Consolidated Financial Results For the Second Quarter Ended September 30, 2014

Transcription

1 October 30, 2014 Consolidated Financial Results For the Second Quarter Ended Company name: IBIDEN CO., LTD. Stock exchange listings: Tokyo and Nagoya Stock Exchange (First Section) Stock code number: 4062 URL: Representative: Hiroki Takenaka, President & CEO, Representative Director Contact : Hisashi Sano, Manager of Finance Division Telephone: Submission date of quarterly report: November 11, 2014 (Amounts less than one million yen are omitted) 1. Consolidated Financial Results for FY 2014 Second quarter (From April 1, 2014 to ) (1) Operating results (Percentage figures indicate the change from the same quarter of the prior fiscal year) Net sales Operating income Ordinary income Net income % % % % FY 2014 second quarter 150,561 (0.7) 9,372 (14.1) 11,996 (6.0) 7,316 (14.9) FY 2013 second quarter 151, , , ,595 - Note: Comprehensive income FY2014 second quarter: 16,470 million yen ((18.8) %) FY2013 second quarter: 20,273 million yen ( %) Net income Per share Diluted net income Per share Yen Yen FY 2014 second quarter FY 2013 second quarter (2) Financial position Total assets Net assets Shareholders equity ratio Net assets per share % Yen FY 2014 second quarter 499, , , FY , , , Reference: Equity capital As of : 332,714 million yen As of March 31, 2014: 318,419 million yen

2 2. Basis for preparation of quarterly financial results (1) Changes in scope of consolidation and equity method of accounting: No (2) Application of particular accounting procedure for preparing quarterly financial statements: Yes Calculation of tax expenses: Tax expenses are calculated by using effective tax rate on quotation. (3) Changes in accounting policies; changes in accounting estimates; restatements of financial statements 1. Changes in accounting policies due to amendment of accounting standards: Yes 2. Changes in accounting policies other than above: No 3. Changes in accounting estimates: No 4. Restatements of financial statements: No (4) Issued and outstanding capital stock 1. Number of shares outstanding (including treasury stock): As of September : 150,860,557 shares As of March 31, 2014: 150,860,557 shares 2. Number of treasury stock outstanding: As of September : 12,774,183 shares As of March 31, 2014: 12,773,301 shares 3. Average number of shares: Second quarter FY2014: 138,086,739 shares Second quarter FY2013: 138,089,146 shares

3 Consolidated Balance Sheet As of As of March 31, 2014 Increase (Decrease) Assets Current assets Cash and deposits 86,994 77,170 9,823 Notes and accounts receivable - trade 58,711 59,152 (441) Short-term investments securities 15,195 15,191 3 Merchandise and finished goods 13,517 14,795 (1,278) Work in process 11,288 8,374 2,914 Raw materials and supplies 16,981 15,468 1,513 Deferred tax assets 2,449 2,578 (129) Other - current assets 9,760 10,025 (264) Allowance for doubtful accounts (395) (494) 98 Total current assets 214, ,262 12,239 Noncurrent assets Property, plant and equipment Buildings and structures 93,043 85,314 7,728 Machinery, equipment and vehicles 80,040 68,127 11,913 Land 19,225 19, Lease assets 650 2,189 (1,538) Construction in progress 33,141 28,464 4,676 Other - property, plant and equipment 5,094 4, Total property, plant and equipment 231, ,702 23,493 Intangible assets 7,646 8,474 (828) Investments and other assets Investment securities 43,689 39,924 3,765 Long-term loans receivable (1) Deferred tax assets 1,385 1, Other - investments and other assets 1,957 2,766 (809) Allowance for doubtful accounts (414) (393) (20) Total investments and other assets 46,651 43,674 2,977 Total noncurrent assets 285, ,850 25,643 Total assets 499, ,113 37,882 (Continued)

4 As of As of March 31, 2014 Increase (Decrease) Liabilities and net assets Liabilities Current liabilities Notes and accounts payable trade 34,086 35,452 (1,366) Short-term loans payable 32,525 18,161 14,364 Current portion of bonds payable - 25,000 (25,000) Accounts payable - other 22,673 14,993 7,680 Income taxes payable 3,430 1,138 2,291 Deferred tax liabilities (1) Provision for bonuses 3,693 3,830 (136) Provision for directors bonuses (153) Notes payable facilities 1,424 1,491 (67) Other - current liabilities 13,355 12,156 1,198 Total current liabilities 111, ,392 (1,189) Noncurrent liabilities Bonds payable 40,000 15,000 25,000 Long-term loans payable 3,301 3,412 (111) Lease obligations (56) Deferred tax liabilities for land revaluation (79) Net defined benefit liability Deferred tax liabilities 6,213 5, Other - noncurrent liabilities 1,549 1,994 (444) Total noncurrent liabilities 52,200 27,158 25,042 Total liabilities 163, ,550 23,852 Net assets Shareholders equity Capital stock 64,152 64,152 - Capital surplus 68,354 68,354 (0) Retained earnings 200, ,459 5,244 Treasury stock (37,112) (37,110) (1) Total shareholders equity 296, ,855 5,243 Accumulated other comprehensive income Valuation difference on available-for-sale securities 14,548 11,433 3,115 Revaluation reserve for land Foreign currency translation adjustment 21,917 16,059 5,858 Total accumulated other comprehensive income 36,615 27,564 9,051 Subscription rights to shares (353) Minority interests 3,878 3, Total net assets 336, ,562 14,030 Total liabilities and net assets 499, ,113 37,882 (Concluded)

5 Consolidated Statement of Income September 30, 2013 Increase (Decrease) Net sales 150, ,551 (989) Cost of sales 113, ,028 (2,989) Gross profit 37,523 35,523 1,999 Selling, general and administrative expenses 28,150 24,611 3,539 Operating income 9,372 10,912 (1,540) Non-operating income (expenses) 2,623 1, Interest income Dividends income Foreign exchange income (losses), net 2,636 2, Interest expenses (190) (174) (16) Rent expenses on facilities (5) (5) 0 Bond issuance cost (103) - (103) Depreciation of inactive noncurrent assets (359) (694) 335 Other, net 27 (180) 208 Ordinary income 11,996 12,764 (768) Extraordinary income (loss) (529) 64 (594) Gain on sales of property, plant and equipment (43) Gain (loss) on sales of investment securities, net (171) Gain on reversal of subscription rights to shares (177) Loss on disposal of property, plant and equipment (313) (232) (80) Impairment loss (386) (10) (376) Loss on valuation of investment securities (1) (2) (1) Loss on liquidation of an affiliate - (457) 457 Loss on disaster (144) - (144) Other, net (48) 10 (58) Income before income taxes and minority interests 11,466 12,829 (1,362) Income taxes (4,061) (4,141) 80 Income before minority interests 7,405 8,688 (1,282) Minority interests (89) (92) 3 Net income 7,316 8,595 (1,279)

6 Consolidated Statement of Comprehensive Income September 30, 2013 Increase (Decrease) Income before minority interests 7,405 8,688 (1,282) Other comprehensive income Valuation difference on available-for-sale securities 3,129 2, Deferred gains or losses on hedges - 12 (12) Revaluation reserve for land Foreign currency translation adjustments 5,858 8,661 (2,802) Other comprehensive income 9,065 11,585 (2,519) Comprehensive income 16,470 20,273 (3,802) (Breakdown) Comprehensive income attributable to owners 16,367 20,177 (3,810) Comprehensive income attributable to minority interests

7 Segment Information FY 2013 second quarter (From April 1, 2013 to September 30, 2013) (1) Sales and income/loss information of each Reportable Segment A summary of net sales and income by reportable segment for six months ended September 30, 2013 was as follows: Electronics Ceramics September 30, 2013 Reportable Segment Housing materials Construction Total Other (*) Total Sales to third parties 75,933 48,280 12,177 5, ,694 9, ,551 Inter-segment sales and transfers ,651 2,729 1,145 3,874 Net sales 75,933 48,354 12,180 7, ,423 11, ,426 Segment income 5,030 3, , ,547 * Other section refers to businesses that are not included in a reportable segment. (2) Reconciliation information Total of segment income in the reportable segments and operating income in the consolidated statement of income for six months ended September 30, 2013 were reconciled as follows: September 30, 2013 Total of segment income in the reportable segments 9,258 Income of Other section 288 Elimination of inter-segment transactions 37 Corporate expenses and income(*) 1,327 Operating income of consolidated statement of income 10,912 * Corporate expenses and income mainly include general and administrative expenses and income from the generation of electricity income, which are not included in the reportable segments.

8 FY 2014 second quarter (From April 1, 2014 to ) (1) Sales and income/loss information of each Reportable Segment A summary of net sales and income (loss) by reportable segment for six months ended is as follows: Electronics Ceramics Reportable Segment Housing materials Construction Total Other (*) Total Sales to third parties 74,928 49,633 10,653 5, ,299 10, ,561 Inter-segment sales and transfers ,463 2,543 1,059 3,602 Net sales 74,954 49,684 10,656 7, ,842 11, ,164 Segment income (loss) 3,230 4,025 (59) 465 7, ,996 * Other section refers to businesses that are not included in a reportable segment. (2) Reconciliation information Total of segment income in the reportable segments and operating income in the consolidated statement of income for six months ended are reconciled as follows: Total of segment income in the reportable segments 7,662 Income of Other section 333 Elimination of inter-segment transactions 54 Corporate expenses and income(*) 1,322 Operating income of consolidated statement of income 9,372 * Corporate expenses and income mainly include general and administrative expenses and income from the generation of electricity income, which are not included in the reportable segments.