TIDMMBC
RNS Number : 9609U
Mitsubishi Corporation
04 August 2015
FINANCIAL RESULTS FOR
THE THREE MONTHS ENDED JUNE 2015
-----------------------------------
Mitsubishi Corporation
2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086
http://www.mitsubishicorp.com/
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9609U_-2015-8-4.pdf
August 4, 2015
Mitsubishi Corporation
FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30,
2015
(Based on IFRS) (Consolidated)
1. Consolidated operating results for the three months Note:
ended June 30, 2015 Figures less than
(1) Revenues and income one million yen
are rounded.
%: change from
the same period
of the previous
year
Revenues Income before Net income Net income Comprehensive
income taxes attributable income
to
owners of
the Parent
------------------ ---------------- ---------------- ---------------- ---------------- ----------------
For the three Millions Millions Millions Millions Millions
months ended of Yen % of Yen % of Yen % of Yen % of Yen %
June 30, 2015 1,820,041 (3.9) 101,197 (31.3) 86,383 (26.4) 74,954 (31.9) 130,754 68.3
June 30, 2014 1,894,465 0.4 147,247 (20.2) 117,378 (15.7) 110,057 (16.9) 77,685 (62.8)
------------------ --------- ----- -------- ------ -------- ------ -------- ------ -------- ------
Net income Net income
attributable attributable
to owners to owners
of the Parent of the Parent
per share per share
(basic) (diluted)
------------------ -------------- --------------
For the three
months ended Yen Yen
June 30, 2015 46.31 46.20
June 30, 2014 66.96 66.81
------------------ -------------- --------------
NOTE: Net income attributable to owners of the Parent per share (basic)
and Net income attributable to owners of the Parent per share
(diluted) are calculated based on Net income attributable to
owners of the Parent.
(2) Financial position
Total assets Total equity Equity attributable Ratio of equity
to attributable
owners of to
the Parent owners of
the Parent
to total assets
------------------ ------------ ------------ ------------------- ----------------
As of Millions of Millions of Millions of
Yen Yen Yen %
June 30, 2015 16,730,373 6,078,951 5,596,395 33.5
March 31,
2015 16,774,366 6,055,555 5,570,477 33.2
------------------ ------------ ------------ ------------------- ----------------
2. Dividends
Cash dividend per share (Yen)
--------------------- ----------------------------------------
(Record date) 1Q end 2Q end 3Q end 4Q end Annual
--------------------- ------- ------ ------ ------ -------
Fiscal Year
ended March
31, 2015 40.00 30.00 70.00
------------------------------ ------ ------ ------ -------
Fiscal Year
ending March
31, 2016
--------------------- ------- ------ ------ ------ -------
Fiscal Year
ending March
31, 2016 (Forecast) 28.00 28.00 56.00
------------------------------ ------ ------ ------ -------
NOTES: (1) Change from the latest released dividend forecasts: None
(2) Breakdown of 2Q end dividend for the year ended March 31,
2015: Regular dividend 30.00Yen; commemorative dividend 10.00Yen
3. Outlook for the fiscal year ending March 31, 2016 (April 1,
2015 to March 31, 2016)
Note:
%: change from
the previous
year.
Net income attributable Net income attributable
to to owners of the
owners of the Parent per share
Parent
-------------- ------------------------- -----------------------
For the year Millions
ending of Yen % Yen
March 31,
2016 360,000 (10.1) 226.07
-------------- -------------- --------- -----------------------
NOTE: Change from the latest released earnings forecasts: None
4. Notes
(1) Changes in significant subsidiaries during the period
(changes in specified subsidiaries causing changes in scope of
consolidation): None
New companies:
Excluded companies:
(2) Changes in accounting principles and accounting estimate
-1- Changes in accounting principles required by IFRS: None
-2- Changes other than -1-: None
-3- Changes in accounting estimate: None
(3) Number of shares issued (Common stock)
-1- Number of shares issued at
quarterly-end (including treasury (June 30, (March 31,
stock) 2015) 1,624,036,751 2015) 1,624,036,751
-2- Number of treasury stock (June 30, (March 31,
at quarterly-end 2015) 19,285,268 2015) 3,653,124
-3- Average number of shares
during each of the following (June 30, (June 30,
three months (Apr-Jun.) 2015) 1,618,561,330 2014) 1,643,541,027
Disclosure Regarding Quarterly Review Procedures
As of the date of disclosure of this quarterly earnings release,
a review of the quarterly financial statements is being carried out
in accordance with the Financial Instruments and Corporate Exchange
Act.
Forward-looking Statements
Earnings forecasts and other forward-looking statements in this
release are based on data currently available to management and
certain assumptions that management believes are reasonable. The
achievement of said forecasts cannot be promised. Actual results
may therefore differ materially from these statements for various
reasons. For cautionary notes concerning assumptions for earnings
forecasts and use of earnings forecasts, please refer to "1(3)
Qualitative Information Concerning Consolidated Forecasts for the
Year Ending March 2016".
Contents
1. Qualitative Information Concerning Consolidated Operating
Results ...........................2
(1) Qualitative Information Related to Consolidated Results of
Operations ................................. 2
(2) Qualitative Information Concerning Consolidated Financial
Position .................................4
(3) Qualitative Information Concerning Consolidated Forecasts
for the Year Ending March 2016 ...... 5
2. Summary Information (Notes)
...........................................................................6
(1) Significant Changes in Subsidiaries During the Three Months
Ended June 2015 ........................6
(2) Changes in Accounting Policies and Changes in Accounting
Estimates ................................. 6
3. Condensed Consolidated Financial Statements
......................................................7
(1) Condensed Consolidated Statement of Financial Position
(IFRS) ....................................... 7
(2) Condensed Consolidated Statement of Income (IFRS)
...................................................9
(3) Condensed Consolidated Statement of Comprehensive Income
(IFRS) ........................ 10
(4) Condensed Consolidated Statement of Changes in Equity (IFRS)
.......................................11
(5) Condensed Consolidated Statement of Cash Flows (IFRS)
............................................. 12
(6) Notes Concerning Going Concern Assumption
............................................................13
(7) Segment Information (Condensed) (IFRS)
...............................................................
13
(8) Notes Concerning Major Changes in Shareholders' Equity
............................................. 13
* Mitsubishi Corporation will hold an earnings conference call
for the three months ended June 2015, inviting institutional
investors and analysts to join.
The conference material can be accessed live in Japanese from
our website (Investor Relations section) at the following URL:
http://www.mitsubishicorp.com/jp/en/ir/index.html
Time and date of the earnings conference call:
From 16:45 to 17:45 on Tuesday, August 4, 2015
1. Qualitative Information Concerning Consolidated Operating
Results
(Consolidated net income, as used hereinafter, refers to net
income attributable to owners of the Parent.)
(1) Qualitative Information Related to Consolidated Results of
Operations
Summary of Results for the Three Months Ended June 2015
In the first three months of the year ending March 2016, the
U.S. economy continued to experience a firm recovery, supported by
consumer spending. In Europe, overall economic conditions continued
to recover, but concerns about a Greek debt default mounted.
Certain emerging nations experienced a slowdown in economic growth.
The Japanese economy remained on a moderate recovery path, with
signs of an upturn in consumer spending.
Against this background, revenues for the first three months of
the year ending March 2016 were 1,820.0 billion yen, down 74.4
billion yen, or 4% year over year, due in part to falling crude oil
prices.
Gross profit was 279.8 billion yen, mostly unchanged year over
year.
Selling, general and administrative expenses increased 20.0
billion yen, or 8%, year over year to 257.3 billion yen, mainly due
to the impact of business expansion (new consolidations).
In other P/L items, there were decreases in finance income,
mainly reflecting lower dividend income from resource-related
investees.
Income from investments accounted for using the equity method
decreased 17.7 billion yen, or 26%, to 49.7 billion yen.
As a result, income before income taxes decreased 46.1 billion
yen, or 31%, to 101.2 billion yen.
Accordingly, consolidated net income attributable to owners of
the Parent for the three months ended June 2015 declined 35.1
billion yen, or 32%, to 75.0 billion yen.
Review of Operating Segments
1) Global Environmental & Infrastructure Business Group
The Global Environmental & Infrastructure Business Group
conducts infrastructure projects, related trading operations and
other activities in power generation, water, transportation and
other infrastructure fields that serve as a foundation for
industry.
The segment recorded consolidated net income of 5.6 billion yen,
an increase of 0.8 billion yen year over year. The higher earnings
mainly reflected increased earnings from electricity transmission
and certain overseas power generation.
2) Industrial Finance, Logistics & Development Group
The Industrial Finance, Logistics & Development Group is
developing shosha-type industrial finance business. These
businesses range from asset management, infrastructure investment,
and buyout investment to leasing, real estate development and
logistics services.
The segment recorded consolidated net income of 9.1 billion yen,
down 4.1 billion yen year over year. The lower earnings mainly
reflected lower earnings from the fund investment business.
3) Energy Business Group
The Energy Business Group conducts a number of activities
including oil and gas exploration, development and production
(E&P) business; investment in natural gas liquefaction
projects; trading of crude oil, petroleum products, carbon
materials and products, LNG (Liquefied Natural Gas), and LPG
(Liquefied Petroleum Gas); and planning and development of new
energy business.
The segment recorded consolidated net income of 23.0 billion
yen, a decrease of 13.4 billion yen year over year. This decrease
reflects a decline in dividend income from resource-related
business investees due to lower market prices, as well as lower
equity-method earnings.
4) Metals Group
The Metals Group trades, develops business and invests in a
range of fields. These include steel products such as steel sheets
and thick plates, steel raw materials such as coking coal and iron
ore, and non-ferrous raw materials and products such as copper and
aluminum.
The segment recorded consolidated net loss of 8.4 billion yen,
an 18.2 billion yen decrease year over year. The decrease mainly
reflects lower dividend income from resource-related business
investees due to the decline in market prices and lower
equity-method earnings.
5) Machinery Group
The Machinery Group handles sales, finance and logistics across
many different sectors, in which it also invests. These fields
include machine tools, agricultural machinery, construction
machinery, mining machinery, elevators, escalators, ships,
aerospace-related equipment and motor vehicles.
The segment recorded consolidated net income of 26.3 billion
yen, up 3.8 billion yen year over year. The increase is mainly due
to profit from sales in the shipping business.
6) Chemicals Group
The Chemicals Group trades chemical products in a broad range of
fields, in which it also develops business and invests. These
fields extend from basic materials such as ethylene, methanol, and
salt produced from crude oil, natural gas, minerals, plants, marine
resources and so forth, to midstream and downstream products such
as plastics, electronic materials, food ingredients, fertilizer and
fine chemicals.
The segment recorded consolidated net income of 10.7 billion
yen, an increase of 2.8 billion yen. Earnings increased mainly due
to higher earnings on petrochemical-related transactions and an
increase in unrealized gains on investment securities.
7) Living Essentials Group
The Living Essentials Group provides products and services,
develops businesses and invests in various fields closely linked
with people's lives, including food products and food, textiles,
essential supplies, healthcare, distribution and retail. These
fields extend from the procurement of raw materials to the consumer
market.
The segment recorded consolidated net income of 5.6 billion yen,
a decrease of 11.2 billion yen. Earnings decreased mainly due to
lower earnings at a salmon farming business stemming from weak
market prices.
(2) Qualitative Information Concerning Consolidated Financial
Position
Changes in Assets, Liabilities and Equity
Total assets at June 30, 2015 were 16,730.4 billion yen, down
44.0 billion yen from March 31, 2015. The main reasons were the
payment of dividends, the purchase of treasury stock, and payments
to meet working capital requirements, as well as decreases in trade
and other receivables associated with lower trading volumes.
Total liabilities were 10,651.4 billion yen, down 67.4 billion
yen from March 31, 2015. This mainly reflected lower transaction
volumes, payments to meet working capital requirements, and various
other liabilities, despite the impact of the yen's depreciation,
the procurement of funds and an increase in borrowings for new and
additional investments.
Net Interest-bearing liabilities, which are gross
interest-bearing liabilities minus cash, cash equivalents and time
deposits, increased 467.7 billion yen from March 31, 2015 to
4,935.4 billion yen. The net debt-to-equity ratio, which is net
interest-bearing liabilities divided by equity attributable to
owners of the Parent, was 0.9. Rating agencies treat 50% of the
adjusted balance of 200.0 billion yen in hybrid finance as equity;
taking this figure into account, the adjusted net debt-to-equity
ratio was 0.8.
Equity attributable to owners of the Parent increased 25.9
billion yen from March 31, 2015 to 5,596.4 billion yen. The
increase was mainly due to an increase in retained earnings because
of the consolidated net income and an increase in exchange
differences in translating foreign operations accompanying the
yen's depreciation, despite the payment of dividends and purchase
of treasury stock.
Cash Flows
Cash and cash equivalents at June 30, 2015 were 1,452.5 billion
yen, down 272.7 billion yen from March 31, 2015.
(Operating activities)
Net cash used by operating activities was 68.6 billion yen.
Operating activities used net cash primarily to pay income taxes
and meet temporary working capital requirements, despite cash flows
from operating transactions and dividend income.
(Investing activities)
Net cash used in investing activities was 287.6 billion yen.
Investing activities used net cash mainly due to investments in
energy resource businesses and capital expenditures in the
Australian coal business, despite cash provided by the sale of
aircraft and the collection of loans receivable at
subsidiaries.
As a result, free cash flow, the sum of operating and investing
cash flows, was negative 356.2 billion yen.
(Financing activities)
Net cash provided by financing activities was 78.5 billion yen.
Financing activities provided net cash mainly due to the issuance
of hybrid bonds, despite the payment of dividends at the Parent and
the purchase of treasury stock.
(3) Qualitative Information Concerning Consolidated Forecasts
for the Year Ending March 2016
There has been no change to consolidated earnings forecasts for
the year ending March 2016 announced on May 8, 2015.
Note:
Earnings forecasts and other forward-looking statements in this
release are based on data currently available to management and
certain assumptions that management believes are reasonable.
Therefore, they do not constitute a guarantee that they will be
achieved. Actual results may differ materially from these
statements for various reasons.
2. Summary Information (Notes)
(1) Significant Changes in Subsidiaries During the Three Months
Ended June 2015 (Changes in Specified Subsidiaries Causing Changes
in Scope of Consolidation)
None
(2) Changes in Accounting Policies and Changes in Accounting
Estimates
The important accounting policies applied to the condensed
consolidated financial statements for the three months ended June
2015 are identical to the accounting policies applied to the
consolidated financial statements for the previous fiscal year.
3. Condensed Consolidated Financial Statements
Mitsubishi Corporation and subsidiaries
(1) CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS)
March 31, 2015 and June 30, 2015
ASSETS Millions of Yen
------------------------------------------------------ ----------------------
March 31, June 30,
2015 2015
------------------------------------------------------ ---------- ----------
Current assets
Cash and cash equivalents 1,725,189 1,452,490
Time deposits 156,090 164,419
Short-term investments 31,913 22,001
Trade and other receivables 3,473,352 3,394,252
Other financial assets 203,348 186,144
Inventories 1,301,547 1,278,052
Biological assets 69,600 74,354
Advance payments to suppliers 243,939 242,327
Assets classified as held for sale 77,045 63,190
Other current assets 326,667 338,764
---------- ----------
Total current assets 7,608,690 7,215,993
Non-current assets
Investments accounted for using the equity method 3,220,455 3,255,737
Other investments 2,243,344 2,500,539
Trade and other receivables 603,908 623,744
Other financial assets 112,434 111,309
Property and equipment 2,395,261 2,424,731
Investment property 80,524 79,274
Intangible assets and goodwill 329,081 333,766
Deferred tax assets 38,728 37,550
Other non-current assets 141,941 147,730
---------- ----------
Total non-current assets 9,165,676 9,514,380
------------------------------------------------------ ---------- ----------
Total 16,774,366 16,730,373
------------------------------------------------------ ---------- ----------
Mitsubishi Corporation and subsidiaries
(1) CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS)
March 31, 2015 and June 30, 2015
LIABILITIES AND EQUITY Millions of Yen
-------------------------------------------------- ----------------------
March 31, June 30,
2015 2015
-------------------------------------------------- ---------- ----------
Current liabilities
Borrowings 1,513,876 1,605,382
Trade and other payables 2,511,142 2,429,715
Other financial liabilities 161,916 125,714
Advances from customers 232,165 228,525
Income tax payables 41,204 30,374
Liabilities directly associated with assets
classified as held for sale 9,071 6,152
Other current liabilities 509,611 359,106
---------- ----------
Total current liabilities 4,978,985 4,784,968
Non-current liabilities
Borrowings 4,835,117 4,946,901
Trade and other payables 74,123 77,416
Other financial liabilities 25,851 19,551
Accrued pension and retirement benefits 69,482 69,194
Provisions 153,596 152,155
Deferred tax liabilities 544,483 563,657
Other non-current liabilities 37,174 37,580
---------- ----------
Total non-current liabilities 5,739,826 5,866,454
---------- ----------
Total liabilities 10,718,811 10,651,422
---------- ----------
Equity
Common stock 204,447 204,447
Additional paid-in capital 266,688 266,590
Treasury stock (7,796) (51,246)
Other components of equity
Other investments designated as FVTOCI 677,672 695,397
Cash flow hedges (18,609) (26,367)
Exchange differences on translating foreign
operations 856,628 885,788
---------- ----------
Total other components of equity 1,515,691 1,554,818
Retained earnings 3,591,447 3,621,786
---------- ----------
Equity attributable to owners of the Parent 5,570,477 5,596,395
Non-controlling interest 485,078 482,556
---------- ----------
Total equity 6,055,555 6,078,951
-------------------------------------------------- ---------- ----------
Total 16,774,366 16,730,373
-------------------------------------------------- ---------- ----------
Mitsubishi Corporation and subsidiaries
(2) CONDENSED CONSOLIDATED STATEMENT OF INCOME (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen
------------------------------------------------- ------------------------------
Three months Three months
ended ended
June 30, 2014 June 30, 2015
------------------------------------------------- -------------- --------------
Revenues 1,894,465 1,820,041
Costs of revenues (1,618,276) (1,540,223)
-------------- --------------
Gross profit 276,189 279,818
Selling, general and administrative expenses (237,264) (257,287)
Gains (losses) on investments 2,636 (1,844)
Gains on sale and disposal of long-lived assets 2,376 4,040
Impairment losses on long-lived assets (62) (342)
Other income -net 4,910 1,673
Finance income 41,882 38,217
Finance costs (10,764) (12,753)
Income from investments accounted for using
the equity method 67,344 49,675
-------------- --------------
Income before income taxes 147,247 101,197
Income taxes (29,869) (14,814)
-------------- --------------
Net income 117,378 86,383
Net income attributable to:
Owners of the Parent 110,057 74,954
Non-controlling interest 7,321 11,429
-------------- --------------
117,378 86,383
------------------------------------------------- -------------- --------------
Mitsubishi Corporation and subsidiaries
(3) CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen
------------------------------------------------------- -----------------------------
Three months Three months
ended ended
June 30,2014 June 30 ,2015
------------------------------------------------------- ------------- --------------
Net income 117,378 86,383
Other comprehensive income (loss), net of tax
Items that will not be reclassified to net income:
Gains on other investments designated as FVTOCI 17,923 22,927
Remeasurement of defined benefit pension plans (308) (454)
Share of other comprehensive income of investments
accounted for using
the equity method (305) 2,798
------------- --------------
Total 17,310 25,271
Items that may be reclassified to net income:
Cash flow hedges (1,910) (4,901)
Exchange differences on translating foreign
operations (41,886) 34,250
Share of other comprehensive income of investments
accounted for using
the equity method (13,207) (10,249)
------------- --------------
Total (57,003) 19,100
------------- --------------
Total other comprehensive (loss) income (39,693) 44,371
------------- --------------
Total comprehensive income 77,685 130,754
Comprehensive income attributable to:
Owners of the Parent 70,863 117,987
Non-controlling interest 6,822 12,767
------------- --------------
77,685 130,754
------------------------------------------------------- ------------- --------------
Mitsubishi Corporation and subsidiaries
(4) CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen
--------------------------------------------------------------- ------------------------------
Three months Three months
ended ended
June 30 ,2014 June 30 ,2015
--------------------------------------------------------------- -------------- --------------
Common stock:
Balance, beginning of year 204,447 204,447
-------------- --------------
Balance, end of year 204,447 204,447
Additional paid-in capital:
Balance, beginning of year 265,356 266,688
Compensation costs related to stock options 638 338
Sales of treasury stock upon exercise of stock
options (279) (475)
Equity transactions with non-controlling interests
and others (286) 39
-------------- --------------
Balance, end of year 265,429 266,590
Treasury stock:
Balance, beginning of year (14,081) (7,796)
Sales of treasury stock upon exercise of stock
options 692 1,354
Purchases and sales-net (58,687) (44,804)
-------------- --------------
Balance, end of year (72,076) (51,246)
Other components of equity:
Balance, beginning of year 1,259,252 1,515,691
Other comprehensive income attributable to owners
of the Parent (39,194) 43,033
Transfer to retained earnings (2,583) (3,906)
-------------- --------------
Balance, end of year 1,217,475 1,554,818
Retained earnings:
Balance, beginning of year 3,352,692 3,591,447
Net income attributable to owners of the Parent 110,057 74,954
Cash dividends paid to owners of the Parent (62,647) (48,613)
Sales of treasury stock upon exercise of stock
options (340) 92
Transfer from other components of equity 2,583 3,906
-------------- --------------
Balance, end of year 3,402,345 3,621,786
-------------- --------------
Equity attributable to owners of the Parent 5,017,620 5,596,395
-------------- --------------
Non-controlling interest:
Balance, beginning of year 471,704 485,078
Cash dividends paid to non-controlling interest (13,060) (13,613)
Equity transactions with non-controlling interest
and others 298 (1,676)
Net income attributable to non-controlling interest 7,321 11,429
Other comprehensive income attributable to non-controlling
interest (499) 1,338
-------------- --------------
Balance, end of year 465,764 482,556
-------------- --------------
Total equity 5,483,384 6,078,951
--------------------------------------------------------------- -------------- --------------
Mitsubishi Corporation and subsidiaries
(5) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen
------------------------------------------------------------- ------------------------------
Three months Three months
ended ended
June 30, 2014 June 30, 2015
------------------------------------------------------------- -------------- --------------
Operating activities:
Net income 117,378 86,383
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 47,459 55,507
(Gains) losses on investments (2,636) 1,844
Gains on long-lived assets (2,314) (3,698)
Finance income _net of finance costs (31,118) (25,464)
Income from investments accounted for using
the equity method (67,344) (49,675)
Income taxes 29,869 14,814
Changes in notes and accounts receivable_trade 16,484 44,915
Changes in inventories (14,501) 42,787
Changes in notes, acceptance and accounts
payable_trade (69,235) (76,022)
Other_net (55,514) (190,230)
Dividends received 118,293 65,626
Interest received 15,014 27,597
Interest paid (12,266) (18,512)
Income taxes paid (86,633) (44,501)
-------------- --------------
Net cash provided by (used in) operating activities 2,936 (68,629)
Investing activities:
Expenditures for property and equipment (85,827) (64,708)
Proceeds from sales of property and equipment 29,167 14,385
Purchases of investments accounted for using
the equity method (41,785) (78,143)
Proceeds from sales of investments accounted
for using the equity method 5,654 10,806
Acquisitions of businesses_net of cash acquired (1,664)
Proceeds from sales of businesses_net of cash
divested 1,352 4,392
Purchases of other investments (25,036) (217,951)
Proceeds from sales of other investments 28,931 32,351
Increase in loans receivable (35,651) (11,907)
Collection of loans receivable 44,909 33,301
Net decrease (increase) in time deposits 2,632 (8,434)
-------------- --------------
Net cash used in investing activities (75,654) (287,572)
Financing activities:
Net increase in short-term debts 163,192 45,006
Proceeds from long-term debts_net of issuance
costs 199,113 310,348
Repayment of long-term debts (140,363) (170,739)
Payment of dividends (62,647) (48,613)
Payment of dividends to the non-controlling
interest (13,060) (13,613)
Payment for acquisition of subsidiary's interests
from the non-controlling interest (617) (351)
Proceeds from sales of subsidiary's interests
to the non-controlling interest 710 293
Net increase in treasury stock (58,614) (43,832)
-------------- --------------
Net cash provided by financing activities 87,714 78,499
Effect of exchange rate changes on cash and
cash equivalents 4,900 5,003
-------------- --------------
Net increase (decrease) in cash and cash equivalents 19,896 (272,699)
-------------- --------------
Cash and cash equivalents, beginning of period 1,332,036 1,725,189
-------------- --------------
Cash and cash equivalents, end of period 1,351,932 1,452,490
------------------------------------------------------------- -------------- --------------
(6) Notes Concerning Going Concern Assumption
None
(7) Segment Information (Condensed) (IFRS)
Three months ended June 30, 2014
Millions of Yen
--------------------------------------------------------------------------------------------------------------------------------------
Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated
Environmental Finance, Business Essentials and
& Logistics Eliminations
Infrastructure &
Business Development
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Gross
profit 6,585 15,666 13,744 45,971 45,563 27,821 120,456 275,806 4,846 (4,463) 276,189
Income
(loss)
from
investments
accounted
for
using
the
equity
method 6,968 12,831 25,865 6,043 7,978 4,617 3,892 68,194 (809) (41) 67,344
Net income
attributable
to
owners
of the
Parent 4,830 13,178 36,393 9,799 22,494 7,854 16,751 111,299 823 (2,065) 110,057
Total
assets
(As of
March
31) 996,202 895,759 2,253,567 4,796,811 1,999,106 975,467 3,144,562 15,061,474 3,555,574 (1,842,682) 16,774,366
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Three months ended June 30, 2015
Millions of Yen
--------------------------------------------------------------------------------------------------------------------------------------
Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated
Environmental Finance, Business Essentials and
& Logistics Eliminations
Infrastructure &
Business Development
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Gross
profit 7,782 14,171 11,478 33,681 50,573 30,768 128,871 277,324 2,576 (82) 279,818
Income
from
investments
accounted
for
using
the
equity
method 7,559 5,509 20,741 236 7,225 4,201 4,194 49,665 157 (147) 49,675
Net income
(loss)
attributable
to
owners
of the
Parent 5,609 9,071 23,034 (8,430) 26,315 10,661 5,632 71,892 1,873 1,189 74,954
Total
assets
(As of
June 30) 1,010,474 919,330 2,322,866 4,725,857 1,962,031 1,003,537 3,233,461 15,177,556 3,541,426 (1,988,609) 16,730,373
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
NOTES:
*1. "Other" represents the corporate departments which primarily
provide services and operational support to the Company and
Affiliated companies.
This column also includes certain revenues and expenses from
business activities related to financing and human resource
services that are not allocated to reportable operating
segments.
Unallocated corporate assets categorized in "Other" consist
primarily of cash, time deposits and securities for financial and
investment activities.
*2. "Adjustments and Eliminations" includes certain income and
expense items that are not allocated to reportable operating
segments and intersegment eliminations.
*3. The Company determines the infrastructure-related business
of the "Global Environmental & Infrastructure Business Group"
as an operating segment and is thus presented as the Global
Environmental & Infrastructure Business. The
environment-related business categorized in the "Other."
*4. Effective from July 1, 2014 the part of environment-related
business in the "Other" was transferred to the "Global Environment
& Infrastructure Business." With this change, the consolidated
financial position and the results of operations of related
reportable operating segments for the three months ended June 30,
2014 have also been reclassified accordingly.
(8) Notes Concerning Major Changes in Shareholders' Equity
None
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFGSGDIDDGBGUS
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