February 7, 2017
Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2016 (unaudited)Company name: Mitsubishi Paper Mills Limited Stock exchange listing: Tokyo Stock Exchange Code number: 3864
URL: http://www.mpm.co.jp/
Representative: Kunio Suzuki, President and Chief Executive Officer Contact: Hironori Oikawa, General Manager, Finance & Accounting Dept.
Phone: +81-3-5600-1407
(Amounts of less than one million yen are rounded down.)
- Consolidated Financial Results for the Nine Months Ended December 31, 2016 (April 1, 2016 to December 31, 2016)
Consolidated Operating Results (% indicates changes from the previous corresponding period.)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Nine months ended
December 31, 2016
December 31, 2015
Million yen %
150,822 (6.7)
161,722 1.7
Million yen %
3,200 65.4
1,935 -
Million yen %
2,250 110.0
1,071 -
Million yen %
988 1.1
977 -
(Note) Comprehensive income: Nine months ended December 31, 2016: ¥2,069 million [491.7%]
Nine months ended December 31, 2015: ¥349 million [-%]
Earnings per share
Diluted earnings per share
Nine months ended
Yen
Yen
December 31, 2016
28.92
-
December 31, 2015
28.61
-
* The Company conducted a reverse stock split to consolidate every ten shares of common stock into one share on October 1, 2016. Earnings per share has been calculated assuming that the reverse stock split was conducted at the beginning of the previous consolidated fiscal year.
Consolidated Financial Condition
Total assets
Net assets
Equity ratio
As of December 31, 2016
Million yen
Million yen
%
240,133
53,551
21.2
As of March 31, 2016
241,155
51,492
20.4
(Reference) Equity: As of December 31, 2016: ¥51,028 million
As of March 31, 2016: ¥49,241 million
-
Dividends
Annual dividends
1st quarter-end
2nd quarter-end
3rd quarter-end
Year-end
Total
Fiscal year ended March 31, 2016
Fiscal year ending March 31, 2017
Yen
-
-
Yen
0.00
0.00
Yen
-
-
Yen
0.00
Yen
0.00
Fiscal year ending March 31, 2017 (Forecast)
0.00
0.00
(Note) Revision to the forecast for dividends announced most recently: None
- Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2017 (April 1, 2016 to March 31, 2017)
(% indicates changes from the previous corresponding period.)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Earnings per share
Full year
Million yen %
207,000 (4.3)
Million yen %
4,500 16.2
Million yen %
2,500 12.8
Million yen %
1,000 (54.9)
Yen
29.25
(Note) Revision to the financial results forecast announced most recently: None
* The Company conducted a reverse stock split to consolidate every ten shares of common stock into one share on October 1, 2016. Accordingly, earnings per share has been calculated factoring in this reverse stock split.
* Notes:Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): None
New: - (Company name); Excluded: - (Company name)
Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates and retrospective restatement
Changes in accounting policies due to the revision of accounting standards: Yes
Changes in accounting policies other than 1) above: None
Changes in accounting estimates: None
Retrospective restatement: None
Total number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares): December 31, 2016: 34,258,433 shares
March 31, 2016: 34,258,433 shares
Total number of treasury shares at the end of the period: December 31, 2016: 75,496 shares
March 31, 2016: 73,388 shares
Average number of shares during the period:
Nine months ended December 31, 2016: 34,184,398 shares
Nine months ended December 31, 2015: 34,186,362 shares
* The Company conducted a reverse stock split to consolidate every ten shares of common stock into one share on October 1, 2016. Number of issued shares at the end of the period, number of treasury shares at the end of the period and average number of shares during the period have been calculated assuming that the reverse stock split was conducted at the beginning of the previous consolidated fiscal year.
Presentation regarding the implementation status of the quarterly review procedures
These quarterly financial results are outside the scope of quarterly review procedures under the Financial Instruments and Exchange Act. At the time of disclosure of these quarterly financial results, review procedures for the quarterly financial statements have not been completed.
Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently acquired by the Company and certain assumptions assessed to be reasonable. Actual results may differ significantly from these forecasts due to a wide range of factors.
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
Assets
(Million yen) As of March 31, 2016 As of December 31, 2016
Current assets
Cash and deposits
11,381
13,340
Notes and accounts receivable - trade
48,338
48,768
Merchandise and finished goods
27,458
24,752
Work in process
7,646
6,377
Raw materials and supplies
10,399
10,515
Other
4,870
6,073
Allowance for doubtful accounts
(188)
(233)
Total current assets
109,907
109,595
Non-current assets
Property, plant and equipment
Buildings and structures, net
28,350
27,336
Machinery, equipment and vehicles, net
55,571
52,345
Land
22,518
22,106
Construction in progress
535
860
Other, net
2,899
2,501
Total property, plant and equipment
109,875
105,151
Intangible assets
Other
225
173
Total intangible assets
225
173
Investments and other assets
Investment securities
18,554
22,537
Other
2,932
2,777
Allowance for doubtful accounts
(338)
(100)
Total investments and other assets
21,147
25,214
Total non-current assets
131,248
130,538
Total assets 241,155 240,133
(Million yen)
As of March 31, 2016 As of December 31, 2016
Liabilities
Current liabilities
Notes and accounts payable - trade
23,245
27,899
Short-term loans payable
81,176
76,223
Income taxes payable
345
329
Other
13,910
15,271
Total current liabilities
118,677
119,723
Non-current liabilities
Long-term loans payable
57,443
52,779
Reserve for loss on dissolution of employee's fund
121
121
Net defined benefit liability
9,165
8,890
Asset retirement obligations
884
887
Other
3,370
4,179
Total non-current liabilities
70,985
66,858
Total liabilities
189,663
186,581
Net assets
Shareholders' equity
Capital stock
32,756
32,756
Capital surplus
7,456
7,456
Retained earnings
7,447
8,436
Treasury shares
(145)
(146)
Total shareholders' equity
47,514
48,501
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
3,014
5,185
Foreign currency translation adjustment
1,577
568
Remeasurements of defined benefit plans
(2,864)
(3,227)
Total accumulated other comprehensive income
1,727
2,526
Non-controlling interests
2,250
2,523
Total net assets
51,492
53,551
Total liabilities and net assets 241,155 240,133
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income Nine Months Ended December 31
For the nine months ended
December 31, 2015
(Million yen) For the nine months ended
December 31, 2016
Net sales 161,722 150,822
Cost of sales 136,395 124,471
Gross profit 25,327 26,350
Selling, general and administrative expenses 23,39123,149
Operating income 1,9353,200
Non-operating income
Interest income 3932
Dividend income 400410
Royalty income 184149
Compensation income 20211
Foreign exchange gains 67 -
Other 458 269
Total non-operating income 1,1701,073
Non-operating expenses
Interest expenses 1,7541,625
Foreign exchange loss - 53
Other 279 344
Total non-operating expenses 2,0332,023
Ordinary income 1,0712,250
Extraordinary income
Gain on disposal of non-current assets 1,457 14
Gain on sales of investment securities 0 233
Reversal of allowance for doubtful accounts for
subsidiaries and affiliates 197 -
Other | 23 | 63 |
Total extraordinary income | 1,679 | 311 |
Extraordinary losses | ||
Loss on disposal of non-current assets | 359 | 502 |
Special retirement expenses | 263 | 238 |
Business restructuring cost | 188 | 135 |
Other | 32 | 87 |
Total extraordinary losses | 843 | 963 |
Income before income taxes | 1,907 | 1,598 |
Income taxes | 917 | 571 |
Profit | 990 | 1,026 |
Profit attributable to non-controlling interests | 12 | 37 |
Profit attributable to owners of parent 977 988
Quarterly Consolidated Statements of Comprehensive Income Nine Months Ended December 31
For the nine months ended
December 31, 2015
(Million yen) For the nine months ended
December 31, 2016
Profit 990 1,026
Other comprehensive income
Valuation difference on available-for-sale securities (11) 2,477
Foreign currency translation adjustment (361) (942)
Remeasurements of defined benefit plans, net of tax (263) (303)
Share of other comprehensive income of entities
accounted for using equity method (4)(187)
Total other comprehensive income | (640) | 1,042 |
Comprehensive income | 349 | 2,069 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 287 | 1,787 |
Comprehensive income attributable to non-controlling
interests
61
281
Mitsubishi Paper Mills Ltd. published this content on 07 February 2017 and is solely responsible for the information contained herein.
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