Musashi Seimitsu Industry Co., Ltd. Announces Consolidated Earnings Results for the First Half Year Ended September 30, 2017; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2018
November 05, 2017
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Musashi Seimitsu Industry Co., Ltd. announced consolidated earnings results for the first half year ended September 30, 2017. For the period, net sales were JPY 113,635 million against JPY 75,012 million a year ago. Operating income was JPY 5,869 million against JPY 5,008 million a year ago. Ordinary income was JPY 6,147 million against JPY 2,506 million a year ago. Net income attributable to the shareholders of the parent company was JPY 3,474 million or JPY 111.35 per diluted share against JPY 1,617 million or JPY 51.84 per diluted share a year ago. Income before income taxes was JPY 6,045 million against JPY 2,513 million a year ago. Net cash provided by operating activities was JPY 11,726 million against JPY 12,501 million a year ago. Payment for purchase of property, plant and equipment was JPY 6,227 million against JPY 4,908 million a year ago. Purchase of intangible assets was JPY 81 million compared with JPY 285 million a year ago.
The company provided earnings guidance for the fiscal year ending March 31, 2018. The company expects net sales of JPY 225,000 million, operating income of JPY 13,500 million, ordinary income of JPY 13,000 million and profit attributable to owners of parent of JPY 8,100 million or JPY 259.59 per share.
Musashi Seimitsu Industry Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive powertrain parts, suspension parts, steering parts, and transmission parts. The Company operates its business through five geographical segments: Japan, Americas, Asia, China and Europe. Its products are used in industries such as automobiles, machine tools, and industrial machines. Powertrain (PT) products includes planetary gear assemblies, differential gear assemblies, bevel gears, ring gears, camshafts, and balance shafts. The linkage and suspension (L&S) products include suspension arm assemblies, suspension ball joints, steering ball joints, and various joints for connection. Motorcycle products include motorcycle transmission gear assemblies, motorcycle camshafts, motorcycle kick starter components, other motorcycle drivetrain components, and general-purpose engine components.
Musashi Seimitsu Industry Co., Ltd. Announces Consolidated Earnings Results for the First Half Year Ended September 30, 2017; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2018