October 5, 2015
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: 81-533-82-1113 URL http://www.osg-ir.com
- Consolidated Results for FY2015 Third-Quarter (December 1, 2014 - August 31, 2015)
Consolidated financial results (Amounts less than one million yen are omitted)
Net Sales
Operating income
Ordinary income
Net income
FY2015 third-quarter
Million yen %
Million yen %
Million yen %
Million yen %
83,824 12.5
16,680 31.0
16,631 32.4
9,941 40.5
FY2014 third-quarter
74,523 15.8
12,731 42.3
12,564 27.1
7,076 22.1
(Note) Comprehensive income FY2015 third-quarter: 8,658 million yen (-18.2%)
FY2014 third-quarter: 10,589 million yen (-35.9%)
Net income per share
Diluted net income per share
FY2015 third-quarter FY2014 third-quarter
Yen 104.68
74.53
Yen 95.50
67.98
Consolidated financial position
-
Dividends
Dividends per share
End of Q2
Year-end
Annual
FY2014
Yen 14.00
Yen 20.00
Yen 34.00
FY2015
26.00
FY2015 forecast
20.00
46.00
(Note) Revision of dividend forecast from previous announcement : None
-
Forecast of Consolidated Results for FY2015 (December 1, 2014 - November 30, 2015)
Net sales
Operating income
Ordinary income
Net income
Net income per share
Annual
Million yen % 112,800 11.6
Million yen % 21,500 23.5
Million yen % 21,600 22.9
Million yen % 12,800 28.1
Yen 134.77
(Note) Revision of financial forecast from previous announcement : None
- Others
Changes in significant subsidiaries during the current period
(Changes in specified subsidiaries that caused a change in the scope of consolidation) : None
Adoption of accounting method specific to the preparation of consolidated quarterly financial statements: Yes
Changes in accounting principles and accounting estimates and retrospective restatement
Changes in accounting principles due to amendment to accounting standards: None
Changes other than (3)-(i) above: None
Changes in accounting estimates: None
Retrospective restatement: None
Number of shares issued and outstanding (common stock)
Number of shares issued and outstanding at the end of each period (including treasury stock): FY2015 third-quarter: 95,955,226 shares
FY2014: 95,955,226 shares
Number of treasury stock at the end of each period: FY2015 third-quarter: 908,557 shares FY2014: 997,617 shares
Average number of shares outstanding in each period:
Total assets | Net assets | Equity ratio | |
FY2015 third-quarter | Million yen | Million yen | % |
147,671 | 109,560 | 67.2 | |
FY2014 | 142,302 | 100,943 | 64.3 |
(Reference) Equity FY2015 third-quarter: 99,164 million yen FY2014: 91,458 million yen
FY2015 third-quarter: 94,974,717 shares FY2014 third-quarter: 94,959,509 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 third-quarter
Current Assets | As of Nov. 30, 2014 | As of Aug. 31, 2015 | |
Cash and time deposits | 22,547 | 20,506 | |
Notes and accounts receivable | 21,628 | 20,788 | |
Marketable securities | 1 | 1 | |
Merchandise and finished goods | 16,046 | 18,931 | |
Work in process | 4,874 | 5,598 | |
Raw materials and supplies | 5,800 | 5,928 | |
Other | 4,770 | 4,855 | |
Allowance for doubtful accounts | (209) | (183) | |
Total current assets | 75,459 | 76,425 | 966 |
Change
Fixed Assets Tangible Assets
Building and structures | 15,819 | 16,535 | |
Machinery and equipment | 22,716 | 24,947 | |
Land | 13,578 | 14,580 | |
Other | 4,076 | 4,473 | |
Total tangible assets | 56,190 | 60,536 | 4,346 |
Intangible Assets
Goodwill | 192 | 637 | |
Other | 1,109 | 839 | |
Total intangible assets | 1,302 | 1,477 | 174 |
Investments and Other Assets Investment securities | 6,399 | 6,274 | |
Other | 3,267 | 3,259 | |
Allowance for doubtful accounts | (317) | (302) | |
Total investments and other assets | 9,349 | 9,231 | (117) |
Total fixed assets | 66,842 | 71,245 | 4,403 |
Total | 142,302 | 147,671 | 5,369 |
Consolidated Summary Balance Sheet
OSG Corporation
Liabilities and Net Assets (Million yen : amounts less than one million yen are omitted)
FY2014 FY2015 third-quarter
Current Liabilities | As of Nov. 30, 2014 | As of Aug. 31, 2015 | |
Notes and accounts payable | 4,159 | 4,390 | |
Short-term borrowings | 3,934 | 4,711 | |
Long-term borrowings, current portion | 523 | 470 | |
Income taxes payable | 3,751 | 2,654 | |
Reserve for employees' bonuses | 232 | 1,682 | |
Reserve for directors' bonuses | 449 | 512 | |
Other | 9,185 | 5,662 | |
Total current liabilities | 22,236 | 20,084 | (2,151) |
Long-term Liabilities | |||
Convertible bonds | 15,000 | 14,850 | |
Long-term borrowings Retirement allowance for directors and corporate auditors | 551 45 | 923 49 | |
Liabilities for employees' retirement benefits Other | 261 3,263 | 360 1,843 | |
Total long-term liabilities | 19,122 | 18,026 | (1,096) |
Total liabilities | 41,358 | 38,111 | (3,247) |
Shareholders' Equity Common stock | 10,404 | 10,404 | |
Capital surplus | 12,051 | 12,090 | |
Retained earnings | 66,837 | 73,143 | |
Treasury stock | (1,209) | (1,104) | |
Total shareholders' equity | 88,084 | 94,534 | 6,449 |
Change
Other items Unrealized gain on
available-for-sale securities | 2,044 | 2,278 | |
Foreign currency translation adjustments | 1,328 | 2,352 | |
Total other items | 3,373 | 4,630 | 1,256 |
Minority Interests | 9,485 | 10,395 | 910 |
Total net assets | 100,943 | 109,560 | 8,616 |
Total liabilities and net assets | 142,302 | 147,671 | 5,369 |
Consolidated Summary Statement of Income
OSG Corporation
(Million yen : amounts less than one million yen are omitted)
FY2014 third-quarter (2013/12/1 - 2014/8/31) | FY2015 third-quarter (2014/12/1 - 2015/8/31) | Change | |
Net Sales | 74,523 | 83,824 | 9,301 |
Cost of Sales | 43,245 | 46,164 | 2,919 |
Gross profit | 31,278 | 37,660 | 6,382 |
Selling, general and administrative expenses | 18,546 | 20,980 | 2,433 |
Operating income | 12,731 | 16,680 | 3,948 |
Other Income | |||
Interest income | 134 | 189 | |
Dividend income | 64 | 99 | |
Foreign exchange gain | 137 | - | |
Other | 504 | 609 | |
Total other income Other Expenses | 841 | 897 | 56 |
Interest expense | 205 | 94 | |
Sales discounts | 471 | 497 | |
Foreign exchange loss | - | 96 | |
Other | 331 | 257 | |
Total other expenses | 1,008 | 946 | (62) |
Ordinary income | 12,564 | 16,631 | 4,066 |
Extraordinary loss | 133 | - | (133) |
Income before income taxes and minority interests | 12,430 | 16,631 | 4,200 |
Income taxes | |||
Current | 4,571 | 5,830 | |
Deferred | (290) | (377) | |
Total income taxes | 4,280 | 5,452 | 1,171 |
Net income before minority interests | 8,149 | 11,178 | 3,028 |
Minority interests | 1,072 | 1,237 | 164 |
Net income | 7,076 | 9,941 | 2,864 |
Consolidated Statement of Comprehensive Income
OSG Corporation
(Million yen : amounts less than one million yen are omitted)
FY2014 third-quarter FY2015 third-quarter Change
(2013/12/1 - 2014/8/31) (2014/12/1 - 2015/8/31)
Net Income before Minority Interests | 8,149 | 11,178 | 3,028 |
Other Comprehensive Income | |||
Unrealized (loss) gain on available-for-sale securities | (18) | 229 | |
Foreign currency translation adjustments | 2,455 | (2,760) | |
Share of other comprehensive income in associates | 2 | 10 | |
Total other comprehensive income | 2,439 | (2,520) | (4,959) |
Comprehensive Income | 10,589 | 8,658 | (1,930) |
Total Comprehensive Income Attributable to:
Owners of the parent | 8,865 | 7,885 |
Minority interests | 1,724 | 773 |
Operations by Geographical Segment
Results for FY2015 third-quarter (Dec. 1, 2014 through Aug. 31, 2015)
Million yen
Japan The Americas Europe Asia Total Eliminations Consolidated Sales to customers 35,242 16,513 8,369 23,698 83,824 - 83,824
Interarea transfers 14,654 182 23 1,743 16,603 (16,603) -
Total sales 49,896 16,696 8,392 25,442 100,427 (16,603) 83,824
Operating income 8,602 2,647 959 5,219 17,428 (748) 16,680
(Reference) Results for FY2014 third-quarter (Dec. 1, 2013 through Aug. 31, 2014) | Million yen | |
Japan The Americas Europe Asia | Total | Eliminations Consolidated |
Sales to customers 34,591 13,342 7,482 19,107 | 74,523 | - 74,523 |
Interarea transfers 11,781 123 27 1,236 | 13,168 | (13,168) - |
Total sales 46,372 13,465 7,509 20,344 | 87,692 | (13,168) 74,523 |
Operating income 6,739 1,387 897 3,871 | 12,895 | (163) 12,731 |
Net sales by Product Segment
Million yen
FY2014 third-quarter (2013/12/1 - 2014/8/31) | FY2015 third-quarter (2014/12/1 - 2015/8/31) | |
Cutting tools: Taps | 25,389 | 28,927 |
End mills | 16,906 | 19,989 |
Drills and other cutting tools | 17,262 | 19,247 |
Total | 59,558 | 68,165 |
Rolling dies | 6,729 | 7,458 |
Gauges | 1,027 | 1,158 |
Other | 7,207 | 7,042 |
Total | 74,523 | 83,824 |
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