Kewpie : Summary of Consolidated Financial Statements for the First Quarter of the Fiscal Year Ending November 30, 2022(388KB)

Summary of Consolidated Financial Statements for the First Quarter of the Fiscal Year Ending November 30, 2022

[JAPAN GAAP]

April 8, 2022

Listed company name:	Kewpie Corporation
Listed exchange:	Tokyo Stock Exchange
Securities code:	2809
URL:	https://www.kewpie.com/en/
Representative:	Mitsuru Takamiya,
Representative Director, President and Chief Executive Corporate Officer
Contact:	Takeshi Kitagawa,
Senior General Manager of Management Promotion Division

Scheduled date for filing quarterly securities report: April 14, 2022 Scheduled date for dividend payment: -

Quarterly supplementary data: Yes Quarterly results briefing: None

(Amounts are rounded down to the nearest million yen.)

1. Consolidated business results for the first quarter of the fiscal year ending November 30, 2022

(From December 1, 2021 to February 28, 2022)

(1) Consolidated operating results (Cumulative)

(Percentage figures show changes from the same period of the previous year.)

Net sales	Operating income	Ordinary income	Profit attributable to owners of parent
Three months ended February 28, 2022 Three months ended February 28, 2021	Millions of yen 100,536 94,088	% 6.9 (29.3)	Millions of yen 6,732 6,324	% 6.5 23.9	Millions of yen 7,151 6,605	% 8.3 25.0	Millions of yen 4,455 4,521	% (1.5) 76.9

(Note) Comprehensive income:

Three months ended February 28, 2022

Three months ended February 28, 2021

Earnings per share	Earnings per share (diluted)
Three months ended February 28, 2022 Three months ended February 28, 2021	Yen 32.05 31.70	Yen - -

¥6,752 million (Increase of 10.6%) ¥6,103 million (Increase of 111.9%)

(Note) During the fiscal year ended November 30, 2021, the Company finalized the provisional accounting treatment for business combinations. As a result, figures for the three months ended February 28, 2021 reflect the finalization of the provisional accounting treatment.

(2) Consolidated financial position

Total assets	Net assets	Equity ratio
As of February 28, 2022 As of November 30, 2021	Millions of yen 369,542 381,003	Millions of yen 272,344 269,301	% 67.1 64.5

(Reference) Shareholders' equity:	As of February 28, 2022	¥247,786 million
As of November 30, 2021	¥245,640 million

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2. Dividends

Annual dividend per share
End of 1st quarter	End of 2nd quarter	End of 3rd quarter	Year-end	Total
Fiscal year 2021 Fiscal year 2022	Yen - -	Yen 20.00	Yen -	Yen 27.00	Yen 47.00
Fiscal year 2022 (Forecast)	20.00	-	27.00	47.00

(Note) Revision to the most recently announced forecast of dividends: None

3. Forecasts of consolidated operating results for the fiscal year ending November 30, 2022

(From December 1, 2021 to November 30, 2022)

(Percentage figures show changes from the previous year.)

Net sales	Operating income	Ordinary income	Profit attributable to owners of parent	Earnings per share
Year ending November 30, 2022	Millions of yen 415,000	% 2.0	Millions of yen 26,000	% (7.0)	Millions of yen 27,700	% (6.7)	Millions of yen 15,700	% (12.8)	Yen 112.95

(Note) Revision to the most recently announced forecast of consolidated operating results: None

*Notes

• (1) Changes in significant subsidiaries during the three months (Changes in specified subsidiaries resulting in the change in the scope of consolidation): None

• (2) Application of special accounting treatments for the preparation of quarterly consolidated financial statements: None

• (3) Changes in accounting policies and estimates, and restatements

  • a) Changes in accounting policies due to revision of accounting standards: Yes

  • b) Changes in accounting policies due to reasons other than "a)" (above): None

  • c) Changes in accounting estimates: None

  • d) Restatements: None

• (4) Number of issued shares (common stock)

  a) Number of issued shares at the end of the period (including treasury stock):

February 28, 2022

November 30, 2021

141,500,000 shares 141,500,000 sharesb) Number of shares of treasury stock at the end of the period:February 28, 2022

November 30, 2021

2,495,455 shares 2,495,090 sharesc) Average number of shares during the period (cumulative from the beginning of the fiscal year):December 1, 2021 to February 28, 2022

December 1, 2020 to February 28, 2021

139,004,737 shares 142,635,869 shares

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*The summary of quarterly consolidated financial statements is outside the scope of quarterly review procedures by certified public accountants or an audit corporation.

*Statement for an appropriate usage of the forecasts of operating results and other special notes

The forecasts and other forward looking statements contained in this summary are based on the information currently available to the Company and certain assumptions considered reasonable by the Company. Therefore, they are not guaranteed to be achieved by the Company. As a result, the forecasts of operating results may differ significantly from the actual operating results due to various factors.

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Table of contents

l.

Quarterly consolidated financial statements and major notes ................................................................... 2

• 1. Quarterly Consolidated Balance Sheets .................................................................................................... 2

• 2. Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive

  Income ....................................................................................................................................................... 4

  (Quarterly Consolidated Statements of Income) (Three months ended February 28, 2021 and February 28,

  2022) .......................................................................................................................................................... 4

  (Quarterly Consolidated Statements of Comprehensive Income) (Three months ended February 28, 2021

  and February 28, 2022) .............................................................................................................................. 5

• 3. Notes Regarding Quarterly Consolidated Financial Statements ................................................................ 6

  (Notes regarding assumption of a going concern) ..................................................................................... 6

  (Notes regarding the significant changes in the amount of shareholders' equity) ...................................... 6

  (Changes in accounting policies) ............................................................................................................... 6

  (Business combination) .............................................................................................................................. 7

  (Segment information) ................................................................................................................................ 8

l. Quarterly consolidated financial statements and major notes 1. Quarterly Consolidated Balance Sheets

(Millions of yen)

Total current assets

157,451 146,065

Accumulated depreciation

(93,161) (93,260)

Machinery, equipment and vehicles

149,308 149,352

Net book value

42,411 41,772

Accumulated depreciation

(12,054) (12,156)

Total tangible fixed assets

146,532 145,290

Total intangible fixed assets

13,303 13,752

Total investments and other assets

63,715 64,433

Previous fiscal year	Current first quarter
(As of November 30, 2021)	(As of February 28, 2022)
Assets
Current assets
Cash and deposits	58,343	47,839
Notes and accounts receivable - trade	56,875	54,377
Securities	10,000	10,000
Purchased goods and products	18,277	18,608
Work in process	1,369	1,091
Raw materials and supplies	10,419	11,360
Other	2,303	2,901
Allowances for doubtful accounts	(137)	(114)
Fixed assets
Tangible fixed assets
Buildings and structures	157,939	157,557
Net book value	64,777	64,297
Accumulated depreciation	(106,897)	(107,580)
Land	30,850	30,868
Construction in progress	2,488	2,464
Other	18,060	18,044
Net book value	6,005	5,888
Intangible fixed assets
Goodwill	552	502
Other	12,751	13,250
Investments and other assets
Investment securities	43,629	43,556
Assets for retirement benefits	11,128	11,797
Other	9,078	9,199
Allowances for doubtful accounts	(120)	(119)
Total fixed assets	223,552	223,477

Total assets

381,003

369,542