Consolidated Financial Summary (For the First Quarter Ended June 30, 2015 (IFRS basis))

Transcription

1 Consolidated Financial Summary (For the First Quarter Ended June 30, 2015 (IFRS basis)) Listed company: Hitachi Chemical Co., Ltd. July 29, 2015 (Code number: 4217 Stock exchange: Tokyo) (URL Representative: Kazuyuki Tanaka Position of the person: President, Chief Executive Officer and Director Person in charge of the reference: Akihiko Takamatsu Position of the person: General Manager, Corporate Communication Center Tel: Date of the release of quarterly report (schedule): August 6, 2015 Date of the start of dividend payment: Creates supplemental explanatory materials for quarterly financial summaries: Yes (Amounts rounded to the nearest million yen) 1. Consolidated Financial Highlights for the First Quarter Ended June 30, 2015 (April 1, 2015 through June 30, 2015) (1) Consolidated Financial Results (% indicates the rate of +/ compared with the same term of the previous fiscal year) Revenue Operating income Income before income taxes Net income Net income attributable to owners of the parent Comprehensive income First quarter ended: Million yen % Million yen % Million yen % Million yen % Million yen % Million yen % June 30, , , , , , , June 30, ,541 8,961 9,374 6,005 6,053 4,686 Basic earnings per share Diluted earnings per share First quarter ended: Yen Yen June 30, 2015 June 30, Note: Basic earnings per share is calculated based on net income attributable to owners of the parent. Note:From the first quarter ended June 30, 2015, royalty income, which was previously included in other income on the consolidated statements of income, will be included in revenues. Figures for the first quarter ended June 30, 2014, have been restated to reflect this change. (2) Consolidated Financial Position As of June 30, 2015 As of March 31, 2015 Total assets Total equity Total equity attributable to owners of the parent Ratio of equity attributable to owners of the parent to total assets Million yen Million yen Million yen % 541, , , , , , Dividend Dividend per Share 1st Quarter 2nd Quarter 3rd Quarter YearEnd Total Yen Yen Yen Yen Yen March, 2015 March, 2016 March, 2016 (Forecast) Note: Revision of the latest dividend forecast: None The dividend forecasts for the fiscal year ending March 31, 2016 have not been determined. 3. Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2016 (April 1, 2015 through March 31, 2016) (% indicates the rate of +/ compared with the same term of the previous fiscal year) Net income Revenue Operating income Income before attributable to Net income income taxes owners of the parent Million yen % Million yen % Million yen % Million yen % Million yen % First half 280,000 24,000 24,500 17,500 17,300 Fiscal year 570, , , , , Note: Revision of the latest consolidated financial forecast: None Basic earnings per share Yen

2 * Notes (1) Changes in significant subsidiaries during the term (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes Exclusion: 1 company (Hitachi Chemical Research Center, Inc.) (2) Changes of Accounting Policies Applied, Changes in Accounting Estimates (a) Changes of accounting policies required by IFRS: None (b) Changes of accounting policies other than (a): None (c) Changes in accounting estimates: None (3) Number of Shares Issued (Common Stock): (a) Number of shares at the end of the term (Including treasury stock): (b) Number of treasury stock at the end of the term: (c) Average number of shares during the term: June 30, 2015: 208,364,913 shares March 31, 2015: 208,364,913 shares June 30, 2015: 129,890 shares March 31, 2015: 128,401 shares April June 2015: 208,235,805 shares April June 2014: 208,242,313 shares * Information regarding the implementation of quarterly review procedures These quarterly financial results are not subject to quarterly review procedures. Thus, at the time of disclosure of these financial results, the quarterly financial statement review procedures based on the Financial Instruments and Exchange Law, have not been completed. * Explanation on the appropriate use of financial forecasts and other important items The financial forecasts shown on this report are estimated based on information available as of the issuing date of this report, and therefore the actual results for the future terms may differ from these forecasted figures due to various unknown factors.

3 Condensed Quarterly Consolidated Financial Statements (1) Condensed Quarterly Consolidated Statement of Financial Position As of March 31, 2015 As of June 30, 2015 Assets Current assets Cash and cash equivalents 88,997 90,714 Trade receivables 123, ,954 Inventories 61,909 62,416 Other financial assets 23,659 17,996 Other current assets 2,324 4,008 Subtotal 300, ,088 Assets held for sale 2,197 Total current assets 300, ,285 Noncurrent assets Property, plant and equipment 179, ,877 Intangible assets 12,301 12,980 Net defined benefit assets 10,093 10,427 Deferred tax assets 10,684 9,294 Investments accounted for using the equity method 5,216 6,041 Other financial assets 17,591 18,433 Other noncurrent assets 6,616 6,969 Total noncurrent assets 241, ,021 Total assets 542, ,306 1

4 As of March 31, 2015 As of June 30, 2015 Liabilities Current liabilities Trade payables 51,354 49,692 Bonds and borrowings 33,658 33,659 Accrued expenses 24,251 20,102 Income tax payables 6,758 4,919 Provisions Other financial liabilities 19,702 17,237 Other current liabilities 1,471 1,415 Subtotal 137, ,524 Liabilities related to assets held for sale 1,261 Total current liabilities 137, ,785 Noncurrent liabilities Bonds and borrowings 26,619 26,845 Retirement and severance benefits 13,345 13,205 Provisions 1,143 1,161 Other financial liabilities 3,051 2,986 Other noncurrent liabilities 3,349 3,037 Total noncurrent liabilities 47,507 47,234 Total liabilities 185, ,019 Equity Common stock 15,454 15,454 Capital surplus 10,498 10,483 Treasury stock, at cost (213) (217) Retained earnings 287, ,484 Accumulated other comprehensive income 35,004 37,306 Total equity attributable to owners of the parent 348, ,510 Noncontrolling interests 9,093 9,777 Total equity 357, ,287 Total liabilities and equity 542, ,306 2

5 (2) Condensed Quarterly Consolidated Statement of Income and Condensed Quarterly Consolidated Statement of Comprehensive Income (Condensed Quarterly Consolidated statement of income) ( 2015) 2014 (April 1, 2014 June 30, 2014) 2015 (April 1, 2015 June 30, 2015) Revenues 123, ,580 Cost of sales (92,661) (101,968) Gross profit 30,880 35,612 Selling, general and administrative expenses (22,286) (24,138) Other income 1, Other expenses (820) (1,319) Operating income 8,961 10,965 Financial income Financial expenses (614) (543) Share of profits of investments accounted for using the equity method Income before income taxes 9,374 11,915 Income taxes (3,369) (3,397) Net income 6,005 8,518 Net income attributable to: Owners of the parent 6,053 8,340 Noncontrolling interests (48) 178 Earnings per share attributable to owners of the parent (yen) Basic Diluted 3

6 (Condensed Quarterly Consolidated statement of comprehensive income) ( 2015) 2014 (April 1, 2014 June 30, 2014) 2015 (April 1, 2015 June 30, 2015) Net income 6,005 8,518 Other comprehensive income (OCI) Items that cannot be reclassified into profit or loss Net gains and losses from financial assets measured at fair value through OCI Remeasurements of defined benefit obligations Total items that cannot be reclassified into profit or loss Items that can be reclassified into profit or loss Foreign currency translation adjustments (1,347) 1,756 Cash flow hedges 8 (4) Share of OCI of investments accounted for using the equity method (132) 83 Total items that can be reclassified into profit or loss (1,471) 1,835 Other comprehensive income (OCI) (1,319) 2,655 Comprehensive income 4,686 11,173 Comprehensive income attributable to: Owners of the parent 4,831 11,036 Noncontrolling interests (145) 137 4

7 (3) Condensed Quarterly Consolidated Statement of Cash Flows 2014 (April 1, 2014 June 30, 2014) 2015 (April 1, 2015 June 30, 2015) Cash flows from operating activities Net income 6,005 8,518 Depreciation and amortization 6,429 7,406 Income tax expense 3,369 3,397 Interest and dividend income (314) (402) Interest expenses paid Share of profits of investments accounted for using the equity method (683) (798) (Increase) decrease in trade receivables (1,936) 4,520 (Increase) decrease in accounts receivables other 1,256 5,223 (Increase) decrease in inventories (2,618) (184) Increase (decrease) in trade payables 1,321 (2,316) Increase (decrease) in retirement and severance benefits (215) (100) Other (5,556) (6,334) Subtotal 7,499 19,354 Interest and dividends received Interest paid (178) (389) Income taxes paid (3,563) (5,295) Net cash provided by operating activities 4,102 14,068 Cash flows from investing activities Expenses for property, plant and equipment acquired (5,652) (6,995) Income from sale of property, plant and equipment Proceeds from redemption and sale of investments in securities 1, Purchase of investments in subsidiaries (900) Expenses for investment securities acquired (30) (647) Proceeds from withdrawal of deposits paid in subsidiaries and affiliates 7,000 Other Net cash provided by (used in) investing activities 2,603 (7,905) Cash flows from financing activities Net increase (decrease) in shortterm debt 1,204 (389) Proceeds from longterm debt 132 Payments on longterm debt (456) (472) Purchase of shares of consolidated subsidiaries from noncontrolling interest holders (40) Dividends paid to stockholders (3,748) (3,748) Dividends paid to noncontrolling interests (63) Other (96) (149) Net cash used in financing activities (2,964) (4,861) Effect of exchange rate changes on cash and cash (467) 764 equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Decrease in cash and cash equivalents resulting from transfer to assets held for sale Cash and cash equivalents at end of year 3,274 2,066 87,652 88,997 (349) 90,926 90,714 5

8 (4) Items Regarding Condensed Quarterly Consolidated Financial Statements (Notes on premise of going concern) Not applicable (Segment Information) Information related to revenue and profit (loss) for each reportable segments 2014 (April 1, 2014 through June 30, 2014) Item Functional Materials Reportable segment Advanced Components and Systems Total Adjustment (Note) Total Revenue Revenue from outside customers 68,971 54, , ,541 Intersegment revenue 1, ,321 (2,321) Total 70,954 54, ,862 (2,321) 123,541 Segment profit (loss) 7,546 1,444 8,990 (29) 8,961 Financial income 344 Financial expenses (614) Share of profits of investments accounted for using the equity method 683 Income before income taxes 9,374 Note: Segment profit adjustments are the amounts eliminated for intersegment transactions (April 1, 2015 through June 30, 2015) Item Functional Materials Reportable segment Advanced Components and Systems Total Adjustment (Note) Total Revenue Revenue from outside customers 70,966 66, , ,580 Intersegment revenue 1,877 1,089 2,966 (2,966) Total 72,843 67, ,546 (2,966) 137,580 Segment profit (loss) 9,279 1,638 10, ,965 Financial income 695 Financial expenses (543) Share of profits of investments accounted for using the equity method 798 Income before income taxes 11,915 Note: Segment profit adjustments are the amounts eliminated for intersegment transactions. 6