Summary of Consolidated Financial Statements for Fiscal Year Ended March 31, 2013 (Japan GAAP) May 13, 2013 Listed Exchanges: TSE, OSE Name of Listed Company: Ishihara Sangyo Kaisha, Ltd. Code: 4028 URL http://www.iskweb.co.jp Representative: (Title) President (Name) Kazutaka Fujii Contact: (Title) Director (Name) Yoshinari Terakawa Tel +81664441850 Scheduled date of a general meeting of shareholders: June 27, 2013 Scheduled date of securities report submission: June 28, 2013 Scheduled date of dividend payment commencement: (Any amount less than one million yen is rounded down to the nearest million yen or nil.) 1. Consolidated Financial Results for Fiscal Year Ended March 31, 2013 (April 1, 2012 to March 31, 2013) (1) Consolidated Operating Results (Percentages represent changes from same period in previous year.) Net sales Operating income Ordinary income Net income millions of yen % millions of yen % millions of yen % millions of yen % FY ended March 31, 2013 100,441 1.9 2,792 71.4 3,541 55.8 925 68.6 FY ended March 31, 2012 102,378 3.4 9,760 8.0 8,012 30.0 2,951 39.2 (Reference) Comprehensive income FY ended March 31, 2013: 2,803million yen (31.9 %), FY ended March 31, 2012: 2,126 million yen (40.9%) Net income per Net income per share Ratio of ordinary Ratio of operating Return on equity share after full dilution income to total assets income to net sales Yen Yen % % % FY ended March 31, 2013 2.31 1.8 2.0 2.8 FY ended March 31, 2012 7.37 6.0 4.6 9.5 (Reference) Equity in earnings (losses) of affiliates: FY ended March 31, 2013: 302 million yen, FY ended March 31, 2012: 363 million yen (2) Consolidated Financial Position Total assets Net assets Capital adequacy ratio Net assets per share millions of yen Millions of yen % Yen FY ended March 31, 2013 177,316 53,064 29.9 132.65 FY ended March 31, 2012 175,432 50,281 28.7 125.63 (Reference) Equity capital: FY ended March 31, 2013: 53,064 million yen, FY ended March 31, 2012: 50,266 million yen (3) Consolidated Cash Flows Cash flow from operating Cash flow from investing Cash flow from financing Balance of cash and cash activities activities activities equivalents at period end millions of yen millions of yen millions of yen millions of yen FY ended March 31, 2013 7,198 5,734 7,758 16,997 FY ended March 31, 2012 7,435 4,239 2,927 21,732 2. Dividends (Record date) June 30 (Q1end) September 30 (Q2end) Dividends per share December 31 (Q3end) March 31 (Yearend) Annual Total dividends paid (annual) Dividend payout ratio (consolidated) Ratio of dividends to net assets (consolidated) Yen Yen Yen Yen Yen millions of yen Year ended March 31, 2012 0.00 0.00 0.00 Year ended March 31, 2013 0.00 0.00 0.00 Year ending March 31, 2014 (Forecast) 0.00 0.00 0.00 % % 3. Forecast for Consolidated Results for the Full Year Ending March 31, 2014 (April 1, 2013 March 31, 2014) (Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.) Net sales Operating income Ordinary income Net income Earnings per share millions % millions millions millions % % of yen of yen of yen of yen % Yen Interim (First 2Qs) 59,000 10.0 4,000 6,000 4,900 12.24 Full year 113,000 12.5 3,300 5,800 5,800 14.49 1
4. Other information (1) Significant changes in subsidiaries during the period (changes in specified subsidiaries resulting in the change in consolidation scope): No change (2) Changes in accounting principles, procedures, and the method of presentation 1) Changes due to revisions of accounting standards etc. : Not adopted 2) Changes other than those defined in 1) above : Not adopted 3) Changes in accounting estimates : Not adopted 4) Restatement : Not adopted (3) Issued shares (common shares) 1) Issued shares as of periodend (including repurchased treasury shares) FY ended March 31, 2013: 403,839,431 shares FY ended March 31, 2012: 403,839,431 shares 2) Number of shares of treasury stock as of periodend FY ended March 31, 2013: 3,808,379shares FY ended March 31, 2012: 3,753,154 shares 3) Average number of outstanding shares during period FY ended March 31, 2013: 400,062,544 shares FY ended March 31, 2012: 400,108,852 shares (Reference) Summary of NonConsolidated Operating Results 1. NonConsolidated Financial Results for Fiscal Year Ended March 31, 2013 (April 1, 2012 to March 31, 2013) (1) NonConsolidated Operating Results (Percentages represent changes from same period in previous year.) Net sales Operating income Ordinary income Net income millions of yen % millions of yen % millions of yen % millions of yen % FY ended March 31, 2013 80,434 1.1 3,873 54.3 3,703 44.4 1,999 7.2 FY ended March 31, 2012 79,756 7.2 8,485 21.5 6,659 32.7 2,155 42.6 Net income per share Net income per share after full dilution Yen Yen FY ended March 31, 2013 4.99 FY ended March 31, 2012 5.38 (2) NonConsolidated Financial Position Total assets Net assets Capital adequacy ratio Net assets per share millions of yen millions of yen % Yen FY ended March 31, 2013 164,620 50,862 30.9 127.14 FY ended March 31, 2012 168,302 48,724 29.0 121.78 (Reference) Equity capital: FY ended March 31, 2013: 50,862 million yen, FY ended March 31, 2011: 48,724 million yen 2. Forecast for NonConsolidated Financial Results for Fiscal Year Ending March 31, 2014 (April 1, 2013 to March 31, 2014) (Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.) Net sales Operating income Ordinary income Net income Earnings per share millions % millions millions millions % % of yen of yen of yen of yen % Yen Interim (First 2Qs) 37,500 0.3 3,300 4,600 3,400 8.49 Full year 88,000 9.4 200 94.8 2,500 2,100 5.24 *Status of a quarterly review This financial summary does not need to undergo a review under the Financial Instruments and Exchange Act. The consolidated financial statements under the Financial Instruments and Exchange Act have not been reviewed at the time of the announcement of this financial summary. * Notes on proper use of forecast and other matters The forecast of financial results presented in this document is the result of management s assessment based upon currently available assumptions, prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as the global economy, competition, and foreign currency fluctuations. 2
5. Consolidated Financial Statements (1) Consolidated Balance Sheet ASSETS Current Assets Previous consolidated FY (March 31, 2012 ) Current consolidated FY (March 31, 2013) Cash and deposits 22,195 17,312 Notes and accounts receivable trade 26,160 25,611 Merchandise and finished goods 26,115 31,653 Work in process 5,295 6,822 Raw materials and supplies 21,030 20,683 Deferred tax assets 2,229 1,877 Other 1,667 1,789 Allowance for doubtful accounts 187 178 Total current assets 104,506 105,570 Noncurrent Assets Property, plant and equipment Buildings and structures 49,880 51,419 Accumulated depreciation 31,415 33,255 Buildings and structures (net) 18,465 18,163 Machinery, equipment and vehicles 120,809 125,574 Accumulated depreciation 99,449 102,638 Machinery, equipment and vehicles (net) 21,359 22,935 Land 6,326 6,328 Leased assets 6,487 7,718 Accumulated depreciation 2,621 3,346 Leased assets (net) 3,865 4,372 Construction in progress 3,022 2,311 Other 4,495 4,658 Accumulated depreciation 3,631 3,723 Other (net) 863 935 Total property, plant and equipment 53,904 55,046 Intangible asset Goodwill Leased assets 62 46 Other 278 237 Total intangible assets 341 284 Investments and other assets Investment securities 4,454 4,885 Deferred tax assets 10,279 9,106 Other 2,085 2,510 Allowance for doubtful accounts 138 87 Allowance for investment loss Total investments and other assets 16,680 16,415 Total noncurrent assets 70,925 71,745 Total Assets 175,432 177,316 3
LIABILITIES Current Liabilities Previous consolidated FY (March 31, 2012) Current consolidated FY (March 31, 2013) Notes and accounts payable trade 19,166 11,939 Shortterm loans payable 22,031 24,542 Current portion of longterm loans payable 12,473 14,804 Current portion of bond retirements 200 200 Lease obligations 858 934 Income taxes payable 421 318 Accrued expenses 3,714 4,013 Provision for bonuses 571 478 Provision for sales returns 85 52 Provision for loss on construction contracts 98 7 Reserve for loss from Ferosilt removal 2,131 2,466 Provision for environment and safety improvement 237 60 Provision for structure improvement 85 Other 3,637 4,894 Total current liabilities 65,712 64,713 Noncurrent Liabilities Bonds payable 1,600 1,400 Longterm loans payable 36,179 39,325 Lease obligations 1,692 1,767 Provision for retirement benefits 7,952 8,634 Reserve for loss from Ferosilt removal 7,851 5,393 Provision for environment and safety improvement 554 543 Provision for repairs 48 Loss for asset retirement obligation 858 849 Other 2,749 1,576 Total noncurrent liabilities 59,438 59,538 Total Liabilities 125,151 124,251 NET ASSETS Shareholder s equity Capital stock 43,420 43,420 Capital surplus 10,626 10,626 Retained earnings 1,237 2,163 Treasury stock 677 681 Total shareholder s equity 54,607 55,529 Valuation and translation adjustments Valuation difference on availableforsale securities 60 245 Deferred gains or losses on hedges 76 64 Foreign currency translation adjustment 4,352 2,674 Pension liabilities adjustment for overseas subsidiaries 27 28 Total valuation and translation adjustments 4,341 2,464 Minority interests 14 Total net assets 50,281 53,064 Total Liabilities and Net Assets 175,432 177,316 4
(2) Consolidated Statements of Income Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Net sales 102,378 100,441 Cost of sales 71,808 76,225 Gross profit 30,570 24,216 Selling, general and administrative expenses 20,809 21,424 Operating income 9,760 2,792 Nonoperating income Interest income 61 54 Dividends income 81 285 Equity in earnings of affiliates 363 302 Foreign exchange gains 248 2,393 Other 297 574 Total nonoperating income 1,052 3,611 Nonoperating expenses Interest expenses 1,757 1,848 Retirement benefit expenses 391 356 Foreign exchange losses Other 652 656 Total nonoperating expenses 2,800 2,861 Ordinary income 8,012 3,541 Extraordinary income Gain from prior period adjustment Gain on sale of investment securities Gain on insurance adjustment 45 Compensation for removal Settlement received 37 Gain on negative goodwill Reversal provision for business structure improvement Other Total extraordinary income 83 Extraordinary loss Loss on disposal of noncurrent assets 622 578 Impairment loss 429 Provision of allowance for environment and safety improvement 224 Environmental expenses 16 Loss on adjustment for changes of accounting standard for asset retirement obligations Other 118 35 Total extraordinary loss 1,411 613 Income before income taxes 6,684 2,927 Income taxes 429 401 Income taxes deferred 3,303 1,600 Total income taxes 3,732 2,002 Income before minority interests 2,951 925 Minority interests in income () 0 0 Net income or net loss () 2,951 925 5
(Consolidated Comprehensive Income Statement) Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Net income before minority interest 2,951 925 Other comprehensive income Valuation difference on availableforsale securities 2 185 Deferred gains or losses on hedges 76 12 Foreign currency translation adjustment 682 1,705 Pension liabilities adjustment for overseas subsidiaries 4 0 Equity in profit/loss of affiliated companies 59 26 Total other comprehensive income 825 1,878 Comprehensive income 2,126 2,803 (Breakdown) Comprehensive income attributable to the parent company 2,127 2,802 Comprehensive income attributable to minority shareholders 0 1 6
(3) Statement of Changes in Net Assets Shareholders equity Capital stock Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Balance at the end of previous period 43,420 43,420 Balance at period end 43,420 43,420 Capital surplus Balance at the end of previous period 10,625 10,626 Disposal of treasury stock 0 0 Total changes of items during period 0 0 Balance at period end 10,626 10,626 Retained earnings Balance at the end of previous period 1,713 1,237 Decrease in accumulated deficit resulting from change in accounting policies of an affiliate accounted for by equity method Net income or net loss () 2,951 925 Total changes of items during period 2,951 925 Balance at period end 1,237 2,163 Treasury stock Balance at the end of previous period 672 677 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 Total changes of items during period 4 4 Balance at period end 677 681 Total shareholders equity Balance at the end of previous period 51,660 54,607 Decrease in accumulated deficit resulting from change in accounting policies of an affiliate accounted for by equity method Net income or net loss () 2,951 925 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 Total changes of items during period 2,947 922 Balance at period end 54,607 55,529 7
Valuation and translation adjustments Valuation difference on availableforsale securities Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Balance at the end of previous period 62 60 Net changes of items other than shareholders equity 2 185 Total changes of items during period 2 185 Balance at period end 60 245 Deferred gains or losses on hedges Balance at the end of previous period 76 Net changes of items other than shareholders equity 76 12 Total changes of items during period 76 12 Balance at period end 76 64 Foreign currency translation adjustment Balance at the end of previous period 3,611 4,352 Net changes of items other than shareholders equity 740 1,677 Total changes of items during period 740 1,677 Balance at period end 4,352 2,674 Pension obligations adjustment of foreign consolidated subsidiaries Balance at the end of previous period 32 27 Net changes of items other than shareholders equity 4 0 Total changes of items during period 4 0 Balance at period end 27 28 Total valuation and translation adjustments Balance at the end of previous period 3,516 4,341 Net changes of items other than shareholders equity 824 1,876 Total changes of items during period 824 1,876 Balance at period end 4,341 2,464 Minority interests Balance at the end of previous period 15 14 Net changes of items other than shareholders equity 0 14 Total changes of items during period 0 14 Balance at period end 14 8
Total net assets Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Balance at the end of previous period 48,158 50,281 Decrease in accumulated deficit resulting from change in accounting policies of an affiliate accounted for by equity method Net income or Net loss () 2,951 925 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 Net changes of items other than shareholders equity 824 1,861 Total changes of items during period 2,122 2,783 Balance at period end 50,281 53,064 9
(4) Statement of Consolidated Cash Flows Net cash used in operating activities Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Income before income taxes 6,684 2,927 Depreciation and amortization 5,691 5,785 Impairment loss 429 Increase (decrease) in allowance for doubtful accounts 63 65 Increase (decrease) in provisions for retirement benefits and directors retirement benefits Increase (decrease) in provision for retirement benefits 453 670 Increase (decrease) in reserve for loss from Ferosilt removal 2,492 2121 Increase (decrease) in provision for environment and safety improvement 160 189 Increase (decrease) in other provisions 22 254 Interest and dividends income 142 340 Interest expenses 1,757 1,848 Foreign exchange losses (gains) 1 6 Equity in (earnings) losses of affiliates 290 235 Loss on adjustment for changes of accounting standard for asset retirements abligations Loss (gain) on disposal of noncurrent assets 219 261 Compensation for removal Decrease (increase) in notes and accounts receivabletrade 1,093 1,285 Decrease (increase) in inventories 11,192 4,585 Decrease (increase) in other current assets 142 78 Increase (decrease) in notes and accounts payabletrade 6,447 9,530 Increase (decrease) in other current liabilities 940 452 Gain on early repayment of long term accounts payable 321 Other 669 13 Total 8,283 5217 Interest and dividends income received 142 330 Interest expenses paid 1,722 1,832 Proceeds from insurance income 690 24 Proceeds from compensation removal Income taxes paid 41 503 Net cash used in operating activities 7,435 7,198 10
Net cash used in investment activities Previous consolidated FY (April 1, 2011 to March 31, 2012) Current consolidated FY (April 1, 2012 to March 31, 2013) Payments into time deposits 612 80 Proceeds from withdrawal of time deposits 482 227 Purchase of shortterm and long term investment securities Proceeds from sale and redemption of shortterm and long term investment securities Purchase of property, plant and equipment 5,072 6,400 Proceeds from sales of property, plant and equipment 352 464 Payments of loans receivable 404 395 Collection of loans receivable 412 387 Purchase of investments in subsidiaries resulting change in scope of consolidation Income by reduction of capital for a fee 748 Others 145 62 Net cash used in investment activities 4,239 5,734 Net cash provided by financing activities Expenditure by the repayment of the corporate bond 200 200 Net increase (decrease) in shortterm loans payable 1,484 2,423 Proceeds from long term loans payable 12,781 17,971 Repayment of longterm loans payable 12,923 12,529 Repayments of lease obligations 938 950 Proceeds from assignment of private power generation facilities 157 Proceeds from deposits received 2,420 Repayment of deposite payable 1,373 Net decrease (increase) in treasury stock 4 3 Net cash provided by financing activities 2,927 7,758 Effect of exchange rate change on cash and cash equivalents 285 438 Net increase (increase) in cash and cash equivalents 17 4,735 Cash and cash equivalents at periodbeginning 21,750 21,732 Balance of cash and cash equivalents at period end 21,732 16,997 11
(Segment Information) 1. Business Segment Information Previous consolidated fiscal year (April 1, 2011 to March 31, 2012) Inorganic Chemicals Organic Chemicals Construction Other Businesses Total Elimination/ Consolidated Corporate Net sales and Sales to outside customers 58,005 40,390 2,949 1,033 102,378 102,378 Internal sales or transfers among 4,461 1,341 5,803 5,803 segments Total 58,005 40,390 7,410 2,375 108,182 5,803 102,378 Segment profit 7,898 3,912 359 151 11,602 1,842 9,760 Segment assets 84,853 49,750 3,881 1,003 139,489 35,943 175,432 Other elements Depreciation/amortization 4,170 1,224 94 5 5,494 103 5,597 expenses Increase in tangible and intangible Fixed Assets 23 405 429 429 3,530 817 9 8 4,365 139 4,504 (Note) 1. Adjustments include the following items: (1) Adjustments in segment profit ( 1,842 million) includes elimination of transactions between segments ( 238 million) and corporate expenses not allocated to reporting segments ( 2,081 million). Corporate expenses mainly comprise general expenses not allocable to reporting segments. (2) Adjustments in segment assets ( 35,943 million) includes offsetting of receivables and payables between segments ( 1,118 million) and corporate assets not allocated to reporting units ( 37,061 million). Corporate assets mainly comprise surplus funds (cash and securities), longterm investments (investment securities) and assets of administrative departments, all held by the parent company and not allocable to reporting segments. 2. Segment profits are adjusted with the operating profit reported on the consolidated profit and loss statement. Current consolidated fiscal year (April 1, 2012 to March 31, 2013) Inorganic Chemicals Organic Chemicals Construction Other Businesses Total Amount reported on consolidated Adjustments financial (Note 1) statements (Note 2) Net sales and Sales to outside customers 52,823 43,281 3,331 1,004 100,441 100,441 Internal sales or transfers among segments 1,318 1,026 2,344 2,344 Total 52,823 43,281 4,649 2,030 102,785 2,344 100,441 Segment profit 940 5,808 356 139 4,651 1,859 2,792 Segment assets 90,987 51,146 3,797 1,034 146,965 30,350 177,316 Other elements Depreciation/amortization 4,306 1,168 83 5 5,563 136 5,699 expenses Increase in tangible and intangible Fixed Assets 5,489 641 10 3 6,144 51 6,195 (Notes) 1. Adjustments include the following items: (1) Adjustments in segment profit ( 1,859 million) includes elimination of transactions between segments ( 239 million) and corporate expenses not allocated to reporting segments ( 2,098 million). Corporate expenses mainly comprise general expenses not allocable to reporting segments. (2) Adjustments in segment assets ( 30,350 million) includes offsetting of receivables and payables between segments ( 999 million) and corporate assets not allocated to reporting units ( 31,349 million). Corporate assets mainly comprise surplus funds (cash and securities), longterm investments (investment securities) and assets of administrative departments, all held by the parent company and not allocable to reporting segments. 2. Segment profits are adjusted with the operating profit reported on the consolidated profit and loss statement. Related information 12
Previous consolidated fiscal year (April 1, 2011 to March 31, 2012) 1. Information by product and service Disclosure of this information is omitted since its classification is identical with the classification of reporting segments. 2. Geographical information (1) Net sales by region (Notes) Japan Asia Americas Europe Other Total 48,424 24,638 9,653 19,393 268 102,378 1. Net sales by geographic segment are based on nations or regions where customers reside. 2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are as follows, excluding Japan: (1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, and Singapore (2) Americas: United States, Canada, Brazil, Argentina, and Mexico (3) Europe: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and Eastern Europe, plus the Middle East (4) Other: Australia, New Zealand, and Africa (2) Tangible fixed assets Japan Asia Americas Europe Total 48,328 4,906 626 42 53,904 (Notes) 1. Tangible fixed assets by geographic segment are based on nations or regions where customers reside. 2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are as follows, excluding Japan: (1) Asia: Singapore and Taiwan (2) Americas: United States (3) Europe: Belgium, France, and Spain Current consolidated fiscal year (April 1, 2012 to March 31, 2013) 1. Information by product and service Disclosure of this information is omitted since its classification is identical with the classification of reporting segments. 2. Geographical information (1) Net sales by region (Notes) Japan Asia Americas Europe Other Total 48,053 21,094 12,670 18,362 260 100,441 1. Net sales by geographic segment are based on nations or regions where customers reside. 2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are as follows, excluding Japan: (1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, and Singapore (2) Americas: United States, Canada, Brazil, Argentina, and Mexico (3) Europe: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and Eastern Europe, plus the Middle East (4) Other: Australia, New Zealand, and Africa (2) Tangible fixed assets 13
Japan Asia Americas Europe Total 48,642 5,687 667 48 55,046 (Notes) 1. Tangible fixed assets by geographic segment are based on nations or regions where customers reside. 2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses. Countries and regions included in each geographic segment are as follows, excluding Japan: (1) Asia: Singapore and Taiwan (2) Americas: United States (3) Europe: Belgium, France, and Spain (Per Share Information) 1. Previous consolidated fiscal year (April 1, 2011 to March 31, 2012) Current consolidated fiscal year (April 1, 2012 to March 31, 2013) Net assets per share 125.63 yen Net assets per share 132.65 yen Earnings per share 7.37 yen Net loss per share 2. 31yen Information on diluted earnings per share is not given since there are no potential ordinary shares. (Note) Basis for calculation Information on diluted earnings per share is not given since there are no potential ordinary shares. 2. Earnings per share or net loss per share Previous consolidated fiscal year (April 1, 2011 to March 31, 2012) Current consolidated fiscal year (April 1, 2012 to March 31, 2013) Net income or net loss (million yen) 2,951 925 Amount not attributable to common stock (million yen) Net income or net loss attributable to common stock (million yen) 2,951 925 Average number of shares of common stock during period (1,000 shares) 400,108 400,062 3. Net assets per share Total net assets on consolidated balance sheet (million yen) Amount deducted from total net assets on consolidated balance sheet : (million yen) Minority interests (million yen) Net assets attributable to common stock at the end of consolidated fiscal year (million yen) Number of shares of common stock used as basis for calculation of net assets per share (1,000 shares) At end of previous consolidated FY (March 31, 2012) At end of current consolidated FY (March 31, 2013) 50,281 53,064 14 (14) ( ) 50,266 53,064 400,086 400,031 6. NonConsolidated Financial Statements, etc. (1) Balance Sheet 14
ASSETS Current Assets Previous fiscal year (March 31, 2012) Current fiscal year (March 31, 2013) Cash and deposits 16,237 12,306 Notes receivable trade 874 781 Accounts receivable trade 33,377 35,827 Merchandise and finished goods 17,299 19,443 Work in process 4,423 5,704 Raw materials and supplies 11,364 10,760 Advanced payment trade 81 95 Prepaid expenses 237 254 Deferred tax assets 1,975 1,774 Shortterm loans receivable 6,459 6,010 Other 1,325 1,101 Allowance for doubtful accounts 417 434 Total current assets 93,238 93,625 Noncurrent Assets Property, plant and equipment Buildings 30,480 30,720 Depreciation and amortization 17,800 18,416 Buildings (net) 12,679 12,304 structures 9,310 9,670 Depreciation and amortization 6,389 6,588 structures (net) 2,921 3,081 Machinery and equipment 94,639 94,143 Depreciation and amortization 77,654 77,912 Machinery and equipment (net) 16,985 16,231 Vehicles 142 144 Depreciation and amortization 126 124 Vehicles (net) 16 19 Tools, furniture and fixtures 3,517 3,532 Depreciation and amortization 2,909 2,916 Tools, furniture and fixtures(net) 607 616 Land 5,499 5,499 Leased assets 3,091 3,309 Depreciation and amortization 1,341 1,624 Leased assets (net) 1,750 1,684 Construction in progress 2,809 2,204 Total property, plant and equipment 43,268 41,641 Intangible assets Software 233 205 Leased assets 62 46 Other 17 11 Total intangible assets 312 263 15
Investments and other assets Previous fiscal year (March 31, 2012) Current fiscal year (March 31, 2013) Investment securities 1,809 1,925 Stocks of subsidiaries and affiliates 18,891 16,677 Longterm loans receivable from employees 81 90 Longterm prepaid expenses 1,550 2,109 Deferred tax assets 9,012 8,156 Other 225 212 Allowance for doubtful accounts 89 81 Total investments and other assets 31,481 29,089 Total noncurrent assets 75,063 70,994 Total Assets 168,302 164,620 LIABILITIES Current Liabilities Notes payable trade 1,291 897 Accounts payable trade 15,119 9,009 Shortterm loans payable 20,530 21,930 Current portion of longterm loans payable 11,816 13,858 Current portion of bond retirements 200 200 Lease obligations 609 622 Accounts payable other 4,011 1,740 Accrued expenses 2,711 2,963 Income taxes payable 101 97 Deposits received 2,271 2,464 Provision for bonuses 435 372 Reserve for loss from Ferosilt removal 2,131 2,466 Provision for environment and safety improvement 237 60 Other 1,102 1,100 Total current liabilities 62,569 57,783 Noncurrent Liabilities Corporate bond 1,600 1,400 Longterm loans payable 32,164 34,010 Lease obligations 1,343 1,215 Longterm deposits received 4,774 4,358 Provision for retirement benefits 7,046 7,682 Reserve for loss from Ferosilt removal 7,851 5,393 Provision for environment and safety improvement 546 535 Asset retirement obligations 857 847 Other 824 530 Total noncurrent liabilities 57,008 55,974 Total Liabilities 119,577 113,757 16
NET ASSETS Shareholder s equity Previous fiscal year (March 31, 2012) Current fiscal year (March 31, 2013) Capital stock 43,420 43,420 Capital surplus Legal capital surplus 9,155 9,155 Other capital surplus 640 640 Total capital surplus 9,795 9,795 Retained earnings Legal retained earnings 269 269 Other retained earnings Retained earnings brought forward 4,650 2,651 Total retained earnings 4,381 2381 Treasury stock 180 184 Total shareholder s equity 48,654 50,650 Valuation and translation adjustments Valuation difference on availableforsale securities 69 224 Deferred gains or losses on hedges 11 Total valuation and translation adjustments 69 212 Total net assets 48,724 50,862 Total Liabilities and Net Assets 168,302 164,620 17
(2) Statements of Income Previous fiscal year Current fiscal year (April 1, 2011 to March 31, 2012) (April 1, 2012 to March 31, 2013) Net sales 79,576 80,434 Cost of sales 55,152 59,983 Gross profit 24,424 20,450 Selling, general and administrative expenses 15,939 16,576 Operating income 8,485 3,873 Nonoperating income Interest income 120 127 Dividends income 79 254 Rent income Foreign exchange gains 279 1,953 Other 140 155 Total nonoperating income 620 2,491 Nonoperating expenses Interest expenses 1,642 1,731 Retirement benefit expenses 391 356 Foreign exchange losses Other 412 574 Total nonoperating expenses 2,446 2,662 Ordinary income 6,659 3,703 Extraordinary income Gain from prior period adjustment Gain on sales of noncurrent assets Compensation for removal Other 4,749 Total extraordinary income 4,749 Extraordinary loss Loss on disposal of noncurrent assets 554 544 Impairment loss 405 Company concerned stocks appraisal loss 4,703 Provision of allowance for environment and safety improvement 224 Environmental expenses 16 Loss on adjustment for changes of accounting standard for asset retirement obligations Other 116 15 Total extraordinary loss 1,317 5,263 Income before income taxes 5,341 3,189 Income taxes 21 30 Income taxes deferred 3,165 1,159 Total income taxes 3,186 1,189 Net income 2,155 1,999 18
(3) Statement of Changes in Net Assets Shareholders equity Capital stock Previous fiscal year (April 1, 2011 to March 31, 2012) Current fiscal year (April 1, 2012 to March 31, 2013) Balance at the end of previous period 43,420 43,420 Balance at period end 43,420 43,420 Capital surplus Legal capital surplus Balance at the end of previous period 9,155 9,155 Balance at the end of previous period 9,155 9,155 Other capital surplus Balance at the end of previous period 639 640 Disposal of treasury stock 0 0 Total changes of items during period 0 0 Balance at period end 640 640 Total capital surplus Balance at the end of previous period 9,795 9,795 Disposal of treasury stock 0 0 Total changes of items during period 0 0 Balance at period end 9,795 9,795 Retained earnings Legal retained earnings Balance at the end of previous period 269 269 Balance at period end 269 269 Other retained earnings Reserve for special depreciation Balance at the end of previous period 6,806 4,650 Net income 2,155 1,999 Total changes of items during period 2,155 1,999 Balance at period end 4,650 2,651 Retained earnings brought forward Balance at the end of previous period 6,536 4,381 Net income 2,155 1,999 Total changes of items during period 2,155 1,999 Balance at period end 4,381 2,381 19
Treasury stock Previous fiscal year (April 1, 2011 to March 31, 2012) Current fiscal year (April 1, 2012 to March 31, 2013) Balance at the end of previous period 176 180 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 Total changes of items during period 4 4 Balance at period end 180 184 Total shareholder s equity Balance at the end of previous period 46,503 48,654 Net income 2,155 1,999 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 Total changes of items during period 2,151 1,995 Balance at period end 48,654 50,650 Valuation and translation adjustments Valuation difference on availableforsale securities Balance at the end of previous period 66 69 (net) other than shareholders equity 3 155 Total changes of items during period 3 155 Balance at period end 69 224 Deferred gains or losses on hedges Balance at the beginning of current period Changes of items during the period Net changes of items other than shareholders' equity 11 Total changes of items during the period 11 Balance at the end of current period 11 Total valuation and translation adjustments Balance at the end of previous period 66 69 (net) other than shareholders equity 3 143 Total changes of items during period 3 143 Balance at period end 69 212 Total net assets Balance at the end of previous period 46,569 48,724 Net income 2,155 1,999 Purchase of treasury stock 4 4 Disposal of treasury stock 0 0 (net) other than shareholders equity 3 143 Total changes of items during period 2,154 2,138 Balance at period end 48,724 50,862 20