Iseki & Co. Ltd. announced consolidated and non-consolidated earnings results for the year ended March 31, 2013. For the year, on consolidated basis, the company reported net sales of ¥155.7 billion against ¥145.2 billion a year ago. Operating income was ¥5.1 billion against ¥4.2 billion a year ago. Ordinary income was ¥5.4 billion against ¥3.9 billion a year ago. Net income was ¥4.0 billion against ¥2.7 billion a year ago. Income before income taxes and minority interests was ¥5.5 billion against ¥3.7 billion a year ago. Operating income increased ¥0.9 billion due to increased gross income by increased sales that exceeded increase of selling, general and administrative expenses. Ordinary income increased ¥1.5 billion mainly due to favorable turn of forex environment in addition to increased operating income. Income before tax increased ¥1.8 billion due to elimination of extraordinary losses mainly caused by change in retirement benefit plan which occurred in the previous period, receipt of compensation related to the nuclear plant accident in addition to increased ordinary income. Return on equity was 6.7% against 5.0% a year ago. Return on total assets was 3.1% against 2.3% a year ago. Net cash provided by operating activities was ¥8,531 million against ¥8,580 million a year ago. Purchase of property, plant and equipment and intangible assets was ¥6,215 million against ¥5,324 million a year ago.

For the year, on non-consolidated basis, the company reported net sales of ¥91,945 million against ¥87,341 million a year ago. Operating income was ¥656 million against ¥438 million a year ago. Ordinary income was ¥2,178 million against ¥2,034 million a year ago. Income before income taxes was ¥2,176 million against ¥1,588 million a year ago. Net income was ¥1,965 million or ¥8.56 per non-diluted share against ¥1,848 million or ¥8.05 per non-diluted share a year ago. Net assets per share was ¥239.41 against ¥229.51 a year ago.

The company provided consolidated earnings guidance for the year ending March 31, 2014. The company expects net sales of ¥163.0 billion, operating income of ¥5.5 billion, ordinary income of ¥5.0 billion and net income of ¥3.4 billion. In terms of profit, the company expects slight increase in operating income and decreased profit in the final profit due to advanced spending of expenses related to production/sales expansion in Southeast Asia and China, increased R&D and other expenses, rise in the raw material prices and increased expenses for facilities, while there will be effect to increase profit by increased gross profit due to increased sales and weaker yen.

With respect to the dividend for the fiscal year ending March 31, 2014, the company expects year-end dividend of ¥3 per share.