LEOPALACE21 CORPORATION 
By
Name of Company Listed: Leopalace21 Corporation Stock Listing: Tokyo Stock Exchange
Code Number: 8848 Location of Head Office: Tokyo
(URL: http://eg.leopalace21.com)
Representative: Position: President and CEO Name: Eisei Miyama
Contact Person: Position: Executive Officer Name: Bunya Miyao
Telephone: +81-3-5350-0216
Scheduled Date of Filing of Quarterly Report: February 13, 2014 Scheduled Date of Commencement of Dividend Payments: - Supplemental Explanatory Material Prepared: Yes
Results Briefing Held: None (for investment analysts and institutional investors)
1. Results for the Nine Months Ended December 31, 2013 (April 1, 2013 through December 31, 2013)
(1) Consolidated financial results
(Amounts less than one million yen are omitted) (Percentages represent changes from the same period last year)
Note: Comprehensive income: Nine months ended December 31, 2013: 10,376 million yen 276.7%; Nine months ended December 31, 2012: 2,754 million yen -%
Net income per share | Diluted net income per share | |
Nine months ended December 31, 2013 Nine months ended December 31, 2012 | Yen 29.77 29.10 | Yen - 29.09 |
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | Equity per share | |
As of December 31, 2013 As of March 31, 2013 | Million yen 275,515 261,649 | Million yen 90,874 58,151 | % 33.0 22.2 | Yen 354.32 274.80 |
Note: Shareholders' equity: As of December 31, 2013: 90,839 million yen; As of March 31, 2013: 58,133 million yen
2. Dividend Status
Dividend per share | |||||
(Base date) | End of 1st quarter | End of 2nd quarter | End of 3rd quarter | End of FY | Annual |
FY ended March 31, 2013 FY ending March 31, 2014 | Yen - - | Yen 0.00 0.00 | Yen - - | Yen 0.00 - | Yen 0.00 - |
FY ending March 31, 2014 (Forecast) | - | - | - | 0.00 | 0.00 |
Note: Restatement of most recent dividend forecast (Y/N): None
3. Estimation of Business Results for the Fiscal Year Ending March 31, 2014 (April 1, 2013 through March 31, 2014)
(Amounts less than one million yen are omitted) (Percentages represent changes compared with the previous full-year and six-month period results, respectively)
Net sales | Operating income | Recurring income | Net income | Net income per share | |||||
FY ending March 31, 2014 | Million yen 467,400 | % 2.9 | Million yen 14,100 | % 90.2 | Million yen 12,200 | % 10.0 | Million yen 11,000 | % (17.5) | Yen 51.15 |
Note: Restatement of most recent consolidated business results forecasts (Y/N): None
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4. Other
(1) Changes in major subsidiaries during the period (Change in specific subsidiaries that causes a change in the scope of consolidation): None
(2) Use of accounting procedures specific to the preparation of quarterly financial statements: Yes
(3) Changes in accounting policies, changes in accounting estimates, restatements
(i) Changes in accounting policies accompanying revision of accounting standards, etc.: None
(ii) Changes in accounting policies other than (i) above: None
(iii) Changes in accounting estimates: None
(iv) Restatements: None
(4) Total number of outstanding shares (Common stock)
(i) Total number of outstanding shares at term end (Includes treasury stock)
As of December 31, 2013: 260,943,915 shares
As of March 31, 2013: 217,443,915 shares
(ii) Total treasury stock at term end
As of December 31, 2013: 4,569,120 shares
As of March 31, 2013: 5,900,320 shares
(iii) Average number of outstanding shares during the period
For the nine months ended December 31, 2013: 215,034,863 shares
For the nine months ended December 31, 2012: 173,384,776 shares
Indication regarding the status of quarterly review procedures:
These financial statements are not subject to quarterly review procedures under the Financial Instruments and Exchange Act. The review of
these financial statements in accordance with the Financial Instruments and Exchange Act is completed at the time of disclosure.
Note on the proper use of the business forecasts contained in this report, and other disclaimers:
(Note on the business forecasts and other forward-looking statements)
The business forecasts and other forward-looking statements contained in this report are based on information currently available to the
Company and on certain assumptions that Leopalace21 has judged to be reasonable. Readers should be aware that a variety of factors
might cause actual results to differ significantly from these forecasts.
Concerning assumptions of business forecasts and note on the proper use of these forecasts, see page 5. "1.Qualitative Information on
Financial Results for the Nine Months Ended December 31, 2013 (3) Qualitative information on consolidated results forecasts."
(Method for the acquisition of supplemental explanatory material)
Supplemental Explanatory Material on quarterly financial statements is scheduled to be posted on the Company's homepage on February 7,
2014.
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【Table of Content of Material】
1. Qualitative Information on Financial Results for the Nine Months Ended December 31, 2013 ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 4(1) Analysis of business results ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 4 (2) Analysis of consolidated financial position ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 5 (3) Qualitative information on consolidated results forecasts ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 5
2. Matters Relating to Summary Information (notes) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 6 (1) Changes in significant subsidiaries during the cumulative third quarter under review ・・・・・・・・・・・・・・・・・・・・・・・・ 6 (2) Application of accounting methods specific to the preparation of quarterly consolidatedfinancial statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 6
3. Consolidated Financial Statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7 (1) Consolidated balance sheets ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7 (2) Consolidated statements of operations and consolidated statements of comprehensive income
Consolidated statements of operations ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 9
Consolidated statements of comprehensive income (loss) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・10
(3) Notes regarding consolidated financial statements for the nine months ended December 31, 2013
(Notes Regarding the Premise of the Company as a Going Concern) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・11 (Note Regarding Significant Changes in Shareholders' Equity) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 11 (Segment Information) ・・・・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 11
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1. Qualitative Information on Financial Results for the Nine Months Ended December 31, 2013
(1) Analysis of business results
(Million yen)
Net sales | Operating income | Recurring income | Net income | |
Nine months ended December 31, 2013 | 343,465 | 8,750 | 7,178 | 6,402 |
Nine months ended December 31, 2012 | 329,834 | 5,029 | 5,843 | 5,045 |
Change | 13,631 | 3,721 | 1,334 | 1,357 |
During the cumulative third quarter of the consolidated fiscal year under review, the continuing recovery in the Japanese economy, although moderate, was evidenced primarily by the yen's progressive weakening and the appreciation of stock prices, reflecting the government's economic and monetary policies, as well as signs of a recovery in consumer spending and employment situation.
In the housing rental industry, due to last minute surge in demand before increase in taxation, new housing starts continued to see
year-on-year increases, and the number of vacant houses has also been increasing steadily. To achieve stable occupancy rates against the backdrop of this oversupply in the market, housing supply in selected areas and high-quality housing and services are required.
Under these conditions, the Leopalace Group positions the fiscal year under review, the second year of the new medium-term management
plan, as a year to reach a new growth stage. Based on the foundations built in the previous fiscal year, the Group sought to maximize profits by making its properties under management more competitive and enhancing tenant services.
As a result, the Group achieved increases both in sales and profit in the cumulative third quarter under review, posting net sales of
¥343,465 million (up 4.1% year-on-year), operating income of ¥8,750 million (up 74.0% year-on-year), recurring income of ¥7,178 million (up
22.8% year-on-year), and net income of ¥6,402 million (up 26.9% year-on-year).
The Group's construction business has many building construction contracts stipulating completion in the fourth quarter, which is when demand for rental apartments is busiest. In the leasing business, the number of apartments under management is increasing as apartments are completed, so seasonal fluctuations put a preponderance of earnings into the fourth quarter.
Business performance by segment is as follows:
(Million yen)
Net sales | Operating lncome (loss) | |||||
Nine months ended December 31, 2012 | Nine months ended December 31, 2013 | change | Nine months ended December 31, 2012 | Nine months ended December 31, 2013 | change | |
Leasing Business | 286,266 | 288,568 | 2,301 | 8,276 | 11,277 | 3,000 |
Construction Business | 30,741 | 40,758 | 10,016 | (617) | 608 | 1,225 |
Hotels & Resort Business | 4,839 | 5,478 | 639 | (682) | (625) | 57 |
Elderly Care Business | 7,116 | 7,631 | 514 | (477) | (446) | 31 |
Others | 869 | 1,028 | 158 | 145 | 193 | 47 |
Adjustments | - | - | - | (1,615) | (2,256) | (640) |
Total | 329,834 | 343,465 | 13,631 | 5,029 | 8,750 | 3,721 |
(i) Leasing Business
The occupancy rate at the end of the third quarter of the consolidated fiscal year under review was 84.12% (up 1.83 point from the same period last year), and the average occupancy rate for the period was 83.89% (up 1.38 points from the same period last year).
In the leasing business, the Company strove to achieve stable occupancy rates and encouraged long-term tenancies by promoting corporate sales in all industries, keeping tenants from leaving its properties through active proposals of relocation, providing a variety of apartments in the "Room-Customize" service, and increasing apartment buildings with security systems installed. The Company continued to adjust rents paid based on market rents and to cut costs by reviewing routine property management tasks.
The number of units under management at the end of the third quarter under review was 547,000 (increasing 1,000 from the end of last
fiscal year), and the number of direct offices was 184 (increasing 2). The number of franchise offices was 167 (decreasing 25).
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As a result, net sales amounted to ¥288,568 million (up 0.8% year-on-year), and operating income was ¥11,277 million (up 36.3%
year-on-year).
(ii) Construction Business
Orders received during the cumulative third quarter of the consolidated fiscal year under review were ¥64,032 million (up 28.9%
year-on-year), and orders received outstanding at the end of the third quarter under review stood at ¥56,974 million (up 5.7% year-on-year). In the construction business, the Company continued to focus on receiving orders for apartments in areas where solid demand was
anticipated, especially in the three metropolitan areas, prioritizing increasing profitability in the leasing business. Meanwhile, the Company
promoted installation of solar power systems and construction of buildings other than apartment buildings, including elderly care facilities and stores. The Company also strove to enhance product capabilities, for example by installing a non-sound system to enhance noise insulation significantly in the standard specifications.
As a result, net sales came to ¥40,758 million (up 32.6% year-on-year), and operating income was ¥608 million (compared to an operating loss of ¥617 million in the same period of last fiscal year).
(iii) Hotels & Resort Business
Net sales in resort facilities in Guam and hotels in Japan were ¥5,478 million (up 13.2% year-on-year), and operating loss was ¥625 million
(improving ¥57 million year-on-year).
(iv) Elderly Care Business
Net sales were ¥7,631 million (up 7.2% year-on-year), and operating loss was ¥446 million (improving ¥31 million year-on-year).
(v) Other Businesses
In other businesses such as the small-claims and short-term insurance business, the finance business, and the solar power generation business, net sales were ¥1,028 million (up 18.3% year-on-year), and the operating income was ¥193 million (up 32.8% year-on-year).
(2) Analysis of consolidated financial position
(Million yen)
Total Assets | Total Liabilities | Net Assets | |
As of December 31, 2013 | 275,515 | 184,641 | 90,874 |
As of March 31, 2013 | 261,649 | 203,498 | 58,151 |
Change | 13,865 | (18,857) | 32,723 |
Total assets at the end of the third quarter of the consolidated fiscal year under review increased ¥13,865 million from the end of the previous fiscal year, to ¥275,515 million. This was mainly attributable to decreases of ¥4,479 million in prepaid expenses and ¥4,015 million in long-term prepaid expenses, and increases of ¥16,226 million in cash and cash equivalents, ¥2,632 million in leased assets and ¥2,490
million in construction in progress.
Total liabilities decreased ¥18,857 million from the end of the previous fiscal year, to ¥184,641 million. This primarily reflected an increase of ¥399 million in customer advances for projects in progress and ¥2,791 million in leased obligations, and decrease of ¥7,564 million in accounts payable for completed projects, ¥12,626 million in short and long-term advances received, and ¥3,955 million in reserve for apartment vacancy loss.
As a result, net assets were up ¥32,723 million from the end of the previous fiscal year, to ¥90,874 million, chiefly due to an increase of
¥21,602 million in common stock and capital surplus through public offering, a decrease of ¥4,112 million in negative foreign currency translation adjustments balance and an increase of ¥642 million in retained earnings due to the posting of net income. The ratio of shareholders' equity to assets rose 10.8 points from the end the previous fiscal year, to 33.0%.
(3) Qualitative information on consolidated results forecasts
Consolidated results forecasts announced in the consolidated financial statements published on May 10, 2013 remain unchanged.
The results forecasts are the estimates of the Company based on information available at the time of announcement of this document. Actual results may differ materially from these forecasts due to various factors.
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2. Matters Relating to Summary lnformation (notes)(1) Changes in significant subsidiaries dunng the cumulative third quarter under review
Not applicable
(2) Application of accounting methods specific lo the preparation of quarterly consolidated financial statements
Tax expenses are calculated by multiplying nelincome belare income taxes by a reasonatJy estimated effective tax rate, alter applying the tax effect accounting lo nelincome belare income taxes far the consolidated fiscal year that includes the third quarter under review
.6.
3. Consolidated Financial Statements (1) Consolidated balance sheets(Million yen)
December 31, 2013 | March 31, 2013 | |
Cash and cash equivalents Trade receivables Accounts receivable for completed projects Operating loans Marketable securities Payment for construction in progress Raw materials and supplies Prepaid expenses Deferred tax assets Other accounts receivable Other Allowance for doubtful accounts Total | 72,908 4,443 1,131 1,590 267 1,107 471 8,292 4,273 797 5,402 (248) | 56,681 4,360 2,231 1,879 504 339 457 12,772 4,273 1,017 6,722 (346) |
Cash and cash equivalents Trade receivables Accounts receivable for completed projects Operating loans Marketable securities Payment for construction in progress Raw materials and supplies Prepaid expenses Deferred tax assets Other accounts receivable Other Allowance for doubtful accounts Total | 100,437 | 90,896 |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 55,702 81,759 4,431 2,666 2,721 | 54,740 80,780 1,798 175 1,502 |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 147,281 | 138,997 |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 6,741 | 6,613 |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 7,272 566 1,459 4,111 6,663 3,156 (2,212) | 7,176 570 1,900 8,127 6,586 3,339 (2,606) |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 21,016 | 25,094 |
Fixed assets Property, plant and equipment Buildings and structures (Net) Land Leased assets (Net) Construction in progress Other (Net) Total Intangible assets Investments and other assets Investment securities Long-term loans Bad debt Long-term prepaid expenses Deferred tax assets Other Allowance for doubtful accounts Total Total fixed assets | 175,039 | 170,705 |
Deferred assets | 37 | 48 |
Total assets | 275,515 | 261,649 |
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(Million yen)
December 31, 2013 | March 31, 2013 | |
Current liabilities Accounts payable Accounts payable for completed projects Short-term borrowings Bonds due within one year Lease obligations Unpaid expenses Accrued expenses Accrued income taxes Advances received Customer advances for projects in progress Reserve for employees' bonuses Reserve for warranty obligations on completed projects Reserve for fulfillment of guarantees Other Total | 2,582 6,742 12,940 560 1,426 12,751 271 793 41,979 7,716 1,948 142 441 3,937 | 2,670 14,307 14,814 560 1,097 13,252 12 394 49,036 3,807 ― 71 457 4,662 |
Current liabilities Accounts payable Accounts payable for completed projects Short-term borrowings Bonds due within one year Lease obligations Unpaid expenses Accrued expenses Accrued income taxes Advances received Customer advances for projects in progress Reserve for employees' bonuses Reserve for warranty obligations on completed projects Reserve for fulfillment of guarantees Other Total | 94,233 | 105,144 |
Long-term liabilities Bonds Long-term borrowings Lease obligations Long-term advances received Lease/guarantee deposits received Retirement benefit reserves Reserve for apartment vacancy loss Other Total | 1,200 29,300 3,517 26,788 8,603 9,114 9,995 1,888 | 1,480 30,020 1,054 32,357 8,984 8,634 13,950 1,872 |
Long-term liabilities Bonds Long-term borrowings Lease obligations Long-term advances received Lease/guarantee deposits received Retirement benefit reserves Reserve for apartment vacancy loss Other Total | 90,407 | 98,353 |
Total liabilities | 184,641 | 203,498 |
Common stock Capital surplus Retained earnings Treasury stock Total | 73,668 49,887 (24,616) (3,660) | 62,867 39,424 (31,018) (4,726) |
Common stock Capital surplus Retained earnings Treasury stock Total | 95,279 | 66,546 |
Accumulated other comprehensive income (loss) Net unrealized gains on "other securities" Translation adjustments Total | 509 (4,949) | 648 (9,061) |
Accumulated other comprehensive income (loss) Net unrealized gains on "other securities" Translation adjustments Total | (4,439) | (8,413) |
Share subscription rights | 18 | 18 |
Minority interests | 16 | － |
Total net assets | 90,874 | 58,151 |
Total liabilities and net assets | 275,515 | 261,649 |
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(2) Consolidated statements of operations and consolidated statements of comprehensive incomeConsolidated statements of operations
(Million yen)
Nine months ended December 31, 2013 (Apr. 2013-Dec. 2013) | Nine months ended December 31, 2012 (Apr. 2012-Dec. 2012) | |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 343,465 294,030 | 329,834 288,699 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 49,434 | 41,134 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 40,684 | 36,105 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 8,750 | 5,029 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 31 56 ― 45 ― 132 | 34 34 5 2,246 108 151 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 265 | 2,580 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 1,174 433 231 | 1,075 439 252 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 1,838 | 1,766 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 7,178 | 5,843 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 0 ― | ― 3 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | ― | 70 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 0 | 73 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 6 132 | 28 641 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 139 | 669 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 7,038 | 5,246 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 636 | 201 |
Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividend income Gain on sales of investment securities Foreign exchange income Consumption tax refund Other Total Non-operating expenses Interest expenses Commission fee Other Total Recurring profit Extraordinary income Gain on sales of property, plant and equipment Reversal of reserve for disaster loss Gain on liquidation of subsidiaries Total Extraordinary losses Loss on disposal of property, plant and equipment Impairment loss Total Loss before taxes and minority interests Income taxes Net income | 6,402 | 5,045 |
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Consolidated statements of comprehensive income (loss)
(Million yen)
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(3) Notes regarding consolidated financial statements for the nine months ended December 31, 2013 (Notes Regarding the Premise of the Company as a Going Concern)There are no relevant items.
(Note Regarding Significant Changes in Shareholders' Equity)
As of the end of the nine months ended December 31, 2013, both the Company's capital and legal capital surplus increased ¥10,801 million, to ¥73,668 million and ¥48,692 million, respectively, as a result of a capital increase via a public offering (payment date: December 11,
2013) conducted during the period under review.
i Nine Months Ended December 31, 2012 (April 1, 2012 through December 31, 2012)
1. Sales and Profit, as well as Losses by Reportable Segment
(Million yen)
Total
Notes: 1. The "Others" classification is the business segment not included in reportable segments, and comprises such businesses as the small-claims and short-term insurance business, residential sales businesses, and financing businesses.
2. The segment earnings (or loss) adjustment of (¥1,615) million includes ¥45 million in inter-segment eliminations, and (¥1,661) million in corporate expenses not allocated to reportable segments. Corporate expenses consist mainly of general administrative expenses for administrative departments that are not part of reportable segments.
3. Segment earnings (or loss) are adjusted to the operating income figure on the consolidated statements of operations.
ii Nine Months Ended December 31, 2013 (April 1, 2013 through December 31, 2013)
1. Sales and Profit, as well as Losses by Reportable Segment
(Million yen)
Note 3
Notes: 1. The "Others" classification is the business segment not included in reportable segments, and comprises such businesses as the small-claims and short-term insurance business, financing businesses and solar power generation business.
2. The segment earnings (or loss) adjustment of (¥2,256) million includes (¥338) million in inter-segment eliminations, and (¥1,917) million in corporate expenses not allocated to reportable segments. Corporate expenses consist mainly of general administrative expenses for administrative departments that are not part of reportable segments.
3. Segment earnings (or loss) are adjusted to the operating income figure on the consolidated statements of operation
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