負債合計は前期末比585百万円増加の10,197百万円となった。未払法人税等が207百万円減少した一方で、未払金が568百万円、契約負債が186百万円それぞれ増加した。純資産は同2,723百万円増加の11,208百万円となった。配当金1,538百万円を支出した一方で、親会社株主に帰属する中間純利益893百万円を計上したほか、第三者割当増資等により資本金が1,700百万円、資本剰余金が1,708百万円増加した。Performance trends of Risoh Education <4714>
3. Financial position
Looking at the financial situation at the end of the second quarter of the fiscal year ending February 2025, the total assets increased by ¥3,309 million compared to the previous year-end to ¥21,406 million, mainly due to raising ¥3,383 million through third-party allocation of shares. The main fluctuation factors include an increase of ¥4,715 million in cash and deposits in current assets, while operating advance receipts decreased by ¥1,567 million. Fixed assets increased by ¥151 million in tangible fixed assets due to the opening of new school buildings and relocation renovations, and by ¥81 million in security deposits and guarantees. Additionally, investment securities decreased by ¥160 million due to the sale of shares in the parent company.
Total liabilities increased by ¥585 million compared to the previous year-end, reaching ¥10,197 million. While corporate income tax payables decreased by ¥207 million, trade payables and contract liabilities increased by ¥568 million and ¥186 million, respectively. Net assets increased by ¥2,723 million to ¥11,208 million. Dividends of ¥1,538 million were paid out, while an interim net profit attributable to parent company shareholders of ¥893 million was recorded. In addition, capital increased by ¥1,700 million and capital surplus increased by ¥1,708 million due to third-party share allocations among other factors.
Looking at key management indicators, the equity ratio increased from 46.3% at the end of the previous period to 52.0% with the help of third-party share allocations. Operating without debt and having cash on hand exceeding ¥10 billion, the financial foundation has been further strengthened. The funds raised through third-party share allocations are planned to be allocated towards new projects, such as the establishment of the 'Kodomo Depot' (facility investment for opening new classrooms including security deposits, classroom equipment, initial investment costs), and the establishment of a creative cultural education facility within the 'MIYAKE Link Park (Shibuya)' to be opened by the Hulic Group in 2026 (art gallery, library, etc.), as well as expenses to drive the DX strategy (costs for integrating customer databases of each group, application development for customer interactions, classroom network infrastructure costs, etc.). For the equipment investment funds for 'Kodomo Depot,' out of the total planned investment of ¥2,291 million for 10 buildings expected to open by spring 2028 (including under consideration), an amount of ¥1,000 million that has already been raised is deducted.
* Hulic has been selected as the developer for the 'Urban Regeneration Step-up Project (Shibuya Area) Shibuya 1-chome Area Joint Development Project' conducted by the Tokyo Metropolitan Government and Shibuya Ward, and is proceeding with the development of an underground 2-story, above ground 14-story complex building (site area: 9,670 square meters, total floor area: 50,000 square meters). Offices, stores, rental housing, creative cultural education facilities, multipurpose halls, and more are expected to be included.
(Written by FISCO guest analyst, Jo Sato)
