JP-listed companies
DAIWA INDUSTRIES LTD.

DAIWA INDUSTRIES LTD.JP:6459

Market cap

¥75.8B

P/E ratio

13.7x

Income statement Balance sheet Cash flow

	Dec 31, 2013	Dec 31, 2014	Dec 31, 2015	Dec 31, 2016	Dec 31, 2017	Dec 31, 2018	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023
Net sales of finished goods	21,362	22,999	25,782	27,148	27,307	28,204	27,385	26,953	29,010	22,697	24,817
Net sales of goods	4,785	5,638	6,619	6,579	6,777	7,707	8,672	8,701	10,557	11,706	11,318
Sales of service parts	3,047	3,098	3,263	3,426	3,599	3,740	3,893	3,965	4,240	9,356	9,675
Other sales	347	296	292	265	253	231	201	199	173	183	159
Net sales	29,540	32,031	35,956	37,419	37,936	39,882	40,150	39,818	43,979	43,943	45,969
Beginning finished goods inventory	1,101	1,351	1,458	1,332	1,547	1,723	1,819	1,945	1,505	1,059	1,428
Cost of products manufactured	8,149	8,442	9,466	10,281	10,521	10,598	10,032	10,305	11,289	10,502	11,390
Total	9,251	9,794	10,923	11,612	12,068	12,321	11,850	12,250	12,793	11,561	12,819
Transfer to other account	6	13	8	18	8	7	12	15	5	3	4
Ending finished goods inventory	1,351	1,458	1,332	1,547	1,723	1,819	1,945	1,505	1,059	1,428	2,499
Cost of finished goods sold	7,893	8,323	9,584	10,048	10,338	10,496	9,894	10,731	11,729	10,131	10,315
Beginning merchandise inventory	17	12	11	8	10	30	10	11	14	36	92
Cost of purchased goods	2,714	3,202	3,840	3,687	3,818	4,098	4,554	4,537	5,584	6,751	6,627
Total	2,732	3,214	3,851	3,695	3,828	4,127	4,565	4,548	5,597	6,787	6,718
Ending merchandise inventory	12	11	8	10	30	10	11	14	36	92	47
Cost of goods sold	2,720	3,203	3,843	3,685	3,798	4,117	4,554	4,534	5,561	6,695	6,672
Cost of service parts sold	1,043	1,108	1,222	1,275	1,331	1,391	1,526	1,542	1,786	2,612	2,767
Other costs	88	107	126	107	94	85	75	66	60	55	81
Cost of sales	11,744	12,742	14,775	15,115	15,561	16,090	16,049	16,873	19,136	19,492	19,835
Gross profit (loss)	17,796	19,290	21,181	22,304	22,375	23,792	24,101	22,945	24,843	24,451	26,134
Advertising expenses	45	69	94	89	125	157	164	142	129	119	118
Transportation and storage costs	1,340	1,397	1,565	1,681	1,746	1,946	2,109	2,107	2,190	2,107	2,134
Product warranty expenses	107	118	155	159	153	172	214	204	251	184	274
Provision for product warranties	130	136	155	164	165	169	171	178	209	163	200
Remuneration, salaries and allowances	6,312	6,904	7,575	8,315	8,631	8,868	8,878	8,690	9,165	8,462	8,711
Provision for bonuses	155	199	181	120	121	122	135	133	141	135	148
Provision for bonuses for directors (and other officers)	38	43	42	44	42	42	39	33	31	30	30
Provision for retirement benefits for directors (and other officers)	37	38	38	38	38	38	38	38	37	26	22
Welfare expenses	1,023	1,084	1,218	1,325	1,439	1,463	1,506	1,530	1,533	1,451	1,491
Travel and communication expenses	759	838	929	975	952	985	1,019	918	910	953	1,007
Supplies expenses	208	218	233	220	209	223	234	222	230	213	208
Rent expenses	711	745	791	820	853	862	880	888	901	907	943
Vehicle expenses	360	395	350	312	345	413	373	338	371	373	346
Depreciation	230	216	197	235	234	265	280	343	260	246	243
Other	1,164	1,367	1,489	1,619	1,904	2,032	2,095	2,141	2,218	2,095	2,121
Selling, general and administrative expenses	12,619	13,767	15,009	16,157	16,977	17,836	18,135	17,905	18,577	17,465	17,996
Operating profit (loss)	5,177	5,523	6,172	6,147	5,398	5,956	5,967	5,040	6,266	6,985	8,138
Interest income	15	17	22	19	13	14	12	11	13	14	15
Interest on securities	1	1	1	1	1	32	38	37	6	0	-
Dividend income	13	14	13	13	13	14	16	13	13	14	14
Compensation income	33	28	44	25	29	36	51	91	65	48	43
Gain on sale of scraps	71	74	71	64	65	64	38	11	23	29	26
Rental income from real estate	-	-	-	-	-	-	-	-	17	18	18
Miscellaneous income	46	54	66	60	47	52	89	60	75	28	32
Non-operating income	198	188	374	182	167	213	366	212	195	150	148
Compensation expenses	33	21	39	14	14	-	-	13	36	29	33
Loss on scrap sales	65	68	73	69	64	107	318	342	276	218	244
Miscellaneous losses	30	18	21	21	35	39	49	38	20	21	20
Non-operating expenses	129	107	132	104	99	322	366	380	333	269	296
Ordinary profit (loss)	5,246	5,604	6,414	6,225	5,467	5,847	5,966	4,872	6,128	6,867	7,990
Gain on sale of non-current assets	3	8	1	0	17	1	89	4	0	1	-
Extraordinary income	139	8	1	0	17	1	100	4	57	1	-
Loss on retirement of non-current assets	4	62	39	12	2	0	15	1	4	0	0
Extraordinary losses	6	62	39	75	2	62	16	176	940	0	0
Profit (loss) before income taxes	5,380	5,550	6,376	6,150	5,482	5,787	6,050	4,699	5,245	6,867	7,989
Income taxes - current	1,349	1,923	2,187	1,912	1,636	1,968	1,856	1,516	1,907	488	1,430
Income taxes - deferred	142	187	112	73	52	-55	123	49	-273	1,933	1,022
Income taxes	1,491	2,110	2,298	1,985	1,688	1,913	1,979	1,565	1,634	2,421	2,452
Profit (loss)	-	-	4,078	4,165	3,794	3,874	4,072	3,134	3,611	4,446	5,537