Kawasaki Heavy Industries : Flash Report for the First Quarter of the Fiscal Year Ending March 31, 2023(Consolidated Basis) (PDF...

KAWASAKI HEAVY INDUSTRIES, LTD. AND CONSOLIDATED SUBSIDIARIES

FLASH CONSOLIDATED FINANCIAL RESULTS	August 12, 2022
For three months ended June 30, 2022 and 2021 and one year ended March 31, 2022	(Consolidated)

Operating results

			(Millions of yen)
	Three months ended		Three months ended
Revenue	Jun. 30, 2022		Jun. 30, 2021
350,344		355,570
Business Profit	4,593	18,551
Profit attributable to owners of parent	5,457	11,460
Earnings per share (Yen)	32.58	68.60

Financial position

	(Millions of yen / Thousand shares)
	As of		As of
Total assets	Jun. 30, 2022		Mar. 31, 2022
2,246,868		2,174,630
Equity	537,827	524,891
Number of shares issued and outstanding	167,471	167,472
Equity Ratio	23.1%	23.2%

Cash flows

			(Millions of yen)
	Three months ended		Three months ended
Operating activities	Jun. 30, 2022		Jun. 30, 2021
(61,995)		(29,575)
Investing activities	(24,035)	(13,577)
Financing activities	62,769	37,701
Cash and cash equivalents at end of period	78,495	117,064

Fiscal year forecast					(Millions of yen)
	Revenue		Business profit		Profit attributable to
			owners of parent
One year ending March 31, 2023	1,690,000	56,000	32,000

Note: The KHI Group has adopted International Financial Reporting Standards(IFRS) from the first

quarter ending June 30, 2022, and the consolidated financial data for the first quarter ending June 30, 2021 and the fiscal year ended March 31, 2022 are reclassified based on IFRS.

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					(Consolidated)
Consolidated Statement of Financial Position
As of June 30 and March 31, 2022 and Apr 1, 2021
					(Millions of yen)
	As of		As of		As of
Assets	Apr. 1, 2021		Mar. 31, 2022		Jun. 30, 2022
Current assets				78,495
Cash and cash equivalents	122,166	108,511
Trade and other receivables	355,061	409,246	402,350
Contract assets	148,523	109,132	116,785
Inventories	565,860	615,476	661,022
Income taxes receivable	3,482	3,046	5,897
Other financial assets	6,660	10,606	12,575
Other current assets	23,110	64,184	104,881
Total current assets	1,224,865		1,320,204		1,382,008
Non-current assets				446,743
Property, plant and equipment	449,155	444,375
Intangible assets	62,510	61,940	61,602
Right-of-use assets	55,504	58,524	60,109
Investments accounted for using equity method	73,464	70,438	76,988
Other financial assets	69,913	70,752	71,303
Deferred tax assets	106,430	102,209	101,919
Other non-current assets	48,835	46,183	46,192
Total non-current assets	865,814		854,425		864,860
Total assets	2,090,679		2,174,630		2,246,868
Liabilities and equity
Liabilities
Current liabilities				378,096
Trade and other payables	418,070	399,892
Bonds, borrowings and other financial liabilities	266,724	208,773	324,512
Income taxes payable	4,753	8,506	4,117
Contract liabilities	159,476	256,189	270,201
Provisions	26,918	24,409	21,636
Other current liabilities	116,244	161,951	155,467
Total current liabilities	992,187		1,059,723		1,154,032
Non-current liabilities				429,735
Bonds, borrowings and other financial liabilities	478,002	458,068
Retirement benefit liability	115,218	107,024	107,556
Provisions	7,082	4,136	2,691
Deferred tax liabilities	1,038	1,382	994
Other non-current liabilities	17,504	19,403	14,030
Total non-current liabilities	618,847		590,014		555,009
Total liabilities	1,611,034		1,649,738		1,709,041
Equity
Equity attributable to owners of parent				104,484
Share capital	104,484	104,484
Capital surplus	54,542	55,525	55,525
Retained earnings	299,409	320,671	323,272
Treasury shares	(136)	(1,129)	(1,129)
Other components of equity	3,846	25,931	37,647
Total equity attributable to owners of parent	462,146		505,484		519,800
Non-controlling interests	17,498		19,407		18,026
Total equity	479,645		524,891		537,827
Total liabilities and equity	2,090,679		2,174,630		2,246,868

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			(Consolidated)
Consolidated Statement of Profit or Loss
For three months ended June 30, 2022 and 2021
			(Millions of yen)
	Three months ended		Three months ended
Revenue	Jun. 30, 2021		Jun. 30, 2022
355,570		350,344
Cost of sales	291,200	292,972
Gross profit	64,369		57,372
Selling, general and administrative expenses	47,091		53,568
Share of profit (loss) of investments accounted for using equity method	(1,047)	631
Other income	3,060	1,625
Other expenses	740	1,467
Business Profit	18,551		4,593
Finance income	440		7,512
Finance costs	1,928	1,500
Profit before tax	17,063		10,605
Income tax expense	5,160		4,810
Profit	11,902		5,794
Profit attributable to:		5,457
Owners of parent	11,460
Non-controlling interests	442	336
Earnings per share
Basic earnings per share	68.60		32.58

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			(Consolidated)
Consolidated Statement of Comprehensive Income
For three months ended June 30, 2022 and 2021
				(Millions of yen)
	Three months ended		Three months ended
Profit	Jun. 30, 2021			Jun. 30, 2022
11,902		5,794
Other comprehensive income
Items that will not be reclassified to profit or loss		(575)
Financial assets measured at fair value through other comprehensive income	162
Remeasurements of defined benefit plans	44	457
Share of other comprehensive income of investments accounted for using equity method	(1)	(241)
Total of items that will not be reclassified to profit or loss	204			(359)
Items that may be reclassified to profit or loss		(3,041)
Cash flow hedges	(241)
Exchange differences on translation of foreign operations	1,249	12,310
Share of other comprehensive income of investments accounted for using equity method	1,751	4,057
Total of items that may be reclassified to profit or loss	2,759		13,326
Total other comprehensive income	2,964		12,967
Comprehensive income	14,866	18,761
Comprehensive income attributable to:
Owners of parent	14,222	17,869
Non-controlling interests	644		891

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(Consolidated)

Consolidated Statement of Changes in Equity

For three months ended June 30, 2021
				(Millions of yen)
		Equity attributable to owners of parent
	Share capital	Capital surplus	Retained earnings	Treasury shares
Balance as of Apr. 1, 2021	104,484	54,542	299,409	(136)
Profit			11,460
Other comprehensive income
Comprehensive income			11,460
Purchase of treasury shares				(1)
Dividends
Transfer to retained earnings			176
Change in scope of consolidation
Loss of control of subsidiaries
Transfer to non-financial assets
Other			3
Total transactions with owners			180	(1)
Balance as of Jun. 30, 2021	104,484	54,542	311,050	(137)
			Equity attributable to owners of parent
		Other components of equity
		Financial assets		Exchange		Total equity	Non-controlling
	Remeasurements of	measured at fair			Total
	Cash flow hedges	differences on	Total	attributable to	interests
	defined benefit	value through other
	translation of foreign	owners of parent
	plans	comprehensive
		operations
		income
Balance as of Apr. 1, 2021	-	4,025	(179)	-	3,846	462,146	17,498	479,645
Profit						11,460	442	11,902
Other comprehensive income	44	177	(331)	2,871	2,762	2,762	202	2,964
Comprehensive income	44	177	(331)	2,871	2,762	14,222	644	14,866
Purchase of treasury shares						(1)		(1)
Dividends							(376)	(376)
Transfer to retained earnings	(44)	(132)			(176)			-
Change in scope of consolidation
Loss of control of subsidiaries
Transfer to non-financial assets			(142)		(142)	(142)		(142)
Other						3		3
Total transactions with owners	(44)	(132)	(142)		(319)	(140)	(376)	(516)
Balance as of Jun. 30, 2021	-	4,070	(653)	2,871	6,289	476,229	17,766	493,995

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