Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Nine Months Ended September 30, 2023 (Based on Japanese GAAP)
November 13, 2023 | ||||
Company name: | SEIKO PMC CORPORATION | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 4963 | URL https://www.seikopmc.co.jp/ | ||
Representative: | Representative Director, President and CEO | Seido Kan | ||
Inquiries: | Exective Officer, Head of Administration | Hiroharu Kawano | TEL 03-6202-7331 | |
Division | ||||
Scheduled date to file Quarterly Securities Report: | November 13, 2023 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended September 30, 2023 (from January 1, 2023 to September 30, 2023)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Nine months ended September 30, 2023 | 23,932 | (1.0) | 1,441 | (9.4) | 2,011 | (15.8) | 1,466 | (16.7) |
Nine months ended September 30, 2022 | 24,162 | 5.0 | 1,590 | (30.0) | 2,389 | (3.1) | 1,760 | 7.3 |
Earnings per share | Diluted earnings per share | |||||||
Yen | Yen | |||||||
Nine months ended September 30, 2023 | 48.37 | - | ||||||
Nine months ended September 30, 2022 | 58.08 | - | ||||||
(2) Consolidated financial position | ||||||||
Total assets | Net assets | Equity ratio | ||||||
Millions of yen | Millions of yen | % | ||||||
As of September 30, 2023 | 47,162 | 32,994 | 69.2 | |||||
As of December 31, 2022 | 46,557 | 31,108 | 66.1 | |||||
2. Cash dividends | ||||||||
Annual dividends per share | ||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | |||||
Yen | Yen | Yen | Yen | |||||
Year ended December 31, 2022 | - | 8.00 | - | 8.00 | ||||
Year ending December 31, 2023 | - | 8.00 | - | |||||
Year ending December 31, 2023 (Forecast) | 0.00 |
Total
Yen 16.00
8.00
3. Forecast of consolidated financial results for the year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 32,207 | (0.7) | 2,119 | 12.5 | 2,680 | 11.9 | 2,006 | 21.8 | 66.16 |
1
4. Notes
- Changes in significant subsidiaries during the nine months ended September 30, 2023 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
No
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023 | 30,321,283 | shares | As of December 31, 2022 | 30,321,283 | shares | |
Number of treasury shares at the end of the period | ||||||
As of September 30, 2023 | 195 | shares | As of December 31, 2022 | 192 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Nine months ended September 30, 2023 | 30,321,091 | shares | Nine months ended September 30, 2022 | 30,321,168 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | ||
As of December 31, 2022 | As of September 30, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 3,827,471 | 4,195,005 |
Notes and accounts receivable - trade | 11,855,653 | 11,461,178 |
Electronically recorded monetary claims - operating | 2,000,835 | 1,926,440 |
Merchandise and finished goods | 3,283,138 | 3,124,585 |
Work in process | 506,939 | 478,691 |
Raw materials and supplies | 2,146,933 | 1,968,217 |
Short-term loans receivable | 995,979 | 728,379 |
Other | 835,559 | 722,735 |
Allowance for doubtful accounts | (7,829) | (8,285) |
Total current assets | 25,444,680 | 24,596,947 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 5,146,945 | 5,308,259 |
Machinery, equipment and vehicles, net | 4,719,028 | 4,486,917 |
Land | 7,070,738 | 7,269,635 |
Construction in progress | 1,075,448 | 1,820,555 |
Other, net | 216,784 | 249,212 |
Total property, plant and equipment | 18,228,945 | 19,134,581 |
Intangible assets | 50,500 | 73,198 |
Investments and other assets | ||
Investment securities | 929,539 | 1,181,430 |
Retirement benefit asset | 1,134,220 | 1,418,038 |
Other | 800,170 | 788,027 |
Allowance for doubtful accounts | (30,193) | (29,970) |
Total investments and other assets | 2,833,737 | 3,357,525 |
Total non-current assets | 21,113,182 | 22,565,305 |
Total assets | 46,557,863 | 47,162,252 |
3
(Thousands of yen) | ||
As of December 31, 2022 | As of September 30, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 5,875,497 | 4,960,186 |
Short-term borrowings | 5,572,068 | 4,667,728 |
Current portion of long-term borrowings | 85,975 | 92,543 |
Income taxes payable | 229,325 | 171,730 |
Provision for bonuses | 587,366 | 389,836 |
Other provisions | - | 22,050 |
Other | 1,996,138 | 2,736,467 |
Total current liabilities | 14,346,372 | 13,040,541 |
Non-current liabilities | ||
Long-term borrowings | 560,436 | 553,840 |
Provision for retirement benefits for directors (and other | 7,800 | - |
officers) | ||
Asset retirement obligations | 87,730 | 88,120 |
Other | 446,570 | 485,451 |
Total non-current liabilities | 1,102,537 | 1,127,411 |
Total liabilities | 15,448,909 | 14,167,953 |
Net assets | ||
Shareholders' equity | ||
Share capital | 2,000,000 | 2,000,000 |
Capital surplus | 1,149,697 | 1,149,697 |
Retained earnings | 26,331,123 | 27,312,581 |
Treasury shares | (115) | (118) |
Total shareholders' equity | 29,480,706 | 30,462,160 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 285,464 | 467,298 |
Deferred gains or losses on hedges | (6,506) | 1,956 |
Foreign currency translation adjustment | 1,169,530 | 1,828,928 |
Remeasurements of defined benefit plans | (150,226) | (126,315) |
Total accumulated other comprehensive income | 1,298,262 | 2,171,867 |
Non-controlling interests | 329,985 | 360,271 |
Total net assets | 31,108,954 | 32,994,298 |
Total liabilities and net assets | 46,557,863 | 47,162,252 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | ||
Nine months ended | Nine months ended | |
September 30, 2022 | September 30, 2023 | |
Net sales | 24,162,954 | 23,932,698 |
Cost of sales | 18,241,878 | 18,340,466 |
Gross profit | 5,921,075 | 5,592,232 |
Selling, general and administrative expenses | 4,331,022 | 4,150,929 |
Operating profit | 1,590,052 | 1,441,302 |
Non-operating income | ||
Interest income | 5,947 | 52,359 |
Dividend income | 19,584 | 16,366 |
Purchase discounts | 11,847 | 8,899 |
Foreign exchange gains | 648,921 | 384,043 |
Subsidy income | 76,033 | 41,304 |
Other | 53,557 | 87,962 |
Total non-operating income | 815,892 | 590,936 |
Non-operating expenses | ||
Interest expenses | 12,469 | 18,163 |
Other | 4,134 | 3,024 |
Total non-operating expenses | 16,604 | 21,187 |
Ordinary profit | 2,389,340 | 2,011,050 |
Extraordinary income | ||
Subsidy income | 29,472 | 44,048 |
Gain on sale of non-current assets | 41 | 1,134 |
Total extraordinary income | 29,513 | 45,182 |
Extraordinary losses | ||
Loss on sale of non-current assets | 215 | 532 |
Loss on retirement of non-current assets | 51,969 | 1,602 |
Loss on tax purpose reduction entry of non-current assets | 29,472 | 44,048 |
TOB related expenses | - | 115,164 |
Other | - | 8,493 |
Total extraordinary losses | 81,656 | 169,840 |
Profit before income taxes | 2,337,197 | 1,886,393 |
Income taxes - current | 559,251 | 418,874 |
Income taxes - deferred | 4,197 | (4,345) |
Total income taxes | 563,449 | 414,528 |
Profit | 1,773,748 | 1,471,865 |
Profit attributable to non-controlling interests | 12,789 | 5,270 |
Profit attributable to owners of parent | 1,760,959 | 1,466,594 |
5
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen) | ||
Nine months ended | Nine months ended | |
September 30, 2022 | September 30, 2023 | |
Profit | 1,773,748 | 1,471,865 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (31,153) | 181,833 |
Deferred gains or losses on hedges | 297 | 8,462 |
Foreign currency translation adjustment | 1,057,212 | 684,484 |
Remeasurements of defined benefit plans, net of tax | 31,028 | 23,911 |
Total other comprehensive income | 1,057,385 | 898,692 |
Comprehensive income | 2,831,133 | 2,370,557 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 2,787,259 | 2,340,199 |
Comprehensive income attributable to non-controlling | 43,873 | 30,357 |
interests | ||
6
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Seiko PMC Corporation published this content on 20 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2023 05:21:08 UTC.