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 Three Months Ended June 30, 2023 (Based on Japanese GAAP)

August 4, 2023

Company name:

G-TEKT CORPORATION

Stock exchange listing:

Tokyo

Stock code:

5970

URL

https://www.g-tekt.jp/

Representative:

President, Chief Executive Officer

Naohiro Takao

Inquiries:

Officer of the Company, Operations Director

Takeshi Bamba

TEL +81-48-646-3400

Scheduled date to file Quarterly Securities Report:

August 10, 2023

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

Yes

Holding of quarterly financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)

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

%

Three months ended June 30, 2023

78,818

16.8

2,610

24.0

3,840

2.5

2,745

(3.9)

Three months ended June 30, 2022

67,454

21.0

2,105

28.5

3,747

91.8

2,858

106.4

Earnings per share

Diluted earnings per share

Yen

Yen

Three months ended June 30, 2023

63.83

-

Three months ended June 30, 2022

66.51

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2023

301,741

188,195

58.2

As of March 31, 2023

288,698

176,695

57.1

2. Cash dividends

Annual dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2023

-

29.00

-

29.00

58.00

Year ending March 31, 2024

-

Year ending March 31, 2024 (Forecast)

30.00

-

30.00

60.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

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

309,000

(1.7)

10,500

(18.2)

10,300

(27.9)

7,100

(30.9)

165.08

1

4. Notes

  1. Changes in significant subsidiaries during the three months ended June 30, 2023 (changes in specified subsidiaries resulting in the change in scope of consolidation):
  2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) 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

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2023

43,931,260

shares

As of March 31, 2023

43,931,260

shares

Number of treasury shares at the end of the period

As of June 30, 2023

921,223

shares

As of March 31, 2023

921,223

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2023

43,010,037

shares

Three months ended June 30, 2022

42,972,252

shares

2

Quarterly consolidated financial statements

Consolidated balance sheets

(Millions of yen)

As of March 31, 2023

As of June 30, 2023

Assets

Current assets

Cash and deposits

44,232

46,857

Notes and accounts receivable - trade

56,670

52,879

Finished goods

2,090

2,194

Work in process

20,580

23,611

Raw materials

4,244

4,724

Supplies

1,405

1,537

Other

7,102

9,025

Total current assets

136,326

140,829

Non-current assets

Property, plant and equipment

Buildings and structures

106,094

112,289

Accumulated depreciation

(46,158)

(49,167)

Buildings and structures, net

59,936

63,121

Machinery, equipment and vehicles

180,783

192,355

Accumulated depreciation

(138,215)

(148,211)

Machinery, equipment and vehicles, net

42,567

44,144

Tools, furniture and fixtures

152,887

153,828

Accumulated depreciation

(137,260)

(138,063)

Tools, furniture and fixtures, net

15,626

15,764

Land

14,375

14,871

Construction in progress

7,148

9,659

Total property, plant and equipment

139,654

147,561

Intangible assets

1,200

1,143

Investments and other assets

Investment securities

9,429

10,611

Other

2,088

1,595

Total investments and other assets

11,518

12,207

Total non-current assets

152,372

160,911

Total assets

288,698

301,741

3

(Millions of yen)

As of March 31, 2023

As of June 30, 2023

Liabilities

Current liabilities

Accounts payable - trade

34,019

35,058

Short-term borrowings

13,848

13,401

Current portion of long-term borrowings

9,912

9,817

Accounts payable - other

7,654

8,759

Income taxes payable

1,103

502

Provision for bonuses

1,529

1,517

Other

6,171

7,664

Total current liabilities

74,239

76,720

Non-current liabilities

Long-term borrowings

27,405

25,862

Retirement benefit liability

1,452

1,488

Provision for share awards for directors (and other

472

492

officers)

Other

8,432

8,982

Total non-current liabilities

37,763

36,825

Total liabilities

112,003

113,545

Net assets

Shareholders' equity

Share capital

4,656

4,656

Capital surplus

23,622

23,622

Retained earnings

111,475

112,962

Treasury shares

(1,649)

(1,649)

Total shareholders' equity

138,104

139,591

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

1,337

2,082

Deferred gains or losses on hedges

31

-

Foreign currency translation adjustment

25,185

33,833

Remeasurements of defined benefit plans

33

31

Total accumulated other comprehensive income

26,587

35,947

Non-controlling interests

12,003

12,657

Total net assets

176,695

188,195

Total liabilities and net assets

288,698

301,741

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

(Millions of yen)

Three months ended

Three months ended

June 30, 2022

June 30, 2023

Net sales

67,454

78,818

Cost of sales

61,699

72,159

Gross profit

5,755

6,659

Selling, general and administrative expenses

3,649

4,048

Operating profit

2,105

2,610

Non-operating income

Interest income

141

246

Dividend income

72

73

Foreign exchange gains

823

942

Share of profit of entities accounted for using equity method

598

1

Other

226

257

Total non-operating income

1,863

1,521

Non-operating expenses

Interest expenses

217

283

Other

4

8

Total non-operating expenses

221

291

Ordinary profit

3,747

3,840

Extraordinary income

Gain on sale of non-current assets

10

11

Gain on sale of investment securities

27

-

Total extraordinary income

38

11

Extraordinary losses

Loss on sale of non-current assets

-

1

Loss related to COVID-19

33

-

Loss on liquidation of business

-

174

Total extraordinary losses

33

176

Profit before income taxes

3,751

3,675

Income taxes

1,032

899

Profit

2,719

2,776

Profit (loss) attributable to non-controlling interests

(139)

31

Profit attributable to owners of parent

2,858

2,745

5

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G-Tekt Corporation published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 07:43:45 UTC.