Financial Results for the Fiscal Year Ended (FYE) March 15, 2021 [Japanese GAAP] (Consolidated) April 26, 2021
Company Name | CAWACHI LIMITED | |
Security Code | 2664 | URL |
Representative | (Title) | President |
Corporate Officer | ||
Contact | (Title) | Director Administration |
Manager |
Scheduled date of the Ordinary General Meeting of Shareholders
Scheduled commencement date of dividend payment Scheduled filing date of the securities report Supplemental information for financial results:
Investor meeting presentation:
Exchange listed on: | Tokyo Stock Exchange, | |
first section | ||
http://www.cawachi.co.jp/ | ||
(Name) | Shinji Kawachi | |
(Name) | Hiroshi Asuke | (TEL) 0285 (32) 1131 |
June 10, 2021
June 11, 2021
June 11, 2021 Available
Scheduled (for securities analysts and institutional investors)
(Amounts rounded down to the nearest millions of yen.)
1. Consolidated Financial Results for the FYE March, 2021 (From March 16, 2020 to March 15, 2021) | ||||||||||||||||
(1) Consolidated Operating Results | (Percent represents comparison changes from the previous year.) | |||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | |||||||||
FYE March, | 284,492 | 5.2 | 10,560 | 86.1 | 11,581 | 76.2 | 7,109 | 86.0 | ||||||||
2021 | ||||||||||||||||
FYE March, | 270,313 | 1.7 | 5,675 | 30.1 | 6,573 | 19.1 | 3,822 | 89.5 | ||||||||
2020 | ||||||||||||||||
(Note) Comprehensive income: FYE March, 2021 | ¥ 7,125 million (86.5 %) | |||||||||||||||
FYE March, 2020 | ¥ 3,821 million (94.4 %) | |||||||||||||||
Profit per share - | Profit to | Ordinary profit to | Operating profit | |||||||||||||
Profit per share | Shareholders' | |||||||||||||||
diluted | Assets | to Net sales | ||||||||||||||
equity | ||||||||||||||||
yen | yen | % | % | % | ||||||||||||
FYE March, | 318.73 | 318.49 | 7.3 | 6.1 | 3.7 | |||||||||||
2021 | ||||||||||||||||
FYE March, | 170.36 | 170.23 | 4.1 | 3.5 | 2.1 | |||||||||||
2020 | ||||||||||||||||
(Reference) Equity method investment gain (loss): FYE March, 2021 | ¥ ― million | |||||||||||||||
FYE March, 2020 | ¥ ― million | |||||||||||||||
(2) Consolidated Financial Positions | ||||||||||||||||
Total assets | Net assets | Shareholders' equity | Net assets per share | |||||||||||||
ratio | ||||||||||||||||
million | yen | million yen | % | yen | ||||||||||||
FYE March, | 194,100 | 100,857 | 51.9 | 4,517.46 | ||||||||||||
2021 | ||||||||||||||||
FYE March, | 188,190 | 94,699 | 50.3 | 4,243.64 | ||||||||||||
2020 | ||||||||||||||||
(Reference) Shareholders' equity: | FYE March, 2021 | ¥ 100,780 million | ||||||||||||||
FYE March, 2020 | ¥ 94,621 million |
(3) 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 the year | ||||||||||||||||||
million yen | million yen | million yen | million yen | |||||||||||||||
FYE March, | 15,267 | (3,152) | (3,984) | 41,235 | ||||||||||||||
2021 | ||||||||||||||||||
FYE March, | 12,159 | (3,718) | (3,747) | 33,105 | ||||||||||||||
2020 | ||||||||||||||||||
2. Dividends | ||||||||||||||||||
Annual dividends per share | Total | Dividend | Ratio of | |||||||||||||||
dividends to | ||||||||||||||||||
End of | amount of | payout ratio | ||||||||||||||||
End of | End of | End of | net assets | |||||||||||||||
the | Total | annual | (consolidate | |||||||||||||||
1Q | 2Q | 3Q | (consolidate | |||||||||||||||
year | dividends | d) | ||||||||||||||||
d) | ||||||||||||||||||
yen | yen | yen | yen | yen | million yen | % | % | |||||||||||
FYE March, 2020 | - | 0.00 | - | 45.00 | 45.00 | 1,003 | 26.4 | 1.1 | ||||||||||
FYE March, 2021 | - | 0.00 | - | 50.00 | 50.00 | 1,115 | 15.7 | 1.1 | ||||||||||
FYE March, 2022 | - | 0.00 | - | 45.00 | 45.00 | 18.2 | ||||||||||||
(forecast) | ||||||||||||||||||
(Note) Breakdown of year-end dividend for FYE March 15, 2021: Ordinary dividend of ¥45, commemorative dividend of ¥5 for the 60th anniversary of the founding
3. Forecast of Consolidated Results for FYE March, 2022 (March 16, 2021 to March 15, 2022)
(Percentage represents changes from the previous year for Full year, and on YoY basis for Quarterly results.)
Profit attributable | Profit per | |||||||||
Net sales | Operating profit | Ordinary profit | to owners of | |||||||
share | ||||||||||
parent | ||||||||||
million | % | million | % | million | % | million | % | yen | ||
yen | yen | yen | yen | |||||||
2Q (cumulative) | 143,800 | (3.2) | 4,200 | (35.8) | 4,700 | (33.0) | 3,050 | (33.9) | 136.72 | |
Full year | 282,000 | (0.9) | 7,500 | (29.0) | 8,500 | (26.6) | 5,500 | (22.6) | 246.59 |
*NOTES | |||||
(1) | Changes in major subsidiaries during the cumulative quarter under review (Change | None | |||
in specific subsidiaries that will accompany a change in scope of consolidation): | |||||
Newly consolidated: | - company (companies) | (name of company) | |||
Excluded: | - company (companies) | (name of company) | |||
(2) | Change in accounting policies or estimates and retrospective restatements | ||||
1) | Change in accounting policies in accordance with revision | of accounting | None | ||
standards: | |||||
2) | Change in accounting policies other than item 1) above: | None | |||
3) | Change in accounting estimates: | None | |||
4) | Retrospective restatements: | None | |||
(3) | Number of shares issued (common stock) |
- Number of shares issued at the end of the period (including treasury stock)
- Number of shares of treasury stock at the end of the period
- Average number of shares issued during the period
FYE | March, | 24,583,420 | FYE March, | 24,583,420 |
2021 | shares | 2020 | shares | |
FYE | March, | 2,274,254 | FYE March, | 2,286,092 |
2021 | shares | 2020 | shares | |
FYE | March, | 22,304,319 | FYE March, | 22,437,232 |
2021 | 2020 | shares | ||
(Reference) Overview of Non-consolidated Financial Results | ||||||||||||||
Non-consolidated Financial Results for the FYE March, 2021 (From March 16, 2020 to March 15, 2021) | ||||||||||||||
(1) Non-consolidated Operating Results | (Percent represents comparison changes from the previous year.) | |||||||||||||
Net sales | Operating profit | Ordinary profit | Net Profit | |||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | |||||||
FYE March, | 266,394 | 5.8 | 10,473 | 90.7 | 11,423 | 80.9 | 7,044 | 97.3 | ||||||
2021 | ||||||||||||||
FYE March, | 251,871 | 2.1 | 5,492 | 21.0 | 6,314 | 12.6 | 3,571 | 41.1 | ||||||
2020 | ||||||||||||||
Profit per share | Profit per share - | |||||||||||||
diluted | ||||||||||||||
yen | yen | |||||||||||||
FYE March, | 315.86 | 315.62 | ||||||||||||
2021 | ||||||||||||||
FYE March, | 159.17 | 159.06 | ||||||||||||
2020 | ||||||||||||||
(2) Non-consolidated Financial Positions | ||||||||||||||
Total assets | Net assets | Shareholders' equity | Net assets per share | |||||||||||
ratio | ||||||||||||||
million | yen | million yen | % | yen | ||||||||||
FYE March, | 189,625 | 101,406 | 53.4 | 4,542.08 | ||||||||||
2021 | ||||||||||||||
FYE March, | 183,639 | 95,312 | 51.9 | 4,271.15 | ||||||||||
2020 | ||||||||||||||
(Reference) Shareholders' equity: | FYE March, 2021 | ¥ 101,330 million | ||||||||||||
FYE March, 2020 | ¥ 95,235 million |
- This summary of consolidated financial results is not subject to audit by certified public accountants or an audit firm.
- Explanation for appropriate use of operating results forecasts, other special notes
Forward-looking statements, including business forecasts, contained in this document are based on information available to Cawachi Ltd. and certain assumptions deemed reasonable as of the date of this document, and actual performance and results may differ significantly from the forecasts described here due to various factors. Please refer to "1. Overview of Results of Operations, etc. (1) Overview of Results of Operations for the Current Fiscal Year" of the attached documents for the assumptions underlying the forecasts and cautions when using the forecasts.
○Contents of Attached Documents | ||
1. Overview of Results of Operations, etc. ....................................................................................................................... | 2 | |
(1) | Overview of Results of Operations for the Current Fiscal Year .............................................................................. | 2 |
(2) | Overview of Financial Position for the Current Fiscal Year .................................................................................... | 3 |
(3) Principles of Appropriation of Profits and Dividend Payment for the Current Fiscal Year and the Next Fiscal | ||
Year .......................................................................................................................................................................... | 4 | |
2. Basic Policy on Selecting Accounting Standards ......................................................................................................... | 4 | |
3. Consolidated financial statements ................................................................................................................................ | 5 | |
(1) | Consolidated balance sheets .................................................................................................................................... | 5 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income ................................. | 7 |
Consolidated statements of income......................................................................................................................... | 7 | |
Consolidated statements of comprehensive income................................................................................................ | 8 | |
(3) | Consolidated statements of changes in equity ......................................................................................................... | 9 |
(4) | Consolidated statements of cash flows .................................................................................................................. | 11 |
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1. Overview of Results of Operations, etc.
-
Overview of Results of Operations for the Current Fiscal Year (Results of operations for the current fiscal year)
During the fiscal year ended March 15, 2021, Japan's economy showed signs of recovery as economic activities that had been stagnant due to the effects of the spread of COVID-19 gradually resumed; however, uncertainty over the economic outlook remained due to the fact that there was no prospect for a recovery such as a trend to see additional waves of COVID-19, and other factors. A budget-minded trend in consumer spending has continued because of looming concerns over various future increases in burdens as well as downside risks to the economy and other causes. On the other hand, in addition to the response to new lifestyles, as the trend for the spread of COVID-19 continued, sales of products related to protective equipment remained steady. Also, demand for eating at home, consumer necessities, and other items trended upward due partly to the continued tendency for people to avoid going out as a precautionary measure and other factors, despite the easing of the situation.
In the drugstore sector, to which the Cawachi Group ("the Group") belongs, sales of products related to equipment to protect against COVID-19 and products associated with avoiding going out as a precautionary measure have been robust. However, the Group has seen an increasingly tough business environment with continuously intensifying price competition among different retail sectors and different store formats, as well as more new store openings by competitors, in addition to sluggish demand from inbound tourists.
Under these circumstances, the Group endeavored to strengthen its functions and to procure and supply products such as pharmaceutical-related items and consumer necessities to fulfill its mission as a retailer in times of emergency. In addition, the Group conducted a commemorative campaign to celebrate the 60th anniversary of its founding.
In terms of new store openings, the Group opened a total of eight stores: five stores in Tochigi, and one store each in Fukushima, Ibaraki, and Saitama, all of which are areas it currently operates. The Group also launched a total of seven dispensing pharmacies with existing stores: three in Tochigi and one each in Miyagi, Yamagata, Fukushima, and Ibaraki. The Group closed one store in Niigata. Accordingly, the Group has a total of 346 stores (of which 123 have an in-store dispensing pharmacy).
As a result, the Group recorded net sales of 284,492 million yen (year-on-year increase of 5.2%) on a consolidated basis for the current fiscal year under review. On the other hand, in terms of profits, the Group recorded operating profit of 10,560 million yen (year-on-year increase of 86.1%) and ordinary profit of 11,581 million yen (year-on-year increase of 76.2%), and profit attributable to owners of parent amounted to 7,109 million yen (year-on-year increase of 86.0%). These were mainly due to the elimination of the effects of provision for points card certificates resulting from the transition to a new points card system in the previous year and other factors, in addition to the increase in gross profit margin due to stronger demand for products related to protective equipment and other products, and the control of selling, general and administrative expenses such as advertising expenses in connection with the review of promotional measures under COVID-19 pandemic.
(Sales)
The Group's net sales by segment are as follows.
Previous consolidated fiscal year | Current consolidated fiscal year | ||||
(From March 16, 2019 | (From March 16, 2020 | Year-on-year | |||
Segment | to March 15, 2020) | to March 15, 2021) | comparison | ||
(%) | |||||
Amount | (%) | Amount | (%) | ||
(Mil. yen) | (Mil. yen) | ||||
Pharmaceuticals | 46,527 | 17.3 | 50,958 | 18.0 | 109.5 |
Cosmetics | 22,621 | 8.4 | 20,680 | 7.3 | 91.4 |
Sundries | 76,221 | 28.3 | 79,613 | 28.1 | 104.4 |
General food | 124,046 | 46.0 | 132,338 | 46.6 | 106.7 |
Total | 269,417 | 100.0 | 283,591 | 100.0 | 105.3 |
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CAWACHI Limited published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 14:48:08 UTC.