[Summary] Consolidated Financial Results for the Year Ended March 31, 2016 [IFRS]

Transcription

1 [Summary] Consolidated Financial Results for the Year Ended March 31, 2016 [IFRS] May 12, 2016 Company Name Nihon Dempa Kogyo Co., Ltd. Stock Exchange Listing: Tokyo Stock Exchange, 1st Section Code 6779 URL Representative Toshiaki Takeuchi, Representative Director & Chairman of the Board, President and CEO Person in charge for inquiries Hiromi Kato, Executive Vice President and Director Phone: Scheduled date of the shareholder meeting June 24, 2016 Scheduled date to submit the Securities Report June 24, 2016 Scheduled commencement date of dividend payment June 27, 2016 Supplemental material for financial results : Yes Holding of the briefing session for financial results : Yes 1. Consolidated Financial Results for the Year Ended March 31, 2016 (April 1, 2015 March 31, 2016) (1) Consolidated Operating Results (yeartodate) (% figures represent the changes from the same period of the previous year) Net sales Operating income Income before Total comprehensive attributable to income tax for the period income for the period owners of the parent The year ended Million Yen % Million Yen % Million Yen % Million Yen % Million Yen % Million Yen % March 31, ,850 (6.0) (71.4) (1,414) March 31, ,730 (6.0) 175 (27.0) (569) (569) 1, Basic earnings per share Diluted earnings per share The year ended Yen Yen March 31, March 31, 2015 (29.00) (2) Consolidated Financial Position Total assets Total equity Equity attributable to Equity attributable to owners of the parent owners of the parent ratio Million Yen Million Yen Million Yen % As of March 31, ,966 25,700 25, As of March 31, ,670 27,507 27, Dividends The year ended March 31, 2015 The year ended March 31, 2016 The year ending March 31, 2017 (Forecast) Annual dividends per share First quarterend Second quarterend Third quarterend Fiscal yearend Total Yen Yen Yen Yen Yen Consolidated Financial Results Forecast for the Year Ending March 31, 2017 (April 1, 2016 March 31, 2017) (% figures represent the changes from the same period of the previous year) Six months ending September 30, 2016 The year ending March 31, 2017 Net sales Operating income Million Yen % Million Yen % Million Yen 22,000 (3.3) , Income before income tax Basic earnings attributable to for the period per share owners of the parent % Million Yen % Million Yen % Yen

2 Notes (1) Significant changes in subsidiaries during this period (Changes in "Specified Subsidiaries" accompanying changes in scope of consolidation) : None (2) Changes in accounting policies and accounting estimates i ) Changes in accounting policies required by IFRS : None ii) Changes in accounting policies other than i ) : None iii) Changes in accounting estimates : None (3) Number of outstanding shares (Ordinary shares) (shares) Number of outstanding shares at the end of the period i ) (including treasury shares) March 31, ,757,905 March 31, ,757,905 ii) Number of treasury shares at the end of the period March 31, ,131,823 March 31, ,131,218 iii) Average number of shares for the period (yeartodate) March 31, ,626,397 March 31, ,627,230 * Explanation about appropriate use of consolidated financial results forecast, other special notes 1. Forwardlooking statements in this document about our future performance are based on the information we currently have and certain assumptions we consider reasonable. Due to the unforeseen circumstances, actual results may differ from such estimates. 2. This summary of the business results and the attached financial statements are unaudited and prepared in accordance with International Financial Reporting Standards (IFRS). 2

3 Financial Statements (1) Consolidated Statements of Financial Position As of March 31, 2015 As of March 31, 2016 Assets Current assets: Cash and cash equivalents 14,364 17,161 Trade receivables 11,617 10,390 Inventories 12,540 10,621 Income taxes refundable 9 5 Derivative assets Others 3,378 2,334 Total current assets 41,945 40,886 Noncurrent assets: Property, plant and equipment 25,643 23,504 Intangible assets 1,105 1,041 Investment securities 1, Deferred tax assets 894 1,101 Others Total noncurrent assets 29,724 27,080 Total assets 71,670 67,966 Liabilities Current liabilities: Loans and borrowings 10,593 17,254 Trade and other payables 8,220 7,373 Derivative liabilities Provisions Income taxes payable Others Total current liabilities 19,816 25,478 Noncurrent liabilities: Loans and borrowings 19,370 12,008 Deferred tax liabilities Employee benefits 3,666 3,827 Provisions Deferred government grants Others Total noncurrent liabilities 24,346 16,788 Total liabilities 44,162 42,266 Equity Equity attributable to owners of the Company: Share capital 10,649 10,649 Share premium 8,564 8,563 Other components of equity 1,260 (174) Retained earnings 7,032 6,660 Total equity attributable to owners of the Company 27,507 25,700 Total equity 27,507 25,700 Total liabilities and equity 71,670 67,966 3

4 (2) Consolidated Statements of Comprehensive Income For the year Ended For the year Ended March 31, 2015 March 31, 2016 Net sales 47,730 44,850 Cost of sales 38,801 36,137 Gross profit 8,928 8,713 Selling, general and administrative expenses 7,713 6,718 Research and development expenses 2,133 1,921 Other operating income 2, Other operating expenses 1, Operating income Financial income Financial expenses Income before income tax Income tax expenses/(benefits) 928 (214) Net (loss)/income for the period (569) 317 Other comprehensive income Items that will not be reclassified to profit or loss: Remeasurement of defined benefit plan 297 (296) Subtotal 297 (296) Items that may be reclassified subsequently to profit or loss: Foreign currency translation differences for foreign operations 1,717 (1,416) Change in fair value of availableforsale financial assets 170 (238) Change in fair value of availableforsale financial assets transferred to profit or loss (360) 210 Income tax relating to items that may be reclassified 62 8 Subtotal 1,590 (1,434) Other comprehensive income/(loss) for the period, net of income tax 1,888 (1,731) Total comprehensive income/(loss) for the period 1,319 (1,414) Net (loss)/income attributable to: Owners of the Company (569) 317 Total comprehensive income/(loss) attributable to: Owners of the Company 1,319 (1,414) Earnings per share: Basic (loss)/earning per share (Yen) (29.00)

5 (3) Consolidated Statements of Changes in Equity Share Capital Additional paidin capital Share premium Treasury shares Total share premium Balance at April 1, 2014 Net loss Other comprehensive income, net of income tax Remeasurement of defined benefit plan Foreign currency translation differences for foreign operations Net change in fair value of availableforsale financial assets 10,649 11,353 (2,787) 8,565 Transactions with owners, recorded directly in equity Contributions by and distributions to owners Changes in treasury shares, net Dividends declared Total contributions by and distributions to owners Total transactions with owners Balance at March 31, 2015 Other comprehensive loss, net of income tax Remeasurement of defined benefit plan Foreign currency translation differences for foreign operations Net change in fair value of availableforsale financial assets 10,649 11,353 (2,788) 8,564 Total comprehensive loss for the period Transactions with owners, recorded directly in equity Contributions by and distributions to owners Changes in treasury shares, net Dividends declared Total contributions by and distributions to owners Total transactions with owners Balance at March 31, ,649 11,353 (2,789) 8,563 5

6 Other components of equity Availableforsale differences to owners of Total equity Translation Attributable Total other Retained components earnings financial for foreign the Company of equity assets operations Balance at April 1, 2014 Net loss Other comprehensive income, net of income tax Remeasurement of defined benefit plan 135 (465) (329) 7,696 (569) ,581 (569) ,581 (569) 297 Foreign currency translation differences for foreign operations 1,717 1,717 1,717 1,717 Net change in fair value of availableforsale financial assets (127) (127) (127) (127) Transactions with owners, recorded directly in equity Contributions by and distributions to owners Changes in treasury shares, net (127) 1,717 1,590 (271) 1,319 1,319 Dividends declared (392) (392) (392) Total contributions by and distributions to owners (392) (393) (393) Total transactions with owners (392) (393) (393) Balance at March 31, 2015 Other comprehensive loss, net of income tax Remeasurement of defined benefit plan 8 1,251 1,260 7, (296) 27, (296) 27, (296) Foreign currency translation differences for foreign operations (1,416) (1,416) (1,416) (1,416) Net change in fair value of availableforsale financial assets (18) (18) (18) (18) Total comprehensive loss for the period Transactions with owners, recorded directly in equity Contributions by and distributions to owners Changes in treasury shares, net (18) (1,416) (1,434) 20 (1,414) (1,414) Dividends declared (392) (392) (392) Total contributions by and distributions to owners (392) (393) (393) Total transactions with owners (392) (393) (393) Balance at March 31, 2016 (10) (164) (174) 6,660 25,700 25,700 6

7 (4) Consolidated Statements of Cash Flows For the Year Ended For the Year Ended March 31, 2015 March 31, 2016 Operating activities: Income before income tax Depreciation and amortisation 3,809 3,558 Gain on sales of land use right (406) Gain on sales of investment property (867) Gain on sales of property, plant and equipment (304) (156) Loss on disposal of property, plant and equipment 7 5 Impairment losses of property, plant and equipment 1, Gain on sales of investment securities (360) (102) Impairment losses of investment securities 342 Gain on receipt of subsidies (150) (119) Insurance claim income (645) (195) Decrease in trade receivables 1, (Increase)/decrease in inventories (937) 1,487 Decrease in trade payables (428) (422) Increase/(decrease) in accrued bonuses 120 (347) Increase in derivative assets (32) (340) Increase/(decrease) in derivative liabilities 63 (89) Decrease in provisions (10) (13) Interest and dividend income (83) (83) Interest expense Interest and dividends received Interest paid (186) (173) Proceeds from insurance claim income 898 Income tax paid, net (109) (156) Other, net (1,296) 288 Net cash provided by operating activities 1,405 5,667 Investing activities: Purchase of property, plant and equipment (2,107) (1,709) Purchase of intangible assets (147) (44) Purchase of investments and other assets (2,678) (1,676) Proceeds from sales of land use right 463 Proceeds from sales of investment property 1,124 Proceeds from sales of property, plant and equipment Proceeds from sales of investments and other assets 2,556 1,978 Other, net 22 6 Net cash used in investing activities (218) (1,204) Financing activities: Proceeds from longterm loans and borrowings 8,000 9,000 Repayment of longterm loans and borrowings (13,070) (10,586) Net increase in shortterm loans and borrowings Cash dividends paid (389) (395) Purchase and sales of treasury shares, net Net cash used in financing activities (5,240) (1,101) Net (decrease)/increase in cash and cash equivalents (4,054) 3,361 Cash and cash equivalents at beginning of year 17,727 14,364 Net effect of currency translation on cash and cash equivalents 691 (564) Cash and cash equivalents at end of period 14,364 17,161 7

8 (5) Segment Information 1. General information The main activities of the Group are the integrated manufacture and sale of quartz crystal units, crystal devices, ultrasonic transducers and synthetic quartz crystals, and there are no separate operating segments. Therefore, the Group has a single reportable segment. 2. Information about products and services Net sales by type of products is as follows: For the Year Ended For the Year Ended Increase / (decrease) March 31, 2015 March 31, 2016 Composition Composition Change Amount Amount Amount (%) (%) (%) Quartz crystal units 28, , (2,024) (7.0) Crystal devices 14, , Others 4, , (1,076) (7.3) Total 47, , (2,880) (6.0) 5.3 8