FUYO GENERAL LEASE C

8424
End-of-day quote. End-of-day quote  - 01/15
7270JPY -0.68%

Fuyo General Lease : Announces Summary of Results for the First Three Months of the Fiscal Year Ending March 31, 2021

07/29/2020 | 01:05am

July 29, 2020

Fuyo General Lease Co., Ltd.

President & Chief Executive Officer: Yasunori Tsujita

Ticker: 8424, First Section, Tokyo Stock Exchange

Inquiries: Mayumi Kimura,

General Manager, Corporate Communication Division

Tel: +81352758891

Fuyo General Lease Announces Summary of Results

for the First Three Months of the Fiscal Year Ending March 31, 2021

Fuyo General Lease Co., Ltd. today announced a summary of results for the first three months of the fiscal year ending March 31, 2021 (fiscal 2020). This announcement should be read in conjunction with the Consolidated Financial Report for the First Three Months of the Fiscal Year Ending March 31, 2021 (Fiscal 2020), also released today.

1. Overview of Results for the First Three Months of Fiscal 2020

(Consolidated)

Total revenues, operating profit, ordinary profit and profit attributable to the owners of a parent all exceeded the results of the same period of the previous year. Additionally, total revenues, operating profit and ordinary profit set record highs for the first 3 months.

The balance of operating assets (after deducting unrealized installment income) increased by 148 billion yen (6.2%) year-on-year to 2,532 billion yen by making Yamato Lease Co., Ltd. a consolidated subsidiary.

Summary of Consolidated Operating Results for the First Three Months of Fiscal 2020

(April 1-June 30, 2020)

¥ millions

Q1 FY2020

YoY change

Amount

%

Total revenues

179,019

14,053

8.5%

Operating profit

9,574

258

2.8%

Ordinary profit

10,219

295

3.0%

Profit attributable to

6,196

36

0.6%

owners of parent

1

Full-year

forecast

720,000

42,000

45,000

27,000

2. Year-on-year Comparison (Consolidated)

A comparison of operating results for the first three months of fiscal 2020 with the same period of the previous fiscal year is as follows:

(¥100 million; amounts are rounded to the nearest 100 million yen

Q1 FY2019

Q1 FY2020

YoY change

Apr. 2019-June 2019

Apr. 2020-June 2020

Amount

%

Total revenues

1,650

1,790

141

8.5

Total costs

1,475

1,592

117

7.9

Interest expenses

24

26

2

10.6

Gross profit

174

198

24

13.7

Selling, general

81

103

21

26.3

and administrative expenses

Credit-related costs

2

6

4

238.8

Operating profit

93

96

3

2.8

Non-operating income

6

6

0

6.1

Reversal of

0

1

0

98.2

credit-related costs

Ordinary profit

99

102

3

3.0

Extraordinary gains

(0)

(0)

(0)

Profit before income taxes

99

102

3

2.7

Profit attributable to owners of parent

62

62

0

0.6

Basic earnings per share

¥204.23

¥206.71

Net assets per share

¥9,204.20

¥9,297.39

Note:

Calculation of year-on-year amount and percentage changes are derived from figures that include fractions less than 100 million yen.

3. Segment Results (Consolidated)

Operating results for each segment for the first three months of fiscal 2020 were as follows.

Fiscal 2020 Q1 Consolidated Operating Results (April 1, 2020 - June 30, 2020)

¥100 million; amounts are rounded to the nearest 100 million yen

Profit

Revenues

Costs

before

Interest

Gross profit

interest

expenses

expenses

Lease

1,167

1,038

129

14

115

Installment Sales

131

127

4

1

3

Lease and Installment

1,298

1,165

133

14

119

Sales total

Financing

50

1

49

11

38

Other

442

400

43

1

42

Total

1,790

1,566

224

26

198

2

For reference:

Fiscal 2019 Q1 Consolidated Operating Results (April 1, 2019 - June 30, 2019)

(¥100 million; amounts are rounded to the nearest 100 million yen)

Profit

Revenues

Costs

before

Interest

Gross profit

interest

expenses

expenses

Lease

1,127

1,000

127

13

115

Installment Sales

91

87

4

1

3

Lease and Installment

1,218

1,087

132

13

118

Sales total

Financing

33

1

32

10

23

Other

398

364

34

0

33

Total

1,650

1,452

198

24

174

3

4. Operating Assets (Consolidated)

Total operating assets at June 30, 2020 were ¥2,532 billion, up ¥148 billion, or 6.2%, from the end of fiscal 2019 (March 31, 2020).

(¥100 million

Lease

Installment sales

Financing & Other

23,840

25,320

22,628

7,096

6,919

6,020

998

784

960

17,226

16,136

15,648

End of Fiscal 2018

End of Fiscal 2019

End of Q1 Fiscal 2020

(June 30, 2020)

Note: Installment receivables are net of deferred profit on installment sales.

5. Fund Procurement (Consolidated)

The funding balance at June 30, 2020 was ¥2,463.6 billion, up ¥232.6 billion, or 10.4%, from the end of fiscal 2019 (March 31, 2020). Direct financing provided 34.4% of total funds procured.

(¥100 million

Direct financing

Indirect financing

24,636

22,310

20,970

16,161

14,852

13,821

8,474

7,459

7,149

Direct financing

Direct financing

Direct financing

34.4

34.1

33.4

End of Fiscal 2018

End of Fiscal 2019

End of Q1 Fiscal 2020

(June 30, 2020)

Note: Lease obligations are excluded.

4

6. Status of Net Assets (Consolidated)

Net assets increased 4.7 billion yen (1.5%) to 316.5 billion yen from the end of previous fiscal year. The equity ratio became 9.4% from an increase in cash and deposits to secure liquidity on hand and an increase in total assets accompanying the conversion of Yamato Lease Co., Ltd. to a consolidated subsidiary.

(¥100 million

Net Assets

Equity Ratio

3,118

3,165

2,950

10.1%

10.0%

9.4%

End of Q1 Fiscal 2020

End of Fiscal 2018

End of Fiscal 2019

June 30, 2020

7. Consolidated Full-year Earnings Forecast and Dividend Forecast for Fiscal 2020

The Company's consolidated full-year earnings forecast and cash dividend forecast for fiscal 2020 are unchanged from those announced on May 8, 2020.

(1) Consolidated Full-year Earnings Forecast for Fiscal 2020

¥ millions, except per share amounts

Total revenues

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

per share

owners of parent

Full year

720,000

42,000

45,000

27,000

¥900.84

(2) Cash Dividend Forecast for Fiscal 2020

Interim results

Year-end

Full year

Dividend per share

¥110.00

¥110.00

¥220.00

Note:

The above forecasts are based on currently available data and are subject to change due to

various factors.

5

Reference: Newly Executed Contract Volume in the Lease Segment, by Equipment Type (Consolidated)

¥100 million

Q1 FY2019

Q1 FY2020

IT & Office Equipment

528

446

Industrial Machinery

166

51

Civil Engineering &

30

23

Construction Machinery

Transportation Equipment

108

85

Medical Devices

76

51

Commercial/Services

75

62

Equipment

Other

711

511

Total

1,694

1,228

Composition

Q1 Fiscal 2019

IT & Office

Other

Equipment

31%

42%

Civil Engineering

Commercial/

Industrial

&

Construction

Services Equipment

Machinery

Machinery

4%

10%

2%

Medical Devices

Transportation

Equipment

5%

6%

Q2 Fiscal 2020

Other

IT & Office

Equipment

42%

36%

Commercial/

Civil Engineering &

Services Equipment

Construction

5%

Industrial Machinery

4%

Machinery

2%

Medical Devices

Transportation Equipment

4%

7%

6

Disclaimer

Fuyo General Lease Co. Ltd. published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2020 05:05:24 UTC

© Publicnow 2021
Copier lien
All news about FUYO GENERAL LEASE CO., LTD.
12/27
11/29
09/29
08/18
08/14