Translation
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 June 30, 2021 (Based on Japanese GAAP)
August 6, 2021
Company name: | NITTOC CONSTRUCTION CO., LTD. | |||
Stock exchange listing: | Tokyo | |||
Stock code: | 1929 | URL https://www.nittoc.co.jp | ||
Representative: | President & Representative Director | Yasuo Wada | ||
Manager, | ||||
Inquiries: | Accounting Department, | Masakazu Itabashi | TEL 03-5645-5047 | |
Administration Division | ||||
Scheduled date to file Quarterly Securities Report: | August 6, 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 June 30, 2021 (from April 1, 2021 to June 30, 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 June 30, 2021 | 13,438 | (2.1) | 313 | (54.9) | 337 | (55.6) | 214 | (56.1) | |||
Three months ended June 30, 2020 | 13,725 | 3.0 | 694 | 28.5 | 760 | 41.1 | 487 | 45.9 | |||
Note: Comprehensive income Three months ended June 30, 2021 | ¥193 million | [(65.1)%] | |||||||||
Three months ended June 30, 2020 | ¥556 million | [68.6%] | |||||||||
Earnings per share | Diluted earnings per share | ||||||||||
Yen | Yen | ||||||||||
Three months ended June 30, 2021 | 5.13 | - | |||||||||
Three months ended June 30, 2020 | 11.68 | - |
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations from the beginning of the first quarter of the current fiscal year, and each figure for the first three months of the fiscal year ending March 31, 2022, is the figure after applying the accounting standard and relevant revised ASBJ regulations.
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Net assets per share | ||||
Millions of yen | Millions of yen | % | Yen | ||||
As of June 30, 2021 | 47,668 | 27,927 | 58.2 | 665.37 | |||
As of March 31, 2021 | 51,971 | 28,800 | 55.1 | 686.19 | |||
Reference: Equity | As of June 30, 2021 | ¥27,751 | million | ||||
As of March 31, 2021 | ¥28,619 | million |
Note: The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations from the beginning of the first quarter of the current fiscal year, and each figure for the first three months of the fiscal year ending March 31, 2022, is the figure after applying the accounting standard and relevant revised ASBJ regulations.
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 March 31, 2021 | - | 8.00 | - | 28.00 | 36.00 |
Year ending March 31, 2022 | - | ||||
Year ending March 31, 2022 (Forecast) | 8.00 | - | 21.00 | 29.00 | |
Note: Revision of cash dividend forecast most recently announced: No | |||||
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3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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 | ||
30,000 | (2.5) | 1,150 | (43.8) | 1,150 | (44.7) | 750 | (44.8) | 17.98 | |||
September 30, 2021 | |||||||||||
Full year | 69,400 | 2.1 | 4,460 | (16.8) | 4,450 | (17.9) | 2,930 | (16.3) | 70.25 | ||
Note: Revision of consolidated financial results forecast most recently announced: No | |||||||||||
4. Notes | |||||||||||
(1) Changes in significant subsidiaries during the three months ended June 30, 2021 | No | ||||||||||
(changes in specified subsidiaries resulting in the change in scope of consolidation): | |||||||||||
(2) Application of special accounting methods for preparing quarterly consolidated financial statements: | 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: | Yes | ||||||||||
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 June 30, 2021 | 41,708,367 | shares | As of March 31, 2021 | 43,919,291 | shares | |
Number of treasury shares at the end of the period | ||||||
As of June 30, 2021 | 246 | shares | As of March 31, 2021 | 2,210,924 | shares | |
Average number of shares during the period (cumulative from the beginning of the fiscal year) | ||||||
Three months ended June 30, 2021 | 41,708,193 | shares | Three months ended June 30, 2020 | 41,709,683 | shares |
Note: The Company canceled 2,210,924 treasury shares on May 31, 2021, in accordance with a resolution passed at a meeting of the Board of Directors held on May 7, 2021.
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
- Proper use of forecasts of financial results, and other special matters
Financial results forecasts are based on information available to the Company at the time of release of this document. Actual financial results may differ from the forecast figures due to various factors going forward.
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Quarterly consolidated financial statements
Consolidated balance sheets
(Millions of yen) | |||
As of March 31, 2021 | As of June 30, 2021 | ||
Assets | |||
Current assets | |||
Cash and deposits | 17,722 | 18,537 | |
Notes receivable, accounts receivable from completed | 19,666 | - | |
construction contracts and other | |||
Notes receivable, accounts receivable from completed | - | 14,763 | |
construction contracts, contract assets and other | |||
Electronically recorded monetary claims - operating | 2,921 | 3,124 | |
Merchandise and finished goods | 9 | 18 | |
Real estate for sale | 0 | 0 | |
Costs on construction contracts in progress | 1,359 | 805 | |
Raw materials and supplies | 243 | 241 | |
Other | 360 | 491 | |
Allowance for doubtful accounts | (2) | (1) | |
Total current assets | 42,282 | 37,980 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 1,645 | 1,641 | |
Machinery, vehicles, tools, furniture and fixtures, net | 1,133 | 1,091 | |
Land | 2,638 | 2,578 | |
Leased assets, net | 13 | 10 | |
Construction in progress | 166 | 145 | |
Other, net | 2 | 2 | |
Total property, plant and equipment | 5,598 | 5,468 | |
Intangible assets | 445 | 638 | |
Investments and other assets | |||
Investment securities | 974 | 939 | |
Deferred tax assets | 2,127 | 2,104 | |
Other | 602 | 587 | |
Allowance for doubtful accounts | (59) | (50) | |
Total investments and other assets | 3,644 | 3,581 | |
Total non-current assets | 9,689 | 9,688 | |
Total assets | 51,971 | 47,668 |
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(Millions of yen) | |||
As of March 31, 2021 | As of June 30, 2021 | ||
Liabilities | |||
Current liabilities | |||
Notes payable, accounts payable for construction contracts | 11,339 | 10,200 | |
and other | |||
Short-term borrowings | 278 | 141 | |
Advances received on construction contracts in progress | 2,032 | 1,039 | |
Lease obligations | 3 | 2 | |
Income taxes payable | 1,274 | 148 | |
Provision for warranties for completed construction | 24 | 24 | |
Provision for loss on construction contracts | 286 | 193 | |
Provision for bonuses | 1,501 | 507 | |
Provision for bonuses for directors (and other officers) | 36 | - | |
Other | 2,156 | 3,181 | |
Total current liabilities | 18,931 | 15,438 | |
Non-current liabilities | |||
Lease obligations | 5 | 3 | |
Retirement benefit liability | 4,162 | 4,227 | |
Other | 71 | 71 | |
Total non-current liabilities | 4,239 | 4,302 | |
Total liabilities | 23,171 | 19,740 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 6,052 | 6,052 | |
Capital surplus | 2,022 | 1,753 | |
Retained earnings | 21,419 | 19,778 | |
Treasury shares | (1,057) | (0) | |
Total shareholders' equity | 28,436 | 27,584 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 312 | 287 | |
Foreign currency translation adjustment | (34) | (34) | |
Remeasurements of defined benefit plans | (95) | (86) | |
Total accumulated other comprehensive income | 183 | 166 | |
Non-controlling interests | 180 | 176 | |
Total net assets | 28,800 | 27,927 | |
Total liabilities and net assets | 51,971 | 47,668 |
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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 | ||
June 30, 2020 | June 30, 2021 | ||
Net sales | |||
Net sales of completed construction contracts | 13,607 | 13,380 | |
Sales in other businesses | 117 | 57 | |
Total net sales | 13,725 | 13,438 | |
Cost of sales | |||
Cost of sales of completed construction contracts | 11,206 | 11,250 | |
Cost of sales in other businesses | 90 | 30 | |
Total cost of sales | 11,297 | 11,280 | |
Gross profit | |||
Gross profit on completed construction contracts | 2,400 | 2,130 | |
Gross profit - other business | 27 | 27 | |
Total gross profit | 2,428 | 2,157 | |
Selling, general and administrative expenses | 1,733 | 1,844 | |
Operating profit | 694 | 313 | |
Non-operating income | |||
Interest income | 4 | 2 | |
Dividend income | 14 | 14 | |
license income | 3 | 6 | |
Foreign exchange gains | 46 | 6 | |
Other | 6 | 2 | |
Total non-operating income | 75 | 32 | |
Non-operating expenses | |||
Interest expenses | 2 | 0 | |
Guarantee commission | 7 | 6 | |
Other | 0 | 0 | |
Total non-operating expenses | 9 | 7 | |
Ordinary profit | 760 | 337 | |
Extraordinary income | |||
Gain on sale of non-current assets | - | 0 | |
Total extraordinary income | - | 0 | |
Extraordinary losses | |||
Loss on sale and retirement of non-current assets | - | 1 | |
Total extraordinary losses | - | 1 | |
Profit before income taxes | 760 | 335 | |
Income taxes - current | 314 | 136 | |
Income taxes - deferred | (36) | (11) | |
Total income taxes | 277 | 125 | |
Profit | 482 | 210 | |
Loss attributable to non-controlling interests | (4) | (3) | |
Profit attributable to owners of parent | 487 | 214 |
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Nittoc Construction Co. Ltd. published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 08:13:07 UTC.