FinancialHibiya Engineering
Summary of Consolidated Financial Results: Q2 Fiscal Year Ending March 31, 2014 (Japan)
9 pages~10 min full read
Hibiya Engineering reported an operating loss of 918 million yen for the first half of the fiscal year ending March 31, 2014, a significant decline from the 148 million yen operating income recorded in the same period of 2012.
See it on page 1Net sales for the first half of the fiscal year fell by 10.1% year-on-year to 26,243 million yen.
See it on page 4Net income dropped by 49.6% to 118 million yen compared to the first half of the previous fiscal year.
See it on page 4Despite a 9.6% year-on-year increase in orders received to 34,986 million yen, profitability was constrained by rising labor and material costs alongside intense market competition.
See it on page 4Ordinary income shifted from a 356 million yen profit in the first half of 2012 to a 551 million yen loss for the same period in 2013.
See it on page 7As of September 30, 2013, total assets decreased to 71,002 million yen from 79,427 million yen at the end of the previous fiscal year, while the equity ratio remained at 75.8%.
See it on page 5Hibiya Engineering, Ltd. reported its consolidated financial results for the second quarter of the fiscal year ending March 31, 2014, reflecting a challenging operating environment within the Japanese construction industry. Despite a 9.6% year-on-year increase in orders received, totaling 34,986 million yen, the company faced significant profitability pressures due to intense market competition and rising costs for labor and materials.
Financial performance for the first half of the fiscal year showed a decline in net sales to 26,243 million yen, a 10.1% decrease compared to the same period in the previous year. The company recorded an operating loss of 918 million yen, contrasting with the 148 million yen operating income reported in the first half of 2012. Ordinary income also shifted from a 356 million yen profit to a 551 million yen loss. Consequently, net income fell by 49.6% to 118 million yen.
The company’s financial position as of September 30, 2013, showed total assets of 71,002 million yen, a decrease from 79,427 million yen at the end of the previous fiscal year, largely driven by a reduction in accounts receivable. Total liabilities also decreased to 15,434 million yen, primarily due to lower notes and accounts payable. The equity ratio stood at 75.8%. Management has revised its full-year forecast for the fiscal year ending March 2014, though the company maintains its commitment to its strategic goal of operating as a comprehensive engineering services provider. These results were prepared in accordance with Japan GAAP and reflect the company's performance during the six-month period ending September 30, 2013.
