SCREEN HOLDINGS CO., LTD. SCREEN Holdings Co., Ltd.
May 10, 2023
CONSOLIDATED FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED MARCH 31, 2023 [Japanese GAAP]
SCREEN Holdings Co., Ltd. is listed on the Prime Market of the Tokyo Stock Exchange with the securities code number 7735. (URL https://www.screen.co.jp/en)
Representative: | Toshio Hiroe, President, Member of the Board and CEO | |
For further information contact: | Akihiko Miyagawa, Corporate Officer and Department head of Finance & Accounting | |
Tel: +81-75-414-7155 | ||
Date of the annual shareholders' meeting: June 23, 2023 | Date of payment for cash dividends: June 26, 2023 | |
Date planned for the filing of the financial report: June 26, 2023 |
Figures have been rounded down to eliminate amounts less than one million yen, except per share figures.
PERFORMANCE (APR. 1, 2022-MAR. 31, 2023)
(1) Business Results | (Millions of yen, except per share figures) | |||||||||
(Percentage are the rate of increase or decrease from the previous fiscal year) | ||||||||||
Net Sales | Percentage | Operating | Percentage | Ordinary | Percentage | |||||
Change | Income | Change | Income | Change | ||||||
Fiscal year ended | ¥ | 460,834 | 11.9% | ¥ | 76,452 | 24.8% | ¥ 77,393 | 30.2% | ||
Mar. 31, 2023 | ||||||||||
Fiscal year ended | 411,865 | 28.6 | 61,273 | 150.2 | 59,438 | 161.6 | ||||
Mar. 31, 2022 | ||||||||||
Note: Comprehensive income | ||||||||||
Fiscal year ended Mar. 31, 2023: ¥ 56,408 million (29.7%) | ||||||||||
Fiscal year ended Mar. 31, 2022: ¥ 43,499 million (19.4%) | ||||||||||
Profit | Basic Earnings | Diluted | Return on | Return on | ||||||
Attributable to | Percentage | Return on | Assets | Sales | ||||||
per Share | Earnings per | |||||||||
Owners of | Change | Equity | (Ordinary | (Operating | ||||||
(Yen) | Share (Yen) | |||||||||
Parent | Income Basis) | Income Basis) | ||||||||
Fiscal year ended | ¥ | 57,491 | 26.4% | ¥ | 1,216.33 | ¥ 1,185.25 | 21.0% | 15.1% | 16.6% | |
Mar. 31, 2023 | ||||||||||
Fiscal year ended | 45,481 | 199.9 | 976.55 | 926.17 | 19.9 | 14.1 | 14.9 | |||
Mar. 31, 2022 | ||||||||||
Reference: Equity in earnings (losses) of affiliates accounted for by the equity method | ||||||||||
Fiscal year ended Mar. 31, 2023: ¥ (252) million | ||||||||||
Fiscal year ended Mar. 31, 2022: ¥ (23) million | ||||||||||
(2) Financial Position | ||||||||||
Total Assets | Net Assets | Equity Ratio | Net Assets per Share | |||||||
(%) | (Yen) | |||||||||
Mar. 31, 2023 | ¥ | 562,816 | ¥ | 299,926 | 53.3% | ¥ 6,325.44 | ||||
Mar. 31, 2022 | 459,305 | 247,788 | 53.9 | 5,318.32 | ||||||
Reference: Equity | ||||||||||
As of Mar. 31, 2023: ¥ 299,888 million | ||||||||||
As of Mar. 31, 2022: ¥ 247,715 million | ||||||||||
(3) Cash Flows | ||||||||||
Operating | Investing | Financing | Cash and Cash Equivalents, | |||||||
Activities | Activities | Activities | End of Period | |||||||
Fiscal year ended | ¥ | 73,906 | ¥ | (12,514) | ¥ | (20,961) | ¥ 173,660 | |||
Mar. 31, 2023 | ||||||||||
Fiscal year ended | 81,752 | (9,952) | (4,951) | 131,011 | ||||||
Mar. 31, 2022 | ||||||||||
- 1 -
SCREEN Holdings Co., Ltd.
CASH DIVIDENDS
(Yen) | |||||||||||
Cash Dividends per Share | Total | Ratio of | |||||||||
Dividends | Payout Ratio | Dividends to | |||||||||
First | Second | Third | |||||||||
Record date | Year-end | Annual | (Annual) | (Consolidated) | Net Assets | ||||||
Quarter-end | Quarter-end | Quarter-end | (Millions of yen) | (Consolidated) | |||||||
Fiscal year ended | ¥ － | ¥ － | ¥ － | ¥ 293.00 | ¥ 293.00 | ¥ 13,699 | 30.0 % | 6.0 % | |||
Mar. 31, 2022 | |||||||||||
Fiscal year ended | － | － | － | 365.00 | 365.00 | 17,362 | 30.0 | 6.3 | |||
Mar. 31, 2023 | |||||||||||
Fiscal year ending | |||||||||||
Mar. 31, 2024 | － | 140.00 | － | 114.00 | － | 30.1 | |||||
(Forecast) | |||||||||||
The Company plans to implement a stock split of common stock in the ratio of 1 share into 2 shares, with an effective date of October 1, 2023. The amount forecast for the Second Quarter-end of the fiscal year ending March 31, 2024 is on a pre-split basis and the amount forecast for the Year-end of the fiscal year ending March 31, 2024 is on a post-split basis. The annual dividend forecast is not shown since it cannot be simply summed up due to the stock split. The annual dividend on a pre-split basis is projected to be ¥368.00 per share. For details, please refer to "Explanation for appropriate use of forecasts and other notes."
FORECAST OF BUSINESS RESULTS FOR THE FISCAL YEAR ENDING MARCH 31, 2024
(Millions of yen, except per share figures) (Percentage are the rate of increase or decrease from the previous corresponding period)
Net Sales | Percentage Change | Operating Income | Percentage Change | |||
Six months period ending | ¥ 229,000 | 4.9% | ¥ 35,500 | -7.0% | ||
Sept. 30, 2023 | ||||||
Fiscal year ending | 495,000 | 7.4 | 85,000 | 11.2 | ||
Mar. 31, 2024 | ||||||
Percentage | Profit Attributable | Percentage | Basic Earnings per | |||
Ordinary Income | to Owners of | |||||
Change | Change | Share (Yen) | ||||
Parent | ||||||
Six months period ending | ¥ 34,000 | -12.1% | ¥ 22,000 | -25.9% | ¥ 464.04 | |
Sept. 30, 2023 | ||||||
Fiscal year ending | 82,000 | 6.0 | 58,000 | 0.9 | 611.69 | |
Mar. 31, 2024 | ||||||
The amount shown for basic earnings per share in the business results forecast for the fiscal year ending March 31, 2024, is calculated factoring in the impact of the stock split. For details, please refer to "Explanation for appropriate use of forecasts and other notes."
- 2 -
[Notes]
(1) Changes in significant consolidated subsidiaries (Changes in specified subsidiaries involving changes in scope of consolidation): No
New Company: Not applicable | Exclusion: Not applicable |
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies accompanied by revision of accounting standard etc.: Yes
- Changes in accounting policies other than 1: No
- Changes in accounting estimates: No
-
Retrospective restatement: No
Please refer to P.15 [Notes to consolidated financial statements - (Changes in accounting policies)] for more information.
- Number of shares outstanding
- Number of shares outstanding as of end of period (including treasury stock)
As of Mar. 31, 2023: 50,794,866 shares | As of Mar. 31, 2022: 50,794,866 shares | |
2. | Number of treasury stock as of end of period | |
As of Mar. 31, 2023: 3,385,014 shares | As of Mar. 31, 2022: 4,217,043 shares | |
3. | Average number of shares outstanding | |
Fiscal year ended Mar. 31, 2023: 47,266,104 shares Fiscal year ended Mar. 31, 2022: 46,573,843 shares | ||
Please refer to P.18 [Notes to consolidated financial statements - (PER SHARE INFORMATION)] for more information. |
*This financial report is exempt from the auditing procedures by certified public accountants or audit firm.
*Explanation for appropriate use of forecasts and other notes
The forward-looking statements such as operational forecasts contained in this document are based on the information currently available to SCREEN Holdings and certain assumptions that are regarded as legitimate. SCREEN Holdings does not promise that the forecasts or estimates will be accurate. Large discrepancies may be seen in the actual results due to various factors.
(Outlook of consolidated business results and dividends following the stock split)
The company, at the Board of Directors' Meeting on May 10, 2023, has resolved to implement a stock split in the ratio of 1 share into 2 shares, with an effective date of October 1, 2023. In addition, by resolution of the Board of Directors, the Company also has resolved to propose at the 82nd Ordinary General Meeting of Shareholders to be held on June 23, 2023 to introduce an interim dividend and make corresponding partial amendment to the Articles of Incorporation, and plans to pay interim dividend contingent on approval at the ordinary general meeting of shareholders. The outlook for consolidated business results and dividends for the fiscal year ending March 31, 2024, calculated without factoring in stock split, is as follows.
- Consolidated business results forecast for the fiscal year ending March 31, 2024 Basic earnings per share for the full year: ¥ 1,223.37
- Dividends forecast for the fiscal year ending March 31, 2024 Cash dividends per share at second quarter-end: ¥ 140.00 Cash dividends per share at fiscal year-end: ¥ 228.00 Total: ¥ 368.00
- 3 -
SCREEN Holdings Co., Ltd.
BUSINESS RESULTS, etc.
1. Business Results
Consolidated Business Results
During the fiscal year ended March 31, 2023, although there were signs of a gradual recovery of the global economy, the pace of economic recovery has slowed down recently, due to supply constraints such as shortages of components, as well as soaring raw material prices and global monetary tightening in line with rising inflationary pressures and other factors.
With regard to the business conditions surrounding the SCREEN Group, capital investments in the electronics industry showed signs of contraction in some parts due to a decline in demand for smartphones, PCs, and other products as a backlash to the extraordinary demand caused by COVID-19. Meanwhile, we saw steady growth of capital investments in the fields of miniaturization, power semiconductors, and packaging technology in line with the progress in IoT technologies and digital transformation driven by the growing use of 5G and AI, as well as green transformation. On the other hand, concerns over the conflict between the U.S. and China and the impact on national security issues have increased further. In addition, display manufacturers have been revising the capital investment plan mainly due to falling panel prices.
Under these circumstances, for the fiscal year ended March 31, 2023, the SCREEN Group posted consolidated net sales of ¥460,834 million, an increase of ¥48,968 million (11.9%) from the previous fiscal year. On the earnings front, as the result of an increase in net sales and other factors, operating income totaled ¥76,452 million, up ¥15,179 million (24.8%) year on year. Ordinary income amounted to ¥77,393 million, up ¥17,954 million (30.2%) year on year. In addition, as a result of gains in extraordinary income for the sales of shares of subsidiaries and associates and other factors, profit attributable to owners of parent was ¥57,491 million, up ¥12,009 million (26.4%) compared with the previous fiscal year.
Results by Business Segment
Performance by reportable segment is as follows.
The Semiconductor Production Equipment (SPE) Business
In the SPE business, foundry and logic sales increased year on year, despite a decline in sales to memory. By region, sales to China fell, while sales to Taiwan and Europe grew. As a result, net sales in this segment amounted to ¥370,934 million, up 16.1％ year on year. On the earnings front, operating income in this segment came to ¥76,950 million, up 22.5％ year on year, mainly reflecting the increase in sales.
The Graphic Arts Equipment (GA) Business
In the GA business, net sales in this segment amounted to ¥45,609 million, up 5.3％ year on year, due to increased sales of equipment and recurring business, mainly ink. On the earnings front, operating income was ¥3,397 million, up 107.6％ year on year due mainly to an increase in sales.
The Display Production Equipment and Coater (FT) Business
In the FT business, sales of production equipment declined due to the sluggish capital investment by display manufacturers. As a result, net sales in this segment amounted to ¥26,189 million, down 21.3％ year on year. On the earnings front, operating loss came to ¥1,840 million, compared with operating income of ¥587 million in the previous fiscal year, mainly reflecting the decrease in net sales.
The PCB-Related Equipment (PE) Business
In the PE business, sales of direct imaging system rose due to such factors as increasing data center demand. As a result, net sales in this segment amounted to ¥16,835 million, up 26.5％ year on year. On the earnings front, operating income in this segment came to ¥3,358 million, up 61.9％ year on year, due mainly to an increase in sales.
- 4 -
SCREEN Holdings Co., Ltd.
2. Financial Position
Assets, Liabilities and Net Assets
Total assets as of March 31, 2023 stood at ¥562,816 million, an increase of ¥103,510 million, or 22.5%, compared with March 31, 2022. This was largely due to an increase in cash and deposits as well as inventories.
Total liabilities amounted to ¥262,889 million, up ¥51,372 million, or 24.3%, compared with the end of the previous fiscal year. This was mainly attributable to an increase in contract liabilities and notes and accounts payable, including electronically recorded obligations, despite a decrease in convertible bond-type bonds with share acquisition rights.
Total net assets amounted to ¥299,926 million, up ¥52,138 million, or 21.0%, compared with the end of the previous fiscal year. This was mainly attributable to the recording of profit attributable to owners of parent and the conversion of convertible bond-type bonds with share acquisition rights - the latter causing both an increase in capital surplus and a decrease in treasury stock, despite the payment of cash dividends.
As a result, the equity ratio as of March 31, 2023 stood at 53.3％.
Financial Indicators
Fiscal year ended
Mar.31, 2019
Fiscal year ended
Mar.31, 2020
Fiscal year ended
Mar.31, 2021
Fiscal year ended
Mar.31, 2022
Fiscal year ended
Mar.31, 2023
Equity ratio (%) | 47.0 | 50.0 | 54.5 | 53.9 | 53.3 | |
Return on equity (ROE) (%) | 10.3 | 2.8 | 7.9 | 19.9 | 21.0 | |
3. Cash Flows
The status of cash flows during the fiscal year ended March 31, 2023 is as follows.
Net cash provided by operating activities amounted to ¥73,906 million, compared with ¥81,752 million provided by operating activities in the previous fiscal year. This was because the sum of income before income taxes, an increase in other current liabilities, an increase in notes and accounts payable including electronically recorded obligations, and other inflows exceeded the sum of income taxes paid, an increase in inventories, an increase in notes and accounts receivable including electronically recorded monetary claims and inventories, and other outflows.
Net cash used in investing activities amounted to ¥12,514 million, compared with ¥9,952 million used in investing activities in the previous fiscal year. This was largely attributable to payments associated with construction of a new factory and other outflows, which exceeded income from the sales of shares of subsidiaries and associates and other inflows.
Net cash used in financing activities totaled ¥20,961 million, compared with ¥4,951 million used in financing activities in the
previous fiscal year. This was due mainly to cash dividends paid and redemption of convertible bond-type bonds with share acquisition rights.
As a result, cash and cash equivalents as of March 31, 2023 totaled ¥173,660 million, up ¥42,649 million from March 31, 2022, including effect of exchange rate changes on cash and cash equivalents.
- 5 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
SCREEN Holdings Co. Ltd. published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 06:46:02 UTC.
