Summary of Consolidated Financial Results for the first ... ... 2019/08/08  · 1st...

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  • Translation

    Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of

    any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

    Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2020

    (Based on Japanese GAAP) August 2, 2019 Company name: Azbil Corporation Stock exchange listing: Tokyo Stock Exchange 1st Section (Code 6845) URL: https://www.azbil.com/ Representative: Hirozumi Sone, President and Chief Executive Officer Contact: Masatoshi Yamada, General Manager,

    Group Management Headquarters Phone: +81-3-6810-1009 Scheduled date to file Quarterly Securities Report: August 9, 2019 Scheduled date to commence dividend payments: - Preparation of supplementary materials on quarterly financial results:

    Yes

    Holding of quarterly financial results meeting: No (Amounts less than one million yen are rounded down) 1. Consolidated financial results for the three months ended June 30, 2019 (from April 1, 2019 to June 30, 2019)

    (1) Consolidated financial results (Cumulative) Percentages indicate year-on-year changes Net sales Operating income Ordinary income Net income attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Three months ended June 30, 2019 54,358 (0.8) 2,292 29.0 2,434 0.8 1,470 (3.6) Three months ended June 30, 2018 54,803 0.0 1,777 2.6 2,415 20.7 1,525 28.2

    Note: Comprehensive income Three months ended June 30, 2019 2,180 million yen 34.1% Three months ended June 30, 2018 1,625 million yen (29.4)% Net income per share Diluted net income per share Yen Yen Three months ended June 30, 2019 10.32 - Three months ended June 30, 2018 10.56 -

    Note: Azbil Corporation (“the Company”) implemented a 2-for-1 common stock split effective on October 1, 2018. “Net income per share” has been calculated as if the stock split had been implemented at the beginning of the previous fiscal year.

    (2) Consolidated financial position

    Total assets Net assets Shareholders’ equity ratio Millions of yen Millions of yen % As of June 30, 2019 255,257 177,204 68.6 As of March 31, 2019 275,518 183,097 65.7

    Reference: Shareholders’ equity As of June 30, 2019 175,110 million yen As of March 31, 2019 181,142 million yen 2. Dividends

    Dividends per share

    1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Year ended March 31, 2019 - 46.00 - 23.00 - Year ending March 31, 2020 - Year ending March 31, 2020 (Forecast) 25.00 - 25.00 50.00

    Note: Revisions to the dividends forecast most recently announced: No The Company implemented a 2-for-1 common stock split effective on October 1, 2018. The dividends for the 2nd quarter-end for the year ended March 31, 2019 are applied to shares held prior to the stock split.

  • 3. Forecast of consolidated financial results for the fiscal year ending March 31, 2020 (from April 1, 2019 to March 31, 2020) Percentages indicate year-on-year changes

    Net sales Operating income Ordinary income Net income

    attributable to owners of parent

    Net income per share

    Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen First half 117,000 (2.3) 7,700 (5.7) 7,600 (14.5) 4,900 (16.0) 34.66 Full year 262,000 (0.0) 26,500 (0.7) 26,200 (5.3) 18,500 (2.4) 130.84

    Note: Revisions to the consolidated financial results forecast most recently announced: No The Company conducted a cancellation of its treasury shares and is repurchasing its own shares pursuant to resolutions at the Board of Directors meeting held on May 10, 2019. For “Net income per share” in the forecast of consolidated financial results, the impact of these matters as of June 30, 2019 is considered. For details, please see “Notes regarding significant change in shareholders’ equity” in “2. Consolidated quarterly financial statements and related notes (3) Notes to the consolidated quarterly financial statements” on page 12 of the Accompanying Document.

    * Notes

    (1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries due to changes in the scope of consolidation): New consolidation : - (Company name: -) Exclusion : - (Company name: -)

    No

    (2) Application of special accounting methods for preparing quarterly consolidated financial statements: No

    (3) Changes in accounting policies, changes in accounting estimates, and retrospective restatements

    1. Changes associated with revision in accounting standards: Yes 2. Other changes: No 3. Changes in accounting estimates: No 4. Retrospective restatements: No Note: For details, please see “Changes in accounting policies” in “2. Consolidated quarterly financial statements and related

    notes (3) Notes to the consolidated quarterly financial statements” on page 13 of the Accompanying Document.

    (4) Number of issued shares (Common stock) 1. Total number of issued shares at the end of the period (including treasury shares)

    As of June 30, 2019 145,200,884 shares As of March 31, 2019 148,500,884 shares 2. Number of treasury shares at the end of the period

    As of June 30, 2019 3,807,906 shares As of March 31, 2019 5,291,816 shares 3. Average number of shares during the period (cumulative from the beginning of the fiscal year)

    Three months ended June 30, 2019 142,556,553 shares Three months ended June 30, 2018 144,527,754 shares Notes: 1. The Company implemented a 2-for-1 common stock split effective on October 1, 2018. The number of shares has

    been calculated as if the stock split had been implemented at the beginning of the previous fiscal year.

    2. The Company has introduced an employee stock ownership plan, and the number of treasury shares at the end of the period includes the Company’s stock held by a trust account (1,986,468 shares as of June 30, 2019; 1,988,258 shares as of March 31, 2019). Also, the Company’s stock held by the trust account is included in treasury shares that are deducted in the calculation of the average number of shares during the period (1,987,403 shares for the three months ended June 30, 2019; 1,995,340 shares for the three months ended June 30, 2018). For details, please see “Additional information” in “2. Consolidated quarterly financial statements and related notes (3) Notes to the consolidated quarterly financial statements” on page 13 of the Accompanying Document.

  • * This consolidated quarterly financial results report is not subject to the quarterly review procedures by certified public accountants

    or auditing firms.

    * Regarding the appropriate use of forecast and other special matters (Note regarding future projections) Net sales for the azbil Group tend to be low in the first quarter of the consolidated accounting period and highest in the fourth quarter. However, fixed costs are generated constantly. This means that profits are typically lower in the first quarter and higher in the fourth quarter.

    The projections of the azbil Group are based on currently available information and some reasonable assumptions. Due to various factors, actual results may differ from those discussed in this document. For information on the forecast of financial results, please see “1. Qualitative information on consolidated quarterly financial results (3) Qualitative information on forecast of consolidated financial results” on page 7 of the Accompanying Document.

    (How to obtain supplementary material on quarterly financial results) Supplementary materials on quarterly financial results are available on the Company’s website.

  • Accompanying Document Contents

    1. Qualitative information on consolidated quarterly financial results ················································· 2

    (1) Qualitative information on consolidated quarterly business performance ···································· 2

    (2) Qualitative information on consolidated quarterly financial position ········································· 7

    (3) Qualitative information on forecast of consolidated financial results ········································· 7

    2. Consolidated quarterly financial statements and related notes ······················································· 8

    (1) Consolidated quarterly balance sheets ············································································· 8

    (2) Consolidated quarterly statements of income and consolidated quarterly

    statements of comprehensive income ··········································································· 10

    Consolidated quarterly statements of income

    The first quarter of the consolidated cumulative period ···················································· 10

    Consolidated quarterly statements of comprehensive income

    The first quarter of the consolidated cumulative period ·······