Morito Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended May 31, 2016; Provides Earnings Guidance for the Full Year Ending November 30, 2016; Announces Dividend for the Second Quarter Ended May 31, 2016, Payable on August 10, 2016; Forecasts Dividend for the Fiscal Year Ending November 30, 2016
July 10, 2016
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Morito Co., Ltd. announced unaudited consolidated earnings results for the second quarter ended May 31, 2016. For the quarter, the company reported, net sales of JPY 20,332 million compared to JPY 21,418 million a year ago. Operating income was JPY 706 million compared to JPY 874 million a year ago. Ordinary income was JPY 580 million compared to JPY 1,026 million a year ago. Net income was JPY 355 million or JPY 12.47 per share compared to JPY 516 million or JPY 17.83 per share a year ago. Net income before taxes and other adjustment was JPY 600,823,000 compared to JPY 951,025,000 a year ago. Net cash provided by operating activities was JPY 555,268,000 compared to JPY 799,085,000 a year ago. Purchase of tangible fixed assets was JPY 158,665,000 compared to JPY 325,465,000 a year ago.
The company provided earnings guidance for the full year ending November 30, 2016. For the year, the company expects net sales of JPY 41,000 million, operating income of JPY 1,600 million, ordinary profit of JPY 1,400 million and net income of JPY 1,000 million or JPY 35.11 per share.
The company announced dividend for the second quarter ended May 31, 2016 of JPY 8.00 per share compared to JPY 7.00 a year ago. The dividend is payable on August 10, 2016.
The company forecast dividend for the fiscal year ending November 30, 2016 is JPY 8.00 per share compared to JPY 7.50 a year ago.
MORITO CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of materials for daily living. Through its subsidiaries and associated company, the Company is engaged in the manufacture and sale of clothing materials, and living materials for transportation equipment, video equipment, stationery, office automation (OA) equipment and others, the retail of living-related products through home centers, department stores and retail stores, as well as the rental, sale and cleaning of kitchen equipment. The Company is also engaged in the operation of rental factory, and sale of automotive interior accessories and apparel accessories.
Morito Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended May 31, 2016; Provides Earnings Guidance for the Full Year Ending November 30, 2016; Announces Dividend for the Second Quarter Ended May 31, 2016, Payable on August 10, 2016; Forecasts Dividend for the Fiscal Year Ending November 30, 2016