KAWADA TECHNOLOGIES, INC. 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 Nine Months Ended December 31, 2021 (Based on Japanese GAAP)
February 10, 2022 | ||||
Company name: | KAWADA TECHNOLOGIES, INC | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 3443 | URL https://www.kawada.jp/ | ||
Representative: | President | Kawada Tadahiro | ||
Inquiries: | Managing Director and Chief Financial | Watanabe Satoru | TEL 03-3915-7722 | |
Officer | ||||
Scheduled date to file Quarterly Securities Report: | February 14, 2022 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)
(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 | % | ||||
Nine months ended December 31, 2021 | 78,181 | - | 5,401 | - | 5,902 | - | 3,914 | - | |||
Nine months ended December 31, 2020 | 85,880 | (6.5) | 347 | (88.9) | 2,350 | (46.9) | 2,169 | (38.4) | |||
Note: Comprehensive income Nine months ended December 31, 2021 | ¥4,320 million | [-%] | |||||||||
Nine months ended December 31, 2020 | ¥1,807 million | [(49.8)%] | |||||||||
Earnings per share | Diluted earnings per share | ||||||||||
Yen | Yen | ||||||||||
Nine months ended December 31, 2021 | 663.74 | - | |||||||||
Nine months ended December 31, 2020 | 368.69 | 368.41 |
Note: As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29) and relevant revised ASBJ regulations from the beginning of the first quarter of the fiscal year ending March 31, 2022, each figure for the nine months ended December 31, 2021, is the figure after the application of the said standard, etc., and year-on-year changes are not presented.
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |||||
Millions of yen | Millions of yen | % | |||||
As of December 31, 2021 | 128,035 | 70,870 | 54.7 | ||||
As of March 31, 2021 | 147,408 | 66,964 | 44.8 | ||||
Reference: Equity | As of December 31, 2021 | ¥70,020 | million | ||||
As of March 31, 2021 | ¥66,102 | million |
Note: As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29) and relevant revised ASBJ regulations from the beginning of the first quarter of the fiscal year ending March 31, 2022, each figure as of December 31, 2021, is the figure after the application of the said standard, etc.
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, 2021 | - | - | - | 80.00 | 80.00 | ||||||||||
Year ending March 31, 2022 | - | - | - | ||||||||||||
Year ending March 31, 2022 (Forecast) | 100.00 | 100.00 | |||||||||||||
Note: Revisions to the cash dividend forecasts most recently announced: Yes | |||||||||||||||
Breakdown of fiscal year-end dividends for the fiscal year ending March 31, 2022 (forecast): | |||||||||||||||
Ordinary dividend of ¥80.00, and commemorative dividend of ¥20.00 | |||||||||||||||
3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022) | |||||||||||||||
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 | 101,000 | - | 5,000 | - | 5,900 | - | 3,900 | - | 660.71 |
Note: Revisions to the consolidated earnings forecasts most recently announced: Yes
Note: As the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29) and relevant revised ASBJ regulations from the beginning of the fiscal year ending March 31, 2022, the figures in the forecast of consolidated financial results presented above are the figures after the application of the said standard, etc., and year-on-year changes are not presented.
4. Notes
- Changes in significant subsidiaries during the nine months ended December 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
No
(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: | Yes |
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 December 31, 2021 | 5,915,870 | shares | As of March 31, 2021 | 5,915,870 | shares | |
Number of treasury shares at the end of the period | ||||||
As of December 31, 2021 | 13,098 | shares | As of March 31, 2021 | 25,153 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Nine months ended December 31, 2021 | 5,897,520 | shares | Nine months ended December 31, 2020 | 5,884,403 | shares |
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Proper use of forecasts of financial results, and other special matters
Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Results may differ materially from the consolidated forecasts due to various factors.
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 10,852 | 14,056 | |
Notes receivable, accounts receivable from completed | 59,006 | 42,909 | |
construction contracts and other | |||
Costs on construction contracts in progress | 3,932 | 359 | |
Other inventories | 1,071 | 1,117 | |
Other | 5,122 | 2,966 | |
Allowance for doubtful accounts | (5) | (4) | |
Total current assets | 79,980 | 61,405 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 6,187 | 6,149 | |
Machinery, vehicles, tools, furniture and fixtures, net | 3,104 | 3,353 | |
Aircraft, net | 821 | 707 | |
Land | 14,965 | 14,965 | |
Leased assets, net | 1,364 | 1,156 | |
Construction in progress | 301 | 106 | |
Total property, plant and equipment | 26,744 | 26,438 | |
Intangible assets | 962 | 1,093 | |
Investments and other assets | |||
Investment securities | 2,770 | 2,523 | |
Shares of subsidiaries and associates | 34,463 | 34,699 | |
Deferred tax assets | 1,829 | 1,139 | |
Other | 671 | 748 | |
Allowance for doubtful accounts | (14) | (13) | |
Total investments and other assets | 39,720 | 39,097 | |
Total non-current assets | 67,427 | 66,630 | |
Total assets | 147,408 | 128,035 |
3
(Millions of yen) | |||
As of March 31, 2021 | As of December 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes payable, accounts payable for construction contracts | 23,714 | 20,137 | |
and other | |||
Short-term borrowings | 20,789 | 3,400 | |
Current portion of long-term borrowings | 4,462 | 4,832 | |
Current portion of bonds payable | 150 | 440 | |
Lease obligations | 485 | 439 | |
Income taxes payable | 626 | 416 | |
Advances received on construction contracts in progress | 6,330 | 2,078 | |
Unearned revenue | 223 | 1,492 | |
Provision for bonuses | 2,159 | 1,058 | |
Provision for warranties for completed construction | 112 | 55 | |
Provision for loss on construction contracts | 1,936 | 1,446 | |
Other | 4,621 | 5,594 | |
Total current liabilities | 65,612 | 41,390 | |
Non-current liabilities | |||
Bonds payable | 625 | 1,135 | |
Long-term borrowings | 8,357 | 8,887 | |
Lease obligations | 1,014 | 833 | |
Deferred tax liabilities | 87 | 85 | |
Deferred tax liabilities for land revaluation | 1,475 | 1,475 | |
Provision for retirement benefits for directors (and other | 529 | 584 | |
officers) | |||
Retirement benefit liability | 2,427 | 2,477 | |
Asset retirement obligations | 138 | 135 | |
Negative goodwill | 112 | 97 | |
Other | 63 | 63 | |
Total non-current liabilities | 14,831 | 15,775 | |
Total liabilities | 80,443 | 57,165 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 5,285 | 5,285 | |
Capital surplus | 10,732 | 10,778 | |
Retained earnings | 46,754 | 50,341 | |
Treasury shares | (36) | (44) | |
Total shareholders' equity | 62,736 | 66,361 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,355 | 1,506 | |
Revaluation reserve for land | 978 | 978 | |
Foreign currency translation adjustment | 415 | 542 | |
Remeasurements of defined benefit plans | 617 | 632 | |
Total accumulated other comprehensive income | 3,366 | 3,659 | |
Share acquisition rights | 1 | 1 | |
Non-controlling interests | 859 | 847 | |
Total net assets | 66,964 | 70,870 | |
Total liabilities and net assets | 147,408 | 128,035 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Nine months ended | Nine months ended | ||
December 31, 2020 | December 31, 2021 | ||
Net sales | 85,880 | 78,181 | |
Cost of sales | 78,283 | 65,088 | |
Gross profit | 7,596 | 13,092 | |
Selling, general and administrative expenses | 7,249 | 7,691 | |
Operating profit | 347 | 5,401 | |
Non-operating income | |||
Interest and dividend income | 201 | 139 | |
Rental income | 113 | 110 | |
Amortization of negative goodwill | 15 | 15 | |
Share of profit of entities accounted for using equity method | 1,962 | 450 | |
Subsidy income | 272 | 339 | |
Other | 170 | 123 | |
Total non-operating income | 2,736 | 1,180 | |
Non-operating expenses | |||
Interest expenses | 280 | 233 | |
Rental expenses | 362 | 345 | |
Other | 90 | 100 | |
Total non-operating expenses | 733 | 679 | |
Ordinary profit | 2,350 | 5,902 | |
Extraordinary income | |||
Gain on extinguishment of tie-in shares | - | 18 | |
Subsidy income | 6 | 4 | |
Total extraordinary income | 6 | 22 | |
Extraordinary losses | |||
Impairment losses | 4 | 0 | |
Loss on tax purpose reduction entry of non-current assets | 4 | 4 | |
Loss on valuation of investment securities | - | 189 | |
Total extraordinary losses | 9 | 194 | |
Profit before income taxes | 2,347 | 5,730 | |
Income taxes - current | 299 | 995 | |
Income taxes - deferred | (155) | 708 | |
Total income taxes | 144 | 1,704 | |
Profit | 2,203 | 4,026 | |
Profit attributable to non-controlling interests | 33 | 112 | |
Profit attributable to owners of parent | 2,169 | 3,914 |
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
KAWADA Technologies Inc. published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 06:13:04 UTC.
