FY2022 Consolidated Financial Results | ||||||||
February 8, 2023 | ||||||||
(Amounts are rounded down to the nearest million yen) | ||||||||
1. Consolidated Results for FY2022 (January 1, 2022 through December 31, 2022) | ||||||||
(1) Consolidated financial results | (% of change from previous year) | |||||||
Net sales | Operating income | Ordinary income | Profit attributable to | |||||
owners of parent | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | |
FY2022 | 63.445 | - | 11,038 | - | 11,496 | - | 8,350 | - |
FY2021 | 57,539 | 18.9 | 7,408 | 107.2 | 7,531 | 100.8 | 5,173 | 164.2 |
(Note) Comprehensive income: | FY2022: 9,869 million yen [-%] | / | FY2021: 7,810 million yen [351.5%] | |||||
Net income per share | Net income per share | Ratio of net income to | Ratio of income | Ratio of operating | ||||
-Basic | -Diluted | shareholders' equity | before taxes to total | income to net sales | ||||
assets | ||||||||
Yen | Yen | % | % | % | ||||
FY2022 | 400.03 | - | 14.8 | 16.1 | 17.4 | |||
FY2021 | 248.14 | - | 10.5 | 12.0 | 12.9 | |||
(Reference) Share of profit of entities accounted for using equity method: | FY2022: -million yen / | FY2021: -million yen |
(Note) Since the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc., from the beginning of the 1st quarter of the current consolidated fiscal year, the amounts of FY2022 is based on the foregoing accounting standard. Therefore, the rate of change compared to the actual value for FY2021 before the application of the standard are not stated.
(2) Consolidated financial position
Total assets | Total net assets | Ratio of net assets | Net assets per share | ||
Million yen | Million yen | % | Yen | ||
FY2022 | 75,556 | 60,574 | 80.2 | 2,899.24 | |
FY2021 | 67,065 | 52,536 | 78.3 | 2,519.93 | |
(Reference) Shareholders' equity: | FY2022: 60,574 million yen / FY2021: 52,536 million yen |
(Note) Since the Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc., from the beginning of the 1st quarter of the current consolidated fiscal year, the amounts of FY2022 is based on the foregoing accounting standard.
(3) Consolidated cash flows
From operating activities | From investing activities | From financing activities | Cash and cash equivalents | |
at end of year | ||||
Million yen | Million yen | % | Yen | |
FY2022 | 9,232 | (3,865) | (2,044) | 29,948 |
FY2021 | 8,660 | (3,780) | (1,250) | 25,832 |
2. Cash dividends
Cash dividends per share | Total amount of | Dividends | Ratio of total amount | |||||||
End of | End of | End of | of dividends to | |||||||
cash dividends | Payout ratio | |||||||||
1st | 2nd | 3rd | Year-end | Annual | shareholders' equity | |||||
(annual) | (consolidated) | |||||||||
quarter | quarter | quarter | (consolidated) | |||||||
Yen | Yen | Yen | Yen | Yen | Million Yen | % | % | |||
FY2021 | - | 25.00 | - | 57.00 | 82.00 | 1,730 | 33.0 | 3.5 | ||
FY2022 | - | 30.00 | - | *90.00 | 120.00 | 2,536 | 30.0 | 4.4 | ||
FY2023 | - | 30.00 | - | 90.00 | 120.00 | 30.0 | ||||
(forecast) | ||||||||||
- Year-enddividends for 2022 include commemorative dividends of 5 yen.
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3. Forecast of consolidated results for FY2023 (January 1, 2023 through December 31, 2023)
(% of change from FY2022 or 1st Half FY2022)
Profit attributable | Net income | ||||||||||
Net sales | Operating income | Ordinary income | to owners of | ||||||||
per share | |||||||||||
parent | |||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |||
FY2023 1st Half | 32,200 | 1.6 | 4,800 | (15.4) | 4,800 | (19.4) | 3,490 | (23.6) | 167.04 | ||
FY2023 | 70,000 | 10.3 | 11,500 | 4.2 | 11,500 | 0.0 | 8,370 | 0.2 | 400.61 |
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Consolidated financial statements
(1) Consolidated balance sheets
(Amount: Million yen) | |||
FY2021 | FY2022 | ||
(As of December 31, 2021) | (As of December 31, 2022) | ||
Assets | |||
Current assets | |||
Cash and deposits | 25,797 | 29,948 | |
Notes and accounts receivable - trade | 10,505 | 11,128 | |
Finished goods | 5,610 | 7,531 | |
Work in process | 3,757 | 4,023 | |
Raw materials and supplies | 1,865 | 1,443 | |
Other | 1,094 | 1,360 | |
Allowance for doubtful accounts | (33) | (129) | |
Total current assets | |||
48,597 | 55,305 | ||
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 13,847 | 14,638 | |
Accumulated depreciation | (9,362) | (10,026) | |
Buildings and structures, net | |||
4,484 | 4,611 | ||
Machinery, equipment and vehicles | |||
21,128 | 22,174 | ||
Accumulated depreciation | (16,973) | (17,998) | |
Machinery, equipment and vehicles, net | 4,155 | 4,176 | |
Tools, furniture and fixtures | 22,229 | 20,796 | |
Accumulated depreciation | (20,055) | (18,504) | |
Tools, furniture and fixtures, net | |||
2,174 | 2,291 | ||
Land | |||
1,170 | 1,186 | ||
Construction in progress | 737 | 1,216 | |
Total property, plant and equipment | |||
12,721 | 13,482 | ||
Intangible assets | |||
494 | 542 | ||
Investments and other assets | |||
Investment securities | 4,848 | 5,533 | |
Deferred tax assets | 270 | 426 | |
Other | 159 | 291 | |
Allowance for doubtful accounts | (26) | (26) | |
Total investments and other assets | |||
5,252 | 6,225 | ||
Total non-current assets | |||
18,467 | 20,250 | ||
Total assets | 67,065 | 75,556 |
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(Amount: Million yen) | |||
FY2021 | FY2022 | ||
(As of December 31, 2021) | (As of December 31, 2022) | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 3,439 | 2,233 | |
Short-term borrowings | 1,933 | 1,908 | |
Accrued expenses | 2,812 | 2,825 | |
Income taxes payable | 1,805 | 2,343 | |
Other | 2,459 | 3,376 | |
Total current liabilities | |||
12,450 | 12,685 | ||
Non-current liabilities | |||
Long-term borrowings | 94 | - | |
Deferred tax liabilities | 540 | 567 | |
Provision for share awards | 372 | 368 | |
Retirement benefit liability | 821 | 1,033 | |
Other | 249 | 325 | |
Total non-current liabilities | |||
2,078 | 2,295 | ||
Total liabilities | |||
14,528 | 14,981 | ||
Net assets | |||
Shareholders' equity | |||
Share capital | 6,923 | 6,923 | |
Capital surplus | 7,537 | 7,537 | |
Retained earnings | 41,055 | 47,466 | |
Treasury shares | (7,718) | (7,611) | |
Total shareholders' equity | |||
47,797 | 54,316 | ||
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 1,124 | 1,154 | |
Foreign currency translation adjustment | 3,342 | 5,043 | |
Remeasurements of defined benefit plans | 272 | 59 | |
Total accumulated other comprehensive income | |||
4,739 | 6,258 | ||
Total net assets | 52,536 | 60,574 | |
Total liabilities and net assets | |||
67,065 | 75,556 | ||
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- Consolidated statements of income and Consolidated statements of comprehensive income (Consolidated statements of income)
(Amount: Million yen) | |||
FY2021 | FY2022 | ||
(January 1, 2021 through December 31, 2021) | (January 1, 2022 through December 31, 2022) | ||
Net sales | 57,539 | 63,445 | |
Cost of sales | 34,332 | 35,822 | |
Gross profit | |||
23,207 | 27,623 | ||
Selling, general and administrative expenses | |||
Advertising expenses | 538 | 474 | |
Promotion expenses | 492 | 195 | |
Provision of allowance for doubtful accounts | 8 | 0 | |
Salaries and bonuses | 4,277 | 4,464 | |
Retirement benefit expenses | 121 | 107 | |
Share-based payment expenses | 113 | 103 | |
Technical research expenses | 5,028 | 5,398 | |
Other | 5,217 | 5,841 | |
Total selling, general and administrative expenses | |||
15,798 | 16,584 | ||
Operating profit | |||
7,408 | 11,038 | ||
Non-operating income | |||
Interest income | 26 | 41 | |
Dividend income | 48 | 86 | |
Rental income | 14 | - | |
Foreign exchange gains | - | 215 | |
Subsidy income | 110 | 121 | |
Other | 201 | 327 | |
Total non-operating income | |||
401 | 793 | ||
Non-operating expenses | |||
Interest expenses | 18 | 38 | |
Foreign exchange losses | 92 | - | |
Loss on retirement of non-current assets | 67 | 130 | |
Other | 100 | 165 | |
Total non-operating expenses | |||
278 | 334 | ||
Ordinary profit | |||
7,531 | 11,496 | ||
Extraordinary losses | |||
Impairment losses | 112 | - | |
Total extraordinary losses | |||
112 | - | ||
Profit before income taxes | |||
7,418 | 11,496 | ||
Income taxes - current | |||
2,196 | 3,122 | ||
Income taxes - deferred | 49 | 23 | |
Total income taxes | |||
2,245 | 3,146 | ||
Profit | |||
5,173 | 8,350 | ||
Profit attributable to owners of parent | |||
5,173 | 8,350 | ||
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Tamron Co. Ltd. published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2023 08:23:05 UTC.