Income Statement Nichia Steel Works, Ltd.

Equities

5658

JP3660000005

Iron & Steel

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-09-13 am EDT			5-day change	1st Jan Change
290.00 ^JPY	-2.03%		-3.01%	-9.09%

Jul. 03	Tranche Update on Nichia Steel Works, Ltd.'s Equity Buyback Plan announced on May 14, 2024.	CI
May. 14	Nichia Steel Works, Ltd. announces an Equity Buyback for 700,000 shares, representing 1.47% for ¥231 million.	CI

21023a02ca743d712d9.kpeEcmjiNJj8JQqknIqStWczbpVs938TpkpjKbhQ2RU.1OHgSiXUbqqbVjzBpbvz8SBQBOJarwhG3Hoga-oSnn_f0fA7INpc_ZhLXw

Published financial data: NICHIA STEEL WORKS, LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	30.94B	27.82B	30.72B	34.08B	34.5B
Total Revenues	30.94B	27.82B	30.72B	34.08B	34.5B
Cost of Goods Sold, Total	24.57B	22.07B	24.32B	27.76B	28.6B
Gross Profit	6.37B	5.75B	6.4B	6.31B	5.89B
Selling General & Admin Expenses, Total	4.62B	4.26B	4.39B	4.49B	4.56B
Provision for Bad Debts	-	-	-	-	-
Other Operating Expenses, Total	4.62B	4.26B	4.39B	4.49B	4.56B
Operating Income	1.75B	1.49B	2.01B	1.82B	1.34B
Interest Expense, Total	-34M	-32M	-19M	-20M	-18M
Interest And Investment Income	389M	347M	346M	436M	473M
Net Interest Expenses	355M	315M	327M	416M	455M
Income (Loss) On Equity Invest.	-86M	8M	53M	-93M	-118M
Currency Exchange Gains (Loss)	-58M	-	55M	46M	53M
Other Non Operating Income (Expenses)	70M	90M	152M	91M	107M
EBT, Excl. Unusual Items	2.03B	1.9B	2.6B	2.28B	1.83B
Gain (Loss) On Sale Of Investments	-1.36B	219M	19M	3M	305M
Gain (Loss) On Sale Of Assets	-	-107M	-	-	-
Asset Writedown	-15M	-16M	-13M	-11M	-35M
Other Unusual Items	-20M	-20M	-19M	-16M	3M
EBT, Incl. Unusual Items	641M	1.98B	2.59B	2.26B	2.11B
Income Tax Expense	249M	568M	790M	708M	666M
Earnings From Continuing Operations	392M	1.41B	1.8B	1.55B	1.44B
Net Income to Company	392M	1.41B	1.8B	1.55B	1.44B
Minority Interest	-8M	-79M	-82M	-219M	-182M
Net Income - (IS)	384M	1.33B	1.72B	1.33B	1.26B
Net Income to Common Incl Extra Items	384M	1.33B	1.72B	1.33B	1.26B
Net Income to Common Excl. Extra Items	384M	1.33B	1.72B	1.33B	1.26B
Per Share Items
Net EPS - Basic	7.93	27.54	35.44	27.52	26.18
Basic EPS - Continuing Operations	7.93	27.54	35.44	27.52	26.18
Basic Weighted Average Shares Outstanding	48.4M	48.4M	48.4M	48.4M	48.06M
Net EPS - Diluted	7.93	27.54	35.44	27.52	26.18
Diluted EPS - Continuing Operations	7.93	27.54	35.44	27.52	26.18
Diluted Weighted Average Shares Outstanding	48.4M	48.4M	48.4M	48.4M	48.06M
Normalized Basic EPS	26.08	22.96	31.88	24.96	20.05
Normalized Diluted EPS	26.08	22.96	31.88	24.96	20.05
Dividend Per Share	6	7	10	10	10
Payout Ratio	77.08	21.76	22.57	36.11	38.24
Supplemental Items
EBITDA	3.3B	2.94B	3.44B	3.23B	2.7B
EBITA	1.75B	1.49B	2.01B	1.82B	1.34B
EBIT	1.75B	1.49B	2.01B	1.82B	1.34B
EBITDAR	3.41B	3.05B	3.55B	3.35B	2.82B
Effective Tax Rate - (Ratio)	38.85	28.69	30.54	31.34	31.62
Normalized Net Income	1.26B	1.11B	1.54B	1.21B	964M
Non-Cash Pension Expense	27.15M	48.72M	-63.09M	-18.02M	-7.15M
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.93B	1.76B	1.89B	1.87B	1.8B
General and Administrative Expenses	238M	266M	267M	261M	268M
Research And Development Expense From Footnotes	34M	37M	43M	44M	47M
Net Rental Expense, Total	114M	110M	110M	115M	118M
Imputed Operating Lease Interest Expense	3.83M	4.2M	2.67M	2.9M	3.22M
Imputed Operating Lease Depreciation	110M	106M	107M	112M	115M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	10.54B	12.34B	12.89B	12.59B	12.46B
Short Term Investments	1.85B	2B	2.45B	-	202M
Total Cash And Short Term Investments	12.39B	14.34B	15.34B	12.59B	12.66B
Accounts Receivable, Total	10.71B	10.38B	10.73B	12.33B	12.32B
Total Receivables	10.71B	10.38B	10.73B	12.33B	12.32B
Inventory	9.08B	8.05B	10.36B	11.96B	11.05B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	414M	264M	402M	298M	267M
Total Current Assets	32.6B	33.03B	36.84B	37.17B	36.29B
Net Property Plant And Equipment	17.06B	16.62B	16.69B	16.35B	16.24B
Long-term Investments	14.25B	15.5B	15.62B	17.06B	20.97B
Other Intangibles, Total	189M	67M	60M	54M	88M
Loans Receivable Long-Term	-	5M	4M	3M	8M
Deferred Tax Assets Long-Term	429M	12M	9M	-	1M
Other Long-Term Assets, Total	2M	1M	2M	2M	2M
Total Assets	64.53B	65.24B	69.22B	70.63B	73.6B
Liabilities
Accounts Payable, Total	6.4B	5.8B	7.28B	7.28B	6.48B
Accrued Expenses, Total	284M	271M	325M	321M	339M
Short-term Borrowings	2.47B	1.12B	1.44B	1.82B	1.05B
Current Portion of Long-Term Debt	849M	3.34B	1.16B	1.19B	1.28B
Current Income Taxes Payable	848M	1.13B	1.66B	1.17B	1.35B
Other Current Liabilities	720M	688M	423M	616M	755M
Total Current Liabilities	11.57B	12.35B	12.28B	12.38B	11.26B
Long-Term Debt	4.13B	1.51B	3.95B	3.12B	2.11B
Pension & Other Post Retirement Benefits	2.25B	2.36B	2.41B	2.2B	2.31B
Deferred Tax Liability Non Current	535M	854M	853M	1.24B	2.52B
Other Non Current Liabilities	64M	67M	67M	66M	65M
Total Liabilities	18.55B	17.14B	19.57B	19.02B	18.27B
Common Stock, Total	10.72B	10.72B	10.72B	10.72B	10.72B
Additional Paid In Capital	10.89B	10.89B	10.89B	10.89B	10.89B
Retained Earnings	21.53B	22.57B	23.9B	24.75B	25.52B
Treasury Stock	-1.02B	-1.02B	-1.02B	-1.02B	-1.23B
Comprehensive Income and Other	992M	1.97B	2.1B	2.92B	5.89B
Total Common Equity	43.1B	45.12B	46.58B	48.26B	51.79B
Minority Interest	2.88B	2.98B	3.08B	3.36B	3.55B
Total Equity	45.98B	48.1B	49.66B	51.62B	55.34B
Total Liabilities And Equity	64.53B	65.24B	69.22B	70.63B	73.6B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	48.4M	48.4M	48.4M	48.4M	47.74M
ECS Total Common Shares Outstanding	48.4M	48.4M	48.4M	48.4M	47.74M
Book Value / Share	890.64	932.4	962.54	997.14	1.08K
Tangible Book Value	42.92B	45.06B	46.52B	48.2B	51.7B
Tangible Book Value Per Share	886.74	931.01	961.3	996.02	1.08K
Total Debt	7.45B	5.97B	6.55B	6.12B	4.44B
Net Debt	-4.95B	-8.37B	-8.8B	-6.46B	-8.21B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.9B	1.88B	1.89B	1.77B	1.71B
Debt Equivalent Oper. Leases	912M	880M	880M	920M	944M
Minority Interest, Total (Incl. Fin. Div)	2.88B	2.98B	3.08B	3.36B	3.55B
Inventories - Raw Materials, Total	2.8B	2.23B	3.23B	3.78B	3.09B
Inventories - Work In Process, Total	1.06B	919M	1.26B	1.44B	1.31B
Inventories - Finished Goods, Total	5.22B	4.9B	5.87B	6.74B	6.65B
Inventories - Others	-	1M	1M	1M	-
Full Time Employees	787	801	821	823	835
Accumulated Allowance for Doubtful Accounts (Supple)	5M	5M	5M	5M	5M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	642M	1.98B	2.59B	2.26B	2.11B
Depreciation & Amortization - CF	1.55B	1.45B	1.43B	1.41B	1.37B
Depreciation & Amortization, Total	1.55B	1.45B	1.43B	1.41B	1.37B
(Gain) Loss From Sale Of Asset	15M	123M	12M	11M	34M
(Gain) Loss on Sale of Investments - (CF)	1.36B	-216M	-19M	-3M	-264M
(Income) Loss On Equity Investments - (CF)	86M	-8M	-53M	93M	118M
Other Operating Activities, Total	-926M	82M	-284M	-1.04B	-579M
Change In Accounts Receivable	37M	327M	-324M	-1.58B	22M
Change In Inventories	-639M	1.04B	-2.28B	-1.58B	886M
Change In Accounts Payable	367M	-318M	1.15B	147M	-665M
Change in Other Net Operating Assets	-235M	40M	-139M	-68M	-20M
Cash from Operations	2.25B	4.49B	2.08B	-344M	3.01B
Capital Expenditure	-1.37B	-1.46B	-930M	-1.4B	-1.13B
Sale of Property, Plant, and Equipment	-	20M	1M	-	1M
Sale (Purchase) of Intangible assets	-6M	-10M	-12M	-24M	-43M
Investment in Marketable and Equity Securities, Total	-1.14B	747M	131M	54M	325M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-6M
Other Investing Activities, Total	-	-4M	-	1M	-16M
Cash from Investing	-2.51B	-709M	-810M	-1.37B	-873M
Short Term Debt Issued, Total	207M	-	-	700M	-
Long-Term Debt Issued, Total	1.2B	800M	3.8B	400M	300M
Total Debt Issued	1.41B	800M	3.8B	1.1B	300M
Short Term Debt Repaid, Total	-	-1.07B	-100M	-	-700M
Long-Term Debt Repaid, Total	-2.87B	-929M	-3.54B	-1.2B	-1.22B
Total Debt Repaid	-2.87B	-2B	-3.64B	-1.2B	-1.92B
Repurchase of Common Stock	-	-	-	-	-210M
Common & Preferred Stock Dividends Paid	-296M	-290M	-387M	-481M	-481M
Common & Preferred Stock Dividends Paid	-296M	-290M	-387M	-481M	-481M
Other Financing Activities, Total	-	-1M	-	-1M	-30M
Cash from Financing	-1.76B	-1.49B	-227M	-582M	-2.34B
Foreign Exchange Rate Adjustments	-9M	-3M	15M	-9M	12M
Miscellaneous Cash Flow Adjustments	-1M	-1M	-1M	-1M	63M
Net Change in Cash	-2.03B	2.3B	1.06B	-2.31B	-132M
Supplemental Items
Cash Interest Paid	36M	32M	21M	21M	18M
Cash Income Tax Paid (Refund)	737M	47M	281M	1.12B	613M
Levered Free Cash Flow	-85.88M	2.03B	729M	-2.27B	1.51B
Unlevered Free Cash Flow	-64.62M	2.05B	741M	-2.26B	1.52B
Change In Net Working Capital	1.33B	-1.14B	1B	3.39B	-493M
Net Debt Issued / Repaid	-1.46B	-1.2B	160M	-100M	-1.62B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.67	1.44	1.87	1.63	1.16
Return on Total Capital	2.02	1.73	2.28	2	1.42
Return On Equity %	0.85	3	3.68	3.06	2.69
Return on Common Equity	0.89	3.02	3.74	2.81	2.51
Margin Analysis
Gross Profit Margin %	20.6	20.67	20.84	18.53	17.08
SG&A Margin	14.94	15.31	14.29	13.18	13.21
EBITDA Margin %	10.66	10.57	11.21	9.49	7.84
EBITA Margin %	5.66	5.36	6.55	5.35	3.87
EBIT Margin %	5.66	5.36	6.55	5.35	3.87
Income From Continuing Operations Margin %	1.27	5.08	5.85	4.55	4.17
Net Income Margin %	1.24	4.79	5.58	3.91	3.65
Net Avail. For Common Margin %	1.24	4.79	5.58	3.91	3.65
Normalized Net Income Margin	4.08	3.99	5.02	3.54	2.79
Levered Free Cash Flow Margin	-0.28	7.29	2.37	-6.67	4.37
Unlevered Free Cash Flow Margin	-0.21	7.37	2.41	-6.64	4.4
Asset Turnover
Asset Turnover	0.47	0.43	0.46	0.49	0.48
Fixed Assets Turnover	1.82	1.65	1.84	2.06	2.12
Receivables Turnover (Average Receivables)	2.88	2.64	2.91	2.96	2.8
Inventory Turnover (Average Inventory)	2.8	2.58	2.64	2.49	2.49
Short Term Liquidity
Current Ratio	2.82	2.68	3	3	3.22
Quick Ratio	2	2	2.12	2.01	2.22
Operating Cash Flow to Current Liabilities	0.19	0.36	0.17	-0.03	0.27
Days Sales Outstanding (Average Receivables)	126.94	138.36	125.43	123.5	130.76
Days Outstanding Inventory (Average Inventory)	130.67	141.71	138.19	146.71	147.15
Average Days Payable Outstanding	89.83	105.9	89.63	90.49	90.91
Cash Conversion Cycle (Average Days)	167.78	174.17	173.99	179.72	187.01
Long Term Solvency
Total Debt/Equity	16.19	12.41	13.19	11.87	8.03
Total Debt / Total Capital	13.94	11.04	11.65	10.61	7.43
LT Debt/Equity	8.98	3.14	7.95	6.04	3.81
Long-Term Debt / Total Capital	7.73	2.79	7.03	5.4	3.53
Total Liabilities / Total Assets	28.75	26.27	28.27	26.92	24.82
EBIT / Interest Expense	51.5	46.59	105.95	91.15	74.22
EBITDA / Interest Expense	97.03	91.84	181.21	161.7	150.17
(EBITDA - Capex) / Interest Expense	56.68	46.16	132.26	91.65	87.17
Total Debt / EBITDA	2.26	2.03	1.9	1.89	1.64
Net Debt / EBITDA	-1.5	-2.85	-2.55	-2	-3.04
Total Debt / (EBITDA - Capex)	3.86	4.04	2.61	3.34	2.83
Net Debt / (EBITDA - Capex)