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Name | Symbol | Market | Type |
---|---|---|---|
Advantest Corporation (PK) | USOTC:ATEYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.53 | -7.30% | 32.15 | 31.76 | 32.29 | 32.18 | 31.52 | 32.05 | 579,918 | 21:06:02 |
|
1.
|
English translation of the Japanese-language FY2015 Second Quarter Consolidated Financial Results for the period ended September 30, 2015, as filed by the registrant with the Tokyo Stock Exchange on October 26, 2015.
|
|
2.
|
English translation of a press release dated October 26, 2015 regarding Revisions of Earnings Forecast for the Fiscal Year Ending March 31, 2016.
|
Advantest Corporation | ||||
By: | /s/ Hiroshi Nakamura | |||
Name: | Hiroshi Nakamura | |||
Title: | Director, Managing Executive Officer | |||
Company name
|
:
|
Advantest Corporation
|
(URL http://www.advantest.com/US/investors)
|
||
Stock exchange on which shares are listed
|
:
|
First section of the Tokyo Stock Exchange
|
Stock code number
|
:
|
6857
|
Company representative
|
:
|
Shinichiro Kuroe, Representative Director, President and CEO
|
Contact person
|
:
|
Hiroshi Nakamura, Director, Managing Executive Officer and Executive Vice President, Corporate Administration Group
|
(03) 3214-7500
|
||
Quarterly Report Filing Date (as planned)
|
:
|
November 13, 2015
|
Dividend Payable Date (as planned)
|
:
|
December 1, 2015
|
Quarterly Results Supplemental Materials
|
:
|
Yes
|
Quarterly Results Presentation Meeting
|
:
|
Yes
|
(1)
|
Consolidated Financial Results (Accumulated)
|
Net sales
|
Operating income
|
Income before
income taxes
|
Net income
|
|||||||||||||||||||||
|
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
||||||||||||||||
FY2015 Q2
|
86,665 | 9.8 | 6,748 | 5.6 | 6,305 | (21.4) | 4,431 | (3.4) | ||||||||||||||||
FY2014 Q2
|
78,943 | 32.4 | 6,392 |
-
|
8,017 |
-
|
4,585 |
-
|
Net income per share- basic
|
Net income per share- diluted
|
||||||||||||
|
|
Yen
|
|
Yen
|
|||||||||
FY2015 Q2
|
25.38 | 22.94 | |||||||||||
FY2014 Q2
|
26.32
|
23.79
|
(2)
|
Consolidated Financial Position
|
Total assets
|
Net assets
|
Stockholders’ Equity
|
Equity-to-assets ratio
|
|||||||||||||||||||||
|
|
Million yen
|
|
Million yen
|
Million yen
|
|
%
|
|||||||||||||||||
FY2015 Q2
|
259,770 | 143,719 | 143,719 | 55.3 | ||||||||||||||||||||
FY2014
|
273,041 | 140,938 | 140,938 | 51.6 |
|
Dividend per share
|
||||||||||||||||||
(Record Date)
|
First quarter end
|
Second quarter end
|
Third quarter end
|
Year end
|
Annual total
|
||||||||||||||
yen
|
yen
|
yen
|
yen
|
yen
|
|||||||||||||||
FY2014
|
–
|
5.00 |
–
|
10.00 | 15.00 | ||||||||||||||
FY2015
|
–
|
10.00 | N/A | N/A | N/A | ||||||||||||||
FY2015
(forecast)
|
N/A | N/A |
–
|
10.00 | 20.00 |
Net sales
|
Operating
income
|
Income before
income taxes
|
Net income
|
Net income per share
|
|||||||||||||||||||||||
FY2015 |
Million yen
|
%
|
Million yen
|
%
|
Million yen
|
%
|
Million yen
|
%
|
Yen
|
||||||||||||||||||
160,000 | (2.0 | ) | 10,000 | (31.6 | ) | 9,500 | (49.6 | ) | 6,700 | (48.3 | ) | 38.38 |
(1)
|
Material changes in subsidiaries during this period (changes in scope of consolidation resulting from changes in subsidiaries): No
|
(2)
|
Use of simplified accounting method and special accounting policy for quarterly consolidated financial statements: Yes
(Note) Please see “2. Others” on page 7 for details.
|
(3)
|
Accounting changes:
|
|
1)
|
Changes based on revisions of accounting standard: No
|
|
2)
|
Changes other than 1) above: No
|
(4)
|
Number of issued and outstanding stock (common stock):
|
|
1)
|
Number of issued and outstanding stock at the end of each fiscal period (including treasury stock):
FY2015 Q2 199,566,770 shares; FY2014 199,566,770 shares.
|
|
2)
|
Number of treasury stock at the end of each fiscal period:
FY2015 Q2 24,993,746 shares; FY2014 25,020,294 shares.
|
|
3)
|
Average number of outstanding stock for each period (cumulative term):
FY2015 Q2 174,565,559 shares; FY2014 Q2 174,189,320 shares.
|
1.
|
Business Results
|
P. 4
|
||
(1)
|
Analysis of Business Results
|
P. 4
|
||
(2)
|
Analysis of Financial Condition
|
P. 6
|
||
(3)
|
Prospects for the Current Fiscal Year
|
P. 6
|
||
2.
|
Others
|
P. 7
|
||
(1)
|
Use of Simplified Accounting Method and Special Accounting Policy for Quarterly Consolidated Financial Statements
|
P. 7
|
||
3.
|
Consolidated Financial Statements
|
P. 8
|
||
(1)
|
Consolidated Balance Sheets (Unaudited)
|
P. 8
|
||
(2)
|
Consolidated Statements of Operations (Unaudited)
|
P.10
|
||
(3)
|
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
|
P.12
|
||
(4)
|
Consolidated Statements of Cash Flows (Unaudited)
|
P.13
|
||
(5)
|
Notes to Consolidated Financial Statements
|
P.14
|
||
(Notes on Going Concern)
|
P.14
|
|||
(Notes on Significant Changes to Stockholders’ Equity)
|
P.14
|
|||
(Segment Information)
|
P.14
|
(in billion yen) | ||||||||||||
Six months ended
September 30, 2014
|
Six months ended
September 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
||||||||||
Orders received
|
87.4 | 71.1 | (18.7 | %) | ||||||||
Net sales
|
78.9 | 86.7 | 9.8 | % | ||||||||
Operating income
|
6.4 | 6.7 | 5.6 | % | ||||||||
Income before income taxes
|
8.0 | 6.3 | (21.4 | %) | ||||||||
Net income
|
4.6 | 4.4 | (3.4 | %) |
(in billion yen) | ||||||||||||
Six months ended
September 30, 2014
|
Six months ended
September 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
||||||||||
Orders received
|
63.9 | 39.0 | (38.9 | %) | ||||||||
Net sales
|
55.0 | 51.2 | (6.9 | %) | ||||||||
Operating income
|
7.9 | 2.8 | (64.8 | %) |
(in billion yen) | |||||||||||||
Six months ended
September 30, 2014
|
Six months ended
September 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
|||||||||||
Orders received
|
11.9 | 17.8 | 49.7 | % | |||||||||
Net sales
|
11.1 | 20.3 | 82.5 | % | |||||||||
Operating income
|
0.7 | 4.5 |
6.3 times
|
(in billion yen) | ||||||||||||
Six months ended
September 30, 2014
|
Six months ended
September 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
||||||||||
Orders received
|
11.7 | 14.2 | 21.7 | % | ||||||||
Net sales
|
12.9 | 15.2 | 18.0 | % | ||||||||
Operating income
|
1.6 | 2.3 | 48.7 | % |
Yen (Millions)
|
||||||||
Assets
|
March 31, 2015
|
September 30, 2015
|
||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
¥ | 97,574 | 86,506 | |||||
Trade receivables, net
|
24,960 | 24,219 | ||||||
Inventories
|
37,210 | 36,572 | ||||||
Other current assets
|
5,057 | 6,393 | ||||||
Total current assets
|
164,801 | 153,690 | ||||||
Investment securities
|
2,249 | 2,088 | ||||||
Property, plant and equipment, net
|
38,480 | 36,998 | ||||||
Intangible assets, net
|
4,085 | 3,691 | ||||||
Goodwill
|
54,590 | 54,495 | ||||||
Other assets
|
8,836 | 8,808 | ||||||
Total assets
|
¥ | 273,041 | 259,770 |
Yen (Millions)
|
||||||||
Liabilities and Stockholders’ Equity
|
March 31, 2015
|
September 30, 2015
|
||||||
Current liabilities:
|
||||||||
Trade accounts payable
|
¥ | 18,101 | 13,123 | |||||
Accrued expenses
|
10,482 | 9,725 | ||||||
Income taxes payable
|
2,106 | 2,214 | ||||||
Accrued warranty expenses
|
1,525 | 1,627 | ||||||
Corporate bonds - current portion
|
10,000 | — | ||||||
Customer prepayments
|
4,900 | 3,459 | ||||||
Other current liabilities
|
2,572 | 2,939 | ||||||
Total current liabilities
|
49,686 | 33,087 | ||||||
Corporate bonds
|
15,000 | 15,000 | ||||||
Convertible bonds
|
30,119 | 30,104 | ||||||
Accrued pension and severance costs
|
35,034 | 35,982 | ||||||
Other liabilities
|
2,264 | 1,878 | ||||||
Total liabilities
|
132,103 | 116,051 | ||||||
Commitments and contingent liabilities
|
||||||||
Stockholders’ equity:
|
||||||||
Common stock
|
32,363 | 32,363 | ||||||
Capital surplus
|
43,770 | 43,761 | ||||||
Retained earnings
|
141,104 | 143,730 | ||||||
Accumulated other comprehensive income
|
18,387 | 18,450 | ||||||
Treasury stock
|
(94,686 | ) | (94,585 | ) | ||||
Total stockholders’ equity
|
140,938 | 143,719 | ||||||
Total liabilities and stockholders’ equity
|
¥ | 273,041 | 259,770 |
Yen (Millions)
|
||||||||
Six months ended
|
Six months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Net sales
|
¥ | 78,943 | 86,665 | |||||
Cost of sales
|
35,697 | 39,715 | ||||||
Gross profit
|
43,246 | 46,950 | ||||||
Research and development expenses
|
15,022 | 15,978 | ||||||
Selling, general and administrative expenses
|
21,832 | 24,224 | ||||||
Operating income
|
6,392 | 6,748 | ||||||
Other income (expense):
|
||||||||
Interest and dividend income
|
88 | 154 | ||||||
Interest expense
|
(68 | ) | (55 | ) | ||||
Gain on sale of investment securities
|
559 | — | ||||||
Other, net
|
1,046 | (542 | ) | |||||
Total other income (expense)
|
1,625 | (443 | ) | |||||
Income before income taxes
|
8,017 | 6,305 | ||||||
Income taxes (benefit)
|
3,432 | 1,874 | ||||||
Net income
|
¥ | 4,585 | 4,431 | |||||
Yen
|
||||||||
Six months ended
|
Six months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Net income per share:
|
||||||||
Basic
|
¥ | 26.32 | 25.38 | |||||
Diluted
|
23.79 | 22.94 |
Yen (Millions)
|
||||||||
Three months ended
|
Three months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Net sales
|
¥ | 42,114 | 46,388 | |||||
Cost of sales
|
19,119 | 22,053 | ||||||
Gross profit
|
22,995 | 24,335 | ||||||
Research and development expenses
|
7,641 | 8,017 | ||||||
Selling, general and administrative expenses
|
11,364 | 12,279 | ||||||
Operating income
|
3,990 | 4,039 | ||||||
Other income (expense):
|
||||||||
Interest and dividend income
|
29 | 64 | ||||||
Interest expense
|
(34 | ) | (25 | ) | ||||
Other, net
|
840 | (576 | ) | |||||
Total other income (expense)
|
835 | (537 | ) | |||||
Income before income taxes
|
4,825 | 3,502 | ||||||
Income taxes (benefit)
|
1,579 | 974 | ||||||
Net income
|
¥ | 3,246 | 2,528 | |||||
Yen
|
||||||||
Three months ended
|
Three months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Net income per share:
|
||||||||
Basic
|
¥ | 18.64 | 14.48 | |||||
Diluted
|
16.85 | 13.10 |
Yen (Millions)
|
||||||||
Six months ended
|
Six months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Comprehensive income (loss)
|
||||||||
Net income
|
¥ | 4,585 | 4,431 | |||||
Other comprehensive income (loss), net of tax
|
||||||||
Foreign currency translation adjustments
|
6,661 | (554 | ) | |||||
Net unrealized gains (losses) on investment securities
|
(371 | ) | (121 | ) | ||||
Pension related adjustments
|
532 | 738 | ||||||
Total other comprehensive income (loss)
|
6,822 | 63 | ||||||
Total comprehensive income (loss)
|
¥ | 11,407 | 4,494 | |||||
Yen (Millions)
|
||||||||
Three months ended
|
Three months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Comprehensive income (loss)
|
||||||||
Net income
|
¥ | 3,246 | 2,528 | |||||
Other comprehensive income (loss), net of tax
|
||||||||
Foreign currency translation adjustments
|
8,727 | (3,931 | ) | |||||
Net unrealized gains (losses) on investment securities:
|
(116 | ) | (318 | ) | ||||
Pension related adjustments
|
252 | 373 | ||||||
Total other comprehensive income (loss)
|
8,863 | (3,876 | ) | |||||
Total comprehensive income (loss)
|
¥ | 12,109 | (1,348 | ) |
Yen (Millions)
|
||||||||
Six months ended
|
Six months ended
|
|||||||
September 30, 2014
|
September 30, 2015
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income
|
¥ | 4,585 | 4,431 | |||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
|
||||||||
Depreciation and amortization
|
2,514 | 2,740 | ||||||
Deferred income taxes
|
(337 | ) | 214 | |||||
Gain on sale of investment securities
|
(559 | ) |
-
|
|||||
Changes in assets and liabilities:
|
||||||||
Trade receivables
|
(3,828 | ) | 353 | |||||
Inventories
|
506 | 780 | ||||||
Trade accounts payable
|
2,398 | (4,748 | ) | |||||
Other account payable
|
422 | (80 | ) | |||||
Accrued expenses
|
2,712 | (816 | ) | |||||
Income taxes payable
|
2,975 | (93 | ) | |||||
Accrued warranty expenses
|
(127 | ) | 93 | |||||
Customer prepayments
|
494 | (1,614 | ) | |||||
Accrued pension and severance costs
|
247 | 1,410 | ||||||
Other
|
1,390 | (1,191 | ) | |||||
Net cash provided by (used in) operating activities
|
13,392 | 1,479 | ||||||
Cash flows from investing activities:
|
||||||||
Proceeds from sale of available-for-sale securities
|
1,557 |
-
|
||||||
Purchases of property, plant and equipment
|
(1,497 | ) | (1,365 | ) | ||||
Purchases of intangible assets
|
(249 | ) | (256 | ) | ||||
Other
|
47 | 204 | ||||||
Net cash provided by (used in) investing activities
|
(142 | ) | (1,417 | ) | ||||
Cash flows from financing activities:
|
||||||||
Redemption of corporate bonds
|
-
|
(10,000 | ) | |||||
Dividends paid
|
(845 | ) | (1,742 | ) | ||||
Other
|
36 | (5 | ) | |||||
Net cash provided by (used in) financing activities
|
(809 | ) | (11,747 | ) | ||||
Net effect of exchange rate changes on cash and cash equivalents
|
2,065 | 617 | ||||||
Net change in cash and cash equivalents
|
14,506 | (11,068 | ) | |||||
Cash and cash equivalents at beginning of period
|
68,997 | 97,574 | ||||||
Cash and cash equivalents at end of period
|
¥ | 83,503 | 86,506 |
(5)
|
Notes to Consolidated Financial Statements
|
|
(Notes on Going Concern): None
|
|
(Notes on Significant Changes to Stockholders’ Equity): None
|
|
(Segment Information)
|
Yen (Millions)
|
||||||||||||||||||||
Six months ended September 30, 2014
|
||||||||||||||||||||
Semiconductor
and Component Test System Business |
Mechatronics
System Business |
Services,
Support and Others |
Elimination
and Corporate |
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 54,925 | 11,100 | 12,918 |
-
|
78,943 | ||||||||||||||
Inter-segment sales
|
66 |
-
|
-
|
(66 | ) |
-
|
||||||||||||||
Net sales
|
54,991 | 11,100 | 12,918 | (66 | ) | 78,943 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
7,904 | 714 | 1,568 | (3,794 | ) | 6,392 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 6,392 |
Yen (Millions)
|
||||||||||||||||||||
Six months ended September 30, 2015
|
||||||||||||||||||||
Semiconductor
and Component Test System Business |
Mechatronics
System Business |
Services,
Support and Others |
Elimination
and Corporate |
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 51,168 | 20,258 | 15,239 |
-
|
86,665 | ||||||||||||||
Inter-segment sales
|
24 |
-
|
-
|
(24 | ) |
-
|
||||||||||||||
Net sales
|
51,192 | 20,258 | 15,239 | (24 | ) | 86,665 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
2,779 | 4,509 | 2,331 | (2,871 | ) | 6,748 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 6,748 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended September 30, 2014
|
||||||||||||||||||||
Semiconductor
and Component Test System Business |
Mechatronics
System Business |
Services,
Support and Others |
Elimination
and Corporate |
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 28,881 | 6,307 | 6,926 |
-
|
42,114 | ||||||||||||||
Inter-segment sales
|
66 |
-
|
-
|
(66 | ) |
-
|
||||||||||||||
Net sales
|
28,947 | 6,307 | 6,926 | (66 | ) | 42,114 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
4,786 | 559 | 940 | (2,295 | ) | 3,990 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 3,990 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended September 30, 2015
|
||||||||||||||||||||
Semiconductor
and Component Test System Business |
Mechatronics
System Business |
Services,
Support and Others |
Elimination
and Corporate |
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 26,495 | 11,448 | 8,445 |
-
|
46,388 | ||||||||||||||
Inter-segment sales
|
18 |
-
|
-
|
(18 | ) |
-
|
||||||||||||||
Net sales
|
26,513 | 11,448 | 8,445 | (18 | ) | 46,388 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
1,359 | 2,610 | 1,600 | (1,530 | ) | 4,039 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 4,039 |
|
1.
|
Adjustments to operating income in Corporate principally represent corporate general and administrative expenses and research and development expenses related to fundamental research activities that are not allocated to operating segments.
|
|
2.
|
Advantest uses the operating income (loss) before stock option compensation expense for management’s analysis of business segment results.
|
Net Sales
|
Operating
income
|
Income before
income taxes
|
Net income
|
Net income
per share
- (basic)
|
|
FY2015 forecast (A)
(announced July 28, 2015)
|
Million yen
165,000
|
Million yen
15,000
|
Million yen
15,000
|
Million yen 12,000
|
Yen
68.75
|
FY2015 forecast (B)
(announced October 26, 2015)
|
160,000
|
10,000
|
9,500
|
6,700
|
38.38
|
Difference (B-A)
|
(5,000)
|
(5,000)
|
(5,500)
|
(5,300)
|
-
|
Percentage change
|
(3.0%)
|
(33.3%)
|
(36.7%)
|
(44.2%)
|
-
|
(Reference)
FY2014 actual
|
163,329
|
14,619
|
18,859
|
12,948
|
74.31
|
|
•
|
changes in demand for the products and services produced and offered by Advantest’s customers, including semiconductors, communications services and electronic goods;
|
|
•
|
circumstances relating to Advantest’s investment in technology, including its ability to timely develop products that meet the changing needs of semiconductor manufacturers and communications network equipment and components makers and service providers;
|
|
•
|
the environment in which Advantest purchases materials, components and supplies for the production of its products, including the availability of necessary materials, components and supplies during a significant expansion in the market in which Advantest operates; and
|
|
•
|
changes in economic conditions, competitive environment, currency exchange rates or political stability in the major markets where Advantest produces, distributes or sells its products.
|
1 Year Advantest (PK) Chart |
1 Month Advantest (PK) Chart |
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