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, 2017 (Based on Japanese GAAP)
October 31, 2017
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
Tamaki Nozoki
TEL 0561-51-0839
Scheduled date to file Quarterly Securities Report:
November 10, 2017
Scheduled date to commence dividend payments:
December 8, 2017
Preparation of supplementary material on quarterly financial results:
No
Holding of quarterly financial results meeting:
No
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2017 (from April 1, 2017 to September 30, 2017)
(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Six months ended September 30, 2017
17,454
15.1
3,898
69.1
3,979
96.3
2,641
129.3
Six months ended September 30, 2016
15,159
4.1
2,304
56.6
2,026
40.1
1,151
35.2
Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2017
213.78
-
Six months ended September 30, 2016
93.27
93.26
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2017
54,204
46,246
85.3
As of March 31, 2017
50,593
43,317
85.6
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, 2017
-
20.00
-
20.00
40.00
Year ending March 31, 2018
-
22.00
Year ending March 31, 2018 (Forecast)
-
22.00
44.00
3. Forecast of consolidated financial results for the year ending March 31, 2018 (from April 1, 2017 to March 31, 2018)
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Earnings per share
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Yen
Full year
33,350
3.6
5,400
9.0
5,450
9.5
3,400
19.3
275.25
4. Notes
(1) Changes in significant subsidiaries during the six months ended September 30, 2017 (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:
No
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, 2017
12,372,000
shares
As of March 31, 2017
12,372,000
shares
Number of treasury shares at the end of the period
As of September 30, 2017
702
shares
As of March 31, 2017
19,629
shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Electronically recorded monetary claims - operating
503,710
637,554
Merchandise and finished goods
2,222,216
2,362,829
Work in process
1,400,373
1,645,636
Raw materials and supplies
3,249,129
3,506,801
Deferred tax assets
321,655
355,623
Other
755,238
731,646
Allowance for doubtful accounts
(2,850)
(2,713)
Total current assets
35,213,127
38,057,780
Non-current assets
Property, plant and equipment
Buildings and structures
10,073,489
10,782,828
Accumulated depreciation
(5,731,785)
(5,956,172)
Buildings and structures, net
4,341,703
4,826,655
Machinery, equipment and vehicles
18,213,958
19,017,403
Accumulated depreciation
(14,338,009)
(14,912,757)
Machinery, equipment and vehicles, net
3,875,948
4,104,645
Land
3,668,726
3,684,420
Construction in progress
679,005
501,444
Other
3,590,735
3,909,048
Accumulated depreciation
(3,029,884)
(3,259,449)
Other, net
560,851
649,598
Total property, plant and equipment
13,126,235
13,766,765
Intangible assets
Goodwill
20,740
6,913
Other
278,983
276,651
Total intangible assets
299,723
283,564
Investments and other assets
1,954,773
2,096,380
Total non-current assets
15,380,733
16,146,709
Total assets
50,593,860
54,204,490
(Thousands of yen)
As of March 31, 2017
As of September 30, 2017
Liabilities
Current liabilities
Notes and accounts payable - trade
3,503,852
2,280,814
Electronically recorded obligations - operating
-
1,352,046
Current portion of long-term loans payable
22,800
-
Income taxes payable
1,024,872
1,284,413
Provision for bonuses
458,385
521,026
Provision for directors' bonuses
27,500
7,000
Other
1,726,211
1,897,124
Total current liabilities
6,763,623
7,342,424
Non-current liabilities
Deferred tax liabilities
187,311
290,990
Provision for environmental measures
13,526
13,526
Other
312,136
311,443
Total non-current liabilities
512,973
615,960
Total liabilities
7,276,596
7,958,385
Net assets
Shareholders' equity
Capital stock
8,646,720
8,646,720
Capital surplus
11,948,946
11,996,407
Retained earnings
24,022,962
26,417,905
Treasury shares
(42,051)
(2,129)
Total shareholders' equity
44,576,578
47,058,904
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
121,179
164,837
Foreign currency translation adjustment
(1,380,493)
(977,637)
Total accumulated other comprehensive income
(1,259,314)
(812,799)
Total net assets
43,317,263
46,246,104
Total liabilities and net assets
50,593,860
54,204,490
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, 2016
Six months ended September 30, 2017
Net sales
15,159,536
17,454,887
Cost of sales
9,443,728
9,994,317
Gross profit
5,715,808
7,460,570
Selling, general and administrative expenses
3,411,175
3,562,454
Operating profit
2,304,633
3,898,116
Non-operating income
Interest income
14,462
12,810
Rent income
35,769
38,832
Foreign exchange gains
-
39,693
Other
31,841
14,276
Total non-operating income
82,073
105,612
Non-operating expenses
Interest expenses
1,158
7
Foreign exchange losses
314,066
-
Rent expenses on real estate for investments
21,994
20,089
Other
22,606
4,115
Total non-operating expenses
359,826
24,212
Ordinary profit
2,026,880
3,979,516
Extraordinary income
Gain on sales of non-current assets
14
7,760
Total extraordinary income
14
7,760
Extraordinary losses
Loss on sales and retirement of non-current assets
7,696
55,620
Loss on liquidation of business
234,082
73,106
Other
2,600
-
Total extraordinary losses
244,379
128,726
Profit before income taxes
1,782,515
3,858,550
Income taxes - current
614,075
1,163,720
Income taxes - deferred
16,453
52,839
Total income taxes
630,528
1,216,560
Profit
1,151,986
2,641,990
Profit attributable to owners of parent
1,151,986
2,641,990
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
Six months ended September 30, 2016
Six months ended September 30, 2017
Profit
1,151,986
2,641,990
Other comprehensive income
Valuation difference on available-for-sale securities
9,306
43,658
Foreign currency translation adjustment
(1,211,262)
402,856
Total other comprehensive income
(1,201,956)
446,514
Comprehensive income
(49,969)
3,088,505
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
(49,969)
3,088,505
Consolidated statements of cash flows
(Thousands of yen)
Six months ended September 30, 2016
Six months ended September 30, 2017
Cash flows from operating activities
Profit before income taxes
1,782,515
3,858,550
Depreciation
884,636
864,388
Loss on liquidation of business
234,082
73,106
Amortization of goodwill
101,337
13,827
Increase (decrease) in allowance for doubtful accounts
54,750
196
Loss (gain) on sales and retirement of non-current assets
7,681
47,859
Interest and dividend income
(16,694)
(15,439)
Foreign exchange losses (gains)
333,564
(1,986)
Decrease (increase) in notes and accounts receivable - trade
(24,322)
(482,552)
Decrease (increase) in inventories
(386,375)
(590,714)
Increase (decrease) in notes and accounts payable - trade
(181,560)
(160,228)
Other, net
51,356
272,781
Subtotal
2,840,971
3,879,788
Interest and dividend income received
18,542
15,439
Interest expenses paid
(628)
(7)
Income taxes paid
(535,654)
(908,579)
Net cash provided by (used in) operating activities
2,323,231
2,986,641
Cash flows from investing activities
Net decrease (increase) in time deposits
522,397
(87,882)
Purchase of property, plant and equipment
(1,055,212)
(1,079,555)
Proceeds from sales of property, plant and equipment
15
14,054
Purchase of investment securities
(1,909)
(1,996)
Purchase of intangible assets
(23,432)
(12,545)
Proceeds from sales of intangible assets
120,000
-
Purchase of shares of subsidiaries
-
(24,003)
Other, net
(1,982)
(2,188)
Net cash provided by (used in) investing activities
(440,125)
(1,194,118)
Cash flows from financing activities
Repayments of long-term loans payable
(163,893)
(22,800)
Purchase of treasury shares
(326)
(51,066)
Proceeds from sales of treasury shares
5,725
-
Cash dividends paid
(234,649)
(247,047)
Net cash provided by (used in) financing activities
(393,143)
(320,913)
Effect of exchange rate change on cash and cash equivalents
(269,944)
39,770
Net increase (decrease) in cash and cash equivalents
1,220,018
1,511,379
Cash and cash equivalents at beginning of period
14,540,570
17,834,008
Cash and cash equivalents at end of period
15,760,588
19,345,387
This information is provided by RNS
The company news service from the London Stock Exchange
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