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 Six Months Ended June 30, 2022 (Based on Japanese GAAP)
August 10, 2022 | |||||||||||||||
Company name: | FUKUDA CORPORATION | ||||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||||
Stock code: | 1899 | URL | https://www.fkd.co.jp/ | ||||||||||||
Representative: | Representative Director and President | Masanori Araaki | |||||||||||||
Inquiries: | Director and General Manager of | Katsuhiko Iwasaki | TEL 025-266-9111 | ||||||||||||
Administration Department | |||||||||||||||
Scheduled date to file Quarterly Securities Report: | August 10, 2022 | ||||||||||||||
Scheduled date to commence dividend payments: | - | ||||||||||||||
Preparation of supplementary material on quarterly financial results: | Yes | ||||||||||||||
Holding of quarterly financial results meeting: | No | ||||||||||||||
(Amounts less than one million yen are rounded down) | |||||||||||||||
1. Consolidated financial results for the six months ended June 30, 2022 (from January 1, 2022 to June 30, 2022) | |||||||||||||||
(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 | % | ||||||||
Six months ended June 30, 2022 | 69,517 | (19.4) | 2,584 | (53.4) | 2,725 | (52.0) | 1,901 | (49.4) | |||||||
Six months ended June 30, 2021 | 86,293 | 2.5 | 5,545 | 32.7 | 5,677 | 33.2 | 3,758 | 34.6 | |||||||
Earnings per share | Diluted earnings per share | ||||||||||||||
Yen | Yen | ||||||||||||||
Six months ended June 30, 2022 | 223.11 | - | |||||||||||||
Six months ended June 30, 2021 | 441.13 | - | |||||||||||||
(2) Consolidated financial position | |||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||
Millions of yen | Millions of yen | % | |||||||||||||
As of June 30, 2022 | 129,383 | 77,105 | 59.1 | ||||||||||||
As of December 31, 2021 | 130,755 | 76,412 | 57.9 |
2. Cash dividends
Annual dividends per share | |||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |
Yen | Yen | Yen | Yen | Yen | |
Year ended December 31, 2021 | - | 0.00 | - | 130.00 | 130.00 |
Year ending December 31, 2022 | - | 0.00 | |||
Year ending December 31, 2022 (Forecast) | - | 120.00 | 120.00 |
3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)
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 | 155,000 | (13.8) | 6,200 | (30.3) | 6,400 | (30.0) | 4,100 | (30.1) | 480.91 |
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4. Notes
- Changes in significant subsidiaries during the six months ended June 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
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: | Yes |
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 June 30, 2022 | 8,988,111 | shares | As of December 31, 2021 | 8,988,111 | shares | |
Number of treasury shares at the end of the period | ||||||
As of June 30, 2022 | 462,654 | shares | As of December 31, 2021 | 464,902 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Six months ended June 30, 2022 | 8,524,288 | shares | Six months ended June 30, 2021 | 8,520,360 | shares |
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of December 31, 2021 | As of June 30, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 23,288 | 47,197 | |
Notes receivable, accounts receivable from completed | 63,660 | 39,647 | |
construction contracts and other | |||
Real estate for sale | 816 | 665 | |
Costs on construction contracts in progress | 2,068 | 631 | |
Costs on real estate business | 2,335 | 2,412 | |
Other inventories | 358 | 366 | |
Accounts receivable - other | 1,885 | 2,203 | |
Other | 1,059 | 714 | |
Allowance for doubtful accounts | (12) | (9) | |
Total current assets | 95,462 | 93,829 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 22,745 | 23,002 | |
Machinery, vehicles, tools, furniture and fixtures | 13,732 | 13,741 | |
Land | 15,539 | 15,775 | |
Other | 1,057 | 944 | |
Accumulated depreciation | (26,656) | (26,999) | |
Total property, plant and equipment | 26,419 | 26,464 | |
Intangible assets | |||
Other | 523 | 495 | |
Total intangible assets | 523 | 495 | |
Investments and other assets | |||
Investment securities | 5,352 | 5,173 | |
Long-term loans receivable | 52 | 198 | |
Retirement benefit asset | 1,898 | 1,988 | |
Deferred tax assets | 407 | 602 | |
Other | 916 | 906 | |
Allowance for doubtful accounts | (276) | (276) | |
Total investments and other assets | 8,349 | 8,594 | |
Total non-current assets | 35,292 | 35,553 | |
Total assets | 130,755 | 129,383 | |
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(Millions of yen) | |||
As of December 31, 2021 | As of June 30, 2022 | ||
Liabilities | |||
Current liabilities | |||
Notes payable, accounts payable for construction contracts | 34,862 | 31,784 | |
and other | |||
Short-term borrowings | 320 | 380 | |
Income taxes payable | 1,508 | 887 | |
Advances received on uncompleted construction contracts | 3,339 | 5,071 | |
And Others | |||
Provisions | 439 | 1,036 | |
Other | 6,553 | 5,578 | |
Total current liabilities | 47,024 | 44,739 | |
Non-current liabilities | |||
Long-term borrowings | 767 | 934 | |
Deferred tax liabilities | 79 | 79 | |
Deferred tax liabilities for land revaluation | 838 | 838 | |
Provisions | 542 | 546 | |
Retirement benefit liability | 2,632 | 2,625 | |
Other | 2,457 | 2,512 | |
Total non-current liabilities | 7,318 | 7,538 | |
Total liabilities | 54,342 | 52,277 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 5,158 | 5,158 | |
Capital surplus | 6,169 | 6,169 | |
Retained earnings | 66,075 | 66,490 | |
Treasury shares | (2,271) | (2,258) | |
Total shareholders' equity | 75,131 | 75,559 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 677 | 694 | |
Revaluation reserve for land | (112) | 122 | |
Remeasurements of defined benefit plans | 72 | 43 | |
Total accumulated other comprehensive income | 636 | 860 | |
Non-controlling interests | 643 | 685 | |
Total net assets | 76,412 | 77,105 | |
Total liabilities and net assets | 130,755 | 129,383 | |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Six months ended | Six months ended | ||
June 30, 2021 | June 30, 2022 | ||
Net sales | |||
Net sales of completed construction contracts | 77,945 | 61,243 | |
Sales in real estate business | 1,961 | 1,461 | |
Sales in other businesses | 6,386 | 6,812 | |
Total net sales | 86,293 | 69,517 | |
Cost of sales | |||
Cost of sales of completed construction contracts | 69,367 | 55,512 | |
Cost of sales in real estate business | 1,374 | 950 | |
Cost of sales in other businesses | 5,431 | 5,795 | |
Total cost of sales | 76,173 | 62,257 | |
Gross profit | |||
Gross profit on completed construction contracts | 8,578 | 5,730 | |
Gross profit - real estate business | 586 | 511 | |
Gross profit - other business | 954 | 1,017 | |
Total gross profit | 10,119 | 7,259 | |
Selling, general and administrative expenses | 4,574 | 4,675 | |
Operating profit | 5,545 | 2,584 | |
Non-operating income | |||
Interest income | 6 | 7 | |
Dividend income | 115 | 117 | |
Share of profit of entities accounted for using equity method | 2 | - | |
Other | 112 | 67 | |
Total non-operating income | 236 | 193 | |
Non-operating expenses | |||
Interest expenses | 28 | 20 | |
Commission for syndicated loans | 24 | 15 | |
Prepayment guarantee fee | 17 | 10 | |
Provision for loss on litigation | 25 | - | |
Share of loss of entities accounted for using equity method | - | 3 | |
Other | 8 | 2 | |
Total non-operating expenses | 104 | 52 | |
Ordinary profit | 5,677 | 2,725 | |
Extraordinary income | |||
Gain on sale of non-current assets | 11 | 3 | |
Gain on sale of investment securities | 34 | - | |
Reversal of provision for loss on liquidation of subsidiaries | - | 36 | |
and associates | |||
Other | 0 | - | |
Total extraordinary income | 46 | 40 | |
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FUKUDA Corporation published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 01:23:05 UTC.