流動負債は10,155百万円（同950百万円減）となった。主な変動要因は、仕入債務（電子記録債務含む）の減少407百万円、1年内返済予定の長期借入金の増加211百万円、未払金の減少1,092百万円である。固定負債は6,865百万円（同66百万円減）となった。主に長期借入金の減少356百万円、リース債務の増加307百万円による。純資産は10,930百万円（同1,409百万円増）となった。主に親会社株主に帰属する当期純利益の計上による利益剰余金の増加898百万円、為替換算調整勘定の増加297百万円などによる。この結果、2024年3月期末の自己資本比率は33.1%となり、前期末の28.8%から4.3ポイント上昇した。財務内容は着実に改善しつつあると言える。Performance trends for Tensho Electric Industry <6776>.
2. Financial and Cash Flow Status As of the end of March 2024, the financial status is as follows. Current assets decreased by 320 million yen compared to the end of the previous period, totaling 12,762 million yen. For major items, cash and deposits decreased by 312 million yen compared to the end of the previous period, while notes and accounts receivable (including electronic record debt) increased by the same 50 million yen, and accrued sales decreased by 130 million yen. Fixed assets totaled 15,189 million yen (an increase of 713 million yen). Tangible fixed assets increased by 503 million yen, intangible fixed assets by 74 million yen, and investments and other assets by the same 135 million yen. As a result, total assets increased by 392 million yen to 27,951 million yen. Current liabilities decreased to 1,095.5 million yen (a decrease of 950 million yen). The main factors contributing to this change were a decrease of 407 million yen in accounts payable (including electronic debt), an increase of 211 million yen in long-term loans due within one year, and a decrease of 1,092 million yen in accounts payable. Fixed liabilities totaled 686.5 million yen (a decrease of 66 million yen), mainly due to a decrease of 356 million yen in long-term loans and an increase of 307 million yen in lease liabilities. Net assets totaled 1,093 million yen (an increase of 1,409 million yen), mainly due to an increase of 898 million yen in retained earnings resulting from net income attributable to parent company shareholders and an increase of 297 million yen in foreign currency translation adjustment account. As a result, the self-capital ratio as of the end of March 2024 was 33.1%, up 4.3 points from the previous period's 28.8%. It can be said that the financial situation is steadily improving. In addition, the cash flow from operating activities for the fiscal year ending March 2024 was an income of 2,634 million yen. The main income was 1,417 million yen for net income before tax adjustment, and 2,233 million yen for depreciation and amortization expenses. The main expenses were an increase of 6 million yen in notes and accounts receivable, an increase of 89 million yen in accrued sales, and a decrease of 460 million yen in accounts payable. Cash flow from investment activities was an expenditure of 2,688 million yen, mainly due to an expenditure of 2,733 million yen for the acquisition of tangible fixed assets. Cash flow from financing activities was an expenditure of 622 million yen, mainly due to a decrease of 381 million yen in long-term loans and a repayment of 189 million yen in lease liabilities. As a result, cash and cash equivalents decreased by 312 million yen, and the balance at the end of March 2024 was 5,258 million yen. Therefore, the free cash flow (operating cash flow - investment cash flow) decreased by 54 million yen (compared to a decrease of 1,529 million yen in the previous period) and was almost in equilibrium. It is expected that free cash flow will eventually turn positive, as facility investments return to normal levels in the future.
As of March 2024, the financial situation is as follows. Current assets decreased by 320 million yen compared to the end of the previous period, totaling 12,762 million yen. For major items, cash and deposits decreased by 312 million yen compared to the end of the previous period, while notes and accounts receivable (including electronic record debt) increased by the same 50 million yen, and accrued sales decreased by 130 million yen. Fixed assets totaled 15,189 million yen (an increase of 713 million yen). Tangible fixed assets increased by 503 million yen, intangible fixed assets by 74 million yen, and investments and other assets by the same 135 million yen. As a result, total assets increased by 392 million yen to 27,951 million yen. Current liabilities decreased to 1,095.5 million yen (a decrease of 950 million yen). The main factors contributing to this change were a decrease of 407 million yen in accounts payable (including electronic debt), an increase of 211 million yen in long-term loans due within one year, and a decrease of 1,092 million yen in accounts payable. Fixed liabilities totaled 686.5 million yen (a decrease of 66 million yen), mainly due to a decrease of 356 million yen in long-term loans and an increase of 307 million yen in lease liabilities. Net assets totaled 1,093 million yen (an increase of 1,409 million yen), mainly due to an increase of 898 million yen in retained earnings resulting from net income attributable to parent company shareholders and an increase of 297 million yen in foreign currency translation adjustment account. As a result, the self-capital ratio as of the end of March 2024 was 33.1%, up 4.3 points from the previous period's 28.8%. It can be said that the financial situation is steadily improving. Cash flow from operating activities for the fiscal year ending March 2024 was an income of 2,634 million yen. The main income was 1,417 million yen for net income before tax adjustment, and 2,233 million yen for depreciation and amortization expenses. The main expenses were an increase of 6 million yen in notes and accounts receivable, an increase of 89 million yen in accrued sales, and a decrease of 460 million yen in accounts payable. Cash flow from investment activities was an expenditure of 2,688 million yen, mainly due to an expenditure of 2,733 million yen for the acquisition of tangible fixed assets. Cash flow from financing activities was an expenditure of 622 million yen, mainly due to a decrease of 381 million yen in long-term loans and a repayment of 189 million yen in lease liabilities. As a result, cash and cash equivalents decreased by 312 million yen, and the balance at the end of March 2024 was 5,258 million yen. Therefore, the free cash flow (operating cash flow - investment cash flow) decreased by 54 million yen (compared to a decrease of 1,529 million yen in the previous period) and was almost in equilibrium. It is expected that free cash flow will eventually turn positive, as facility investments return to normal levels in the future.
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In addition, the cash flow from operating activities for the fiscal year ending March 2024 was an income of 2,634 million yen. The main income was 1,417 million yen for net income before tax adjustment, and 2,233 million yen for depreciation and amortization expenses. The main expenses were an increase of 6 million yen in notes and accounts receivable, an increase of 89 million yen in accrued sales, and a decrease of 460 million yen in accounts payable. Cash flow from investment activities was an expenditure of 2,688 million yen, mainly due to an expenditure of 2,733 million yen for the acquisition of tangible fixed assets. Cash flow from financing activities was an expenditure of 622 million yen, mainly due to a decrease of 381 million yen in long-term loans and a repayment of 189 million yen in lease liabilities. As a result, cash and cash equivalents decreased by 312 million yen, and the balance at the end of March 2024 was 5,258 million yen.
As a result, the free cash flow (operating cash flow - investment cash flow) decreased by 54 million yen (compared to a decrease of 1,529 million yen in the previous period) and was almost in equilibrium. It is expected that free cash flow will eventually turn positive, as facility investments return to normal levels in the future.
(Written by FISCO guest analyst Noboru Terashima)
