Summary of Consolidated Financial Results for the Third Quarter

1
Summary of Consolidated Financial Results for the Third Quarter
of FY2013 Ending March 31, 2014
February 12, 2014
Company name: Unipres Corporation
Stock exchange on which the shares are listed: Tokyo Stock Exchange, First Section
Securities code: 5949 (URL http://www.unipres.co.jp)
Representative: Masanobu Yoshizawa, President and Representative Director
Contact: Takashi Usui, General Manager of Finance & Accounting Department
Tel. +81-45-470-8631
Expected date of submission of quarterly report: February 12, 2014
Expected date of commencement of dividend payment: ―
Supplementary materials on quarterly financial results: None
Briefing for quarterly financial results: None
（Amounts are rounded down to the nearest million.）
1. Consolidated Financial Results for the Third Quarter of FY2013 (April 1, 2013 through December 31, 2013)
(1) Consolidated operating results
(The percentage represents changes from the corresponding previous periods.)
Net sales
Operating income
Millions of yen
% Millions of yen
Ordinary income
% Millions of yen
Net income
% Millions of yen
%
FY2013 3rd quarter
199,470
12.1
9,820
(31.1)
12,160
(16.8)
5,995
(32.5)
FY2012 3rd quarter
177,983
2.0
14,242
(24.4)
14,608
(18.8)
8,880
(15.2)
(Note) Comprehensive income: FY2013 3rd quarter: 11,636 million yen (11.5%)
Net income
per share
FY2012 3rd quarter: 10,438 million yen (30.3%)
Diluted net income
per share
yen
yen
FY2013 3rd quarter
126.83
125.76
FY2012 3rd quarter
188.95
186.64
(2) Financial position
Total assets
Net assets
Millions of yen
Equity ratio
Millions of yen
%
FY2013 3rd quarter
194,850
116,068
56.4
FY2012
167,805
105,009
58.9
(Reference) Equity: FY2013 3rd quarter: 109,985 million yen
FY2012: 98,848 million yen
2. Dividends
Annual dividends per share
At end of 1st
quarter
At end of 2nd
quarter
yen
yen
—
—
FY2012
FY2013
FY2013 forecast
At end of 3rd
quarter
At year-end
yen
—
12.50
12.50
Total
yen
yen
12.50
25.00
12.50
25.00
—
(Note) Revisions to the forecasts announced most recently: None
3. Forecast of Consolidated Financial Results for FY2013 (April 1, 2013 through March 31, 2014)
(The percentage represents changes from the corresponding previous periods.)
Net sales
Millions of yen
Full year
Operating income
%
Millions of yen
275,000 15.6
15,000
Ordinary income
% Millions of yen
(6.4)
%
15,700 (13.5)
Note) Revisions to the forecasts announced most recently: None
― 1 ―
Net income
Millions of yen
Net income per share
%
yen
9,300 (17.1)
196.42
2
*Notes
(1) Changes in significant subsidiaries during the current quarter
(Changes in specified subsidiaries resulting in changes in scope of consolidation): None
New: None
Excluded: None
(2) Application of special accounting methods for the preparation of the quarterly consolidated financial statements: Yes
(3) Changes in accounting policies and accounting estimates, and restatements
(i) Changes in accounting policies due to revision of accounting standards: None
(ii) Changes in accounting policies other than (i) above: None
(iii) Changes in accounting estimates: None
(iv) Restatements: None
(4) Number of shares issued and outstanding (common stock)
(a) Number of shares outstanding
As of December 31, 47,345,273 shares As of March 31,
at end of period (including
2013
2013
treasury stock)
(b) Number of shares of treasury As of December 31,
31,961 shares As of March 31,
2013
2013
stock at end of period
(c) Average number of shares
during the nine months ended Nine months ended 47,270,477 shares Three months ended
December 31, 2013
December 31, 2012
December 31
47,215,773 shares
31,900 shares
47,002,782 shares
* Note on status of quarterly review procedures
This summary of quarterly financial results is not subject to quarterly review procedures under the Financial Instruments
and Exchange Act. As of the time of disclosure of this summary of quarterly financial results, however, the review
procedures for quarterly consolidated financial statements under the Financial Instruments and Exchange Act have been
completed.
* Explanation about appropriate use of the financial results forecasts, and other noteworthy matters
Statements related to the future, including the forecasts of financial results, described in this document are based on
information currently available to Unipres and on certain assumptions deemed by Unipres to be rational. For the matters
regarding the earnings forecasts, please refer to “1. Qualitative Information concerning Earnings Results for the Current
Quarter, (3) Explanation of future forecasts such as the forecast of consolidated results” on page 5.
― 2 ―
3
Table of Contents
1．Qualitative Information concerning Earnings Results for the Current Quarter ･････････････････････････････････ 4
(1) Explanation of operating results･･･････････････････････････････････････････････････････････････・・・･･････ 4
(2) Explanation of financial position･････････････････････････････････････････････････････････････････・・･････ 4
(3) Explanation of future forecasts such as the forecast of consolidated results･･･････････････････････････････ 5
2．Other information ･･････････････････････････････････････････････････････････････････････････････････････････ 5
(1) Changes in significant subsidiaries during the current quarter ････････････････････････････････････････････ 5
(2) Application of accounting treatments specific to the preparation
of the quarterly consolidated financial statements ････････････････････････････････････････････････････････ 5
(3) Changes in accounting policies and accounting estimates, and restatements････････････････････････････････ 5
3．Quarterly Consolidated Financial Statements ･････････････････････････････････････････････････････････････････ 6
(1) Quarterly Consolidated Balance Sheets ･･････････････････････････････････････････････････････････････････ 6
(2) Quarterly Consolidated Statements of Income and Comprehensive Income･････････････････････････････････ 8
(3) Notes to Quarterly Consolidated Financial Statements・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 10
・Notes on Going Concern Assumption ･･････････････････････････････････････････････････････････････････ 10
・Significant Changes in Shareholders’ Equity ･･･････････････････････････････････････････････････････････ 10
・Segment Information ･･･････････････････････････････････････････････････････････････････････････････････ 10
― 3 ―
4
1. Qualitative Information concerning Earning Results for the Current Quarter
(1) Explanation of operating results
For the nine months ended December 31, 2013, the Group’s consolidated Net sales were ¥199.4 billion (an increase of ¥21.4
billion, or 12.1% on a year-on-year basis) due to the impact on exchange rates from a weaker yen in addition to a production
increase in North America although there was an offsetting effect from a production decrease in Japan. On the income side,
Operating profit was ¥9.8 billion (a decrease of ¥4.4 billion, or 31.1% on a year-on-year basis) due to capital investments for
the future and in response to a production increase in North America, although effects from streamlining, establishing UPS
(Unipres Production System) activities as a pillar with the Group focused on achieving this initiative, is recognized. Ordinary
income was ¥12.1 billion (a decrease of ¥2.4 billion, or 16.8%, on a year-on-year basis), also impacted by the exchange rate
loss, and quarterly Net income was ¥5.9 billion (a decrease of ¥2.8 billion, or 32.5%, on a year-on-year basis).
Operating results by reporting segments are as follows:
1) Japan
Due to the decreased production of our major customers, Net sales were ¥86 billion (a decrease of ¥6.3billion, or 6.8%, on a
year-on-year basis), and Segment income was ¥7.4 billion (a decrease of ¥10 million, or 0.2%, on a year-on-year basis).
2) North America
While in addition to the effects of a production increase from customers, due to the impact on exchange rates from a weaker
yen, Net sales were ¥48.2 billion (an increase of ¥22.3 billion, or 86.0% on a year-on-year basis), Segment loss recorded ¥3.7
billion (profit of ¥1 billion on a year-on-year basis) due to the cost for launching new models and the cost of responding to a
production increase, etc.
3) Europe
Net sales were ¥19.6 billion (an increase of ¥2.3 billion yen, or 13.4%, on a year-on-year basis) due to a favorable impact from
exchange rates in spite of the negative impact from decreased production, and Segment income was ¥1.4 billion (a decrease of
¥70 million yen, or 5.0%, on a year-on-year basis).
4) Asia
Due to the impact on exchange rates from a weaker yen, etc., Net sales were ¥45.5 billion (an increase of ¥3.1 billion, or 7.5%
on a year-on-year basis). On the other hand, Segment income was ¥4.5 billion (a decrease of ¥0.2 billion, or 6.0% on a year-onyear basis) due to the impact related to initial investment cost for a new plant in China.
(2) Explanation of financial position
Total assets at the end of December 31, 2013 consolidated accounting period were ¥194.8 billion, an increase of ¥27 billion on a
year-on-year basis due to the impact on exchange rates from a weaker yen and an increase of ¥4.6 billion in Notes and accounts
receivable-trade, an increase of ¥15.6 billion in Property, plant and equipment and an increase of ¥2.8 billion in Investment
securities respectively.
Liabilities were ¥78.7 billion, an increase of ¥15.9 billion on a year-on-year basis due to an increase of ¥4.4 billion in Notes and
accounts payable-trade, an increase of ¥3.2 billion in Long and short-term loans payable and an increase of ¥2.6 billion in
Income taxes payable, etc., respectively.
Net assets were ¥116 billion, an increase of ¥11 billion on a year-on-year basis due to an increase of ¥4.8 billion in Retained
― 4 ―
5
earnings, an increase of ¥5.6 billion in Foreign currency translation adjustment account respectively.
(3) Explanation of future forecasts such as the forecast of consolidated results
The Consolidated financial results forecast for the year ending March 31, 2014 has not been modified from the one announced
on November 6, 2013 as the financial results have remained within the range previously forecasted.
2. Other Information
(1) Changes in significant subsidiaries during the current quarter
None
(2) Adoption of accounting treatments specific to the preparation of the quarterly consolidated financial
statements
Tax expenses are calculated as income before income taxes and minority interests for the quarter multiplied by the estimated
effective tax rate. The effective tax rate is reasonably estimated taking into consideration deferred tax accounting as the rate
applicable to income before income taxes and minority interests for the consolidated fiscal year ending March 31, 2014.
(3) Changes in accounting policies and accounting estimates, and restatements
None
― 5 ―
6
3. Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Millions of yen)
FY2012
(As of March 31, 2013)
FY2013 3rd Quarter
(As of December 31, 2013)
Assets
Current assets
Cash and deposits
8,823
9,821
Notes and accounts receivable-trade
29,705
34,394
Inventories
24,481
25,903
9,956
11,805
Other
Allowance for doubtful accounts
(0)
(5)
72,966
81,919
Buildings and structures, net
17,804
22,806
Machinery, equipment and vehicles, net
33,272
45,515
7,802
7,853
Total current assets
Noncurrent assets
Property, plant and equipment
Land
Construction in progress
11,134
6,251
Other, net
11,746
14,990
Total property, plant and equipment
81,761
97,418
2,365
2,404
Investment securities
5,145
8,012
Other
5,570
5,101
Intangible assets
Investments and other assets
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets
― 6 ―
(4)
(6)
10,712
13,108
94,839
112,931
167,805
194,850
7
(Millions of yen)
FY2012
(As of March 31, 2013)
FY2013 3rd Quarter
(As of December 31, 2013)
Liabilities
Current liabilities
Notes and accounts payable-trade
16,223
20,665
Short-term loans payable
12,369
14,112
Income taxes payable
1,487
4,110
Provision for bonuses
2,277
1,353
120
79
Other
13,220
17,440
Total current liabilities
45,699
57,759
Long-term loans payable
7,507
9,039
Provision for retirement benefits
4,206
4,467
147
157
Other provision
Noncurrent liabilities
Other provisions
Other
Total noncurrent liabilities
Total liabilities
5,234
7,359
17,097
21,022
62,796
78,782
Net assets
Shareholders' equity
Common stock
9,639
9,722
Capital surplus
10,697
10,780
Retained earnings
81,982
86,807
(14)
(14)
102,305
107,296
344
899
(3,519)
2,121
(281)
(331)
(3,456)
2,689
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Pension liability adjustment of foreign subsidiaries
Total accumulated other comprehensive income
Share subscription rights
Minority interests
Total net assets
Total liabilities and net assets
― 7 ―
313
272
5,847
5,810
105,009
116,068
167,805
194,850
(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the nine months ended December 31,
(Millions of yen)
FY2012 3rd Quarter
(April 1, 2012 through
December 31, 2011)
FY2013 3rd Quarter
(April 1, 2013 through
December 31, 2013)
Net sales
177,983
199,470
Cost of sales
151,575
175,756
Gross profit
26,407
23,713
Selling, general and administrative expenses
12,164
13,893
Operating income
14,242
9,820
Interest income
71
102
Dividends income
40
66
397
2,400
Non-operating income
Foreign exchange gain
Equity in earnings of affiliates
74
139
Other
242
347
Total non-operating income
826
3,055
Interest expenses
335
524
Other
125
191
Total non-operating expenses
460
715
14,608
12,160
Gain on sales of noncurrent assets
42
27
Gain on change in equity
－
97
Gain on sales of subsidiaries and affiliates' stocks
38
－
Other
－
3
Total extraordinary income
81
128
108
166
－
53
Non-operating expenses
Ordinary income
Extraordinary income
Extraordinary losses
Loss on disposal of noncurrent assets
Loss on sales of subsidiaries and affiliates' stocks
－
21
108
242
14,581
12,046
Income taxes
5,276
6,845
Income before minority interests
9,304
5,200
423
(794)
8,880
5,995
Other
Total extraordinary losses
Income before income taxes and minority interests
Minority interests in income or minority interests in loss
(down)
Net income
― 8 ―
Quarterly Consolidated Statements of Comprehensive Income
For the nine months ended December 31,
(Millions of yen)
FY2012 3rd Quarter
(April 1, 2012 through
December 31, 2011)
Income before minority interests
FY2013 3rd Quarter
(April 1, 2013 through
December 31, 2013)
9,304
5,200
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
(42)
554
1,194
5,859
Pension liability adjustment of foreign subsidiaries
(12)
(57)
Share of other comprehensive income of associates
(6)
79
Total other comprehensive income
Comprehensive income
1,133
6,435
10,438
11,636
9,763
675
12,141
(504)
Comprehensive income attributable to:
Owners of the parent
Minority interests
― 9 ―
(3) Notes to Quarterly Consolidated Financial Statements
Notes on Going Concern Assumption
None
Significant Changes in Shareholders’ Equity
None
Segment Information
Information about net sales, income / loss by reportable segment
FY2012 3rd Quarter (April 1, 2012 through December 31, 2012)
(Millions of yen)
Reportable segments
Adjustments
Japan
North
America
Europe
Asia
Total
(Note 1)
Quarterly
consolidated
statements of
income
(Note 2)
Net sales
Net sales to third-party customers
92,371
25,956
17,296
42,359
177,983
－
177,983
Inter-segment sales/transfers
21,572
29
5
1,789
23,397
(23,397)
－
113,943
25,986
17,301
44,148
201,381
(23,397)
177,983
7,429
1,032
1,562
4,788
14,812
(569)
14,242
Total net sales
Segment income
Notes: 1. Adjustments to segment income represent the elimination of inter-segment transactions.
2. Segment income is adjusted to the operating income presented in the quarterly consolidated statements of income.
FY2013 3rd Quarter (April 1, 2013 through December 31, 2013)
(Millions of yen)
Reportable segments
Adjustments
Japan
North
America
Europe
Asia
Total
(Note 1)
Quarterly
consolidated
statements of
income
(Note 2)
Net sales
Net sales to third-party customers
86,063
48,272
19,607
45,525
199,470
－
199,470
Inter-segment sales/transfers
17,355
56
－
982
18,393
(18,393)
－
103,418
48,329
19,607
46,507
217,863
(18,393)
199,470
7,413
(3,736)
1,483
4,501
9,663
156
9,820
Total net sales
Segment income
Notes: 1. Adjustments to segment income represent the elimination of inter-segment transactions.
2. Segment income is adjusted to the operating income presented in the quarterly consolidated statements of income.
― 10 ―

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