TATSUTA ELECTRIC WIRE AND CABLE CO., LTD. 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. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
Financial Results for the Six Months Ended September 30, 2022
[Japanese GAAP] (Consolidated)
October 28, 2022
Company name: Tatsuta Electric Wire & Cable Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Stock Code: 5809
URL: https://www.tatsuta.com
Representative: Hiroya Yamada, President and Representative Director
Contact: Masafumi Imai, Director, Senior Executive Officer, General Manager of Accounting and Finance Department
Phone: +81-6-6721-3011
Scheduled date of filing Quarterly Report: November 11, 2022
Scheduled date of commencing dividend payments: December 1, 2022
Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled (for institutional investors, analysts and journalists)
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2022 (From April 1, 2022 to September 30, 2022)
(1) Consolidated Operating Results (Cumulative) | (% indicates changes from the previous corresponding period.) | |||||||||||
Net sales | Operating income | Ordinary income | Income attributable to | |||||||||
owners of parent | ||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||
Six months ended | 30,409 | 2.7 | 892 | (47.6) | 1,074 | (41.3) | 872 | (34.6) | ||||
September 30, 2022 | ||||||||||||
Six months ended | 29,604 | 8.1 | 1,704 | (15.3) | 1,830 | (9.9) | 1,334 | (8.7) | ||||
September 30, 2021 | ||||||||||||
(Note) Comprehensive income: Six months ended September 30, 2022: 503 million yen [(50.3)%] | ||||||||||||
Six months ended September 30, 2021: 1,012 million yen [(49.6)%] | ||||||||||||
Income per share | Diluted earnings per | |||||||||||
share | ||||||||||||
Yen | Yen | |||||||||||
Six months ended | 14.12 | - | ||||||||||
September 30, 2022 | ||||||||||||
Six months ended | 21.60 | - | ||||||||||
September 30, 2021 | ||||||||||||
(2) Consolidated Financial Position | ||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||
Million yen | Million yen | % | Yen | |||||||||
As of | 58,704 | 48,117 | 82.0 | 778.84 | ||||||||
September 30, 2022 | ||||||||||||
As of | 58,654 | 48,169 | 82.1 | 779.68 | ||||||||
March 31, 2022 | ||||||||||||
(Reference) Equity: As of September 30, 2022: 48,117 million yen As of March 31, 2022: 48,169 million yen
2. Dividends
Annual dividends | |||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | Total | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal year ended | - | 9.00 | - | 9.00 | 18.00 |
March 31, 2022 | |||||
Fiscal year ending | - | 9.00 | |||
March 31, 2023 | |||||
Fiscal year ending | |||||
March 31, 2023 | - | 9.00 | 18.00 | ||
(Forecast) |
(Note) Revisions from the most recently announced dividends forecast: No
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (From April 1, 2022 to March 31, 2023)
(% indicates changes from the previous corresponding period.)
Net sales | Operating income | Ordinary income | Income attributable to | Income | |||||
owners of parent | per share | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
Full year | 64,000 | 6.9 | 2,400 | (16.8) | 2,600 | (16.5) | 2,000 | (14.2) | 32.37 |
(Note) Revisions from the most recently announced financial results forecast: Yes
Notes:
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): No
Newly added: NA | Excluded: NA |
- Application of special accounting treatment in preparation of quarterly consolidated financial statements: No
- Changes in accounting principles, changes in accounting estimates and retrospective restatement
- Changes in accounting principles due to the revision of accounting standards: No
- Changes in accounting principles other than 1) above: No
- Changes in accounting estimates: No
- Retrospective restatement: No
- Total number of issued shares (common stock)
- Total number of issued shares at the end of the period (including treasury shares):
As of September 30, 2022 | 70,156,394 shares | |
As of March 31, 2022 | 70,156,394 shares | |
2) Total number of treasury shares at the end of the period: | ||
As of September 30, 2022 | 8,375,229 shares | |
As of March 31, 2022 | 8,375,147 shares |
3) Average number of shares during the period (cumulative quarterly period):
Six months ended September 30, | 61,781,235 shares |
2022 | |
Six months ended September 30, | 61,781,838 shares |
2021 |
- These quarterly consolidated financial results are outside the scope of quarterly review by a certified public accountant or an audit corporation.
* Overview of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information available to the Company and certain assumptions deemed reasonable as at the date of publication of this document and should not be interpreted as any kind of guarantee or promise by the Company to achieve such forecasts. In addition, actual results may differ significantly from these forecasts due to a wide range of factors.
The supplemental financial information is scheduled to be disclosed on the TDnet on that same day as well as on the Company's website.
Table of Contents of Reference Materials | ||
1. Qualitative Information on Financial Results for the Quarterly Period Under Review....................................... | ||
Overview of business results ................................................................................................................... | ||
(2) | Overview of financial position ................................................................................................................ | 2 |
(3) | Overview of cash flows .......................................................................................................................... | 2 |
(4) | Overview of forward-looking information such as consolidated financial results forecasts........................... | 3 |
2. Quarterly Consolidated Financial Statements................................................................................................. | 4 | |
(1) | Quarterly Consolidated Balance Sheets ................................................................................................... | 4 |
(2) | Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive | |
Income.................................................................................................................................................. | 6 | |
(3) | Quarterly Consolidated Statements of Cash Flows.................................................................................... | 8 |
1. Qualitative Information on Financial Results for the Quarterly Period Under Review
(1) Overview of business results
During the six months ended September 30, 2022, as the Japanese economy saw mitigation of the harsh situation owing to the impact of COVID-19, there were signs of moderate recovery in corporate earnings, capital investment, personal consumption, the employment situation, etc. The world economy is also expected to continue improving moderately as the impact of COVID-19 decreases. However, the outlook remains uncertain due to volatility in the financial and capital markets and rising prices amid ongoing global monetary tightening, resource and raw material prices fluctuating at high levels, the prolonged Russia-Ukraine crisis, and the lingering effects of restraints on economic activity in China.
The average domestic quotation price for copper, the main raw material used for the Company's products, for the six months ended September 30, 2022 was on levels higher than for the same period of the previous fiscal year.
In the meantime, demand for electric wires for infrastructure was on levels lower than for the same period of the previous fiscal year, while in the electric wires for industrial device business, demand from some users continued recovering. Sales of smartphones, the main application of functional films, remained weak in terms of volumes due to a global price increase, and a slowdown of the Chinese economy and the effects of lockdowns, etc. in the country. Demand for materials was affected by sluggish product sales, shortages in supplies of semiconductors and other components and materials, users' inventory adjustment, etc.
In this environment, net sales for the six months ended September 30, 2022 increased to 30,409 million yen (up 2.7% year on year), but income decreased, with operating income of 892 million yen (down 47.6% year on year), ordinary income of 1,074 million yen (down 41.3% year on year), and income attributable to owners of parent of 872 million yen (down 34.6% year on year).
An overview of the Group's business performance by segment is as follows:
[Electric Wire and Cable Business]
Sales volumes of electric wires for infrastructure were lower than for the same period of the previous fiscal year (down 11.9% year on year) as customers continued conservative buying due to higher copper prices and competition intensified, fueled by selling price revisions implemented in response to rising raw material prices. However, owing to higher copper prices as well as a continued recovery in demand from some customers for electric wires for industrial devices, etc., net sales for this segment increased to 21,013 million yen (up 8.7% year on year). Meanwhile, despite efforts to improve margins by selling price revisions, etc., operating income decreased to 20 million yen (down 95.1% year on year) due to lower sales volumes, higher raw material prices, slow progress on selling price revisions, fluctuations in copper prices, etc.
[Electronic Materials Business]
Demand for functional films, the Company's flagship products, decreased (down 12.8% year on year) due to lower sales volumes for smartphones, the major application of functional films, lockdowns in China, shortages in supplies of semiconductors, etc., users' inventory adjustment, etc., and as a result, net sales for this segment were 8,263 million yen (down 11.1% year on year). Operating income decreased to 1,190 million yen (down 27.7% year on year).
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TATSUTA Electric Wire and Cable Co. Ltd. published this content on 18 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2022 02:38:07 UTC.
