(Translation for reference only)
August 10, 2023
Consolidated Financial Results for the First Quarter of Fiscal Year 2023
For the Three Months Ended June 30, 2023
(Under Japanese GAAP)
Company name: | AIFUL Corporation |
Stock Listing: | Tokyo Stock Exchange |
Stock Code: | 8515 |
URL: | https://www.aiful.co.jp |
Representative: | Mitsuhide Fukuda, President and Chief Executive Officer |
For inquiry: | Toshiaki Ando, Assistant Senior General Manager of Finance Division TEL (03) 4503 - 6050 |
Scheduled date of submission of Quarterly Securities Report: August 14, 2023
Scheduled date of commencement of dividend payments : -
Supplementary materials for Quarterly Financial results: Yes
Quarterly earnings release conference: None
I. Consolidated Financial Results for the First Quarter of Fiscal Year 2023
(April 1, 2023 - June 30, 2023)
(Amounts less than one million yen have been rounded down)
1. Consolidated Operating Results
(Millions of | yen, Percentages indicate | year-on-year changes) | |||||||||||||
Operating Revenue | Operating Profit | Ordinary Profit | Profit Attributable to | ||||||||||||
Owners of Parent | |||||||||||||||
Three months ended | |||||||||||||||
June 30, 2023 | 38,665 | 11.5% | 3,108 | (53.0)% | 3,408 | (49.2)% | 2,968 | (50.1)% | |||||||
June 30, 2022 | 34,692 | 7.3% | 6,609 | 15.8% | 6,714 | 17.5% | 5,945 | 18.6% | |||||||
Note: | Comprehensive income: For the three months ended | ||||||||||||||
June 30, | 2023: | 3,220 million yen | (49.3)% | ||||||||||||
June 30, 2022: | 6,354 million yen | 19.7% | |||||||||||||
Net Income per Share | Diluted Net Income per | ||||||||||||||
(Yen) | Share (Yen) | ||||||||||||||
Three months ended | |||||||||||||||
June 30, 2023 | 6.14 | - | |||||||||||||
June 30, 2022 | 12.29 | - |
2. Consolidated Financial Position
Total Assets
Net Assets
Shareholders' Equity
Ratio (%)
As of | |||||||||||||
June 30, 2023 | 1,115,863 | 182,329 | 16.0 | ||||||||||
March 31, 2023 | 1,070,485 | 179,593 | 16.4 | ||||||||||
Reference: | Shareholders' equity: | As of June 30, 2023: | 178,617 million yen | ||||||||||
As of March 31, 2023: | 176,072 million yen | ||||||||||||
II. Dividend Information | |||||||||||||
Dividend per share (Yen) | |||||||||||||
End of | End of | End of | Year-end | Annual | |||||||||
1st quarter | 2nd quarter | 3rd quarter | |||||||||||
FY ended March 31, 2023 | - | 0.00 | - | 1.00 | 1.00 | ||||||||
FY ending March 31, 2024 | - | ||||||||||||
FY ending March 31, 2024 | 0.00 | - | 1.00 | 1.00 | |||||||||
(Forecast) | |||||||||||||
Note: Revisions to dividend forecasts: None |
-
Earnings Forecast on a Consolidated Basis for the Fiscal Year ending March 31, 2024
(April 1, 2023 - March 31, 2024)
(Millions of yen, Percentages indicate year-on-year changes)
Operating Revenue | Operating Profit | Ordinary Profit | Profit Attributable to | Profit per | |||||
Owners of Parent | Share (Yen) | ||||||||
Six months ending | 77,700 | 10.4% | 7,600 | (37.5)% | 7,600 | (39.9)% | 7,100 | (39.7)% | 14.68 |
September 30, 2023 | |||||||||
Fiscal year ending | 161,200 | 11.8% | 25,200 | 6.2% | 25,500 | 4.4% | 22,600 | 1.1% | 46.72 |
March 31, 2024 | |||||||||
Note: Revisions to consolidated earnings forecasts: None
IV. Other
(1) Changes in significant subsidiaries during the three months ended June 30, 2023 (Changes in specified subsidiaries resulting changes in scope of consolidation): None
(2) Adoption of special accounting methods for quarterly consolidated financial statements: None
(3) Changes in accounting policies, accounting estimates and restatements
(a) Changes in accompanying amendments to accounting standards: None
(b) Changes other than those in (a): None
(c) Change in accounting estimates: None
(d) Restatements: None
(4) Number of shares issued (Common stock)
(a) Number of shares issued at the end of the period | FY2023 1Q | 484,620,136 | shares | FY2022 | 484,620,136 shares |
(including treasury stock) | |||||
(b) Number of treasury stock at the end of the period | |||||
FY2023 1Q | 917,614 | shares | FY2022 | 917,614 shares | |
(c) Average number of shares during the period | |||||
FY2023 1Q | 483,702,522 | shares | FY2022 1Q | 483,702,666 shares | |
* Note: Brief Statement of quarterly financial results is not subject to audit procedures that are conducted by a certified public accountant or an audit corporation.
* Note: Disclaimer concerning the proper use of business results forecasts, etc.
The forecasts and other forward-looking statements contained in this Report are based on information currently available to the Company as well as certain assumptions that the AIFUL Group has judged to be reasonable. Accordingly, actual results may differ from the forecasts due to various factors. For matters related to earnings forecast above, please refer to "Qualitative Information on the Forecasts for the Consolidated Business Results" on page 2.
Contents
1. Quarterly Qualitative Information on Business Results……..…………………….……………………………… | 2 | |
(1) | Qualitative Information on Business Results………….…………………………..…………………...……… | 2 |
(2) | Qualitative Information on the Forecasts for the Consolidated Business Results…………………………..… | 2 |
2. Quarterly Consolidated Financial Statements and Notes………………………………………………………… | 3 | |
(1) | Quarterly Consolidated Balance Sheets…………….…………………………………………………………. | 3 |
(2) | Quarterly Consolidated Statements of Income and | 4 |
Consolidated Statements of Comprehensive Income…………………………………………………….…… | ||
(3) | Quarterly Consolidated Statements of Cash Flows…………..…………………………………………… | 6 |
(4) | Notes to Quarterly Consolidated Financial Statements ………………………….……………………… | 7 |
(Notes on Premise of Going Concern) …….………………………………………………………………….. | 7 |
(Notes in Case of any Significant Changes in the Amount Shareholders' Equity) ……………….………….. | 7 |
1
1. Quarterly Qualitative Information on Business Results
(1) Qualitative Information on Business Results
During the three months ended June 30, 2023, there were growing expectations for economic recovery due to signs of normalization of socioeconomic activities, such as the downgrading of COVID-19 to Class 5 and the recovery of inbound demand. However, the outlook remains uncertain due to concerns about the impact on the economy of the ongoing depreciation of the yen and the price hike caused by global monetary tightening.
In the consumer finance industry, the recovery trend continues, with the number of new contracts at major companies continuing to increase year on year. In addition, although interest repayment claims have been steadily decreasing, it still requires close monitoring as it is easily affected by changes in the external environment.
Under these circumstances, AIFUL Group will strive to improve our earnings structure by strengthening group-wide management, improving productivity by simplifying our organizational structure and operations, and promoting effective and efficient marketing. In addition, we will seek to expand assets by balancing "growth potential" and "profitability" and optimize management resources to maximize consolidated income, while continuing to invest in IT human resources and work on insourcing products and systems.
(Overview of the results)
AIFUL Group's consolidated operating revenue for the first quarter of the fiscal year ending March 31, 2024 rose 11.5% compared with the corresponding period of the previous fiscal year, to 38,665 million yen. The principal components were 22,584 million yen in interest on loans (up 12.8 % year on year), 5,284 million yen in revenue from the credit card business (up 7.6 % year on year) and 4,687 million yen in revenue from the credit guarantee business (up 15.7 % year on year).
Operating expenses increased by 7,474 million yen, or 26.6 %, compared with the corresponding period of the previous fiscal year, to 35,557 million yen. This was mainly due to an increase in provision of allowance for doubtful accounts of 4,980 million yen.
As a result, AIFUL Group posted operating profit of 3,108 million yen (down 53.0 % year on year) and ordinary profit of 3,408 million yen (down 49.2 % year on year). Profit attributable to owners of parent stood at 2,968 million yen (down 50.1 % year on year), reflecting a profit attributable to non-controlling interests of 89 million yen.
(2) Qualitative Information on the Forecasts for the Consolidated Business Results
The Group's earnings forecast for the fiscal year ending March 31, 2024 remains unchanged from the earnings forecast announced on May 11, 2023.
However, these forecasts are based on information available as of the date of publication of these materials. There are various risks in the current business environment surrounding us, and the final results may differ from the forecasts.
2
2. Quarterly Consolidated Financial Statements and Notes
- Quarterly Consolidated Balance Sheets
(Millions of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Assets | |||
Current assets | |||
Cash and deposits | 43,251 | 54,946 | |
Operating loans | 614,229 | 635,019 | |
Accounts receivables - installment | 136,559 | 141,848 | |
Operational investment securities | 2,540 | 2,625 | |
Customers' liabilities for acceptances and guarantees | 221,659 | 228,929 | |
Other operating receivables | 13,185 | 13,810 | |
Purchased receivables | 6,985 | 6,840 | |
Other | 34,576 | 34,370 | |
Allowance for doubtful accounts | (63,040) | (64,271) | |
Total current assets | 1,009,948 | 1,054,119 | |
Non-current assets | |||
Property, plant and equipment | 16,238 | 16,289 | |
Intangible assets | 8,392 | 9,316 | |
Investments and other assets | 35,906 | 36,138 | |
Total non-current assets | 60,537 | 61,744 | |
Total assets | 1,070,485 | 1,115,863 | |
Liabilities | |||
Current liabilities | |||
Notes & accounts payable-trade | 43,066 | 43,074 | |
Acceptances and guarantees | 221,659 | 228,929 | |
Short-term borrowings | 69,582 | 76,370 | |
Short-term loans payable to subsidiaries and associates | 1,734 | 1,179 | |
Commercial papers | 12,000 | 24,200 | |
Current portion of bonds | ― | 30,000 | |
Current portion of long-term borrowings | 183,832 | 193,176 | |
Income taxes payable | 2,006 | 217 | |
Reserves | 1,651 | 888 | |
Other | 37,379 | 36,950 | |
Total current liabilities | 572,912 | 634,987 | |
Non-current liabilities | |||
Bonds payable | 45,000 | 30,000 | |
Long-term borrowings | 249,087 | 246,393 | |
Provision for loss on interest repayment | 17,383 | 15,597 | |
Other | 6,509 | 6,554 | |
Total non-current liabilities | 317,979 | 298,546 | |
Total liabilities | 890,892 | 933,533 | |
Net Assets | |||
Shareholders' equity | |||
Capital stock | 94,028 | 94,028 | |
Capital surplus | 14,017 | 14,017 | |
Retained earnings | 69,419 | 71,904 | |
Treasury shares | (3,110) | (3,110) | |
Total shareholders' equity | 174,354 | 176,839 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,123 | 1,082 | |
Foreign currency translation adjustment | 595 | 696 | |
Total accumulated other comprehensive income | 1,718 | 1,778 | |
Non-controlling interests | 3,520 | 3,712 | |
Total net assets | 179,593 | 182,329 | |
Total liabilities and net assets | 1,070,485 | 1,115,863 |
3
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
aiful Corporation published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 08:25:05 UTC.