What this is
Why the Tokyo parent’s total assets jumped by ¥27.7bn in the year to February 2017: about 57% retained profit and 43% new liabilities.
How it’s built
- From official gazette figures: total assets rose from ¥16.1bn to ¥43.8bn; net assets rose ¥15.9bn, almost all that year’s profit; liabilities rose ¥11.8bn.
- A subsidiary merger could add at most ¥0.58bn, about 2% of the jump.
What we assumed
- The new liabilities were mostly year-end taxes and payables on the Pokémon GO-year profit.Liabilities fell sharply the following year (filed: down ¥9.7bn), as expected if they were paid then.
- The merger adds at most the absorbed company’s total assets.Absorbing a wholly owned subsidiary swaps the share investment for its assets; it took effect in the next year anyway.
Sanity check
Later filed figures confirm next year’s liabilities at ¥7.48bn, close to the ¥7.49bn estimated here.
Where it comes from
Our calculation from other figures in the trainer’s notes.
Show the working
- Delta TA: 27,693
- Delta NA: 15,858
- Delta L: 11,834
- Net profit year to February 2017: 15,921
- Treasury stock new: -68
- Merger upper bound assets: 580
- ΔTA = 43,795 - 16,102 = 27,693 = ΔNA (26,625 - 10,767 = 15,858) + ΔL (17,168 - 5,334 = 11,834). ΔNA = NI 15,921 - new treasury stock 68 + ≈5 valuation
- Profit retention therefore explains 57% of..
Where it’s used
Related figures
Built from this one