Investor Relations IR Site Map Japanese
Stock Quote
Contact Us
Disclaimer
IR Events
Press Conference
<Consolidated Financial Results for the First Quarter Ended June 30, 2014>
Financial Material

Results for the Three Months Ended June 30, 2014
Financial Results
(Billions of Yen)
  FY2013 FY2014
1Q 1Q  
Change
(Y on Y)
Difference
(Y on Y)
Net Sales 607.9 619.7 +1.9% +11.8
Operating Income
(margin)
3.0
(0.5%)
4.6
(0.8%)
+55.0%

+1.6

Net Income
(margin)
-17.9
(-3.0%)
-1.7
(-0.3%)
-

+16.1

Consolidated financial results for the first quarter (April to June 2014) recorded net sales of 619.7 billion yen, up 1.9% compared with the same period last year, and operating income of 4.6 billion yen, up 55.0%. Net loss was 1.7 billion yen, improving significantly compared with the same period last year.
Sales by Product Group
(Billions of Yen)
Notes: 1. Sales of each product group include internal sales and transfer between segments (Product Business and Device Business).
2. Effective from the three months ended June 30, 2014, the "Solar Cells" product group was renamed as "Energy Solutions."
  FY2013 FY2014
1Q 1Q  
Change
(Y on Y)
Difference
(Y on Y)
  Digital Information Equipment 158.9 168.6 +6.1% +9.6
Health and Environmental Equipment 82.3 82.1 -0.3% -0.2
Energy Solutions 84.3 69.0 -18.1% -15.2
Business Solutions 77.6 79.2 +2.1% +1.6
Product Business 403.3 399.1 -1.0% -4.1
  LCDs 193.8 206.9 +6.8% +13.1
Electronic Devices 61.2 58.9 -3.8% -2.3
Device Business 255.0 265.9 +4.2% +10.8
Sub Total 658.3 665.0 +1.0% +6.6
Adjustments -50.4 -45.3 - +5.1
Total 607.9 619.7 +1.9% +11.8
Operating Income by Product Group
(Billions of Yen)
Notes: 1. The percentage figures noted in brackets show operating margin.
2. Effective from the three months ended June 30, 2014, the "Solar Cells" product group was renamed as "Energy Solutions."
FY2013 FY2014
1Q 1Q  
Change
(Y on Y)
Difference
(Y on Y)
  Digital Information Equipment -1.3
(-0.9%)
2.6
(1.6%)
-

+3.9

Health and Environmental Equipment 6.4
(7.8%)
3.1
(3.9%)
-50.7%

-3.2

Energy Solutions 6.8
(8.1%)
0.1
(0.3%)
-97.3%

-6.6

Business Solutions 7.5
(9.8%)
7.7
(9.8%)
+1.8%

+0.1

Product Business 19.4
(4.8%)
13.7
(3.4%)
-29.6%

-5.7

  LCDs -9.5
(-4.9%)
2.1
(1.0%)
-

+11.6

Electronic Devices 0.1
(0.2%)
-3.5
(-5.9%)
-

-3.6

Device Business -9.3
(-3.7%)
-1.3
(-0.5%)
-

+8.0

Sub Total 10.0
(1.5%)
12.3
(1.9%)
+22.1%

+2.2

Adjustments -7.0 -7.6 - -0.5
Total 3.0
(0.5%)
4.6
(0.8%)
+55.0%

+1.6

Looking at sales for the first quarter of fiscal 2014 by product group, there has been a significant decline in Energy Solutions, yet Digital Information Equipment, Business Solutions, and LCDs have helped bring about a total increase of 11.8 billion yen from the same period last year.
As for operating income, Electronic Devices put us in the red, but Digital Information Equipment and LCDs put us back in the black, resulting in an overall earnings increase of 1.6 billion yen from the same period last year.
Other Income (Expenses)
For the first quarter of fiscal 2014, based on the progress of immediate civil lawsuits for TFT LCDs, we have revised some of the provisions from previous years, and recorded “reversal of provision for loss on litigation” as other income. On the other hand, “settlement” for expenses related to structural reform of the thin-film solar cell business in Europe was recorded as other expenses.
Consolidated Balance Sheets
Due to seasonal influences, there was an increase in inventory and a decrease in cash and time deposits for the first quarter. Net assets was 209.0 billion yen, increasing 1.8 billion yen from the end of March 2014, and the equity ratio improved from 8.9% to 9.4%, due to factors such as a decrease in remeasurements of defined benefit plans.
Transition of Interest-bearing Debt
Interest-bearing debt was 1,092.1 billion yen at the end of June 2014, decreased 1.3 billion yen from the end of March 2014. The ratio vs. monthly sales has risen from 4.48 months to 5.29 months, due to sales decrease from seasonal fluctuations.
Net interest-bearing debt, which is interest-bearing debt minus cash and time deposits, increased from 713.9 billion yen to the 733.2 billion yen.
We will continue to work to optimize inventory and reduce noncurrent assets to cut back on interest-bearing debt.

NEXT

Past Press Conference

 
Top of Page