August 8, 2022
Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2023
(Three Months Ended June 30, 2022)
[Japanese GAAP] | ||
Company name: | C. Uyemura & Co., Ltd. | Listing: Tokyo Stock Exchange |
Stock code: | 4966 | URL: https://www.uyemura.co.jp/ |
Representative: | Hiroya Uyemura, President | |
Contact: | Shigeo Sakabe, Managing Director and Head of Corporate Management Division | |
Telephone: | +81-6-6202-8518 |
Scheduled date of filing of Quarterly Report: | August 8, 2022 |
Starting date of dividend payment: | - |
Preparation of supplementary materials for quarterly financial results: | None |
Holding of quarterly financial results meeting: | None |
Note: The original disclosure in Japanese was released on August 8, 2022 at 15:30 (GMT +9).
(All amounts are rounded down to the nearest million yen.)
1. Consolidated Financial Results (April 1, 2022 - June 30, 2022)
(1) Results of operations | (Percentages represent year-over-yearchanges.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
Three months ended Jun. 30, 2022 | 20,187 | 28.1 | 3,866 | 37.8 | 4,294 | 42.1 | 3,663 | 72.9 | ||
Three months ended Jun. 30, 2021 | 15,760 | 28.1 | 2,804 | 43.0 | 3,022 | 46.0 | 2,118 | 27.7 |
Note: Comprehensive income (million yen) | Three months ended Jun. 30, 2022: | 5,177 | (up 41.5%) | |||
Three months ended Jun. 30, 2021: | 3,657 | (up 273.0%) | ||||
Net income per share | Net income per share | |||||
(basic) | (diluted) | |||||
Yen | Yen | |||||
Three months ended Jun. 30, 2022 | 217.57 | - | ||||
Three months ended Jun. 30, 2021 | 121.03 | - |
Note: The Company conducted a 2-for-1 common stock split effective on July 1, 2021. Net income per share (basic) has been calculated as if this stock split had taken place at the beginning of the previous fiscal year.
(2) Financial position
Total assets | Net assets | Equity ratio | Net assets per share | |||
Million yen | Million yen | % | Yen | |||
As of Jun. 30, 2022 | 100,211 | 77,576 | 77.4 | 4,667.65 | ||
As of Mar. 31, 2022 | 101,189 | 78,712 | 77.8 | 4,567.35 | ||
Reference: Equity (Shareholders' equity + Accumulated other comprehensive income) (million yen) | ||||||
As of Jun. 30, 2022: 77,576 | As of Mar. 31, 2022: 78,712 |
2. Dividends
Dividend per share | ||||||||
1Q-end | 2Q-end | 3Q-end | Year-end | Total | ||||
Yen | Yen | Yen | Yen | Yen | ||||
Fiscal year ended Mar. 31, 2022 | - | 0.00 | - | 130.00 | 130.00 | |||
Fiscal year ending Mar. 31, 2023 | - | |||||||
Fiscal year ending Mar. 31, 2023 (forecast) | 0.00 | - | 180.00 | 180.00 |
Note: Revisions to the most recently announced dividend forecast: None
3. Consolidated Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)
(Percentages represent year-over-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Net income per | ||||||
owners of parent | share (basic) | |||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
First half | 35,300 | 6.9 | 6,400 | 2.8 | 6,700 | 2.1 | 5,500 | 21.0 | 317.91 | |
Full year | 75,000 | 3.7 | 14,000 | 0.4 | 14,600 | (0.0) | 10,900 | 12.6 | 630.03 |
Note: Revisions to the most recently announced consolidated forecast: None
*Notes
(1) Changes in consolidated subsidiaries during the period (changes in scope of consolidation): None
Newly added: - | Excluded: - |
- Application of the specific method for accounting treatment for preparation of quarterly consolidated financial statements: None
- Changes in accounting policies and accounting-based estimates, and restatements
- Changes in accounting policies due to revisions in accounting standards, others: None
- Changes in accounting policies other than 1) above: None
- Changes in accounting-based estimates: None
- Restatements: None
- Number of shares issued (common shares)
- Number of shares issued at the end of the period (including treasury shares)
As of Jun. 30, 2022: | 19,756,080 shares | As of Mar. 31, 2022: | 19,756,080 shares |
2) Number of treasury shares at the end of the period | |||
As of Jun. 30, 2022: | 3,135,992 shares | As of Mar. 31, 2022: | 2,522,368 shares |
3) Average number of shares outstanding during the period | |||
Three months ended Jun. 30, 2022: | 16,838,321 shares | Three months ended Jun. 30, 2021: | 17,506,037 shares |
Note: The Company conducted a 2-for-1 common stock split effective on July 1, 2021. The average number of shares outstanding during the period has been calculated as if this stock split had taken place at the beginning of the previous fiscal year.
* The quarterly financial report is not subject to quarterly review by certified public accountants or auditing firms.
*Cautionary statement with respect to forward-looking statements and other special items
Forecasts of future performance in this report are based on assumptions judged to be valid and information currently available to the Company, but are not promises by the Company regarding future performance. Actual results are affected by various factors and may differ substantially. For discussion of the assumptions and notes of caution for usage, please refer to "1. Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation of Consolidated Forecast and Other Forward-looking Statements" on page 3 of the attachments.
C. Uyemura & Co., Ltd. (4966) First Quarter of the Fiscal Year Ending March 31, 2023 | ||
Contents of Attachments | ||
1. Qualitative Information on Quarterly Consolidated Financial Performance | 2 | |
(1) | Explanation of Results of Operations | 2 |
(2) | Explanation of Financial Position | 3 |
(3) | Explanation of Consolidated Forecast and Other Forward-looking Statements | 3 |
2. Quarterly Consolidated Financial Statements and Notes | 4 | |
(1) | Consolidated Balance Sheets | 4 |
(2) | Consolidated Statements of Income and Comprehensive Income | 6 |
For the Three-month Period | 6 | |
(3) | Notes to Quarterly Consolidated Financial Statements | 7 |
Going Concern Assumption | 7 | |
Significant Changes in Shareholders' Equity | 7 | |
Segment and Other Information | 7 |
1
C. Uyemura & Co., Ltd. (4966) First Quarter of the Fiscal Year Ending March 31, 2023
1. Qualitative Information on Quarterly Consolidated Financial Performance
(1) Explanation of Results of Operations
For the first three months of the fiscal year ending on March 31, 2023 (hereinafter "the period under review"), despite the progress being made in balancing infection controls against COVID-19 and economic activities, the outlook for the Japanese economy remains uncertain. This is due to the concerns over the impacts of the persistent lockdown in Shanghai and other major cities in China as well as the recent situations in Ukraine. In addition, Japanese economy also suffered from the soaring natural resource prices and restrictions on supplies along with the rapid fall of yen.
In the electronic device market, which is the Uyemura Group's main market area, demands for semiconductors and electronic components remained solid, despite the supply shortage of semiconductors in some areas. This was backed by the progresses being made in electrification, autonomous driving, and digital transformation (DX) of automobiles.
In this environment, the Group has focused on the development of high value-added products, and proposal and sales activities for these products to make the operations more profitable.
As a result, consolidated net sales for the period under review were 20,187 million yen (up 28.1% year-over-year), operating profit 3,866 million yen (up 37.8%), ordinary profit 4,294 million yen (up 42.1%), and profit attributable to owners of parent 3,663 million yen (up 72.9%).
The results of operations by business segment are shown as below.
1) Surface finishing materials business
Both segment sales and profit of mainstay plating chemicals for package PWBs saw year-over-year increases thanks to an increase in demand in the high-speed communication market and semiconductor market.
Consequently, net sales in the surface finishing materials business increased 31.9% year-over-year to 16,859 million yen and segment profit increased 46.8% year-over-year to 3,575 million yen.
2) Surface finishing machinery business
Segment sales of the surface finishing machinery business increased year-over-year thanks to the strong demands for the surface finishing machineries for semiconductors and electronic components especially in Taiwan market. However, segment profit decreased year-over-year due to the soaring prices of various components used to manufacture the surface finishing machineries such as resin plates, electronic components, and filters.
Consequently, net sales in the surface finishing machinery business increased 17.2% year-over-year to 1,828 million yen but segment profit decreased 36.0% year-over-year to 137 million yen.
3) Plating job business
While Taiwan showed a strong performance, the business environment remained challenging for automotive industries in Thailand and Indonesia. This is due to the persistent production adjustments of various automobile manufacturers resulting from the impacts of COVID-19 and also the soaring prices of raw materials such as non-ferrous metals and others.
Consequently, net sales in the plating job business increased 6.3% year-over-year to 1,281 million yen but segment profit decreased 34.8% year-over-year to 15 million yen.
4) Real estate rental business
The occupancy rate of properties owned by the Company remained strong including office buildings for rent in Shin-Osaka.
Consequently, net sales in the real estate rental business increased 1.6% year-over-year to 211 million yen and segment profit increased 4.7% year-over-year to 133 million yen.
2
C. Uyemura & Co., Ltd. (4966) First Quarter of the Fiscal Year Ending March 31, 2023
It is noted that sales of the segments above include intersegment sales and transfers.
(2) Explanation of Financial Position
Total assets at the end of the period under review decreased 977 million yen from the end of the previous fiscal year to 100,211 million yen. This was primarily attributable to a 608 million yen increase in notes receivable-trade, and a 206 million yen increase in contract assets, which were partially offset by a 1,017 million yen decrease in accounts receivable-trade and an 869 million yen decrease in cash and deposits.
Total liabilities increased 157 million yen from the end of the previous fiscal year to 22,634 million yen. This was primarily attributable to a 560 million yen increase in contract liabilities, and a 373 million yen increase in electronically recorded obligations-operating, which were partially offset by a 992 million yen decrease in notes and accounts payable-trade and a 412 million yen decrease in income taxes payable.
Total net assets decreased 1,135 million yen from the end of the previous fiscal year to 77,576 million yen. This was primarily attributable to a 1,700 million yen increase in foreign currency translation adjustment and a 1,423 million yen increase in retained earnings, which were more than offset by a 4,077 million yen increase in treasury shares.
As a result, the equity ratio decreased by 0.4 percentage points from 77.8% at the end of the previous fiscal year to 77.4%.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
We have maintained the first-half and full-year consolidated forecasts that we announced in the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2022" released on May 13, 2022.
Actual results may differ from these forecasts due to various factors in the future.
3
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C.Uyemura & Co. Ltd. published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2022 02:45:02 UTC.