Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 [J-GAAP]
May 13, 2021 | ||||||||||
Company Name: | Dai Nippon Printing Co., Ltd. | |||||||||
Stock exchange listing: | Tokyo | |||||||||
Stock code: | 7912 | URL: https://www.dnp.co.jp/eng/ | ||||||||
Representative: | Yoshinari Kitajima, President | |||||||||
Contact person: | Daisuke Sasaki, General Manager, IR and Public Relations Division | |||||||||
Telephone: | +81-3-6735-0124 | |||||||||
General meeting of shareholders: | June 29, 2021 | |||||||||
Dividend payment date: | June 30, 2021 | |||||||||
Securities report issuing date: | June 29, 2021 | |||||||||
Preparation of earnings presentation material: Yes | ||||||||||
Holding of earnings announcement: | Yes (for institutional investors and analysts) | |||||||||
*Amounts under one million yen have been rounded down. | ||||||||||
1. Consolidated financial results for the year ended March 31, 2021 | ||||||||||
(April 1, 2020 - March 31, 2021) | ||||||||||
(1) Consolidated financial results | ||||||||||
(Percentages show change from corresponding year-ago period.) | ||||||||||
Net Income | ||||||||||
Net Sales | Operating Income | Ordinary Income | Attributable to | |||||||
Parent Company | ||||||||||
Shareholders | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||
Year ended March 31, 2021 | 1,335,439 | (4.7) | 49,529 | (12.0) | 59,907 | (6.1) | 25,088 | (63.9) | ||
Year ended March 31, 2020 | 1,401,894 | 0.0 | 56,274 | 12.8 | 63,786 | 9.5 | 69,497 | - | ||
Note: Comprehensive income: Year ended March 31, 2021: ¥148,228 million (-%)
Year ended March 31, 2020: ¥2,536 million (-%)
Net Income | Diluted Net | Ordinary | Operating | |||||||||
Income | ROE | Income to | Income to | |||||||||
per Share | ||||||||||||
per Share | Total Assets | Net Sales | ||||||||||
Yen | Yen | % | % | % | ||||||||
Year ended March 31, 2021 | 89.32 | 89.28 | 2.6 | 3.4 | 3.7 | |||||||
Year ended March 31, 2020 | 235.18 | 235.08 | 7.3 | 3.6 | 4.0 | |||||||
Reference: Equity in earnings of affiliates: Year ended March 31, 2021: ¥6,742 million Year ended March 31, 2020: ¥6,050 million
Note: Year-on-year change in comprehensive income for year ended March 31, 2021 exceeded 1,000% and is therefore shown as "-".
(2) Consolidated financial position
Total Assets | Net Assets | Equity Ratio | Net Assets | |||||||
per Share | ||||||||||
Million yen | Million yen | % | Yen | |||||||
As of March 31, 2021 | 1,825,019 | 1,098,613 | 57.2 | 3,716.85 | ||||||
As of March 31, 2020 | 1,721,724 | 968,574 | 53.2 | 3,260.38 | ||||||
Reference: Stockholders' equity: As of March 31, 2021: ¥1,043,977 million | As of March 31, 2020: ¥915,779 million |
(3) Consolidated cash flows
Cash Flows from | Cash Flows from | Cash Flows from | Cash and Cash | |||||||
Equivalents | ||||||||||
Operating Activities | Investing Activities | Financing Activities | ||||||||
at End of the Year | ||||||||||
Million yen | Million yen | Million yen | Million yen | |||||||
Year ended March 31, 2021 | 61,681 | (56,284) | (78,268) | 304,223 | ||||||
Year ended March 31, 2020 | 93,937 | 191,057 | (41,280) | 377,367 | ||||||
2. Dividends
Dividends per Share | Dividend | Dividends to | |||||||
Total Dividends | Net Assets | ||||||||
First | Second | Third | Payout Ratio | ||||||
Year-end | Annual | (Annual) | Ratio | ||||||
(Consolidated) | |||||||||
Quarter-end | Quarter-end | Quarter-end | |||||||
(Consolidated) | |||||||||
Yen | Yen | Yen | Yen | Yen | Million yen | % | % | ||
Year ended March 31, 2020 Year ended March 31, 2021
Year ending March 31, 2022 (Forecast)
- | 32.00 | - | 32.00 | 64.00 | 18,609 | 27.2 | 2.0 | ||||
- | 32.00 | - | 32.00 | 64.00 | 17,976 | 71.7 | 1.8 | ||||
- | 32.00 | - | 32.00 | 64.00 | 33.9 | ||||||
3. Consolidated earnings forecasts for the year ending March 31, 2022 (April 1, 2021 - March 31, 2022)
(Percentages show change from corresponding year-ago period.)
Net Income | |||||||||||||||||||
Net Sales | Operating Income | Ordinary Income | Attributable to | Net Income | |||||||||||||||
Parent Company | per Share | ||||||||||||||||||
Shareholders | |||||||||||||||||||
Full year | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||||||||||
1,350,000 | 1.1 | 57,000 | 15.1 | 65,000 | 8.5 | 53,000 | 111.3 | 188.69 | |||||||||||
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a change in the scope of consolidation): No
- Changes in accounting policies, changes in accounting estimates, and restatement of revisions
- Changes in accounting policies with revision of accounting standards: No
2) | Changes in accounting policies other than the 1) above: | No |
3) | Changes in accounting estimates: | No |
4) | Restatement of revisions: | No |
(3) Number of common shares issued and outstanding
- Number of common shares outstanding at end of each period (including treasury shares)
- Number of treasury shares at end of each period
- Average number of shares outstanding during the period
As of March 31, | 324,240,346 | As of March 31, | 324,240,346 |
2021 | shares | 2020 | shares |
As of March 31, | 43,363,670 | As of March 31, | 43,359,344 |
2021 | shares | 2020 | shares |
Year ended | 280,879,143 | Year ended | 295,506,271 |
March 31, 2021 | shares | March 31, 2020 | shares |
(Reference) Non-consolidated financial results
Non-consolidated financial results for the year ended March 31, 2021 (April 1, 2020 - March 31, 2021)
(1) Non-consolidated financial results
(Percentages show change from corresponding year-ago period.)
Net Sales | Operating Loss | Ordinary Income | Net Income | |||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||
Year ended March 31, 2021 | 925,259 | (6.1) | (1,155) | - | 27,709 | 80.4 | 12,644 | (57.9) | ||||||
Year ended March 31, 2020 | 984,888 | 0.2 | (6,507) | - | 15,359 | (16.7) | 29,998 | - | ||||||
Net Income | Diluted Net Income | |||||||||||||
per Share | per Share | |||||||||||||
Yen | Yen | |||||||||||||
Year ended March 31, 2021 | 45.02 | - | ||||||||||||
Year ended March 31, 2020 | 101.51 | - | ||||||||||||
(2) Non-consolidated financial position | ||||||||||||||
Total Assets | Net Assets | Equity Ratio | Net Assets | |||||||||||
per Share | ||||||||||||||
Million yen | Million yen | % | Yen | |||||||||||
As of March 31, 2021 | 1,417,801 | 646,612 | 45.6 | 2,302.03 | ||||||||||
As of March 31, 2020 | 1,359,719 | 560,334 | 41.2 | 1,994.84 | ||||||||||
Reference: Stockholders' equity: As of March 31, 2021: ¥646,612 million As of March 31, 2020: ¥560,334 million
- These financial results are exempt from auditing by a certified public accountant or an auditing company.
- Explanation regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements in this report, including earnings forecasts, are based on assumptions about economic conditions, market trends, and other factors at the time the report was published. Actual results may differ significantly due to a variety of factors.
For information about earnings forecasts, see the section titled, "1. Overview of operating results, etc., (4) Forecasts," on pages 5-7.
The DNP Group will hold a briefing (conference call) for institutional investors and analysts regarding its financial results and medium-term management plan on May 17, 2021. Materials used at the briefing will be uploaded to the DNP website at around 14:00 JST on the same day.
Contents | ||
1. Overview of operating results, etc........................................................................................................... | 2 | |
(1) | Overview of operating results for the year ended March 31, 2021 ................................................... | 2 |
(2) | Overview of financial position for the year ended March 31, 2021 ................................................... | 4 |
(3) | Overview of cash flows for the year ended March 31, 2021 ............................................................. | 5 |
(4) Forecasts ........................................................................................................................................... | 5 | |
(5) | Basic policies regarding the allocation of profits and dividends for the year ended March 31, 2021 | |
and year ending March 31, 2022 ...................................................................................................... | 7 | |
(6) | Business risks ................................................................................................................................... | 7 |
2. Information on the DNP Group ............................................................................................................. | 11 | |
3. Management policies ............................................................................................................................ | 15 | |
(1) | Core policies.................................................................................................................................... | 15 |
(2) | Management targets ....................................................................................................................... | 15 |
(3) | Medium- and long-term management strategy ............................................................................... | 15 |
4. Basic approach to selecting accounting standards............................................................................... | 17 | |
5. Consolidated financial statements and key notes................................................................................. | 18 | |
(1) | Consolidated balance sheets .......................................................................................................... | 18 |
(2) | Consolidated statements of income and comprehensive income................................................... | 20 |
(3) | Consolidated statements of changes in net assets......................................................................... | 22 |
(4) | Consolidated statements of cash flows........................................................................................... | 24 |
(5) | Notes regarding consolidated financial statements ........................................................................ | 26 |
[Notes on premise of a going concern]........................................................................................... | 26 | |
[Basis of presenting consolidated financial statements]................................................................. | 26 | |
[Consolidated balance sheets] ....................................................................................................... | 28 | |
[Consolidated statements of income] ............................................................................................. | 28 | |
[Consolidated statements of changes in net assets] ...................................................................... | 29 | |
[Segment information, etc.]............................................................................................................. | 31 | |
[Per share information] ................................................................................................................... | 35 | |
[Significant subsequent events]...................................................................................................... | 35 | |
6. Non-consolidated financial statements and key notes ......................................................................... | 36 | |
(1) | Non-consolidated balance sheets ................................................................................................... | 36 |
(2) | Non-consolidated statements of income ......................................................................................... | 38 |
(3) | Non-consolidated statements of changes in net assets.................................................................. | 39 |
(4) | Notes regarding non-consolidated financial statements ................................................................. | 40 |
[Notes on premise of a going concern]........................................................................................... | 40 |
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1. Overview of operating results, etc.
(1) Overview of operating results for the year ended March 31, 2021
Business conditions surrounding the DNP Group during the fiscal year ending March 2021 were unfavorable, with a sharp retrenchment in consumer spending and corporate activity due to restrictions on the movement of people and goods caused by the novel coronavirus (hereafter, COVID-19). While worldwide economic activity gradually resumed around summer 2020, this was followed by a renewed increase in global COVID-19 cases from autumn through winter. Uncertainty regarding the outlook for containing COVID-19 increased in 2021, including the Japanese government's declaration of a state of emergency.
Amid these conditions, the DNP Group worked to create new value that meets people's expectations as well as resolving social issues in order to realize a better, more sustainable society and provide more comfortable lifestyles. The DNP Group optimized its capital allocation to target focus business areas with high profitability and prospects for market growth, such as data distribution, the Internet of Things (IoT)/next-generation communications, mobility, and environment by combining its unique strengths in printing and information (P&I) and forming deeper alliances with its numerous partners. It also worked to build a strong business portfolio by restructuring to enhance competitiveness.
While demand for printed materials fell sharply during the fiscal year due to the cancellation of events and exhibitions and the suspension of sales promotion activities, the adoption of remote working, more widespread use of online learning and medical consultations, and accelerated uptake of a variety of online services resulted in growth for IT services and IT equipment-related products leveraging the DNP Group's sophisticated information security platform. The heightened global focus on reducing environmental impact also resulted in greater demand for environmentally conscious products and services.
The DNP Group also worked to strengthen its business base to support long-term growth by using information and communications technology (ICT) to improve productivity, revamping its internal system platform, and accelerating its environmental, human capital, and human rights initiatives in response to megatrends such as digital transformation (DX).
The DNP Group's main business activities during the fiscal year included focusing on products such as its battery pouches for lithium-ion batteries, metal masks used in the production of organic light-emitting diode (OLED) displays, and optical film for displays, in which it has leading global market shares, and smart cards, in which it holds the leading market share in Japan. It also worked to strengthen businesses associated with Business Process Outsourcing (BPO), which handles business processes on behalf of companies seeking to respond to labor shortages and work-style reforms.
In the mobility business, one of its focus areas, the DNP Group worked to develop products and services to support a "next-generation automotive society," which requires lower environmental impact, higher energy efficiency, and greater information security, safety, and comfort. Specifically, the DNP Group developed and provided battery pouches for lithium-ion batteries used in electric vehicles (EVs) and other applications, decorative films and panels that enhance vehicles' interior/exterior functionality and design, and security solutions leveraging encryption and other technologies.
In the IoT/next-generation communications and data distribution businesses, the DNP Group worked to foster a safer and more enjoyable information society by developing products such as transparent antenna films compatible with the 5G standards that launched in Japan in March 2020 and vapor chambers for smartphone heat dissipation components. The DNP Group also launched
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Dai Nippon Printing Co. Ltd. published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 08:02:06 UTC.