October 28, 2016‌‌‌‌

Mitsui Engineering & Shipbuilding Co., Ltd. and its Consolidated Subsidiaries

2nd Quarter CONSOLIDATED FINANCIAL RESULTS FOR FY2016

From April 1, 2016 to September 30, 2016

Code number:

7003

URL: http://www.mes.co.jp/

Shares Listed: Tokyo Stock Exchange

Representative: Takao Tanaka, President, Representative Director CEO

Inquiries:

Yuichi Shiomi, Executive Officer, General Manager of Finance & Accounting Dept. Tel: +81 3 3544 3225

Scheduled date to file Quarterly securities report: November 11, 2016 Scheduled date to commence dividend payments: －

Supplementary explanatory materials prepared: Yes

Explanatory meeting: Yes (for analysts)

(Amounts less than one million yen are truncated)

  1. Consolidated Financial Results for 2nd Quarter FY2016 (April 1,2016 to September 30,2016)

    (Millions of yen)

    From Apr. 1,

    to Sep. 30, 2015

    From Apr. 1,

    to Sep. 30, 2016

    Change (%)

    New Orders Received

    211,597

    172,219

    (18.6)

    Net Sales

    380,954

    322,174

    (15.4)

    Operating loss

    (889)

    (2,330)

    －

    Ordinary Income

    2,425

    337

    (86.1)

    Profit (loss) attributable to owners of parent

    (1,089)

    3,925

    －

    Earnings per Share (Yen)

    (1.35)

    4.86

    －

    Operating Cash Flow

    22,825

    104

    (99.5)

    Investing Cash Flow

    (62,991)

    (23,248)

    －

    Financing Cash Flow

    36,311

    39,614

    9.1

    Figures in parentheses represent negative.

    (Millions of yen)

    As of Mar. 31, 2016

    As of Sep. 30, 2016

    Total Assets

    1,094,042

    1,065,293

    Net Assets

    343,853

    324,386

    Shareholders' Equity to Total Assets

    21.5%

    20.5%

    Note:

    This consolidated financial results has been prepared in accordance with Japanese accounting standards and Japanese law.

  2. Dividends (Yen)

    FY2015

    FY2016

    FY2016

    (forecast)

    Annual dividends per share

    First quarter

    －

    －

    Second quarter

    0.00

    0.00

    Third quarter

    －

    －

    Year-end

    4.00

    5.00

    Total

    4.00

    5.00

    Note:

    Revision of the most recent dividends forecast: None

  3. Forecast of Financial Results for FY2016 (Millions of yen)

Net Sales

Operating Income

Ordinary Income

Profit attributable to owners of parent

Earnings per Share (Yen)

Year ending March 31, 2017

740,000

15,000

20,000

14,000

17.32

Note:

Revision of the most recent financial forecast: Yes

Reference: Estimate is based on exchange rate of USD1.00 = JPY105.0

4.Notes

  1. Changes in significant subsidiaries during the period

    (changes in specified subsidiaries resulting in the change in scope of consolidation): None

  2. Application of specific accounting for preparing the quarterly consolidated financial statements: Yes

  3. Changes in accounting policies, accounting estimates or restatements

    ⅰ） Changes due to amendment of accounting standards: Yes

    ⅱ） Changes due to other reasons: None

    ⅲ） Changes in accounting estimates: None

    ⅳ） Restatements: None

  4. Number of shares outstanding (common stock)

FY2015 / FY2015 2Q

FY2016 2Q

Number of shares outstanding at the end of period (including treasury stock)

shares

830,987,176

shares

830,987,176

Number of treasury stock at the end of period

22,754,073

22,756,111

Average number of shares during the period (cumulative quarterly consolidated period)

808,287,496

808,247,735

NOTICE REGARDING QUARTERLY REVIEW PROCEDURES FOR THE QUARTERLY FINANCIAL RESULTS

This quarterly financial results statement is exempt from the quarterly review procedures based upon the Financial Instruments and Exchange Act. At the time of disclosure of this quarterly financial results statement, the quarterly review procedure based upon the Financial Instruments and Exchange Act has not been completed.

FORWARD LOOKING STATEMENTS AND OTHER SPECIAL ITEMS

The forecasts for financial results are based on information available at the time this report was released. These forecasts and other forward-looking statements are not guarantees of future performance. Actual operating results may differ from the above forecasts due to known and unknown risks, uncertainties, and other factors.

New Orders by Segment (Millions of yen)

From Apr. 1,

to Sep. 30, 2015

From Apr. 1,

to Sep. 30, 2016

Difference

Ship & Ocean

80,660

49,813

(30,846)

(38.2%)

Machinery

54,441

59,375

4,933

9.1%

Engineering

57,884

43,232

(14,652)

(25.3%)

Others

18,610

19,797

1,187

6.4%

Total

211,597

172,219

(39,378)

(18.6%)

Net Sales by Segment (Millions of yen)

From Apr. 1,

to Sep. 30, 2015

From Apr. 1,

to Sep. 30, 2016

Difference

Ship & Ocean

211,213

163,675

(47,538)

(22.5%)

Machinery

80,969

75,350

(5,618)

(6.9%)

Engineering

71,004

65,136

(5,867)

(8.3%)

Others

17,766

18,011

245

1.4%

Total

380,954

322,174

(58,780)

(15.4%)

Operating Income (Loss) by Segment (Millions of yen)

From Apr. 1,

to Sep. 30, 2015

From Apr. 1,

to Sep. 30, 2016

Difference

Ship & Ocean

(8,990)

(4,439)

4,551

Machinery

6,856

4,256

(2,600)

Engineering

192

(3,030)

(3,222)

Others

1,051

882

(169)

Total

(889)

(2,330)

(1,441)

Figures in parentheses represent negative.

(Millions of yen)

As of March 31, 2016

As of September 30, 2016

Assets

Current assets

Cash and time deposits

139,374

144,496

Trade receivables

282,419

233,437

Merchandise and finished goods

4,107

4,249

Work in progress

33,830

41,602

Raw materials and supplies

5,010

4,987

Others

75,546

91,818

Allowance for doubtful accounts

(2,466)

(2,056)

Total current assets

537,822

518,535

Non-current assets

Property, plant and equipment

Land

257,694

253,326

Others, net

121,357

120,652

Total property, plant and equipment

379,051

373,979

Intangible assets

Goodwill

17,877

15,385

Others

14,482

12,642

Total intangible assets

32,360

28,028

Investments, long-term loans and other assets

Others

147,544

146,929

Allowance for doubtful accounts

(2,736)

(2,178)

Total investments, long-term loans and other assets

144,807

144,750

Total non-current assets

556,220

546,758

Total assets

1,094,042

1,065,293

Consolidated Balance Sheets

MES - Mitsui Engineering & Shipbuilding Co. 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 06:36:03 UTC.

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