BR. HOLDINGS CORPORATION 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 Consolidated Financial Results
for the Year Ended March 31, 2021
(Based on Japanese GAAP)
May 14, 2021
Company name: | Br. Holdings Corporation |
Stock exchange listing: Tokyo
Stock code: | 1726 | URL https://www.brhd.co.jp |
Representative: | President | |
Director, General Manager, Administration |
Inquiries: | Division |
Scheduled date of ordinary general meeting of shareholders: Scheduled date to file Securities Report:
Scheduled date to commence dividend payments: Preparation of supplementary material on financial results: Holding of financial results meeting:
Kimiyasu Fujita
Takeshi Amatsu | TEL 082-261-2860 |
June 18, 2021
June 21, 2021
June 21, 2021
No
Yes (for institutional investors and analysts)
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Consolidated operating results | Percentages indicate year-on-year changes | ||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||
owners of parent | |||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
Year ended March 31, 2021 | 38,797 | 11.6 | 3,045 | 41.1 | 2,954 | 40.9 | 1,948 | 44.4 | |||||||
Year ended March 31, 2020 | 34,775 | 27.2 | 2,158 | 55.7 | 2,097 | 48.2 | 1,348 | 81.9 | |||||||
Note: Comprehensive income | |||||||||||||||
Year ended March 31, 2021: ¥1,970 million [56.8 %] | |||||||||||||||
Year ended March 31, 2020: ¥1,257 million [60.2 %] | |||||||||||||||
Earnings per share | Diluted earnings per | Profit attributable to | Ordinary profit/total | Operating profit/net | |||||||||||
share | owners of | assets | sales | ||||||||||||
parent/equity | |||||||||||||||
Yen | Yen | % | % | % | |||||||||||
Year ended March 31, 2021 | 49.69 | 49.18 | 20.7 | 10.0 | 7.8 | ||||||||||
Year ended March 31, 2020 | 34.45 | 34.07 | 20.9 | 8.5 | 6.2 | ||||||||||
Reference: | Share of profit (loss) of entities accounted for using equity method | ||||||||||||||
Year ended March 31, 2021: ¥- million | |||||||||||||||
Year ended March 31, 2020: ¥- million | |||||||||||||||
(2) Consolidated financial position | |||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||||
As of March 31, 2021 | 32,649 | 12,152 | 36.9 | 267.80 | |||||||||||
As of March 31, 2020 | 26,398 | 6,871 | 25.6 | 174.86 | |||||||||||
Reference: | Equity | ||||||||||||||
As of March 31, 2021: ¥12,049 million | |||||||||||||||
As of March 31, 2020: ¥6,767 million | |||||||||||||||
(3) 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, 2021 | (3,224) | (194) | 3,672 | 2,565 | |||||||||||
Year ended March 31, 2020 | (2,015) | (630) | 2,725 | 2,312 |
2. Cash dividends
Annual dividends per share | Total cash | Dividend payout | Ratio of dividends | |||||
to net assets | ||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | dividends (Total) | ratio (Consolidated) | (Consolidated) | |
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Year ended March 31, 2020 | - | 4.00 | - | 5.00 | 9.00 | 351 | 26.1 | 5.4 |
Year ended March 31, 2021 | - | 5.00 | - | 6.00 | 11.00 | 464 | 22.1 | 5.0 |
Year ending March 31, 2022 | - | 6.00 | - | 6.00 | 12.00 | 31.4 | ||
(Forecast) | ||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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 | 39,000 | - | 2,350 | - | 2,300 | - | 1,500 | - | 38.26 |
Note: As the Company will apply the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. from the beginning of the fiscal year ending March 31, 2022, the forecast of consolidated financial results above is the amount after the application of the said accounting standard, etc., and the percentage change from the previous fiscal year is not shown.
As Br. Holdings Corporation (the "Company") conducts performance management on an annual basis, a forecast of consolidated financial results for the first six months of the year ending March 31, 2022 is omitted for disclosure purposes. For details, please refer to the section of "1. Overview of operating results and others, (1) Analysis of operating results" on page 2 of the Attached Material.
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2021
No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) 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 |
(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021 | 45,795,000 | shares | As of March 31, 2020 | 39,700,000 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2021 | 802,596 | shares | As of March 31, 2020 | 995,796 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2021 | 39,203,387 | shares | Year ended March 31, 2020 | 39,152,728 | shares |
(Reference) Overview of non-consolidated financial results
1. Non-consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)
(1) Non-consolidated operating results | Percentages indicate year-on-year changes | ||||||||
Net sales | Operating profit | Ordinary profit | Profit (loss) | ||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
Year ended March 31, 2021 | 1,084 | 16.7 | 514 | 34.2 | 506 | 28.4 | 549 | 30.4 | |
Year ended March 31, 2020 | 929 | 37.4 | 383 | 195.5 | 394 | 229.1 | 421 | - | |
Earnings per share | Diluted earnings per share | ||||||||
Yen | Yen | ||||||||
Year ended March 31, 2021 | 14.02 | 13.88 | |||||||
Year ended March 31, 2020 | 10.76 | 10.65 |
(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, 2021 | 19,534 | 8,187 | 41.4 | 179.68 | |
As of March 31, 2020 | 14,616 | 4,327 | 28.9 | 109.14 | |
(Reference) Equity | |||||
As of March 31, 2021: | ¥8,084 million | ||||
As of March 31, 2020: | ¥4,224 million |
year-on-year variance>
Operating profit and income at each level below operating income increased from the previous fiscal year's results due to an increase of ¥155 million in dividends received from subsidiaries and associates.
- Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
- Proper use of financial forecasts, and other special matters
(Caution concerning forward-looking statements)
The forward-looking statements, including financial results forecasts, contained in this material are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, actual operating and other results may differ substantially due to various factors.
Br. Holdings Corporation (1726) | ||
Attached Material | ||
Index | ||
1. Overview of operating results and others ................................................................................................. | 2 | |
(1) | Analysis of operating results .............................................................................................................. | 2 |
(2) | Analysis of financial positions ........................................................................................................... | 4 |
(3) | Basic policy on profit distribution and dividends for the fiscal year ended March 31, 2021 and | |
fiscal year ending March 31, 2022 ..................................................................................................... | 5 | |
(4) | Business risks ..................................................................................................................................... | 5 |
2. Status of the Group ................................................................................................................................... | 6 | |
3. Basic rationale for selection of accounting standards............................................................................... | 6 | |
4. Consolidated financial statements and significant notes thereto............................................................... | 7 | |
(1) | Consolidated balance sheets ............................................................................................................... | 7 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income ............ | 9 |
Consolidated statements of income .................................................................................................... | 9 | |
Consolidated statements of comprehensive income ......................................................................... | 10 | |
(3) | Consolidated statements of changes in equity.................................................................................. | 11 |
(4) | Consolidated statements of cash flows............................................................................................. | 13 |
(5) | Notes to consolidated financial statements....................................................................................... | 15 |
Notes on premise of going concern .................................................................................................. | 15 | |
Important information constituting the basis for preparation of consolidated financial | ||
statements ......................................................................................................................................... | 15 | |
Notes to consolidated balance sheets ............................................................................................... | 17 | |
Notes to consolidated statements of income..................................................................................... | 18 | |
Notes to consolidated statements of changes in equity .................................................................... | 19 | |
Notes to consolidated statements of cash flows ............................................................................... | 21 | |
Segment information, etc. ................................................................................................................ | 21 | |
Per-share information ....................................................................................................................... | 25 | |
Significant subsequent events........................................................................................................... | 25 | |
5. Overview of production, orders received and sales ................................................................................ | 26 |
- 1 -
Br. Holdings Corporation (1726)
1. Overview of operating results and others
- Analysis of operating results
- Operating results for the fiscal year ended March 31, 2021
In the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021) (the "fiscal year under review"), the Japanese economy was in a recovery trend despite the continuation of challenging conditions because of the impact of COVID-19. Furthermore, as overseas economies in general were also recovering, exports and industrial production increased, and corporate performance and business confidence improved.
Regarding the construction industry, the core business of Br. Holdings Corporation (the "Company") and its subsidiaries (collectively "the Group"), a medium- to long-term increase in large repair work for antiquated social infrastructure was expected. However, despite an increase in domestic order amounts from government agencies in the fiscal year under review, domestic private-sector order amounts declined due to the impact of COVID-19, and the challenging situation generally continued as it did in the previous fiscal year.
Regarding the Group, COVID-19 may have an impact on the progress of future construction and total cost of construction, which is a computational element for the percentage-of-completion method, in the construction business, the core business of the Group. However, there is currently no construction where this has materialized. Furthermore, serious impacts have not occurred in other lines of business.
Under these circumstances, sales and profits for the fiscal year under review are the record highs with net sales up 11.6% year on year to ¥38,797 million, operating profit up 41.1% year on year to ¥3,045 million, ordinary profit up 40.9% year on year to ¥2,954 million, and profit attributable to owners of parent up 44.4% year on year to ¥1,948 million.
The Group's performance by business segment is as follows. The amounts below include intersegment transactions.
Construction business
The amount of orders received and the amount of construction contracts both reached record highs with the amount of orders at ¥41,076 million (up 52.8% year on year) due to large orders to replace PC slabs in various areas, such as the Chugoku Expressway, and the amount of construction contracts at ¥51,627 million (up 16.1% year on year) for the fiscal year under review.
Net sales were ¥33,898 million (up 9.5% year on year) as a result of increases due to design changes for long-term large construction projects, and the increase of the progress rate for projects to replace the prestressed concrete (PC) slabs of expressways. Furthermore, segment profit was ¥3,901 million (up 28.5% year on year) as a result of proactively promoting capital investment, such as by further changing plant layouts and newly establishing PC slab manufacturing facilities in advance, in order to increase productivity in preparation for increased orders for projects to replace the PC slabs of expressways.
Product sales business
The amount of orders received was ¥4,426 million (down 15.2% year on year) for the fiscal year under review, owing to a lull in the number of orders received for products of replacement of PC slabs.
Furthermore, net sales were ¥5,075 million (up 40.9% year on year) and segment profit was ¥341 million (compared with segment profit of ¥122 million in the previous fiscal year) as shipments of PC slabs and slab blocks were favorable.
Information systems business
The future outlook for the information systems business remains unclear due to the impact of COVID-
19. Although our business partners curbed their orders due to COVID-19, net sales were ¥449 million (up 17.0% year on year) and segment profit was ¥26 million (compared with segment profit of ¥7
- 2 -
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Br.Holdings Corporation published this content on 15 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2021 07:01:03 UTC.
