Annual Report
Financial Highlights
Consolidated Financial Statements
Consolidated Balance Sheets
(¥ million)
Item | As of March 31, 2021 | As of March 31, 2020 |
---|---|---|
Assets | ||
Current assets | 67,739 | 74,587 |
Cash and deposits | 13,935 | 17,491 |
Notes and accounts receivable | 19,592 | 20,404 |
Merchandise and finished products | 8,153 | 9,887 |
Work in progress | 15,771 | 18,298 |
Raw materials and purchased supplies | 9,014 | 7,557 |
Other current assets | 1,559 | 1,201 |
Allowance for doubtful receivables | ▲ 284 | ▲ 252 |
Fixed assets | 93,463 | 83,942 |
Tangible fixed assets | 86,243 | 78,563 |
Buildings and structures | 11,497 | 11,061 |
Machinery, equipment and vehicles | 27,303 | 25,575 |
Land | 38,755 | 38,670 |
Construction in progress | 6,661 | 1,340 |
Other tangible fixed assets | 2,027 | 1,917 |
Intangible fixed assets | 1,632 | 1,123 |
Software | 1,431 | 808 |
Other intangible fixed assets | 202 | 316 |
Investments and other assets | 5,588 | 4,256 |
Investment securities | 4,449 | 3,481 |
Deferred tax assets | 159 | 149 |
Other investments and other assets | 1,003 | 650 |
Allowance for doubtful receivables | ▲ 23 | ▲ 25 |
Deferred assets | 28 | 39 |
Bond issuance cost | 28 | 39 |
Total assets | 161,230 | 158,568 |
(¥ million)
Item | As of March 31, 2021 | As of March 31, 2020 |
---|---|---|
Liabilities | ||
Current liabilities | 63,188 | 64,029 |
Notes and accounts payable | 16,450 | 16,853 |
Short-term debt | 28,287 | 32,607 |
Notes payable - equipment | 5,882 | 1,000 |
Current portion of bonds | 77 | 154 |
Current portion of long-term debt | 5,039 | 6,037 |
Accrued income taxes | 424 | 508 |
Accrued consumption taxes | 111 | 999 |
Reserve for employees' bonuses | 1,349 | 1,346 |
Provision for directors' bonuses | – | 3 |
Provision for loss on business liquidation | 27 | 27 |
Other current liabilities | 5,542 | 4,496 |
Long-term liabilities | 42,915 | 43,409 |
Bonds payable | 5,000 | 5,077 |
Long-term debt | 19,101 | 20,000 |
Deferred tax liabilities | 6,137 | 5,590 |
Deferred tax liabilities on land revaluation | 918 | 918 |
Net defined benefit liabilities | 10,528 | 10,316 |
Reserve for environmental measures | 113 | 267 |
Reserve for prevention of metal mine pollution | 5 | 5 |
Other long-term liabilities | 1,113 | 1,236 |
Total liabilities | 106,103 | 107,437 |
Net assets | ||
Equity | 51,678 | 48,582 |
Common stock | 24,301 | 24,301 |
Capital surplus | 9,542 | 9,542 |
Retained earnings | 18,541 | 15,474 |
Treasury stock | ▲ 707 | ▲ 736 |
Accumulated other comprehensive income | 3,445 | 2,544 |
Unrealized gain on available-for-sale securities | 1,562 | 688 |
Net deferred losses on hedges | 1 | ▲ 1 |
Land revaluation reserve | 1,720 | 1,720 |
Foreign currency translation adjustments | 161 | 137 |
Non-controlling interests | 5 | 5 |
Total net assets | 55,127 | 51,131 |
Total liabilities and net assets | 161,230 | 158,568 |
Consolidated Statements of Operations
(¥ million)
Item | Term ended March 31, 2021 | Term ended March 31, 2020 |
---|---|---|
Net sales | 112,482 | 136,373 |
Cost of sales | 95,428 | 116,839 |
Gross profit | 17,054 | 19,534 |
Selling, general and administrative expenses | 10,909 | 11,696 |
Operating profit | 6,145 | 7,838 |
Non-operating income | 327 | 294 |
Interest | 1 | 2 |
Dividends received | 84 | 115 |
Share of profit of entities accounted for using equity method | 5 | 19 |
Rent of fixed assets | 86 | 89 |
Subsidy income | 74 | 1 |
Other non-operating income | 77 | 70 |
Non-operating expenses | 1,481 | 1,790 |
Interest paid | 511 | 578 |
Exchange losses | 37 | 29 |
Loss on sale of trade notes receivable | 33 | 62 |
Loss on retirement of noncurrent assets | 356 | 217 |
Removal cost of fixed assets | 209 | 60 |
Sales discounts | 150 | 180 |
Environmental expenses | 68 | 232 |
Other non-operating expenses | 118 | 431 |
Ordinary profit | 4,990 | 6,342 |
Extraordinary profits | 5 | 8 |
Gain on sale of fixed assets | 5 | 8 |
Extraordinary losses | 255 | 206 |
Loss on valuation of investment securities | 255 | 62 |
Impairment loss | – | 57 |
Losses due to disaster | – | 87 |
Profit before income taxes | 4,740 | 6,144 |
Income taxes (corporate tax, residential tax and enterprise tax) | 669 | 725 |
Income tax adjustment | 307 | 94 |
Profit | 3,764 | 5,325 |
Profit attributable to non-controlling interests | 0 | 0 |
Profit attributable to owners of parent | 3,764 | 5,325 |
Consolidated Statements of Cash Flows
(¥ million)
Item | Term ended March 31, 2021 | Term ended March 31, 2020 |
---|---|---|
Cash flows from operating activities | 11,182 | 7,979 |
Cash flows from investing activities | ▲ 6,776 | ▲ 5,511 |
Cash flows from financing activities | ▲ 7,995 | 8,692 |
Foreign currency translation adjustment of cash and cash equivalents | 19 | ▲ 19 |
Net increase (decrease) in cash and cash equivalents | ▲ 3,570 | 11,141 |
Cash and cash equivalents at the beginning of the term | 17,398 | 6,257 |
Balance of cash and cash equivalents at the end of the term | 13,828 | 17,398 |
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