Summary of Consolidated Financial Results for the Fiscal Year Ending March 2023
(JGAAP) | May 11,2023 | ||||
Company name | Sumitomo Osaka Cement Co., Ltd | Stock Exchange Listing | Tokyo | ||
Stock code | 5232 | URL https://www.soc.co.jp/ | |||
Representative | (Job Title) Managing Director | (Name) | Hirotsune Morohashi | ||
Contact Manager | (Job Title) General Manager | (Name) | Chitaru Imai | (TEL) 03-6370-2725 |
Scheduled date for the Ordinary General Meeting of Shareholders
Scheduled date of submission of annual securities report
June 28, 2023 Scheduled date to commence June 29, 2023 dividend payments
June 28, 2023
Availability of preparation of | :Available | |||||||||||||||||
supplementary explanatory materials for | ||||||||||||||||||
financial results | ||||||||||||||||||
Availability to hold financial results:Available | ||||||||||||||||||
briefings | ||||||||||||||||||
(Figures are rounded down to the nearest million yen) | ||||||||||||||||||
1.Consolidated Financial Results for the Fiscal Year ending March, 2023 | ||||||||||||||||||
(From April 1, 2022 to March 31, 2023) | ||||||||||||||||||
(1)Consolidated operating results | (% indicated changes from the previous | |||||||||||||||||
corresponding term) | ||||||||||||||||||
Net income | ||||||||||||||||||
Net sales | Operating income | Ordinary income | attributable to | |||||||||||||||
owners of the | ||||||||||||||||||
parent | ||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||
Fiscal year ending | 204,705 | 11.1 | △8,555 | - | △7,849 | - | △5,719 | - | ||||||||||
March, 2023 | ||||||||||||||||||
Fiscal year ending | 184,209 | - | 6,878 | △58.6 | 9.834 | △44.3 | 9,674 | △17.5 | ||||||||||
March, 2022 | ||||||||||||||||||
(Note) Comprehensive FY ending March, △12,425Millions (-%) | FY ending March, | 2022 12,207 | Millions ( 17.1%) | |||||||||||||||
profit | 2023 | of yen | of yen | △ | ||||||||||||||
Net imcome | Ratio of | |||||||||||||||||
Net income per | per share after | Return on | ordinary | Operating | ||||||||||||||
share | adjusting | equity | income to net | income margin | ||||||||||||||
potential share | assets | |||||||||||||||||
Yen Sen | Yen | Sen | % | % | % | |||||||||||||
FY ending March, 2023 | △166.79 | ― | △3.0 | △2.3 | △4.2 | |||||||||||||
FY ending March, 2022 | 262.77 | ― | 4.8 | 3.0 | 3.7 | |||||||||||||
(Reference) Equity in earnings of affiliates: The fiscal year ending March, 2023 | △127 million yen | |||||||||||||||||
The fiscal year ending March, 2022 | 242 million yen |
(Note) "Accounting Standards for Revenue Recognition" (Corporate Accounting Standards No. 29, March 31, 2020), etc. is applied from the beginning of the fiscal year ending March 2022. As this has a significant impact on sales, the percentage change in sales for the fiscal year ending March 31, 2022 is not stated.
(2)Consolidated Financial Status
Total assets | Net assets | Net assets ratio | Net assets per share | |||||
Millions of yen | Millions of yen | % | Yen Sen | |||||
FY ending March, 2023 | 356,558 | 184,591 | 51.2 | 5,326.24 | ||||
FY ending March, 2022 | 331,107 | 203,173 | 60.7 | 5,778.40 | ||||
(Reference) Net The fiscal year ending 182,438 | Millions | FY ending | 200,964 Millions | |||||
assets | March, 2023 | of yen | March, 2022 | of yen |
(3)Consolidated Cash Flow Status
Financial Cash | Cash and cash | |||
Operating cash flow | Investment Cash flow | equivalents at end | ||
flow | ||||
of period | ||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
FY ending March, 2023 | △16,146 | △19,818 | 37.292 | 14,500 |
FY ending March, 2022 | 18,255 | △16,062 | △7,995 | 13,085 |
2.Dividend Status
Annual Dividend | Total | Payout | Dividend on | |||||||
dividend | ratio | equity ratio | ||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | ||||||
(total) | (Consolidated) | (Consolidated) | ||||||||
Yen | Sen | Yen Sen | Yen Sen | Yen Sen | Yen Sen | Millions | % | % | ||
of yen | ||||||||||
FY ending March,2022 | ― | 60.00 | ― | 60.00 | 120.00 | 4,320 | 45.7 | 2.1 | ||
FY ending March,2023 | ― | 60.00 | ― | 60.00 | 120.00 | 4,113 | - | 2.2 | ||
End of March,2024 | ― | 60.00 | ― | 60.00 | `120.00 | 68.5 | ||||
(Forecast) | ||||||||||
3.The fiscal year ending March,2024 Consolidated Performance Forecast (From April 1, 2023 to March 31, 2024)
(% indicates changes from the previous corresponding term)
Net income | ||||||||||
Net sales | Operating income | Ordinary income | attributable to | Net imcome | ||||||
owners of the | per share | |||||||||
parent | ||||||||||
2ndQuarter | Millions of | % | Millions of | % | Millions of | % | Millions of | % | Yen Sen | |
(Cumulative) | yen | 13.7 | yen | - | yen | - | yen | - | △58.39 | |
108,800 | △2,100 | △1,700 | △2,000 | |||||||
Full year | 230,000 | 12.4 | 6,100 | - | 6,500 | - | 6,000 | - | 175.17 | |
※ Notes
( 1 ) Changes in significant subsidiaries during this consolidated cumulative quarter
(Changes in specific subsidiaries involving changes in the scope of consolidation)
(2)Changes in accounting policies, changes in accounting estimation or restatements
① | Changes | in accounting policies due to | the : None | |
revision of | accounting standards | |||
② | Changes | in | accounting policies other than ① | : None |
③ | Changes | in | accounting estimation | : None |
④ | Restatements | : None | ||
(3) | Numbers of Shares Issued(Common stock) |
① Number of shares outstanding at the end of the period(including treasury stock)
② Number of treasury stock at the end of the period
③ Average number of shares during the period
(Reference) Overview of individual performance
FY ending March, | 34,329,517Shares | FY ending March, | 37,243,217Shares |
2023 | 2022 | ||
FY ending March, | 76,673Shares | FY ending March, | 2,464,655Shares |
2023 | 2022 | ||
FY ending March, | 34,295,232Shares | FY ending March, | 36,816,557Shares |
2023 | 2022 | ||
1. Individual performance of FY ending March, 2023 (from April 1, 2022 to March 31, 2023)
(1) Individual operating results
(% indicates year-on-year change)
Sales | Operating income | Ordinary income | Net income | |||||||||
FY ending | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||
March, 2023 | 166,654 | 13.9 | △13,257 | - | △12,526 | - | △9,538 | - | ||||
FY ending | 146,262 | - | 2,279 | △81.3 | 5,096 | △61.8 | 7,145 | △21.5 | ||||
March, 2022 | ||||||||||||
Net income | Diluted net income | |||||||||||
per share | per share | |||||||||||
FY ending | Yen | sen | Yen | sen | ||||||||
March, 2023 | △278.13 | - | ||||||||||
FY ending | 194.09 | - | ||||||||||
March, 2022 | ||||||||||||
(Note) "Accounting Standards for Revenue Recognition" (Corporate Accounting Standards No. 29, March 31, 2020), etc. will be applied starting with models from the fiscal year ending March 2022. Since this will have a significant impact on sales, we have not stated the year-on-year change in sales for the fiscal year ending March 31, 2022.
(2) Individual Financial Status
Total assets | Net assets | Capital adequacy | Net assets | ||||||||||
ratio | per share | ||||||||||||
Million yen | Million yen | % | Yen sen | ||||||||||
FY ending | 303,883 | 138,713 | 45.6 | 4,049.69 | |||||||||
March, 2023 | |||||||||||||
FY ending | 282,399 | 160,913 | 57.0 | 4,626.80 | |||||||||
March, 2022 | |||||||||||||
(Reference) Net assets FY ending March, 2023 138,713 million yen | FY ending March, 2022 160,913 million yen | ||||||||||||
2. Individual Earnings forecast for FY ending March, 2024 (from April 1, 2023 to March 31, 2024) | |||||||||||||
(% indicates year-on-year change) | |||||||||||||
Sales | Ordinary income | Net income | Net income per | ||||||||||
share | |||||||||||||
Second quarter | Million yen | % | Million yen | % | Million yen | % | Yen sen | ||||||
(cumulative) | 90,400 | 16.2 | △2,300 | - | △2,000 | - | △58.39 | ||||||
full year | 193,900 | 16.3 | 3,200 | - | 4,000 | - | 116.7 | ||||||
※ The quarterly Financial Reports are outside of the scope of quarterly review by certified public accountants and audit corporations
※ Explanation for the appropriate use of performance forecasts and other special notes:
The statements regarding forecast of financial results in this report are based on the information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. For the suppositions that from the assumptions for profit forecast and cautions concerning the user thereof, please refer to page 3 of the Appendix
- Table of Contents of Appendix
1.Overview of operating results, etc. ……………………………………………………………2
(1) Overview of operating results for the current fiscal year …………………………………2
- Overview of financial results for the current fiscal year ……………………………………3
- Outlook for next fiscal year ………………………………………………………………………3
- Basic Policy on Profit Distribution and Dividends for Current and Next Fiscal Years …3 2. Basic Approach to Selecting Accounting Standard …………………………………………………4 3.Notes on Consolidated Financial Statements and Principal ……………………………………5
(1)Consolidated balance sheet ………………………………………………………………………… 5
(2)Consolidated income and loss calculation and comprehensive income …………………… 7
- Consolidated Statement of Changes in Equity ……………………………………………………8
- Consolidated Statements of Cash Flows ……………………………………………………………11 (5)Notes to Consolidated Financial Statements ………………………………………………………13
(Notes to going concern assumption) …………………………………………………………13
(Change display method) ………………………………………………………………………………13
(Segment information) …………………………………………………………………………………13
(Information per share) ………………………………………………………………………………17
(Subsequent events matter) …………………………………………………………………………17
3.Supplementary Information …………………………………………………………………………18
(1) Consolidated segment income and loss(Period comparison) ………………………………18
- Individual financial statements ……………………………………………………………………19 (Individual balance sheet) …………………………………………………………………………19 (Individual income statement) ……………………………………………………………………19 (Individual statements of changes in equity, etc.) …………………………………………20
- 1 -
1.Overview of operating results, etc.
(1) Overview of operating results for the current fiscal year
In the current fiscal year, the Japanese economy was affected by rising prices due to exchange rate trends, etc., but the impact of the COVID-19 infection was easing, and there were also improvements in overseas economies and the effects of the government's economic measures. As a result, a moderate recovery continued.
In the cement industry, although private sector demand increased due to an increase in private sector capital investment due to redevelopment projects in urban areas, etc., public sector demand decreased due to a decrease in the budget for public works related expenses and a labor shortage. The domestic cement demand decreased by 1.6% from the previous term to 37,280,000 tons. Exports, on the other hand, fell 29.1% year on year. As a result, the total sales volume of domestic manufacturers, including exports, fell 8.0% from the previous fiscal year to 45,402,000 tons.
Under these circumstances, based on the "FY2020-2022Medium-Term Management Plan," which ends in the current fiscal year, the Group has been implementing various measures as its business strategy: in the Cement-related business (Cement, Mineral resources, and Cement-related products), "improving the profitability of cement and solidification materials and developing the business base" and "expanding related businesses," and in the High-performance products business (Optoelectronics, and Advanced materials), "securing the competitive advantage of existing main products and developing new products," "strengthen environmental measures" and "work to reduce CO2 emissions" as environmental measures.
As a result of the above, net sales for the current fiscal year were 204,705 million yen, an increase of 11.1% from the previous fiscal year, due to increased sales in the cement business and the Advanced materials business.
However, profits decreased by 17,683 million yen compared to the previous fiscal year, resulting in an ordinary loss of 7,849 million yen due to decreased profits in the cement business. In addition, although gains on sales of investment securities were recorded, net loss attributable to owners of the parent was 5,719 million yen, a year-on-year deterioration of 15,394 million yen.
An overview by business is as follows.
Cement business
Although the sales volume was lower than the previous term, the domestic selling price was raised in response to the cost increase, resulting in sales of 140,344 million yen, an increase of 13,724 million yen (10.8%) from the previous term. However, due to soaring coal prices and other factors, operating income was 19,542 million yen, a year-on-year deterioration of 17,160 million yen.
Mineral resources business
Net sales increased 1,060 million yen (8.6%) year on year to 13,370 million yen due to increased sales of limestone for overseas and domestic steel markets. Operating income was 2,448 million yen, an increase of 184 million yen (8.1%) from the previous fiscal year.
Cement-related products business
Sales increased by 1,384 million yen (6.7%) year-on-year to 22,107 million yen due to an increase in ground improvement work. However, operating income was 1,511 million yen a decrease of 306 million yen (16.9%) due to a decrease in the sales volume of secondary concrete products and an increase in raw material costs.
Optoelectronics business
Due to a decrease in the sales volume of optical communication parts for the new transmission method, net sales were 2,385 million yen, a decrease of 1,382 million yen (36.7%) from the previous fiscal year. Operating loss was 129 million yen, a deterioration of 228 million yen from the previous fiscal year.
- 2 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Sumitomo Osaka Cement Co. Ltd. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2023 09:25:10 UTC.