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Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Summary of Consolidated Financial Results for the Three Months Ended March 31, 2021 (Based on Japanese GAAP)
May 10, 2021 | ||||
Company name: | Nippon Carbon Co., Ltd. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 5302 | URL https://www.carbon.co.jp | ||
Representative: | President and Representative Director | Takafumi Miyashita | ||
Inquiries: | General Manager of Business Control Div. | Hiroshi Fujikawa | TEL 03-6891-3730 | |
Scheduled date to file Quarterly Securities Report: | May 10, 2021 | |||
Scheduled date to commence dividend payments: | - | |||
Preparation of supplementary material on quarterly financial results: | No | |||
Holding of quarterly financial results meeting: | No |
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2021 (from January 1, 2021 to March 31, 2021)
(1) Consolidated operating results (cumulative) | Percentages indicate year-on-year changes | |||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||
Three months ended March 31, 2021 | 6,077 | (2.7) | 415 | (63.0) | 368 | (66.8) | 226 | (53.3) | ||||||||
Three months ended March 31, 2020 | 6,249 | (48.4) | 1,120 | (78.0) | 1,108 | (77.8) | 485 | (85.1) | ||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||
Yen | Yen | |||||||||||||||
Three months ended March 31, 2021 | 20.50 | - | ||||||||||||||
Three months ended March 31, 2020 | 43.88 | - | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
Millions of yen | Millions of yen | % | Yen | |||||||||||||
As of March 31, 2021 | 70,172 | 50,317 | 61.9 | 3,936.19 | ||||||||||||
As of December 31, 2020 | 70,930 | 50,998 | 62.2 | 3,989.30 | ||||||||||||
2. Cash dividends | ||||||||||||||||
Annual dividends per share | ||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | ||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||
Year ended December 31, 2020 | - | 100.00 | - | 100.00 | 200.00 | |||||||||||
Year ending December 31, 2021 | - | |||||||||||||||
Year ending December 31, 2021 (Forecast) | 100.00 | - | 100.00 | 200.00 |
3. Forecast of consolidated financial results for the year ending December 31, 2021 (from January 1, 2021 to December 31, 2021)
Percentages indicate year-on-year changes
Net sales | Operating profit | Ordinary profit | Profit attributable to | Earnings per share | |||||
owners of parent | |||||||||
Six months ending | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
14,000 | 2.1 | 1,100 | (51.1) | 1,200 | (45.4) | 700 | (40.4) | 63.26 | |
June 30, 2021 | |||||||||
Full year | 30,000 | 11.9 | 3,300 | 9.5 | 3,600 | 0.4 | 2,000 | 10.5 | 180.73 |
1
4. Notes
- Changes in significant subsidiaries during the three months ended March 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
- Application of special accounting methods for preparing quarterly consolidated financial statements:
No
No
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements | |
Changes in accounting policies due to revisions to accounting standards and other regulations: | No |
Changes in accounting policies due to other reasons: | No |
Changes in accounting estimates: | No |
Restatement of prior period financial statements: | No |
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2021 | 11,832,504 | shares | As of December 31, 2020 | 11,832,504 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2021 | 788,455 | shares | As of December 31, 2020 | 766,371 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended March 31, 2021 | 11,060,584 | shares | Three months ended March 31, 2020 | 11,062,904 | shares |
2
Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of December 31, 2020 | As of March 31, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 14,600 | 14,835 | |
Notes and accounts receivable - trade | 9,228 | 8,932 | |
Merchandise and finished goods | 9,366 | 9,014 | |
Work in process | 4,524 | 4,742 | |
Raw materials and supplies | 3,469 | 3,196 | |
Income taxes receivable | 1,350 | 1,335 | |
Other | 509 | 184 | |
Allowance for doubtful accounts | (20) | (21) | |
Total current assets | 43,028 | 42,220 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 17,227 | 17,270 | |
Accumulated depreciation and impairment loss | (9,806) | (9,931) | |
Buildings and structures, net | 7,420 | 7,338 | |
Machinery and equipment | 45,516 | 46,633 | |
Accumulated depreciation and impairment loss | (37,778) | (38,135) | |
Machinery and equipment, net | 7,737 | 8,497 | |
Vehicles, tools, furniture and fixtures | 3,293 | 3,316 | |
Accumulated depreciation and impairment loss | (2,810) | (2,852) | |
Vehicles, tools, furniture and fixtures, net | 483 | 464 | |
Land | 3,524 | 3,533 | |
Construction in progress | 968 | 307 | |
Total property, plant and equipment | 20,135 | 20,142 | |
Intangible assets | 198 | 208 | |
Investments and other assets | |||
Investment securities | 5,026 | 4,978 | |
Deferred tax assets | 334 | 341 | |
Other | 2,209 | 2,284 | |
Allowance for doubtful accounts | (2) | (3) | |
Total investments and other assets | 7,567 | 7,601 | |
Total non-current assets | 27,902 | 27,952 | |
Total assets | 70,930 | 70,172 |
3
(Millions of yen) | |||
As of December 31, 2020 | As of March 31, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes and accounts payable - trade | 3,321 | 3,094 | |
Short-term borrowings | 9,425 | 9,420 | |
Accrued expenses | 587 | 556 | |
Income taxes payable | 466 | 278 | |
Provision for bonuses | 146 | 274 | |
Provision for bonuses for directors (and other officers) | 43 | 24 | |
Provision for loss on order received | 13 | - | |
Provision for plant relocation related expense | 159 | 249 | |
Other | 1,418 | 1,602 | |
Total current liabilities | 15,580 | 15,501 | |
Non-current liabilities | |||
Long-term borrowings | 2,562 | 2,510 | |
Deferred tax liabilities | 422 | 489 | |
Retirement benefit liability | 771 | 762 | |
Provision for retirement benefits for directors (and other | 52 | 48 | |
officers) | |||
Provision for share-based remuneration for directors (and | 70 | 71 | |
other officers) | |||
Provision for environmental measures | 28 | 28 | |
Asset retirement obligations | 62 | 62 | |
Other | 380 | 380 | |
Total non-current liabilities | 4,351 | 4,353 | |
Total liabilities | 19,931 | 19,855 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 7,402 | 7,402 | |
Capital surplus | 7,857 | 7,857 | |
Retained earnings | 29,287 | 28,407 | |
Treasury shares | (1,913) | (2,010) | |
Total shareholders' equity | 42,634 | 41,657 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,542 | 1,755 | |
Foreign currency translation adjustment | 53 | 139 | |
Remeasurements of defined benefit plans | (84) | (80) | |
Total accumulated other comprehensive income | 1,511 | 1,813 | |
Non-controlling interests | 6,852 | 6,846 | |
Total net assets | 50,998 | 50,317 | |
Total liabilities and net assets | 70,930 | 70,172 |
4
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Millions of yen) | |||
Three months ended | Three months ended | ||
March 31, 2020 | March 31, 2021 | ||
Net sales | 6,249 | 6,077 | |
Cost of sales | 4,093 | 4,689 | |
Gross profit | 2,156 | 1,387 | |
Selling, general and administrative expenses | 1,035 | 972 | |
Operating profit | 1,120 | 415 | |
Non-operating income | |||
Rental income | 6 | 7 | |
Insurance claim income | 63 | - | |
Other | 41 | 34 | |
Total non-operating income | 111 | 42 | |
Non-operating expenses | |||
Interest expenses | 17 | 18 | |
Loss on retirement of non-current assets | 5 | 0 | |
Depreciation of inactive non-current assets | 36 | 37 | |
Foreign exchange losses | 16 | 0 | |
Share of loss of entities accounted for using equity method | 31 | 24 | |
Other | 16 | 6 | |
Total non-operating expenses | 123 | 89 | |
Ordinary profit | 1,108 | 368 | |
Extraordinary income | |||
Gain on sales of investment securities | - | 179 | |
Total extraordinary income | - | 179 | |
Extraordinary losses | |||
Loss on fire | 247 | - | |
Factory relocation related costs | - | 90 | |
Total extraordinary losses | 247 | 90 | |
Profit before income taxes | 861 | 457 | |
Income taxes - current | 319 | 250 | |
Income taxes - deferred | (17) | (11) | |
Total income taxes | 302 | 239 | |
Profit | 559 | 218 | |
Profit (loss) attributable to non-controlling interests | 74 | (8) | |
Profit attributable to owners of parent | 485 | 226 |
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Nippon Carbon Co. Ltd. published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 00:01:07 UTC.