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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 : 7335V
Maruwa Co Ld
30 October 2014
30 Oct 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 second quarter of Fiscal 2014<1 April 2014 - 30 Sep 2014> as follows; I. Summary of Consolidated Financial Results (1) Summary of consolidated operating results JPY million ---------------- -------------- ------------ 1st Quarter 1st Quarter Change % 1 April - 30 1 April - 30 Sep Sep 2013 2014 ---------------- -------------- ------------ Net sales 15,347 15,821 3.1% Operating income 1,314 1,271 -3.3% Income before income taxes 1,406 1,314 -6.5% Net income 1,081 756 -30.1% ---------------- -------------- ------------ Net income per share: JPY ---------------- -------------- ------------ Basic 87.66 61.20 -30.2% Diluted 87.60 61.20 -30.1% ---------------- -------------- ------------ (2) Summary of consolidated financial condition As of 31 March As of 30 Sep Change % 2013 2014 ---------------- -------------- ------------ Total assets 49,569 50,024 0.9% Total net assets 40,016 41,158 2.9% ---------------- -------------- ------------ Equity ratio 80.7% 82.3% 1.6% ---------------- -------------- ------------ JPY Total net assets per share 3,239.88 3,332.35 ---------------- -------------- ------------ 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 - 30 Sep 2014> The forecast figures for business results and dividends announced in 30 July 2014 are not changed.
Review of Operations
1. Review of Operations
In this consolidated cumulative second 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 turmoil has also regained stability and generally recovered. 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 15,821 million yen (increase 3.1% year on year). Our operating income was 1,271 million yen (decrease 3.3% year on year). Ordinary profit was 1,508 million yen (increase 8.1% year on year). Net income was 756 million yen (decrease 30.1% year on year).
2.Operating Results by Business Division
The Ceramic Components Division
The total sales for this business segment was 11,125 million yen (increase 7.6% 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.
Operating income was 1,997 million yen (increase 2.1% year on year).
Lighting Equipment Division
The total sales for this business segment was 4,696 million yen (decrease 6.1% year on year).
The profit, we push forward constitution reinforcement of YAMAGIWA and result comes out smoothly. The recording of sales will be delayed because construction plans were delayed while orders were increased. An operating loss was 236 million yen (decrease 20.5% year on year).
Regarding profits, we are further strengthening the structure of YAMAGIWA and it steadily produces results. We will continue to develop and expand sales of ceramic LED modules and lighting equipment.
Review of Operations Review of operating results by segment JPY million ----------------- 2nd Quarter 2nd Quarter 1 April - 30 Sep 1 April - 30 Sep 2013 2014 ----------------- ----------------- Ceramic Components: Net sales 10,344 11,125 Operating income 1,955 1,997 ----------------- ----------------- Lighting Equipment: Net sales 5,003 4,696 Operating income (196) (236) ----------------- ----------------- Total: Net sales 15,347 15,821 Operating income 1,759 1,761 ----------------- ----------------- Elimination: Net sales -- -- Operating income (445) (490) ----------------- ----------------- Consolidated: Net sales 15,347 15,821 Operating income 1,314 1,271 ----------------- -----------------
3. Financial Condition
Total assets as of the end of this second quarter were 50,024million yen, increase 0.9 from the end of last fiscal year. Total liabilities were 8,866 million yen, decrease 7.2% from the end of last fiscal year. Total net assets were 41,158 million yen ,increase 2.9% from the end of last fiscal year.
The forecast figures for business results and dividends announced in 30 July 2014 are not changed.
Consolidated Balance Sheet JPY million ------------ ------------ 2nd Quarter (Reference) As of 30 As of 31 Sep March 2014 2014 ------------ ------------ ASSETS Current assets: Cash & deposits 14,312 13,362 Trade notes and accounts receivable 7,913 8,870 Electronically recorded monetary claims-operating 340 374 Inventories: 6,970 6,025 Deferred tax assets 479 439 Other current assets 846 727 Allowance for doubtful accounts (15) (15) Total current assets 30,845 29,782 ------------ ------------ Property, plant & equipment: Land 3,518 3,512 Buildings & structures 4,805 4,981 Machinery & equipment 6,076 6,169 Other 555 543 Construction in progress 1,235 1,539 Total property, plant & equipment 16,189 16,744 ------------ ------------ Goodwill 571 716 Other 447 410 Total Intangible assets 1,018 1,126 ------------ ------------ Investment & other assets: Total investments & other assets 1,972 1,917 ------------ ------------ Total assets 50,024 49,569 ------------ ------------ LIABILITIES Current liabilities: Trade notes & accounts payable 3,264 3,639 Current portion of long-term debt 470 445 Accrued income taxes 604 896 Accrued bonus 476 436 Accrued bonus to directors 5 10 Notes payable for property acquisitions 201 453 Other 2,213 1,726 Total current liabilities 7,233 7,605 ------- ------- Long-term liabilities: Long-term debt 957 1,159 Diferrred tax liabilities 155 175 Provision for environmental measures 26 26 Other 495 589 Total long-term liabilities 1,633 1,949 ------- ------- Total liabilities 8,866 9,554 ------- ------- NET ASSETS Shareholders' equity: Common stock 8,647 8,647 Capital surplus 11,947 11,947 Retained earnings 19,918 19,372 Treasury stock, at cost (47) (47) Total shareholders' equity 40,465 39,919 ------- ------- Valuation and translation adjustments: Net unrealized gains(losses)on available-for-sale securities 95 48 Foreign currency translation adjustments 595 46 Total valuation and translation adjustments 690 94 ------- ------- A subscription warrant and Minority stockholders share 3 3 Total shareholders' equity 3 3 ------- ------- Total net assets 41,158 40,016 ------- ------- Total liabilities and net assets 50,024 49,569 ------- ------- Consolidated Statements of Income JPY million ------------ ------------ 2nd Quarter 2nd Quarter 1 April - 1 April - 30 Sep 30 Sep 2013 2014 ------------ ------------ Net sales 15,347 15,821 Cost of sales 10,128 10,729 Gross profit 5,219 5,092 ------------ ------------ Selling, general & administrative 3,905 3,821 ------------ ------------ expenses Operating income 1,314 1,271 ------------ ------------ Other income (expenses): Interest & dividend income 26 23 Interest expenses (4) (7) Rent income 57 51 Rent expenses on real estates for investments (28) (19) Foreign exchange gain (loss), net (5) 172 Gain on sales of noncurrent assets 0 1 Compensation income 65 - Subsidy income - 755 Loss on disposal or sales of property, plant and equipment (22) (5) Loss on reduction of noncurrent assets - (738) Provision for environmental measures (26) - Gain on redemption of securities 7 21 Impairment loss (12) (192) Other, net 34 (19) Other income (expenses), net 92 43 ------------ ------------ Income before income taxes 1,406 1,314 ------------ ------------ Income taxes: Current 585 560 Deferred (260) (2) Total income taxes 325 558 ------------ ------------ Minority interests in income 0 0 ------------ ------------ Net income 1,081 756 ------------ ------------
This information is provided by RNS
The company news service from the London Stock Exchange
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