Ebara Jitsugyo : Summary of Consolidated Financial Results for the Year Ended December 31, 2022(164KB)

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 Year Ended December 31, 2022

(Based on Japanese GAAP)

																				February 10, 2023
Company name:	EBARA JITSUGYO CO.,LTD.
Stock exchange listing:	Tokyo
Stock code:	6328	URL https://www.ejk.co.jp/
Representative:	President and COO			Toshinori Yoshida
Inquiries:	Managing Executive Officer, Head of	Shuji Ohno		TEL [phone]
Planning & Strategy Office
Scheduled date of ordinary general meeting of shareholders:	March 23, 2023
Scheduled date to file Securities Report:			March 23, 2023
Scheduled date to commence dividend payments:			March 24, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:							Yes
												(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended December 31, 2022 (from January 1, 2022 to December 31, 2022)
(1) Consolidated operating results													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		%
Year ended December 31, 2022		30,229		(6.9)	2,756		(30.8)		2,929	(28.7)	2,169		(31.3)
Year ended December 31, 2021		32,485		7.4	3,982		23.9		4,110	22.2		3,159		34.9
			Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
					share			owners of				assets			sales
									parent/equity
				Yen			Yen			%						%				%
Year ended December 31, 2022		177.15			-			11.6						8.5				9.1
Year ended December 31, 2021		253.05			-			17.6						12.0				12.3
(2) Consolidated financial position
			Total assets			Net assets		Equity ratio	Net assets per share
			Millions of yen	Millions of yen					%						Yen
As of December 31, 2022		33,528					18,396					54.9				1,515.25
As of December 31, 2021		35,725					19,152					53.6				1,566.10
(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 period
			Millions of yen	Millions of yen	Millions of yen		Millions of yen
Year ended December 31, 2022					1,615					9					(1,614)					10,965
Year ended December 31, 2021					3,147					108					(1,681)					10,955
2. Cash dividends
							Annual dividends per share					Total cash		Dividend payout	Ratio of dividends
																	to net assets
			1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
			Yen			Yen	Yen		Yen	Yen	Millions of yen		%			%
Year ended December 31, 2021		-		75.00	-		47.50			-		1,062		33.6			5.9
Year ended December 31, 2022		-		42.50	-		42.50	85.00		1,043		48.0			5.5
Year ending December 31, 2023		-			42.50	-				42.50	85.00				40.0
(Forecast)

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3. Forecast of consolidated financial results for the year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)

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	35,000	15.8	3,500	27.0	3,650	24.6		2,600	19.9	212.33
4. Notes
(1) Changes in significant subsidiaries during the year ended December 31, 2022			No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) 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:	Yes
Changes in accounting policies due to other reasons:					No
Changes in accounting estimates:							No
Restatement of prior period financial statements:					No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of December 31, 2022	12,930,000	shares	As of December 31, 2021	13,430,000	shares
Number of treasury shares at the end of the period
	As of December 31, 2022	788,816	shares	As of December 31, 2021	1,200,454	shares
Average number of shares during the period
	Year ended December 31, 2022	12,245,033	shares	Year ended December 31, 2021	12,486,436	shares

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Consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of December 31, 2021	As of December 31, 2022
Assets
Current assets
Cash and deposits	11,100	11,296
Notes and accounts receivable - trade	10,447	-
Notes and accounts receivable - trade, and contract assets	-	10,631
Merchandise and finished goods	863	1,159
Work in process	281	331
Costs on construction contracts in progress	489	173
Raw materials and supplies	389	481
Other	352	359
Allowance for doubtful accounts	(1)	(1)
Total current assets	23,921	24,432
Non-current assets
Property, plant and equipment
Buildings and structures	3,634	3,704
Accumulated depreciation	(1,938)	(2,020)
Buildings and structures, net	1,696	1,684
Machinery, equipment and vehicles	196	206
Accumulated depreciation	(147)	(160)
Machinery, equipment and vehicles, net	49	46
Tools, furniture and fixtures	670	691
Accumulated depreciation	(581)	(599)
Tools, furniture and fixtures, net	89	91
Land	1,356	1,356
Construction in progress	-	2
Other	-	7
Accumulated depreciation	-	(1)
Other, net	-	6
Total property, plant and equipment	3,191	3,187
Intangible assets	120	86
Investments and other assets
Investment securities	7,166	4,494
Insurance funds	408	410
Investment property, net	683	636
Deferred tax assets	66	117
Other	272	268
Allowance for doubtful accounts	(105)	(105)
Total investments and other assets	8,491	5,822
Total non-current assets	11,804	9,096
Total assets	35,725	33,528

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		(Millions of yen)
	As of December 31, 2021	As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	9,829	9,809
Short-term borrowings	1,090	1,010
Current portion of long-term borrowings	80	80
Income taxes payable	818	329
Accrued consumption taxes	334	21
Advances received	1,369	-
Contract liabilities	-	1,661
Provision for loss on construction contracts	78	22
Other	746	714
Total current liabilities	14,346	13,647
Non-current liabilities
Long-term borrowings	176	91
Deferred tax liabilities	1,598	868
Provision for retirement benefits for directors (and other	158	158
officers)
Retirement benefit liability	182	241
Other	110	122
Total non-current liabilities	2,227	1,483
Total liabilities	16,573	15,131
Net assets
Shareholders' equity
Share capital	1,001	1,001
Capital surplus	1,032	831
Retained earnings	15,133	15,700
Treasury shares	(1,974)	(1,378)
Total shareholders' equity	15,192	16,154
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	3,944	2,228
Remeasurements of defined benefit plans	15	14
Total accumulated other comprehensive income	3,959	2,242
Total net assets	19,152	18,396
Total liabilities and net assets	35,725	33,528

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

		(Millions of yen)
	Fiscal year ended	Fiscal year ended
	December 31, 2021	December 31, 2022
Net sales
Net sales of finished goods and construction sales	27,351	24,455
Net sales of goods	5,134	5,773
Total net sales	32,485	30,229
Cost of sales
Cost of finished goods sold and construction sales	18,094	16,657
Cost of goods sold	3,901	4,289
Total cost of sales	21,995	20,947
Gross profit
Gross profit-finished goods and construction sales	9,256	7,798
Gross profit - merchandise	1,232	1,483
Total gross profit	10,489	9,282
Selling, general and administrative expenses	6,507	6,525
Operating profit	3,982	2,756
Non-operating income
Interest income	2	0
Dividend income	103	114
Rental income from investment property	101	100
Other	23	25
Total non-operating income	230	241
Non-operating expenses
Interest expenses	6	5
Rental expenses on real estate	43	40
Foreign exchange losses	6	14
Loss on cancellation of insurance policies	21	1
Commission expenses	19	4
Other	5	3
Total non-operating expenses	102	68
Ordinary profit	4,110	2,929
Extraordinary income
Gain on sale of investment securities	338	140
Other	0	-
Total extraordinary income	338	140
Extraordinary losses
Impairment losses	30	-
Loss on sale of investment securities	26	-
Loss on disposal of non-current assets	0	11
Loss on investments in silent partnerships	-	9
Other	0	0
Total extraordinary losses	57	21
Profit before income taxes	4,392	3,048
Income taxes - current	1,294	945
Income taxes - deferred	(62)	(66)
Total income taxes	1,232	879
Profit	3,159	2,169
Profit attributable to owners of parent	3,159	2,169

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