Financial Statement for the Three Months Ended June 30, 2023
August 10, 2023 | |||
Name of listed company: | Mipox Corporation | Stock exchange: | Tokyo Stock Exchange Inc., Standard Market |
Stock code: | 5381 | URL | http://www.mipox.co.jp/ |
Name and Title of Representative: | Jun Watanabe, President | ||
Inquiries to: | Yosuke Nihira, Director | (TEL) | +81-3-6911-2300 |
Quarterly Report Filing Date (as planned): | August 10, 2023 |
Expected start date of dividend payment: | ― |
Preparation of supplementary materials for quarterly financial results: | Yes |
Holding of quarterly financial results briefing: | None |
(Figures are rounded down to the nearest million yen) |
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)
(1) Consolidated Operating Results (year to date)
(% implies the rate of increase/decrease year-on-year)
Net sales | Operating income | Ordinary income | Profit attributable to | |||||
owners of parent | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Three months ended June 30, 2023 | 1,867 | (33.9) | (336) | - | (231) | - | (175) | - |
Three months ended June 30, 2022 | 2,826 | 9.2 | 62 | (87.0) | 331 | (26.8) | 293 | (20.2) |
(Note) Comprehensive income: | Three months ended June 30, 2023 | (195) million yen | [- %] | |||
Three months ended June 30, 2022 | 388 million yen | [7.6%] | ||||
Net income per share | Diluted Net Income | |||||
Per Share | ||||||
Yen | Yen | |||||
Three months ended June 30, 2023 | (12.32) | ― | ||||
Three months ended June 30, 2022 | 20.64 | - |
(2) Consolidated Financial Position
Total assets | Net assets | Shareholders' equity | ||||
ratio | ||||||
Millions of yen | Millions of yen | % | ||||
Three months ended June 30, 2023 | 15,986 | 7,659 | 47.9 | |||
March 31, 2023 | 16,195 | 7,997 | 49.4 | |||
(Reference) Equity capital: | Three months ended June 30, 2023 | 7,659 million yen | ||||
March 31, 2023 | 7,997 million yen |
2. Status of Distribution
Dividends per share | ||||||||
First quarter end | Second quarter | Third quarter | Year end | Full year | ||||
end | end | |||||||
Yen | Yen | Yen | Yen | Yen | ||||
FY2022 | ― | 0.00 | ― | 10.00 | 10.00 | |||
FY2023 | ― | |||||||
FY2023 (forecast) | ― | 0.00 | ― | ― | ― | |||
(Notes) | Revisions of forecast for dividends published most recently: None | |||||||
Dividend for the fiscal year ending March 31, 2024 (forecast) has not been determined. |
3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2024 (April 1, 2023, to March 31, 2024)
(% implies the rate of increase/decrease year-on-year)
Net sales | Operating income | Ordinary income | Profit attributable to | Net income per | |||||||
owners of parent | share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
Full year | 10,500 | 4.7 | 500 | 134.8 | 600 | 40.7 | 500 | ― | 35.11 | ||
(Note) Revisions of financial forecast published most recently: None |
- Others
(1) | Change in important subsidiaries during the period | : | None | |
(Changes in certain specified subsidiaries resulting in revised scope of consolidation) | ||||
Addition | ― company (Company name) | |||
Excluded | ― company (Company name) | |||
(2) | Adoptions of simplified accounting methods and accounting methods particular to the | : | None | |
presentation of quarterly financial statements |
- Changes in accounting principles, changes in accounting estimates and restatement
(i) | Changes in accounting principles associated with revisions to accounting standards | None | |||||
and other regulations | : | ||||||
(ii) | Changes in accounting principles due to other reasons | : | None | ||||
(iii) | Changes in accounting estimates | : | None | ||||
(iv) | Restatement | : | None | ||||
(4) Shares outstanding (common shares) | |||||||
(i) | Number of shares outstanding | As of June 30, 2023 | 14,451,920 | As of March 31, 2023 | 14,451,920 | ||
(including treasury shares) | |||||||
(ii) | Number of treasury shares | As of June 30, 2023 | 212,630 | As of March 31, 2023 | 212,630 | ||
(iii) | Average number of shares outstanding | As of June 30, 2023 | 14,239,290 | Three months ended | 14,239,310 | ||
(cumulative, consolidated at the end of | June 30, 2022 | ||||||
the 1st quarter) |
(Note) The number of treasury shares as of March 31, 2023 and June 30, 2023 includes the Company's shares of 23,300 shares and 23,300 shares that are held by the trust account, respectively.
- Quarterly financial results are not subject to quarterly review procedures by certified public accountants or audit firms.
- Explanation on proper use of financial forecasts and other special notes
- The financial forecast and other forward-looking statements contained in this document are based on information currently available to the Company and certain assumptions deemed to be reasonable. Actual results may differ significantly due to various factors.
- Table of Contents for Attachments
1. | Qualitative Information on Quarterly Financial Results | 2 |
(1) | Explanation of Operating Results | 2 |
(2) | Explanation of Financial Position | 2 |
(3) | Explanation of Consolidated Financial Forecasts and Other Forward-Looking Information | 2 |
2. | Consolidated Financial Statements and Key Notes | 3 |
(1) | Consolidated Balance Sheet | 3 |
(2) | Consolidated Income Statements & Comprehensive Income | 5 |
(3) | Notes to Quarterly Consolidated Financial Statements | 6 |
(Notes on Going Concern Assumptions) | 6 | |
(Notes on Significant Changes in the Amount of Shareholders' Equity) | 6 | |
(Notes on Changes in the Scope of Consolidation or the Scope of Application of the Equity Method) .... | 6 | |
(Segment Information, etc.) | 7 |
―1―
1. Qualitative Information on Quarterly Financial Results
- Explanation of Operating Results
For the three months ended June 30, 2023, the Japanese economy witnessed a movement toward increased economic and social activities, and has been recovering moderately followed by the easing of restrictions on activities as Japan downgraded COVID- 19 to a "common infectious disease." On the other h and, economic trends remain uncertain due to downside risks to overseas economies caused by monetary tightening in various countries, hikes in raw material prices, and price increases caused by the yen's depreciation.
Under these circumstances, based on our management styles of "Add values to product business with engi neering approach," "Change from OEM business to Engineering Service," a nd "Improvement the Management base supporting rapi d changes and diversity," the Group has proceeded with various in itiatives to add value for the success of our customers using "coating, slitting, and polishing" technologies that are our strengths and basis.
As a result, for the three months ended June 30, 2023, the Group posted net sales of 1,867 million yen (down 33.9% year-on- year), operating loss of 336 million yen (operating income of 62 million yen in the same period of the previous year), ordinary loss of 231 million yen (ordinary income of 331 million yen in the same period of the previous year), and loss attributable to owners of parent of 175 million yen (profit attributable to owners of parent of 293 million yen in the same period of the previous year).
Results by segment are as follows:
-
Product Business
In the Product Business, net sales were 1,553 million yen (down 33.7% year-on-year).
Sales in the semiconductor, hard disk, and optical fiber markets declined due to a drop in demand in the high-tech market caused by a slowdown in data center investment. As a result, we posted a segment loss of 158 million yen (segment profit of 267 million yen in the same period of the previous year). - Processing Service Business
The Processing Service Business posted net sales of 313 million yen (down 34.9% year-on-year).
Sales decreased due to a slowdown in demand in the end market affected by demand trends for PCs, tablets, and smartphones. As a result, we posted a segment loss of 177 million yen (segment loss of 205 million yen in the same period of the previous year).
-
Product Business
- Explanation of Financial Position
(Assets)
Total assets as of June 30, 2023, amounted to 15,986 million yen, a decrease of 208 million yen from March 31, 2023. This was mainly due to increases of 74 million yen in merchandise and finished goods, 88 million yen in work in process, and 130 million yen in other current assets, and decreases of 225 million yen in cash and deposits and 276 million yen in accounts receivable - trade.
(Liabilities)
Liabilities as of June 30, 2023, stood at 8,326 million yen, an increase of 129 million yen from March 31, 2023. The major factor for the increase was 861 million yen in short-term borrowings, and factors causing a decrease included 95 million yen in notes and accounts payable - trade, 255 million yen in accounts payable - other, 146 million yen in other current liabilities, and 235 million yen in long-term borrowings.
(Net assets)
Net assets as of June 30, 2023, decreased 337 million yen from March 31, 2023, to 7,659 million yen. The main factors included the recording of 175 million yen of loss attributable to owners of parent, and a decrease of 147 million yen in retained earnings due to the payment of dividends.
As a result, the equity ratio as of June 30, 2023, was 47.9%.
- Explanation of Consolidated Financial Forecasts and Other Forward-Looking Information
There is no change to the consolidated financial forecasts for the fiscal year ending March 2024 announced on May 15, 2023.
―2―
2. Consolidated Financial Statements and Key Notes
(1) | Consolidated Balance Sheet | |||
(Thousands of yen) | ||||
End of previous fiscal year | End of third quarter of | |||
current fiscal year | ||||
(March 31, 2023) | ||||
(June 30, 2023) | ||||
Assets | ||||
Current assets | ||||
Cash and deposits | 2,613,396 | 2,388,394 | ||
Notes receivable - trade | 281,098 | 234,409 | ||
Accounts receivable - trade | 1,837,842 | 1,561,224 | ||
Electronically recorded monetary claims - | 266,427 | 296,904 | ||
operating | ||||
Merchandise and finished goods | 786,882 | 861,240 | ||
Work in process | 1,708,985 | 1,797,834 | ||
Raw materials and supplies | 631,730 | 599,629 | ||
Other | 908,918 | 1,039,122 | ||
Allowance for doubtful accounts | (2,895) | (78) | ||
Total current assets | 9,032,387 | 8,778,679 | ||
Non-current assets | ||||
Property, plant and equipment | ||||
Buildings and structures | 6,983,940 | 7,034,043 | ||
Machinery, equipment and vehicles | 3,770,079 | 3,885,694 | ||
Tools, furniture and fixtures | 435,865 | 473,795 | ||
Land | 2,019,286 | 2,036,679 | ||
Leased assets | 673,193 | 678,361 | ||
Construction in progress | 115,500 | 28,624 | ||
Accumulated depreciation | (7,333,927) | (7,461,361) | ||
Total property, plant and equipment | 6,663,939 | 6,675,837 | ||
Intangible assets | ||||
Goodwill | 92,483 | 86,484 | ||
Software | 23,127 | 29,487 | ||
Telephone subscription right | 377 | 377 | ||
Total intangible assets | 115,988 | 116,350 | ||
Investments and other assets | ||||
Investment securities | 55,000 | 55,000 | ||
Shares of subsidiaries and associates | 38,102 | 38,102 | ||
Retirement benefit asset | 213,148 | 249,702 | ||
Deferred tax assets | 1,801 | 1,775 | ||
Other | 74,909 | 71,023 | ||
Total investments and other assets | 382,960 | 415,603 | ||
Total non-current assets | 7,162,888 | 7,207,790 | ||
Total assets | 16,195,275 | 15,986,470 | ||
―3―
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Mipox Corporation published this content on 31 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 06:31:07 UTC.