TIDM85GQ
RNS Number : 5389S
Nippon Sheet Glass Company Limited
20 May 2009
FY2009 Annual Consolidated Financial Results 20 May 2009
(English translation of the Japanese original)
Consolidated financial statements
(1) Balance sheet
+---------------------------------------------------+------------------+-----------------+
| | FY2008 | FY2009 |
+---------------------------------------------------+------------------+-----------------+
| | JPY million | JPY million |
+---------------------------------------------------+------------------+-----------------+
| ASSETS | | |
+---------------------------------------------------+------------------+-----------------+
| Current assets | | |
+---------------------------------------------------+------------------+-----------------+
| Cash and deposits | 127,928 | 94,979 |
+---------------------------------------------------+------------------+-----------------+
| Notes and account receivables - trade | 145,560 | 94,291 |
+---------------------------------------------------+------------------+-----------------+
| Inventories | 119,488 | - |
+---------------------------------------------------+------------------+-----------------+
| Merchandise and finished goods | - | 69,335 |
+---------------------------------------------------+------------------+-----------------+
| Work in Process | - | 10,352 |
+---------------------------------------------------+------------------+-----------------+
| Raw materials and supplies | - | 34,139 |
+---------------------------------------------------+------------------+-----------------+
| Deferred tax assets (current) | 7,375 | 974 |
+---------------------------------------------------+------------------+-----------------+
| Other current assets | 26,412 | 24,977 |
+---------------------------------------------------+------------------+-----------------+
| Allowance for doubtful accounts | (4,830) | (3,815) |
+---------------------------------------------------+------------------+-----------------+
| Total: Current assets | 421,935 | 325,231 |
+---------------------------------------------------+------------------+-----------------+
| | | |
+---------------------------------------------------+------------------+-----------------+
| Fixed assets | | |
+---------------------------------------------------+------------------+-----------------+
| Tangible assets | | |
+---------------------------------------------------+------------------+-----------------+
| Buildings and structures | 157,260 | 147,014 |
+---------------------------------------------------+------------------+-----------------+
| Accumulated depreciation | (76,559) | (79,334) |
+---------------------------------------------------+------------------+-----------------+
| Buildings and structures - net | 80,700 | 67,679 |
+---------------------------------------------------+------------------+-----------------+
| Machinery and vehicles | 389,523 | 366,197 |
+---------------------------------------------------+------------------+-----------------+
| Accumulated depreciation | (172,112) | (188,927) |
+---------------------------------------------------+------------------+-----------------+
| Machinery and vehicles - net | 217,410 | 177,270 |
+---------------------------------------------------+------------------+-----------------+
| Tools and dies | 42,190 | 41,603 |
+---------------------------------------------------+------------------+-----------------+
| Accumulated depreciation | (22,279) | (25,200) |
+---------------------------------------------------+------------------+-----------------+
| Tools and dies - net | 19,910 | 16,403 |
+---------------------------------------------------+------------------+-----------------+
| Land | 54,041 | 46,483 |
+---------------------------------------------------+------------------+-----------------+
| Leased assets | - | 8,089 |
+---------------------------------------------------+------------------+-----------------+
| Accumulated depreciation | - | (3,136) |
+---------------------------------------------------+------------------+-----------------+
| Leased assets - net | - | 4,953 |
+---------------------------------------------------+------------------+-----------------+
| Construction in progress | 3,410 | 4,690 |
+---------------------------------------------------+------------------+-----------------+
| Total: Tangible fixed assets | 375,474 | 317,478 |
+---------------------------------------------------+------------------+-----------------+
| | | |
+---------------------------------------------------+------------------+-----------------+
| Intangible assets | | |
+---------------------------------------------------+------------------+-----------------+
| Goodwill | 181,167 | 132,882 |
+---------------------------------------------------+------------------+-----------------+
| Other intangible assets | 171,506 | 127,283 |
+---------------------------------------------------+------------------+-----------------+
| Total: Intangible fixed assets | 352,674 | 260,165 |
+---------------------------------------------------+------------------+-----------------+
| | | |
+---------------------------------------------------+------------------+-----------------+
| Investments and other assets | | |
+---------------------------------------------------+------------------+-----------------+
| Investments | 99,867 | 55,935 |
+---------------------------------------------------+------------------+-----------------+
| Loan receivable (non-current) | 9,083 | - |
+---------------------------------------------------+------------------+-----------------+
| Prepaid expenses (non-current) | 2,193 | - |
+---------------------------------------------------+------------------+-----------------+
| Deferred tax assets (non-current) | 51,431 | 48,363 |
+---------------------------------------------------+------------------+-----------------+
| Other non-current assets | 7,616 | 19,382 |
+---------------------------------------------------+------------------+-----------------+
| Allowance for doubtful accounts | (987) | (1,334) |
+---------------------------------------------------+------------------+-----------------+
| Total: Investments and other assets | 169,205 | 122,347 |
+---------------------------------------------------+------------------+-----------------+
| Total: Fixed assets | 897,354 | 699,989 |
+---------------------------------------------------+------------------+-----------------+
| Total : Assets | 1,319,290 | 1,025,221 |
+---------------------------------------------------+------------------+-----------------+
| LIABILITIES | | |
+---------------------------------------------------+------------------+-----------------+
| Current liabilities | | |
+---------------------------------------------------+------------------+-----------------+
| Notes and accounts payable - trade | 98,955 | 61,902 |
+---------------------------------------------------+------------------+-----------------+
| Short-term bank borrowings | 92,956 | 84,784 |
+---------------------------------------------------+------------------+-----------------+
| Bonds maturing within one year | 10,000 | - |
+---------------------------------------------------+------------------+-----------------+
| Accounts payable (construction and other) | 22,788 | - |
+---------------------------------------------------+------------------+-----------------+
| Accrued Japanese consumption tax | 672 | - |
+---------------------------------------------------+------------------+-----------------+
| Accrued expenses | 36,893 | - |
+---------------------------------------------------+------------------+-----------------+
| Deposits from customers | 3,793 | - |
+---------------------------------------------------+------------------+-----------------+
| Lease obligations | - | 3,038 |
+---------------------------------------------------+------------------+-----------------+
| Accrued income tax | 16,732 | 19,369 |
+---------------------------------------------------+------------------+-----------------+
| Deferred tax liabilities (current) | 2 | 3 |
+---------------------------------------------------+------------------+-----------------+
| Provision for employees' bonuses | 2,530 | 2,458 |
+---------------------------------------------------+------------------+-----------------+
| Provision for directors' bonuses | 135 | 8 |
+---------------------------------------------------+------------------+-----------------+
| Provision for losses incurring from enhanced | 12,519 | 245 |
| early retirement program | | |
+---------------------------------------------------+------------------+-----------------+
| Provision arising from alleged violation of | 49,992 | - |
| competition law of the European Union | | |
+---------------------------------------------------+------------------+-----------------+
| Provision for Netherland fine | - | 2,590 |
+---------------------------------------------------+------------------+-----------------+
| Provision for warranties and claims | 7,322 | 4,968 |
+---------------------------------------------------+------------------+-----------------+
| Provision for restructuring expenditure | - | 10,941 |
+---------------------------------------------------+------------------+-----------------+
| Provision for German minority interest | - | 3,192 |
+---------------------------------------------------+------------------+-----------------+
| Other current liabilities | 34,480 | 75,817 |
+---------------------------------------------------+------------------+-----------------+
| Total: Current liabilities | 389,775 | 269,315 |
+---------------------------------------------------+------------------+-----------------+
| Non-current liabilities | | |
+---------------------------------------------------+------------------+-----------------+
| Bonds | 33,000 | 60,000 |
+---------------------------------------------------+------------------+-----------------+
| Long-term bank borrowings | 320,452 | 273,557 |
+---------------------------------------------------+------------------+-----------------+
| Lease obligations | - | 4,943 |
+---------------------------------------------------+------------------+-----------------+
| Deferred tax liabilities (non-current) | 90,413 | 62,271 |
+---------------------------------------------------+------------------+-----------------+
| Accrued retirement benefits for employees | 75,026 | 62,808 |
+---------------------------------------------------+------------------+-----------------+
| Accrued retirement benefits for directors | 436 | 183 |
+---------------------------------------------------+------------------+-----------------+
| Provision for rebuilding furnaces | 9,763 | 10,159 |
+---------------------------------------------------+------------------+-----------------+
| Environmental provision | 7,247 | 6,531 |
+---------------------------------------------------+------------------+-----------------+
| Other non-current liabilities | 21,176 | 18,232 |
+---------------------------------------------------+------------------+-----------------+
| Total: Non-current liabilities | 557,516 | 498,683 |
+---------------------------------------------------+------------------+-----------------+
| Total : Liabilities | 947,291 | 767,998 |
+---------------------------------------------------+------------------+-----------------+
| NET ASSETS | | |
+---------------------------------------------------+------------------+-----------------+
| Shareholders' Equity | | |
+---------------------------------------------------+------------------+-----------------+
| Common stock | 96,147 | 96,147 |
+---------------------------------------------------+------------------+-----------------+
| Capital surplus | 105,292 | 105,287 |
+---------------------------------------------------+------------------+-----------------+
| Retained earnings | 152,097 | 118,159 |
+---------------------------------------------------+------------------+-----------------+
| Treasury stocks - at cost | (541) | (585) |
+---------------------------------------------------+------------------+-----------------+
| Total: Shareholders' equity | 352,995 | 319,009 |
+---------------------------------------------------+------------------+-----------------+
| Valuation and translation adjustments | | |
+---------------------------------------------------+------------------+-----------------+
| Unrealized holding gain on securities | 9,194 | 2,339 |
+---------------------------------------------------+------------------+-----------------+
| Net unrealized loss on derivative instruments | (127) | (10,756) |
+---------------------------------------------------+------------------+-----------------+
| Foreign currency translation adjustments | (3,626) | (63,944) |
+---------------------------------------------------+------------------+-----------------+
| Total: Valuation and translation adjustments | 5,439 | (72,361) |
+---------------------------------------------------+------------------+-----------------+
| Stock Options | 253 | 493 |
+---------------------------------------------------+------------------+-----------------+
| Minority interests in consolidated subsidiaries | 13,310 | 10,082 |
+---------------------------------------------------+------------------+-----------------+
| Total: Net assets | 371,998 | 257,223 |
+---------------------------------------------------+------------------+-----------------+
| Total: Liabilities and Net Assets | 1,319,290 | 1,025,221 |
+---------------------------------------------------+------------------+-----------------+
(2) Income statement
+----------------------------------------------------+-----------+----------+---------+-----------+
| | FY2008 | FY2009 |
+----------------------------------------------------+----------------------+---------------------+
| | JPY million | JPY million |
+----------------------------------------------------+----------------------+---------------------+
| Net sales | | 865,587 | | 739,365 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Cost of sales | | 594,379 | | 537,269 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gross Income | | 271,208 | | 202,095 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Selling, general and administrative expenses | | 224,746 | | 200,187 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Operating income | | 46,462 | | 1,908 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Non-operating income | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Interest and dividend income | 9,645 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Interest income | - | | 6,787 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Dividend income | - | | 1,471 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Equity in earnings of affiliates | 10,257 | | 1,585 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Other non-operating income | 1,785 | 21,688 | 1,526 | 11,369 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Non-operating expense | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Interest expense | 25,497 | | 19,956 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Foreign exchange loss | - | | 2,807 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Other non-operating expense | 12,216 | 37,713 | 2,773 | 25,537 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Ordinary income/(loss) | | 30,437 | | (12,259) |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Extraordinary income | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gain from sale of fixed assets | 2,679 | | 1,337 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gain from sale of investments in securities | 13,414 | | 7,720 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gain from sale of investments in subsidiaries and | 12 | | 30,023 | |
| affiliates | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gain from sale of discontinued operation | 30,831 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Income from discontinued operations | 497 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Insurance income | 1,761 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Gain incurred from prior year adjustments | 2,072 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Other | - | 51,268 | 813 | 38,893 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Extraordinary loss | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss on sales and retirement of non current assets | 1,574 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss on retirement of non current assets | - | | 1,106 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss on sales of non current assets | - | | 714 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Impairment of fixed assets | 1,699 | | 9,899 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Revaluation of investments in securities | 474 | | 1,388 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss from sale of investments in securities | 3 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Revaluation of investments in subsidiaries and | 1,206 | | - | |
| affiliates | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Liquidation of investments in subsidiaries and | 58 | | - | |
| affiliates | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss from revaluation and sale of golf playing | 164 | | - | |
| rights | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Special support for early retirees | 614 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Provision for loss deriving from enhanced early | 12,519 | | - | |
| retirement program | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss from revaluation of inventories | 843 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss incurred due to withdrawal of business | 288 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Loss arising on notification of EC fine | - | | 7,773 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Restructuring expenditure | - | | 15,375 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Other | - | 19,447 | 4,895 | 41,149 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Net income/(loss) before taxation and minority | | 62,258 | | (13,515) |
| interest | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Income tax - current | 13,800 | | 17,999 | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Previous year tax adjustments | 1,195 | | - | |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Income tax - deferred | (5,411) | 9,584 | (5,167) | 12,833 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Minority interest in net income of subsidiaries | | 2,256 | | 2,044 |
+----------------------------------------------------+-----------+----------+---------+-----------+
| Net income/(loss) | | 50,416 | | (28,392) |
+----------------------------------------------------+-----------+----------+---------+-----------+
| | | | | |
+----------------------------------------------------+-----------+----------+---------+-----------+
(3) Movement in net assets
+----+----+----+----+--------------------------+--------------------------+------------------+------------------+
| | | | | | | | |
+----+----+----+----+--------------------------+--------------------------+------------------+------------------+
| | | | | | | FY2008 | FY2009 |
| | | | | | | JPY million | JPY million |
+----+----+----+----+--------------------------+--------------------------+------------------+------------------+
| | Shareholders' equity | | |
+----+--------------------------------------------------------------------+------------------+------------------+
| | | Capital stock | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 96,147 | 96,147 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | - | - |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 96,147 | 96,147 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Capital surplus | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 105,289 | 105,292 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Disposal of treasury stock | 2 | -5 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | 2 | -5 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 105,292 | 105,287 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Retained earnings | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 105,914 | 152,097 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Dividends from surplus | -4,010 | -4,009 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Net income/(loss) | 50,416 | -28,392 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | New inclusion of a subsidiary | -223 | -1,537 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | 46,183 | -33,939 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 152,097 | 118,159 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Treasury stock | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | -450 | -541 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Purchase of treasury stock | -99 | -67 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Disposal of treasury stock | 8 | 24 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | -91 | -43 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | -541 | -585 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Total shareholders' equity | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 306,900 | 352,995 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Dividends from surplus | -4,010 | -4,009 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Net income/(loss) | 50,416 | -28,392 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Purchase of treasury stock | -99 | -67 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Disposal of treasury stock | 10 | 19 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | New inclusion of a subsidiary | -223 | -1,537 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | 46,094 | -33,986 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 352,995 | 319,009 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | Valuation and translation adjustments | | |
+----+--------------------------------------------------------------------+------------------+------------------+
| | | Valuation difference on available-for-sale securities | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 25,881 | 9,194 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Net changes of items other than shareholders' | -16,687 | -6,855 |
| | | | | equity | | |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | -16,687 | -6,855 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 9,194 | 2,339 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Deferred gains or losses on hedges | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | -3,048 | -127 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Net changes of items other than shareholders' | 2,920 | -10,628 |
| | | | | equity | | |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | 2,920 | -10,628 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | -127 | -10,756 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Foreign currency translation adjustment | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 7,507 | -3,626 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Net changes of items other than shareholders' | -11,134 | -60,318 |
| | | | | equity | | |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | -11,134 | -60,318 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | -3,626 | -63,944 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Total valuation and translation adjustments | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Balance at the end of previous period | 30,340 | 5,439 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Changes of items during the period | | |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | | Net changes of items other than shareholders' | -24,901 | -77,801 |
| | | | | equity | | |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | | Total changes of items during the period | -24,901 | -77,801 |
+----+----+----+----+-----------------------------------------------------+------------------+------------------+
| | | | Balance at the end of current period | 5,439 | -72,361 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | Subscription rights to shares | | |
+----+--------------------------------------------------------------------+------------------+------------------+
| | | Balance at the end of previous period | 26 | 253 |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | Changes of items during the period | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Net changes of items other than shareholders' equity | 227 | 239 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Total changes of items during the period | 227 | 239 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Balance at the end of current period | 253 | 493 |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | Minority interests | | |
+----+--------------------------------------------------------------------+------------------+------------------+
| | | Balance at the end of previous period | 13,357 | 13,310 |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | Changes of items during the period | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Net changes of items other than shareholders' equity | -47 | -3,228 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Total changes of items during the period | -47 | -3,228 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Balance at the end of current period | 13,310 | 10,082 |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | Total net assets | | |
+----+--------------------------------------------------------------------+------------------+------------------+
| | | Balance at the end of previous period | 350,625 | 371,998 |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | Changes of items during the period | | |
+----+----+---------------------------------------------------------------+------------------+------------------+
| | | | Dividends from surplus | -4,010 | -4,009 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Net income/(loss) | 50,416 | -28,392 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Purchase of treasury stock | -99 | -67 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Disposal of treasury stock | 10 | 19 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | New inclusion of a subsidiary | -223 | -1,537 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Net changes of items other than shareholders' equity | -24,721 | -80,789 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | | Total changes of items during the period | 21,373 | -114,776 |
+----+----+----+----------------------------------------------------------+------------------+------------------+
| | | Balance at the end of current period | 371,998 | 257,223 |
+----+----+----+----+--------------------------+--------------------------+------------------+------------------+
(4) Cash flow statement
+-------------------------------------------------------------+--------------+--+--------------+--+
| | FY2008 | | FY2009 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| | JPY million | | JPY million | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Cash flows from operating activities: | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Income/(loss) before income taxes and minority interests | 62,258 | | (13,515) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Adjustments for: | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Depreciation and amortization (excluding goodwill) | 63,615 | | 57,772 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Amortization of goodwill | 10,330 | | 8,486 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Loss on impairment of fixed assets | 1,699 | | 9,899 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Allowance for doubtful debts | (236) | | (198) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Provision for bonuses | 124 | | - | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Accrued retirement benefits | 6,052 | | (16,682) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Provision for repairs | - | | 395 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| EC automotive glass provision | - | | (43,448) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| German minority interest provision | - | | 3,967 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Netherland fine provision | - | | 3,219 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Restructuring expenditure provision | - | | 13,296 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Gain)/loss on retirement of non current assets | - | | 483 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Gain)/loss on sale of investments in securities | (13,414) | | (7,662) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Gain)/loss on valuation of investment securities | - | | 1,388 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Gain)/loss on sale of discontinuing operations | (30,831) | | - | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Gain)/loss on sale of stocks of subsidiaries and | - | | (30,023) | |
| affiliates | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Profits from discontinued operations | - | | (1,585) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Interest and dividend income | (9,645) | | (8,258) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Interest expense | 25,497 | | 19,956 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Increase) decrease of note and account receivable | (4,023) | | 37,271 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| (Increase) decrease of inventories | (9,263) | | (9,971) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Increase (decrease) of note and account payable | 9,872 | | (30,290) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Other, net | (14,494) | | (6,820) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Sub total | 97,541 | | (12,321) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Interest and dividend income received | 12,927 | | 10,861 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Interest paid | (27,100) | | (19,518) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Income taxes paid | (33,974) | | (11,619) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Net cash provided by operating activities | 49,394 | | (32,597) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Cash flows from investing activities: | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Payments into time deposits | - | | (196) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Withdrawals from time deposits | - | | 994 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Purchase of investment securities | (49) | | (671) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Sales of investment securities | 15,463 | | 9,705 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Acquisition of investments in subsidiaries and | (7,231) | | (2,559) | |
| affiliates | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Sale of investments in subsidiaries and affiliates | 43 | | 42,639 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Proceeds from sale of discontinued operations | 66,105 | | - | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Purchase of non current assets | (46,636) | | - | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Purchase of property, plant and equipment | - | | (42,635) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Sales of property, plant and equipment | 3,965 | | 3,722 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Purchase of intangible assets | - | | (473) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Movement in short term loans receivable | - | | (6,727) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Payments of long term loans receivable | - | | (115) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Other, net | (2,190) | | (1,095) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Net cash provided by (used in) investing activities | 29,471 | | 2,589 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Cash flows from financing activities: | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Increase / (Decrease) in short-term borrowings | 1,385 | | (22,902) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Proceeds from long-term loan payable | 25,177 | | 98,160 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Repayment of long-term loan payable | (104,071) | | (65,858) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Repayment of finance lease obligations | - | | (3,847) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Proceeds from issuance of bonds | - | | 26,828 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Redemption of bonds | - | | (10,000) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Cash dividends paid | (4,026) | | (4,009) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Cash dividends paid to minority shareholders | - | | (2,465) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Other, net | (2,081) | | (68) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Net cash provided by (used in) financing activities | (83,616) | | 15,840 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Effect of foreign exchange rate on cash and cash | (13,101) | | (15,709) | |
| equivalents | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Net decrease in cash and cash equivalents | (17,852) | | (29,878) | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Opening cash and cash equivalents at 1 April | 159,762 | | 103,293 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Decrease due to change in scope of cash and cash | (38,711) | | - | |
| equivalents | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Increase due to change in scope of consolidation | 96 | | 2,182 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| Closing cash and cash equivalents at 31 March | 103,293 | | 75,598 | |
+-------------------------------------------------------------+--------------+--+--------------+--+
| | | | | |
+-------------------------------------------------------------+--------------+--+--------------+--+
End
This information is provided by RNS
The company news service from the London Stock Exchange
END
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