09 01-12 dowa results-q1

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09 01-12 dowa results-q1

  1. 1. Consolidated Financial Summary for the First Quarter of the Fiscal Year Ending March 31, 2013 (Unaudited) (Japan Basis) August 08 2012 Company name: Dowa Holdings Co., Ltd. URL: http://www.dowa.co.jp/ Exchange: First Section of Tokyo Stock Exchange, First Section of Osaka Securities Exchange, First Section of Nagoya Stock Exchange, Fukuoka Stock Exchange, and Sapporo Securities Exchange Stock code: 5714 Representative: Masao Yamada, President and Representative Director Scheduled date of submission: August 13, 2012 Scheduled date of commencement of dividend payments: ― 1. Consolidated business results for the first quarter of the fiscal year ending March 31, 2013 (April 1, 2012 – June 30, 2012) (Amounts less than one million yen, except for per share amounts, are omitted.) (1) Consolidated financial results (%: Change from the same period of the previous year) Net sales Operating income Ordinary income Net income Millions of Yen % Millions of Yen % Millions of Yen % Millions of Yen % Quarter ended June 30, 2012 98,397 5.5 8,215 68.0 8,695 121.4 5,596 315.2 Quarter ended June 30, 2011 93,270 (1.4) 4,891 (51.5) 3,928 (63.1) 1,347 (79.3)(Notes)Comprehensive income Quarter ended June 30, 2012 4,954 million yen 129.1 % Quarter ended June 30, 2011 2,162 million yen (63.7) % Net income per share Net income per share (fully diluted) Yen Yen Quarter ended June 30, 2012 18.91 ― Quarter ended June 30, 2011 4.56 ― (2) Consolidated financial position Total assets Net assets Equity ratio Millions of Yen Millions of Yen % As of June 30, 2012 312,140 124,201 37.1 As of March 31, 2012 319,665 121,807 35.6 (Reference) Shareholders’ equity: As of June 30, 2012: 115,768 million yen As of March 31, 2012: 113,808 million yen 2. Dividends Annual Dividends End of End of End of (Record date) Year-end Annual first quarter second quarter third quarter Yen Yen Yen Yen Yen Fiscal year ended March 31, 2012 ― ― ― 10.00 10.00 Fiscal year ending March 31, 2013 ― Fiscal year ending March 31, 2013 ― ― 10.00 10.00 (forecast) (Note) Revisions of expected dividends in the first quarter : None 3. Forecast consolidated results for the fiscal year ending March 31, 2013 (April 1, 2012 – March 31, 2013) (%: Change from the same period of the previous year)   Net sales Operating income Ordinary income Net income Net income per share Millions of Yen % Millions of Yen % Millions of Yen % Millions of Yen % Yen First half 204,000 8.0 11,000 1.6 11,500 16.9 7,000 46.9 23.65 Full year 430,000 9.6 23,000 4.5 24,000 14.7 12,000 13.1 40.55 (Note) Revisions of estimated consolidated results in the first quarter: Have -1-
  2. 2. 4. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets (Unaudited)First Quarter (Millions of Yen) As of end of previous fiscal year As of end of First quarter (March 31, 2012) (June 30, 2012)Assets Current assets  Cash and deposits 4,824 6,052  Notes and accounts receivable-trade 59,394 61,370  Merchandise and finished goods 20,275 20,697  Work in process 4,291 6,267  Raw materials and supplies 48,213 37,692  Deferred tax assets 4,170 2,406  Other 9,878 11,313  Allowance for doubtful accounts (231) (82)  Total current assets 150,816 145,718 Noncurrent assets  Property, plant and equipment   Buildings and structures 91,754 93,901    Accumulated depreciation (49,702) (51,142)    Buildings and structures, net 42,052 42,758   Machinery, equipment and vehicles 193,572 198,831    Accumulated depreciation (161,730) (166,762)    Machinery, equipment and vehicles, net 31,842 32,069   Land 22,064 22,308   Construction in progress 2,645 3,302   Other 12,516 12,828    Accumulated depreciation (10,344) (10,535)    Other, net 2,171 2,292   Total property, plant and equipment 100,775 102,731  Intangible assets   Goodwill 6,003 7,403   Other 2,553 2,812   Total intangible assets 8,557 10,215  Investments and other assets   Investment securities 52,429 45,632   Long-term loans receivable 167 159   Deferred tax assets 4,682 5,433   Other 2,369 2,382   Allowance for doubtful accounts (133) (133)   Total investments and other assets 59,515 53,474  Total noncurrent assets 168,848 166,421 Total assets 319,665 312,140Note:Amounts less than one million yen are omitted. -2-
  3. 3. (Millions of Yen) As of end of previous fiscal year As of end of First quarter (March 31, 2012) (June 30, 2012)Liabilities Current liabilities  Notes and accounts payable-trade 34,886 29,509  Short-term loans payable 46,741 50,690  Income taxes payable 2,159 1,094  Accrued consumption taxes 744 1,118  Deferred tax liabilities ― 192  Provision   Provision for bonuses 2,924 1,567   Provision for directors bonuses 154 3   Total provisions 3,078 1,571  Other 21,661 18,717  Total current liabilities 109,271 102,895 Noncurrent liabilities  Bonds payable 10,000 10,000  Long-term loans payable 60,928 57,155  Deferred tax liabilities 1,743 1,609  Provision   Provision for retirement benefits 10,519 10,752   Provision for directors retirement benefits 541 562   Other provision 470 470   Total provisions 11,531 11,785  Other 4,382 4,491  Total noncurrent liabilities 88,586 85,043 Total liabilities 197,858 187,938Net assets Shareholders equity  Capital stock 36,437 36,437  Capital surplus 26,362 26,362  Retained earnings 55,737 58,518  Treasury stock (5,686) (5,686)  Total shareholders equity 112,850 115,631 Accumulated other comprehensive income  Valuation difference on available-for-sale securities 4,390 2,429  Deferred gains or losses on hedges (179) 294  Foreign currency translation adjustment (3,252) (2,587)  Total accumulated other comprehensive income 957 136 Minority interests 7,999 8,433 Total net assets 121,807 124,201Total liabilities and net assets 319,665 312,140Note:Amounts less than one million yen are omitted. -3-
  4. 4. (2) Quarterly Consolidated Statements of Income (Unaudited)First Quarter (Millions of Yen) First quarter of the First quarter of the previous fiscal year current fiscal year (From April 1, 2011 (From April 1, 2012 to June 30, 2011) to June 30, 2012)Net sales 93,270 98,397Cost of sales 81,682 82,866Gross profit 11,587 15,531Selling, general and administrative expenses Freightage related expenses 684 866 Sales commission 117 179 Directors compensations 375 353 Salaries and allowances 1,180 1,281 Welfare expenses 394 401 Provision for bonuses 433 436 Retirement benefit expenses 107 149 Provision for directors retirement benefits 42 42 Rent expenses 180 177 Taxes and dues 225 213 Traveling and transportation expenses 313 362 Depreciation 172 170 Development and research expenses 1,114 1,102 Amortization of goodwill 125 123 Other 1,227 1,456 Total selling, general and administrative expenses 6,696 7,315Operating income 4,891 8,215Non-operating income Interest income 29 26 Dividends income 323 264 Equity in earnings of affiliates ― 487 Other 559 729 Total non-operating income 911 1,508Non-operating expenses Interest expenses 510 441 Foreign exchange losses 105 148 Equity in losses of affiliates 911 ― Other 347 437 Total non-operating expenses 1,874 1,027Ordinary income 3,928 8,695Note:Amounts less than one million yen are omitted. -4-
  5. 5. (Millions of Yen) First quarter of the First quarter of the previous fiscal year current fiscal year (From April 1, 2011 (From April 1, 2012 to June 30, 2011) to June 30, 2012)Extraordinary income Gain on sales of noncurrent assets 6 46 Subsidy 342 ― Other 42 0 Total extraordinary income 391 47Extraordinary loss Loss on valuation of investment securities ― 253 Loss on disaster 607 62 Loss on retirement of noncurrent assets 166 52 Loss on sales of noncurrent assets 3 1 Impairment loss 25 ― Environmental expenses 12 ― Other 269 17 Total extraordinary losses 1,084 387Income before income taxes and minority interests 3,235 8,355Income taxes-current 631 1,044Income taxes-deferred 1,131 1,575Total income taxes 1,763 2,620Income before minority interests 1,471 5,735Minority interests in income 123 138Net income 1,347 5,596Note:Amounts less than one million yen are omitted. -5-
  6. 6. (3) Consolidated Statement of Comprehensive Income (Unaudited) (Millions of Yen) First quarter of the First quarter of the previous fiscal year current fiscal year (From April 1, 2011 (From April 1, 2012 to June 30, 2011) to June 30, 2012)Income before minority interests 1,471 5,735Other comprehensive income Valuation difference on available-for-sale securities (1,191) (2,122) Deferred gains or losses on hedges 1,457 477 Foreign currency translation adjustment 37 68 Share of other comprehensive income of associates 387 795 accounted for using equity method Total other comprehensive income 691 (780)Comprehensive income 2,162 4,954Comprehensive income attributable to Comprehensive income attributable to owners of the parent 2,036 4,775 Comprehensive income attributable to minority interests 126 179 -6-
  7. 7. 5.Segment Information Segment information by business type as of June 30, 2012 and 2011 is summarized as follows : (Amounts less than one million yen and one thousand USD are omitted.) First quarter of the current fiscal year (From April 1, 2012 to June 30, 2012 Millions of Yen Reporting Segments Eliminations Environmental Nonferrous Electronic Metal Heat Sub Others Total & Company- Consolidated Management Metals Materials Processing Treatment Total wide & recycling Net sales (1) Outside customers 14,067 40,203 18,809 19,180 5,785 98,046 350 98,397 - 98,397 (2) Intersegment 8,575 6,540 532 4 0 15,652 1,656 17,308 ( 17,308) - Total 22,643 46,743 19,341 19,185 5,785 113,699 2,006 115,706 ( 17,308) 98,397 Segment income (note 2) 1,291 2,509 2,140 1,536 512 7,989 647 8,637 ( 422) 8,215 First quarter of the previous fiscal year (From April 1, 2011 to June 30, 2011 Millions of Yen Reporting Segments Eliminations Environmental Nonferrous Electronic Metal Heat Sub Others Total & Company- Consolidated Management Metals Materials Processing Treatment Total wide & recycling Net sales (1) Outside customers 13,147 33,013 23,740 18,858 4,295 93,056 214 93,270 - 93,270 (2) Intersegment 8,883 3,827 1,045 11 0 13,768 1,564 15,332 ( 15,332) - Total 22,030 36,841 24,786 18,870 4,295 106,824 1,779 108,603 ( 15,332) 93,270 Segment income (note 2) 958 1,172 1,553 808 250 4,744 ( 32) 4,711 179 4,891 First quarter of the current fiscal year (From April 1, 2012 to June 30, 2012 Thousands of USD (Note3) Reporting Segments Eliminations Environmental Nonferrous Electronic Metal Heat Sub Others Total & Company- Consolidated Management Metals Materials Processing Treatment Total wide & recycling Net sales (1) Outside customers 177,378 506,917 237,159 241,847 72,943 1,236,246 4,422 1,240,668 - 1,240,668 (2) Intersegment 108,125 82,465 6,711 54 1 197,358 20,881 218,240 ( 218,240) - Total 285,504 589,383 243,871 241,901 72,944 1,433,604 25,304 1,458,908 ( 218,240) 1,240,668 Segment income (note 2) 16,281 31,640 26,984 19,370 6,465 100,741 8,165 108,907 ( 5,322) 103,584(Note 1) The classification of businesses for the segment information by business typ is based on the classification adopted by the internal management system. (1) Environmental Management & Recycling : Waste treatment, soil remediation, metal recycling, and freight transport (2) Nonferrous Metals : Production and sale of copper, zinc, lead, gold, silver, platinum, palladium, rhodium, cadmium, bismuth and sulfuric ac (3) Electronic Materials : Magnetic materials, semiconductor materials, inorganic materials, chemical products (4) Metal Processing : Copper strips, brass strips, copper alloy strips, brass bars, and precision processed products (5) Heat Treatment : Heat treatment, surface treatment, and surface modification treatment, and the design, manufacture, sale and maintenance of facilities for heat treatment (6) Others : Construction, rental business and others(Note 2) Segment income is based on operating income(Note 3) Converted at ¥79.31=US$1, the prevailing exchange rate as of June 30, 2012 is used -7-

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