Financial Statements
Year ended March 31, 2020
SMS CO., LTD.
Sumitomo Fudosan Shibakoen Tower,
2-11-1, Shibakoen, Minato-ku,
Tokyo, 105-0011, Japan
Consolidated Balance Sheets
SMS CO., LTD. and Its Consolidated Subsidiaries
As of March 31, 2019 and 2020
(Millions of yen) | |||
As of March 31, 2019 | As of March 31, 2020 | ||
Assets | |||
Current assets | |||
Cash and deposits | 10,703 | 11,091 | |
Accounts receivable - trade | 4,323 | 5,213 | |
Merchandise and finished goods | 1 | - | |
Work in process | 13 | 14 | |
Supplies | 36 | 30 | |
Accounts receivable - other | 4,478 | 6,183 | |
Prepaid expenses | 634 | 664 | |
Other | 46 | 18 | |
Allowance for doubtful accounts | (114) | (113) | |
Total current assets | 20,123 | 23,102 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings | 459 | 626 | |
Accumulated depreciation | (276) | (291) | |
Buildings, net | 183 | 335 | |
Tools, furniture and fixtures | 749 | 806 | |
Accumulated depreciation | (498) | (545) | |
Tools, furniture and fixtures, net | 251 | 261 | |
Machinery, equipment and vehicles | 42 | 37 | |
Accumulated depreciation | (30) | (17) | |
Machinery, equipment and vehicles, net | 12 | 20 | |
Right-of-use assets | - | 481 | |
Accumulated depreciation | - | (91) | |
Right-of-use assets, net | - | 389 | |
Total property, plant and equipment | 447 | 1,006 | |
Intangible assets | |||
Goodwill | 10,574 | 10,148 | |
Software | 1,174 | 1,637 | |
Trademark rights | 9,246 | 9,126 | |
Customer-related assets | 2,088 | 1,825 | |
Other | 0 | 0 | |
Total intangible assets | 23,083 | 22,738 | |
Investments and other assets | |||
Investment securities | * 2,048 | * 2,225 | |
Deferred tax assets | 855 | 873 | |
Lease and guarantee deposits | 880 | 1,039 | |
Other | 30 | 11 | |
Total investments and other assets | 3,814 | 4,149 | |
Total non-current assets | 27,344 | 27,893 | |
Total assets | 47,467 | 50,996 |
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(Millions of yen) | |||
As of March 31, 2019 | As of March 31, 2020 | ||
Liabilities | |||
Current liabilities | |||
Accounts payable - trade | 353 | 314 | |
Current portion of long-term loans payable | 2,487 | 2,487 | |
Accounts payable - other | 6,064 | 7,711 | |
Accrued expenses | 529 | 451 | |
Income taxes payable | 623 | 534 | |
Accrued consumption taxes | 435 | 536 | |
Advances received | 583 | 725 | |
Deposits received | 78 | 84 | |
Provision for bonuses | 481 | 600 | |
Provision for refund | 227 | 242 | |
Lease obligations | - | 112 | |
Other | 24 | 30 | |
Total current liabilities | 11,891 | 13,831 | |
Non-current liabilities | |||
Long-term loans payable | 17,632 | 15,144 | |
Net defined benefit liability | 311 | 354 | |
Deferred tax liabilities | 2,078 | 1,994 | |
Lease obligations | - | 260 | |
Other | 13 | 11 | |
Total non-current liabilities | 20,037 | 17,766 | |
Total liabilities | 31,928 | 31,597 | |
Net assets | |||
Shareholders' equity | |||
Capital stock | 2,208 | 2,246 | |
Capital surplus | 13 | 51 | |
Retained earnings | 14,971 | 19,079 | |
Treasury shares | (0) | (0) | |
Total shareholders' equity | 17,193 | 21,376 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 0 | 0 | |
Foreign currency translation adjustments | (1,834) | (2,149) | |
Total accumulated other comprehensive income | (1,833) | (2,149) | |
Subscription rights to shares | 179 | 171 | |
Total net assets | 15,539 | 19,398 | |
Total liabilities and net assets | 47,467 | 50,996 |
See the accompanying Notes to Consolidated Financial Statements.
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Consolidated Statements of Income
SMS CO., LTD. and Its Consolidated Subsidiaries
Fiscal years ended March 31, 2019 and 2020
(Millions of yen) | |||||
Fiscal year ended | Fiscal year ended | ||||
March 31, 2019 | March 31, 2020 | ||||
Net sales | 30,836 | 35,140 | |||
Cost of sales | 3,535 | 4,048 | |||
Gross profit | 27,301 | 31,091 | |||
Selling, general and administrative expenses | *1 | 22,558 | *1 | 26,156 | |
Operating income | 4,743 | 4,935 | |||
Non-operating income | |||||
Interest income | 11 | 24 | |||
Share of profit of entities accounted for using equity method | 1,352 | 1,486 | |||
Other | 66 | 62 | |||
Total non-operating income | 1,430 | 1,573 | |||
Non-operating expenses | |||||
Foreign exchange losses | 51 | 43 | |||
Interest expenses | 66 | 102 | |||
Arrangement fee | 46 | - | |||
Other | 30 | 6 | |||
Total non-operating expenses | 194 | 152 | |||
Ordinary income | 5,979 | 6,355 | |||
Extraordinary income | |||||
Gain on sale of non-current assets | 1 | 1 | |||
Gain on sale of shares of subsidiaries and associates | 6 | - | |||
Gain on sale of businesses | *2 | - | *2 | 55 | |
Total extraordinary income | 8 | 57 | |||
Extraordinary losses | |||||
Loss on sale and retirement of non-current assets | *3 | 165 | *3 | 23 | |
Loss on valuation of investment securities | 4 | - | |||
Loss on business withdrawal | *4 | 233 | *4 | - | |
Loss on cancellation of events | *5 | - | *5 | 13 | |
Other | 49 | - | |||
Total extraordinary losses | 453 | 37 | |||
Profit before income taxes | 5,534 | 6,375 | |||
Income taxes - current | 1,564 | 1,702 | |||
Income taxes - deferred | (221) | (87) | |||
Total income taxes | 1,342 | 1,615 | |||
Profit | 4,191 | 4,760 | |||
Profit attributable to non-controlling interests | (25) | - | |||
Profit attributable to owners of parent | 4,216 | 4,760 |
See the accompanying Notes to Consolidated Financial Statements.
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Consolidated Statements of Comprehensive Income
SMS CO., LTD. and Its Consolidated Subsidiaries
Fiscal years ended March 31, 2019 and 2020
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2019 | March 31, 2020 | |
Profit | 4,191 | 4,760 |
Other comprehensive income |
Valuation difference on available-for-sale securities Foreign currency translation adjustments
Share of other comprehensive income of entities accounted for using equity method
0 | (0) |
(399) | (310) |
(3) | (4) |
Total other comprehensive income (loss) Comprehensive income Comprehensive income attributable to:
* (402) | * (315) |
3,788 | 4,444 |
Owners of parent | 3,806 | 4,444 |
Non-controlling interests | (17) | - |
See the accompanying Notes to Consolidated Financial Statements.
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SMS Co. Ltd. published this content on 03 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2023 23:07:15 UTC.