Consolidated Financial Results
for the Fiscal Year ended February 29, 2024
(Japanese GAAP)
April 12, 2024
Company Name: Wakita & Co., LTD.
Code Number: 8125
(URL: https://www.wakita.co.jp/)
Stock Exchange Listing: Tokyo Stock Exchange Prime Market
Representative: Teiji Wakita, President and Representative Director
Contact: Atsuhiko Nariyama, Executive Officer, General Manager of General Affairs Division
Phone: 06-6449-1901
Scheduled date of Ordinary General Shareholders' Meeting: May 23, 2024
Scheduled date to commence dividend payment: May 24, 2024
Scheduled date to submit the Securities Report: May 27, 2024
Supplementary information for financial results: Available
Organization of financial results briefing: Available (for institutional investors)
(Figures are rounded down to the nearest million yen)
1. Consolidated Financial Results for Fiscal 2024 (From March 1, 2023 to February 29, 2024)
(1) Consolidated Results of Operations | (Percentage figures indicate changes from the previous year) | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Fiscal 2024 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % |
88,654 | 12.4 | 5,541 | (3.9) | 5,712 | (2.9) | 3,158 | (19.0) | |
Fiscal 2023 | 78,870 | 5.2 | 5,765 | 4.7 | 5,880 | 3.9 | 3,901 | 9.2 |
(Note) Comprehensive income: Fiscal 2024: ¥4,255 million [7.3%] | |||||||
Fiscal 2023: ¥3,965 million [1.5%] | |||||||
Profit per share | Fully diluted profit | Rate of return on | Ordinary profit to | Operating profit to | |||
per share | equity | total assets | net sales | ||||
Yen | Yen | % | % | % | |||
Fiscal 2024 | 63.45 | - | 3.2 | 4.0 | 6.3 | ||
Fiscal 2023 | 76.44 | - | 4.0 | 4.2 | 7.3 |
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal 2024: ¥ - million Fiscal 2023: ¥ - million
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | Net assets per share | ||
Millions of yen | Millions of yen | % | Yen | ||
Fiscal 2024 | 143,944 | 100,847 | 69.4 | 2,023.45 | |
Fiscal 2023 | 138,652 | 99,574 | 71.2 | 1,968.96 | |
(Reference) Equity: | Fiscal 2024: ¥99,880 million | ||||
Fiscal 2023: ¥98,709 million |
(3) Consolidated Cash Flows
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |
equivalents at the end of | ||||
operating activities | investing activities | financing activities | ||
the period | ||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
Fiscal 2024 | 12,785 | (6,773) | (10,468) | 18,938 |
Fiscal 2023 | 4,168 | (5,555) | (9,214) | 23,142 |
1
2. Dividends
Cash dividends per share | |||||
End of 1Q | End of 2Q | End of 3Q | Year-end | Total | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal 2023 | - | 0.00 | - | 38.00 | 38.00 |
Fiscal 2024 | - | 0.00 | - | 62.00 | 62.00 |
Fiscal 2025 (Forecast) | - | 0.00 | - | 70.00 | 70.00 |
Total dividends
paid (total)
Millions of yen
1,909
3,066
Payout ratio | Dividends to | |
net assets | ||
(consolidated) | ||
(consolidated) | ||
% | % | |
49.7 | 2.0 | |
97.7 | 3.1 | |
100.2 |
3. Forecast of Consolidated Financial Results for Fiscal 2025 (From March 1, 2024 to February 28, 2025)
(Percentage figures indicate changes from the previous year)
Net sales | Operating profit | Ordinary profit | ||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | |
Full year | 94,000 | 6.0 | 5,800 | 4.7 | 5,950 | 4.2 |
Profit attributable to owners of | Profit per share | ||
parent | |||
Millions of yen | % | Yen | |
3,450 | 9.2 | 69.89 |
* Notes
-
Significant changes of subsidiaries during the period under review (affecting specific subsidiaries due to changes in scope of consolidation): None
Companies added to the scope: None
Companies removed from the scope: None - Changes in accounting policies, changes in accounting estimates and restatements
- Changes in accounting policies due to the revision of accounting standards, etc.: Applicable
- Any changes in accounting policies other than 1) above: Not applicable
- Changes in accounting estimates: Not applicable
- Restatements: Not applicable
- Number of shares issued (common shares)
- Number of shares issued at the end of period (including treasury shares):
Fiscal 2024: 52,021,297 shares
Fiscal 2023: 52,021,297 shares
-
Number of treasury shares at the end of period: Fiscal 2024: 2,659,758 shares
Fiscal 2023: 1,888,341 shares - Average number of shares during the period: Fiscal 2024: 49,782,729 shares
Fiscal 2023: 51,046,848 shares
2
(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for Fiscal 2024 (From March 1, 2023 to February 29, 2024)
(1) Non-consolidated Results of Operations | (Percentage figures indicate changes from the previous year) | ||||||||
Net sales | Operating profit | Ordinary profit | Profit | ||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
Fiscal 2024 | 58,267 | 8.5 | 4,496 | (5.6) | 4,834 | (5.6) | 3,156 | (19.4) | |
Fiscal 2023 | 53,682 | 0.5 | 4,761 | 5.1 | 5,120 | 4.2 | 3,916 | 3.1 | |
Profit per share | Fully diluted profit | ||||||||
per share | |||||||||
Yen | Yen | ||||||||
Fiscal 2024 | 63.40 | - | |||||||
Fiscal 2023 | 76.71 | - | |||||||
(2) Non-consolidated Financial Position | |||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||
Millions of yen | Millions of yen | % | Yen | ||||||
Fiscal 2024 | 130,600 | 98,992 | 75.8 | 2,005.46 | |||||
Fiscal 2023 | 126,074 | 97,914 | 77.7 | 1,953.10 | |||||
(Reference) Equity: Fiscal | 2024: ¥98,992 million | ||||||||
Fiscal 2023: ¥97,914 million |
2. Forecast of Non-consolidated Financial Results for Fiscal 2025 (From March 1, 2024 to February 28, 2025)
(Percentage figures indicate changes from the previous year)
Net sales | Ordinary profit | Profit | Profit per share | ||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Full year | 60,500 | 3.8 | 4,700 | (2.8) | 3,200 | 1.4 | 64.83 |
*These Consolidated Financial Results are not subject to audits by certified public accountants or an auditing firm.
*Explanation for the appropriate use of performance forecasts and other special notes:
The performance forecasts and other descriptions on future events presented in this material are based on information that was available at the time of preparation of this material and based on certain assumptions considered to be reasonable, and not intended to guarantee their achievement. The actual performance, etc. may differ materially from these forecasts due to various factors.
3
Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen) | |||
As of February 28, 2023 | As of February 29, 2024 | ||
Assets | |||
Current assets | |||
Cash and deposits | 20,210 | 18,338 | |
Notes and accounts receivable - trade | 20,182 | 20,265 | |
Lease receivables and investments in leases, net | - | 1,349 | |
Securities | 3,713 | 600 | |
Merchandise | 5,305 | - | |
Merchandise and finished goods | - | 5,965 | |
Supplies | 150 | - | |
Work in process | - | 186 | |
Raw materials and supplies | - | 182 | |
Other | 975 | 1,050 | |
Allowance for doubtful accounts | (69) | (72) | |
Total current assets | 50,467 | 47,866 | |
Non-current assets | |||
Property, plant and equipment | |||
Assets for rent | 43,942 | 45,934 | |
Accumulated depreciation | (31,484) | (33,022) | |
Assets for rent, net | 12,457 | 12,911 | |
Real estate for rent | |||
Buildings and accompanying facilities for rent | 33,355 | 32,445 | |
Accumulated depreciation | (11,262) | (11,930) | |
Buildings and accompanying facilities for rent, net | 22,092 | 20,515 | |
Land for rent | 20,585 | 19,515 | |
Buildings and structures | 13,836 | 16,921 | |
Accumulated depreciation | (7,231) | (8,037) | |
Buildings and structures, net | 6,604 | 8,883 | |
Land | 11,079 | 11,564 | |
Leased assets | 125 | 97 | |
Accumulated depreciation | (86) | (59) | |
Leased assets, net | 38 | 37 | |
Other | 4,915 | 5,190 | |
Accumulated depreciation | (2,057) | (2,511) | |
Other, net | 2,858 | 2,679 | |
Total property, plant and equipment | 75,716 | 76,108 | |
Intangible assets | |||
Goodwill | 6,070 | 6,959 | |
Customer-related intangible assets | - | 4,192 | |
Other | 636 | 820 | |
Total intangible assets | 6,706 | 11,973 | |
4
(Millions of yen) | ||
As of February 28, 2023 | As of February 29, 2024 | |
Investments and other assets | ||
Investment securities | 2,991 | 5,019 |
Retirement benefit asset | 787 | 1,014 |
Deferred tax assets | 223 | 180 |
Other | 2,260 | 2,371 |
Allowance for doubtful accounts | (503) | (588) |
Total investments and other assets | 5,761 | 7,996 |
Total non-current assets | 88,184 | 96,078 |
Total assets | 138,652 | 143,944 |
5
(Millions of yen)
As of February 28, 2023 As of February 29, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for product warranties
Provision for shareholder benefit program
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for share based compensation expenses for directors
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Long-term accounts payable - facilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities Deferred gains or losses on hedges
Revaluation reserve for land
Remeasurements of defined benefit plans
10,626 | 10,192 |
920 | 490 |
122 | 169 |
20 | 29 |
1,201 | 1,183 |
405 | 481 |
- | 9 |
- | 350 |
7,552 | 8,612 |
20,848 | 21,519 |
543 | 424 |
22 | 78 |
814 | 2,426 |
435 | 435 |
106 | 93 |
21 | 51 |
283 | 361 |
11,969 | 13,709 |
4,032 | 3,996 |
18,229 | 21,578 |
39,078 | 43,097 |
13,821 | 13,821 |
16,627 | 16,627 |
71,092 | 72,383 |
(2,154) | (3,268) |
99,386 | 99,563 |
1,086 | 2,041 |
185 | 176 |
(2,144) | (2,144) |
195 | 243 |
Total accumulated other comprehensive income | (676) | 317 |
Non-controlling interests | 864 | 966 |
Total net assets | 99,574 | 100,847 |
Total liabilities and net assets | 138,652 | 143,944 |
6
(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Millions of yen) | |||
Fiscal 2023 | Fiscal 2024 | ||
(From March 1, 2022 | (From March 1, 2023 | ||
to February 28, 2023) | to February 29, 2024) | ||
Net sales | 78,870 | 88,654 | |
Cost of sales | 57,374 | 63,791 | |
Gross profit | 21,495 | 24,863 | |
Selling, general and administrative expenses | 15,730 | 19,321 | |
Operating profit | 5,765 | 5,541 | |
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Gain on investments in investment partnerships Other
Total non-operating income
Non-operating expenses
Interest expenses
Compensation for damage
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets Impairment losses
Other
5 | 1 | |||
136 | 132 | |||
38 | 40 | |||
53 | 54 | |||
31 | 30 | |||
81 | 119 | |||
347 | 379 | |||
144 | 190 | |||
61 | - | |||
26 | 17 | |||
231 | 208 | |||
5,880 | 5,712 | |||
29 | 14 | |||
410 | - | |||
440 | 14 | |||
8 | 160 | |||
25 | - | |||
1 | 1 |
Total extraordinary losses | 35 | 162 | |
Profit before income taxes | 6,285 | 5,565 | |
Income taxes - current | 2,407 | 2,368 | |
Income taxes - deferred | (145) | (66) | |
Total income taxes | 2,262 | 2,301 | |
Profit | 4,023 | 3,263 | |
Profit attributable to non-controlling interests | 121 | 104 | |
Profit attributable to owners of parent | 3,901 | 3,158 | |
7
Consolidated Statements of Comprehensive Income
(Millions of yen) | ||||||
Fiscal 2023 | Fiscal 2024 | |||||
(From March 1, 2022 | (From March 1, 2023 | |||||
to February 28, 2023) | to February 29, 2024) | |||||
Profit | 4,023 | 3,263 | ||||
Other comprehensive income | ||||||
Valuation difference on available-for-sale securities | (202) | 955 | ||||
Deferred gains or losses on hedges | 113 | (11) | ||||
Remeasurements of defined benefit plans, net of tax | 30 | 48 | ||||
Total other comprehensive income | (57) | 991 | ||||
Comprehensive income | 3,965 | 4,255 | ||||
Comprehensive income attributable to | ||||||
Comprehensive income attributable to owners of parent | 3,821 | 4,152 | ||||
Comprehensive income attributable to non-controlling | 144 | 102 | ||||
interests | ||||||
8
(3) Consolidated Statements of Changes in Net Assets
Fiscal 2023 (From March 1, 2022 to February 28, 2023)
Shareholders' equity | ||||
Share capital | Capital surplus | Retained earnings | ||
Balance at beginning of | 13,821 | 16,627 | 68,675 | |
period | ||||
Cumulative effects of | ||||
changes in accounting | 231 | |||
policies | ||||
Restated balance | 13,821 | 16,627 | 68,906 | |
Changes during period | ||||
Dividends of surplus | (1,716) | |||
Profit attributable to | 3,901 | |||
owners of parent | ||||
Purchase of treasury | ||||
shares | ||||
Disposal of treasury | (0) | |||
shares | ||||
Net increase (decrease) | ||||
in surplus by change of | ||||
consolidated scope | ||||
Net changes in items | ||||
other than shareholders' | ||||
equity | ||||
Total changes during | ― | (0) | 2,185 | |
period | ||||
Balance at end of period | 13,821 | 16,627 | 71,092 | |
Treasury shares
(154)
(154)
(2,000)
0
(2,000)
(2,154)
(Millions of yen)
Total shareholders'
equity
98,969
231
99,201
(1,716)
3,901
(2,000)
0
―
185
99,386
Accumulated other comprehensive income | |||||||
Valuation | Total | Non-controlling | Total net assets | ||||
Remeasurements | accumulated | ||||||
difference on | Deferred gains or | Revaluation | interests | ||||
of defined | other | ||||||
available-for-sale | losses on hedges | reserve for land | |||||
benefit plans | comprehensive | ||||||
securities | |||||||
income | |||||||
Balance at beginning of | 1,288 | 94 | (2,144) | 164 | (596) | 720 | 99,093 |
period | |||||||
Cumulative effects of | |||||||
changes in accounting | 0 | 231 | |||||
policies | |||||||
Restated balance | 1,288 | 94 | (2,144) | 164 | (596) | 720 | 99,324 |
Changes during period | |||||||
Dividends of surplus | (1,716) | ||||||
Profit attributable to | 3,901 | ||||||
owners of parent | |||||||
Purchase of treasury | (2,000) | ||||||
shares | |||||||
Disposal of treasury | 0 | ||||||
shares | |||||||
Net increase (decrease) | |||||||
in surplus by change of | ― | ||||||
consolidated scope | |||||||
Net changes in items | |||||||
other than shareholders' | (202) | 91 | ― | 30 | (80) | 144 | 64 |
equity | |||||||
Total changes during | (202) | 91 | ― | 30 | (80) | 144 | 249 |
period | |||||||
Balance at end of period | 1,086 | 185 | (2,144) | 195 | (676) | 864 | 99,574 |
9
Fiscal 2024 (From March 1, 2023 to February 29, 2024)
Shareholders' equity | ||||
Share capital | Capital surplus | Retained earnings | ||
Balance at beginning of | 13,821 | 16,627 | 71,092 | |
period | ||||
Cumulative effects of | ||||
changes in accounting | ||||
policies | ||||
Restated balance | 13,821 | 16,627 | 71,092 | |
Changes during period | ||||
Dividends of surplus | (1,909) | |||
Profit attributable to | 3,158 | |||
owners of parent | ||||
Purchase of treasury | ||||
shares | ||||
Disposal of treasury | ||||
shares | ||||
Net increase (decrease) | ||||
in surplus by change of | 41 | |||
consolidated scope | ||||
Net changes in items | ||||
other than shareholders' | ||||
equity | ||||
Total changes during | ― | ― | 1,291 | |
period | ||||
Balance at end of period | 13,821 | 16,627 | 72,383 | |
Treasury shares
(2,154)
(2,154)
(1,143)
29
(1,114)
(3,268)
(Millions of yen)
Total shareholders'
equity
99,386
―
99,386
(1,909)
3,158
(1,143)
29
41
176
99,563
Accumulated other comprehensive income | |||||||
Valuation | Total | Non-controlling | Total net assets | ||||
Deferred gains or | Revaluation | Remeasurements | accumulated | ||||
difference on | interests | ||||||
of defined | other | ||||||
available-for-sale | losses on hedges | reserve for land | |||||
benefit plans | comprehensive | ||||||
securities | |||||||
income | |||||||
Balance at beginning of | 1,086 | 185 | (2,144) | 195 | (676) | 864 | 99,574 |
period | |||||||
Cumulative effects of | |||||||
changes in accounting | ― | ||||||
policies | |||||||
Restated balance | 1,086 | 185 | (2,144) | 195 | (676) | 864 | 99,574 |
Changes during period | |||||||
Dividends of surplus | (1,909) | ||||||
Profit attributable to | 3,158 | ||||||
owners of parent | |||||||
Purchase of treasury | (1,143) | ||||||
shares | |||||||
Disposal of treasury | 29 | ||||||
shares | |||||||
Net increase (decrease) | |||||||
in surplus by change of | 41 | ||||||
consolidated scope | |||||||
Net changes in items | |||||||
other than shareholders' | 955 | (9) | ― | 48 | 994 | 102 | 1,096 |
equity | |||||||
Total changes during | 955 | (9) | ― | 48 | 994 | 102 | 1,273 |
period | |||||||
Balance at end of period | 2,041 | 176 | (2,144) | 243 | 317 | 966 | 100,847 |
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Wakita & Co. Ltd. published this content on 12 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 06:38:09 UTC.