Financial Results Briefing Materials for the Fiscal Year Ended March 31, 2022
and the Progress of
the "Kanachu Group Medium‐term Management Plan (FY2021 - FY2023)"
April 27, 2022
Kanagawa Chuo Kotsu Co., Ltd.
Summary of Financial Results for the Fiscal Year Ended March 31, 2022
Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.
Status of the General Passenger Automobile Traffic Business
Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved.
Status during the period and as of March 31, 2022
- Throughout the period, a harsh business environment prevailed and passenger demand waxed and waned, as travel and economic activities were restricted due to the issues of the declaration of a state of emergency and the application of focused measures to prevent the spread of COVID‐19 in the Group's business area.
- In the second half of the year, while the so‐called "5th Wave of COVID‐19" ended and the declaration of the state of emergency was lifted at the end of September leading to an upturn in passenger demand, there was a resurgence in COVID‐19 from January and demand significantly declined due to the "6th Wave."
- Since the end of the focused measures to prevent the spread of COVID‐19 in March, passenger demand has once again been on a recovery trend.
Passenger bus business | Passenger demand waxed and waned reflecting the increase and decrease of new cases of COVID‐19. |
Passenger demand declined due to the "6th Wave" but transportation revenue in March recovered to more than | |
80 % of pre‐COVID‐19 levels. | |
We transported Tokyo Olympics/Paralympics personnel during the summer season. | |
Chartered bus business | Due to the recovery in demand by student organizations, the number of vehicles in operation at one time |
recovered to pre‐COVID‐19 levels, but cancellations and postponements increased due to the "6th Wave." Demand | |
recovered to about 90 % of pre‐COVID‐19 levels in March. | |
Passenger taxi business | Some recovery has been seen in daytime demand but with no recovery in night time demand, operations were hit |
by the "6th Wave" and the number of passenger traffic is only about 50 % of pre‐COVID‐19 levels. | |
*Pre‐COVID‐19 levels: FY2019 results (FY2018 results for February and March)
3
Consolidated Statement of Income
Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved.
(Million yen) | |||||||||
Fiscal year ended | Fiscal year ended | Fiscal year ended March 31, | |||||||
Increase/decrease | 2022 | Increase/decrease | |||||||
March 31, 2022 | March 31, 2021 | Financial results forecast | |||||||
(Announced February 2022) | |||||||||
Net sales | 97,777 | 90,915 | 6,862 | 97,300 | 477 | ||||
[7.5%] | [0.5%] | ||||||||
General passenger automobile | 45,016 | 40,379 | 4,636 | 45,910 | (893) | ||||
traffic business | |||||||||
Real estate business | 7,774 | 6,487 | 1,286 | 7,720 | 54 | ||||
Automobile sales business | 26,692 | 26,120 | 571 | 25,680 | 1,012 | ||||
Other businesses | 25,648 | 25,773 | (125) | 25,200 | 448 | ||||
Remeasurements | (7,354) | (7,846) | 491 | (7,210) | (144) | ||||
Operating profit | 1,008 | (5,940) | 6,949 | 1,190 | (181) | ||||
(-) | [( 15.2%)] | ||||||||
General passenger automobile | (3,357) | (9,138) | 5,781 | (2,910) | (447) | ||||
traffic business | |||||||||
Real estate business | 3,058 | 2,713 | 345 | 2,980 | 78 | ||||
Automobile sales business | 881 | 501 | 380 | 780 | 101 | ||||
Other businesses | 590 | 269 | 320 | 480 | 110 | ||||
Remeasurements | (165) | (286) | 121 | (140) | (25) | ||||
Ordinary profit (loss) | 2,586 | (5,354) | 7,941 | 2,620 | (33) | ||||
(-) | [( 1.3%)] | ||||||||
Profit (loss) attributable to owners of | 1,838 | (8,516) | 10,354 | 2,080 | (241) | ||||
parent | (-) | [( 11.6%)] | |||||||
Basic earnings per share | 149.79yen | (693.97) yen | 843.76yen | 169.49yen | (19.70)yen | ||||
Depreciation | 6,608 | 7,070 | (462) | ||||||
Capital expenditures | 6,125 | 7,698 | (1,573) | ||||||
EBITDA (Operating profit + Depreciation) | 7,617 | 1,129 | 6,487 | ||||||
4
Non‐operating Income/Loss and Extraordinary Income/Loss
Copyright 2022 Kanagawa Chuo Kotsu Co.,Ltd. All Rights Reserved. | |||||
(Million yen) | |||||
Fiscal year ended | Fiscal year ended | Increase/decrease | Comments | ||
March 31, 2022 | March 31, 2021 | ||||
Non‐operating income | 1,982 | 1,143 | 839 | Grant income: +807 *1 | |
Non‐operating | 404 | 557 | (152) | Interest expenses: (55) | |
expenses | Amortization of bond issuance costs: (46) | ||||
Grant income: (855) *1 | |||||
Extraordinary income | 1,222 | 1,130 | 92 | Gain on sale of investment securities: +511 | |
+ | |||||
Gain on sale of non‐current assets: 304 | |||||
Impairment losses: (1,274) | |||||
Extraordinary loss due to closing and other: | |||||
Extraordinary loss | 959 | 2,511 | (1,551) | (654) *2 | |
Loss on retirement of non‐current assets: + | |||||
318 |
※1 Grant income including the "Employment adjustment subsidy" during the period covered by the declaration of the state of emergency was reported under "Extraordinary income" in the previous fiscal year in light of its urgent and temporary nature but it was reported under non‐ operating income in the current fiscal year.
※2 Fixed costs including personnel expenses, depreciation, and rent expenses incurred during temporary closings due to the declaration of the state of emergency were reported under extraordinary loss in the previous fiscal year in light of their urgent and temporary nature but they were reported under "Cost of sales" and "Selling, general and administrative expenses" in the current fiscal year.
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Kanagawa Chuo Kotsu Co. Ltd. published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 06:09:07 UTC.