Maruwa Co Ld - Final Results

Maruwa Co

29/04/2016 07:28

RNS Number : 7775W

Maruwa Co Ld

29 April 2016

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2016
(Based on Japanese GAAP)
April 28, 2016
Company name:
MARUWA CO., LTD.
Stock exchange listing:
Tokyo, Nagoya
Stock code:
5344
URL http://www.maruwa-g.com/
Representative:
President and Representative Director
Sei Kanbe
Inquiries:
Director, General Manager of Administrative Division
Tetsuya Nagamitsu
TEL 0561-51-0839
Scheduled date of ordinary general meeting of shareholders:
June 23, 2016
Scheduled date to file Securities Report:
June 24, 2016
Scheduled date to commence dividend payments:
June 24, 2016
Preparation of supplementary material on financial results:
No
Holding of financial results meeting:
No


(Amounts are rounded off to the nearest million yen)

1. Consolidated financial results for the year ended March 31, 2016 (from April 1, 2015 to March 31, 2016)

(1) Consolidated operating results
Percentages indicate year-on-year changes

Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Year ended March 31, 2016
30,578
(6.8)
3,812
58.6
3,702
30.3
2,287
158.7
Year ended March 31, 2015
32,811
(2.0)
2,404
(28.2)
2,841
(22.1)
884
(65.8)

Earnings per share
Diluted earnings per share
Profit attributable to owners of parent/equity
Ordinary income/total assets
Operating income/net sales
Yen
Yen
%
%
%
Year ended March 31, 2016
185.18
185.17
5.5
7.6
12.5
Year ended March 31, 2015
71.59
71.58
2.2
5.7
7.3

(2) Consolidated financial position

Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
As of March 31, 2016
48,474
41,700
86.0
3,376.42
As of March 31, 2015
49,445
41,000
82.9
3,319.58

(3) Consolidated cash flows

Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Year ended March 31, 2016
4,154
(1,675)
(1,406)
14,541
Year ended March 31, 2015
3,688
(1,881)
(877)
13,684

2. Cash dividends

Annual dividends per share
Total cash dividends (Total)
Dividend payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Year ended March 31, 2015
-
18.00
-
18.00
36.00
445
50.3
1.1
Year ended March 31, 2016
-
19.00
-
19.00
38.00
469
20.5
1.1
Year ending March 31, 2017
(Forecast)
-
20.00
-
20.00
40.00
17.3


3. Forecast of consolidated financial results for the year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)

Percentages indicate year-on-year changes

Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Earnings per share
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Yen
Six months ending
September 30, 2016
14,200
(2.5)
1,600
8.7
1,650
14.0
1,050
23.2
85.02
Full year
31,200
2.0
4,350
14.1
4,450
20.2
2,850
24.6
230.77

4. Notes

(1) Changes in significant subsidiaries during the year ended March 31, 2016
(changes in specified subsidiaries resulting in the change in scope of consolidation):
Yes

(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
No
Changes in accounting estimates:
No
Restatement of prior period financial statements:
No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2016
12,372,000
shares
As of March 31, 2015
12,372,000
shares

Number of treasury shares at the end of the period

As of March 31, 2016
22,033
shares
As of March 31, 2015
21,983
shares

Average number of shares during the period

Year ended March 31, 2016
12,350,001
shares
Year ended March 31, 2015
12,350,052
shares

Consolidated financial statements

Consolidated balance sheets

(Thousands of yen)
As of March 31, 2015
As of March 31, 2016
Assets
Current assets
Cash and deposits
14,224,593
15,379,533
Notes and accounts receivable - trade
8,491,300
8,042,230
Electronically recorded monetary claims - operating
439,199
572,146
Merchandise and finished goods
2,170,099
2,489,838
Work in process
1,864,301
1,702,316
Raw materials and supplies
3,097,696
3,095,281
Deferred tax assets
319,540
285,439
Other
811,100
833,428
Allowance for doubtful accounts
(11,420)
(1,990)
Total current assets
31,406,408
32,398,221
Non-current assets
Property, plant and equipment
Buildings and structures
9,941,584
10,078,873
Accumulated depreciation
(5,306,942)
(5,519,695)
Buildings and structures, net
4,634,642
4,559,178
Machinery, equipment and vehicles
18,005,004
18,712,379
Accumulated depreciation
(13,486,127)
(13,799,300)
Machinery, equipment and vehicles, net
4,518,878
4,913,079
Land
3,518,446
3,503,763
Construction in progress
1,786,282
276,133
Other
3,514,181
3,553,267
Accumulated depreciation
(2,980,477)
(3,007,107)
Other, net
533,704
546,160
Total property, plant and equipment
14,991,951
13,798,312
Intangible assets
Goodwill
426,091
135,905
Other
450,485
433,269
Total intangible assets
876,575
569,174
Investments and other assets
Investment securities
432,336
214,656
Deferred tax assets
272,254
20,722
Real estate for investment
1,003,155
1,023,527
Buildings and structures
624,499
662,939
Accumulated depreciation
(326,734)
(342,336)
Buildings and structures, net
297,765
320,604
Land
688,833
688,833
Other
42,204
42,204
Accumulated depreciation
(25,647)
(28,114)
Other, net
16,557
14,090
Other
481,772
467,496
Allowance for doubtful accounts
(19,243)
(18,167)
Total investments and other assets
2,170,275
1,708,234
Total non-current assets
18,038,802
16,075,721
Total assets
49,445,209
48,473,941

(Thousands of yen)
As of March 31, 2015
As of March 31, 2016
Liabilities
Current liabilities
Notes and accounts payable - trade
3,989,435
3,068,282
Current portion of long-term loans payable
992,576
137,984
Income taxes payable
393,528
589,934
Provision for bonuses
458,819
503,850
Provision for directors' bonuses
4,750
23,750
Notes payable - facilities
184,241
169,681
Other
1,690,996
1,824,564
Total current liabilities
7,714,345
6,318,045
Non-current liabilities
Long-term loans payable
253,393
115,409
Deferred tax liabilities
-
1,139
Provision for environmental measures
26,256
13,527
Other
451,317
325,379
Total non-current liabilities
730,966
455,453
Total liabilities
8,445,311
6,773,498
Net assets
Shareholders' equity
Capital stock
8,646,720
8,646,720
Capital surplus
11,946,793
11,946,793
Retained earnings
19,824,325
21,654,339
Treasury shares
(46,922)
(47,072)
Total shareholders' equity
40,370,916
42,200,781
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
130,601
53,057
Foreign currency translation adjustment
495,314
(555,170)
Total accumulated other comprehensive income
625,915
(502,113)
Subscription rights to shares
1,775
1,775
Non-controlling interests
1,293
-
Total net assets
40,999,898
41,700,443
Total liabilities and net assets
49,445,209
48,473,941

Consolidated statements of income and consolidated statements of comprehensive income

Consolidated statements of income

(Thousands of yen)
Fiscal year ended
March 31, 2015
Fiscal year ended
March 31, 2016
Net sales
32,810,623
30,578,092
Cost of sales
22,983,315
19,594,309
Gross profit
9,827,308
10,983,783
Selling, general and administrative expenses
7,422,922
7,171,349
Operating income
2,404,387
3,812,434
Non-operating income
Interest income
56,268
50,853
Rent income
89,993
105,614
Foreign exchange gains
283,353
-
Other
72,226
63,210
Total non-operating income
501,840
219,677
Non-operating expenses
Interest expenses
13,548
5,267
Foreign exchange losses
-
245,869
Rent expenses on real estate for investments
37,622
38,954
Other
14,352
40,225
Total non-operating expenses
65,523
330,315
Ordinary income
2,840,703
3,701,796
Extraordinary income
Gain on sales of non-current assets
1,236
3,633
Gain on sales of investment securities
26,584
-
Subsidy income
755,000
-
Total extraordinary income
782,820
3,633
Extraordinary losses
Loss on sales and retirement of non-current assets
35,970
28,357
Loss on reduction of non-current assets
738,327
-
Loss on sales of investment securities
-
6,816
Loss on valuation of shares of subsidiaries and associates
-
18,940
Impairment loss
949,949
-
Other
152,925
5,900
Total extraordinary losses
1,877,171
60,013
Profit before income taxes
1,746,352
3,645,416
Income taxes - current
987,068
1,068,997
Income taxes - deferred
(124,978)
289,454
Total income taxes
862,090
1,358,451
Profit
884,262
2,286,965
Profit attributable to non-controlling interests
135
(0)
Profit attributable to owners of parent
884,127
2,286,965

Consolidated statements of comprehensive income

(Thousands of yen)
Fiscal year ended
March 31, 2015
Fiscal year ended
March 31, 2016
Profit
884,262
2,286,965
Other comprehensive income
Valuation difference on available-for-sale securities
82,494
(77,544)
Foreign currency translation adjustment
449,909
(1,050,483)
Total other comprehensive income
532,403
(1,128,028)
Comprehensive income
1,416,665
1,158,937
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
1,416,530
1,158,938
Comprehensive income attributable to non-controlling interests
135
(0)

Consolidated statements of changes in equity

Fiscal year ended March 31, 2015

(Thousands of yen)
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of current period
8,646,720
11,946,793
19,372,451
(46,551)
39,919,414
Changes of items during period
Dividends of surplus
(432,253)
(432,253)
Profit attributable to owners of parent
884,127
884,127
Purchase of treasury shares
(372)
(372)
Disposal of treasury shares
-
Net changes of items other than shareholders' equity
Total changes of items during period
-
-
451,874
(372)
451,502
Balance at end of current period
8,646,720
11,946,793
19,824,325
(46,922)
40,370,916

Accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Balance at beginning of current period
48,107
45,405
93,512
1,775
1,158
40,015,859
Changes of items during period
Dividends of surplus
(432,253)
Profit attributable to owners of parent
884,127
Purchase of treasury shares
(372)
Disposal of treasury shares
-
Net changes of items other than shareholders' equity
82,494
449,909
532,403
135
532,538
Total changes of items during period
82,494
449,909
532,403
-
135
984,040
Balance at end of current period
130,601
495,314
625,915
1,775
1,293
40,999,898

Fiscal year ended March 31, 2016

(Thousands of yen)
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Balance at beginning of current period
8,646,720
11,946,793
19,824,325
(46,922)
40,370,916
Changes of items during period
Dividends of surplus
(456,951)
(456,951)
Profit attributable to owners of parent
2,286,965
2,286,965
Purchase of treasury shares
(149)
(149)
Disposal of treasury shares
Net changes of items other than shareholders' equity
Total changes of items during period
1,830,015
(149)
1,829,865
Balance at end of current period
8,646,720
11,946,793
21,654,339
(47,072)
42,200,781

Accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Balance at beginning of current period
130,601
495,314
625,915
1,775
1,293
40,999,898
Changes of items during period
Dividends of surplus
(456,951)
Profit attributable to owners of parent
2,286,965
Purchase of treasury shares
(149)
Disposal of treasury shares
Net changes of items other than shareholders' equity
(77,544)
(1,050,483)
(1,128,028)
(1,293)
(1,129,321)
Total changes of items during period
(77,544)
(1,050,483)
(1,128,028)
(1,293)
700,545
Balance at end of current period
53,057
(555,170)
(502,113)
1,775
-
41,700,443

Consolidated statements of cash flows

(Thousands of yen)
Fiscal year ended
March 31, 2015
Fiscal year ended
March 31, 2016
Cash flows from operating activities
Profit before income taxes
1,746,352
3,645,416
Depreciation
2,137,169
1,903,292
Impairment loss
949,949
-
Amortization of goodwill
290,185
290,185
Increase (decrease) in allowance for doubtful accounts
(4,406)
(6,244)
Loss on valuation of shares of subsidiaries and associates
-
18,940
Increase (decrease) in provision for environmental measures
-
(12,730)
Loss (gain) on sales of investment securities
(26,584)
6,816
Loss (gain) on sales and retirement of non-current assets
34,735
24,724
Loss on reduction of non-current assets
738,327
-
Interest and dividend income
(59,943)
(63,300)
Foreign exchange losses (gains)
(98,511)
264,023
Decrease (increase) in notes and accounts receivable - trade
396,906
95,205
Decrease (increase) in inventories
(1,049,050)
(418,729)
Increase (decrease) in notes and accounts payable - trade
299,267
(873,176)
Other, net
(222,123)
97,409
Subtotal
5,132,273
4,971,833
Interest and dividend income received
60,440
63,124
Interest expenses paid
(14,033)
(4,786)
Income taxes paid
(1,490,957)
(876,570)
Net cash provided by (used in) operating activities
3,687,723
4,153,600
Cash flows from investing activities
Payments into time deposits
(313,612)
(417,600)
Proceeds from withdrawal of time deposits
717,695
43,877
Purchase of property, plant and equipment
(2,138,871)
(1,342,585)
Proceeds from sales of property, plant and equipment
14,102
7,485
Purchase of investment securities
(206,770)
(3,745)
Proceeds from sales of investment securities
167,104
95,980
Purchase of intangible assets
(69,133)
(50,147)
Purchase of long-term prepaid expenses
-
(1,500)
Other, net
(51,873)
(6,835)
Net cash provided by (used in) investing activities
(1,881,358)
(1,675,070)
Cash flows from financing activities
Repayments of long-term loans payable
(444,684)
(947,648)
Purchase of treasury shares
(372)
(149)
Cash dividends paid
(432,253)
(456,951)
Dividends paid to non-controlling interests
-
(1,233)
Net cash provided by (used in) financing activities
(877,309)
(1,405,982)
Effect of exchange rate change on cash and cash equivalents
247,254
(222,485)
Net increase (decrease) in cash and cash equivalents
1,176,310
850,063
Cash and cash equivalents at beginning of period
12,507,198
13,683,508
Increase in cash and cash equivalents from newly consolidated subsidiary
-
7,000
Cash and cash equivalents at end of period
13,683,508
14,540,571

This information is provided by RNS

The company news service from the London Stock Exchange

  END

FR QKLBLQZFLBBL