Tosoh summary of_consolidated_results_fy2011
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    Tosoh summary of_consolidated_results_fy2011 Tosoh summary of_consolidated_results_fy2011 Document Transcript

    •  I. Consolidated Financial Results for Fiscal 2011 (April 1, 2010, to March 31, 2011)1. Business Results (Millions of yen, unless otherwise indicated) Net Sales Operating Income Ordinary Income Net IncomeFY2011 684,398 8.9% 33,531 157.0% 29,821 195.8% 10,014 45.3%FY2010 628,706 - 14.3% 13,047 — 10,080 — 6,890 —Note: Comprehensive income totaled ¥6,552 million (- 35.4%) in fiscal 2011, and ¥10,136 million (—%) in fiscal 2010. Undiluted Net Diluted Net Net Return on Ordinary Return Operating Income per Income per Net Assets on Total Assets Income Margin Share Share (percent) (percent) (percent) (yen) (yen)FY2011 16.74 16.71 6.1 4.1 4.9FY2010 11.51 11.50 4.3 1.3 2.1Note: Investment gain accounted for by the equity method totaled ¥1,741 million in fiscal 2011, and ¥1,264 million in fiscal 2010.2. Financial Position (Millions of yen, unless otherwise indicated) Ratio of Shareholders’ Net Assets per Share Total Assets Total Net Assets Equity to Total Assets (yen) (percent)FY2011 725,917 193,512 22.7 275.35FY2010 739,658 190,898 22.0 271.59Note: Ownership equity (net assets less stock - acquisition rights and minority interests) totaled ¥164,750 million at fiscal 2011 year-end and ¥162,500 million at fiscal 2010 year-end.3. Cash Flows (Millions of yen, unless otherwise indicated) Cash and Cash Cash Flows from Cash Flows from Cash Flows from Equivalents at Operating Activities Investing Activities Financing Activities End of YearFY2011 49,643 - 26,986 - 25,907 52,662FY2010 81,654 - 29,150 - 51,893 56,9153-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com 
    •  II. Dividends Dividend Dividend Dividends per Share (yen) Total Payout Payments Dividend Ratio as a First Third Payments (percent Percentage Interim Year-End Full Year Quarter Quarter of net of Net income) AssetsFY2010 — 3.00 — 3.00 6.00 3,596 52.1 2.3FY2011 — 3.00 — 3.00 6.00 3,596 35.9 2.2FY2012 — 3.00 — 3.00 6.00 15.6(forecast)III. Projected Operating Results for Fiscal 2012 (April 1, 2011, to March 31, 2012) (Millions of yen, percent change) Net Sales Operating Income Ordinary Income Net IncomeFirst Half 390,000 21.1 19,000 88.9 18,000 152.8 9,000 269.2Full Year 800,000 16.9 46,000 37.2 44,000 47.5 23,000 129.7IV. Other1. Material changes in scope of consolidation during the fiscal year: None2. Number of shares outstanding (common stock): Number of shares outstanding at end of year (including treasury stock): FY2011 601,161,912 shares FY2010 601,161,912 shares Number of shares of treasury stock at end of year: FY2011 2,828,274 shares FY2010 2,824,346 shares Average number of shares outstanding during fiscal year: FY2011 598,388,990 shares FY2010 598,490,858 shares3-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com 
    •  Consolidated Income StatementsTosoh Corporation and Consolidated Subsidiaries (Millions of yen) FY2011 FY2010 (April 1, 2010, to (April 1, 2009, to March 31, 2011) March 31, 2010)Net Sales 684,398 628,706Cost of Sales 552,613 517,754 Gross Profit 131,785 110,952Selling, General and Administrative Expenses 98,253 97,904 Operating Income 33,531 13,047Non-operating Income Interest 191 220 Dividends 655 535 Equity in Earnings of Affiliates 1,741 1,264 Rents 480 596 Licensing Fees 288 234 Subsidies — 1,351 Other 2,532 1,964 Total Non-operating Income 5,889 6,167Non-operating Expenses Interest 5,468 6,572 Foreign Exchange Losses 2,943 1,031 Other 1,188 1,529 Total Non-operating Expenses 9,599 9,134 Ordinary Income 29,821 10,080Extraordinary Income 172 83Extraordinary Loss 4,893 2,524Income before Income Taxes and Minority Interests 25,101 7,639Income Taxes Current 5,933 3,786 Deferred 8,199 (2,515) Total Income Taxes 14,133 1,271Minority Interests (loss) 952 (521)Net Income 10,014 6,8903-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com 
    •  Consolidated Balance SheetsTosoh Corporation and Consolidated Subsidiaries (Millions of yen) FY2011 FY2010 (March 31, 2011) (March 31, 2010)AssetsCurrent Assets Cash and Deposits 53,863 58,101 Trade Receivables 181,765 170,806 Finished Products 68,961 63,055 Work in Process 10,328 7,063 Raw Materials and Components 36,310 32,437 Deferred Tax Assets 7,593 10,952 Other Current Assets 13,950 12,949 Allowance for Doubtful Accounts (546) (648) Total Current Assets 372,226 354,718Fixed AssetsTangible Fixed Assets 276,963 302,749Intangible Fixed Assets 5,121 6,910Investments and Other Assets Investment Securities 37,506 40,375 Other Assets, Net 34,530 35,747 Allowance for Doubtful Accounts (430) (843) Total Fixed Assets 353,690 384,939 Total Assets 725,917 739,658Continues on next page.3-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com 
    •  Consolidated Balance SheetsTosoh Corporation and Consolidated Subsidiaries (Millions of yen) FY2011 FY2010 (March 31, 2011) (March 31, 2010)LiabilitiesCurrent Liabilities Trade Payables 96,113 86,969 Short-Term Borrowings 195,906 209,433 Current Portion of Bonds 16 16 Other Current Liabilities 40,393 45,882 Total Current Liabilities 332,428 342,301Long-Term Liabilities Long-Term Borrowings 168,210 178,022 Other Long-Term Liabilities 31,766 28,436 Total Long-Term Liabilities 199,976 206,458 Total Liabilities 532,405 548,760Shareholders’ Equity Common Stock 40,633 40,633 Capital Surplus 30,053 30,061 Retained Earnings 101,485 95,077 Treasury Stock (988) (1,030) Total Shareholders’ Equity 171,184 164,742 Accumulated Other Comprehensive Income Net Unrealized Gains on Securities 2,166 3,418 Deferred Losses on Hedges (4) (6) Land Revaluation Reserve 815 815 Foreign Currency Translation Adjustments (9,411) (6,469) Total Valuation and Translation Adjustments (6,433) (2,241) Stock Acquisition Rights 257 278 Minority Interests 28,504 28,119 Total Net Assets 193,512 190,898 Total Liabilities and Net Assets 725,917 739,6583-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com 
    •  Consolidated Statements of Cash FlowsTosoh Corporation and Consolidated Subsidiaries (Millions of yen) FY2011 FY2010 (April 1, 2010, to (April 1, 2009, to March 31, 2011) March 31, 2010)Cash Flows from Operating Activities:Income (Loss) before Income Taxes and Minority Interests 25,101 7,639 Adjustments to Reconcile Income before Income Taxes and Minority Interests to Net Cash Provided by Operating Activities: Depreciation and Amortization 50,316 51,983 Impairment Loss on Fixed Assets 794 — Decrease in Retirement and Severance Benefits (2,703) (1,637) Interest and Dividend Income (846) (756) Interest Expense 5,468 6,572 Foreign Exchange Gains, Net 71 (144) Equity in Gains of Affiliates (1,741) (1,264) Loss on Sales of Investment Securities — 14 Loss on Valuation of Investment Securities 1,102 — Gain on Disposal of Sales of Fixed Assets (25) (43) Loss on Disposal of Fixed Assets 765 825 Increase in Trade Receivables (13,148) (14,632) (Increase) Decrease in Inventories (15,256) 14,758 Increase in Trade Payables 10,898 15,890 Other, Net (3,341) 8,820 Subtotal 57,455 88,026 Interest and Dividends Received 2,158 1,549 Interest Paid (5,568) (6,717) Income Taxes Paid (4,402) (1,204)Net Cash Provided by Operating Activities 49,643 81,654Cash Flows from Investing Activities: Payments for Purchases of Fixed Assets (27,767) (29,092) Proceeds from Sales of Fixed Assets 451 429 Payments for Purchases of Investment Securities (118) (194) Proceeds from Sales or Redemption of Investment Securities 18 303 Payments for Extension of Long-Term Loans (2,552) (2,327) Proceeds from Collection of Long-Term Loans 3,061 2,997 Other, Net (79) (1,265)Net Cash Used in Investing Activities (26,986) (29,150)Cash Flows from Financing Activities: Net Decrease in Short-Term Borrowings (14,091) (10,600) Proceeds from Long-Term Borrowings 41,707 15,952 Repayments of Long-Term Borrowings (49,453) (53,782) Proceeds from Issuance of Corporate Bonds — 80 Payments for Redemption of Bonds (16) (8) Cash Dividends Paid (3,880) (3,383) Other, Net (173) (150)Net Cash Used in Financing Activities (25,907) (51,893)Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,002) 326Net Increase in Cash and Cash Equivalents (4,253) 936Cash and Cash Equivalents at Beginning of Year 56,915 55,912Increase in Cash and Cash Equivalents due to Mergers of Consolidated — 65 SubsidiariesCash and Cash Equivalents at End of Year 52,662 56,9153-8-2, Shiba, Minato-ku, Tokyo 105-8623, JapanTel: +81 (3) 5427 5118 Fax: +81 (3) 5427 5198michael.hoover@tosoh.com www.tosoh.com