- 1 - Financial Results for the Year Ended March 31, 2020 (J-GAAP) May 8, 2020 Name of listed company: NICHIIGAKKAN CO., LTD. Listed on: Tokyo Stock Exchange 1st Section Securities code: 9792 URL http://www.nichiigakkan.co.jp Representative: Nobusuke Mori, Representative Director and President Contact: Kazuya Shiiya , Executive Officer and General Manager-Accounting TEL:03-3291-2121 Scheduled date to hold the ordinary general meeting of shareholders:June 24, 2020 Scheduled date to start dividends distribution:June 25, 2020 Scheduled date for filing annual financial report: June 25, 2020 Supplementary materials prepared: Yes Results information meeting held: None (Figures shown are rounded down to the nearest million yen.) 1. Consolidated financial results for the year ended March 31, 2020 (April 1, 2019 – March 31, 2020) (1) Consolidated operating results (Percentage figures represent changes from the previous year.) Net sales Operating income Ordinary income Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % Year ended March 31, 2020 297,965 3.5 12,162 21.2 7,483 31.2 4,058 (33.6) Year ended March 31, 2019 287,882 1.5 10,032 31.5 5,703 57.2 6,108 614.9 (Note) Comprehensive income: Year ended March 31, 2020: 4,319 million yen(△30.3%) Year ended March 31, 2019: 6,198 million yen(473.9%) Net income per share Diluted net income per share Return on equity Ordinary income to total assets Operating income to net sales Yen Yen % % % Year ended March 31, 2020 62.97 62.43 9.8 3.9 4.1 Year ended March 31, 2019 95.01 94.76 16.0 3.0 3.5 Reference: Equity-method investment profit (loss) : Year ended March 31, 2020 :111 million yen Year ended March 31, 2019: 71 million yen (2) Consolidated financial position Total assets Net assets Equity ratio Net assets per share Million yen Million yen % Yen As of March 31, 2020 192,804 44,025 22.4 660.91 As of March 31, 2019 193,640 41,077 20.6 621.42 Reference: Shareholders’ equity: As of March 31, 2020: 43,180 million yen As of March 31, 2019: 39,986 million yen (3) Consolidated cash flows Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash and cash equivalents at end of year Million yen Million yen Million yen Million yen Year ended March 31, 2020 10,439 (1,907) (8,163) 18,386 Year ended March 31, 2019 13,401 (2,928) (10,562) 18,075 2. Dividends Annual dividends Total dividends paid (annual) Payout ratio (consolidated) Dividends to net assets (consolidated) 1Q-end 2Q-end 3Q-end Year-end Annual Yen Yen Yen Yen Yen Million yen % % Year ended March 31, 2019 - 15.00 - 20.00 35.00 2,252 36.8 5.9 Year ended March 31, 2020 - 20.00 - 20.00 40.00 2,595 63.5 6.2 Year ending March 31, 2021 (forecast) - - - - - - (Note) As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender Shares” on May 8, 2020, the Company is scheduled to become a wholly owned subsidiary of K.K. BCJ -44 (hereinafter the “Tender Offeror”) as a result of a tender offer by the Tender Offeror for common shares outstanding (hereinafter the “Company’s Shares”) and share acquisition rights of the Company (hereinafter the “Tender Offer”) and a series of subsequent transactions , and the Company’s Shares are scheduled to be delisted. Therefore, the forecast of dividends for the fiscal year ending March 31, 2021 is not stated. 3. Forecast of consolidated financial results for the fiscal year ending March 31, 2021 (April 1, 2020 to March 31, 2021) As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender Shares” on May 8, 2020, the Company is scheduled to become a wholly-owned subsidiary of the Tender Offeror as a result of the Tender Offer by the Tender Offeror and a series of subsequent transactions, and the Company’s Shares are scheduled to be delisted. Therefore, the forecast of consolidated financial results for the fiscal year ending March 31, 2021 is not stated.
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Financial Results for the Year Ended March 31, 2020 (J-GAAP)
May 8, 2020
Name of listed company: NICHIIGAKKAN CO., LTD. Listed on: Tokyo Stock Exchange 1st Section
Representative: Nobusuke Mori, Representative Director and President
Contact: Kazuya Shiiya , Executive Officer and General Manager-Accounting TEL:03-3291-2121
Scheduled date to hold the ordinary general meeting of shareholders:June 24, 2020
Scheduled date to start dividends distribution:June 25, 2020 Scheduled date for filing annual financial report: June 25, 2020
Supplementary materials prepared: Yes
Results information meeting held: None
(Figures shown are rounded down to the nearest million yen.) 1. Consolidated financial results for the year ended March 31, 2020 (April 1, 2019 – March 31, 2020)
(1) Consolidated operating results (Percentage figures represent changes from the previous year.)
Net sales Operating income Ordinary income Profit attributable to
owners of parent
Million yen % Million yen % Million yen % Million yen %
Year ended March 31, 2020 297,965 3.5 12,162 21.2 7,483 31.2 4,058 (33.6)
Year ended March 31, 2019 287,882 1.5 10,032 31.5 5,703 57.2 6,108 614.9 (Note) Comprehensive income: Year ended March 31, 2020: 4,319 million yen(△30.3%)
Year ended March 31, 2019: 6,198 million yen(473.9%)
Net income
per share Diluted net income
per share Return on equity
Ordinary income
to total assets Operating income to
net sales
Yen Yen % % %
Year ended March 31, 2020 62.97 62.43 9.8 3.9 4.1
Year ended March 31, 2019 95.01 94.76 16.0 3.0 3.5 Reference: Equity-method investment profit (loss) : Year ended March 31, 2020 :111 million yen
Year ended March 31, 2019: 71 million yen
(2) Consolidated financial position
Total assets Net assets Equity ratio Net assets per share
Million yen Million yen % Yen
As of March 31, 2020 192,804 44,025 22.4 660.91
As of March 31, 2019 193,640 41,077 20.6 621.42 Reference: Shareholders’ equity: As of March 31, 2020: 43,180 million yen As of March 31, 2019: 39,986 million yen
(3) Consolidated cash flows
Cash flows from
operating activities Cash flows from investing
activities Cash flows from financing
activities Cash and cash equivalents
at end of year
Million yen Million yen Million yen Million yen
Year ended March 31, 2020 10,439 (1,907) (8,163) 18,386
Year ended March 31, 2019 13,401 (2,928) (10,562) 18,075
Yen Yen Yen Yen Yen Million yen % % Year ended March 31, 2019 - 15.00 - 20.00 35.00 2,252 36.8 5.9
Year ended March 31, 2020 - 20.00 - 20.00 40.00 2,595 63.5 6.2
Year ending March 31, 2021
(forecast) - - - - - -
(Note) As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender
Shares” on May 8, 2020, the Company is scheduled to become a wholly owned subsidiary of K.K. BCJ-44 (hereinafter the
“Tender Offeror”) as a result of a tender offer by the Tender Offeror for common shares outstanding (hereinafter the “Company’s
Shares”) and share acquisition rights of the Company (hereinafter the “Tender Offer”) and a series of subsequent transactions, and
the Company’s Shares are scheduled to be delisted. Therefore, the forecast of dividends for the fiscal year ending March 31, 2021
is not stated.
3. Forecast of consolidated financial results for the fiscal year ending March 31, 2021 (April 1, 2020 to March 31, 2021) As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender
Shares” on May 8, 2020, the Company is scheduled to become a wholly-owned subsidiary of the Tender Offeror as a result of the
Tender Offer by the Tender Offeror and a series of subsequent transactions, and the Company’s Shares are scheduled to be delisted.
Therefore, the forecast of consolidated financial results for the fiscal year ending March 31, 2021 is not stated.
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* Notes
(1) Changes in subsidiaries during the fiscal year (Changes in specified subsidiaries resulting in changes in scope of consolidation): None
(2) Changes in accounting policies, changes of accounting estimates and restatement
1) Changes in accounting policies due to revisions of accounting standards, etc.: None
2) Changes in accounting policies due to reasons other than those stated in 1): None
3) Changes in accounting estimates: None
4) Restatement: None
(3) Number of shares outstanding (common stock)
1) Number of shares issued and outstanding (including treasury stock) As of March 31, 2020: 73,017,952 As of March 31, 2019:73,017,952
2) Number of treasury stock
As of March 31, 2020: 7,682,005 As of March 31, 2019: 8,671,247
3) Average number of shares issued and outstanding in each period
Year ended March 31, 2020: 64,455,830 Year ended March 31, 2019: 64,287,771
(Reference) Overview of the non-consolidated business results
1. Non-consolidated financial results for the year ended March 31, 2020 (April 1, 2019– March 31, 2020)
(1) Non-consolidated operating results (Percentage figures represent changes from previous year.) Net sales Operating income Ordinary income Net income
Million yen % Million yen % Million yen % Million yen %
Year ended March 31, 2020 252,572 2.4 10,032 15.5 8,005 13.0 4,934 880.1
Year ended March 31, 2019 246,560 1.2 8,687 39.2 7,084 43.4 503 (84.7)
Net income per share Diluted net income per share
Yen Yen
Year ended March 31, 2020 76.56 75.91
Year ended March 31, 2019 7.83 7.81
2) Non-consolidated financial position
Total assets Net assets Equity ratio Net assets per share
Million yen Million yen % Yen
As of March 31, 2020 144,250 45,565 31.4 693.53
As of March 31, 2019 144,922 41,898 28.5 641.73 Reference: Shareholders’ equity: As of March 31, 2020: 45,312million yen As of March 31, 2019: 41,293 million yen
2. Forecast of non-consolidated financial results for the year ending March 31, 2021 (April 1, 2020– March 31, 2021)
As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender
Shares” on May 8, 2020, the Company is scheduled to become a wholly owned subsidiary of K.K. BCJ-44 (hereinafter the
“Tender Offeror”) as a result of a tender offer by the Tender Offeror for common shares outstanding (hereinafter the “Company’s
Shares”) and share acquisition rights of the Company (hereinafter the “Tender Offer”) and a series of subsequent transactions, and
the Company’s Shares are scheduled to be delisted. Therefore, the forecast of dividends for the fiscal year ending March 31, 2021
is not stated.
* Financial reports are not subject to audits by a certified public accountant or an audit corporation.
* Explanation concerning the appropriate use of financial result forecasts and other special notes (Note on forward-looking statements, etc.)
As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to Tender
Shares” on May 8, 2020, the Company is scheduled to become a wholly owned subsidiary of K.K. BCJ-44 (hereinafter the
“Tender Offeror”) as a result of a tender offer by the Tender Offeror for common shares outstanding (hereinafter the “Company’s
Shares”) and share acquisition rights of the Company (hereinafter the “Tender Offer”) and a series of subsequent transactions, and
the Company’s Shares are scheduled to be delisted. Therefore, the forecast of dividends for the fiscal year ending March 31, 2021
is not stated.
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○Table of Contents for the Attached Document
1. Overview of Business Results, Etc.………………………………………………………………………………………. 4
(1) Overview of business results………………………………………………………………………………………… 4
(2)Overview of financial position……………………………………………………………………………………… 7
(3) Overview of cash flows ……………………………………………………………………………… 7
(4) Basic principles of profit distribution and dividends for the fiscal year under review and the next fiscal year………. 8
2. Basic Approach to Selection of Accounting Standards……………………………………………………………………. 8
3. Consolidated Financial Statements and Major Notes……………………………………………………………………… 9
1. Each indicator was calculated from consolidated financial results.
2. Total present value of stock is the product of closing stock price at the end of period and the total number of outstanding
shares at the end of period (after deducting treasury stock).
3. Operating cash flow is equal to the cash flows from operating activities in the consolidated statements of cash flow.
Interest-bearing liabilities are all the liabilities on which interest is paid, out of the liabilities in the consolidated balance
sheet. Interest payments are the interest payments as shown in the consolidated statements of cash flow.
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(4) Basic principles of profit distribution and dividends for the fiscal year under review and the next fiscal year
Our basic policy is to provide our shareholders with stable and continuous profit distributions. Considering business
performance trends from a mid- to long-term standpoint, we formulated a consolidated dividend policy.
For the year ended March 31, 2019, we are planning to pay a year-end dividend of 20 yen per share. As announced in the press release “Notice Regarding Implementation of Management Buyout and Recommendation to
Tender Shares” on May 8, 2020, the Company is scheduled to become a wholly owned subsidiary of K.K. BCJ-44 (hereinafter
the “Tender Offeror”) as a result of a tender offer by the Tender Offeror for common shares outstanding (hereinafter the
“Company’s Shares”) and share acquisition rights of the Company (hereinafter the “Tender Offer”) and a series of subsequent
transactions, and the Company’s Shares are scheduled to be delisted. Therefore, the forecast of dividends for the fiscal year
ending March 31, 2021 is not stated.
2. Basic Approach to Selection of Accounting Standards
The Nichii Group adopts Japanese accounting standards to ensure comparability of financial statements between companies
and periods, and prepares its consolidated financial statements in accordance with Ordinance on Terminology, Forms, and
Preparation Methods of Consolidated Financial Statements (excluding Chapter 7 and Chapter 8) (Finance Ministry Ordinance
No. 28 of 1976).
We will examine the adoption of international financial reporting standards in light of the situation both inside and outside of
Japan.
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3. Consolidated Financial Statements and Major Notes
(1) Consolidated balance sheets
(in thousand yen)
Fiscal 2019
(As of March 31, 2019) Fiscal 2020
(As of March 31, 2020)
Assets
Current assets
Cash and deposits 18,255,916 18,520,613
Notes and accounts receivable—trade ※3 33,434,278 ※3 35,556,326
Short-term investment securities 256,310 317,586
Merchandise and finished goods 364,426 407,094
Work in progress 11,159 11,816
Raw materials and supplies 175,533 164,710
Other segments 13,291,468 12,870,395
Less: allowance for doubtful accounts (104,166) (98,624)
Total current assets 65,684,926 67,749,919
Fixed assets
Property, plant and equipment
Buildings and structures ※2 53,883,463 ※2 52,628,736