HANWA CO., LTD. (Consolidated financial results have been prepared in accordance with accounting principles generally accepted in Japan)
November 10, 2017
Company name:
HANWA Co.,Ltd. Listed stock exchange: TokyoStock exchange code: 8078
Representative: Enquiries:
Hironari Furukawa President
Yoichi Nakagawa Director, Senior Managing Executive Officer
TEL 81 - 3 - 3544 - 2000
The date of issue of audited financial statements: November 14, 2017 The date of payout of dividend: December 5, 2017
(Rounded down to millions of yen)
１．Consolidated financial results for the second quarter ended September 30, 2017
Consolidated operating results （％ of change from the same period of previous year）
Net sales
Operating income
Ordinary income
Net income attributable to owners of the parent
For the second quarter
(Millions of yen)
(％)
(Millions of yen)
(％)
(Millions of yen)
(％)
(Millions of yen)
(％)
ended September 30, 2017
836,979
17.0
11,461
4.8
12,270
23.7
8,154
31.4
ended September 30, 2016
715,619
(9.2)
10,937
33.9
9,919
42.7
6,207
2.5
Note: Comprehensive income For the second quarter ended September 30, 2017
For the second quarter ended September 30, 2016
10,336
4,137
million yen million yen
149.8 ％
197.0 ％
Net income per share
Net income per share(diluted)
For the second quarter
ended September 30, 2017
ended September 30, 2016
(yen)
200.66
151.42
(yen)
－
－
* Effective October 1, 2017, HANWA consolidated its common shares at the ratio of 5 shares to 1 share. Accordingly, net income
per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.
Consolidated financial position
Total assets | Net assets | Shareholders' equity ratio | Shareholders' equity per share | |
September 30, 2017 March 31, 2017 | (Millions of yen) 764,653 694,232 | (Millions of yen) 193,493 171,637 | (％) 23.3 24.5 | (yen) 4,387.83 4,193.50 |
Note: Shareholders' equity As of September 30, 2017
As of March 31, 2017
178,317 million yen
170,422 million yen
Effective October 1, 2017, HANWA consolidated its common shares at the ratio of 5 shares to 1 share. Accordingly, shareholders' equity per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.
Cash dividends per share
（effective date）
First quarter
Second quarter
Third quarter
Year-end
Annual
Year ended March 31, 2017
(yen)
－
(yen)
9.00
(yen)
－
(yen)
10.00
(yen)
19.00
Year ending March 31, 2018
（estimated）
－
10.00
－
50.00
－
２．Cash dividends
Effective October 1, 2017, HANWA consolidated its common shares at the ratio of 5 shares to 1 share. Accordingly, the impact of this share consolidation is taken into consideration in the amount presented for the fiscal year-end dividend per share for the year ending March 31, 2018 (estimated), and the amount for the total annual dividends per share for the same fiscal year is omitted and shown as a dash.
３．Forecast of consolidated financial results for fiscal year ending March 31, 2018 （％ of change from previousyear）
Net sales
Operating income
Ordinary income
Net income attributable
to owners of the parent
Net income per share
Annual
(Millions of yen) (％)
1,700,000 12.3
(Millions of yen) (％)
25,500 8.9
(Millions of yen) (％)
24,000 4.8
(Millions of yen) (％)
16,000 (2.2)
(yen)
391.98
Effective October 1, 2017, HANWA consolidated its common shares at the ratio of 5 shares to 1 share. Accordingly, net income per share reflects the impact of the said share consolidation.
* The above forecasts reflect assumptions and prospects based on the information currently available.They are subject to a number of risks and uncertainties that could cause actual results to differ materially from this information.
－１－
Financial Results for the Second Quarter ended September 30, 2017 《Consolidated Balance Sheets》(Rounded down to millions of yen)
Millions of yen
Assets Current assets; | March 31, 2017 | September 30, 2017 |
Cash and deposits | 28,465 | 33,641 |
Trade notes and accounts receivable | 307,853 | 324,767 |
Electronically recorded monetary claims | 30,742 | 32,506 |
Securities | 486 | 306 |
Inventories | 111,039 | 123,665 |
Others | 59,519 | 43,974 |
Allowance for doubtful receivables | (334) | (346) |
Total current assets | 537,773 | 558,515 |
Land | 29,640 | 31,973 |
Others | 29,852 | 31,374 |
Total property and equipment | 59,492 | 63,347 |
Intangible assets Investments and other assets; Investment securities | 2,034 72,524 | 3,006 103,604 |
Others | 22,912 | 36,677 |
Allowance for doubtful receivables | (504) | (497) |
Total investments and other assets | 94,932 | 139,784 |
Total fixed assets | 156,458 | 206,138 |
Total assets | 694,232 | 764,653 |
Trade notes and accounts payable | 191,989 | 205,865 |
Short-term loans payable | 107,262 | 107,383 |
Commercial paper | 5,000 | ― |
Current portion of bonds payable | 21 | 10,021 |
Income taxes payable | 6,752 | 4,104 |
Accrued bonuses | 2,306 | 2,426 |
Provision for product warranties | 146 | 119 |
Provision for loss on business of subsidiaries and affiliates | 512 | ― |
Others | 45,068 | 44,209 |
Total current liabilities | 359,058 | 374,129 |
Long-term liabilities; | ||
Bonds payable | 40,076 | 40,166 |
Long-term loans payable | 106,232 | 138,090 |
Retirement benefits liabilities | 4,518 | 4,533 |
Others | 12,709 | 14,240 |
Total long-term liabilities | 163,536 | 197,030 |
Total liabilities | 522,595 | 571,160 |
Shareholders' equity; Common stock | 45,651 | 45,651 |
Retained earnings | 117,778 | 123,875 |
Treasury stock | (3,720) | (3,722) |
Total shareholders' equity | 159,709 | 165,803 |
Accumulated other comprehensive income; Net unrealized holding gains on securities | 12,580 | 14,381 |
Deferred hedge profit and loss | 142 | (113) |
Land revaluation difference | 2,966 | 2,966 |
Foreign currency translation adjustments | 1,062 | 944 |
Remeasurements of defined benefit plans | (6,037) | (5,665) |
Total accumulated other comprehensive income | 10,713 | 12,513 |
Minority interests | 1,214 | 15,176 |
Total net assets | 171,637 | 193,493 |
Total liabilities and net assets | 694,232 | 764,653 |
－２－
Financial Results for the Second Quarter ended September 30, 2017 《Consolidated Statements of Income and Comprehensive Income》(Rounded down to millions of yen)
Millions of yen
Second quarter ended | Second quarter ended | |
Net sales | 715,619 | 836,979 |
Cost of sales | 684,823 | 803,393 |
Gross profit | 30,795 | 33,585 |
Selling, general and administrative expenses | 19,857 | 22,124 |
Operating income | 10,937 | 11,461 |
Other income; | ||
Interest income | 522 | 848 |
Dividend income | 541 | 846 |
Revenue from investment in affiliates | ― | 149 |
Foreign exchange gain | ― | 457 |
Others | 728 | 1,029 |
Total other income | 1,792 | 3,331 |
Other expenses; Interest expenses | 1,281 | 1,563 |
Loss on investment in affiliates | 24 | ― |
Foreign exchange loss | 831 | ― |
Others | 672 | 958 |
Total other expenses | 2,810 | 2,522 |
Ordinary income | 9,919 | 12,270 |
Extraordinary income; | ||
Gain on sales of investment securities | 126 | ― |
Reversal of allowance for business loss of affiliates | ― | 512 |
Total extraordinary income | 126 | 512 |
Extraordinary loss; Loss on liquidation of business | 209 | ― |
Total extraordinary loss | 209 | ― |
Income before income taxes | 9,836 | 12,782 |
Income taxes | 3,609 | 4,642 |
Net income | 6,226 | 8,140 |
Net income attributable to | ||
Net income attributable to owners of the parent | 6,207 | 8,154 |
Net income(loss) attributable to minority interests | 19 | (14) |
Other Comprehensive Income; Net unrealized holding gains on securities | 104 | 1,801 |
Deferred hedge profit and loss | 13 | (255) |
Foreign currency translation adjustments | (2,318) | (407) |
Remeasurements of defined benefit plans | 389 | 372 |
Share of other comprehensive income of affiliates | (277) | 686 |
Total other comprehensive Income | (2,089) | 2,196 |
Comprehensive Income | 4,137 | 10,336 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of the parent | 4,297 | 9,954 |
Comprehensive income attributable to minority interests | (160) | 381 |
－３－
Financial Results for the Second Quarter ended September 30, 2017 《Consolidated Statements of Cash Flows》(Rounded down to millions of yen)
Millions of yen
Second quarter Second quarter
Cash flows from operating activities;ended September 30,
2016
ended September 30,
2017
Income before income taxes 9,836 12,782
Depreciation and amortization 2,001 1,996
Amortization of goodwill 115 199
Increase(decrease) in allowance for doubtful receivables (19) (9) Interest and dividend income (1,063) (1,694)
Interest expense 1,281 1,563
Equity in earnings of affiliated companies (gain) 24 (149)
Gain on sales of investment securities of unconsolidated subsidiaries (126) ―
Reversal of allowance for business loss of affiliates ― (512)
Loss on liquidation of business 209 ―
(Increase)decrease in trade receivables (8,493) (16,103)
(Increase)decrease in inventories 10,911 (12,030)
Increase(decrease) in trade notes and accounts payable 7,431 10,501
(Increase)decrease in deposits received (9,732) 5,442
Increase(decrease) in advanced payment 5,031 (4,889)
Increase(decrease) in retirement benefits 472 483
Other, net 3,087 2,080
Sub total 20,967 (339)
Interest and dividends received 758 1,153
Interest paid (1,224) (1,531)
Income taxes paid 1,537 (6,556)
Net cash provided by (used in) operating activities 22,040 (7,274)
Cash flows from investing activities;Payment for time deposits (106) (1,822)
Proceeds from refund of time deposits 1,177 1,223
Payment for purchase of property and equipment (1,191) (2,105) Proceeds from sale of property and equipment 79 113
Payment for purchase of investment securities (1,718) (30,475) Proceeds from sale and redemption of investment securities 386 429
Net increase(decrease) from purchase of consolidated subsidiaries ― 289
(Increase)decrease in short - term loans receivable, net 182 12,912 Increase in long - term loans receivable (1,545) (14,111)
Collection of long-term loans receivable 1 62
Other, net 1,428 (55)
Net cash used in investing activities (1,308) (33,538)
Cash flows from financing activities;Increase(decrease) in short-term loans, net | (131) | 8,733 |
Increase(decrease) in commercial paper, net | ― | (5,000) |
Proceeds from long-term debt | 250 | 30,550 |
Repayments of long-term debt | (900) | (11,554) |
Proceeds from issuance of bonds | ― | 9,950 |
Payment for redemption of bonds | (28) | (10) |
Proceeds from stock issuance to minority shareholders | ― | 13,580 |
Purchase of treasury stock | (2,266) | (2) |
Payment for cash dividends | (2,070) | (2,031) |
Cash dividends paid to minority interest in consolidated subsidiaries | (29) | (28) |
Purchase of investments in subsidiaries resulting in no change in scope of consolidation | (217) | ― |
Other, net | (109) | (40) |
Net cash provided by (used in) financing activities | (5,503) | 44,147 |
Effect of exchange rate changes on cash and cash equivalents | (1,417) | 9 |
Net increase(decrease) in cash and cash equivalents | 13,812 | 3,344 |
Cash and cash equivalents at beginning of year | 25,804 | 27,206 |
Cash and cash equivalents from newly consolidated subsidiaries | 791 | 1,144 |
Cash and cash equivalents at end of period | 40,408 | 31,694 |
－４－
Hanwa Co. Ltd. published this content on 10 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 November 2017 04:08:01 UTC.
Original documenthttp://www.hanwa.co.jp/ms/data/pdf/ir/20171110-1en.pdf
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