HITACHI TRAN : Summary of financial results for 1Q of FY2023

Summary of Consolidated Financial Results [IFRS]

for the First Quarter Ended June 30, 2023

1. Summary of Condensed Quarterly Consolidated Financial Statement

1. Condensed Quarterly Consolidated Statement of Financial Position

		(Million yen)
	As of March 31, 2023	As of June 30, 2023
(Assets)
Current assets
Cash and cash equivalents	83,792	52,584
Trade receivables and contract assets	132,036	129,034
Inventories	1,329	1,459
Other financial assets	14,588	13,002
Other current assets	11,937	14,195
Total current assets	243,682	210,274
Non-current assets
Investments accounted for using the equity	7,319	6,869
method
Property, plant and equipment	183,476	195,617
Right-of-use assets	287,658	316,683
Goodwill	30,120	29,703
Intangible assets	20,795	23,162
Long-term loans receivable	97,276	97,268
Deferred tax assets	16,126	16,455
Other financial assets	17,880	19,026
Other non-current assets	7,777	7,281
Total non-current assets	668,427	712,064
Total assets	912,109	922,338

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		(Million yen)
	As of March 31, 2023	As of June 30, 2023
(Liabilities)
Current liabilities
Trade payables	52,188	49,191
Short-term debt	36	38
Current portion of long-term debt	830	881
Lease liabilities	35,095	36,968
Income tax payable	6,990	3,631
Deposits received	46,771	5,067
Other financial liabilities	40,089	39,226
Other current liabilities	40,122	34,700
Total current liabilities	222,121	169,702
Non-current liabilities
Long-term debt	248,100	268,112
Lease liabilities	256,125	283,413
Retirement and severance benefits	35,964	36,366
Deferred tax liabilities	9,643	11,161
Other financial liabilities	11,590	10,206
Other non-current liabilities	8,522	9,315
Total non-current liabilities	569,944	618,573
Total liabilities	792,065	788,275
(Equity)
Equity attributable to stockholders of the parent
company
Common stock	310	310
Capital surplus	147,257	145,883
Retained earnings	168,856	174,141
Accumulated other comprehensive income	16,271	25,925
Treasury stock, at cost	(221,990)	(221,985)
Total equity attributable to stockholders of the
110,704	124,274
parent company
Non-controlling interests	9,340	9,789
Total equity	120,044	134,063
Total liabilities and equity	912,109	922,338

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1. Condensed Quarterly Consolidated Statement of Profit or Loss and Comprehensive Income
   Condensed Quarterly Consolidated Statement of Profit or Loss

		(Million yen)
	Three Months Ended	Three Months Ended
	June 30, 2022	June 30, 2023
	(April 1, 2022 to June 30, 2022)	(April 1, 2023 to June 30, 2023)
Revenues	199,452	194,722
Cost of sales	(173,255)	(167,408)
Gross profit	26,197	27,314
Selling, general and administrative expenses	(15,113)	(16,940)
Adjusted operating income	11,084	10,374
Other income	758	711
Other expenses	(1,181)	(560)
Operating income	10,661	10,525
Financial income	1,214	55
Financial expenses	(42)	(249)
Share of profits of investments accounted for	176	149
using equity method
Earnings before interest and taxes	12,009	10,480
Interest income	169	1,144
Interest expenses	(1,504)	(2,644)
Income before income taxes	10,674	8,980
Income taxes	(3,213)	(3,462)
Net income	7,461	5,518
Attributable to:
Stockholders of the parent company	7,030	5,286
Non-controlling interests	431	232
	Three Months Ended	Three Months Ended
	June 30, 2022	June 30, 2023
	(April 1, 2022 to June 30, 2022)	(April 1, 2023 to June 30, 2023)
Earnings per share attributable to stockholders of
the parent company
Basic	¥401,668,854.19	¥519,245,772.58
Diluted	－	－

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Condensed Quarterly Consolidated Statement of Comprehensive Income

		(Million yen)
	Three Months Ended	Three Months Ended
	June 30, 2022	June 30, 2023
	(April 1, 2022 to June 30, 2022)	(April 1, 2023 to June 30, 2023)
Net income	7,461	5,518
Other comprehensive income (OCI)
Items not to be reclassified into net income
Net changes in financial assets measured at	(52)	34
fair value through OCI
Share of OCI of investments accounted for	－	1
using the equity method
Total items not to be reclassified into net	(52)	35
income
Items that can be reclassified into net income
Foreign currency translation adjustments	7,101	9,917
Net changes in cash flow hedges	28	－
Share of OCI of investments accounted for	78	7
using the equity method
Total items that can be reclassified into net
7,207	9,924
income
Other comprehensive income	7,155	9,959
Comprehensive income	14,616	15,477
Attributable to:
Stockholders of the parent company	13,698	14,675
Non-controlling interests	918	802

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(3) Condensed Quarterly Consolidated Statement of Changes in Equity

(Million yen)

Three Months Ended June 30, 2022 (April 1, 2022 to June 30, 2022)

													Total equity
													attributable to
								Accumulated			Non-controlling
										stockholders of	Total equity
	Common		Retained			other	Treasury stock, at
	stock		earnings		comprehensive		cost	the parent	interests
				company
								income
Balance at beginning of year	16,803		145,026			9,162		(821)	170,170	8,043	178,213
Changes in equity
Net income					7,030							7,030	431	7,461
Other comprehensive income									6,668			6,668	487	7,155
Dividends				(2,348)							(2,348)	(118)	(2,466)
Acquisition and sales of												(2)	(2)		(2)
treasury stock
Share-based remuneration					5							5		5
transactions
Changes in liabilities for
written put options over					(755)			109			(646)	(259)	(905)
non-controlling interests
Total changes in equity	－			3,932			6,777		(2)	10,707	541	11,248
Balance at end of period	16,803		148,958			15,939		(823)	180,877	8,584	189,461
														(Million yen)
	Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)
													Total equity
													attributable to
										Accumulated		Non-controlling
											stockholders of	Total equity
	Common		Capital		Retained		other		Treasury
					the parent	interests
	stock		surplus		earnings		comprehensiv	stock, at cost
				company
										e income
Balance at beginning of year	310		147,257		168,856		16,271	(221,990)	110,704	9,340	120,044
Changes in equity
Net income							5,286					5,286	232	5,518
Other comprehensive income										9,389		9,389	570	9,959
Dividends													－	(167)	(167)
Transfer to retained							(1)			1		－		－
earnings
Increase by business													－	148	148
combination
Acquisition and sales of												5	5		5
treasury stock
Changes in liabilities for
written put options over			(1,374)						264		(1,110)	(334)	(1,444)
non-controlling interests
Total changes in equity	－		(1,374)			5,285		9,654	5	13,570	449	14,019
Balance at end of period	310		145,883		174,141		25,925	(221,985)	124,274	9,789	134,063

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