1st Quarter Results

Source: RNS
RNS Number : 1972Y
Maruwa Co Ld
29 July 2024
 

Translation

 

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

 

Summary of Consolidated Financial Results

for the Three Months Ended June 30, 2024

(Based on Japanese GAAP)





July 29, 2024

Company name:

MARUWA CO., LTD.


Stock exchange listing:

Tokyo, Nagoya

Stock code:

5344

URL  https://www.maruwa-g.com/

Representative:

President

Toshiro Kanbe

Inquiries:

Corporate Officer

Daisuke Yamaguchi

TEL  0561-51-0841

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on financial results:

Yes


Holding of financial results meeting:

Yes


 


(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)

(1) Consolidated operating results (cumulative)

Percentages indicate year-on-year changes

 


Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent


Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Three months ended June 30, 2024

16,243

27.7

5,640

59.8

6,181

49.1

4,502

58.2

Three months ended June 30, 2023

12,722

(8.8)

3,530

(25.7)

4,145

(27.8)

2,846

(30.4)

 

 


Earnings per share

Diluted earnings per share


Yen

Yen

Three months ended June 30, 2024

364.96

-

Three months ended June 30, 2023

230.73

-

 

(2) Consolidated financial position


Total assets

Net assets

Equity ratio


Millions of yen

Millions of yen

%

As of June 30, 2024

124,916

114,015

91.3

As of March 31, 2024

122,515

109,203

89.1

 

 

2. Cash dividends


Annual dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total


Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2024

-

43.00

-

43.00

86.00

Year ending March 31, 2025

-





Year ending March 31, 2025 (Forecast)


47.00

-

47.00

94.00

 

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)


Percentages indicate year-on-year changes

 


Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Earnings per share


Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Six months ending

September 30, 2024

30,800

9.8

10,000

15.6

-

-

-

-

-

Full year

70,300

14.2

23,000

16.2

-

-

-

-

-

 



4. Notes

(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No

 

(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No

 

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:

Yes

Changes in accounting policies due to other reasons:

No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No

 

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)


As of June 30, 2024

12,372,000

 shares

As of March 31, 2024

12,372,000

 shares

Number of treasury shares at the end of the period


As of June 30, 2024

34,148

 shares

As of March 31, 2024

34,125

 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)


Three months ended June 30, 2024

12,337,866

 shares

Three months ended June 30, 2023

12,337,328

 shares

 



 

Quarterly consolidated financial statements

Consolidated balance sheets

 

 

(Millions of yen)

 

As of March 31, 2024

As of June 30, 2024

Assets

 

 

Current assets

 

 

Cash and deposits

55,250

57,265

Notes receivable - trade

360

241

Accounts receivable - trade

13,960

14,437

Electronically recorded monetary claims - operating

1,746

1,575

Merchandise and finished goods

2,248

2,235

Work in process

2,960

3,348

Raw materials and supplies

4,575

4,903

Other

2,516

3,727

Allowance for doubtful accounts

(133)

(137)

Total current assets

83,485

87,599

Non-current assets

 

 

Property, plant and equipment

 

 

Buildings and structures, net

15,947

14,595

Machinery, equipment and vehicles, net

12,040

11,220

Land

5,005

5,016

Construction in progress

2,952

3,528

Other, net

786

821

Total property, plant and equipment

36,733

35,183

Intangible assets

 

 

Other

318

397

Total intangible assets

318

397

Investments and other assets

1,977

1,735

Total non-current assets

39,029

37,316

Total assets

122,515

124,916

 



 

 

 

 

(Millions of yen)

 

As of March 31, 2024

As of June 30, 2024

Liabilities

 

 

Current liabilities

 

 

Notes and accounts payable - trade

2,957

2,906

Electronically recorded obligations - operating

2,355

1,668

Current portion of long-term borrowings

400

400

Income taxes payable

2,851

1,640

Provision for bonuses

1,042

582

Provision for bonuses for directors (and other officers)

124

3

Other

3,091

3,229

Total current liabilities

12,821

10,430

Non-current liabilities

 

 

Deferred tax liabilities

127

104

Other

361

365

Total non-current liabilities

489

470

Total liabilities

13,311

10,901

Net assets

 

 

Shareholders' equity

 

 

Share capital

8,646

8,646

Capital surplus

12,031

12,031

Retained earnings

87,573

91,545

Treasury shares

(210)

(210)

Total shareholders' equity

108,042

112,013

Accumulated other comprehensive income

 

 

Valuation difference on available-for-sale securities

171

167

Foreign currency translation adjustment

989

1,834

Total accumulated other comprehensive income

1,161

2,001

Total net assets

109,203

114,015

Total liabilities and net assets

122,515

124,916

 

 



 

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

 

 

(Millions of yen)

 

Three months ended

June 30, 2023

Three months ended

June 30, 2024

Net sales

12,722

16,243

Cost of sales

6,533

7,665

Gross profit

6,188

8,578

Selling, general and administrative expenses

2,658

2,937

Operating profit

3,530

5,640

Non-operating income

 

 

Interest income

33

35

Rental income

30

32

Foreign exchange gains

525

472

Other

53

28

Total non-operating income

642

569

Non-operating expenses

 

 

Interest expenses

0

0

Rent expenses on real estate for investments

11

20

Other

14

8

Total non-operating expenses

26

29

Ordinary profit

4,145

6,181

Extraordinary income

 

 

Gain on sale of non-current assets

-

0

Subsidy income

-

2,576

Total extraordinary income

-

2,576

Extraordinary losses

 

 

Loss on sale and retirement of non-current assets

127

15

Loss on sale of investment securities

2

-

Loss on tax purpose reduction entry of non-current assets

-

2,360

Total extraordinary losses

129

2,376

Profit before income taxes

4,015

6,381

Income taxes - current

877

1,653

Income taxes - deferred

291

224

Total income taxes

1,169

1,878

Profit

2,846

4,502

Profit attributable to owners of parent

2,846

4,502

 

 



 

Consolidated statements of comprehensive income (cumulative)

 

 

(Millions of yen)

 

Three months ended

June 30, 2023

Three months ended

June 30, 2024

Profit

2,846

4,502

Other comprehensive income

 

 

Valuation difference on available-for-sale securities

61

(4)

Foreign currency translation adjustment

352

844

Total other comprehensive income

414

840

Comprehensive income

3,260

5,343

Comprehensive income attributable to

 

 

Comprehensive income attributable to owners of parent

3,260

5,343

 

 

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