Three-Month Consolidated Financial Report
for the Fiscal Year Ending October 31, 2022 (Japan GAAP)
Listed Company Name | Kanamoto Co., Ltd. | March 4, 2022 | |
Company Code Number | 9678 | ||
Listing Exchanges | Tokyo Stock Exchange, Sapporo Stock Exchange | ||
URL | https://www.kanamoto.co.jp | ||
Representative | Tetsuo Kanamoto | President and CEO | |
Inquiries | Shun Hirose | Director & Corporate Officer, Division Manager, | |
Accounting Division | |||
TEL 81-11-209-1600 | |||
Scheduled date for submission of Quarterly Report | March 16, 2022 | ||
Scheduled date for commencement of dividend payments | - | ||
Preparation of Quarterly Settlement Supplementary Explanatory Materials | No | ||
Quarterly Earnings Briefings | No |
(Numbers less than one million yen have been rounded down)
1. Consolidated Operating Results for the Three-Month Period of the Fiscal Year Ending October 31, 2022
(November 1, 2021 - January 31, 2022) | ||||||||||||||
(1) Consolidated Operating Results (Cumulative) | (Percentages show the change from the prior year) | |||||||||||||
Net Sales | Operating Profit | Ordinary Profit | Profit Attributable to | |||||||||||
Owners of Parent | ||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||
Fiscal year ending | ||||||||||||||
October 31, 2022: | 46,730 | - | 3,311 | -16.2 | 3,509 | -16.0 | 2,072 | -8.5 | ||||||
First quarter | ||||||||||||||
Fiscal year ended | ||||||||||||||
October 31, 2021: | 47,660 | 4.9 | 3,953 | -7.3 | 4,177 | -4.3 | 2,266 | -10.7 | ||||||
First quarter | ||||||||||||||
(Note) Comprehensive | income (millions | of yen) | ||||||||||||
Fiscal year ending October 31, 2022, First quarter | 2,636 | (-19.7%) | ||||||||||||
Fiscal year ended October 31, 2021, First quarter | 3,281 | (8.4%) | ||||||||||||
Earnings per | Earnings per | |||||||||||||
Share on a Fully | ||||||||||||||
Share | ||||||||||||||
Diluted Basis | ||||||||||||||
Yen | Yen | |||||||||||||
Fiscal year ending | ||||||||||||||
October 31, 2022: | 55.04 | - | ||||||||||||
First quarter | ||||||||||||||
Fiscal year ended | ||||||||||||||
October 31, 2021: | 59.95 | - | ||||||||||||
First quarter |
(Notes) 1. The Company applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the fiscal year ending October 31, 2022, and the figures for the first quarter of the fiscal year ending October 31, 2022 are figures after the application of the said accounting standard. As such, the change in net sales from the same period of the previous year is not shown.
2. In the previous fiscal year, the Company finalized the provisional accounting treatment for business combinations, and the figures for the first quarter of the fiscal year ended October 31, 2021 reflect the finalized content of the provisional accounting treatment.
- Consolidated Financial Position
Total Assets | Net Assets | Equity Ratio | ||||
Millions of yen | Millions of yen | % | ||||
As of January 31, | 300,153 | 135,052 | 42.3 | |||
2022 | ||||||
As of October 31, | 303,754 | 134,917 | 41.8 | |||
2021 | ||||||
(Reference) Equity (millions of yen) | ||||||
As of January 31, 2022 | 126,897 | |||||
As of October 31, 2021 | 126,956 |
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(Note) The Company applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the fiscal year ending October 31, 2022, and the figures for the first quarter of the fiscal year ending October 31, 2022 are figures after the application of the said accounting standard.
2. Dividends
Annual Dividends per Share | |||||||||
End of | End of | End of | Year-end | Full-year | |||||
first quarter | second quarter | third quarter | |||||||
Yen | Yen | Yen | Yen | Yen | |||||
Fiscal year ended October 31, | - | 25.00 | - | 45.00 | 70.00 | ||||
2021 | |||||||||
Fiscal year ending October 31, | - | ||||||||
2022 | |||||||||
Fiscal year ending October 31, | 35.00 | - | 40.00 | 75.00 | |||||
2022 (projected) | |||||||||
(Note) Has the Company revised its | most recently released dividend projection?: No |
3. Projected Consolidated Operating Results for the Fiscal Year Ending October 31, 2022 (November 1, 2021 - October 31, 2022)
(Percentages show the change from the prior year)
Net Sales | Operating Profit | Ordinary Profit | Profit Attributable to | Earnings per | |||||
Owners of Parent | Share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Interim period | 95,500 | - | 8,200 | 1.7 | 8,300 | -3.8 | 5,100 | 3.1 | 135.42 |
Full year | 191,100 | - | 15,600 | 6.7 | 15,800 | 2.7 | 9,700 | 8.9 | 257.56 |
(Notes) 1. Has the Company revised its most recently released projected consolidated operating results during the quarter?: No
2. As the Company applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the fiscal year ending October 31, 2022, the above projected consolidated operating results are after the application of the said accounting standard. As a result, the percentages for net sales for the previous fiscal year and the same period of the previous year are not shown.
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Notes
- Changes in material subsidiaries during the period under review (Changes in specific subsidiaries in conjunction with a change in the scope of consolidation): No
- Application of special accounting method in the preparation of quarterly consolidated financial statements: No
- Changes in accounting principles, changes in accounting estimates and retrospective restatements
- Changes in accounting policy in conjunction with revision of accounting standards: Yes
- Changes other than the above: No
- Changes in accounting estimates: No
- Retrospective restatements: No
(Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Significant Notes Thereto (3) Notes Concerning Quarterly Consolidated Financial Statements (Changes in Accounting Policies)" on page 11 of the Attachments.
-
Number of shares issued (common shares)
(a) Number of shares outstanding at the end of the period (including treasury shares)
As of January 31, 2022: | 38,742,241 shares |
As of October 31, 2021: | 38,742,241 shares |
(b) Number of treasury shares at the end of the period | |
As of January 31, 2022: | 1,255,165 shares |
As of October 31, 2021: | 924,846 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Fiscal year ending October 31, 2022: First quarter: | 37,660,982 shares |
Fiscal year ended October 31, 2021: First quarter: | 37,803,099 shares |
Note: Quarterly earnings reports are not subject to quarterly review by certified public accountants or independent account auditors.
Note: Explanation concerning appropriate use of the projected operating results and other items to note (Note concerning forward-looking statements)
The forward-looking statements, including business results forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. The Company does not guarantee the achievement of the projections. Actual operating results may differ substantially due to a number of factors. Please refer to "1. Qualitative Information Concerning Quarterly Consolidated Operating Results (3) Explanation Concerning Future Forecasts Including Projected Consolidated Operating Results" on page 6 of the Attachments for the conditions used as assumptions for the projected operating results and matters to note before using the projected operating results.
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○Attachments Table of Contents | ||
1. Qualitative Information Concerning Quarterly Consolidated Operating Results .................................. | 5 | |
(1) | Qualitative Information Concerning Consolidated Operating Results ........................................... | 5 |
(2) | Qualitative Information Concerning Consolidated Financial Position ............................................ | 6 |
(3) | Explanation Concerning Future Forecasts Including Projected Consolidated Operating Results ....... | 6 |
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto ..................................... | 7 | |
(1) | Quarterly Consolidated Balance Sheets................................................................................... | 7 |
(2) | Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of | |
Comprehensive Income ........................................................................................................ | 9 | |
(Quarterly Consolidated Statements of Income) ................................................................... | 9 | |
(Consolidated Three-Month Period Ended January 31)........................................................ | 9 | |
(Quarterly Consolidated Statements of Comprehensive Income) ........................................... | 10 | |
(Consolidated Three-Month Period Ended January 31)...................................................... | 10 | |
(3) | Notes Concerning Quarterly Consolidated Financial Statements ............................................... | 11 |
(Notes Relating to the Going Concern Assumption) ............................................................. | 11 | |
(Note on Significant Changes to Shareholders' Equity)......................................................... | 11 | |
(Changes in Accounting Policies)....................................................................................... | 11 | |
(Supplemental Information) ............................................................................................. | 12 | |
(Segment Information).................................................................................................... | 12 |
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1.Qualitative Information Concerning Quarterly Consolidated Operating Results
(1) Qualitative Information Concerning Consolidated Operating Results
During the three-month period under review, Japan's economy gradually began to recover amid the continuing impact of COVID-19. However, the outlook remains uncertain due to concerns about the spread of infection caused by new variants strains and the increasing downside risk from global semiconductor supply shortages.
In the construction industry in which the Group is involved, although public sector investment remained strong and private sector construction investment has shown signs of picking up, the situation still requires monitoring as rising material prices and chronic shortage of skilled construction workers are becoming increasingly more severe.
In such circumstances, to achieve the goals of its Medium-Term Corporate Management Plan "Creative 60" (FY2020-2024), the Group is promoting three key measures: expansion of domestic bases for operations, overseas expansion, and optimization of internal operations. In addition, to build a solid revenue and stable management base for the future, the Group is committed to sustainable development and the enhancement of corporate value through measures such as a flexible investment strategy that responds to actual demand and the strengthening of its systems for the appropriate deployment and efficient operation of rental equipment.
For the three-month period under review, the Group reported net sales of ¥46,730 million. On the earnings front, partly due to an increase in selling, general and administrative expenses caused by investment in human resources in preparation for the future, operating profit decreased 16.2% from the same period of the prior fiscal year to ¥3,311 million, ordinary profit declined 16.0% to ¥3,509 million, and profit attributable to owners of parent decreased 8.5% to ¥2,072 million.
Please note that the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ regulations from the beginning of the first quarter under review. For details, please refer to "2. Quarterly Consolidated Financial Statements and Significant Notes Thereto (3) Notes Concerning Quarterly Consolidated Financial Statements (Changes in Accounting Policies)."
Results for each of the Company's business segments were as follows.
< Business related to the Construction Equipment Rental Division >
In the construction-related business, which is Kanamoto's core business, although public sector investment including activity being carried out for Japan's National Resilience Plan remained strong, a full- scale recovery in rental demand for construction equipment did not eventuate.
In addition, the Group is striving to strengthen its ability to respond to the fields of maintenance and repair of social infrastructure and renewable energy, where demand is expected to increase toward the realization of a decarbonized society. The Group has also promoted business alliances to accelerate digital transformation, and construction DX that contributes to labor-saving and safety improvements at construction sites.
Used construction equipment sales decreased 40.0% year on year, as Kanamoto has carried out the extension of the rental equipment operation period as planned at the beginning of the fiscal year.
Reflecting these factors, the Group posted net sales in the construction-related businesses of ¥42,636 million, and operating profit of ¥2,901 million, a decrease of 18.3%.
< Other businesses >
In the Group's other businesses, net sales was ¥4,094 million and operating profit increased by 1.4% year on year to ¥287 million, as the business related to the Steel Sales Division as well as the business related to the Information Products Division and welfare-related business performed well.
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Kanamoto Co. Ltd. published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 04:05:00 UTC.