Interim report
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- 1 - Feb. 12, 2025 Brief Financial Report for the Third Quarter Ending March 2025 [Based on Japanese Accounting Standards] (Consolidated) Listed Company: PIOLAX Inc. Code No.: 5988 (URL https://www.piolax.co.jp) Representative: President Satoshi Yamada Contact person in charge: General Manager, Management & Planning Department Toshihiro Fukuda (Tel. 045-577-3880) Date scheduled to start dividend payment: - Preparation of supplementary materials for financial results: None Information meeting for financial results to be held: None (Amounts are rounded to the nearest million yen .) 1. Consolidated performance for the third quarter ending March 31, 2025 (April 1, 2024 to December 31, 2024) (1) Consolidated business results (Total sum) (Percentage changes from the same period of the previous year.) Net sales Operating income Ordinary income Net income attributable to owners of PIOLAX Inc. Millions of yen % Millions of yen % Millions of yen % Millions of yen % FY3/25 3Q 47,953 -0.5 2,191 -40.4 2,962 -39.0 1,872 -52.0 FY3/24 3Q 48,172 10.4 3,674 14.8 4,856 23.3 3,903 36.1 Note: Comprehensive income FY3/25 3Q 2,939 million yen (-65.7 %), FY 3/24 3Q 8,581 million yen (-9.3 %) Quarter net income per share Quarter net income per share-diluted Yen Yen FY3/25 3Q 55.14 - FY3/24 3Q 114.67 - (2) Consolidate financial position Total assets Net assets Equity capital ratio Millions of yen Millions of yen % FY3/25 3Q 118,906 105,773 87.8 FY3/24 121,416 107,944 87.5 (Reference) Equity capital: FY3/25 3Q 104,394 million yen, FY 3/24 106,297 million yen 2. Cash dividends Annual dividends End of first quarter End of second quarter End of third quarter Term end Full year Yen Yen Yen Yen Yen FY3/24 - 69.00 - 59.00 128.00 FY3/25 - 39.00 FY3/25 (Forecast) - 53.00 92.00 Note: 1. Changes in the latest forecasts released: None 2. The end of second quarter dividend for the fiscal year ending March 31, 2024 includes a 90th anniversary commemorative dividend of 10.00 yen. 3. Forecast consolidated performance for the year ending March 31, 2025 (April 1, 2024 to March 31, 2025) (Percentage changes from the same period of the previous year) Net sales Operating income Ordinary income Net income attributable to owners of PIOLAX Inc. Net income per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Annual 63,500 -1.6 2,400 -49.5 3,400 -39.8 2,200 -45.2 64.59 Note: Changes in the latest forecasts released: None
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- 2 - PIOLAX Inc. (5988) Brief Financial Report for the Third Quarter Ending March 2025 2. [Quarterly consolidated financial statement] (1) Quarterly consolidated balance sheet (Millions of Yen) Previous consolidated FY (March 31, 2024) Current Third quarter (December 31, 2024) Assets Current assets Cash and cash equivalents 35,652 33,518 Notes and accounts receivable-trade 13,442 12,403 Electronically recorded monetary claims-operating 2,213 2,189 Marketable securities 1,620 807 Goods and Finished products 5,980 5,768 Material in progress 2,238 2,338 Raw materials and inventory goods 3,148 3,075 Income taxes receivable 34 510 Other 2,769 2,943 Allowance for bad loans -38 -38 Total current assets 67,062 63,516 Fixed assets Tangible fixed assets Buildings and structures (net) 12,144 11,878 Machinery equipment and vehicles (net) 7,868 7,914 Tools, furniture and fixture (net) 2,514 2,417 Land 5,885 5,902 Lease asset (net) 448 465 Construction in progress 1,304 2,461 Total tangible fixed assets 30,165 31,039 Intangible fixed assets Other 1,565 1,486 Total intangible fixed assets 1,565 1,486 Investments and other assets Investment account securities 21,311 21,516 Other 1,315 1,351 Allowance for bad loans -4 -4 Total investments and other assets 22,623 22,863 Total fixed assets 54,353 55,390 Total assets 121,416 118,906
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- 3 - PIOLAX Inc. (5988) Brief Financial Report for the Third Quarter Ending March 2025 (Millions of Yen) Previous consolidated FY (March 31, 2024) Current third quarter (December 31, 2024) Liabilities Current liabilities Accounts payable-trade 3,151 2,998 Accrued income taxes 689 233 Allowance reserve 938 471 Asset removal liabilities 12 - Other 4,650 6,393 Total current liabilities 9,442 10,097 Long-term liabilities Provision for share-based remuneration for directors 159 119 Provision for share-based remuneration 17 32 Net defined benefit liability 323 421 Asset removal liabilities 100 101 Other 3,428 2,361 Total long-term liabilities 4,029 3,035 Total liabilities 13,472 13,133 Total equity Equity Common stock 2,960 2,960 Capital surplus 2,634 2,572 Retained earnings 94,068 91,135 Treasury stock -4,732 -4,667 Total shareholders’ equity 94,932 92,001 Accumulated other comprehensive income Unrealized gain on available-for-sale securities 1,791 1,507 Deferred gains or losses on hedges -0 -4 Foreign currency translation adjustments 9,469 10,777 Remeasurements of defined benefit plans 104 111 Total accumulated other comprehensive income 11,365 12,392 Non-controlling interests 1,646 1,378 Total equity 107,944 105,773 Total liabilities and equity 121,416 118,906
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- 4 - PIOLAX Inc. (5988) Brief Financial Report for the Third Quarter Ending March 2025 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income [Consolidated Statements of Income] [FY2025 Third quarter] (Millions of Yen) Previous Third quarter (April 1, 2023 to December 31, 2023) Current Third quarter (April 1, 2024 to December 31, 2024) Net sales 48,172 47,953 Cost of sales 36,042 36,853 Gross profit 12,130 11,100 Selling, general and administrative expenses 8,455 8,908 Operating income 3,674 2,191 Non-operating income Interest income 399 523 Dividend income 82 84 Equity method investment gain 688 317 Other 440 200 Total non-operating income 1,610 1,125 Non-operating expenses Interest expense 8 8 Foreign exchange loss 256 66 Loss on disposal of property and equipment 18 13 Loss on valuation of derivatives - 17 Cost of lease revenue 6 5 Building demolition expense 115 72 Commission fee - 100 Other 24 70 Total non-operating expenses 429 353 Ordinary income 4,856 2,962 Extraordinary loss Impairment loss 23 - Total extraordinary loss 23 - Quarterly net income before taxes and other adjustments 4,832 2,962 Corporate taxes 885 1,051 Net income before non-controlling interests 3,946 1,911 Net income attributable to non-controlling interests 43 38 Net income attributable to owners of PIOLAX Inc. 3,903 1,872
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- 5 - PIOLAX Inc. (5988) Brief Financial Report for the Third Quarter Ending March 2025 [Consolidated Statements of Comprehensive Income] [FY2025 Third quarter] (Millions of Yen) Previous Third quarter (April 1, 2023 to December 31, 2023) Current Third quarter (April 1, 2024 to December 31, 2024) Net income before non-controlling interests 3,946 1,911 Other comprehensive income Valuation difference on available-for-sale securities 63 -61 Deferred gains or losses on hedges -0 -4 Foreign currency translation adjustment 4,167 1,177 Share of other comprehensive income of associates accounted for using equity method 405 -83 Total other comprehensive income 4,634 1,028 Comprehensive income 8,581 2,939 (Comprehensive income attributable to) Comprehensive income attributable to owners of PIOLAX Inc. 8,449 2,900 Comprehensive income attributable to non-controlling interests 131 39