Consolidated Financial Results
for the Interim Period of the Fiscal Year ending February 29, 2024
(Japanese GAAP)
October 6, 2023
Company Name: Wakita & Co., LTD.
Code Number: 8125
(URL: https://www.wakita.co.jp/)
Stock Exchange Listing: Tokyo Stock Exchange Prime Market
Representative: Teiji Wakita, President and Representative Director
Contact: Atsuhiko Nariyama, Executive Officer, General Manager of General Affairs Division
Phone: 06-6449-1901
Scheduled date to submit the Quarterly Financial Report: October 12, 2023
Scheduled date to commence dividend payment: -
Supplementary information for quarterly financial results: Available
Organization of quarterly financial results briefing: None
(Figures are rounded down to the nearest million yen)
1. Consolidated Financial Results for the Interim Period of Fiscal 2024 (From March 1, 2023 to August 31, 2023)
(1) Consolidated Results of Operations | (Percentage figures indicate changes from the same period of the previous year) | |||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||||||
owners of parent | ||||||||||||||||||||
Interim Period of | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||||
42,179 | 11.7 | 2,757 | 2.0 | 2,858 | 2.2 | 1,628 | (6.0) | |||||||||||||
Fiscal 2024 | ||||||||||||||||||||
Interim Period of | 37,764 | 6.3 | 2,703 | (6.0) | 2,798 | (4.9) | 1,732 | 6.2 | ||||||||||||
Fiscal 2023 | ||||||||||||||||||||
(Note) Comprehensive income: Interim period of fiscal 2024: ¥2,161 million [9.9%] | ||||||||||||||||||||
Interim period of fiscal 2023: ¥1,967 million [4.2%] | ||||||||||||||||||||
Profit per share | Fully diluted profit per share | |||||||||||||||||||
Interim Period of | Yen | Yen | ||||||||||||||||||
32.53 | - | |||||||||||||||||||
Fiscal 2024 | ||||||||||||||||||||
Interim Period of | 33.61 | - | ||||||||||||||||||
Fiscal 2023 | ||||||||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||||||
Interim Period of | Millions of yen | Millions of yen | % | |||||||||||||||||
141,762 | 99,521 | 69.6 | ||||||||||||||||||
Fiscal 2024 | ||||||||||||||||||||
Fiscal 2023 | 138,652 | 99,574 | 71.2 | |||||||||||||||||
(Reference) Equity: Interim | period of fiscal 2024: ¥98,604 | million | ||||||||||||||||||
Fiscal 2023: ¥98,709 million | ||||||||||||||||||||
2. Dividends | ||||||||||||||||||||
Cash dividends per share | ||||||||||||||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | ||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||||
Fiscal 2023 | - | 0.00 | - | 38.00 | 38.00 | |||||||||||||||
Fiscal 2024 | - | 0.00 | ||||||||||||||||||
Fiscal 2024 (Forecast) | - | 43.00 | 43.00 | |||||||||||||||||
(Note) Revision to the dividend forecast from recently announced figures: None |
1
3. Forecast of Consolidated Financial Results for Fiscal 2024 (From March 1, 2023 to February 29, 2024)
(Percentage figures indicate changes | from the previous year) | ||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Profit per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 90,000 | 14.1 | 6,400 | 11.0 | 6,550 | 11.4 | 4,200 | 7.6 | 83.78 |
(Note) Revision | to the financial forecast from recently announced figures: None |
* Notes
-
Significant changes of subsidiaries during the period under review (affecting specific subsidiaries due to changes in scope of consolidation): None
Companies added to the scope: None
Companies removed from the scope: None - Adoption of special accounting treatment for preparing quarterly consolidated financial statements: Not applicable
- Changes in accounting policies, changes in accounting estimates and restatements
- Changes in accounting policies due to the revision of accounting standards, etc.: Applicable
- Any changes in accounting policies other than 1) above: Not applicable
- Changes in accounting estimates: Not applicable
- Restatements: Not applicable
- Number of shares issued (common shares)
- Number of shares issued at the end of period (including treasury shares):
Interim period of fiscal 2024: | 52,021,297 shares |
Fiscal 2023: | 52,021,297 shares |
2) Number of treasury shares at the end of period: | |
Interim period of fiscal 2024: | 2,154,926 shares |
Fiscal 2023: | 1,888,341 shares |
3) Average number of shares during the period: | |
Interim period of fiscal 2024: | 50,057,955 shares |
Interim period of fiscal 2023: | 51,545,947 shares |
- These Consolidated Financial Results are not subject to quarterly review by certified public accountants or an auditing firm.
-
Explanation for the appropriate use of performance forecasts and other special notes:
The performance forecasts and other descriptions on future events presented in this material are based on information that was available at the time of preparation of this material and based on certain assumptions considered to be reasonable, and not intended to guarantee their achievement. The actual performance, etc. may differ materially from these forecasts due to various factors.
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Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Millions of yen) | |||
As of February 28, 2023 | As of August 31, 2023 | ||
Assets | |||
Current assets | |||
Cash and deposits | 20,210 | 18,424 | |
Notes and accounts receivable - trade | 20,182 | 19,891 | |
Securities | 3,713 | 600 | |
Merchandise | 5,305 | - | |
Merchandise and finished goods | - | 5,215 | |
Supplies | 150 | - | |
Raw materials and supplies | - | 184 | |
Work in process | - | 103 | |
Other | 975 | 1,234 | |
Allowance for doubtful accounts | (69) | (85) | |
Total current assets | 50,467 | 45,567 | |
Non-current assets | |||
Property, plant and equipment | |||
Assets for rent, net | 12,457 | 12,511 | |
Real estate for rent, net | 42,678 | 43,728 | |
Land | 11,079 | 11,564 | |
Other, net | 9,501 | 9,980 | |
Total property, plant and equipment | 75,716 | 77,783 | |
Intangible assets | |||
Goodwill | 6,070 | 10,497 | |
Other | 636 | 703 | |
Total intangible assets | 6,706 | 11,201 | |
Investments and other assets | |||
Investment securities | 2,991 | 4,249 | |
Retirement benefit asset | 787 | 833 | |
Other | 2,484 | 2,714 | |
Allowance for doubtful accounts | (503) | (587) | |
Total investments and other assets | 5,761 | 7,209 | |
Total non-current assets | 88,184 | 96,195 | |
Total assets | 138,652 | 141,762 |
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(Millions of yen)
As of February 28, 2023 | As of August 31, 2023 |
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for share based compensation expenses for directors
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities Deferred gains or losses on hedges
Revaluation reserve for land
Remeasurements of defined benefit plans
10,626 | 11,553 |
920 | 1,009 |
122 | 120 |
1,201 | 1,330 |
405 | 498 |
- | 9 |
7,573 | 8,259 |
20,848 | 22,782 |
543 | 652 |
85 | |
106 | |
21 | 26 |
283 | 373 |
17,275 | 18,320 |
18,229 | 19,459 |
39,078 | 42,241 |
13,821 | 13,821 |
16,627 | 16,627 |
71,092 | 70,855 |
(2,154) | (2,503) |
99,386 | 98,800 |
1,086 | 1,530 |
185 | 241 |
(2,144) | (2,144) |
195 | 175 |
Total accumulated other comprehensive income | (676) | (195) |
Non-controlling interests | 864 | 916 |
Total net assets | 99,574 | 99,521 |
Total liabilities and net assets | 138,652 | 141,762 |
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(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income | |||||
(Interim Period of Consolidated Fiscal Year) | (Millions of yen) | ||||
Interim Period of | Interim Period of | ||||
Fiscal 2023 | Fiscal 2024 | ||||
(From March 1, 2022 | (From March 1, 2023 | ||||
to August 31, 2022) | to August 31, 2023) | ||||
Net sales | 37,764 | 42,179 | |||
Cost of sales | 27,435 | 30,334 | |||
Gross profit | 10,328 | 11,844 | |||
Selling, general and administrative expenses | 7,625 | 9,087 | |||
Operating profit | 2,703 | 2,757 | |||
Non-operating income | |||||
Interest income | 2 | 0 | |||
Dividend income | 75 | 73 | |||
Purchase discounts | 18 | 16 | |||
Foreign exchange gains | 35 | 37 | |||
Gain on investments in investment partnerships | 9 | 10 | |||
Other | 38 | 65 | |||
Total non-operating income | 180 | 204 | |||
Non-operating expenses | |||||
Interest expenses | 62 | 89 | |||
Dismantlement cost | 12 | - | |||
Other | 11 | 13 | |||
Total non-operating expenses | 85 | 102 | |||
Ordinary profit | 2,798 | 2,858 | |||
Extraordinary income | |||||
Gain on sale of non-current assets | 13 | 0 | |||
Total extraordinary income | 13 | 0 | |||
Extraordinary losses | |||||
Loss on sale of non-current assets | - | 0 | |||
Loss on retirement of non-current assets | 1 | 6 | |||
Other | - | 1 | |||
Total extraordinary losses | 1 | 8 | |||
Profit before income taxes | 2,810 | 2,851 | |||
Income taxes - current | 1,050 | 1,213 | |||
Income taxes - deferred | (22) | (28) | |||
Total income taxes | 1,028 | 1,185 | |||
Profit | 1,782 | 1,665 | |||
Profit attributable to non-controlling interests | 49 | 37 | |||
Profit attributable to owners of parent | 1,732 | 1,628 | |||
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Wakita & Co. Ltd. published this content on 06 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2023 06:33:19 UTC.