OSG : Announcement of FY2016 Q2 Financial Results (89.3 KB)

15927f98-828b-47ca-be0d-c0d8438d229a.pdf FY2016 Semi-Annual Consolidated Financial Results (December 1, 2015 - May 31, 2016)

July 7, 2016

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 Semi-Annual (December 1, 2015 - May 31, 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 semi-annual	Million yen %	Million yen %	Million yen %	Million yen %
   	53,484 -4.8	9,835 -10.7	9,462 -13.8	5,816 -12.1
   FY2015 semi-annual	56,187 14.1	11,016 40.9	10,971 40.9	6,614 56.7

   (Note) Comprehensive income FY2016 semi-annual : -1,703 million yen ( - %)

   FY2015 semi-annual : 9,728 million yen (36.5%)

   Net income per share	Diluted net income per share
   FY2016 semi-annual FY2015 semi-annual	Yen 62.52 69.66	Yen 56.96 63.54

3. Consolidated financial position

4. Total assets	Net assets	Equity ratio
   FY2016 semi-annual	Million yen	Million yen	%
   	151,249	100,152	59.6
   FY2015	155,129	113,637	66.1

   (Reference) Equity FY2016 semi-annual: 90,082 million yen FY2015: 102,566 million yen

5. Dividends

   Dividends per share
   End of Q2	Year-end	Annual
   FY2015	Yen 26.00	Yen 20.00	Yen 46.00
   FY2016	22.00
   FY2016 forecast	28.00	50.00

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

   Net sales	Operating income	Ordinary income	Net income attributable to OSG Corporation	Net income per share
   Annual	Million yen % 106,000 -5.3	Million yen % 18,000 -16.7	Million yen % 17,700 -17.7	Million yen % 10,700 -14.5	Yen 115.02

7. Others

9. Changes in significant subsidiaries during the current period

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

10. Adoption of accounting method specific to the preparation of consolidated quarterly financial statements: Yes

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 (3)-(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 semi-annual: 95,955,226 shares

    FY2015: 95,955,226 shares

18. Number of treasury stock at the end of each period: FY2016 semi-annual: 5,672,150 shares FY2015: 908,970 shares

19. Average number of shares outstanding in each period:

20. FY2016 semi-annual: 93,024,113 shares FY2015 semi-annual: 94,956,835 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 semi-annual	Change
    As of Nov. 30, 2015	As of May 31, 2016
    Current Assets
    Cash and time deposits	21,472	18,123
    Notes and accounts receivable	21,519	20,140
    Marketable securities	78	68
    Merchandise and finished goods	19,292	19,772
    Work in process	5,297	5,336
    Raw materials and supplies	6,083	5,945
    Other	5,137	5,793
    Allowance for doubtful accounts	(188)	(186)
    Total current assets	78,692	74,994	(3,698)
    Fixed Assets
    Tangible Assets
    Building and structures	16,651	16,019
    Machinery and equipment	27,428	26,318
    Land	15,107	14,556
    Other	4,088	5,733
    Total tangible assets	63,276	62,629	(647)
    Intangible Assets
    Goodwill	532	2,844
    Other	721	876
    Total intangible assets	1,254	3,720	2,465
    Investments and Other Assets
    Investment securities	7,239	5,746
    Other	5,078	4,591
    Allowance for doubtful accounts	(411)	(431)
    Total investments and other assets	11,906	9,906	(2,000)
    Total fixed assets	76,437	76,255	(181)
    Total	155,129	151,249	(3,879)

    Consolidated Summary Balance Sheet
    OSG Corporation
    Liabilities and Net Assets	(Million yen : amounts less than one million yen are omitted)
    FY2015	FY2016 semi-annual	Change
    	As of Nov. 30, 2015	As of May 31, 2016
    Current Liabilities
    Notes and accounts payable	4,980	4,559
    Short-term loans payable	4,052	8,927
    Current portion of long-term loans payable	445	563
    Income taxes payable	3,486	2,377
    Reserve for employees' bonuses	395	459
    Reserve for directors' bonuses	637	365
    Other	9,517	8,275
    Total current liabilities	23,515	25,528	2,013
    Long-term Liabilities
    Convertible bonds	14,850	14,850
    Long-term borrowings	847	8,370
    Retirement allowance
    for directors and corporate auditors	50	61
    Liabilities for employees' retirement benefits	244	298
    Other	1,984	1,988
    Total long-term liabilities	17,976	25,568	7,592
    Total liabilities	41,491	51,097	9,605
    Shareholders' Equity
    Common stock	10,404	10,404
    Capital surplus	12,090	12,090
    Retained earnings	75,719	79,509
    Treasury stock	(1,104)	(10,464)
    Total shareholders' equity	97,109	91,539	(5,569)
    Accumulated other comprehensive income
    Unrealized gain on
    available-for-sale securities	2,709	1,770
    Deferred gain on
    derivatives under hedge accounting	2	40
    Foreign currency translation adjustments	2,745	(3,267)
    Total accumulated other comprehensive income	5,456	(1,457)	(6,914)
    Subscription rights to shares	-	13	13
    Noncontrolling interests	11,071	10,056	(1,014)
    Total net assets	113,637	100,152	(13,485)
    Total liabilities and net assets	155,129	151,249	(3,879)