Consolidated Financial Statements Summary (All financial information has been prepared in accordance with accounting principles generally accepted in Japan) November 1, 2011 Company name : TEIJIN LIMITED (Stock code 3401) Contact person : Masahiro Ikeda General Manager of IR Office TEL: +81-(0)3-3506-4395 (Amounts less than one million yen are omitted) 1. Highlight of the Second quarter of FY2011 (April 1, 2011 through September 30, 2011) (1) Consolidated financial results (Percentages are year-on-year changes) % % % % (1.6) 0.7 5.7 (20.4) 11.0 636.8 ― ― cf. Comprehensive income : 9,903million yen (FY2010: 2,225million yen) ※1 E.P.S.: Earnings per share (2) Consolidated financial position cf. Shareholders' equity : 290,074million yen(FY2010: 284,236million yen) 2. Dividends Note: Revision of outlook for dividends in the second quarter: No 3. Forecast for operating results in the year ending March 31, 2012 (Fiscal 2011) (Percentages are year-on-year changes) % % % % 9.1 3.0 (0.7) (4.7) 24.38 Note: Revision of outlook for fiscal 2011 consolidated operating results in the second quarter: Yes Operating income Million yen Million yen - - 2.00 - 3.00 FY2011 Ordinary income Net income Million yen Million yen Net sales 50,000 24,000 Dividends per share 1Q 2Q 3Q 4Q Annual E.P.S. Yen Period Yen 890,000 50,000 Yen FY2010 FY2011 FY2011 (Outlook) - Yen English translation from the original Japanese-language document http://www.teijin.co.jp/english/index.html 21,663 20,492 9,184 11,546 393,567 For the second quarter ended September 30, 2011 For the second quarter ended September 30, 2010 As of Setember 30, 2011 As of March 31, 2011 (For the year ended September 30, 2011) E.P.S.※1 Yen Diluted E.P.S. Yen Million yen For the second quarter ended September 30, 2011 For the second quarter ended September 30, 2010 20,652 784,520 Million yen 761,534 307,698 37.0 9.33 11.74 20,511 Million yen 11.72 Total assets 9.32 399,869 Million yen Net income Net sales Operating income Ordinary income Million yen Million yen Net assets Shareholders' equity ratio 310,347 % 37.3 3.00 6.00 3.00 Yen Yen 5.00
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Consolidated Financial Statements Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in Japan) November 1, 2011
Company name : TEIJIN LIMITED (Stock code 3401)
Contact person : Masahiro Ikeda General Manager of IR Office TEL: +81-(0)3-3506-4395
(Amounts less than one million yen are omitted)
1. Highlight of the Second quarter of FY2011 (April 1, 2011 through September 30, 2011)(1) Consolidated financial results (Percentages are year-on-year changes)
% % % %
(1.6) 0.7 5.7 (20.4)
11.0 636.8 ― ―
cf. Comprehensive income : 9,903million yen (FY2010: 2,225million yen)
Comprehensive income attributable to owners of the parent 1,507 8,774
Comprehensive income attributable to minority interests 718 1,129
Total
Share of other omprehensive income of associates accounted for using
the equity method
For the second quarter ended
September 30, 2010
For the second quarter ended
September 30, 2011
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(3) Consolidated Statements of Cash Flows
(Million yen)
Cash flows from operating activities
Income before income taxes 19,186 19,712
Depreciation and amortization of others 28,009 23,195
Interest and dividend income (759) (725)
Interest expense 2,279 2,093
Equity in losses (earnings) of affiliates (2,597) (3,871)
Decrease (increase) in receivables (5,736) (3,651)
Decrease (increase) in inventories (10,620) (34,413)
Increase (decrease) in payables 4,872 6,002
Other, net (11,333) (2,373)
Subtotal 23,300 5,968
Interest and dividends received 1,205 1,000
Interest paid (2,350) (2,222)
Income taxes paid (1,018) (3,099)
Net cash and cash equivalents provided by operating activities 21,136 1,647
Cash flows from investing activities
Purchase of property, plant and equipment (11,590) (13,122)
Purchase of investment securities (3,631) (36)
Purchase of investments in subsidiaries ― (4,950)
Other, net 2,396 (174)
Net cash and cash equivalents used in investing activities (12,824) (18,283)
Cash flows from financing activities
Increase (decrease) in short-term bank loans, net (3,528) 16,950
Increase (decrease) in commercial paper 14,000 (6,000)
Proceeds from long-term debt 3,626 20,000
Repayment of long-term debt (9,751) (8,128)
Issue of debentures 13,572 2,013
Redemption of debentures (18,697) (5,610)
Cash dividends paid (1,964) (2,952)
Cash dividends paid to minority shareholders (2,472) (1,676)
Other, net (46) (146)
Net cash and cash equivalents provided by financing activities (5,261) 14,449
Effect of exchange rate changes on cash and cash equivalents (480) 76
Net increase in cash and cash equivalents 2,569 (2,109)
Cash and cash equivalents at beginning of period 22,964 28,454
112 ―
Cash and cash equivalents at end of period 25,646 26,344
Increase of cash and cash equivalents due to change in scope
of consolidation
For the second quarter ended
September 30, 2010
For the second quarter ended
September 30, 2011
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(4) Notes Pertaining to Going Concern AssumptionNo
(5) Segment Information, etc.I. Outline of segments
The Company's reportable operating segments are components of an entity for which separate financial information is availableand evaluated regularly by the chief decision-making authority in determining the allocation of management resources and inassessing performance. The Company currently divides its operations into business groups, based on type of product/natureof business/services provided. The business groups formulate product and service strategies in a comprehensive manner inJapan and overseas.
Accordingly, the Company divides its operations into five reportable operating segments on the same basis as it uses internally:High-Performance Fibers (Aramid Fibers and Carbon Fibers and Composites); Polyester Fibers; Films and Plastics (Plasticsand Films); Pharmaceuticals and Home Health Care; and Trading and Retail.
Within the High-Performance Fibers segment, Aramid Fibers encompasses production and sale of thread, staple fibers andtextiles, and of synthetic leather, while Carbon Fibers and Composites encompasses the production and sale of carbon fibersproducts. Polyester Fibers includes the production and sale of filament yarn, staple fibers, spun yarn, processed fibers, nonwoven
fabrics and textiles, as well as of polyester raw materials. Within the Films and Plastics segment, Plastics involves the productionand sale of polycarbonate resin, other resins and resin products, while Films includes the production and sales of polyester films.Pharmaceuticals and Home Health Care encompasses the production and sales of pharmaceuticals, the production and rentalof home health care equipment and the provision of home health care services. Trading & Retail focuses on the planning and
sales of textile products.
II. FY10 2Q results (Apr. 2010 - Sep. 2010)Notes: 1. Corporate expenses are expenses that cannot be allocated to individual reportable operating segments and are primarily
related to basic research and head office administration. (Million yen)
transfers 5,344 20,240 3,850 0 2,301 31,736 15,003 46,739Net sales 57,458 71,105 114,666 66,480 104,494 414,204 32,404 446,608Segment income (loss) 1,158 (10) 10,937 11,809 1,919 25,813 897 26,711Note: "Others," which includes the Company's IT business, does not qualify as a reportable operating segment.
2. Difference between operating income and sum of operating income (loss) in reportable operating segments
(Adjustment) (Million yen)
Total reportable operating segmentsOthers segmentElimination of intersegment transactionsCorporate expenses*Operating incomeNote: Corporate expenses are expenses that cannot be allocated to individual reportable operating segments and are
primarily related to basic research and head office administration.
3. Loss on impairment and goodwill by reportable segmentsNo
20,511
140(6,340)
25,813897
Operating income
Sales
Grand
total
Reportable operating segments
Others*
Amount
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III. FY11 2Q results (Apr. 2011 - Sep. 2011)1. Segment sales and operating income (loss)
sales or transfer 5,177 17,155 3,081 0 2,039 27,453 16,933 44,386Net sales 59,559 71,079 96,033 68,043 107,404 402,119 35,834 437,954Segment income 4,230 1,994 5,724 11,914 2,358 26,223 1,086 27,310Note: "Others," which includes the Company's IT business, does not qualify as a reportable operating segment.
2. Difference between operating income and sum of operating income (loss) in reportable operating segments
(Adjustment) (Million yen)
Total reportable operating segmentsOthers segmentElimination of intersegment transactionsCorporate expenses*Operating incomeNotes: 1. Corporate expenses are expenses that cannot be allocated to individual reportable operating segments and are primarily
related to basic research and head office administration.2. As explained in Changes in accounting principles, procedures and presentation methods, in the section titled 2. Other
Information, the Company and its domestic consolidated subsidiaries, which have to date determined depreciation—principally of equipment— using the declining balance method, have, effective from the first quarter of FY11,adopted the straight-line method. The impact of this change in the first quarter of FY11 was to increase operating incomeby \120 million in the High-Performance Fibers segment, \113million in the Polyester Fibers segment, \230 million in theFilms and Plastics segment, \497 million in the Pharmaceuticals and Home Health Caresegment and \55 million in the Otherssegment, and to reduce corporate expenses by \169 million, compared to what would have been the case had the formermethod had been used.
3. Loss on impairment and goodwill by reportable segmentsNo
(6) Notes on Significant Changes in Shareholders' EquityNo
(7) Subsequent EventFlooding in Thailand
Owing to the severe flooding in Thailand this year, in October 2011 production facilities belonging to certain Teijin Group subsidiaries inthe country have been inundated or otherwise damaged. As entry into these facilities is not currently possible, we are unable at thistime to accurately calculate the financial impact of this event, net of the amount of insurance settlements, nor to estimate when thesefacilities will be able to resume normal operations.