FinancialHibiya Engineering
Summary of Consolidated Financial Results: Second Quarter Fiscal Year Ending March 31, 2013
9 pages~11 min full read
Hibiya Engineering returned to profitability for the first half of the fiscal year ending March 31, 2013, reporting a net income of 234 million yen compared to a 199 million yen loss in the same period the previous year.
See it on page 1Net sales for the six-month period ending September 30, 2012, reached 29,201 million yen, a 27.6% increase year-on-year driven by a 26.5% rise in orders received.
See it on page 7Operating income improved to 148 million yen, recovering from a 485 million yen loss in the first half of the previous fiscal year.
See it on page 4Ordinary income reached 356 million yen for the period, a significant turnaround from the 9 million yen loss recorded in the prior year.
See it on page 7As of September 30, 2012, the company held total assets of 68,555 million yen and total liabilities of 16,170 million yen.
See it on page 5Management maintained its full-year forecast for the fiscal year ending March 2013, projecting net sales of 66,000 million yen and net income of 2,000 million yen.
See it on page 1The company attributed its growth to favorable market conditions stemming from post-earthquake recovery efforts, despite facing intense price-based competition.
See it on page 4Hibiya Engineering, Ltd. reported a return to profitability for the first half of the fiscal year ending March 31, 2013, compared to the same period in the previous year. The company’s consolidated financial results for the six-month period ending September 30, 2012, show net sales of 29,201 million yen, representing a 27.6% increase year-on-year. This growth was driven by a 26.5% rise in orders received, totaling 31,935 million yen, as the company leveraged its market position amidst a construction industry environment bolstered by post-earthquake recovery efforts.
Profitability metrics improved significantly during this period. The company recorded an operating income of 148 million yen, a recovery from the 485 million yen loss reported in the first half of the previous fiscal year. Ordinary income reached 356 million yen, compared to a 9 million yen loss in the prior year, and net income stood at 234 million yen, reversing a 199 million yen loss. These results were achieved despite ongoing challenges in the Japanese economy, including intense price-based competition and global economic uncertainties.
The company’s financial position as of September 30, 2012, reflected total assets of 68,555 million yen and total liabilities of 16,170 million yen. The reduction in total assets from the previous fiscal year-end was primarily attributed to decreases in accounts receivable and cash deposits, partially offset by an increase in short-term investment securities. Management maintained its full-year forecast for the fiscal year ending March 2013, projecting net sales of 66,000 million yen and net income of 2,000 million yen. The company also implemented a revision to its depreciation method in accordance with changes to Japan’s Corporate Income Tax Law, though the impact on earnings was noted as negligible.
