ソーダニッカ（8158） – Summary of Financial Results 2022

Consolidated Financial Statements forthe Fiscal Year Ended March 31, 2022[Japanese GAAP]May 10, 2022Company name: SODA NIKKA CO., LTD.Stock exchange listing: Tokyo Stock ExchangeCode number: 8158URL: https://www.sodanikka.co.jp/Representative: Takahiko Nagasu, President and Chief Executive OfficerContact: Ryuji Mezaki, Managing Executive Officer and Finance and Accounting Division DirectorPhone: +81-3-3245-1803Scheduled date of annual general meeting of shareholders: June 22, 2022Scheduled date of commencing dividend payments: June 23, 2022Scheduled date of filing securities report: June 23, 2022Preparation of supplementary explanatory materials: NoFinancial results briefing: Yes (for institutional investors)(Amounts of less than one million yen are rounded down.)1. Consolidated Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)(1) Consolidated Operating ResultsNet sales(% indicates changes from the previous corresponding period.)Profit attributable to owners of parentOrdinary profitOperating profitFiscal year endedMarch 31, 2022March 31, 2021%–(5.2)(Note) Comprehensive income: Year ended March 31, 2022: ¥1,124 million [(61.8)%]% Million yen1,5531,072Million yen1,252781Million yen55,50894,58660.4(24.2)% Million yen1,36780044.8(17.4)%70.8(4.7)Year ended March 31, 2021: ¥2,940 million [–%]Basic earnings per shareDiluted earnings per shareReturn on equityRatio ofordinary profit to total assetsRatio ofoperating profit to net salesYen58.8432.04Fiscal year endedMarch 31, 2022March 31, 2021%Yen2.3–0.8–(Note) The Company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, March 31, 2020), etc. from the beginning of the fiscal year ended March 31, 2022. For this reason, changes in net sales from the previous fiscal year, before the application of said standard, are not shown.%2.51.8%5.33.2(2) Consolidated Financial PositionTotal assetsNet assetsEquity ratioAs of March 31, 2022As of March 31, 2021Million yen60,85461,436Million yen25,22925,997(Reference) Equity: As of March 31, 2022: ¥25,229 millionAs of March 31, 2021: ¥25,997 millionNet assets per shareYen1,112.991,039.55%41.542.3(3) Consolidated Cash FlowsCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesFiscal year endedMarch 31, 2022March 31, 2021Million yen4521,264Million yen594(399)Million yen(4,424)(351)Cash and cash equivalentsat end of periodMillion yen7,35210,6842. Cash DividendsFiscal year endedMarch 31, 2021March 31, 2022Fiscal year endingMarch 31, 2023(Forecast)1st quarter-endYen––Annual dividends3rd quarter-end2nd quarter-endYen7.008.00Yen––Year-endYen7.0016.00TotalYen14.0024.00Total dividends(annual)Million yen349552–10.00–10.0020.00Ratio of dividends to net assets(consolidated)%1.42.2Payout ratio(consolidated)%43.740.837.8(Note) Breakdown of year-end dividends for the fiscal year ended March 31, 2022: Ordinary dividend: ¥8.00Breakdown of year-end dividends for the fiscal year ended March 31, 2023: Ordinary dividend: ¥10.00Special dividend: UndecidedSpecial dividend: ¥8.003. Forecast of Consolidated Results for the Fiscal Year Ending March 31, 2023 (April 1, 2022 – March 31, 2023)Net salesOperating profit(% indicates changes from the previous corresponding period.)Basic earnings per shareOrdinary profitProfitMillion yen% Million yen% Million yen% Million yenSecond quarter(cumulative)Full year28,20058,8006.55.96108.21,43014.27501,72014.410.7%（5.0）1,200 （12.2）490Yen21.6252.94* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): None(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement1) Changes in accounting policies due to the revision of accounting standards: Yes2) Changes in accounting policies other than 1) above: None3) Changes in accounting estimates: None4) Retrospective restatement: None(3) Total number of outstanding shares (common shares)1) Total number of outstanding shares at the end of the period (including treasury shares):March 31, 2022: 23,968,000 sharesMarch 31, 2021: 25,168,000 shares2) Total number of treasury shares at the end of the period:March 31, 2022: 1,299,663 sharesMarch 31, 2021: 159,941 shares3) Average number of shares during the period:Year ended March 31, 2022: 23,238,564 sharesYear ended March 31, 2021: 24,998,193 shares(Reference) Summary of Non-consolidated Results1. Non-consolidated Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)(1) Non-consolidated Operating ResultsNet sales(% indicates changes from the previous corresponding period.)Ordinary profitProfitYear endedMarch 31, 2022March 31, 2021Million yen49,75292,143%–(5.5)Operating profitMillion yen1,211777%55.8(25.9)Million yen1,4991,059%41.5(20.0)Million yen1,207809%49.218.4Basic earnings per shareDiluted earnings per shareYen51.9832.38Year endedMarch 31, 2022March 31, 2021Yen––(Note) The Company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, March 31, 2020), etc. from the beginning of the fiscal year ended March 31, 2022. For this reason, changes in net sales from the previous fiscal year, before the application of said standard, are not shown.(2) Non-consolidated Financial PositionTotal assetsNet assetsEquity ratioAs of March 31, 2022As of March 31, 2021Million yen58,80060,841Million yen24,83125,819(Reference) Equity: As of March 31, 2022: ¥24,831 millionAs of March 31, 2021: ¥25,819 millionNet assets per shareYen1,095.431,032.45%42.242.4* These financial results are outside the scope of audit by certified public accountants or audit corporations.* Explanation of the proper use of performance forecast and other notesThe above forecasts are estimated based on the information currently available, and actual results may differ from these forecasts due to a wide range of factors. For assumptions that form the basis of the performance forecast and cautionary notes, etc. on the use of performance forecast, please see “Overview of Operating Results, etc.; (4) Future Outlook” on page 6 of this Consolidated Financial Statements (attached materials, Japanese only).3. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance SheetsAs of March 31, 2021As of March 31, 2022(Million yen)AssetsCurrent assetsCash and depositsNotes and accounts receivable – tradeNotes and accounts receivable – trade,and contract assetsMerchandise and finished goodsOtherAllowance for doubtful accountsTotal current assetsNon-current assetsProperty, plant and equipmentBuildings and structuresAccumulated depreciationBuildings and structures, netAccumulated depreciationVehicles, netVehiclesLandOtherAccumulated depreciationOther, netTotal property, plant and equipmentIntangible assetsInvestments and other assetsInvestment securitiesDistressed receivablesOtherAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assets10,83332,715–1,168919(82)45,5542,155(1,748)40727(23)41,1351,105(892)2121,75929213,186159643(160)13,82915,88261,4367,482–35,9031,266674(112)45,2132,596(2,125)47070(49)201,3601,317(977)3402,19121012,47112769(14)13,23915,64160,8541LiabilitiesCurrent liabilitiesNotes and accounts payable – tradeShort-term borrowingsIncome taxes payableContract liabilitiesProvision for bonusesProvision for bonuses for directors (and other officers)Provision for loss compensationOtherTotal current liabilitiesNon-current liabilitiesDeferred tax liabilitiesDeferred tax liabilities for land revaluationRetirement benefit liabilityLong-term guarantee depositsOtherTotal non-current liabilitiesTotal liabilitiesNet assets Shareholders’ equityShare capitalCapital surplusRetained earningsTreasury sharesTotal shareholders’ equityAccumulated other comprehensive incomeValuation difference on available-for-sale securitiesDeferred gains or losses on hedgesRevaluation reserve for landForeign currency translation adjustmentRemeasurements of defined benefit plansTotal accumulated other comprehensive incomeTotal net assetsTotal liabilities and net assetsAs of March 31, 2021As of March 31, 2022(Million yen)25,4355,040288–290241671131,8051,7651871,15751593,63435,4393,7623,14813,562(45)20,4285,469613411(54)5,56825,99761,43627,6272,76631423131424–59831,8771,6531871,2344672043,74735,6253,7623,11613,892(930)19,8415,174319869(57)5,38825,22960,8542(2) Consolidated Statements of Income and Comprehensive IncomeConsolidated Statements of IncomeFor the fiscal year endedMarch 31, 2021For the fiscal year endedMarch 31, 2022(Million yen)55,50848,1847,324Net salesCost of salesGross profitSelling, general and administrative expensesFreight and incidental costsProvision of allowance for doubtful accountsSalaries and allowancesProvision for bonusesProvision for bonuses for directors (and other officers)Retirement benefit expensesRent expensesOtherTotal selling, general and administrative expensesOperating profitNon-operating incomeInterest incomeDividend incomeOtherTotal non-operating incomeNon-operating expensesInterest expensesSales discountsCommission for syndicated loansOtherTotal non-operating expensesOrdinary profitExtraordinary incomeGain on sale of investment securitiesGain on bargain purchaseTotal extraordinary incomeExtraordinary lossesImpairment lossesLoss on sale and retirement of non-current assetsLoss on sale of investment securitiesLoss on valuation of investment securitiesProvision of loss reserve for loss compensationTotal extraordinary lossesProfit before income taxesIncome taxes – currentIncome taxes – deferredTotal income taxesProfitProfit attributable to non-controlling interestsProfit attributable to owners of parent394,58688,1366,4491,1192161,937287241084481,5255,6687812290543483711–7561,072189–1892016–9–471,214496(83)413800–8001,30862,167314241174631,6706,0711,25223389743826–90211381,55332190411––132714551,909548(6)5411,367–1,367Consolidated Statements of Comprehensive IncomeProfitOther comprehensive incomeValuation difference on available-for-sale securitiesDeferred gains or losses on hedgesForeign currency translation adjustmentRemeasurements of defined benefit plans, net of Total other comprehensive incomeComprehensive incomeComprehensive income attributable toComprehensive income attributable to owners of taxparentComprehensive income attributable to non-controlling interestsFor the fiscal year endedMarch 31, 2021For the fiscal year endedMarch 31, 2022(Million yen)8002,1784(6)(37)2,1392,9402,940–1,367(294)(2)57(3)(243)1,1241,124–4(3) Consolidated Statements of Changes in EquityFiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)Shareholders’ equityShare capitalCapital surplusRetained earningsTreasury shares(Million yen)Total shareholders’ equity3,7623,14013,098(54)19,947Balance at beginning of periodChanges during periodDividends of surplusProfit attributable to owners of parentDisposal of treasury sharesReversal of revaluation reserve for landNet changes in items other than shareholders’ equityTotal changes during periodBalance at end of periodBalance at beginning of periodChanges during periodDividends of surplusProfit attributable to owners of parentDisposal of treasury sharesReversal of revaluation reserve for landNet changes in items other than shareholders’ equityTotal changes during periodBalance at end of period79(349)80013(349)8001713––3,76273,14846413,5629(45)48120,428Valuationdifferenceon available-for-salesecuritiesAccumulated other comprehensive incomeDeferred gains or losses on hedgesRevaluation reserve for landForeign currency translation adjustmentRemeasurementsof defined benefit plansTotal accumulated other comprehensive incomeTotal net assets3,291114818(16)3,44223,389(349)80017132,1782,1785,469446(13)(13)134(6)(6)11(37)2,1252,125(37)(54)2,1252,6075,56825,9975Fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)Shareholders’ equityShare capitalCapital surplusRetained earningsTreasury shares(Million yen)Total shareholders’ equity3,7623,14813,562(45)20,428Balance at beginning of periodChanges during periodDividends of surplusProfit attributable to owners of parentPurchase of treasury Disposal of treasury sharessharesCancellation of treasury sharesReversal of revaluation reserve for landNet changes in items other than shareholders’ equityTotal changes during periodBalance at end of period(1,546)(1,546)2(35)16644(364)1,367(609)(63)(364)1,36719–(63)––3,762(32)3,11633013,892(884)(930)(587)19,8416Valuationdifference onavailable-for-salesecuritiesAccumulated other comprehensive incomeDeferred gains or losses on hedgesRevaluation reserve for landForeign currency translation adjustmentRemeasurementsof defined benefit plans(Million yen)Total accumulated other comprehensive incomeTotal net assets5,469613411(54)5,56825,997(364)1,367(1,546)19–(63)(294)(294)5,174(2)(2)36363198575769(3)(179)(179)(3)(57)(179)(767)5,38825,229Balance at beginning of periodChanges during periodDividends of surplusProfit attributable to owners of parentPurchase of treasury Disposal of treasury sharessharesCancellation of treasury sharesReversal of revaluation reserve for landNet changes in items other than shareholders’ equityTotal changes during periodBalance at end of period7(4) Consolidated Statements of Cash FlowsCash flows from operating activitiesProfit before income taxesDepreciationImpairment lossesLoss (gain) on sale and retirement of non-current assetsLoss (gain) on sale of investment securitiesLoss (gain) on valuation of investment securitiesIncrease (decrease) in allowance for doubtful Increase (decrease) in retirement benefit liabilityInterest and dividend incomeInterest expensesCommission for syndicated loansDecrease (increase) in trade receivablesDecrease (increase) in inventoriesDecrease (increase) in distressed receivablesIncrease (decrease) in trade payablesGain on bargain purchaseOther, netSubtotalInterest and dividends receivedInterest paidIncome taxes paidNet cash provided by (used in) operating activitiesCash flows from investing activitiesPayments into time depositsProceeds from withdrawal of time depositsPurchase of property, plant and equipmentPurchase of intangible assetsPurchase of investment securitiesProceeds from sale of investment securitiesPurchase of shares of subsidiaries resulting in change in scope of consolidationOther, netNet cash provided by (used in) investing activitiesFor the fiscal year endedMarch 31, 2021For the fiscal year endedMarch 31, 2022(Million yen)1,2141962016(189)920943(293)37–77833(153)(482)–191,462294(38)(454)1,264(155)158(255)(9)(396)252–6(399)1,909212–1(307)27(116)14(341)2690(2,832)(26)1461,774(90)186673342(33)(530)452(123)156(143)(16)(122)809(7)415948Cash flows from financing activitiesProceeds from short-term borrowingsRepayments of short-term borrowingsPurchase of treasury sharesDividends paidCommission for syndicated loans paidOther, netNet cash provided by (used in) financing activitiesEffect of exchange rate change on cash and cash equivalentsNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at beginning of periodCash and cash equivalents at end of periodFor the fiscal year endedMarch 31, 2021For the fiscal year endedMarch 31, 2022(Million yen)–––(349)–(1)(351)(0)51210,17110,68499(2,506)(1,546)(365)(86)(19)(4,424)45(3,332)10,6847,3529