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    1375   JP3947010009

YUKIGUNI MAITAKE CO., LTD.

(1375)
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[Delayed] Financial Results for 2nd Quarter of Fiscal Year Ending March 2022

11/05/2021 | 01:43am EST

Financial Results for 2nd Quarter of

Fiscal Year Ending March 2022

November 4, 2021

Tokyo Stock Exchange, First Section: 1375

AGENDA

  1. Summary of Consolidated Financial Result for 2Q of FYE March 2022
  2. Forecast of Consolidated Financial Results for FYE March 2022
  3. Reference Materials

(Caution concerning forward-looking statements)

The forward-looking statements, such as forecasts of financial results, included in this document are based on information available to the management as of the date of the document and certain1 assumptions that the management considers reasonable. The Company does not promise that forecasts will be achieved. Actual results may differ significantly due to a range of factors.

1 Summary of Consolidated Financial Result for 2Q of FYE March 2022

2

Summary of Financial Results for 2nd Quarter of Fiscal Year Ending March 2022

In the first half of the current fiscal year, although net sales and operating income underperformed the same period of the previous year, operating income exceeded the plan due to appropriate measures and responses

External Environment

Our Response

Summary of 2nd Quarter

The impact of the

COVID-19 has cooled

consumer sentiment, and

consumers continue to be

frugal

Vaccination progress,

signs of economic

recovery in some parts of

the world

Declaration of a state of

emergency and

TV commercials aired

mainly in western Japan,

and proposals for sales

floors of Maitake linked to

the TV commercials

Joint menu proposal for

maitake in collaboration

with a kitchenware

manufacturer

Button Mushrooms sales

promotion activities to

  • Revenue
    JPY 13.8 billion

YoY -1.1 billion (-7.9%)

vs Forecast

Slightly below, but mostly in line with our forecast

cancellation of priority

measures to prevent the

spread of disease at the

end of September

Increase in crude oil

prices, etc.

coincide with annual

events

Some bio-centers have

switched from heavy oil to

LNG

  • Operating Profit

JPY 2.5 billion

Exceeding our

forecast

YoY -0.7 billion (-22.2%)

3

Consolidated Statements of Income (2Q Cumulative)

In the first half of the current fiscal year, both sales and profits decreased compared to the same period of the previous fiscal year, when there was a tailwind effect from nesting demands, but excluding the impact of other income, operating income was essentially flat in the same period two years ago

2Q FYE March 2022

(JPY million)

Actual

Revenue

13,816

Gains Arising from Changes in Fair Value

6,688

Total Income

20,504

Material Costs, Labor Costs, etc.

8,755

Gains Arising from Changes in Fair Value

5,422

Cost of Sales

14,177

Gross Profit

6,327

SG&A Expenses

3,760

Other Income

21

Other Expenses

37

Operating Profit

2,551

vs Revenue

18.5%

vs Total Income

12.4%

Profit before Tax

2,341

Profit Attributable to Owners of Parent

1,521

[Reference]

Adjusted Operating Profit *

2,551

Adjusted EBITDA *

3,525

Adjusted Profit *

1,590

2Q FYE March 2020

Change

Actual

Amout

%

14,377

(560)

(3.9%)

6,982

(294)

(4.2%)

21,360

(855)

(4.0%)

8,663

+91

+1.1%

6,104

(681)

(11.2%)

14,767

(589)

(4.0%)

6,592

(265)

(4.0%)

3,890

(129)

(3.3%)

220

(198)

(90.2%)

169

(131)

(78.0%)

2,753

(202)

(7.4%)

19.2%

Includes JPY 195 million

12.9%

gain on sales of fixed assets

2,462

(120)

(4.9%)

1,600

(78)

(4.9%)

2,856

(305)

(10.7%)

3,703

(178)

(4.8%)

1,720

(130)

(7.6%)

2Q FYE March 2021

Change

Actual

Amout

%

14,997

(1,180)

(7.9%)

7,657

(969)

(12.7%)

22,655

(2,150)

(9.5%)

8,425

+329

+3.9%

6,846

(1,424)

(20.8%)

15,272

(1,094)

(7.2%)

7,383

(1,055)

(14.3%)

3,957

(197)

(5.0%)

27

(5)

(21.5%)

171

(134)

(78.3%)

3,280

(729)

(22.2%)

21.9%

14.5%

3,019

(677)

(22.4%)

1,966

(444)

(22.6%)

3,544

(993)

(28.0%)

4,509

(983)

(21.8%)

2,221

(631)

(28.4%)

Note:

Adjusted Operating Profit = Operating Profit + Management Fees1 + Listing-Related Expenses2

Adjusted EBITDA = Adjusted Operating Profit + Depreciation + Amortization

Adjusted Profit = Profit + Management Fees1 + Listing-Related Expenses2 + Refinance-Related Gains/Losses3 + Tax Adjustments

1

Management Fees are compensation based on the management contract between the Company and Bain Capital Private Equity, LP, and SHINMEI HOLDINGS CO., LTD.

2

Listing-Related Expenses are temporary costs including listing preparation advisory costs, costs related to building an organizational structure for listing, costs related to the introduction of IFRS and timely disclosure system for listing, real estate

registration costs associated with a merger, etc.

4

3

Refinancing-Related Gains/Losses are advisory expenses that were temporarily incurred in connection with refinancing carried out after the Company was closed to the public. These expenses are offset by temporary gains that were incurred due to the

decline in contract interest rates associated with the refinancing and the increase in interest expense during the remaining contract period that occurs in conjunction with the refinancing.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Yukiguni Maitake Co. Ltd. published this content on 05 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2021 06:42:10 UTC.


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Financials
Sales 2022 49 506 M 434 M 434 M
Net income 2022 4 377 M 38,4 M 38,4 M
Net Debt 2022 - - -
P/E ratio 2022 11,0x
Yield 2022 3,48%
Capitalization 48 172 M 423 M 422 M
Capi. / Sales 2022 0,97x
Capi. / Sales 2023 0,92x
Nbr of Employees 1 105
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Mean consensus BUY
Number of Analysts 1
Last Close Price 1 207,00 JPY
Average target price 1 700,00 JPY
Spread / Average Target 40,8%
EPS Revisions
Managers and Directors
Iwao Ashikaga President & Representative Director
Shunsuke Nakahama Director
Yuji Sugimoto Director
Toshiyuki Saegusa Managing Director
Mitsuo Fujio Outside Director