HITACHI KOKUSAI ELECTRIC INC
July 29, 2015
Registered Company Name: Hitachi Kokusai Electric Inc. Stock Listings: Tokyo
Code No: 6756
URL: http://www.hitachi-kokusai.co.jp/global/
Representative: Manabu Shinomoto, President, CEO and Director
Contact: Akira Horiuchi, General Manager of Strategic Planning & Communication Center Telephone: +81 (0)3-6734-9401
Scheduled date of filing of quarterly report: August 6, 2015
Planned Start Date for Dividend Payments: －
Preparation of supplementary material for financial results: Yes
Holding of financial results meeting: Yes (for analysts and institutional investors)
1. Consolidated Financial Results (For the three months ended June 30, 2015)
(All figures are rounded off to the nearest million yen)
(1) Consolidated Results of Operations (Percentages indicate percentage increase or decrease year-on-year)
Revenues Operating Income Income before Net Income income taxes | Net income attributable to | Comprehensive | ||||
Revenues Operating Income Income before Net Income income taxes | owners of the parent | income | ||||
Million Yen % | Million Yen % | Million Yen % | Million Yen % | Million Yen % | Million Yen % | |
1Q of FY 2015 | 41,438 16.0 | 3,877 56.3 | 4,235 66.3 | 2,733 40.6 | 2,764 47.0 | 3,307 41.8 |
1Q of FY 2014 35,710 | － 2,480 | － 2,547 | － 1,944 | － | 1,880 － | 2,332 － |
Basic earnings per share
Diluted earnings per share
Yen Yen
1Q of FY2015 26.91 －
1Q of FY2014 18.30 －
(Note) Share of profits of investments accounted for using the equity method
1Q of FY2015 0 Million Yen 1Q of FY2014 11 Million Yen
(2) Consolidated Financial Position
Total Assets Total Equity Equity attributable to owners of the parent
Ratio of equity attributable to owners of the parent to total assets
Equity attributable to owners of the parent per share
Million Yen | Million Yen | Million Yen | % | Yen | |
1Q of FY2015 | 174,133 | 95,255 | 95,109 | 54.6 | 925.91 |
FY2014 | 189,283 | 95,022 | 94,885 | 50.1 | 923.64 |
2. Dividends
Dividend per Share
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total
FY2014
FY2015
FY2015 (Forecast) 10.00 － 26.00 36.00 (Note) Revision of the latest dividend forecast: No
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3. Consolidated Financial Forecast for FY2015 (From April 1, 2015 to March 31, 2016)
(Percentages indicate percentage increase or decrease year-on-year)
Revenues Operating Income Income before income taxes
Net Income
Net income attributable to owners of the parent
Basic earnings per share
Million Yen % | Million Yen % | Million Yen % | Million Yen % | Million Yen % | Yen | |
1Q-2Q of FY2015 | 89,000 20.3 | 7,800 49.4 | 8,000 49.8 | 5,800 37.3 | 5,800 38.7 | 56.46 |
FY2015 | 184,000 (0.6) | 19,500 (1.7) | 19,500 (1.5) | 15,500 (11.6) | 15,500 (11.3) | 150.90 |
(Note) Revision of the latest dividend forecast: Yes
Notes
(1) Changes to significant subsidiaries during the term (changes in specified subsidiaries due to changes in scope) : No
(2) Changes in accounting policies and accounting estimates
[1] Changes in accounting policies requested by IFRS : No
[2] Changes other than [1] above : No
[3] Changes in accounting estimates : No
(3) Number of shares issued (common stock) [1] Number of shares at end of period
(Including treasury stock)
[2] Number of treasury stock at end of period
[3] Average number of shares during the
period (Quarterly Cumulative Total)
1Q of FY2015 105,221,259 shares FY2014 105,221,259 shares
1Q of FY2015 2,501,795 shares FY2014 2,492,047 shares
1Q of FY2015 102,724,607 shares 1Q of FY2014 102,751,859 shares
(Notes)
This quarterly financial report is exempt from the review procedure based upon the Financial Instruments and Exchange Act. It is under the review procedure process at the time of disclosure of this report.
Explanation on the appropriate use of financial forecasts and other important items
The forecasts figures are based on information currently available to the Company and certain assumptions deemed to be reasonable. This material does not represent promises or guarantees regarding the forecasts and due to various factors, actual results may vary significantly from these forecasts.
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Consolidated Statements of Financial Position (Unaudited) June 30, 2015 and March 31, 2015
Assets
Current assets
Millions of Yen
FY2014 1Q of FY2015
Cash and cash equivalents 46,870 53,782
Trade receivables and other receivables 59,226 36,478
Other current financial assets 2,153 25
Inventories 39,849 42,366
Other current assets 3,529 3,438
Total current assets 151,627 136,089
Non-current assets
Property, plant and equipment 21,743 21,788
Intangible assets 1,761 2,276
Investments accounted for using the equity method 207 －
Other financial assets 9,895 10,025
Deferred tax assets 2,860 2,726
Other non-current assets 1,190 1,229
Total non-current assets 37,656 38,044
Total assets 189,283 174,133
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Liabilities
Current liabilities
Millions of Yen
FY2014 1Q of FY2015
Short-term debt 3,031 648
Trade and other payables 46,089 37,488
Accrued expenses 13,030 9,460
Other financial liabilities 314 1,946
Income tax payable 1,187 1,512
Advances received 10,196 7,448
Provisions 1,829 1,908
Other current liabilities 45 44
Total current liabilities 75,721 60,454
Non-current liabilities
Long-term debt 92 85
Retirement and severance benefits 17,998 17,918
Provisions 126 126
Other non-current liabilities 324 295
Total non-current liabilities 18,540 18,424
Total liabilities 94,261 78,878
Equity
Equity attributable to owners of the parent
Common stock 10,058 10,058
Capital surplus 17,661 17,646
Retained earnings 59,609 59,291
Other components of owner's equity 10,257 10,830
Treasury stock, at cost (2,700) (2,716) Total equity attributable to owners of the parent 94,885 95,109
Non-controlling interests 137 146
Total equity 95,022 95,255
Total liabilities and equity 189,283 174,133
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Consolidated Quarterly Statements of Profit or Loss (Unaudited) Years ended June 30, 2015 and 2014
Millions of Yen
1Q of FY2014 1Q of FY2015
Revenues 35,710 41,438
Cost of sales (25,284) (28,664) Gross profit 10,426 12,774
Selling, general and administrative expenses (7,980) (8,995) Other income 83 164
Other expenses (49) (66) Operating income 2,480 3,877
Financial income 123 365
Financial expenses (67) (7) Share of profits of investments accounted for using the
equity method 11 0
Income before income taxes 2,547 4,235
Income taxes (603) (1,502) Net income 1,944 2,733
Net income attributable to:
Owners of the parent 1,880 2,764
Non-controlling interests 64 (31)
Earnings per share attributable to Hitachi, Ltd. stockholders
Yen
Basic 18.3 26.91
Diluted － －
Consolidated Statements of Comprehensive Income
Years ended June 30, 2015 and 2014
Millions of Yen
1Q of FY2014 1Q of FY2015
Net income 1,944 2,733
Other comprehensive income (OCI)
Items not to be reclassified into net income
Net changes in financial assets measured at fair value
through OCI 121 193
Total items not to be reclassified into net income 121 193
Items that can be reclassified into net income
Foreign currency translation adjustments 268 381
Share of OCI of investments accounted for using the
equity method (1) 0
Total items that can be reclassified into net income 267 381
Other comprehensive income (OCI) 388 574
Comprehensive income 2,332 3,307
Comprehensive income attributable to
Owners of the parent 2,116 3,334
Non-controlling interest 216 (27)
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July 29, 2015
Hitachi Kokusai Electric Inc.
Supplementary information for the first quarter ended June 30, 2015 〔IFRS〕 (Consolidated basis)1. Summary (Millions of yen)
Fiscal 2014 | Fiscal 2015 | |||||||||||||||||
1st half | 2nd half (C) | Total (D) | 1st half | 2nd half | Total | |||||||||||||
1Q (A) | (B) | 2nd half (C) | Total (D) | 1Q (E) | (E)/(A) % | Previous Forecast (F) | Revised Forecast (G) | (G)/(F) % | (G)/(B) % | Previous Forecast (H) | Revised Forecast (I) | (I)/(H) % | (I)/(C) % | Previous Forecast (J) | Revised Forecast (K) | (K)/(J) % | (K)/(D) % | |
Orders received | 33,534 | 79,071 | 111,335 | 190,406 | 49,424 | 147 | 81,000 | 88,500 | 109 | 112 | 103,000 | 95,500 | 93 | 86 | 184,000 | 184,000 | 100 | 97 |
Revenues | 35,710 | 73,963 | 111,218 | 185,181 | 41,438 | 116 | 85,000 | 89,000 | 105 | 120 | 99,000 | 95,000 | 96 | 85 | 184,000 | 184,000 | 100 | 99 |
Operating income | 2,480 | 5,220 | 14,609 | 19,829 | 3,877 | 156 | 5,800 | 7,800 | 134 | 149 | 13,700 | 11,700 | 85 | 80 | 19,500 | 19,500 | 100 | 98 |
Income before income taxes | 2,547 | 5,339 | 14,466 | 19,805 | 4,235 | 166 | 5,800 | 8,000 | 138 | 150 | 13,700 | 11,500 | 84 | 79 | 19,500 | 19,500 | 100 | 98 |
Net income attributable to Hitachi Kokusai Electric Inc. | 1,880 | 4,182 | 13,289 | 17,471 | 2,764 | 147 | 4,200 | 5,800 | 138 | 139 | 11,300 | 9,700 | 86 | 73 | 15,500 | 15,500 | 100 | 89 |
2. Industry segment (Millions of yen)
[
(2,044)
[
(22)
*1. Amounts in Japanese GAAP (Generally Accepted Accounting Principles) for the 1st quarter of FY2014 are shown in [ ].
*2. Previous Forecast: Announced on April 27, 2015
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