Consolidated Financial Statements for the Fiscal Year Ended December 31, 2021 [Japanese GAAP]
February 14, 2022
Company name: AUCNET INC.
Stock exchange listing: Tokyo Stock Exchange
Code number: 3964
URL: https://www.aucnet.co.jp/
Representative: Mr. Shinichiro Fujisaki, President & COO
Contact: Mr. Hiroki Taniguchi, Director, Managing Executive Officer & CFO
Phone: +81-3-6440-2552
Scheduled date of general shareholders meeting: March 29, 2022
Scheduled date of commencing dividend payments: March 8, 2022
Scheduled date of filing securities report: March 30, 2022
Preparation of supplementary explanatory materials: Yes
Financial results briefing: Yes (for institutional investors and analysts)
(Amounts of less than one million yen are rounded down.) | ||||||||
1. Consolidated Results for the Fiscal Year Ended December 31, 2021 | ||||||||
(January 1, 2021 - December 31, 2021) | ||||||||
(1) Consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
Year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % |
December 31, 2021 | 36,710 | 52.5 | 5,846 | 57.8 | 6,113 | 67.8 | 3,625 | 91.1 |
December 31, 2020 | 24,078 | 22.4 | 3,705 | 46.7 | 3,643 | 38.5 | 1,896 | 35.1 |
(Note) Comprehensive income: Year ended December 31, 2021: ¥3,803 million [103.4%] Year ended December 31, 2020: ¥1,870 million [15.2%]
Basic earnings | Diluted earnings | Return on | Ratio of | Ratio of | |
ordinary profit | operating profit | ||||
per share | per share | equity | |||
to total assets | to net sales | ||||
Year ended | Yen | Yen | % | % | % |
December 31, 2021 | 130.56 | 129.58 | 17.4 | 17.4 | 15.9 |
December 31, 2020 | 68.56 | 68.01 | 10.1 | 11.6 | 15.4 |
(Reference) Share of profit (loss) of entities accounted for using equity method:
Year ended December 31, 2021: ¥5 million | ||||||||||
Year ended December 31, 2020: ¥13 million | ||||||||||
(2) Consolidated Financial Position | ||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||
Million yen | Million yen | % | Yen | |||||||
As of December 31, 2021 | 36,822 | 22,701 | 60.6 | 802.38 | ||||||
As of December 31, 2020 | 33,280 | 19,637 | 58.1 | 697.22 | ||||||
(Reference) Equity: As of | December 31, 2021: ¥ | 22,319 million | ||||||||
As of December 31, 2020: ¥19,324 million | ||||||||||
(3) Consolidated Cash Flows | ||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | |||||||
equivalents | ||||||||||
operating activities | investing activities | financing activities | ||||||||
at year-end | ||||||||||
Year ended | Million yen | Million yen | Million yen | Million yen | ||||||
December 31, 2021 | 4,249 | 388 | (825) | 19,565 | ||||||
December 31, 2020 | 4,119 | 549 | (2,873) | 15,766 |
2. Cash Dividends
Annual dividends | Total | Ratio of | ||||||||
Payout ratio | dividends to | |||||||||
1st | 2nd | 3rd | Year- | dividends | ||||||
Total | (consolidated) | net assets | ||||||||
quarter- | quarter- | quarter- | end | (annual) | ||||||
end | end | end | (consolidated) | |||||||
Year ended | Yen | Yen | Yen | Yen | Yen | Million yen | % | % | ||
- | 10.00 | - | 11.00 | 21.00 | 584 | 30.6 | 3.1 | |||
December 31, 2020 | ||||||||||
Year ended | - | 19.00 | - | 21.00 | 40.00 | 1,117 | 30.6 | 5.3 | ||
December 31, 2021 | ||||||||||
Year ending | ||||||||||
December 31, 2022 | - | 22.00 | - | 22.00 | 44.00 | 30.3 | ||||
(Forecast) |
3. Forecast of Consolidated Results for the Fiscal Year Ending December 31, 2022 (January 1, 2022 - December 31, 2022)
(% indicates changes from the previous corresponding period.)
Profit | Basic earnings | ||||||||
Net sales | Operating profit | Ordinary profit | attributable to | ||||||
per share | |||||||||
owners of parent | |||||||||
Full year | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen |
38,329 | - | 6,000 | 2.6 | 6,150 | 0.6 | 4,054 | 11.8 | 145.03 |
- As for net sales of consolidated financial results forecast for the fiscal year ending December 31, 2022, the Company will adopt the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and the related standards from the beginning of the first quarter of the consolidated fiscal year ending December 31, 2022. Accordingly, the figures presented for the consolidated fiscal year ending December 31, 2022 are those after the adoption of the said standards, and changes from the previous corresponding period are not stated.
- Notes:
- Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Changes in accounting policies, changes in accounting estimates and retrospective restatement
- Changes in accounting policies due to the revision of accounting standards: None
- Changes in accounting policies other than 1) above: None
- Changes in accounting estimates: None
- Retrospective restatement: None
- Total number of issued and outstanding shares (common shares)
- Total number of issued and outstanding shares at the end of the period (including treasury shares):
December 31, 2021: | 27,957,100 shares |
December 31, 2020: | 27,863,500 shares |
2) Total number of treasury shares at the end of the period: | |
December 31, 2021: | 140,516 shares |
December 31, 2020: | 147,316 shares |
3) Average number of shares during the period: | |
Year ended December 31, 2021: | 27,768,925 shares |
Year ended December 31, 2020: | 27,667,087 shares |
(Reference) Summary of Non-consolidated Results
1. Non-consolidated Results for the Fiscal Year Ended December 31, 2021 (January 1, 2021 - December 31, 2021)
(1) Non-consolidated Operating Results | (% indicates changes from the previous corresponding period.) | |||||||||||
Net sales | Operating profit | Ordinary profit | Net income | |||||||||
Year ended | Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||
December 31, 2021 | 16,073 | 15.5 | 3,359 | 54.2 | 3,361 | 36.0 | 1,933 | 89.7 | ||||
December 31, 2020 | 13,916 | 19.6 | 2,178 | 326.9 | 2,472 | 80.1 | 1,019 | (76.7) | ||||
Basic earnings | Diluted earnings | |||||||||||
per share | per share | |||||||||||
Year ended | Yen | Yen | ||||||||||
December 31, 2021 | 69.62 | 69.10 | ||||||||||
December 31, 2020 | 36.84 | 36.54 | ||||||||||
(2) Non-consolidated Financial Position | ||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||
Million yen | Million yen | % | Yen | |||||||||
As of December 31, 2021 | 26,679 | 15,221 | 57.1 | 547.21 | ||||||||
As of December 31, 2020 | 25,232 | 13,947 | 55.3 | 503.21 |
(Reference) Equity: As of December 31, 2021: ¥15,221 million As of December 31, 2020: ¥13,947 million
- These financial results are outside the scope of audit procedures by certified public accountants or an audit firm.
- Explanation of the proper use of performance forecast and other notes
The earnings forecast and other forward-looking statements herein are based on the information currently available and certain assumptions deemed reasonable by the Company, and the Company does not guarantee their achievement. In addition, actual results may differ significantly from these forecasts due to a wide range of factors. For cautionary notes on assumptions that form the basis of the performance forecast and the use of performance forecast, please see "1. Overview of Business Results, etc. (4) Future Outlook" on page 5 of the attachments.
Table of Contents - Attachments | ||
1. Overview of Business Results, etc. ................................................................................................................ 2 | ||
(1) | Overview of Business Results for the Fiscal Year under Review | .............................................................. 2 |
(2) | Overview of Financial Position for the Fiscal Year under Review | ............................................................ 4 |
(3) | Overview of Cash Flows for the Fiscal Year under Review ....................................................................... | 4 |
(4) | Future Outlook ........................................................................................................................................... | 5 |
2. Basic Policy on Selecting Accounting Standards ........................................................................................... | 5 | |
3. Consolidated Financial Statements and Primary Notes .................................................................................. | 6 | |
(1) | Consolidated Balance Sheets ..................................................................................................................... | 6 |
(2) | Consolidated Statements of Income and Comprehensive Income | ............................................................. 8 |
(3) | Consolidated Statements of Changes in Equity ....................................................................................... | 10 |
(4) | Consolidated Statements of Cash Flows .................................................................................................. | 12 |
(5) | Notes to Consolidated Financial Statements ............................................................................................ | 14 |
(Notes on going concern assumption) ................................................................................................. | 14 | |
(Segment information, etc.) ................................................................................................................. | 14 | |
(Per share information) ........................................................................................................................ | 17 | |
(Significant subsequent events) ........................................................................................................... | 18 |
1
1. Overview of Business Results, etc.
- Overview of Business Results for the Fiscal Year under Review
- Business Results
During the fiscal year ended December 31, 2021 (from January 1, 2021 to December 31, 2021), the Japanese economy showed signs of a gradual recovery with efforts to achieve economic activity while also preventing the spread of novel coronavirus (COVID-19) infections. Severe conditions persisted however, with prolonged limitations on economic activity due to the spread of infections. It will continue to be necessary to keep a close eye on the spread of infections and its impact on the economy both in and outside of Japan, and the outlook remains uncertain.
Under these circumstances, in line with our brand statement, "Shaping the Future of Commerce," the Company has worked to further improve its social and economic value by providing competitive value-added products and services to promote information distribution in addition to its B2B information distribution intermediary businesses.
As a result, for the fiscal year ended December 31, 2021, the Group's net sales were ¥36,710,088 thousand (up 52.5% from the previous fiscal year), operating profit was ¥5,846,440 thousand (up 57.8% from the previous fiscal year), ordinary profit was ¥6,113,012 thousand (up 67.8% from the previous fiscal year), and profit attributable to owners of parent was ¥3,625,527 thousand (up 91.1% from the previous fiscal year).
Performance results by business segment are as follows.
(Automobile Business)
The Automobile Business comprises the Company's mainstay used vehicle auctions (*1), shared inventory market (*2), live-linked auctions (*3), proxy bidding service (*4), used vehicle inspection service (*5), and other services.
In the Japanese automotive sector, which has close connections with our business, total new-vehicle registrations (*6) decreased 3.3% year-on-year to 4.44 million units in the fiscal year ended December 31, 2021. The total number of used-vehicle registrations (*7) fell 2.0% year-on-year to 6.73 million units, and the number of vehicles listed (*8) at auction around Japan declined 2.4% year-on-year to 6.93 million units. The total number of vehicles sold at auction (*8) increased 4.0% year-on-year to 4.74 million units.
Demand for used vehicles continued to rise during the fiscal year ended December 31, 2021 due to prolonged delivery lead times for new vehicles, influenced by a shortage of semiconductors and insufficient supply of new vehicles mainly stemming from reduced production by automakers. From the third quarter onward, the supply shortages of used vehicles became even more obvious. Under these circumstances, the number of vehicles listed at AUCNET-hosted used vehicle auctions declined year-on-year, but the number of vehicles sold in AUCNET-hosted auctions, as well as the number of vehicles bought in our live-linked auctions and proxy bidding service, surpassed the previous year's results.
In the used vehicle inspection service, the number of vehicles inspected in AUCNET-hosted auctions declined due to the market conditions, while the number of vehicles inspected for a used vehicle listing platform continued to progress favorably, thus contributing to segment net sales and income.
As a result, net sales of the Automobile Business (including inter-segment net sales) were ¥12,104,593 thousand (up 3.6% from the previous fiscal year), and operating profit was ¥3,717,069 thousand (up 3.8% from the previous fiscal year).
(*1) The used vehicle auctions are real-time,members-only online auctions run by the Company.
(*2) The shared inventory market is a system that allows Aucnet Group member sellers to share inventory with other members online. The inventory remains at the seller's premises while other members access it via the online system.
(*3) The live-linked auctions use an online live-link system that enables real-time remote access to participate at physical auction sites, through partnerships between AUCNET and the physical auction sites.
(*4) The proxy bidding service is an agency service provided by i-Auc, Inc. to buy, sell, settle payment for
2
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Aucnet Inc. published this content on 04 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2022 06:25:02 UTC.