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 Twelve Months Ended September 30, 2021
(Based on Japanese GAAP)
November 12, 2021 | |||||||||||||||
Company name: | Euglena Co., Ltd. | ||||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||||
Stock code: | 2931 | URL http://www.euglena.jp/ | |||||||||||||
Representative: | Representative Director, President | Mitsuru Izumo | |||||||||||||
Inquiries: | Executive Officer, CFiO | Tomohiro Wakahara | TEL 03(3453)4907 | ||||||||||||
Scheduled date to file Quarterly Securities Report: | November 12, 2021 | ||||||||||||||
Scheduled date to commence dividend payments: | - | ||||||||||||||
Preparation of supplementary material on quarterly financial results: | Yes | ||||||||||||||
Holding of quarterly financial results meeting: | Yes | ||||||||||||||
(Amounts less than one million yen are rounded down) | |||||||||||||||
1. Consolidated financial results for the twelve months ended September 30, 2021 (from October 1, 2020 to September 30, 2021) | |||||||||||||||
(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 | % | ||||||||
Twelve months ended September 30, | 23,291 | - | (3,962) | - | (3,656) | - | (2,431) | - | |||||||
2021 | |||||||||||||||
Year ended September 30, 2020 | 13,317 | (8.0) | (1,807) | - | (1,457) | - | (1,486) | - | |||||||
Reference: Adjusted EBITDA | Twelve months ended September 30, 2021 | ¥1,025 million [-%] | |||||||||||||
Year ended September 30, 2020 | ¥(732) million [-%] | ||||||||||||||
Note 1: Comprehensive income | Twelve months ended September 30, 2021 | ¥(3,233) million [-%] | |||||||||||||
Year ended September 30, 2020 | ¥(1,483) million [-%] |
Note 2: Because management has shifted its focus to cash flow management, the Company now presents adjusted EBITDA as a key performance indicator to show its capacity for generating free cash flows.
Note 3: On August 26, 2021, the Company amended its Articles of Incorporation to change the fiscal year end from September 30 of each year to December 31 of each year. The fiscal year under review is a transitional period for this change of the fiscal year end, comprising an irregular 15-month period from October 1, 2020 to December 31, 2021. Consequently, year-on-year changes for the first twelve months of the year ending December 31, 2021 are not presented. Note that when comparing net sales of the first twelve months of the year ending December 31, 2021 with the corresponding period of the previous fiscal year, which was the full previous fiscal year (from October 1, 2019 to September 30, 2020), the adjusted percentage change is an increase of 74.9%.
Note 4: The figures shown for the year ended September 30, 2020 are for the full fiscal year.
Earnings per share | Diluted earnings per share | ||||||
Yen | Yen | ||||||
Twelve months ended September 30, | (24.12) | - | |||||
2021 | |||||||
Year ended September 30, 2020 | (16.00) | - | |||||
(2) Consolidated financial position | |||||||
Total assets | Net assets | Equity ratio | |||||
Millions of yen | Millions of yen | % | |||||
As of September 30, 2021 | 64,065 | 22,186 | 34.0 | ||||
As of September 30, 2020 | 15,351 | 9,386 | 61.0 | ||||
Reference: Equity | As of September 30, 2021 | ¥21,800 million | |||||
As of September 30, 2020 | ¥9,363 million |
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2. Cash dividends
Annual dividends per share | ||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | 4th quarter-end | Fiscal year-end | Total | |||||||||||||
Yen | Yen | Yen | Yen | Yen | Yen | |||||||||||||
Year ended September 30, 2020 | - | 0.00 | - | - | 0.00 | 0.00 | ||||||||||||
Year ending December 31, 2021 | - | 0.00 | - | - | ||||||||||||||
Year ending December 31, 2021 | 0.00 | 0.00 | ||||||||||||||||
(Forecast) | ||||||||||||||||||
Note: Revision to cash dividend forecasts most recently announced: No | ||||||||||||||||||
3. Forecast of consolidated financial results for the year ending December 31, 2021 (from October 1, 2020 to December 31, 2021) | ||||||||||||||||||
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 | 33,000 | - | - | - | - | - | - | - | - | |||||||||
Reference: Adjusted EBITDA | Year ending December 31, 2021 | ¥650 million |
Both net sales and adjusted EBITDA are announced in the financial results forecast for the fiscal year ending December 31, 2021. Adjusted EBITDA = EBITDA (Operating profit + Amortization of goodwill and Depreciation) + Subsidy income + Stock-related remuneration + Inventory step-up effect.
In the fiscal year under review, in relation to Q'SAI CO., LTD., which became a consolidated subsidiary of the Company as of the deemed acquisition date of June 30, 2021, unrealized gains of ¥6,707 million were recorded to inventories by inventory step-up (accounting for the revaluation of inventories at the time of said company's consolidation to net realizable value (selling price less estimated additional manufacturing costs and estimated direct selling expenses), and said unrealized gain will be expensed as cost of sales when inventory is paid out due to the sale of products. As the expensing of the unrealized gain recognized by the step-up will not have an effect on the Company's cash flow, this step-up effect is added back in the calculation of adjusted EBITDA, which is a key performance indicator for the Company's cash flow generating capacity.
Note 1: Revision to consolidated financial results forecast most recently announced: Yes
Note 2: As stated above, due to this change of the fiscal year end, the fiscal year ending December 31, 2021 is an irregular 15-month period from October 1, 2020 to December 31, 2021. Consequently, year-on-year changes for the year ending December 31, 2021 are not presented.
4. Notes | ||
(1) | Changes in significant subsidiaries during the twelve months ended September 30, 2021 | Yes |
(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 September 30, 2021 | 109,782,686 | shares | As of September 30, 2020 | 93,153,322 | shares | |
Number of treasury shares at the end of the period | ||||||
As of September 30, 2021 | 20,431 | shares | As of September 30, 2020 | 56,459 | shares |
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Twelve months ended September 30, | 100,793,646 shares | Year ended September 30, 2020 | 92,900,464 shares |
2021 | |||
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Proper use of financial results forecast, and other special matters
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Euglena Co. Ltd. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 02:09:03 UTC.