EREX Co.,Ltd. Announces Consolidated Financial Results for the Six Months Ended September 30, 2017; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2018; Provides Dividend Guidance for the Year Ending March 31, 2018
November 31, 2017
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eREX Co. Ltd. announced consolidated financial results for the six months ended September 30, 2017. For the period, the company reported net sales of JPY 21,950 million compared to JPY 13,965 million a year ago. Operating profit was JPY 2,455 million compared to JPY 1,461 million a year ago. Ordinary profit was JPY 2,317 million compared to JPY 1,417 million a year ago. Profit attributable to owners of parent was JPY 1,401 million compared to JPY 1,012 million a year ago. Diluted earnings per share was JPY 27.54 compared to JPY 20.01 a year ago. Profit before income tax was JPY 2,317 million compared to JPY 1,417 million a year ago. Net cash provided by operating actives was JPY 4,903 million compared to JPY 596 million a year ago. Purchase of property plant and equipment was JPY 869 million compared to JPY 6,642 million a year ago. Purchase of intangible assets was JPY 70 million compared to JPY 111 million a year ago.
For the year March 31, 2018, the company expected net sales of JPY 50,345 million. Operating profit of JPY 4,492 million. Ordinary profit of JPY 4,512 million. Profit attributable to owners of parent of JPY 3,020 million. Earnings per share of JPY 60.06.
The company provided dividend guidance of JPY 10 per share for the year ending March 31, 2018 compared to JPY 10 per share a year go.
Erex Co Ltd is a Japan-based company mainly engaged in the integration and promotion of fuel business, power generation business, trading business, and power retail business, with renewable energy as its core. The electricity retail business sells electricity to corporate and individual consumers nationwide from Hokkaido to Okinawa. The power generation business owns four biomass power plants in Saiki, Buzen, Ofunato, and Okinawa. The fuel business aims to utilize unused wood residues, rice husks, and other biomass fuels and strengthens external sales. The trading business works to procure stable and price-competitive electricity by combining procurement from wholesale electricity exchanges and other sources. The trading business also engages in electricity-related trading operations to reduce the risk of fluctuations in electricity market prices. The overseas business promotes the expansion of renewable energy businesses in Asian countries.
EREX Co.,Ltd. Announces Consolidated Financial Results for the Six Months Ended September 30, 2017; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2018; Provides Dividend Guidance for the Year Ending March 31, 2018