Consolidated Financial Statements of Hulic Co., Ltd.
for the fiscal years ended on December 31, 2022 and 2021
Hulic Co., Ltd. and Consolidated Subsidiaries | |||||||||||||||
Consolidated Balance Sheets | Thousands of | ||||||||||||||
As of December 31, 2022 and 2021 | U.S. Dollars | ||||||||||||||
Millions of Yen | (Note 1) | ||||||||||||||
ASSETS | 2022 | 2021 | 2022 | ||||||||||||
Current assets: | |||||||||||||||
Cash and bank deposits (Notes 8, 18 | and 20) | ¥ | 138,400 | ¥ | 206,206 | $ | 1,042,956 | ||||||||
(Notes 8 | |||||||||||||||
Notes and accounts receivable - trade | - | 4,876 | - | ||||||||||||
and 18) | (Notes 8 and | ||||||||||||||
Trade receivable and contract assets | |||||||||||||||
7,097 | - | 53,484 | |||||||||||||
18) | (Notes 3 and 4) | ||||||||||||||
Inventories | |||||||||||||||
95,540 | 110,700 | 719,971 | |||||||||||||
Other current assets | 9,870 | 7,381 | 74,383 | ||||||||||||
Allowance for doubtful accounts | (7) | (232) | (55) | ||||||||||||
Total current assets | 250,901 | 328,931 | 1,890,739 | ||||||||||||
Property, plant and equipment (Notes 3, 5, 8, 10, | |||||||||||||||
13 and 22): | 303,251 | 304,136 | 2,285,240 | ||||||||||||
Buildings and structures | |||||||||||||||
Machinery, equipment and vehicles | 11,373 | 7,668 | 85,710 | ||||||||||||
Land | 1,374,904 | 1,266,859 | 10,361,000 | ||||||||||||
Construction in progress | 16,207 | 9,630 | 122,135 | ||||||||||||
Other | 15,669 | 15,200 | 118,079 | ||||||||||||
1,721,406 | 1,603,494 | 12,972,166 | |||||||||||||
Less accumulated depreciation | (76,956) | (76,028) | (579,931) | ||||||||||||
Net property, plant and equipment | 1,644,449 | 1,527,466 | 12,392,234 | ||||||||||||
Investments and other assets: | 284,706 | 225,547 | 2,145,489 | ||||||||||||
Investment securities (Notes 18 and 19) | |||||||||||||||
Goodwill | 4,795 | 3,711 | 36,138 | ||||||||||||
Leasehold rights | 81,233 | 79,420 | 612,155 | ||||||||||||
Guarantee deposits | (Note 14) | 37,545 | 28,894 | 282,935 | |||||||||||
Deferred tax assets | (Note 9) | 856 | 951 | 6,457 | |||||||||||
Net defined benefit asset | 493 | 326 | 3,719 | ||||||||||||
Business commencement expenses | 22 | 30 | 166 | ||||||||||||
Share issuance costs | 404 | 626 | 3,046 | ||||||||||||
Bond issuance costs | 1,895 | 1,705 | 14,283 | ||||||||||||
Other assets | 13,064 | 9,727 | 98,453 | ||||||||||||
Allowance for doubtful accounts | (31) | (14) | (234) | ||||||||||||
Total investments and other assets | 424,986 | 350,927 | 3,202,611 | ||||||||||||
Total assets | ¥ | 2,320,337 | ¥ | 2,207,325 | $ | 17,485,586 | |||||||||
(Continued) |
See notes to consolidated financial statements.
1
Hulic Co., Ltd. and Consolidated Subsidiaries | |||||||||||||
Consolidated Balance Sheets | Thousands of | ||||||||||||
As of December 31, 2022 and 2021 | U.S. Dollars | ||||||||||||
Millions of Yen | (Note 1) | ||||||||||||
LIABILITIES AND NET ASSETS | 2022 | 2021 | 2022 | ||||||||||
Current liabilities: | ¥ | 660 | ¥ | 660 | $ | 4,973 | |||||||
Short-term borrowings (Notes 8 and 18) (Notes 8, | |||||||||||||
Current portion of long-term borrowings | 161,577 | 71,500 | 1,217,616 | ||||||||||
18 and 21) | |||||||||||||
Current portion of long-term bonds | (Notes 8 and | ||||||||||||
50,000 | - | 376,789 | |||||||||||
18) | 11,531 | 10,773 | 86,898 | ||||||||||
Income taxes payable | |||||||||||||
Accrued expenses | (Notes 8 and 18) | 3,843 | 3,704 | 28,964 | |||||||||
Other current liabilities | 18,144 | 20,413 | 136,735 | ||||||||||
Total current liabilities | 245,757 | 107,052 | 1,851,978 | ||||||||||
Long-term liabilities: | (Notes 8, 18 and 21) | ||||||||||||
Long-term borrowings | 857,748 | 977,326 | 6,463,816 | ||||||||||
Long-term bonds | (Notes 8 and 18) | 371,000 | 345,000 | 2,795,779 | |||||||||
Long-term deposits from tenants | 88,287 | 82,573 | 665,315 | ||||||||||
Deferred tax liabilities | (Note 14) | 53,532 | 40,499 | 403,413 | |||||||||
(Note 9) | |||||||||||||
Net defined benefit liability | 1,634 | 1,457 | 12,316 | ||||||||||
Provision for share awards(Notes 8 and 10) | 2,846 | 2,232 | 21,447 | ||||||||||
Other long-term liabilities | 12,376 | 12,852 | 93,269 | ||||||||||
Total long-term liabilities | 1,387,426 | 1,461,940 | 10,455,359 | ||||||||||
Net assets (Note 11): | |||||||||||||
Shareholders' equity: | |||||||||||||
Common stock, | |||||||||||||
Authorized, 1,800,000,000 shares in 2022 and | |||||||||||||
2021; issued, 767,907,735 shares in 2022 and | 111,609 | 111,609 | 841,068 | ||||||||||
2021 | |||||||||||||
Capital surplus | 137,741 | 137,759 | 1,037,989 | ||||||||||
Retained earnings | 401,090 | 352,351 | 3,022,534 | ||||||||||
Less treasury stock - at cost | (3,971) | (2,464) | (29,929) | ||||||||||
7,164,236 shares in 2022 and 5,802,693 shares | |||||||||||||
in 2021 | |||||||||||||
Total shareholders' equity | 646,469 | 599,256 | 4,871,664 | ||||||||||
Accumulated other comprehensive income: | 40,267 | 38,401 | 303,449 | ||||||||||
Unrealized gains on securities | |||||||||||||
Unrealized losses on hedging instruments | (261) | (54) | (1,968) | ||||||||||
Foreign currency translation adjustment | 0 | - | 1 | ||||||||||
Retirement benefits liability adjustments | 252 | 195 | 1,899 | ||||||||||
Total accumulated other comprehensive | 40,258 | 38,542 | 303,381 | ||||||||||
income | |||||||||||||
Non-controlling interests | 424 | 533 | 3,202 | ||||||||||
Total liabilities and net assets | 687,153 | 638,332 | 5,178,247 | ||||||||||
Total net assets | ¥ | 2,320,337 | ¥ | 2,207,325 | $ | 17,485,586 |
See notes to consolidated financial statements.
2
Hulic Co., Ltd. and Consolidated Subsidiaries | ||||||||||||
Consolidated Statements of Income | ||||||||||||
Years Ended December 31, 2022 and 2021 | Thousands of | |||||||||||
Millions of Yen | U.S. Dollars | |||||||||||
(Note 1) | ||||||||||||
Revenues from operations (Notes 16, 22, 24 and | 2022 | 2021 | 2022 | |||||||||
25) | ¥ | 523,424 | ¥ | 447,077 | $ | 3,944,417 | ||||||
Cost of revenues from operations | ||||||||||||
Selling, general and administrative expenses | 350,854 | 291,668 | 2,643,967 | |||||||||
(Notes 9, 12, 16 and 22) (Note 25) | 46,422 | 40,902 | 349,830 | |||||||||
Operating income | 126,147 | 114,507 | 950,620 | |||||||||
Other income (expenses): | 3,141 | 2,569 | 23,677 | |||||||||
Interest and dividend income | ||||||||||||
Share of profit of entities accounted for using | 1,033 | 458 | 7,786 | |||||||||
equity method | ||||||||||||
Interest expense | (10,415) | (10,208) | (78,485) | |||||||||
Other - net | (Note 13) | (2,428) | (1,664) | (18,302) | ||||||||
(8,668) | (8,845) | (65,323) | ||||||||||
Profit before income taxes | 117,478 | 105,662 | 885,296 | |||||||||
Income taxes (Note 14): | 26,666 | 26,437 | 200,955 | |||||||||
Current | ||||||||||||
Deferred | 11,661 | 8,766 | 87,877 | |||||||||
38,328 | 35,204 | 288,832 | ||||||||||
Profit attributable to non-controlling interests | 79,150 | 70,457 | 596,463 | |||||||||
Profit | ||||||||||||
Profit attributable to owners of parent (Note 17) | ¥ | 79,150 | ¥ | 69,564 | $ | 596,462 | ||||||
0 | 893 | 0 |
See notes to consolidated financial statements.
3
Hulic Co., Ltd. and Consolidated Subsidiaries | |||||||
Consolidated Statements of Comprehensive Income | Thousands of | ||||||
Years Ended December 31, 2022 and 2021 | U.S. Dollars | ||||||
Millions of Yen | (Note 1) | ||||||
2022 | 2021 | 2022 | |||||
Profit | ¥ | 79,150 | ¥ | 70,457 | $ | 596,463 | |
Other comprehensive income (Note 15): | 2,963 | 8,361 | 22,330 | ||||
Unrealized gains on securities | |||||||
Unrealized losses on hedging instruments | (206) | (40) | (1,556) | ||||
Retirement benefits liability adjustments | 64 | 310 | 485 | ||||
Share of other comprehensive income of entities | (1,105) | 415 | (8,328) | ||||
accounted for using equity method | |||||||
Total other comprehensive income | 1,715 | 9,046 | 12,931 | ||||
Comprehensive income | ¥ | 80,866 | ¥ | 79,504 | $ | 609,394 | |
Total comprehensive income attributable to: | ¥ | 80,866 | ¥ | 78,610 | $ | 609,393 | |
Owners of parent | |||||||
Non-controlling interests | 0 | 893 | 0 |
See notes to consolidated financial statements.
4
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Hulic Co. Ltd. published this content on 16 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2023 00:09:06 UTC.