02 18-13 fanuc results-q3

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02 18-13 fanuc results-q3

  1. 1. Consolidated Quarterly Financial Results (based on Japanese standards) For the nine months ended December 31, 2012 January 25, 2013Company name: FANUC CORPORATION Stock exchange listing: Tokyo Stock ExchangeStock code: 6954 URL http://www.fanuc.co.jpRepresentative: (Title) CEO and President (Name) Yoshiharu InabaContact: (Title) Member of the Board (Name) Yoshihiro Gonda Tel: (0555) 84-55551. Consolidated Financial Results for the Nine months Ended December 31, 2012 (April 1, 2012 – December 31, 2012) (1) Consolidated Results of Operations (% represents change from the corresponding previous nine months period) Nine months ended Net sales Operating income Ordinary income Net income December 31 Millions of yen % Millions of yen % Millions of yen % Millions of yen % 2012 385,099 (4.5) 146,253 (13.4) 151,563 (12.7) 95,180 (10.2) 2011 403,169 23.1 168,812 22.5 173,563 22.9 105,960 22.4Note: Comprehensive income April-December 2012 ¥107,824 million 25.0% April-December 2011 ¥86,263 million 31.7% Nine months ended Net income per Net income per December 31 share basic share diluted Yen Yen 2012 486.30 ─ 2011 541.32 ─ (2) Consolidated Financial Position Total assets Net assets Equity ratio Million of yen Million of yen % December 31, 2012 1,167,981 1,053,349 89.8 March 31, 2012 1,130,625 985,322 86.8 (Ref.) Equity: December 31, 2012 ¥1,048,772million March 31, 2012 ¥981,323 million2. Dividends Dividends per share June 30 Sept. 30 Dec. 31 Mar. 31 Full year (Year end) Yen Yen Yen Yen Yen 2011 - 113.76 - 99.01 212.77 2012 - 102.64 - 2012(forecast) - -Note: We have not changed the forecasts of dividends from the latest ones.Note: With regard to the forecasts of the year-end dividends for the year ending March 31, 2013, we expect to disclose them promptly after we become able to disclose them.3. Consolidated Financial Results Forecasts for the Year Ending March 31, 2013 (April 1, 2012 – March 31, 2013) (% represents change from the same period of the previous year.) Net Net sales Operating income Ordinary income Net income income per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % YenFiscal period 478,000 (11.2) 178,000 (19.8) 185,000 (19.1) 116,000 (16.4) 592.68Note: We have changed the forecasts of financial results from the latest ones.
  2. 2. 4. Notes (1) Important changes in scope of consolidation during the period (Changes in certain subsidiaries requiring changes in scope of consolidation) : No (2) Application of the accounting method specific to quarterly consolidated financial statements : No (3) Changes in accounting principles and accounting estimates, and revisions/restatements ① Changes associated with changes in accounting standards : No ② Changes in accounting principles other than ① : No ③ Changes in accounting estimates : No ④ Revisions/restatements : No (4) Number of shares outstanding(Common share) ① Number of shares outstanding at the end of the period(including treasury stocks) December 31, 2012 239,508,317 March 31, 2012 239,508,317 shares shares ② Number of treasury stocks December 31, 2012 43,791,053 March 31, 2012 43,779,591 shares shares ③ Average number of shares during the period April-December 2012 195,723,300 April-December 2011 195,741,451 shares shares* Status of quarterly review These quarterly financial results are not subject to the quarterly review based on the Financial Instruments and Exchange Law. The review process for the quarterly financial statements based on the Financial Instruments and Exchange Law has not completed at the time of the disclosure of these results.* Statements on the proper use of financial forecasts and other special notes Any forecasts described in this report are subject to uncertain factors such as supply and demand trends, industry competition, economic conditions, and others in major markets. Actual results may differ from these forecasts. With regard to the forecasts of the year-end dividends for the year ending March 31, 2013, we expect to disclose them promptly after we become able to disclose them.(Reference) Non-Consolidated Results of Operations for the Nine months Ended December 31, 2012 (April 1, 2012 – December 31, 2012) Nine months ended Net sales Operating income Ordinary income Net income December 31 Millions of yen % Millions of yen % Millions of yen % Millions of yen % 2012 324,396 (7.1) 132,783 (12.8) 142,534 (18.9) 91,929 (18.4) 2011 349,158 23.9 152,194 22.6 175,846 36.5 112,667 45.0 Non-Consolidated Financial Results Forecasts for the Year Ending March 31, 2013 (April 1, 2012 – March 31, 2013) Net sales Operating income Ordinary income Net income Millions of yen % Millions of yen % Millions of yen % Millions of yen % Fiscal period 401,000 (13.6) 159,000 (20.7) 169,000 (24.8) 109,000 (23.3)
  3. 3. Table of Contents of Accompanying Documents1. Results of Operations and Financial Position 2 (1) Result of Operations 2 (2) Financial Position 2 (3) Financial Results Forecasts 22. Consolidated Quarterly Balance Sheet 33. Consolidated Quarterly Statement of Income And Consolidated Quarterly Statement of Comprehensive Income Consolidated Statement of Income 4 Consolidated Statement of Comprehensive Income 54. Other Information 6 (1) Important changes in scope of consolidation during the period 6 (2) Application of the accounting method specific to quarterly consolidated financial statements 6 (3) Changes in accounting principles and accounting estimate, and revisions/restatements 6 (4) Note on premise of a going concern 6 (5) Note on the substantial change in the shareholders’ equity 6Supplement to Consolidated Financial Results 7 1
  4. 4. 1. Results of Operations and Financial Position (1) Result of Operations During the nine months from April to December 2012, the economic situation surrounding FANUC was extremely tough due to the downturn in the European market triggered by the European debt problem, the stagnation in the Chinese market caused by the sharply tightened credit, the export competitiveness weakened by the historically superstrong yen, and so on. Under these circumstances, FANUC made efforts to enhance intelligence and ultra precision of its products and robotization of its manufacture further to improve their competitiveness. As a result, at the end of the third quarter of the current fiscal year, FANUC posted consolidated net sales totaling ¥385,099 million, down 4.5%, consolidated ordinary income totaling ¥151,563 million, down 12.7%, and consolidated net income totaling ¥95,180 million, down 10.2%, compared with the corresponding period of the previous fiscal year. Looking at the performance by business group, the FA Group posted consolidated sales totaling ¥150,657 million, down 27.6%, the Robot Group posted consolidated sales totaling ¥86,223 million, up 0.3% and the Robomachine Group posted consolidated sales totaling ¥148,219 million, up 36.0%, compared with the corresponding period of the previous fiscal year. (2) Financial Position Total asset increased ¥37,356 million to ¥1,167,981 million compared with the end of the previous fiscal year. The main increase is ¥37,351 million in cash and deposits, and decrease is ¥11,771 million in notes and accounts receivable - trade. Total liabilities decreased ¥30,671 million to ¥114,632 million compared with the end of the previous fiscal year. Total net assets increased ¥68,027 million to ¥1,053,349 million from the end of the previous fiscal year. This increase was mainly attributed to the increase in retained earnings. (3) Financial Results Forecasts The economic situation surrounding FANUC is tough due to the downturn in the European market triggered by the European debt problem, the stagnation in the Chinese market caused by the sharply tightened credit, the export competitiveness weakened by the historically superstrong yen, the deterioration in IT-related business investment, and so on. Based on these situations, we revised the consolidated and non-consolidated financial results forecasts for the year ending March 31, 2013 as follows: (Consolidated) Net sales ¥478.0 billion Operating income ¥178.0 billion Ordinary income ¥185.0 billion Net income ¥116.0 billion (Non-consolidated) Net sales ¥401.0 billion Operating income ¥159.0 billion Ordinary income ¥169.0 billion Net income ¥109.0 billion Note: These forecasts assume average exchange rates between January 1, 2013 and March 31, 2013 of 85 yen to the US dollar and 115 yen to the euro.* Statements on the proper use of financial forecasts and other special notes Any forecasts described in this report are subject to uncertain factors such as supply and demand trends, industry competition, economic conditions, and others in major markets. Actual results may differ from these forecasts. With regard to the forecasts of the year-end dividends for the year ending March 31, 2013, we expect to disclose them promptly after we become able to disclose them. 2
  5. 5. 2. Consolidated Quarterly Balance Sheet (Millions of Yen) March 31, 2012 December 31, 2012 Assets Current assets: Cash and deposits 637,076 674,427 Notes and accounts receivable – trade 98,717 86,946 Merchandise and finished goods 41,874 40,520 Work in process 34,058 30,705 Raw materials and supplies 10,667 8,550 Deferred income tax 19,822 17,071 Others 8,191 7,401 Allowance for doubtful accounts (1,736) (1,577) Total current assets 848,669 864,043 Noncurrent assets Property, plant and equipment Land 114,779 116,065 Other, net 120,984 143,060 Total property, plant 235,763 259,125 and equipment Intangible Assets Goodwill 12,326 9,149 Other 432 460 Total Intangible assets 12,758 9,609 Investments and other assets Investment securities 26,635 27,292 Others 7,446 7,914 Allowance for doubtful accounts (646) (2) Total investments and other assets 33,435 35,204 Total noncurrent assets 281,956 303,938 Total Assets 1,130,625 1,167,981 Liabilities Current liabilities: Notes and accounts payable – trade 30,196 24,150 Income taxes payable 50,155 16,788 Warranty reserves 4,590 4,752 Others 30,329 37,649 Total current liabilities 115,270 83,339 Noncurrent liabilities: Allowance for employees’ retirement 26,499 27,663 benefits Others 3,534 3,630 Total noncurrent liabilities 30,033 31,293 Total Liabilities 145,303 114,632 Net Assets Shareholders’ equity Capital stock 69,014 69,014 Capital surplus 96,265 96,267 Retained earnings 1,180,556 1,236,268 Treasury stocks (311,394) (311,552) Total shareholders’ equity 1,034,441 1,089,997 Accumulated other comprehensive income(loss) Valuation difference on available-for-sale 1,959 1,694 securities Foreign currency exchange adjustment (55,077) (42,919) Total accumulated other comprehensive (53,118) (41,225) income(loss) Minority interests 3,999 4,577 Total net assets 985,322 1,053,349 Total liabilities and net assets 1,130,625 1,167,981 3
  6. 6. 3. Consolidated Quarterly Statement of Income and Consolidated Quarterly Statement of Comprehensive IncomeConsolidated Statement of Income for the Nine months from April to December 2012 (Millions of Yen) Nine months ended December 31 2011 2012 Net sales 403,169 385,099 Cost of goods sold 193,128 197,613 Gross profit 210,041 187,486 Selling, general and administrative expenses 41,229 41,233 Operating income 168,812 146,253 Non-operating income Interest income 1,456 1,422 Dividend income 585 785 Equity method income 2,941 2,287 Miscellaneous income 1,413 1,261 Total non-operating income 6,395 5,755 Non-operating expenses Foreign exchange losses 1,141 126 Miscellaneous expenses 503 319 Total non-operating expenses 1,644 445 Ordinary income 173,563 151,563 Income before income taxes and 173,563 151,563 minority interests Income taxes-current 68,265 53,813 Income taxes-deferred (1,147) 2,192 Total taxes and others 67,118 56,005 Income before minority interests 106,445 95,558 Minority interests in income 485 378 Net income 105,960 95,180 4
  7. 7. Consolidated Statement of Comprehensive Income for the Nine months from April to December 2012 (Millions of Yen) Nine months ended December 31 2011 2012 Income before minority interests 106,445 95,558 Other Comprehensive Income Valuation difference on (914) (266) available-for-sale securities Foreign currency translation adjustment (18,947) 12,700 Share of other comprehensive income of (321) (168) affiliates accounted for using equity method Total other comprehensive income (20,182) 12,266 Comprehensive income for the nine months 86,263 107,824 ended December 31 Comprehensive income attributable to: Owners of parent 86,093 107,074 Minority interests 170 750 5
  8. 8. 4. Other Information (1) Important changes in scope of consolidation during the period: No (2) Application of the accounting method specific to quarterly consolidated financial statements: No (3) Changes in accounting principles and accounting estimate, and revisions/restatements : No (4) Note on premise of a going concern: No (5) Note on the substantial change in the shareholders’ equity: No 6
  9. 9. Supplement to Consolidated Financial Results1 Consolidated Results(April~December, 2012) 1)Net income 95.2 billion yen (0.9 times from the same period of last year) 2)Net sales 385.1 billion yen (1.0 time from the same period of last year) 3)Operating income 146.3 billion yen (0.9 times from the same period of last year) Ordinary income 151.6 billion yen (0.9 times from the same period of last year) Ordinary income to net sales ratio 39.4% 4)Sales by Group FA 150.7 billion yen (0.7 times from the same period of last year) Robot 86.2 billion yen (1.0 time from the same period of last year) Robomachine 148.2 billion yen (1.4 times from the same period of last year) 5)Orders 368.9 billion yen (0.9 times from the same period of last year)2 Quarterly Changes of Consolidated Financial Results (Billions of yen) Sales 1,500 150.0 1,378 137.8 1,258 125.8 1,215 121.5 Ordinary income 1,000 100.0 Net income 555 55.5 496 49.6 465 46.5 500 50.0 352 35.2 318 31.8 282 28.2 0 平成24年 April-June 平成24年 July-September 平成24年 October-December 2012 4~6月 2012 7~9月 2012 10~12月 7

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