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Share Name | Share Symbol | Market | Type |
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Lepidico Ltd | TG:AUB | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.0016 | 0.001 | 0.0018 | 0.00 | 06:32:01 |
RNS Number:3723L Autobacs Seven Co.Ld 21 May 2003 May 21, 2003 Summary of Quick Financial Announcement of Consolidated Financial Information For the Year Ended March 31,2003 Company name: AUTOBACS SEVEN CO., LTD. Code Number : 9832 (URL http://www.autobacs-seven.com/) Headquarters : Tokyo, Japan Company Representative: Koichi Sumino, Representative Director Contact for further information: Takashi Matsuo, Director Telephone:+81-3-3454-0062 Date of the Board of Directors' meeting for approval of annual accounts: May 21, 2003 Stock Exchange Listings: First Section, both of Tokyo and Osaka. London. Adoption of accounting principles generally accepted in the U.S.A.: None 1. Results for the fiscal term (From April 1, 2002 to March 31, 2003) (Note: Amounts less than Yen1 million have been rounded down) (1) Results of operations: (Unit: Millions of Yen except for per share information) Net sales Operating income Ordinary income % of increase or decrease( - ) Year ended March 31,2003 230,478 1.2% 7,652 -20.0% 10,273 -16.3% Year ended March 31,2002 227,737 1.0% 9,569 -22.7% 12,271 -17.5% Net income Net income per Net income per % of increase or share-Basic share-Diluted decrease( - ) Year ended March 31,2003 4,003 -27.5% Yen 106.76 - Year ended March 31,2002 5,520 -28.9% Yen 147.28 - Net income to Ordinary income Ordinary income Shareholders' equity to total assets to net sales Year ended March 31,2003 2.7% 5.4% 4.5% Year ended March 31,2002 3.9% 6.4% 5.4% Notes: 1) Equity income on affiliates: Yen 58 million (For the year ended March 31, 2002: Yen 32 million) 2) The weighted average number of shares used in computing net income per share: 37,395,147 (For the year ended March 31, 2002: 37,481,289) 3) Changes in Accounting policies: None. 4) Regarding net sales, operating income, ordinary income and net income, percentages show changes from the previous year. (2) Financial position: (Unit: Millions of Yen except for per share information) Total Shareholders' Equity ratio Equity per assets equity share Year ended March 31,2003 187,138 145,817 77.9% Yen 3,979.02 Year ended March 31,2002 190,815 145,391 76.2% Yen 3,879.09 Note: Number of shares outstanding: 36,632,540 (For the year ended March 31, 2002: 37,480,850) (3) Statements of cash flows: (Unit: Millions of Yen) Ending Operating Investing Financing balances of cash and activities activities activities cash equivalents Year ended March 31,2003 7,925 (8,002) (9,098) 23,437 Year ended March 31,2002 11,795 (8,856) (5,296) 32,835 (4) Scope of consolidation and application of equity method: Number of consolidated subsidiaries 67 Number of non-consolidated subsidiaries None Number of affiliated companies to which equity method was applied 8 (5) Change in scope of consolidation and application of equity method: Consolidation Addition 14 Exclusion 10 Equity method Addition 1 Exclusion None 2. Forecast for the next year (April 1,2003 to March 31,2004) (Unit: Millions of Yen) Net sales Ordinary income Net income Semiannual 110,000 4,900 2,300 Annual 234,000 10,700 5,000 Note: The estimated net income per share for the year ending March 31,2004 will be Yen 136.49 This forecasts are made based on the assumptions, estimates, recognition of facts, projections which are currently available to the management of the Company. The actual results may differ materially from the projected figures in this release due to differences in actual experience or changes in assumptions. Consolidated Balance Sheets (Unit: Millions of Yen) Assets (March31, 2003) (March31, 2002) Amount Ratio Amount Ratio % % Current assets Cash and deposits 23,681 33,198 Trade notes and accounts receivable 12,272 12,859 Marketable securities 5,721 3,760 Inventories 17,549 15,918 Deferred tax assets 2,240 2,832 Short-term loans 1,333 860 Accounts receivable-other 13,302 12,824 Other current assets 1,826 1,965 Allowance for doubtful receivables (2,100) (2,177) Total current assets 75,828 40.5 82,042 43.0 Fixed assets Tangible fixed assets Buildings and structures 26,370 22,646 Machinery, equipment and vehicle 1,598 1,638 Tools, furniture and fixtures 5,906 5,614 Land 25,014 23,762 Construction in progress 574 285 Total tangible fixed assets 59,463 31.8 53,948 28.3 Intangible fixed assets Goodwill - 28 Software 2,327 2,878 Other intangible fixed assets 468 523 Total intangible fixed assets 2,795 1.5 3,430 1.8 Investments Investment securities 16,128 16,779 Long-term loans 3,614 5,841 Deferred tax assets 3,182 2,886 Rental deposits 25,375 25,851 Other investments 2,069 2,192 Allowance for doubtful receivables (1,319) (2,156) Total investments 49,051 26.2 51,395 26.9 Total fixed assets 111,310 59.5 108,773 57.0 Total assets 187,138 100.0 190,815 100.0 (Unit: Millions of Yen) Liabilities and Shareholders' equity (March31, 2003) (March31, 2002) Amount Ratio Amount Ratio % % Current liabilities Trade notes and accounts payable-trade 13,109 14,170 Short-term borrowings 3,111 4,917 Income taxes payable 2,342 2,394 Other current liabilities 11,397 11,985 Total current liabilities 29,961 16.0 33,468 17.5 Long-term liabilities Long-term debt 2,019 2,316 Liability for retirement benefits 1,299 1,385 Accrued retirement benefits for directors and 233 261 corporate auditors Goodwill 42 - Other long-term liabilities 7,239 6,735 Total Long-term liabilities 10,834 5.8 10,697 5.6 Total liabilities 40,796 21.8 44,166 23.1 Minority interests Minority interests 524 0.3 1,257 0.7 Shareholders' equity Common stock 31,958 17.1 - - Capital Surplus 32,241 17.2 - - Retained earnings 84,523 45.2 - - Net unrealized loss on investment securities (126) (0.1) - - Foreign currency translation adjustments (179) (0.1) - - Treasury stock, at cost (2,601) (1.4) - - Total shareholders' equity 145,817 77.9 - - Common stock - - 31,958 16.8 Additional paid-in capital - - 31,719 16.6 Consolidated Retained earnings - - 81,901 42.9 Net unrealized loss on investment securities - - (169) (0.1) Foreign currency translation adjustments - - (16) (0.0) Treasury stock, at cost - - (1) (0.0) Total shareholders' equity - - 145,391 76.2 Total liabilities, minority interests and 187,138 100.0 190,815 100.0 shareholders' equity Consolidated Statements of Income (Unit: Millions of Yen) Year ended Year ended March 31,2003 March 31,2002 Amount Ratio Amount Ratio % % Net sales 230,478 100.0 227,737 100.0 Cost of good sold 163,457 70.9 163,056 71.6 Gross profit 67,021 29.1 64,680 28.4 Selling, general and administrative expenses 59,369 25.8 55,111 24.2 Operating income 7,652 3.3 9,569 4.2 Non-operating income Interest income 378 454 Dividend income 43 39 Equity income on affiliates 58 32 Rental income 1,778 1,538 Lease revenue - system equipment 805 - Other income 3,145 3,016 Total non-operating income 6,210 2.7 5,081 2.2 Non-operating expenses Interest expenses 152 198 Loss on disposal of fixed assets 421 253 Other expenses 3,016 1,928 Total non-operating expenses 3,589 1.5 2,379 1.0 Ordinary income 10,273 4.5 12,271 5.4 Extraordinary gains Gain on sale of investment securities 9 - Reversal of allowance for doubtful receivables 470 891 Others - 8 Total extraordinary gains 480 0.2 900 0.4 Extraordinary losses Loss on sale of fixed assets - 0 Loss on disposal of fixed assets - 3 Write down of land 189 - Loss on sale of investment securities 45 1,697 Write down of investment securities 330 1,083 Extraordinary retirement benefits 377 - Loss on store arrangement 184 - Write down of golf membership - 127 Termination losses of pension and severance payment plan of subsidiaries 9 92 Others - 17 Total extraordinary losses 1,137 0.5 3,021 1.3 Income before income taxes and minority interests 9,616 4.2 10,149 4.5 Income taxes - current 5,392 2.4 6,058 2.7 Income taxes - deferred 300 0.1 (1,181) (0.5) Loss of minority interests 80 0.0 247 0.1 Net income 4,003 1.7 5,520 2.4 Consolidated Statements of Capital Surplus and Retained Earnings (Unit: Millions of Yen) Year ended Year ended March 31,2003 March 31,2002 Capital surplus Balance at beginning of year 31,719 - Increase in capital surplus Issuance of common stock 522 - Disposal of treasury stock 0 - Balance at end of year 32,241 - Retained earnings Balance at beginning of year 81,901 - Increase in retained earnings Net income 4,003 - Decrease in retained earnings Cash dividends (1,349) - Bonuses to directors and corporate auditors (31) - Balance at end of year 84,523 - Consolidated retained earnings Retained earnings, beginning of year - 77,751 Increase in retained earnings New application of equity method for affiliated companies - 32 Decrease in retained earnings Cash dividends - (1,349) Bonuses to directors and corporate auditors - (53) Net income - 5,520 Retained earnings, end of year - 81,901 Consolidated Statements of Cash Flows (Unit: Millions of Yen) Year ended Year ended March31, 2003 March31, 2002 Amount Amount Operating Activities: Net income before income taxes and minority interests 9,616 10,149 Depreciation and amortization 5,394 5,409 Amortization of goodwill 114 238 Increase (Decrease) in allowance for doubtful receivables (507) 440 Increase (Decrease) in retirement benefits (116) 39 Increase (Decrease) in retirement benefits for directors and corporate auditors (27) 27 Interest and dividend income (422) (494) Interest expenses 152 198 Gain on foreign currency translation (69) (15) Equity income on affiliates (58) (32) Lease revenue (1,818) (1,943) (Gain) Loss on sale of marketable securities 0 99 Loss on sale or disposal of fixed assets 513 256 Loss on sale of investment securities 45 1,697 Write-down of investment securities 329 1,083 Write-down of golf membership - 127 Increase in trade notes and accounts receivable (130) (71) Increase in inventories (842) (1,087) Increase (Decrease) in trade notes and accounts payable (1,480) 925 Payment for bonuses for directors and corporate auditors (31) (53) Others 2,056 2,519 Subtotal 12,718 19,514 Interest and dividend received 806 858 Interest paid (154) (196) Taxes paid (5,445) (8,380) Net cash provided by operating activities 7,925 11,795 Investing Activities: Decrease in time deposit 325 67 Payment for purchase of marketable securities (99) (5,187) Proceeds from sales of marketable securities 1,599 6,153 Payment for tangible and intangible fixed assets other than software (9,728) (7,927) Proceeds from sale of tangible and intangible fixed assets other than software 202 182 Payment for software (603) (842) Payment for investment securities (10,235) (9,760) Proceeds from sale of investment securities 7,182 6,295 Cash of subsidiaries acquired 316 441 Proceeds from loans (549) (947) Collection of loans 1,996 2,411 Payment for rental deposits (1,408) (1,840) Collection of rental deposits 888 481 Lease revenue 1,459 1,549 Others 652 66 Net cash used in investing activities (8,002) (8,856) Financing Activities: Net decrease in short-term borrowings (2,562) (2,286) Proceeds from long-term debt 773 1,153 Repayments of long-term debt (3,467) (2,951) Repurchase of common stock (2,575) (1) Proceeds from issuance of subsidiary stock 83 145 Dividends paid (1,349) (1,349) Others 0 (6) Net cash provided by (used in) financing activities (9,098) (5,296) Effect of exchange rate changes on cash and cash equivalents (25) 73 Net decrease in cash and cash equivalents (9,200) (2,284) Cash and cash equivalents, beginning of year 32,835 35,575 Net increase in cash and cash equivalents from merger - 8 Decrease in cash and cash equivalents exclusion of consolidated subsidiaries (197) (464) Cash and cash equivalents, end of year 23,437 32,835 Consolidated Sales Component and Percentage by Division (Unit: Millions of Yen) Year ended Year ended Increase March31, 2003 March31, 2002 or (Decrease) Divisions Amount Ratio Amount Ratio Ratio % % % Wholesale 137,267 59.6 138,366 60.8 (0.8) Retail 93,211 40.4 89,370 39.2 4.3 Total 230,478 100.0 227,737 100.0 1.2 Consolidated Sales Component and Percentage by Product Category (Unit: Millions of Yen) Year ended Year ended Increase March 31, 2003 March31, 2002 or (Decrease) Products Amount Ratio Amount Ratio Ratio % % % Tires and wheels 47,243 20.5 48,340 21.3 (2.3) Car electronics 68,672 29.8 67,880 29.8 1.2 Oil and batteries 19,253 8.3 20,295 8.9 (5.1) Car exterior items 25,969 11.3 27,364 12.0 (5.1) Car interior items 20,776 9.0 19,853 8.7 4.6 Motor sports goods and others 48,564 21.1 44,002 19.3 10.4 Total 230,478 100.0 227,737 100.0 1.2 New Executive Appointments (1) New Candidate for Board of Director: (as of June 26, 2003) Setsuo Wakuda (current Executive Officer, In charge of Franchise Business Strategy) Hidehiro Ide (current Executive Officer, In charge of Supporting Franchisee Corporations) Yasuhiro Tsunemori (current Executive Officer, In charge of Merchandising Strategy) Hideaki Yokoi (current Executive Officer, In charge of Business Development) (2) Resigning from Board of Directors: (as of June 26, 2003) Tomikazu Nishihara (current Director, to be appointed Advisor of the Board) Hiroshi Yamamoto (current Director, to be appointed Advisor of the Board) New Management (as of June 26, 2003) < Board of Directors > Koichi Sumino Representative Director and Chief Executive Officer Akira Nogami Director and Chief Operating Officer Hiroshi Sumino Director Kozo Sumino Director Takashi Matsuo Director Setsuo Wakuda Director Hidehiro Ide Director Yasuhiro Tsunemori Director Hideaki Yokoi Director < Auditors > Kotaro Morino Senior Corporate Auditor (Full-time) Katsushi Koyama Senior Corporate Auditor (Full-time) Harukuni Yoshida Senior Corporate Auditor (Full-time) Kenji Ogawa Corporate Auditor (Note) The above New Management is subject to the approval of the shareholders at the Annual General Meeting scheduled to be held on June 26, 2003. < Corporate Officers > Satoshi Kohira In charge of AUTOBACS Business Development and General Manager of Store Support Planning Office Kazuyoshi Sawada In charge of Car Inspection Business Promotion and Maintenance Service Skill Deveropment Shuichi Shino In charge of Store Development Strategy Masachika Sumikura In charge of SUPER AUTOBACS Business Development and Project Manager of SA Planning & Development Project Kenichi Takeda In charge of Sales Promotion Yuzuru Toide In charge of Northern Japan Store Support Division Naohumi Kamata In charge of South Kanto Store Support Division Yoshihiro Emoto In charge of North Kanto Store Support Division Hironori Morimoto In charge of Chubu Store Support Division Kosuke Kaya In charge of Kansai Store Support Division Teruyuki Matsumura In charge of Southern Japan Store Support Division Kiomi Kobayashi In charge of Overseas Store Support Division Yoshirou Miyama In charge of AUTOBACS C@RS (cars) Division Masahiro Morimoto In charge of Used Parts Sales Division This information is provided by RNS The company news service from the London Stock Exchange END FR SEWFFFSDSEFI
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