FOR TRANSLATION PURPOSE ONLY | T&S inc. (4055) |
Summary of Financial Results of FY11/2021 |
Summary of Financial Results
for the Fiscal Year 2021 (FY11/2021)
- Japan Standards ](Non-Consolidated)
January 13, 2022 | ||||
Company name: | T&S inc. | Listing: | Tokyo Stock Exchange | |
Securities code: | 4055 | URL: | https://www.tecsvc.co.jp/ | |
Representative: | President and CEO | Yoshihiro Takekawa | ||
Contact: | Director, Executive Officer and General Manager of Corporate Division | |||
Hiroshi Kinoshita | Tel: +81-45-263-8286 | |||
Scheduled date of the Ordinary General Meeting of Shareholders | February 25, 2022 | |||
Scheduled date of file of Annual Securities Report: | February 28, 2022 | |||
Scheduled date of to commence dividend payments: | February 28, 2022 | |||
Preparation of supplementary material on financial results: | Yes | |||
Holding of financial results meeting: | Yes (For institutional investors and analysts) |
(Amounts less than one million yen are rounded down)
1. Financial results of FY11/2021 (December 1, 2020 until November 30, 2021)
(1) Operating results | (Percentages indicate year-on-year changes) | |||||||||||||||
Net sales | Operating income | Ordinary income | Net income | |||||||||||||
Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | |||||||||
FY11/2021 | 2,732 | 20.5 | 412 | 35.6 | 419 | 37.7 | 294 | 24.7 | ||||||||
FY11/2020 | 2,266 | △1.3 | 304 | 12.9 | 304 | 12.8 | 236 | 28.4 | ||||||||
Net income | Diluted net income | Return on equity | Ordinary income to | Net sales operating | ||||||||||||
per share | per share | total assets | income ratio | |||||||||||||
Yen | Yen | % | % | % | ||||||||||||
FY11/2021 | 39.42 | 38.02 | 21.8 | 24.0 | 15.1 | |||||||||||
FY11/2020 | 35.95 | 32.92 | 28.3 | 26.2 | 13.4 |
(Notes)
- The Company conducted a 2-for-1 stock split on December 1, 2020, and a 1-for-2 stock split on December 1, 2021. Net income per share and diluted net income per share has been calculated on the assumption that conducted the stock split at the beginning of the FY11/2020.
- The company was listed on the Tokyo Stock Exchange Mothers Market on the 7th of August 2020. The average share price for the period from the date of an initial public offering to the end of the FY11/2020 is regarded as the average share price after the adjustment of diluted net income per share of FY11/2020.
(2) Financial position
Total assets | Net assets | Equity ratio | Net assets | ||
per share | |||||
Million Yen | Million Yen | % | Yen | ||
FY11/2021 | 1,987 | 1,495 | 75.2% | 195.87 | |
FY11/2020 | 1,502 | 1,212 | 80.7% | 169.06 | |
(Reference) Shareholders' equity | FY11/2021: 1,495 million yen FY11/2020: 1,212 million yen |
(Notes)
The Company conducted a 2-for-1 stock split on December 1, 2020, and a 1-for-2 stock split on December 1, 2021. Net assets per share is calculated on the assumption that the stock split was conducted at the beginning of FY11/2020. Net assets per share is calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended November 30, 2020.
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FOR TRANSLATION PURPOSE ONLY | T&S inc. (4055) |
Summary of Financial Results of FY11/2021 |
- Cash flow position
Cash flow in | Cash flow in | Cash flow in | Cash and cash | |
equivalents at end of | ||||
operating activities | investment activities | financial activities | ||
period | ||||
Million Yen | Million Yen | Million Yen | Million Yen | |
FY11/2021 | 272 | △2 | △11 | 1,275 |
FY11/2020 | 185 | △9 | 517 | 1,016 |
2. Dividends
Annual dividends per share | Total amount of | Dividend payout | Ratio of | |||||
1Q-end | 2Q-end | 3Q-end | Year-end | Total | dividends to net | |||
dividends (Total) | ratio | assets | ||||||
Yen | Yen | Yen | Yen | Yen | Million yen | % | % | |
FY11/2020 | - | 0.00 | - | 13.50 | 13.50 | 24 | 9.4 | 2.8 |
FY11/2021 | - | 0.00 | - | 8.00 | 8.00 | 30 | 10.1 | 2.2 |
FY11/2022 | - | 0.00 | - | 5.00 | 5.00 | 9.6 | ||
(forecasts) | ||||||||
(Notes)
The Company conducted a 2-for-1 stock split on December 1, 2020, and a 1-for-2 stock split on December 1, 2021. Dividends for the fiscal year ended November 30, 2021 and before are the actual dividends before the stock split.
3. Performance forecasts for FY11/2022 (December 1, 2021 until November 30, 2022)
(Percentages indicate year-on-year changes)
Net sales | Operating income | Ordinary income | Net income | Net income | |||||||
per share | |||||||||||
Full year | Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | Yen | ||
3,100 | 13.4 | 550 | 33.2 | 557 | 32.9 | 391 | 32.7 | 51.82 | |||
(Note)
The Company conducted a 1-for-2 stock split on December 1, 2021.
Net income per share in the earnings forecast considers the effect of this stock split.
- Notes
- Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
1. | Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
2. | Changes in accounting policies due to other reasons (mentioned in 1.): | No |
3. | Changes in accounting estimates: | No |
4. | Restatement of prior period financial statements: | No |
- Number of issued shares (common shares)
- Total number of issued shares at the end of period (including treasury stock)
- Number of treasury stock at the end of the period
- Average number of shares during
the period
FY11/2021 | 7,633,200 | FY11/2020 | 7,171,200 |
Shares | shares | ||
FY11/2021 | - | FY11/2020 | - |
shares | shares | ||
FY11/2021 | 7,472,220 | FY11/2020 | 6,571,209 |
shares | shares | ||
(Note)
The Company conducted a 2-for-1 stock split of common stock on December 1, 2020, and a 2-for-1 stock split of common stock on December 1, 2021. The number of shares issued and treasury stock at end of year, and the average number of shares outstanding during the fiscal year have been calculated on the assumption that the stock split was conducted at the beginning of the FY11/2020.
- Summary of financial results is not covered by audit by a certified public accountant or an auditing firm.
- Explanation regarding appropriate use of performance forecasts and other special notes
(Notes on descriptions about the future)
Descriptions about the future such as performance forecasts contained in this document are based on information currently available to the Company and certain presumptions considered as reasonable, and those are not intended to indicate the Company should assure that it would realize such forecast. Meanwhile, actual performance in the future may differ substantially, influenced by a wide variety of
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FOR TRANSLATION PURPOSE ONLY | T&S inc. (4055) |
Summary of Financial Results of FY11/2021 |
factors. For preconditions for performance forecasts and precaution statements in using such forecasts, please see the appendix, page 3, "1. Qualitative Information regarding the Financial Results: (4) Descriptions regarding prospects such as performance forecasts".
(How to obtain supplementary references regarding financial results) Supplementary material on financial results is concurrently disclosed on TDnet.
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FOR TRANSLATION PURPOSE ONLY | T&S inc. (4055) |
Summary of Financial Results of FY11/2021 |
Table of contents: Appendix
1. Qualitative Information regarding the Financial Results ………………………………………………………………
(1) Descriptions regarding operating results ……………………………………………………………………………
- Descriptions regarding financial position ……………………………………………………………………………
(3) Summary of cash flow for the current fiscal year …………………………………………………………………
- Descriptions regarding prospects such as performance forecasts ……………………………………………………
- Basic policy on the selection of accounting standards …………………………………………………………………
- Financial Statements and Principal Notes. ………………………………………………………………………………
- Balance sheet …………………………………………………………………………………………………………
- Statements of income …………………………………………………………………………………………………
(3) | Statement of changes in net assets ………………………………………………………………………………… |
(4) | Statements on cash flow …………………………………………………………………………………………… |
(5) | Notes to financial statements ……………………………………………………………………………………… |
(Notes regarding the assumption for going concern)……………………………………………………………… | |
(Equity method profit / loss, etc.) ………………………………………………………………………………… | |
(Segment information, etc.) ……………………………………………………………………………………… |
(Information per share) ……………………………………………………………………………………………
(Significant subsequent events) ……………………………………………………………………………………
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FOR TRANSLATION PURPOSE ONLY | T&S inc. (4055) |
Summary of Financial Results of FY11/2021 |
1. Qualitative Information regarding the Financial Results
- Descriptions regarding operating results
During the fiscal year under review, the Japanese economy continued to face a severe condition due to the nationwide spread of the new coronavirus infection, which led to the declaration of a state of emergency and the expansion of areas subject to priority measures to prevent the spread of the disease. In addition to the effects of various policies and the improvements of overseas economies, there were expectations that socioeconomic activities would normalize as vaccinations began to progress in earnest. However, due to the emergence of new mutant strains, the timing of the convergence of the new coronavirus infection is unclear and the situation remains uncertain. Under these circumstances, the importance of IT and the trend of digitalization of business are expanding in corporate activities, such as telecommuting, use of online meetings, use of cloud services, and promotion of DX (Digital Transformation). The Company's business is a single segment of system development and related services but is divided into three categories: solutions, semiconductors, and advanced technology solutions. In the economic environment described above, orders increased in all categories, and we increased sales and profits over the previous fiscal year.
Net sales by category are as follows.
Solution Category
For the current fiscal year, net sales in the Solution category were 2,101,431 thousand yen (up 16.3% year-on-year). Orders for contract development projects from our major customers continued to be strong. In particular, a large order from a semiconductor manufacturer, one of our major customers, for developing an in-plant system contributed to this growth. In addition, the effect of the Totsuka Office, which was opened in October 2020, contributed to a significant increase in sales.
Semiconductor Category
Sales in the semiconductor category were 464,229 thousand yen (up 30.5% from the same period of the previous year). In addition, the number of temporary engineers dispatched to provide maintenance and operation services at semiconductor plants remained strong, as the number of orders from major customers continued to grow against the backdrop of a strong semiconductor market, and requests for further increases in the number of workers resulted in sales growth exceeding 30%.
Advanced Technology Solution Category
Net sales in this category were 167,109 thousand yen (up 60.7% year-on-year).Orders for AI-related R&D support services, support for research papers, and other services continued to grow steadily and orders from new clients. In particular, the expansion of business with NEC Corporation, which began in the previous fiscal year, and the development of new clients resulted in a significant increase in sales, with the growth rate exceeding 60%.
As a result of the above, net sales for the current fiscal year were 2,732,771 thousand yen (up 20.5% year-on-year). Operating income was 412,952 thousand yen (up 35.6% YoY), ordinary income was 419,328 thousand yen (up 37.7% YoY), and net income was 294,567 thousand yen (up 24.7% YoY), as the hiring of engineers progressed as planned and we absorbed the performance-linked bonuses for employees.
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Descriptions regarding financial position (Assets)
Current assets at the end of the current fiscal year totaled 1,869,946 thousand yen, an increase of 462,449 thousand yen over the end of the previous fiscal year. Mainly due to an increase of 258,439 thousand yen in cash and deposits resulting from the posting of net income and increases of 103,578 thousand yen in accounts receivable-trade and 77,160 thousand yen in accounts receivable-other resulting from sales growth. Fixed assets totaled 117,500 thousand yen, an increase of 22,075 thousand yen from the end of the previous fiscal year. An increase in the deferred tax assets was mainly due to allowance for bonuses increase of 25,162 thousand yen.
As a result, total assets amounted to 1,987,447 thousand yen, an increase of 484,524 thousand yen compared to the end of the previous fiscal year.
(Liabilities)
Current liabilities at the end of the current fiscal year totaled 440,851 thousand yen, an increase of 197,246 thousand yen compared to the end of the previous fiscal year.
Mainly due to increases of 87,807 thousand yen in income taxes payable, 60,686 thousand yen in provision for bonuses, and 41,000 thousand yen in accounts payable. Noncurrent liabilities totaled 51,513 thousand yen, an increase of 4,547 thousand yen compared to the end of the previous fiscal year. This was due to an increase of 4,547 thousand yen in reserve for retirement benefits.
As a result, total liabilities amounted to 492,364 thousand yen, an increase of 201,793 thousand yen compared to the end of the previous fiscal year.
(Net Assets)
Total net assets at the end of the current fiscal year were 1,495,082 thousand yen, an increase of 282,731 thousand yen compared to the end of the previous fiscal year. This was mainly due to an increase of 270,364 thousand yen in retained
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T&S Inc. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 06:20:16 UTC.