August 4, 2017
[Japanese GAAP] Company name:NITTOKU ENGINEERING CO., LTD. Listing: Tokyo Stock Exchange (JASDAQ) Stock code: 6145 URL:http://www.nittoku.co.jpRepresentative: Nobushige Kondo, President
Contact: Hiroshi Isoda, Executive Officer, General Administration Division Executive General Manager Tel: +81-48-837-2011
Scheduled date of filing of Quarterly Report: August 10, 2017
Scheduled date of payment of dividend: -Preparation of supplementary materials for quarterly financial results: YesHolding of quarterly financial results meeting:None
Note: The original disclosure in Japanese was released on August 4, 2017, at 15:00 (GMT +9).
(All amounts are rounded down to the nearest million yen)
- Consolidated Financial Results for the First Quarter Ended June 30, 2017 (Apr. 1, 2017 - Jun. 30, 2017)
Consolidated results of operations (Percentages represent year-on-year changes)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Three months ended Jun. 30, 2017
Three months ended Jun. 30, 2016
Million yen
5,401
4,882
%
10.6
(1.4)
Million yen
683
430
%
58.6
-
Million yen
698
501
%
39.3
758.5
Million yen
491
349
%
40.9
36.3
Note: Comprehensive income (million yen) Three months ended Jun. 30, 2017: 685 (- %)
Three months ended Jun. 30, 2016: (117) (- %)
Net income per share
Diluted net income per share
Three months ended Jun. 30, 2017
Three months ended Jun. 30, 2016
Yen 27.23
19.33
Yen
-
-
Consolidated financial position
Total assets
Net assets
Equity ratio
As of Jun. 30, 2017
Million yen
Million yen
%
37,647
23,438
62.1
As of Mar. 31, 2017
33,695
23,006
68.1
Reference: Shareholders' equity (million yen) As of Jun. 30, 2017: 23,376 As of Mar. 31, 2017: 22,948
-
Dividends
Dividend per share
1Q-end
2Q-end
3Q-end
Year-end
Total
Fiscal year ended Mar. 31, 2017
Fiscal year ending Mar. 31, 2018
Yen
-
-
Yen
14.00
Yen
-
Yen
14.00
Yen
28.00
Fiscal year ending Mar. 31, 2018 (forecast)
14.00
-
14.00
28.00
Note: Revisions to the most recently announced dividend forecast: None
- Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2018 (Apr. 1, 2017 - Mar. 31, 2018)
(Percentages represent year-on-year changes)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Net income per share
First half
Million yen
%
Million yen
%
Million yen
%
Million yen
%
Yen
13,500
22.9
1,800
44.9
1,830
36.4
1,300
42.1
71.95
Full year
25,500
9.5
3,150
9.6
3,200
6.9
2,300
3.2
127.30
Note: Revisions to the most recently announced consolidated earnings forecast: None
* NotesChanges in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scope of consolidation): None
Newly added: - Excluded: -
Application of special accounting methods in the preparation of the quarterly consolidated financial statements: None
Changes in accounting policies and accounting-based estimates, and restatements
Changes in accounting policies due to revisions in accounting standards, others: None
Changes in accounting policies other than 1) above: None
Changes in accounting-based estimates: None
Restatements: None
Number of outstanding shares (common stock)
Number of shares outstanding at the end of the period (including treasury shares)
As of Jun. 30, 2017: 18,098,923 shares As of Mar. 31, 2017: 18,098,923 shares
Number of treasury shares at the end of the period
As of Jun. 30, 2017: 30,969 shares As of Mar. 31, 2017: 30,969 shares
Average number of shares outstanding during the period
Three months ended Jun. 30, 2017: 18,067,954 shares Three months ended Jun. 30, 2016: 18,068,173 shares
The current quarterly financial report is not subject to quarterly review procedures.
Explanation of appropriate use of earnings forecasts, and other special items
- Forecasts of future performance in these materials are based on assumptions judged to be valid and information available to the Company's management at the time the materials were prepared. These materials are not promises by the Company regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons. For discussion of the assumptions and other factors considered by the Company in preparing the above projections, please refer to page 3 of the attachments "1. Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements."
Contents of AttachmentsQualitative Information on Quarterly Consolidated Financial Performance 2
Explanation of Results of Operations 2
Explanation of Financial Position 3
Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements 3
Quarterly Consolidated Financial Statements and Notes 4
Quarterly Consolidated Balance Sheet 4
Quarterly Consolidated Statements of Income and Comprehensive Income 6
Notes to Quarterly Consolidated Financial Statements 8
Going Concern Assumption 8
Significant Changes in Shareholders' Equity 8
Segment and Other Information 8
1. Qualitative Information on Quarterly Consolidated Financial Performance (1) Explanation of Results of OperationsIn the first quarter of the current fiscal year, amid rising expectations for economic recovery mixed with cautious observations and analyses, the world economy saw accelerated evolution of the Internet, computers, electronic devices and IoT, as well as intensified competition for the development of robots, AI and electric vehicles, which were further propelled by governments' policies.
All these progresses cannot possibly be achieved without the development of electronic components, IoT devices and motor systems, to which coils are key components. More recently, manufacturing of products and components equipped with such coils as key parts has become more FA-oriented, aiming to achieve labor savings, compatibility with microfabrication and precision engineering, and stable production and quality. While general-purpose production facilities require manufacturers to customize them to create products with better quality, most of our flagship products are precision factory automation lines which can readily create added values to products and components. To make it happen, the Nittoku Engineering Group (hereinafter, "the Group") should play a role as an industrial engineering agent who develops the facilities with knowledge not only of the characteristics of output products but also of material inputs for production. As such, we are striving to meet the changing needs of manufacturers of electronic components, IoT devices and motor systems who seek a "turn-key solution."
To this end, we develop FA lines, equipment and systems through developing facilities utilizing our coil-related technologies, acquiring material knowledge, and at the same time leveraging on open innovation, alliance and M&A as necessary. We also offer world-wide service networks to support our customers as part of providing turn-key solutions.
These efforts have borne a fruit. We have experienced a substantial increase in orders from leading companies across the globe in the electronics, electric, and automobile industries as we are one of the very few manufacturers with a capability to build up integrated precision FA lines providing a turn-key solution. In fact, orders from the automobile sector, the information & communications sector, and the AV & home appliance sector increased twofold, 70% and fourfold year on year, respectively.
These precision FA lines are tailor-made to the need of each user, with our engineers fully engaged in almost all the processes including designing, procuring, processing, assembling, and adjusting as per user-requested specifications. As this manufacturing approach depends heavily on skills and know-hows cultivated personally for years, we are vigorously taking measures such as securing and training personnel, increasing both quality and quantity of our business partners and suppliers, and standardizing and communizing designs and components. Furthermore, we have helped small- and medium-sized domestic production equipment manufacturers to strengthen their technologies through the concept of open innovation and alliance with the Group, whereby we can increase our capability and expand the field of factory automation in which we work.
Additionally, to meet manufacturers' changing needs steadily and speedily, we allocated approximately one billion yen for R&D programs for the current fiscal year, which is about two times more than the actual R&D expenditure for the previous fiscal year. The R&D programs will allow us to further develop control technology and FA systems, as well as an EV motor with an ultimate goal to develop relevant facilities. We believe that these efforts will make us a precision FA manufacturer who leads the globally exploding market of smart factory equipment.
As a result, net sales increased 10.6% year on year to 5,401 million yen with operating profit of 683 million yen (up 58.6% year on year), ordinary profit of 698 million yen (up 39.3% year on year), and profit attributable to owners of parent of 491 million yen (up 40.9% year on year).
Results by business segment were as follows.
From the first quarter of the current fiscal year, the coil winding machine business segment was renamed to the winding system & mechatronics business segment. The change is only nominal and does not influence the segment information.
Nittoku Engineering Co. Ltd. published this content on 24 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 August 2017 07:22:07 UTC.
Original documenthttp://contents.xj-storage.jp/xcontents/61450/504112bc/ebfb/4b42/824d/1c1bcb91fb7c/20170824103806846s.pdf
Public permalinkhttp://www.publicnow.com/view/AF127BEA52C2DED5056216AA7F9B0013B4D16441