OSG : Announcement of FY2017 Q3 Financial Results (75.0 KB)

FY2017 Third-Quarter Consolidated Financial Results (December 1, 2016 - August 31, 2017)

October 10, 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 FY2017 Third-Quarter (December 1, 2016 - August 31, 2017)

   (Note) Comprehensive income	FY2017 third-quarter: 12,242 million yen (	-%)
   FY2016 third-quarter: -2,494 million yen (	-%)

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

   Net Sales	Operating income	Ordinary income	Net income attributable to OSG Corporation
   FY2017 third-quarter	Million yen %	Million yen %	Million yen %	Million yen %
   	88,281 12.2	13,968 -3.4	14,080 1.7	9,315 10.3
   FY2016 third-quarter	78,652 -6.2	14,467 -13.3	13,845 -16.8	8,448 -15.0

   Net income per share	Diluted net income per share
   FY2017 third-quarter FY2016 third-quarter	Yen 103.28 91.70	Yen 93.98 83.48

3. Consolidated financial position

4. Total assets	Net assets	Equity ratio
   FY2017 third-quarter	Million yen	Million yen	%
   	162,205	113,544	62.7
   FY2016	156,081	103,059	59.1

   (Reference) Equity FY2017 third-quarter: 101,639 million yen FY2016: 92,216 million yen

5. Dividends

   Dividends per share
   End of Q2	Year-end	Annual
   FY2016	Yen 22.00	Yen 28.00	Yen 50.00
   FY2017	21.00
   FY2017 forecast	23.00	44.00

6. 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
   Annual	Million yen % 118,000 11.8	Million yen % 19,500 6.9	Million yen % 19,000 6.7	Million yen % 11,500 13.5	Yen 127.50

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: None

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): FY2017 third-quarter: 95,955,226 shares

    FY2016: 95,955,226 shares

18. Number of treasury stock at the end of each period: FY2017 third-quarter: 4,347,591 shares FY2016: 5,930,079 shares

19. Average number of shares outstanding in each period:

20. FY2017 third-quarter: 90,193,375 shares FY2016 third-quarter: 92,124,691 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)
    FY2016	FY2017 third-quarter	Change
    As of Nov. 30, 2016	As of Aug. 31, 2017
    Current Assets
    Cash and time deposits	18,003	17,676
    Notes and accounts receivable	20,758	22,839
    Marketable securities	0	0
    Merchandise and finished goods	20,978	22,808
    Work in process	4,879	5,568
    Raw materials and supplies	5,834	6,000
    Other	4,906	4,258
    Allowance for doubtful accounts	(191)	(265)
    Total current assets	75,168	78,885	3,716
    Fixed Assets
    Tangible Assets
    Building and structures	18,588	19,857
    Machinery and equipment	28,877	29,586
    Land	14,830	14,873
    Other	4,098	4,277
    Total tangible assets	66,395	68,595	2,199
    Intangible Assets
    Goodwill	2,658	3,601
    Other	829	798
    Total intangible assets	3,488	4,399	911
    Investments and Other Assets
    Investment securities	6,633	7,270
    Other	4,848	3,472
    Allowance for doubtful accounts	(452)	(418)
    Total investments and other assets	11,028	10,324	(704)
    Total fixed assets	80,912	83,319	2,407
    Total	156,081	162,205	6,124

    Consolidated Summary Balance Sheet
    OSG Corporation
    Liabilities and Net Assets	(Million yen : amounts less than one million yen are omitted)
    FY2016	FY2017 third-quarter	Change
    	As of Nov. 30, 2016	As of Aug. 31, 2017
    Current Liabilities
    Notes and accounts payable	4,618	4,879
    Short-term loans payable	8,000	6,689
    Current portion of long-term loans payable	491	406
    Income taxes payable	1,436	2,335
    Reserve for employees' bonuses	470	1,667
    Reserve for directors' bonuses	454	325
    Other	10,000	6,303
    Total current liabilities	25,474	22,607	(2,866)
    Long-term Liabilities
    Convertible bonds	14,850	12,260
    Long-term borrowings	10,163	11,016
    Retirement allowance
    for directors and corporate auditors	108	52
    Liabilities for employees' retirement benefits	280	542
    Other	2,145	2,182
    Total long-term liabilities	27,547	26,053	(1,494)
    Total liabilities	53,021	48,660	(4,361)
    Shareholders' Equity
    Common stock	10,404	10,404
    Capital surplus	12,090	11,965
    Retained earnings	81,840	86,432
    Treasury stock	(10,967)	(8,039)
    Total shareholders' equity	93,368	100,763	7,394
    Accumulated other comprehensive income
    Unrealized gain on
    available-for-sale securities	2,267	2,782
    Deferred loss on
    derivatives under hedge accounting	(0)	(1)
    Foreign currency translation adjustments	(3,419)	(1,905)
    Total accumulated other comprehensive income	(1,152)	875	2,027
    Subscription rights to shares	13	13	-
    Noncontrolling interests	10,829	11,892	1,062
    Total net assets	103,059	113,544	10,485
    Total liabilities and net assets	156,081	162,205	6,124