![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Maruwa Co. Ltd | LSE:MAW | London | Ordinary Share | JP3879250003 | JPY50 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7,000.0946 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Porcelain Electrical Supply | 61.56B | 15.22B | 1233.3294 | 5.68 | 86.36B |
TIDMMAW
RNS Number : 1597C
Maruwa Co Ld
26 April 2012
27 April 2012 MARUWA CO., LTD. 3-83, Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN Final Results for Fiscal Year 2011-2012 MARUWA CO., LTD. has announced its consolidated business results for the full fiscal year ended 31st March, 2012 as follows; *The financial statements are prepared in accordance with the accounting principles generally accepted in Japan. *US dollar amounts are converted by USD1 = JPY82.19 for your convenience only *Number of consolidated subsidiaries: 13 companies (Maruwa (Malaysia) Sdn. Bhd., Maruwa Melaka Sdn. Bhd., Maruwa Lightings Sdn. Bhd., Taiwan Maruwa Co., Ltd., MARUWA Electronics (Taiwan) Co., Ltd., Maruwa Europe Ltd., Maruwa America Corp., Maruwa Korea Co., Ltd., Maruwa (Shanghai) Trading Co., Ltd., MARUWA Electronic (India) Pvt.Ltd., MARUWA QUARTZ Co., Ltd., MARUWA SHOMEI Co., Ltd., and Hokko Denshi Co., Ltd.) I. Summary of Consolidated Results (1) Summary of consolidated statement of income million thousand JPY USD -------------- -------------- ---------- -------------- For year For year Change For year ended ended % ended 31st March 31st March 31st March 2011 2012 2012 -------------- -------------- ---------- -------------- Net sales 20,011 21,313 6.5% 259,314 Operating income 3,035 2,933 -3.4% 35,685 Income before income taxes 2,898 2,916 0.6% 35,479 Net income 2,012 2,105 4.6% 25,611 JPY USD Net income per share (Basic) 102.97 187.14 81.7% 2.28 (Diluted) -- -- -- -- -------------- -------------- ---------- -------------- *Average number of issued shares 10,749,267 10,749,267 (2) Summary of consolidated financial condition JPY million USD thousand -------------- -------------- ---------- -------------- As of 31st As of 31st Change As of 31st March March % March 2011 2012 2012 -------------- -------------- ---------- -------------- Total Assets 33,649 40,808 21.3% 493,820 Total net assets 28,105 34,407 22.4% 418,626 Equity ratio 83.5% 84.3% 0.8% JPY USD Total net assets per share 2,470.94 2,611.82 5.7% 31.78 *Number of issued shares at the year end 10,745,230 10,749,937 (3) Summary of consolidated statement of cash flows JPY million USD thousand -------------- -------------- ---------- -------------- For year For year Change For year ended ended % ended 31st March 31st March 31st March 2011 2012 2012 -------------- -------------- ---------- -------------- Net cash provided by operating activities 2,549 1,908 -25.1% 23,215 Net cash used in investing activities (2,646) (4,435) -67.6% (53,960) Net cash used in financing activities (307) 4,255 1486.0% 51,770 Cash and cash equivalents at end of term 8,380 10,074 20.2% 122,570 II. Dividends III. Outlook for fiscal 2011 ending 31 March 2011 JPY per share JPY million -------------------- -------------- -------------- Fiscal 2011 Fiscal 2012 Half year Full year ---------- -------------- (forecast) Net sales 9,600 23,100 -------------------- -------------- Operating Interim 15 15 income 1,480 3,560 Year-end 15 15 Net income 938 2,210 -------------------- -------------- -------------- Net income Annual 30 30 per share 87.26 205.58 -------------------- -------------- ---------- -------------- *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. Review of Operations and Financial Condition I. Operating Results million JPY FY 2011 FY 2012 -------- ------ ------ -------- -------- 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q -------- ------ ------ -------- -------- ------ ------ -------- Net sales 4,587 4,989 4,894 5,541 5,355 5,621 5,127 5,210 Operating income 634 841 756 804 993 809 671 460 Net income 375 538 496 603 687 576 461 381 -------- ------ ------ -------- -------- ------ ------ -------- million JPY Previous Current ---------------- ---------------- -------- ------ ------ For year For year variance ended ended 31st March 31st March amount % 2011 2012 ---------------- ---------------- ---------------- ---------------- Net sales 20,011 21,313 1,302 6.5% Operating income 3,035 2,933 (102) -3.4% Net income 2,012 2,105 93 4.6% ---------------- ---------------- ---------------- ----------------
(1) Review of Operations
In this fiscal year, the steady economic growth in China has begun to slow, and the damage caused by the flooding in Thailand has been a trigger in a decelerating trend in the Asian economy. After the second semester, the American economy has shown signs of an economic upturn due to a general increase in consumption, although economic risks due to the Middle East conflicts and Euro zone debt problem remain.
The Japanese economy has attempted to recover from the slump caused by the devastating Tohoku Earthquake, problems with nuclear power supply and flood damage in Thailand. However, the downward world economy and the strong yen have made recovery difficult.
In this sever economic situation, the MARUWA Group's business result during the first half of this fiscal year was extremely good due to an increase in the market for semiconductor machinery and an increase in the demand for digital equipment in the Asian market. But, in the second half of the semester, a drastic decline in the world economy influenced our business results, especially with respect to commodity products. Conversely, the MARUWA group saw an increase in the market for environment-related products, including ceramics for power modules, LED lighting and components for smart phones.
As a result, our consolidated sales were 21,313 million yen. (This is up 6.5% compared to the same period last year) Our operating income was 2,932 million yen. (This is down 3.4% compared to the same period last year) Ordinary profit was 3,532 million yen (down 14.4%). Net income was 2,306 million yen (down 14.6%).
(2) Review of operating results by business segment million JPY ------------ ----------- Current ----------- For year For year ended ended 31st March 31st March 2011 2012 ------------- ----------- Ceramic Components: Net sales 18,061 19,024 Operating income 3,498 3,412 ------------ ----------- Lighting Equipment: Net sales 1,950 2,289 Operating income 136 247 ------------ ----------- Total: Net sales 20,011 21,313 Operating income 3,634 3,659 ------------ ----------- Elimination: Net sales -- -- Operating income (599) (726) ------------ ----------- Consolidated: Net sales 20,011 21,313 Operating income 3,035 2,933 ------------ -----------
(2) Operating Results by Business Division
1. The Ceramic Components Division
The total sales for this business segment was 19,024 million yen. (This is up 5.3% compared to the same period last year).
In the first half of this fiscal year, demand was very strong. Although this demand slowed down suddenly in the second half. The market for environment-related products, the power modules market and the smart phone market have remained strong.
Operating income was 3,411 million yen.
2. Lighting Equipment Division
The turnover was 2,289 million yen. This is a 17.3% increase over the same period last year.
Operating profit was 246 million yen, an 80.5% increase. This improvement is due to a consistent increase in inquiries and orders for LED lighting devices in the public utilities markets. New types of product were very successful. MARUWA is continuing to press forward with the development and promotion of new LED lighting products.
(
2. Review of operating results by business segment
Ceramic Components
The total sales for this business segment was 18,061 million yen, up 32.9% compared to last year. An increase in orders was sustained due to the recovering demand for digital consumer products in China and other Asian countries. Ceramics for power modules for the energy saving, ecology related market, such as HEV, EV and wind power generators, made good progress.
The operating income was 3,498 million yen(up 105.2% compared to last year) we exceeded the level of the previous year due to improvement in productivity of existing products, cost reduction and contribution of new product offerings with high added value.
Lighting Equipment
Total sales of the Lighting Equipment segment was 1,950 million yen, up 7.3 % compared to last year. Operating income was 136 million yen, up 31% compared to last year.
The sales of traditional lighting equipment are decreasing.
However, sales for LED lighting equipment are rising, and new product development in this area and expansion of sales are improving operational profit. There is increased demand for ecology related products, such as LED lighting.
(3) Outlook of the Full Fiscal 2011 million JPY For year For year variance ended ending 31st March 31st March % 2012 2013 --------------- --------------- --------- Net sales 21,313 24,000 12.6% Operating income 2,933 3,360 14.6% Net income 2,105 2,200 4.5% --------------- --------------- --------- Sales by segment million JPY For year For year variance ended ending 31st March 31st March % 2012 2013 --------------- --------------- --------- Ceramic Components 19,024 20,800 9.3% Lighting Equipment 2,289 3,200 39.8% Total 21,313 24,000 12.6% --------------- --------------- --------- *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.
3. Outlook for the next fiscal year
The outlook for the future economy is still uncertain because of the prolonged and on-going economic problems in Europe and the world-wide rate of consumption remaining stagnant. On the other hand, the reconstruction demands created by the Tohoku Earthquake, public investment, equipment investment, home investment and continuing upward momentum in America and economic growth in China and other emerging countries will contribute basic support for the world economy.
The energy saving, ecology related market in which we situate our growth strategy, is expected to grow at a solid rate. Furthermore, new products for smartphones and other information terminal markets are expected to expand rapidly.
For capital investment, we will continue to invest actively in the energy saving, ecology related market. We will also invest in new R&D, with increased staff, to work for the development of new products, with high added value.
We forecast that consolidated sales for the next fiscal year will be 24,000 million yen, up 12.6% compared to last year. In terms of operating income, net income is expected to be 3,360 million yen, up 14.6% compared to last year, 2,200 million yen (Up4.6% compared to last year).
We will strengthen the corporate structure and improve profitability, which will benefit all stakeholders, including shareholders.
Cautionary statements: The above forecasts are based on the present business environment and currently-available information, and include forward-looking statements involving risks and uncertainties. The reader is cautioned not to place reliance entirely on the above forecast for making investment decisions. Due to a number of factors, such as future economic situations and market environment changes, actual results may differ significantly from these estimates.
Financial Condition million million JPY JPY As of 31st As of 31st Change March March 2011 2012 Amount % ---------------- --------------- --------------- -------- Total assets 33,649 40,808 7,159 21.3% Total liabilities 5,544 6,401 857 15.5% Total net assets 28,105 34,407 6,302 22.4% Equity ratio 83.5% 84.3% 0.8% --------------- --------------- --------------- -------- million million JPY JPY For year ended For year ended Change 31st March 31st March Amount % 2011 2012 ---------------- --------------- --------------- -------- Net cash provided by operating activities 2,549 1,908 -641 -25.1% Net cash used in investing activities (2,646) (4,435) -1,789 -67.6% Net cash used in financing activities (307) 4,255 4,562 1486.0% Cash and cash equivalents at end of year 8,380 10,074 1,694 20.2% --------------- --------------- --------------- -------- Net sales 20,011 21,313 1,302 6.5% Capital expenditure 1,585 5,717 4,132 260.7% Depreciation 1,584 1,813 229 14.5% --------------- --------------- --------------- -------- Trends of cash-flows indices million JPY For year ended For year ended For year ended 31st March 31st March 31st March 2010 2011 2012 ---------------- --------------- --------------- Equity ratio 86.5% 83.5% 84.3% Equity ratio at market value 69.5% 86.1% 110.8% Interest-bearing debt to cash flows ratio (year) 0.0 0.0 0.0 Interest coverage ratio 1,419.8 1,217.8 1,141.9 --------------- --------------- --------------- Consolidated Balance Sheets million JPY million JPY thousand USD ------------ ------------ --------- ----------- As of 31st As of 31st variance As of 31st March March March 2011 2012 2012 ------------ ------------ --------- ----------- ASSETS Current assets: Cash & deposits 8,923 10,649 1,726 129,566 Trade notes and accounts receivable 6,540 6,373 (167) 77,540 Inventories 3,671 5,591 1,920 68,025 Deferred tax assets 221 219 (2) 2,665 Other current assets 311 716 405 8,712 Allowance for doubtful (12) (2) 10 (24) accounts Total current assets 19,654 23,546 3,892 286,484 ------------ ------------ ----------- Property, plant & equipment: Land 3,155 3,789 634 46,100 Buildings & structures 3,782 3,965 183 48,242 Machinery & equipment 3,494 4,567 1,073 55,566 Other 384 533 149 6,485 Construction in progress 1,525 2,747 1,222 33,423 Net property, plant & 12,340 15,601 3,261 189,816 ------------ ------------ ----------- equipment 221 221 Investments & other assets: Investment securities 337 318 (19) 3,869 Deferred tax assets 16 85 69 1,034 Property & equipment for investments 919 906 (13) 11,023 Other 175 136 (39) 1,655 Allowance for doubtful accounts (13) (5) 8 (61) Total investments & other assets 1,434 1,440 6 17,520 ------------ ------------ ----------- Total assets 33,649 40,808 7,159 493,820 ------------ ------------ ----------- LIABILITIES Current liabilities: Trade notes & accounts payable 2,105 2,230 125 27,132 Current portion of long-term debt 5 5 0 61 Accrued income taxes 598 739 141 8,991 Accrued bonus 345 322 (23) 3,918 Accrued bonus for directors 22 14 -- 170 Notes payable for property acquisitions 669 1,457 788 17,727 Other current liabilities 1,229 1,270 41 15,452 Total current liabilities 4,973 6,037 1,064 73,451 -------- -------- --------- Long-term liabilities: Long-term debt 116 111 (5) 1,351 Deferred tax liabilities 201 17 (184) 207 Negative goodwill - - - 0 Other 254 236 (18) 2,871 Total long-term liabilities 571 364 (207) 4,429 -------- -------- --------- Total liabilities 5,544 6,401 857 77,880 -------- -------- --------- NET ASSETS Shareholders' equity: Common stock 6,710 8,647 -- 105,207 Capital surplus 9,747 11,906 -- 144,859 Retained earnings 13,750 15,510 1,760 188,709 Treasury stock, at cost (679) (141) 538 (1,716) Total shareholders' equity 29,528 35,922 6,394 437,059 -------- -------- --------- Valuation and translation adjustments: Net unrealized gains (losses) (50) 13 63 158 on available-for-sale securities 0 Foreign currency translation adjustment (1,402) (1,562) (160) (19,005) -------- -------- Total valuation and translation adjustments (1,452) (1,549) (97) (18,847) -------- -------- --------- A subscription warrant and Minority stockholders share 29 34 - 414 Total shareholders' equity 29 34 5 414 -------- -------- --------- Total net assets 28,105 34,407 6,302 418,626 -------- -------- --------- Total liabilities & net assets 33,649 40,808 7,159 496,506 -------- -------- --------- Consolidated Statements of Income million JPY million JPY thousand USD ------------ ------------ --------- ----------- For year For year variance For year ended ended ended 31st March 31st March 31st March 2011 2012 2012 ------------ ------------ --------- ----------- Net sales 20,011 21,313 1,302 259,314 Cost of sales 13,318 14,567 1,249 177,236 Gross profit 6,693 6,746 53 82,078 ------------ ------------ ----------- Selling, general & administrative expenses 3,658 3,813 155 46,393 ------------ ------------ Operating income 3,035 2,933 (102) 35,685 ------------ ------------ ----------- Other income (expenses): Interest and dividend income 48 40 (8) 487 Interest expenses (2) (2) 0 (24) Amortization of negative goodwill -- -- 0 Foreign exchange gain (loss), net (89) 144 233 1,752 Gain on sales of property, plant and equipment 55 48 584 Loss on disposal or sales of property, plant and equipment (20) (63) (767) Gain on sales or valuation of investment securities 0 0 0 Loss on valuation of inventories (150) (278) (3,382) Early extra retirement payments -- -- 0 Loss by the disaster (26) -- 0 Other, net 47 94 47 1,144 Other income (expenses), net (137) (17) 120 (206) ------------ ------------ ----------- Income before income taxes 2,898 2,916 18 35,479 Income tax expenses: Current 750 1,071 321 13,031 Deferred 136 (260) (396) (3,163) Total income taxes 886 811 (75) 9,868 ------------ ------------ ----------- Net income 2,012 2,105 93 25,611 ------------ ------------ ----------- Consolidated Statement of Cash Flows million JPY million JPY thousand USD ------------ ------------ --------- ----------- For year For year variance For year ended ended ended 31st March 31st March 31st March 2011 2012 2012 ------------ ------------ --------- ----------- Cash flows from operating activities: Income before income taxes 2,898 2,916 18 35,479 Adjustments for: Depreciation 1,584 1,813 229 22,059 Amortization of negative goodwill -- -- 0 0 Impairment loss -- -- 0 Decrease in allowance for doubtful accounts (13) (18) (5) (219) Loss on disposal of property, plant & equipment 20 76 56 925 Interest & dividend income (48) (47) 1 (572) Foreign exchange (gain) loss 8 0 (8) 0 Gain on sales of investment securities 0 0 0 0 Loss on valuation of inventories 150 86 (64) 1,046 Decrease (increase) in trade notes & accounts receivable (1,272) 125 1,397 1,521 Increase in inventories (979) (1,917) (938) (23,324) Decrease in trade notes & accounts payable 409 187 (222) 2,275 Other 211 (404) (615) (4,915) Sub-total 2,968 2,817 (151) 34,275 ------------ ------------ ----------- Interest & dividend income received 48 49 1 596 Interest expenses paid (2) (2) 0 (24) Income taxes paid (465) (956) (491) (11,632) The amount of corporation tax return -- -- - 0 Net cash provided by operating activities 2,549 1,908 (641) 23,215 ------------ ------------ ----------- Cash flows from investment activities: Payments into time deposits (165) (66) 99 (803) Proceeds from withdrawal of time deposits 35 0 -- 0 Payments for purchase of (2,542) (5,075) (2,533) (61,747) Proceeds from sales of 9 693 684 8,432 Payments for purchase of (176) (115) 61 (1,399) investment securities 0 Proceeds from sales of 196 109 (87) 1,326 Purchase of intangible assets (9) (18) (9) (219) Other 6 37 31 450 Net cash used in investing activities (2,646) (4,435) (1,789) (53,960) ------------ ------------ ----------- Cash flows from financing activities: Payments of long-term debt (5) (5) 0 (61) Cash dividends paid (312) (346) (34) (4,210) An income by the publication of the subscription warrant 0 0 0 0 Payments for purchase of treasury stock 0 0 0 0 Proceeds from sales of treasury stock 10 4,606 0 Net cash used in financing activities (307) 4,255 4,562 (4,271) ------------ ------------ ----------- Effect of exchange rate (79) (34) 45 (414) ------------ ------------ changes on cash & cash equivalents Net increase (decrease) in (483) 1,694 2,177 (35,430) cash & cash equivalents Cash and cash equivalents 8,863 8,380 (483) 101,959 at beginning of year 0 Cash and cash equivalents at end of year 8,380 10,074 1,694 66,529 ------------ ------------ ----------- Consolidated Statements of Changes in Net Assets million JPY ------------- ---------------- ------------------ --------------- ----------------------- Shareholders' equity --------------------------------------------------------------------------------------------- Common stock Capital surplus Retained earnings Treasury stock Total shareholders' equity ------------- ---------------- ------------------ --------------- ----------------------- Balance at 31 March 2011 6,710 9,747 13,750 (679) 29,528 Increase in legal capital 1,937 1,937 3,874 Cash dividends (346) (346) Net income 2,105 2,105 Change of scope of consolidation 0 Purchase of treasury stock 0 0 Disposal of treasury stock 223 538 761 Other changes 0 ------------- ---------------- ------------------ --------------- ----------------------- Total changes during the year 1,937 2,160 1,759 538 6,394 ------------- ---------------- ------------------ --------------- ----------------------- Balance at 31 March 2012 8,647 11,906 15,510 (141) 35,922 ------------- ---------------- ------------------ --------------- ----------------------- million JPY ----------------- -------- -------- ------------- ----------------- Valuation and translation adjustment ----------------- Net unrealized gains Foreign Total A subscription Total on available-for-sale currency valuation warrant net assets securities translation and translation and Minority adjustment adjustment stockholders share ------------------------------------- ------------- ----------------- --------------- ------------ (50) (1,402) (1,452) 29 28,105 3,874 (346) 2,105 0 0 761 62 (160) (98) 6 (92) ----------------- -------- -------- ------------- ----------------- 62 (160) (98) 6 6,302 ----------------- -------- -------- ------------- ----------------- 13 (1,562) (1,549) 34 34,407 ----------------- -------- -------- ------------- ----------------- thousand USD --------------- Shareholders' equity ----------------------------------------------------------- Common Capital Retained Treasury Total stock surplus earnings stock shareholders' equity -------- --------- ---------- --------- --------------- Balance at 31 March 2011 62,430 90,686 127,930 (6,317) 274,729 Increase in legal capital 23,567 23,567 0 0 47,135 Cash dividends 0 0 (4,210) 0 (4,210) Net income 0 0 25,611 0 25,611 Change of scope of consolidation 0 0 0 0 0 Purchase of treasury stock 0 0 0 0 0 Disposal of treasury stock 0 2,713 0 6,546 9,259 Other changes 0 0 0 0 0 Total changes during the year -------- --------- ---------- --------- Balance at 31 March 2012 105,207 144,859 188,709 (1,716) 437,059 -------- --------- ---------- --------- --------------- thousand USD ------------ Valuation and translation adjustment ------------------------------------------------------ Net unrealized Foreign Total A subscription Total gains on currency valuation warrant net assets available-for-sale translation and translation and Minority securities adjustment adjustment stockholders share -------------------- ------------- ----------------- --------------- ------------ (465) (13,044) (13,509) 29 261,489 0 0 0 0 47,135 0 0 0 0 (4,210) 0 0 0 0 25,611 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9,259 754 (1,947) (1,192) 73 (1,119) 58,634 -------------------- ------------- ----------------- --------------- ------------ 158 (19,005) (18,847) 414 418,626 -------------------- ------------- ----------------- --------------- ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR XQLFLLZFFBBF
1 Year Maruwa Chart |
1 Month Maruwa Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions