Cash flow Hakuyosha Company, Ltd.

Equities

9731

JP3766600005

Personal Services

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-09-18 am EDT			5-day change	1st Jan Change
2,357.00 ^JPY	-0.76%		+6.12%	+0.51%

2023	Hakuyosha Company, Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023	CI
2018	Hokkaido Linen Supply K.K. cancelled the acquisition of Hokuyo Linen Supply Co., Ltd. from Hakuyosha Company, Ltd..	CI

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Published financial data: HAKUYOSHA COMPANY, LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	50.27B	39.15B	35.13B	39.18B	43.27B
Total Revenues	50.27B	39.15B	35.13B	39.18B	43.27B
Cost of Goods Sold, Total	43.84B	38.26B	32.96B	34.11B	36.64B
Gross Profit	6.43B	890M	2.17B	5.07B	6.63B
Selling General & Admin Expenses, Total	5.95B	5.35B	4.77B	4.13B	4.57B
Depreciation & Amortization - (IS)	243M	264M	292M	238M	217M
Other Operating Expenses	27M	19M	21M	35M	33M
Other Operating Expenses, Total	6.22B	5.63B	5.08B	4.4B	4.82B
Operating Income	210M	-4.74B	-2.91B	666M	1.82B
Interest Expense, Total	-208M	-221M	-211M	-187M	-183M
Interest And Investment Income	49M	47M	40M	53M	42M
Net Interest Expenses	-159M	-174M	-171M	-134M	-141M
Income (Loss) On Equity Invest.	12M	-22M	-14M	12M	100M
Currency Exchange Gains (Loss)	-27M	-16M	41M	159M	19M
Other Non Operating Income (Expenses)	253M	516M	873M	654M	355M
EBT, Excl. Unusual Items	289M	-4.44B	-2.18B	1.36B	2.15B
Gain (Loss) On Sale Of Investments	-	237M	159M	-8M	3M
Gain (Loss) On Sale Of Assets	-53M	1.01B	1.58B	1.04B	-46M
Asset Writedown	-16M	-54M	-181M	-80M	-88M
Other Unusual Items	-	-2M	-308M	-1M	-1M
EBT, Incl. Unusual Items	220M	-3.24B	-927M	2.31B	2.02B
Income Tax Expense	283M	115M	434M	698M	66M
Earnings From Continuing Operations	-63M	-3.36B	-1.36B	1.61B	1.95B
Net Income to Company	-63M	-3.36B	-1.36B	1.61B	1.95B
Minority Interest	57M	199M	112M	76M	-6M
Net Income - (IS)	-6M	-3.16B	-1.25B	1.69B	1.94B
Net Income to Common Incl Extra Items	-6M	-3.16B	-1.25B	1.69B	1.94B
Net Income to Common Excl. Extra Items	-6M	-3.16B	-1.25B	1.69B	1.94B
Per Share Items
Net EPS - Basic	-1.58	-833.31	-329.36	446.9	514.75
Basic EPS - Continuing Operations	-1.58	-833.31	-329.36	446.9	514.75
Basic Weighted Average Shares Outstanding	3.81M	3.79M	3.79M	3.78M	3.78M
Net EPS - Diluted	-1.58	-833.31	-329.36	446.9	514.75
Diluted EPS - Continuing Operations	-1.58	-833.31	-329.36	446.9	514.75
Diluted Weighted Average Shares Outstanding	3.81M	3.79M	3.79M	3.78M	3.78M
Normalized Basic EPS	62.43	-679.19	-329.43	244.66	353.88
Normalized Diluted EPS	62.43	-679.19	-329.43	244.66	353.88
Dividend Per Share	50	-	-	10	40
Payout Ratio	-3.23K	-3.07	-	-	4.99
Supplemental Items
EBITDA	1.84B	-3.01B	-1.35B	2.06B	3.1B
EBITA	210M	-4.74B	-2.91B	666M	1.82B
EBIT	210M	-4.74B	-2.91B	666M	1.82B
Effective Tax Rate - (Ratio)	128.64	-3.55	-46.82	30.22	3.27
Normalized Net Income	238M	-2.57B	-1.25B	924M	1.34B
Non-Cash Pension Expense	216M	121M	-102M	148M	85M
Supplemental Operating Expense Items
Selling and Marketing Expenses	860M	722M	447M	128M	140M
General and Administrative Expenses	361M	341M	318M	270M	255M
Research And Development Expense From Footnotes	57M	53M	50M	51M	53M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	668M	1.07B	1.04B	1.11B	1.43B
Total Cash And Short Term Investments	668M	1.07B	1.04B	1.11B	1.43B
Accounts Receivable, Total	4.89B	3.81B	3.52B	4.14B	4.21B
Total Receivables	4.89B	3.81B	3.52B	4.14B	4.21B
Inventory	6.74B	5.55B	4.09B	4.14B	5.19B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	837M	725M	652M	622M	811M
Total Current Assets	13.14B	11.16B	9.31B	10.01B	11.65B
Net Property Plant And Equipment	17.23B	16.51B	15.33B	14.64B	14.37B
Long-term Investments	5.57B	4.68B	4.05B	4.2B	4.6B
Other Intangibles, Total	576M	620M	587M	501M	408M
Deferred Tax Assets Long-Term	1.66B	1.89B	2.14B	2.01B	2.13B
Other Long-Term Assets, Total	2M	3M	2M	2M	1M
Total Assets	38.18B	34.86B	31.41B	31.37B	33.15B
Liabilities
Accounts Payable, Total	3.26B	2.68B	2.36B	2.48B	2.99B
Accrued Expenses, Total	216M	171M	92M	166M	186M
Short-term Borrowings	2.11B	3.5B	2.89B	2.58B	3.35B
Current Portion of Long-Term Debt	2.94B	5.01B	2.98B	3.32B	3.02B
Current Portion of Leases	794M	695M	455M	393M	448M
Current Income Taxes Payable	99M	50M	488M	498M	20M
Other Current Liabilities	2.54B	2.16B	1.93B	2.19B	2.18B
Total Current Liabilities	11.96B	14.27B	11.2B	11.64B	12.18B
Long-Term Debt	8.1B	6.37B	7.88B	6.1B	5.6B
Long-Term Leases	1.74B	1.58B	1.27B	1.08B	1.24B
Pension & Other Post Retirement Benefits	4.42B	4.38B	4.24B	4.13B	3.96B
Deferred Tax Liability Non Current	59M	78M	124M	69M	127M
Other Non Current Liabilities	2.01B	2.11B	2.32B	2.22B	1.66B
Total Liabilities	28.28B	28.8B	27.04B	25.22B	24.78B
Common Stock, Total	2.41B	2.41B	2.41B	2.41B	2.41B
Additional Paid In Capital	1.5B	1.52B	1.57B	1.57B	1.57B
Retained Earnings	4.61B	1.35B	107M	1.57B	3.42B
Treasury Stock	-344M	-345M	-364M	-364M	-358M
Comprehensive Income and Other	1.15B	808M	497M	885M	1.28B
Total Common Equity	9.33B	5.74B	4.22B	6.07B	8.32B
Minority Interest	569M	313M	151M	73M	54M
Total Equity	9.9B	6.06B	4.38B	6.14B	8.37B
Total Liabilities And Equity	38.18B	34.86B	31.41B	31.37B	33.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.79M	3.79M	3.78M	3.78M	3.78M
ECS Total Common Shares Outstanding	3.79M	3.79M	3.78M	3.78M	3.78M
Book Value / Share	2.46K	1.52K	1.12K	1.61K	2.2K
Tangible Book Value	8.75B	5.12B	3.64B	5.57B	7.91B
Tangible Book Value Per Share	2.31K	1.35K	962.83	1.47K	2.09K
Total Debt	15.68B	17.17B	15.48B	13.48B	13.66B
Net Debt	15.01B	16.1B	14.44B	12.37B	12.23B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.46B	3.56B	3.45B	3.33B	2.97B
Minority Interest, Total (Incl. Fin. Div)	569M	313M	151M	73M	54M
Inventories - Raw Materials, Total	6.45B	5.21B	3.79B	3.94B	4.92B
Inventories - Finished Goods, Total	292M	344M	300M	206M	271M
Inventories - Others	1M	1M	-	2M	-
Full Time Employees	2.23K	2.21K	1.96K	1.79K	1.72K
Accumulated Allowance for Doubtful Accounts (Supple)	41M	34M	23M	41M	46M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	219M	-3.24B	-927M	2.31B	2.02B
Depreciation & Amortization - CF	1.63B	1.74B	1.56B	1.4B	1.28B
Depreciation & Amortization, Total	1.63B	1.74B	1.56B	1.4B	1.28B
(Gain) Loss From Sale Of Asset	63M	-963M	-1.4B	-966M	132M
(Gain) Loss on Sale of Investments - (CF)	-	-236M	-159M	8M	-2M
(Income) Loss On Equity Investments - (CF)	-12M	22M	14M	-12M	-100M
Other Operating Activities, Total	-639M	-218M	-43M	-641M	-775M
Change In Accounts Receivable	-411M	1.07B	51M	-806M	-63M
Change In Inventories	252M	1.37B	1.3B	91M	-591M
Change In Accounts Payable	70M	-648M	-162M	242M	394M
Change in Other Net Operating Assets	709M	-196M	-256M	-309M	-730M
Cash from Operations	1.88B	-1.31B	-29M	1.31B	1.57B
Capital Expenditure	-1.53B	-484M	-224M	-313M	-586M
Sale of Property, Plant, and Equipment	221M	1.11B	1.7B	1.12B	9M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	63M	-	-
Sale (Purchase) of Intangible assets	-118M	-138M	-264M	-130M	-43M
Investment in Marketable and Equity Securities, Total	-5M	364M	392M	40M	6M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	31M	84M	94M	101M	17M
Cash from Investing	-1.4B	932M	1.76B	815M	-597M
Short Term Debt Issued, Total	6.8B	9.54B	15.31B	17.31B	19.88B
Long-Term Debt Issued, Total	3.26B	3.32B	4.62B	1.7B	2B
Total Debt Issued	10.07B	12.86B	19.93B	19.01B	21.88B
Short Term Debt Repaid, Total	-6.61B	-8.15B	-15.92B	-17.62B	-19.12B
Long-Term Debt Repaid, Total	-3.29B	-2.96B	-5B	-3.02B	-2.81B
Total Debt Repaid	-9.9B	-11.12B	-20.92B	-20.64B	-21.93B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-58M	-	-38M	-	-
Common & Preferred Stock Dividends Paid	-194M	-97M	-	-	-97M
Common & Preferred Stock Dividends Paid	-194M	-97M	-	-	-97M
Other Financing Activities, Total	-805M	-869M	-737M	-488M	-516M
Cash from Financing	-886M	780M	-1.77B	-2.12B	-657M
Foreign Exchange Rate Adjustments	-7M	-4M	18M	52M	12M
Miscellaneous Cash Flow Adjustments	-	-	-	1M	-1M
Net Change in Cash	-417M	401M	-21M	62M	323M
Supplemental Items
Cash Interest Paid	211M	221M	215M	186M	182M
Cash Income Tax Paid (Refund)	651M	229M	44M	650M	780M
Levered Free Cash Flow	74.25M	-661M	756M	1.07B	402M
Unlevered Free Cash Flow	204M	-523M	888M	1.19B	516M
Change In Net Working Capital	-95M	-1.33B	-1.64B	178M	1.27B
Net Debt Issued / Repaid	171M	1.75B	-996M	-1.63B	-44M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.34	-8.12	-5.48	1.33	3.52
Return on Total Capital	0.51	-12.15	-8.43	2.11	5.45
Return On Equity %	-0.63	-42.1	-26.1	30.65	26.88
Return on Common Equity	-0.06	-41.92	-25.06	32.79	27.04
Margin Analysis
Gross Profit Margin %	12.79	2.27	6.19	12.94	15.33
SG&A Margin	11.84	13.66	13.57	10.54	10.56
EBITDA Margin %	3.66	-7.68	-3.84	5.26	7.16
EBITA Margin %	0.42	-12.11	-8.27	1.7	4.2
EBIT Margin %	0.42	-12.11	-8.27	1.7	4.2
Income From Continuing Operations Margin %	-0.13	-8.58	-3.87	4.11	4.51
Net Income Margin %	-0.01	-8.07	-3.56	4.31	4.49
Net Avail. For Common Margin %	-0.01	-8.07	-3.56	4.31	4.49
Normalized Net Income Margin	0.47	-6.58	-3.56	2.36	3.09
Levered Free Cash Flow Margin	0.15	-1.69	2.15	2.74	0.93
Unlevered Free Cash Flow Margin	0.41	-1.34	2.53	3.04	1.19
Asset Turnover
Asset Turnover	1.32	1.07	1.06	1.25	1.34
Fixed Assets Turnover	2.94	2.32	2.21	2.61	2.98
Receivables Turnover (Average Receivables)	10.71	9	9.59	10.23	10.36
Inventory Turnover (Average Inventory)	6.46	6.22	6.83	8.28	7.85
Short Term Liquidity
Current Ratio	1.1	0.78	0.83	0.86	0.96
Quick Ratio	0.46	0.34	0.41	0.45	0.46
Operating Cash Flow to Current Liabilities	0.16	-0.09	-0	0.11	0.13
Days Sales Outstanding (Average Receivables)	34.09	40.68	38.06	35.67	35.23
Days Outstanding Inventory (Average Inventory)	56.49	58.8	53.41	44.07	46.51
Average Days Payable Outstanding	26.84	29.34	29.19	25.83	26.49
Cash Conversion Cycle (Average Days)	63.74	70.14	62.28	53.91	55.25
Long Term Solvency
Total Debt/Equity	158.42	283.47	353.9	219.38	163.15
Total Debt / Total Capital	61.3	73.92	77.97	68.69	62
LT Debt/Equity	99.38	131.34	209.12	116.85	81.77
Long-Term Debt / Total Capital	38.46	34.25	46.07	36.58	31.07
Total Liabilities / Total Assets	74.08	82.63	86.07	80.41	74.75
EBIT / Interest Expense	1.01	-21.46	-13.78	3.56	9.92
EBITDA / Interest Expense	8.84	-13.6	-6.4	11.03	16.94
(EBITDA - Capex) / Interest Expense	1.47	-15.79	-7.46	9.35	13.74
Total Debt / EBITDA	8.53	-5.71	-11.47	6.54	4.41
Net Debt / EBITDA	8.16	-5.36	-10.7	6	3.94
Total Debt / (EBITDA - Capex)	51.24	-4.92	-9.84	7.71	5.43
Net Debt / (EBITDA - Capex)	49.06	-4.61	-9.17	7.07	4.86
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.07	-22.13	-10.26	11.53	10.44
Gross Profit, 1 Yr. Growth %