Financial Highlights
Consolidated Financial Statements
Consolidated Balance Sheets(¥ million)
Item | As of March 31, 2023 | As of March 31, 2022 |
---|---|---|
Assets | ||
Current assets | 117,501 | 91,773 |
Cash and deposits | 11,910 | 12,646 |
Notes and accounts receivable | 29,829 | 26,996 |
Merchandise and finished products | 18,958 | 10,244 |
Work in progress | 34,670 | 23,232 |
Raw materials and purchased supplies | 19,200 | 16,173 |
Other current assets | 3,080 | 2,701 |
Allowance for doubtful receivables | ▲ 146 | ▲ 219 |
Fixed assets | 104,741 | 95,654 |
Tangible fixed assets | 96,503 | 88,295 |
Buildings and structures | 15,193 | 14,889 |
Machinery, equipment and vehicles | 36,086 | 32,552 |
Land | 36,430 | 36,404 |
Leased assets | 4,015 | 1,349 |
Construction in progress | 3,942 | 2,298 |
Other tangible fixed assets | 837 | 803 |
Intangible fixed assets | 2,825 | 2,308 |
Software | 2,689 | 2,148 |
Other intangible fixed assets | 136 | 160 |
Investments and other assets | 5,413 | 5,051 |
Investment securities | 4,300 | 4,096 |
Deferred tax assets | 125 | 175 |
Other investments and other assets | 1,003 | 794 |
Allowance for doubtful receivables | ▲ 15 | ▲ 15 |
Deferred assets | 53 | 67 |
Bond issuance cost | 53 | 67 |
Total assets | 222,294 | 187,494 |
(¥ million)
Item | As of March 31, 2023 | As of March 31, 2022 |
---|---|---|
Liabilities | ||
Current liabilities | 81,788 | 75,413 |
Notes and accounts payable | 21,627 | 23,917 |
Notes payable - equipment | 814 | 2,847 |
Short-term debt | 35,055 | 34,367 |
Current portion of long-term debt | 7,215 | 5,152 |
Accrued income taxes | 8,020 | 2,003 |
Accrued consumption taxes | 1,753 | 81 |
Reserve for employees' bonuses | 1,774 | 1,522 |
Reserve for environmental measures | 87 | – |
Provision for loss on business liquidation | – | 1 |
Other current liabilities | 5,443 | 5,521 |
Long-term liabilities | 60,887 | 49,911 |
Bonds payable | 13,000 | 13,000 |
Long-term debt | 30,853 | 21,902 |
Lease liabilities | 3,341 | 953 |
Deferred tax liabilities | 1,998 | 2,594 |
Deferred tax liabilities on land revaluation | 861 | 861 |
Net defined benefit liabilities | 10,472 | 10,478 |
Reserve for environmental measures | 322 | 66 |
Reserve for prevention of metal mine pollution | 5 | 5 |
Provision for loss on business liquidation | 22 | 21 |
Other long-term liabilities | 12 | 31 |
Total liabilities | 142,675 | 125,324 |
Net assets | ||
Equity | 76,145 | 58,985 |
Common stock | 24,301 | 24,301 |
Capital surplus | 9,542 | 9,542 |
Retained earnings | 43,548 | 26,093 |
Treasury stock | ▲ 1,246 | ▲ 950 |
Accumulated other comprehensive income | 3,469 | 3,179 |
Unrealized gain on available-for-sale securities | 1,540 | 1,387 |
Net deferred losses on hedges | 6 | 27 |
Land revaluation reserve | 1,572 | 1,580 |
Foreign currency translation adjustments | 351 | 186 |
Non-controlling interests | 5 | 5 |
Total net assets | 79,619 | 62,169 |
Total liabilities and net assets | 222,294 | 187,494 |
Consolidated Statements of Operations
(¥ million)
Item | Term ended March 31, 2023 | Term ended March 31, 2022 |
---|---|---|
Net sales | 199,324 | 148,925 |
Cost of sales | 157,369 | 123,013 |
Gross profit | 41,955 | 25,912 |
Selling, general and administrative expenses | 12,699 | 11,946 |
Operating profit | 29,256 | 13,966 |
Non-operating income | 416 | 337 |
Interest | 2 | 1 |
Dividends received | 114 | 108 |
Share of profit of entities accounted for using equity method | 76 | 39 |
Rent of fixed assets | 105 | 82 |
Subsidy income | – | 30 |
Other non-operating income | 120 | 76 |
Non-operating expenses | 1,934 | 1,497 |
Interest paid | 623 | 500 |
Loss on sale of trade notes receivable | 60 | 28 |
Exchange losses | 392 | 16 |
Loss on retirement of noncurrent assets | 110 | 172 |
Removal cost of fixed assets | 143 | 155 |
Sales discounts | 281 | 193 |
Environmental expenses | 111 | 222 |
Other non-operating expenses | 214 | 210 |
Ordinary profit | 27,738 | 12,807 |
Extraordinary profits | 93 | 170 |
Gain on sale of fixed assets | 5 | 6 |
Gain on sale of investment securities | 61 | 165 |
Gain on liquidation of subsidiaries and associates | 26 | – |
Extraordinary losses | – | 5,919 |
Loss on valuation of businesses | – | 134 |
Impairment loss | – | 5,786 |
Profit before income taxes | 27,831 | 7,058 |
Income taxes (corporate tax, residential tax and enterprise tax) | 8,652 | 2,169 |
Income tax adjustment | ▲ 524 | ▲ 3,583 |
Profit | 19,703 | 8,471 |
Profit attributable to non-controlling interests | 0 | 0 |
Profit attributable to owners of parent | 19,703 | 8,471 |
Consolidated Statements of Cash Flows
(¥ million)
Item | Term ended March 31, 2023 | Term ended March 31, 2022 |
---|---|---|
Cash flows from operating activities | 3,649 | ▲ 697 |
Cash flows from investing activities | ▲ 13,035 | ▲ 15,656 |
Cash flows from financing activities | 8,530 | 15,049 |
Foreign currency translation adjustment of cash and cash equivalents | 109 | 20 |
Net increase (decrease) in cash and cash equivalents | ▲ 748 | ▲ 1,283 |
Cash and cash equivalents at the beginning of the term | 12,545 | 13,828 |
Balance of cash and cash equivalents at the end of the term | 11,797 | 12,545 |