TOSHIBA PLANT SYSTEMS & SERVICES CORPORATION 
By 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.
Company name Toshiba Plant Systems & Services Corporation
Stock exchange listing Tokyo
Stock Code 1983 URL http://www.toshiba-tpsc.co.jp
President and Chief Executive Officer,
October 31, 2013
Representative
Inquiries
Representative Director
Vice President and Director, Head of
Accounting Division
Kenji Sato
Yoshikatsu Tanaka TEL 045-500-7012
Scheduled date to file Quarterly Securities Report November 6, 2013
Scheduled date to commence dividend payments December 2, 2013
Preparation of supplementary material on quarterly earnings yes
Holding of quarterly earnings performance review yes (for institutional investors and analysts)
(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2013 (from April 1, 2013 to September 30, 2013)
(1) Consolidated operating results (cumulative) Percentages indicate year-on-year changes
Net sales | Operating income | Ordinary income | Net income | |||||
Six months ended September 30, 2013 Six months ended September 30, 2012 | Millions of yen 72,438 73,689 | % (1.7) 17.9 | Millions of yen 4,627 6,783 | % (31.8) 44.5 | Millions of yen 4,803 6,922 | % (30.6) 44.7 | Millions of yen 2,937 3,912 | % (24.9) 58.3 |
Net income per share | Diluted net income per share | |
Six months ended September 30, 2013 Six months ended September 30, 2012 | Yen 30.15 40.16 | Yen - - |
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |
As of September 30, 2013 As of March 31, 2013 | Millions of yen 179,827 188,080 | Millions of yen 102,076 99,861 | % 56.6 53.0 |
2. Cash dividends
Annual dividends | |||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Fiscal year-end | Total | |
Year ended March 31, 2013 Year ending March 31, 2014 | Yen - - | Yen 7.50 7.50 | Yen - | Yen 7.50 | Yen 15.00 |
Year ended March 31, 2013 Year ending March 31, 2014 | Yen - - | Yen 7.50 7.50 | |||
Year ending March 31, 2014 (Forecast) | - | 7.50 | 15.00 |
3. Forecast for the year ending March 31, 2014 (from April 1, 2013 to March 31, 2014)
Percentages indicate year-on-year changes
Net sales | Operating income | Ordinary income | Net income | Net income per share | |||||
Full year | Millions of yen 185,000 | % 7.0 | Millions of yen 16,300 | % 1.6 | Millions of yen 16,500 | % 0.0 | Millions of yen 10,000 | % (2.8) | Yen 102.64 |
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4. Notes
(1) Changes in significant subsidiaries during the six months ended September 30, 2013
no
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) Application of special accounting for preparing quarterly consolidated financial statements: no
(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
Changes in accounting policies due to revisions to accounting standards and other regulations: | no |
Changes in accounting policies due to other reasons: yes | |
Changes in accounting estimates: no | |
Restatement of prior period financial statements after error corrections: no |
(4) Number of issued shares
Total number of issued shares at the end of the period (including treasury stock)
As of September 30, 2013 97,656,888 shares As of March 31, 2013 97,656,888 shares
Number of shares of treasury stock at the end of the period
As of September 30, 2013 235,925 shares As of March 31, 2013 232,984 shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2013 97,421,878 shares Six months ended September 30, 2012 97,430,204 shares
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Assets
Current assets
(Millions of yen) As of March 31, 2013 As of September 30, 2013
Cash and deposits 3,408 4,081
Group finance deposits 56,820 67,637
Notes receivable, accounts receivable from completed
construction contracts and other
87,451 65,733
Costs on uncompleted construction contracts 16,704 18,122
Other 6,108 5,929
Allowance for doubtful accounts (392) (73) Total current assets 170,100 161,431
Noncurrent assets
Property, plant and equipment 6,171 6,198
Intangible assets 148 236
Investments and other assets
Other 11,783 12,081
Allowance for doubtful accounts (123) (121) Total investments and other assets 11,659 11,960
Total noncurrent assets 17,979 18,395
Total assets 188,080 179,827
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Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other
(Millions of yen) As of March 31, 2013 As of September 30, 2013
34,239 25,714
Income taxes payable 3,996 1,122
Advances received on uncompleted construction contracts 9,355 12,550
Provision for directors' bonuses 72 26
Provision for warranties for completed construction 565 562
Other 10,874 8,477
Total current liabilities 59,103 48,453
Noncurrent liabilities
Provision for retirement benefits 28,770 28,968
Provision for directors' retirement benefits 33 18
Other 311 311
Total noncurrent liabilities 29,115 29,297
Total liabilities 88,218 77,750
Net assets
Shareholders' equity
Capital stock 11,876 11,876
Capital surplus 20,910 20,910
Retained earnings 66,786 68,993
Treasury stock (148) (152) Total shareholders' equity 99,424 101,627
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 50 286
Deferred gains or losses on hedges 129 17
Foreign currency translation adjustment 76 (89) Total accumulated other comprehensive income 256 213
Minority interests 180 235
Total net assets 99,861 102,076
Total liabilities and net assets 188,080 179,827
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Six months ended
September 30, 2012
(Millions of yen) Six months ended
September 30, 2013
Net sales 73,689 72,438
Cost of sales 61,698 62,521
Gross profit 11,990 9,916
Selling, general and administrative expenses 5,207 5,289
Operating income 6,783 4,627
Non-operating income
Interest income 60 85
Dividends income 21 18
Equity in earnings of affiliates - 1
Dividends income of insurance 146 71
Other 62 130
Total non-operating income 290 308
Non-operating expenses
Equity in losses of affiliates 5 - Foreign exchange losses 131 108
Other 14 23
Total non-operating expenses 151 131
Ordinary income 6,922 4,803
Extraordinary loss
Loss on valuation of investment securities 80 - Total extraordinary losses 80 - Income before income taxes and minority interests 6,842 4,803
Income taxes-current 2,439 1,070
Income taxes-deferred 468 729
Total income taxes 2,908 1,799
Income before minority interests 3,933 3,003
Minority interests in income 21 66
Net income 3,912 2,937
5
Six months ended
September 30, 2012
(Millions of yen) Six months ended
September 30, 2013
Income before minority interests 3,933 3,003
Other comprehensive income
Valuation difference on available-for-sale securities (3) 235
Deferred gains or losses on hedges (59) (111) Foreign currency translation adjustment (88) (175) Total other comprehensive income (151) (52)
Comprehensive income 3,782 2,951
Comprehensive income attributable to
Comprehensive income attributable to owners of the parent 3,767 2,894
Comprehensive income attributable to minority interests 14 56
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Net cash provided by (used in) operating activities
Six months ended
September 30, 2012
(Millions of yen) Six months ended September 30, 2013
Income before income taxes and minority interests 6,842 4,803
Depreciation and amortization 357 266
Loss (gain) on valuation of investment securities 80 - Increase (decrease) in allowance for doubtful accounts (21) (319) Increase (decrease) in provision for retirement benefits 270 203
Increase (decrease) in provision for directors' retirement
benefits
1 (15)
Interest and dividends income (81) (104) Loss (gain) on disposal of property, plant and equipment 5 - Loss (gain) on sales of property, plant and equipment (1) 1
Decrease (increase) in notes and accounts receivable-trade 20,819 21,590
Decrease (increase) in costs on uncompleted construction
contracts
(4,630) (1,430)
Increase (decrease) in notes and accounts payable-trade (5,670) (8,464) Increase (decrease) in advances received on uncompleted
construction contracts
2,223 3,226
Other, net (1,661) (3,349) Subtotal 18,533 16,408
Interest and dividends income received 81 118
Income taxes paid (5,042) (3,913) Net cash provided by (used in) operating activities 13,573 12,614
Net cash provided by (used in) investing activities
Payments into time deposits (80) (162) Proceeds from withdrawal of time deposits 1 120
Payments for group finance deposits - (19,270) Proceeds for group finance deposits 840 11,090
Payments of short-term loans receivable (1) (0) Collection of short-term loans receivable 1 1
Purchase of property, plant and equipment (319) (183) Proceeds from sales of property, plant and equipment 15 13
Purchase of intangible assets (4) (110) Long-term (8) (11) Income long-term deposit 24 10
Other, net (3) (3) Net cash provided by (used in) investing activities 464 (8,504)
Net cash provided by (used in) financing activities
Cash dividends paid (730) (730) Other, net (33) (13) Net cash provided by (used in) financing activities (764) (744)
Effect of exchange rate change on cash and cash equivalents (251) (87) Net increase (decrease) in cash and cash equivalents 13,021 3,278
Cash and cash equivalents at beginning of period 44,959 49,105
Cash and cash equivalents at end of period 57,980 52,384
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