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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mitsub.Corp | LSE:MBC | London | Ordinary Share | JP3898400001 | SHS COM STK NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2,348.83 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMBC
RNS Number : 9609U
Mitsubishi Corporation
04 August 2015
FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 2015 -----------------------------------
Mitsubishi Corporation
2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086
http://www.mitsubishicorp.com/
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9609U_-2015-8-4.pdf
August 4, 2015
Mitsubishi Corporation
FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2015
(Based on IFRS) (Consolidated)
1. Consolidated operating results for the three months Note: ended June 30, 2015 Figures less than (1) Revenues and income one million yen are rounded. %: change from the same period of the previous year Revenues Income before Net income Net income Comprehensive income taxes attributable income to owners of the Parent ------------------ ---------------- ---------------- ---------------- ---------------- ---------------- For the three Millions Millions Millions Millions Millions months ended of Yen % of Yen % of Yen % of Yen % of Yen % June 30, 2015 1,820,041 (3.9) 101,197 (31.3) 86,383 (26.4) 74,954 (31.9) 130,754 68.3 June 30, 2014 1,894,465 0.4 147,247 (20.2) 117,378 (15.7) 110,057 (16.9) 77,685 (62.8) ------------------ --------- ----- -------- ------ -------- ------ -------- ------ -------- ------ Net income Net income attributable attributable to owners to owners of the Parent of the Parent per share per share (basic) (diluted) ------------------ -------------- -------------- For the three months ended Yen Yen June 30, 2015 46.31 46.20 June 30, 2014 66.96 66.81 ------------------ -------------- -------------- NOTE: Net income attributable to owners of the Parent per share (basic) and Net income attributable to owners of the Parent per share (diluted) are calculated based on Net income attributable to owners of the Parent.
(2) Financial position
Total assets Total equity Equity attributable Ratio of equity to attributable owners of to the Parent owners of the Parent to total assets ------------------ ------------ ------------ ------------------- ---------------- As of Millions of Millions of Millions of Yen Yen Yen % June 30, 2015 16,730,373 6,078,951 5,596,395 33.5 March 31, 2015 16,774,366 6,055,555 5,570,477 33.2 ------------------ ------------ ------------ ------------------- ----------------
2. Dividends
Cash dividend per share (Yen) --------------------- ---------------------------------------- (Record date) 1Q end 2Q end 3Q end 4Q end Annual --------------------- ------- ------ ------ ------ ------- Fiscal Year ended March 31, 2015 40.00 30.00 70.00 ------------------------------ ------ ------ ------ ------- Fiscal Year ending March 31, 2016 --------------------- ------- ------ ------ ------ ------- Fiscal Year ending March 31, 2016 (Forecast) 28.00 28.00 56.00 ------------------------------ ------ ------ ------ ------- NOTES: (1) Change from the latest released dividend forecasts: None (2) Breakdown of 2Q end dividend for the year ended March 31, 2015: Regular dividend 30.00Yen; commemorative dividend 10.00Yen
3. Outlook for the fiscal year ending March 31, 2016 (April 1, 2015 to March 31, 2016)
Note: %: change from the previous year. Net income attributable Net income attributable to to owners of the owners of the Parent per share Parent -------------- ------------------------- ----------------------- For the year Millions ending of Yen % Yen March 31, 2016 360,000 (10.1) 226.07 -------------- -------------- --------- ----------------------- NOTE: Change from the latest released earnings forecasts: None
4. Notes
(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries causing changes in scope of consolidation): None
New companies:
Excluded companies:
(2) Changes in accounting principles and accounting estimate
-1- Changes in accounting principles required by IFRS: None
-2- Changes other than -1-: None
-3- Changes in accounting estimate: None
(3) Number of shares issued (Common stock)
-1- Number of shares issued at quarterly-end (including treasury (June 30, (March 31, stock) 2015) 1,624,036,751 2015) 1,624,036,751 -2- Number of treasury stock (June 30, (March 31, at quarterly-end 2015) 19,285,268 2015) 3,653,124 -3- Average number of shares during each of the following (June 30, (June 30, three months (Apr-Jun.) 2015) 1,618,561,330 2014) 1,643,541,027
Disclosure Regarding Quarterly Review Procedures
As of the date of disclosure of this quarterly earnings release, a review of the quarterly financial statements is being carried out in accordance with the Financial Instruments and Corporate Exchange Act.
Forward-looking Statements
Earnings forecasts and other forward-looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable. The achievement of said forecasts cannot be promised. Actual results may therefore differ materially from these statements for various reasons. For cautionary notes concerning assumptions for earnings forecasts and use of earnings forecasts, please refer to "1(3) Qualitative Information Concerning Consolidated Forecasts for the Year Ending March 2016".
Contents
1. Qualitative Information Concerning Consolidated Operating Results ...........................2
(1) Qualitative Information Related to Consolidated Results of Operations ................................. 2
(2) Qualitative Information Concerning Consolidated Financial Position .................................4
(3) Qualitative Information Concerning Consolidated Forecasts for the Year Ending March 2016 ...... 5
2. Summary Information (Notes) ...........................................................................6
(1) Significant Changes in Subsidiaries During the Three Months Ended June 2015 ........................6
(2) Changes in Accounting Policies and Changes in Accounting Estimates ................................. 6
3. Condensed Consolidated Financial Statements ......................................................7
(1) Condensed Consolidated Statement of Financial Position (IFRS) ....................................... 7
(2) Condensed Consolidated Statement of Income (IFRS) ...................................................9
(3) Condensed Consolidated Statement of Comprehensive Income (IFRS) ........................ 10
(4) Condensed Consolidated Statement of Changes in Equity (IFRS) .......................................11
(5) Condensed Consolidated Statement of Cash Flows (IFRS) ............................................. 12
(6) Notes Concerning Going Concern Assumption ............................................................13
(7) Segment Information (Condensed) (IFRS) ............................................................... 13
(8) Notes Concerning Major Changes in Shareholders' Equity ............................................. 13
* Mitsubishi Corporation will hold an earnings conference call for the three months ended June 2015, inviting institutional investors and analysts to join.
The conference material can be accessed live in Japanese from our website (Investor Relations section) at the following URL:
http://www.mitsubishicorp.com/jp/en/ir/index.html
Time and date of the earnings conference call:
From 16:45 to 17:45 on Tuesday, August 4, 2015
1. Qualitative Information Concerning Consolidated Operating Results
(Consolidated net income, as used hereinafter, refers to net income attributable to owners of the Parent.)
(1) Qualitative Information Related to Consolidated Results of Operations
Summary of Results for the Three Months Ended June 2015
In the first three months of the year ending March 2016, the U.S. economy continued to experience a firm recovery, supported by consumer spending. In Europe, overall economic conditions continued to recover, but concerns about a Greek debt default mounted. Certain emerging nations experienced a slowdown in economic growth. The Japanese economy remained on a moderate recovery path, with signs of an upturn in consumer spending.
Against this background, revenues for the first three months of the year ending March 2016 were 1,820.0 billion yen, down 74.4 billion yen, or 4% year over year, due in part to falling crude oil prices.
Gross profit was 279.8 billion yen, mostly unchanged year over year.
Selling, general and administrative expenses increased 20.0 billion yen, or 8%, year over year to 257.3 billion yen, mainly due to the impact of business expansion (new consolidations).
In other P/L items, there were decreases in finance income, mainly reflecting lower dividend income from resource-related investees.
Income from investments accounted for using the equity method decreased 17.7 billion yen, or 26%, to 49.7 billion yen.
As a result, income before income taxes decreased 46.1 billion yen, or 31%, to 101.2 billion yen.
Accordingly, consolidated net income attributable to owners of the Parent for the three months ended June 2015 declined 35.1 billion yen, or 32%, to 75.0 billion yen.
Review of Operating Segments
1) Global Environmental & Infrastructure Business Group
The Global Environmental & Infrastructure Business Group conducts infrastructure projects, related trading operations and other activities in power generation, water, transportation and other infrastructure fields that serve as a foundation for industry.
The segment recorded consolidated net income of 5.6 billion yen, an increase of 0.8 billion yen year over year. The higher earnings mainly reflected increased earnings from electricity transmission and certain overseas power generation.
2) Industrial Finance, Logistics & Development Group
The Industrial Finance, Logistics & Development Group is developing shosha-type industrial finance business. These businesses range from asset management, infrastructure investment, and buyout investment to leasing, real estate development and logistics services.
The segment recorded consolidated net income of 9.1 billion yen, down 4.1 billion yen year over year. The lower earnings mainly reflected lower earnings from the fund investment business.
3) Energy Business Group
The Energy Business Group conducts a number of activities including oil and gas exploration, development and production (E&P) business; investment in natural gas liquefaction projects; trading of crude oil, petroleum products, carbon materials and products, LNG (Liquefied Natural Gas), and LPG (Liquefied Petroleum Gas); and planning and development of new energy business.
The segment recorded consolidated net income of 23.0 billion yen, a decrease of 13.4 billion yen year over year. This decrease reflects a decline in dividend income from resource-related business investees due to lower market prices, as well as lower equity-method earnings.
4) Metals Group
The Metals Group trades, develops business and invests in a range of fields. These include steel products such as steel sheets and thick plates, steel raw materials such as coking coal and iron ore, and non-ferrous raw materials and products such as copper and aluminum.
The segment recorded consolidated net loss of 8.4 billion yen, an 18.2 billion yen decrease year over year. The decrease mainly reflects lower dividend income from resource-related business investees due to the decline in market prices and lower equity-method earnings.
5) Machinery Group
The Machinery Group handles sales, finance and logistics across many different sectors, in which it also invests. These fields include machine tools, agricultural machinery, construction machinery, mining machinery, elevators, escalators, ships, aerospace-related equipment and motor vehicles.
The segment recorded consolidated net income of 26.3 billion yen, up 3.8 billion yen year over year. The increase is mainly due to profit from sales in the shipping business.
6) Chemicals Group
The Chemicals Group trades chemical products in a broad range of fields, in which it also develops business and invests. These fields extend from basic materials such as ethylene, methanol, and salt produced from crude oil, natural gas, minerals, plants, marine resources and so forth, to midstream and downstream products such as plastics, electronic materials, food ingredients, fertilizer and fine chemicals.
The segment recorded consolidated net income of 10.7 billion yen, an increase of 2.8 billion yen. Earnings increased mainly due to higher earnings on petrochemical-related transactions and an increase in unrealized gains on investment securities.
7) Living Essentials Group
The Living Essentials Group provides products and services, develops businesses and invests in various fields closely linked with people's lives, including food products and food, textiles, essential supplies, healthcare, distribution and retail. These fields extend from the procurement of raw materials to the consumer market.
The segment recorded consolidated net income of 5.6 billion yen, a decrease of 11.2 billion yen. Earnings decreased mainly due to lower earnings at a salmon farming business stemming from weak market prices.
(2) Qualitative Information Concerning Consolidated Financial Position
Changes in Assets, Liabilities and Equity
Total assets at June 30, 2015 were 16,730.4 billion yen, down 44.0 billion yen from March 31, 2015. The main reasons were the payment of dividends, the purchase of treasury stock, and payments to meet working capital requirements, as well as decreases in trade and other receivables associated with lower trading volumes.
Total liabilities were 10,651.4 billion yen, down 67.4 billion yen from March 31, 2015. This mainly reflected lower transaction volumes, payments to meet working capital requirements, and various other liabilities, despite the impact of the yen's depreciation, the procurement of funds and an increase in borrowings for new and additional investments.
Net Interest-bearing liabilities, which are gross interest-bearing liabilities minus cash, cash equivalents and time deposits, increased 467.7 billion yen from March 31, 2015 to 4,935.4 billion yen. The net debt-to-equity ratio, which is net interest-bearing liabilities divided by equity attributable to owners of the Parent, was 0.9. Rating agencies treat 50% of the adjusted balance of 200.0 billion yen in hybrid finance as equity; taking this figure into account, the adjusted net debt-to-equity ratio was 0.8.
Equity attributable to owners of the Parent increased 25.9 billion yen from March 31, 2015 to 5,596.4 billion yen. The increase was mainly due to an increase in retained earnings because of the consolidated net income and an increase in exchange differences in translating foreign operations accompanying the yen's depreciation, despite the payment of dividends and purchase of treasury stock.
Cash Flows
Cash and cash equivalents at June 30, 2015 were 1,452.5 billion yen, down 272.7 billion yen from March 31, 2015.
(Operating activities)
Net cash used by operating activities was 68.6 billion yen. Operating activities used net cash primarily to pay income taxes and meet temporary working capital requirements, despite cash flows from operating transactions and dividend income.
(Investing activities)
Net cash used in investing activities was 287.6 billion yen. Investing activities used net cash mainly due to investments in energy resource businesses and capital expenditures in the Australian coal business, despite cash provided by the sale of aircraft and the collection of loans receivable at subsidiaries.
As a result, free cash flow, the sum of operating and investing cash flows, was negative 356.2 billion yen.
(Financing activities)
Net cash provided by financing activities was 78.5 billion yen. Financing activities provided net cash mainly due to the issuance of hybrid bonds, despite the payment of dividends at the Parent and the purchase of treasury stock.
(3) Qualitative Information Concerning Consolidated Forecasts for the Year Ending March 2016
There has been no change to consolidated earnings forecasts for the year ending March 2016 announced on May 8, 2015.
Note:
Earnings forecasts and other forward-looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable. Therefore, they do not constitute a guarantee that they will be achieved. Actual results may differ materially from these statements for various reasons.
2. Summary Information (Notes)
(1) Significant Changes in Subsidiaries During the Three Months Ended June 2015 (Changes in Specified Subsidiaries Causing Changes in Scope of Consolidation)
None
(2) Changes in Accounting Policies and Changes in Accounting Estimates
The important accounting policies applied to the condensed consolidated financial statements for the three months ended June 2015 are identical to the accounting policies applied to the consolidated financial statements for the previous fiscal year.
3. Condensed Consolidated Financial Statements
Mitsubishi Corporation and subsidiaries
(1) CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS)
March 31, 2015 and June 30, 2015
ASSETS Millions of Yen ------------------------------------------------------ ---------------------- March 31, June 30, 2015 2015 ------------------------------------------------------ ---------- ---------- Current assets Cash and cash equivalents 1,725,189 1,452,490 Time deposits 156,090 164,419 Short-term investments 31,913 22,001 Trade and other receivables 3,473,352 3,394,252 Other financial assets 203,348 186,144 Inventories 1,301,547 1,278,052 Biological assets 69,600 74,354 Advance payments to suppliers 243,939 242,327 Assets classified as held for sale 77,045 63,190 Other current assets 326,667 338,764 ---------- ---------- Total current assets 7,608,690 7,215,993 Non-current assets Investments accounted for using the equity method 3,220,455 3,255,737 Other investments 2,243,344 2,500,539 Trade and other receivables 603,908 623,744 Other financial assets 112,434 111,309 Property and equipment 2,395,261 2,424,731 Investment property 80,524 79,274 Intangible assets and goodwill 329,081 333,766 Deferred tax assets 38,728 37,550 Other non-current assets 141,941 147,730 ---------- ---------- Total non-current assets 9,165,676 9,514,380 ------------------------------------------------------ ---------- ---------- Total 16,774,366 16,730,373 ------------------------------------------------------ ---------- ----------
Mitsubishi Corporation and subsidiaries
(1) CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS)
March 31, 2015 and June 30, 2015
LIABILITIES AND EQUITY Millions of Yen -------------------------------------------------- ---------------------- March 31, June 30, 2015 2015 -------------------------------------------------- ---------- ---------- Current liabilities Borrowings 1,513,876 1,605,382 Trade and other payables 2,511,142 2,429,715 Other financial liabilities 161,916 125,714 Advances from customers 232,165 228,525 Income tax payables 41,204 30,374 Liabilities directly associated with assets classified as held for sale 9,071 6,152 Other current liabilities 509,611 359,106 ---------- ---------- Total current liabilities 4,978,985 4,784,968 Non-current liabilities Borrowings 4,835,117 4,946,901 Trade and other payables 74,123 77,416 Other financial liabilities 25,851 19,551 Accrued pension and retirement benefits 69,482 69,194 Provisions 153,596 152,155 Deferred tax liabilities 544,483 563,657 Other non-current liabilities 37,174 37,580 ---------- ---------- Total non-current liabilities 5,739,826 5,866,454 ---------- ---------- Total liabilities 10,718,811 10,651,422 ---------- ---------- Equity Common stock 204,447 204,447 Additional paid-in capital 266,688 266,590 Treasury stock (7,796) (51,246) Other components of equity Other investments designated as FVTOCI 677,672 695,397 Cash flow hedges (18,609) (26,367) Exchange differences on translating foreign operations 856,628 885,788 ---------- ---------- Total other components of equity 1,515,691 1,554,818 Retained earnings 3,591,447 3,621,786 ---------- ---------- Equity attributable to owners of the Parent 5,570,477 5,596,395 Non-controlling interest 485,078 482,556 ---------- ---------- Total equity 6,055,555 6,078,951 -------------------------------------------------- ---------- ---------- Total 16,774,366 16,730,373 -------------------------------------------------- ---------- ----------
Mitsubishi Corporation and subsidiaries
(2) CONDENSED CONSOLIDATED STATEMENT OF INCOME (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen ------------------------------------------------- ------------------------------ Three months Three months ended ended June 30, 2014 June 30, 2015 ------------------------------------------------- -------------- -------------- Revenues 1,894,465 1,820,041 Costs of revenues (1,618,276) (1,540,223) -------------- -------------- Gross profit 276,189 279,818 Selling, general and administrative expenses (237,264) (257,287) Gains (losses) on investments 2,636 (1,844) Gains on sale and disposal of long-lived assets 2,376 4,040 Impairment losses on long-lived assets (62) (342) Other income -net 4,910 1,673 Finance income 41,882 38,217 Finance costs (10,764) (12,753) Income from investments accounted for using the equity method 67,344 49,675 -------------- -------------- Income before income taxes 147,247 101,197 Income taxes (29,869) (14,814) -------------- -------------- Net income 117,378 86,383 Net income attributable to: Owners of the Parent 110,057 74,954 Non-controlling interest 7,321 11,429 -------------- -------------- 117,378 86,383 ------------------------------------------------- -------------- --------------
Mitsubishi Corporation and subsidiaries
(3) CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen ------------------------------------------------------- ----------------------------- Three months Three months ended ended June 30,2014 June 30 ,2015 ------------------------------------------------------- ------------- -------------- Net income 117,378 86,383 Other comprehensive income (loss), net of tax Items that will not be reclassified to net income: Gains on other investments designated as FVTOCI 17,923 22,927 Remeasurement of defined benefit pension plans (308) (454) Share of other comprehensive income of investments accounted for using the equity method (305) 2,798 ------------- -------------- Total 17,310 25,271 Items that may be reclassified to net income: Cash flow hedges (1,910) (4,901) Exchange differences on translating foreign operations (41,886) 34,250 Share of other comprehensive income of investments accounted for using the equity method (13,207) (10,249) ------------- -------------- Total (57,003) 19,100 ------------- -------------- Total other comprehensive (loss) income (39,693) 44,371 ------------- -------------- Total comprehensive income 77,685 130,754 Comprehensive income attributable to: Owners of the Parent 70,863 117,987 Non-controlling interest 6,822 12,767 ------------- -------------- 77,685 130,754 ------------------------------------------------------- ------------- --------------
Mitsubishi Corporation and subsidiaries
(4) CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen --------------------------------------------------------------- ------------------------------ Three months Three months ended ended June 30 ,2014 June 30 ,2015 --------------------------------------------------------------- -------------- -------------- Common stock: Balance, beginning of year 204,447 204,447 -------------- -------------- Balance, end of year 204,447 204,447 Additional paid-in capital: Balance, beginning of year 265,356 266,688 Compensation costs related to stock options 638 338 Sales of treasury stock upon exercise of stock options (279) (475) Equity transactions with non-controlling interests and others (286) 39 -------------- -------------- Balance, end of year 265,429 266,590 Treasury stock: Balance, beginning of year (14,081) (7,796) Sales of treasury stock upon exercise of stock options 692 1,354 Purchases and sales-net (58,687) (44,804) -------------- -------------- Balance, end of year (72,076) (51,246) Other components of equity: Balance, beginning of year 1,259,252 1,515,691 Other comprehensive income attributable to owners of the Parent (39,194) 43,033 Transfer to retained earnings (2,583) (3,906) -------------- -------------- Balance, end of year 1,217,475 1,554,818 Retained earnings: Balance, beginning of year 3,352,692 3,591,447 Net income attributable to owners of the Parent 110,057 74,954 Cash dividends paid to owners of the Parent (62,647) (48,613) Sales of treasury stock upon exercise of stock options (340) 92 Transfer from other components of equity 2,583 3,906 -------------- -------------- Balance, end of year 3,402,345 3,621,786 -------------- -------------- Equity attributable to owners of the Parent 5,017,620 5,596,395 -------------- -------------- Non-controlling interest: Balance, beginning of year 471,704 485,078 Cash dividends paid to non-controlling interest (13,060) (13,613) Equity transactions with non-controlling interest and others 298 (1,676) Net income attributable to non-controlling interest 7,321 11,429 Other comprehensive income attributable to non-controlling interest (499) 1,338 -------------- -------------- Balance, end of year 465,764 482,556 -------------- -------------- Total equity 5,483,384 6,078,951 --------------------------------------------------------------- -------------- --------------
Mitsubishi Corporation and subsidiaries
(5) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)
for the three months ended June 30, 2014 and 2015
Millions of Yen ------------------------------------------------------------- ------------------------------ Three months Three months ended ended June 30, 2014 June 30, 2015 ------------------------------------------------------------- -------------- -------------- Operating activities: Net income 117,378 86,383 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 47,459 55,507 (Gains) losses on investments (2,636) 1,844 Gains on long-lived assets (2,314) (3,698) Finance income _net of finance costs (31,118) (25,464) Income from investments accounted for using the equity method (67,344) (49,675) Income taxes 29,869 14,814 Changes in notes and accounts receivable_trade 16,484 44,915 Changes in inventories (14,501) 42,787 Changes in notes, acceptance and accounts payable_trade (69,235) (76,022) Other_net (55,514) (190,230) Dividends received 118,293 65,626 Interest received 15,014 27,597 Interest paid (12,266) (18,512) Income taxes paid (86,633) (44,501) -------------- -------------- Net cash provided by (used in) operating activities 2,936 (68,629) Investing activities: Expenditures for property and equipment (85,827) (64,708) Proceeds from sales of property and equipment 29,167 14,385 Purchases of investments accounted for using the equity method (41,785) (78,143) Proceeds from sales of investments accounted for using the equity method 5,654 10,806 Acquisitions of businesses_net of cash acquired (1,664) Proceeds from sales of businesses_net of cash divested 1,352 4,392 Purchases of other investments (25,036) (217,951) Proceeds from sales of other investments 28,931 32,351 Increase in loans receivable (35,651) (11,907) Collection of loans receivable 44,909 33,301 Net decrease (increase) in time deposits 2,632 (8,434) -------------- -------------- Net cash used in investing activities (75,654) (287,572) Financing activities: Net increase in short-term debts 163,192 45,006 Proceeds from long-term debts_net of issuance costs 199,113 310,348 Repayment of long-term debts (140,363) (170,739) Payment of dividends (62,647) (48,613) Payment of dividends to the non-controlling interest (13,060) (13,613) Payment for acquisition of subsidiary's interests from the non-controlling interest (617) (351) Proceeds from sales of subsidiary's interests to the non-controlling interest 710 293 Net increase in treasury stock (58,614) (43,832) -------------- -------------- Net cash provided by financing activities 87,714 78,499 Effect of exchange rate changes on cash and cash equivalents 4,900 5,003 -------------- -------------- Net increase (decrease) in cash and cash equivalents 19,896 (272,699) -------------- -------------- Cash and cash equivalents, beginning of period 1,332,036 1,725,189 -------------- -------------- Cash and cash equivalents, end of period 1,351,932 1,452,490 ------------------------------------------------------------- -------------- --------------
(6) Notes Concerning Going Concern Assumption
None
(7) Segment Information (Condensed) (IFRS)
Three months ended June 30, 2014
Millions of Yen -------------------------------------------------------------------------------------------------------------------------------------- Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated Environmental Finance, Business Essentials and & Logistics Eliminations Infrastructure & Business Development -------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------ Gross profit 6,585 15,666 13,744 45,971 45,563 27,821 120,456 275,806 4,846 (4,463) 276,189 Income (loss) from investments accounted for using the equity method 6,968 12,831 25,865 6,043 7,978 4,617 3,892 68,194 (809) (41) 67,344 Net income attributable to owners of the Parent 4,830 13,178 36,393 9,799 22,494 7,854 16,751 111,299 823 (2,065) 110,057 Total assets (As of March 31) 996,202 895,759 2,253,567 4,796,811 1,999,106 975,467 3,144,562 15,061,474 3,555,574 (1,842,682) 16,774,366 -------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Three months ended June 30, 2015
Millions of Yen -------------------------------------------------------------------------------------------------------------------------------------- Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated Environmental Finance, Business Essentials and & Logistics Eliminations Infrastructure & Business Development -------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------ Gross profit 7,782 14,171 11,478 33,681 50,573 30,768 128,871 277,324 2,576 (82) 279,818 Income from investments accounted for using the equity method 7,559 5,509 20,741 236 7,225 4,201 4,194 49,665 157 (147) 49,675 Net income (loss) attributable to owners of the Parent 5,609 9,071 23,034 (8,430) 26,315 10,661 5,632 71,892 1,873 1,189 74,954 Total assets (As of June 30) 1,010,474 919,330 2,322,866 4,725,857 1,962,031 1,003,537 3,233,461 15,177,556 3,541,426 (1,988,609) 16,730,373 -------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
NOTES:
*1. "Other" represents the corporate departments which primarily provide services and operational support to the Company and Affiliated companies.
This column also includes certain revenues and expenses from business activities related to financing and human resource services that are not allocated to reportable operating segments.
Unallocated corporate assets categorized in "Other" consist primarily of cash, time deposits and securities for financial and investment activities.
*2. "Adjustments and Eliminations" includes certain income and expense items that are not allocated to reportable operating segments and intersegment eliminations.
*3. The Company determines the infrastructure-related business of the "Global Environmental & Infrastructure Business Group" as an operating segment and is thus presented as the Global Environmental & Infrastructure Business. The environment-related business categorized in the "Other."
*4. Effective from July 1, 2014 the part of environment-related business in the "Other" was transferred to the "Global Environment & Infrastructure Business." With this change, the consolidated financial position and the results of operations of related reportable operating segments for the three months ended June 30, 2014 have also been reclassified accordingly.
(8) Notes Concerning Major Changes in Shareholders' Equity
None
This information is provided by RNS
The company news service from the London Stock Exchange
END
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