KAWASAKI HEAVY INDUSTRIES, LTD. AND CONSOLIDATED SUBSIDIARIES
FLASH CONSOLIDATED FINANCIAL RESULTS | February 6, 2020 |
For nine months ended December 31, 2019 and 2018 and one year ended March 31, 2019 | (Consolidated) |
Operating results
Millions of yen | Thousands of U.S. dollars | ||||||
Nine months ended | Nine months ended | Nine months ended | |||||
Net sales | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | ||||
1,135,444 | 1,094,583 | $ 10,364,619 | |||||
Operating profit | 30,983 | 36,849 | 282,821 | ||||
Profit attributable to owners of parent | 4,762 | 11,385 | 43,469 | ||||
Earnings per share (Yen) | 28.50 | 68.15 |
Financial position
Millions of yen / Thousand shares | Thousands of U.S. dollars | ||||||
As of | As of | As of | |||||
Total assets | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | ||||
2,053,540 | 1,838,855 | $ 18,745,230 | |||||
Net assets | 475,013 | 492,261 | 4,336,038 | ||||
Number of shares issued and outstanding | 167,044 | 167,045 | |||||
Equity Ratio | 22.3% | 25.9% |
Cash flows
Millions of yen | Thousands of U.S. dollars | ||||||
Nine months ended | Nine months ended | Nine months ended | |||||
Operating activities | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | ||||
(288,421) | (207,489) | $ (2,632,780) | |||||
Investing activities | (46,216) | (67,409) | (421,871) | ||||
Financing activities | 335,815 | 254,463 | 3,065,404 | ||||
Cash and cash equivalents at end of period | 70,914 | 43,259 | 647,321 |
Fiscal year forecast | Millions of yen | |||||||
Net sales | Operating profit | Profit attributable to | ||||||
owners of parent | ||||||||
One year ending March 31, 2020 | 1,660,000 | 60,000 | 25,000 |
- 1 -
(Consolidated)
Notes : 1. This "FLASH CONSOLIDATED FINANCIAL RESULTS" and following financial statements have been prepared in conformity with generally accepted accounting principles and practices in Japan.
2. All US$ amounts in these statements represent the arithmetical results of translating Japanese yen to U.S. dollars on the basis of ¥109.55=$1, the rate prevailing as of December 30, 2019, solely for the convenience of the readers.
- 2 -
(Consolidated) | |||||||||
Consolidated Balance Sheets | |||||||||
As of December 31 and March 31, 2019 | |||||||||
Millions of yen | Thousands of | ||||||||
U.S. dollars | |||||||||
As of | As of | As of | |||||||
Assets | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | ||||||
Current assets | 74,408 | ||||||||
Cash and deposits | 74,311 | $ | 679,215 | ||||||
Notes and accounts receivable - trade | 548,257 | 427,665 | 5,004,628 | ||||||
Merchandise and finished goods | 89,052 | 68,176 | 812,889 | ||||||
Work in process | 449,740 | 405,087 | 4,105,340 | ||||||
Raw materials and supplies | 128,011 | 119,558 | 1,168,517 | ||||||
Other | 66,322 | 45,333 | 605,404 | ||||||
Allowance for doubtful accounts | (4,094) | (3,792) | (37,371) | ||||||
Total current assets | 1,351,697 | 1,136,340 | 12,338,631 | ||||||
Non-current assets | |||||||||
Property, plant and equipment | 195,891 | ||||||||
Buildings and structures, net | 194,939 | 1,788,142 | |||||||
Other | 288,883 | 290,729 | 2,636,997 | ||||||
Total property, plant and equipment | 484,774 | 485,669 | 4,425,139 | ||||||
Intangible assets | 18,977 | 16,797 | 173,227 | ||||||
Investments and other assets | 199,402 | ||||||||
Other | 201,471 | 1,820,192 | |||||||
Allowance for doubtful accounts | (1,311) | (1,422) | (11,967) | ||||||
Total investments and other assets | 198,091 | 200,048 | 1,808,225 | ||||||
Total non-current assets | 701,843 | 702,514 | 6,406,600 | ||||||
Total assets | 2,053,540 | 1,838,855 | 18,745,230 | ||||||
Liabilities | |||||||||
Current liabilities | 227,269 | ||||||||
Notes and accounts payable - trade | 247,191 | 2,074,569 | |||||||
Electronically recorded obligations - operating | 111,157 | 123,083 | 1,014,669 | ||||||
Short-term borrowings | 283,420 | 100,023 | 2,587,129 | ||||||
Income taxes payable | 4,755 | 10,390 | 43,405 | ||||||
Provision for sales promotion expenses | 6,317 | 497 | 57,663 | ||||||
Provision for bonuses | 10,595 | 21,168 | 96,714 | ||||||
Provision for construction warranties | 12,428 | 13,096 | 113,446 | ||||||
Provision for loss on construction contracts | 14,214 | 27,609 | 129,749 | ||||||
Advances received | 145,900 | 181,419 | 1,331,812 | ||||||
Other | 272,256 | 139,800 | 2,485,221 | ||||||
Total current liabilities | 1,088,316 | 864,280 | 9,934,423 | ||||||
Non-current liabilities | 140,000 | ||||||||
Bonds payable | 140,000 | 1,277,955 | |||||||
Long-term loans payable | 191,940 | 187,568 | 1,752,077 | ||||||
Net defined benefit liability | 101,980 | 97,602 | 930,899 | ||||||
Provision for the in-service issues of | 13,993 | 11,468 | 127,732 | ||||||
commercial aircraft jet engines | |||||||||
42,296 | |||||||||
Other | 45,674 | 386,089 | |||||||
Total non-current liabilities | 490,211 | 482,313 | 4,474,770 | ||||||
Total liabilities | 1,578,527 | 1,346,593 | 14,409,192 | ||||||
Net assets | |||||||||
Shareholders' equity | 104,484 | ||||||||
Capital stock | 104,484 | 953,756 | |||||||
Capital surplus | 54,542 | 54,542 | 497,873 | ||||||
Retained earnings | 312,726 | 324,606 | 2,854,642 | ||||||
Treasury shares | (133) | (130) | (1,214) | ||||||
Total shareholders' equity | 471,620 | 483,502 | 4,305,066 | ||||||
Accumulated other comprehensive income | 2,673 | ||||||||
Valuation difference on available-for-sale securities | 2,682 | 24,400 | |||||||
Deferred gains or losses on hedges | (391) | (227) | (3,569) | ||||||
Foreign currency translation adjustment | (11,171) | (4,556) | (101,972) | ||||||
Remeasurements of defined benefit plans | (3,667) | (5,014) | (33,473) | ||||||
Total accumulated other comprehensive income | (12,556) | (7,115) | (114,614) | ||||||
Non-controlling interests | 15,949 | 15,874 | 145,586 | ||||||
Total net assets | 475,013 | 492,261 | 4,336,038 | ||||||
Total liabilities and net assets | 2,053,540 | 1,838,855 | 18,745,230 |
- 3 -
Consolidated Statements of Profit and Loss
For nine months ended December 31, 2019 and 2018
Net sales Cost of sales Gross profit
Selling, general and administrative expenses Salaries and allowances
Research and development expenses Other
Total selling, general and administrative expenses Operating profit
Non-operating income Interest income Dividend income
Share of profit of entities accounted for using equity method Other
Total non-operating income Non-operating expenses
Interest expenses Foreign exchange losses
Payments for the in-service issues of commercial aircraft jet engines
Other
Total non-operating expenses Ordinary profit Extraordinary income
Gain on sales of non-current assets Total extraordinary income
Extraordinary losses
Loss on withdrawal from business Total extraordinary losses
Profit before income taxes Income taxes
Profit
Profit attributable to non-controlling interests Profit attributable to owners of parent
(Consolidated)
Millions of yen | Thousands of | ||||||
U.S. dollars | |||||||
Nine months ended | Nine months ended | Nine months ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |||||
1,135,444 | 1,094,583 | $ | 10,364,619 | ||||
954,085 | 910,113 | 8,709,128 | |||||
181,359 | 184,469 | 1,655,491 | |||||
41,357 | 40,325 | 377,517 | |||||
36,371 | 33,427 | 332,004 | |||||
72,645 | 73,867 | 663,122 | |||||
150,375 | 147,620 | 1,372,661 | |||||
30,983 | 36,849 | 282,821 | |||||
530 | 648 | 4,838 | |||||
252 | 263 | 2,300 | |||||
867 | 1,014 | 7,914 | |||||
2,157 | 2,585 | 19,690 | |||||
3,807 | 4,512 | 34,751 | |||||
2,787 | 2,505 | 25,440 | |||||
4,794 | 4,620 | 43,761 | |||||
7,640 | 9,745 | 69,740 | |||||
4,189 | 4,625 | 38,238 | |||||
19,411 | 21,496 | 177,188 | |||||
15,379 | 19,865 | 140,383 | |||||
1,277 | - | 11,657 | |||||
1,277 | - | 11,657 | |||||
2,383 | - | 21,753 | |||||
2,383 | - | 21,753 | |||||
14,273 | 19,865 | 130,288 | |||||
8,416 | 6,721 | 76,823 | |||||
5,856 | 13,144 | 53,455 | |||||
1,094 | 1,758 | 9,986 | |||||
4,762 | 11,385 | 43,469 |
- 4 -
(Consolidated)
Segment information
Information by reportable segment
Millions of yen | ||||||||||||
Nine months ended | ||||||||||||
Dec. 31, 2018 | ||||||||||||
External | Intersegment | Total | Operating | |||||||||
sales | sales | sales | profit (loss) | |||||||||
Aerospace Systems | 328,137 | 8,536 | 336,674 | 21,295 | ||||||||
Energy System & Plant Engineering | 168,844 | 14,285 | 183,129 | 4,534 | ||||||||
Precision Machinery & Robot | 154,282 | 11,777 | 166,059 | 14,942 | ||||||||
Ship & Offshore Structure | 63,066 | 2,665 | 65,732 | 2,803 | ||||||||
Rolling Stock | 86,088 | 16 | 86,105 | (6,452) | ||||||||
Motorcycle & Engine | 226,298 | 496 | 226,795 | (33) | ||||||||
Other | 67,865 | 29,035 | 96,900 | 2,456 | ||||||||
Total | 1,094,583 | 66,813 | 1,161,397 | 39,545 | ||||||||
Eliminations and corporate | - | (66,813) | (66,813) | (2,696) | ||||||||
Consolidated total | 1,094,583 | - | 1,094,583 | 36,849 | ||||||||
Millions of yen | ||||||||||||
Nine months ended | ||||||||||||
Dec. 31, 2019 | ||||||||||||
External | Intersegment | Total | Operating | |||||||||
sales | sales | sales | profit (loss) | |||||||||
Aerospace Systems | 371,446 | 6,913 | 378,360 | 20,517 | ||||||||
Energy System & Plant Engineering | 162,317 | 23,379 | 185,697 | 13,027 | ||||||||
Precision Machinery & Robot | 147,080 | 11,422 | 158,503 | 5,216 | ||||||||
Ship & Offshore Structure | 53,016 | 6,514 | 59,531 | (788) | ||||||||
Rolling Stock | 97,477 | 12 | 97,489 | (3,147) | ||||||||
Motorcycle & Engine | 230,171 | 497 | 230,668 | (4,517) | ||||||||
Other | 73,934 | 27,782 | 101,716 | 2,055 | ||||||||
Total | 1,135,444 | 76,522 | 1,211,967 | 32,364 | ||||||||
Eliminations and corporate | - | (76,522) | (76,522) | (1,380) | ||||||||
Consolidated total | 1,135,444 | - | 1,135,444 | 30,983 | ||||||||
Thousands of U.S. dollars | ||||||||||||
Nine months ended | ||||||||||||
Dec. 31, 2019 | ||||||||||||
External | Intersegment | Total | Operating | |||||||||
sales | sales | sales | profit (loss) | |||||||||
Aerospace Systems | $ | 3,390,653 | $ | 63,104 | $ | 3,453,765 | $ | 187,284 | ||||
Energy System & Plant Engineering | 1,481,670 | 213,409 | 1,695,089 | 118,914 | ||||||||
Precision Machinery & Robot | 1,342,583 | 104,263 | 1,446,855 | 47,613 | ||||||||
Ship & Offshore Structure | 483,943 | 59,461 | 543,414 | (7,193) | ||||||||
Rolling Stock | 889,795 | 110 | 889,904 | (28,727) | ||||||||
Motorcycle & Engine | 2,101,059 | 4,537 | 2,105,596 | (41,232) | ||||||||
Other | 674,888 | 253,601 | 928,489 | 18,759 | ||||||||
Total | 10,364,619 | 698,512 | 11,063,140 | 295,427 | ||||||||
Eliminations and corporate | - | (698,512) | (698,512) | (12,597) | ||||||||
Consolidated total | $ | 10,364,619 | $ | - | $ | 10,364,619 | $ | 282,821 |
- 5 -
(Consolidated)
Orders by reportable segment
For nine months ended December 31, 2019 and 2018
Billions of yen | Millions of | |||||||
U.S. dollars | ||||||||
Nine months ended | Nine months ended | Nine months ended | ||||||
Orders : | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |||||
245.1 | ||||||||
Aerospace Systems | 280.5 | $ | 2,237 | |||||
Energy System & Plant Engineering | 184.3 | 201.6 | 1,682 | |||||
Precision Machinery & Robot | 157.1 | 172.0 | 1,434 | |||||
Ship & Offshore Structure | 31.6 | 65.2 | 288 | |||||
Rolling Stock | 91.2 | 79.6 | 832 | |||||
Motorcycle & Engine | 230.1 | 226.2 | 2,100 | |||||
Other | 82.8 | 71.1 | 756 | |||||
Total | 1,022.6 | 1,096.6 | $ | 9,335 |
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Disclaimer
Kawasaki Heavy Industries Ltd. published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 04:06:03 UTC