Summary Report on Financial Results for the First Quarter of the Year Ending March 31st, 2023
(Japan GAAP)
July 29th, 2022 | |
Stock Listing: TSE-Standard Market | |
Company name: | Fukuda Denshi Co., Ltd. |
Code No.: | |
Representative: | Daijiro Shirai, President & COO |
Inquiries: | Haruhiko Honbu, Senior Manager of Accounting & Finance Department |
Tel: | +81-3-5684-1558 (main) |
Scheduled date for filing the quarterly report: | August 5th, 2022 |
Scheduled date for commencement of dividend payment: | - |
Supplementary material development: | None |
Financial results meeting: | None |
(Amounts less than one million yen are rounded down) (The number with parenthesis shows negative figure)
1. Consolidated financial results for the First quarter of the year ending March 31st, 2023 (April 1st, 2022 through June 30th, 2022)
- Consolidated operating results (cumulative)
(% represents increases or decreases from the previous year) | ||||||||||
Net sales | Operating Profit | Ordinary | Profit attributable to | |||||||
Profit | owners of parent | |||||||||
million | % | million | % | million | % | million | % | |||
yen | yen | yen | yen | |||||||
First quarter of the year | ||||||||||
27,690 | 0.4 | 4,033 | (3.9) | 4,414 | 2.2 | 2,851 | 2.9 | |||
ending March 31st, 2023 | ||||||||||
First quarter of the year | 27,587 | - | 4,195 | 79.5 | 4,317 | 77.6 | 2,771 | 58.5 | ||
ended March 31st, 2022 | ||||||||||
(Note) Comprehensive income | ||||||||||
First quarter of the year ending March 31st, 2023: 3,060 million yen / 18.2 % | ||||||||||
First quarter of the year ended March 31st, 2022: 2,589 million yen / 16.2 % |
The "Accounting Standards for Revenue Recognition" (ASBJ Statement No. 29, March 31st, 2020), etc. has been applied since the previous fiscal year. For this reason, the percentage of year-on-year change of "Net sales" for the first quarter of the fiscal year ended March 31st, 2022 is not indicated.
Earnings | Diluted earnings | |||||
per share | per share | |||||
First quarter of the year | yen | yen | ||||
188.54 | ― | |||||
ending March 31st, 2023 | ||||||
First quarter of the year | 183.31 | ― | ||||
ended March 31st, 2022 | ||||||
(2) Consolidated financial situation | ||||||
Total assets | Net assets | Shareholders' | Net assets | |||
equity ratio | per share | |||||
First quarter of the year | million yen | million yen | % | yen | ||
191,721 | 149,798 | 78.1 | 9,904.85 | |||
ending March 31st, 2023 | ||||||
Year ended March 31st, | 195,495 | 149,857 | 76.7 | 9,909.40 | ||
2022 | ||||||
(Reference) Shareholders' equity: | ||||||
First quarter of the year ending March 31st, 2023: 149,798 million yen | ||||||
Fiscal year ended March 31st, 2022: 149,857 million yen |
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2. Dividends
Annual Dividends per share | ||||||||||
End of the | End of the | End of the | End of the term | Annual | ||||||
first quarter | second quarter | third quarter | ||||||||
Year ended | yen | yen | yen | yen | yen | |||||
March 31st, | ― | 100.00 | ― | 205.00 | 305.00 | |||||
2022 | ||||||||||
Year ending | ||||||||||
March 31st, | ― | |||||||||
2023 | ||||||||||
Year ending | ||||||||||
March 31st, | 100.00 | ― | 115.00 | 215.00 | ||||||
2023 (forecast) |
(Note) Revisions to recent dividend forecast: None
The detail of second quarter dividend of Year ended March 31st, 2022; ordinary dividend 80.00 yen, extra dividend 20.00 yen
The detail of year-end dividend of Year ended March 31st, 2022; ordinary dividend 80.00 yen, extra dividend 125.00 yen
The detail of second quarter dividend of Year ending March 31st, 2023 (forecast); ordinary dividend 80.00 yen, extra dividend 20.00 yen
The detail of year-end dividend of Year ending March 31st, 2023 (forecast); ordinary dividend 90.00 yen, extra dividend 25.00 yen
3. Forecast of consolidated financial results for fiscal year ending March 31st, 2023 (April 1st, 2022 through March 31st, 2023)
(% represents increase or | decrease from the previous year) | ||||||||
Net sales | Operating Profit | Ordinary Profit | Profit attributable to | Earnings | |||||
owners of parent | per share | ||||||||
million | % | million | % | million | % | million | % | yen | |
yen | yen | yen | yen | ||||||
Full-year | 120,000 | (9.2) | 16,000 | (29.5) | 16,000 | (31.7) | 11,000 | (32.2) | 727.34 |
(Note) Revisions to recent business forecast: None
Since operating results of Fukuda Denshi (hereinafter, "the Group") tends to take a peak at the fourth quarter and it is difficult to give a forecast every six months based on rational calculation, the consolidated forecast at the second quarter is not disclosed.
*Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries involving changes in the scope of consolidation): None
- Application of special accounting methods for the preparation of the consolidated quarterly financial statements: None
- Changes in accounting policies, accounting projections and restatement
- Changes in accounting policies associated with revision of accounting standards: Yes
- Changes other than (i) above: None
- Changes in accounting projections: None
- Restatement: None
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- Number of outstanding shares (common shares)
- Number of outstanding shares at the end of the period (including treasury shares)
First quarter of the year ending March 31st, 2023: 19,588,000 shares
Year ended March 31st, 2022: 19,588,000 shares
-
Number of shares of treasury shares at the end of the period:
First quarter of the year ending March 31st, 2023: 4,464,276 shares
Year ended March 31st, 2022: 4,465,240 shares - Average number of shares during the period (accumulated consolidated quarter)
First quarter of the year ending March 31st, 2023: 15,123,276 shares
First quarter of the year ended March 31st, 2022: 15,119,815 shares
- This summary is not subject to audit procedure.
- Explanation about the appropriate use of the forecasts of financial results, and other noteworthy matters
The projections and other statements with respect to the future included in this material are based on currently available information and certain assumptions that are judged reasonable by the Group. Please be advised that the Group does not guarantee in any way the achievement of the projections and other goals in this material and that cases may occur where the actual results and other situations differ materially from the projections due to various factors. With respect to the preconditions for the forecast of financial results, please refer to "(3) Explanation about consolidated earnings forecast" under the "1. Qualitative information about consolidated earnings results for the quarter under review" section on page 5.
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Contents of the Attached Materials | ||
1. Qualitative information about consolidated earnings results for the quarter under review -------- | P.05 | |
(1) Explanation about consolidated operating results ----------------------------------------------------- | P.05 | |
(2) | Explanation about consolidated financial situation --------------------------------------------------- | P.05 |
(3) | Explanation about consolidated earnings forecast ---------------------------------------------------- | P.05 |
2. Consolidated quarterly financial statements and Notes ------------------------------------------------- | P.06 | |
(1) Consolidated quarterly balance sheets ------------------------------------------------------------------ | P.06 | |
(2) | Consolidated quarterly income statements and consolidated quarterly comprehensive income | P.08 |
statements | ||
Consolidated quarterly income statements | ||
First quarter of the consolidated term ---------------------------------------------------------------- | P.08 | |
Consolidated quarterly comprehensive income statements | ||
First quarter of the consolidated term ---------------------------------------------------------------- | P.09 | |
(3) | Notes to consolidated quarterly financial statement -------------------------------------------------- | P.09 |
(Notes regarding the premise for going concern) -------------------------------------------------------- | P.09 | |
(Notes when there is a significant fluctuation in the amount of shareholders' equity) ------------- | P.09 | |
(Changes in Accounting Policy) --------------------------------------------------------------------------- | P.09 |
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1. Qualitative information about consolidated earnings results for the quarter under review
(1) Explanation about consolidated operating results
The Japanese economy during the consolidated cumulative first quarter of this fiscal year (April 1st, 2022 through March 31st, 2023), confirmed cases and death of COVID-19 decreased. But on the other hand, the economic prospects remain uncertain for the time being due to the re-spread of COVID-19 and the higher prices of resources affected by international situations.
In the medical industry, it is now required to strengthen the efforts to COVID-19 pandemic and to construct an efficient framework to provide healthcare services reflecting the regional medical plan through the differentiation and strengthening of medical institutions' functions encouraging the regional healthcare network.
In such an environment, the Group posted consolidated "Net sales" of 27,690 million yen (up 0.4% year-on-year basis), "Operating profit" of 4,033 million yen (down 3.9% year-on-year basis), "Ordinary profit" of 4,414 million yen (up 2.2% year-on-year basis), and "Profit attributable to owners of parent" of 2,851 million yen (up 2.9% year-on-year basis) in the first quarter.
-
Physiological diagnostic equipment segment
The sales of vascular screening systems increased.
As a result, consolidated "Net sales" were 5,075 million yen (up 1.2% year-on-year basis). - Patient monitoring equipment segment
Consolidated "Net sales" of patient monitoring equipment were 2,131 million yen (down 16.5% year- on-year basis). - Medical treatment equipment segment
While the business of renting medical equipment for home treatment increased, the sales of AEDs and ventilators decreased.
As a result, consolidated "Net sales" were 12,653 million yen (down 0.1% year-on-year basis). - Consumables and other products segment
Consumables and other products segment includes the sales of recording paper, disposable electrodes, and consumables used for devices handled in the above segments, as well as maintenance and repair services.
Consolidated "Net sales" for this segment were 7,829 million yen (up 6.4% year-on-year basis).
(2) Explanation about consolidated financial situation
"Total assets" decreased 3,774 million yen from the end of previous fiscal year to reach 191,721 million yen. The main factors are the decrease of 8,397 million yen in "Notes and accounts receivable - trade" despite the increase of 1,685 million yen in "Merchandise and finished goods".
"Total liabilities" decreased 3,714 million yen from the end of the previous fiscal year to reach 41,923 million yen. The main factor is the decrease of 2,125 million yen in "Notes and accounts payable - trade" and 2,642 million yen in "Income taxes payable".
"Net assets" decreased 59 million yen from the end of the previous fiscal year to reach 149,798 million yen. The main factor is the decrease of 272 million yen in "Retained earnings" despite the increase of 264 million yen in "Foreign currency translation adjustment".
(3) Explanation about consolidated earnings forecast
Due to the steady sales achievement until the first quarter, there is no change at this moment in the forecast of the financial results for the full fiscal year which we announced on May 13th, 2022.
The forecasted financial results described in this material are based on information available at the time of announcement. Actual results may differ from the results projected and presented hereby for a variety of reasons.
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Fukuda Denshi Co. Ltd. published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 01:23:05 UTC.