*This document is a translation of the original Japanese document and does not contain all details of it.
*This document has been prepared for reference only in accordance with accounting principles generally accepted in Japan. *If there is any discrepancy between this document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Statements
for the Second Quarter of the Fiscal Year Ending March 31, 2024
[Japan GAAP]
November 2, 2023
Stock Exchange Listing: Tokyo (Prime Market)
Company Name: GSI Creos Corporation
Code Number: | 8101 | URLhttps://www.gsi.co.jp |
Representative: | Tadaaki Yoshinaga Representative Director, President and CEO | |
Inquiries: | Kunihiro Ono | Director, Executive Officer Tel: +81-3-5418-2122 |
Scheduled Date of Quarterly Report Filing: | November 9, 2023 | |||||||||
Scheduled Date of Dividend Payments Commencement: | ― | |||||||||
Supplementary Documents for Quarterly Financial Statements: | Yes | |||||||||
Holding of Quarterly Financial Results Meeting: | Yes | (Note: Amounts less than one million of yen have been rounded down.) | ||||||||
1. Consolidated Results for the Second Quarter of the Fiscal Year Ending March 31, 2024 | (April 1, 2023 to September 30, 2023) | |||||||||
(1) Consolidated Operating Results (Cumulative Total) | (Percentage figures represent changes from the same period of the previous year.) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||
owners of parent | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
Second quarter ended September 30, 2023 | 70,850 | 17.1 | 1,722 | 53.4 | 1,802 | 40.6 | 1,297 | 42.7 | ||
Second quarter ended September 30, 2022 | 60,508 | 15.0 | 1,123 | (6.5) | 1,281 | 6.2 | 909 | (2.7) |
(Note) Comprehensive income | Second quarter ended September 30, 2023 | : | 2,028 | millions of yen | 13.4 % |
Second quarter ended September 30, 2022 | : | 1,788 | millions of yen | (10.8) % |
Net income | Diluted net income | ||
per share | per share | ||
Yen | Yen | ||
Second quarter ended September 30, 2023 | 105.83 | ― | |
Second quarter ended September 30, 2022 | 74.21 | ― | |
(2) Consolidated Financial Position | |||
Total assets | Net assets | Equity ratio | |
Millions of yen | Millions of yen | % | |
Second quarter ended September 30, 2023 | 70,517 | 27,066 | 38.4 |
Fiscal year ended March 31, 2023 | 69,412 | 25,929 | 37.4 |
(Reference) Equity capital | Second quarter ended September 30, 2023 |
Fiscal year ended March 31, 2023 |
- 27,066 millions of yen
- 25,929 millions of yen
2. Dividends
Annual dividend per share
1Q | 2Q | 3Q | Fiscal year end | Annual | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal year ended March 31, 2023 | ― | 0.00 | ― | 73.00 | 73.00 |
Fiscal year ending March 31, 2024 | ― | 0.00 | |||
Fiscal year ending | ― | 80.00 | 80.00 | ||
March 31, 2024 (Forecast) | |||||
(Note) Revisions to the dividend forecast published most recently | : No |
3. Forecast of Consolidated Results for the Fiscal Year Ending March 31, 2024 | (April 1, 2023 to March 31, 2024) | |||||||||||
(Percentage figures represent changes from the same period of the previous year.) | ||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Net income | ||||||||
owners of parent | per share | |||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||||
Full fiscal year | 137,000 | 4.5 | 2,800 | 53.0 | 2,800 | 56.6 | 1,950 | 10.2 | 159.05 | |||
(Note) Revisions to the consolidated results forecasts published most recently | : No |
- 1 -
* Notes
(1) | Changes in Significant Subsidiaries During the Period | ||
(Changes in Specified Subsidiaries Associated with Changes in the Scope of Consolidation) | : No | ||
(2) | Application of Special Accounting Methods to the Preparation of Quarterly Financial Statements | : No | |
(3) | Changes in Accounting Policies and Estimates, and Retrospective Restatement | : No | |
ⅰ Changes in accounting policies due to revisions of accounting standards and other regulations | |||
ⅱ Changes in accounting policies other than in (ⅰ) : No |
- Changes in accounting estimates : No ⅳ Retrospective restatement : No
- Number of Shares Issued and Outstanding (Common Stock)
- Number of shares issued and outstanding at the end of period (including treasury stock)
Second quarter ended September 30, 2023 | 12,629,942 shares | Fiscal year ended March 31, 2023 | 12,629,942 shares |
- Number of treasury stock at the end of period
Second quarter ended September 30, 2023 | 362,610 shares | Fiscal year ended March 31, 2023 | 367,565 shares |
- Average number of shares during the period
Six months ended September 30, 2023 | 12,264,545 shares |
Six months ended September 30, 2022 | 12,258,968 shares |
- This quarterly report is out of scope of the quarterly review procedure performed by a certified public accountant or audit corporation.
- Cautionary statement with respect to forecasts of consolidated business results and special notes
Earning forecasts presented in this report are based on information available and assumptions deemed reasonable at the time. Therefore, they do not constitute a guarantee that they will be realized. Actual results could differ significantly from forecasts due to a variety of factors.
- 2 -
Quarterly Consolidated Financial Statements
(1)Quarterly Consolidated Balance Sheets
(Millions of yen)
Previous fiscal year | Second quarter, | |
current fiscal year | ||
(March 31, 2023) | ||
(September 30, 2023) | ||
Assets | ||
Current assets | ||
Cash and deposits | 8,352 | 8,756 |
Notes receivable-trade | 1,486 | 1,586 |
Electronically recorded monetary claims-operating | 2,118 | 2,544 |
Accounts receivable-trade | 31,798 | 31,572 |
Merchandise | 10,179 | 10,837 |
Work in process | 1,041 | 1,082 |
Raw materials | 164 | 188 |
Other | 2,958 | 2,094 |
Allowance for doubtful accounts | (450) | (321) |
Total current assets | 57,650 | 58,340 |
Non-current assets | ||
Property, plant and equipment | 3,741 | 3,694 |
Intangible assets | ||
Goodwill | 379 | 888 |
Other | 252 | 229 |
Total Intangible assets | 631 | 1,117 |
Investments and other assets | ||
Investment securities | 5,483 | 5,495 |
Other | 1,905 | 1,868 |
Total investments and other assets | 7,389 | 7,364 |
Total non-current assets | 11,761 | 12,176 |
Total assets | 69,412 | 70,517 |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable-trade | 23,959 | 26,389 |
Electronically recorded obligations-operating | − | 353 |
Short-term loans payable | 12,821 | 10,009 |
Current portion of long-term loans payable | 83 | 90 |
Income taxes payable | 341 | 408 |
Provisions | 519 | 458 |
Other | 3,731 | 3,719 |
Total current liabilities | 41,456 | 41,429 |
Non-current liabilities | ||
Long-term loans payable | 1,153 | 1,111 |
Retirement benefit liability | 72 | 83 |
Other | 800 | 825 |
Total non-current liabilities | 2,026 | 2,020 |
Total liabilities | 43,482 | 43,450 |
Net assets | ||
Shareholders' equity | ||
Capital stock | 7,186 | 7,186 |
Capital surplus | 859 | 859 |
Retained earnings | 15,377 | 15,780 |
Treasury stock | (287) | (284) |
Total shareholders' equity | 23,135 | 23,542 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,725 | 1,701 |
Deferred gains or losses on hedges | (15) | 74 |
Foreign currency translation adjustment | 1,053 | 1,725 |
Remeasurements of defined benefit plans | 31 | 22 |
Total accumulated other comprehensive income | 2,793 | 3,524 |
Total net assets | 25,929 | 27,066 |
Total liabilities and net assets | 69,412 | 70,517 |
- 3 -
(2)Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of
Comprehensive Income
(Quarterly Consolidated Statements of Income)
(Cumulative Second Quarter)
(Millions of yen) | ||
Cumulative second quarter, Cumulative second quarter, | ||
previous fiscal year | current fiscal year | |
(April 1, 2022- | (April 1, 2023- | |
September 30, 2022) | September 30, 2023) | |
Net sales | 60,508 | 70,850 |
Cost of sales | 53,639 | 62,578 |
Gross profit | 6,868 | 8,271 |
Selling, general and administrative expenses | 5,745 | 6,549 |
Operating profit | 1,123 | 1,722 |
Non-operating income | ||
Interest income | 20 | 25 |
Dividend income | 56 | 84 |
Share of profit of entities accounted for using equity method | 178 | 8 |
Foreign exchange gains | − | 13 |
Other | 110 | 93 |
Total non-operating income | 366 | 226 |
Non-operating expenses | ||
Interest expenses | 73 | 104 |
Share of loss of entities accounted for using equity method | 40 | 19 |
Foreign exchange losses | 77 | − |
Other | 16 | 21 |
Total non-operating expenses | 208 | 145 |
Ordinary profit | 1,281 | 1,802 |
Extraordinary income | ||
Gain on sales of investments in capital | - | 39 |
Total extraordinary income | - | 39 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 1 | 2 |
Other | - | 7 |
Total extraordinary losses | 1 | 10 |
Income before income taxes | 1,280 | 1,832 |
Income taxes-current | 314 | 478 |
Income taxes-deferred | 55 | 56 |
Total income taxes | 370 | 534 |
Profit | 909 | 1,297 |
Profit attributable to owners of parent | 909 | 1,297 |
- 4 -
(Quarterly Consolidated Statements of Comprehensive Income)
(Cumulative Second Quarter)
(Millions of yen) | ||
Cumulative second quarter, | Cumulative second quarter, | |
previous fiscal year | current fiscal year | |
(April 1, 2022- | (April 1, 2023- | |
September 30, 2022) | September 30, 2023) | |
Profit | 909 | 1,297 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (244) | (23) |
Deferred gains or losses on hedges | 86 | 90 |
Foreign currency translation adjustment | 1,050 | 672 |
Remeasurements of defined benefit plans, net of tax | (14) | (8) |
Total other comprehensive income | 878 | 730 |
Comprehensive income | 1,788 | 2,028 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 1,788 | 2,028 |
- 5 -
(3)Quarterly Consolidated Statements of Cash Flows
(Millions of yen) | ||
Cumulative second quarter, | Cumulative second quarter, | |
previous fiscal year | current fiscal year | |
(April 1, 2022- | (April 1, 2023- | |
September 30, 2022) | September 30, 2023) | |
Cash flows from operating activities | ||
Income before income taxes | 1,280 | 1,832 |
Depreciation | 185 | 196 |
Amortization of goodwill | 42 | 82 |
Increase (decrease) in allowance for doubtful accounts | (13) | (50) |
Increase (decrease) in retirement benefit liability | (19) | (4) |
Interest and dividend income | (77) | (110) |
Interest expenses | 73 | 104 |
Foreign exchange losses (gains) | 5 | (1) |
Loss on retirement of property, plant and equipment | 1 | 2 |
Gain on sales of investments in capital | - | (39) |
Decrease (increase) in notes and accounts receivable-trade | (4,735) | 2,110 |
Decrease (increase) in inventories | (15) | (201) |
Decrease (increase) in other assets | 274 | 975 |
Increase (decrease) in notes and accounts payable-trade | 2,488 | (152) |
Increase (decrease) in other liabilities | (630) | (247) |
Other, net | (49) | 204 |
Subtotal | (1,188) | 4,699 |
Interest and dividends income received | 84 | 115 |
Interest expenses paid | (73) | (104) |
Income taxes paid | (186) | (413) |
Cash flows from operating activities | (1,364) | 4,296 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (11) | (56) |
Purchase of investment securities | (95) | (149) |
Proceeds from sale of investments in capital | - | 214 |
Payments for investments in capital | (25) | (35) |
Loan advances | (41) | (62) |
Proceeds from collection of loans receivable | 481 | − |
Other, net | (40) | 44 |
Cash flows from investing activities | 266 | (46) |
Cash flows from financing activities | ||
Net increase (decrease) in short-term loans payable | 2,112 | (3,109) |
Repayments of long-term loans payable | (45) | (34) |
Proceeds from sale and leaseback transactions | 96 | − |
Repayments of lease obligations | (100) | (92) |
Purchase of treasury stock | (0) | (1) |
Cash dividends paid | (796) | (895) |
Cash flows from financing activities | 1,266 | (4,132) |
Effect of exchange rate change on cash and cash equivalents | 160 | 111 |
Net increase (decrease) in cash and cash equivalents | 329 | 229 |
Cash and cash equivalents at the beginning of period | 8,078 | 8,352 |
Increase in cash and cash equivalents from newly consolidated | - | 174 |
Cash and cash equivalents at the end of period | 8,407 | 8,756 |
- 6 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
GSI Creos Corporation published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2023 07:23:51 UTC.