Takakita : Summary of Non-Consolidated Financial Results for the Year Ended March 31, 2023

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 Non-Consolidated Financial Results

for the Year Ended March 31, 2023

(Based on Japanese GAAP)

																							April 28, 2023
Company name:	Takakita Co., Ltd.
Stock exchange listing: Tokyo, Nagoya
Stock code:	6325	URL	https://www.takakita-net.co.jp
Representative:	Representative Director and President	Mitsuo Matsumoto
	Assistant General Manager,Accounting
Inquiries:	Department,Corporate Administration	Kazushi Kawabe			TEL [phone]
	Division
Scheduled date of ordinary general meeting of shareholders:	June 22, 2023
Scheduled date to file Securities Report:						June 22, 2023
Scheduled date to commence dividend payments:			June 23, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results meeting:								Yes			(for institutional investors)
														(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
(1) Non-consolidated operating results														Percentages indicate year-on-year changes
				Net sales			Operating profit	Ordinary profit			Profit
			Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen		%
Year ended March 31, 2023			7,730		10.0		609		15.0			673		13.5			476		19.0
Year ended March 31, 2022			7,026		8.0		529		32.5			593		30.3			400		24.0
			Earnings per share		Diluted earnings per		Profit/equity			Ordinary profit/total	Operating profit/net
									share											assets			sales
					Yen			Yen				%						%				%
Year ended March 31, 2023			42.34		41.88					6.9						7.6				7.9
Year ended March 31, 2022			34.75		34.43					6.0						7.1				7.5
(2) Non-consolidated financial position
				Total assets			Net assets			Equity ratio		Net assets per share
				Millions of yen	Millions of yen							%					Yen
As of March 31, 2023							9,113		7,052							76.7					630.46
As of March 31, 2022							8,647		6,899							79.2					595.88
(3) Non-consolidated cash flows
				Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
			operating activities	investing activities	financing activities		at end of period
				Millions of yen	Millions of yen			Millions of yen		Millions of yen
Year ended March 31, 2023						(15)						(85)							(325)					778
Year ended March 31, 2022						702						(200)							(158)					1,204
2. Cash dividends
								Annual dividends per share						Total cash	Dividend payout	Ratio of dividends
																			ratio (Non-	to net assets (Non-
			1st quarter-end	2nd quarter-end	3rd quarter-end		Fiscal year-end	Total			dividends (Total)	consolidated)	consolidated)
				Yen			Yen	Yen					Yen		Yen	Millions of yen	%			%
Year ended March 31, 2022			-		5.00	-					5.00		10.00			114	28.8			1.7
Year ended March 31, 2023			-		5.00	-					8.00		13.00			144	30.7			2.1
Year ending March 31, 2024			-			5.00	-					5.00		10.00				25.8
(Forecast)

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3. Forecast of non-consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit		Earnings per share
Six months ending	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
4,500	17.5	450	16.5	475	14.7	320	14.6	28.84
September 30, 2023
Full year	8,000	3.5	600	(1.5)	650	(3.5)	430	(9.7)	38.76

4. Notes

(1) 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

(2) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of March 31, 2023	14,000,000	shares	As of March 31, 2022	14,000,000	shares
Number of treasury shares at the end of the period
	As of March 31, 2023	2,906,217	shares	As of March 31, 2022	2,506,217	shares
Average number of shares during the period
	Year ended March 31, 2023	11,247,629	shares	Year ended March 31, 2022	11,516,480	shares

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Non-consolidated financial statements

Non-consolidated balance sheets

		(Thousands of yen)
	As of March 31, 2022	As of March 31, 2023
Assets
Current assets
Cash and deposits	1,204,439	778,284
Notes receivable - trade	110,987	77,025
Electronically recorded monetary claims - operating	1,137,763	1,467,208
Accounts receivable - trade	996,795	1,383,642
Merchandise and finished goods	781,851	809,477
Work in process	139,389	184,583
Raw materials and supplies	321,661	417,600
Prepaid expenses	11,812	11,393
Accounts receivable - other	365,848	519,156
Advance payments to suppliers	2,709	12,680
Other	1,371	917
Total current assets	5,074,629	5,661,969
Non-current assets
Property, plant and equipment
Buildings	1,998,404	2,002,792
Accumulated depreciation	(987,793)	(1,046,271)
Buildings, net	1,010,610	956,520
Structures	354,505	366,776
Accumulated depreciation	(269,594)	(284,954)
Structures, net	84,910	81,821
Machinery and equipment	2,396,030	2,412,270
Accumulated depreciation	(2,096,247)	(2,173,329)
Machinery and equipment, net	299,783	238,940
Vehicles	90,264	88,849
Accumulated depreciation	(86,860)	(85,669)
Vehicles, net	3,403	3,179
Tools, furniture and fixtures	758,230	780,077
Accumulated depreciation	(702,437)	(740,355)
Tools, furniture and fixtures, net	55,792	39,722
Land	559,638	559,638
Leased assets	36,357	72,567
Accumulated depreciation	(6,782)	(17,822)
Leased assets, net	29,574	54,744
Construction in progress	-	1,878
Total property, plant and equipment	2,043,713	1,936,444
Intangible assets
Software	209,475	164,915
Software in progress	-	11,844
Total intangible assets	209,475	176,759

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		(Thousands of yen)
	As of March 31, 2022	As of March 31, 2023
Investments and other assets
Investment securities	956,791	929,979
Investments in capital	7,260	7,260
Investments in capital of subsidiaries and associates	152,512	152,512
Long-term prepaid expenses	10,038	7,498
Guarantee deposits	1,042	1,057
Leasehold deposits	5,340	5,208
Investment property	175,180	175,180
Other	12,202	60,449
Allowance for doubtful accounts	(666)	(555)
Total investments and other assets	1,319,702	1,338,592
Total non-current assets	3,572,891	3,451,796
Total assets	8,647,520	9,113,766

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		(Thousands of yen)
	As of March 31, 2022	As of March 31, 2023
Liabilities
Current liabilities
Notes payable - trade	5,264	6,372
Electronically recorded obligations - operating	502,242	721,135
Accounts payable - trade	354,762	382,257
Short-term borrowings	70,000	70,000
Accounts payable - other	54,712	54,425
Accrued expenses	162,286	176,730
Income taxes payable	151,283	115,550
Accrued consumption taxes	13,865	53,234
Contract liabilities	38,218	102,145
Deposits received	9,229	9,778
Provision for bonuses	113,945	128,716
Notes payable - facilities	-	1,052
Electronically recorded obligations-facilities	24,337	15,958
Lease liabilities	6,882	13,608
Total current liabilities	1,507,029	1,850,968
Non-current liabilities
Long-term guarantee deposits	11,088	11,088
Lease liabilities	22,691	41,135
Provision for retirement benefits	175,923	129,387
Provision for retirement benefits for directors (and other	4,100	4,100
officers)
Deferred tax liabilities	27,062	24,546
Total non-current liabilities	240,866	210,258
Total liabilities	1,747,896	2,061,226
Net assets
Shareholders' equity
Share capital	1,350,000	1,350,000
Capital surplus
Legal capital surplus	825,877	825,877
Other capital surplus	6,319	6,319
Total capital surplus	832,196	832,196
Retained earnings
Legal retained earnings	204,500	204,500
Other retained earnings
General reserve	4,200,000	4,500,000
Retained earnings brought forward	490,388	553,673
Total retained earnings	4,894,888	5,258,173
Treasury shares	(649,492)	(850,692)
Total shareholders' equity	6,427,592	6,589,677
Valuation and translation adjustments
Valuation difference on available-for-sale securities	420,717	404,333
Deferred gains or losses on hedges	625	164
Total valuation and translation adjustments	421,342	404,497
Share acquisition rights	50,689	58,364
Total net assets	6,899,624	7,052,539
Total liabilities and net assets	8,647,520	9,113,766

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