The original disclosure in Japanese was released on January 22, 2016 at 15:15 (GMT+9). This is a summary translation of a press release made in Japanese for convenience only.
JAFCO Co., Ltd. (Ticker: 8595) Contact: Investor Relations 1-5-1 Otemachi, Chiyoda-ku Tel: +81-3-5223-7073
Tokyo 100-0004 Japan Fax: +81-3-5223-7561
http://www.jafco.co.jp ir@jafco.co.jp
January 22, 2016
[Japanese GAAP]
(Summary of Japanese announcement)
(Japanese yen figures less than a million yen are rounded down)
-
Consolidated Performance for the Nine Months Ended December 31, 2015 (April 1, 2015 - December 31, 2015)
-
Consolidated Operating Results
(figures with % indicate the rate of change from the same period of the previous fiscal year)
Net sales [¥ million] [%]
Operating income [¥ million] [%]
Ordinary income [¥ million] [%]
Profit attributable to JAFCO Co., Ltd.
stockholders [¥ million] [%]
For nine months ended December 31, 2015
34,304
(25.0)
18,613
(39.6)
19,446
(40.0)
15,581
(36.6)
For nine months ended December 31, 2014
45,769
43.6
30,821
63.4
32,384
63.0
24,592
100.2
Note: Comprehensive income Nine months ended December 31, 2015: ¥ 16,646 million ( negative 10.4%) Nine months ended December 31, 2014: ¥ 18,572 million ( negative 53.5%)
Profit per share [¥]
Fully diluted net income per share
[¥]
For nine months ended
351.19
-
December 31, 2015
For nine months ended
December 31, 2014
554.29
-
- Consolidated Financial Position
-
Dividends
Dividend per share [¥]
(Record date)
End of 1Q
End of 2Q
End of 3Q
End of the year
Total
For the year ended March 31, 2015
-
-
-
100.00
100.00
For the year ending March 31, 2016
-
-
-
For the year ending March 31, 2016 (Forecast)
-
-
Notes: The forecast of dividend amount is unfixed.
-
Business Forecasts (April 1, 2015 - March 31, 2016)
Volatility in stock markets and the IPO environment in Japan and overseas causes performance to fluctuate, as a result of which it is difficult to make meaningful forecasts in earnings. Therefore, instead of announcing projections, JAFCO makes timely disclosure of quarterly financial results.
*Other Information Changes in significant subsidiaries during this period: None
Adoption of specific accounting methods for the preparation of quarterly consolidated financial statements: None
Changes in accounting principles, accounting estimates and correction of prior period errors
① Changes in accounting principles due to revisions to accounting standards: Yes
② Changes in accounting principles other than ①: None
③ Changes in accounting estimates: None
④ Correction of prior period errors: None
Notes: Please refer to P 7, (3) Changes in accounting principles, accounting estimates and correction of prior errors of 2. Notes Regarding Other Information.
Number of issued shares (common stock)
Total assets [¥ million] | Net assets [¥ million] | Equity ratio [%] | Net assets per share [¥] | |
As of December 31, 2015 As of March 31, 2015 | 233,643 239,035 | 200,333 188,125 | 85.7 78.7 | 4,515.30 4,240.11 |
(Reference) Shareholders' equity As of December 31, 2015: ¥200,333 million
As of March 31, 2015: ¥188,125 million
① Number of issued shares (including treasury stock)
As of December 31, 2015: 48,294,336 As of March 31, 2015: 48,294,336
② Number of treasury stock
As of December 31, 2015: 3,926,478 As of March 31, 2015: 3,926,328
③ Average number of shares
For nine months ended December 31, 2015: 44,367,922
For nine months ended December 31, 2014: 44,368,247
*Disclosure regarding the implementation of audit procedures
This financial summary is not subject to the external auditor's quarterly review procedures required under the Financial Instruments and Exchange Act. At the time of the disclosure of this report, the quarterly review of consolidated financial statements pursuant to the Act had not been completed.
*Cautionary statements with respect to forward-looking statements and other notes(Access to the quarterly financial supplement materials)
The presentation material for the nine months ended December 31, 2015 was released on JAFCO's website on January 22, 2016.
*Note to XBRLPlease note that the names of the English accounts contained in XBRL data, which are available through EDINET and TDNet, may be different from those of the English accounts in our financial statements.
JAFCO posted net sales of ¥34,304 million, ordinary income of ¥19,446 million, and profit attributable to JAFCO Co., Ltd. stockholders of ¥15,581 million in the consolidated nine months ended December 31, 2015. This compares with net sales of ¥61,945 million, ordinary income of ¥40,132 million, and profit attributable to JAFCO Co., Ltd. stockholders of ¥27,707 million for the previous full year ended March 31, 2015 (the "previous full year").
(Outline of Investments)
The JAFCO Group and its funds made investments totaling ¥17,954 million (52 companies) in the nine months ended December 31, 2015, compared with ¥21,644 million (71 companies) in the previous full year. The breakdown is shown on page 17.
(Outline of Capital Gains and IPOs)
Of ¥26,668 million in revenues from operational investment securities (previous full year: ¥56,471 million), proceeds from the sale of securities excluding dividend and interest income on bonds totaled
¥25,427 million (previous full year: ¥55,862 million). Capital gains came to ¥13,242 million (previous full year: ¥33,957 million), out of which capital gains on listed shares were ¥9,416 million (previous full year: ¥31,747 million) and capital gains on unlisted shares were ¥3,825 million (previous full year:
¥2,210 million). This ¥3,825 million consisted of ¥7,034 million (previous full year: ¥9,695 million) in gains on sale and ¥3,208 million (previous full year: ¥7,485 million) in losses on sale.
There were seven IPOs in Japan and five overseas by investees of the JAFCO Group and its funds (previous full year: 21 IPOs in Japan and three overseas). The details are shown on page 17-20.
(Millions of Yen)
For the year ended March 31, 2015 (A) | For nine months ended December 31, 2014 | For nine months ended December 31, 2015 (B) | Annualized comparison [(B)/3×4]/(A) (%) | ||
Revenues from operational investment securities | 56,471 | 41,515 | 26,668 | 63.0 | |
Proceeds from sale of securities (1) | 55,862 | 40,989 | 25,427 | 60.7 | |
Dividend and interest income | 608 | 525 | 1,241 | 272.0 | |
Cost of operational investment securities | 21,904 | 15,574 | 12,185 | 74.2 | |
Cost of securities sold (2) | 21,904 | 15,574 | 12,185 | 74.2 | |
Impairment | - | - | - | - |
Capital gains (1) - (2) | 33,957 | 25,415 | 13,242 | 52.0 |
Capital gains on listed shares | 31,747 | 24,085 | 9,416 | 39.5 | |
Capital gains on unlisted shares | 2,210 | 1,330 | 3,825 | 230.8 | |
Capital gains | 9,695 | 7,868 | 7,034 | 96.7 | |
Capital losses | 7,485 | 6,537 | 3,208 | 57.2 |
(Outline of Investment Loss Reserves)
JAFCO makes investment loss reserves after taking investees' business performance into consideration. Company-by-company reserves are made if the estimated recovery amount falls below 70% of acquisition cost. General reserves are made to cover all other unlisted portfolio companies based on our accumulated expertise in private equity.
Additions to investment loss reserves for the nine months ended December 31, 2015 totaled ¥2,207 million, consisting of ¥2,286 million in company-by-company reserves and a reversal of ¥79 million in general reserves, compared with ¥3,443 million, ¥4,129 million and a reversal of ¥686 million respectively in the previous full year.
Company-by-company reserves were reversed by ¥2,735 million following the sale and impairment of securities in the nine months ended December 31, 2015, compared with ¥6,531 million reversed in the previous full year. As a result, net additions to investment loss reserves were negative ¥528 million, compared with negative ¥3,087 million in the previous full year.
Balance of investment loss reserves came to ¥15,239 million (28.1% of the balance of unlisted operational investment securities) as of December 31, 2015, compared with ¥15,757 million (27.5% of the balance of unlisted operational investment securities) at the end of the previous fiscal year.
(Millions of Yen)
For the year ended March 31, 2015 (A) | For nine months ended December 31, 2014 | For nine months ended December 31, 2015 (B) | Annualized comparison [(B)/3×4]/(A) (%) | ||
Additions to investment loss reserves (1) | 3,443 | 1,950 | 2,207 | 85.5 | |
Company-by-company reserves | 4,129 | 2,066 | 2,286 | 73.8 | |
(Reversal of) General reserves | (686) | (116) | (79) | - | |
Reversal of investment loss reserves (2) | 6,531 | 5,832 | 2,735 | 55.8 | |
Net additions = (1)-(2) (minus figures are reversals) | (3,087) | (3,881) | (528) | - |
(Millions of Yen)
As of March 31, 2015 | As of December 31, 2015 | ||
Balance of investment loss reserves | 15,757 | 15,239 | |
Company-by-company reserves | 12,143 | 11,704 | |
General reserves | 3,614 | 3,535 | |
Ratio for all unlisted operational investment securities | 27.5% | 28.1% |
JAFCO Co. Ltd. issued this content on 2016-01-22 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-22 06:29:07 UTC
Original Document: http://v4.eir-parts.net/v4Contents/View.aspx?cat=tdnet&sid=1318238