March 10, 2022
Consolidated Financial Results
for the Third Quarter of the Fiscal Year Ended April 30, 2022(Q3 FY2022)
Company name: | Tenpos Holdings Co., Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 2751 |
URL: | https://www.tenpos.co.jp |
Representative: | Atsushi Morishita, President |
Inquiries: | Kazumitsu Morishita, Manager, Management Department |
Telephone: | +81-3-3736-0319 |
Scheduled date to file quarterly securities report: March 11, 2022
Scheduled date to commence dividend payments: -
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing: | Yes (for analysts and institutional investors) |
(Yen amounts are rounded down to millions, unless otherwise noted.) |
1. Consolidated financial results for the Third Quarter of the Fiscal Year Ended April 30, 2022 (from May 1, 2021-January 31, 2022)
- Consolidated operating results (cumulative) (Percentages indicate over the same period of the previous year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Nine months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
April 30, 2022 | 21,866 | 10.7 | 1,545 | 123.1 | 2,279 | 155.2 | 1,347 | 1,023.1 | |
April 30, 2021 | 19,744 | (11.2) | 692 | (55.6) | 893 | (48.9) | 120 | (87.5) | |
Note: Comprehensive profit | For the nine months ended April 30, 2022: ¥1,449 million[-%] | |||
For the nine months ended April 30, 2021: (¥496 million) [-%] | ||||
Basic earnings | Diluted earnings | |||
per share | per share | |||
Nine months ended | Yen | Yen | ||
April 30, 2022 | 113.42 | 112.24 | ||
April 30, 2021 | 10.05 | 9.95 | ||
(2) Consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | Net assets per share | |||
Nine months ended | Millions of yen | Millions of yen | % | |||
April 30, 2022 | 18,143 | 12,666 | 61.8 | 943.03 | ||
April 30, 2021 | 16,902 | 11,168 | 58.4 | 832.08 | ||
Reference: Equity |
Nine Months Ended April 30, 2022:¥11,215 million
Fiscal Year Ended April 30, 2021: ¥9,884 million
2. Dividends
Annual dividends per share | |||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | |||
Yen | Yen | Yen | Yen | Yen | |||
Fiscal year ended | - | 0.00 | - | 8.00 | 8.00 | ||
April 30, 2021 | |||||||
Fiscal year ending | - | 0.00 | |||||
April 30, 2022 | |||||||
Fiscal year ending | |||||||
April 30, 2022 | - | 10.00 | 10.00 | ||||
(Forecast) | |||||||
Note: Revisions to divided forecasts published most recently: None |
3. Consolidated Forecasts for the Fiscal Year Ending April 30, 2022 (May 1, 2021 - April 30, 2022)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Profit | |||||||
Owners of parent | per share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |||
Year ending April 30, | 28,641 | 6.0 | 1,770 | 80.3 | 2,738 | 89.0 | 1,450 | 628.6 | 122.01 | ||
2022 | |||||||||||
Note: Revisions to financial forecasts published most recently: Yes |
* Notes
(1) Changes in important subsidiaries during the current quarterly consolidated cumulative
: None
period
(Changes in specified subsidiaries due to changes in the scope of consolidation) New company (company name), excluded company (company name)
(2) Application of accounting policies specific to the preparation of quarterly consolidated
: None
financial statements
(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. | : None | |
2.Changes in accounting policies other than 1. | : None | |
3.Change of accounting estimate | : None | |
4.Restatement of corrections | : None | |
(4) Number of issued shares (common stock) | ||
- Number of issued shares at the end of the period (including treasury stock)
- Number of treasury stock at the end of the period
- Average number of shares during the period (cumulative quarterly)
3Q | for | the | fiscal | year | 14,314,800 | |||
14,314,800 shares | April 2021 | |||||||
ending April 2022 | shares | |||||||
3Q | for | the | fiscal | year | 2,435,949 | |||
2,422,112 shares | April 2021 | |||||||
ending April 2022 | shares | |||||||
3Q | for | the | fiscal | year | April | 2021 | 11,924,158 | |
11,884,401 shares | ||||||||
ending April 2022 | 3Q | shares | ||||||
- Quarterly financial statements are not subject to quarterly reviews by certified accountants or audit corporations.
- Explanation on proper use of earnings forecasts and other special notes
The statements regarding the future, such as the business outlook, described in this material are based on the information currently available to the Company and certain assumptions that are judged to be reasonable, The actual business performance could differ due to various factors. In use of earnings forecasts, refer to the note [1. Summary of business results, etc. (3) Information on the Future Outlook, Including Consolidated Business Results Forecasts]
Accompanying Materials - Contents
1. Qualitative Information on Quarterly Financial Results…………………………………………………………… | 2 | |
(1) Details of Operating Results …………………………………………………………………………………… | 2 | |
(2) Details of Financial Position…………………………………………………………………………………… | 8 | |
(3) | Information on the Future Outlook, Including Consolidated Business Results Forecasts …………………… | 8 |
2. Quarterly Consolidated Financial Statements and Key Notes ……………………………………………………… | 9 | |
(1) | Quarterly Consolidated Balance Sheets ……………………………………………………………………… | 9 |
(2) | Quarterly Consolidated Statements of Income and Comprehensive Incom …………………………………… 11 | |
(3) | Notes on Quarterly Consolidated Financial Statements ……………………………………………………… | 13 |
(Notes on Going Concern Assumption) ………………………………………………………………………… 13 | ||
(Notes when there is a significant change in the amount of shareholder's equity) …………………………… | 13 | |
(Changes in Accounting policy) ………………………………………………………………………………… 13 | ||
(Segment Information, etc) ………………………………………………………………………………………14 | ||
(Revenue recognition) ……………………………………………………………………………………………14 |
3. Others ………………………………………………………………………………………………………………… 15 Important Events Related to the Premise of a Going Concern ………………………………………………………15
1
1. Qualitative Information on Quarterly Financial Results
(1) Details of Operating Results
The Japanese economy, the declaration of a state of emergency and the issuance and lifting of priority measures to prevent the spread of new coronavirus infections have been repeatedly issued and lifted, and the restaurant industry's performance has continued to improve and worsen each time. Under such circumstances, even with its food and beverage business, the Group's consolidated operating results for the period under review were as follows: net sales of 21,866 million yen (up 10.7% year-on-year), operating income of 1,545 million yen (up 123.1% year-on-year), ordinary income of 2,279 million yen (up 155.2% year-on-year), quarterly income attributable to shareholders of the parent company Net income was 1,347 million yen (up 1,023.1% y-o-y), and if it continues at this level, ordinary income for the full year ending April 30, 2022 will likely exceed a record high of 2,700 million yen.
Since January 2018, the Group has been offering a restaurant management support service called "Dr. Tenpos," a restaurant management support service, the Group has been working to expand its product sales and information/services businesses with the aim of changing the way of doing business to one where goods are sold by selling information and services instead of "goods" to customers. Although the information/services business itself has yet to achieve success, we believe we are on the right track, as evidenced by the 21.8% year-on-year increase in segment sales and the 42.6% year-on-year increase in segment income in the merchandising business, which serves restaurants, during the third quarter of the current fiscal year.
In addition, the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020. The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and others were applied from the beginning of the first quarter of the current fiscal year. As a result, net sales, cost of sales, and selling, general and administrative expenses decreased 252 million yen, 102 million yen, and 150 million yen, respectively, in the third quarter of the current consolidated cumulative period, but there was no impact on operating income, ordinary income, and income before income taxes and minority interests.
Operating profit | (Unit: million yen) | |||
Segment name | Period form May 1, 2020 | Period form May 1, 2021 | difference | Growth Rate |
To January 31, 2021 | To January 31, 2022 | |||
Product sales business | 1,357 | 1,936 | 578 | 42.6% |
Information and service | (82) | 62 | 145 | Returning to profit |
business | ||||
Food service business | (524) | (386) | 138 | Deficit Improvement |
total | 750 | 1,613 | 862 | 114.9% |
(note)The above amounts are before consolidation climination.
Ordinary Income | (Unit: million yen) | |||||
Segment name | Period form May 1, 2020 | Period form May 1, 2021 | difference | Growth Rate | ||
To January 31, 2021 | To January 31, 2022 | |||||
Product sales business | 1,412 | 2,064 | 651 | 46.1% | ||
Information and service | (22) | 93 | 115 | Returning | to | profit |
business | ||||||
Food service business | (439) | 189 | 628 | Returning | to | profit |
total | 951 | 2,347 | 1,396 | 146.8% | ||
A summary of each segment business is as follows.
2
1.Product sales
In the product sales business, an increase in orders from customers opening new restaurants due to expectations of a recovery in economic activity and replacement demand for kitchen equipment using subsidies resulted in segment sales of 15,854 million yen (up 21.8% year-on-year) and segment income of 1,936 million yen (up 42.6% year-on-year) in the first three quarters under review. All three companies in the merchandise sales business, Tenpos Busters, Kitchen Techno, and Tenpos.com, exceeded the results for the nine months ended April 30, 2020, before the Corona disaster.
[Store Sales of used kitchen equipment, etc. Tenpos Busters Co., Ltd.]
Net sales of 12,078 million yen (+25.3% YoY) Operating income 1,614 million yen (+40.1% YoY)
Tenpos Busters Co., Ltd. is Japan's largest seller of used kitchen equipment, and is not only a retailer of goods, but also a "Dr. Doctor", an information and service useful for restaurant management. Tenpos Busters is working to attract customers opening new restaurants and increase sales per customer by providing "Dr. Tenpos. In the third quarter of the current fiscal year, due in part to rush demand to take advantage of subsidies, sales for the same period were very strong at 4,138 million yen (up 27.5% year-on-year) and operating income at 638 million yen (up 65.6% year-on-year). However, due to the issuance of "priority measures to prevent the spread of the disease" in January 2022, the number of customers in the last week of January declined slightly by 3.1% from the same period of the previous year, which caused us to reassure our customers.
In the "comprehensive order-taking" sales activities that began in the second quarter, which are triggered by orders for interior work, we have contracted with 23 interior work companies nationwide and established a system to accept orders for interior work. In addition, we selected 25 of the top-performingin-store sales staff and began training them to become doctors (restaurant producers).
[Direct sales of kitchen appliance to major food service companies KITCHEN TECHNO CORPORATION] Net sales of 2,306 million yen (up 12.1% y/y) Operating income 177 million yen (up 19.9% y/y)
Orders received from major supermarkets for large-scale remodeling projects and orders from listed companies aggressively entering the restaurant business led to a 12.1% increase in net sales for the period under review compared to the same period last year. In terms of operating income, the sales volume of our own product, "Smokeless BBQ Roaster Tetsujin 29 (Niku-go)," was strong, up 229.0% year-on-year, and other products with high gross profit margins, such as "noodle-making machines" and "used ticket vending machines" that we purchase, refurbish and sell in-house, also contributed to the increase in sales. Due to an increase in the number of units sold, operating income for the nine months ended December 31, 2012 increased 19.8% from the same period of the previous year. In response to an increase in orders for the "Smokeless Yakiniku Roaster Tetsujin 29 (Niku- go)," which is selling well, we have started to increase production in Japan.
[Sales of kitchen appliances and food products for consumers through web-based shopping TENPOS.COM Co., Ltd.]
Net sales of 1,944 million yen (+7.7% YoY) Operating income: 68 million yen (+14.7% YoY)
Tenpos.com Inc., which operates Japan's largest commercial kitchen appliance shopping site, has focused on measures to attract customers who are opening new restaurants from an early stage by using "information search" in addition to "product search" to attract customers. Currently, the company operates "Tenpos Food Media," a restaurant-supporting media, "Business Category Opening Specials," a useful website for new restaurant openers, and a mail-order website specialized for each business category. By acquiring customers at an early stage of preparation for opening a new restaurant, we are able to offer a wider range of proposals for kitchen equipment, and during the third quarter of the current fiscal year, the average sales per customer increased 19.4% from the same period of the previous year. In addition, due to the global shortage of semiconductor parts and damage to material manufacturers caused by natural disasters, kitchen appliance manufacturers that manufacture and sell commercial refrigerators and ice machines have experienced production delays and order stoppages, resulting in only a 7.7% increase in net sales for the period under review compared to the same period of the previous year, but new equipment As of the end of January 2022, we had 85 million yen in confirmed payments for deliveries made in February or later due to delivery delays. Despite the delay in receiving new kitchen equipment, net sales for the period under review totaled 1,944 million yen. Note that sales of used kitchen equipment during the period under review were strong, up 54.7% from the same period of the previous year.
The application of the revenue recognition accounting standard reduced net sales by 230 million yen, but did not affect operating income.
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Tenpos Holdings Co. Ltd. published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 03:45:08 UTC.