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 229, ,924 Cash and cash equivalents 87,357 96,254 Notes receivable and accounts receivable, trade 57,841 58,077 Marketable securities 14,149 17,789 Merchandise and finished goods 7,458 6,324 Work in process 38,058 56,395 Raw materials and supplies 9,882 10,845 Deferred income taxes, short-term 7,409 6,584 Other 7,480 9,783 Allowance for doubtful accounts, short-term (122) (129) Fixed assets 113, ,345 Tangible fixed assets 30,602 32,441 Buildings and structures 17,089 17,692 Machinery, equipment and industrial vehicles 4,697 5,184 Tools, furniture and fixtures 1,461 1,524 Land 6,736 6,764 Leased assets Construction in progress Other Intangible fixed assets 3,897 5,003 Software 911 1,041 Goodwill 2,684 3,684 Other Investments and other assets 79,112 79,900 Marketable securities 76,668 78,046 Investment in LLC and partnership 1,538 1,726 Deferred income taxes, long-term 986 1,035 Other 1,398 1,665 Allowance for doubtful accounts, long-term (226) (227) Allowance for loss from investments (1,252) (2,344) Total assets 343, ,270

3 Consolidated Balance Sheets Liabilities 132, ,913 Current liabilities 105, ,564 Notes payable and accounts payable, trade 41,827 49,910 Loan payable, short-term 9,602 19,862 Accrued expenses 6,868 6,001 Income taxes payable 7,329 5,386 Advance received 25,859 47,749 Deposits received 1,871 3,595 Accrued bonuses 4,924 5,002 Allowance for warranty expenses 5,589 2,979 Other 1,968 2,075 Fixed liabilities 26,292 11,348 Loan payable, long-term 15,500 - Net defined benefit liabilities 5,706 5,890 Deferred income taxes 4,050 4,219 Other 1,035 1,238 Net assets 210, ,357 Stockholder's equity 197, ,806 Capital stock Capital surplus Retained earnings 196, ,463 Accumulated other comprehensive income 11,627 8,955 Valuation difference on marketable securities 14,416 12,336 Translation adjustment 1,950 1,618 Remeasurements of defined benefit plan (4,739) (4,999) Non-controlling interests 1,446 1,595 Total Liabilities and net assets 343, ,270

4 Consolidated Statement of Operations Years Ended March 31, 2017 and March 31, 2018 Net sales 261, ,082 Cost of sales 176, ,230 Gross profit 84,856 87,852 Selling, general and administrative expenses 50,130 53,446 Income (loss) from operations 34,726 34,405 Other income 4,638 3,132 Interest and dividend income 2,284 2,862 Revenue from investment in affiliated companies Foreign exchange gain 1,662 - Other Other expenses 4,250 5,122 Interest expenses Loss from investment in silent partnership 1,922 1,620 Loss from investment in affiliated companies Provision of allowance for loss from investments 1,169 1,091 Foreign exchange loss - 2,084 Other Ordinary income (loss) 35,114 32,415 Extraordinary income Gain on sale of fixed assets 41 - Settlement income Gain on redemption of marketable securities - 25 Other 4 43 Extraordinary loss Loss on disposal of fixed assets Loss on sale of investment in subsidiaries Loss on valuation of marketable securities 36 - Impairment loss Other Income (loss) before income taxes 35,721 31,871 Income taxes - current 13,104 12,772 Income taxes - deferred (451) 1,758 Net income (loss) 23,067 17,339 Net income attributable to non-controlling interests Net income attributable to shareholders of Murata Machinery, Ltd. 22,843 17,183

5 Balance Sheets Assets Current assets 173, ,839 Cash and cash equivalents 56,620 65,631 Notes receivable 7,008 6,883 Electronically recorded monetary claims 4,679 6,635 Accounts receivable, trade 37,258 34,414 Marketable securities 14,149 17,789 Finished goods 3,541 2,288 Work in process 28,172 40,439 Raw materials and supplies 2,192 2,893 Advances paid 1,563 1,486 Loan receivable, short-term Accounts receivable, non-trade 9,567 12,261 Deferred income taxes, short-term 5,167 4,157 Other2,630 2,113 Allowance for doubtful accounts, short-term (20) (31) Fixed assets 112, ,879 Tangible fixed assets 24,522 25,661 Buildings 12,146 12,413 Structures 664 1,008 Machinery and equipment 3,226 3,368 Cars and industrial vehicles 12 6 Tools, furniture and fixtures Land 7,284 7,284 Leased assets 5 4 Construction in progress Intangible fixed assets Investments 87,282 89,606 Marketable securities 68,731 69,948 Investment in affiliates, stock 11,794 13,731 Investment in LLC and partnership 1,433 1,621 Investment in affiliates 1,873 1,873 Loan receivable, long-term 1,140 1,037 Prepaid expenses, long-term Prepaid pension expenses 3,375 3,480 Claims against bankrupt and reorganized body 5 - Other Allowance for doubtful accounts, long-term (211) (212) Allowance for loss from investments (1,252) (2,344) Total assets 285, ,718

6 Balance Sheets Liabilities 117, ,643 Current liabilities 93, ,083 Notes payable 3,509 4,725 Electronically recorded obligations 2 19,508 Accounts payable, trade 41,141 28,226 Loan payable, short-term 7,540 2,540 Current portion of loan payable, long-term - 15,500 Accounts payable, non-trade Accrued expenses 4,270 3,617 Income taxes payable 6,020 4,108 Business office taxes payable Advance received 13,115 25,728 Accrued bonuses 3,135 3,149 Allowance for warranty expenses 5,221 2,514 Other 9,855 10,367 Fixed liabilities 23,460 6,560 Loan payable, long-term 15,500 - Allowance for employee retirement 1,295 1,267 Deferred income taxes 5,911 4,416 Other Net assets 168, ,074 Stockholder's equity 154, ,849 Capital stock Capital surplus Capital reserve Retained earnings 152, ,507 Legal reserve Other 152, ,282 Reserve for special depreciation 1,675 1,312 Reserve for reduction entry 1,394 1,380 Other 78,720 78,720 Retained earnings - carried forward 70,793 91,869 Valuation differences 14,303 12,225 Valuation difference on marketable securities 14,303 12,225 Total Liabilities and net assets 285, ,717

7 Statement of Operations Years Ended March 31, 2017 and March 31, 2018 Net sales 198, ,238 Cost of sales 142, ,565 Gross profit 55,984 61,673 Selling, general and administrative expenses 31,670 33,131 Income (loss) from operations 24,314 28,541 Other income 5,571 7,914 Interest and dividend income 3,787 7,729 Foreign exchange gain 1,452 - Other Other expenses 3,244 4,909 Interest expenses Loss from investment in silent partnership 1,922 1,620 Provision of allowance for loss from investments 1,169 1,091 Foreign exchange loss - 1,686 Other Ordinary income (loss) 26,641 31,546 Extraordinary income Gain on sale of fixed assets 1 - Settlement income Gain on redemption of marketable securities - 25 Other 1 3 Extraordinary loss Loss on disposal of fixed assets Loss on valuation of marketable securities 36 - Impairment loss Other 0 62 Income (loss) before income taxes 27,226 31,432 Income taxes - current 10,284 9,954 Income taxes - deferred (688) 433 Net income (loss) 17,630 21,045