Yukiguni Maitake Co., Ltd.
Financial Results for 1st Quarter of
Fiscal Year Ended March 2023
August 8, 2022
Tokyo Stock Exchange,
Prime Market: 1375
AGENDA
- Summary of Consolidated Financial Results for 1Q of FYE March 2023
- Forecast of Consolidated Financial Results for FYE March 2023
- Medium- Term Business Plan for FYE March 31, 2022 to FYE March 31, 2026
- Reference Materials
(Caution concerning forward-looking statements)
The forward-looking statements, such as forecasts of financial results, included in this document are based on information available to the management as of the date of the document and certain assumptions that the management considers reasonable. The Company does not promise that forecasts will be achieved. Actual results may differ significantly due to a range of factors.
1
1 | Summary of Consolidated Financial Results for 1Q of | |
FYE March 2023 | ||
2
Summary of Financial Results for 1st Quarter of Fiscal Year Ending March 2023
In the three months of the current fiscal year, revenue and operating profit declined from the same period of the previous fiscal year.
External Environment
- COVID-19deregulation led to increased demand for food service and retail industry struggled
- Rising temperatures cause consumers to avoid foods that require cooking
- Increased production and shipments from new plants of other companies in the same industry are in full swing. Maitake mushroom market continues to be in a state of high supply.
- Cost increase factors such as high crude oil prices and yen's depreciation
Our Response
- Strengthened sales to restaurants and ready-to-eat meal service, where consumer demand is rising.
- Sales were promoted by increasing consumer touch points through sales at restaurants and ready-to-eat meal service.
- Conducted cross-MD with major seasoning manufacturers, etc., to stimulate consumer purchasing during non- demanding periods.
- Curbed rising costs by optimizing procurement of materials, fuel, etc., and thoroughly managing manufacturing activities.
Summary
vs Forecast
-
Revenue
JPY 6.3 billion
Belowour Forecast
YoY -JPY 0.2 billion
(-3.3%)
- Core EBITDA JPY 0.6 billion
Exceedingour | |
YoY -JPY 0.3 billion | Forecast |
(-35.3%) |
3
Consolidated Statements of Income (1st Quarter)
In the three months of the current fiscal year, both total income and profits decreased compared to the same period of the
previous fiscal year.
1Q FYE | 1Q FYE | |
March 2022 | ||
March 2023 | ||
Change |
(JPY million) | Actual | |
Revenue | 6,367 | |
Gains Arising from Changes in Fair Value | 1,833 | |
Total Income | 8,201 | |
Material Costs, Labor Costs, etc. | 4,434 | |
Gains Arising from Changes in Fair Value | 2,137 | |
Cost of Sales | 6,572 | |
Gross Profit | 1,628 | |
SG&A Expenses | 1,787 | |
Other Income | 23 | |
Other Expenses | 27 | |
Operating Profit (loss) | (163) | |
vs Revenue | (2.6%) | |
vs Total Income | (2.0%) | |
Profit (loss) before Tax | (258) | |
Profit (loss) Attributable to Owners of Parent | (159) | |
[Reference] | ||
Core Operating Profit *1 | 174 | |
Core EBITDA *1 | 672 | |
Core EBITDA margin*1 | 10.6% | |
Adjusted Profit (loss)*2 | (263) | |
Actual | Amount | % |
6,587 | ( 219) | (3.3%) |
2,350 | ( 517) | (22.0%) |
8,938 | ( 737) | (8.2%) |
4,282 | +152 | +3.6% |
2,622 | (484) | (18.5%) |
6,904 | (331) | (4.8%) |
2,033 | (405) | (19.9%) |
1,826 | (38) | (2.1%) |
11 | +11 | +100.3% |
17 | +9 | +53.9% |
201 | (364) | - |
3.1% | ||
2.3% | ||
97 | (356) | - |
54 | (213) | - |
560 | (386) | (68.9%) |
1,040 | ( 367) | (35.3%) |
15.8% | ||
87 | ( 351) | - |
*1 | Core Operating Profit =Operating Profit - the effect of applying IAS 41 "Agriculture" - Other income and expenses - One-time income and expenses | - | |
Core EBITDA=Core Operating Profit + Depreciation and Amortization | Core EBITDA margin = Core EBITDA / Revenue | ||
*2 | Adjusted Profit = Profit + Management Fees1 + Listing-Related Expenses2 + Refinance-Related Gains/Losses3 + Tax Adjustments |
- Management Fees are compensation based on the management contract between the Company and Bain Capital Private Equity, LP, and SHINMEI HOLDINGS CO., LTD.
- Listing-RelatedExpenses are temporary costs including listing preparation advisory costs, costs related to building an organizational structure for listing, costs related to the introduction of IFRS and timely disclosure system for listing, real estate registration costs associated with a merger,
etc. | 4 |
3 Refinancing-Related Gains/Losses are advisory expenses that were temporarily incurred in connection with refinancing carried out after the Company was closed to the public. These expenses are offset by temporary gains that were incurred due to the decline in contract interest rates |
associated with the refinancing and the increase in interest expense during the remaining contract period that occurs in conjunction with the refinancing.
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Yukiguni Maitake Co. Ltd. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 09:00:05 UTC.