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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 : 2643E
Maruwa Co Ld
06 February 2015
06 Feb 2015 MARUWA CO., LTD. 3-83, Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN Consolidated financial results for the third quarter of Fiscal 2014 MARUWA CO., LTD. today announced its consolidated financial results for the third quarter of Fiscal 2014<1 April 2014 - 31 Dec 2014> as follows; I. Summary of Consolidated Financial Results (1) Summary of consolidated operating results JPY million ------------- -------------- ------------ 3rd Quarter 3rd Quarter Change % 1 April - 1 April - 31 Dec 31 Dec 2013 2014 ------------- -------------- ------------ Net sales 24,157 24,227 0.3% Operating income 2,321 2,002 -13.8% Income before income taxes 2,663 2,197 -17.5% Net income 1,890 1,390 -26.4% ------------- -------------- ------------ Net income per share: JPY ------------- -------------- ------------ Basic 153.23 112.57 -26.5% Diluted 153.15 112.56 -26.5% ------------- -------------- ------------ (2) Summary of consolidated financial condition As of 31 As of 31 March Dec Change % 2014 2014 ------------- -------------- ------------ Total assets 49,569 50,453 1.8% Total net assets 40,016 41,991 4.9% ------------- -------------- ------------ Equity ratio 80.7% 83.2% 2.5% ------------- -------------- ------------ JPY Total net assets per share 3,239.88 3,399.84 ------------- -------------- ------------ II. Dividends JPY per share ------------- -------------- Fiscal 2013 Fiscal 2014 (forecast) ------------- -------------- Interim 17 18 Year-end 17 18 ------------- -------------- Total 34 36 ------------- -------------- *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. . Outlook for the fiscal 2014<1 April 2014 - 31 Mar 2015> The forecast figures for business results and dividends announced in 30 Jly 2014 are changed on full year. million JPY -------------- Full year -------------- Net sales 32,000 Operating income 2,400 Net income 1,800 -------------- Net income per share 145.75 --------------
Review of Operations
1. Review of Operations
In this consolidated cumulative third quarter, it has gradually risen on growing expectations of the United States economic recovery due to a rising trend of capital investment and personal consumption. The European financial market, momentum of recovery and slow improvement of debt problem has become a weak standstill. Meanwhile, emerging markets including China and South-East Asian countries has been under an uncertain condition because of concerns over slowdown in growth and frequent political unrest.
In the Japanese economy, market has generally recovered due to improvement of income environment by turnaround of corporate performance, depreciation of the yen and rising stock prices led by economic and fiscal policy of 'Abenomics'. However, the economic condition has still been uncertain because of reverse effect caused by a last-minute surge in demand due to the consumption tax hike, slowdown growth of export due to a stagnation of emerging markets and a high level price of raw materials from yen depreciation.
Under the uncertain market condition, the MARUWA Group's business results during this quarter has stayed firm especially in ceramic products for power modules related to energy-savings and environment which are one of our differentiated products in the ceramic components division. On the other hand, in the lighting equipment division, the plans of construction period will be delayed after the fiscal year and it seems to be difficult to achieve the prior forecast. This is because of soaring of personnel expense and material price due to the increase of demand for construction (i.g. reconstruction demand for Tohoku and facility maintenance for Tokyo Olympics).
The forecast of this fiscal year, however, remains unchanged from the prior forecast because it is expected to continue to steadily increase in the ceramic components division.
As a result, our consolidated sales were 24,227 million yen (increase 0.3% year on year). Our operating income was 2,002 million yen (decrease 13.8% year on year). Ordinary profit was 2,494 million yen (decrease 6.9% year on year). Net income was 1,390 million yen (decrease 26.4% year on year).
2.Operating Results by Business Division
The Ceramic Components Division
The total sales for this business segment was 16,328 million yen (increase 2.9% year on year).
Markets related to energy-saving and environment are still brisk and the sales of ceramic products for HEV and LED remained strong.
About the profit side, we perform reviews of stock for the profitability improvement and the production facility with business withdrawal or a decrease in production of the communication terminal business in the main customer. Operating income was 2,748 million yen (decrease 7.1% year on year).
Lighting Equipment Division
The total sales for this business segment was 7,900 million yen (decrease 4.6% year on year).
We released new LED road lights and pushed forward active sales activities, but the high value-added illumination of YAMAGIWA decreased by having been behind the original order plan.
The profit, we push forward constitution reinforcement of YAMAGIWA and result comes out smoothly. An operating loss was 72 million yen.
We will make efforts in the rebuilding of the sales strategy which kept the strength of development, release and the product of the new illumination apparatus using ceramic LED module and them which let a ceramic technology cultivated in our group fuse alive in future.
Review of Operations Review of operating results by segment JPY million ------------ 3rd Quarter 3rd Quarter 1 April - 1 April 31 Dec - 31 Dec 2013 2014 ------------ ------------ Ceramic Components: Net sales 15,873 16,328 Operating income 2,959 2,748 ------------ ------------ Lighting Equipment: Net sales 8,284 7,900 Operating income 64 (72) ------------ ------------ Total: Net sales 24,157 24,227 Operating income 3,023 2,676 ------------ ------------ Elimination: Net sales -- -- Operating income (702) (674) ------------ ------------ Consolidated: Net sales 24,157 24,227 Operating income 2,321 2,002 ------------ ------------
3. Financial Condition
Total assets as of the end of this second quarter were 50,453 million yen, increase 1.8 from the end of last fiscal year. Total liabilities were 8,462 million yen, decrease 11.4% from the end of last fiscal year. Total net assets were 41,991 million yen ,increase 4.9% from the end of last fiscal year.
The forecast figures for business results and dividends announced in 30 July 2014 are changed on full year.
Consolidated Balance Sheet JPY million ------------ ------------ 3rd Quarter (Reference) As of 31 As of 31 Dec March 2014 2014 ------------ ------------ ASSETS Current assets: Cash & deposits 13,561 13,362 Trade notes and accounts receivable 8,610 8,870 Electronically recorded monetary claims-operating 317 374 Inventories: 7,408 6,025 Deferred tax assets 385 439 Other current assets 783 727 Allowance for doubtful accounts (15) (15) Total current assets 31,049 29,782 ------------ ------------ Property, plant & equipment: Land 3,527 3,512 Buildings & structures 4,818 4,981 Machinery & equipment 6,198 6,169 Other 594 543 Construction in progress 1,195 1,539 Total property, plant & equipment 16,332 16,744 ------------ ------------ Goodwill 499 716 Other 449 410 Total Intangible assets 948 1,126 ------------ ------------ Investment & other assets: Total investments & other assets 2,124 1,917 ------------ ------------ Total assets 50,453 49,569 ------------ ------------ LIABILITIES Current liabilities: Trade notes & accounts payable 3,333 3,639 Current portion of long-term debt 1,072 445 Accrued income taxes 124 896 Accrued bonus 265 436 Accrued bonus to directors 2 10 Notes payable for property acquisitions 309 453 Other 2,392 1,726 Total current liabilities 7,497 7,605 ------- ------- Long-term liabilities: Long-term debt 295 1,159 Diferrred tax liabilities 190 175 Provision for environmental measures 26 26 Other 454 589 Total long-term liabilities 965 1,948 ------- ------- Total liabilities 8,462 9,554 ------- ------- NET ASSETS Shareholders' equity: Common stock 8,647 8,647 Capital surplus 11,947 11,947 Retained earnings 20,330 19,372 Treasury stock, at cost (47) (47) Total shareholders' equity 40,877 39,919 ------- ------- Valuation and translation adjustments: Net unrealized gains(losses)on available-for-sale securities 113 48 Foreign currency translation adjustments 998 46 Total valuation and translation adjustments 1,111 94 ------- ------- A subscription warrant and Minority stockholders share 3 3 Total shareholders' equity 3 3 ------- ------- Total net assets 41,991 40,016 ------- ------- Total liabilities and net assets 50,453 49,569 ------- ------- Consolidated Statements of Income JPY million ------------ ------------ 3rd Quarter 3rd Quarter 1 April - 1 April - 31 Dec 31 Dec 2013 2014 ------------ ------------ Net sales 24,157 24,227 Cost of sales 15,997 16,527 Gross profit 8,160 7,700 ------------ ------------ Selling, general & administrative 5,839 5,698 ------------ ------------ expenses Operating income 2,321 2,002 ------------ ------------ Interest & dividend income 37 28 Interest expenses (6) (10) Rent income 87 73 Rent expenses on real estates for investments (43) (28) Foreign exchange gain (loss), net 258 402 Gain on sales of noncurrent assets 1 3 Compensation income 65 - Subsidy income - 755 Non operating expenses (19) - Loss on disposal or sales of property, plant and equipment (51) (15) Loss on reduction of noncurrent assets - (738) Provision for environmental measures (26) - Loss on abandonment of inventories - (91) Gain on redemption of securities 7 21 Impairment loss (12) (192) Other, net 44 (13) Other income (expenses), net 342 195 ------------ ------------ Income before income taxes 2,663 2,197 ------------ ------------ Income taxes: Current 840 765 Deferred (67) 41 Total income taxes 773 806 ------------ ------------ Minority interests in income 0 0 ------------ ------------ Net income 1,890 1,390 ------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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