OSG : Announcement of FY2016 Financial Results (110.4 KB)

FY2016 Consolidated Financial Results (December 1, 2015 - November 30, 2016)

January 13, 2017

Company name : OSG Corporation

Shares Listed : 1st section of Tokyo and Nagoya Stock Exchanges

Code Number : 6136

Location of the head office : Aichi Prefecture

Representative: : Norio Ishikawa, President

Contact person: : Koji Sonobe, Managing Director

TEL: [phone] URL http://www.osg.co.jp/en/about_us/ir/

1. Consolidated Results for FY2016 (December 1, 2015 - November 30, 2016)

2. Consolidated financial results (Amounts less than one million yen are omitted)

   Net Sales	Operating income	Ordinary income	Net income attributable to OSG Corporation
   FY2016	Million yen %	Million yen %	Million yen %	Million yen %
   	105,561 -5.7	18,246 -15.5	17,813 -17.2	10,134 -19.0
   FY2015	111,917 10.8	21,597 24.0	21,510 22.4	12,518 25.3

   (Note) Comprehensive income FY2016: 3,697 million yen (-71.0%)

   FY2015: 12,760 million yen (-25.0%)

   Net income per share	Diluted net income per share	Return on equity	Ordinary income to total assets	Operating income to net sales
   FY2016	Yen	Yen	%	%	%
   	110.59	100.62	10.4	11.4	17.3
   FY2015	131.78	120.25	12.9	14.5	19.3

   (Reference) Equity in net income of affiliates FY2016: 9 million yen FY2015: 3 million yen

3. Consolidated financial position

   Total assets	Net assets	Equity ratio	Net assets per share
   FY2016	Million yen	Million yen	%	Yen
   	156,081	103,059	59.1	1,024.34
   FY2015	155,129	113,637	66.1	1,079.12

   (Reference) Equity FY2016: 92,216 million yen FY2015: 102,566 million yen

4. Consolidated cash flows

5. Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash & cash equivalents at end of period
   FY2016	Million yen	Million yen	Million yen	Million yen
   	16,333	-16,843	-778	16,555
   FY2015	19,588	-16,976	-6,216	19,402

6. Dividends

   Dividends per share			Total dividends	Payout ratio (consolidated)	Dividends to net assets (consolidated)
   End of 2Q	Year-end	Annual
   FY2015	Yen	Yen	Yen	Million yen	%	%
   	26.00	20.00	46.00	4,369	34.9	4.5
   FY2016	22.00	28.00	50.00	4,507	45.2	4.8
   FY2017 forecast	21.00	23.00	44.00	34.4

7. Forecast of Consolidated Results for FY2017 (December 1, 2016 - November 30, 2017)

   Net sales	Operating income	Ordinary income	Net income attributable to OSG Corporation	Net income per share
   Semi-Annual	Million yen %	Million yen %	Million yen %	Million yen %	Yen
   	57,500 7.5	9,300 -5.4	9,000 -4.9	5,500 -5.4	61.09
   Annual	116,500 10.4	19,500 6.9	19,000 6.7	11,500 13.5	127.74

8. Others

10. Changes in significant subsidiaries during the current period

    (Changes in specified subsidiaries that caused a change in the scope of consolidation) : None

11. Changes in accounting principles and accounting estimates and retrospective restatement

12. Changes in accounting principles due to amendment to accounting standards:Yes

13. Changes other than (2)-(i) above: None

14. Changes in accounting estimates: None

15. Retrospective restatement: None

16. Number of shares issued and outstanding (common stock)

17. Number of shares issued and outstanding at the end of each period (including treasury stock): FY2016: 95,955,226 shares

    FY2015: 95,955,226 shares

18. Number of treasury stock at the end of each period: FY2016: 5,930,079 shares

    FY2015: 908,970 shares

19. Average number of shares outstanding in each period: FY2016: 91,640,278 shares

20. FY2015: 94,991,265 shares

    [Note regarding forecast]

    The above forecasts for financial results are based on information available at the time this report was released. These forecasts and other forward-looking statements are not guarantees of future performance. Actual operating results may differ from the above forecasts due to known and unknown risks, uncertainties, and other factors.

    Consolidated Summary Balance Sheet
    OSG Corporation
    Assets		(Million yen : amounts less than one million yen are omitted)
    FY2015	FY2016	Change
    As of Nov. 30, 2015	As of Nov. 30, 2016
    Current Assets
    Cash and time deposits	21,472	18,003
    Notes and accounts receivable	21,519	20,758
    Marketable securities	78	0
    Merchandise and finished goods	19,292	20,978
    Work in process	5,297	4,879
    Raw materials and supplies	6,083	5,834
    Other	5,137	4,906
    Allowance for doubtful accounts	(188)	(191)
    Total current assets	78,692	75,168	(3,523)
    Fixed Assets
    Tangible Assets
    Building and structures	16,651	18,588
    Machinery and equipment	27,428	28,877
    Land	15,107	14,830
    Other	4,088	4,098
    Total tangible assets	63,276	66,395	3,118
    Intangible Assets
    Goodwill	532	2,658
    Other	721	829
    Total intangible assets	1,254	3,488	2,233
    Investments and Other Assets
    Investment securities	7,239	6,633
    Other	5,078	4,848
    Allowance for doubtful accounts	(411)	(452)
    Total investments and other assets	11,906	11,028	(877)
    Total fixed assets	76,437	80,912	4,474
    Total	155,129	156,081	951

    Consolidated Summary Balance Sheet
    OSG Corporation
    Liabilities and Net Assets	(Million yen : amounts less than one million yen are omitted)
    FY2015	FY2016	Change
    	As of Nov. 30, 2015	As of Nov. 30, 2016
    Current Liabilities
    Notes and accounts payable	4,980	4,618
    Short-term loans payable	4,052	8,000
    Current portion of long-term loans payable	445	491
    Accrued expenses	6,715	6,365
    Income taxes payable	3,486	1,436
    Reserve for directors' bonuses	637	454
    Other	3,196	4,105
    Total current liabilities	23,515	25,474	1,959
    Long-term Liabilities
    Convertible bonds	14,850	14,850
    Long-term borrowings	847	10,163
    Retirement allowance
    for directors and corporate auditors	50	108
    Liabilities for employees' retirement benefits	244	280
    Other	1,984	2,145
    Total long-term liabilities	17,976	27,547	9,570
    Total liabilities	41,491	53,021	11,530
    Shareholders' Equity
    Common stock	10,404	10,404
    Capital surplus	12,090	12,090
    Retained earnings	75,719	81,840
    Treasury stock	(1,104)	(10,967)
    Total shareholders' equity	97,109	93,368	(3,740)
    Accumulated other comprehensive income
    Unrealized gain on
    available-for-sale securities	2,709	2,267
    Deferred gain (loss) on
    derivatives under hedge accounting	2	(0)
    Foreign currency translation adjustments	2,745	(3,419)
    Total accumulated other comprehensive income	5,456	(1,152)	(6,609)
    Subscription rights to shares	-	13	13
    Noncontrolling interests	11,071	10,829	(241)
    Total net assets	113,637	103,059	(10,578)
    Total liabilities and net assets	155,129	156,081	951