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)
April 30, 2021 | |||||||||||||||||||||
Company name: | CTS Co., Ltd. | ||||||||||||||||||||
Stock exchange listing: | Tokyo | ||||||||||||||||||||
Stock code: | 4345 | URL http://www.cts-h.co.jp | |||||||||||||||||||
Representative: | Representative Director and President | Taizo Yokoshima | |||||||||||||||||||
Inquiries: | Operating Officer Accounting & Finance | Makio Kitahara | TEL 0268-26-3700 | ||||||||||||||||||
Manager | |||||||||||||||||||||
Scheduled date of ordinary general meeting of shareholders: | June 18, 2021 | ||||||||||||||||||||
Scheduled date to file Securities Report: | June 18, 2021 | ||||||||||||||||||||
Scheduled date to commence dividend payments: | June 1, 2021 | ||||||||||||||||||||
Preparation of supplementary material on financial results: | Yes | ||||||||||||||||||||
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, 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 | 9,968 | 8.7 | 2,228 | 20.3 | 2,127 | 17.0 | 1,456 | 16.7 | |||||||||||||
Year ended March 31, 2020 | 9,172 | 6.5 | 1,852 | 16.5 | 1,818 | 16.6 | 1,248 | 17.1 | |||||||||||||
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 | 34.14 | - | 17.5 | 17.1 | 22.4 | ||||||||||||||||
Year ended March 31, 2020 | 29.24 | - | 16.7 | 15.3 | 20.2 | ||||||||||||||||
(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 | 13,115 | 8,789 | 67.0 | 205.94 | |||||||||||||||||
As of March 31, 2020 | 11,720 | 7,842 | 66.9 | 183.75 | |||||||||||||||||
(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 | 2,328 | (377) | (1,271) | 6,216 | |||||||||||||||||
Year ended March 31, 2020 | 1,973 | (420) | (2,259) | 5,536 | |||||||||||||||||
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 | - | 6.00 | - | 6.20 | 12.20 | 520 | 41.7 | 7.0 | |||||||||||||
Year ended March 31, 2021 | - | 6.00 | - | 8.00 | 14.00 | 597 | 41.0 | 7.2 | |||||||||||||
Year ending March 31, 2022 | - | 7.00 | - | 8.00 | 15.00 | 40.0 | |||||||||||||||
(Forecast) | |||||||||||||||||||||
1
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 | |||||||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||||
5,000 | 2.8 | 1,050 | 4.2 | 1,000 | 4.0 | 700 | 8.1 | 16.40 | |||||
September 30, 2021 | |||||||||||||
Full year | 10,600 | 6.3 | 2,400 | 7.7 | 2,300 | 8.1 | 1,600 | 9.8 | 37.50 | ||||
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 | 43,400,000 | shares | As of March 31, 2020 | 43,400,000 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2021 | 720,845 | shares | As of March 31, 2020 | 720,845 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2021 | 42,679,155 | shares | Year ended March 31, 2020 | 42,679,155 | shares |
2
Consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2020 | As of March 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 5,536 | 6,216 | |
Notes and accounts receivable - trade | 1,630 | 1,693 | |
Inventories | 427 | 460 | |
Other | 233 | 196 | |
Allowance for doubtful accounts | (6) | (4) | |
Total current assets | 7,822 | 8,563 | |
Non-current assets | |||
Property, plant and equipment | |||
Property for rental | 858 | 868 | |
Accumulated depreciation | (832) | (837) | |
Property for rental, net | 26 | 31 | |
Buildings and structures | 942 | 1,210 | |
Accumulated depreciation | (451) | (478) | |
Buildings and structures, net | 490 | 732 | |
Land | 949 | 1,022 | |
Leased assets | 3,733 | 3,738 | |
Accumulated depreciation | (1,849) | (1,462) | |
Leased assets, net | 1,883 | 2,275 | |
Other | 260 | 265 | |
Accumulated depreciation | (240) | (249) | |
Other, net | 19 | 16 | |
Total property, plant and equipment | 3,370 | 4,078 | |
Intangible assets | 52 | 53 | |
Investments and other assets | |||
Other | 476 | 422 | |
Allowance for doubtful accounts | (1) | (1) | |
Total investments and other assets | 475 | 420 | |
Total non-current assets | 3,898 | 4,552 | |
Total assets | 11,720 | 13,115 |
3
(Millions of yen) | |||
As of March 31, 2020 | As of March 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 464 | 499 | |
Electronically recorded obligations - operating | 569 | 559 | |
Lease obligations | 690 | 730 | |
Income taxes payable | 361 | 378 | |
Other | 400 | 371 | |
Total current liabilities | 2,487 | 2,539 | |
Non-current liabilities | |||
Lease obligations | 1,216 | 1,570 | |
Other | 173 | 215 | |
Total non-current liabilities | 1,390 | 1,786 | |
Total liabilities | 3,878 | 4,326 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 425 | 425 | |
Capital surplus | 2,399 | 2,399 | |
Retained earnings | 5,457 | 6,393 | |
Treasury shares | (460) | (460) | |
Total shareholders' equity | 7,821 | 8,758 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 20 | 31 | |
Total accumulated other comprehensive income | 20 | 31 | |
Total net assets | 7,842 | 8,789 | |
Total liabilities and net assets | 11,720 | 13,115 |
4
Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income
(Millions of yen) | |||
Fiscal year ended | Fiscal year ended | ||
March 31, 2020 | March 31, 2021 | ||
Net sales | 9,172 | 9,968 | |
Cost of sales | 5,036 | 5,288 | |
Gross profit | 4,136 | 4,679 | |
Selling, general and administrative expenses | 2,283 | 2,451 | |
Operating profit | 1,852 | 2,228 | |
Non-operating income | |||
Dividend income | 1 | 1 | |
Rental income from land and buildings | 2 | 2 | |
Insurance claim income | 13 | 1 | |
Other | 3 | 3 | |
Total non-operating income | 20 | 8 | |
Non-operating expenses | |||
Interest expenses | 37 | 43 | |
Share of loss of entities accounted for using equity method | 17 | 66 | |
Total non-operating expenses | 54 | 109 | |
Ordinary profit | 1,818 | 2,127 | |
Extraordinary income | |||
Gain on sale of investment securities | 9 | 14 | |
Total extraordinary income | 9 | 14 | |
Profit before income taxes | 1,827 | 2,141 | |
Income taxes - current | 583 | 692 | |
Income taxes - deferred | (3) | (7) | |
Total income taxes | 579 | 684 | |
Profit | 1,248 | 1,456 | |
Profit attributable to owners of parent | 1,248 | 1,456 |
5
Consolidated statements of comprehensive income
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2020 | March 31, 2021 | |
Profit | 1,248 | 1,456 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (14) | 10 |
Total other comprehensive income | (14) | 10 |
Comprehensive income | 1,233 | 1,467 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 1,233 | 1,467 |
Comprehensive income attributable to non-controlling | - | - |
interests | ||
6
Consolidated statements of changes in equity
Fiscal year ended March 31, 2020
(Millions of yen) | |||||||||
Shareholders' equity | Accumulated other | ||||||||
comprehensive income | |||||||||
Valuation | Total | Total net | |||||||
Total | accumulated | ||||||||
Retained | Treasury | difference on | assets | ||||||
Share capital | Capital surplus | shareholders' | other | ||||||
earnings | shares | available-for- | |||||||
equity | comprehensive | ||||||||
sale securities | |||||||||
income | |||||||||
Balance at beginning of | 425 | 2,399 | 4,721 | (460) | 7,085 | 34 | 34 | 7,120 | |
period | |||||||||
Changes during period | |||||||||
Dividends of surplus | (512) | (512) | (512) | ||||||
Profit attributable to | 1,248 | 1,248 | 1,248 | ||||||
owners of parent | |||||||||
Net changes in items | |||||||||
other than shareholders' | (14) | (14) | (14) | ||||||
equity | |||||||||
Total changes during | - | - | 735 | - | 735 | (14) | (14) | 721 | |
period | |||||||||
Balance at end of period | 425 | 2,399 | 5,457 | (460) | 7,821 | 20 | 20 | 7,842 |
Fiscal year ended March 31, 2021
(Millions of yen) | |||||||||
Shareholders' equity | Accumulated other | ||||||||
comprehensive income | |||||||||
Valuation | Total | Total net | |||||||
Total | accumulated | ||||||||
Retained | Treasury | difference on | assets | ||||||
Share capital | Capital surplus | shareholders' | other | ||||||
earnings | shares | available-for- | |||||||
equity | comprehensive | ||||||||
sale securities | |||||||||
income | |||||||||
Balance at beginning of | 425 | 2,399 | 5,457 | (460) | 7,821 | 20 | 20 | 7,842 | |
period | |||||||||
Changes during period | |||||||||
Dividends of surplus | (520) | (520) | (520) | ||||||
Profit attributable to | 1,456 | 1,456 | 1,456 | ||||||
owners of parent | |||||||||
Net changes in items | |||||||||
other than shareholders' | 10 | 10 | 10 | ||||||
equity | |||||||||
Total changes during | - | - | 936 | - | 936 | 10 | 10 | 947 | |
period | |||||||||
Balance at end of period | 425 | 2,399 | 6,393 | (460) | 8,758 | 31 | 31 | 8,789 |
7
Consolidated statements of cash flows
(Millions of yen) | |||
Fiscal year ended | Fiscal year ended | ||
March 31, 2020 | March 31, 2021 | ||
Cash flows from operating activities | |||
Profit before income taxes | 1,827 | 2,141 | |
Depreciation | 817 | 836 | |
Increase (decrease) in allowance for doubtful accounts | (1) | (2) | |
Interest and dividend income | (1) | (1) | |
Interest expenses | 37 | 43 | |
Loss (gain) on sale of investment securities | (9) | (14) | |
Share of loss (profit) of entities accounted for using equity | 17 | 66 | |
method | |||
Decrease (increase) in trade receivables | (89) | (60) | |
Decrease (increase) in inventories | 336 | (32) | |
Increase (decrease) in trade payables | (572) | 24 | |
Other, net | 153 | 68 | |
Subtotal | 2,515 | 3,070 | |
Interest and dividends received | 1 | 1 | |
Interest paid | (37) | (43) | |
Income taxes paid | (505) | (698) | |
Net cash provided by (used in) operating activities | 1,973 | 2,328 | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (56) | (375) | |
Purchase of intangible assets | (29) | (23) | |
Proceeds from sale of investment securities | 25 | 17 | |
Purchase of shares of subsidiaries and associates | (348) | - | |
Other, net | (11) | 3 | |
Net cash provided by (used in) investing activities | (420) | (377) | |
Cash flows from financing activities | |||
Repayments of long-term borrowings | (1,000) | - | |
Repayments of lease obligations | (748) | (751) | |
Dividends paid | (511) | (520) | |
Net cash provided by (used in) financing activities | (2,259) | (1,271) | |
Net increase (decrease) in cash and cash equivalents | (706) | 680 | |
Cash and cash equivalents at beginning of period | 6,243 | 5,536 | |
Cash and cash equivalents at end of period | 5,536 | 6,216 |
8
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CTS Co. Ltd. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 18:20:02 UTC.