MURATA MACHINERY, LTD.

Transcription

1 (English Translation) AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, Consolidated balance sheets 2. Consolidated statement of operations 3. Non-consolidated balance sheets 4. Non-consolidated statement of operations MURATA MACHINERY, LTD. 3, Minami-Ochiai-Cho, Kisshoin, Minami-ku, Kyoto, Japan

2 Consolidated Balance Sheets Assets Current assets 221, ,516 Cash and cash equivalents 68,137 87,357 Notes receivable and accounts receivable, trade 63,315 57,841 Marketable securities 14,484 14,149 Merchandise and finished goods 7,194 7,458 Work in process 44,339 38,058 Raw materials and supplies 9,869 9,882 Deferred income taxes, short-term 7,144 7,409 Others 7,461 7,480 Allowance for doubtful accounts, short-term (133) (122) Fixed assets 108, ,612 Tangible fixed assets 29,633 30,602 Buildings and structures 15,861 17,089 Machinery, equipment and industrial vehicles 4,954 4,697 Tools, furniture and fixtures 1,722 1,461 Land 6,729 6,736 Leased assets Construction in progress Others Intangible fixed assets 5,269 3,897 Software Goodwill 3,861 2,684 Others Investments and other assets 73,509 79,112 Marketable securities 69,826 76,668 Investment in LLC and partnership 1,079 1,538 Deferred income taxes, long-term 1, Others 2,657 1,398 Allowance for doubtful accounts, long-term (1,296) (226) Allowance for loss from investments (83) (1,252) Total assets 330, ,128

3 Consolidated Balance Sheets Liabilities 144, ,134 Current liabilities 115, ,841 Notes payable and accounts payable, trade 43,876 41,827 Loan payable, short-term 9,739 9,602 Accrued expenses 6,294 6,868 Income taxes payable 5,946 7,329 Advance received 34,390 25,859 Deposits received 2,114 1,871 Accrued bonuses 4,214 4,924 Allowance for warranty expenses 6,968 5,589 Others 2,037 1,968 Fixed liabilities 29,405 26,292 Long-term loan payable 15,500 15,500 Deferred income taxes 3,585 4,050 Net defined benefit liabilities 8,624 5,706 Others 1,695 1,035 Net assets 185, ,994 Stockholder' s equity 172, ,920 Capital stock Capital surplus Retained earnings 171, ,578 Accumulated other comprehensive income 11,039 11,627 Valuation difference on marketable securities 13,705 14,416 Translation adjustment 2,118 1,950 Remeasurements of defined benefit plan (4,784) (4,739) Minority interests 1,201 1,446 Total Liabilities and net assets 330, ,128

4 Consolidated Statements of Operations Years Ended March 31, 2016 and March 31, 2017 Net sales 255, ,394 Cost of sales 182, ,537 Gross profit 72,617 84,856 Selling, general and administrative expenses 50,931 50,130 Income (loss) from operations 21,685 34,726 Other income 3,047 4,638 Interest and dividend income 2,373 2,284 Revenue from investment in affiliated companies 40 - Foreign exchange gain - 1,662 Other Other expenses 4,120 4,250 Interest expenses Loss from investment in silent partnership 3,219 1,922 Loss from investment in affiliated companies Provision of allowance for loss from investments 83 1,169 Foreign exchange loss Other Ordinary income (loss) 20,611 35,114 Extraordinary income Gain on sale of fixed assets 1 41 Settlement income Gain on redemption of marketable securities Other 5 4 Extraordinary loss Loss on disposal of fixed assets Loss on valuation of marketable securities Impairment loss Other Income (loss) before income taxes 20,410 35,721 Income taxes - current 8,921 13,104 Income taxes - deferred (882) (451) Net income (loss) 12,370 23,067 Net income attributable to noncontrolling interests Net income attributable to shareholders of Murata Machinery, Ltd. 12,224 22,843

5 Balance Sheets Assets Current assets 167, ,455 Cash and cash equivalents 41,602 56,620 Notes receivable 6,640 7,008 Electronically recorded monetary claims 2,811 4,679 Accounts receivable, trade 46,738 37,258 Marketable securities 14,484 14,149 Finished goods 3,017 3,541 Work in process 30,157 28,172 Raw materials and supplies 2,772 2,192 Advance 1,644 1,563 Loan receivable, short-term Accounts receivable, non-trade 10,788 9,567 Refundable income taxes 17 - Deferred income taxes, short-term 4,868 5,167 Other current assets 1,185 2,630 Allowance for doubtful accounts, short-term (62) (20) Fixed assets 101, ,378 Tangible fixed assets 24,646 24,522 Buildings 12,282 12,146 Structures Machinery and equipment 3,285 3,226 Cars and industrial vehicles Tools, furniture and fixtures 1, Land 7,288 7,284 Leased assets 1 5 Construction in progress Intangible fixed assets Investments 76,485 87,282 Marketable securities 61,114 68,731 Investment in affiliates, stock 11,773 11,794 Investment in LLC and partnership 974 1,433 Investment in affiliates 1,856 1,873 Long-term loan receivable 463 1,140 Long-term prepaid expenses Claims against bankrupt and reorganized body 4 5 Other investments Allowance for doubtful accounts, long-term (113) (211) Allowance for loss from investments (83) (1,252) Total assets 269, ,833 Note : The balance of Electronically recorded monetary claims as of March , previously classified as notes receivable, is separately described as Electronically recorded monetary claims.

6 Balance Sheets Liabilities 121, ,380 Current liabilities 98,625 93,920 Notes payable 3,815 3,509 Electronically recorded obligations - 2 Accounts payable, trade 41,102 41,141 Loan payable, short-term 7,540 7,540 Current portion of bond payable Accounts payable, non-trade Accrued expenses 4,284 4,270 Income taxes payable 4,879 6,020 Business office taxes payable Advance received 18,257 13,115 Accrued bonuses 2,482 3,135 Allowance for warranty expenses 6,553 5,221 Other curent liabilities 9,453 9,855 Fixed liabilities 22,757 23,460 Long-term loan payable 15,500 15,500 Allowance for employee retirement 935 1,295 Deferred income taxes 5,221 5,911 Others fixed liabilities 1, Net assets 148, ,453 Stockholder' s equity 134, ,149 Capital stock Capital surplus Capital surplus Retained earnings 133, ,807 Legal reserve Other retained earnings 132, ,582 Reserve for special depreciation 2,038 1,675 Reserve for reduction entry 1,409 1,394 Other reserve 78,720 78,720 Retained earnings - carried forward 50,694 70,793 Valuation differences 13,600 14,303 Valuation difference on marketable securities 13,600 14,303 Total Liabilities and net assets 269, ,833

7 Statements of Operations Years Ended March 31, 2016 and March 31, 2017 Net sales 185, ,436 Cost of sales 138, ,451 Gross profit 47,146 55,984 Selling, general and administrative expenses 31,711 31,670 Income (loss) from operations 15,435 24,314 Other income 3,959 5,571 Interest and dividend income 3,567 3,787 Foreign exchange gain - 1,452 Other Other expenses 4,055 3,244 Interest expenses Loss from investment in silent partnership 3,219 1,922 Provision of allowance for loss from investments 83 1,169 Foreign exchange loss Other Ordinary income (loss) 15,338 26,641 Extraordinary income Gain on sale of fixed assets 0 1 Settlement income Gain on sale of marketable securities 1 - Gain on redemption of marketable securities Other - 1 Extraordinary loss Loss on disposal of fixed assets Loss on valuation of marketable securities Loss on redemption of marketable securities 40 - Impairment loss Other 98 0 Income (loss) before income taxes 15,158 27,226 Income taxes - current 6,385 10,284 Income taxes - deferred (1,063) (688) Net income (loss) 9,836 17,630