PCA : Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023（370KB） 新しいウィンドウを開く

Summary of Consolidated Financial Results for the Fiscal Year

Ended March 31, 2023 (J-GAAP)

English translation of the original Japanese document. In case there is any inconsistency between the translation and the original, the latter shall prevail.

			April 26, 2023
Company name:	PCA Corporation	Stock exchange where listed: Tokyo
Securities code:	9629	URL: https://pca.jp/
Representative:	Fumiaki Sato, President and CEO
Contact:	Yoshiyuki Sakashita, General Manager, Finance and Accounting Division	TEL: [phone]

Scheduled date for annual shareholders' meeting:	June 21, 2023
Scheduled date for commencement of dividend payment:	June 22, 2023
Scheduled date for filing of annual securities report:	June 22, 2023
Supplementary materials prepared for financial results:	Yes
Briefing session held for financial results:	Yes (video streaming of the financial results briefing)
	(Amounts have been rounded down to the nearest million yen)

1. Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022, to March 31, 2023)

(1) Consolidated Operating Results

(%: change from the previous fiscal year)

	Net sales			Operating profit		Ordinary profit	Profit attributable to owners
					of parent
	Million yen		%		Million yen		%		Million yen		%	Million yen		%
FY2023	12,981		(3.0)		1,288		(51.5)		1,326		(50.8)		883		(62.7)
FY2022	13,382		0.6		2,655		14.7		2,697		15.2		2,367		41.9
(Note) Comprehensive income:	FY2023	982 million yen (-29.5%)
			FY2022	1,393 million yen (-48.5%)
	Earnings per share		Diluted earnings per share		Return on equity	Return on assets	Operating profit
			margin
			Yen				Yen		%		%			%
FY2023			44.16				43.92		5.1		4.5			9.9
FY2022			118.36				117.98		14.4		10.0			19.8
(Reference) Equity in earnings of affiliates:	FY2023	― million yen
					FY2022	― million yen

(Note) The Company conducted a three-for-one stock split of its common stock on October 1, 2021 (effective date). "Earnings per share" and "Diluted earnings per share" for FY2022 have been calculated under the assumption that this stock split had been conducted at the beginning of FY2022.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2023	30,608	17,792	56.9	870.38
As of March 31, 2022	28,381	17,281	59.7	847.14

(Reference) Shareholders' equity:	As of March 31, 2023	17,406 million yen
		As of March 31, 2022	16,941 million yen
(3) Consolidated Cash Flows
	Cash flows from operating	Cash flows from investing	Cash flows from financing	Cash and cash equivalents
	activities	activities	activities	at end of period
		Million yen		Million yen	Million yen	Million yen
FY2023		2,641		(308)	(606)	17,458
FY2022		3,684		708	(254)	15,731

2. Dividends

			Annual dividends per share		Dividends	Dividend payout	Ratio of dividends
							(total)	ratio	to net assets
		End of Q1	End of Q2	End of Q3	End of Q4	Annual
			(consolidated)	(consolidated)
		Yen	Yen	Yen	Yen	Yen	Million yen	%	%
FY2022		－	0.00	－	24.00	24.00	479	20.3	2.9
FY2023		－	0.00	－	17.00	17.00	339	38.5	2.0
FY2024 (forecast)	－	0.00	－	17.00	17.00		38.3
(Note)	Breakdown of year-end dividend in FY2022: ordinary dividend of 13.00 yen plus commemorative dividend of 11.00 yen
	Revisions since the most recently published dividend forecast: None

3. Forecasted Consolidated Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023, to March 31, 2024)

(%: change from the previous fiscal year)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
								owners of parent
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	14,700		13.2	1,445	12.2	1,478	11.4	925	4.8	46.27

* Notes

1. Changes in significant subsidiaries during the fiscal year (changes in specified subsidiaries resulting in changes in the scope of consolidation): None

New:

(Company name:

)

Excluded:

(Company name:

)

(2) Changes in accounting policy, changes in accounting estimates, and restatements

1)	Changes in accounting policy due to the revision of accounting standards and related items:	None
2)	Changes in accounting policy other than 1) above:	None
3)	Changes in accounting estimates:	None
4)	Restatements:	None

(3) Number of outstanding shares (common stock)

1) Number of outstanding shares at the end of the period (including treasury shares)

As of March 31, 2023:	22,000,000 shares
As of March 31, 2022:	23,100,000 shares

2) Number of treasury shares at the end of the period

As of March 31, 2023:	2,001,009 shares
As of March 31, 2022:	3,100,962 shares
3) Average number of shares during the period
FY2023:	19,999,022 shares
FY2022:	19,999,038 shares

(Note) The Company conducted a three-for-one stock split of its common stock on October 1, 2021 (effective date). "Average number of shares during the period" for FY2022 has been calculated under the assumption that this stock split had been conducted at the beginning of FY2022.

Reference: Overview of Non-Consolidated Results

1. Non-Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022, to March 31, 2023)

(1) Non-Consolidated Operating Results

(%: change from the previous fiscal year)

	Net sales		Operating profit	Ordinary profit	Profit
	Million yen		%	Million yen	%	Million yen	%	Million yen	%
FY2023	10,413		(2.9)	1,039	(49.8)	1,211	(45.6)	925	(57.2)
FY2022	10,723		(11.7)	2,072	18.4	2,227	17.4	2,163	50.8
	Earnings per share	Diluted earnings per share
			Yen		Yen
FY2023			46.28		46.03
FY2022			108.20		107.85

(Note) The Company conducted a three-for-one stock split of its common stock on October 1, 2021 (effective date). "Earnings per share" and "Diluted earnings per share" for FY2022 have been calculated under the assumption that this stock split had been conducted at the beginning of FY2022.

(2) Non-Consolidated Financial Position

	Total assets		Net assets	Equity ratio		Net assets per share
		Million yen		Million yen		%	Yen
As of March 31, 2023		26,727		16,042		59.4	793.94
As of March 31, 2022		24,833		15,507		62.4	775.43
(Reference) Shareholders' equity:	As of March 31, 2023	15,877 million yen
		As of March 31, 2022	15,507 million yen

2. Forecasted Non-Consolidated Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023, to March 31, 2024)

(%: change from the previous fiscal year)

	Net sales		Ordinary profit		Profit		Earnings per share
	Million yen		%	Million yen		%	Million yen	%	Yen
Full year	11,677		12.1	1,149		(5.1)	835	(9.7)	41.79

• Summaries of financial results are not subject to audits by certified public accountants or auditing firms.
• Information regarding the appropriate use of forecasted results and other information to note:

This report contains forward-looking statements that are based on information currently available to the Company and assumptions that have been deemed to be reasonable by the Company. Actual results may differ from the forecasts due to factors including various uncertainties inherent to the forecasts and future changes in the internal/external conditions that impact business operations. For cautionary notes and other information related to the use of forecasted results, please see "I. Overview of Operating Results and Other Information: (4) Future Outlook" on page 4 of the attached documents.

PCA Corporation (9629): Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Table of Contents of the Attached Documents

I. Overview of Operating Results and Other Information ……………………………………………………………………	2
(1)	Overview of Operating Results for the Fiscal Year Ended March 31, 2023 ……………………………………………	2
(2)	Overview of Financial Conditions for the Fiscal Year Ended March 31, 2023 …………………………………………	3
(3)	Overview of Cash Flows for the Fiscal Year Ended March 31, 2023 …………………………………………………	4
(4)	Future Outlook……………………………………………………………………………………………………………	4
II. Basic Concept Regarding the Selection of Accounting Standards …………………………………………………………	4
III. Consolidated Financial Statements and Important Notes …………………………………………………………………	5
(1)	Consolidated Balance Sheets ……………………………………………………………………………………………	5
(2)	Consolidated Statement of Income and Consolidated Statement of Comprehensive Income……………………………	7
	(Consolidated Statement of Income) ………………………………………………………………………………	7
	(Consolidated Statement of Comprehensive Income) ………………………………………………………………	8
(3) Consolidated Statement of Changes in Shareholders' Equity …………………………………………………………	9
(4)	Consolidated Cash Flow Statement………………………………………………………………………………………	11
(5)	Notes Regarding Consolidated Financial Statements ……………………………………………………………………	12
	(Notes Regarding Going Concern Assumption) ………………………………………………………………………	12
	(Segment Information)	…………………………………………………………………………………………………	12
	(Per Share Information)	………………………………………………………………………………………………	12
	(Significant Subsequent Events) ………………………………………………………………………………………	12

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PCA Corporation (9629): Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

I. Overview of Operating Results and Other Information

(1) Overview of Operating Results for the Fiscal Year Ended March 31, 2023

Regarding Japan's economic situation during the fiscal year ended March 31, 2023, although economic activities have been restricted due to the COVID-19 outbreak, the social environment is expected to recover thanks to the relaxation of local activity restrictions and border restrictions for international travelers. Signs of economic recovery have started to be seen. On the other hand, the situation remains difficult to predict due to factors such as the prolonged Russian invasion of Ukraine, the global instability, and the rising energy and resource costs.

Our cloud services for enterprise systems and business software have also been impacted, as costs for maintaining the services and their quality have been rising. We have made our maximum effort to maintain quality, reduce the cost of service, and improve operational efficiency, among other measures. However, we have decided that we too will need to revise the price of our products and services starting in July 2023. This price revision will include our various PCA software products and maintenance subscriptions.

To prevent the spread of COVID-19, we will continue to strictly adhere to our "PCA-Style" (avoiding closed spaces, crowded places, and close contact, as well as disinfecting, checking body temperature, and conducting thorough management of contact tracing).

The following are our basic policies for preventing the spread of COVID-19:

・Give top priority to protecting the lives and health of our customers, our partners, and our employees and their families ・Prevent the spread of infection

・As much as possible, continue to provide the services needed by our customers

Under these policies, we will continue with the new normal at all our offices, encourage remote work as the preferable way of working, and conduct business activities in compliance with the policies of the national and local governments.

As the PCA Group, we provide products and services that help our customers improve their business operations in remote work, work-from-home, and staggered working hours. With our sales partners, we will continue to develop services with a focus on cloud- based and solution-based services.

As part of this effort, we have been working on the PCA Hub series, which aims to digitalize the Japanese society by supporting small/medium-sized and mid-tier companies in shifting to paperless internal operations and B2B transactions. In March 2022, we released the online storage service PCA Hub eDOC as the first product of this series. In November 2022, we released a new service for this product by adding the AI-OCR option, which can automatically read and register data from documents such as those related to national taxes. We have furthermore released PCA Hub Pay Slip and PCA Hub Invoice in March 2023.

PCA Hub Pay Slip is a service for the electronic delivery of pay slips, bonus slips, and other documents which have conventionally been distributed in paper format as part of the salary calculation work. PCA Hub Invoice is a service that enables the electronic delivery of invoices which have conventionally been delivered as paper documents to clients and suppliers. Compatible with the invoicing system that will begin in October 2023, this service will not only enable the electronic delivery of qualified invoices but also help improve operational efficiency through the digitalization of the invoicing process.

Data linkage between these services and our various PCA software products is also possible. Moreover, these services can digitalize back-office operations which used to be done by hand, as well as improving employee productivity for each operation. With these strengths, we are hoping that these services will gain 2,000 corporate users in the first year after their release.

To firmly establish our position as a "Management Support Company," we will continue to provide problem-solving services that go beyond just business management software and services, focusing on customer success to contribute to our customer's business development.

The number of corporate users of the PCA Cloud series has been increasing steadily from 12,070 in FY2019 to 14,327 in FY2020, 16,444 in FY2021, 19,152 in FY2022, and 21,022 in FY2023, surpassing 20,000 corporate users in the 15th year since the launch of service. With PCA Cloud and PCA Cloud on AWS, users can use PCA's software with no initial cost and without having to manage their in-house servers.

We also believe that there will be demand for our subsidiary's cloud service for attendance management as one way for companies to implement the work-stylereform. We expect that this service will continue to contribute to our business results.

In addition to these circumstances, we saw a decline in the replacement demand for the PCA X series, whose support had ended in December 2021. As a result, the PCA Group's financial results for FY2023 were as follows: net sales of 12,981 million yen (-3.0% YOY), operating profit of 1,288 million yen (-51.5% YOY), ordinary profit of 1,326 million yen (-50.8% YOY), and profit attributable to owners of parent of 833 million yen (-62.7% YOY).

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