December 6, 2022
Financial Results for the Third Quarter of the Year 2023
(Nine months ended on October 31, 2022)
Company: | FUJI ELECTRIC INDUSTRY CO., LTD. | Stock: | Tokyo Stock Exchange |
Code Number: | 6654 | URL: | https://www.fujidk.co.jp/ |
Coordinator: | Noriko Shimomura | Head Office: | Kyoto, JAPAN |
Director and Executive Officer | Telephone: | (075) 221-7978 |
Date of the board meeting for this period: December 6, 2022
1. Third quarter financial results for the nine months ended on October 31(February 1,2022 through October 31,2022)
(1) Operating Results | (Unit: Millions | of Yen) | |||||
Net sales | Operating income | Ordinary income | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
3rd Q.FY 2023 | 2,798 | (1.0) | 268 | 60.7 | 291 | 45.5 | |
3rd Q.FY 2022 | 2,825 | 1.1 | 166 | (38.4) | 200 | (28.4) | |
Net income | Net income per share | Net income per share | |||||
-basic | -diluted | ||||||
Millions of yen | % | Yen | Yen | ||||
3rd Q.FY 2023 | 204 | 46.1 | 36.23 | 36.18 | |||
3rd Q.FY 2022 | 139 | (29.1) | 24.37 | 24.31 | |||
Note: Percentages for net sales, operating income etc. show increase (decrease) from previous year's third
quarter.
(2) Financial Condition
Total assets | Net assets | Equity ratio | Net assets per | |
share | ||||
Millions of yen | Millions of yen | % | Yen | |
3rd Q.FY 2023 | 10,913 | 10,097 | 92.4 | 1,818.64 |
FY 2022 | 11,004 | 10,286 | 93.4 | 1,789.50 |
Note: Equity capital | 3rd Q.FY 2023 | 10,089 million yen | |||||||||
FY 2022 | 10,277 million yen | ||||||||||
2.Dividends | |||||||||||
Dividend per share | |||||||||||
First quarter | Second quarter | Third quarter | Year-end | Annual | |||||||
Yen | Yen | Yen | Yen | Yen | |||||||
FY 2022 | - | 16.00 | - | 16.00 | 32.00 | ||||||
FY 2023 | - | 16.00 | |||||||||
FY 2023 (forecast) | - | 16.00 | 32.00 |
Note : Revision of dividends forecast for this period:No
3.Forecast of operating results for Fiscal Year 2023(February 1,2022 through January 31,2023)
Net sales | Operating income | Ordinary income | ||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | |
FY 2023 | 3,900 | 4.8 | 291 | 27.1 | 313 | 14.3 |
Net income | Net income per share | |||||
Millions of yen | % | Yen | ||||
FY 2023 | 217 | 13.9 | 38.81 |
Note 1: Percentages for net sales, operating income etc. for the FY 2023 show increase (decrease) from the previous year.
2: Revision of operating results forecast for this period:No
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4.Others | ||||||
(1) | Application of special accounting policy for quarterly financial reporting :No | |||||
(2) | Changes in the accounting policy | :Yes | ||||
(3) | Changes except (2) | :No | ||||
(4) | About number of shares | |||||
Number of shares issued | : | 3rd Q.FY 2023 | 6,669,000 | FY 2022 | 6,669,000 | |
Treasury stock at end of each period : | 3rd Q.FY 2023 | 1,121,430 | FY 2022 | 925,730 | ||
Average number of shares | : | 3rd Q.FY 2023 | 5,635,152 | 3rd Q.FY 2022 | 5,734,553 |
- Note with respect to "Forecast of operating results for Fiscal Year 2023"
Forecasts announced by the company referred to above be prepared based on management's assumptions with information available at this time and therefore involve known and unknown risks and uncertainties.
Please note such risks and uncertainties may cause the actual results to be materially different from the forecasts (earnings forecast, dividend forecast, and other forecasts).
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Qualitative information / Financial affairs
1.Description on business performance
(1) General situation
During the first nine months of the fiscal year ending January 31, 2023, Japan's economy was showing signs of recovery in consumer spending and capital investment.
Under these circumstances, We focused our sales activity on the domestic market of electric power, public facilities, general industries, electric railway and overseas market of Asia and the Middle East. As a result of this performance, although the sales of Auxiliary switch and Connector terminal block increased, the sales of Equipments for photovoltaic generation and Products for railway vehicles decreased.
The cumulative sales amount in the first nine months of the fiscal year was 2,798 million yen (decreased by 1.0% compared with the previous year).
Regarding the cumulative profit, the inventory was built up with increase of orders received, manufacturing costs decreased, the operating income was 268 million yen (increased by 60.7% compared with the previous year), the ordinary income was 291 million yen (increased by 45.5% compared with the previous year), and the net income was 204 million yen (increased by 46.1% compared with the previous year).
-
Products sales Control switches
Although the sales of Switches for railway vehicles decreased, the sales of Auxiliary switch increased. The sales amount was 760 million yen (increased by 1.4% compared with the previous year).
Connecting devices
Connector terminal block and Test terminal block were selling well. The sales amount was 1,218 million yen (increased by 9.7% compared with the previous year).
Pilot lamps and Indicators
Although the sales of Indicators increased, the sales of Indicator for railway vehicles and Multi-window Indicator decreased.
The sales amount was 350 million yen (decreased by 4.5% compared with the previous year). Electronic devices
The sales of Digital alarm and Indicator module were sluggish. However, the sales of I/O terminal and Telephone relay increased.
The sales amount was 436 million yen (increased by 5.8% compared with the previous year). Third party sales
Although the sales of parts increased, the sales of Equipments for photovoltaic generation decreased. The sales amount was 32 million yen (decreased by 81.2% compared with the previous year).
Others
The sales amount except for Electric control devices was 0 million yen.
2. Description on business performance forecast
As for the prospects of our business performances of January 2023, there have been no changes in the prospects announced by the brief note on August 29, 2022.
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3.Non-consolidated quarterly balance sheets
Thousands of Yen | ||
As of January 31, | As of October 31, | |
2022 | 2022 | |
Amount | Amount | |
(Assets) | ||
Ⅰ Current assets | ||
1.Cash and deposits | 4,552,192 | 4,455,800 |
2.Notes and accounts receivable-trade | 1,197,161 | 1,117,586 |
3.Electronically recorded monetary claims | 311,988 | 306,312 |
4.Finished goods | 163,762 | 234,878 |
5.Work in process | 397,250 | 459,237 |
6.Raw materials | 498,818 | 561,708 |
7.Others | 39,880 | 38,928 |
Total current assets | 7,161,055 | 7,174,452 |
Ⅱ Noncurrent assets | ||
(1) Property, plant and equipment | ||
1.Buildings, net | 1,615,507 | 1,536,124 |
2.Land | 1,347,627 | 1,347,627 |
3.Others, net | 244,574 | 188,844 |
Total property, plant and equipment | 3,207,709 | 3,072,596 |
(2) Intangible assets | 9,510 | 7,222 |
(3) Investments and other assets | ||
1.Investment securities | 577,579 | 595,291 |
2.Others | 48,336 | 64,199 |
Total investments and other assets | 625,915 | 659,490 |
Total noncurrent assets | 3,843,136 | 3,739,309 |
Total assets | 11,004,191 | 10,913,761 |
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3.Non-consolidated quarterly balance sheets
Thousands of Yen | ||
As of January 31, | As of October 31, | |
2022 | 2022 | |
Amount | Amount | |
(Liabilities) | ||
Ⅰ Current liabilities | ||
1.Accounts payable-trade | 138,762 | 160,434 |
2.Short-term loans payable | 120,000 | 120,000 |
3.Income taxes payable | 54,359 | 63,249 |
4.Provision for bonuses | 58,533 | 99,207 |
5.Provision for product warranties | 114,019 | 102,886 |
6.Others | 117,489 | 137,027 |
Total current liabilities | 603,164 | 682,805 |
Ⅱ Noncurrent liabilities | ||
1.Provision for retirement benefits | 100,732 | 118,186 |
2.Others | 13,553 | 15,061 |
Total noncurrent liabilities | 114,285 | 133,247 |
Total liabilities | 717,449 | 816,053 |
(Net assets) | ||
Ⅰ Shareholders' equity | ||
1.Capital stock | 1,087,250 | 1,087,250 |
2.Capital surplus | 1,712,365 | 1,712,314 |
3.Retained earnings | 8,286,226 | 8,309,744 |
4.Treasury stock | (1,027,968) | (1,255,990) |
Total shareholders' equity | 10,057,873 | 9,853,318 |
Ⅱ Valuation and translation adjustments | ||
Valuation difference on available-for-sale securities | 219,680 | 235,733 |
Total valuation and translation adjustments | 219,680 | 235,733 |
Ⅲ Share option | 9,187 | 8,656 |
Total net assets | 10,286,741 | 10,097,708 |
Total liabilities and net assets | 11,004,191 | 10,913,761 |
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FUJI Electric Industry Co. Ltd. published this content on 06 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2022 06:41:03 UTC.