KAWASAKI HEAVY INDUSTRIES, LTD. AND CONSOLIDATED SUBSIDIARIES FLASH CONSOLIDATED FINANCIAL RESULTS

October 28, 2016

For six months ended September 30, 2016 and 2015 and one year ended March 31, 2016 (Consolidated)

Operating results

Millions of yen Thousands of U.S. dollars

Six months ended Six months ended Six months ended

Sep. 30, 2016 Sep. 30, 2015 Sep. 30, 2016

Net sales 697,299 708,194 $ 6,895,757

Operating income 8,491 42,305 83,969 Profit (loss) attributable to owners of parent (242) 26,878 (2,393) Earnings per share (Yen) (0.1) 16.0

Financial position

Millions of yen / Thousand shares

Thousands of U.S. dollars

As of As of As of

Sep. 30, 2016 Mar. 31, 2016 Sep. 30, 2016

Total assets 1,657,075 1,620,458 $ 16,387,213

Net assets 401,695 445,625 3,972,458

Number of shares issued and outstanding 1,670,560 1,670,576

Equity Ratio 23.4% 26.6%

Cash flows

Millions of yen

Thousands of U.S. dollars

Six months ended Six months ended Six months ended

Sep. 30, 2016 Sep. 30, 2015 Sep. 30, 2016

Operating activities (117,247) (100,893) $ (1,159,483)

Investing activities (31,618) (40,722) (312,678)

Financing activities 143,936 135,523 1,423,417

Cash and cash equivalents at end of term 35,689 41,706 352,937

Fiscal year forecast

Millions of yen

Net sales Operating income Profit attributableto

owners of parent

One year ending March 31, 2017 1,510,000 34,000

16,500

Notes : 1. This "FLASH CONSOLIDATED FINANCIAL RESULTS" and following financial statements have been prepared in conformity with generally accepted accounting principles and practices in Japan.

2. All US$ amounts in these statements represent the arithmetical results of translating Japanese yen to U.S. dollars on the basis of 101.12=$1, the rate prevailing as of September 30, 2016, solely for the convenience of the readers.

Condensed Consolidated Balance Sheets

As of September 30 and March 31, 2016

Assets :

Current assets :

Thousands of

Millions of yen U.S. dollars

As of As of As of

Sep. 30, 2016 Mar. 31, 2016 Sep. 30, 2016

Cash on hand and in banks

39,473

42,157

$ 390,357

Receivables, less allowance

442,522

396,750

4,376,206

Inventories

496,518

492,965

4,910,186

Other current assets

81,726

86,031

808,209

Total current assets

1,060,239

1,017,903

10,484,958

Investments and long-term loans less allowance

90,468

106,303

894,660

Net property, plant and equipment

443,764

436,558

4,388,489

Intangible and other assets

62,604

59,694

619,106

Total assets

Liabilities and net assets :

1,657,075

1,620,458

$ 16,387,213

Current liabilities : Short-term borrowings

and current portion of long-term debt

272,272

116,047

$ 2,692,563

Payables

302,646

329,903

2,992,939

Advances from customers

146,779

170,454

1,451,532

Other current liabilities

135,117

151,307

1,336,205

Total current liabilities

856,814

767,711

8,473,239

Long-term liabilities :

Long-term debt, less current portion

278,369

282,377

2,752,858

Others

120,197

124,745

1,188,658

Total long-term liabilities

398,566

407,122

3,941,516

Net assets :

Common stock

104,484

104,484

1,033,267

Capital surplus

54,394

54,394

537,915

Retained earnings

261,001

279,627

2,581,101

Treasury stock

(91)

(86)

(899)

Net unrealized gains on securities

2,256

2,705

22,310

Gains (losses) on hedging items

1,391

693

13,755

Foreign currency translation adjustments

(16,949)

8,990

(167,612)

Remeasurements of defined benefit plans

(17,466)

(19,439)

(172,725)

Non-controlling interests

12,675

14,257

125,346

Total net assets

401,695

445,625

3,972,458

Total liabilities and net assets

1,657,075

1,620,458

$ 16,387,213

Condensed Consolidated Statements of Income

For six months ended September 30, 2016 and 2015

Thousands of

Millions of yen U.S. dollars

Six months ended Six months ended

Sep. 30, 2016 Sep. 30, 2015

Change

Six months ended

Sep. 30, 2016

Net sales 697,299 708,194 -0% $ 6,895,757

Cost of sales 595,268 575,216 5,886,748

Gross profit 102,031 132,978 1,009,009

Selling, general and administrative expenses 93,540 90,673 925,040

Operating income 8,491 42,305 -80%83,969

Other income (expenses) :

Interest and dividend income

549

526

5,429

Equity in income of unconsolidated

subsidiaries and affiliates

2,945

1,348

29,123

Interest expense

(1,433)

(1,857)

(14,171)

Other, net

(10,076)

(2,030)

(99,643)

Income (loss) before income taxes and

non-controlling interests

476

40,292

4,707

Income taxes

17

(12,466)

168

Profit (loss) attributable to non-controlling interests

(735)

(948)

(7,268)

Profit (loss) attributable to owners of parent

(242)

26,878

-101%

$ (2,393)

Kawasaki Heavy Industries Ltd. published this content on 28 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 October 2016 03:01:05 UTC.

Original documenthttp://global.kawasaki.com/en/corp/ir/library/pdf/161028_1e.pdf

Public permalinkhttp://www.publicnow.com/view/E9FA265E1E676E8FD5DA03C29A03F76A17E0783C