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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.001 | 0.001 | 0.001 | 0.00 | 00:00:00 |
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RNS Number:0773S
Autobacs Seven Co.Ld
14 November 2003
November 14, 2003
Summary of Quick Financial Announcement of Consolidated Financial Information
For the Six Months Ended September 30, 2003
Company name : AUTOBACS SEVEN CO., LTD.
Code Number : 9832
(URL http://www.autobacs.co.jp/)
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 semiannual accounts :
November 14, 2003
Stock Exchange Listings : Tokyo, Osaka, and London.
Adoption of accounting principles generally accepted in the U.S.A. : None
1. Results for the interim term (From April 1, 2003 to September 30, 2003)
(Note: Amounts less than 1 million Yen have been rounded down)
(1) Results of operations:
(Unit: Millions of Yen except for per share information, % of increase or
decrease(-))
Net sales Operating income Ordinary income
Six months ended
September 30,2003 107,746 -1.2% 1,935 -42.3% 3,853 -17.3%
Six months ended
September 30,2002 109,052 1.4% 3,356 -25.1% 4,659 -22.2%
Year ended
March 31,2003 230,478 7,652 10,273
Net income Net income pershare-Basic Net income pershare-Diluted
(Unit:Yen) (Unit:Yen)
Six months ended
September 30,2003 1,773 -16.9% 49.24 -
Six months ended
September 30,2002 2,133 -35.5% 56.93 -
Year ended
March 31,2003 4,003 106.76 -
Notes: 1. Equity income on affiliates: -138 million Yen
(For the 6 months ended September 30, 2002: -8 million Yen)
2. The weighted average number of shares used in computing net income per
share: 36,008,363
(For the 6 months ended September 30,2002: 37,475,996)
3. Changes in Accounting policies: None
4. Regarding net sales, operating income, ordinary income and net income,
percentages show changes from the previous interim.
(2) Financial position:
(Unit: Millions of Yen except for per share information)
Total Shareholders' Equity ratio Equity per
assets equity Share(Unit:Yen)
Six months ended
September 30,2003 197,048 145,638 73.9% 4,072.82
Six months ended
September 30,2002 188,986 146,783 77.7% 3,916.97
Year ended
March 31,2003 187,138 145,817 77.9% 3,979.02
Note: Number of shares outstanding: 35,758,553
(For the six months ended September 30, 2002: 37,473,679)
(3) Statements of cash flows:
(Unit: Millions of Yen)
Operating Investing Financing Ending
activities activities activities balances of cash and
cash equivalents
Six months ended
September 30,2003 5,039 -1,543 6,411 33,340
Six months ended
September 30,2002 2,858 -1,154 -2,744 31,555
Year ended
March 31,2003 7,925 -8,002 -9,098 23,437
(4) Scope of consolidation and application of equity method:
Number of consolidated subsidiaries 66
Number of non-consolidated subsidiaries None
Number of affiliated companies to which
equity method was applied 10
(5) Change in scope of consolidation and application of equity method:
Consolidation Addition 3
Exclusion 4
Equity method Addition 3
Exclusion 1
2. Forecast for the current financial year (April 1,2003 to March 31,2004)
(Unit: Millions of Yen)
Net sales Ordinary income Net income
Annual 228,000 10,300 4,900
Note: 1. The estimated net income per share for the year ending March 31,2004
will be 137.03 Yen.
2. This forecast is based on the assumptions, estimates, recognition of facts
and 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
(Millions of Yen)
Assets (September 30,2003) (September 30,2002) (March 31,2003)
Amount Ratio Amount Ratio Amount Ratio
% % %
Current assets
Cash and deposits 33,486 31,879 23,681
Trade notes and accounts receivable 10,059 10,862 12,272
Marketable securities 6,302 3,100 5,721
Inventories 19,854 18,528 17,549
Deferred income taxes 2,545 2,599 2,240
Other receivables 12,003 10,972 13,302
Other current assets 3,674 3,701 3,159
Allowance for doubtful receivables (1,890) (1,890) (2,100)
Total current assets 86,035 43.7 79,754 42.2 75,828 40.5
Fixed assets
Tangible fixed assets
Buildings and structures 27,289 22,418 26,370
Land 25,981 25,011 25,014
Other 8,794 8,216 8,079
Total tangible fixed assets 62,065 55,647 59,463
Intangible assets
Goodwill 363 14 -
Software 2,053 2,621 2,327
Other 420 514 468
Total intangible assets 2,837 3,150 2,795
Investments and other assets
Investment securities 13,858 17,485 16,128
Long-term loans 3,862 4,353 3,614
Deferred income taxes 2,917 2,841 3,182
Long-term rental deposits 24,946 25,775 25,375
Other 1,739 2,027 2,069
Allowance for doubtful receivables (1,214) (2,049) (1,319)
Total investments and other assets 46,110 50,433 49,051
Total fixed assets 111,013 56.3 109,231 57.8 111,310 59.5
Total assets 197,048 100.0 188,986 100.0 187,138 100.0
(Millions of Yen)
Liabilities and Shareholders' Equity (September 30,2003) (September 30,2002) (March 31,2003)
Amount Ratio Amount Ratio Amount Ratio
% % %
Current liabilities
Trade notes and accounts 13,454 12,587 13,109
payable-trade
Short-term borrowings 2,275 5,047 3,111
Accrued income taxes 2,627 2,519 2,342
Other 11,028 9,820 11,397
Total current liabilities 29,385 14.9 29,975 15.9 29,961 16.0
Long-term liabilities
Bonds 8 - -
Zero Coupon Convertible Bonds 10,000 - -
Long-term borrowings 2,208 2,559 2,019
Liability for retirement benefits 1,374 1,379 1,299
Accrued retirement benefits for
directors and corporate auditors
159 214 233
Other 7,756 6,881 7,281
Total long-term liabilities 21,508 10.9 11,035 5.8 10,834 5.8
Total liabilities 50,893 25.8 41,010 21.7 40,796 21.8
Minority interests 516 0.3 1,192 0.6 524 0.3
Shareholders' equity
Common stock 31,958 16.2 31,958 16.9 31,958 17.1
Capital Surplus 32,241 16.4 31,719 16.8 32,241 17.2
Retained earnings 85,624 43.4 83,328 44.1 84,523 45.2
Net unrealized gains (losses) on 322 0.2 (83) (0.0) (126)
investment securities
(0.1)
Foreign currency translation (120) (0.1) (102) (0.1) (179) (0.1)
adjustments
Treasury stock, at cost (4,388) (2.2) (36) (0.0) (2,601) (1.4)
Total shareholders' equity 145,638 73.9 146,783 77.7 145,817 77.9
Total liabilities, minority interests
and shareholders' equity 197,048 100.0 188,986 100.0 187,138 100.0
Consolidated Statements of Income
(Millions of Yen)
Six months ended Six months ended Year ended March
September 30,2003 September 30,2002 31,2003
Amount Ratio Amount Ratio Amount Ratio
% % %
Net sales 107,746 100.0 109,052 100.0 230,478 100.0
Cost of goods sold 75,575 70.1 77,408 71.0 163,457 70.9
Gross Profit 32,171 29.9 31,643 29.0 67,021 29.1
Selling, general and
administrative expenses 30,235 28.1 28,286 25.9 59,369 25.8
Operating income 1,935 1.8 3,356 3.1 7,652 3.3
Non-operating income
Interest income 106 191 378
Rental income 1,163 710 1,778
Lease revenue-system equipment 377 377 805
Other 1,710 1,376 3,247
Total non-operating income 3,359 3.1 2,655 2.4 6,210 2.7
Non-operating expenses
Interest expenses 57 50 152
Loss on disposal of fixed assets 92 135 421
Loss on lease cancellation 11 144 153
Other 1,279 1,022 2,862
Total non-operating expenses 1,441 1.3 1,352 1.2 3,589 1.5
Ordinary income 3,853 3.6 4,659 4.3 10,273 4.5
Extraordinary gains
Reversal of allowance for
doubtful receivables 225 245 470
Other - 9 9
Total Extraordinary gains 225 0.2 255 0.2 480 0.2
Extraordinary losses
Loss on sale of investment securities - 13 45
Write down of investment securities 76 89 330
Other - 9 760
Total Extraordinary losses 76 0.1 112 0.1 1,137 0.5
Income before income taxes and 4,002 3.7 4,802 4.4 9,616 4.2
minority interests
Income taxes-current 2,593 2,629 5,392
Income taxes-deferred (356) 67 300
Minority interests (8) 0.0 (28) 0.0 (80) 0.0
Net income 1,773 1.6 2,133 2.0 4,003 1.7
Consolidated Statements of Capital Surplus and Retained Earnings
(Millions of Yen)
Six months ended Six months ended Year ended March
September 30,2003 September 30,2002 31,2003
(Capital surplus)
Capital surplus at beginning of year 32,241 31,719 31,719
Increase in capital surplus
Issuance of common stock - - 522
Gain on disposal of treasury stock - - 0
Capital surplus at end of period/year 32,241 31,719 32,241
(Retained earnings)
Retained earnings at beginning of year 84,523 81,901 81,901
Increase in retained earnings
Net income 1,773 2,133 4,003
Decrease in retained earnings (1,349)
Cash dividends (659) (674)
Bonuses to directors and corporate auditors (10) (31) (31)
Loss on disposal of treasury stock (2) - -
Retained earnings at end of period / year 85,624 83,328 84,523
Consolidated Statements of Cash Flows
(Millions of Yen)
Six months ended Six months ended Year ended March
September 31,2003 September 31,2002 31,2003
Amount Amount Amount
Operating Activities:
Net income before income taxes and minority interests 4,002 4,802 9,616
Depreciation and amortization 2,802 2,545 5,394
Amortization of goodwill 119 144 114
Reversal of doubtful receivables (315) (224) (507)
Reversal of retirement benefits (45) (36) (116)
Decrease in retirement benefit for directors and (74) (46)
corporate auditors
(27)
Interest and dividend income (174) (202) (422)
Interest expenses 57 50 152
Equity loss (income) on affiliates 138 8 (58)
Lease revenue (995) (804) (1,818)
Decrease (Increase) in trade notes and accounts 3,582 3,546 (130)
receivable
Increase in inventories (2,112) (2,046) (842)
Decrease in trade notes and accounts payable (210) (1,713) (1,480)
Others 198 (982) 2,844
Subtotal 6,972 5,041 12,718
Interest and dividend received 434 365 806
Interest paid (57) (52) (154)
Taxes paid (2,309) (2,496) (5,445)
Net cash provided by operating activities 5,039 2,858 7,925
Investing Activities:
Payment for marketable securities (99) (99) (99)
Proceeds from redemption and sales of marketable 99 1,599 1,599
securities
Payment for tangible and intangible fixed assets other (4,275) (2,842) (9,728)
than software
Payment for software development (222) (402) (603)
Payment for investment securities (1,797) (4,714) (10,235)
Proceeds from redemption and sales of investment 4,026 3,226 7,182
securities
Net cash-out for (cash-in for) acquisition of (988) 242 316
subsidiaries
Proceeds from loans (1,158) (200) (549)
Collection of loans 1,502 947 1,996
Payment for rental deposits (371) (683) (1,408)
Collection of rental deposits 181 319 888
Lease revenue 776 638 1,459
Others 784 814 1,179
Net cash used in investing activities (1,543) (1,154) (8,002)
Financing Activities:
Net decrease in short-term borrowings (780) (365) (2,562)
Proceeds from long-term borrowings 120 573 773
Repayment of long-term borrowings (516) (2,357) (3,467)
Proceeds from issuance of zero coupon convertible 10,000 - -
bonds
Repurchase of common stock (1,792) - (2,575)
Dividends paid (659) (674) (1,349)
Others 39 79 82
Net cash provided by (used in) financing activities 6,411 (2,744) (9,098)
Effect of exchange rate changes on cash and cash 7 (42) (25)
equivalents
Net increase (decrease) in cash and cash equivalents 9,915 (1,082) (9,200)
Cash and cash equivalents, beginning of period / year 23,437 32,835 32,835
Decrease in cash and cash equivalents exclusion of a (12) (197) (197)
consolidated subsidiary
Cash and cash equivalents, end of period / year 33,340 31,555 23,437
Consolidated Sales Component and Percentage by Division
(Millions of Yen)
Six months ended Six months ended Increase or Year ended March
September 30,2003 September 30,2002 (decrease) 31,2003
Divisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio
% % % %
Wholesale 64,114 59.5 65,621 60.2 (1,506) (2.3) 137,267 59.6
Retail 43,631 40.5 43,430 39.8 200 0.5 93,211 40.4
Total 107,746 100.0 109,052 100.0 (1,305) (1.2) 230,478 100.0
Consolidated Sales Component and Percentage by Product Category
(Millions of Yen)
Six months ended Six months ended Increase or Year ended March
September 30,2003 September 30,2002 (decrease) 31,2003
Products Amount Ratio Amount Ratio Amount Ratio Amount Ratio
% % % %
Tires and wheels 18,514 17.2 19,388 17.8 (873) (4.5) 47,243 20.5
Car electronics 34,175 31.7 35,598 32.6 (1,422) (4.0) 68,672 29.8
Oil and batteries 8,639 8.0 9,639 8.8 (999) (10.4) 19,253 8.3
Car exterior items 10,429 9.7 10,850 10.0 (421) (3.9) 25,969 11.3
Car interior items 10,681 9.9 10,987 10.1 (306) (2.8) 20,776 9.0
Motor sports 25,305 23.5 22,587 20.7 2,718 12.0 48,564 21.1
goods and others
Total 107,746 100.0 109,052 100.0 (1,305) (1.2) 230,478 100.0
This information is provided by RNS
The company news service from the London Stock Exchange
END
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