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DIGITAL INFORMATION TECHNOLOGIES CORPORATION

(3916)
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Digital Information Technologies : Summary of Business Results for the Fiscal Year Ended June 2021 (Consolidated)

09/27/2021 | 03:02am EDT

Summary of Business Results for the Fiscal Year Ended June 2021

[Japan GAAP] (Consolidated)

August 12, 2021

Company

Digital Information Technologies Corporation

Listed on the TSE

Stock Code

3916

URL: http://www.ditgroup.jp/

Representative

Satoshi Ichikawa, President and Representative Director

Contact

Ken Mochizuki, Director, Executive Officer, General Manager

T E L: +81-3-6311-6532

of Corporate Planning Division

Expected date of annual shareholders' meeting: September 28, 2021 Expected starting date of dividend payment: September 29, 2021

Expected date of filing of annual securities report: September 29, 2021

Preparation of supplementary financial document: Yes

Results briefing: Yes (for institutional investors and analysts)

Rounded down to million yen

1. Consolidated business results for the fiscal year ended June 2021

(July 1, 2020 through June 30, 2021)

(1) Consolidated results of operations

(% change from the previous corresponding period)

Net sales

Operating income

Ordinary income

Net income attributable to

owners of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Year ended Jun. 2021

14,444

7.0

1,722

27.3

1,730

27.4

1,196

22.3

Year ended Jun. 2020

13,495

9.2

1,352

23.5

1,357

22.7

978

32.6

(Note) Comprehensive income:

Year ended June 2021: 1,189 million yen (20.2%)

Year ended June 2020: 989 million yen (34.5%)

Net income

Diluted net income

Return on

Ratio of ordinary

Ratio of operating

income to total

per share

per share

equity

income to net sales

assets

Yen

Yen

%

%

%

Year ended Jun. 2021

78.47

-

29.2

29.4

11.9

Year ended Jun. 2020

64.18

-

29.6

27.1

10.0

(2) Consolidated financial position

Total assets

Net assets

Shareholders' equity

Net assets

ratio

per share

Million yen

Million yen

%

Yen

As of Jun. 2021

6,388

4,526

70.9

296.87

As of Jun. 2020

5,364

3,660

68.2

240.04

(Reference) Shareholders' equity:

As of June 2021: 4,526 million yen

As of June 2020: 3,660 million yen

(3) Consolidated results of cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at the end of period

Million yen

Million yen

Million yen

Million yen

Year ended Jun. 2021

1,260

5

-334

3,326

Year ended Jun. 2020

927

-80

-287

2,393

2. Dividends

Annual dividend

Total

Dividend

Rate of total

dividend to

End of

End of

End of

dividend

payout ratio

Year-end

Total

net assets

(Total)

(Consolidated)

1Q

2Q

3Q

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

Year ended Jun. 2020

-

9.00

-

11.00

20.00

307

31.4

9.2

Year ended Jun. 2021

-

10.00

-

14.00

24.00

368

30.8

8.9

Year ending Jun. 2022

-

15.00

-

15.00

30.00

35.0

(forecast)

(% change from the previous corresponding period)

3Forecast of consolidated business results for the fiscal year ending June 2022 (July 1, 2021 through June 30, 2022)

Net sales

Operating income

Ordinary income

Net income

Net income per

attributable to owners

share

of parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Year ending Jun.

15,600

8.0

1,900

10.3

1,900

9.8

1,318

10.2

86.44

2022

*Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the scope of consolidation): None
  1. Changes in rules, procedures and indication methods of accounting procedures
    Changes in accounting policies associated with revision of accounting standards: Changes in accounting policies other than
    Changes in accounting estimates
    Restatement
  2. Shares outstanding (common stock)
  • Number of shares outstanding at the end of period (treasury stock included)

As of June 2021

15,501,820 shares

As of June 2020

15,501,820 shares

  • Treasury stock at the end of period:

As of June 2021

253,489 shares

As of June 2020

253,459 shares

  • Average number of stock during period (cumulative period)

Year ended June 2021

15,248,356 shares

Year ended June 2020

15,248,376 shares

  • None
  • None
  • None
  • None

(Note) The number of treasury stock to be deducted from the calculation of the number of treasury stock at the end of the period and the number of treasury stock during the period includes the Company's shares held by Asset Management Services Trust Bank, Ltd. (Trust E-Account) as trust assets under the Employees' Benefit Trust (J-ESOP) Plan. Asset Management Services Trust Bank, Ltd. merged with JTC Holdings, Ltd. and Japan Trustee Services Bank, Ltd. on July 27, 2020, and changed its trade name to Custody Bank of Japan, Ltd.

(Reference) Summary of non-consolidated business results

1. Non-consolidated business results for the fiscal year ended June 2021 (July 1, 2020 through June 30, 2021)

(1) Non-consolidated results of operations

(% change from the previous corresponding period)

Net sales

Operating income

Ordinary income

Net income

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Year ended Jun. 2021

13,781

8.2

1,653

29.7

1,658

29.8

1,145

25.1

Year ended Jun. 2020

12,736

8.9

1,275

21.6

1,277

20.8

915

29.8

Net income

per share

Yen

Year ended Jun. 2021

75.12

Year ended Jun. 2020

60.06

(2) Non-consolidated financial position

Total assets

Net assets

Shareholders' equity

Net assets per

ratio

share

Million yen

Million yen

%

Yen

As of Jun. 2021

5,912

4,145

70.1

271.88

As of Jun. 2020

4,930

3,332

67.6

218.53

(Reference) Shareholders' equity:

As of June 2021: 4,145 million yen

As of June 2020: 3,332 million yen

*Financial summary is not subject to auditing procedures by certified public accountants or auditing firms.

*Explanation regarding appropriate use of business forecasts and other special instructions

Forecasts regarding future performance in this material are based on information currently available to the Company and certain assumptions that the company deems to be reasonable at the time this report was prepared. The Company does not make promises about the achievements. Actual results may differ significantly from the forecasts due to various factors.

○ Contents

1. Overview of Business Results………………………………………………………………………………………………...

2

(1) Business Results for the Subject Period…………………………………………………………………………………..

2

(2) Financial Position for the Subject Period…………………………………………………………………………………

4

(3) Cash Flows for the Subject Period………………………………………………………………………………………..

4

(4) Future Outlook……………………………………………………………………………………………………………

5

(5) Basic Policy on Profit Distribution and Dividends for the Subject and Next Periods……………………………………

6

2. Overview of the Corporate Group……………………………………………………………………………………………

7

3. Basic Policy on Selection of Accounting Standards………………………………………………………………………….

8

4. Consolidated Financial Statements and Major Notes…………………………………………………………………………

9

  1. Consolidated Balance Sheets……………………………………………………………………………………………... 9
  2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income………………………….. 11 Consolidated Statements of Income………………………………………………………………………………….. 11

Consolidated Statements of Comprehensive Income…………………………………………………………………

12

(3) Consolidated Statements of Changes in Shareholders' Equity……………………………………………………………

13

(4) Consolidated Statements of Cash Flows………………………………………………………………………………….. 15

(5) Notes to Consolidated Financial Statements………………………………………………………………………………

16

(Notes Regarding Going-Concern Assumptions)……………………………………………………………………….. 16

(Consolidated Statements of Cash Flows)………………………………………………………………………………. 16

(Segment Information)…………………………………………………………………………………………………...

16

(Per Share Information)………………………………………………………………………………………………….

18

(Important Subsequent Events)………………………………………………………………………………………….

18

1

1. Overview of Business Results

(1) Business Results for the Subject Period

During the subject period (July 1, 2020 to June 30, 2021), the business environment remained severe due to COVID-19 both in Japan and overseas. In Japan, the spread of the third and fourth waves of COVID-19 led to the intermittent declaration of the State of Emergency and the spread of damage in many industries. Overseas, while there were signs of recovery in economic activity in developed countries, where vaccinations started earlier, the overall outlook remained uncertain, with many countries still experiencing a spread of infections, such as expansion of new variant.

In the information service industry, to which our company belongs, it has become difficult to avoid the impact of the infection, although the degree of impact varies depending on the business portfolio including customer composition and other aspects. In addition, as working environment has been changing such as many companies introducing remote work and other factors, more efficient way of working is required.

Even in this environment, IT investment by domestic companies continued to grow, although it varied depending on the industry, due to system renewal, cloud computing, and progress in digital transformation (DX), which had been promoted even before the COVID-19 crisis.

For our group as well, the progress in fields such as Artificial Intelligence (AI), Internet of Things (IoT), and Robotic Process Automation (RPA, the automation and efficiency enhancement of tasks using software robots) have led to increased opportunities to enter new businesses and the expansion of business scope.

Under the COVID-19 crisis, the need for strengthening cyber security measures and improving the work efficiency further increased, and this provided a tailwind for our group, which has effective solutions for these issues.

Under such conditions, the DIT Group formulated the following five business strategies, and continues to take proactive measures to achieve them.

  • Renovation (Strengthen and stabilize business foundation through reform of existing businesses)
  • Innovation (Create new value centered on in-house products)
  • Shift from competition to collaboration (Expand business through cooperative efforts)
  • Shift from development to services (Expand business from service-oriented perspective)
  • Secure and develop human assets (Hire and train personnel)

During FY6/21, the final year of the current medium-term management plan, DIT has promoted our business with focusing on the two axises: "stabilize the business foundation" and "strengthen growth factors." With regard to "stabilize the business foundation," both the Business Solutions Unit and the Embedded Solutions Unit showed strong growth by accurately responding to market changes, which offset the decline in the system sales business due to the loss of special demand. In terms of "strengthen growth factors", DIT achieved steady growth as a result of ongoing efforts to enhance product appeal and strengthen sales for WebARGUS¹, DIT's in-house products built on proprietary technology, and the Excel process innovation platform xoBlos².

With respect to Triple 10(*), which was a medium-term management target by FY6/21, we achieved the target of operating income margin of 10% one year ahead of schedule in FY6/20. We have continued to promote management that emphasizes the operating income margin.

*Triple 10

  • Net sales of 10.0 billion yen in FY6/17 (already achieved)
  • Operating income of 1.0 billion yen in FY6/19 (already achieved)
  • Operating profit margin of 10% in FY6/21 (already achieved in FY6/20)

In addition, in the current fiscal year, operating income margin increased by 1.9 percentage points to 11.9%, due to the combination of higher profit margins resulting from qualitative improvements in business operations and the reduction of cost of goods manufactured (mainly commuting expenses) and SG&A expenses (mainly transportation, entertainment and meeting expenses) due to COVID-19.

As a result, net sales in the subject fiscal year amounted to 14,444,325 thousand yen (up 7.0% year on year), with operating income of 1,722,241 thousand yen (up 27.3%), ordinary income of 1,730,182 thousand yen (up 27.4%), and net income attributable to owners of parent of 1,196,494 thousand yen (up 22.3%).

- 2 -

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Disclaimer

Digital Information Technologies Corporation published this content on 27 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2021 07:01:03 UTC.


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Net income 2022 1 390 M 9,71 M 9,71 M
Net Debt 2022 - - -
P/E ratio 2022 16,3x
Yield 2022 2,70%
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Capi. / Sales 2022 1,41x
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Nbr of Employees 1 036
Free-Float 62,6%
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Last Close Price 1 483,00
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Satoshi Ichikawa Director, Head-Accounting & Administration
Shoji Nakagawa Executive Officer & Deputy GM-Technology Solutions
Akiko Shiboo Executive Officer & Manager-Accounting Group
Masaaki Nishii Independent Outside Director
Katsumi Kumasaka Independent Outside Director
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