MYNET 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 Three Months Ended March 31, 2022 (Based on Japanese GAAP)
May 13, 2022
Company name: | Mynet Inc. | ||||
Stock exchange listing: | Tokyo | ||||
Stock code: | 3928 | URL https://mynet.co.jp/ | |||
Representative: | President and CEO | Jin Uehara | |||
Inquiries: | Managing Executive Officer | Takuya Nishimura | TEL 03-6864-4261 | ||
Scheduled date to file Quarterly Securities Report: | May 13, 2022 | ||||
Scheduled date to commence dividend payments: | - | ||||
Preparation of supplementary material on quarterly financial results: | Yes | ||||
Holding of quarterly financial results meeting: | Yes | (for institutional investors and analysts) |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2022 (from January 1, 2022 to March 31, 2022)
(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 | % | |||
Three months ended March 31, 2022 | 2,595 | (13.2) | 56 | (81.4) | 58 | (80.5) | 54 | (76.3) |
Three months ended March 31, 2021 | 2,989 | - | 304 | - | 300 | - | 227 | - |
Note: Comprehensive income Three months ended March 31, 2022 | ¥62 million | [ (72.5)%] | ||||||
Three months ended March 31, 2021 | ¥227 million | [ -%] | ||||||
Earnings per share | Diluted earnings per share | |||||||
Yen | Yen | |||||||
Three months ended March 31, 2022 | 6.23 | - | ||||||
Three months ended March 31, 2021 | 26.49 | 26.40 |
Note: Diluted earnings per share for the three months ended March 31, 2022 are not presented, because there are no dilutive shares with dilutive effects.
(2) Consolidated financial position | ||||||||||
Total assets | Net assets | Equity ratio | ||||||||
Millions of yen | Millions of yen | % | ||||||||
As of March 31, 2022 | 5,658 | 2,825 | 49.8 | |||||||
As of December 31, 2021 | 5,814 | 2,817 | 48.3 | |||||||
Reference: Equity | As of March 31, 2022 | ¥2,819 million | ||||||||
As of December 31, 2021 | ¥2,806 million | |||||||||
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 December 31, 2021 | - | 0.00 | - | 6.00 | 6.00 | |||||
Year ending December 31, 2022 | - | |||||||||
Year ending December 31, 2022 (Forecast) | 6.00 | - | 6.00 | 12.00 |
Note: Revision of cash dividends forecast most recently announced: No
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3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)
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 | % | ||
Full year | 11,000 | 4.1 | 200 | (65.4) | 175 | (68.0) | 120 | (47.7) | |
Note: Revision of consolidated financial results forecast most recently announced: No | |||||||||
4. Notes | |||||||||
(1) Changes in significant subsidiaries during the three months ended March 31, 2022 | Yes | ||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | |||||||||
Newly included:－ | Excluded: 1 company MYLOOPS inc. | ||||||||
(2) Application of special accounting methods for preparing quarterly consolidated financial statements: | 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 March 31, 2022 | 8,698,760 | shares | As of December 31, 2021 | 8,698,760 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2022 | 44,965 | shares | As of December 31, 2021 | 23,480 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended March 31, 2022 | 8,674,803 | shares | Three months ended March 31, 2021 | 8,603,328 | 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
The forward-looking statements, including the financial forecasts shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. As such, they do not constitute guarantees by the Company of future performance. Actual performance and other results may differ materially from these forecasts due to various factors.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Thousands of yen) | |||
As of December 31, 2021 | As of March 31, 2022 | ||
Assets | |||
Current assets | |||
Cash and deposits | 3,500,153 | 3,236,000 | |
Accounts receivable - trade | 1,063,202 | - | |
Accounts receivable - trade, and contract assets | - | 1,003,305 | |
Accounts receivable - other | 38,825 | 40,158 | |
Income taxes receivable | 146,187 | 146,179 | |
Other | 252,594 | 449,953 | |
Allowance for doubtful accounts | (9,585) | (4,453) | |
Total current assets | 4,991,377 | 4,871,143 | |
Non-current assets | |||
Property, plant and equipment | 74,387 | 74,922 | |
Intangible assets | |||
Goodwill | 222,933 | 202,349 | |
Other | 26,314 | 22,665 | |
Total intangible assets | 249,248 | 225,014 | |
Investments and other assets | |||
Investment securities | 182,291 | 199,553 | |
Leasehold deposits | 113,891 | 111,852 | |
Long-term prepaid expenses | 76,845 | 55,814 | |
Deferred tax assets | 125,814 | 118,950 | |
Other | 708 | 1,179 | |
Total investments and other assets | 499,551 | 487,351 | |
Total non-current assets | 823,186 | 787,289 | |
Total assets | 5,814,564 | 5,658,432 | |
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(Thousands of yen) | |||
As of December 31, 2021 | As of March 31, 2022 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 255,287 | 314,699 | |
Accounts payable - other | 239,077 | 180,997 | |
Advances received | 334,447 | - | |
Contract liabilities | - | 259,255 | |
Short-term borrowings | - | 194,440 | |
Current portion of long-term borrowings | 161,048 | 112,164 | |
Current portion of bonds payable | 400,000 | 400,000 | |
Income taxes payable | 84,746 | 2,110 | |
Provision for bonuses | - | 36,939 | |
Other | 167,819 | 201,929 | |
Total current liabilities | 1,642,426 | 1,702,536 | |
Non-current liabilities | |||
Long-term borrowings | 543,199 | 514,787 | |
Bonds payable | 800,000 | 600,000 | |
Asset retirement obligations | 10,962 | 9,454 | |
Lease obligations | - | 6,099 | |
Total non-current liabilities | 1,354,161 | 1,130,340 | |
Total liabilities | 2,996,587 | 2,832,876 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 46,483 | 46,483 | |
Capital surplus | 1,387,290 | 1,387,290 | |
Retained earnings | 1,372,940 | 1,371,901 | |
Treasury shares | (353) | (353) | |
Total shareholders' equity | 2,806,360 | 2,805,321 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 5,740 | 14,358 | |
Total accumulated other comprehensive income | 5,740 | 14,358 | |
Share acquisition rights | 5,875 | 5,875 | |
Total net assets | 2,817,977 | 2,825,555 | |
Total liabilities and net assets | 5,814,564 | 5,658,432 | |
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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen) | |||
Three months ended | Three months ended | ||
March 31, 2021 | March 31, 2022 | ||
Net sales | 2,989,817 | 2,595,182 | |
Cost of sales | 1,744,279 | 1,551,796 | |
Gross profit | 1,245,538 | 1,043,386 | |
Selling, general and administrative expenses | 940,759 | 986,584 | |
Operating profit | 304,779 | 56,802 | |
Non-operating income | |||
Interest income | 13 | 17 | |
Foreign exchange gains | 2,677 | 1,629 | |
Subsidy income | - | 3,409 | |
Interest on refund of income taxes | 6 | - | |
Other | 10 | 559 | |
Total non-operating income | 2,708 | 5,614 | |
Non-operating expenses | |||
Interest expenses | 873 | 2,552 | |
Interest on bonds | 1,674 | 1,290 | |
Loss on investments in investment partnerships | 4,087 | - | |
Other | 473 | - | |
Total non-operating expenses | 7,109 | 3,842 | |
Ordinary profit | 300,378 | 58,574 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 2,260 | 133 | |
Impairment losses | 2,530 | - | |
Total extraordinary losses | 4,791 | 133 | |
Profit before income taxes | 295,586 | 58,440 | |
Income taxes - current | 40,821 | 2,073 | |
Income taxes - deferred | 26,878 | 2,306 | |
Total income taxes | 67,699 | 4,380 | |
Profit | 227,886 | 54,060 | |
Profit attributable to owners of parent | 227,886 | 54,060 | |
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Mynet Inc. published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 16:12:57 UTC.
