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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Aica Kogyo Company, Limited    4206   JP3100800006

AICA KOGYO COMPANY, LIMITED

(4206)
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Aica Kogyo : 【Delayed】Summary of Consolidated Financial Results for the Three Months Ended June 30, 2020(Based on Japanese GAAP)

08/03/2020 | 02:22am EST

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, 2020

(Based on Japanese GAAP)

July 31, 2020

Company name:

Aica Kogyo Company, Limited

Stock exchange listing:

Tokyo, Nagoya

Stock code:

4206

URL http://www.aica.co.jp

Representative:

President

Yuji Ono

Inquiries:

General Manager,Financial Management

Yousuke Mori

TEL 052-533-3135

Department

Scheduled date to file Quarterly Securities Report:

August 7, 2020

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2020 (from April 1, 2020 to June 30, 2020)

(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, 2020

37,364

(14.2)

2,534

(42.5)

3,023

(34.4)

1,504

(45.9)

Three months ended June 30, 2019

43,558

2.0

4,405

1.1

4,608

0.8

2,781

5.2

Earnings per share

Diluted earnings per share

Yen

Yen

Three months ended June 30, 2020

23.04

23.03

Three months ended June 30, 2019

42.60

42.59

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2020

192,120

139,378

65.5

As of March 31, 2020

203,626

144,414

63.9

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, 2020

-

49.00

-

57.00

106.00

Year ending March 31, 2021

-

Year ending March 31, 2021 (Forecast)

49.00

-

57.00

106.00

3. Forecast of consolidated financial results for the year ending March 31, 2021 (from April 1, 2020 to March 31, 2021)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Six months ending

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

77,500

(15.6)

5,100

(49.0)

5,300

(49.5)

3,300

(49.9)

50.54

September 30, 2020

Full year

174,500

(8.9)

14,500

(30.5)

14,700

(31.1)

9,000

(29.3)

137.84

1

4. Notes

  1. Changes in significant subsidiaries during the three months ended June 30, 2020 (changes in specified subsidiaries resulting in the change in scope of consolidation):
  2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

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:

No

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, 2020

67,590,664

shares

As of March 31, 2020

67,590,664

shares

Number of treasury shares at the end of the period

As of June 30, 2020

2,296,935

shares

As of March 31, 2020

2,296,827

shares

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

Three months ended June 30, 2020

65,293,769

shares

Three months ended June 30, 2019

65,294,414

shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2020

As of June 30, 2020

Assets

Current assets

Cash and deposits

40,690

38,453

Notes and accounts receivable - trade

61,691

52,443

Merchandise and finished goods

10,153

11,185

Work in process

1,132

1,443

Raw materials and supplies

8,098

7,939

Other

8,002

6,835

Allowance for doubtful accounts

(620)

(670)

Total current assets

129,148

117,630

Non-current assets

Property, plant and equipment

49,478

48,547

Intangible assets

Goodwill

6,352

6,971

Other

3,784

4,014

Total intangible assets

10,136

10,985

Investments and other assets

Other

14,874

14,969

Allowance for doubtful accounts

(12)

(12)

Total investments and other assets

14,862

14,956

Total non-current assets

74,477

74,490

Total assets

203,626

192,120

Liabilities

Current liabilities

Notes and accounts payable - trade

24,799

20,846

Electronically recorded obligations - operating

5,207

4,847

Short-term borrowings

5,947

5,367

Income taxes payable

3,616

4,457

Provision for bonuses

1,957

2,461

Other

10,040

7,726

Total current liabilities

51,568

45,706

Non-current liabilities

Long-term borrowings

914

797

Retirement benefit liability

1,476

1,426

Other

5,252

4,812

Total non-current liabilities

7,643

7,036

Total liabilities

59,212

52,742

Net assets

Shareholders' equity

Share capital

9,891

9,891

Capital surplus

13,276

13,276

Retained earnings

106,786

104,555

Treasury shares

(2,009)

(2,009)

Total shareholders' equity

127,945

125,714

3

(Millions of yen)

As of March 31, 2020

As of June 30, 2020

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

2,743

2,940

Deferred gains or losses on hedges

16

(0)

Foreign currency translation adjustment

(474)

(2,767)

Remeasurements of defined benefit plans

(33)

(43)

Total accumulated other comprehensive income

2,252

129

Share acquisition rights

27

27

Non-controlling interests

14,188

13,506

Total net assets

144,414

139,378

Total liabilities and net assets

203,626

192,120

4

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

Consolidated statements of income (cumulative)

(Millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Net sales

43,558

37,364

Cost of sales

32,097

27,425

Gross profit

11,460

9,938

Selling, general and administrative expenses

7,055

7,403

Operating profit

4,405

2,534

Non-operating income

Interest income

47

45

Dividend income

161

148

Gain on sales of investment securities

-

536

Other

191

305

Total non-operating income

400

1,036

Non-operating expenses

Interest expenses

28

36

Sales discounts

39

33

Delivery delay conpensation

-

364

Other

128

113

Total non-operating expenses

196

547

Ordinary profit

4,608

3,023

Extraordinary losses

Loss on disaster

18

-

Total extraordinary losses

18

-

Profit before income taxes

4,590

3,023

Income taxes - current

1,473

1,560

Income taxes - deferred

(37)

(330)

Total income taxes

1,435

1,229

Profit

3,154

1,794

Profit attributable to non-controlling interests

373

289

Profit attributable to owners of parent

2,781

1,504

5

Consolidated statements of comprehensive income (cumulative)

(Millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Profit

3,154

1,794

Other comprehensive income

Valuation difference on available-for-sale securities

(457)

197

Deferred gains or losses on hedges

(0)

(17)

Foreign currency translation adjustment

363

(3,010)

Remeasurements of defined benefit plans, net of tax

(77)

(10)

Share of other comprehensive income of entities accounted

5

8

for using equity method

Total other comprehensive income

(167)

(2,832)

Comprehensive income

2,987

(1,038)

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

2,537

(618)

Comprehensive income attributable to non-controlling

450

(420)

interests

6

Support Data for the Summary of Consolidated

Financial Results for

the Three Months Ended June 30, 2020

Challenge & Creation

July 31, 2020

AICA KOGYO CO., LTD

1. Summary of consolidated financial results for the Three Months Ended June 30, 2020

[Millions of yen]

FY Mar/2020

FY Mar/2021

Q1

Profit

Q1

Profit

Growth

Q1-Q2

Progress

margin

margin

Rate

Forecast

rate

Net Sales

43,558

37,364

14.2%

77,500

48.2%

Operating Profit

4,405

10.1%

2,534

6.8%

42.5%

5,100

49.7%

Ordinary Profit

4,608

10.6%

3,023

8.1%

34.4%

5,300

57.0%

Profit attributable to

2,781

6.4%

1,504

4.0%

45.9%

3,300

45.6%

owners of the parent

[Yen]

Profit per share

42.6

23.0

45.9%

50.5

45.6%

1

2. Sales result at the Three Months Ended June 30, 2020 and the breakdown by business segment

[Millions of yen]

Net Sales

Operating Profit

FY

FY

FY

Progress

FY

FY

FY

Progress

Mar/2020

Mar/2021

Difference

Mar/2021

Mar/2020

Mar/2021

Difference

Mar/2021

Q1

Q1

Q1-Q2

rate

Q1

Q1

Q1-Q2

rate

Forecast

Forecast

Chemical

1,856

1,293

▲ 563

2,375

54.4%

Amount

25,048

20,693

▲ 4,354

39,600

52.3%

Products

7.4%

6.2%

▲ 0.6%

6.0%

Profit margin

Construction

3,249

1,913

▲ 1,336

4,362

43.9%

Amount

18,509

16,670

▲ 1,839

37,900

44.0%

Materials

17.6%

11.5%

▲ 0.6%

11.5%

Profit margin

▲ 700

▲ 671

28

▲ 1,637

41.0%

Non-allocation operating expenses→)

Amount

4,405

2,534

▲ 1,871

5,100

49.7%

Amount

TOTAL

43,558

37,364

▲ 6,193

77,500

48.2%

10.1%

6.8%

▲ 3.3%

6.6%

Profit margin

2

3. Results of domestic and overseas sales (breakdown by business segment) at the Three Months Ended June 30, 2020

[Millions of yen]

Net Sales

FY Mar/2021

FY Mar/2021

Q1-Q2

Q1

Forecast

YoY

Result

Progress rate

(Q1 per Q1-Q2

forecast)

Domestic sales

58,104.5

15%

27,252.7

46.9%

Chemical

24,329.0

20%

12,698.6

52.2%

Overseas

Products

sales

Construction

5,137.2

20%

2,586.7

50.4%

Materials

  • Excluding new consolidated companies
  • Sales before removing consolidated transactions

2

4. Chemical Products Segment : Sales Breakdown by Product

[Billions of yen]

FY Mar/2020

FY Mar/2021

Q1

Q1

Growth Rate

Adhesive

15.6

12.98

▲16.8%

AAP(*)

12.43

10.31

▲17.0%

Construction Resin

2.18

1.91

▲12.5%

Speciality &

4.77

3.58

▲25.1%

Performcance materials

Others

2.48

2.21

▲10.8%

Total

25.04

20.69

▲17.4%

(*)AAPAICA Asia Pacific Holding Pte. Ltd. (Singapore)

3

5. Construction Materials Segment : Sales Breakdown by Product

[Billions of yen]

FY Mar/2020

FY Mar/2021

Q1

Q1

Growth Rate

Melamine Decorative Laminated

3.94

4.22

7.1%

Sheets

Decorative Polyester Boards,

2.89

2.20

▲23.8%

Decorative Films

Melamine Noncombustible

4.48

3.88

▲13.4%

Decorative Panel "Cerarl"

Nonconbustible Decorative Panel

2.19

1.53

▲30.3%

(Except "Cerarl" )

Counterstops,

3.74

3.68

▲1.7%

Postforming products

Fittings, Interior Housing

1.24

1.13

▲8.4%

Materials

TOTAL

18.50

16.67

▲9.9%

4

The matters such as current plan, prospect, strategy, or conviction which indicated in this report but not historical fact are only the expectation of the future achievement, and there are the risks or unexpected factors.

This information has made based on the judgment of the manager of Aica Kogyo Co., Ltd. using current available information. The actual result can be difference from the current prospect because of various important elements, so please avoid depending on fully to only this prospect.

This document is not a thing for investment inducement. We request that the decision about the investment will be performed by the judgment of each user.

5

Disclaimer

Aica Kogyo Company Limited published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 06:22:18 UTC


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Sales 2021 176 B 1 701 M 1 701 M
Net income 2021 9 263 M 89,3 M 89,3 M
Net cash 2021 36 700 M 354 M 354 M
P/E ratio 2021 25,0x
Yield 2021 2,99%
Capitalization 231 B 2 233 M 2 232 M
EV / Sales 2021 1,10x
EV / Sales 2022 1,03x
Nbr of Employees 4 781
Free-Float 76,7%
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Technical analysis trends AICA KOGYO COMPANY, LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 3 930,00 JPY
Last Close Price 3 545,00 JPY
Spread / Highest target 12,8%
Spread / Average Target 10,9%
Spread / Lowest Target 8,89%
EPS Revisions
Managers and Directors
NameTitle
Yuji Ono President & Representative Director
Satoshi Todo Director & Senior Head-Operations
Ryoji Mori Director, Head-Technology, Safety & Environment
Naomi Ishii Executive Officer & Manager-Tamba R&D Center
Terutoku Iwata Director
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