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As of March 31, 2021 As of March 31, 2022
Assets
Current assets
Cash and deposits | 5,852 | 6,911 |
Securities | 2,923 | 3,257 |
Notes and accounts receivable - trade | 12,080 | 12,309 |
Electronically recorded monetary claims - operating | 1,049 | 1,353 |
Merchandise and finished goods | 2,288 | 2,883 |
Work in process | 2,862 | 3,160 |
Raw materials and supplies | 1,285 | 1,606 |
Other | 689 | 1,072 |
Allowance for doubtful accounts | (7) | (7) |
Total current assets | 29,023 | 32,548 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 18,144 | 18,989 |
Accumulated depreciation | (11,105) | (11,673) |
Buildings and structures, net | 7,038 | 7,316 |
Machinery, equipment and vehicles | 36,379 | 37,200 |
Accumulated depreciation | (29,135) | (30,644) |
Machinery, equipment and vehicles, net | 7,244 | 6,555 |
Tools, furniture and fixtures | 7,724 | 7,820 |
Accumulated depreciation | (7,019) | (7,009) |
Tools, furniture and fixtures, net | 704 | 810 |
Land | 7,256 | 7,603 |
Leased assets | 939 | 876 |
Accumulated depreciation | (418) | (434) |
Leased assets, net | 521 | 441 |
Construction in progress | 358 | 354 |
Total property, plant and equipment | 23,123 | 23,081 |
Intangible assets | ||
Leased assets | 11 | 7 |
Other | 320 | 775 |
Total intangible assets | 331 | 782 |
Investments and other assets | ||
Investment securities | 3,130 | 1,787 |
Deferred tax assets | 1,928 | 2,369 |
Other | 171 | 135 |
Allowance for doubtful accounts | (22) | (22) |
Total investments and other assets | 5,207 | 4,268 |
Total non-current assets | 28,662 | 28,133 |
Total assets | 57,686 | 60,681 |
(Millions of yen)
Current liabilities | ||
Notes and accounts payable - trade | 3,926 | 5,252 |
Electronically recorded obligations - operating | 2,170 | 2,199 |
Short-term borrowings | 3,410 | 3,641 |
Lease liabilities | 117 | 102 |
Income taxes payable | 743 | 747 |
Accrued consumption taxes | 478 | 302 |
Contract liabilities | ± | 0 |
Provision for bonuses | 890 | 909 |
Provision for environmental measures | 0 | 1 |
Notes payable - facilities | 18 | 1 |
Electronically recorded obligations - facilities | 327 | 303 |
Other | 2,604 | 2,987 |
Total current liabilities | 14,688 | 16,451 |
Non-current liabilities | ||
Long-term borrowings | 2,668 | 1,434 |
Lease liabilities | 477 | 400 |
Deferred tax liabilities | 793 | 797 |
Provision for environmental measures | 1 | ± |
Retirement benefit liability | 7,036 | 7,175 |
Asset retirement obligations | 54 | 73 |
Other | 577 | 523 |
Total non-current liabilities | 11,609 | 10,404 |
Total liabilities | 26,297 | 26,855 |
Net assets | ||
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Share capital | 1,640 | 1,640 |
Capital surplus | 653 | 653 |
Retained earnings | 26,036 | 29,057 |
Treasury shares | (11) | (11) |
7RWDO VKDUHKROGHUV¶ H | 28,318 | 31,339 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,386 | 672 |
Deferred gains or losses on xxxxxx | 10 | 87 |
Foreign currency translation adjustment | 398 | 484 |
Remeasurements of defined benefit plans | (4) | (37) |
Total accumulated other comprehensive income | 1,790 | 1,207 |
Non-controlling interests | 1,279 | 1,279 |
Total net assets | 31,388 | 33,826 |
Total liabilities and net assets | 57,686 | 60,681 |
As of March 31, 2021 As of March 31, 2022
Liabilities
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(Millions of yen)
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2022
Net sales | 59,958 | 62,785 |
Cost of sales | 43,537 | 49,671 |
Gross profit | 16,420 | 13,113 |
Selling, general and administrative expenses | ||
Selling expenses | 2,901 | 2,611 |
General and administrative expenses | 9,122 | 7,289 |
Total selling, general and administrative expenses | 12,023 | 9,900 |
Operating profit | 4,397 | 3,212 |
Non-operating income | ||
Interest income | 13 | 14 |
Dividend income | 100 | 107 |
Company house rent employee load money income | 65 | 69 |
Share of profit of entities accounted for using equity method | 8 | 24 |
Foreign exchange gains | 48 | 44 |
Gain on sale of scraps | 9 | 36 |
Other | 149 | 66 |
Total non-operating income | 395 | 362 |
Non-operating expenses | ||
Interest expenses | 269 | 169 |
Other | 42 | 11 |
Total non-operating expenses | 312 | 180 |
Ordinary profit | 4,480 | 3,394 |
Extraordinary income | ||
Gain on sale of non-current assets | 26 | 141 |
Gain on bargain purchase | ± | 96 |
Gain on sale of investment securities | 34 | 1,307 |
Total extraordinary income | 60 | 1,544 |
Extraordinary losses | ||
Loss on sale of non-current assets | 14 | ± |
Loss on disposal of non-current assets | 6 | 20 |
Loss on sale of investment securities | ± | 3 |
Total extraordinary losses | 20 | 23 |
Profit before income taxes | 4,520 | 4,915 |
Income taxes - current | 1,210 | 1,304 |
Income taxes - deferred | (158) | (110) |
Total income taxes | 1,051 | 1,194 |
Profit | 3,469 | 3,721 |
Loss attributable to non-controlling interests | (145) | (115) |
Profit attributable to owners of parent | 3,614 | 3,837 |
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(Millions of yen)
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2022
Profit | 3,469 | 3,721 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 817 | (716) |
Deferred gains or losses on xxxxxx | 81 | 77 |
Foreign currency translation adjustment | (619) | 196 |
Remeasurements of defined benefit plans, net of tax | 77 | (31) |
Share of other comprehensive income of entities accounted for using equity method | (5) | 7 |
Total other comprehensive income | 351 | (466) |
Comprehensive income | 3,821 | 3,254 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 4,031 | 3,254 |
Comprehensive income attributable to non-controlling interests
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Share capital | Capital surplus | Retained earnings | Treasury shares | Total VKDUHK equity | |
Balance at beginning of period | 1,640 | 653 | 22,847 | (11) | 25,130 |
Cumulative effects of changes in accounting policies | ± | ||||
Restated balance | 1,640 | 653 | 22,847 | (11) | 25,130 |
Changes during period | |||||
Dividends of surplus | (426) | (426) | |||
Profit attributable to owners of parent | 3,614 | 3,614 | |||
Purchase of treasury shares | (0) | (0) | |||
Net changes in items other WKDQ VKDUHKR | |||||
Total changes during period | ± | ± | 3,188 | (0) | 3,188 |
Balance at end of period | 1,640 | 653 | 26,036 | (11) | 28,318 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||||
Valuation difference on available-for- sale securities | Deferred gains or losses on xxxxxx | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 578 | (71) | 949 | (82) | 1,373 | 1,133 | 27,637 |
Cumulative effects of changes in accounting policies | ± | ||||||
Restated balance | 578 | (71) | 949 | (82) | 1,373 | 1,133 | 27,637 |
Changes during period | |||||||
Dividends of surplus | (426) | ||||||
Profit attributable to owners of parent | 3,614 | ||||||
Purchase of treasury shares | (0) | ||||||
Net changes in items other WKDQ VKDUHKR | 808 | 81 | (551) | 77 | 416 | 145 | 562 |
Total changes during period | 000 | 00 | (000) | 00 | 000 | 000 | 3,750 |
Balance at end of period | 1,386 | 10 | 398 | (4) | 1,790 | 1,279 | 31,388 |
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6KDUHKROGHUV¶ HTXLW\ | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | 7RWDO VKD equity | |
Balance at beginning of period | 1,640 | 653 | 26,036 | (11) | 28,318 |
Cumulative effects of changes in accounting policies | (95) | (95) | |||
Restated balance | 1,640 | 653 | 25,940 | (11) | 28,223 |
Changes during period | |||||
Dividends of surplus | (721) | (721) | |||
Profit attributable to owners of parent | 3,837 | 3,837 | |||
Purchase of treasury shares | (0) | (0) | |||
Net changes in items other WKDQ VKDUHKR | |||||
Total changes during period | ± | ± | 3,116 | (0) | 3,116 |
Balance at end of period | 1,640 | 653 | 29,057 | (11) | 31,339 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||||
Valuation difference on available-for- sale securities | Deferred gains or losses on xxxxxx | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 1,386 | 10 | 398 | (4) | 1,790 | 1,279 | 31,388 |
Cumulative effects of changes in accounting policies | (95) | ||||||
Restated balance | 1,386 | 10 | 398 | (4) | 1,790 | 1,279 | 31,292 |
Changes during period | |||||||
Dividends of surplus | (721) | ||||||
Profit attributable to owners of parent | 3,837 | ||||||
Purchase of treasury shares | (0) | ||||||
Net changes in items other WKDQ VKDUHKR | (713) | 77 | 86 | (32) | (582) | 0 | (582) |
Total changes during period | (713) | 77 | 86 | (32) | (582) | 0 | 2,533 |
Balance at end of period | 672 | 87 | 484 | (37) | 1,207 | 1,279 | 33,826 |
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(Millions of yen)
Fiscal year ended | Fiscal year ended | |
March 31, 2021 | March 31, 2022 | |
Cash flows from operating activities | ||
Profit before income taxes | 4,520 | 4,915 |
Depreciation | 2,736 | 2,747 |
Increase (decrease) in allowance for doubtful accounts | (6) | 0 |
Interest and dividend income | (113) | (121) |
Interest expenses | 269 | 169 |
Share of loss (profit) of entities accounted for using equity method | (8) | (24) |
Loss (gain) on sale of investment securities | (34) | (1,303) |
Loss on retirement of property, plant and equipment | 6 | 9 |
Loss (gain) on sale of property, plant and equipment | (12) | (141) |
Loss on retirement of intangible assets | ± | 10 |
Decrease (increase) in trade receivables | 118 | (602) |
Decrease (increase) in inventories | 207 | (1,191) |
Increase (decrease) in trade payables | 101 | 1,482 |
Increase (decrease) in provision for bonuses | 218 | 17 |
Increase (decrease) in provision for environmental measures | (2) | (0) |
Gain on bargain purchase | ± | (96) |
Increase (decrease) in retirement benefit liability | 65 | 110 |
Increase (decrease) in accrued consumption taxes | 55 | (190) |
Other, net | 368 | (113) |
Subtotal | 8,491 | 5,676 |
Interest and dividends received | 113 | 96 |
Interest paid | (265) | (176) |
Income taxes paid | (961) | (1,339) |
Net cash provided by (used in) operating activities | 7,379 | 4,257 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (2,049) | (2,080) |
Purchase of intangible assets | (198) | (477) |
Proceeds from sale of property, plant and equipment | 33 | 141 |
Purchase of investment securities | (11) | (19) |
Proceeds from sale of investment securities | 47 | 1,583 |
Proceeds from distributions from investment partnerships
89 16
Other, net (7) 28
Net cash provided by (used in) investing activities (2,096) (808)
(Millions of yen)
Fiscal year ended March 31, 2021
Fiscal year ended March 31, 2022
Cash flows from financing activities
Net increase (decrease) in short-term borrowings | (929) | 450 |
Proceeds from long-term borrowings | 2,000 | ± |
Repayments of long-term borrowings | (1,525) | (1,682) |
Repayments of lease liabilities | (138) | (119) |
Dividends paid | (426) | (721) |
Proceeds from share issuance to non-controlling shareholders | 357 | ± |
Dividends paid to non-controlling interests | (2) | (2) |
Other, net | (0) | (0) |
Net cash provided by (used in) financing activities | (663) | (2,075) |
Effect of exchange rate change on cash and cash equivalents | (138) | 19 |
Net increase (decrease) in cash and cash equivalents | 4,480 | 1,393 |
Cash and cash equivalents at beginning of period | 4,295 | 8,776 |
Cash and cash equivalents at end of period | 8,776 | 10,169 |
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