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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 : 4614Z
Maruwa Co Ld
06 February 2014
Hot Features
Premium
6(th) February
2014
MARUWA CO., LTD.
3-83, Minamihonjigahara-cho, Owariasahi-city, Aichi-pref.,
488-0044 JAPAN
Consolidated financial results for the Second quarter of Fiscal
2014
MARUWA CO., LTD. today announced its consolidated financial
results for the third quarter of Fiscal 2013<1 April 2013 -
31 Dec 2013> as follows;
I. Summary of Consolidated Financial
Results
(1) Summary of consolidated operating
results
JPY million
---------------- ------------------ ---------------
3rd Quarter 3rd Quarter Change %
1 April - 31
Dec 1 April - 31 Dec
2012 2013
---------------- ------------------ ---------------
Net sales 15,849 24,157 52.4%
Operating income 1,710 2,321 35.7%
Income before income
taxes 1,936 2,663 37.6%
Net income 1,233 1,890 53.3%
---------------- ------------------ ---------------
Net income per share: JPY
---------------- ------------------ ---------------
Basic 100.19 153.23 52.9%
Diluted 100.16 153.15 52.9%
---------------- ------------------ ---------------
(2) Summary of consolidated financial
condition
As of 31 March As of 31 Dec Change %
2013 2013
---------------- ------------------ ---------------
Total assets 45,610 48,227 5.7%
Total net assets 37,141 39,484 6.3%
---------------- ------------------ ---------------
Equity ratio 81.4% 81.9% 0.5%
---------------- ------------------ ---------------
JPY
Total net assets per
share 3,014.90 3,198.31
---------------- ------------------ ---------------
II. Dividends
JPY per share
---------------- ------------------
Fiscal 2013 Fiscal 2014
Interim 15 17
Year-end 15 (forecast) 17
---------------- ------------------
Total 30 (forecast) 34
---------------- ------------------
*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 2013 - 31 Dec 2013>
The forecast figures for business results and dividends
announced in 15 May 2013 are not changed.
*The financial statements are prepared in conformity with the
accounting principles generally accepted in Japan.
*Consolidated subsidiaries: 14companies.
Review of Operations
1. Review of Operations
In this third quarter , the growth of the world economy has slowed due to the little clear 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.
The Japanese economy has attempted after new government appointment, the drop in the value of the yen and the positive stock market makes Japanese economy recover slowly.
In this severe economic situation, the MARUWA Group's business results during this first 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 were 24,179 million yen. (This is up 52.4% compared to the same period last year) Our operating income was 2,321 million yen. (This is up 35.8% compared to the same period last year) Ordinary profit was 2,680 million yen (This is up 34.7% compared to the same period last year). Net income was 1,890 million yen (This is up 53.3% compared to the same period last year).
2.Operating Results by Business Division
The Ceramic Components Division
The total sales for this business segment was 15,873 million yen. (This is up 9.8% compared to the same period last year).
The market for environment-related products, the power modules market and quartz glass have remained strong.
Operating income was 2,959 million yen.
Lighting Equipment Division
The turnover was 8,284 million yen. This is a 492.5% increase over the same period last year. Operating income was 64 million yen. This is a 21.3% decrease over the same period last year. The consolidated sales in this business is large by YAMAGIWA which became the subsidiary in last December having been connected. included a review of transportation, the distribution, an office, a warehouse, the rationalization expense including the showroom move that the new YAMAGIWA system started in April and planned earnings structure reinforcement. Therefore we improved a loss for the operating income.
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.
Review of Operations
Review of operating results
by segment
JPY million
------------
3rd Quarter 3rd Quarter
1 April 1 April -
- 31 Dec 31 Dec
2012 2013
------------ ------------
Ceramic Components:
Net sales 14,450 15,873
Operating income 2,265 2,959
------------ ------------
Lighting Equipment:
Net sales 1,398 8,284
Operating income 82 64
------------ ------------
Total:
Net sales 15,848 24,157
Operating income 2,347 3,023
------------ ------------
Elimination:
Net sales -- --
Operating income (637) (702)
------------ ------------
Consolidated:
Net sales 15,848 24,157
Operating income 1,710 2,321
------------ ------------
3. Financial Condition
Total assets as of the end of this second quarter were 48,227million yen, up 5.7 from the end of last fiscal year . Total liabilities were 8,743 million yen up 3.2% from the previous year-end.Total net assets were 39,484 million yen, up 6.3% from the end of last fiscal year.
Consolidated Balance Sheet
JPY million
-------------- --------------
3rd Quarter (Reference)
As of 31 As of 31
Dec March
2013 2013
-------------- --------------
ASSETS
Current assets:
Cash & deposits 12,525 11,312
Trade notes and accounts receivable 8,302 8,560
Electronically recorded monetary
claims-operating 246 32
Inventories: 6,175 5,493
Deferred tax assets 416 260
Other current assets 766 619
Allowance for doubtful accounts (23) (23)
Total current assets 28,407 26,253
-------------- --------------
Property, plant & equipment:
Land 3,515 3,625
Buildings & structures 4,148 4,039
Machinery & equipment 6,491 6,447
Other 592 622
Construction in progress 1,907 1,792
Total property, plant & equipment 16,653 16,525
-------------- --------------
Goodwill 789 1,006
Other 419 368
Net property, plant & equipment 17,861 17,899
Investment & other assets:
Total investments & other
assets 1,959 1,458
-------------- --------------
Total assets 48,227 45,610
-------------- --------------
LIABILITIES
Current liabilities:
Trade notes & accounts payable 2,859 3,086
Current portion of long-term debt 339 339
Accrued income taxes 513 607
Accrued bonus 252 391
Accrued bonus to directors 2 5
Notes payable for property acquisitions 661 315
Other 1,846 1,718
Total current liabilities 6,472 6,461
----------- -------------
Long-term liabilities:
Long-term debt 1,363 789
Diferrred tax liabilities 286 104
Provision for retirement benefits - 876
Provision for environmental measures 26 -
Other 596 239
Total long-term liabilities 2,271 2,008
----------- -------------
Total liabilities 8,743 8,469
----------- -------------
NET ASSETS
Shareholders' equity:
Common stock 8,647 8,647
Capital surplus 11,940 11,909
Retained earnings 18,677 17,181
Treasury stock, at cost (62) (134)
Total shareholders' equity 39,202 37,603
----------- -------------
Valuation and translation adjustments:
Net unrealized gains(losses)on
available-for-sale securities 66 16
Foreign currency translation adjustments 208 (511)
Total valuation and translation
adjustments 274 (495)
----------- -------------
A subscription warrant and Minority
stockholders share 8 33
Total shareholders' equity 8 33
----------- -------------
Total net assets 39,484 37,141
----------- -------------
Total liabilities and net assets 48,227 45,610
----------- -------------
Consolidated Statements of Income
JPY million
------------ ------------
3rd Quarter 3rd Quarter
1 April - 1 April -
31 Dec 31 Dec
2012 2013
------------ ------------
Net sales 15,849 24,157
Cost of sales 11,387 15,997
Gross profit 4,462 8,160
------------ ------------
Selling, general & administrative 2,752 5,839
------------ ------------
expenses
Operating income 1,710 2,321
------------ ------------
Other income (expenses):
Interest & dividend income 29 37
Interest expenses (2) (6)
Rent income 72 87
Rent expenses on real estates
for investments (39) (43)
Environmental expenses (19) -
Foreign exchange gain (loss),
net 213 258
Gain on sales of property, plant
and equipment 1 1
Compensation income - 65
Provision for environmental measures - (26)
Non operating expenses - (19)
Loss on disposal or sales of
property, plant and equipment (51) (44)
Gain on valuation of inventories
securities 2 7
State subsidy 207 -
Loss on reduction of noncurrent
assets (207) -
Other, net 20 25
------------ ------------
Other income (expenses), net 226 342
------------ ------------
Income before income taxes 1,936 2,663
Income taxes:
Current 585 840
Deferred 118 (67)
------------ ------------
Total income taxes 703 773
------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTUNURRSOAURAR
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