Nichirei : Financial Statements PDF (104 KB)

Consolidated Financial Statements - Summary	August 2, 2022
(For the three months ended June 30, 2022)
English translation from the original Japanese-language document
(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)
Company name:	NICHIREI CORPORATION (Code number 2871)

1. Results for the Three Months Ended June 30, 2022 (April 1, 2022 through June 30, 2022)

(1) Consolidated financial results

(Amounts less than one million yen are omitted)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Million yen

Million yen

Million yen

Million yen

156,057

6,677

6,979

4,251

June 30, 2022

Three months ended

143,658

7,050

7,295

4,361

June 30, 2021

(Note) Comprehensive income:

Three months ended June 30, 2022:

11,588 million yen

(150.5%)

Three months ended June 30, 2021:

4,627 million yen

(19.9%)

E.P.S.

Diluted E.P.S.

Three months ended

Yen

Yen

32.83

-

June 30, 2022

Three months ended

32.73

-

June 30, 2021

(2) Consolidated financial position

Total assets

Total net assets

Equity ratio

Equity per share

Million yen

Million yen

%

Yen

As of June 30, 2022

448,916

226,246

48.7

1,687.30

As of March 31, 2022

427,606

217,903

49.4

1,630.84

(Note) Shareholders' equity:

As of June 30, 2022:

218,480 million yen

As of March 31, 2022:

211,169 million yen

2. Dividend Status

Dividend per share

(Base date)

End of 1st quarter

End of 2nd quarter

End of 3rd quarter

End of FY

Annual

Yen

Yen

Yen

Yen

Yen

FY ended March 31, 2022

-

25.00

-

25.00

50.00

FY ending March 31, 2023

-

FY ending March 31, 2023

26.00

-

26.00

52.00

(Forecast)

(Note) Revisions to dividend

forecasts published most recently (Y/N): No

3. Estimation of Business Results of Fiscal Year Ending March 31, 2023 (April 1, 2022 through March 31, 2023)

	Net sales	Operating profit	Ordinary profit	Profit attributable to	E.P.S.
	owners of parent
	Million yen	Million yen	Million yen	Million yen	Yen
FY ending March 31, 2023	633,000	31,500	31,900	21,200	163.73

(Note) Revisions to financial estimation published most recently (Y/N): Yes

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* Notes

(1) Any changes in important subsidiaries during the term (Change in specific subsidiaries as a result of a change in the scope of

consolidation): None
New inclusion: ― companies	(company name)
Elimination:	― companies	(company name)

1. Adoption of accounting treatment unique to the preparation of quarterly consolidated financial statements: Yes (Calculation of tax cost)
   With respect to tax cost, an effective tax rate was reasonably estimated after applying tax effect accounting to profit before taxes for the fiscal year including the three-month period ended June 30, 2022, and tax cost was calculated by multiplying profit before taxes by the effective tax rate.
2. Changes in accounting policies, changes in accounting estimates, and restatement

1. Changes in accounting policies associated with the revision of accounting standards, etc.: None

(ii)	Changes in accounting policies other than (i):	None
(iii)	Changes in accounting estimates:	None
(iv)	Restatement:	None

1. Total number of outstanding shares (Common stock)
2. 1. Total number of outstanding shares at term end (Includes treasury stock):

As of June 30, 2022:	134,007,795 shares
As of March 31, 2022:	134,007,795 shares
(ii) Total treasury stock at term end:
As of June 30, 2022:	4,522,867 shares
As of March 31, 2022:	4,522,808 shares
(iii) Average number of outstanding shares during the period:
For the three months ended June 30, 2022:	129,484,940 shares
For the three months ended June 30, 2021:	133,261,796 shares

• Quarterly financial summaries are not subject to quarterly review by any certified public accountant or auditing firm.
• Note to proper use of forecast of operating results and other special remarks

This statement was prepared based on information available at the time of disclosure. The Company makes no guarantee that the forecasts will be achieved. Actual results may vary significantly as a result of a variety of factors. Please refer to the "Cautionary Statements" on page 8.

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Consolidated Balance Sheets

NICHIREI CORPORATION

(Million yen; amounts less than one million yen are omitted)

	FY 2021	As of June 30, 2022
	(As of March 31, 2022)
Current assets
Cash and deposits	23,413	28,048
Notes and accounts receivable - trade	90,965	91,986
Merchandise and finished goods	41,077	45,466
Work in process	1,189	978
Raw materials and supplies	9,861	9,598
Other	13,904	21,929
Allowance for doubtful accounts	(112)	(133)
Total current assets	180,299	197,873
Non-current assets
Property, plant and equipment
Buildings and structures	261,489	266,747
Accumulated depreciation	(179,393)	(181,923)
Buildings and structures, net	82,095	84,824
Machinery, equipment and vehicles	125,441	128,711
Accumulated depreciation	(88,650)	(91,583)
Machinery, equipment and vehicles, net	36,790	37,127
Land	41,075	41,186
Leased assets	36,267	33,459
Accumulated depreciation	(22,777)	(18,930)
Leased assets, net	13,490	14,529
Construction in progress	4,904	1,884
Other	12,866	13,170
Accumulated depreciation	(10,117)	(10,467)
Other, net	2,748	2,702
Total property, plant and equipment	181,106	182,255
Intangible assets
Goodwill	6,700	6,837
Other	8,080	7,872
Total	14,781	14,709
Investments and other assets
Investment securities	38,106	39,933
Net defined benefit asset	49	49
Deferred tax assets	2,607	2,726
Other	11,024	11,765
Allowance for doubtful accounts	(369)	(396)
Total	51,419	54,077
Total non-current assets	247,307	251,042
Total assets	427,606	448,916

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NICHIREI CORPORATION

(Million yen; amounts less than one million yen are omitted)

	FY 2021	As of June 30, 2022
	(As of March 31, 2022)
Current liabilities
Accounts payable - trade	26,778	29,347
Electronically recorded obligations - operating	2,476	1,966
Short-term borrowings	13,490	21,599
Commercial papers	2,000	6,000
Current portion of bonds payable	14,798	15,218
Lease obligations	3,395	3,384
Accrued expenses	34,909	30,199
Income taxes payable	4,779	2,092
Provision for directors' bonuses	198	51
Other	17,947	22,414
Total current liabilities	120,775	132,273
Non-current liabilities
Bonds payable	40,000	40,000
Long-term borrowings	19,882	19,543
Lease obligations	11,149	12,146
Deferred tax liabilities	5,853	7,382
Provision for retirement benefits for directors (and other officers)	102	69
Net defined benefit liability	2,029	2,107
Asset retirement obligations	4,180	4,554
Long-term guarantee deposited	2,181	2,108
Other	3,548	2,483
Total non-current liabilities	88,928	90,396
Total liabilities	209,703	222,669
Shareholders' equity
Share capital	30,472	30,472
Capital surplus	5,495	5,495
Retained earnings	172,369	173,383
Treasury shares	(11,841)	(11,841)
Total shareholders' equity	196,494	197,509
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	11,984	13,280
Deferred gains or losses on hedges	2,360	4,351
Foreign currency translation adjustment	329	3,339
Total accumulated other comprehensive income	14,674	20,971
Non-controlling interests	6,733	7,766
Total net assets	217,903	226,246
Total liabilities and net assets	427,606	448,916

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Consolidated Statements of Income

NICHIREI CORPORATION

(Million yen; amounts less than one million yen are omitted)

	Three months ended	Three months ended
	June 30, 2021	June 30, 2022
	(Apr. 2021-June 2021)	(Apr. 2022-June 2022)
Net sales	143,658	156,057
Cost of sales	118,968	130,763
Gross profit	24,689	25,294
Selling, general and administrative expenses
Transportation and warehousing expenses	4,845	5,396
Promotion expenses	303	330
Advertising expenses	1,369	1,172
Directors' compensations, employees' salaries, bonuses and	4,959	4,953
allowance
262	273
Retirement benefit expenses
Legal and employee benefits expenses	924	912
Transportation and communication expenses	288	395
Rent expenses	550	592
Business consignment expenses	1,063	1,099
Research and development expense	439	467
Other	2,633	3,024
Total	17,639	18,617
Operating profit	7,050	6,677
Non-operating income
Interest income	19	32
Dividend income	418	424
Share of profit of entities accounted for using equity method	-	―
Other	168	145
Total	606	601
Non-operating expenses
Interest expenses	160	172
Share of loss of entities accounted for using equity method	10	1
Other	189	125
Total	360	299
Ordinary profit	7,295	6,979
Extraordinary income
Gain on sales of non-current assets	12	8
Gain on sales of investment securities	2	-
Total	14	8
Extraordinary losses
Loss on sales of non-current assets	2	19
Loss on retirement of non-current assets	312	169
Impairment losses	101	20
Other	16	46
Total	433	255
Profit before income taxes	6,877	6,731
Income taxes	2,319	1,948
Profit	4,557	4,783
Profit attributable to non-controlling interests	196	532
Profit attributable to owners of parent	4,361	4,251

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