Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. SMC Corporation
  6. News
  7. Summary
    6273   JP3162600005

SMC CORPORATION

(6273)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Consolidated Financial Highlights for the Second Quarter ended September 30, 2021 [under Japanese GAAP]

11/12/2021 | 01:07am EST

November 12, 2021

Consolidated Financial Highlights for the Second Quarter ended September 30, 2021 [under Japanese GAAP]

Company name :

SMC Corporation

Stock exchange listing :

Tokyo Stock Exchange First Section

Security code :

6273

URL :

https://www.smcworld.com/ir/en/

Representative :

Yoshiki Takada,

President

Contact person :

Masahiro Ota,

Director and Executive Officer

Projected date of filing quarterly report :

November 12, 2021

Projected starting date of dividend payment :

December 1, 2021

1. Consolidated Financial Highlights for the Second Quarter ended September 30, 2021 (April 1, 2021 to September 30, 2021)

(1) Consolidated Operating Results

(Millions of yen)

Second Quarter

Net sales

Operating profit

Ordinary profit

Profit attributable to

ended September 30

owners of parent

2021

358,691

42.3%

118,035

81.5%

126,074

84.7%

90,269

95.0%

2020

251,993

(4.7%)

65,045

(11.5%)

68,272

(6.4%)

46,281

(13.7%)

(Note) Comprehensive income 2Q ended September 30, 2021 :

¥

98,966 million

75.8

2Q ended September 30, 2020 :

¥

56,281 million

535.4

(Yen)

Second Quarter

Net income

Net income per share

ended September 30

per share

(diluted basis)

2021

1,366.16

2020

695.78

(2) Consolidated Financial Positions

(Millions of yen)

Total assets

Net assets

Equity ratio

September 30, 2021

1,636,467

1,458,872

88.9%

March 31, 2021

1,539,871

1,379,987

89.4%

(Reference) Shareholders' equity As of September 30, 2021 :

¥

1,455,452 million

As of March 31, 2021 :

¥

1,376,704 million

2. Dividends

(Yen)

For the year

Dividend per share

ended March 31

1Q

2Q

3Q

4Q

Total

2021 (Actual)

200.00

300.00

500.00

2022 (Actual)

300.00

NA

NA

NA

2022 (Projected)

NA

NA

300.00

600.00

(Note)

Revision of dividends forecast during this period :

None

― 1 ―

SMC Corporation

3. Forecasts of Consolidated Operating Results for the Year ending March 31, 2022

(Millions of yen, except per share figures)

Profit

Net income

Net sales

Operating profit

Ordinary profit

attributable to

per share

owners of parent

(Yen)

Year ending

700,000

26.8%

218,000

42.2%

228,000

32.7%

163,000

33.8%

2,466.89

March 31, 2022

(Note)

Revision of forecasts of operating results during this period : Yes

  • Notes
  1. Changes in significant subsidiaries during the second quarter ended September 30, 2021 : None
  2. Adoption of special accounting methods for presenting quarterly consolidated financial statements : Yes
  3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
  1. Changes in accounting policies applied due to revisions of accounting standards : Yes
  2. Changes in accounting policies other than the above : None
  3. Changes in accounting estimates : None
  4. Retrospective restatement : None
  1. Number of shares issued
  1. Number of common shares issued (including treasury shares)

As of September 30, 2021

67,369,359

As of March 31, 2021

67,369,359

2. Number of treasury shares

As of September 30, 2021

1,294,197

As of March 31, 2021

1,294,348

3. Average number of common shares for the six months ended

April 1, 2021 to September 30, 2021

66,075,009

April 1, 2020 to September 30, 2020

66,517,609

(Note) The company's shares held by the Board Benefit Trust (BBT) for the Directors' Stock Compensation Plan (3,000 shares as of September 30, 2020 and as of March 31, 2021, and 2,600 shares as of September 30, 2021) is included in the number of treasury shares, which is excluded in the calculation for the above: 2. Number of treasury shares and 3. Average number of common shares for the six months ended.

These quarterly consolidated financial highlights are not subject to quarterly review procedures by the independent accounting auditor.

Explanation of appropriate use of financial forecasts; other special items

  1. The revised forecasts of operating results for the fiscal year ending March 31, 2022 (consolidated) are shown in this release.
  2. Forecasts are based on information and certain premises that the Company considers to be reasonable at the time these consolidated quarterly financial highlights are released.
    Some factors could cause actual results to differ from expectations.

― 2 ―

SMC Corporation

1. Qualitative Information about the Quarterly Results

(1) Operating Results

During the period up to the second quarter of the fiscal year 2021 (from April 1, 2021 to September 30, 2021), the global economy and the capital investment demands within a wide range of industries have seen recoveries along with the Coronavirus (COVID-19) vaccine roll out. However, a high degree of future uncertainty still remains with the re-expansion of the new virus mutations, shortages of semi-conductors, inflation in the prices for raw material, logistics stagnations, power supply shortages in China, and other various issues.

The demands for automatic control equipment within the semi-conductor industry remained high in China and in other regions like Japan, North America, Europe, and in Asia. Even though production was affected by the shortages of semi-conductors, the automotive and machine tools performed well in general with capital expenditure investments. Also, the food and medical equipment industries remained strong overall within the market, with new demands for labor-savings and factory automation.

Within these business environment, even though the SMC group's production was slightly affected by part shortages, with the incorporation of BCP (Business Continuity Plan) initiatives, SMC has put forth an effort in maintaining and expanding its product supply capabilities. The Group has also continued to develop new products that are smaller, lighter, and offer more significant energy-saving features. In addition, the Group has continued to aggressively promote these products through its global sales network.

As a result, the consolidated net sales for the Group were 358,691 million yen (increased by 42.3% from the previous corresponding period) and operating profit was 118,035 million yen (increased by 81.5%) due to the revenue increase. Despite the decrease in interest income, with an impact from the depreciation of the yen against the US dollar (which was an appreciation of yen against the US dollar in the previous corresponding period), ordinary profit was 126,074 million yen (increased by 84.7%), profit before income taxes was 125,826 million yen (increased by 85.5%), and profit attributable to owners of parent was 90,269 million yen (increased by 95.0%).

ROE became 6.4%, increased by 2.8 points from the previous corresponding period.

(2) Financial Positions

Total assets as of the end of the second quarter of the fiscal year 2021 were 1,636,467 million yen, a 96,596 million yen increase from the previous fiscal year end. Cash and deposits were 657,270 million yen, a 27,979 million yen increase from the previous fiscal year end due to the increase in profit. Notes and accounts receivable- trade were 194,121 million yen, a 19,187 million yen increase resulted from the increase in revenue. With the increased retained earnings, the Company applied increased cash and deposits for aggressive capital expenditures and land acquisition for the construction of the new head office to further enhance the Group's administration functions, resulted in an increase in property, plant and equipment which was 240,065 million yen, a 41,524 million yen increase from the previous fiscal year end.

Total liabilities were 177,595 million yen, increased by 17,712 million yen from the previous fiscal year end. Notes and accounts payable-trade were 53,534 million yen, a 9,442 million yen increase from the previous fiscal year end, resulted from the increase in revenue.

Total net assets were 1,458,872 million yen, increased by 78,884 million yen from the previous fiscal year end, due to the increases in retained earnings resulted from the increase in profit.

Equity ratio became 88.9%.

― 3 ―

SMC Corporation

(3) Consolidated Forecasts and Other Forward-Looking Information

Since the demands in the semiconductor related industries are increasing at a pace far exceeding the Company's expectations, revisions to the consolidated forecast for the fiscal year 2021, announced in the "Notice on the Revision to the Financial Forecasts" issued on August 11, 2021 are made as below.

The average exchange rates for the fiscal year as a premise of the revised forecasts have not changed:

1 US$ = 109 yen, 1 EUR = 130 yen and 1 CNY = 17 yen.

Revision to consolidated financial forecasts for the fiscal year ending March 31, 2022

(Period from April 1, 2021 through March 31, 2022)

Net Sales

Operating

Ordinary

Profit attributable

Net Income

Profit

Profit

to owners of parent

per share

Previous Forecasts (A)

(Millions of Yen)

(Millions of Yen)

(Millions of Yen)

(Millions of Yen)

(Yen)

680,000

200,000

210,000

150,000

2,270.15

Revised Forecasts (B)

700,000

218,000

228,000

163,000

2,466.89

Increased / Decreased Amount

20,000

18,000

18,000

13,000

(B-A)

Rate of Change (%)

2.9

9.0

8.6

8.7

Results of the FY 2020

552,178

153,355

171,827

121,790

1,831.98

(Year ended March 31, 2021)

― 4 ―

SMC Corporation

2. Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheet

(Millions of yen)

Year end

Second Quarter end

-Previous year

-Current year

As of March 31, 2021 As of September 30, 2021

[ASSETS]

Current assets

Cash and deposits

629,291

657,270

Notes and accounts receivable-trade

174,934

194,121

Securities

11,256

11,289

Merchandise and finished goods

112,131

115,671

Work in process

21,314

22,502

Raw materials and supplies

115,306

118,596

Other

33,470

26,756

Allowance for doubtful accounts

(751)

(692)

Total current assets

1,096,953

1,145,517

Non-current assets

Property, plant and equipment

Buildings and structures, net

81,450

87,785

Machinery, equipment and vehicles, net

38,515

40,544

Land

38,812

68,757

Other, net

39,761

42,978

Total property, plant and equipment

198,540

240,065

Intangible assets

11,389

13,588

Investments and other assets

Investment securities

72,383

72,696

Insurance funds

145,373

149,423

Other

16,719

16,707

Allowance for doubtful accounts

(1,488)

(1,531)

Total investments and other assets

232,987

237,296

Total non-current assets

442,917

490,950

Total assets

1,539,871

1,636,467

― 5 ―

SMC Corporation

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SMC Corporation published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 06:06:11 UTC.


ę Publicnow 2021
All news about SMC CORPORATION
01/14SMC Corporation Exhibits at World of Concrete in Las Vegas, Jan. 18-20
AQ
2021NEW PRODUCTS : High Purity Air Operated Chemical Liquid Valve / JLV20/30
PU
2021NEW PRODUCTS : Booster Regulator / VBA10A/11A
PU
2021NEW PRODUCTS : Air Cylinder / CS2
PU
2021NEW PRODUCTS : Plug-in Compact 5-Port Solenoid Valve / JSY1000/3000/5000
PU
2021NEW PRODUCTS : Flat Head Screwdriver Adjustable Metal Speed Controller with One-touch Fitt..
PU
2021SMC Exhibits at SEMICON West 2021 Hybrid, Dec 7 – 9 in San Francisco
AQ
2021Japanese shares fall on Omicron, Fed worries
RE
2021SMC : Presentation of Financial Results for the Second Quarter ended September 30, 2021 (F..
PU
2021SMC Logs 95% Surge in Fiscal H1 Profit as Global Demand, Economy Rebounds
MT
More news
Analyst Recommendations on SMC CORPORATION
More recommendations
Financials
Sales 2022 714 B 6 231 M 6 231 M
Net income 2022 172 B 1 497 M 1 497 M
Net cash 2022 615 B 5 362 M 5 362 M
P/E ratio 2022 26,1x
Yield 2022 0,97%
Capitalization 4 459 B 38 918 M 38 899 M
EV / Sales 2022 5,38x
EV / Sales 2023 4,92x
Nbr of Employees 20 619
Free-Float -
Chart SMC CORPORATION
Duration : Period :
SMC Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SMC CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 67 490,00 JPY
Average target price 81 233,33 JPY
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
Yoshiki Takada President & Representative Director
Yoshitada Doi Director, Executive Officer & GM-Technology
Susumu Maruyama Director, Executive Officer & Head-Administration
Masanobu Kaizu Independent Outside Director
Toshiharu Kagawa Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SMC CORPORATION-11.93%39 658
COGNEX CORPORATION-9.13%12 493
SHIMADZU CORPORATION-14.83%10 702
MKS INSTRUMENTS, INC.3.74%10 021
WUHAN GUIDE INFRARED CO., LTD.-4.01%8 555
RENISHAW PLC-2.64%4 631