This document is a summary translation of the Japanese language original version. In the event of any discrepancy, errors and/or omissions, the Japanese language version shall prevail.
Consolidated Financial Summary for the Third Quarter Ended September 30, 2017 (Japanese Standard)Listed company name: Coca-Cola Bottlers Japan Inc. Listed stock exchanges: Tokyo and Fukuoka Code number: 2579 URL: https://en.ccbji.co.jp
Delegate: Title: Representative Director & President Name: Tamio Yoshimatsu
October 27, 2017
Contact: Title: Leader, Finance Controller Group Name: Masakiyo Uike Phone: +81-3-6896-1707 Expected date of quarterly report submission: November 10, 2017 Expected date of the dividend payments: -
FY 2017 3Q supplementary information: Yes FY 2017 3Q financial presentation: Yes
(Fractions of one million yen are rounded down)
Consolidated financial results for the 3rd quarter 2017 (from January 1, 2017 to September 30, 2017)
(Percentages indicate changes over the same period in the prior fiscal year)
Net revenues
Operating income
Recurring income
Net profit attributable to shareholders of parent
3nd quarter 2017
3nd quarter 2016
million yen
645,088
353,710
%
82.4
7.3
million yen
38,606
19,025
%
102.9
65.3
million yen
37,876
18,320
%
106.7
62.2
million yen
23,797
10,627
%
123.9
(25.9)
Consolidated financial results
Note: Comprehensive income
3Q 2017: 26,707 million yen 228.5% 3Q 2016:8,129 million yen (44.1)%
Earnings per share
Diluted earnings per share
3nd quarter 2017
3nd quarter 2016
yen
143.17
97.37
yen
-
-
Consolidated financial position
Total assets
Net assets
Net assets (excl. minority interests) to total assets
As of
3nd quarter 2017
Full year 2016
million yen
889,577
377,468
million yen
622,831
261,173
%
69.9
69.1
Reference: Net assets (excl. minority interests)
3Q 2017: 621,853 million yen End of 2016: 260,758 million yen
Dividends
Dividends per share
(Record date)
End of 1Q
End of 2Q
End of 3Q
Year-end
Annual
Year ended
Full year 2016
Full year 2017
yen
-
-
yen
22.00
yen
-
yen
24.00
yen
46.00
22.00
-
Full year 2017 (forecast)
22.00
44.00
Note: Revisions to the cash dividends forecasts most recently announced: None
End of 2Q FY 2016 dividend : an ordinary dividend of 21.00 yen, a commemorative dividend of 1.00 yen FY 2016 ending dividend : an ordinary dividend of 23.00 yen, a commemorative dividend of 1.00 yen
Forecast of consolidated financial results 2017 (from January 1, 2017 to December 31, 2017)
(Percentages indicate changes over the same period in the prior fiscal year)
Net revenues
Operating income
Recurring income
Net profit attributable to shareholders of parent
Earnings per share
Full year 2017
million yen
906,500
%
96.9
million yen
40,100
%
89.7
million yen
38,100
%
84.9
million yen
21,500
%
309.9
Yen
122.85
Note: Revisions to the forecasts of consolidated financial results most recently announced: None
Notes
Changes in significant subsidiaries during the current period : Yes (changes in specified subsidiaries resulting in change in scope of consolidation)
Newly included: One (Coca-Cola East Japan Co., Ltd.) Excluded: None
Note: Please refer to "2. Quarterly Consolidated Financial Statements (3) Notes to Quarterly Consolidated Financial Statements (Change in Significant Subsidiaries during the Current Period)" on page 8 for details.
Application of special accounting for preparing the quarterly consolidated financial statement : None
Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
Changes in accounting policies due to revisions to accounting standards and other regulations : None
Changes other than those in 1) above : Yes
Changes in accounting estimates : Yes
Restatement of prior period financial statements after error corrections : None
Number of outstanding shares (common shares)
Number of outstanding shares at the end of period (including treasury shares): 3Q 2017: 206,268,593 shares FY 2016: 111,125,714 shares
Number of treasury shares at the end of period:
3Q 2017: 2,012,035 shares FY 2016: 1,989,069 shares
Average number of outstanding shares at end of period (nine months): 3Q 2017: 166,211,884 shares 3Q 2016: 109,138,069 shares
These Consolidated Financial Results are not subject to quarterly review procedures.
Explanation regarding appropriate use of the forecast, other special instructions
Qualitative Information on the Financial Summary for this Quarter
Details of Consolidated Financial Results 2
Details of Consolidated Financial Position 3
Information on the Future Outlook, Including Forecast of Consolidated Financial Results 3
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets 4
Quarterly Consolidated Statements of Income and Comprehensive Income 6
Quarterly Consolidated Statements of Income 6
Quarterly Consolidated Statements of Comprehensive Income 7
Notes to Quarterly Consolidated Financial Statements 8
Qualitative Information on the Financial Summary for this Quarter
Details of Consolidated Financial Results
Note: The total number of outstanding shares increased by 95,142,879 to 206,268,593 as of April 1, 2017 in connection with the integration with Coca-Cola East Japan Co., Ltd.
Figures in the above forecast are based on information available to management at the time of announcement. Due to number of inherent uncertainties in the forecast, actual results may differ materially from the forecast. Furthermore, please refer to "1. Qualitative Information on the Financial Summary for this Quarter
(3) Information on the Future Outlook, Including Forecast of Consolidated Financial Results" on page 3 for matters relating to performance forecasts.
Table of contents
Page
Attachment
(Notes Relating to Assumptions for the Going Concern) 8
(Change in Significant Subsidiaries during the Current Period) 8
(Notes for Case Where Shareholders' Equity underwent Significant Changes in Value) 8
(Application of Special Accounting for Preparing the Quarterly Consolidated Financial Statement) 8
(Changes in Accounting Policies, etc.) 8
(Additional Information) 9
(Segment Information) 9
During the year-to-date third quarter period of the fiscal year ending December 31, 2017, the Japanese economy continued to show a modest recovery with continued improvement of the job market and income situation as well as positive indicators of consumer sentiment and consumer spending.
In the soft drink industry, the market remained almost flat in terms of sales volume when compared to the same period in the previous year, reflecting poor weather during the summer peak season in eastern Japan, with continuous rain in the Kanto and Tohoku regions. Continued roll-outs of FOSHU (Food for Specific Health Usage), functional-claim and other value-added products have helped to offset this negative impact of weather on industry volume performance.
Both the health food and cosmetics industries continue to generate positive results, supported by launches of functional-claim food products and a stream of market entrants from other industries driven by the demand from health-conscious consumers in the health food industry. In the cosmetics industry, consumer needs continue to diversify and the demand from inbound tourism has also contributed growth.
In this operating environment, in order to pursue new business opportunities and realize sustainable growth, Coca-Cola Bottlers Japan Inc. (CCBJI) was formed through the business integration of Coca-Cola West (CCW) and Coca-Cola East Japan Co., Ltd. (CCEJ) effective April 1, 2017 through a combination of a share exchange and an absorption-type company split.
Furthermore, CCBJI (the Company) announced a medium-term business plan, the "Growth Roadmap for 2020
& Beyond" for the period up to 2020, which sets forth the Company's strategic initiatives, namely profitable revenue growth, integration synergies, establishment of a new operating model and a holistic financial framework to create shareholder value while investing in people capability development and shared value with local communities. The Company will focus on these initiatives to achieve sustainable growth, leverage the synergy effects of the business integration, and continue to lead the domestic soft drink industry.
The summary of financial results for the year-to-date third quarter period of this fiscal year is as follows.
Year-to-date third quarter, consolidated net revenues of the soft drink business increased by 293,576 million yen to 622,837 million yen (up 89.2%) year on year, primarily owing to factors such as the business integration of CCW and CCEJ effective as of April 1, 2017. Consolidated net revenues of the healthcare & skincare business fell by 2,198 million yen to 22,251 million yen (down 9.0%) year on year. As a result, the total consolidated net revenues increased by 291,378 million yen to 645,088 million yen (up 82.4%) year on year.
Year-to-date third quarter, consolidated operating income of the soft drink business increased by 19,832 million yen to 36,341 million yen (up 120.1%) year on year, due to an increase in net revenues led by the business integration described above as well as a decrease of expenses brought by the change in depreciation method for fixed assets and cost savings initiatives (at both CCW and CCEJ). Consolidated operating income in the healthcare & skincare business fell by 252 million yen to 2,264 million yen (down 10.0%) year, due to factors such as the aforementioned drop in net revenues. As a result, the total consolidated operating income for the year-to-date period increased by 19,508 million yen to 38,606 million yen (up 102.9%) year on year.
Furthermore, consolidated recurring income increased by 19,556 million yen to 37,876 million yen (up 106.7%) year on year.
Year-to-date third quarter, net profit attributable to owners of parent increased by 13,170 million yen to 23,797 million yen (up 123.9%) year on year, mainly due to an increase in recurring income, etc.
Year-to-date third quarter pro-forma revenues, assuming the business integration of CCW and CCEJ from January 2017 and estimating 2016 results using the same standard, decreased by 12,892 million yen to 764,029 million yen (down 1.7%) year on year, mainly impacted by a decrease of sales volume partly driven by poor weather as well as our continued focus on driving profitability. Year-to-date pro-forma operating income increased by 2,620 million yen to 40,131 million yen (up 7.0%) year on year driven by cost reductions in manufacturing as well as generating integration synergies in the soft drink business, etc. Year-to-date pro-forma net profit attributable to shareholders of parent was 24,389 million yen, up 2,599 million yen (11.9 %) year on year.
CCBJI also discloses the earnings presentation material on the CCBJI website (https://en.ccbji.co.jp/ir/). On the website, a live webcast and replay are available for listening the CCBJI earning presentation.
Coca-Cola Bottlers Japan Inc. published this content on 27 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 October 2017 08:07:07 UTC.
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