ZENRIN CO., LTD. Financial Summary for the First Quarter of Fiscal 2023 [Japanese GAAP] [Consolidated]
July 28, 2022 | |||||
Name of listed company | ZENRIN CO., LTD. | Stock exchange listings: Tokyo and Fukuoka | |||
Securities code | 9474 | URL https://www.zenrin.co.jp/ | |||
Representative | [Title] | President and CEO | [Name] Zenshi Takayama | ||
Contact | [Title] | Executive Officer and Head of | [Name] Yumiko Toshima | TEL +81-93-882-9050 | |
Corporate Management Division | |||||
Scheduled date of submission of quarterly securities report: | July 29, 2022 | ||||
Scheduled date of commencement of dividend payments: | － | ||||
Preparation of supplementary explanatory materials on quarterly results: | Yes | ||||
Holding of briefing session on quarterly results: | No |
(Amounts are rounded down to the nearest million yen)
1. Consolidated Results of Operations in the First Quarter of Fiscal 2023
ZENRIN's the first quarter of fiscal 2023 is the period from April 1, 2022 to June 30, 2022.
(1) Consolidated Business Performance [cumulative]
[%figures represent the increase (decrease) compared to the same period of the previous fiscal year)]
Net sales | Operating income | Ordinary income | Profit attributable to | ||||||
owners of parent | |||||||||
million yen | % | million yen | % | million yen | % | million yen | % | ||
The first quarter of fiscal 2023 | 12,254 | 0.1 | (923) | － | (806) | － | (536) | － | |
The first quarter of fiscal 2022 | 12,243 | ー | (413) | － | (346) | － | (298) | － |
[Note] Comprehensive income | The first quarter of fiscal 2023: (608) million yen [ | －%] | ||
The first quarter of fiscal 2022: (290) million yen [ | －%] | |||
Earnings per share | Diluted earnings per | |||
share | ||||
yen | yen | |||
The first quarter of fiscal 2023 | (9.90) | － | ||
The first quarter of fiscal 2022 | (5.45) | － |
[Note] As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. have been applied from the beginning of the first quarter of fiscal 2022, the amounts for the said quarter reflect the application of the said accounting standard, etc., and the increase (decrease) compared to the same period of the previous fiscal year is not stated.
(2) Consolidated Financial Position
Total assets | Net assets | Ratio of equity to total assets | ||||
million yen | million yen | % | ||||
The first quarter of fiscal 2023 | 75,498 | 47,401 | 62.5 | |||
Fiscal 2022 | 79,164 | 48,746 | 61.3 | |||
[Reference] Equity | The first quarter of fiscal 2023: 47,187 million yen | Fiscal 2022: 48,500 million yen |
2. Dividends
Annual dividend | |||||
End of | End of | End of | Year-end | Total | |
the first quarter | the second quarter | the third quarter | |||
yen | yen | yen | yen | yen | |
Fiscal 2022 | － | 12.50 | － | 13.50 | 26.00 |
Fiscal 2023 | － | ||||
Fiscal 2023 [forecast] | 13.50 | － | 13.50 | 27.00 | |
[Note] Revision from most recently announced forecast for dividends: None
3. Forecast for Consolidated Results of Operations in Fiscal 2023
ZENRIN's fiscal 2023 is the period from April 1, 2022 to March 31, 2023.
[% figures for the fiscal year represent the increase (decrease) compared to the previous fiscal year; % figures for the first 2 quarters represent the increase (decrease) compared to the same period of the previous fiscal year]
Net sales | Operating income | Ordinary income | Profit attributable to | Earnings | ||||||
owners of parent | per share | |||||||||
million yen | % | million yen | % | million yen | % | million yen | % | yen | ||
The first 2 quarters | 26,200 | 1.2 | (400) | － | (300) | － | 0 | － | 0.00 | |
Fiscal year | 60,500 | 2.4 | 3,000 | 12.3 | 3,200 | 5.1 | 2,600 | (28.9) | 47.96 | |
[Note] Revision from most recently announced forecast for results of operations: None
ZENRIN Co., Ltd. (9474)
Financial Summary for the First Quarter of Fiscal 2023
1. Qualitative Information on Quarterly Results
(1) Explanation of Business Performance
In the first quarter of fiscal 2023 (from April 1, 2022 to June 30, 2022), the Japanese economy as a whole showed signs of recovery, while the economy still remained in a harsh condition with such factors as the continued global shortage in supply of semiconductors and surging resource prices caused by the Russia-Ukraine situation.
In such an environment, in regard to net sales, sales of data for in-car navigation systems in the automotive-related business decreased while sales of IoT-related solution services, etc. increased.
In terms of costs, expenses for developing map databases following improvement in precision of location data increased, and personnel expenses also increased due partly to the recording of provision for bonuses. In addition, expenses for sales activities also increased amid the trend of economic and social activities returning to normal.
As a result, the ZENRIN Group in the first quarter of fiscal 2023 reported net sales of 12,254 million yen (increased 11 million yen, or up 0.1%, compared to the same period of the previous fiscal year), operating loss of 923 million yen (downturn of 510 million yen compared to the same period of the previous fiscal year), ordinary loss of 806 million yen (downturn of 460 million yen compared to the same period of the previous fiscal year). In addition, loss attributable to owners of parent was 536 million yen (downturn of 237 million yen compared to the same period of the previous fiscal year).
Please note that past net sales of the ZENRIN Group have shown trends of large seasonal fluctuations and sales concentrating in the fourth quarter.
It should be noted that, information by business segment is omitted because the ZENRIN Group's reportable segment is a single segment.
(2) Explanation of Financial Position
Total assets at the end of the first quarter of fiscal 2023 amounted to 75,498 million yen (decreased 3,665 million yen, or down 4.6%, compared to the end of the previous fiscal year). This was mainly attributable to the decrease in notes and accounts receivable - trade, and contract assets due to the effects of seasonal fluctuations.
Liabilities amounted to 28,097 million yen (decreased 2,320 million yen, or down 7.6%, compared to the end of the previous fiscal year). This was mainly attributable to a decrease in accounts payable - trade due to payment and a decrease in income taxes payable due to tax payment, which offset an increase in advances received.
Net assets amounted to 47,401 million yen (decreased 1,345 million yen, or down 2.8%, compared to the end of the previous fiscal year). This was mainly due to the recording of loss attributable to owners of parent and dividends of surplus.
As a result, the ratio of equity to total assets at the end of the first quarter of fiscal 2023 was 62.5% (up 1.2 points compared to the end of the previous fiscal year).
-
Explanation of Forecast for Consolidated Results of Operations and Other Forward- Looking Statements
The forecast for the results of operations for the first six months of fiscal 2023 and the full-year forecast remain unchanged from the forecast announced on April 28, 2022.
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ZENRIN Co., Ltd. (9474)
Financial Summary for the First Quarter of Fiscal 2023
2. Quarterly Consolidated Financial Statements
- Quarterly Consolidated Balance Sheet
[Unit: million yen] | ||
Fiscal 2022 | The first quarter of | |
fiscal 2023 | ||
As of March 31, 2022 | As of June 30, 2022 | |
Assets | ||
Current assets | ||
Cash and deposits | 16,857 | 17,557 |
Notes and accounts receivable - trade, and | 12,593 | 8,184 |
contract assets | ||
Electronically recorded monetary claims - | 106 | 137 |
operating | ||
Securities | 5 | 6 |
Merchandise and finished goods | 962 | 939 |
Work in process | 272 | 594 |
Raw materials and supplies | 109 | 117 |
Other | 1,363 | 1,656 |
Allowance for doubtful accounts | (4) | (3) |
Total current assets | 32,267 | 29,189 |
Non-current assets | ||
Property, plant and equipment | 13,194 | 12,858 |
Intangible assets | ||
Goodwill | 278 | 251 |
Software | 9,958 | 10,766 |
Other | 3,871 | 2,945 |
Total intangible assets | 14,108 | 13,963 |
Investments and other assets | ||
Investment securities | 12,339 | 12,019 |
Other | 7,358 | 7,572 |
Allowance for doubtful accounts | (105) | (105) |
Total investments and other assets | 19,593 | 19,486 |
Total non-current assets | 46,896 | 46,308 |
Total assets | 79,164 | 75,498 |
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ZENRIN Co., Ltd. (9474)
Financial Summary for the First Quarter of Fiscal 2023
[Unit: million yen] | ||
Fiscal 2022 | The first quarter of | |
fiscal 2023 | ||
As of March 31, 2022 | As of June 30, 2022 | |
Liabilities | ||
Current liabilities | ||
Accounts payable - trade | 3,153 | 1,705 |
Short-term loans payable | 2,066 | 1,306 |
Current portion of bonds payable | 8,047 | 8,035 |
Income taxes payable | 1,153 | 452 |
Advances received | 6,662 | 8,004 |
Provision for directors' bonuses | 124 | 13 |
Asset retirement obligations | 10 | － |
Other | 7,118 | 6,855 |
Total current liabilities | 28,337 | 26,373 |
Non-current liabilities | ||
Long-term loans payable | 18 | 18 |
Provision for directors' retirement benefits | 128 | 104 |
Provision for management board benefit trust | 50 | 39 |
Net defined benefit liability | 281 | 276 |
Asset retirement obligations | 67 | 67 |
Other | 1,532 | 1,217 |
Total non-current liabilities | 2,079 | 1,724 |
Total liabilities | 30,417 | 28,097 |
Net assets | ||
Shareholders' equity | ||
Capital stock | 6,557 | 6,557 |
Capital surplus | 12,484 | 12,484 |
Retained earnings | 26,084 | 24,812 |
Treasury shares | (4,062) | (4,062) |
Total shareholders' equity | 41,064 | 39,791 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale | 6,306 | 6,217 |
securities | ||
Foreign currency translation adjustment | 155 | 231 |
Remeasurements of defined benefit plans | 973 | 947 |
Total accumulated other comprehensive | 7,435 | 7,396 |
income | ||
Non-controlling interests | 246 | 213 |
Total net assets | 48,746 | 47,401 |
Total liabilities and net assets | 79,164 | 75,498 |
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ZENRIN Co., Ltd. (9474)
Financial Summary for the First Quarter of Fiscal 2023
(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income
Quarterly Consolidated Statement of Income [cumulative]
[Unit: million yen] | ||||
The first quarter of | The first quarter of | |||
fiscal 2022 | fiscal 2023 | |||
From: | April 1, 2021 | From: | April 1, 2022 | |
To: | June 30, 2021 | To: | June 30, 2022 | |
Net sales | 12,243 | 12,254 | ||
Cost of sales | 7,595 | 7,792 | ||
Gross profit | 4,647 | 4,462 | ||
Selling, general and administrative expenses | ||||
Personnel expenses | 2,881 | 3,144 | ||
Provision for directors' bonuses | 7 | 9 | ||
Retirement benefit expenses | 75 | 65 | ||
Provision of allowance for doubtful accounts | － | 0 | ||
Other | 2,096 | 2,165 | ||
Total selling, general and administrative expenses | 5,060 | 5,385 | ||
Operating loss | (413) | (923) | ||
Non-operating income | ||||
Interest income | 1 | 1 | ||
Dividend income | 39 | 46 | ||
Foreign exchange gains | － | 34 | ||
Other | 62 | 48 | ||
Total non-operating income | 103 | 130 | ||
Non-operating expenses | ||||
Interest expenses | 2 | 1 | ||
Foreign exchange losses | 25 | － | ||
Non-deductible consumption taxes | － | 4 | ||
Other | 8 | 7 | ||
Total non-operating expenses | 36 | 13 | ||
Ordinary loss | (346) | (806) | ||
Extraordinary income | ||||
Gain on sales of investment securities | － | 874 | ||
Other | － | 10 | ||
Total extraordinary income | － | 885 | ||
Extraordinary losses | ||||
Loss on sales and retirement of non-current | 7 | 4 | ||
assets | ||||
Loss on valuation of investment securities | 2 | 391 | ||
Loss on liquidation of subsidiaries | － | 200 | ||
Total extraordinary losses | 9 | 596 | ||
Loss before income taxes | (355) | (517) | ||
Income taxes - current | 122 | 397 | ||
Income taxes - deferred | (141) | (346) | ||
Total income taxes | (19) | 50 | ||
Loss | (336) | (568) | ||
Loss attributable to non-controlling interests | (37) | (32) | ||
Loss attributable to owners of parent | (298) | (536) |
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Zenrin Co. Ltd. published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 07:23:05 UTC.
