Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

DIGITAL INFORMATION TECHNOLOGIES CORPORATION

(3916)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Digital Information Technologies : Summary of Business Results for the Third Quarter Ended March 31, 2022 (Consolidated)

07/08/2022 | 02:14am EDT
(% change from the previous corresponding period)
(% change from the previous corresponding period)

Summary of Business Results

for the Third Quarter Ended March 31, 2022

[Japan GAAP] (Consolidated)

Company

Digital Information Technologies Corporation

Stock Code

3916

URL: https://www.ditgroup.jp/

Representative

Satoshi Ichikawa, President and Representative Director

Contact

Ken Mochizuki, Director and Division Manager of Corporate Planning

Division

Expected date of filing of quarterly report: May 13, 2022

Expected starting date of dividend payment: -

Preparation of quarterly supplementary financial document: Yes

Quarterly results briefing: None

May 13, 2022

Listed on the TSE

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

Rounded down to million yen

1. Consolidated business results for the nine months ended March 31, 2022 (July 1, 2021 through March 31, 2022)

(1) Consolidated results of operations

Net sales

Operating income

Ordinary income

Net income attributable to

owners of parent

For the nine months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

March 31, 2022

11,940

10.2

1,608

7.8

1,618

8.1

1,128

9.0

March 31, 2021

10,837

6.1

1,492

25.9

1,496

25.8

1,035

25.6

(Note) Comprehensive income

Nine months ended March 31, 2022: 1,127 million yen (9.5%)

Nine months ended March 31, 2021: 1,029 million yen (24.1 %)

Net income

Diluted net income

per share

per share

For the nine months ended

Yen

Yen

March 31, 2022

74.01

-

March 31, 2021

67.93

-

(Note) Diluted net income per share is not presented because there are no dilutive shares.

(2) Consolidated financial position

Total assets

Net assets

Shareholders' equity

ratio

As of

Million yen

Million yen

%

March 31, 2022

7,138

5,219

73.1

June 30, 2021

6,388

4,526

70.9

(Reference) Shareholders' equity

As of March 31, 2022: 5,219 million yen

As of June 30, 2021: 4,526 million yen

2. Dividends

Annual dividend

End of 1Q

End of 2Q

End of 3Q

Year-end

Total

For the fiscal year

Yen

Yen

Yen

Yen

Yen

ended June 30, 2021

-

10.00

-

14.00

24.00

ending June 30, 2022

-

15.00

-

ending June 30, 2022 (forecast)

17.00

32.00

(Note) Revisions to dividend forecast for the current quarter: Yes

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

Net sales

Operating income

Ordinary income

Net income attributable

Net income

to owners of parent

per share

For the fiscal year

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

ending June 30, 2022

16,000

10.8

2,000

16.1

2,000

15.6

1,387

16.0

91.00

(Note) Revisions to business forecast for the current quarter: Yes

*Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the scope of consolidation): None
  2. Application of accounting procedures specific to preparation of the consolidated quarterly financial statements: None
  1. Changes in accounting policies, accounting estimates and restatement
    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 March 31, 2022

15,501,820 shares

As of June 30, 2021

15,501,820 shares

  • Treasury stock at the end of period

As of March 31, 2022

253,551 shares

As of June 30, 2021

253,489 shares

  • Average number of stock during period (quarterly cumulative period)

Nine months ended March 31, 2022

15,248,303 shares

Nine months ended March 31, 2021

15,248,361 shares

  • Yes
  • 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 Custody Bank of Japan, Ltd. (Trust E-Account) as trust assets under the Employees' Benefit Trust (J-ESOP) Plan.

*Quarterly financial summary is not subject to quarterly 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. Qualitative Information Regarding Consolidated Quarterly Business Results .............................................................................

2

  1. Explanation of Business Results………………………………………………………………………………………………2
  2. Explanation of Financial Position…………………………………………………………………………………………..…5
  3. Explanation of Results Forecasts and Other Future Predictions………………………………………………………………5
  4. Other Matters to be Reported………………………………………………………………………………………………… 5

2. Consolidated Quarterly Financial Statements and Main Notes.....................................................................................................

6

  1. Consolidated Quarterly Balance Sheets……………………………………………………………………………….………6

(2)

Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ..............................................

7

(Consolidated Quarterly Statements of Income)

(Third Quarter Cumulative)……………………………………………………………………………………….……7

(Consolidated Quarterly Statements of Comprehensive Income)

(Third Quarter Cumulative)…………………………………………………………………………………….………8

(3)

Notes to Quarterly Consolidated Financial Statements ...........................................................................................................

9

(Notes Regarding Going Concern Assumptions)..................................................................................................................

9

(Notes Regarding Substantial Changes in Shareholders' Equity) .........................................................................................

9

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

9

1

Medium-termmanagement targets by FY6/30
Organic growth+ New businesses, M&A, etc.
30 billion yen or more500 billion yen
4 billion yen or more5 billion yen

1. Qualitative Information Regarding Consolidated Quarterly Business Results

(1) Explanation of Business Results

During the subject third quarter cumulative period (July 1, 2021 to March 31, 2022), the business environment was further uncertain both domestically and overseas. Although the stricter COVID-19 measures were lifted nationwide, the impact of the infection remained. As for the overseas situation, Russia's invasion of Ukraine caused a sharp rise in resource prices, resulting in a stagnation of the global economy.

In the information service industry, to which our company belongs, it remained 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. Even under these circumstances, according to the Bank of Japan's Tankan survey announced on April 1, 2022, the software investment plan for 2022 (total for all industries and enterprises of all sizes) continued to show an upward trend with a 7.4% year-on-year increase.

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 measures for cyber security and improving the efficiency of working styles 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 (Expand 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)

In addition, on August 20, 2021, we announced the new medium-term management plan and the DIT Group's vision for 2030. In the 2030 Vision, we have set the DIT's future vision (DIT Services: providing a higher level of value, DIT Spirits: a group of professionals) to build a "Trusted and Chosen DIT Brand, and also set the following management targets as the "Challenge 500(*)".

Management Targets

Net sales

Operating Income

(*) Challenge 500

Targeting 50 billion yen sales toward FY6/30!

2

As a step toward achieving this 2030 Vision, we set the period from FY6/22 to FY6/24 as the period for "promoting business structural improvement" to build up business capabilities by promoting the creation of a company and structure that will enable the next growth. We also set the period from FY6/25 to FY6/27 as the period for "achieving a growth trajectory" to establish a business style and put the overall business on a growth track, and the period from FY6/28 to FY6/30 as the period for "establishing the DIT brand", that is trusted and chosen by all stakeholders.

During FY6/22, the first year of the current medium-term management plan, DIT has promoted our business with focusing on the two axes: "expand and stabilize the business foundation" and "expand growth factors."

With regard to "expand and stabilize the business foundation," the overall business showed strong growth as we allocated resources appropriately to high- demand markets in both the Business Solutions business and the Embedded Solutions business, which offset the slump in the System Sales business. In terms of "expand growth factors", DIT achieved steady growth as a result of ongoing efforts to enhance product appeal and strengthen sales of WebARGUS¹, an original product built on proprietary technology, and xoBlos², an innovation platform for Microsoft Excel users.

Medium-toLong-term Growth Model

As mentioned above, the business itself performed steadily, as in the previous fiscal year. However, due to an increase in personnel expenses and recruitment expenses as a result of business expansion, and the refund of taxes and public charges in the first quarter of the previous fiscal year, SG&A expenses increased by 164,501 thousand yen compared to the previous fiscal year, resulting in a slow growth in profits.

In the third quarter of the current fiscal year, the Company posted record-high net sales and operating income, with net sales of 4,255 million yen (up 12.8% year-on-year) and operating income of 635 million yen (up 9.5%).

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Digital Information Technologies Corporation published this content on 08 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2022 06:13:07 UTC.


© Publicnow 2022
All news about DIGITAL INFORMATION TECHNOLOGIES CORPORATION
08/29Digital Information Technologies Corporation Provides Dividend Guidance for the Year En..
CI
08/29Digital Information Technologies Corporation Announces Dividend for the Second Quarter ..
CI
08/29Digital Information Technologies Corporation Provides Consolidated Earnings Guidance fo..
CI
07/11Digital Information Technologies Posts 9% Higher Fiscal Nine-month Profit
MT
07/08Digital Information Technologies : Summary of Business Results for the Third Quarter Ended..
PU
07/08Digital Information Technologies Corporation Provides Year-End Dividend Guidance for th..
CI
07/08Digital Information Technologies Corporation Provides Consolidated Earnings Guidance fo..
CI
06/30Digital Information Technologies Corporation completed the acquisition of simplism inc...
CI
06/23Digital Information Technologies : Financial Results for the Third Quarter of the Fiscal Y..
PU
06/20Digital Information Technologies Corporation agreed to acquire simplism inc. from Yoshi..
CI
More news
Financials
Sales 2022 16 000 M 111 M 111 M
Net income 2022 1 390 M 9,60 M 9,60 M
Net Debt 2022 - - -
P/E ratio 2022 17,1x
Yield 2022 2,57%
Capitalization 23 726 M 164 M 164 M
Capi. / Sales 2022 1,48x
Capi. / Sales 2023 1,30x
Nbr of Employees 1 036
Free-Float 62,6%
Chart DIGITAL INFORMATION TECHNOLOGIES CORPORATION
Duration : Period :
Digital Information Technologies Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DIGITAL INFORMATION TECHNOLOGIES CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 1 556,00
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
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
Sector and Competitors
1st jan.Capi. (M$)
DIGITAL INFORMATION TECHNOLOGIES CORPORATION16.21%164
ACCENTURE PLC-33.82%173 514
TATA CONSULTANCY SERVICES LTD.-17.31%138 994
AUTOMATIC DATA PROCESSING, INC.-3.05%98 266
INFOSYS LIMITED-24.28%73 681
SNOWFLAKE INC.-45.28%58 800