Second Quarter Fiscal Year Ending March 31, 2023
Consolidated Earnings Announcement (Japanese GAAP)
November 10, 2022 | ||
Company Name: Hoosiers Holdings Co., Ltd. | Listed market: Tokyo Stock Exchange Prime Market | |
Stock Code: | 3284 | URL: https://www.hoosiers.co.jp/ |
President and Representative Director, | ||
Representative: (Title) Executive Officer | (Name) Eiichi Ogawa | |
Head of Business Planning Section, | ||
Contact: | (Title) Executive Officer | (Name) Yoshiro Narukami Telephone: +81-3-3287-0704 |
Scheduled date to file quarterly report: | November 11, 2022 | |
Scheduled date to commence dividend payment: | December 5, 2022 | |
Preparation of supplemental information of quarterly financial results: Yes | ||
Holding of quarterly financial results briefing: | Yes (For institutional investors and analysts) |
(Figures are rounded down to the nearest million yen)
1. 2nd Quarter FY3/23 Consolidated Earnings Results (April 1, 2022 to September 30, 2022)
(1) Consolidated Earnings (Cumulative) | (% indicates changes from the same period of the previous fiscal year) | ||||||||||||||
Net Sales | Operating Income | Ordinary Income | Profit Attributable to | ||||||||||||
Owners of Parent | |||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||
2nd Quarter FY3/23 | 20,102 | (25.2) | 286 | (81.6) | (237) | - | (256) | - | |||||||
2nd Quarter FY3/22 | 26,863 | (8.2) | 1,559 | 67.9 | 1,078 | 48.4 | 483 | (42.0) | |||||||
(Note) Comprehensive income: | 2nd Quarter FY3/23 | ¥1,028 million | (15.6%) | 2nd Quarter FY3/22 | ¥889 | million (27.5%) | |||||||||
Earnings per Share | Diluted | ||||||||||||||
Earnings per Share | |||||||||||||||
Yen | Yen | ||||||||||||||
2nd Quarter FY3/23 | (7.25) | - | |||||||||||||
2nd Quarter FY3/22 | 13.65 | 13.63 | |||||||||||||
(2) Consolidated Financial Position | |||||||||||||||
Total Assets | Net Assets | Equity Ratio | |||||||||||||
Million yen | Million yen | % | |||||||||||||
As of September 30, 2022 | 134,877 | 39,254 | 23.3 | ||||||||||||
As of March 31, 2022 | 127,905 | 38,960 | 24.4 |
(Reference) Shareholders' equity: As of September 30, 2022 ¥31,418 million As of March 31, 2022 ¥31,263 million
2. Dividends
Dividend per Share | ||||||
End of | End of | End of | End of Year | Annual | ||
1st Quarter | 2nd Quarter | 3rd Quarter | ||||
Yen | Yen | Yen | Yen | Yen | ||
FY3/22 | - | 17.00 | - | 19.00 | 36.00 | |
FY3/23 | - | 24.00 | ||||
FY3/23 (Forecast) | - | 24.00 | 48.00 |
(Note) Changes in the latest forecasts released: No
3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 2023 (From April 1, 2022 to March 31, 2023)
(% indicates changes from the same period of the previous fiscal year)
Net Sales | Operating Income | Ordinary Income | Profit Attributable to | Earnings per Share | ||||||
Owners of Parent | ||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | ||
Full year | 80,000 | 0.6 | 7,300 | 9.0 | 6,500 | 14.2 | 4,200 | 36.9 | 118.71 |
(Note) Changes in the latest forecasts released: No
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- Matters to be noted
- Changes in important subsidiaries during the quarter under review: No
- Application of specific accounting treatments in preparing the quarterly consolidated financial statements: No
- Changes in accounting principles, changes in accounting estimates and retrospective restatements
- Changes in accounting principles in accordance with revisions to accounting and other standards: Yes
- Changes in accounting principles other than above (a): No
- Changes in accounting estimates: No
- Retrospective restatements: No
Note: Please refer to "2. Consolidated Quarterly Financial Statements and Main Notes, (4) Matters to be Noted regarding Consolidated Quarterly Financial Statements (Changes in accounting principles)" on page 12.
(4) Outstanding shares (Common stock)
(a) Number of outstanding shares at the end of | September 30, 2022 | 36,916,775 | shares | March 31, 2022 | 36,916,775 | shares |
period (Including treasury shares) | ||||||
(b) Number of treasury shares at the end of | September 30, 2022 | 1,537,512 | shares | March 31, 2022 | 1,537,512 | shares |
period | ||||||
(c) Average number of shares during the period | 2nd Quarter FY3/23 | 35,379,263 | shares | 2nd Quarter FY3/22 | 35,379,263 | shares |
(Quarterly cumulative period) | ||||||
The number of treasury shares includes 410,550 shares of our company that are held by Board Benefit Trust as of the end of the second quarter under review.
*Earnings Announcement is out of scope of quarterly reviews by certified public accountants or an audit corporation.
*Explanatory statement regarding the proper use of financial forecasts and other notes
All forecasts provided in this document are based on certain reasonable assumptions and beliefs in light of information currently available and, therefore, it is not intended for guaranteeing to meet them. Actual results may differ from our forecasts due to various unforeseen reasons.
*The year-on-year percentage change is indicated as"-" if figures for the six months ended September 30, 2022 and/or 2021 were negative.
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○ Table of contents of the attached document
1. Qualitative Information on the Financial Statements for the Quarter under Review ……………………………………… | 4 |
(1) Explanation about business performance …………………………………………………………………….….……… | 4 |
(2) Qualitative information on consolidated financial position ………………………………………………………….…. | 5 |
(3) Qualitative information on consolidated earnings forecasts ……………………………………………………………... | 5 |
2. Consolidated Quarterly Financial Statements and Main Notes ……………………………………………………………… | 6 |
(1) Consolidated Quarterly Balance Sheet ………………………………………………………………………………… | 6 |
(2) Consolidated Quarterly Income Statement and Comprehensive Income Statement ………………………………...… | 8 |
(3) Consolidated Quarterly Cash Flow Statement …………………………………………………………………………... | 10 |
(4) Matters to be Noted regarding Consolidated Quarterly Financial Statements ………………………………………… | 12 |
(Notes on the premise of a going concern) …………………………………………………………………………...… | 12 |
(Notes on the significant change in the shareholders' equity amount) ………………………………………………... | 12 |
(Changes in accounting principles) …………………………………………………………………………………… | 12 |
(Segment information, etc.) …………………………………………………………………………………………… | 12 |
(Important subsequent events) ………………………………………………………………………………………… | 13 |
3. Other Information ……………………………………………………………………………………………………….…… | 14 |
(1) Records of Sales ………………………………………………………………………………………………………… | 14 |
(2) Real Estate Sales Information ………………………………………………………………………………………….… | 15 |
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1. Qualitative Information on the Financial Statements for the Quarter under Review
- Explanation about business performance
During the second quarter under review, the number of contracted units was 607 and 2 buildings, and that of delivered units was 317 and 4 buildings. As of the end of the second quarter, we managed 19,750 units. Consequently, as the results for the second quarter, we posted net sales of ¥20,102 million (down 25.2% year over year), operating income of ¥286 million (down 81.6% year over year), ordinary loss of ¥237 million (ordinary profit of ¥1,078 million a year earlier), and loss attributable to owners of parent of ¥256 million (profit attributable to owners of parent of ¥483 million a year earlier).
In our Real Estate Development, CCRC, and Real Estate Investment, sales are booked upon delivery to customers, not at the time purchase and sales contracts are executed. As a result, this tends to cause a deviation in quarterly sales depending on the timing of delivery.
Results by segment are as follows.
(I) Real Estate Development
During the second quarter under review, the Group recorded net sales of ¥6,202 million (down 47.2% year over year) and operating loss of ¥649 million (operating income of ¥228 million a year earlier) due to a delivery of 154 condominium units such as "Duo Hills Obu The Marks," and "Duo Hills Sakai The Residence", etc.
(II) CCRC
During the second quarter under review, the Group recorded net sales of ¥7,768 million (up 5.5% year over year) and operating income of ¥1,003 million (up 47.8% year over year) due to a delivery of 163 condominium units such as "Duo Scene Egota-no-Mori Park", etc.
(III) Real Estate Investment
We recorded net sales of ¥2,801 million (down 39.0% year over year) and operating loss of ¥247 million (operating income of ¥406 million a year earlier) during the second quarter under review.
-
Real Estate Sales
Due to the sales of inventory assets, we recorded net sales of ¥1,249 million (down 59.0% year over year). - Rental Revenue
We recorded net sales of ¥1,385 million (up 5.2% year over year) due to the stable operation of owned income-producing properties.
(IV) Condominium Management and Related Services
We recorded net sales of ¥3,307 million (up 6.0% year over year) and operating income of ¥90 million (down 36.8% year over year) during the second quarter under review.
-
Condominium Management
We recorded net sales of ¥1,000 million (up 5.2% year over year) due to the start of the new management contracting of "Duo Hills Obu The Marks" and "Duo Hills Sakai The Residence," etc. in condominium management. - Sports Club Operation Revenue
We recorded net sales of ¥1,789 million (up 3.4% year over year) mainly due to the operation of sports clubs. - Other Income
We recorded net sales of ¥516 million (up 18.1% year over year) in hotel business and consigned construction, etc.
-
Condominium Management
- Other
We recorded net sales of ¥23 million (down 37.3% year over year) and operating income of ¥4 million (down 60.0% year over year) through PFI operations.
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The progress status of the annual delivery plan in the Real Estate Sales is shown below. In Condominium apartments , the main business of the Group, 87.7% of the contracts have been executed.
FY3/23 | Number of units | Number of contracts | Progress |
to be delivered | signed | ||
Condominium apartments | 1,034 | 906 | 87.7% |
Condominium apartments for | 310 | 207 | 66.8% |
seniors | |||
Detached houses | 46 | 4 | 8.7% |
Total | 1,390 | 1,117 | 80.4% |
(Notes) 1. "Condominium apartments" show the total number of family condominiums and compact condominiums.
2. The number of units for joint venture properties is shown with consideration for the joint venture ratio (by rounding off to the whole number).
- Qualitative information on consolidated financial position
- Financial condition analysis
As of the end of the second quarter under review, total assets amounted to ¥134,877 million (up 5.5% from March 31, 2022), total liabilities amounted to ¥95,623 million (up 7.5% from March 31, 2022), and total net assets amounted to ¥39,254 million (up 0.8% from March 31, 2022) mainly due to purchases of development sites resulting in an increase in inventories.
(II) Cash flow condition analysis
During the second quarter under review, cash and cash equivalents decreased by ¥3,181 million to ¥26,962million mainly due to a decrease of cash from operating activities resulting from an increase in inventories and a decrease in advances received.
・Cash flows from operating activities
Net cash used in operating activities was ¥7,897 million (¥10,660 million provided a year earlier), which was mainly due to an increase in inventories and a decrease in advances received.
・Cash flows from investing activities
Net cash provided by investing activities was ¥283 million (¥170 million used a year earlier), which was mainly due to collection of loans receivable.
・Cash flows from financing activities
Net cash provided by financing activities was ¥4,101 million (¥4,737 million used a year earlier), which was mainly due to proceeds from long-term loans payable.
(3) Qualitative information on consolidated earnings forecasts
The earnings forecasts for the fiscal year ending March 31, 2023 remain unchanged from those announced on May 12, 2022 as results and sales status for the second quarter under review have progressed as planned and the Group's operating environment is within the scope of the assumption.
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Hoosiers Holdings Co. Ltd. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 07:06:04 UTC.