Tomen Devices : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2023 （157KB）

Notice: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

October 26, 2023

Summary of Consolidated Financial Results for the Six Months Ended September 30, 2023 (Based on Japanese GAAP)

Company name:	TOMEN DEVICES CORPORATION
Listing:	Tokyo Stock Exchange
Securities code:	2737
URL:	https://www.tomendevices.co.jp
Representative:	Ichiro Tsumaki, President
Inquiries:	Hideki Hara, General Manager, Accounting Department
Telephone:	03-3536-9150

Scheduled date to file quarterly securities report:	November 13, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results briefing:	Yes (for institutional investors and analysts)
	(Amounts less than million yen are rounded down.)

1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)

(1) Consolidated operating results (cumulative)			(Percentages indicate year-on-year changes.)
		Net sales			Operating profit		Ordinary profit	Profit attributable to
					owners of parent
Six months ended	Millions of yen		%		Millions of yen		%		Millions of yen		%	Millions of yen	%
September 30, 2023		183,781		(17.3)		5,703		(22.5)		3,413		(5.4)	(4)	-
September 30, 2022		222,153		2.0		7,361		24.7		3,607		(31.0)	2,724	(29.2)
Note: Comprehensive income	For the six months ended September 30, 2023:	¥2,005 million	[(59.7)%]
		For the six months ended September 30, 2022:	¥4,972 million	[19.4%]
	Basic earnings		Diluted earnings
		per share			per share
Six months ended				Yen				Yen
September 30, 2023				(0.59)				-
September 30, 2022				400.58				-
(2) Consolidated financial position
		Total assets		Net assets		Equity-to-asset ratio	Net assets per share
As of		Millions of yen		Millions of yen				%		yen
September 30, 2023		106,976				43,141				40.3	6,343.42
March 31, 2023		107,177				44,198				40.3	6,353.93
Reference: Equity	As of September 30, 2023:	¥43,141 million
	As of March 31, 2023:	¥43,213 million

2. Cash dividends

			Annual dividends per share
	1st quarter-end		2nd quarter-end	3rd quarter-end		Fiscal year-end	Total
	Yen		Yen	Yen		Yen	Yen
Year ended March 31, 2023	-	0.00	-		300.00	300.00
Year ending March 31, 2024	-	0.00
Year ending March 31, 2024				-		120.00	120.00
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of 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 attributable to	Earnings per share
			owners of parent
		Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year		355,000		(15.0)	6,300	(48.5)	4,500	(31.7)	850	(82.7)	124.98
Note: Revisions to the consolidated earnings forecasts most recently announced: None

4. Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in the scope of consolidation) : No
2. Application of special accounting methods for preparing quarterly consolidated financial statements: Yes
3. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statement 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
4. Number of issued shares (common shares)

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

As of September 30, 2023

As of March 31, 2023

6,802,000 shares

6,802,000 shares

Number of treasury shares at the end of the period

As of September 30, 2023

As of March 31, 2023

1. shares

1. shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2023

Six months ended September 30, 2022

6,801,037 shares

6,801,047 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of forecasts of financial results, and other special matters

(Caution regarding forward-looking statements and others)

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual business and other results may differ substantially due to various factors.

Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2023	As of September 30, 2023
Assets
Current assets
Cash and deposits	7,489	8,846
Notes and accounts receivable - trade	51,227	54,412
Electronically recorded monetary claims - operating	2,849	1,653
Merchandise	35,994	29,946
Advance payments to suppliers	2,637	3,486
Deposits paid	4,647	6,048
Other	505	540
Total current assets	105,352	104,935
Non-current assets
Property, plant and equipment	309	249
Intangible assets	94	119
Investments and other asset	1,421	1,671
Total non-current assets	1,825	2,040
Total assets	107,177	106,976
Liabilities
Current liabilities
Accounts payable - trade	37,930	37,762
Short-term borrowings	20,563	18,293
Income taxes payable	488	38
Advances received	175	434
Provision for bonuses	282	108
Accounts payable - other	2,115	5,238
Other	708	1,249
Total current liabilities	62,264	63,124
Non-current liabilities
Retirement benefit liability	509	528
Other	204	180
Total non-current liabilities	714	709
Total liabilities	62,978	63,834
Net assets
Shareholders' equity
Share capital	2,054	2,054
Capital surplus	-	16
Retained earnings	37,652	35,608
Treasury shares	(2)	(2)
Total shareholders' equity	39,703	37,675
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	231	-
Deferred gains or losses on hedges	103	(64)
Foreign currency translation adjustment	3,174	5,529
Total accumulated other comprehensive income	3,509	5,465
Non-controlling interests	985	-
Total net assets	44,198	43,141
Total liabilities and net assets		107,177	106,976

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Six months ended	Six months ended
		September 30, 2022	September 30, 2023
Net sales	222,153	183,781
Cost of sales	213,111	176,319
Gross profit	9,042	7,462
Selling, general and administrative expenses	1,680	1,758
Operating Profit	7,361	5,703
Non-operating income
Interest income	1	3
Dividend income	17	10
Share of profit of entities accounted for using equity method	-	11
Other	15	5
Total non-operating income	34	30
Non-operating expenses
Interest expenses	340	909
Loss on sale of receivables	115	155
Foreign exchange losses	3,313	1,233
Share of loss of entities accounted for using equity method	0	-
Other	18	22
Total non-operating expenses	3,789	2,321
Ordinary profit	3,607	3,413
Extraordinary income
Gain on sale of investment securities	-	445
Total extraordinary income	-	445
Extraordinary losses
Provision of allowance for doubtful accounts	-	3,864
Loss on valuation of inventories	-	371
Total extraordinary losses	-	4,236
Profit (loss) before income taxes	3,607	(377)
Income taxes	788	(381)
Profit (loss)	2,818	3
Profit attributable to non-controlling interests	93	7
Profit (loss) attributable to owners of parent		2,724	(4)

Consolidated statements of comprehensive income (cumulative)

		(Millions of yen)
	Six months ended	Six months ended
	September 30, 2022	September 30, 2023
Profit	2,818	3
Other comprehensive income
Valuation difference on available-for-sale securities	4	(231)
Deferred gains or losses on hedges	(728)	(167)
Foreign currency translation adjustment	2,878	2,400
Total other comprehensive income	2,154	2,001
Comprehensive income	4,972	2,005
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	4,735	1,952
Comprehensive income attributable to non-controlling interests	237	53