NITERRA CO., LTD.
URL : http://www.ngkntk.co.jp
Stock listing : Tokyo 1st section, Nagoya 1st section
Code number : 5334
Head office : 14-18 Takatsuji-cho, Mizuho-ku, Nagoya, 467-8525, Aichi, Japan
Representative : Shinichi Odo, President
For the three months:
Billions of yen
Three months ended
2014 2015
Jun.30 Sep.30 Dec. 31 Mar.31 Jun.30
Net sales | 84.6 | 84.4 | 88.9 | 89.8 | 94.0 |
Operating income | 15.1 | 14.2 | 17.3 | 15.6 | 17.6 |
Ordinary income | 15.6 | 17.2 | 20.3 | 14.9 | 19.2 |
Profit attributable to owners of parent | 10.1 | 6.2 | 13.4 | 7.0 | 12.5 |
Sales by industry segments: Spark & glow plugs Automotive sensors
Automotive components
Semiconductor
Ceramics
Technical ceramics
Operating income ratio:
Percent
Consolidated 17.8 16.8 19.5 17.4 18.7
By industry segments:
Automotive components 24.5 22.5 23.9 22.6 23.3
Semicondutor
Ceramics
Technical ceramics
Actual exchange rate:
Yen
Yen - U.S. dollar 102 104 115 119 121
Yen - Euro 140 138 143 134 134
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Consolidated Quarterly Balance Sheets June 30, 2015 and March 31, 2015
Assets
Current assets
Millions of yen
March 31, 2015 June 30, 2015
Cash and deposits 38,708 62,464
Notes and accounts receivable-trade 68,514 74,041
Short-term investment securities 62,839 38,522
Inventories 78,379 82,499
Deferred tax assets 12,679 11,517
Other 12,549 13,384
Allowance for doubtful accounts (387) (410)
Total current assets 273,284 282,020
Non-current assets
Property, plant and equipment
Buildings and structures, net 50,775 53,039
Machinery, equipment and vehicles, net 54,718 58,962
Land 18,082 20,328
Construction in progress 13,448 13,217
Other, net 3,043 2,824
Total property, plant and equipment 140,068 148,372
Intangible assets
Software 3,131 3,541
Other 288 866
Total intangible assets 3,420 4,408
Investments and other assets
Investment securities 65,714 70,770
Deferred tax assets 867 822
Other 2,270 2,273
Allowance for doubtful accounts (127) (127)
Total investments and other assets 68,724 73,738
Total non-current assets 212,213 226,519
Total assets 485,497 508,539
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NGK SPARK PLUG CO., LTD. (5334)
Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2016
Liabilities
Current liabilities
Millions of yen
March 31, 2015 June 30, 2015
Accounts payable-trade 25,239 24,876
Short-term loans payable 668 10,110
Current portion of bonds 15,000 15,000
Lease obligations 187 207
Income taxes payable 7,782 5,674
Other 30,456 28,658
Total current liabilities 79,334 84,528
Non-current liabilities
Bonds payable 25,000 25,000
Long-term loans payable 5,000 5,000
Lease obligations 298 318
Net defined benefit liability 24,012 24,505
Deferred tax liabilities 7,129 9,349
Other 1,343 1,514
Total non-current liabilities 62,783 65,687
Total liabilities 142,117 150,216
Net assets
Shareholders' equity
Capital stock 47,869 47,869
Capital surplus 54,824 54,824
Retained earnings 223,135 231,729
Treasury stock (7,640) (7,643)
Total shareholders' equity 318,189 326,780
Valuation and translation adjustments
Valuation difference on available-for-sale securities 30,297 33,487
Foreign currency translation adjustment (4,017) (979) Remeasurements of defined benefit plans (3,496) (3,375) Total valuation and translation adjustments 22,782 29,132
Non-controlling interests 2,407 2,410
Total net assets 343,380 358,323
Total liabilities and net assets 485,497 508,539
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NGK SPARK PLUG CO., LTD. (5334)
Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2016
Consolidated Quarterly Statement of Operations for the Three Months Ended June 30, 2014 and 2015
Millions of yen
2014 2015
Net sales 84,571 94,048
Cost of sales 54,773 59,988
Gross profit 29,798 34,060
Selling, general and administrative expenses 14,734 16,454
Operating income 15,064 17,605
Non-operating income
Interest income 283 299
Dividends income 501 563
Equity in earnings of affiliates 327 151
Foreign exchange gains - 688
Other 288 237
Total non-operating income 1,401 1,941
Non-operating expenses
Interest expenses 127 76
Foreign exchange losses 429 -
Depreciation of inactive noncurrent assets 48 55
Other 307 205
Total non-operating expenses 912 338
Ordinary income 15,553 19,208
Extraordinary income
Gain on sales of property, plant and equipment 20 19
Total extraordinary income 20 19
Extraordinary loss
Loss on sales or disposal of property, plant and equipment 65 149
Total extraordinary losses 65 149
Income before income taxes and non-controlling interests 15,508 19,077
Income taxes-current 2,755 4,217
Income taxes-deferred 2,566 2,278
Total income taxes 5,321 6,495
Profit 10,187 12,581
Profit attributable to non-controlling interests 68 71
Profit attributable to owners of parent 10,118 12,510
Net income per share
Yen
- Basic 46.49 57.49
- Diluted - -
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NGK SPARK PLUG CO., LTD. (5334)
Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2016
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Millions of yen
2014 2015
NGK SPARK PLUG CO., LTD. (5334)
Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2016
Consolidated Quarterly Statements of Cash Flows for the Three Months Ended June 30, 2014 and 2015
Net cash provided by (used in) operating activities
Millions of yen
2014 2015
Income before income taxes and non-controlling interests 15,508 19,077
Depreciation and amortization 3,117 3,688
Increase in net defined benefit liability 70 53
Interest and dividends income (785) (863)
Interest expenses 127 76
Equity in earnings of affiliates (327) (151)
Loss on disposal of noncurrent assets 45 130
Increase in notes and accounts receivable-trade (1,547) (1,000) Increase in inventories (706) (548) (Decrease) increase in notes and accounts payable-trade 667 (2,333) Other, net (3,595) (3,327) Subtotal 12,573 14,802
Interest and dividends income received 749 1,143
Interest expenses paid (14) (22) Income taxes paid (15,077) (6,733) Net cash provided by (used in) operating activities (1,769) 9,190
Net cash used in investment activities
Net decrease in time deposits 1,379 1,248
Net decrease in short-term investment securities 1,388 4,833
Purchase of property, plant and equipment | (11,311) | (8,546) |
Purchase of intangible assets | (264) | (244) |
Purchase of investment securities | (1,400) | (41) |
Proceeds from sales and redemption of investment securitie | s 1,400 | 2,100 |
Purchase of shares of subsidiaries resulting in change in sco of consolidation | pe - | (7,168) |
Other, net (36) 62
Net cash used in investment activities (8,845) (7,757)
Net cash provided by (used in) financing activities
Net increase in short-term loans payable 0 9,436
Purchase of treasury stock (10) (3) Cash dividends paid (3,233) (3,891) Other, net (134) (118) Net cash provided by (used in) financing activities (3,378) 5,423
Effect of exchange rate change on cash and cash equivalents 137 305
Net increase (decrease) in cash and cash equivalents (13,856) 7,162
Cash and cash equivalents at beginning of period 68,966 75,540
Cash and cash equivalents at end of period 55,110 82,702
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NGK SPARK PLUG CO., LTD. (5334)
Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2016
Segment information
Information about sales and segment income (loss) by reportable segments
Reportable segments
Three months ended June 30, 2014
Automotive components
Technical ceramics
Semiconductor Ceramics Total
Total
Millions of yen
Others Total Adjustment Consolidated
Net sales 71,185 6,630 5,325 11,956 83,141 1,430 84,571 - 84,571
Segment income (loss) 17,412 (2,542) 159 (2,383) 15,029 35 15,064 - 15,064
Three months ended June 30, 2015
Net sales 77,358 9,893 5,632 15,526 92,885 1,163 94,048 - 94,048
Segment income (loss) 18,054 (735) 278 (457) 17,597 7 17,605 - 17,605
Note 1: "Others" represents businesses such as Material Sales, Welfare Program Service and Transportation, which are not included in reportable segments. Note 2: Segment income (loss) is adjusted to Operating income (loss) of "Consolidated Quarterly Statement of Operations".
Note 3: We acquired NIHON CERATEC Co., Ltd. and made it into our subsidiary on April 1 2015. Its sales and income are included in Semiconductor and Ceramics in the above segment information.
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