Kotobuki Spirits : FY2021 (Year ended March 31, 2021) Financial results supplementary material

FY2021 (Year ended March 31, 2021) Financial results supplementary material

Kotobuki Spirits Co.,Ltd.

☆ Highlights

		FY2017	FY2018	FY2019	FY2020	FY2021
		for the Year ended	for the Year ended	for the Year ended	for the Year ended	for the Year ended
		March 31, 2017	March 31, 2018	March 31, 2019	March 31, 2020	March 31, 2021
Consolidated results
Net sales	Millions of Yen	32,536	37,385	40,769	45,181	23,205
Sales growth rate	％	22.3	14.9	9.1	10.8	△ 48.6
Gross profit rate	％	56.0	56.9	58.6	59.1	50.2
Operating profit	Millions of Yen	3,847	5,012	5,976	6,455	△ 2,890
Ordinary profit	Millions of Yen	3,898	5,049	6,012	6,475	△ 322
Net profit	Millions of Yen	2,572	3,534	3,972	4,100	△ 570
EPS	Yen	82.66	113.56	127.64	131.76	△ 18.30
PER		33.11	49.31	33.22	36.92	△ 392.9
ROE	％	21.9	25.1	23.5	20.8	△ 2.8
ROA	％	20.8	24.2	24.9	24.5	△ 1.2
Ordinary profit rate	％	12.0	13.5	14.7	14.3	△ 1.4
Total assets	Millions of Yen	19,500	22,277	25,954	26,814	25,052
Net assets	Millions of Yen	12,734	15,472	18,294	21,165	19,342
BPS	Yen	409.20	497.16	587.87	680.11	621.53
PBR		6.69	11.26	7.21	7.15	11.57
Equity-to-asset rate	％	65.3	69.5	70.5	78.9	77.2

Statements of cash flows

Cash flows from operating activities	Millions of Yen
Cash flows from investing activities	Millions of Yen
Cash flows from financing activities	Millions of Yen
Cash and cash equivalents	Millions of Yen

3,071	4,158	4,697	6,578	83
△ 967	△ 1,853	△ 2,434	△ 2,446	△ 605
△ 1,809	△ 1,108	△ 1,352	△ 1,500	△ 463
3,551	4,749	5,660	8,291	7,309

Other
Interest-bearing debt	Millions of Yen	1,011	693	433	180	966
CAPEX	Millions of Yen	1,472	1,948	2,185	2,041	540
Depreciation	Millions of Yen	879	1,049	1,234	1,459	1,420
Employees	People	1,227	1,339	1,433	1,520	1,583
Temporary worker	People	883	1,012	1,112	1,247	886
Dividend/stock	Yen	25.00	35.00	40.00	40.00	30.00
Payout rate	％	30.2	30.8	31.3	30.4	-
Number of shares issued(March 31)	shares	31,121,520	31,121,520	31,121,520	31,121,520	31,121,520
Treasury Shares(March 31)	shares	1,625	1,798	1,863	1,905	2,164
Number of shares(Average during the period)	shares	31,119,906	31,119,842	31,119,688	31,119,638	31,119,517
Stock price (March 31)	Yen	2,737	5,600	4,240	4,865	7,190

1

• Consolidated Business Results

FY2021(1Q-4Q)	Segments Business Results（Comparison with forecast）
		Net sales	Gross profit	Gross profit rate	SG&A	Operating profit
		expenses
		Millions of Yen	Millions of Yen	％	Millions of Yen	Millions of Yen
	FY2021(1Q-4Q)	7,627	4,198	55.0	5,128	△ 930
Sucrey	forecast	7,286	3,775	51.8	4,939	△ 1,164
	Change from the	341	423	3.2	189	234
	forecast
	FY2021(1Q-4Q)	8,177	4,806	58.8	5,123	△ 317
KCC	forecast	8,201	4,583	55.9	5,200	△ 617
Change from the	△ 24	223	2.9	△ 77	300
	forecast
	FY2021(1Q-4Q)	4,935	969	19.6	1,829	△ 860
Kotobukiseika	forecast	5,002	1,062	21.2	1,929	△ 867
Tajimakotobuki	Change from the	△ 67	△ 93	△ 1.6	△ 100	7
	forecast
	FY2021(1Q-4Q)	2,139	625	29.2	1,191	△ 566
Sales Subsidiaries	forecast	2,444	765	31.3	1,234	△ 469
Change from the	△ 305	△ 140	△ 2.1	△ 43	△ 97
	forecast
	FY2021(1Q-4Q)	2,047	650	31.8	1,300	△ 649
Kujyukushima Group	forecast	1,983	610	30.8	1,303	△ 693
Change from the	64	40	1.0	△ 3	44
	forecast
	FY2021(1Q-4Q)	539	383	71.1	356	27
Others	forecast	508	349	68.7	341	8
Change from the	31	34	2.4	15	19
	forecast
	FY2021(1Q-4Q)	25,464	11,632	45.7	14,927	△ 3,295
Segments Total	forecast	25,424	11,144	43.8	14,946	△ 3,802
Change from the	40	488	1.8	△ 19	507
	forecast
	FY2021(1Q-4Q)	△ 2,259	9	-	△ 396	405
(Reconciling items）	forecast	△ 2,284	△ 44	-	△ 446	402
Change from the	25	53	-	50	3
	forecast
	FY2021(1Q-4Q)	23,205	11,640	50.2	14,531	△ 2,890
Total	forecast	23,140	11,100	48.0	14,500	△ 3,400
Change from the	65	540	2.2	31	510
	forecast

2

• Consolidated Business Results

FY2021(1Q-4Q)	Segments Business Results（YonY）
		Net sales	Gross profit	Gross profit rate	SG&A	Operating profit
		expenses
		Millions of Yen	Millions of Yen	％	Millions of Yen	Millions of Yen
Sucrey	FY2021(1Q-4Q)	7,627	4,198	55.0	5,128	△ 930
FY2020(1Q-4Q)	16,199	9,893	61.1	7,834	2,059
	YoY (Change)	△ 8,572	△ 5,695	△ 6.0	△ 2,706	△ 2,989
	FY2021(1Q-4Q)	8,177	4,806	58.8	5,123	△ 317
KCC
FY2020(1Q-4Q)	12,700	7,758	61.1	6,466	1,292
	YoY (Change)	△ 4,523	△ 2,952	△ 2.3	△ 1,343	△ 1,609
Kotobukiseika	FY2021(1Q-4Q)	4,935	969	19.6	1,829	△ 860
FY2020(1Q-4Q)	10,572	4,199	39.7	2,847	1,352
Tajimakotobuki
YoY (Change)	△ 5,637	△ 3,229	△ 20.1	△ 1,017	△ 2,212
	FY2021(1Q-4Q)	2,139	625	29.2	1,191	△ 566
Sales Subsidiaries
FY2020(1Q-4Q)	6,176	2,224	36.0	1,700	523
	YoY (Change)	△ 4,037	△ 1,599	△ 6.8	△ 509	△ 1,090
	FY2021(1Q-4Q)	2,047	650	31.8	1,300	△ 649
Kujyukushima Group
FY2020(1Q-4Q)	4,522	2,127	47.0	1,753	374
	YoY (Change)	△ 2,475	△ 1,477	△ 15.3	△ 453	△ 1,023
	FY2021(1Q-4Q)	539	383	71.1	356	27
Others
FY2020(1Q-4Q)	812	529	65.1	706	△ 177
	YoY (Change)	△ 273	△ 146	5.9	△ 350	204
	FY2021(1Q-4Q)	25,464	11,632	45.7	14,927	△ 3,295
Segments Total	FY2020(1Q-4Q)	50,980	26,729	52.4	21,306	5,423
	YoY (Change)	△ 25,517	△ 15,097	△ 6.8	△ 6,379	△ 8,718
	FY2021(1Q-4Q)	△ 2,259	9	-	△ 396	405
(Reconciling items）
FY2020(1Q-4Q)	△ 5,800	△ 27	-	△ 1,058	1,032
	YoY (Change)	3,541	35	-	662	△ 627
	FY2021(1Q-4Q)	23,205	11,640	50.2	14,531	△ 2,890
Total	FY2020(1Q-4Q)	45,181	26,702	59.1	20,248	6,455
	YoY (Change)	△ 21,976	△ 15,062	△ 8.9	△ 5,717	△ 9,345

3

• Consolidated Business Results

FY2021(1Q-4Q) Segments sales（YonY）

			FY2020	FY2021	YoY (Change)	YoY (%)
			(1Q-4Q)	(1Q-4Q)
	Wholesale		Millions of Yen	Millions of Yen	Millions of Yen	％
		Wholesale	4,666	1,196	△ 3,469	△ 74.4
		Wholesale（Overseas）	437	319	△ 118	△ 27.1
		Wholesale Total	5,103	1,515	△ 3,588	△ 70.3
	Retail
Sucrey		Shops	7,273	3,779	△ 3,493	△ 48.0
	Pop Up	3,150	1,515	△ 1,634	△ 51.9
		Mail order	356	647	292	82.0
		RetailTotal	10,778	5,942	△ 4,836	△ 44.9
	Internal sales	318	169	△ 148	△ 46.7
	Total	16,199	7,627	△ 8,572	△ 52.9
	Wholesale
		Wholesale	3,129	797	△ 2,332	△ 74.5
		Wholesale（Overseas）	431	753	321	74.5
		Wholesale Total	3,561	1,550	△ 2,011	△ 56.5
	Retail
KCC		Shops(LeTAO)	4,146	1,761	△ 2,384	△ 57.5
	Shops(Other Brands)	489	535	46	9.3
		Pop Up	1,857	1,001	△ 857	△ 46.1
		Mail order	2,246	3,140	895	39.8
		Retail Total	8,738	6,437	△ 2,301	△ 26.3
	Internal sales	401	189	△ 212	△ 52.8
	Total	12,700	8,177	△ 4,523	△ 35.6
	Kotobukiseika Agent	4,579	2,297	△ 2,282	△ 49.8
		Sanin area	1,662	780	△ 882	△ 53.1
Kotobukiseika		Kotobuki castle	811	338	△ 473	△ 58.4
Tajimakotobuki	Tajimakotobuki Yumura area・EC	253	212	△ 41	△ 16.2
	Internal sales	3,267	1,309	△ 1,958	△ 59.9
	Total	10,572	4,935	△ 5,637	△ 53.3
	Tokai area	1,803	663	△ 1,140	△ 63.2
	Kansai area	3,036	983	△ 2,054	△ 67.6
Sales Subsidiaries	Chuugoku area・Shikoku area・ Kyushu area	1,316	460	△ 856	△ 65.1
	Internal sales	20	33	14	70.0
	Total	6,176	2,139	△ 4,037	△ 65.4
	Wholesale	1,217	609	△ 608	△ 49.9
Kujyukushima Group	Retail	1,510	881	△ 629	△ 41.7
	Internal sales	1,795	557	△ 1,238	△ 69.0
	Total	4,522	2,047	△ 2,475	△ 54.7
	KSK（Property insurance agency business）	10	11	1	5.1
	Junai（Health food business）	49	63	15	30.4
Others	Taiwan（Confectionery business）	379	429	50	13.3
	Honey Sucrey Limited（Confectionery business）	374	36	△ 339	△ 90.5
	Total	812	539	△ 273	△ 33.6

4