July 29, 2022 | |
For Immediate Release | |
Company name: | Okabe Co., Ltd. |
Representative: | Hirohide Kawase, Representative Director, |
President and Chief Executive Officer | |
(Securities Code: 5959, TSE Prime Market) | |
Contact: | Yasushi Hosomichi, Director and Senior |
Managing Executive Officer in charge of | |
Administrative Division and International | |
Division | |
(TEL. +81-3-3624-5119) | |
Notice of Revisions to Consolidated Financial Results Forecast, | |
Dividends of Surplus (Interim Dividend) and Year-End Dividend Forecast |
Okabe Co., Ltd. (the "Company") hereby announces that in light of its recent business performance, it has decided to revise its full-year consolidated financial results forecast, dividends of surplus (interim dividend) and year-end dividend forecast, released on February 10, 2022. Details are as follows.
1. Revisions to the financial forecasts
(1) Revision to the consolidated results forecast for the fiscal year ending December 31, 2022 (January 1, 2022 to December 31, 2022)
Net sales | Operating profit | Ordinary profit | Profit attributable | Profit per share | ||||||||||||||||
to owners of parent | ||||||||||||||||||||
Previous forecast (A) | Million yen | Million yen | Million yen | Million yen | Yen | |||||||||||||||
72,500 | 5,100 | 5,300 | 3,450 | 71.94 | ||||||||||||||||
Revised forecast (B) | 75,850 | 5,200 | 5,400 | 3,850 | 81.25 | |||||||||||||||
Change (B - A) | 3,350 | 100 | 100 | 400 | ||||||||||||||||
Change (%) | 4.6 | 2.0 | 1.9 | 11.6 | ||||||||||||||||
(Reference) Actual | ||||||||||||||||||||
results for previous | ||||||||||||||||||||
fiscal year | 64,829 | 4,334 | 4,726 | 2,627 | 54.13 | |||||||||||||||
(Fiscal year ended | ||||||||||||||||||||
December 31, 2021) |
(2) Reason for the revision
With respect to the consolidated results forecast for the fiscal year ending December 31, 2022, the Company has taken into consideration its financial results for the first six months under review. Moreover, in the construction- related products business, it expects that in the second half, sales of building structural materials and temporary building/formwork products will be solid and those of construction materials will remain strong in the United States. Based on these factors, net sales, operating profit and ordinary profit are forecast to exceed the initial projections. In addition, profit attributable to owners of parent is forecast to be higher than the initial assumption because the Company sold shares that it held for cross-shareholding purposes to improve the efficiency of its assets and bolster its financial situation.
2. Dividends of surplus (interim dividends) and revision of year-end dividend forecast
(1) Dividends of surplus (interim dividends)
Immediately preceding | Results of the same period | |||||||||||
Amount determined | dividend forecast | in the previous year | ||||||||||
(Announced on February | (Fiscal year ended | |||||||||||
10, 2022) | December 31, 2021) | |||||||||||
Record date | June 30, 2022 | Same as left | June 30, 2021 | |||||||||
Dividend per share | 12.00 yen | 11.00 yen | 10.00 yen | |||||||||
Total dividend | 570 million yen | - | 488 million yen | |||||||||
Effective date | September 5, 2022 | - | September 6, 2021 | |||||||||
Source of dividends | Retained earnings | - | Retained earnings | |||||||||
(2) Revision of year-end dividend forecast | ||||||||||||
Dividend per share | ||||||||||||
End of second quarter | End of fiscal year | Total | ||||||||||
Previous forecast | 11.00 yen | 11.00 yen | 22.00 yen | |||||||||
Revised forecast | 12.00 yen | 24.00 yen | ||||||||||
Results for the current year
Actual results for the previous year (Fiscal year ended December 31, 2021)
12.00 yen
10.00 yen | 10.00 yen | 20.00 yen |
(3) Reason for the revision
The Company's basic policy is to maintain stable dividends, a payout ratio of 30% or more, to enhance the return of profits to shareholders. The dividend is also linked to consolidated business results and comprehensively reflects the need to bolster internal reserves to strengthen the Group's financial position and fund future business operations, among other needs.
Under the above basic policy, taking into account financial results for the first six month under review and other factors, the Company will pay an interim dividend of 12 yen per share for the fiscal year under review, which is an increase of one yen from the initial forecast (an increase of 2 yen from the year-ago result).
In addition, in consideration of the full-year consolidated results forecast, among other factors, the Company will also increase its year-end dividend per share by one yen from the initial forecast, to 12 yen per share. As a result, its yearly dividend is expected to be 24 yen per share, an increase of 4 yen from the year-ago result, with the payout ratio standing at 29.5%.
Forward-looking statements in this document, including forecasts, are based on information available at the time of disclosure and on certain assumptions deemed reasonable by the Company. Actual results may differ materially from forward-looking statements due to a number of factors.
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OKABE Co. Ltd. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 06:05:03 UTC.