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This datum is based on the data as of June 30, 2011. The opinion and forecast described here is based on our judgment at that time and may possibly be changed without notice.
August 9, 2011
Results for the Three MonthsEnded June 30, 2011(Supplementary explanation)
2
Subject
1. Operating results for the three months ended
June 30, 2011
2. Forecast for FY ended March 2012
3. Acquisiton of 100% shares of STRAWBERRY CORPORATION
3
( Million yen, %)
1-1 Summary of Consolidated Financial Results for the Three Months Ended June 2011
FY20111Q
FY20121Q
Change
Amount Ratio
Net Sales 7,974 6,331 -1,643 -20.6%
Operating Income
216 115 -100 -46.4%
( Margin ) ( 2.7% ) ( 1.8% ) -0.9% -
Ordinary Income
141 -1 -143 -
( Margin ) ( 1.8% ) ( 0.0% ) -1.8% -
Net Income 164 -145 -309 -
( Margin ) ( 2.1% ) ( -2.3% ) -4.4% -
4
1-2 Highlight
◆Decrease in sales and income year on year Net sales decreased 20.6% . Operating income decreased 46.4% year on year because of decreased net sales and increased labor costs mainly in overseas. The ordinary loss amounted to \1 million and the net loss decreased to \145 million compared to the same period of
previous fiscal year.
◆Decrease in sales caused by earthquake and change of status of Motor business subsidiary to a company under equity method
Sales in Precision Springs and Plastics (mainly in OA equipment and automotive market) decreased both in domestic and overseas due to the impact of the earthquake. Due to exclusion of Motor business subsidiary, net sales was largely decreased compared to the same period the
previous fiscal year.
◆Downsizing of main business in Hinge was announced
After the announcement of downsizing of business for mobile phone market this April, net sales for the Hinge business were decreased. In addition, the continuation of partial production of unprofitable products led to a greater loss.
5
7,974
6,331
11/ 3 1Q期 12/ 3 1Q期
Mar/12 1 Q
(百万円)
-145
164
( Million yen )
115
216
Mar/12 1 QMar/11 1 Q
Mar/11 1 Q
Net Sales Operating Income
Net Income
( Million yen )
( Million yen )
Operating Income Margin(%) ( Million yen )
1.8
2.7
11/ 3期第1Q 12/ 3期第1Q
Mar/12 1 QMar/11 1 Q
1-3 Trend of Sales and Income (Consolidated)
Mar/11 1 Q Mar/12 1 Q
6
1-4 Quarterly Transition of Sales and Income
7,974 8,1857,648
6,331
7,651
1Q 2Q 3Q 4Q 1Q
-70
-235-145
-11
164
1Q 2Q 3Q 4Q 1Q
Operating Income/ Margin
Net Income
Mar/11 Mar/12
Mar/11 Mar/12
Mar/11 Mar/12
Net Sales ( Million yen )
( Million yen )
( Million yen )
0.1% 1.8%2.7% 2.0%2.2%
1Q 2Q 3Q 4Q 1Q
9115
177
149
216
1Q 2Q 3Q 4Q 1Q
7
Net Sales
Operating Income
1-5 Net Sales and Operating Income by Business Segment
1,036
0
3,507
2,727
704
3,343
570
2,417
0
1,500
3,000
4,500
6,000
- 219
31
252
0
362
36
-230
89
-250
-100
50
200
350
500
Precision Springs Hinges Motors
Precision Springs•Sales in the OA equipment and automotive markets were decreased due to the impact of the earthquake.•Though domestic earnings were improved due to the increase of profitable products, total earnings were decreased because of decreased sales and increased labor costs in overseas markets.Net sales: -4.7% Operating income: decrease of \ 110 million
Plastics ・ Sales to OA equipment and automotive markets were decreased due to the impact of the earthquake.・ Earnings were improved due to the shift to more profitable products in domestic markets and increase in product price and cost reduction in China.・ Net sales: -11.4% Operating income: decrease of \52 million
Hinges・ Net sales were decreased after the announcement of downsizing hinge business for mobile phone market this April・ The continuation of partial production of unprofitable products led to a greater loss .Net sales: -19.0% Operating income: decrease of \11 million
Motors(excluded from business segment)
・ As of the first quarter of this fiscal year , motor business segment is excluded because Motor business subsidiary, Fuji Micro Co., was changed consolidated subsidiary to equity method affiliate.
( Million Yen )Factors for change from the previous period
12/1Q11/1Q 12/1Q 11/1Q 11/1Q12/1Q 11/1Q 12/1Q
( Million Yen )
Precision Springs Hinges Motors
11/1Q11/1Q12/1Q 11/1Q 12/1Q 11/1Q 12/1Q 12/1Q
Plastics
Plastics
8
5,264
2,077
322 310
3,951
1,772
325 2810
4,000
8,000
6134 37
5733
124
0
-19-20
30
80
130
1-6 Net Sales and Operating Income by Geographical Segment
Operating Income
Net Sales
Japan Asia USA Europe
Japan Asia USA Europe
Japan・ Sales in Precision Springs and Plastics decreased due to the impact of the earthquake. Also sales decreased due to the downsizing of Hinge business and exclusion of Motor subsidiary.
・ Though in Precision Springs and Plastics earnings were improved due to the increase of profitable products, total loss was increased due to Hinge business.
・ Net sales: -24.9% Operating income: decrease of \19million
Overseas・ In Europe, sales and income were decreased due to decreased sales of Tangless Coilthread . In Asia , though earnings in Plastics were improved, sales and income in Precision Springs were decreased in China and Thailand affected by the earthquake in Japan. Net sales: -12.2% Operating income: decrease of \ 82 million
( Million Yen )
( Million Yen )
10/1Q 11/1Q 10/1Q 11/1Q 10/1Q 11/1Q 10/1Q 11/1Q
10/1Q 11/1Q 10/1Q 11/1Q 10/1Q 11/1Q 10/1Q 11/1Q
Factors for change from the previous period
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1-7 Net Sales by Market
( Million yen )
Mar/2012 Mar/2011 Change
1Q % 1Q % Amount %
OA equipment 1,95130.8
%2,306
28.9%
-355 -15.4%
Automotive 1,35421.4
%1,540
19.3%
-186 -12.1%
PC and PC related 548 8.7% 323 4.0% 255 69.8%
Household equipment 495 7.8% 97412.2
%-479 -49.2%
AV/ Home appliance 409 6.5% 576 7.2% -167 -29.0%
Mobile phone and related 382 6.0% 613 7.7% -231 -37.7%
Precision Components 311 4.9% 372 4.7% -61 -16.4%Medical and Healthcare equipment
194 3.1% 217 2.7% -23 -10.4%
Others 687 10.9%
1,054 13.2%
-368-34.9%
Total 6,331 100% 7,974 100% -1,643
-20.6%
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2 Forecast for FY ended March 2012 (Consolidated)
( Million yen )
FY ended March 2011 FY ended March 2012 Change
First Half Full year First Half Full year * First Half Full year
Net Sales16,15
931,45
912,500 26,000 -3,659 -5,459
Operating
Income393 552 150 850 -243 298
Operating
Income margin2.4% 1.8% 1.2% 3.2% -1.2% 1.4%
Ordinary
Income211 326 50 590 -161 264
Net Income 93 -152 -150 330 -243 482
* No revision has been made to the forecast at the moment.
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3 Acquisition of 100% shares of Strawberry Corporation
◆ Agreement for the Share Exchange made on Aug 9th, 2011. Strawberry Corporation will become a wholly-owned subsidiary of Advanex. Effective date of the Share Exchange is scheduled on November 1, 2011. Advanex will allocate 92 shares of common stock of Advanex to one share of Strawberry. The common stock of Strawberry will be delisted from JASDAQ Market on October 27, 2011.
◆Purpose of Making Strawberry Advanex’s Wholly-Owned Subsidiary through the Share Exchange
Strawberry was put in a state of asset deficiency and announced to downsize hinge sales to mobile phone handset market this April. As withdrawal from this business was much delayed, a greater loss will be forecasted in the future. To stop the damage to the Group from expanding further, by making Strawberry a wholly-owned subsidiary of Advanex, we will reduce cost by immediately integrating all the redundant functions of two companies and exercise flexible funding to support their business. In future, we will develop market such as automotive, housing related, and medical market and produce synergy effect with Advanex’s Precision Spring business.