Worth reading
57In focus
Scored from 5 of 6 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
-13000
¥ millionWording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)2023年1月1日〜2023年6月30日ConsolidatedJapanese GAAPNet Sales263,250¥ millionYear on year -13.3%Progress 58.5%
Operating profit53,908¥ millionYear on year -33.4%Progress 77.0%
Ordinary income68,409¥ millionYear on year -25.7%Progress 73.6%
Net income attributable to owners of the parent50,378¥ millionYear on year -26.5%Progress 73.0%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share556.81円
Financial position at period-end
Total assets890,633¥ million
of which net assets 817,908 ¥ millionEquity ratio 91.7%vs. prior year-end +2.1pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+57,401
Investment-5,018
Financials-19,361
Net change+33,022
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥484,638 million
Segment revenueBicycle components ¥204,986 million (YoY -17.7%), Fishing tackle ¥58,027 million (YoY +7.0%), Other ¥236 million (YoY -4.9%)
Segment profitBicycle components ¥42,093 million (YoY -39.5%), Fishing tackle ¥11,843 million (YoY +4.5%), Other ¥-28 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥450,000 million (YoY -28.4%)
Operating profit¥70,000 million (YoY -58.6%)
Ordinary income¥93,000 million (YoY -47.3%)
Net income¥69,000 million (YoY -46.2%)
Revision to Earnings ForecastNet Sales ¥460,000 million → ¥450,000 million（-2.2%） / Operating profit ¥83,000 million → ¥70,000 million（-15.7%） / Ordinary income ¥96,500 million → ¥93,000 million（-3.6%） / Net income ¥69,500 million → ¥69,000 million（-0.7%）
Annual Dividend Forecast¥260 → ¥285
Shareholder Return Policy安定的な配当の維持・継続とともに、業績の進展に応じた成果の配分を行う。数値目標はNot disclosed。
Factors Behind Changes in Business Performance
自転車・釣具への需要が弱含み。自転車部品では市場在庫が高水準で推移し、欧州市場の春先の天候不順や北米市場の販売低迷、日本市場での円安による完成車価格高騰などが影響した。通期予想については、下期需要の回復遅れ、工場減産による製造原価率上昇の吸収難、ドル高に伴う営業外収益を要因としている。
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidation重要な子会社の異動は無。新規・除外の社数および社名はNot disclosed。
Impairment loss当第2四半期は計上なし（損益計算書の表示は「－」）
Breakdown of extraordinary income (loss)Costs related to rebuilding a factory ¥323 million
Depreciation and amortization¥11,526 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingHeld (対象者：Not disclosed)
Issued Shares at Period-End90,460,000
Treasury Shares at Period-End56,289
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 2023年1月1日〜2023年6月30日 |
| Net Sales | ¥263,250 million (YoY -13.3%) |
| Operating profit | ¥53,908 million (YoY -33.4%) |
| Ordinary income | ¥68,409 million (YoY -25.7%) |
| Profit attributable to owners of the parent | ¥50,378 million (YoY -26.5%) |
| Net income per share | 556.81円 |
| Equity ratio | End of the current fiscal period 91.7 / End of previous period 89.6 |
| Total assets | ¥890,633 million |
| Net assets | ¥817,908 million |
| Cash flows from operating activities | ¥57,401 million |
| Cash flows from investing activities | ¥-5,018 million |
| Cash flows from financing activities | ¥-19,361 million |
| Cash and cash equivalents at end of period | ¥484,638 million |
| Full-year earnings forecast | Net Sales ¥450,000 million (YoY -28.4%) / Operating profit ¥70,000 million (YoY -58.6%) / Ordinary income ¥93,000 million (YoY -47.3%) / Net income ¥69,000 million (YoY -46.2%) |
| Revision to Earnings Forecast | Net Sales ¥460,000 million → ¥450,000 million（-2.2%） / Operating profit ¥83,000 million → ¥70,000 million（-15.7%） / Ordinary income ¥96,500 million → ¥93,000 million（-3.6%） / Net income ¥69,500 million → ¥69,000 million（-0.7%） |
| Annual Dividend Forecast | ¥260 → ¥285 |
| Shareholder Return Policy | 安定的な配当の維持・継続とともに、業績の進展に応じた成果の配分を行う。数値目標はNot disclosed。 |
| Segment revenue | Bicycle components ¥204,986 million (YoY -17.7%), Fishing tackle ¥58,027 million (YoY +7.0%), Other ¥236 million (YoY -4.9%) |
| Segment profit | Bicycle components ¥42,093 million (YoY -39.5%), Fishing tackle ¥11,843 million (YoY +4.5%), Other ¥-28 million |
| Depreciation and amortization | ¥11,526 million |
| Impairment loss | 当第2四半期は計上なし（損益計算書の表示は「－」） |
| Breakdown of extraordinary income (loss) | Costs related to rebuilding a factory ¥323 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | 重要な子会社の異動は無。新規・除外の社数および社名はNot disclosed。 |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Held (対象者：Not disclosed) |
| Issued Shares at Period-End | 90,460,000 |
| Treasury Shares at Period-End | 56,289 |
| Factors Behind Changes in Business Performance | 自転車・釣具への需要が弱含み。自転車部品では市場在庫が高水準で推移し、欧州市場の春先の天候不順や北米市場の販売低迷、日本市場での円安による完成車価格高騰などが影響した。通期予想については、下期需要の回復遅れ、工場減産による製造原価率上昇の吸収難、ドル高に伴う営業外収益を要因としている。 |
Items this document does not state (5)
Operating MarginPayout ratioRegional salesOrders received and order backlogMaterial subsequent events
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.市場在庫が高水準で推移する中、欧州市場では春先の天候不順により店頭販売がスローな出だしとなり、下期需要の回復に遅れが生じる見込みとなったこと、工場の減産により製造原価率の上昇を吸収することが難しい状況にあること。一方、ドル高の進行に伴うアジア通貨安の影響から営業外収益が発生したこと。
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.