Quarterly Consolidated Balance Sheets: 1Q of FY2013

The quarterly consolidated balance sheets and income statements for the first quarter of fiscal year 2013, covering April to June 2013, reveal a contraction in both sales and profitability compared with the same period in fiscal year 2012. Net sales fell from ¥3,539 million to ¥2,144 million, while gross profit declined from ¥2,554 million to ¥1,448 million. Operating income shifted from a profit of ¥889 million in 2012 to an operating loss of ¥84 million in 2013, largely due to higher equity losses of affiliates and foreign exchange impacts. Net income reversed from ¥562 million in 2012 to a loss of ¥253 million, driven by increased non‑operating expenses and a significant impairment loss of ¥34 million.

Balance sheet items show modest changes: total assets decreased from ¥20,083 million to ¥18,868 million, with current assets shrinking by ¥1,152 million. Cash and deposits rose slightly from ¥13,199 million to ¥12,643 million, but overall liquidity improved as cash and equivalents increased by ¥1,944 million during the quarter. Shareholders’ equity contracted from ¥16,291 million to ¥15,768 million, reflecting the net loss and a higher foreign currency translation adjustment of ¥55 million.

The company’s cash flow statement indicates operating activities generated a net outflow of ¥210 million, while investing activities provided a substantial inflow of ¥2,371 million, largely from proceeds on the sale of subsidiary stocks. Financing activities resulted in a net outflow of ¥265 million, mainly due to cash dividends paid. These figures illustrate a period of financial contraction and restructuring within the first quarter of FY2013, with significant impacts from affiliate losses, impairment charges, and currency translation adjustments.