Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
May 10, 2022
Consolidated Financial Results | |
for the Fiscal Year Ended March 31, 2022 | |
(Under Japanese GAAP) | |
Company name: | MITSUI-SOKO HOLDINGS Co., Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 9302 |
URL: | https://www.mitsui-soko.com/en/ |
Representative: | Hirobumi Koga, Representative Director, President & Group CEO |
Inquiries: | Hirobumi Matsui, Executive Officer of Finance and Accounting |
Telephone: | +81-3-6400-8006 |
Scheduled date of ordinary general meeting of shareholders:
Scheduled date to commence dividend payments:
Scheduled date to file annual securities report:
Preparation of supplementary material on financial results:
Holding of financial results meeting:
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)
(1) Consolidated operating results | (Percentages indicate year-on-year changes.) | ||||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
March 31, 2022 | 301,022 | 18.7 | 25,939 | 46.9 | 25,553 | 48.2 | 14,503 | 25.6 | |
March 31, 2021 | 253,559 | 5.2 | 17,661 | 49.6 | 17,240 | 63.7 | 11,549 | 80.6 |
Note: Comprehensive income | For the fiscal year ended March 31, 2022: | ¥22,467 million | (43.7%) | |||||
For the fiscal year ended March 31, 2021: | ¥15,635 million (373.5%) | |||||||
Basic earnings per | Diluted earnings | Ratio of ordinary | Ratio of operating | |||||
Return on equity | profit to total | profit to operating | ||||||
share | per share | |||||||
assets | revenue | |||||||
Fiscal year ended | Yen | Yen | % | % | % | |||
March 31, 2022 | 583.98 | - | 20.4 | 10.3 | 8.6 | |||
March 31, 2021 | 465.01 | - | 20.5 | 7.2 | 7.0 | |||
Reference: Share of profit (loss) of entities accounted for using equity method | ||||||||
For the fiscal year ended March 31, 2022: | ¥271 million | |||||||
For the fiscal year ended March 31, 2021: | ¥148 million |
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | |
As of | Millions of yen | Millions of yen | % | Yen |
March 31, 2022 | 258,297 | 88,631 | 30.8 | 3,199.28 |
March 31, 2021 | 238,371 | 68,529 | 26.3 | 2,524.44 |
Reference: Equity capital | |
As of March 31, 2022: | ¥79,458 million |
As of March 31, 2021: | ¥62,697 million |
(3) Consolidated cash flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |
equivalents at end of | ||||
operating activities | investing activities | financing activities | ||
period | ||||
Fiscal year ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
March 31, 2022 | 23,123 | (7,049) | (17,218) | 22,822 |
March 31, 2021 | 21,257 | 803 | (21,683) | 22,718 |
2. Cash dividends
Annual dividends per share | Payout | Ratio of | ||||||
Total | dividends | |||||||
ratio | to net | |||||||
First quarter- | Second | Third | Fiscal year- | dividends | ||||
Total | (Consoli- | assets | ||||||
end | quarter-end | quarter-end | end | (Total) | ||||
dated) | (Consoli- | |||||||
dated) | ||||||||
Yen | Yen | Yen | Yen | Yen | Millions of | % | % | |
yen | ||||||||
Fiscal year | ||||||||
ended | - | 25.00 | - | 30.00 | 55.00 | 1,365 | 11.8 | 2.4 |
March 31, 2021 | ||||||||
Fiscal year | ||||||||
ended | - | 35.00 | - | 94.00 | 129.00 | 3,203 | 22.1 | 4.5 |
March 31, 2022 | ||||||||
Fiscal year | ||||||||
ending | - | 72.00 | - | 72.00 | 144.00 | 30.3 | ||
March 31, 2023 | ||||||||
(Forecast) | ||||||||
- The amount of year-end dividend per share for the fiscal year ended March 31, 2022 has been changed from ¥35 to ¥94.
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)
(Percentages indicate year-on-year changes.)
Profit attributable to | Basic | ||||||||
Operating revenue | Operating profit | Ordinary profit | earnings per | ||||||
owners of parent | |||||||||
share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending | |||||||||
September 30, | 147,000 | 5.0 | 11,000 | (5.5) | 10,800 | (7.9) | 6,300 | (6.5) | 253.66 |
2022 | |||||||||
Fiscal year ending | 290,000 | (3.7) | 21,000 | (19.0) | 20,300 | (20.6) | 11,800 | (18.6) | 475.11 |
March 31, 2023 | |||||||||
4. Non-consolidated earnings forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)
(Percentages indicate year-on-year changes.)
Basic | |||||||||
Operating revenue | Operating profit | Ordinary profit | Profit | earnings per | |||||
share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending | |||||||||
September 30, | 11,500 | (3.1) | 4,100 | (18.4) | 3,900 | (18.7) | 4,000 | (11.6) | 161.05 |
2022 | |||||||||
Fiscal year ending | 20,300 | (3.0) | 5,100 | (25.7) | 4,600 | (24.6) | 4,600 | (18.5) | 185.21 |
March 31, 2023 | |||||||||
* Notes
-
Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
Newly included: -
Excluded: - - Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- For details, please refer to "Changes in accounting policies" of "(5) Notes to consolidated financial statements" under "5. Consolidated financial statements and significant notes thereto" on page 20 of the attached materials.
- Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022 | 24,883,002 shares |
As of March 31, 2021 | 24,883,002 shares |
b. Number of treasury shares at the end of the period
As of March 31, 2022 | 46,684 shares |
As of March 31, 2021 | 46,639 shares |
c. Average number of shares outstanding during the period
Fiscal year ended March 31, 2022 | 24,836,324 shares |
Fiscal year ended March 31, 2021 | 24,836,364 shares |
* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
Figures for the forecasts, outlooks, and targets described in this report that are not historical facts are calculated based on the currently available information and uncertain factors that may have an effect on future performance. The actual results may differ from the forecasts. For matters concerning earnings forecasts, please refer to "b. Outlook for the next fiscal year" of "(1) Analysis of operating results" under "1. Overview of operating results and others" on page 2.
MITSUI-SOKO HOLDINGS Co., Ltd. (9302) | |||
Attached Materials | |||
Index | |||
1. Overview of operating results and others ................................................................................................. | 2 | ||
(1) | Analysis of operating results .............................................................................................................. | 2 | |
(2) | Analysis of financial position............................................................................................................. | 3 | |
(3) | Basic policy on profit distribution and cash dividends for the fiscal year under review and the | ||
next fiscal year.................................................................................................................................... | 4 | ||
2. Status of the corporate group .................................................................................................................... | 5 | ||
3. | Management policy................................................................................................................................... | 6 | |
4. Basic concept regarding selection of accounting standards...................................................................... | 7 | ||
5. Consolidated financial statements and significant notes thereto............................................................... | 8 | ||
(1) | Consolidated balance sheet ................................................................................................................ | 8 | |
(2) | Consolidated statement of income and consolidated statement of comprehensive income ............. | 10 | |
Consolidated statement of income.................................................................................................... | 10 | ||
Consolidated statement of comprehensive income .......................................................................... | 12 | ||
(3) | Consolidated statement of changes in equity ................................................................................... | 13 | |
(4) | Consolidated statement of cash flows .............................................................................................. | 15 | |
(5) | Notes to consolidated financial statements....................................................................................... | 17 | |
Notes on premise of going concern .................................................................................................. | 17 | ||
Significant accounting policies for preparation of consolidated financial statements...................... | 17 | ||
Changes in accounting policies ........................................................................................................ | 20 | ||
Changes in presentation.................................................................................................................... | 20 | ||
Consolidated balance sheet .............................................................................................................. | 21 | ||
Consolidated statement of income.................................................................................................... | 22 | ||
Consolidated statement of comprehensive income .......................................................................... | 24 | ||
Consolidated statement of changes in equity ................................................................................... | 24 | ||
Consolidated statement of cash flows .............................................................................................. | 26 | ||
Securities .......................................................................................................................................... | 26 | ||
Real estate for lease, etc. .................................................................................................................. | 27 | ||
Segment information, etc. ................................................................................................................ | 28 | ||
Per share information ....................................................................................................................... | 31 | ||
Significant subsequent events........................................................................................................... | 31 | ||
Introduction of restricted share-basedremuneration plan ............................................................... | 31 | ||
6. | Non-consolidated financial statements ................................................................................................... | 32 | |
(1) | Non-consolidated balance sheet ....................................................................................................... | 32 | |
(2) | Non-consolidated statement of income ............................................................................................ | 34 | |
(3) | Non-consolidated statement of changes in equity ............................................................................ | 35 | |
7. | Others...................................................................................................................................................... | 37 | |
Reference materials on the financial results for the fiscal year ended March 31, 2022.......................... | 37 |
- 1 -
MITSUI-SOKO HOLDINGS Co., Ltd. (9302)
1. Overview of operating results and others
- Analysis of operating results
a. Overview of the fiscal year under review (ⅰ) Overall summary
During the fiscal year under review, the Japanese economy saw a gradual trend towards normalization of social and economic activity with the indices of industrial production showing signs of recovery, despite the protracted impact of COVID-19. Meanwhile, in the environment of the logistics industry, it remained difficult to see an end to the global disruption that has enveloped supply chains, despite a recovering trend in imports and exports from the previous fiscal year.
In this economic environment, in the fiscal year under review, which was the final fiscal year of the "Medium-Term Management Plan 2017," MITSUI-SOKO HOLDINGS Co., Ltd. (the "Company") and its group companies (the "Group") worked to achieve sustainable growth through the construction of overwhelming field capabilities and the construction of end-to-end integrated solution service, and responded to customers' needs to review their supply chains. Through these efforts, the Group achieved significant growth in its earnings, despite the uncertain environment.
The operating situation of the Group included an increase in container handling volume in the freight forwarding and port transportation businesses associated with the recovery in imports and exports. In addition, there was an increase in handling volume driven by a shift from sea transportation to air transportation against the backdrop of a shortage of marine containers, and an increase in the handling volume of air cargo, overseas storage, and transportation services involved in the procurement of components and so forth for maintaining customers' production. As a result, consolidated operating revenue amounted to ¥301,022 million, up ¥47,462 million year on year, consolidated operating profit was ¥25,939 million, up ¥8,278 million, consolidated ordinary profit was ¥25,553 million, up ¥8,312 million, and profit attributable to owners of parent was ¥14,503 million, up ¥2,954 million, setting a new record-high profit for the second year in a row.
(ii) Segment overview
-
Logistics Business
In addition to an increase in container handling volume in the freight forwarding and port transportation businesses associated with the recovery in imports and exports, there was also a shift from sea transportation to air transportation and a steep rise in airfares associated with supply chain disruption including a shortage of marine containers, an increase in handling volume for air cargo, overseas storage, and transportation services involved in the procurement of components for maintaining customers' production. Moreover, in areas the Company is focusing on, the Company saw the start of new projects in the solution-type logistics services and the start of new operations in healthcare logistics. Furthermore, handling volumes in home appliance- related logistics also increased due to the demand related to the Tokyo Olympic and Paralympic Games. As a result, operating revenue amounted to ¥292,213 million, up ¥47,568 million year on year, and operating profit was ¥23,734 million, up ¥8,749 million. - Real Estate Business
Operating revenue amounted to ¥9,574 million, down ¥46 million year on year, and operating profit was ¥5,798 million, down ¥34 million, both of which are nearly unchanged from the level as the previous fiscal year.
-
Logistics Business
- Outlook for the next fiscal year
Under the new five-year plan, Medium-term Management Plan 2022 (from the fiscal year ending March 31, 2023 to the fiscal year ending March 31, 2027), the Group will achieve further growth as it goes on the offensive with aggressive investment beginning from the plan's initial fiscal year ending March 31, 2023.
As for the business environment, extraordinary factors are likely to taper off toward the end of the fiscal year, amid a return to normal with respect to increased air cargo handling volume due to a shift away from sea cargo associated with global supply chain disruption along with surging freight costs
- 2 -
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Mitsui Soko Holdings Co. Ltd. published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 04:41:03 UTC.