ADVANEX INC. ADVANEX INC.
Flash Report(Consolidated Basis) --Summary
Results for fiscal year ended March 31, 2023
May 12, 2023 | ||
Company name: | ADVANEX INC. | Stock listings: Tokyo Stock Exchange |
Code number: | 5998 | URLhttps://www.advanex.co.jp |
Representative: | Seiya Kato, President | |
Inquiries: | Tetsuya Yoshihara, Director & CFO | Telephone: +81-3-3822-5865 |
Date of the General Meeting of the Shareholders: | June 29, 2023 |
Expected date of payment for dividends | June 30, 2023 |
Filing date of securities report: | June 30, 2023 |
Supplementary explanation material for financial results | Yes |
Holding of presentation meeting for financial results | Yes |
(Figures less than ¥1 million have been omitted.) |
1. Performance
(1) Operating results
Years ended March 31 | Percentages indicate year-on-year increase (decrease). | |||||||||||||||
Net sales | Operating income | Ordinary income | Net income | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||
2023 | 24,628 | 13.4 | 61 | (58.7) | 585 | 65.1 | 60 | - | ||||||||
2022 | 21,722 | 11.2 | 148 | (15.7) | 354 | (1.2) | (82) | - | ||||||||
Note: Comprehensive income(millions of yen): Mar. 2023: | 341 | (47.6)% | Mar.2022: 650 | (52.4)% | ||||||||||||
Net income per | Net income per | Ratio of ordinary | Ratio of operating | |||||||||||||
Return on equity | income to total | |||||||||||||||
share | share after dilution | income to net sales | ||||||||||||||
assets | ||||||||||||||||
Yen | Yen | % | % | % | ||||||||||||
2023 | 14.64 | 14.62 | 0.9 | 2.3 | 0.2 | |||||||||||
2022 | (20.01) | - | (1.2) | 1.4 | 0.7 | |||||||||||
(2) Consolidated Financial position
At March 31 | (Figures less than ¥1 million have been omitted.) | ||||
Total assets | Net assets | Equity ratio | Net assets per share | ||
Millions of yen | Millions of yen | % | Yen | ||
2023 | 26,470 | 7,221 | 27.2 | 1,755.96 | |
2022 | 25,208 | 6,922 | 27.4 | 1,682.81 | |
(Reference) Total shareholders' equity: March 31, 2023: ¥7,213 million, March 31, 2022: ¥6,913 million
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(3) Cash flows
Years ended March 31 | (Figures less than ¥1 million have been omitted.) | |||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |||||||||
operating activities | investing activities | financing activities | equivalents at end of year | |||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||||
2023 | 271 | (1,599) | 1,455 | 2,773 | ||||||||
2022 | 945 | (1,557) | (169) | 2,543 | ||||||||
2. Dividends | ||||||||||||
Years ended March 31 | ||||||||||||
Dividends per share | ||||||||||||
First quarter | Second quarter | Third quarter | Year-end dividends | Total | ||||||||
-end dividends | -end dividends | -end dividends | ||||||||||
Record date | Yen | Yen | Yen | Yen | Yen | |||||||
2022 | --- | --- | --- | 10.00 | 10.00 | |||||||
2023 | --- | --- | --- | 12.00 | 12.00 | |||||||
2024 | --- | -- | --- | 20.00 | 20.00 | |||||||
(Forecast) | ||||||||||||
Note: The expected dividend amount has not been decided.
Total amount of | Dividends-to- | ||
dividends | Payout ratio | ||
net assets ratio | |||
(for the entire | (consolidated) | ||
(consolidated) | |||
fiscal year) | |||
Record date | Millions of yen | % | % |
2022 | 41 | - | 0.6 |
2023 | 49 | 82.0 | 0.7 |
2024 | 164.3 | ||
(Forecast) | |||
3. Forecasts for the Fiscal Year Ended March 31, 2023
Percentages indicate year-on-year increase (decrease).
Net sales | Operating income | Ordinary income | ||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Fiscal year | 25,000 | 1.5 | 400 | 552.8 | 250 | (57.3) |
Net income (loss) | Net income (loss) per share | |||||
Millions of yen | % | Yen | ||||
Fiscal year | 50 | (16.9) | 12.17 | |||
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4. Other
- Significant changes in subsidiaries during the subject fiscal year (Transfer of particular subsidiaries following a change in the scope of consolidation): No
- Changes in accounting principles, procedures, presentations, etc.
- Changes associated with revision of accounting standards, etc: Yes
- Changes other than a.: No
- Changes in accounting estimates: No
- Restatement: No
- Number of shares outstanding (Common stock)
Number of shares outstanding at fiscal year-end(including treasury stock):
2023: | 4,153,370 shares | 2022: | 4,153,370 shares |
Number of shares of treasury stock at fiscal year-end: | |||
2023: | 45,562 shares | 2022: | 44,925 shares |
Average Number of outstanding at term-end: | |||
2023: | 4,108,076 shares | 2022: | 4,105,314 shares |
(Reference) FLASH REPORT (NON-CONSOLIDATED BASIS)
(1) Operating results
Years ended March 31 | Percentages indicate year-on-year increase (decrease). | |||||||
Net sales | Operating income | Ordinary income (loss) | Net income | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
2023 | 9,769 | 0.2 | 175 | (35.6) | 577 | (18.0) | (1,260) | - |
2022 | 9,753 | 9.8 | 271 | 164.4 | 703 | 70.7 | 677 | 110.2 |
Net income per share | Net income per share after | |||||||
dilution | ||||||||
Yen | Yen | |||||||
2023 | （306.79） | - | ||||||
2022 | 165.04 | 164.81 | ||||||
(2) Financial position
At March 31
Total assets | Net assets | Equity ratio | Net assets per share | |
Millions of yen | Millions of yen | % | Yen | |
2023 | 17,353 | 1,443 | 8.3 | 349.33 |
2022 | 17,425 | 2,782 | 15.9 | 675.09 |
(Reference) Total shareholders' equity: March 31, 2023 ¥1,434 million, March 31, 2022: ¥2,773 million
Notes
- Audit procedures for financial statements under the Financial Instruments and Exchange Law are not completed at the time of disclosure of this Brief Report of Financial Results.
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・The business forecasts presented in this report are based on information available to the management at the time of
preparation, and are subject to a number of risks and uncertainties. Actual results may differ materially from those
projected due to a wide range of factors.
Index
1. Overview of Business Performance and Financial Position
(1) | Overview of Business performance ………………………………...……………………………… | 5 | |
(2) | Overview of Financial Position …………………………………...…………………………… | 6 | |
(3) | The Status of Cash flow.….….….…….….….…….….….…….….….…….….….…….….….…….… | 6 | |
(4) | Outlook for the coming fiscal year ….….….…….….….…….….….…….….….…….….….…….… | 7 | |
2. | Basic Rationale Regarding Selection of Accounting Standards………………………………………… | 7 | |
3. | Consolidated Financial Statements | ||
(1) | Consolidated Balance Sheets …………………………………….………………………………….. | 8 |
- Consolidated Statements of Income and Consolidated Statements of
Comprehensive Income ……………………………………………………………………………….. 11
(3) | Consolidated Statements of Cash Flows ……………...……………………………………………… | 14 |
(4) | Segment Information…………….…………….………………………………………………………… | 16 |
5． Non-Consolidated Financial Statements
- Condensed Non-Consolidated Balance Sheets …………………………………………………….. 17
- Condensed Non-Consolidated Statements of Income………………………………………………. 20
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1. Overview of Business Performance and Financial Position
- Overview of Operating Results for the Fiscal Year under Review
In the fiscal year under review, the global economy continued to face uncertainties, including rising energy and logistics costs, and a sharp rise in interest rates at central banks in various countries due to the acceleration of inflation, despite the relaxation of restrictions on domestic and overseas activities, including the termination of China's zero-corona policy. The automotive industry, which is our main market, remained in a difficult situation as a series of downward revisions to production plans were made due to a slowdown in China and a shortage of semiconductors.
Under these circumstances, net sales for the fiscal year under review increased 13.4% year on year to ¥24,628 million, and operating income decreased 58.7% to ¥61 million. Ordinary income increased 65.1% year on year to ¥585 million due to the impact of exchange rates and other factors, while net income attributable to owners of the parent was ¥60 million (compared to a loss of ¥82 million in the previous fiscal year).
Results by business segment are as follows.
[Japan]
Sales of products for precision and industrial equipment edged down 0.0%, to ¥8,592 million, due to a decline in sales of products for automotive and OA equipment on the back of a shortage of semiconductors, despite an increase in sales of products for precision and industrial equipment and the effects of some price increases. Segment income decreased 39.4% to ¥165 million, due in part to the impact of higher material and energy costs.
[Americas]
Despite delays in the operation of the new Tennessee plant, net sales increased 14.5% year on year to ¥2,904 million due in part to the depreciation of the yen. Segment loss was 1,041 million yen (compared with a loss of 611 million yen in the previous fiscal year), due in part to delays in the operation of a new Tennessee plant and the impact of soaring material costs.
[Europe]
Net sales increased 43.6% to ¥2,939 million due to a recovery in sales to medical equipment and aircraft, the impact of the weaker yen, and the effects of price increases. Segment income increased 613.3% year on year to ¥375 million, despite factors such as higher material and energy costs, which exerted downward pressure on earnings.
[Asia]
Net sales increased 19.3% year on year to ¥10,192 million and segment income increased 22.4% to ¥541 million, due to favorable sales to automotive, OA equipment and healthcare applications, as
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Disclaimer
Advanex Inc. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2023 05:19:04 UTC.
