■Performance Trends

2. financial situation

The total assets of Nippon Washo Holdings ＜2499＞ at the end of the 2023/12 fiscal year increased by 407 million yen from the end of the previous fiscal year to 9,210 million yen. The main factors were a decrease of 138 million yen in cash and deposits, and an increase of 544 million yen in unearned operating income and installment accounts receivable. Of these, installment accounts receivable are the balance of transactions where the subsidiary Nichikure Co., Ltd. mediated installment sales when the merchant sold it to the customer.

Total liabilities increased by 348 million yen from the end of the previous fiscal year to 5,754 million yen. The main factors were an increase of 389 million yen in short-term loans, an increase of 58 million yen in contract liabilities (advance payments), and a decrease of 205 million yen in long-term loans.

Total net assets increased 58 million yen from the end of the previous fiscal year to 3,456 million yen. The main reason for the increase was an increase of 54 million yen in retained earnings due to the recording of net income attributable to parent company shareholders. As a result, the capital adequacy ratio at the end of the 2023/12 fiscal year fell 1.1 points from the end of the previous fiscal year to 37.5%.

3. Cash flow situation

Cash flow from operating activities for the fiscal year ended 2023/12 was an expenditure of 179 million yen. The main income was net income before tax adjustments of 298 million yen, depreciation and amortization expenses of 27 million yen, increase in contract liabilities of 58 million yen, etc., and the main expenses were an increase of 449 million yen in installment accounts receivable, an increase of 94 million yen in unearned operating income, etc. Cash flow from investment activities was 25 million yen of expenditure, mainly 6 million yen of expenditure due to acquisition of tangible fixed assets, 16 million yen of expenditure due to acquisition of intangible fixed assets, etc. Cash flow from financial activities was income of 65 million yen, but the main income was an increase of 270 million yen in short-term loans, and the main expenses were dividend payments of 117 million yen, etc.

As a result, cash and cash equivalents during the period decreased by 140 million yen, and the balance at the end of the 2023/12 fiscal year ended to 2,451 million yen.

(Written by FISCO Visiting Analyst Noboru Terashima)