Financialmixi
FY2013 Second-Quarter Financial Statements
8 Nov 20134 pages~4 min full read
Net sales for the six-month period ending September 30, 2013, plummeted 41.6% to ¥3,979 million, down from ¥6,817 million in the same period of the previous year.
See it on page 4The company shifted from an operating income of ¥1,612 million in FY2012 to an operating loss of ¥398 million in the current period.
See it on page 4The bottom line recorded a net loss of ¥1,352 million, a significant reversal from the ¥1,205 million net income reported in the prior year.
See it on page 4Retained earnings declined from ¥10,409 million at the end of FY2012 to ¥8,728 million, resulting in a reduction of total net assets to ¥14,664 million.
See it on page 1Liquidity remains stable with cash and cash equivalents totaling ¥11,247 million, bolstered by ¥4,000 million in proceeds from the withdrawal of time deposits.
See it on page 4The balance sheet shows a deleveraging trend, with total liabilities decreasing to ¥2,816 million from ¥3,791 million at the start of the fiscal year.
See it on page 1The financial results for the second quarter of fiscal year 2013, covering the six-month period ending September 30, 2013, reveal a significant downturn in performance compared to the same period in the previous year. Net sales fell sharply from ¥6,817 million to ¥3,979 million, representing a decline of approximately 41.6%. This contraction in revenue led to an operating loss of ¥398 million, a stark reversal from the ¥1,612 million operating income recorded in the second quarter of fiscal year 2012.
The bottom-line results show a net loss of ¥1,352 million for the period, contrasted with a net income of ¥1,205 million in the prior year. This deficit was exacerbated by a substantial increase in deferred income taxes, which rose to ¥666 million, and equity in losses of affiliates totaling ¥126 million. Consequently, retained earnings decreased from ¥10,409 million at the end of fiscal year 2012 to ¥8,728 million, contributing to a reduction in total net assets to ¥14,664 million.
Despite the reported losses, the consolidated statement of cash flows indicates a stable liquidity position. While operating activities resulted in a net cash outflow of ¥448 million, investing activities generated a significant inflow of ¥2,774 million, primarily driven by ¥4,000 million in proceeds from the withdrawal of time deposits. These movements resulted in a net increase in cash and cash equivalents, ending the period at ¥11,247 million. The balance sheet remains deleveraged with total liabilities decreasing to ¥2,816 million, down from ¥3,791 million at the start of the fiscal year.
