Lasertec : Consolidated Financial Results for the Second Quarter Ended December 31, 2015

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Consolidated Financial Results for the Second Quarter Ended December 31, 2015 (Japanese GAAP)

February 1, 2016

Company name: Lasertec Corporation

Stock exchange listing: Tokyo Stock Exchange

Code: 6920

URL: http://www.lasertec.co.jp/

Representative: Osamu Okabayashi

Representative Director and President

Contact for inquiries: Shu Uchiyama

Managing Director and Chief Administrative Officer Phone: [phone]

Date of filing the securities report: February 10, 2016 Preparation of supplementary materials

for financial results: Yes

Financial results briefing: Yes (for analysts and institutional investors)

(Figures less than a million yen are rounded down.)

1. Consolidated financial results for the six months ended December 31, 2015

2. Consolidated operating results

   (The percentage figures indicate changes from the previous fiscal year.)

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   Six months ended December 31, 2015 December 31, 2014	Million yen 6,693 6,179	% 8.3 12.8	Million yen 1,304 1,751	% (25.5) 106.8	Million yen 1,305 1,775	% (26.5) 92.4	Million yen 934 1,182	% (21.0) 94.1

   (Note) Comprehensive income: Six months ended December 31, 2015: 791 million yen [(39.1%)]

   Six months ended December 31, 2014: 1,299 million yen [72.6%]

   
   

   Net income per share	Net income per share, fully diluted
   Six months ended	Yen	Yen
   December 31, 2015	41.44	41.41
   December 31, 2014	52.44	52.38

   
   

3. Consolidated financial position

Total assets	Net assets	Equity ratio	Net assets per share
December 31, 2015 June 30, 2015	Million yen 23,001 23,621	Million yen 19,765 20,011	% 85.8 84.6	Yen 875,77 886.66

(Reference) Equity: December 31, 2015: 19,744 million yen June 30, 2015: 19,989 million yen




4. Dividends

   Dividends per share
   End of 1Q	End of 2Q	End of 3Q	Year-end	Total
   Fiscal year ended June 30, 2015	Yen	Yen	Yen	Yen	Yen
   	--	0.00	--	46.00	46.00
   Fiscal year ending June 30, 2016	--	0.00
   Fiscal year ending June 30, 2016 (Forecast)	--	38.00	38.00

   (Note) Revision to forecast of dividends since the last announcement: None

5. Forecast of consolidated financial results for the year ending June 30, 2016

(The percentage figures indicate changes from the same period of the previous fiscal year.)

Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Net income per share
Annual	Million yen 15,800	% 4.0	Million yen 3,700	% (21.7)	Million yen 3,700	% (20.1)	Million yen 2,400	% (18.7)	Yen 106.45

(Note) Revision to forecast of financial results since the last announcement: None




* Notes




1. Significant changes of subsidiaries during the period (changes of specified subsidiaries accompanying changes in the scope of consolidation): None

   
   

   Number of subsidiaries added to consolidation: None (Company names: --), Number of subsidiaries excluded from consolidation: None (Company names: --)

   
   

2. Application of special accounting procedures for compiling quarterly financial statements: None

   
   

3. Changes in accounting policy, changes or restatement of accounting estimates

4. Changes in accounting policy due to revision of accounting standards: Yes

5. Changes in accounting policy other than (a): None

6. Changes in accounting estimates: None

7. Restatement due to revision: None

   (Note) For details, please see Statement concerning "Notes" on the summary, (3) Changes in accounting policy and changes or restatement of accounting estimates, in page 3 of the attached Supplementary Material.

   
   

8. Number of issued shares (common stock):

   
   

   December 31, 2015	23,571,600	June 30, 2015	23,571,600
   December 31, 2015	1,026.800	June 30, 2015	1,026,800
   December 31, 2015	22,544,800	December 31, 2014	22,542,800

9. Number of issued shares at the end of the period (including treasury stock)

10. Number of treasury stock at the end of the period

11. Average number of shares during the period ended

    
    

    (Shares)

    
    

    • Disclosure regarding the status of auditing of this report

      This summary of financial results and its related materials are not subject to auditing under the Financial Instruments and Exchange Act of Japan. As of the date of this report, auditing of the consolidated financial statements based on the Financial Instruments and Exchange Act has not been completed.

      
      

    • Cautionary statement for proper use of forecast of financial results and other special notes

    The forecast of financial results provided in this summary and its related materials is based on information available to the management at the time of announcement and on assumptions it has judged to be reasonable. Lasertec makes no guarantees about achieving the forecast provided herein. Actual results may differ materially from the forecast due to various factors.

    Contents of Supplementary Material

    
    

    1. Qualitative information concerning this quarterly report --------------------------------------------------------2

12. Qualitative information concerning consolidated results --------------------------------------------------2

13. Qualitative information concerning consolidated financial position-------------------------------------2

14. Qualitative information concerning forecast of consolidated financial results ----------------------3




2. Statement concerning "Notes" on the summary ------------------------------------------------------------------3

1. Significant changes of subsidiaries during the cumulative quarter -------------------------------------3

2. Application of special accounting procedures to the preparation of consolidated

   financial statements -------------------------------------------------------------------------------------------------3

3. Changes in accounting policy and changes or restatement of accounting estimates -------------3




3. Consolidated financial statements------------------------------------------------------------------------------------4 (1) Consolidated balance sheet --------------------------------------------------------------------------------------4

(2) Consolidated statement of income and consolidated statement of comprehensive income-----6 Consolidated statement of income (First six months of the fiscal year) -------------------------6

Consolidated statement of comprehensive income (First six months of the fiscal year) ---------------------------------------------------------------------------------------------------------------7




(3) Consolidated statement of cash flows -------------------------------------------------------------------------8 (4) Notes on consolidated financial statements ------------------------------------------------------------------9 (Note on going concern)--------------------------------------------------------------------------------------------9 (Note on significant changes in the amount of shareholders' equity)-----------------------------------9




4. Supplementary information------------------------------------------------------------------------------------------- 10

(1) Production by category------------------------------------------------------------------------------------------- 10

(2) Orders by category------------------------------------------------------------------------------------------------ 10

(3) Sales by category ------------------------------------------------------------------------------------------------- 10

1. Qualitative information concerning this quarterly report




1. Qualitative information concerning consolidated results

   During the six-month period ended December 31, 2015, the US economy continued having a robust growth while it became more evident that the European economy was on a recovery track. However, concerns were growing about the prospect of the global economy, especially about repercussions from the slowdown of growth in China and emerging economies, the plunging energy prices and the US interest rate hike.

   
   

   The Japanese economy continued seeing an improved employment situation, thanks mainly to corporate earnings growth, but it fell short of having a full-fledged growth due to the concerns about the global economy.

   
   

   In the semiconductor industry, which is our main business sector, the market condition in this period was unfavorable overall because foundries and DRAM manufacturers kept their capital expenditures lower in anticipation of weakening smartphone sales.

   
   

   A summary of other industries related to the remainder of our business is as follows: in the FPD industry, there were new capital investments mainly in China; and the lithium ion battery industry saw a slow but steady market growth.

   
   

   Under the circumstances, our consolidated net sales in the six-month period ended December 31, 2015, was 6,693 million yen, up 8.3% from the same period of the previous year.

   
   

   Looking at the consolidated net sales by product segment, semiconductor-related products accounted for 4,974 million yen (up 31.7% from the same period of the previous year), other products for 620 million yen (down 57.8%), and services for 1,098 million yen (up 18.1%).

   
   

   As for consolidated income for this period, we recorded an operating profit of 1,304 million yen (down 25.5% from the same period of the previous year), an ordinary profit of 1,305 million yen (down 26.5% from the same period of the previous year), and a 934 million yen profit attributable to owners of parent (down 21.0% from the same period of the previous year).

   
   

2. Qualitative information concerning consolidated financial position




① Financial position




Total assets at the end of the quarter amounted to 23,001 million yen, down 619 million yen from the end of the previous fiscal year. This is mainly due to a 760 million yen decrease in notes and accounts receivable-trade and a 145 million yen decrease in investment securities whereas raw materials and supplies increased by 329 million yen.




Liabilities at the end of the quarter amounted to 3,235 million yen, down 374 million yen from the end of the previous fiscal year. This is mainly due to a 531 million yen decrease in income taxes payable and a 469 million yen decrease in notes and accounts payable-trade whereas advances received increased by 715 million yen.




Net assets, which consist of shareholders' equity, accumulated other comprehensive income, and subscription right to shares, amounted to 19,765 million yen with capital-asset ratio of 85.8%.




② Cash flows




Cash and cash equivalents at the end of the quarter amounted to 6,672 million yen, up 134 million yen from the end of the previous fiscal year. Following is the status of cash flows and their contributing factors during the six-month period.




From operating activities, 1,275 million yen was generated (whereas 2,083 million yen was used in the same period of the previous year). This is mainly because the sum of cash receipt such as 1,305 million yen in income before income taxes and a 747 million yen decrease in notes and accounts receivable-trade exceeded the sum of cash payment such as 990 million yen spent for income taxes paid.




For investment activities, 55 million yen was used (up 79.2% from the same period of the previous year).