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, 2023 | ||
(Based on Japanese GAAP) | ||
July 31, 2023 | ||
Company name: | CHUGOKU MARINE PAINTS, LTD. | |
Stock exchange listing: | Tokyo | |
Stock code: | 4617 | URL https://www.cmp.co.jp/ |
Representative: | President | Kenshi Date |
Inquiries: | Director, Chief of Administration | Katsunori Kobayashi | TEL 03-3506-3951 |
Headquarter | |||
Scheduled date to file Quarterly Securities Report: | August 8, 2023 | ||
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, 2023 (from April 1, 2023 to June 30, 2023)
(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, 2023 | 26,489 | 24.7 | 2,074 | - | 2,391 | - | 1,729 | - | |||||||||
Three months ended June 30, 2022 | 21,245 | 8.9 | (450) | - | (149) | - | (461) | - | |||||||||
Earnings per share | Diluted earnings per share | ||||||||||||||||
Yen | Yen | ||||||||||||||||
Three months ended June 30, 2023 | 34.90 | - | |||||||||||||||
Three months ended June 30, 2022 | (9.12) | - | |||||||||||||||
(2) Consolidated financial position | |||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||||
As of June 30, 2023 | 115,221 | 65,210 | 52.1 | 1,211.72 | |||||||||||||
As of March 31, 2023 | 112,747 | 63,130 | 51.6 | 1,174.01 | |||||||||||||
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, 2023 | - | 17.00 | - | 18.00 | 35.00 | ||||||||||||
Year ending March 31, 2024 | - | ||||||||||||||||
Year ending March 31, 2024 (Forecast) | 34.00 | - | 34.00 | 68.00 |
3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 105,000 | 5.5 | 8,400 | 116.1 | 9,300 | 113.7 | 8,400 | 118.2 | 169.52 |
1
4. Notes | ||||||
(1) | Changes in significant subsidiaries during the three months ended June 30, 2023 | No | ||||
(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 | ||||
(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, 2023 | 55,000,000 shares | As of March 31, 2023 | 55,000,000 shares | |||
Number of treasury shares at the end of the period | ||||||
As of June 30, 2023 | 5,448,585 shares | As of March 31, 2023 | 5,446,058 shares | |||
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended June 30, 2023 | 49,553,121 shares | Three months ended June 30, 2022 | 50,563,657 shares |
These financial results are not subject to review by certified public accountants or auditing firms.
Explanation regarding the appropriate use of forecasts of business results and other special instructions
These forecasts are based on various assumptions made at the date of release of these materials, including the information available at the date of release of these materials and uncertain factors that may affect future results, and the Company makes no representations as to their achievability. Actual results may differ materially from these forecasts as a consequence of various factors.
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Assets | |||
Current assets | |||
Cash and deposits | 21,177 | 21,762 | |
Notes and accounts receivable - trade | 31,667 | 33,684 | |
Electronically recorded monetary claims - operating | 2,218 | 2,303 | |
Merchandise and finished goods | 12,864 | 12,985 | |
Work in process | 630 | 573 | |
Raw materials and supplies | 10,781 | 10,229 | |
Other | 2,240 | 1,867 | |
Allowance for doubtful accounts | (490) | (492) | |
Total current assets | 81,089 | 82,914 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 4,953 | 4,929 | |
Machinery, equipment and vehicles, net | 3,337 | 3,403 | |
Land | 13,136 | 13,146 | |
Other, net | 3,360 | 3,503 | |
Total property, plant and equipment | 24,788 | 24,983 | |
Intangible assets | 332 | 303 | |
Investments and other assets | |||
Investment securities | 5,324 | 5,813 | |
Retirement benefit asset | 275 | 274 | |
Deferred tax assets | 476 | 473 | |
Other | 1,864 | 1,884 | |
Allowance for doubtful accounts | (1,402) | (1,426) | |
Total investments and other assets | 6,537 | 7,019 | |
Total non-current assets | 31,658 | 32,306 | |
Total assets | 112,747 | 115,221 | |
3
(Millions of yen) | |||
As of March 31, 2023 | As of June 30, 2023 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 11,428 | 11,578 | |
Electronically recorded obligations - operating | 1,730 | 1,902 | |
Short-term borrowings | 20,437 | 20,218 | |
Current portion of long-term borrowings | 1,700 | 1,700 | |
Accounts payable - other | 2,676 | 2,494 | |
Income taxes payable | 719 | 663 | |
Provision for bonuses | 140 | 211 | |
Provision for product warranties | 157 | 145 | |
Other | 3,225 | 3,290 | |
Total current liabilities | 42,216 | 42,205 | |
Non-current liabilities | |||
Long-term borrowings | 1,000 | 1,000 | |
Long-term accounts payable - other | 16 | 16 | |
Deferred tax liabilities | 1,286 | 1,615 | |
Deferred tax liabilities for land revaluation | 2,223 | 2,223 | |
Retirement benefit liability | 1,855 | 1,899 | |
Other | 1,019 | 1,050 | |
Total non-current liabilities | 7,401 | 7,805 | |
Total liabilities | 49,617 | 50,010 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 11,626 | 11,626 | |
Retained earnings | 41,536 | 42,373 | |
Treasury shares | (4,918) | (4,918) | |
Total shareholders' equity | 48,244 | 49,081 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,868 | 2,242 | |
Revaluation reserve for land | 3,798 | 3,798 | |
Foreign currency translation adjustment | 4,131 | 4,786 | |
Remeasurements of defined benefit plans | 133 | 132 | |
Total accumulated other comprehensive income | 9,932 | 10,960 | |
Non-controlling interests | 4,953 | 5,167 | |
Total net assets | 63,130 | 65,210 | |
Total liabilities and net assets | 112,747 | 115,221 | |
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, 2022 | June 30, 2023 | ||
Net sales | 21,245 | 26,489 | |
Cost of sales | 16,781 | 19,249 | |
Gross profit | 4,464 | 7,240 | |
Selling, general and administrative expenses | 4,914 | 5,165 | |
Operating profit (loss) | (450) | 2,074 | |
Non-operating income | |||
Interest income | 20 | 59 | |
Dividend income | 190 | 173 | |
Royalty income | 29 | 30 | |
Technical advisory fee income | 13 | 14 | |
Foreign exchange gains | 101 | 98 | |
Other | 63 | 72 | |
Total non-operating income | 418 | 449 | |
Non-operating expenses | |||
Interest expenses | 94 | 107 | |
Other | 22 | 24 | |
Total non-operating expenses | 117 | 132 | |
Ordinary profit (loss) | (149) | 2,391 | |
Extraordinary income | |||
Gain on sale of non-current assets | 0 | 0 | |
Gain on sale of investment securities | 21 | 56 | |
Gain on sale of membership | 0 | - | |
Total extraordinary income | 21 | 57 | |
Extraordinary losses | |||
Loss on sale of non-current assets | 0 | - | |
Loss related to COVID-19 | 53 | - | |
Total extraordinary losses | 53 | - | |
Profit (loss) before income taxes | (181) | 2,448 | |
Income taxes - current | 204 | 419 | |
Income taxes - deferred | 75 | 172 | |
Total income taxes | 280 | 591 | |
Profit (loss) | (461) | 1,856 | |
Profit (loss) attributable to non-controlling interests | (0) | 127 | |
Profit (loss) attributable to owners of parent | (461) | 1,729 |
5
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
CMP - Chugoku Marine Paints Ltd. published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 05:43:09 UTC.