Filing date of quarterly financial statements: Estimated starting date of dividend paying: Preparation of supplementary explanatory materials: Holding of quarterly earnings release conference:
July 29, 2020
-
Yes
Yes (for investment analysts and institutional investors)
(All monetary values noted herein are rounded down to the nearest million yen)
1. Consolidated financial results of the first quarter ended June 30, 2020 (April 1, 2020 through June 30, 2020)
(1) Operating results
(% of change from same period in the previous year)
Net income
Total
Operating
Income before
attributable to
Revenue
Net income
comprehensive
income
income taxes
owners of the
income
parent company
Millions
%
Millions
%
Millions
%
Millions
%
Millions
%
Millions
%
of yen
of yen
of yen
of yen
of yen
of yen
First quarter ended
163,310
-7.9
17,442
17.2
17,230
16.0
12,053
17.1
12,038
17.1
11,307
-
June 30, 2020
First quarter ended
177,238
-8.1
14,877
-43.9
14,848
-42.9
10,293
-40.1
10,282
-40.1
-1,080
-
June 30, 2019
Basic earnings per share
Diluted earnings per share
Yen
Yen
First quarter ended
80.03
79.97
June 30, 2020
First quarter ended
65.55
65.50
June 30, 2019
(2) Financial position
Equity attributable to owners
Ratio of equity attributable to
Total assets
Total equity
owners of the parent company
of the parent company
to total assets
Millions of yen
Millions of yen
Millions of yen
%
June 30, 2020
876,712
659,547
658,797
75.1
March 31, 2020
921,900
690,204
689,446
74.8
2. Dividends
Record Date
Dividends per share
1Q
2Q
3Q
Year-end
Annual
yen
yen
yen
yen
yen
March, 2020
-
100.00
-
100.00
200.00
March, 2021
-
March, 2021 (Forecast)
100.00
-
100.00
200.00
(Note) Revision of dividend forecast in the current quarter: Yes
- 1 -
3. Forecast for fiscal year ending March 31, 2021 (April 1, 2020 through March 31, 2021)
(% of change from same period in the previous year)
Net income
Revenue
Operating income
Income before
Net income
attributable to
Basic earnings
income taxes
owners of the
per share
parent company
Millions
%
Millions
%
Millions
%
Millions
%
Millions
%
yen
of yen
of yen
of yen
of yen
of yen
First half
350,000
-7.5
35,000
-14.8
35,000
-14.7
25,000
-14.3
25,000
-14.2
162.42
Annual
675,000
-8.9
64,000
-8.2
64,000
-7.3
45,000
-4.7
45,000
-4.6
301.95
(Note) Revision of consolidated forecast in the current quarter: Yes
Others
Changes in significant subsidiaries during the first quarter ended June 30, 2020: No
Changes in accounting policies applied and changes in accounting estimates
Changes in accounting policies required by IFRS: No
Changes in accounting policies other than the above: No
Changes in accounting estimates: No
Number of shares outstanding (Common stock)
Number of shares outstanding at the end of the period (including treasury stock)
June 30, 2020:
158,758,428
March 31, 2020: 158,758,428
2.
Number of treasury stock at the end of the period
June 30, 2020:
9,725,655
March 31, 2020: 4,839,755
3.
Average number of outstanding shares during the period (cumulative from the beginning of the period)
April-June 2020: 150,422,040
April-June 2019: 156,851,102
These quarterly financial results are not subject to quarterly review procedures by Certified Public Accountants or audit firm.
Explanations for adequate utilization of the forecast and other special matters
The forward-looking statements shown in this report, including the forecast, are prepared based on information available to the Company and on certain assumptions deemed reasonable as of the issuing date of the report. Consequently, the statements herein do not constitute promises regarding actual results by the Company. Actual results may differ materially from forecasted figures due to various unknown factors.
- 2 -
(Reference) Segment Information
(Yen in Millions)
First quarter ended June 30, 2019
First quarter ended June 30, 2020
(April 1, 2019
(April 1, 2020
through June 30, 2019)
through June 30, 2020)
Revenue
Revenue
Y-o-Y (%)
Functional Base Products
43,717
40,154
91.9
Industrial Tape
Transportation
36,084
20,746
57.5
Total
79,801
60,900
76.3
Operating income
5,567
1,650
29.6
Information Fine Materials
81,408
85,782
105.4
Optronics
Flexible Printed Circuits
9,794
10,390
106.1
Total
91,203
96,173
105.4
Operating income
11,051
17,717
160.3
Life Science
Revenue
5,856
7,043
120.3
Operating income
-1,424
-518
-
Others
Revenue
7,639
5,392
70.6
Operating income
-26
-1,021
-
Corporate/Elimination
Revenue
-7,261
-6,199
-
Operating income
-290
-385
-
Total
Revenue
177,238
163,310
92.1
Operating income
14,877
17,442
117.2
(Note) With the changes in the management structure that have been made during the fiscal year 2020 under review, partial changes have been made to reporting segments.
Such change has also been reflected in the figures for the first quarter ended June 30, 2019.
- 3 -
2. Quarterly Consolidated Financial Statements
(1) Quarterly consolidated statements of financial position
(Yen in Millions)
March 31, 2020
June 30, 2020
(Assets)
Current assets
Cash and cash equivalents
304,922
250,302
Trade and other receivables
154,473
154,102
Inventories
96,124
101,201
Other financial assets
2,642
1,868
Other current assets
17,893
19,391
Total current assets
576,056
526,866
Non-current assets
Property, plant and equipment
266,948
267,462
Right-of-use assets
16,266
16,640
Goodwill
4,852
4,783
Intangible assets
10,198
11,184
Investments accounted for using equity method
206
1,082
Financial assets
7,242
8,714
Deferred tax assets
25,694
25,585
Other non-current assets
14,434
14,392
Total non-current assets
345,843
349,845
Total assets
921,900
876,712
- 4 -
(Yen in Millions)
March 31, 2020
June 30, 2020
Liabilities and equity
(Liabilities)
Current liabilities
Trade and other payables
90,811
85,783
Bonds and borrowings
90
88
Income tax payables
10,036
4,494
Other financial liabilities
24,050
21,853
Other current liabilities
36,907
34,537
Total current liabilities
161,895
146,758
Non-current liabilities
Other financial liabilities
18,976
18,680
Defined benefit liabilities
48,272
48,845
Deferred tax liabilities
284
635
Other non-current liabilities
2,266
2,245
Total non-current liabilities
69,800
70,406
Total liabilities
231,696
217,164
(Equity)
Equity attributable to owners of the parent company
Share capital
26,783
26,783
Capital surplus
50,271
50,081
Retained earnings
643,521
640,167
Treasury stock
-27,505
-53,921
Other components of equity
-3,624
-4,313
Total equity attributable to owners of the parent
689,446
658,797
company
Non-controlling interests
757
750
Total equity
690,204
659,547
Total liabilities and equity
921,900
876,712
- 5 -
Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income (Quarterly consolidated statements of income)
(Yen in Millions)
First quarter ended June 30, 2019
First quarter ended June 30, 2020
(April 1, 2019
(April 1, 2020
through June 30, 2019)
through June 30, 2020)
Revenue
177,238
163,310
Cost of sales
126,408
112,788
Gross profit
50,830
50,522
Selling, general and administrative expenses
27,767
24,891
Research and development expenses
8,078
8,223
Other income
1,100
1,160
Other expenses
1,208
1,125
Operating income
14,877
17,442
Financial income
290
198
Financial expenses
329
416
Equity in profits (losses) of affiliates
10
5
Income before income taxes
14,848
17,230
Income tax expenses
4,555
5,176
Net income
10,293
12,053
Net income attributable to:
Owners of the parent company
10,282
12,038
Non-controlling interests
11
14
Total
10,293
12,053
Earnings per share attributable to owners of the parent company
Basic earnings per share (yen)
65.55
80.03
Diluted earnings per share (yen)
65.50
79.97
- 6 -
(Quarterly consolidated statements of comprehensive income)
(Yen in Millions)
First quarter ended June 30, 2019
First quarter ended June 30, 2020
(April 1, 2019
(April 1, 2020
through June 30, 2019)
through June 30, 2020)
Net income
10,293
12,053
Other comprehensive income
Items that will not be reclassified to profit or loss
Net gain (loss) on financial assets measured at fair value
-199
125
through other comprehensive income
Items that will be reclassified to profit or loss
Exchange differences on translating foreign operations
-11,167
-869
Net gain (loss) in fair value of cash flow hedges
-0
-1
Share of other comprehensive income of associates
-6
-0
accounted for using equity method
Total other comprehensive income
-11,373
-745
Total comprehensive income
-1,080
11,307
Total comprehensive income attributable to:
Owners of the parent company
-1,089
11,292
Non-controlling interests
9
14
Total
-1,080
11,307
- 7 -
(3) Quarterly consolidated statements of changes in equity
For the first quarter ended June 30, 2019 (April 1, 2019 through June 30, 2019)
(Yen in Millions)
Equity attributable to owners of the parent company
Non-
Share
Capital
Retained
Treasury
Other
components
Total
controlling
Total equity
capital
surplus
earnings
stock
of equity
interests
Balance as of April 1,
26,783
50,319
622,025
-11,081
12,395
700,443
744
701,187
2019
Net income
-
-
10,282
-
-
10,282
11
10,293
Other comprehensive
-
-
-
-
-11,372
-11,372
-1
-11,373
income
Total comprehensive
-
-
10,282
-
-11,372
-1,089
9
-1,080
income
Share-based payment
-
-37
-
-
48
11
-
11
transactions
Dividends
-
-
-14,116
-
-
-14,116
-23
-14,140
Changes in treasury
-
11
-
25
-
37
-
37
stock
Total transactions with
-
-25
-14,116
25
48
-14,068
-23
-14,091
owners
Balance as of June 30,
26,783
50,294
618,190
-11,055
1,072
685,285
730
686,015
2019
For the first quarter ended June 30, 2020 (April 1, 2020 through June 30, 2020)
(Yen in Millions)
Equity attributable to owners of the parent company
Non-
Share
Capital
Retained
Treasury
Other
components
Total
controlling
Total equity
capital
surplus
earnings
stock
of equity
interests
Balance as of April 1,
26,783
50,271
643,521
-27,505
-3,624
689,446
757
690,204
2020
Net income
-
-
12,038
-
-
12,038
14
12,053
Other comprehensive
-
-
-
-
-745
-745
-0
-745
income
Total comprehensive
-
-
12,038
-
-745
11,292
14
11,307
income
Share-based payment
-
-200
-
-
56
-144
-
-144
transactions
Dividends
-
-
-15,391
-
-
-15,391
-22
-15,414
Changes in treasury
-
10
-
-26,415
-
-26,405
-
-26,405
stock
Total transactions with
-
-190
-15,391
-26,415
56
-41,941
-22
-41,963
owners
Balance as of June 30,
26,783
50,081
640,167
-53,921
-4,313
658,797
750
659,547
2020
- 8 -
(4) Quarterly consolidated statements of cash flows
(Yen in Millions)
First quarter ended June 30, 2019
First quarter ended June 30, 2020
(April 1, 2019
(April 1, 2020
through June 30, 2019)
through June 30, 2020)
Cash flows from operating activities
Income before income taxes
14,848
17,230
Depreciation and amortization
12,331
11,840
Impairment losses
-
63
Increase (decrease) in defined benefit liabilities
708
559
Decrease (increase) in trade and other receivables
1,553
-28
Decrease (increase) in inventories
-7,057
-5,161
Increase (decrease) in trade and other payables
1,400
-4,940
Interest and dividend income
244
190
Interest expenses paid
-147
-180
Income taxes (paid) refunded
-5,771
-11,301
Others
-3,384
-3,187
Net cash provided by (used in) operating activities
14,727
5,083
Cash flows from investing activities
Purchase of property, plant and equipment and intangible
-17,264
-15,581
assets
Proceeds from sale of property, plant and equipment and
72
51
intangible assets
Decrease (increase) in time deposits
-1,385
674
Purchase of investment securities
-696
-322
Purchase of shares of subsidiaries and associates
-
-879
Others
0
0
Net cash provided by (used in) investing activities
-19,274
-16,057
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
24
-1
Repayment of finance lease obligations
-1,471
-1,471
Decrease (increase) in treasury stock
-0
-26,605
Cash dividends paid
-14,130
-15,391
Others
-23
-29
Net cash provided by (used in) financing activities
-15,601
-43,499
Effect of exchange rate changes on cash and cash
-2,967
-146
equivalents
Net increase (decrease) in cash and cash equivalents
-23,115
-54,620
Cash and cash equivalents at the beginning of the period
297,682
304,922
Cash and cash equivalents at the end of the period
274,566
250,302
- 9 -
(Segment information)
Information regarding revenue, income, or loss by segments
First quarter ended June 30, 2019 (April 1, 2019 through June 30, 2019)
(Yen in Millions)
Quarterly
Industrial
Optronics
Life Science
Others
Total
Adjustment
consolidated
Tape
statements of
income
Revenue from outside customers
76,092
89,454
4,792
6,647
176,987
251
177,238
Inter-segment revenue
3,709
1,748
1,063
992
7,513
-7,513
-
Total segment revenue
79,801
91,203
5,856
7,639
184,500
-7,261
177,238
Total operating income (loss)
5,567
11,051
-1,424
-26
15,167
-290
14,877
Financial income
290
Financial expenses
-329
Equity in profits (losses) of affiliates
10
Income before income taxes
14,848
(Note) With the changes in the management structure that have been made during the fiscal year 2020 under review, partial changes have been made to reporting segments.
Such change has also been reflected in the figures for the first quarter ended June 30, 2019.
Major products for each segment
Business segment
Major products
Industrial Tape
Functional Base Products (bonding and joining products, protective materials,
processing materials etc.), Automotive Products
Optronics
Information Fine Materials, Flexible Printed Circuits
Life Science
Medical Products
Others
Membrane Products, Other Products
- 10 -
First quarter ended June 30, 2020 (April 1, 2020 through June 30, 2020)
(Yen in Millions)
Quarterly
Industrial
Optronics Life Science
Others
Total
Adjustment
consolidated
Tape
statements of
income
Revenue from outside customers Inter-segment revenue
Total segment revenue
Total operating income (loss) Financial income Financial expenses
Equity in profits (losses) of affiliates Income before income taxes
Major products for each segment
Business segment
Industrial Tape
Optronics
Life Science
Others
57,752
94,510
6,098
4,752
163,113
197
163,310
3,148
1,662
945
640
6,396
-6,396
-
60,900
96,173
7,043
5,392
169,510
-6,199
163,310
1,650
17,717
-518
-1,021
17,827
-385
17,442
198
-416
5
17,230
Major products
Functional Base Products (bonding and joining products, protective materials, processing materials etc.), Automotive Products
Information Fine Materials, Flexible Printed Circuits
Nitto Denko Corporation published this content on 27 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2020 07:05:20 UTC
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