Financialmixi
Quarterly Consolidated Balance Sheets: 1Q FY2013
9 Aug 20134 pages~4 min full read
Net sales for 1Q FY2013 dropped 39% year-over-year, falling from ¥3,539 million to ¥2,144 million.
See it on page 2The company shifted from an operating income of ¥889 million in 1Q FY2012 to an operating loss of ¥84 million in 1Q FY2013.
See it on page 2Net income declined from ¥562 million in the prior year to a net loss of ¥253 million, impacted by a ¥117 million loss from equity in affiliates and a ¥34 million impairment loss.
See it on page 2Retained earnings decreased from ¥10,409 million at the end of FY2012 to ¥9,827 million by June 30, 2013.
See it on page 4Despite operational losses, the company maintained a strong liquidity position with ¥12,643 million in cash and deposits out of ¥18,868 million in total assets.
See it on page 4Cash and cash equivalents increased to ¥11,143 million by the end of the quarter, bolstered by a ¥2,371 million inflow from investing activities despite a ¥210 million net outflow from operations.
See it on page 4The financial results for the first quarter of fiscal year 2013, covering the period from April 1, 2013, to June 30, 2013, indicate a significant downturn in performance compared to the same period in the previous year. Net sales fell sharply by approximately 39%, dropping from ¥3,539 million in 2012 to ¥2,144 million in 2013. This contraction in revenue led to an operating loss of ¥84 million, a stark reversal from the ¥889 million operating income recorded in the prior year’s first quarter.
The bottom-line results further reflect this decline, with the company reporting a net loss of ¥253 million for the quarter, compared to a net income of ¥562 million a year earlier. This deficit was exacerbated by non-operating expenses, specifically a ¥117 million loss from equity in affiliates, and an extraordinary impairment loss of ¥34 million. Consequently, retained earnings decreased from ¥10,409 million at the end of fiscal year 2012 to ¥9,827 million by June 30, 2013.
Despite the operational losses, the consolidated balance sheet shows a stable liquidity position. Total assets stood at ¥18,868 million, with cash and deposits remaining a primary component at ¥12,643 million. Cash flow analysis reveals that while operating activities resulted in a net outflow of ¥210 million, investing activities generated a significant inflow of ¥2,371 million, primarily driven by the withdrawal of time deposits. This resulted in a net increase in cash and cash equivalents, ending the period at ¥11,143 million. The overall financial position remains characterized by a high equity ratio, though the period was defined by shrinking sales and a transition into net losses.
