Summary of financial results the 1st quarter fiscal FY05 / 2023 [Japanese standards] (consolidated) (HTML)

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Fiscal year ending May 2023First Quarter Financial Results [JGAAP] (Consolidated)

 

 

 

 

September 20, 2022

Listed company name

Tsuruha Holdings Inc.

Listed exchangeeast

Code number

3391

URLhttps://www.tsuruha-hd.com

Representative

(Title)

President and CEO

(family name)Jun Tsuruha

Contact person

(Title)

Executive Officer General Manager of Administration Headquarters

(family name)Makoto Murakami

TEL011-783-2755

Scheduled quarterly report submission date

September 29, 2022

Scheduled payment start date

Whether or not supplementary explanatory materials for quarterly financial results have been created:Yes

 

Whether or not a quarterly Financial results announcement is held:Yes

(For institutional investors and analysts)

 

 

(Rounded down to the nearest million yen)

1. Consolidated financial results for the first quarter of the fiscal year ending May 2023 (May 16, 2022 to August 15, 2022)

(1) Consolidated business results (cumulative)

(% Display is the rate of increase / decrease from the same quarter of the previous year)

 

 

amount of sales

Operating income

Ordinary profit

Attribution to the shareholders of the parent company

Quarterly net income

 

One million yen

One million yen

One million yen

One million yen

First quarter of the fiscal year ending May 2023

243,181

3.2

13,317

3.3

13,357

3.2

7,501

0.5

First quarter of the fiscal year ending May 2022

235,684

4.9

12,889

15.0

12,944

15.6

7,536

17.5

 

(Note) Comprehensive income

First quarter of the fiscal year ending May 2023

11,446

One million yen

22.7%)

 

First quarter of the fiscal year ending May 2022

9,330

One million yen

(△35.9%)

 

 

Per share

Quarterly net income

After adjusting for potential stock

Per share

Quarterly net income

 

Yen

Yen

First quarter of the fiscal year ending May 2023

154.48

154.03

First quarter of the fiscal year ending May 2022

155.27

154.77

 

(2) Consolidated financial position

 

Total assets

Net worth

Capital adequacy ratio

Book value per share

 

One million yen

One million yen

Yen

First quarter of the fiscal year ending May 2023

520,531

290,846

50.8

5,444.06

May 2022

562,363

284,046

45.9

5,314.48

 

(Reference) Equity

First quarter of the fiscal year ending May 2023

264,392

One million yen

 

May 2022

258,035

One million yen

 

2. 2. Dividend status

 

Annual dividend

End of first quarter

End of second quarter

End of third quarter

Term end

total

 

Yen

Yen

Yen

Yen

Yen

May 2022

83.50

83.50

167.00

Fiscal year ending May 2023

 

 

 

 

Fiscal Year Ending May 2023 (Forecast)

 

116.50

116.50

233.00

(Note) Whether or not there is any revision from the recently announced dividend forecast:Nothing

 

3. Consolidated earnings forecast for the fiscal year ending May 2023 (May 16, 2022 to May 15, 2023)

 

(Percentages indicate year-on-year changes for the full year, and year-on-year changes for quarters.)

 

 

amount of sales

Operating income

Ordinary profit

Attribution to parent company shareholders

Net income

Per share

Net income

 

One million yen

One million yen

One million yen

One million yen

Yen

Second quarter (cumulative)

481,700

4.1

21,900

3.6

21,949

3.0

12,600

1.1

259.51

Full year

968,800

5.8

42,700

5.3

42,571

6.3

22,640

5.9

466.29

(Note) Whether or not there is any revision from the latest announced business forecast:Nothing

 

 

* Notes

(1) Changes in significant subsidiaries during the current quarterly consolidated cumulative period (changes in specified subsidiaries due to changes in the scope of consolidation):Nothing

 

(2) Application of accounting treatment specific to the preparation of quarterly consolidated financial statements:Yes

 

(3) Changes in accounting policies, changes in accounting estimates, and restatements of revisions

① Changes in accounting policies due to revisions to accounting standards, etc .:Nothing

(2) Changes in accounting policies other than (1):Nothing

③ Change of accounting estimateNothing

④ Correction redisplayNothing

 

(4) Number of issued shares (common stock)

① Number of issued shares at the end of the period (including treasury stock)

1Q of May 2023

49,452,068

stock

May 2022

49,439,968

stock

② Number of treasury stock at the end of the period

1Q of May 2023

886,721

stock

May 2022

886,655

stock

③ Average number of shares during the period (cumulative quarterly)

1Q of May 2023

48,561,357

stock

1Q of May 2022

48,537,138

stock

 

* Quarterly financial statements are not subject to quarterly reviews by certified accountants or audit corporations.

 

* Explanation of proper use of business forecasts and other special notes

The forecast figures contained in this document are forecasts based on currently available information and contain many uncertainties. Actual results may differ from the above figures due to changes in business conditions. Please refer to page 2 of the attachment for matters related to the above forecasts.

 

○ Contents of attached materials

 

1. Qualitative Information on Quarterly Financial Results ………………………………………

2

(1) Explanation of operating results …………………………………………………………………………………………

2

(2) Explanation of financial position …………………………………………………………………………………………

2

(3) Explanation of future forecast information such as consolidated earnings forecasts ……………………

2

2. Quarterly Consolidated Financial Statements and Major Notes ……………………

3

(1) Quarterly Consolidated Balance Sheets …………………………………………………………………………………

3

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income

5

Quarterly Consolidated Income Statement …………………………………………………………

 

1st quarter consolidated cumulative period …………………………

5

Quarterly Consolidated Statement of Comprehensive Income …………………………………………

 

1st quarter consolidated cumulative period …………………………

6

(3) Notes to Quarterly Consolidated Financial Statements

7

(Note regarding going concern assumption) ……………………

7

(Note when there is a significant change in the amount of shareholders' equity) ………………

7

(Application of special accounting treatment for the preparation of quarterly consolidated financial statements)

7

 

1. Qualitative information on quarterly financial results

(1) Explanation of operating results

In the first quarter of the current consolidated cumulative period (May 16, 2022 to August 15, 2022), the economic situation is that the flow of people is returning amid the resurgence of the new coronavirus infection, but prices are rising. Consumer sentiment remained weak.

In the drugstore industry, the business environment has become more severe due to a reactionary decline in demand from people staying at home and soaring utility bills, while the competition to open new stores continues.

Under these circumstances, the Group will work to improve customer service while listening to customer feedback, introduce meat, fruits and vegetables, and 100-yen shops, and promote the establishment of dispensing pharmacies alongside stay-at-home demand. We have been working to strengthen the

In addition, as a DX strategy, we worked to increase the number of app members and utilize customer data for sales promotions, while working to renovate and expand our private brands into new brands, Kurashi Rhythm and Kurashi Rhythm MEDICAL.

Regarding store development, as a result of restructuring and closing unprofitable stores to strengthen competitiveness, we opened 32 new stores and closed 32 stores from the beginning of the fiscal year. The number of group stores in 2,523 directly managed stores.

 

The store openings and closings of the Group are as follows (unit: store)

 

End of the previous fiscal year

Number of stores

branch store

Subsidiary etc.

closed

Net increase

End of first quarter

Number of stores

home

Dispensing pharmacy

Hokkaido

422

1

8

△7

415

113

East and North

570

6

1

9

△2

568

117

Kanto Koshinetsu

520

7

5

2

522

205

Chubu / Kansai

247

5

4

1

248

139

China

326

6

6

332

112

Shikoku

220

4

4

224

66

Kyushu / Okinawa

217

3

6

△3

214

31

Domestic store total

2,522

32

1

32

1

2,523

783

In addition to the above, we have 17 overseas stores and 6 franchise stores.

 

As a result, in the first quarter of the fiscal year under review, sales were 243,181 million yen (up 3.2% year-on-year), operating income was 13,317 million yen (up 3.3% year-on-year), and ordinary income was 133 million yen. 57 million yen (up 3.2% year-on-year), and profit attributable to owners of parent of 7,501 million yen (down 0.5% year-on-year).

 

(2) Explanation of financial position

Total assets at the end of the first quarter of the current consolidated fiscal year decreased by 41,832 million yen from the end of the previous consolidated fiscal year to 520,531 million yen.

Total liabilities decreased by 48,633 million yen from the end of the previous consolidated fiscal year to 229,684 million yen.

The main reason for the decrease in total assets and total liabilities was the decrease in cash and deposits and accounts payable, etc., due to the fact that the end of the previous consolidated fiscal year was a holiday for financial institutions.

Total net assets increased by 6.8 billion yen from the end of the previous consolidated fiscal year to 290.846 billion yen.

As a result of the above, the equity ratio increased by 4.9 percentage points to 50.8%.

 

(3) Explanation of future forecast information such as consolidated earnings forecasts

There is no change in the full-year earnings forecast announced on June 21, 2022.

 

2. 2. Quarterly consolidated financial statements and main notes

(1) Quarterly consolidated balance sheet

 

 

(Unit: million yen)

 

Previous consolidated fiscal year

(May 15, 2022)

Current first quarter consolidated accounting period

(August 15, 2022)

Assets

 

 

current assets

 

 

Cash and deposits

127,026

80,473

accounts receivable

49,155

41,718

Product

132,314

134,288

Raw materials and supplies

121

120

Short-term loans receivable

1

1

others

19,895

21,216

Total current assets

328,514

277,818

Fixed asset

 

 

Tangible fixed assets

 

 

Buildings and structures (net)

52,948

55,798

Mechanical equipment and carriers (net amount)

0

0

Tools, utensils and equipment (net)

14,702

15,167

land

14,435

14,581

Lease assets (net amount)

7,098

8,076

Construction in progress

2,113

1,855

Total property, plant and equipment

91,299

95,479

Intangible fixed assets

 

 

Goodwill

34,281

33,298

Software

2,494

2,766

Telephone subscription right

104

104

others

1,145

1,488

Total intangible assets

38,025

37,658

Investments and other assets

 

 

Investment securities

26,723

30,857

Long-term loan

9

9

Deferred tax asset

6,647

6,501

Deposit deposit

65,481

66,270

others

5,723

5,996

Allowance for doubtful accounts

62

62

Total investment and other assets

104,523

109,574

Total fixed assets

233,849

242,712

Total assets

562,363

520,531

 

 

 

 

(Unit: million yen)

 

Previous consolidated fiscal year

(May 15, 2022)

Current first quarter consolidated accounting period

(August 15, 2022)

Debt section

 

 

Current Liabilities

 

 

Accounts payable

155,660

111,489

Long-term borrowing scheduled to be repaid within one year

7,200

7,200

Accounts payable

20,347

16,819

Lease debt

551

531

Income taxes payable, etc.

5,278

5,171

Contract liability

10,418

11,792

Bonus reserve

5,996

3,228

Reserve for directors' bonuses

680

161

Point reserve

291

296

others

7,188

8,214

Total current liabilities

213,613

164,906

Fixed liabilities

 

 

Long-term borrowing

39,475

37,675

Lease debt

8,294

9,429

Deferred tax liability

5,204

6,327

Retirement Benefit Revenue

4,119

2,984

Asset retirement obligations

3,847

3,894

others

3,763

4,466

Total fixed liabilities

64,704

64,777

Total debt

278,317

229,684

Of Net Assets

 

 

Shareholders' equity

 

 

Capital

11,322

11,339

Capital surplus

29,375

29,392

an earned surplus

205,714

209,161

Treasury stock

5,312

5,313

Total shareholders' equity

241,098

244,579

Accumulated other comprehensive income

 

 

Valuation difference on other securities

16,988

19,856

Accumulated adjustment for retirement benefits

52

43

Total other comprehensive income

16,936

19,812

Stock acquisition right

2,269

2,383

Non-controlling interests

23,740

24,070

Total net assets

284,046

290,846

Total liabilities and net assets

562,363

520,531

 

(2) Quarterly consolidated income statement and quarterly consolidated income statement

(Quarterly consolidated income statement)

(First quarter consolidated cumulative period)

 

 

(Unit: million yen)

 

First quarter of the previous consolidated cumulative period

(Own May 16, 2021

To August 15, 2021)

First quarter consolidated cumulative period

(From May 16, 2022

To August 15, 2022)

amount of sales

235,684

243,181

Cost of sales

166,558

170,806

Gross profit

69,126

72,374

Selling, general and administrative expenses

56,237

59,057

Operating income

12,889

13,317

Non-operating income

 

 

Interest income

32

30

Dividend income

74

77

Equipment donations

92

139

Rent received

57

59

Compensation received

150

23

Insurance money received

33

10

others

131

109

Total non-operating income

572

449

Non-operating expenses

 

 

Interest expense

171

265

Premature cancellation penalty

68

Closed store related expenses

239

71

others

106

3

Total non-operating expenses

516

408

Ordinary profit

12,944

13,357

Extraordinary benefit

 

 

Gain on sales of fixed assets

0

Subsidy income

25

others

0

Total extraordinary profit

27

Extraordinary loss

 

 

Loss on retirement of fixed assets

6

15

Impairment loss

68

Total extraordinary loss

6

84

Income before tax adjustment

12,965

13,273

Income Taxes

4,624

4,725

Quarterly net income

8,341

8,548

Quarterly net income attributable to non-controlling interests

804

1,046

Quarterly net income attributable to owners of the parent company

7,536

7,501

 

(Quarterly Consolidated Comprehensive Income Statement)

(First quarter consolidated cumulative period)

 

 

(Unit: million yen)

 

First quarter of the previous consolidated cumulative period

(Own May 16, 2021

To August 15, 2021)

First quarter consolidated cumulative period

(From May 16, 2022

To August 15, 2022)

Quarterly net income

8,341

8,548

Other comprehensive income

 

 

Valuation difference on other securities

968

2,887

Adjustment amount for retirement benefits

19

10

Total other comprehensive income

988

2,898

Quarterly comprehensive income

9,330

11,446

(breakdown)

 

 

Quarterly comprehensive income for parent company shareholders

8,507

10,378

Quarterly comprehensive income for non-controlling interests

822

1,068

 

(3) Notes to Quarterly Consolidated Financial Statements

(Notes on going concern assumption)

Not applicable.

 

(Note when there is a significant change in the amount of shareholders' equity)

Not applicable.

 

(Application of special accounting treatment to the preparation of quarterly consolidated financial statements)

(Calculation of tax costs)

Tax expenses are calculated by reasonably estimating the effective tax rate after applying tax effect accounting to income before income taxes for the consolidated fiscal year including the first quarter of the fiscal year under review, and multiplying quarterly net income before income taxes by the estimated effective tax rate. is calculated.

However, if the calculation of tax costs using the estimated effective tax rate results in a significantly unreasonable result, the statutory effective tax rate is used.

The amount of corporate tax adjustment is included in the corporate tax.