Japan Asia Investment Co., Ltd.
Fund Consolidation
This document has been translated from Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
Consolidated Financial Results
for the Year Ended March 31, 2023
[Japanese Standards]
(Summary of Japanese announcement)
May 15, 2023 | ||
Company name: | Japan Asia Investment Co., Ltd. | |
Listed on: | Tokyo Stock Exchange, Standard Market (Stock code: 8518) | URL: https://www.jaic-vc.co.jp/ |
Head office: | Tokyo | |
Representative: | Tetsuro Shimomura, President and CEO | |
Contact: | Kenji Kishimoto, Executive Officer |
Tel: +81-3-3221-8518 (main)
Scheduled date for ordinary general meeting of shareholders: June 28, 2023
Scheduled date for submission of annual report: June 29, 2023
Scheduled date for start of payment of dividends: -
The additional materials of the Financial Results: Yes
The briefing session of the Financial Results: None *We will distribute a video explaining financial results in Japanese on our website.
(Throughout this report, fractional amounts have been rounded down to the nearest one million yen.)
1. Consolidated business results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
(1) Consolidated results of operations
(Percentages indicate year-on-year increase or decrease)
Operating revenue | Operating income | Ordinary income | Profit attributable to | |||||
owners of parent | ||||||||
Millions of yen | % change | Millions of yen % change | Millions of yen % change | Millions of yen % change | ||||
For the year ended | 3,872 | 20.9 | 11 | - | (126) | - | (295) | ― |
March 31, 2023 | ||||||||
For the year ended | 3,204 | (13.6) | (237) | - | (412) | - | 19 | (42.5) |
March 31, 2022 | ||||||||
(Note) Comprehensive Income
For the year ended March 31, 2023: 563 millions of yen (29.4%)
For the year ended March 31, 2022: 798 millions of yen 358.4%
Diluted net income | Ordinary income to | Operating income | |||
Net income per share | Return on equity | to operating | |||
per share | total assets | ||||
revenues | |||||
For the year ended | Yen | Yen | % | % | % |
(16.69) | ― | (3.8) | (0.7) | 0.3 | |
March 31, 2023 | |||||
For the year ended | 1.09 | 1.08 | 0.3 | (1.8) | (7.4) |
March 31, 2022 | |||||
(Reference)Equity in earnings (loss) of affiliates
For the year ended March 31 2023: ― millions of yen
For the year ended March 31 2022: ― millions of yen
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Japan Asia Investment Co., Ltd.
Fund Consolidation
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||
As of March 31, 2023 | 18,775 | 9,101 | 40.4 | 428.22 | |||||||||
As of March 31, 2022 | 20,231 | 9,443 | 38.4 | 438.69 | |||||||||
(Reference) Total shareholders' equity; | |||||||||||||
As of March 31, 2023: 7,581 millions of yen / As of March 31, 2022: 7,766 millions of yen | |||||||||||||
(3) Cash flows | |||||||||||||
Cash flow from operating | Cash flow from investing | Cash flow from financing | Cash and cash equivalents | ||||||||||
activities | activities | activities | at year-end | ||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | ||||||||||
For the year ended March 31, | 157 | 0 | (806) | 1,762 | |||||||||
2023 | |||||||||||||
For the year ended March 31, | (145) | 212 | (1,007) | 2,397 | |||||||||
2022 | |||||||||||||
2. Dividends | |||||||||||||
Dividends per share | |||||||||||||
(Base date) | End of first quarter | End of second quarter | End of third quarter | End of year | Year | ||||||||
Year ended March | Yen | Yen | Yen | Yen | Yen | ||||||||
- | 0.00 | - | 0.00 | 0.00 | |||||||||
31, 2022 | |||||||||||||
Year ended March | - | 0.00 | - | 0.00 | 0.00 | ||||||||
31, 2023 | |||||||||||||
Year ending March | - | 0.00 | - | 0.00 | 0.00 | ||||||||
31, 2024 (forecast) | |||||||||||||
3. Outlook for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
The overall private equity investment business conducted by the Group (including investment partnerships) is significantly affected by changing factors such as stock markets, given the characteristics of the business. In addition, it has been difficult to forecast results reasonably in the rapidly changing environment. Therefore we do not disclose the results forecast. For the convenience of investors and shareholders, however, we disclose "result forecast consolidated under the Previous Accounting Standard" even though it does not have enough rationality. For details, please refer to "2. Outlook for the fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)" on page 23.
The "result forecast consolidated under the Previous Accounting Standard" and any other forward-looking statements in this document are based upon the information currently available to JAIC at the time of writing and certain assumptions. The achievement is not promised. Numerous factors could cause actual results to differ materially from these result forecasts.
4. Other matters
- Changes among significant subsidiaries (Changes among specific subsidiaries resulting in changes in the scope of consolidation): Yes
[New - company (company name: - ) Excluded 1 company (company name: 1 Investment Fund)]
- Changes in accounting principles, accounting estimates and correction of prior period errors
- Changes in accounting principles due to revisions to accounting standards: None
- Changes other than shown in (i) above: None
- Changes in accounting estimates: None
- Correction of prior period errors: None
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Japan Asia Investment Co., Ltd.
Fund Consolidation
(3) No. of shares issued and outstanding (common stock)
(i) Shares issued and outstanding at the | The year ended March | 17,884,392 | The year ended March | 17,884,392 |
end of each period (including treasury | ||||
31, 2023: | shares | 31, 2022: | shares | |
stock) | ||||
(ii) Shares of treasury stock at the end of | The year ended March | 181,009 | The year ended March | 181,009 |
each period | 31, 2023: | shares | 31, 2022: | shares |
(ii) Average number of shares during the | The year ended March | 17,703,383 | The year ended March | 17,703,383 |
period | 31, 2023: | shares | 31, 2022: | shares |
Reference: Non-consolidated results
Business results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
(1) Results of operations | (Percentages indicate year-on-year increase or decrease) | |||||||||||||
Operating revenues | Operating income | Ordinary income | Net income | |||||||||||
For the year ended | Millions of yen | % change | Millions of yen | % change | Millions of yen | % change | Millions of yen | % change | ||||||
2,876 | 28.1 | (99) | ― | (126) | ― | (170) | ― | |||||||
March 31, 2023 | ||||||||||||||
For the year ended | 2,244 | (22.8) | 132 | (32.4) | 118 | (22.3) | 106 | (20.9) | ||||||
March 31, 2022 | ||||||||||||||
Net income per share | Diluted net income | |||||||||||||
per share | ||||||||||||||
Yen | Yen | |||||||||||||
For the year ended | (9.61) | ― | ||||||||||||
March 31, 2023 | ||||||||||||||
For the year ended | 6.02 | 5.99 | ||||||||||||
March 31, 2022 | ||||||||||||||
(2) Financial position | ||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||
As of March 31, 2023 | 12,967 | 7,267 | 55.8 | 408.61 | ||||||||||
As of March 31, 2022 | 14,571 | 7,454 | 50.9 | 419.29 |
(Reference) Total shareholders' equity As of March 31, 2023: 7,233 millions of yen / As of March 31, 2022: 7,422 millions of yen
*This report is not subject to audit procedures.
*Cautionary Statements with Respect to Forward-looking Statements and Other Notes
The additional materials of the financial results for the year ended March 31, 2023 will be released on our website on May 15, 2023.
The "result forecast consolidated under the Previous Accounting Standard" and any other forward-looking statements in this document are based upon the information currently available to the Group at the time of writing and certain assumptions. The achievement is not promised. Numerous factors could cause actual results to differ materially from these result forecasts.
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Japan Asia Investment Co., Ltd.
Fund Consolidation
1. Business Performance and Financial Condition
(1) Breakdown of operating revenue and operating cost | |||||
(Millions of yen) | |||||
For the year ended | For the year ended | ||||
March 31, 2022 | March 31, 2023 | ||||
(from April 1, 2021 | (from April 1, 2022 | ||||
to March 31, 2022) | to March 31, 2023) | ||||
Total operating revenue | 3,204 | 3,872 | |||
Management fees | 117 | 113 | |||
Proceeds of | sales of | operational | 1,732 | 2,071 | |
investment securities | |||||
Fund interests | income | and Income | 1,330 | 1,668 | |
gains etc. | |||||
Other operating revenue | 24 | 18 | |||
Total operating cost | 1,971 | 2,453 | |||
Cost of securities sold | 887 | 1,316 | |||
Investment write-offs & Provision | |||||
for allowance for possible | 160 | 316 | |||
investment losses | |||||
Fund interests losses etc. | 914 | 806 | |||
Other operating cost | 10 | 12 |
Operating gross profit | 1,232 |
(2) Investment income
1,419
(Millions of yen)
For the year ended | For the year ended | |||||||||
March 31, 2022 | March 31, 2023 | |||||||||
(from April 1, 2021 | (from April 1, 2022 | |||||||||
to March 31, 2022) | to March 31, 2023) | |||||||||
Project | Private | Project | Private | |||||||
equity | total | equity | total | |||||||
investment | investment | |||||||||
investment | investment | |||||||||
Proceeds of sales of operational | 669 | 1,062 | 1,732 | 149 | 1,921 | 2,071 | ||||
investment securities (A) | ||||||||||
Cost of securities sold (B) | 521 | 365 | 887 | 90 | 1,226 | 1,316 | ||||
Realized capital gains (A)-(B) | 147 | 697 | 845 | 59 | 695 | 754 | ||||
Investment write-offs & Provision for | ||||||||||
allowance for possible investment losses | ― | 160 | 160 | 75 | 241 | 316 | ||||
(C) | ||||||||||
Investment income (A)-(B)-(C) | 147 | 537 | 685 | (15) | 453 | 437 |
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Japan Asia Investment Co., Ltd.
Fund Consolidation
(3) Cash flows | ||||||
(Millions of yen) | ||||||
For the year ended | For the year ended | |||||
March 31, 2022 | March 31, 2023 | |||||
(from April 1, 2021 | (from April 1, 2022 | |||||
to March 31, 2022) | to March 31, 2023) | |||||
Cash flow from operating activities | ሺ145) | 157 | ||||
Cash flow from investing activities | 212 | 0 | ||||
Cash flow from financing activities | 1,007) | 806) | ||||
ሺ | ሺ | |||||
Cash and cash equivalents at the | ||||||
end of period | 2,397 | 1,762 | ||||
(4) Breakdown of total assets | ||||||
(Millions of yen) | ||||||
As of March 31, 2022 | As of March 31, 2023 | |||||
Amount | (B)/(A) (%) | Amount | (B)/(A) (%) | |||
Total assets | 20,231 | - | 18,775 | - | ||
Cash and deposits | 5,666 | - | 3,130 | - | ||
Property, plant and equipment | 4,148 | - | 5,432 | - | ||
Operational Investment | 9,538 | - | 9,375 | - | ||
Securities (A) | ||||||
Allowance for Possible | ሺ1,492) | 15.6 | (1,588) | 16.9 | ||
Investment Loss (B) | ||||||
(5) Breakdown of loans payable and bonds | ||||||
(Millions of yen) | ||||||
As of March 31, 2022 | As of March 31, 2023 | |||||
Total of loans payable and bonds | 9,521 | 8,993 | ||||
Loans payable; | 5,943 | 5,137 | ||||
Non-consolidated base | ||||||
Loans payable by project finance | ||||||
and bonds and others; | 3,578 | 3,856 | ||||
Consolidated projects and others |
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JAIC - Japan Asia Investment Co. Ltd. published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 09:27:03 UTC.