Summary of Consolidated Financial Results
for the First Quarter Fiscal Year 2023, Ending March 31, 2024 (JGAAP)
August 8,2023 | ||||||||||||||||||||||
Company name | Sumitomo Osaka Cement Co., Ltd | Stock Exchange Listing | Tokyo | |||||||||||||||||||
Stock code | 5232 | URL | https://www.soc.co.jp/ | |||||||||||||||||||
Representative | (Job Title) Managing Director (Name) | Hirotsune Morohashi | ||||||||||||||||||||
Contact Manager | (Job Title) General Manager | (Name) | Chitaru Imai | (TEL) ;+81-3-6370-2725 | ||||||||||||||||||
Scheduled | date | to | submitAugust 9, 2023 | Scheduled date to | commence | ー | ||||||||||||||||
the Quarterly Report | dividend payments | |||||||||||||||||||||
Availability of supplementary briefing | :Not available | |||||||||||||||||||||
material on quarterly financial results | ||||||||||||||||||||||
Scheduled | date | of | Quarterly | Financial:Not available | ||||||||||||||||||
Results Briefing Session | ||||||||||||||||||||||
(Figures are rounded down to the nearest million yen) | ||||||||||||||||||||||
1.Consolidated Financial Results for the first quarter | ||||||||||||||||||||||
(From April 1, 2023 to June 30, 2023) | ||||||||||||||||||||||
(1)Consolidated operating results(cumulative) | (% indicated changes from the previous | |||||||||||||||||||||
corresponding term) | ||||||||||||||||||||||
Quarterly net | ||||||||||||||||||||||
Net sales | Operating profit | Ordinary profit | profit attributable | |||||||||||||||||||
to owners of the | ||||||||||||||||||||||
parent | ||||||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||||||
FY ending March, 2024 | 52,766 | 16.0 | 127 | - | 1,363 | - | 5,183 | - | ||||||||||||||
the first quarter | ||||||||||||||||||||||
FY ending March, 2023 | 45,500 | 3.9 | △3,147 | - | △2,795 | - | △1,107 | - | ||||||||||||||
the first quarter | ||||||||||||||||||||||
(Note) Comprehensive | FY ending March | 4,384 Millions (-%) | FY ending March 2023 | Millions ( -%) | ||||||||||||||||||
profit | 2024 the first | of yen | the first quarter △5,583 of yen | |||||||||||||||||||
quarter | ||||||||||||||||||||||
Quarterly net | ||||||||||||||||||||||
Quarterly net | profit per share | |||||||||||||||||||||
profit per share | after adjusting | |||||||||||||||||||||
potential share | ||||||||||||||||||||||
Yen Sen | Yen | Sen | ||||||||||||||||||||
FY ending | March,2024 | 151.34 | ― | |||||||||||||||||||
the first quarter | ||||||||||||||||||||||
FY ending March,2023 | △32.20 | ― | ||||||||||||||||||||
The first quarter | ||||||||||||||||||||||
(2)Consolidated Financial Status | ||||||||||||||||||||||
Total assets | Net assets | Net assets ratio | ||||||||||||||||||||
Millions of yen | Millions of yen | % | ||||||||||||||||||||
FY ending March,2024 | 353,348 | 186,874 | 52.3 | |||||||||||||||||||
the first quarter term | ||||||||||||||||||||||
FY ending March,2023 | 356,558 | 184,591 | 51.2 | |||||||||||||||||||
(Reference) | Net | FY ending March, 2024 184,708 | Millions | FY ending | 182,438 Millions | |||||||||||||||||
assets | the first quarter | of yen | March | of yen | ||||||||||||||||||
2023 |
2.Dividend Status
Annual Dividend | |||||||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | |||||
Yen | Sen | Yen Sen | Yen Sen | Yen Sen | Yen Sen | ||||
FY ending March,2023 | ― | 60.00 | ― | 60.00 | 120.00 | ||||
FY ending March,2024 | ― | ||||||||
End of March,2024 | 60.00 | ― | 60.00 | 120.00 | |||||
(Forecast) | |||||||||
(Note) Revisions from the most recently published dividend forecast | :None |
3.The fiscal year ending March,2024 Consolidated Performance Forecast (From April 1, 2023 to March 31, 2024)
(% indicates changes from the previous corresponding term)
Net profit | ||||||||||||
Net sales | Operating profit | Ordinary profit | attributable to | Net profit | ||||||||
owners of the | per share | |||||||||||
parent | ||||||||||||
The 2nd | quarter | Millions of | % | Millions of | % | Millions of | % | Millions of | % | Yen Sen | ||
yen | yen | yen | yen | |||||||||
(Cumulative) | 108,800 | 13.7 | △600 | - | 200 | - | 3,800 | - | 110.94 | |||
Full Year | 230,000 | 12.4 | 6,100 | - | 6,500 | - | 9,500 | - | 277.35 | |||
(Note) | Presence or absence of revisions from the most recently announced earnings forecast | : Presence |
※ Notes
(1)Changes in significant subsidiaries during this consolidated cumulative quarter :None
(Changes od subsidiaries involving changes in the scope of consolidation)
New -Company | (Name of | Excluded -Company | (Name of |
Company) | company) | ||
(2)Adoption of specific accounting treatments to the preparation of quarterly :None consolidated financial statements
(3)Changes in accounting policies, changes in accounting estimation or restatements ① Changes in accounting policies due to the revision
of accounting standards
② Changes in accounting policies other than ①
③ Changes in accounting estimation
④ Restatements | : None |
(4) Numbers of Shares Issued(Common stock)
① Total number of issued shares (including treasury stock)
- Total number of treasury stocks
- Average number of shares during the period(cumulative)
FY ending March, | FY ending March, | ||||
2024 | 34,329,517 | Shares | 2023 | 34,329,517 | Shares |
1Q | |||||
FY ending March, | FY ending March, | ||||
2024 | 76,816 | Shares | 2023 | 76,673 | Shares |
1Q | |||||
FY ending March, | FY ending March, | ||||
2024 | 34,252,745 | Shares | 2023 | 34,387,092 | Shares |
1Q | 1Q | ||||
- The quarterly Financial Reports are outside of the scope of quarterly review by certified public accountants and audit corporations
- Explanation for the appropriate use of performance forecasts and other special notes:
The statements regarding forecast of financial results in this report are based on the information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. For the suppositions that from the assumptions for profit forecast and cautions concerning the user thereof, please refer to "1, Qualitative Information on Quarterly Financial Results" and "(3) Qualitative Information on Forecast of Consolidated Financial Results and Other Forward-Looking Information" on page 2 of the Appendix
- Table of Contents of Appendix
1.Qualitative Information on Quarterly Financial Results | ………………………………2 | |
(1) | Qualitative information on consolidated operational results | …………………………2 |
(2) | Qualitative information on consolidated financial position | ……………………………2 |
(3) | Qualitative information on consolidated financial results | |
and other forward-looking information | …………………………………………2 |
2.Notes on Quarterly Consolidated Financial Statements and Principal ……………………3
(1)Quarterly consolidated balance sheet ………………………………………………………… 3
(2)Quarterly consolidated profit and loss calculation and comprehensive profit …… 5
(3)Notes to Quarterly Consolidated Financial Statements ………………………………………7
(Notes to going concern assumption) …………………………………………………………7
(Notes to significant changes in the amount of shareholders' equity) ………………7
(Segment information) ……………………………………………………………………………7
3.Supplementary Information …………………………………………………………………………8
(1) Consolidated segment profit and loss(Period comparison) ………………………………8
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1.Qualitative Information on Quarterly Financial Results
(1) Qualitative Information on Consolidated Operating Results
During the first quarter of the fiscal year ending March 31, 2024 (April to June 2023), the Japanese economy has been showing signs of gradual recovery, although weakness is still evident.
In the cement industry, domestic demand for cement fell 6.5% year on year to 8,575 thousand tons, as public-sector demand was weak due to longer construction periods caused by higher costs for various materials and labor, and long-term demand was affected by delayed progress in redevelopment projects. Exports, on the other hand, fell 42.8% year on year.
As a result, total sales volume by domestic manufacturers, including exports, was 10,085 thousand tons, down 14.6% year-on-year.
Under these circumstances, our group started the "FY2023-2025Medium-Term Management Plan" in the current fiscal year. The Group have positioned "improving the profitability of existing businesses," including a recovery in cement business earnings, and "building a foundation for growth" by concentrating resources on the electronic materials business for successful semiconductor production equipment, expanding overseas business, and developing new businesses in the de-carbonization field as company-wide strategies, and will work on the first measures to strengthen our management foundation.
As a result of the above, net sales for the first quarter of the current fiscal year totaled 52,766
million yen, up 7,265 million yen year on year, and ordinary income totaled 1,363 million yen, up 4,159 million yen year on year. Net income attributable to shareholders of the parent company was 5,183 million yen, an increase of 6,291 million yen year on year.
(2) Qualitative Information on Consolidated Financial Position
Total assets at the end of the first quarter of the current fiscal year were 353,348 million yen, an decrease of 3,209 million yen from the end of the previous fiscal year. The main changes were a 3,252 million yen increase in cash and deposit, 4,528 million yen decrease in raw materials and supplies, and 2,786 million yen decrease in investment securities.
Total liabilities amounted to 166,473 million yen, a decrease of 5,492 million yen from the end of the previous fiscal year. The main changes were a decrease of 3,000 million yen in commercial paper and a decrease of 1,261 million yen in notes and accounts payable.
Net assets were 186,874 million yen, an increase of 2,282 million yen from the end of the previous fiscal year. The main components of the change were an increase of 3,127 million yen in retained earnings and a decrease of 845 million yen in valuation difference on available-for-sale securities.
(3) Qualitative Information on Consolidated Financial Forecasts and Other Forward-Looking Statements
The consolidated forecast has been revised from the previous forecast (announced on June 28, 2023). For details, please refer to the "Notice of Revision of Earnings Forecasts for the Six Months Ended September 30, 2024" released today (August 8, 2023).
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Sumitomo Osaka Cement Co. Ltd. published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 08:37:04 UTC.