Note: | This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy |
between this translated document and the Japanese original, the original shall prevail. | |
Consolidated Financial Results for the First Six-Month Period of
the Fiscal Year Ending March 31, 2022
(under IFRS)
November 11, 2021 | |
Company name: | ARUHI Corporation (the "Company") |
Listing: | Tokyo Stock Exchange |
Securities code: | 7198 |
URL: | https://www.aruhi-group.co.jp |
Representative: | Hiroshi Hamada, Chairman of the Board, Representative Director, President and CEO |
Inquiries: | Yasuko Matsumoto, Managing Director, CFO |
TEL: | +81-3-6229-0777 |
Scheduled date to file interim securities report: | November 12, 2021 |
Scheduled date to commence dividend payments: | December 13, 2021 |
Preparation of supplementary material on interim financial results: | Yes |
Holding of interim financial results presentation meeting: | Yes (for analysts) |
(Millions of yen with fractional amounts rounded down, unless otherwise noted)
1. Consolidated financial results for the first six-month period of the fiscal year ending March 31, 2022 (from April 1, 2021 to September 30, 2021)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | |||||||||||
Operating revenue | Income before tax | Net income | Net income attributable | |||||||||
to owners of the parent | ||||||||||||
Six-month period ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
September 30, 2021 | 13,037 | (1.8) | 3,322 | (16.5) | 2,286 | (15.3) | 2,293 | (15.0) | ||||
September 30, 2020 | 13,274 | 3.1 | 3,981 | (4.9) | 2,698 | (6.1) | 2,698 | (6.1) | ||||
Total comprehensive | Basic earnings per share | Diluted earnings per | ||||||||||
income | share | |||||||||||
Six-month period ended | Millions of yen | % | Yen | Yen | ||||||||
September 30, 2021 | 2,286 | (15.3) | 64.64 | 64.16 | ||||||||
September 30, 2020 | 2,698 | (6.1) | 76.60 | 75.71 | ||||||||
(2) Consolidated financial position | ||||||||||||
Equity attributable to | Ratio of equity | |||||||||||
Total assets | Total equity | attributable to owners of | ||||||||||
owners of the parent | ||||||||||||
the parent to total assets | ||||||||||||
As of | Millions of yen | Millions of yen | Millions of yen | % | ||||||||
September 30, 2021 | 152,146 | 30,957 | 30,962 | 20.4 | ||||||||
March 31, 2021 | 164,762 | 30,093 | 30,093 | 18.3 | ||||||||
2. Cash dividends
Annual dividends per share | |||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended | - | 25.00 | - | 30.00 | 55.00 | ||
March 31, 2021 | |||||||
Fiscal year ending | - | 30.00 | |||||
March 31, 2022 | |||||||
Fiscal year ending | |||||||
March 31, 2022 | - | 30.00 | 60.00 | ||||
(Forecast) | |||||||
Note: | Revisions to the forecast of cash dividends most recently announced: None |
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
(Percentages indicate year-on-year changes.) | |||||||||||
Net income | Basic earnings per | ||||||||||
Operating revenue | Income before tax | Net income | attributable to | ||||||||
share | |||||||||||
owners of the parent | |||||||||||
Millions | % | Millions | % | Millions | % | Millions | % | Yen | |||
of yen | of yen | of yen | of yen | ||||||||
Fiscal year ending | 29,500 | 10.0 | 8,520 | 10.0 | 5,700 | 10.1 | 5,700 | 10.1 | 161.38 | ||
March 31, 2022 | |||||||||||
Notes: 1. Revisions to the earnings forecasts most recently announced: None
2. The forecast of the basic earnings per share is calculated based on the weighted-average number of shares during the fiscal year ended March 31, 2021.
* Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Changes in accounting policies and changes in accounting estimates
- Changes in accounting policies required by IFRS: Yes
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
Note: | For details, please see "(5) Notes to condensed interim consolidated financial statements" in "2. Condensed interim | |||
consolidated financial statements and significant notes thereto" in the attached materials. | ||||
(3) Number of issued shares (ordinary shares) | ||||
a. Total number of issued shares at the end of the period (including treasury shares) | ||||
As of September 30, 2021 | 36,080,600 shares | |||
As of March 31, 2021 | 36,080,600 shares | |||
b. Number of treasury shares at the end of the period | ||||
As of September 30, 2021 | 771,860 shares | |||
As of March 31, 2021 | 578,760 shares | |||
c. Weighted-average number of shares during the period (cumulative from the beginning of the fiscal year)
For the six-month period ended September 30, 2021 | 35,485,027 shares |
For the six-month period ended September 30, 2020 | 35,227,608 shares |
- Interim financial results reports are exempt from interim review conducted by certified public accountants or an audit corporation.
-
Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual business and other results may differ substantially from these forecasts due to various factors.
Table of Contents of Appendix | ||
1. Qualitative information regarding results for the first six-month period ............................................................. | ||
Explanation of consolidated earnings forecasts and other forward-looking statements ................................ | ||
2. Condensed interim consolidated financial statements and significant notes thereto............................................ | 3 | |
(1) | Condensed interim consolidated statement of financial position ................................................................... | 3 |
(2) | Condensed interim consolidated statement of net income and condensed interim consolidated statement | |
of comprehensive income .............................................................................................................................. | 4 | |
(3) | Condensed interim consolidated statement of changes in equity................................................................... | 7 |
(4) | Condensed interim consolidated statement of cash flows.............................................................................. | 8 |
(5) | Notes to condensed interim consolidated financial statements ...................................................................... | 9 |
(Note on assumption of going concern) ........................................................................................................ | 9 | |
(Changes in accounting policies) .................................................................................................................. | 9 | |
(Segment information) .................................................................................................................................. | 9 |
- 1 -
1. Qualitative information regarding results for the first six-month period
-
Explanation of operating results
In the six-month period ended September 30, 2021, the business environment affecting the residential housing related industry, to which the Company belongs, faced a continuing uncertain situation due to the fourth and fifth waves of the novel coronavirus disease (COVID-19) and their prolonged impact. The number of new housing starts has shown a gradual recovery trend although it fell short of the level before the COVID-19 pandemic. On the other hand, an insufficient supply relative to demand has caused a sharp rise in prices, leading to weakness in the number of contracts signed for preowned condominiums and preowned houses. Regarding the outlook, against the backdrop of the lifting of the state of emergency, the increase in the percentage of the population that has been vaccinated and other factors, the number of new housing starts and the number of contracts signed for preowned condominiums and preowned houses will be expected to approach the levels before the COVID-19 pandemic. However, because there have been impacts due to customers forgoing purchases caused by the steep rise in prices for some properties, postponements in handovers caused by shortages or delays related to housing fixtures and appliances, etc., it is necessary to continue closely monitoring the situation.
Given this situation, based on the Mid-term Strategic Plan 2021, a five-year plan that started in this fiscal year, the Company promotes active efforts to improve corporate value. In the housing loan business, by reaching large real estate companies in cooperation with franchise stores while promoting regional-based marketing, such as by providing thorough and responsive support to franchise stores through regional branches, the number of loan originations (including refinancing) for the Company in the six-month period ended September 30, 2021 decreased moderately by 8.3% year on year amid a decline of 12.1% year on year in the number of loan originations in the Flat 35 market overall. In addition, the purchase and resale business for residential real estate operated by ARUHI Real Estate Technologies Corporation has been performing well, recording its first sales in this interim period.
As a result, operating revenue for the six-month period ended September 30, 2021 was ¥13,037 million, a decrease of 1.8% year on year. The reason for this result is that although loan execution operations saw a 5.4% decrease year on year and financing operations saw an 11.0% decrease year on year due to the drop in the number of loan originations, loan management and collection operations and insurance-related operations, which are stock-type revenue related to housing loans executed in the past, showed solid growth, increasing 14.8% and 25.6%, respectively. Due to an increase in strategic expenses such as advertising expenses, income before tax decreased 16.5% year on year to ¥3,322 million. Net income decreased 15.3% year on year to ¥2,286 million, and net income attributable to owners of the parent decreased 15.0% year on year to ¥2,293 million.
As the Company operates within the single segment of housing loan related business, a presentation by segment is omitted. - Explanation of financial position (Assets)
As of September 30, 2021, assets were ¥152,146 million, a decrease of ¥12,615 million compared with March 31, 2021. This was primarily due to cash and cash equivalents decreasing ¥6,363 million, and operating loans receivable decreasing ¥8,083 million.
(Liabilities)
As of September 30, 2021, liabilities were ¥121,189 million, a decrease of ¥13,478 million compared with March 31, 2021. This was primarily due to deposits received decreasing ¥5,994 million and borrowings decreasing ¥8,096 million.
(Equity)
As of September 30, 2021, equity was ¥30,957 million, an increase of ¥863 million compared with March 31, 2021. This was primarily due to the recording of net income of ¥2,286 million, despite dividends of surplus of ¥1,065 million. - Explanation of consolidated earnings forecasts and other forward-looking statements
There is no revision to the consolidated earnings forecasts for the fiscal year ending March 31, 2022 announced on "Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (under IFRS)" released on May 11, 2021. - 2 -
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Aruhi Corporation published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 06:26:29 UTC.