CALBEE, INC. Consolidated Financial Statements for the
Third Quarter of the Fiscal Year
Ending March 31, 2023
April 1, 2022 to December 31, 2022
This document has been translated from the original Japanese as a guide for non-Japanese investors. It contains forward-looking statements based on a number of assumptions and beliefs made by management in light of information currently available. Actual financial results may differ materially depending on a number of factors, including changing economic conditions, legislative and regulatory developments, delay in new product launches, and pricing and product initiatives of competitors.
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SUMMARY OF FINANCIAL STATEMENTS (consolidated)
Third Quarter Results for the Fiscal Year Ending March 31, 2023
Calbee, Inc. | February 6, 2023 |
Stock exchange listings: Prime Market of Tokyo, code number 2229 | |
URL: https://www.calbee.co.jp/en/ | Contact: Chisa Hayakawa |
Managing Executive Officer & CFO | |
Telephone: +81-3-5220-6222 |
Representative: Shuji Ito, President & CEO, Representative Director
Scheduled date for submission of the third quarter financial report: February 10, 2023
Scheduled date for distribution of dividends: --
Availability of supplementary explanatory material for the third quarter results: Available
Quarterly results presentation meeting: Yes (for institutional investors and analysts)
- Consolidated results for the first nine months (April 1, 2022 to December 31, 2022) of the fiscal year ending March 31, 2023
(1) Consolidated Operating Results | Millions of yen, rounded down | |||
Nine months ended | Nine months ended | |||
December 31, 2021 | December 31, 2022 | |||
% change | % change | |||
Net sales | 185,470 | － | 208,499 | 12.4 |
Operating profit | 20,885 | (4.4) | 18,063 | (13.5) |
Ordinary profit | 21,570 | 0.8 | 19,060 | (11.6) |
Profit attributable to owners of parent | 14,701 | 4.7 | 12,531 | (14.8) |
Earnings per share (¥) | 110.23 | 97.19 | ||
Earnings per share (diluted) (¥) | － | － |
Notes: 1. The percentages shown above are a comparison with the same period in the previous fiscal year.
- Comprehensive income: Nine months ended December 31, 2022: ¥14,569 million (-7.9%) Nine months ended December 31, 2021: ¥15,818 million (8.7%)
- As Calbee applied the "Accounting Standard for Revenue Recognition" (Business Accounting Standards No. 29) from the beginning of the fiscal year ended March 2022, the percentage change in net sales from the same period of the previous fiscal year is not shown. Assuming that the same accounting standard as before was applied to sales for the third quarter of the fiscal year ended March 2022, the percentage of change from the same period of the previous fiscal year is 4.3%, excluding the impact of the application of this accounting standard.
(2) Consolidated Financial Position | Millions of yen, rounded down | |
As of March 31, 2022 | As of December 31, 2022 | |
Total assets | 236,598 | 243,819 |
Net assets | 183,458 | 187,059 |
Shareholders' equity/total assets (%) | 74.1 | 73.1 |
Shareholders' equity: As of December 31, 2022: ¥178,294 million | ||
As of March 31, 2022: ¥175,379 million | ||
2) Dividends | ||
Yen | ||
FY ended | FY ending | |
March 31, 2022 | March 31, 2023 (forecast) | |
Interim period per share | 0.00 | 0.00 |
Year-end dividend per share | 52.00 | 52.00 |
Annual dividend per share | 52.00 | 52.00 |
Note: Changes from the most recently announced dividend forecast: None
3) Consolidated forecasts for the fiscal year ending March 31, 2023(April 1, 2022 to March 31, 2023)
Millions of yen
% change | ||
Net sales | 274,000 | 11.6 |
Operating profit | 22,000 | (12.5) |
Ordinary profit | 25,000 | (7.2) |
Profit attributable to owners of parent | 15,500 | (14.1) |
Earnings per share (¥) | 120.52 |
Notes: 1. The percentages shown above are a comparison with the same period in the previous fiscal year. 2. Changes from the most recently announced results forecast: None
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Notes
-
Transfers of important subsidiaries during the period (transfers of specified subsidiaries resulting in changes in the scope of consolidation): Yes
One company added to scope of consolidation: Greenday Global Co., Ltd. - Use of special accounting procedures: None
- Changes in accounting policy, changes in accounting estimates, and restatements:
- Changes in accounting policies following revisions of accounting standards: None
- Changes in accounting policies other than 1: None
- Changes in accounting estimates: None
- Restatements: None
- Number of outstanding shares (common stock)
As of March 31, 2022: | As of December 31, 2022: | ||
1. | Number of outstanding shares | 133,929,800 shares | 133,929,800 shares |
(including treasury shares) | |||
2. | Number of treasury shares | 4,808,426 shares | 6,338,141 shares |
Nine months to December | Nine months to December | ||
31, 2021: | 31, 2022: | ||
3. | Average number of shares during the period | 133,374,659 shares | 128,938,306 shares |
Note: Regarding Calbee stock held in trust as treasury stock within shareholders' equity, the number of treasury shares includes 249,165 of these shares as of December 31, 2022 and 263,265 of these shares as of March 31, 2022, and the average number of shares excludes 255,215 treasury shares in the nine months to December 31, 2022, and 274,118 treasury shares in the nine months to December 31, 2021.
Financial Statements are not subject to audit by a certified public accountant or audit firm Appropriate use of financial forecasts and other items
- Forecasts, etc., recorded in this document include forward-looking statements that are based on management's estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations. For details of forecasts, please see Page 9, 1. Operating results (3) Consolidated forecasts for the fiscal year ending March 31, 2023.
- The earnings per share forecast for the fiscal year ending March 31, 2023 is calculated using 128,606,258 shares as the expected average number of shares for the period.
- Calbee, Inc. has scheduled a financial results conference for institutional investors and analysts on February 6, 2023. An audio recording of the conference will be made available on our Japanese website after the conference.
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Contents
- Operating results ……………………………………………………………………………………….…... 5
- Summary of business performance………………………………………………………………………. 5
- Analysis of financial position………………………………………………………………………………. 8
- Consolidated forecasts…………………………………………………………………………………….. 9
- Consolidated financial statements and key notes……………………………………………….…. 10
- Consolidated balance sheets……………………………………………………………………………... 10
- Consolidated statements of income and comprehensive income…………………………………….. 12
- Consolidated statements of cash flows………………………………………………………………….. 14
(4) Notes to consolidated financial statements……………………………………………………………… | 16 |
Notes related to going concern assumption……………………………………………………………. | 16 |
Notes on occurrence of significant changes to shareholders' equity………………………………… | 16 |
Subsequent events…………………………………………………… | 16 |
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1. Operating results
(1) Summary of business performance
(All comparisons are with the same period of the previous fiscal year, unless stated otherwise.)
During the nine-month period of the current fiscal year under review, we implemented price and content revisions in stages in order to respond to the ongoing sharp rises in raw material and energy costs. As a result of the revisions, and increased demand, domestic and overseas business grew, leading to net sales of ¥208,499 million (up 12.4%). Sales in the domestic business were ¥154,282 million (up 7.7%) due to growth in snack sales on the limited impact of price revisions on demand and the size of the Hokkaido potato harvest having been as planned. Sales of gift snack items were also strong owing to a recovery in travel demand. Sales in the overseas business were ¥54,216 million (up 28.5%) on growth in sales of snack foods in North America, Greater China, the United Kingdom, Indonesia and other regions.
Operating profit was ¥18,063 million (down 13.5%) owing to soaring raw material prices (packaging and cooking oils, etc.) and energy costs, and operating margin was 8.7%, a decrease of 2.6 percentage points. Since September, the effect of price and content revisions has offset the negative impact of rising costs. Ordinary profit was ¥19,060 million (down 11.6%), and profit attributable to owners of parent was ¥12,531 million (down 14.8%).
Results by business are as follows.
Millions of yen, rounded down
Domestic production and sale of snack and other foods business
Q3 FY ended | Q3 FY ending | |
March 31, 2022 | March 31, 2023 | |
Amount | Amount | Growth (%) |
143,281 | 154,282 | ＋7.7 |
Domestic snack foods | 134,869 | 143,318 | ＋6.3 |
Domestic cereals | 18,896 | 18,679 | (1.1) |
Domestic, others | 8,551 | 10,021 | ＋17.2 |
Deduction of rebates, etc. | (19,035) | (17,737) | － |
Overseas production and sale of | 42,188 | 54,216 | ＋28.5 |
snack and other foods business | |||
Total, production and sale of snack | 185,470 | 208,499 | ＋12.4 |
and other foods business | |||
- Sales of "Domestic snack foods", "Domestic cereals" and "Domestic, others" are before deduction of rebates, etc.
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Disclaimer
Calbee Inc. published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 08:39:03 UTC.
