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, 2015 (Based on Japanese GAAP)
October 29, 2015
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 to file Quarterly Securities Report:
November 13, 2015
Scheduled date to commence dividend payments:
December 7, 2015
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, 2015 (from April 1, 2015 to September 30, 2015)
(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, 2015
14,564
(7.9)
1,472
15.8
1,447
(4.0)
852
12.7
Six months ended September 30, 2014
15,821
3.1
1,271
(3.3)
1,508
8.1
756
(30.1)
Earnings per share
Diluted earnings per share
Yen
Yen
Six months ended September 30, 2015
68.99
68.99
Six months ended September 30, 2014
61.20
61.20
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of September 30, 2015
46,603
40,269
86.4
As of March 31, 2015
49,445
41,000
82.9
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, 2015
-
18.00
-
18.00
36.00
Year ending March 31, 2016
-
19.00
Year ending March 31, 2016 (Forecast)
-
19.00
38.00
3. Forecast of consolidated financial results for the year ending March 31, 2016 (from April 1, 2015 to March 31, 2016)
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
34,000
3.6
3,400
41.4
3,500
23.2
2,500
182.8
202.43
4. Notes
(1) Changes in significant subsidiaries during the six months ended September 30, 2015 (changes in specified subsidiaries resulting in the change in scope of consolidation):
Yes
(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, 2015
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 September 30, 2015
21,983
shares
As of March 31, 2015
21,983
shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Electronically recorded monetary claims - operating
439,199
434,571
Merchandise and finished goods
2,170,099
2,372,151
Work in process
1,864,301
1,698,904
Raw materials and supplies
3,097,696
3,009,551
Deferred tax assets
319,540
316,618
Other
811,100
673,612
Allowance for doubtful accounts
(11,420)
(11,480)
Total current assets
31,406,408
30,035,731
Non-current assets
Property, plant and equipment
Buildings and structures
9,941,584
9,822,671
Accumulated depreciation
(5,306,942)
(5,297,182)
Buildings and structures, net
4,634,642
4,525,489
Machinery, equipment and vehicles
18,005,004
17,112,347
Accumulated depreciation
(13,486,127)
(12,968,571)
Machinery, equipment and vehicles, net
4,518,878
4,143,776
Land
3,518,446
3,520,222
Construction in progress
1,786,282
1,221,329
Other
3,514,181
3,321,464
Accumulated depreciation
(2,980,477)
(2,822,393)
Other, net
533,704
499,071
Total property, plant and equipment
14,991,951
13,909,887
Intangible assets
Goodwill
426,091
280,998
Other
450,485
418,023
Total intangible assets
876,575
699,021
Investments and other assets
2,170,275
1,958,153
Total non-current assets
18,038,802
16,567,061
Total assets
49,445,209
46,602,792
(Thousands of yen)
As of March 31, 2015
As of September 30, 2015
Liabilities
Current liabilities
Notes and accounts payable - trade
3,989,435
2,636,068
Current portion of long-term loans payable
992,576
224,884
Income taxes payable
393,528
593,377
Provision for bonuses
458,819
440,697
Provision for directors' bonuses
4,750
4,750
Notes payable - facilities
184,241
240,894
Other
1,690,996
1,655,129
Total current liabilities
7,714,345
5,795,799
Non-current liabilities
Long-term loans payable
253,393
184,451
Provision for environmental measures
26,256
26,256
Other
451,317
327,514
Total non-current liabilities
730,966
538,222
Total liabilities
8,445,311
6,334,021
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
20,454,091
Treasury shares
(46,922)
(46,922)
Total shareholders' equity
40,370,916
41,000,681
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
130,601
72,999
Foreign currency translation adjustment
495,314
(806,684)
Total accumulated other comprehensive income
625,915
(733,685)
Subscription rights to shares
1,775
1,775
Non-controlling interests
1,293
-
Total net assets
40,999,898
40,268,771
Total liabilities and net assets
49,445,209
46,602,792
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, 2014
Six months ended September 30, 2015
Net sales
15,821,000
14,564,403
Cost of sales
10,728,722
9,468,304
Gross profit
5,092,278
5,096,099
Selling, general and administrative expenses
3,821,576
3,624,062
Operating income
1,270,702
1,472,037
Non-operating income
Interest income
20,907
16,999
Rent income
50,911
46,564
Foreign exchange gains
172,439
-
Other
28,162
28,816
Total non-operating income
272,419
92,378
Non-operating expenses
Interest expenses
7,479
3,498
Foreign exchange losses
-
87,517
Rent expenses on real estate for investments
18,647
19,279
Other
8,942
6,966
Total non-operating expenses
35,068
117,260
Ordinary income
1,508,053
1,447,156
Extraordinary income
Gain on sales of non-current assets
1,406
3,617
Gain on sales of investment securities
21,498
-
Subsidy income
755,000
-
Total extraordinary income
777,905
3,617
Extraordinary losses
Loss on sales and retirement of non-current assets
5,119
924
Loss on reduction of non-current assets
738,327
-
Impairment loss
192,134
-
Loss on sales of investment securities
-
6,816
Other
36,589
-
Total extraordinary losses
972,170
7,740
Income before income taxes and minority interests
1,313,788
1,443,033
Income taxes - current
559,741
566,589
Income taxes - deferred
(1,898)
24,378
Total income taxes
557,843
590,967
Profit
755,944
852,066
Profit attributable to non-controlling interests
98
(0)
Profit attributable to owners of parent
755,847
852,066
Consolidated statements of comprehensive income (cumulative)
(Thousands of yen)
Six months ended September 30, 2014
Six months ended September 30, 2015
Profit
755,944
852,066
Other comprehensive income
Valuation difference on available-for-sale securities
47,348
(57,602)
Foreign currency translation adjustment
548,848
(1,301,997)
Total other comprehensive income
596,196
(1,359,600)
Comprehensive income
1,352,141
(507,534)
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
1,352,043
(507,534)
Comprehensive income attributable to non-controlling interests
98
(0)
Consolidated statements of cash flows
(Thousands of yen)
Six months ended September 30, 2014
Six months ended September 30, 2015
Cash flows from operating activities
Income before income taxes and minority interests
1,313,788
1,443,033
Depreciation
1,054,068
913,301
Impairment loss
192,134
-
Amortization of goodwill
145,093
145,093
Increase (decrease) in allowance for doubtful accounts
(815)
(1,080)
Loss (gain) on sales of investment securities
(21,498)
6,816
Loss (gain) on sales and retirement of non-current assets
3,713
(2,693)
Loss on reduction of non-current assets
738,327
-
Interest and dividend income
(23,062)
(27,371)
Foreign exchange losses (gains)
(153,272)
378,400
Decrease (increase) in notes and accounts receivable - trade
1,103,346
795,167
Decrease (increase) in inventories
(831,381)
(301,878)
Increase (decrease) in notes and accounts payable - trade
(404,829)
(1,322,409)
Other, net
250,245
130,053
Subtotal
3,365,856
2,156,432
Interest and dividend income received
23,152
27,910
Interest expenses paid
(8,057)
(2,763)
Income taxes paid
(956,776)
(436,776)
Net cash provided by (used in) operating activities
2,424,175
1,744,803
Cash flows from investing activities
Payments into time deposits
(293,611)
-
Proceeds from withdrawal of time deposits
663,999
24,716
Purchase of property, plant and equipment
(1,263,952)
(630,939)
Proceeds from sales of property, plant and equipment
68,572
13,951
Purchase of investment securities
(2,026)
(1,882)
Proceeds from sales of investment securities
62,002
95,980
Purchase of intangible assets
(39,055)
(21,366)
Other, net
(48,492)
1,277
Net cash provided by (used in) investing activities
(852,563)
(518,262)
Cash flows from financing activities
Repayments of long-term loans payable
(209,742)
(820,482)
Purchase of treasury shares
(210)
-
Cash dividends paid
(209,952)
(222,300)
Dividends paid to non-controlling interests
-
(1,233)
Net cash provided by (used in) financing activities
(419,904)
(1,044,016)
Effect of exchange rate change on cash and cash equivalents
129,265
(136,547)
Net increase (decrease) in cash and cash equivalents
1,280,973
45,979
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
13,788,171
13,736,486
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR MMBATMBMJMJA
