Raysum Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017
August 08, 2016
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Raysum Co., Ltd. reported consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported net sales of ¥3,734 million against ¥9,960 million a year ago. Operating income was ¥408 million against ¥2,258 million a year ago. Ordinary income was ¥147 million against ¥2,236 million a year ago. Net income was ¥152 million or ¥3.32 per share against ¥2,211 million or ¥47.99 per share a year ago. Return on equity was 14.9% against 20.9% a year ago. Net assets per share were ¥768.79 against ¥679.36 per share a year ago. Net cash provided by operating activities was ¥3,807 million against net cash used in operating activities of ¥5,976 million a year ago. Profit before income taxes was ¥5,280 million against ¥5,997 million a year ago. Purchase of property, plant and equipment was ¥102 million against ¥79 million a year ago. Purchase of intangible assets was ¥23 million against ¥4 million a year ago. The main reason for the year-on-year decrease of 62.5% in Net Sales were that the core wealth management business's sales decreased to ¥2,608 million in the consolidated financial results for the first quarter of the fiscal year under review, compared to ¥9,057 million in the same quarter of the previous fiscal year. The decreases in operating income and ordinary income were mainly due to wealth management business segment income decreasing from ¥2,115 million to ¥185 million. Net cash provided by operating activities was ¥811 million against ¥6,643 million a year ago. Net cash provided by investing activities decreased ¥775 million. The main factors for decrease include the expenditure of ¥106 million related to purchase of property, plant and equipment, purchase of intangible assets and expenditure of ¥667 million from acquisition of stocks of affiliated companies. Profit before income taxes was ¥169 million against ¥2,236 million a year ago.
For the year ending March 31, 2017, the company expects net sales of ¥36,620 million, operating income of ¥6,280 million, ordinary income of ¥6,070 million, net income attributable to owners of parent of ¥6,030 million or ¥130.86 per share.
Raysum Co., Ltd. is a Japan-based company mainly engaged in the asset management, property management and other businesses. The Company operates through three business segments. Asset Management segment is engaged in the procurement of profitable real estate, and composition and sales of investment products. Its investment products include commerce, offices, condominiums, accommodation facilities, educational facilities, medical facilities and others. Property Management segment is engaged in the provision of building leasing and management services. Other segment is engaged in the operation of golf courses, hotels and stores, the production and sale of gas engine generators, the provision of open and support services.
Raysum Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017