F.C.C. (7296) Q4 2021 earnings summary

Executive summary

• FY ended Mar. 31, 2021 revenue fell 14.6% YoY to ¥146.2bn and operating profit fell 11.8% to ¥7.0bn; profit rose 15.3% to ¥4.6bn.

• Cash and cash equivalents rose to ¥39.6bn from ¥35.4bn; total assets were ¥175.6bn and equity attributable to owners of parent was ¥130.2bn.

Financial highlights

• Gross profit was ¥22.9bn versus ¥28.1bn; operating profit was ¥7.0bn versus ¥7.9bn.

• Profit before income taxes increased 25.0% YoY to ¥8.3bn; profit attributable to owners of parent rose 13.8% to ¥4.5bn; basic EPS was ¥89.81 versus ¥78.92.

• Operating cash flow was ¥13.0bn versus ¥25.1bn; investing cash flow was -¥8.5bn versus -¥10.6bn, and financing cash flow was -¥3.2bn versus -¥9.0bn.

Outlook and guidance

• FY ending Mar. 31, 2022 forecast: revenue ¥168.0bn (+14.9%), operating profit ¥13.5bn (+93.8%), profit before tax ¥14.0bn (+68.4%), and profit attributable to owners of parent ¥9.5bn (+112.9%).

• FY22 forecast basic EPS was ¥191.19; six months ending Sep. 30, 2021 forecast revenue was ¥83.0bn, operating profit ¥6.0bn, profit before tax ¥6.2bn, and attributable profit ¥4.0bn.