NAKANISHI INC. Flash Report for 1st quarter Ended March 31, 2023
(on a consolidated basis) [Japan GAAP]
May 12, 2023
Name: Nakanishi Inc. Stock listing: Tokyo Stock Exchange : Standard Market
Code Number: 7716 URL: http://www.nsk-nakanishi.co.jp
Representative: Eiichi Nakanishi, President and Group CEO
Inquiries: Daisuke Suzuki, Corporate Vice President, Finance & Accounting Tel: +81-289-64-3380
Scheduled date to submit Securities Report: May 15, 2023
Scheduled date to begin dividend payments: -
Supplementary materials to quarterly financial statements: Applicable
Quarterly earnings results briefing: Not applicable
(All amounts are rounded down to the nearest million yen.)
1. Consolidated financial results for 1st quarter period (January 1 to March 31, 2023)
(1) Operating Results
Millions of yen | ||||||
Net sales | EBITDA | Operating income | ||||
1st quarter ended March 31, 2023 | 13,615 | 13.6% | 4,698 | 8.5% | 4,041 | 4.0% |
1st quarter ended March 31, 2022 | 11,981 | 5.7% | 4,329 | － | 3,886 | 5.7% |
Millions of yen | ||||||
Income attributable | Earnings | Diluted | ||||
Ordinary income | per share | |||||
to owners of parent | EPS (yen) | |||||
(yen) | ||||||
1st quarter ended March 31, 2023 | 4,597 | 5.1% | 3,305 | 5.2% | 38.83 | 38.73 |
1st quarter ended March 31, 2022 | 4,374 | 6.3% | 3,142 | 2.2% | 36.50 | 36.41 |
Notes: 1. Percentage figures for net sales, operating income, ordinary income and net income represent year-on-year comparisons.
2. Comprehensive income for reporting period:
1st quarter ended March 31, 2023 | 3,911 million (-5.9%) |
1st quarter ended March 31, 2022 | 4,156 million (10.4%) |
3. EBITDA (Operating income + Depreciation + Goodwill amortization)
- Financial Position
Millions of yen | ||||
Total assets | Net assets | Equity ratio | ||
As of March 31, 2023 | 103,008 | 92,356 | 89.4% | |
As of December 31, 2022 | 102,154 | 91,022 | 88.8% | |
Note: Ownersʼ equity As of March 31, 2023 | 92,070 million |
As of December 31, 2022 90,737 million
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2. Dividends
Cash dividends per share (yen) | ||||||||
1st quarter | 2nd quarter | 3rd quarter | Year-end | Annual | ||||
Year ending December 31, 2022 | ̶ | 22.00 | ̶ | 24.00 | 46.00 | |||
Year ending December 31, 2023 | ̶ | |||||||
Year ending December 31, 2023 | 24.00 | ̶ | 24.00 | 48.00 | ||||
(forecast) | ||||||||
Notes: 1. Revisions to dividend payment forecasts during the period: Not applicable
3. Business Performance Forecasts for the Current Term (January 1 to December 31, 2023) Millions of yen
Income | Earnings per | ||||||||
Operating | attributable to | ||||||||
share (yen) | |||||||||
Net sales | income | Ordinary income | owners of parent | ||||||
First-half period | 25,556 | 4.5 | 7,616 | -6.3 | 7,892 | -16.8 | 5,461 | -19.1 | 64.14 |
Full year | 52,272 | 7.4 | 15,070 | -2.1 | 15,836 | -10.3 | 10,976 | -12.0 | 128.91 |
Notes: 1. Percentage figures represent year-on-year comparisons.
2. Revisions to performance forecasts during the period: Not applicable
4. Others
-
Changes in the scope of consolidation during the period Inclusion: None
Exclusion: None - Application of special accounting methods in the preparation of quarterly consolidated financial statements: Not applicable
- Changes in accounting principles, accounting estimates, and restatement
- Changes in accounting principles due to revision of accounting standards, etc.: Not applicable
- Changes in accounting principles other than 1: Not applicable
- Changes in accounting estimates: Not applicable
- Restatement: Not applicable
- Number of ordinary shares outstanding at the end of the period (including treasury stock)
As of March 31, 2023: | 94,259,400 shares |
As of December 31, 2022: | 94,259,400 shares |
Number of shares of treasury stock at the end of the period
As of March 31, 2023: | 9,285,653 shares |
As of December 31, 2022: | 9,105,053 shares |
Average number of shares during the period
1st quarter ended March 31, 2023: 85,114,760 shares
1st quarter ended March 31, 2022: 86,098,948 shares
* This quarterly flash report is out of scope of quarterly review.
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Table of Contents | ||
1. Qualitative Information on Quarterly Financial Results | 4 | |
(1) | Explanation of Results of Operations | 4 |
(2) | Explanation of Financial Position | 4 |
(3) | Explanation of Forecast of Consolidated Financial Results and Other Forward-Looking | 5 |
Information | ||
2. Consolidated Quarterly Financial Statements and Principal Notes | 6 | |
(1) | Consolidated Quarterly Balance Sheets | 6 |
(2) | Consolidated Quarterly Statements of Income and Comprehensive Income | 8 |
(Consolidated Quarterly Statements of Income) | 8 | |
(Consolidated Quarterly Statements of Comprehensive Income) | 9 | |
(3) | Notes to Consolidated Quarterly Financial Statements | 10 |
(Notes to Going Concern Assumption) | 10 | |
(Notes to Significant Changes in the Amount of Shareholdersʼ Equity) | 10 | |
(Changes in the scope of consolidation during the period) | 10 | |
(Segment Information） | 11 |
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1. Qualitative Information on Quarterly Financial Results
(1) Explanation of Results of Operations
In the world economy during 1st quarter, inflation is almost getting to the peak but CPI is still high. There are some uneasy due to the bankrupt of Silicon Valley Bank and Credit Suisse. So uncertainty for the future is increasing.
In Japanese economy, capital investments keep steady about manufacturing industry. About non- manufacturing industry, demands on outdoor business are increasing thanks to recovery from COVID- 19 pandemic. However there is shortage of manpower.
Under these circumstances, all 3 segments sales increased. EBITDA increased as well.
By the way, our company introduced EBITDA (Operating income + Depreciation + Goodwill amortization) for KPI at the beginning of 2023.
As a result, the Group sales were ¥13,615,683 thousand (+13.6% year on year), EBITDA 4,698,020 thousand (+8.5%), operating income was ¥4,041,903 thousand (+4.0%), ordinary income was 4,597,039 thousand (+5.1%) and income attributable to owners of parent for the quarter was ¥3,305,092 thousand (+5.2%).
The following is a breakdown of business performance by segment. （Dental segment）
In Dental segment, North America sales decreased but Domestic, Europe and Asia sales increased. Segment EBITDA was increased as well.
As a result, sales were 10,809,389 thousand (+7.1%) and segment EBITDA was 4,804,484 thousand (+9.1%).
(Surgical segment)
In Surgical segment, North America and Europe sales decreased but Domestic and Asia sales increased. Total sales increased. Segment EBITDA decreased a little.
As a result, sales were 813,165 thousand (+2.5%) and segment EBITDA was 413,284 thousand (- 2.7%).
（Industrial segment）
In Industrial segment, Europe sales increased by 5 times because our company acquired Alfred Jäger GmbH shares at the end of 2022. And Domestic, North America and Asia sales increased as well. Total sales increased. Segment EBITDA increased as well.
As a result, sales were 1,993,128 thousand (+82.4 %) and segment EBITDA was 593,924 thousand (+46.3%).
-
Explanation of Financial Position (Assets, liabilities and net asset)
Total assets at the end of 1st quarter were 103,008,799 thousand and increased by 854,339 thousand compared with the end of the previous fiscal year. The main reasons were that Money held in trust decreased by 2,014,230 thousand but Cash and deposits increased by 1,283,230 thousand and Accounts receivable - trade increased by 780,066 thousand.
Total liabilities were 10,652,331 thousand and decreased by 479,472 thousand compared with the end of the previous fiscal year. The main reason was that Income taxes payable decreased by 1,391,288 thousand.
Net asset was 92,356,468 thousand and increased by 1,333,812 thousand compared with the end of the previous fiscal year. The main reasons were that Retained earnings increased by ¥1,227,220 thousand and Foreign currency translation adjustment by ¥733,555 thousand. - 4 －
(3) Explanation of Forecast of Consolidated Financial Results and Other Forward-Looking Information We will not change the forecast announced on February 9, 2023. However, our company introduced EBITDA (Operating income + Depreciation + Goodwill amortization) for KPI at the beginning of 2023, adding EBITDA into forecast.
First-half period
The amount | % | |
Sales | 25,556 million | 4.5 |
EBITDA | 8,882 million | -2.0 |
Operating income | 7,616 million | -6.3 |
Ordinary profit | 7,892 million | -16.8 |
Net income attributable to | 5,461 million | -19.1 |
owners of parent | ||
Full year | ||
The amount | % | |
Sales | 52,272 million | 7.4 |
EBITDA | 17,603 million | 0.6 |
Operating income | 15,070 million | -2.1 |
Ordinary profit | 15,836 million | -10.3 |
Net income attributable to | 10,976 million | -12.0 |
owners of parent | ||
(Note) Percentage figures represent year-on-year comparisons.
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Nakanishi Inc. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 07:12:02 UTC.
