore include risks and uncertainties. Actual figures may differ from these forecasts due to subsequent changes in the circumstances.
Annual financial results briefing session for institutional investors and analysts is planned to be held on September 14th , 2020. The presentation materials for the session will be posted on TDnet (Company Announcements Disclosure Service) and the company's website today.
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tsukuruba inc. | ||||
Non-consolidated Financial Statements | ||||
Non-consolidated Balance Sheets | ||||
(Thousand yen) | ||||
As of July 31,2019 | As of July 31,2020 | |||
Assets | ||||
Current assets | ||||
Cash and deposits | 1,420,974 | 1,613,625 | ||
Accounts receivable - trade | 54,487 | 20,847 | ||
Work in process | 2,261 | 3,161 | ||
Advance payments - trade | 173 | - | ||
Prepaid expenses | 27,117 | 17,102 | ||
Other | 3,278 | 5,652 | ||
Allowance for doubtful accounts | (2,800) | (300) | ||
Total current assets | 1,505,492 | 1,660,089 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings, net | 59,056 | 195,908 | ||
Structures, net | 1,779 | 1,659 | ||
Tools, furniture and fixtures, net | 19,418 | 22,096 | ||
Land | - | 161,215 | ||
Total property, plant and equipment | 80,254 | 380,880 | ||
Intangible assets | ||||
Software | 127,827 | - | ||
Total intangible assets | 127,827 | - | ||
Investments and other assets | ||||
Investment securities | 45,170 | 15,150 | ||
Shares of subsidiaries and associates | 2,000 | 2,000 | ||
Leasehold and guarantee deposits | 88,702 | 101,916 | ||
Long-term loans receivable | 3,963 | - | ||
Long-term time deposits | 2,000 | - | ||
Long-term prepaid expenses | 4,125 | 2,315 | ||
Deferred tax assets | 9,466 | - | ||
Other | 60 | 20 | ||
Total investments and other assets | 155,488 | 121,401 | ||
Total non-current assets | 363,570 | 502,281 | ||
Total assets | 1,869,062 | 2,162,370 |
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tsukuruba inc. | ||||
(Thousand yen) | ||||
As of July 31,2019 | As of July 31,2020 | |||
Liabilities | ||||
Current liabilities | ||||
Current portion of bonds payable | - | 40,000 | ||
Current portion of long-term borrowings | 64,540 | 115,407 | ||
Accounts payable - other | 74,020 | 83,371 | ||
Accrued expenses | 16,088 | 30,495 | ||
Income taxes payable | 17,886 | 7,788 | ||
Accrued consumption taxes | 68,793 | 5,770 | ||
Advances received | 1,393 | 4,950 | ||
Deposits received | 13,722 | 8,938 | ||
Unearned revenue | 13,387 | 8,845 | ||
Total current liabilities | 269,832 | 305,565 | ||
Non-current liabilities | ||||
Bonds payable | - | 160,000 | ||
Long-term borrowings | 116,340 | 602,799 | ||
Other | 7,697 | 19,198 | ||
Total non-current liabilities | 124,037 | 781,997 | ||
Total liabilities | 393,870 | 1,087,562 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 594,505 | 610,183 | ||
Capital surplus | ||||
Legal capital surplus | 850,780 | 866,458 | ||
Other capital surplus | 456,319 | 456,319 | ||
Total capital surpluses | 1,307,099 | 1,322,777 | ||
Retained earnings | ||||
Other retained earnings | ||||
Retained earnings brought forward | (365,266) | (797,006) | ||
Total retained earnings | (365,266) | (797,006) | ||
Treasury shares | (62,421) | (62,421) | ||
Total shareholders' equity | 1,473,916 | 1,073,531 | ||
Share acquisition rights | 1,276 | 1,276 | ||
Total net assets | 1,475,192 | 1,074,807 | ||
Total liabilities and net assets | 1,869,062 | 2,162,370 |
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tsukuruba inc. | ||
Non-consolidated Statements of Income | ||
(Thousand yen) | ||
For the fiscal year | For the fiscal year | |
ended July 31,2019 | ended July 31,2020 | |
Net sales | 1,515,187 | 1,718,876 |
Cost of sales | 455,285 | 524,855 |
Gross profit | 1,059,901 | 1,194,020 |
Selling, general and administrative expenses | 1,040,468 | 1,344,525 |
Operating profit (loss) | 19,432 | (150,504) |
Non-operating income | ||
Interest income | 74 | 688 |
Dividend income | 0 | 2 |
Subsidy income | 8,479 | - |
Compensation income | - | 2,860 |
Other | 793 | 712 |
Total non-operating income | 9,347 | 4,262 |
Non-operating expenses | ||
Interest expenses | 3,382 | 2,759 |
Interest on bonds | - | 226 |
Bond issuance costs | - | 8,237 |
Share issuance costs | 8,415 | - |
Commission expenses | 8,759 | 1,610 |
Other | 770 | 168 |
Total non-operating expenses | 21,327 | 13,002 |
Ordinary profit (loss) | 7,451 | (159,244) |
Extraordinary losses | ||
Loss on liquidation of investments | - | 9,951 |
Loss on valuation of investment securities | - | 5,920 |
Impairment loss | - | 244,456 |
Total extraordinary losses | - | 260,327 |
Profit (loss) before income taxes | 7,451 | (419,572) |
Income taxes - current | 6,182 | 2,701 |
Income taxes - deferred | (9,466) | 9,466 |
Total income taxes | (3,283) | 12,168 |
Profit (loss) | 10,735 | (431,740) |
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tsukuruba inc.
Non-consolidated Statements of Changes in Net Assets
For the fiscal year ended July 31,2019
(Thousand yen) | ||||||
Shareholders' equity | ||||||
Capital surplus | Retained earnings | |||||
Other retained | ||||||
Share capital | Legal capital | Other capital | Total capital | earnings | Total retained | |
Retained | ||||||
surplus | surplus | surplus | earnings | |||
earnings brought | ||||||
forward | ||||||
Balance at beginning | 90,000 | 346,275 | 451,611 | 797,886 | (376,002) | (376,002) |
of period | ||||||
Changes during | ||||||
period | ||||||
Issuance of new | 504,505 | 504,505 | 504,505 | |||
shares | ||||||
Profit (loss) | 10,735 | 10,735 | ||||
Disposal of treasury | 4,708 | 4,708 | ||||
shares | ||||||
Total changes during | 504,505 | 504,505 | 4,708 | 509,213 | 10,735 | 10,735 |
period | ||||||
Balance at end of | 594,505 | 850,780 | 456,319 | 1,307,099 | (365,266) | (365,266) |
period | ||||||
Shareholders' equity | ||||||
Treasury shares | Total | Share acquisition | Total net assets | |||
shareholders' | rights | |||||
equity | ||||||
Balance at beginning | (66,513) | 445,370 | 1,276 | 446,646 | ||
of period | ||||||
Changes during | ||||||
period | ||||||
Issuance of new | 1,009,010 | 1,009,010 | ||||
shares | ||||||
Profit (loss) | 10,735 | 10,735 | ||||
Disposal of treasury | 4,092 | 8,800 | 8,800 | |||
shares | ||||||
Total changes during | 4,092 | 1,028,545 | - | 1,028,545 | ||
period | ||||||
Balance at end of | (62,421) | 1,473,916 | 1,276 | 1,475,192 | ||
period | ||||||
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tsukuruba inc. | ||||||
For the fiscal year ended July 31,2020 | ||||||
(Thousand yen) | ||||||
Shareholders' equity | ||||||
Capital surplus | Retained earnings | |||||
Other retained | ||||||
Share capital | Legal capital | Other capital | Total capital | earnings | Total retained | |
Retained | ||||||
surplus | surplus | surplus | earnings | |||
earnings brought | ||||||
forward | ||||||
Balance at beginning | 594,505 | 850,780 | 456,319 | 1,307,099 | (365,266) | (365,266) |
of period | ||||||
Changes during | ||||||
period | ||||||
Issuance of new | ||||||
shares - exercise of | 15,678 | 15,678 | 15,678 | |||
share acquisition | ||||||
rights | ||||||
Profit (loss) | (431,740) | (431,740) | ||||
Total changes during | 15,678 | 15,678 | 15,678 | (431,740) | (431,740) | |
period | ||||||
Balance at end of | 610,183 | 866,458 | 456,319 | 1,322,777 | (797,006) | (797,006) |
period | ||||||
Shareholders' equity | ||||||
Share acquisition | ||||||
Treasury shares | Total | Total net assets | ||||
shareholders' | rights | |||||
equity | ||||||
Balance at beginning | (62,421) | 1,473,916 | 1,276 | 1,475,192 | ||
of period | ||||||
Changes during | ||||||
period | ||||||
Issuance of new | ||||||
shares - exercise of | 31,356 | 31,356 | ||||
share acquisition | ||||||
rights | ||||||
Profit (loss) | (431,740) | (431,740) | ||||
Total changes during | (400,384) | (400,384) | ||||
period | ||||||
Balance at end of | (62,421) | 1,073,531 | 1,276 | 1,074,807 | ||
period | ||||||
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tsukuruba inc. | ||
Non-consolidated Statements of Cash Flows | ||
(Thousand yen) | ||
For the fiscal year | For the fiscal year | |
ended July 31,2019 | ended July 31,2020 | |
Cash flows from operating activities | ||
Profit (loss) before income taxes | 7,451 | (419,572) |
Depreciation | 43,804 | 64,834 |
Impairment loss | - | 244,456 |
Increase (decrease) in allowance for doubtful accounts | 1,506 | (2,500) |
Interest and dividend income | (74) | (690) |
Subsidy income | (8,479) | - |
Interest expenses | 3,382 | 2,759 |
Interest expenses on bonds | - | 226 |
Bond issuance costs | - | 8,237 |
Share issuance costs | 8,415 | - |
Commission expenses | 8,759 | 1,610 |
Loss on valuation of investment securities | - | 5,920 |
Loss on liquidation of investments | - | 9,951 |
Decrease (increase) in trade receivables | (36,741) | 33,640 |
Decrease (increase) in inventories | 268,937 | (900) |
Increase (decrease) in accounts payable - other | (67,170) | 16,179 |
Increase (decrease) in accrued consumption taxes | 68,793 | (57,512) |
Increase (decrease) in advances received | (12,527) | 3,556 |
Other, net | 109,191 | 23,132 |
Subtotal | 395,250 | (66,670) |
Interest and dividends received | 11 | 816 |
Interest paid | (3,308) | (3,288) |
Proceeds from subsidy income | 8,479 | - |
Income taxes (paid) refund | (690) | (9,392) |
Net cash provided by (used in) operating activities | 399,741 | (78,533) |
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tsukuruba inc. | |||
(Thousand yen) | |||
For the fiscal year | For the fiscal year | ||
ended July 31,2019 | ended July 31,2020 | ||
Cash flows from investing activities | |||
Payments into time deposits | (20,002) | (45,733) | |
Proceeds from withdrawal of time deposits | 3,000 | 3,000 | |
Purchase of property, plant and equipment | (57,825) | (226,579) | |
Purchase of intangible assets | (74,688) | (98,399) | |
Purchase of investment securities | (5,250) | (9,900) | |
Proceeds from redemption of investment securities | - | 34,000 | |
Payments for investments in silent partnerships | - | (300,000) | |
Proceeds from withdrawal of investments in silent | - | 128,548 | |
partnerships | |||
Payments of leasehold and guarantee deposits | (16,038) | (15,302) | |
Collection of loans receivable | 1,260 | 3,972 | |
Other payments | - | (250) | |
Net cash provided by (used in) investing activities | (169,543) | (526,644) | |
Cash flows from financing activities | |||
Proceeds from long-term borrowings | - | 627,000 | |
Repayments of long-term borrowings | (170,354) | (89,674) | |
Proceeds from issuance of bonds | - | 193,214 | |
Proceeds from exercise of employee share options | - | 31,356 | |
Proceeds from issuance of shares | 1,003,425 | - | |
Proceeds from disposal of treasury shares | 8,800 | - | |
Payment of commission | (4,400) | (5,969) | |
Other payments | - | (2,831) | |
Net cash provided by (used in) financing activities | 837,471 | 753,095 | |
Net increase (decrease) in cash and cash equivalents | 1,067,669 | 147,917 | |
Cash and cash equivalents at beginning of period | 304,302 | 1,371,971 | |
Cash and cash equivalents at end of period | 1,371,971 | 1,519,889 |
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tsukuruba Inc. published this content on 14 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2020 07:04:14 UTC