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, 2022 | |||||
(Based on Japanese GAAP) | |||||
May 13, 2022 | |||||
Company name: | Br. Holdings Corporation | ||||
Stock exchange listing: | Tokyo | ||||
Stock code: | 1726 | URL https://www.brhd.co.jp | |||
Representative: | President | Kimiyasu Fujita | |||
Inquiries: | Director, General Manager, Administration | Takeshi Amatsu | TEL 082-261-2860 | ||
Division | |||||
Scheduled date of ordinary general meeting of shareholders: | June 17, 2022 | ||||
Scheduled date to file Securities Report: | June 20, 2022 | ||||
Scheduled date to commence dividend payments: | June 20, 2022 | ||||
Preparation of supplementary material on financial results: | No | ||||
Holding of financial results meeting: | 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, 2022 (from April 1, 2021 to March 31, 2022)
(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, 2022 | 35,899 | (7.5) | 2,289 | (24.8) | 2,296 | (22.3) | 1,527 | (21.6) | |||||||
Year ended March 31, 2021 | 38,797 | 11.6 | 3,045 | 41.1 | 2,954 | 40.9 | 1,948 | 44.4 | |||||||
Note: Comprehensive income | |||||||||||||||
Year ended March 31, 2022: ¥1,538 million [(22.0) %] | |||||||||||||||
Year ended March 31, 2021: ¥1,970 million [56.8 %] | |||||||||||||||
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, 2022 | 33.85 | 33.55 | 12.1 | 6.9 | 6.4 | ||||||||||
Year ended March 31, 2021 | 49.69 | 49.18 | 20.7 | 10.0 | 7.8 | ||||||||||
Reference: | Share of profit (loss) of entities accounted for using equity method | ||||||||||||||
Year ended March 31, 2022: ¥- million | |||||||||||||||
Year ended March 31, 2021: ¥- 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, 2022 | 33,961 | 13,296 | 38.8 | 292.06 | |||||||||||
As of March 31, 2021 | 32,649 | 12,152 | 36.9 | 267.80 | |||||||||||
Reference: | Equity | ||||||||||||||
As of March 31, 2022: ¥13,193 million | |||||||||||||||
As of March 31, 2021: ¥12,049 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, 2022 | 20 | (520) | (639) | 1,425 | |||||||||||
Year ended March 31, 2021 | (3,224) | (194) | 3,672 | 2,565 |
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, 2021 | - | 5.00 | - | 6.00 | 11.00 | 464 | 22.1 | 5.0 |
Year ended March 31, 2022 | - | 6.00 | - | 6.00 | 12.00 | 542 | 35.5 | 4.3 |
Year ending March 31, 2023 | - | 6.00 | - | 6.00 | 12.00 | 33.8 | ||
(Forecast) | ||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
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 | 37,000 | 3.1 | 2,450 | 7.0 | 2,400 | 4.5 | 1,600 | 4.8 | 35.46 |
Note: 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, 2023 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, 2022
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: | Yes |
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, 2022 | 45,795,000 | shares | As of March 31, 2021 | 45,795,000 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2022 | 622,596 | shares | As of March 31, 2021 | 802,596 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2022 | 45,121,117 | shares | Year ended March 31, 2021 | 39,203,387 | shares |
(Reference) Overview of non-consolidated financial results
1. Non-consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022) | ||||||||||
(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, 2022 | 1,128 | 4.1 | 530 | 3.2 | 548 | 8.3 | 592 | 7.9 | ||
Year ended March 31, 2021 | 1,084 | 16.7 | 514 | 34.2 | 506 | 28.4 | 549 | 30.4 | ||
Earnings per share | Diluted earnings per share | |||||||||
Yen | Yen | |||||||||
Year ended March 31, 2022 | 13.14 | 13.02 | ||||||||
Year ended March 31, 2021 | 14.02 | 13.88 |
(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, 2022 | 19,309 | 8,323 | 42.6 | 181.97 | |
As of March 31, 2021 | 19,534 | 8,187 | 41.4 | 179.68 | |
(Reference) Equity | |||||
As of March 31, 2022: | ¥8,220 million | ||||
As of March 31, 2021: | ¥8,084 million |
- 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 ........................................................................................................... | 6 |
(3) | Basic policy on profit distribution and dividends for the fiscal year ended March 31, 2022 and | |
fiscal year ending March 31, 2023 ..................................................................................................... | 7 | |
(4) | Business risks ..................................................................................................................................... | 7 |
2. Status of the Group ................................................................................................................................... | 8 | |
3. Basic rationale for selection of accounting standards............................................................................... | 8 | |
4. Consolidated financial statements and significant notes thereto............................................................... | 9 | |
(1) | Consolidated balance sheets............................................................................................................... | 9 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income .......... | 11 |
Consolidated statements of income .................................................................................................. | 11 | |
Consolidated statements of comprehensive income ......................................................................... | 12 | |
(3) | Consolidated statements of changes in equity.................................................................................. | 13 |
(4) | Consolidated statements of cash flows............................................................................................. | 15 |
(5) | Notes to consolidated financial statements....................................................................................... | 17 |
Notes on premise of going concern .................................................................................................. | 17 | |
Important information constituting the basis for preparation of consolidated financial | ||
statements ......................................................................................................................................... | 17 | |
Changes in Accounting Policies ....................................................................................................... | 19 | |
Notes to consolidated balance sheets ............................................................................................... | 20 | |
Notes to consolidated statements of income..................................................................................... | 21 | |
Notes to consolidated statements of changes in equity .................................................................... | 22 | |
Notes to consolidated statements of cash flows ............................................................................... | 24 | |
Segment information, etc. ................................................................................................................ | 24 | |
Per-share information ....................................................................................................................... | 27 | |
Significant subsequent events........................................................................................................... | 27 | |
5. Overview of orders received and sales ................................................................................................... | 28 |
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Br. Holdings Corporation (1726)
1. Overview of operating results and others
- Analysis of operating results
- Operating results for the fiscal year ended March 31, 2022
During the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022) (the "fiscal year under review"), the Japanese economy saw an improvement in capital investment and corporate performance in economic activities, as restrictions eased due to widespread vaccination against COVID-19. However, the situation is far from settled, as new highly infectious variant strains have been identified, and the outlook remains uncertain due to global shortages of semiconductors and other components and soaring raw material prices.
In the construction industry, the core business of Br. Holdings Corporation (the "Company") and its subsidiaries (collectively "the Group"), coping with aging infrastructure has become an important social issue. For example, the Group's prestressed concrete (PC) bridges will be a part of the "five-year acceleration measures for disaster prevention/mitigation and national resilience," led by the national and local governments, which involves measures to strengthen the functionality of road networks such as renovation of aging road facilities, elimination of missing links and making high-standard expressways four lane (two lanes each direction), and making the high-standard expressway and national roads a double network.
Under these circumstances, public and private-sector investment remained steady and showed signs of picking up, while competition for orders intensified in the construction industry.
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 application of accounting standards for revenue recognition, in the construction business, the core business of the Group. However, there is currently no construction where any impact has materialized. Furthermore, serious impacts have not occurred in other lines of business.
Under these circumstances, net sales for the fiscal year under review were ¥35,899 million (down 7.5% year on year), operating profit was ¥2,289 million (down 24.8% year on year), ordinary profit was ¥2,296 million (down 22.3% year on year), and profit attributable to owners of parent ¥1,527 million (down 21.6% year on year).
The Group's performance by business segment is as follows. The amounts below include intersegment transactions.
Construction business
In the construction business, in recent years, large orders for PC slab replacement projects have tended to have a significant impact on the amount of orders received. Due to the impact of a large order received in the same period of the previous fiscal year for the replacement of expressway floor slabs, orders received are ¥26,422 million (down 35.7% year on year), and the amount of construction contracts was ¥46,770 million (down 9.4% year on year).
Net sales were ¥31,236 million (down 7.9% year on year) and segment profit was ¥3,355 million (down 14.0% year on year).
Product sales business
In the product sales business, the amount of orders received was ¥4,687 million (up 5.9% year on year) for the fiscal year under review, owing to an increase in the number of orders received for products of replacement of PC slabs and railroad sleepers.
Despite an increase in sales of railroad sleepers, the delivery of products of replacement of PC slabs ordered in the fiscal year under review was delayed until the current fiscal year, resulting in net sales of ¥4,429 million (down 12.7% year on year) and a segment profit of ¥209 million (down 38.6% year on year).
Information systems business
In the information systems business, the outlook for the contracted software development business and temporary staffing business, both of which the Group is engaged in, remains uncertain due to the impact of COVID-19. Due to the trend of decreased acceptance by our business partners caused by
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Br.Holdings Corporation published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 07:12:09 UTC.
