investments accounted for
using equity method 780 -
Purchases of other
investments (717) (2,511)
Proceeds from sales of other
investments 105 124
Payments for leasehold
deposits and guarantee
deposits (103) (69)
Proceeds from collection of
leasehold deposits and
guarantee deposits 150 68
Payments for refundable
insurance policies (75) (75)
Proceeds from subsidies - 38
Other 1 12
Cash flows from investing
activities (11,838) (18,386)
Cash flows from financing
activities
Proceeds from long-term
borrowings - 178
Repayment of long-term
borrowings (5,170) (1,515)
Net increase (decrease) in
short-term borrowings 1,480 (100)
Proceeds from other
financial liabilities 261 -
Payments of other financial
liabilities (19,983) (19,344)
Dividends paid (3,836) (4,901)
Other (48) (49)
Cash flows from financing
activities (27,296) (25,731)
---------------- ----------------
Effect of exchange rate
changes on cash and cash
equivalents 485 669
Net increase (decrease) in
cash and cash equivalents 4,924 (4,919)
Cash and cash equivalents,
beginning of the year 42,467 47,391
Cash and cash equivalents, end
of the year 47,391 42,472
================ ================
Notes to Condensed Consolidated Financial Statements (Unaudited)
Going Concern Assumption
Nothing to be reported.
Changes in Accounting Policies
Nothing to be reported.
Segment Information
IIJ and its subsidiaries (collectively "the Company") primarily operates its network service and system integration business, which provides a comprehensive range of network solutions to meet its customers' needs by cross-selling a variety of services, including Internet connectivity services, WAN services, outsourcing services, systems integration and sales of network-related equipment, and the ATM operation business. Therefore, the Company defined two reportable segments: "Network service and systems integration business" and "ATM operation business."
Segment information for the Company is as follows:
Fiscal year ended March 31,
2022
Reportable segments
----------------------
Network
service and
systems ATM
integration operation
business business Adjustments Consolidated
----------- --------- ------------- --------------
Millions of Millions Millions of Millions of
yen of yen yen yen
Revenue
Customers 223,551 2,784 226,335
Intersegment
transactions 127 (127)
----------- --------- -------- ----------
Total revenue 223,678 2,784 (127) 226,335
=========== ========= ======== ==========
Segment
operating
profit 22,799 834 (86) 23,547
=========== ========= ======== ==========
Finance
income 3,506
Finance
expense (556)
Share of profit
(loss) of
investments
accounted for
using the
equity method (2,335)
----------
Profit before
tax 24,162
==========
Fiscal year ended March 31,
2023
Reportable segments
----------------------
Network
service and
systems ATM
integration operation
business business Adjustments Consolidated
----------- --------- ------------- --------------
Millions of Millions Millions of Millions of
yen of yen yen yen
Revenue
Customers 249,866 2,842 252,708
Intersegment
transactions 104 (104)
----------- --------- -------- ----------
Total revenue 249,970 2,842 (104) 252,708
=========== ========= ======== ==========
Segment
operating
profit 26,322 919 (20) 27,221
=========== ========= ======== ==========
Finance
income 844
Finance
expense (552)
Share of profit
(loss) of
investments
accounted for
using the
equity method (204)
----------
Profit before
tax 27,309
==========
Intersegment transactions are based on market price. Substantially all revenues are from customers operating in Japan. Geographic information for revenues is not presented due to immateriality of revenue attributable to international operations. In addition, non-current assets (excluding financial instruments, deferred tax assets and assets related to retirement benefits) are not presented because substantially all non-current assets are located in Japan and non-current assets located overseas are not material.
Major customers information is not provided because there is no single external customer that accounts for 10% or more of the Company's revenue.
Earnings per share
Basic earnings per share attributable to owners of the parent and diluted earnings per share attributable to owners of the parent for the years ended March 31, 2022 and 2023 were as follows:
For the year ended For the year ended
March 31, 2022 March 31, 2023
------------------ ------------------
Numerator
Basic earnings attributable to
owners of the parent (millions of
yen) 15,672 18,838
Denominator
Weighted average number of shares
_ basic (shares) 180,592,178 180,683,190
Dilution arising from stock
options (shares) 861,626 892,705
---------------------------------- ------------------ ------------------
Weighted average number of shares
_ diluted (shares) 181,453,804 181,575,895
Earnings per share attributable
to owners of the parent
Basic (yen) 86.78 104.26
Diluted (yen) 86.37 103.75
Stock split
IIJ conducted a stock split at a ratio of two-for-one with an effective date of January October 1, 2022. Accordingly, basic earnings per share and diluted earnings per share have been calculated as if the stock split had been conducted at the beginning of the previous consolidated fiscal year.
Subsequent Events
Nothing to be reported.
Note: The following information is provided to disclose Internet Initiative Japan Inc. ("IIJ") financial results (unaudited) for the fiscal year ended March 31, 2023 ("FY2022") in the form defined by the Tokyo Stock Exchange.
Consolidated Financial Results for the Fiscal Year ended March 31, 2023 [Under IFRS]
May 12, 2023
Company name: Internet Initiative Japan Inc.
Exchange listed: Tokyo Stock Exchange
Ticker symbol: 3774
URL: https://www.iij.ad.jp/
Representative: Eijiro Katsu, President and Representative Director
Contact: Akihisa Watai, Senior Managing Director and CFO
TEL: (03) 5205-6500
Scheduled date for annual general shareholders' meeting: June 28, 2023
Scheduled date for dividend payment: June 29, 2023
Scheduled date for filing of annual securities report (Yuka-shoken-houkokusho) to Japan's regulatory organization: June 30, 2023
Supplemental material on annual results: Yes
Presentation on annual results: Yes (for institutional investors and analysts)
(Amounts of less than JPY one million are rounded)
1. Consolidated Financial Results for the Fiscal Year ended March 31, 2023 (April 1, 2022 to March 31, 2023)
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