*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 Fiscal Year Ended March 31, 2023
[Japan GAAP]
May 15, 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 Executive Officer Tel: +81-3-5418-2122 | ||
Scheduled Date of Ordinary General Meeting of Shareholders: | June 28, 2023 | ||
Scheduled Date of Dividend Payments Commencement: | June 29, 2023 | ||
Scheduled Date of Securities Report Filing: | June 28, 2023 | ||
Supplementary Documents: | Yes | ||
Holding of Financial Results Meeting: | Yes |
(Note: Amounts less than one million of yen have been rounded down.)
1. Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)
(1) Consolidated Operating Results | (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 | % | |||
Fiscal year ended March 31, 2023 | 131,054 | 17.2 | 1,829 | (8.9) | 1,787 | (5.1) | 1,769 | 8.0 | ||
Fiscal year ended March 31, 2022 | 111,829 | ― | 2,008 | (44.7) | 1,882 | (49.1) | 1,638 | (19.1) |
(Note) Comprehensive income | Fiscal year ended March 31, 2023 |
Fiscal year ended March 31, 2022 |
: | 2,204 | millions of yen | (7.1) | % |
: | 2,058 | millions of yen | (52.4) | % |
Net income | Diluted net income | Ratio of | Ratio of | |||||
Return on equity | ordinary profit | operating profit | ||||||
per share | per share | |||||||
to total assets | to net sales | |||||||
Yen | Yen | % | % | % | ||||
Fiscal year ended March 31, 2023 | 144.29 | ― | 7.0 | 2.7 | 1.4 | |||
Fiscal year ended March 31, 2022 | 132.95 | ― | 6.9 | 3.1 | 1.8 | |||
(Reference) Equity in earnings of affiliates | Fiscal year ended March 31, 2023 | : 55 millions of yen | ||||||
Fiscal year ended March 31, 2022 | : (152) millions of yen |
*"Accounting Standards for Revenue Recognition" (ASBJ Statement No. 29) has been adopted since the beginning of the previous consolidated fiscal year. Figures for the fiscal year ended March 31, 2022 are stated after the application of the new accounting standard, and about net sales, the ratio of figures changes from the previous fiscal year is not indicated.
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||
March 31, 2023 | 69,412 | 25,929 | 37.4 | 2,114.55 | ||||||||||||
March 31, 2022 | 60,929 | 24,512 | 40.2 | 2,000.04 | ||||||||||||
(Reference) Equity capital | March 31, 2023 | : | 25,929 millions of yen | |||||||||||||
March 31, 2022 | : | 24,512 millions of yen | ||||||||||||||
(3) Consolidated Cash Flows | ||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |||||||||||||
equivalents | ||||||||||||||||
operating activities | investing activities | financing activities | ||||||||||||||
at the end of period | ||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||||||||
Fiscal year ended March 31, 2023 | (1,719) | 1,257 | 632 | 8,352 | ||||||||||||
Fiscal year ended March 31, 2022 | (7,084) | 622 | (481) | 8,078 | ||||||||||||
2. Dividends | ||||||||||||||||
Annual dividend per share | Total | Payout | Dividend rate to | |||||||||||||
1Q | 2Q | 3Q | Fiscal | Annual | cash | ratio | net assets | |||||||||
year end | dividends | (Consolidated) | (Consolidated) | |||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |||||||||
Fiscal year ended March 31, 2022 | - | 0.00 | - | 65.00 | 65.00 | 796 | 48.9 | 3.4 | ||||||||
Fiscal year ended March 31, 2023 | - | 0.00 | - | 73.00 | 73.00 | 895 | 50.6 | 3.5 | ||||||||
Fiscal year ending | - | 0.00 | - | 80.00 | 80.00 | 50.3 | ||||||||||
March 31, 2024 (Forecast) | ||||||||||||||||
*The year-end dividend per share for the fiscal year ended March 31, 2023 is changed from 70.00 yen to 73.00 yen. |
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 | Net income | |||||||
to owners | |||||||||||
per share | |||||||||||
of parent | |||||||||||
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 |
- 1 ー
* Notes
(1) | Changes in Significant Subsidiaries During the Period |
(Changes in Specified Subsidiaries Associated with Changes in the Scope of Consolidation) : No | |
(2) | Changes in Accounting Policies and Estimates, and Retrospective Restatement |
ⅰ Changes in accounting policies due to revisions of accounting standards and other regulations : No |
ⅱ Changes in accounting policies other than in (ⅰ) : No
ⅲ Changes in accounting estimates : No
ⅳ Retrospective restatement : No
-
Number of Shares Issued and Outstanding (Common Stock)
ⅰ Number of shares issued and outstanding at the end of period (including treasury stock)
March 31, 2023 | 12,629,942 shares | March 31, 2022 | 12,629,942 shares |
- Number of treasury stock at the end of period
March 31, 2023 | 367,565 shares | March 31, 2022 | 373,684 shares |
- Average number of shares during the period
Year ended March 31, 2023 | 12,260,615 shares | Year ended March 31, 2022 | 12,324,556 shares |
[Reference] Summary of Non-Consolidated Results
Non-Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)
(1) Non-Consolidated Operating Results | (Percentage figures represent changes from the same period of the previous year.) | |||||||||||
Net sales | Operating profit | Ordinary profit | Profit | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||
Fiscal year ended March 31, 2023 | 68,088 | 25.4 | 915 | (2.6) | 1,179 | (9.2) | 1,409 | (35.1) | ||||
Fiscal year ended March 31, 2022 | 54,307 | ― | 940 | (66.3) | 1,299 | (53.1) | 2,171 | 23.8 | ||||
Net income | Diluted net income | |||||||||||
per share | per share | |||||||||||
Yen | Yen | |||||||||||
Fiscal year ended March 31, 2023 | 114.96 | ― | ||||||||||
Fiscal year ended March 31, 2022 | 176.16 | ― |
*"Accounting Standards for Revenue Recognition" (ASBJ Statement No. 29) has been adopted since the beginning of the previous fiscal year. Figures for the fiscal year ended March 31, 2022 are stated after the application of the new accounting standard, and about net sales, the ratio of figures changes from the previous fiscal year is not indicated.
(2) Non-Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | ||||||
Millions of yen | Millions of yen | % | Yen | ||||||
March 31, 2023 | 45,170 | 18,524 | 41.0 | 1,510.66 | |||||
March 31, 2022 | 41,721 | 18,140 | 43.5 | 1,480.13 | |||||
(Reference) Equity capital | March 31, 2023 | : | 18,524 | millions of yen | |||||
March 31, 2022 | : | 18,140 | millions of yen |
- This financial report is out of scope of the audit 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, the company do not constitute a guarantee that they will be realized. Actual results could differ significantly from forecasts due to a variety of factors.
- 2 ー
Consolidated Financial Statements
(1)Consolidated Balance Sheets
(Millions of yen) | ||
Previous fiscal year | Current fiscal year | |
(March 31,2022) | (March 31,2023) | |
Assets | ||
Current assets | ||
Cash and deposits | 8,078 | 8,352 |
Notes receivable-trade | 1,649 | 1,486 |
Electronically recorded monetary claims-operating | 1,989 | 2,118 |
Accounts receivable-trade | 24,703 | 31,798 |
Merchandise | 8,960 | 10,179 |
Goods in transit | 677 | 1,041 |
Raw materials | 121 | 164 |
Other | 2,960 | 2,958 |
Allowance for doubtful accounts | (175) | (450) |
Total current assets | 48,963 | 57,650 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 3,248 | 3,250 |
Accumulated depreciation | (2,465) | (2,493) |
Buildings and structures, net | 783 | 756 |
Machinery, equipment and vehicles | 2,133 | 2,148 |
Accumulated depreciation | (2,116) | (2,122) |
Machinery, equipment and vehicles, net | 17 | 26 |
Tools, furniture and fixtures | 443 | 411 |
Accumulated depreciation | (358) | (328) |
Tools, furniture and fixtures, net | 85 | 82 |
Land | 2,393 | 2,365 |
Leased assets | 516 | 1,016 |
Accumulated depreciation | (260) | (506) |
Leased assets, net | 256 | 510 |
Construction in progress | 122 | ― |
Total property, plant and equipment | 3,659 | 3,741 |
Intangible assets | ||
Good will | 436 | 379 |
Leased assets | 187 | 111 |
Other | 112 | 140 |
Total intangible assets | 736 | 631 |
Investments and other assets | ||
Investment securities | 5,716 | 5,483 |
Investments in capital | 791 | 869 |
Long-term loans receivable | 12 | 7 |
Deferred tax assets | 55 | 97 |
Net defined benefit asset | 496 | 420 |
Other | 608 | 585 |
Allowance for doubtful accounts | (111) | (74) |
Total investments and other assets | 7,570 | 7,389 |
Total non-current assets | 11,965 | 11,761 |
Total assets | 60,929 | 69,412 |
- 3 ー
(Millions of yen) | ||
Previous fiscal year | Current fiscal year | |
(March 31,2022) | (March 31,2023) | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable-trade | 18,514 | 23,959 |
Short-term loans payable | 10,919 | 12,821 |
Current portion of long-term loans payable | 90 | 83 |
Lease obligations | 106 | 196 |
Income taxes payable | 123 | 341 |
Contract liabilities | 780 | 620 |
Provision for bonuses | 448 | 486 |
Provision for directors' bonuses | 32 | 33 |
Provision for loss on head office relocation | 30 | ― |
Other | 3,190 | 2,914 |
Total current liabilities | 34,239 | 41,456 |
Non-current liabilities | ||
Long-term loans payable | 1,236 | 1,153 |
Lease obligations | 201 | 381 |
Deferred tax liabilities | 654 | 411 |
Net defined benefit liability | 76 | 72 |
Asset retirement obligations | 8 | 7 |
Total non-current liabilities | 2,177 | 2,026 |
Total liabilities | 36,416 | 43,482 |
Net assets | ||
Shareholders' equity | ||
Capital stock | 7,186 | 7,186 |
Capital surplus | 855 | 859 |
Retained earnings | 14,405 | 15,377 |
Treasury stock | (291) | (287) |
Total shareholders' equity | 22,154 | 23,135 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,926 | 1,725 |
Deferred gains or losses on hedges | 17 | (15) |
Foreign currency translation adjustment | 295 | 1,053 |
Remeasurements of defined benefit plans | 119 | 31 |
Total accumulated other comprehensive income | 2,358 | 2,793 |
Total net assets | 24,512 | 25,929 |
Total liabilities and net assets | 60,929 | 69,412 |
- 4 ー
(2)Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
(Millions of yen) | ||
Previous fiscal year | Current fiscal year | |
(April 1,2021- | (April 1,2022- | |
March 31,2022) | March 31,2023) | |
Net sales | 111,829 | 131,054 |
Cost of sales | 98,886 | 117,033 |
Gross profit | 12,942 | 14,020 |
Selling, general and administrative expenses | ||
Haulage and warehousing expenses | 1,370 | 1,366 |
Sales related expenses | 1,644 | 1,844 |
Provision of allowance for doubtful accounts | (17) | 238 |
Directors' compensations, salaries and allowances | 2,743 | 2,821 |
Employees' bonuses | 366 | 397 |
Provision for bonuses | 441 | 471 |
Provision for directors' bonuses | 32 | 33 |
Retirement benefit expenses | 111 | 92 |
Other salaries | 793 | 748 |
Depreciation | 270 | 323 |
Other | 3,175 | 3,853 |
Total selling, general and administrative expenses | 10,934 | 12,190 |
Operating profit | 2,008 | 1,829 |
Non-operating income | ||
Interest income | 60 | 47 |
Dividends income | 62 | 74 |
Land and house rent received | 6 | 5 |
Share of profit of entities accounted for using equity method | 8 | 143 |
Gain on forgiveness of debt | ― | 54 |
Other | 107 | 140 |
Total non-operating income | 246 | 466 |
Non-operating expenses | ||
Interest expenses | 133 | 197 |
Share of loss of entities accounted for using equity method | 161 | 88 |
Foreign exchange losses | 36 | 157 |
Other | 39 | 65 |
Total non-operating expenses | 371 | 508 |
Ordinary profit | 1,882 | 1,787 |
- 5 ー
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GSI Creos Corporation published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 07:27:03 UTC.