TIDMMAW
RNS Number : 5649U
Maruwa Co Ld
30 July 2015
30 July
2015
MARUWA CO., LTD.
3-83, Minamihonjigahara-cho, Owariasahi-city,
Aichi-pref., 488-0044 JAPAN
Consolidated financial results for the first quarter of Fiscal 2015
MARUWA CO., LTD. today announced its consolidated financial results
for the first quarter of Fiscal 2015<1 April 2014 - 30 June 2015>
as follows;
I. Summary of Consolidated
Financial Results
(1) Summary of consolidated
operating results
JPY million
---------------- ----------------- ----------
Change
1st Quarter 1st Quarter %
1 April - 1 April -
30 June 30June
2014 2015
---------------- ----------------- ----------
Net sales 7,516 7,189 -4.3%
Operating income 450 651 44.7%
Income before income
taxes 564 737 30.7%
Net income 358 442 23.6%
---------------- ----------------- ----------
Net income per share: JPY
---------------- ----------------- ----------
Basic 28.98 35.81 23.6%
Diluted 28.97 35.81 23.6%
---------------- ----------------- ----------
(2) Summary of consolidated
financial condition
JPY million
---------------- ----------------- ----------
As of 31 As of 30 Change
March June %
2014 2015
---------------- ----------------- ----------
Total assets 49,445 47,500 -3.9%
Total net assets 41,000 41,334 0.8%
---------------- ----------------- ----------
Equity ratio 82.9% 87.0% 4.1%
---------------- ----------------- ----------
JPY
Total net assets
per share 3,319.58 3,346.71 0.8%
---------------- ----------------- ----------
II. Dividends
JPY per share
---------------- -----------------
Fiscal 2014 Fiscal 2015
(forecast)
---------------- -----------------
Interim 18 19
Year-end 18 19
---------------- -----------------
Total 36 38
---------------- -----------------
*Cautionary statements: the above forecasts are forward-looking
statements involving risks and @@@@@uncertainties. Due
to a number of factors, actual results may differ significantly
from these estimates.
++V. Outlook for the fiscal 2015<1 April
2015 - 30 June 2015>
The forecast figures for business results and dividends announced
in 28th@April 2015 are not changed.
*The financial statements are prepared in conformity with the accounting
principles generally accepted in Japan.
*Consolidated subsidiaries: 15companies.
Review of Operations
1. Review of Operations
In this consolidated cumulative 1st quarter, the United States
economy has gradually recovered due to a steady recovery of
employment environment, Europe, a gradual recovery was seen by the
personal consumption. However, Greece issues such as remain, such
as is now in a state of insecurity remain. Also, in the emerging
countries, including China and Southeast Asian countries, we have
remained firm despite slowdown of economic growth is
continuing.
In the Japanese economy, became a gradual economic recovery and
improvement of income environment associated with the upturn in
corporate earnings due to weaker yen progression. However, emerging
economic stagnation, such as due to high levels of raw material
prices due to sluggish growth and the yen stable clothes for
export, it is still a situation where anxiety remains in the
future.
Under the uncertain market condition, the MARUWA Groupfs
business results during this quarter has stayed firm especially in
ceramic products for power modules related to energy-savings and
environment and communication-related ceramic products which were
one of our differentiated products in the ceramic components
division. In the lighting equipment division, inquiries of public
related lighting, including the road lamp has been strong, we have
remained generally as expected.
As a result, our consolidated sales were 7,189 million yen
(decrease 4.3% year on year). Our operating income was 651 million
yen (increase 44.7% year on year). Ordinary profit was 744 million
yen (increase 35.4% year on year). Net income was 442 million yen
(increase 23.6% year on year).
2.Operating Results by Business Division
The Ceramic Components Division
The total sales for this business segment was 5,383 million yen
(decrease 4.5% year on year).
This decrease is something that has been assumed in the due
review of constitution of significant NFC ferrite sheet business in
the previous fiscal year.
An operating loss was 1,120 million yen (increase 10.7% year on
year).
Lighting Equipment Division
The total sales for this business segment was 1,807 million yen
(decrease 3.8% year on year).
MARUWA SHOMEI, orders for public-related lighting, including the
road lights were strong. YAMAGIWA, such as the construction period
delay due to shortage of soaring and the construction site of
construction materials due to the yen's depreciation, but we have
followed from the previous fiscal year, actively perform the PR to
the customer in the showroom that trimmed the previous fiscal year,
continued to take advantage of below.
An operating loss was 316 million yen (compared with an
operating profit 96 million yen of the previous year).
Regarding profits, we are further strengthening the structure of
YAMAGIWA and it steadily produces results. We will continue to
develop and expand sales of ceramic LED modules and lighting
equipment.
Review of Operations
Review of operating results
by segment
JPY million
---- ------------
1st Quarter 1st Quarter
1 April 1 April -
- 30 June 30 June
2014 2015
------------ ------------------
Ceramic Components:
Net sales 5,637 5,384
Operating income 1,012 1,120
------------ ---- ------------
Lighting Equipment:
Net sales 1,879 1,807
Operating income (316) (221)
------------ ---- ------------
Total:
Net sales 7,516 7,191
Operating income 696 899
------------ ---- ------------
Elimination:
Net sales -- --
Operating income (245) (248)
------------ ---- ------------
Consolidated:
Net sales 7,516 7,191
Operating income 450 651
------------ ---- ------------
3. Financial Condition
Total assets as of the end of this first quarter were 47,500
million yen, decrease@3.9% from end of the fiscal year. Total
liabilities were@6,166 million yen, decrease 27.0% from the end of
last fiscal year. Total net assets were 41,334 million yen
,increase 0.8% from the end of last fiscal year.
Consolidated Balance Sheet
JPY million
------------ ------------
1st Quarter (Reference)
As of 30 As of 31
June March
2015 2015
------------ ------------
ASSETS
Current assets:
Cash & deposits 12,799 14,225
Trade notes and accounts receivable 7,721 8,491
Electronically recorded monetary
claims-operating 429 439
Inventories 7,395 7,132
Deferred tax assets 222 320
Other current assets 1,073 811
Allowance for doubtful accounts (12) (11)
Total current assets 29,628 31,407
Property, plant & equipment:
Land 3,531 3,518
Buildings & structures 4,723 4,635
Machinery & equipment 4,463 4,519
Other 539 534
Construction in progress 1,687 1,786
------------ ------------
Total property, plant & equipment 14,944 14,992
------------ ------------
Goodwill 354 426
Other 456 450
------------ ------------
Total Intangible assets 810 876
Investment & other assets:
Total investments & other assets 2,119 2,170
Total assets 47,500 49,445
------------ ------------
LIABILITIES
Current liabilities:
Trade notes & accounts payable 2,803 3,989
Current portion of long-term
debt 308 993
Accrued income taxes 164 394
Accrued bonus 236 459
Accrued bonus to directors 2 5
Notes payable for property acquisitions 223 184
Other 1,858 1,691
Total current liabilities 5,594 7,715
Long-term liabilities:
Long-term debt 219 253
Provision for environmental measures 26 26
Other 327 451
Total long-term liabilities 572 730
Total liabilities 6,166 8,445
------- -------
NET ASSETS
Shareholders' equity:
Common stock 8,647 8,647
Capital surplus 11,947 11,947
Retained earnings 20,044 19,824
Treasury stock, at cost (47) (47)
Total shareholders' equity 40,591 40,371
------- -------
Valuation and translation adjustments:
Net unrealized gains(losses)on
available-for-sale securities 149 131
Foreign currency translation
adjustments 592 495
Total valuation and translation
adjustments 741 626
------- -------
A subscription warrant@and@Minority
stockholders share 2 3
Total shareholders' equity 2 3
------- -------
Total net assets 41,334 41,000
------- -------
Total liabilities and net assets 47,500 49,445
------- -------
Consolidated Statements of
Income
JPY million
------------ ------------
1st Quarter 1st Quarter
1 April - 1 April -
30 June 30 June
2014 2015
------------ ------------
Net sales 7,516 7,189
Cost of sales 5,157 4,682
Gross profit 2,359 2,508
------------ ------------
Selling, general & administrative 1,909 1,856
------------ ------------
expenses
Operating income 450 651
------------ ------------
Other income (expenses):
Interest & dividend income 8 7
Interest expenses (3) (3)
Rent income 22 23
Rent expenses on real estates
for investments (8) (7)
Foreign exchange gain (loss),
net 74 55
Gain on sales of noncurrent
assets 0 0
Subsidy income 755 -
Loss on disposal or sales of
property, plant and equipment (2) -
Loss on sales of inventories
securities - (7)
Loss on reduction of noncurrent
assets (738) -
Other, net 7 18
Other income (expenses), net 115 86
------------ ------------
Income before income taxes 564 737
------------ ------------
Income taxes:
Current 93 216
Deferred 113 79
Total income taxes 206 295
------------ ------------
Minority interests in income 0 (0)
------------ ------------
Net income 358 442
------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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