January 6, 2022
Consolidated Financial Results | |
for the Fiscal Year Ended November 30, 2021 | |
(Japanese Accounting Standards) | |
Name of listed company: | NEXTAGE Co., Ltd. |
Stock Exchange Listings: | Tokyo, Nagoya |
Stock code: | 3186 |
URL: | https://www.nextage.jp/ |
Representative: | Seiji Hirota, President and CEO |
Contact person: | Masashi Nomura |
Executive Officer, General Manager of Administration Division | |
Tel: +81-52-228-6914 |
Scheduled date of General Shareholders' Meeting: | February 22, 2022 |
Scheduled date to file Securities Report: | February 22, 2022 |
Scheduled date to commence dividend payments: | February 24, 2022 |
Supplementary explanatory materials prepared: | Yes |
Explanatory meeting: | Yes (For securities analysts and institutional investors) |
(Millions of yen with fractional amounts discarded, unless otherwise noted.)
1. Consolidated Financial Results for the Fiscal Year Ended November 30, 2021 (From December 1, 2020 to November 30, 2021)
(1) Consolidated Operating Results
(Percentages indicate year-on-year changes.)
Net sales | 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 | % | |||||||
November 30, 2021 | 291,263 | 20.8 | 13,637 | 99.8 | 13,388 | 105.1 | 9,663 | 103.9 | |||||||
November 30, 2020 | 241,146 | 10.0 | 6,825 | 12.2 | 6,527 | 10.8 | 4,740 | 11.3 | |||||||
Reference: Comprehensive | income | ||||||||||||||
For the year ended November 30, 2021: ¥9,667 million, [106.7%] | |||||||||||||||
For the year ended November 30, 2020: ¥4,677 million, [10.2%] | |||||||||||||||
Basic earnings | Diluted earnings | Return on equity | Ordinary profit/ | Operating margin | |||||||||||
per share | per share | (ROE) | Total assets | ||||||||||||
Fiscal year ended | Yen | Yen | % | % | % | ||||||||||
November 30, 2021 | 127.13 | 124.95 | 27.0 | 12.7 | 4.7 | ||||||||||
November 30, 2020 | 63.62 | 60.94 | 16.4 | 7.0 | 2.8 | ||||||||||
(2) Consolidated Financial Position | |||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | |||||||||||
November 30, 2021 | 111,032 | 41,617 | 37.5 | 541.91 | |||||||||||
November 30, 2020 | 99,633 | 30,017 | 30.1 | 406.96 |
Reference: NEXTAGE shareholders' equity
As of November 30, 2021: ¥41,617 million
As of November 30, 2020: ¥30,013 million
(3) Consolidated Cash Flows
Net cash provided by | Net cash used in | Net cash provided by | Cash and | |
cash equivalents at | ||||
operating activities | investing activities | financing activities | ||
end of the fiscal year | ||||
Fiscal year ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
November 30, 2021 | 3,214 | (8,256) | 317 | 22,718 |
November 30, 2020 | 19,269 | (8,529) | 5,673 | 27,443 |
2. Cash Dividends
Annual dividends per share | Total amount of | Payout ratio | Dividends on net | |||||
dividends | assets | |||||||
(consolidated) | ||||||||
First | Second | Third | Fiscal | Annual | (annual) | (consolidated) | ||
quarter | quarter | quarter | year-end | |||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Fiscal year ended | - | 0.00 | - | 7.00 | 7.00 | 527 | 11.0 | 1.8 |
November 30, 2020 | ||||||||
Fiscal year ended | - | 0.00 | - | 15.00 | 15.00 | 1,171 | 11.8 | 3.2 |
November 30, 2021 | ||||||||
Fiscal year ending | - | 0.00 | - | 21.00 | 21.00 | - | ||
November 30, 2022 | ||||||||
(forecasts) | ||||||||
3. Consolidated Financial Forecasts for the Fiscal Year Ending November 30, 2022 (From December 1, 2021 to November 30, 2022)
(Percentages indicate year-on-year changes.)
Profit attributable | Basic earnings | ||||||||||
Net sales | Operating profit | Ordinary profit | to owners of | ||||||||
per share | |||||||||||
parent | |||||||||||
Millions | % | Millions | % | Millions | % | Millions | % | Yen | |||
of yen | of yen | of yen | of yen | ||||||||
Six months ending | |||||||||||
166,000 | 19.2 | 8,400 | 32.4 | 8,200 | 32.2 | 5,700 | 30.5 | 74.22 | |||
May 31, 2022 | |||||||||||
Fiscal year ending | 350,000 | 20.2 | 17,500 | 28.3 | 17,200 | 28.5 | 12,000 | 24.2 | 156.26 | ||
November 30, 2022 | |||||||||||
Notes:
-
Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a change in the scope of consolidation): None
New: None
Excluded: None - Changes in accounting policies, changes in accounting estimates, and restatement of revisions
- Changes in accounting policies due to revisions to accounting standards and other guidelines: None
- Changes in accounting policies due to reasons other than a. above: None
- Changes in accounting estimates: None
- Restatement of revisions: None
- Number of common shares issued
- Total number of issued shares at the end of the period (including treasury stock)
As of November 30, 2021 | 80,136,800 shares | |
As of November 30, 2020 | 77,360,000 shares | |
b. Number of shares of treasury stock at the end of the period | ||
As of November 30, 2021 | 3,339,571 shares | |
As of November 30, 2020 | 3,608,571 shares | |
c. Average number of shares | ||
For the year ended November 30, 2021 | 76,013,279 shares | |
For the year ended November 30, 2020 | 74,511,225 shares |
(Note) The Company introduced a trust-type employee stock ownership incentive plan (E-Ship) in October 2020. The number of shares of treasury stock at the end of the period includes the following number of shares of the Company held by the NEXTAGE Employee Stock Ownership Trust Account, a dedicated account for E-Ship set up with a trust bank.
As of November 30, 2021 | 1,322,700 shares |
In calculation of the average number of shares, the number of shares of treasury stock deducted from the number of common shares issued includes the following number of shares of the Company owned by the above mentioned
account. | |
For the year ended November 30, 2021 | 1,448,892 shares |
(Reference) Summary of Non-Consolidated Operating Results
1. Non-Consolidated Financial Results for the Fiscal Year Ended November 30, 2021 (From December 1, 2020 to November 30, 2021)
(1) Non-Consolidated Operating Results
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit | ||||||||
Fiscal year ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
November 30, 2021 | 281,863 | 21.0 | 13,182 | 101.9 | 12,956 | 100.5 | 9,396 | 101.7 | |||
November 30, 2020 | 232,876 | 10.5 | 6,530 | 14.5 | 6,461 | 13.1 | 4,659 | 12.6 | |||
Basic earnings | Diluted earnings | ||||||||||
per share | per share | ||||||||||
Fiscal year ended | Yen | Yen | |||||||||
November 30, 2021 | 123.62 | 121.50 | |||||||||
November 30, 2020 | 62.54 | 59.90 | |||||||||
(2) Non-Consolidated Financial Position | |||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||
As of | Millions of yen | Millions of yen | % | Yen | |||||||
November 30, 2021 | 106,896 | 41,242 | 38.6 | 537.03 | |||||||
November 30, 2020 | 95,225 | 29,910 | 31.4 | 405.51 |
Reference: NEXTAGE shareholders' equity
As of November 30, 2021: ¥41,242 million
As of November 30, 2020: ¥29,906 million
2. Non-Consolidated Financial Forecasts for the Fiscal Year Ending November 30, 2022 (From December 1, 2021 to November 30, 2022)
(Percentages indicate year-on-year changes.)
Net sales | Ordinary profit | Profit | Basic earnings | |||||
per share | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Six months ending | 160,000 | 18.9 | 7,900 | 30.5 | 5,500 | 28.0 | 71.62 | |
May 31, 2022 | ||||||||
Fiscal year ending | 336,000 | 19.2 | 16,500 | 27.3 | 11,500 | 22.4 | 149.75 | |
November 30, 2022 | ||||||||
- This report is not subject to audit by certified public accountants or audit firms.
-
Proper use of financial forecasts, and other special matters
Financial forecasts and other statements about the future that are included in this material are based on information currently in the possession of the Company and certain conditions judged reasonable by the Company. Actual results may differ significantly due to various factors. For notes on the conditions for financial forecasts and the use of financial forecasts, please refer to "Analysis of Operating Results" beginning on page 2 of the attached documentation.
Attachment Contents
1. Overview of Operating Results, etc.……………….…………………………………………………….….. 2
- Analysis of Operating Results.………………….…….……………………………………………..…....... 2
- Analysis of Financial Position…………………….…….………………………………………….............. 4
(3) Basic Policy on Distribution of Profits and Dividends for Fiscal 2021 and Fiscal 2022……....................... | 5 |
2. Management Policies…………………………………………………….….....…....…....…....…....…...…........ 6
- Basic Management Policies of the Company…………………………………….....….....….....….....…..... 6
(2) Key Performance Indicators….……………………………….…………………………...….…….……… | 6 |
(3) Medium- to Long-Term Management Strategies of the Company………….……….................................... | 7 |
(4) Key Priorities Ahead….........…………………………………………..…………………………..…....….. | 8 |
3. Basic Stance on the Selection of Accounting Standards……………………………………….……....….......... | 8 |
4. Consolidated Financial Statements and Primary Notes……………………………………….……....…........... | 9 |
(1) Consolidated Balance Sheets……………………………………………………….…….…….….….….… | 9 |
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income…...….….… | 11 |
(3) Consolidated Statements of Changes in Equity………………………………………………….…….…… | 13 |
(4) Consolidated Statements of Cash Flows………………………………………………….……...……….… | 15 |
(5) Notes to the Consolidated Financial Statements………………………………………….……...…….…… | 16 |
Uncertainties of entity's ability to continue as going concern…………………………………………….… | 16 |
Significant accounting policies for preparation of consolidated financial statements…………………….... | 16 |
Segment information, etc. ……………………………………………………………………………….….. | 18 |
Per-share information……………………………………………………………………………..….……… | 19 |
Significant events after reporting period……………………………………………………………………. | 19 |
1
1. Overview of Operating Results, etc.
(1) Analysis of Operating Results
In fiscal 2021, the year ended November 30, 2021, the Japanese economy is expected to recover as a result of various government policies and improvements in the overseas economy, while socio-economic activities are starting to normalize. However, attention must be paid to trends in the novel coronavirus infection (COVID-19) in Japan and overseas, as well as the impact of volatility in global financial and capital markets.
In this environment, in the Japanese used car sales industry, domestic used car registrations from December 2020 through November 2021 were 6,288,062 vehicles (down 1.0% year on year). By vehicle type, used car registrations were 3,269,473 vehicles (down 1.6% year on year) for ordinary passenger cars and 3,018,589 vehicles (down 0.4% year on year) for kei-cars for the same period. (Source: statistical data from the Japan Automobile Dealers Association and Japan Light Motor Vehicle and Motorcycle Association.)
In this business environment, based on the management philosophy of "Be loved by Customers," the NEXTAGE Group has operated stores with "Lifetime value" and the number of customers under management ("managed customers"), which means the number of users who have had a transaction with us within the past three years, in mind.
In dealership openings, the Group opened Miyazaki-Kita Store, which is the first in Miyazaki Prefecture, Nisshin-Ekimae Store in Aichi Prefecture, and Kochi Store, which is the first in Kochi Prefecture, in April 2021, Makuhari Store in Chiba Prefecture in May 2021, Oita Store in Oita Prefecture and Morioka Store, which is the first in Iwate Prefecture, in July 2021, Ota Store in Gunma Prefecture and Niiza Store in Saitama Prefecture in September 2021, and Sapporo Teine Store in Hokkaido in November 2021, all as general stores.
The Group also opened Ichinomiya-Subaru Specialist Store in April 2021, UNIVERSE Chiba-Kita in May 2021, and Hiroshima Aki Store in November 2021 as specialist stores. In addition, the Group opened 10 vehicle purchasing specialist stores as storefront additions to existing dealerships, as well as Iwaki Store, Nagakute-Green Road Store, Hamamatsu Store, Akishima Store, Saitama-Chuo Store, Ishioka Store, Katsushika Store, Hiroshima Misasa Store, Ikebukuro Store, Kyoto Yawata Store, Nara Store, Kashihara Store, Hachioji Store, Setagaya Store, and Hirosaki Store, all as vehicle purchasing stores in a standalone format. With regard to authorized imported car dealerships, the Group opened Volkswagen Osaka Hirakata as an authorized dealership for Volkswagen.
As a result, for fiscal 2021, the Group posted net sales of ¥291,263 million (up 20.8% year on year), operating profit of ¥13,637 million (up 99.8% year on year), ordinary profit of ¥13,388 million (up 105.1% year on year), and profit attributable to owners of parent of ¥9,663 million (up 103.9% year on year).
Used car dealership business
In the used car dealership business, the store count as of November 30, 2021 was 103 dealership bases (comprising 159 storefronts). New store openings consisted of 4 dealership bases (4 storefronts) in the Hokkaido-Tohoku region, 10 dealership bases (11 storefronts) in the Kanto-Koshinetsu region, 4 dealership bases (4 storefronts) in the Tokai-Hokuriku region, 3 dealership bases (3 storefronts) in the Kansai region, 3 dealership bases (3 storefronts) in the Chugoku-Shikoku region, and 2 dealership bases (2 storefronts) in the Kyushu-Okinawa region. In addition, the Group opened 10 vehicle purchasing specialist stores as storefront additions.
New car dealership business
In the new car dealership business, the store count as of November 30, 2021 was 21 dealership bases (comprising 23 storefronts). New store opening consisted of 1 dealership base (1 storefront) in the Kansai region.
As a result, the store count as of November 30, 2021 was 124 dealership bases (comprising 182 storefronts).
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Nextage Co. Ltd. published this content on 06 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2022 06:17:10 UTC.