Report of Earnings and Financial Statements for the
Three Months Ended June 30, 2019 (Consolidated)
(Prepared pursuant to Japanese GAAP)
July 30, 2019
Listed company's name: | Kawasaki Heavy Industries, Ltd. |
Listed on: | 1st sections of the TSE, and NSE |
Stock code: | 7012 |
URL: | https://www.khi.co.jp/ |
Representative: | Yoshinori Kanehana, President |
Contact: | Tatsuo Hoshino, Senior Manager, Accounting Department |
Tel: | +81 3-3435-2130 |
Scheduled dates:
Submission of quarterly securities filing: Commencement of dividend payments:
Supplementary materials to quarterly earnings:
Quarterly earnings presentation:
August 6, 2019
-
Available
Conducted (for institutional investors, analysts and the press)
1. Consolidated Financial Results for the Three Months ended June 30, 2019
(April 1, 2019 - June 30, 2019)
(Amounts in millions of yen rounded down to the nearest million yen)
(1) Operating Results
(Percentage figures represent changes versus the year-ago period)
Net sales | Operating income | Recurring profit | Net income attributable | ||||||||
to owners of parent | |||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | ||||
Three Months Ended | 350,778 | 2.0 | 1,088 (84.6) | (4,391) | - | (8,249) | - | ||||
June 30, 2019 | |||||||||||
Three Months Ended | 343,785 | 2.5 | 7,103 | 44.6 | 8,550 | 57.3 | 2,561 | (21.8) | |||
June 30, 2018 | |||||||||||
Note: Comprehensive income: Three months ended June 30, 2019: | ¥(6,232) million | -% | |||||||||
Three months ended June 30, 2018: | ¥1,672 million | (46.5)% | |||||||||
Earnings per share | Earnings per share | ||||||||||
- diluted | |||||||||||
yen | yen | ||||||||||
Three Months Ended | (49.38) | - | |||||||||
June 30, 2019 | |||||||||||
Three Months Ended | 15.33 | - | |||||||||
June 30, 2018 | |||||||||||
(2) Financial Condition | |||||||||||
Total assets | Net assets | Equity ratio | |||||||||
million yen | million yen | % | |||||||||
June 30, 2019 | 1,911,544 | 474,712 | 24.0 | ||||||||
March 31, 2019 | 1,838,855 | 492,261 | 25.9 | ||||||||
Note: Shareholders' equity: June 30, 2019: | ¥459,144 million | ||||||||||
March 31, 2019: | ¥ 476,387 million |
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2. Dividends
Dividend per share | ||||||||||||
End of first | End of second | End of third | End of fiscal | |||||||||
Record date or term | quarter | quarter | quarter | year | Full year | |||||||
yen | yen | yen | yen | yen | ||||||||
Year ended | - | 35.00 | - | 35.00 | 70.00 | |||||||
March 31, 2019 | ||||||||||||
Year ending | - | |||||||||||
March 31, 2020 | ||||||||||||
Year ending March | 35.00 | - | 35.00 | 70.00 | ||||||||
31, 2020 (forecast) | ||||||||||||
Note: Revisions to the most recently announced dividend forecast: None |
3. Forecast of Consolidated Earnings for the Year Ending March 31, 2020
(April 1, 2019 - March 31, 2020) | |||||||||
(Percentage figures represent changes versus the year-ago period) | |||||||||
Net income | Earnings per | ||||||||
Net sales | Operating income | Recurring profit | attributable to owners | ||||||
of parent | share | ||||||||
million yen | % | million yen | % | million yen | % | million yen | % | yen | |
Full year | 1,700,000 | 6.6 | 72,000 | 12.4 | 61,000 | 61.1 | 38,000 | 38.4 | 227.48 |
Note: Revisions to the most recently announced earnings forecast: None
2
Notes
- Changes affecting the status of material subsidiaries (scope of consolidation): None
- Accounting procedures specific to preparation of quarterly consolidated financial statements: Yes
*For further details, see "2.Consolidated Financial Statements (3)Notes on financial statements" on page 14 in the Accompanying Materials.
- Changes in accounting policies, changes in accounting estimates, and correction of errors
- Changes in accounting policies in accord with revisions to accounting standards: Yes
- Changes in accounting policies other than (1): None
- Changes in accounting estimates: None
- Correction of errors: None
- Number of shares issued and outstanding (common stock)
- Number of shares issued as of period-end (including treasury stock)
June 30, 2019: | 167,080,532 shares |
March 31, 2019: | 167,080,532 shares |
(2) Number of shares held in treasury as of period-end
June 30, 2019: | 35,463 shares |
March 31, 2019: | 35,196 shares |
(3) Average number of shares during respective periods
June 30, 2019: | 167,045,137 shares |
June 30, 2018: | 167,047,117 shares |
The quarterly report of earnings and financial statements is exempted from quarterly review procedures based on the Financial Instruments and Exchange act.
Appropriate Use of Financial Forecasts and Other Important Matters
Forward-Looking Statements
These materials contain various forward-looking statements and other forecasts regarding performance and other matters. Such statements are based on information available at the time of their preparation, and do not mean that the Company promises to achieve these figures. Actual results may differ from those expressed or implied by forward-looking statements due to a range of factors. For assumptions underlying earnings forecasts and other information regarding the use of such forecasts, refer to "1. Qualitative Information and Financial Statements (3) Consolidated earnings outlook " on page 10 in the Accompanying Materials.
How to Obtain Supplementary Briefing Material on Quarterly Financial Results and Details of the Quarterly Financial Results Briefing
The Company plans to conduct a briefing for institutional investors, analysts and the press by conference call on Tuesday July 30, 2019, and to post the briefing material on quarterly financial results to be used for the briefing on TDnet and the Company's website simultaneously with the announcement of financial results.
3
Accompanying Materials - Contents
1. Qualitative Information and Financial Statements | 5 | |
(1) | Consolidated operating results | 5 |
(2) | Consolidated financial position | 10 |
(3) | Consolidated earnings outlook | 10 |
2. Consolidated Financial Statements | 11 | |
(1) | Consolidated balance sheets | 11 |
(2) | Consolidated statements of income and comprehensive income | 13 |
(3) | Notes on financial statements | 14 |
(Notes on the going-concern assumption) | 14 | |
(Notes on significant changes in the amount of shareholders' equity) | 14 | |
(Accounting procedures specific to preparation of quarterly consolidated financial statements) | 14 | |
(Changes in accounting policies) | 14 | |
(Related to consolidated statements of income) | 14 | |
(Segment information) | 15 | |
3. Supplementary Information | 15 | |
(1) | Consolidated cash flow statements (condensed) | 15 |
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1. Qualitative Information about Financial Statements
(1) Consolidated operating results
The global economy continues to grow at a moderate pace overall, but concerns are increasing about an economic downturn stemming from U.S.-China trade friction. Given the possibility of an intensification of U.S.-China trade frictions if future trade talks do not go well, and the remaining possibility of a U.K. exit from the EU without an agreement, there is a continued need to closely monitor the downward risks to the global economy.
The Japanese economy has been recovering modestly, due to the modest increasing of capital investment, the improvement in corporate earnings, and other factors. Although overall modest growth is expected to continue, it is necessary to continue to closely monitor foreign exchange trends and watch out for deterioration in corporate earnings caused by the economic policies, etc. of the United States and other countries.
Amid such an operating environment, the Group's orders received in the first three months of the fiscal year ending March 31, 2020, decreased versus the previous fiscal year, mainly in the Energy System & Plant Engineering segment. Net sales increased overall, due to an increase in the Aerospace Systems and other segments, despite a decline in the Energy System & Plant Engineering segment and Motorcycle & Engine segment. Operating income decreased overall, due to the deterioration in the Precision Machinery & Robot segment and Rolling Stock segment and other factors, despite the improvement in the Energy System & Plant Engineering segment and Motorcycle & Engine segment. Recurring profit and net income attributable to owners of parent fell into the red mainly owing to an increase in loss on foreign exchange.
As a result, the Group's consolidated orders received decreased ¥31.7 billion versus the same period of the previous fiscal year to ¥328.2 billion, consolidated net sales increased ¥6.9 billion year on year to ¥350.7 billion, operating income decreased ¥6.0 billion year on year to ¥1.0 billion, recurring loss deteriorated ¥12.9 billion year on year to ¥4.3 billion, and net loss attributable to owners of parent deteriorated ¥10.8 billion year on year to ¥8.2 billion.
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Kawasaki Heavy Industries Ltd. published this content on 30 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2019 07:20:03 UTC