Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results
for the Year Ended March 31, 2023
(Based on Japanese GAAP)
May 15, 2023 | ||||||||||||||||||||||
Company name: | Tohto Suisan Co., Ltd | |||||||||||||||||||||
Stock exchange listing: | Tokyo | |||||||||||||||||||||
Stock code: | 8038 | URL https://www.tohsui.co.jp | ||||||||||||||||||||
Representative: | President and Representative Director | Shoji Kuga | ||||||||||||||||||||
Inquiries: | Operating Officer, Accounting Dept. | Hiroshi Tanaka | TEL 03-6633-1005 | |||||||||||||||||||
Scheduled date of ordinary general meeting of shareholders: | June 21, 2023 | |||||||||||||||||||||
Scheduled date to file Securities Report: | June 21, 2023 | |||||||||||||||||||||
Scheduled date to commence dividend payments: | June 22, 2023 | |||||||||||||||||||||
Preparation of supplementary material on financial results: | No | |||||||||||||||||||||
Holding of financial results meeting: | No | |||||||||||||||||||||
(Amounts less than one million yen are rounded down) | ||||||||||||||||||||||
1. Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023) | ||||||||||||||||||||||
(1) Consolidated operating results | Percentages indicate year-on-year changes | |||||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||||||||
owners of parent | ||||||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||||||
Year ended March 31, 2023 | 96,361 | 18.8 | 2,872 | 55.3 | 3,141 | 55.4 | 2,698 | 68.9 | ||||||||||||||
Year ended March 31, 2022 | 81,113 | - | 1,850 | 28.6 | 2,021 | 16.2 | 1,597 | 4.9 | ||||||||||||||
Earnings per share | Diluted earnings per | Profit attributable to | Ordinary profit/total | Operating profit/net | ||||||||||||||||||
share | owners of | assets | sales | |||||||||||||||||||
parent/equity | ||||||||||||||||||||||
Yen | Yen | % | % | % | ||||||||||||||||||
Year ended March 31, 2023 | 687.70 | - | 12.3 | 9.4 | 3.0 | |||||||||||||||||
Year ended March 31, 2022 | 406.78 | - | 8.3 | 6.6 | 2.3 | |||||||||||||||||
(2) Consolidated financial position | ||||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||||||||
As of March 31, 2023 | 35,240 | 23,348 | 66.3 | 5,951.11 | ||||||||||||||||||
As of March 31, 2022 | 31,381 | 20,347 | 64.8 | 5,186.47 | ||||||||||||||||||
(3) Consolidated cash flows | ||||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash equivalents | |||||||||||||||||||
operating activities | investing activities | financing activities | at end of period | |||||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||||||||||||||
Year ended March 31, 2023 | 256 | (1,946) | (490) | 6,410 | ||||||||||||||||||
Year ended March 31, 2022 | 497 | (85) | (1,204) | 8,392 | ||||||||||||||||||
2. Cash dividends | ||||||||||||||||||||||
Annual dividends per share | Total cash | Dividend payout | Ratio of dividends | |||||||||||||||||||
to net assets | ||||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | dividends (Total) | ratio (Consolidated) | (Consolidated) | |||||||||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |||||||||||||||
Year ended March 31, 2022 | - | - | - | 100.00 | 100.00 | 397 | 24.6 | 2.0 | ||||||||||||||
Year ended March 31, 2023 | - | - | - | 135.00 | 135.00 | 537 | 19.6 | 2.4 | ||||||||||||||
Year ending March 31, 2024 | - | - | - | 135.00 | 135.00 | 35.3 | ||||||||||||||||
(Forecast) | ||||||||||||||||||||||
1
3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||||||
owners of parent | |||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||||
Full year | 95,000 | (1.4) | 2,000 | (30.4) | 2,000 | (36.3) | 1,500 | (44.4) | 382.32 | ||||
4. Notes | |||||||||||||
(1) Changes in significant subsidiaries during the year ended March 31, 2023 | No | ||||||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | |||||||||||||
(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |||||||||||||
Changes in accounting policies due to revisions to accounting standards and other regulations: | Yes | ||||||||||||
Changes in accounting policies due to other reasons: | No | ||||||||||||
Changes in accounting estimates: | No | ||||||||||||
Restatement of prior period financial statements: | No | ||||||||||||
(3) Number of issued shares (common shares) | |||||||||||||
Total number of issued shares at the end of the period (including treasury shares) | |||||||||||||
As of March 31, 2023 | 4,026,000 shares | As of March 31, 2022 | 4,026,000 shares | ||||||||||
Number of treasury shares at the end of the period | |||||||||||||
As of March 31, 2023 | 102,606 shares | As of March 31, 2022 | 102,780 shares | ||||||||||
Average number of shares during the period | |||||||||||||
Year ended March 31, 2023 | 3,923,374 shares | Year ended March 31, 2022 | 3,927,656 shares |
- Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
- Proper use of forecasts of financial results, and other special matters
The forward-looking statements, including the earnings forecasts, shown in this document 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 results may differ substantially due to various factors.
2
Consolidated financial statements
Consolidated balance sheets
(Millions of yen) | ||
As of March 31, 2022 | As of March 31, 2023 | |
Assets | ||
Current assets | ||
Cash and deposits | 9,130 | 7,751 |
Notes receivable - trade | 8 | 32 |
Accounts receivable - trade | 5,801 | 7,399 |
Merchandise and finished goods | 2,998 | 5,084 |
Work in process | 4 | 3 |
Raw materials and supplies | 86 | 103 |
Other | 393 | 181 |
Allowance for doubtful accounts | (382) | (381) |
Total current assets | 18,041 | 20,173 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 10,081 | 10,293 |
Accumulated depreciation | (6,844) | (7,123) |
Buildings and structures, net | 3,236 | 3,169 |
Machinery, equipment and vehicles | 3,526 | 3,709 |
Accumulated depreciation | (2,760) | (2,893) |
Machinery, equipment and vehicles, net | 766 | 816 |
Land | 2,969 | 3,394 |
Construction in progress | 91 | 250 |
Other | 666 | 686 |
Accumulated depreciation | (526) | (587) |
Other, net | 140 | 99 |
Total property, plant and equipment | 7,204 | 7,729 |
Intangible assets | ||
Leasehold interests in land | 184 | 291 |
Fishery right | 3,097 | 3,637 |
Other | 35 | 30 |
Total intangible assets | 3,317 | 3,960 |
Investments and other assets | ||
Investment securities | 2,405 | 2,449 |
Deferred tax assets | 76 | 157 |
Distressed receivables | 177 | 284 |
Other | 320 | 676 |
Allowance for doubtful accounts | (162) | (191) |
Total investments and other assets | 2,817 | 3,376 |
Total non-current assets | 13,339 | 15,066 |
Total assets | 31,381 | 35,240 |
3
(Millions of yen) | ||
As of March 31, 2022 | As of March 31, 2023 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 2,403 | 2,887 |
Short-term borrowings | 2,619 | 2,337 |
Income taxes payable | 280 | 285 |
Provision for bonuses | 65 | 78 |
Provision for shareholder benefit program | 1 | 1 |
Other | 900 | 1,474 |
Total current liabilities | 6,271 | 7,064 |
Non-current liabilities | ||
Long-term borrowings | 2,060 | 2,274 |
Deferred tax liabilities | 436 | 402 |
Long-term guarantee deposits | 935 | 966 |
Deferred tax liabilities for land revaluation | 298 | 298 |
Retirement benefit liability | 785 | 643 |
Provision for share awards | 33 | 35 |
Provision for share awards for directors | 20 | 38 |
Asset retirement obligations | 122 | 119 |
Other | 67 | 49 |
Total non-current liabilities | 4,761 | 4,827 |
Total liabilities | 11,033 | 11,891 |
Net assets | ||
Shareholders' equity | ||
Share capital | 2,376 | 2,376 |
Capital surplus | 1,085 | 1,085 |
Retained earnings | 16,002 | 18,302 |
Treasury shares | (260) | (260) |
Total shareholders' equity | 19,203 | 21,502 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 612 | 672 |
Deferred gains or losses on hedges | (0) | 1 |
Revaluation reserve for land | 522 | 522 |
Foreign currency translation adjustment | (38) | 589 |
Remeasurements of defined benefit plans | 47 | 59 |
Total accumulated other comprehensive income | 1,144 | 1,845 |
Total net assets | 20,347 | 23,348 |
Total liabilities and net assets | 31,381 | 35,240 |
4
Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2022 | March 31, 2023 | |
Net sales | 81,113 | 96,361 |
Cost of sales | 74,654 | 88,812 |
Gross profit | 6,459 | 7,549 |
Selling, general and administrative expenses | 4,608 | 4,676 |
Operating profit | 1,850 | 2,872 |
Non-operating income | ||
Interest income | 21 | 52 |
Dividend income | 69 | 127 |
Gain on sale of non-current assets | 50 | 76 |
Foreign exchange gains | - | 25 |
Rental income | 19 | 21 |
Subsidy income | 42 | 8 |
Other | 43 | 44 |
Total non-operating income | 247 | 356 |
Non-operating expenses | ||
Interest expenses | 22 | 19 |
Provision of allowance for doubtful accounts | - | 31 |
Loss on retirement of non-current assets | 30 | 23 |
Foreign exchange losses | 16 | - |
Other | 6 | 13 |
Total non-operating expenses | 75 | 87 |
Ordinary profit | 2,021 | 3,141 |
Extraordinary income | ||
Gain on sale of non-current assets | - | 2 |
National subsidies | 41 | 51 |
Gain on sale of investment securities | 7 | 0 |
Total extraordinary income | 48 | 54 |
Extraordinary losses | ||
Loss on sale of non-current assets | 49 | - |
Impairment losses | - | 24 |
Loss on tax purpose reduction entry of non-current assets | 41 | 51 |
Loss on sale of investment securities | - | 0 |
Total extraordinary losses | 91 | 76 |
Profit before income taxes | 1,979 | 3,119 |
Income taxes - current | 414 | 584 |
Income taxes - deferred | (32) | (162) |
Total income taxes | 381 | 421 |
Profit | 1,597 | 2,698 |
Profit attributable to owners of parent | 1,597 | 2,698 |
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Tohto Suisan Co. Ltd. published this content on 19 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 June 2023 02:26:06 UTC.