Hitachi Zosen Fukui : FY2015 - Full Period (2016.5.11)

510a53f8-bdb1-44b5-bf12-1ead7b93db04.pdf

May 11, 2016

Hitachi Zosen Fukui Corporation

Code number: 6163, Tokyo Stock Exchange, JASDAQ Representative: Seiichi Soda, President

Contact Person: Toshiyuki Itoh, General Manager of Corporate Planning & General Affairs Dept.

Tel:[phone]

Consolidated Financial Statements for FY2015 (April 1, 2015 - March 31, 2016)

1. Business Results and Financial Positions for FY2015

2. Business Results

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   million yen	%	million yen	%	million yen	%	million yen	%
   FY2015	23,614	1:: 1.8	2,829	1.7	2,767	1.9	1,881	5.9
   FY2014	24,045	1:: 5.6	2,781	1:: 2.4	2,715	1:: 3.0	1,776	1:: 2.8

   (Note) Comprehensive income: FY2015 1,792million yen

   FY2014 1,884 million yen

   Net income per share	Net income per share, diluted	Return on equity	Ordinary income to total assets	Operating income to net sales
   (yen)	(yen)	%	%	%
   FY2015	190.99	-	15.1	11.1	12.0
   FY2014	180.35	-	16.0	11.2	11.6

3. Consolidated Financial Positions

   Total assets	Net assets	Ratio of Shareholders' equity	Net assets per share
   million yen	million yen	%	yen
   As of March 31, 2016	25,982	13,141	50.6	1,334.18
   As of March 31, 2015	23,883	11,743	49,2	1,192.22

   (Note) Shareholders' equity (consolidated);

   As of March 31, 2016 13,141 million yen

   As of March 31, 2015 11,743 million yen

4. Consolidated Cash Flows

Operating activities	Investing activities	Financial actvitities	Cash and Cash equivalents at the end of period
(million yen)	(million yen)	(million yen)	(million yen)
FY2015	2,682	1:: 998	1:: 399	9,576
FY2014	1,235	1:: 357	1:: 398	8,281

5. Dividend

   Dividend per share					Yearly amount of dividend payment	Dividend payout ratio (Consolidated)	Dividend to net assets ratio (Consolidated)
   As of June 30	As of September 30	As of December 31	As of March 31	Total
   Yen	Yen	Yen	Yen	Yen	(million yen)	%	%
   FY2014	-	0.00	-	40.00	40.00	393	22.2	3.6
   FY2015	-	0.00	-	45.00	45.00	443	23.6	3.6
   FY2016 (forecast)	-	0.00	-	45.00	45.00	25.2

6. Forecast of Consolidated Business Results for FY2016 ( April 1, 2016 - March 31, 2017 )

Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Net income per share
(million yen)	%	(million yen)	%	(million yen)	%	(million yen)	%	(yen)
6 months of FY2016	12,500	5.0	1,370	1:: 12.0	1,400	1:: 6.2	950	1:: 5.3	96.45
FY2016	23,000	1:: 2.6	2,520	1:: 11.0	2,550	1:: 7.9	1,760	1:: 6.4	178.69

(Note)

Percentage for 6 months of FY2016 is compared to 6 months of FY2015 Percentage for FY2016 is compared to FY2015

4 Others

(1) Number of shares outstanding ( Common stock )

① End of number of shares outstanding ( including treasury stock ) As of March 31, 2016 9,850,000

As of March 31, 2015 9,850,000

② End of number of treasury stock

As of March 31, 2016 268

As of March 31, 2015 268

Cautionary Statement

These forecasts are based on an assumption in the light of information currently available at the date of this announcement. Therefore, various kinds of factors can cause actual results to differ materially from these forecasts.

Qualitative information on consolidated business results for FY2015(April 1, 2015 - March 31, 2016)

1. Consolidated business results

   Japanese economy has been recovering at a moderate pace due to effects of various policy package while employment and income situation is improving. However, economies in Asian emerging countries have been slowing down. And that is still downside risk of Japanese economy.

   Automobile manufacturers, our main customers, has been getting stable sales mainly in the United States. However, optimism is mitigated by the risks of downturn prompted by uncertainty in the global economy especially in emerging countries.

   We continued to secure high sales and incomes owing to steady demand from automobile manufacturers.

   Amount of orders of press machines were 11,682 million yen, an increase of 11.5%. Ones of FA system products were 5,153 million yen, a decrease of 15.4% and ones of After Service decrease by 2.0% to 6,675 million yen. However, amount of orders totaled 23,511 million yen, an increase 0.5% as compared to FY2014.

   With respect to orders backlog March 31 2016, we maintain it almost at the level of the previous fiscal year, 21,445 million yen, a decrease of 0.5%.

   Net sales totaled 23,614 million Yen, down 1.8% from the previous fiscal year. Net sales of press machines declined 18.3% to 10,714 million yen. However ones of FA system products increased 8.3% to 5,350 million yen. Ones of After Service grew sharply 25.9% to 7,549 million yen due to increase of large-scale after service sales.

   Operating income, ordinary income, and profit attributable to owners of parent are 2,829 million yen, 2,767 million yen, and 1,881 million yen, respectively. Operating income, ordinary income and profit attributable to owners of parent increase by 1.7% , 1.9% and 5.9% respectively, as compared to FY2014 .

2. Forecast of consolidated business results for FY2016

Net Sales are to be 23,000 million yen, a decrease of 2.6% as compared to FY2015. We project to maintain it almost at the level of this fiscal year, although there is uncertainty of investment in plant and equipment by automobile manufacturers.

With respect to profits, operating income is to decrease 11.0% from the previous fiscal year, to 2,520 million yen. Ordinary income fall 7.9% to 2,550 million yen, and profit attributable to owners of parent decline 6.4% to 1,760 million yen as compared to FY2015 due to decrease of large-scale after service sales.

Cautionary Statement

These forecasts are based on an assumption in the light of information currently available at the date of this announcement. Therefore, various kinds of factors can cause actual results to differ materially from these forecasts.

Consolidated Balance Sheet [1/2]

(In thousands of yens)
As of March 31, 2015	As of March 31, 2016
Assets
Current assets
Cash and deposits	8,252,069	9,929,460
Notes and accounts receivable - trade	7,728,100	8,114,522
Merchandise and finished goods	58,404	58,276
Work in process	※２ 1,071,301	※２ 892,769
Raw materials and supplies	148,011	129,510
Deferred tax assets	280,928	208,469
Other	1,599,307	1,552,089
Allowance for doubtful accounts	△910	△960
Total current assets	19,137,212	20,884,138
Non-current assets
Property, plant and equipment
Buildings and structures	3,632,278	3,775,080
Accumulated depreciation	△2,530,012	△2,597,631
Buildings and structures, net	1,102,265	1,177,448
Machinery, equipment and vehicles	4,771,857	4,850,493
Accumulated depreciation	△3,680,589	△3,631,117
Machinery, equipment and vehicles, net	1,091,267	1,219,375
Land	833,057	833,057
Leased assets	24,672	32,298
Accumulated depreciation	△5,716	△11,124
Leased assets, net	18,955	21,173
Other	593,277	598,955
Accumulated depreciation	△471,479	△511,850
Other, net	121,797	87,105
Total property, plant and equipment	3,167,343	3,338,160
Intangible assets
Software	124,684	119,183
Other	8,242	8,242
Total intangible assets	132,927	127,426
Investments and other assets
Investment securities	※１ 975,060	※１ 1,055,643
Other	471,577	577,017
Allowance for doubtful accounts	△280	△280
Total investments and other assets	1,446,357	1,632,381
Total non-current assets	4,746,628	5,097,968
Total assets	23,883,841	25,982,106

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