Komeri Co.,Ltd.

Equities

8218

JP3305600003

Home Improvement Products & Services Retailers

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-31 am EDT			5-day change	1st Jan Change
3,740 ^JPY	+1.22%		-.--%	+21.04%

May. 14	Komeri Co.,Ltd. Opposes Shareholder Proposal	CI
Apr. 24	Komeri's Attributable Profit Falls 19.8% in Fiscal 2024	MT

Komeri : Summary of Consolidated Financial Results for the Year Ended March 31, 2021 (Based on Japanese GAAP)

April 29, 2021 at 09:02 pm EDT

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 Year Ended March 31, 2021

(Based on Japanese GAAP)

April 27, 2021

Company name:

KOMERI CO., LTD.

Stock exchange listing:

Tokyo

Stock code:

8218

URL

https://www.komeri.bit.or.jp

Representative:

President, CEO

Yuichiro Sasage

Director and Executive Officer of the

Inquiries:

Company, General Manager of Strategic

Hiroshi Hayakawa

TEL 025-371-4111

Planning Office

Scheduled date of ordinary general meeting of shareholders:

June 25, 2021

Scheduled date to file Securities Report:

June 25, 2021

Scheduled date to commence dividend payments:

June 28, 2021

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)

(1) Consolidated operating results

Percentages indicate year-on-year changes

Operating revenue

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Millions of yen

Year ended March 31, 2021

385,700

10.7

30,326

64.2

30,369

63.1

20,402

70.9

Year ended March 31, 2020

348,573

0.5

18,469

1.9

18,625

2.1

11,941

9.2

			Diluted earnings per	Profit attributable to	Ordinary profit/total	Operating
	Earnings per share	owners of		profit/operating
				share	parent/equity		assets		revenue

		Yen		Yen			%			%		%
Year ended March 31, 2021		410.25			-			10.7			8.9		7.9
Year ended March 31, 2020		236.58		236.36			6.7			5.7		5.3
(2) Consolidated financial position
	Total assets	Net assets		Equity ratio	Net assets per share
	Millions of yen	Millions of yen				%			Yen
As of March 31, 2021		348,159			200,561				57.6			4,032.90
As of March 31, 2020		331,140			181,990				55.0			3,659.43
(3) Consolidated cash flows
	Cash flows from	Cash flows from		Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities		at end of period
	Millions of yen	Millions of yen		Millions of yen		Millions of yen
Year ended March 31, 2021		36,553			(14,232)				(14,569)			17,082
Year ended March 31, 2020		24,475			(9,816)				(9,039)			9,330
2. Cash dividends
			Annual dividends per share				Total cash	Dividend payout	Ratio of dividends
										to net assets
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total		dividends (Total)	ratio (Consolidated)	(Consolidated)


	Yen		Yen	Yen		Yen		Yen	Millions of yen		%	%
Year ended March 31, 2020	-	21.00	-		21.00		42.00	2,110		17.8	1.2
Year ended March 31, 2021	-	22.00	-		23.00		45.00	2,243		11.0	1.2
Year ending March 31, 2022	-	23.00	-		23.00		46.00			13.2
(Forecast)

				1

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

Operating revenue

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Six months ending

Millions of yen

Yen

209,000

2.7

19,200

(6.8)

19,300

(7.0)

12,800

(9.3)

257.38

September 30, 2021

Full year

382,000

0.0

27,500

(8.6)

27,600

(8.4)

17,300

(14.6)

347.87

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2021

(changes in specified subsidiaries resulting in the change in scope of consolidation):

(2) 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:

Changes in accounting policies due to other reasons:

Changes in accounting estimates:

Restatement of prior period financial statements:

(3) Number of issued shares (common shares)

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

As of March 31, 2021

54,409,168 shares

As of March 31, 2020

54,409,168 shares

Number of treasury shares at the end of the period

As of March 31, 2021

4,677,861 shares

As of March 31, 2020

4,677,174 shares

Average number of shares during the period

Year ended March 31, 2021

49,731,747 shares

Year ended March 31, 2020

50,474,190 shares

Consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Assets
Current assets
Cash and deposits	9,625	17,303
Notes and accounts receivable - trade	19,821	20,935
Merchandise and finished goods	109,119	114,131
Raw materials and supplies	512	259
Prepaid expenses	1,624	2,051
Other	5,481	4,100
Allowance for doubtful accounts	(534)	(668)
Total current assets	145,651	158,114
Non-current assets
Property, plant and equipment
Buildings and structures	236,612	247,537
Accumulated depreciation	(124,258)	(130,555)
Buildings and structures, net	112,353	116,981
Machinery, equipment and vehicles	14,773	14,952
Accumulated depreciation	(11,923)	(12,392)
Machinery, equipment and vehicles, net	2,850	2,560
Land	34,355	35,340
Leased assets	8,391	8,034
Accumulated depreciation	(4,876)	(4,136)
Leased assets, net	3,515	3,897
Construction in progress	3,141	1,504
Other	13,251	13,932
Accumulated depreciation	(10,960)	(11,587)
Other, net	2,290	2,345
Total property, plant and equipment	158,505	162,629
Intangible assets
Leasehold interests in land	5,349	5,783
Other	2,694	2,835
Total intangible assets	8,043	8,618
Investments and other assets
Investment securities	1,322	1,909
Long-term prepaid expenses	1,016	1,072
Deferred tax assets	7,820	7,742
Leasehold and guarantee deposits	8,218	7,268
Other	563	806
Allowance for doubtful accounts	(2)	(2)
Total investments and other assets	18,939	18,796
Total non-current assets	185,489	190,044
Total assets		331,140	348,159

			(Millions of yen)
		As of March 31, 2020	As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade	28,012	29,687
Electronically recorded obligations - operating	26,454	29,800
Short-term borrowings	8,500	-
Current portion of long-term borrowings	4,169	12,569
Accounts payable - other	7,728	8,852
Accrued expenses	268	278
Lease obligations	1,370	1,436
Income taxes payable	3,438	6,923
Accrued consumption taxes	2,722	2,280
Provision for bonuses	1,818	1,956
Provision for bonuses for directors (and other officers)	19	20
Provision for loss on store closings	44	-
Provision for point card certificates	739	814
Provision for loss on disaster	4	38
Notes payable - facilities	1,652	694
Other	4,100	4,740
Total current liabilities	91,044	100,094
Non-current liabilities
Long-term borrowings	38,640	27,870
Lease obligations	2,618	2,900
Deferred tax liabilities	-	61
Provision for retirement benefits for directors (and other	124	124
officers)

Provision for share awards for directors (and other	152	183
officers)

Retirement benefit liability	5,414	5,768
Long-term guarantee deposits	1,558	1,483
Asset retirement obligations	7,071	7,718
Other	2,524	1,391
Total non-current liabilities	58,105	47,502
Total liabilities	149,149	147,597
Net assets
Shareholders' equity
Share capital	18,802	18,802
Capital surplus	25,260	25,260
Retained earnings	148,676	166,934
Treasury shares	(11,239)	(11,241)
Total shareholders' equity	181,499	199,756
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	72	461
Deferred gains or losses on hedges	27	5
Remeasurements of defined benefit plans	390	338
Total accumulated other comprehensive income	491	805
Total net assets	181,990	200,561
Total liabilities and net assets		331,140	348,159

Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

			(Millions of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Net sales	337,326	373,253
Cost of sales	229,170	248,782
Gross profit	108,155	124,471
Operating revenue
Real estate lease revenue	11,247	12,447
Operating gross profit	119,402	136,918
Selling, general and administrative expenses
Advertising expenses	3,766	3,652
Sales supplies expenses	600	610
Provision for point card certificates	739	814
Salaries and allowances	34,397	35,651
Bonuses	1,753	1,996
Welfare expenses	6,461	6,616
Provision for bonuses	1,818	1,956
Provision for bonuses for directors (and other officers)	19	20
Retirement benefit expenses	1,029	771
Supplies expenses	1,248	2,296
Utilities expenses	3,932	3,732
Taxes and dues	2,857	3,109
Enterprise tax	1,006	1,062
Rent expenses	12,559	12,981
Depreciation	11,350	11,485
Store maintenance expenses	1,876	2,011
Other	15,516	17,821
Total selling, general and administrative expenses	100,933	106,591
Operating profit	18,469	30,326
Non-operating income
Interest income	14	15
Dividend income	95	92
Foreign exchange gains	82	-
Other	297	237
Total non-operating income	490	344
Non-operating expenses
Interest expenses	170	134
Foreign exchange losses	-	50
Expenses of soil pollution measures	-	53
Burial cultural asset investigation expense	69	11
Loss On Processed Gift Certificates	44	4
Other	49	47
Total non-operating expenses	334	302
Ordinary profit		18,625	30,369

			(Millions of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Extraordinary income
Insurance claim income	400	152
Gain on reversal of share acquisition rights	154	-
Gain on transition of retirement benefit plan	1,157	-
Total extraordinary income	1,712	152
Extraordinary losses
Loss on disposal of non-current assets	163	323
Impairment losses	1,607	249
Loss on disaster	427	235
Provision for share-based remuneration for directors (and	133	-
other officers)

Total extraordinary losses	2,331	808
Profit before income taxes	18,006	29,712
Income taxes - current	5,810	9,336
Income taxes - deferred	254	(26)
Total income taxes	6,064	9,310
Profit	11,941	20,402
Profit attributable to owners of parent		11,941	20,402

Consolidated statements of comprehensive income

		(Millions of yen)
	Fiscal year ended	Fiscal year ended
	March 31, 2020	March 31, 2021
Profit	11,941	20,402
Other comprehensive income
Valuation difference on available-for-sale securities	(328)	388
Deferred gains or losses on hedges	27	(22)
Remeasurements of defined benefit plans, net of tax	719	(52)
Total other comprehensive income	418	314
Comprehensive income	12,359	20,716
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	12,359	20,716
Comprehensive income attributable to non-controlling	-	-
interests

Consolidated statements of changes in equity

Fiscal year ended March 31, 2020

														(Millions of yen)
							Shareholders' equity
	Share capital			Capital surplus		Retained earnings		Treasury shares		Total shareholders'
							equity

Balance at beginning of period	18,802		25,260				138,811			(9,126)			173,747
Changes during period
Dividends of surplus									(2,076)					(2,076)
Profit attributable to owners									11,941					11,941
of parent

Purchase of treasury shares												(2,112)		(2,112)
Disposal of treasury shares					(0)							0		0
Net changes in items other
than shareholders' equity
Total changes during period			-		(0)				9,864			(2,112)		7,752
Balance at end of period	18,802		25,260				148,676			(11,239)			181,499

		Accumulated other comprehensive income
	Valuation				Remeasurements		Total accumulated	Share acquisition		Total net assets
	difference on		Deferred gains or		other
		of defined benefit			rights
	available-for-sale		losses on hedges		comprehensive
			plans
	securities						income

Balance at beginning of period	401			-		(328)				72	148		173,968
Changes during period
Dividends of surplus														(2,076)
Profit attributable to owners														11,941
of parent

Purchase of treasury shares														(2,112)
Disposal of treasury shares														0
Net changes in items other	(328)		27		719				418	(148)	270
than shareholders' equity

Total changes during period	(328)		27		719				418	(148)	8,022
Balance at end of period	72		27		390				491		-		181,990

Fiscal year ended March 31, 2021

													(Millions of yen)
							Shareholders' equity
	Share capital			Capital surplus		Retained earnings		Treasury shares		Total shareholders'
							equity

Balance at beginning of period	18,802		25,260				148,676			(11,239)		181,499
Changes during period
Dividends of surplus									(2,143)				(2,143)
Profit attributable to owners									20,402				20,402
of parent

Purchase of treasury shares											(1)		(1)
Disposal of treasury shares
Net changes in items other
than shareholders' equity
Total changes during period									18,258		(1)		18,256
Balance at end of period	18,802		25,260				166,934			(11,241)		199,756

		Accumulated other comprehensive income
	Valuation				Remeasurements		Total accumulated	Total net assets
	difference on		Deferred gains or		other
		of defined benefit
	available-for-sale		losses on hedges		comprehensive
			plans
	securities						income

Balance at beginning of period	72		27		390				491	181,990
Changes during period
Dividends of surplus											(2,143)
Profit attributable to owners											20,402
of parent

Purchase of treasury shares											(1)
Disposal of treasury shares
Net changes in items other	388		(22)		(52)				314	314
than shareholders' equity

Total changes during period	388		(22)		(52)				314	18,570
Balance at end of period	461		5		338				805	200,561

Consolidated statements of cash flows

		(Millions of yen)
	Fiscal year ended	Fiscal year ended
	March 31, 2020	March 31, 2021
Cash flows from operating activities
Profit before income taxes	18,006	29,712
Depreciation	11,350	11,485
Impairment losses	1,607	249
Loss (gain) on valuation of derivatives	(29)	(27)
Loss on disaster	427	235
Insurance claim income	(400)	(152)
Compensation income	(68)	(37)
Gain on reversal of share acquisition rights	(154)	-
Increase (decrease) in provision for bonuses	136	138
Increase (decrease) in provision for bonuses for directors (and	0	1
other officers)

Increase (decrease) in provision for share awards for directors	152	30
(and other officers)

Increase (decrease) in retirement benefit liability	(5,054)	278
Increase (decrease) in provision for point card certificates	56	75
Increase (decrease) in allowance for doubtful accounts	178	134
Interest and dividend income	(110)	(107)
Interest expenses	170	134
Loss (gain) on disposal of property, plant and equipment	163	323
Decrease (increase) in trade receivables	(2,122)	(1,114)
Decrease (increase) in inventories	281	(4,826)
Decrease (increase) in accounts receivable - other	(674)	594
Decrease (increase) in deposits paid	396	37
Decrease (increase) in prepaid expenses	338	(411)
Increase (decrease) in trade payables	2,841	5,020
Increase (decrease) in accounts payable - other	241	844
Increase (decrease) in accrued consumption taxes	980	(441)
Other, net	1,601	119
Subtotal	30,314	42,297
Interest and dividends received	109	109
Interest paid	(169)	(134)
Income taxes paid	(6,112)	(5,862)
Proceeds from compensation	68	37
Subsidies received	45	47
Proceeds from insurance income	400	152
Payments associated with disaster loss	(181)	(93)
Net cash provided by (used in) operating activities	24,475	36,553

			(Millions of yen)
		Fiscal year ended	Fiscal year ended
		March 31, 2020	March 31, 2021
Cash flows from investing activities
Net decrease (increase) in time deposits	(0)	72
Purchase of property, plant and equipment	(8,691)	(12,438)
Proceeds from sale of property, plant and equipment	30	196
Purchase of intangible assets	(1,062)	(1,444)
NetDecrease (increase) in lease and guarantee deposits	160	19
Other, net	(253)	(637)
Net cash provided by (used in) investing activities	(9,816)	(14,232)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings	(1,430)	(8,500)
Proceeds from long-term borrowings	10,500	2,000
Repayments of long-term borrowings	(12,239)	(4,369)
Repayments of lease obligations	(1,682)	(1,556)
Purchase of treasury shares	(2,112)	(1)
Proceeds from disposal of treasury shares	0	-
Dividends paid	(2,075)	(2,142)
Net cash provided by (used in) financing activities	(9,039)	(14,569)
Effect of exchange rate change on cash and cash equivalents	(0)	(0)
Net increase (decrease) in cash and cash equivalents	5,620	7,751
Cash and cash equivalents at beginning of period	3,710	9,330
Cash and cash equivalents at end of period		9,330	17,082

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Komeri Co. Ltd. published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2021 01:01:01 UTC.

Latest news about Komeri Co.,Ltd.

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Company Profile

KOMERI CO.,LTD. is a Japan-based company mainly engaged in the home center business. The Company is engaged in the sale of hardware, tools and construction materials, as well as the green products such as horticulture, plants and agricultural materials. The Company is engaged in the store operation of Power and Home Center, which sell life related products, and the operation of Hard & Green, which is engaged in the sale of hardware and horticulture products. The Company is also engaged in the product storage and delivery business, information processing and software development business, credit card and related business, insurance agency business, renovation work, cleaning, repair and maintenance work. It is also engaged in the delivery of fuel to group companies, the sale of liquefied petroleum gas, gasoline, kerosene and related equipment, the sale of books, and real estate leasing business.

Sector

Home Improvement Products & Services Retailers

Calendar

2024-07-22 - Q1 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

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Ratings for Komeri Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,740 JPY

Average target price

3,950 JPY

Spread / Average Target

+5.61%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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