JAPAN TISSUE ENGINEERING CO., LTD. Summary of Financial Report for the FY2021
(Non-Consolidated)
April 26, 2022
Listed Company Name: Japan Tissue Engineering Co., Ltd. Stock Code: 7774
Listed Securities Exchange: Tokyo Growth URLhttp://www.jpte.co.jp
Representative: Ken-ichiro Hata, President and CEO Contact: Masahito Obayashi, Corporate Officer
TEL (0533) 66-2020
(Rounding down to the nearest million yen)
1. Results for the FY2021 (April 1, 2021 to March 31, 2022)
(1) Business Results
(% indicate increase / decrease on previous fiscal year)
Net sales | Operating income | Ordinary income | Net income | |
FY2021 FY2020 | million yen %
| million yen -498 -466 % － － | million yen -494 -462 % － － | million yen -497 -466 % － － |
Net income per share | Net income per share, diluted | Return on equity | Return on assets | Operating income ratio | |
FY2021 FY2020 | yen -12.26 -11.49 | yen － － | % -7.2 -6.3 | % -6.3 -5.6 | % -23.7 -20.7 |
Note: Profit (Loss) on investment
FY2021 －million yenFY2020 －million yen
(2) Financial Condition
Total assets | Net assets | Equity ratio | Net assets per share | |
FY2021 FY2020 | million yen 7,598 8,119 | million yen 6,666 7,164 | % 87.7 88.2 | yen 164.16 176.42 |
Note: Shareholders' equity
FY2021: 6,666 million yen
FY2020: 7,164 million yen
(3) Cash Flow
Operating cash flow | Investing cash flow | Financing cash flow | Cash and equivalents at end of term | |
FY2021 FY2020 | million yen -225 -399 | million yen -116 125 | million yen -0 -1 | million yen 1,533 1,875 |
2. Cash Dividends
Dividends per share | Total dividend paid | Payout ratio | Ratio of total amount of dividends to net assets | |||||
Q1 end | Q2 end | Q3 end | Term end | Annual | ||||
FY2020 FY2021 | yen － － | yen 0.00 0.00 | yen － － | yen 0.00 0.00 | yen 0.00 0.00 | million yen － － | % － － | % － － |
FY2022 (Forecast) | － | 0.00 | － | 0.00 | 0.00 | － |
3. Forecast for FY2022 (April 1, 2022 to March 31, 2023)
(% indicate increase/decrease on previous year)
Net sales | Operating income | Ordinary income | Net income | Net income per share | |
FY2022 | million yen % 2,540 20.8 | million yen % -389 － | million yen % -384 － | million yen % -388 － | yen -9.57 |
*Disclaimer regarding appropriate use of forecasts and related points of note
The above-mentioned forecasts are based on the information available on the date of release of these materials and on various assumptions made on the date of release of these materials including uncertain factors and may affect future earnings. Actual operating results may differ significantly from those forecasts as a consequence of various factors.
Japan Tissue Engineering Co., Ltd. Non-consolidated Financial Statements for FY2021
(April 1, 2021 - March 31, 2022)
(1) Non-consolidated Balance Sheets
(Thousands of yen) | ||
FY2020 | FY2021 | |
As of March 31, 2021 | As of March 31, 2022 | |
Assets | ||
Current assets | ||
Cash and deposits | 5,275,871 | 4,933,319 |
Notes receivable - trade | 52,786 | 89,562 |
Accounts receivable - trade | 769,659 | 406,930 |
Merchandise and finished goods | 3,569 | － |
Work in process | 12,037 | 28,837 |
Raw materials and supplies | 188,464 | 158,448 |
Advance payments to suppliers | 46,999 | 58,330 |
Prepaid expenses | 5,221 | 18,135 |
Other | 189,990 | 252,372 |
Total current assets | 6,544,600 | 5,945,936 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings | 1,931,255 | 2,013,328 |
Accumulated depreciation | -1,142,676 | -1,199,663 |
Buildings, net | 788,578 | 813,664 |
Structures | 20,382 | 20,382 |
Accumulated depreciation | -18,378 | -18,629 |
Structures, net | 2,004 | 1,752 |
Machinery and equipment | 447,367 | 484,537 |
Accumulated depreciation | -336,281 | -348,839 |
Machinery and equipment, net | 111,085 | 135,698 |
Tools, furniture and fixtures | 330,132 | 367,015 |
Accumulated depreciation | -263,730 | -288,013 |
Tools, furniture and fixtures, net | 66,401 | 79,001 |
Land | 582,770 | 582,770 |
Leased assets | 3,720 | 3,720 |
Accumulated depreciation | -2,108 | -2,852 |
Leased assets, net | 1,612 | 868 |
Construction in progress | 2,610 | － |
Total property, plant and equipment | 1,555,063 | 1,613,755 |
Intangible assets | ||
Trademark right | 29 | － |
Software | 13,282 | 21,033 |
Other | 3,264 | 15,234 |
Total intangible assets | 16,575 | 36,267 |
Investments and other assets | ||
Investments in capital | 20 | 20 |
Other | 2,926 | 2,175 |
Total investments and other assets | 2,946 | 2,195 |
Total non-current assets | 1,574,585 | 1,652,219 |
Total assets | 8,119,186 | 7,598,156 |
(Thousands of yen) | ||
FY2020 | FY2021 | |
As of March 31, 2021 | As of March 31, 2022 | |
Liabilities | ||
Current liabilities | ||
Notes payable - trade | 116,052 | 73,239 |
Accounts payable - trade | 31,414 | 43,853 |
Lease liabilities | 866 | 803 |
Accounts payable - other | 337,434 | 275,164 |
Accrued expenses | 21,943 | 21,192 |
Income taxes payable | 14,394 | 26,001 |
Contract liabilities | － | 25,774 |
Advances received | 47,689 | 1,000 |
Deposits received | 8,638 | 8,919 |
Provision for bonuses | 134,001 | 126,668 |
Provision for bonuses for directors (and other officers) | 4,824 | 3,643 |
Other | 201,749 | 290,369 |
Total current liabilities | 919,009 | 896,630 |
Non-current liabilities | ||
Lease liabilities | 874 | 133 |
Provision for retirement benefits for directors (and other officers) | 34,900 | 34,900 |
Total non-current liabilities | 35,774 | 35,033 |
Total liabilities | 954,784 | 931,664 |
Net assets | ||
Shareholders' equity | ||
Share capital | 4,958,763 | 4,958,763 |
Capital surplus | ||
Legal capital surplus | 2,788,763 | 2,788,763 |
Total capital surplus | 2,788,763 | 2,788,763 |
Retained earnings | ||
Other retained earnings | ||
Retained earnings brought forward | -582,837 | -1,080,727 |
Total retained earnings | -582,837 | -1,080,727 |
Treasury shares | -287 | -307 |
Total shareholders' equity | 7,164,401 | 6,666,491 |
Total net assets | 7,164,401 | 6,666,491 |
Total liabilities and net assets | 8,119,186 | 7,598,156 |
(2) Non-consolidated Statements of Income
(Thousands of yen) | ||
FY2020 | FY2021 | |
Fiscal year ended | Fiscal year ended | |
March 31, 2021 | March 31, 2022 | |
Net sales | ||
revenue of entrusted development | 721,631 | 391,208 |
Net sales of merchandise and finished goods | 1,535,978 | 1,712,235 |
Total net sales | 2,257,609 | 2,103,443 |
Cost of sales | ||
cost of entrusted development | 458,953 | 165,358 |
Cost of merchandise and finished goods sold | ||
Beginning inventory of merchandise and finished goods | 2,798 | 3,569 |
Cost of purchased goods | 4,485 | － |
Cost of products manufactured | 643,978 | 694,351 |
Total | 651,261 | 697,921 |
Transfer to other account | *1 6,007 | *1 15,319 |
Ending inventory of merchandise and finished goods | 3,569 | － |
Cost of merchandise and finished goods sold | 641,684 | 682,602 |
Total cost of sales | 1,100,637 | 847,960 |
Gross profit | 1,156,972 | 1,255,483 |
Selling, general and administrative expenses | ||
Remuneration for directors (and other officers) | 68,552 | 61,177 |
Salaries and allowances | 401,186 | 462,050 |
Bonuses | 49,938 | 52,770 |
Provision for bonuses for directors (and other officers) | 4,824 | 3,643 |
Provision for bonuses | 42,710 | 41,954 |
Retirement benefit expenses | 4,324 | 4,653 |
Rent expenses on land and buildings | 25,732 | 17,579 |
Taxes and dues | 52,692 | 52,856 |
Depreciation | 19,882 | 17,838 |
Research and development expenses | *2 468,895 | *2 561,857 |
Commission expenses | 130,100 | 72,059 |
Supplies expenses | 20,457 | 37,364 |
Donations | 7,553 | 6,442 |
Other | 326,983 | 361,418 |
Total selling, general and administrative expenses | 1,623,833 | 1,753,666 |
Operating loss | -466,861 | -498,182 |
Non-operating income | ||
Interest income | 3,039 | 2,401 |
Dividend income | 0 | 0 |
Employment adjustment for persons with disabilities | 93 | 1,115 |
Income from employee | 908 | 943 |
Miscellaneous income | 896 | 1,236 |
Total non-operating income | 4,938 | 5,696 |
Non-operating expenses | ||
Foreign exchange losses | 747 | 13 |
Loss on retirement of non-current assets | 25 | 1,407 |
Miscellaneous losses | 87 | 142 |
Total non-operating expenses | 859 | 1,563 |
Ordinary loss | -462,782 | -494,049 |
Loss before income taxes | -462,782 | -494,049 |
Income taxes - current | 3,840 | 3,840 |
Total income taxes | 3,840 | 3,840 |
Loss | -466,622 | -497,889 |
(3) Non-consolidated Statements of Changes in Equity
FY2020 (Year ended March 31, 2021)
(Thousands of yen)
Shareholders' equity | Total net assets | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | ||
Legal capital surplus | Other retained earnings | |||||
Retained earnings brought forward | ||||||
Balance at beginning of period | 4,958,763 | 2,788,763 | -116,215 | -287 | 7,631,024 | 7,631,024 |
Cumulative effects of changes in accounting policies | − | − | ||||
Restated balance | 4,958,763 | 2,788,763 | -116,215 | -287 | 7,631,024 | 7,631,024 |
Changes during period | ||||||
Loss | -466,622 | -466,622 | -466,622 | |||
Purchase of treasury shares | − | − | − | |||
Total changes during period | − | − | -466,622 | − | -466,622 | -466,622 |
Balance at end of period | 4,958,763 | 2,788,763 | -582,837 | -287 | 7,164,401 | 7,164,401 |
FY2021 (Year ended March 31, 2022)
(Thousands of yen)
Shareholders' equity | Total net assets | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | ||
Legal capital surplus | Other retained earnings | |||||
Retained earnings brought forward | ||||||
Balance at beginning of period | 4,958,763 | 2,788,763 | -582,837 | -287 | 7,164,401 | 7,164,401 |
Cumulative effects of changes in accounting policies | − | − | ||||
Restated balance | 4,958,763 | 2,788,763 | -582,837 | -287 | 7,164,401 | 7,164,401 |
Changes during period | ||||||
Loss | -497,889 | -497,889 | -497,889 | |||
Purchase of treasury shares | -20 | -20 | -20 | |||
Total changes during period | − | − | -497,889 | -20 | -497,910 | -497,910 |
Balance at end of period | 4,958,763 | 2,788,763 | -1,080,727 | -307 | 6,666,491 | 6,666,491 |
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Japan Tissue Engineering Co. Ltd. published this content on 26 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 06:49:11 UTC.
