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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 : 6863X
Maruwa Co Ld
12 February 2013
12 February 2013 MARUWA CO., LTD. 3-83, Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN Consolidated financial results for the third quarter of Fiscal 2013 MARUWA CO., LTD. today announced its consolidated financial results for the second quarter of Fiscal 2013<1 April 2012 - 30 September 2012> as follows; I. Summary of Consolidated Financial Results (1) Summary of consolidated operating results JPY million --------------- -------------- ------------ 3rd Quarter 3rd Quarter Change % 1 April - 31 1 April - Dec. 31 Dec. 2011 2012 --------------- -------------- ------------ Net sales 16,102 15,849 -1.6% Operating income 2,473 1,710 -30.9% Income before income taxes 2,436 1,936 -20.5% Net income 1,725 1,233 -28.5% --------------- -------------- ------------ Net income per share: JPY --------------- -------------- ------------ Basic 150.80 100.19 -33.6% Diluted 150.57 100.16 -- --------------- -------------- ------------ (2) Summary of consolidated financial condition As of 31 March As of 31 Dec. Change % 2012 2012 --------------- -------------- ------------ Total assets 40,808 43,111 5.6% Total net assets 34,407 35,812 4.1% --------------- -------------- ------------ Equity ratio 84.2% 83.0% -1.2% --------------- -------------- ------------ JPY Total net assets per share 2,793.23 2,906.94 --------------- -------------- ------------ II. Dividends JPY per share --------------- -------------- Fiscal 2012 Fiscal 2013 (forecast) --------------- -------------- Interim 15 15 Year-end 15 15 --------------- -------------- Total 30 30 --------------- -------------- *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. *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. II. Outlook for the fiscal 2013<1 April 2012 - 31 March 2013> The forecast figures for business results and dividends announced in 26 April 2012 are changed. *The financial statements are prepared in conformity with the accounting principles generally accepted in Japan. *Consolidated subsidiaries: 13companies.
Review of Operations
1. Review of Operations
In this third quarter, the growth of the world economy has slowed due to the expanded Eurozone debt problem and to the rapidly developing economies in emerging countries, including China, rapidly losing steam, and in spite of an indication of economic recovery in the United States.
Despite a strong automotive market and the need for the reconstruction of the Tohoku area, the Japanese economy still has some uncertainty in its outlook because of unstable employment, sluggish personal consumption, instability in electric power supply, deflation, the appreciation of the yen and diplomatic problems.
In this severe economic situation, the MARUWA Group's business results during this third quarter of this fiscal year were in line with our plans due to a strong demand for ceramic substrate for power modules, new products for smart phone devices and LED lighting.
As a result, our consolidated sales were15,849 million yen. (This is down 1.6% compared to the same period last year) Our operating income was 1,710 million yen. (This is down 30.9% compared to the same period last year) Ordinary profit was 1,990million yen (down 22.5%). Net income was 1,233 million yen (down 28.5%).
MARUWA acquired 100% of outstanding shares of Yamagiwa Corporation, which is one of the leading lighting solution companies in Japan. As a result of this share acquisition, Yamagiwa will become a consolidated subsidiary of the Company. By welcoming Yamagiwa as one of the core companies of the Group and utilizing its strong brand recognition and its position as a leading company in the area of lighting solutions, the Company aims to further expand its business base in the booming LED lighting market and enhance its global business growth.
2.Operating Results by Business Division
The Ceramic Components Division
The total sales for this business segment was 14,451 million yen. (This is down 2.6% compared to the same period last year).
The market for environment-related products, the power modules market and the smart phone market have remained strong.
Operating income was 2,265 million yen.
Lighting Equipment Division
The turnover was 1,398 million yen. This is a 11.0% increase over the same period last year. Operating profit was 82million yen . (This is increase 63.0% compared to the same period last year).
This improvement is due to a consistent increase in inquiries and orders for LED lighting devices in the public utilities markets. New types of products were very successful. MARUWA is continuing to press forward with the development and promotion of new LED lighting products.
forward with the development and promotion of new LED lighting products.
Review of Operations Review of operating results by segment JPY million ------------- 3rd Quarter 3rd Quarter 1 April - 1 April - 31 31 Dec. Dec. 2011 2012 --------------- ------------- Ceramic Components: Net sales 14,843 14,451 Operating income 2,955 2,265 -------------- ------------- Lighting Equipment: Net sales 1,259 1,398 Operating income 50 82 -------------- ------------- Total: Net sales 16,102 15,849 Operating income 3,005 2,347 -------------- ------------- Elimination: Net sales -- -- Operating income (532) (637) -------------- ------------- Consolidated: Net sales 16,102 15,849 Operating income 2,473 1,710 -------------- -------------
3. Financial Condition
Total assets as of the end of this second quarter were 43,111million yen. This is a 5.6% increase over compared to the end of last fiscal year.
Total liabilities were 7,299 million yen. This is increase over to 14.0% compared to the previous year-end. Total net assets were 35,812 million yen. This is increase over to 4.1% compared to previous year-end. This is due to increase of funds, capital surplus and retained earnings by flotation. As a result, capital ratio is 83.0%
Consolidated Balance Sheet
JPY million ------------ ------------ 2nd Quarter (Reference) As of 31 As of 31 Dec. March 2012 2012 ------------ ------------ ASSETS Current assets: Cash & deposits 9,733 10,649 Trade notes and accounts receivable 7,489 6,373 Inventories: 5,795 5,591 Deferred tax assets 128 219 Other current assets 745 716 Allowance for doubtful accounts (23) (2) ------------ ------------ Total current assets 23,867 23,546 ------------ ------------ Property, plant & equipment: Land 3,621 3,789 Buildings & structures 4,006 3,965 Machinery & equipment 6,304 4,567 Other 610 533 Construction in progress 1,708 2,747 ------------ ------------ Total property, plant & equipment 16,249 15,601 ------------ ------------ Intangible assets: Goodwill 1,079 - Other 358 221 ------------ ------------ Total Intangible assets 1,437 221 ------------ ------------ Investment & other assets: 1,558 1,440 ------------ ------------ Total noncurrent assets 19,244 17,262 ------------ ------------ Total assets 43,111 40,808 ------------ ------------ LIABILITIES Current liabilities: Trade notes & accounts payable 2,475 2,230 Current portion of long-term debt 336 5 Accrued income taxes 233 739 Accrued bonus 199 322 Accrued bonus to directors 2 14 Notes payable for property acquisitions 404 1,457 Other 1,549 1,270 -------- -------- Total current liabilities 5,198 6,037 -------- -------- Long-term liabilities: Long-term debt 776 111 Diferrred tax liabilities 9 17 Provision for retirement benefits 1,058 - Other 258 236 -------- -------- Total long-term liabilities 2,101 364 -------- -------- Total liabilities 7,300 6,401 -------- -------- NET ASSETS Shareholders' equity: Common stock 8,647 8,647 Capital surplus 11,909 11,906 Retained earnings 16,374 15,510 Treasury stock, at cost (134) (141) -------- -------- Total shareholders' equity 36,796 35,922 -------- -------- Valuation and translation adjustments: Net unrealized gains(losses)on available-for-sale securities (7) 13 Foreign currency translation adjustments (1,009) (1,562) -------- -------- Total valuation and translation adjustments (1,016) (1,549) -------- -------- A subscription warrant and Minority stockholders share 32 34 -------- -------- Total shareholders' equity 32 34 -------- -------- Total net assets 35,812 34,407 -------- -------- Total liabilities and net assets 43,111 40,808 -------- -------- Consolidated Statements of Income JPY million ------------ ------------ 3rd Quarter 3rd Quarter 1 April - 1 April 31 Dec. - 31 Dec. 2011 2012 ------------ ------------ Net sales 16,102 15,849 Cost of sales 10,791 11,387 Gross profit 5,311 4,462 ------------ ------------ Selling, general & administrative 2,838 2,752 ------------ ------------ expenses Operating income 2,473 1,710 ------------ ------------ Other income (expenses): Interest & dividend income 21 29 Interest expenses (2) (2) Rent income 82 72 Rent expenses on real estates for investments (37) (39) Environmental expenses - (19) Foreign exchange gain (loss), net 20 213 Stock issuance cost (26) - Gain on sales of property, plant and equipment 12 3 Loss on disposal or sales of property, plant and equipment (63) (44) Loss on reduction of noncurrent assets - (207) State subsidy - 207 Loss on valuation of inventories securities (80) - Other, net 36 13 Other income (expenses), net (37) 226 ------------ ------------ Income before income taxes 2,436 1,936 ------------ ------------ Income taxes: Current 711 585 Deferred 0 118 Total income taxes 711 703 ------------ ------------ Net income 1,725 1,233 ------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
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