Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Prospect Japan Fund Ltd: Closing Announcement of Second Quarter of the Fiscal Year Ending March 31, 2018


News provided by

Prospect Japan Fund Ltd

14 Nov, 2017, 08:21 GMT

Share this article

Share toX

Share this article

Share toX

[Japanese Standards] (Consolidated)

ST PETER PORT, Guernsey, Nov. 13, 2017 /PRNewswire/ --

Prospect Co., Ltd. (Tokyo: 3528) http://www.prospectjapan.co.jp

1. Consolidated Results for Second Quarter of Fiscal Year Ending March 31, 2018 (From April 1, 2017 to September 30, 2017)

(1) Consolidated Operating Results (cumulative) (% indicates the rate of increase or decrease from the same quarter of the previous year.)


Sales

Operating profit

Ordinary profit

Net profit attributable to
owners of the parent


(million yen)

%

(million yen)

%

(million yen)

%

(million yen)

%

Second Quarter of the Fiscal Year
Ending March 31, 2018

3,486

Up 12.6

Up 1,006

-

Up 295

-

1,903

-

Second Quarter of the Fiscal Year
Ended March 31, 2017

3,989

Up 21.4

Up 367

-

Up 550

-

Up 568

-

(Note)

Comprehensive income:

Second Quarter
of Fiscal Year
Ending
March 31, 2018:

1,867

(million yen)

(-%)


Second Quarter
of Fiscal Year
Ended
March 31, 2017:

Up 725

(million yen)

(-%)


















Net profit per share

Fully diluted net profit per share


(yen, sen)

(yen, sen)

Second Quarter of the Fiscal Year Ending March 31, 2018

7.52

6.90

Second Quarter of the Fiscal Year Ended March 31, 2017

Up 3.35

-

(2) Consolidated Financial Condition


Total assets

Net asset

Net worth ratio

Net asset per share


(million yen)

(million yen)

%

(yen, sen)

Second Quarter of the Fiscal Year Ending March 31, 2018

39,162

23,845

63.5

62.08

Fiscal Year Ended March 31, 2017

27,368

12,489

42.0

67.77








(Reference) Net worth:

Second Quarter of
Fiscal Year
Ending
March 31, 2018:

24,874

(million yen)


Fiscal Year
Ended
March 31, 2017:

11,505

(million yen)

2. Status of Dividend


Annual dividend


End of 1st quarter

End of 2nd quarter

End of 3rd quarter

End of period

 

Total


(yen, sen)

(yen, sen)

(yen, sen)

(yen, sen)

(yen, sen)







Fiscal Year Ended March 31, 2017

-

-

-

3.00

3.00

Fiscal Year Ending March 31, 2018

-

-




Fiscal Year Ending March 31, 2018

(Forecast)



-

4.00

4.00











(Note) Existence of adjustment of the dividend forecast most recently announced: None

3. Expected Consolidated Results for Fiscal Year Ending March 31, 2018 (From April 1, 2017 to March 31, 2018)

The Company Group has proactively adopted M&A as a diversification strategy and has also expanded its asset management business as one of its important segments. As these businesses tend to be significantly affected by changes in economic conditions and market environment, it is extremely difficult to properly forecast and disclose ordinary business results. As there is a risk of misleading investors, etc., in disclosing business results forecast under such circumstances, the Company has adopted a policy to make timely disclosure of closing business results and a summary of the business to be conducted on a quarterly basis, and not to disclose a forecast of consolidated business results.

* Precautions

(1) Changes in material subsidiaries in the current consolidated cumulative quarter (changes in the special subsidiaries accompanying changes in the scope of consolidation): Yes

  • New: 1 (Company Name: The Prospect Japan Fund Limited), Exclusion: --- (Company Name: )
    (Note) For details, refer to "2. Quarterly Consolidated Financial Statements and Major Notes (4) Notes to Quarterly Consolidated Financial Statements (Changes in Material Subsidiaries in the Current Consolidated Cumulative Quarter)" on p. 10 of the attached materials.

(2) Application of accounting particular to preparation of Consolidated Quarterly Financial Statements: None

(3) Changes in accounting policy, changes in accounting estimate and restatement
[1] Changes in accounting policy in connection with the amendment of accounting standards, etc.: None
[2] Changes in accounting policy other than [1] above: None
[3] Changes in accounting estimate: None
[4] Restatement: None

(4) Number of outstanding shares (common stocks)

[1] Number of outstanding shares
at the end of term (including treasury stocks):

2Q of the
Fiscal Year
Ending
March 31, 2018:

403,448,312

shares

Fiscal Year
Ended
March 31, 2017:

172,556,807

shares

[2] Number of treasury stocks at the end of term:

2Q of the
Fiscal Year
Ending
March 31, 2018:

2,775,408

shares

Fiscal Year
Ended
March 31, 2017:

2,773,334

shares

[3] Average number of shares during the term (cumulative quarter):

2Q of the
Fiscal Year
Ending
March 31, 2018:

253,055,384

shares

2Q of the
Fiscal Year
Ended
March 31, 2017:

169,808,104

shares

* The quarterly closing announcement is not subject to quarterly review.

* Explanation about Appropriate Use of the Forecast of Business Results and other Matters to be Noted

(Matters to be Noted for Statement about the Future, etc.)

Description regarding the future such as the forecast of business results stated in this material is based on information which the Company has currently obtained and certain assumptions that the Company determines to be reasonable, and does not make assurances of the achievement thereof by the Company. Also, actual results, etc., may significantly differ from the forecast depending on various factors. For the conditions constituting the precondition of the forecast of business results and the matters to be noted in using the forecast of business results, etc., refer to "1. Qualitative Information of the Current Quarterly Closing (3) Explanation about Future Forecast Information, including Forecast of Consolidated Business Results" on p. 3 of the attached materials.

Table of Contents of Attached Materials


1. Qualitative Information of the Current Quarterly Closing

2

(1) Explanation about Business Results

2

(2) Explanation about Financial Conditions

3

(3) Explanation about Future Forecast Information,including Forecast of Consolidated Business Results

3

2. Quarterly Consolidated Financial Statements and Major Notes

4

(1) Consolidated Quarterly Financial Statements

4

(2) Quarterly Consolidated Profit and Loss Statement and Consolidated Statement of Comprehensive Income

6

Quarterly Consolidated Profit and Loss Statement


Consolidated Cumulative Second Quarter

6

Consolidated Statement of Comprehensive Income


Consolidated Cumulative Second Quarter

7

(3) Quarterly Consolidated Cash Flow Statement

8

(4) Notes to Quarterly Consolidated Financial Statements

10

(Notes to Assumptions on Going Concern)

10

(Explanatory Note in Case of Significant Changes in the Amount of Shareholders' Equity)

10

(Changes in Material Subsidiaries in the Current Consolidated Cumulative Quarter)

10

(Application of Accounting Particular to Preparation of Consolidated Quarterly Financial Statements)

10

(Changes in Accounting Policy)

10

(Changes in Accounting Estimate)

10

1. Qualitative Information of the Current Quarterly Closing

(1) Explanation about Business Results

The Japanese economy in the Current Consolidated Cumulative 2nd Quarter continued along a moderate recovery track, partly due to the effects from various policies implemented by the central government. On the other hand, a sense of uncertainty remains about the future outlook due to uncertain overseas economic conditions and the impact from fluctuations in financial and capital markets.

Under such a business environment, sales of the Company Group for the Consolidated Cumulative 2nd Quarter for the year ending March 31, 2018 were 3,486 million yen (3,989 million yen in the same quarter in the previous year), operating loss was 1,006 million yen (367 million yen in the same quarter in the previous year), ordinary loss was 295 million yen (550 million yen in the same quarter in the previous year), quarterly net profit attributable to owners of the parent was 1,903 million yen (quarterly net loss attributable to owners of the parent of 568 million yen in the same quarter in the previous year).

In this regard, in the Current Consolidated Cumulative 2nd Quarter, in connection with The Prospect Japan Fund Limited (hereinafter referred to as "TPJF") becoming a subsidiary, we recorded profit on negative goodwill of 2,420 million yen in extraordinary profit.

Business performance by segment is as follows.

In addition, the name of the reported segment has been changed since the Consolidated 1st Quarter. The previously named "Solar Business" has been renamed the "Renewable Energy Business" due to the start of the biomass related business. There is no other impact on the segment information other than the name change.

[1] Real Estate Sales Business, Condominium Sales Business

We mainly sell condominiums for general customers in the metropolitan area.

In the Current Consolidated Cumulative 2nd Quarter, we executed new contracts for 77 housing units at 3,015 million yen (91 housing units at 2,974 million yen in the same quarter in the previous year) and delivered 24 housing units and recorded sales of 766 million yen and segment loss of 40 million yen (6 housing units for sales of 230 million yen and segment loss of 152 million yen in the same quarter in the previous year).

[2] Real Estate Sales Business, Land and Buildings

We focus our sales on residential land and detached homes as well as individual buildings, etc.

In the Current Consolidated Cumulative 2nd Quarter, no contracts or sales results were recorded (contracts of 173 million yen, sales of 299 million yen and segment profit of 30 million yen in the same quarter in the previous year).

[3] Real Estate Sales Business, Custom-Made Homes

We undertake contract construction and reform construction for detached homes, etc., mainly in Yamagata Prefecture as a business area.

In the Current Consolidated Cumulative 2nd Quarter, we executed new contracts for 21 buildings of 590 million yen (13 buildings of 417 million yen in the same quarter in the previous year) and delivered 11 buildings and recorded sales of 476 million yen and a segment loss of 55 million yen (9 buildings, sales of 419 million yen and segment loss of 66 million yen in the same quarter in the previous year) (including reforms, etc.).

[4] Asset Management Business

We conduct management business of real estate and securities, comprised of Japanese stocks.

In the Current Consolidated Cumulative 2nd Quarter, we recorded sales of 132 million yen and segment profit of 19 million yen (sales of 174 million yen and segment profit of 62 million yen in the same quarter in the previous year).

[5] Construction Business

We conduct propulsion construction and pre-stressed concrete (PC) construction, etc.

In the Current Consolidated Cumulative 2nd Quarter, we recorded sales of 1,798 million yen and segment loss of 5 million yen (sales of 2,699 million yen and segment profit of 70 million yen in the same quarter in the previous year).

[6] Renewable Energy Business

We conduct renewable energy business, the main revenue source of which is the sale of electricity generated by PV, etc.

In the Current Consolidated Cumulative 2nd Quarter, we recorded sales of 293 million yen and segment profit of 116 million yen (sales of 132 million yen and segment profit of 63 million yen in the same quarter in the previous year).

[7] Other

For others, mainly as real estate lease business, we lease condominiums, etc., owned by the Company to general customers.

In the Current Consolidated Cumulative 2nd Quarter, we recorded sales of 18 million yen and segment profit of 5 million yen (sales of 33 million yen and segment profit of 21 million yen in the same quarter in the previous year).

(2) Explanation about Financial Conditions

Total assets at the end of the Current Consolidated 2nd Quarter were 39,162 million yen, an increase of 11,794 million yen as compared with the end of the previous consolidated fiscal year. This was due to an increase in cash and deposits and securities in connection with TPJF becoming a consolidated subsidiary, an increase in inventory assets in connection with the new purchase of land for the condominium sales business and the progress of projects, and an increase in tangible fixed assets related to capital investment in the renewable energy business, etc.

Liabilities at the end of the Current Consolidated 2nd Quarter were 15,316 million yen, an increase of 437 million yen as compared with the end of the previous consolidated fiscal year. This was due to an increase in borrowings as a result of new financing of project funds in the condominium sales business and capital investment funds, etc., in the renewable energy business, etc.

Net assets at the end of the Current Consolidated 2nd Quarter were 23,845 million yen, an increase of 11,356 million yen as compared with the end of the previous consolidated fiscal year. This was due to an increase in capital and capital surplus as a result of the issuance of new shares in connection with consolidation of TPJF, etc.

(3) Explanation about Future Forecast Information, including Forecast of Consolidated Business Results

With regard to the outlook for the future, improvement in the economic environment is expected due to the success of various economic policies. However, we must continue to keep a close eye on the uncertainty in overseas economic conditions and the impact from fluctuations in financial and capital markets.

Under such circumstances, the Company Group has proactively adopted M&A as a diversification strategy and has also expanded its asset management business as one of its important segments. As these businesses tend to be significantly affected by changes in economic conditions and market environment, it is extremely difficult to properly forecast and disclose ordinary business results. As there is a risk of misleading investors, etc., in disclosing business results forecast under such circumstances, the Company has adopted a policy to make timely disclosure of closing business results and a summary of the business to be conducted on a quarterly basis, and not to disclose a forecast of sales and a forecast of profits for the Fiscal Year ended March 31, 2018.

2. Quarterly Consolidated Financial Statements and Major Notes

(1) Consolidated Quarterly Financial Statements



(Unit: thousand yen)


Previous Consolidated
Fiscal Year
(March 31, 2017)

Current Consolidated
2nd Quarter
(September 30, 2017)

Assets



Current Assets



Cash and deposits

5,409,806

5,992,545

Notes and accounts receivable

295,664

542,210

Accounts receivable for completed construction projects

1,071,410

514,922

Accounts receivable for investment advisory fees

16,397

11

Securities

790,188

10,341,517

Real estate for sale

925,573

381,073

Real estate for sale in process

2,451,405

3,562,902

Real estate for development

476,221

311,847

Expenses for uncompleted construction projects

27,631

251,164

Raw materials and stores

21,088

13,048

Deferred tax assets

376,038

259,212

Other

1,137,521

2,629,865

Allowance for doubtful accounts

Up 49,358

Up 46,932

Total Current Assets

12,949,590

24,753,390

Fixed Assets



Tangible fixed assets



Buildings (net)

710,726

689,036

Machinery, equipment and delivery equipment (net)

3,372,631

3,262,124

Tools, furniture and fixtures (net)

53,093

45,645

Land

2,558,513

2,558,519

Construction in progress

891,705

2,000,378

Total tangible fixed assets

7,586,671

8,555,703

Intangible fixed assets



Goodwill

1,015,260

916,415

Software

17,602

18,152

Other

30,255

31,983

Total intangible fixed assets

1,063,118

966,550

Investments and other assets



Investment securities

114,546

114,546

Investments in capital

2,761,293

3,449,286

Long-term loans

2,445,624

1,003,423

Deferred tax assets

11,567

7,484

Other

1,076,068

964,485

Allowance for doubtful accounts

Up 640,442

Up 652,540

Total investments and other assets

5,768,658

4,886,685

Total Fixed Assets

14,418,447

14,408,940

Total Assets

27,368,038

39,162,330

(Unit: thousand yen)


Previous Consolidated
Fiscal Year
(March 31, 2017)

Current Consolidated
2nd Quarter
(September 30, 2017)

Liabilities



Current Liabilities



Notes and accounts payable

833,260

613,920

Accrued construction payment

1,759,135

762,091

Short-term borrowings

181,400

406,880

Bonds to be redeemed within a year

51,900

53,800

Current portion of long-term borrowings

1,798,503

4,025,406

Corporate income tax, etc., payable

244,108

154,611

Amount received for uncompleted construction projects

179,947

347,640

Reserve for bonuses

135,026

91,828

Reserve for officers' bonuses

12,420

-

Allowance for compensation for completed construction projects

11,375

11,872

Allowance for construction projects losses

16,700

6,300

Provision for loss on litigation

20,000

20,000

Other

655,190

1,241,893

Total Current Liabilities

5,898,968

7,736,244

Fixed Liabilities



Bonds

146,700

164,800

Long-term borrowings

7,854,349

6,503,577

Deferred tax liabilities

1,890

1,267

Net defined benefit liabilities

136,674

134,998

Reserve for retirement benefits for officers

114,822

141,157

Allowance for compensation for completed construction projects

201,995

201,995

Provision for loss on compensation expenses

23,000

23,000

Asset retirement obligations

11,179

11,183

Other

489,024

398,310

Total Fixed Liabilities

8,979,636

7,580,290

Total Liabilities

14,878,604

15,316,535

Net Assets



Shareholders' equity



Capital

4,257,256

10,940,558

Capital surplus

5,480,641

10,804,097

Retained earnings

1,838,718

3,232,662

Treasury stock

Up 140,002

Up 140,141

Total shareholders' equity

11,436,596

24,837,177

Accumulated other comprehensive income



Foreign currency translation adjustments

69,318

37,429

Total accumulated other comprehensive income

69,318

37,429

New share subscription rights

778,640

Up 1,227,189

Non-controlling interest

204,878

198,378

Total Net Assets

12,489,433

23,845,795

Total Liabilities and Net Assets

27,368,038

39,162,330

(2) Quarterly Consolidated Profit and Loss Statement and Consolidated Statement of Comprehensive Income

(Quarterly Consolidated Profit and Loss Statement)

(Consolidated Cumulative Second Quarter)

(Unit: thousand yen)


Previous Consolidated
Cumulative 2nd Quarter
(From April 1, 2016
To September 30, 2016)

Current Consolidated
Cumulative 2nd Quarter
(From April 1, 2017
To September 30, 2017)

Sales

3,989,352

3,486,452

Cost of Goods Sold

3,386,920

2,824,516

Gross Profit on Sales

602,431

661,936

Selling, General and Administrative Expenses

969,683

1,668,555

Operating loss (Up )

Up 367,252

Up 1,006,619

Non-operating Income



Interest income and dividend

216,831

171,417

Gain on investments in capital

-

711,557

Valuation gain on securities

-

5,760

Clerical affairs fee received

150

1,200

Penalties income

3,180

-

Foreign currency exchange profit

-

11,634

Reversal of allowance for doubtful accounts

16,135

-

Other

16,741

24,009

Total Non-operating Income

253,038

925,578

Non-operating Expenses



Interest expenses

152,610

166,724

Borrowing fees

9,827

8,414

Foreign currency exchange loss

245,457

-

Bond issuance cost

-

1,225

Transfer to allowance for doubtful accounts

-

3,301

Other

27,944

34,839

Total Non-operating Expenses

435,840

214,505

Ordinary Loss (Up )

Up 550,054

Up 295,546

Extraordinary Profits



Profit on sale of fixed assets

1,226

642

Profit on reversal of stock acquisition rights

7,593

8,320

Profit on negative goodwill

-

2,420,250

Total Extraordinary Profits

8,820

2,429,212

Extraordinary Losses



Retirement loss on fixed assets

0

0

Total Extraordinary Losses

0

0

Quarterly net profit or net loss before dividends distribution
from silent partnership, income taxes (Up )

Up 541,234

2,133,666

Dividends distribution from silent partnership

9,710

14,939

Quarterly net profit before taxes, etc. or quarterly net loss
before taxes, etc. (Up )

Up 550,944

2,118,726

Corporate income tax, resident tax and business tax payable

12,533

93,586

Adjustment of corporate income tax, etc.

4,743

120,020

Total corporate income tax, etc.

17,277

213,606

Quarterly net profit or quarterly net loss (Up )

Up 568,222

1,905,119

Quarterly net profit attributable to non-controlling interests

46

1,825

Quarterly net profit attributable to owners of the parent or quarterly
net loss attributable to owners of the parent (Up )

Up 568,269

1,903,294


(Consolidated Statement of Comprehensive Income)

(Consolidated Cumulative Second Quarter)



(Unit: thousand yen)


Previous Consolidated
Cumulative 2nd Quarter
(From April 1, 2016
To September 30, 2016)

Current Consolidated
Cumulative 2nd Quarter
(From April 1, 2017
To September 30, 2017)

Quarterly net profit or quarterly net loss (Up )

Up 568,222

1,905,119

Other comprehensive income



Foreign currency translation adjustments

Up 157,391

Up 37,553

Total other comprehensive income

Up 157,391

Up 37,553

Quarterly comprehensive income

Up 725,613

1,867,565

(Breakdown)



Quarterly comprehensive income attributable to owners of the parent

Up 702,445

1,871,404

Quarterly comprehensive income attributable to non-controlling interests

Up 23,167

Up 3,838

(3) Quarterly Consolidated Cash Flow Statement

(Unit: thousand yen)


Previous Consolidated
Cumulative 2nd Quarter
(From April 1, 2016
To September 30, 2016)

Current Consolidated
Cumulative 2nd Quarter
(From April 1, 2017
To September 30, 2017)

Cash flow from operating activities



Quarterly net profit before taxes, etc. or quarterly net loss
before taxes, etc. (Up )

Up 550,944

2,118,726

Depreciation

95,050

151,335

Stock compensation expense

45,585

43,715

Depreciation of goodwill

98,845

98,845

Bond issuance cost

-

1,225

Profit on negative goodwill

-

Up 2,420,250

Increase/decrease in allowance for doubtful accounts (Up : decrease)

Up 16,135

9,671

Increase/decrease in allowance for bonuses (Up : decrease)

43,871

Up 43,198

Increase/decrease in reserve for officers' bonuses (Up : decrease)

Up 10,256

Up 12,420

Increase/decrease in allowance for compensation for
completed construction projects (Up : decrease)

Up 6,646

497

Increase/decrease in allowance for construction
projects losses (Up : decrease)

Up 2,200

Up 10,400

Increase/decrease in net defined benefit liabilities (Up : decrease)

15,055

Up 1,675

Increase/decrease in officers' retirement allowance (Up : decrease)

7,846

26,335

Interest income and dividend income

Up 216,831

Up 171,417

Profit on reversal of stock acquisition rights

Up 7,593

Up 8,320

Profit/loss on investment in silent partnership (Up : profit)

19,587

22,351

Interest expenses

152,610

166,724

Valuation profit/loss on investment securities (Up : profit)

-

Up 5,760

Profit/loss on operation of investments in capital (Up : profit)

-

Up 711,557

Profit/loss on foreign currency exchange difference (Up : profit)

245,457

Up 11,634

Profit/loss on sale of fixed assets (Up : profit)

Up 1,226

Up 642

Dividends distribution from silent partnership

-

6,446

Increase/decrease in accounts receivable (Up : increase)

1,472,943

328,550

Increase/decrease in advance received (Up : decrease)

275,391

294,507

Increase/decrease in inventory assets (Up : increase)

Up 1,257,462

Up 651,867

Increase/decrease in trades payable (Up : decrease)

Up 934,916

Up 384,434

Increase/decrease in operating investment securities (Up : increase)

Up 678,511

103,087

Increase/decrease in advance payment (Up : increase)

Up 118,543

Up 201,082

Increase/decrease in receivables (Up : increase)

Up 74,467

271,662

Other

Up 99,365

Up 73,344

Subtotal

Up 1,502,857

Up 1,064,321

Interest and dividends received

64,815

89,682

Interest paid

Up 154,573

Up 62,715

Corporate income tax, etc., refunded

1,524

-

Corporate income tax, etc., paid

Up 22,680

Up 173,314

Cash flow from operating activities

Up 1,613,771

Up 1,210,669




(Unit: thousand yen)


Previous Consolidated
Cumulative 2nd Quarter
(From April 1, 2016
To September 30, 2016)

Current Consolidated
Cumulative 2nd Quarter
(From April 1, 2017
To September 30, 2017)

Cash flow from investing activities



Expenditure for acquisition of tangible fixed assets

Up 1,909,275

Up 1,948,762

Revenue from sale of tangible fixed assets

-

Up 6,128

Expenditure for acquisition of securities

-

Up 11,972

Revenue from redemption of investment securities

47

-

Revenue from sale of investment real estate

5,269

1,431

Expenditure for payment of investments in capital

Up 515,528

-

Revenue from acquisition of shares of a subsidiary
accompanying the change in scope of consolidation

-

2,935,110

Expenditure for loans

Up 201,117

-

Revenue from collection of loans

117

214

Cash flow from investing activities

Up 2,620,485

969,893

Cash flow from financing activities



Revenue from short-term borrowings

280,000

637,300

Expenditure for repayment of short-term borrowings

Up 130,100

Up 411,820

Expenditure for repayment of installment liabilities

Up 5,305

Up 3,521

Revenue from long-term borrowings

3,170,500

1,317,000

Expenditure for repayment of long-term borrowings

Up 918,018

Up 384,745

Revenue from issuance of bonds

-

48,775

Expenditure for redemption of bonds

Up 28,200

Up 30,000

Revenue from issuance of shares due to exercise of stock acquisition rights

-

Up 320

Expenditure for acquisition of treasury stock

Up 68,652

Up 120

Dividends paid

Up 167,980

Up 503,756

Dividends paid to non-controlling interests

Up 2,660

Up 2,660

Revenue from payment by the contributors of silent partnership

17,600

160,000

Cash flow from financing activities

2,147,182

826,130

Translation differences in cash and cash equivalents

Up 11,759

Up 2,615

Increase/decrease in cash and cash equivalents (Up : decrease)

Up 2,098,833

582,739

Cash and cash equivalents at the beginning of period

5,924,530

5,379,806

Cash and cash equivalents at the end of period

3,825,697

5,962,545

(4) Notes to Quarterly Consolidated Financial Statements

(Notes to Assumptions on Going Concern)

No applicable matter.

(Explanatory Note in Case of Significant Changes in the Amount of Shareholders' Equity)

During the second quarter, new shares were issued to acquire TPJF. New shares were also issued due to the exercise of 10,000 units of the stock acquisition rights No.2. As a result, there was an increase in "Capital" of 6,683,302 thousand yen and an increase in "Capital Surplus" of 5,323,456 thousand yen. At the end of the second quarter, "Capital" was 10,940,558 thousand yen and "Capital Surplus" was 10,804,097 thousand yen.

(Changes in Material Subsidiaries in the Current Consolidated Cumulative Quarter)

During the second quarter, we made TPJF a fully-owned subsidiary and included it in the scope of consolidation.

TPJF is a specified subsidiary.

(Application of Accounting Particular to Preparation of Consolidated Quarterly Financial Statements)

No applicable matter.

(Changes in Accounting Policy)

No applicable matter.

(Changes in Accounting Estimate)

No applicable matter.

Closing of Second Quarter of the Fiscal Year Ending March 21, 2018: Supplementary Explanation Material

http://mma.prnewswire.com/media/602764/Second_Quarter_Results.jpg

Related Links

http://www.prospectjapan.co.jp

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.