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 Six Months Ended September 30, 2016 (Based on Japanese GAAP)
October 31, 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:
General Manager of Administrative Division
Tamaki Nozoki
TEL 0561-51-0839
Scheduled date to file Quarterly Securities Report:
November 10, 2016
Scheduled date to commence dividend payments:
December 9, 2016
Preparation of supplementary material on quarterly financial results:
No
Holding of quarterly financial results meeting:
No
(Amounts are rounded off to the nearest million yen)
1. Consolidated financial results for the six months ended September 30, 2016 (from April 1, 2016 to September 30, 2016)
(1) Consolidated operating results (cumulative)
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
%
Six months ended September 30, 2016
15,160
4.1
2,305
56.6
2,027
40.1
1,152
35.2
Six months ended September 30, 2015
14,564
(7.9)
1,472
15.8
1,447
(4.0)
852
12.7
Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2016
93.27
93.27
Six months ended September 30, 2015
68.99
68.99
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2016
47,756
41,421
86.7
As of March 31, 2016
48,550
41,700
85.9
2. Cash dividends
Annual dividends per share
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Year ended March 31, 2016
-
19.00
-
19.00
38.00
Year ending March 31, 2017
-
20.00
Year ending March 31, 2017 (Forecast)
-
20.00
40.00
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
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 six months ended September 30, 2016 (changes in specified subsidiaries resulting in the change in scope of consolidation):
No
(2) Application of special accounting methods for preparing quarterly consolidated financial statements:
No
(3) 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
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2016
12,372,000
shares
As of March 31, 2016
12,372,000
shares
Number of treasury shares at the end of the period
As of September 30, 2016
19,629
shares
As of March 31, 2016
22,033
shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Electronically recorded monetary claims - operating
572,146
407,631
Merchandise and finished goods
2,489,838
2,319,053
Work in process
1,702,316
1,640,971
Raw materials and supplies
3,095,281
3,153,067
Deferred tax assets
285,439
325,884
Other
833,428
567,722
Allowance for doubtful accounts
(1,990)
(40,620)
Total current assets
32,398,221
32,347,191
Non-current assets
Property, plant and equipment
Buildings and structures
10,078,873
9,790,713
Accumulated depreciation
(5,519,695)
(5,527,890)
Buildings and structures, net
4,559,178
4,262,822
Machinery, equipment and vehicles
18,712,379
17,762,751
Accumulated depreciation
(13,799,300)
(13,475,002)
Machinery, equipment and vehicles, net
4,913,079
4,287,749
Land
3,503,763
3,660,780
Construction in progress
276,133
558,953
Other
3,553,267
3,394,691
Accumulated depreciation
(3,007,107)
(2,878,849)
Other, net
546,160
515,842
Total property, plant and equipment
13,798,312
13,286,146
Intangible assets
Goodwill
135,905
34,568
Other
433,269
279,226
Total intangible assets
569,174
313,793
Investments and other assets
1,784,068
1,809,217
Total non-current assets
16,151,555
15,409,156
Total assets
48,549,776
47,756,347
(Thousands of yen)
As of March 31, 2016
As of September 30, 2016
Liabilities
Current liabilities
Notes and accounts payable - trade
3,068,282
2,839,348
Current portion of long-term loans payable
137,984
89,500
Income taxes payable
589,934
693,837
Provision for bonuses
503,850
476,119
Provision for directors' bonuses
23,750
5,500
Notes payable - facilities
169,681
208,832
Other
1,824,564
1,561,415
Total current liabilities
6,318,045
5,874,551
Non-current liabilities
Long-term loans payable
115,409
-
Deferred tax liabilities
76,973
126,325
Provision for environmental measures
13,527
13,527
Other
325,379
320,722
Total non-current liabilities
531,288
460,573
Total liabilities
6,849,333
6,335,124
Net assets
Shareholders' equity
Capital stock
8,646,720
8,646,720
Capital surplus
11,946,793
11,948,947
Retained earnings
21,654,339
22,571,677
Treasury shares
(47,072)
(42,051)
Total shareholders' equity
42,200,781
43,125,292
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
53,057
62,363
Foreign currency translation adjustment
(555,170)
(1,766,432)
Total accumulated other comprehensive income
(502,113)
(1,704,069)
Subscription rights to shares
1,775
-
Total net assets
41,700,443
41,421,223
Total liabilities and net assets
48,549,776
47,756,347
Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)
Consolidated statements of income (cumulative)
(Thousands of yen)
Six months ended September 30, 2015
Six months ended September 30, 2016
Net sales
14,564,403
15,159,537
Cost of sales
9,468,304
9,443,729
Gross profit
5,096,099
5,715,808
Selling, general and administrative expenses
3,624,062
3,411,175
Operating income
1,472,037
2,304,633
Non-operating income
Interest income
16,999
14,463
Rent income
46,564
35,769
Other
28,816
31,842
Total non-operating income
92,378
82,073
Non-operating expenses
Interest expenses
3,498
1,158
Foreign exchange losses
87,517
314,067
Rent expenses on real estate for investments
19,279
21,995
Other
6,966
22,607
Total non-operating expenses
117,260
359,826
Ordinary income
1,447,156
2,026,880
Extraordinary income
Gain on sales of non-current assets
3,617
15
Total extraordinary income
3,617
15
Extraordinary losses
Loss on sales and retirement of non-current assets
924
7,697
Loss on liquidation of business
-
234,083
Loss on sales of investment securities
6,816
-
Other
-
2,600
Total extraordinary losses
7,740
244,379
Profit before income taxes
1,443,033
1,782,516
Income taxes - current
566,589
614,075
Income taxes - deferred
24,378
16,454
Total income taxes
590,967
630,529
Profit
852,066
1,151,987
Profit (loss) attributable to non-controlling interests
(0)
-
Profit attributable to owners of parent
852,066
1,151,987
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
Six months ended September 30, 2015
Six months ended September 30, 2016
Profit
852,066
1,151,987
Other comprehensive income
Valuation difference on available-for-sale securities
(57,602)
9,307
Foreign currency translation adjustment
(1,301,997)
(1,211,263)
Total other comprehensive income
(1,359,600)
(1,201,956)
Comprehensive income
(507,534)
(49,969)
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
(507,534)
(49,969)
Comprehensive income attributable to non-controlling interests
(0)
-
Consolidated statements of cash flows
(Thousands of yen)
Six months ended September 30, 2015
Six months ended September 30, 2016
Cash flows from operating activities
Profit before income taxes
1,443,033
1,782,516
Depreciation
913,301
884,636
Loss on liquidation of business
-
234,083
Amortization of goodwill
145,093
101,337
Increase (decrease) in allowance for doubtful accounts
(1,080)
54,750
Loss (gain) on sales of investment securities
6,816
-
Loss (gain) on sales and retirement of non-current assets
(2,693)
7,682
Interest and dividend income
(27,371)
(16,695)
Foreign exchange losses (gains)
378,400
333,564
Decrease (increase) in notes and accounts receivable - trade
795,167
(24,323)
Decrease (increase) in inventories
(301,878)
(386,376)
Increase (decrease) in notes and accounts payable - trade
(1,322,409)
(181,560)
Other, net
130,053
51,356
Subtotal
2,156,432
2,840,972
Interest and dividend income received
27,910
18,543
Interest expenses paid
(2,763)
(629)
Income taxes paid
(436,776)
(535,654)
Net cash provided by (used in) operating activities
1,744,803
2,323,231
Cash flows from investing activities
Net decrease (increase) in time deposits
24,716
522,397
Purchase of property, plant and equipment
(630,939)
(1,055,212)
Proceeds from sales of property, plant and equipment
13,951
15
Purchase of investment securities
(1,882)
(1,909)
Proceeds from sales of investment securities
95,980
-
Purchase of intangible assets
(21,366)
(23,433)
Proceeds from sales of intangible assets
-
120,000
Other, net
1,277
(1,983)
Net cash provided by (used in) investing activities
(518,262)
(440,125)
Cash flows from financing activities
Repayments of long-term loans payable
(820,482)
(163,893)
Purchase of treasury shares
-
(326)
Proceeds from sales of treasury shares
-
5,725
Cash dividends paid
(222,300)
(234,649)
Dividends paid to non-controlling interests
(1,233)
-
Net cash provided by (used in) financing activities
(1,044,016)
(393,143)
Effect of exchange rate change on cash and cash equivalents
(136,547)
(269,945)
Net increase (decrease) in cash and cash equivalents
45,979
1,220,018
Cash and cash equivalents at beginning of period
13,683,508
14,540,571
Increase in cash and cash equivalents from newly consolidated subsidiary
7,000
-
Cash and cash equivalents at end of period
13,736,486
15,760,589
This information is provided by RNS
The company news service from the London Stock Exchange
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