Musashi Seimitsu Industry Co., Ltd. Announces End of Second Quarter Dividend for the Fiscal Year Ending March 31, 2017, Payable on December 1, 2016; Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2017; Reports Consolidated Earnings Results for the First Half Year Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017
November 09, 2016
Share
Musashi Seimitsu Industry Co., Ltd. announced end of second quarter dividend of JPY 26.00 per share against JPY 25.00 per share a paid year ago, payable on December 1, 2016.
The company expects to pay of year end dividend of JPY 26 per share for the fiscal year ending March 31, 2017 against JPY 25.00 per share paid a year ago.
The company reported consolidated earnings results for the first half year ended September 30, 2016. For the period, net sales were JPY 75,012 million against JPY 81,480 million a year ago. Operating income was JPY 5,008 million against JPY 5,784 million a year ago. Ordinary income was JPY 2,506 million against JPY 4,770 million a year ago. Net income attributable to the shareholders of the parent company was JPY 1,617 million or JPY 47.32 per diluted share against JPY 3,364 million or JPY 98.55 per diluted share a year ago. Income before income taxes was JPY 2,513 million against JPY 4,824 million a year ago. Net cash provided by operating activities was JPY 12,501 million against JPY 10,972 million a year ago. Payment for purchase of property, plant and equipment was JPY 4,908 million against JPY 5,411 million a year ago.
The company provided earnings guidance for the fiscal year ending March 31, 2017. The company expects net sales of JPY 175,000 million, operating income of JPY 11,000 million, ordinary income of JPY 8,300 million and net income of JPY 5,300 million or JPY 169.90 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 End of Second Quarter Dividend for the Fiscal Year Ending March 31, 2017, Payable on December 1, 2016; Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2017; Reports Consolidated Earnings Results for the First Half Year Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017