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.
November 8, 2024
Noevir Holdings Announces 2024 Consolidated Results | |
(based on Japan GAAP) | |
Trade name: | Noevir Holdings Co., Ltd. |
Listing: | Tokyo Stock Exchange, Prime Market (Securities Code: 4928) |
URL: | https://www.noevirholdings.co.jp/ |
Representative: | Takashi Okura, President and CEO |
Contact: | Junya Baba, General Manager, Accounting |
Tel. +81-78-303-5121
Annual General Meeting of Shareholders: December 9, 2024
Date of commencement of dividend payments: December 10, 2024
Submission of securities report: December 9, 2024
Supplemental materials for the financial results prepared: Yes
Results briefing for the reporting period held: Yes (for institutional investors and analysts)
(Amounts under one million yen have been rounded down)
1. Operating results for the fiscal year ended September 30, 2024 (October 1, 2023 - September 30, 2024)
(1) Consolidated operating results
(Millions of yen; percentage figures denote year-on-year change)
Operating | Ordinary | Net income | |||||||||||||||
Net sales | attributable to owners | ||||||||||||||||
Income | income | ||||||||||||||||
of the parent | |||||||||||||||||
Fiscal year ended September 30, 2024 | 63,823 | 2.0% | 11,423 | 3.6% | 11,594 | 2.6% | 7,970 | 3.9% | |||||||||
Fiscal year ended September 30, 2023 | 62,552 | 2.3% | 11,024 | 9.0% | 11,295 | 8.5% | 7,673 | 1.1% | |||||||||
Note: Comprehensive income: | |||||||||||||||||
Fiscal year ended September 30, 2024: 8,319 million yen [1.2%] | |||||||||||||||||
Fiscal year ended September 30, 2023: 8,224 million yen [4.1%] | |||||||||||||||||
Diluted EPS | ROE | Ordinary | Operating | ||||||||||||||
EPS (Yen) | income/Total | income/Total sales | |||||||||||||||
(Yen) | (%) | ||||||||||||||||
assets (%) | (%) | ||||||||||||||||
Fiscal year ended September 30, 2024 | 233.34 | - | 15.0 | 15.1 | 17.9 | ||||||||||||
Fiscal year ended September 30, 2023 | 224.66 | - | 14.6 | 14.7 | 17.6 | ||||||||||||
[Reference] | |||||||||||||||||
Equity in gain/losses of affiliated companies | |||||||||||||||||
Fiscal year ended September 30, 2024: - million yen | |||||||||||||||||
Fiscal year ended September 30, 2023: - million yen | |||||||||||||||||
(2) Consolidated financial position | (Millions of yen) | ||||||||||||||||
Total assets | Net assets | Equity ratio (%) | Net assets per share (Yen) | ||||||||||||||
As of September 30, 2024 | 76,471 | 53,906 | 69.9 | 1,565.68 | |||||||||||||
As of September 30, 2023 | 77,246 | 53,205 | 68.3 | 1,545.54 | |||||||||||||
[Reference] Equity: | |||||||||||||||||
As of September 30, 2024: 53,477 million yen | |||||||||||||||||
As of September 30, 2023: 52,790 million yen | |||||||||||||||||
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(3) Consolidated cash flows
(Millions of yen)
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |||||||||||
equivalents, | ||||||||||||||
operating activities | investing activities | financing activities | ||||||||||||
end of year | ||||||||||||||
Fiscal year ended September 30, 2024 | 9,123 | 1,525 | (7,712) | 29,006 | ||||||||||
Fiscal year ended September 30, 2023 | 7,624 | (3,544) | (7,493) | 26,166 | ||||||||||
2. Cash dividends | ||||||||||||||
Annual dividends (Yen) | Total dividend | Payout ratio | Dividends/ | |||||||||||
amount | Shareholders' | |||||||||||||
1st | 2nd | 3rd | Year- | (%) | ||||||||||
Total | (Millions of yen) | equity (%) | ||||||||||||
quarter | quarter | quarter | end | (Consolidated) | ||||||||||
(Annual) | (Consolidated) | |||||||||||||
Fiscal year ended | - | 0.00 | - | 220.00 | 220.00 | 7,514 | 97.9 | 14.3 | ||||||
September 30, 2023 | ||||||||||||||
Fiscal year ended | - | 0.00 | - | 225.00 | 225.00 | 7,685 | 96.4 | 14.5 | ||||||
September 30, 2024 | ||||||||||||||
Fiscal year ending | ||||||||||||||
September 30, 2025 | - | 0.00 | - | 225.00 | 225.00 | 96.1 | ||||||||
(forecast) |
3. Consolidated earnings forecasts for the fiscal year ending September 30, 2025 (October 1, 2024 - September 30, 2025)
(Millions of yen; percentage figures denote year-on-year change)
Net income | |||||||||
Net Sales | Operating income | Ordinary income | attributable to | EPS (Yen) | |||||
owners of the parent | |||||||||
Full year | 64,000 | 0.3% | 11,500 | 0.7% | 11,700 | 0.9% | 8,000 | 0.4% | 234.22 |
* Notes
- Significant changes in the scope of consolidation during the period: None
- Changes in accounting principles, procedures, disclosure methods
- Changes associated with revision in accounting standards: None
- Other changes: None
- Changes in accounting estimates: None
- Restatements: None
- Shares outstanding (common stock)
- Shares outstanding (including treasury stock)
As of September 30, 2024: 34,156,623
As of September 30, 2023: 34,156,623
-
Treasury shares outstanding
As of September 30, 2024: 416
As of September 30, 2023: 270 - Average shares outstanding for the period
Fiscal year ended September 30, 2024: 34,156,316
Fiscal year ended September 30, 2023: 34,156,353
Note: Please refer to "Note on per-share information" on page 21 of the Attached Material regarding the formula used to calculate earnings per share (consolidated).
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- Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
- Explanation regarding the appropriate use of business performance forecasts
Forward-looking statements included in these materials, such as forecasts of business performance, are based on information known to the Company's management as of the time of writing, and reflect judgments believed to be reasonable on the basis of that information. There is, therefore, a possibility that actual business performance figures will differ substantially from our forecasts as a result of changes in the economic situation and other unforeseeable factors. Please refer to "(1) Operating results for the fiscal year ended September 30, 2024" under "1. Operating results and financial information" on page 5 of Attached Material.
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Contents of the Attached Material | ||
Operating results for the fiscal year ended September 30, 2024 | ||
Profit distribution/dividend payment for the reporting term and the current term | ||
(2) | Consolidated statements of income and comprehensive income | 11 |
(3) | Consolidated changes to equity | 13 |
(4) | Consolidated statements of cash flows | 15 |
(5) | Notes to the consolidated financial statements | 16 |
(Note on assumptions for going concern) | 16 | |
(Note on change in presentation method) | 16 | |
(Note on consolidated balance sheets) | 16 | |
(Note on segment information, etc.) | 17 | |
(Note on per-share information) | 21 | |
(Note on important subsequent events) | 21 |
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1. Operating results and financial information
-
Operating results for the fiscal year ended September 30, 2024
1) Consolidated operating results for the reporting fiscal period
<
Fiscal year ended | Fiscal year ended | |||||
September 30, 2023 | September 30, 2024 | Change | Change | |||
Net Sales | % of Total | Net Sales | % of Total | (Millions of yen) | (%) | |
(Millions of yen) | (Millions of yen) | |||||
Ner sales | 62,552 | 100.0 | 63,823 | 100.0 | 1,270 | 2.0 |
Cosmetics | 48,175 | 77.0 | 49,761 | 78.0 | 1,586 | 3.3 |
Pharmaceuticals | 11,985 | 19.2 | 11,443 | 17.9 | (542) | (4.5) |
& Health Food | ||||||
Other | 2,391 | 3.8 | 2,618 | 4.1 | 226 | 9.5 |
Fiscal year ended | Fiscal year ended | |||||
September 30, 2023 | September 30, 2024 | Change | Change | |||
Amount | % of Net sales | Amount | % of Net sales | (Millions of yen) | (%) | |
(Millions of yen) | (Millions of yen) | |||||
Operating income | 11,024 | 17.6 | 11,423 | 17.9 | 398 | 3.6 |
Ordinary income | 11,295 | 18.1 | 11,594 | 18.2 | 298 | 2.6 |
Net income | 3.9 | |||||
attributable to | 7,673 | 12.3 | 7,970 | 12.5 | 296 | |
owners of the parent |
During fiscal 2024 (October 1, 2023 to September 30, 2024), economic trends remained uncertain, although some signs of gradual recovery were observed.
In this environment, the Company is working to realize the concept of its medium- to long-termstrategy: "Realizing steady corporate growth by securing sustainability in every Group business segment."
As a result, net sales for the fiscal year ended September 30, 2024 came to 63,823 million yen (up 2.0% year on year), operating income was 11,423 million yen (up 3.6%), ordinary income was 11,594 million yen (up 2.6%), and net income attributable to owners of the parent was 7,970 million yen (up 3.9%). Notably, net income attributable to owners of the parent was a record high.
<
(a) Cosmetics
(Millions of yen) | ||||
Fiscal year ended | Fiscal year ended | Change | Change | |
September 30, 2023 | September 30, 2024 | (Millions of yen) | (%) | |
Net sales | 48,175 | 49,761 | 1,586 | 3.3 |
Segment income | 11,867 | 12,226 | 359 | 3.0 |
Sales in the Cosmetics segment totaled 49,761 million yen (up 3.3% year on year), and segment income came to 12,226 million yen (up 3.0%).
(b) Pharmaceuticals & Health Food
(Millions of yen) | ||||
Fiscal year ended | Fiscal year ended | Change | Change | |
September 30, 2023 | September 30, 2024 | (Millions of yen) | (%) | |
Net sales | 11,985 | 11,443 | (542) | (4.5) |
Segment income | 1,185 | 1,230 | 45 | 3.8 |
Sales in the Pharmaceuticals & Health Food segment totaled 11,443 million yen (down 4.5% year on year), and segment income came to 1,230 million yen (up 3.8%).
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(c) Other
(Millions of yen) | ||||
Fiscal year ended | Fiscal year ended | Change | Change | |
September 30, 2023 | September 30, 2024 | (Millions of yen) | (%) | |
Net sales | 2,391 | 2,618 | 226 | 9.5 |
Segment income | 260 | 330 | 69 | 26.7 |
Sales in the Other segment came to 2,618 million yen (up 9.5% year on year), while segment income came to 330 million yen (up 26.7%).
2) Forecast for the current fiscal year ending September 30, 2025
Although a gradual economic recovery is anticipated, the outlook is expected to remain uncertain due to factors such as the risk of downward pressure on consumer spending caused by rising prices.
In this environment, the Company will move forward aiming to realize the concept of its medium- to long-termstrategy: "Realizing steady corporate growth by securing sustainability in every Group business segment." With this aim in mind, the Company's consolidated forecast for the fiscal year ending September 30, 2025 is for net sales of 64,000 million yen, operating income of 11,500 million yen, ordinary income of 11,700 million yen, and net income attributable to owners of the parent of 8,000 million yen.
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- Financial position as of September 30, 2024
- Assets, liabilities and net assets
Total assets on a consolidated basis as of September 30, 2024 stood at 76,471 million yen, a decrease of 774 million yen from the previous fiscal year-end. This was mainly due to a decrease of 1,606 million yen in other under current assets, while there were increases in investment securities of 500 million yen and cash and cash equivalents of 340 million yen.
Total liabilities came to 22,564 million yen, a decrease of 1,475 million yen from the previous fiscal year-end. This mainly reflected decreases other accounts payable of 1,073 million yen and in long- term guarantee deposits of 418 million yen.
Net assets came to 53,906 million yen, an increase of 701 million yen from the previous fiscal year- end. This was primarily attributable to an increase in retained earnings of 455 million yen and an increase in net unrealized gain on other securities of 343 million yen, due to net income attributable to owners of the parent of 7,970 million yen, which was partly offset by the payment of 7,514 million yen in dividends at the previous fiscal year-end.
As a result, the equity ratio stood at 69.9%, up 1.6 percentage points from the previous fiscal year- end, and net assets per share stood at 1,565.68 yen, an increase of 20.14 yen.
2) Consolidated cash flows
Cash and cash equivalents (hereinafter, "cash") on a consolidated basis as of September 30, 2024 stood at 29,006 million yen, an increase of 2,840 million yen compared with the previous fiscal year-end. The status of each cash flow together with the factors contributing to their increase or decrease for the fiscal year ended September 30, 2024 are presented as follows.
(Cash flows from operating activities)
Net cash provided by operating activities amounted to 9,123 million yen (compared with an inflow of 7,624 million yen in the corresponding period of the previous fiscal year). The main factor increasing cash was income before income taxes of 11,619 million yen, and the main factor decreasing cash was income tax paid of 2,161 million yen.
(Cash flows from investing activities)
Net cash provided by investing activities came to 1,525 million yen (compared with an outflow of 3,544 million yen in the corresponding period of the previous fiscal year). The principal cash inflow was 2,717 million yen in proceeds from withdrawal of time deposits, whereas the principal cash outflow was 626 million yen for purchase of property, plant and equipment.
(Cash flows from financing activities)
Net cash used in financing activities came to 7,712 million yen (compared with an outflow of 7,493 million yen in the corresponding period of the previous fiscal year). This was mainly due to the payment of 7,522 million yen in dividends.
(3) Profit distribution/dividend payment for the reporting term and the current term
The Company regards profit distribution to shareholders as an important management issue. Therefore, its basic policy is to continue to pay dividends with a focus on retuning profits to shareholders while ensuring the necessary reserves for business expansion in the medium and long term and a stronger management structure. For fiscal 2024 (ended September 30, 2024), based on the aforementioned policy, we plan to pay a year-end dividend of 225 yen per share, which is a 5 yen increase from our most recent dividend forecast.
For the current fiscal year, ending September 30, 2025, we plan to pay a dividend of 225 yen per share.
- 7 -
- Management strategy
-
Basic management policies and medium- to long-term strategy
To achieve the concept underlying the Noevir Group's medium- to long-term strategy, "Realizing steady corporate growth by securing sustainability in every Group business segment," the Group will execute the following five policies: - Pursue innovation and continuous profit generation in the domestic market
- Enhance our brand value
- Accelerate efforts to diversify human resources and our corporate structure
- Strengthen our competitiveness by stepping up the diversification of our R&D, production and logistics systems
- Promote a management approach that is responsive to changes in the business environment
-
Numerical targets and achievements
Having positioned net sales, operating income and return on equity (ROE) as key management indicators, the Noevir Group aims to maximize its corporate value and enhance profitability. - Key issues
Although a gradual economic recovery is anticipated, the outlook is expected to remain uncertain due to factors such as the risk of downward pressure on consumer spending caused by rising prices.
In this environment, in order to respond to change and diversification in the markets for the Group's core Cosmetics and Pharmaceuticals & Health Food businesses, the Group recognizes that promoting its concept underlying the medium- to long-term strategy, "Realizing steady corporate growth by securing sustainability in every Group business segment" is an important priority.
-
Basic management policies and medium- to long-term strategy
-
Basic Approach to Selecting Accounting Principles
For the foreseeable future, the Group plans to prepare consolidated financial statements based on generally accepted accounting principles in Japan. This policy takes into account factors such as the need to maintain comparability between the accounting periods of the consolidated financial statements and the fact that the Group has very little need to procure funds in overseas markets. Going forward, the Group plans to give due consideration to the adoption of international financial reporting standards (IFRS), taking into account conditions in Japan and overseas.
- 8 -
4. Consolidated financial statements and notes
- Consolidated balance sheets
(Millions of yen) | ||
As of | As of | |
September 30, 2023 | September 30, 2024 | |
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 28,883 | 29,223 |
Notes and accounts receivable | 10,495 | 10,788 |
Merchandise and finished goods | 6,352 | 6,307 |
Work in progress | 141 | 112 |
Raw materials and purchased supplies | 1,653 | 1,672 |
Other | 3,655 | 2,049 |
Allowance for doubtful accounts | (6) | (5) |
Total current assets | 51,175 | 50,148 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 4,887 | 4,597 |
Equipment and vehicles, net | 650 | 653 |
Land | 13,554 | 13,559 |
Lease assets, net | 846 | 766 |
Construction in progress | 71 | 156 |
Other, net | 183 | 174 |
Total property, plant and equipment | *1 20,193 | *1 19,907 |
Intangible assets | ||
Goodwill | 178 | 158 |
Software | 89 | 108 |
Other | 431 | 727 |
Total intangible assets | 699 | 994 |
Investments and other assets | ||
Investment securities | 2,611 | 3,112 |
Deferred tax assets | 1,455 | 1,186 |
Other | 1,132 | 1,141 |
Allowance for doubtful accounts | (20) | (18) |
Total investments and other assets | 5,178 | 5,421 |
Total non-current assets | 26,071 | 26,323 |
Total assets | 77,246 | 76,471 |
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(Millions of yen) | ||
As of | As of | |
September 30, 2023 | September 30, 2024 | |
LIABILITIES AND NET ASSETS | ||
Current liabilities | ||
Notes and accounts payable | 2,903 | 2,951 |
Lease obligations | 87 | 86 |
Other accounts payable | 3,012 | 1,939 |
Income tax payable | 2,146 | 1,720 |
Reserve for bonuses | 97 | 97 |
Other | 2,258 | 2,527 |
Total current liabilities | 10,506 | 9,323 |
Long-term liabilities | ||
Lease obligations | 827 | 742 |
Guarantee deposits received | 11,583 | 11,165 |
Deferred tax liabilities | 461 | 658 |
Net defined benefit liability | 534 | 557 |
Other | 127 | 119 |
Total long-term liabilities | 13,534 | 13,241 |
Total liabilities | 24,040 | 22,564 |
NET ASSETS | ||
Shareholders' equity | ||
Common stock | 7,319 | 7,319 |
Retained earnings | 43,312 | 43,768 |
Treasury stock | (1) | (2) |
Total shareholders' equity | 50,629 | 51,084 |
Accumulated other comprehensive income | ||
Net unrealized gain on other securities | 1,607 | 1,951 |
Foreign currency translation adjustments | 558 | 461 |
Remeasurements of defined benefit plans, net of tax | (5) | (20) |
Total accumulated other comprehensive income | 2,160 | 2,392 |
Non-controlling interests | 415 | 428 |
Total net assets | 53,205 | 53,906 |
Total liabilities and net assets | 77,246 | 76,471 |
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Attachments
- Original document
- Permalink
Disclaimer
Noevir Holdings Co. Ltd. published this content on November 08, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 08, 2024 at 06:39:38.051.