OSG : Announcement of FY2015 Financial Results

2015-11SummaryReport.xlsx

FY2015 Consolidated Financial Results (December 1, 2014 - November 30, 2015)

January 12, 2016

Company name : OSG Corporation

Shares Listed : 1st section of Tokyo and Nagoya Stock Exchanges

Code Number : 6136

Location of the head office : Aichi Prefecture

Representative: : Norio Ishikawa, President

Contact person: : Koji Sonobe, Managing Director

TEL: [phone] URL http://www.osg-ir.com

1. Consolidated Results for FY2015 (December 1, 2014 - November 30, 2015)

2. Consolidated financial results (Amounts less than one million yen are omitted)

   Net Sales	Operating income	Ordinary income	Net income
   FY2015	Million yen %	Million yen %	Million yen %	Million yen %
   	111,917 10.8	21,597 24.0	21,510 22.4	12,518 25.3
   FY2014	101,031 14.3	17,415 35.8	17,568 26.3	9,989 15.9

   (Note) Comprehensive income FY2015: 12,760 million yen (-25.0%)

   FY2014: 17,007 million yen (-17.3%)

   
   

   Net income per share	Diluted net income per share	Return on equity	Ordinary income to total assets	Operating income to net sales
   FY2015	Yen	Yen	%	%	%
   	131.78	120.25	12.9	14.5	19.3
   FY2014	105.20	95.96	11.7	12.7	17.2

   (Reference) Equity in net income of affiliates FY2015: 3 million yen FY2014: 4 million yen

   
   

3. Consolidated financial position

   Total assets	Net assets	Equity ratio	Net assets per share
   FY2015	Million yen	Million yen	%	Yen
   	155,129	113,637	66.1	1,079.12
   FY2014	142,302	100,943	64.3	963.15

   (Reference) Equity FY2015: 102,566 million yen FY2014: 91,458 million yen

   
   

4. Consolidated cash flows

Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash & cash equivalents at end of period
FY2015	Million yen	Million yen	Million yen	Million yen
	19,588	-16,976	-6,216	19,402
FY2014	19,688	-3,119	-12,813	21,474




5. Dividends

   
   

   Dividends per share			Total dividends	Payout ratio (consolidated)	Dividends to net assets (consolidated)
   End of 2Q	Year-end	Annual
   FY2014	Yen	Yen	Yen	Million yen	%	%
   	14.00	20.00	34.00	3,228	32.3	3.8
   FY2015	26.00	20.00	46.00	4,369	34.9	4.5
   FY2016 forecast	22.00	28.00	50.00	33.9

   
   

6. Forecast of Consolidated Results for FY2016 (December 1, 2015 - November 30, 2016)

   
   

   Net sales	Operating income	Ordinary income	Net income	Net income per share
   Semi-Annual	Million yen %	Million yen %	Million yen %	Million yen %	Yen
   	57,000 1.4	10,600 -3.8	10,600 -3.4	6,300 -4.8	66.28
   Annual	117,000 4.5	23,000 6.5	23,000 6.9	14,000 11.8	147.30

7. Others




1. Changes in significant subsidiaries during the current period

   (Changes in specified subsidiaries that caused a change in the scope of consolidation) : None

   
   

2. Changes in accounting principles and accounting estimates and retrospective restatement

3. Changes in accounting principles due to amendment to accounting standards: None

4. Changes other than (2)-(i) above: None

5. Changes in accounting estimates: None

6. Retrospective restatement: None

   
   

7. Number of shares issued and outstanding (common stock)

8. Number of shares issued and outstanding at the end of each period (including treasury stock): FY2015: 95,955,226 shares

   FY2014: 95,955,226 shares

9. Number of treasury stock at the end of each period: FY2015: 908,970 shares

   FY2014: 997,617 shares

10. Average number of shares outstanding in each period: FY2015: 94,991,265 shares

FY2014: 94,959,095 shares




[Note regarding forecast]

The above forecasts for financial results are based on information available at the time this report was released. These forecasts and other forward-looking statements are not guarantees of future performance. Actual operating results may differ from the above forecasts due to known and unknown risks, uncertainties, and other factors.

Consolidated Summary Balance Sheet

OSG Corporation




Assets (Million yen : amounts less than one million yen are omitted)

FY2014 FY2015

Current Assets	As of Nov. 30, 2014	As of Nov. 30, 2015
Cash and time deposits	22,547	21,472
Notes and accounts receivable	21,628	21,519
Marketable securities	1	78
Merchandise and finished goods	16,046	19,292
Work in process	4,874	5,297
Raw materials and supplies	5,800	6,083
Deferred tax assets	1,807	2,238
Other	2,963	2,899
Allowance for doubtful accounts	(209)	(188)
Total current assets	75,459	78,692	3,232

Change




Fixed Assets Tangible Assets

Building and structures	15,819	16,651
Machinery and equipment	22,716	27,428
Tools, furniture, and fixtures	1,833	2,117
Land	13,578	15,107
Construction in progress	2,239	1,968
Other	2	2
Total tangible assets	56,190	63,276	7,086

Intangible Assets




Goodwill	192	532
Other	1,109	721
Total intangible assets	1,302	1,254	(47)
Investments and Other Assets Investment securities	6,399	7,239
Investment in capital	675	1,733
Long-term loans	336	444
Deferred tax assets	459	412
Other	1,795	2,488
Allowance for doubtful accounts	(317)	(411)
Total investments and other assets	9,349	11,906	2,556
Total fixed assets	66,842	76,437	9,595
Total	142,302	155,129	12,827

Consolidated Summary Balance Sheet

OSG Corporation




Liabilities and Net Assets (Million yen : amounts less than one million yen are omitted)

FY2014 FY2015

Current Liabilities	As of Nov. 30, 2014	As of Nov. 30, 2015
Notes and accounts payable	4,159	4,980
Short-term loans payable	3,934	4,052
Current portion of long-term loans payable	523	445
Accrued expenses	6,486	6,715
Income taxes payable	3,751	3,486
Deferred tax liabilities	-	7
Reserve for directors' bonuses	449	637
Other	2,930	3,189
Total current liabilities	22,236	23,515	1,279
Long-term Liabilities
Convertible bonds	15,000	14,850
Long-term borrowings	551	847
Deferred tax liabilities Retirement allowance for directors and corporate auditors	945 45	1,222 50
Liabilities for employees' retirement benefits Other	261 2,318	244 761
Total long-term liabilities	19,122	17,976	(1,145)
Total liabilities	41,358	41,491	133
Shareholders' Equity Common stock	10,404	10,404
Capital surplus	12,051	12,090
Retained earnings	66,837	75,719
Treasury stock	(1,209)	(1,104)
Total shareholders' equity	88,084	97,109	9,025

Change




Accumulated other comprehensive income Unrealized gain on

available-for-sale securities 2,044 2,709 Deferred gain on

derivatives under hedge accounting	- 2
Foreign currency translation adjustments	1,328 2,745
Total accumulated other comprehensive income	3,373 5,456	2,083
Minority Interests	9,485 11,071	1,585
Total net assets	100,943 113,637	12,694
Total liabilities and net assets	142,302 155,129	12,827