Summary of Consolidated Financial Results of Sumitomo Osaka Cement Co., Ltd.
for the 1st Half Fiscal 2022, Ending March 31, 2022 (Japan GAAP)
November11,2021 | |||||||||||||||||||
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) | Tatsuaki Teranishi (TEL) 03-5211-4505 | ||||||||||||||||
Scheduled | date | to submitNovember 12, 2021 | Scheduled | date to commence December 1. 2021 | |||||||||||||||
the Quarterly Report | dividend payments | ||||||||||||||||||
Availability of supplementary briefing | :Available | ||||||||||||||||||
material on quarterly financial results | |||||||||||||||||||
Scheduled date of Quarterly Financial:Available | |||||||||||||||||||
Results Briefing Session | (For | analysts) | |||||||||||||||||
(Figures are rounded down to the nearest million yen) | |||||||||||||||||||
1.Consolidated Financial Results for the second quarter | |||||||||||||||||||
(From April 1, 2021 to September 30, 2021) | |||||||||||||||||||
(1)Consolidated operating results(cumulative) | (% indicated changes from the previous | ||||||||||||||||||
corresponding term) | |||||||||||||||||||
Quarterly net | |||||||||||||||||||
Net sales | Operating profit | Ordinary profit | profit attributable | ||||||||||||||||
to owners of the | |||||||||||||||||||
parent | |||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||||
2022 the second quarter | 89,094 | - | 5,183 | △13.9 | 6,979 | 5.9 | 6,042 | 34.2 | |||||||||||
term | |||||||||||||||||||
2021 the second quarter | 112,119 | △6.4 | 6,021 | △5.4 | 6,589 | △3.9 | 4,501 | △1.2 | |||||||||||
term | |||||||||||||||||||
(Note) Comprehensive | FY ending March 5,729Millions | (90.6%) | FY ending March 2021 | 3,005 Millions ( △ | |||||||||||||||
profit | 2022 the second | of yen | the second quarter | of yen | 62.5%) | ||||||||||||||
quarter | |||||||||||||||||||
Quarterly net | |||||||||||||||||||
Quarterly net | profit per share | ||||||||||||||||||
profit per share | after adjusting | ||||||||||||||||||
potential share | |||||||||||||||||||
Yen Sen | Yen | Sen | |||||||||||||||||
FY | ending | March,2022 | 162.13 | ― | |||||||||||||||
The second quarter | |||||||||||||||||||
FY | ending | March,2021 | 116.71 | ― | |||||||||||||||
the second quarter | |||||||||||||||||||
Accounting Standard for Revenue Recognition" (Corporate Accounting Standard No. 29, March 31, 2020) has been applied from the beginning of the first quarter of the current consolidated accounting period. The year-on- year rate of change in sales for the second quarter of the fiscal year ending March 2022 is not shown because it will have a significant impact on sales.
(2)Consolidated Financial Status
Total assets | Net assets | Net assets ratio | |||||||
Millions of yen | Millions of yen | % | |||||||
FY ending March,2022 | 324,911 | 207,233 | 63.1 | ||||||
the second quarter term | |||||||||
FY ending March,2021 | 329,650 | 205,827 | 61.8 | ||||||
(Reference) Net | 2022 the second | 205,076 | Millions | FY ending | 203,731 Millions | ||||
assets | quarter | of yen | March | of yen | |||||
2021 |
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2.Dividend Status
Annual Dividend | ||||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | ||||||
Yen | Sen | Yen Sen | Yen Sen | Yen Sen | Yen Sen | |||||
FY ending March,2021 | ― | 60.00 | ― | 60.00 | 120.00 | |||||
FY ending March,2022 | ― | 60.00 | ||||||||
End of March,2022 | ― | 60.00 | 120.00 | |||||||
(Forecast) | ||||||||||
(Note) Revisions from the most recently published dividend forecast | :None |
3.The fiscal year ending March,2022 Consolidated Performance Forecast (From April 1, 2021 to March 31, 2022)
(% indicates changes from the previous corresponding term)
Net profit | |||||||||||
Net sales | Operating profit | Ordinary profit | attributable to | Net profit | |||||||
owners of the | per share | ||||||||||
parent | |||||||||||
Millions of | % | Millions of | % | Millions of | % | Millions of | % | Yen Sen | |||
yen | yen | yen | yen | ||||||||
Fiscal year 2022 | 186,300 | - | 8,500 | △48.9 | 10,000 | △43.3 | 8,000 | △31.7 | 214.91 | ||
(Note) 1.Presence or absence of revisions from the most recently announced earnings forecast: Yes 2."Accounting Standards for Revenue Recognition Standards" (Corporate Accounting Standard No. 29, March 31, 2020), etc. for the first quarter of the current consolidated fiscal year.
Since it has been applied from the beginning of the period, the above consolidated earnings forecast is the amount after applying the relevant accounting standard. The rate of increase / decrease in sales from the same quarter of the previous year is not shown because it will have a large impact on sales.
※ Notes | |
( 1 ) Changes in significant subsidiaries during this consolidated | : None |
cumulative quarter | |
(Changes od subsidiaries involving changes in the scope of consolidation)
New -Company | (Name of | Excluded -Company | (Name of |
Company) | company) | ||
(2)Adoption of specific accounting treatments to the preparation :None of quarterly consolidated financial statements
(3)Changes in accounting policies, changes in accounting estimation or restatements
① Changes in accounting policies due to the revision of accounting standards
② Changes in accounting policies other than ①
③ Changes in accounting estimation
④ Restatements | : None |
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(4) Numbers of Shares Issued(Common stock)
① Total number of | issued shares |
(including treasury | stock) |
② Total number of treasury stocks
③ Average number of shares during the period(cumulative)
FY ending March, | FY ending March, | ||
2022 | 37,243,217Shares | 2021 | 38,643,217Shares |
2Q | |||
FY ending March, | FY ending March, | ||
2022 | 70,450Shares | 2021 | 896,372Shares |
2Q | |||
FY ending March, | FY ending March, | ||
2022 | 37,269,479Shares | 2021 | 38,565,272Shares |
2Q | 2Q | ||
※ 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 "1, Qualitative Information on Quarterly Financial Results" and "(3) Qualitative Information on Forecast of Consolidated Financial Results and Other Forward-Looking Information" on page 2 of the Appendix
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- Table of Contents of Appendix
1.Qualitative Information on Quarterly Financial Results | ………………………………5 | |
(1) | Qualitative information on consolidated operational results | …………………………5 |
(2) | Qualitative information on consolidated financial position | ……………………………5 |
(3) | Qualitative information on consolidated financial results | |
and other forward-looking information | …………………………………………6 |
2.Notes on Quarterly Consolidated Financial Statements and Principal ……………………7
(1)Quarterly consolidated balance sheet …………………………………………………………7
(2)Quarterly consolidated profit and loss calculation and comprehensive profit ……9
(3)Quarterly consolidated cash-flow calculation ………………………………………………11
(4)Notes to Quarterly Consolidated Financial Statements ……………………………………13
(Notes to going concern assumption) …………………………………………………………13
(Notes to significant changes in the amount of shareholders' equity)……………… 13
(Accounting policy changes) ………………………………………………………………………13
(Segment information) ……………………………………………………………………………14
3.Supplementary Information …………………………………………………………………………16
(1) Consolidated segment profit and loss(Period comparison) ……………………………16
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1.Qualitative Information on Quarterly Financial Results
(1)Qualitative information on consolidated operational results
During this second quarter-consolidated period (from April to September, 2021), the Japanese economy continued to face difficult conditions due to COVID-19, although there were signs of a partial recovery due to the effects of the government's economic measures and other factors and improvements in overseas economies.
In the cement industry, domestic demand for cement fell 1.9% year on year, to 18,696 thousand tons, as public-sector demand declined partly due to a shortage of skilled workers, despite an increase in private- sector demand due to an increase in private-sector capital investment as a result of redevelopment work in urban areas. Exports, on the other hand, increased 8.5% year on year. As a result, total sales volume by domestic manufacturers, including exports, increased 0.4% year on year to 24,395 thousand tons.
In this environment, the Group launched its 2020-22Medium-Term Management Plan in the fiscal year of 2020. In the cement-related business (Cement, mineral products, and construction materials), we put our efforts to secure volume including exports, and as part of our efforts to expand related oversea businesses, we focused on launching overseas cement business. A cement terminal went into operation at an Australian operating company in which we have a stake. In the high-performance products business (opto-electronics, new materials, and battery materials), we continued to accurately respond to customer needs and strengthened our research and development efforts to develop new products. In addition, as an environmental measure, we worked to increase the volume of incinerated ash received from general waste and made capital investments to increase the volume of waste plastic received.
We have also endorsed the Task Force on Climate-related Financial Disclosure (TCFD) and joined the TCFD Consortium. Going forward, we will continue to work to combat climate change focusing on reducing CO2 emissions, and to promote information disclosure based on the TCFD.
As a result of the above, the Group's operating results were as follows,
Although cement sales volume and other factors increased year on year, by applying the "Account Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020: hereinafter referred to as the "Accounting Standard for Revenue Recognition"), net sales resulted in a decrease of 23,025 million yen compared to the same period of the previous fiscal year to 89,094 million yen. Ordinary income was 6,979 million yen, an increase of 389 million yen from the same period of the previous fiscal year, mainly due to the recording of dividends from overseas investees, and net income attributable to stakeholders of the parent company was 6,042 million yens, an increase of 1,541 million yen from the period of the previous fiscal year, mainly due to the recording of a gain on sales of investment securities.
The effect of adopting the revenue recognition accounting standard was a decrease of 28,899 million yen in net sales. For details, please refer to "2. Quarterly Consolidated Fiscal Statements and Main Notes (4) Notes to Quarterly Consolidated Fiscal Statements (Change in Accounting Policies)".
(2)Qualitative Information on Consolidated Financial Position
Total assets at the end of the second quarter of the current consolidated fiscal year were 324,911 million yen, a decrease of 4,739 million yen compared to the end of the previous consolidated fiscal year.
The main increase / decrease was a decrease in cash and deposits of 1,681 million yen and a decrease in bills receivable and accounts receivable of 3,090 million yen.
Liability was 117,678 million yen, a decrease of 6,145 million yen compared with the end of the previous consolidated fiscal year. The main increase / decrease was a decrease in unpaid corporate tax etc. of 1,115 million yen and a decrease I long-term debt of 2,455 million yen.
Net assets were 207,233 million yen, an increase of 1,405 million yen compared with the end of the previous consolidated fiscal year. The main increase/decrease was a decrease in treasury stock (increase in net assets) of 3,058 million yen due to the acquisition and cancellation of treasury stock, and a decrease
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Sumitomo Osaka Cement Co. Ltd. published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 07:09:05 UTC.