Mitsuboshi Belting : Consolidated Financial Results for the Three Months Ended June 30, 2023 (Japanese GAAP)

August 10, 2023

－

No

No

Company name: Stock exchange listing: Securities code:

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Inquiries:

Consolidated Financial Results for the Three Months Ended June 30, 2023 (Japanese GAAP)

August 7, 2023

Mitsuboshi Belting Ltd.

Tokyo

5192

https://www.mitsuboshi.com/

Hiroshi Ikeda, President

Yasushi Shiotsu, General Manager, Finance & Accounting Department

Phone: [phone]

Scheduled date of filing quarterly securities report:

Scheduled date of commence dividend payments:

Preparation of supplementary material on quarterly financial results:

Holding of quarterly financial results meeting:

(Amounts less than one million yen are rounded down)

1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 - June 30, 2023)

(1) Consolidated operating results

(Percentages indicate year-on-year changes)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

△

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

June 30, 2023

20,549

0.2

2,027

5.5

3,246

8.1

2,191

7.2

June 30, 2022

20,600

6.9

2,144

△ 7.4

3,003

14.8

2,043

23.5

△

Note:

Comprehensive income

Three months ended June 30, 2023:

¥7,580 million

(58.3%)

Three months ended June 30, 2022:

¥4,787 million

(134.3%)

Basic earnings

Diluted earnings

per share

per share

Three months ended

Yen

Yen

June 30, 2023

77.29

－

June 30, 2022

71.76

－

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen

％

As of June 30, 2023

127,378

91,494

71.8

As of March 31, 2023

121,682

87,601

72.0

Reference: Equity

As of June 30, 2023:

¥91,494 million

As of March 31, 2023:

¥87,601 million

2. Dividends

Annual dividends per share

1st quarter end

2nd quarter end

3rd quarter end

Fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

－

120.00

－

130.00

250.00

March 31, 2023

Fiscal year ending

－

March 31, 2024

Fiscal year ending

125.00

－

125.00

250.00

March 31, 2024(Forecast)

３. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March 31, 2024)

(Percentages indicate year-on-year changes)

	Net sales			Operating profit		Ordinary profit		Profit attributable to	Basic earnings
					owners of parent	per share
	Millions of yen		△	%	Millions of yen	△	%	Millions of yen	△	%	Millions of yen	△	%	Yen
First half of	42,500		0.2	4,300	6.5	4,400	23.2	3,200	18.4	112.83
fiscal year
84,500		1.9	9,100	0.8	9,300	11.2	7,100	0.4	250.31
Full year									△

Quarterly Consolidated Financial Statements

1. Quarterly Consolidated Balance Sheet

		(Millions of yen)
	As of March 31, 2023	As of June 30, 2023
Assets
Current assets
Cash and deposits	35,307	34,772
Notes and accounts receivable - trade, and	16,657	17,407
contract assets
Merchandise and finished goods	17,395	18,013
Work in process	2,513	2,585
Raw materials and supplies	4,368	4,442
Other	1,188	1,397
Allowance for doubtful accounts	100	104
Total current assets	77,331	78,514
△	△
Non-current assets
Property, plant and equipment
Buildings and structures, net	7,325	7,518
Machinery, equipment and vehicles, net	8,859	9,405
Tools, furniture and fixtures, net	1,993	2,083
Land	3,978	3,995
Leased assets, net	1,503	1,604
Construction in progress	4,738	4,806
Total property, plant and equipment	28,399	29,413
Intangible assets
Software	601	565
Goodwill	130	124
Other	59	59
Total intangible assets	791	748
Investments and other assets
Investment securities	13,591	16,898
Other	1,571	1,811
Allowance for doubtful accounts	8	8
Total investments and other assets	15,160	18,701
△	△
Total non-current assets	44,351	48,863
Total assets	121,682	127,378

			(Millions of yen)
	As of March 31, 2023		As of June 30, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade	9,889	9,291
Short-term borrowings	4,229	3,978
Income taxes payable		201	909
Provision for bonuses		974	1,604
Provision for product warranties		477	489
Other	6,089	6,363
Total current liabilities	21,862	22,636
Non-current liabilities
Long-term borrowings	4,000	3,750
Retirement benefit liability	1,948	2,122
Provision for retirement benefits for directors		16	16
(and other officers)
Other	6,254	7,357
Total non-current liabilities	12,219	13,246
Total liabilities	34,081	35,883
Net assets
Shareholders' equity
Share capital	8,150	8,150
Capital surplus	2,143	2,143
Retained earnings	70,818	69,324
Treasury shares		,559	7,560
Total shareholders' equity	73,552	72,057
△7		△
Accumulated other comprehensive income
Valuation difference on available-for-sale	8,310	10,600
securities
Foreign currency translation adjustment	5,785	8,880
Remeasurements of defined benefit plans	14,048△48	19,437△43
Total accumulated other comprehensive
income
Total net assets	87,601	91,494
Total liabilities and net assets	121,682	127,378

2. Quarterly Consolidated Statement of Income and Comprehensive Income Quarterly Consolidated Statement of Income

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2022	June 30, 2023
Net sales	20,600	20,549
Cost of sales	14,115	14,224
Gross profit	6,484	6,324
Selling, general and administrative expenses	4,339	4,297
Operating profit	2,144	2,027
Non-operating income
Interest income	29	86
Dividend income	222	249
Foreign exchange gains	677	697
Other	68	247
Total non-operating income	998	1,282
Non-operating expenses
Interest expenses	11	16
Loss on retirement of non-current assets	102	29
Other	25	17
Total non-operating expenses	139	62
Ordinary profit	3,003	3,246
Profit before income taxes	3,003	3,246
Income taxes	959	1,055
Profit	2,043	2,191
Profit attributable to owners of parent	2,043	2,191

Quarterly Consolidated Statement of Comprehensive Income

	(Millions of yen)
Three months ended	Three months ended
June 30, 2022	June 30, 2023

Profit

Other comprehensive income

Valuation difference on available-for-sale securities

Foreign currency translation adjustment Remeasurements of defined benefit plans, net of tax

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

Comprehensive income attributable to non- controlling interests

2,043	2,191
△500	2,289
3,311	3,094
67	4
△
2,743	5,388
4,787	7,580
4,787	7,580
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