ROHM Co., Ltd. Financial Highlights for the First Six Months of... (From April 1, 2015 to September 30, 2015) November 5, 2015

ROHM Co., Ltd. Financial Highlights for the First Six Months of... (From April 1, 2015 to September 30, 2015) November 5, 2015
ROHM Co., Ltd. Financial Highlights for the First Six Months of the Year Ending March 31, 2016
(From April 1, 2015 to September 30, 2015)
November 5, 2015
1. Consolidated Financial Results
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
'16/3
'15/3
First six
months
First six
months
Change from
the previous year
'15/3
'16/3 (Projected)
Annual
Annual the previous
Change from
Amount
Percentage
year
Net sales
Millions of
yen
189,636
182,262
+7,374
+4.0%
362,772
363,000
Cost of sales
Millions of
yen
121,299
119,099
+2,200
+1.8%
235,042
239,000
Selling, general and
administrative expenses
Millions of
yen
44,912
41,929
+2,983
+7.1%
88,929
90,000
Operating income (loss)
Millions of
yen
23,424
21,233
+2,191
+10.3%
38,800
34,000
(12.4%)
(11.7%)
(+0.7%)
(10.7%)
(9.4%)
32,705
28,440
+4,265
59,218
40,000
(17.2%)
(15.6%)
(+1.6%)
(16.3%)
(11.0%)
26,180
21,521
+4,659
45,296
31,000
(13.8%)
(11.8%)
(+2.0%)
(12.5%)
(8.5%)
245.79
199.63
+46.16
420.16
291.97
Ordinary income (loss)
Profit attributable to owers of
parent
Millions of
yen
Millions of
yen
+15.0%
+21.6%
+0.1%
-12.4%
-32.5%
-31.6%
Figures in ( ) indicate ratio to sales.
Net income (loss) per share
yen
Net income to equity
%
6.4
Ordinary income to total assets
%
7.3
+23.1%
Total assets
Millions of
yen
836,014
813,679
+22,335
+2.7%
864,380
Net assets
Millions of
yen
730,743
706,136
+24,607
+3.5%
752,433
Equity ratio
%
87.4
86.7
+0.7
Net assets per share
yen
6,903.81
6,546.09
+357.72
+5.5%
6,975.07
Capital expenditures
Millions of
yen
26,560
22,983
+3,577
+15.6%
48,739
65,000
+33.4%
Depreciation
Millions of
yen
18,168
14,786
+3,382
+22.9%
34,467
40,800
+18.4%
Research and development
costs
Millions of
yen
20,478
18,959
+1,519
+8.0%
39,996
40,900
+2.3%
Net financial revenue
Millions of
yen
1,415
1,060
+355
+33.5%
2,388
Foreign exchange
gains(losses)
Millions of
yen
(gain) 7,625
(gain) 5,901
(gain) 1,724
121.50
103.51
+17.99
Foregin exchange rate
(Average yen-dollar rate)
(Note)
yen/US$
87.0
(gain) 17,871
+17.4%
110.03
(Second half)
115.00
As the projected data are based on the information that ROHM is currently acquiring as well as specific prerequisites judged as legitimate, actual data may be
considerably different due to various factors.
Contact: Public Relations and Investor Relations Div., ROHM Co., Ltd.
21, Saiin Mizosaki-cho, Ukyo-ku, Kyoto 615-8585 Japan +81-75-311-2121
Note:This report is a translation of the financial highlights of the Company prepared in accordance with the provisions set forth in the Securities and Exchange Law
and its related accounting regulations, and in conformty with accounting principles generally accepted in Japan. The original version of this report is written in
Japanese. In the event of any discrepancies in words, accounts, figures, or the like between this report and the original, the original Japanese version shall govern.
- Fi nanci al Hi ghl i ghts 1 -
1. Consolidated Financial Results (Continued from the previous page)
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
'16/3
'15/3
First six
months
First six
months
Change from
the previous year
'15/3
'16/3 (Projected)
Amount Percentage
Annual
Annual
Change from
the previous
year
Sales by segment and region
(Note1)
ICs
Millions of
yen
88,140
85,803
+2,337
+2.7%
169,916
169,088
-0.5%
(Japan)
(24,349)
(24,311)
(+38)
(+0.2%)
(48,557)
(49,411)
(+1.8%)
(Asia)
(58,340)
(54,242)
(+4,098)
(+7.6%)
(107,481)
(109,323)
(+1.7%)
(Americas)
(3,274)
(4,454)
(-1,180)
(-26.5%)
(8,463)
(6,086)
(-28.1%)
(Europe)
(2,175)
(2,794)
(-619)
(-22.1%)
(5,413)
(4,267)
(-21.2%)
66,999
65,375
+1,624
+2.5%
129,047
128,578
-0.4%
(Japan)
(18,264)
(19,187)
(-923)
(-4.8%)
(36,942)
(37,345)
(+1.1%)
(Asia)
(40,622)
(38,665)
(+1,957)
(+5.1%)
(76,824)
(76,149)
(-0.9%)
(Americas)
(4,394)
(3,908)
(+486)
(+12.4%)
(8,112)
(8,174)
(+0.8%)
(Europe)
(3,718)
(3,614)
(+104)
(+2.9%)
(7,168)
(6,909)
(-3.6%)
Discrete semiconductor devices
Modules
20,974
17,504
+3,470
+19.8%
36,083
38,604
+7.0%
(4,128)
(4,130)
(-2)
(-0.1%)
(8,099)
(8,342)
(+3.0%)
(15,115)
(11,645)
(+3,470)
(+29.8%)
(24,625)
(26,833)
(+9.0%)
(725)
(694)
(+31)
(+4.5%)
(1,287)
(1,354)
(+5.2%)
(1,004)
(1,033)
(-29)
(-2.8%)
(2,071)
(2,074)
(+0.1%)
13,522
13,579
-57
-0.4%
27,725
26,727
-3.6%
(Japan)
(3,568)
(4,095)
(-527)
(-12.9%)
(8,155)
(8,307)
(+1.9%)
(Asia)
(7,970)
(7,650)
(+320)
(+4.2%)
(15,763)
(14,720)
(-6.6%)
(Japan)
(Asia)
(Americas)
(Europe)
Others
(Americas)
(Europe)
Total
(Japan)
(899)
(808)
(+91)
(+11.3%)
(1,678)
(1,639)
(-2.3%)
(1,084)
(1,025)
(+59)
(+5.7%)
(2,128)
(2,059)
(-3.2%)
189,636
182,262
+7,374
+4.0%
362,772
363,000
+0.1%
(50,309)
(51,724)
(-1,415)
(-2.7%)
(101,754)
(103,407)
(+1.6%)
(122,049) (112,204)
(+9,845)
(+8.8%)
(224,694)
(227,026)
(+1.0%)
(Americas)
(9,294)
(9,865)
(-571)
(-5.8%)
(19,541)
(17,255)
(-11.7%)
(Europe)
(7,983)
(8,468)
(-485)
(-5.7%)
(16,781)
(15,310)
(-8.8%)
35.3
35.7
-0.4
34.6
Telecommunications
12.9
11.7
+1.2
12.4
Automotive
26.4
26.5
-0.1
27.2
Industrial
10.8
10.9
-0.1
11.0
Computers and OA
14.6
15.2
-0.6
14.8
(Asia)
Sales by application (Note2)
Consumer
%
Major End Products
Consumer
TV, Recorder/Player, Video Camera, Memory Audio, Microwave Oven, Air Conditioner,
Refrigerator, Washing Machine, Air Cleaner, Digital Still Camera, Game Machine,
Watch, Electronic Musical Instrument, OEM Sales, Lighting Equipment, etc.
Telecommunications
Mobile Phone, FAX, Wearable Electronics(excludes Medical Equipment), etc.
Automotive
Engine Control Unit, Air Bag, Car Navigation, Car Audio, etc.
Industrial
Medical Equipment, Electrical Measuring Equipment, Machine Tool, Vending Machine,
Solar Power, Smart Meter, Security Equipment, Communications Infrastructures, etc.
Computers and OA
PC, Server, Tablet PC, Printer, Data Storage(DVD, HDD, Semiconduntor Memory),
Monitor, Terminal, etc.
(Note1) The above amounts are sales to external customers.
(Note2) Sales by application for '15/3 is modified since the classification method of sales by application is changed from this period.
- Fi nanci al Hi ghl i ghts 2
-
2.Relevant information
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
'16/3
'15/3
First six
months
First six
months
Change from the
previous year
'15/3
Amount Percentage
Annual
'16/3 (Projected)
Change from
Annual the previous
year
Capital expenditures by segment
Millions of
yen
ICs
12,467
11,013
+1,454
+13.2%
24,031
23,600
-1.8%
Discrete semiconductor devices
8,354
6,992
+1,362
+19.5%
15,784
23,300
+47.6%
Modules
1,276
2,912
-1,636
-56.2%
4,362
4,700
+7.7%
791
1,458
-667
-45.7%
2,188
6,800
+210.8%
3,670
605
+3,065
+505.8%
2,373
6,600
+178.1%
26,560
22,983
+3,577
+15.6%
48,739
65,000
+33.4%
Yen
65.0
45.0
+20.0
(Yen)
(0.0)
(0.0)
(0.0)
(130.0)
(130.0)
28,051
22,265
+5,786
Others
Sales and administrative division
Total
Interim cash dividends
(Annual cash dividends)
Number of shareholders
Number
+26.0%
23,973
Financial institution shareholding ratio
%
23.54
28.19
-4.65
27.09
Foregin shareholding ratio
%
43.37
44.90
-1.53
44.26
Domestic
Number
5,381
5,265
+116
+2.2%
5,287
Overseas
Number
15,719
15,009
+710
+4.7%
15,556
Total
Number
21,100
20,274
+826
+4.1%
20,843
(3,013)
(2,913)
(+100)
(+3.4%)
(2,915)
47
47
0
46
(Domestic) (Number)
(12)
(11)
(+1)
(11)
(Overseas) (Number)
(35)
(36)
(-1)
(35)
3
3
0
3
(0)
(0)
(0)
(0)
2
2
0
2
(0)
(0)
(0)
(0)
Number of employees
(Number of R&D employees) (Number)
Number of consolidated subsidiaries
Number
Number of affiliated companies
Number
(Number of companies accounted for by equity method) (Number)
Number of non-consolidated subsidiaries
Number
(Number of companies accounted for by equity method) (Number)
- Fi nanci al Hi ghl i ghts 3 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
Financial Report for the First Six Months of the Year Ending March 31, 2016
[Based on Japanese Standard] (Consolidated)
November 5, 2015
Listed Company Name: ROHM CO., LTD.
Stock Exchange Listings: Tokyo
Code No.:
6963
URL http://www.rohm.com
Company Representative: (Title) President
(Name) Satoshi Sawamura
Contact Person:
(Title) Director, Accounting Headquarters
(Name) Eiichi Sasayama
TEL +81-75-311-2121
Scheduled Date for Submitting the Quarterly Financial Reports
November 10, 2015
Scheduled Dividend Payment Date
December 4, 2015
Preparation of Supplementary Briefing Materials for the Quarterly Settlement:
Yes
Briefing Session for the Quarterly Settlement to Be Held:
Yes (For analysts and institutional investors)
(Figures are rounded down to the nearest million yen.)
1. Consolidated Financial Results for the First Six Months of the Year Ending March 31, 2016 (From April 1, 2015 to September 30,
2015)
(1) Consolidated Results of Operations (Accumulated total)
(The percentages [%] represent change from the same time of the previous year.)
Net sales
Operating income
% Millions of yen
Millions of yen
First six months of the year
ending March 31, 2016
First six months of the year
ended March 31, 2015
(Note) Comprehensive income
Profit attributable to owners
of parent
% Millions of yen
%
Ordinary income
% Millions of yen
189,636
4.0
23,424
10.3
32,705
15.0
26,180
21.6
182,262
8.5
21,233
105.4
28,440
69.9
21,521
75.8
First six months of the year ending March 31, 2016:
First six months of the year ended March 31, 2015:
Net income per share
Yen
First six months of the year
ending March 31, 2016
First six months of the year
ended March 31, 2015
4,480million yen (-89.8%)
44,085million yen (90.4%)
Diluted net income per share
Yen
245.79
―
199.63
―
(2) Consolidated Financial Position
Total assets
Millions of yen
First six months of the year
ending March 31, 2016
Year ended March 31, 2015
(Reference) Shareholder’s equity
Net assets
Millions of yen
Equity ratio
%
730,743
836,014
87.4
864,380
752,433
First six months of the year ending March 31, 2016: 730,260 million yen
Year ended March 31, 2015:
751,937 million yen
87.0
2. Dividend Details
Year ended March 31, 2015
End of the first quarter
Yen
―
Interim
Year ending March 31, 2016
―
Year ending March 31, 2016
(Estimates)
(Note) Revision to recently disclosed dividend estimates: None
Annual dividend
End of the third quarter
Yen
Yen
45.00
―
65.00
―
End of year
Total
Yen
85.00
Yen
130.00
65.00
130.00
3. Consolidated Financial Results Forecast for the Year Ending March 31, 2016 (From April 1, 2015 to March 31, 2016)
(The percentages [%] represent change from the previous year.)
Net sales
Operating income
Profit attributable to
owners of parent
% Millions of yen
%
-32.5
31,000 -31.6
Ordinary income
Millions of yen
% Millions of yen
% Millions of yen
Annual
363,000
0.1
34,000 -12.4
40,000
(Note) Revision to recently disclosed figures for consolidated financial results forecast: Yes
-1-
Net income
per share
Yen
291.97
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
*Note
(1) Major Changes in Subsidiaries During the First Six Months of the Current Fiscal Year
(Changes to specified subsidiaries accompanying revision on the scope of consolidation): None
New company
- (Company name:
Excluded company - (Company name:
)
)
(2) Application of Specific Accounting Method for Compiling Consolidated Quarterly Financial Statement: None
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions
[1] Changes in accounting policies according to revision to accounting standards:
Yes
[2] Other changes in accounting policies other than items indicated in [1]:
None
[3] Change in accounting estimates:
None
[4] Restatement of revisions:
None
(Note) Please refer to “2. Items Regarding Summary Information (Note), (3) Changes in Accounting Policies, Changes in
Accounting Estimates, and Restatement of Revisions” on Page 6 of the Financial Report for the First Six Months of the Year
Ending March 31, 2016 (Appendix).
(4) Number of Shares Outstanding (common shares)
[1] Year-end number of
shares outstanding
(incl. treasury stocks)
First six months of the
year ending March 31,
2016
113,400,000,shares
Year ended March 31,
2015
113,400,000,shares
[2] Year-end number of
treasury stocks
First six months of the
year ending March 31,
2016
7,623,441,shares
Year ended March 31,
2015
5,596,799,shares
[3] Average number of
shares during the
period (Accumulated
total of the quarter)
First six months of the
year ending March 31,
2016
106,517,381,shares
First six months of the
year ended March 31,
2015
107,805,123,shares
*Description Regarding Implementation Status of Quarterly Review Procedures
This quarterly financial report is not applicable to the quarter review procedures based on Financial Instruments and Exchange Act.
At the time of disclosure of this quarterly financial report, the review procedure of the quarterly financial statement based on
Financial Instruments and Exchange Act had been completed.
*Explanation on Adequate Usage of Financial Results Forecast
Statements on financial results forecasts in this financial report are based on current information acquired by ROHM as well as
specific legitimate premises for making decisions, therefore ROHM makes no promises as to attaining these forecasts.
Actual financial results may be considerably different due to various factors. For conditions and notes used for making prepositions
of financial forecasts, please refer to “1. Qualitative Information Regarding Business Results, etc. for the First Six Months of the
Current Fiscal Year, (3) Qualitative Information Regarding Consolidated Financial Results Forecast” on Page 5 of the Financial
Report for the First Six Months of the Year Ending March 31, 2016 (Appendix).
-2-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
Table of Contents
1. Qualitative Information Regarding Business Results, etc. for the First Six Months of the Current Fiscal Year ......................
2
(1) Business Results ................................................................................................................................................................
2
(2) Financial Conditions ..........................................................................................................................................................
4
(3) Qualitative Information Regarding Consolidated Financial Results Forecast ....................................................................
5
2. Items Regarding Summary Information (Note) .......................................................................................................................
6
(1) Major Changes in Subsidiaries During the First Six Months of the Current Fiscal Year ...................................................
6
(2) Application of Specific Accounting Procedure for Compiling Consolidated Quarterly Financial Statement ....................
6
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions ................................
6
3. Consolidated Quarterly Financial Statements ..............................................................................................................
7
(1) Consolidated Quarterly Balance Sheet ................................................................................................................................
7
(2) Consolidated Quarterly Statement of Income and Consolidated Quarterly Statement of Comprehensive Income .............
9
(Consolidated quarterly statement of income) ....................................................................................................................
9
(First six months of the year ending March 31, 2016) ........................................................................................................ 10
(3) Consolidated Quarterly Statements of Cash Flows ............................................................................................................. 11
(4) Note on Consolidated Quarterly Financial Statement ......................................................................................................... 12
(Note on going concern) ..................................................................................................................................................... 12
(Note in case of significant change in amount of shareholders’ equity).............................................................................. 12
(Segment information etc.) ................................................................................................................................................. 12
4. Supplementary Information ..................................................................................................................................................... 13
Orders ................................................................................................................................................................................... 13
* Separately attached as supplementary material are “Financial Highlights for the First Six Months of the Year Ending March 31,
2016.”
- 1 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
1. Qualitative Information Regarding Business Results, etc. for the First Six Months of the Current Fiscal Year
(1) Business Results
General Overview of Business Performance
The world economy in the first six months of the fiscal year ending in March 2016 held firm on the whole, despite slowing
economic growth in China and other concerns, as mild upturns in Europe and Japan added to the paced recovery in the USA.
By individual regions, the US economy remained in good shape as the continuing recovery in personal spending and housing
investment added to the rise in new jobs. Europe stayed on a recovery track thanks to a strong showing by Germany and the UK,
and limited impact from fears many harbored over a possible financial failure in Greece. In Asia, China's growth rate slowed due
to a pullback in real-estate markets and falling investment in capital equipment, which caused the economies in Korea, Thailand
and elsewhere in the region to lose speed. In Japan, though exports were sluggish, the economy transitioned to a more bullish
tone as business earnings stayed in positive territory and hiring continued on the benefits of a persistently weaker yen.
In the electronics industry, the numbers were adversely affected not only by the slowdown in China but also by continued
sluggishness in the camera market and a lifeless tone in the personal computer market stemming from the increasing growth and
diffusion of tablets, but yet the smartphone market continued growing at a fast rate and markets for 4K TVs *1 and high
resolution audio devices *2 were firm. The automotive electronics market held steady against falling vehicle sales in Japan and
the Asian region, thanks to continued rise in use of in-vehicle electronics and strong vehicle sales in the USA as well as Europe.
Working within this business environment, the ROHM Group continued to implement important strategies aimed at
improving performance in the mid- to long-term. With regards to products, efforts were directed at expanding lineups via the 4
‘growth engines’ of [1] IC synergy (with LAPIS Semiconductor Co., Ltd.), [2] SiC-based power devices and power module
products, [3] optical devices and related products, and [4] sensor-related products. In current product fields, time and resources
were focused on developing and increasing sales of new industry-leading products like the RASMID ® series *3 of ultraminiaturized components. More specifically, the ROHM Group strengthened its lineups of major ICs and semiconductors for the
automotive and industrial equipment markets, both of which are treated as strategic markets. As for SiCs, development moved
forward on new products in anticipation of market needs, such as the world's first trench MOSFET *4. Development focus was
also on the industry's first communication IC compliant with CXPI *5, ICs for monitoring lithium ion batteries, power ICs for
tablets in the consumer market and microcontoroller boards with 920 MHz wireless communication capabilities. Moreover,
development of digital power ICs was accelerated by purchasing Powervation Ltd. (now Rohm Powervation Ltd.), a fabless
semiconductor company that develops and sells digital power control ICs.
Overseas, the ROHM Group continued efforts to strengthen customer support systems as a means for increasing both sales
and market share.
On the production front, the ROHM Group continued to promote RPS (ROHM Production System) activities *6 aimed at
enhancing both the quality and efficiency of manufacturing, and worked to increase the production capacity of state-of-the-art
analog ICs processes such as 300 mm wafers. Furthermore, it was decided to acquire the production lines of the Shiga Factory
from a subsidiary of Renesas Electronics Corporation in preparation for increased demand for MEMS sensors and IGBT *7
power devices. Relations with overseas customers were also strengthened via our quality improvement efforts, which led to an
excellent supplier award from a major automotive electronics manufacturer outside of Japan.
Under these circumstances, consolidated net sales for the first six months of the fiscal year ending March 31, 2016 were
189,636 million yen (an increase of 4.0% from the same time last year) and operating income was 23,424 million yen (an
increase of 10.3% from the same time last year).
Ordinary income with foreign currency exchange gains was 32,705 million yen (an increase of 15.0% from the same time last
year) and quarterly net income belonging to parent company shareholders was 26,180 million yen (an increase of 21.6% from
the same time last year).
*1 4K TV
A TV with 4 times the pixels of a full high-definition TV.
*2 High resolution audio
Media that holds more than 3 times the data and can play back high quality audio closer to the original sound than what was
achievable with conventional music CDs.
*3 RASMID® (ROHM Advanced Smart Micro Device) Series
The smallest lineup of components in the world, developed utilizing breakthrough manufacturing methods for
unprecedented miniaturization and ultra-high dimensional precision (±10μm).
*4 MOSFET
Short for Metal Oxide Semiconductor Field Effect Transistor. This type of transistor enables faster switching with less
power consumption than bipolar transistors, and is widely used in a variety of electronic products.
- 2 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
*5 CXPI (Clock Extension Peripheral Interface)
A next-generation in-vehicle communication standard adopted by the Society of Automotive Engineers of Japan, Inc.
(JSAE). Though originated in Japan, efforts are underway to make it an international standard. The interface offers better
communication response and reliability than the LINs *8 that are used in body control applications for communication
amongst ECUs *9.
* 6 RPS (Rohm Production System) Activities
A production system centered on improvement activities for integrating higher quality into products, shortening lead time
and thoroughly eliminating waste in inventory and other operations at all group plants. ROHM believes that establishing
production systems of unparalleled efficiency and quality is essential for strengthening the group’s earning structure.
*7 IGBT
Short for Insulated Gate Bipolar Transistor, a semiconductor that combines the best features of a MOSFET and bipolar
transistor, making it ideal for power control applications.
*8 LIN (Local Interconnect Network)
An in-vehicle communication standard for multiplex communications advocated primarily by auto manufacturers in Europe
as a means for reducing the costs of in-vehicle networks. It is used in body control applications for communication amongst
ECUs.
*9 ECU (Electric Control Unit)
The microcontroller that electrically controls in-vehicle systems for powering a vehicle. ECUs are mounted on many cars
and especially on luxury vehicles.
Overview of Performance by Segment
<ICs>
Consolidated net sales for the first six months of the year ending March 31, 2016 were 88,140 million yen (an increase of
2.7% from the same time last year) and segment income was 7,735 million yen (an decrease of 40.5% from the same time last
year).
In the automotive sector, sales increased overall, despite an adjustment in power ICs for car navigation systems, as
manufacturers newly adopted power ICs for ECUs, power trains and rear lamps, and expanded use of LED driver ICs for
instrument clusters overseas.
In the digital AV field, power ICs for flat panel modules went into an adjustment phase, while system ICs and power ICs for
audio sold well. In the IT related markets, sensors for detecting air pressure, color and acceleration were adopted more widely
with smartphones, while the personal computer market saw a drop in sales of power ICs for tablets and data storage.
In the industrial equipment market, sales of general-purpose power ICs slumped, but sales of ICs for factory automation and
measuring instruments, HEMS and BEMS *10, and medical equipment were steady.
With regard to group company Lapis Semiconductor Co., Ltd., memory ICs for gaming devices lacked the zeal of the
previous year, but sales of display drivers for high resolution TVs increased considerably.
*10 HEMS (Home Energy Management System)/BEMS (Building Energy Management System)
A HEMS is a system for managing energy consumption in a home. A BEMS is a similar system, but for buildings. Though
they serve different targets, both systems connect power meters, solar power systems, storage batteries, home appliances
and other equipment over a network, visualize power consumption and economically manage equipment, using sensors
and IT.
<Discrete Semiconductor Devices>
Consolidated net sales for the first six months of the year ending March 31, 2016 were 66,999 million yen (an increase of
2.5% from the same time last year) and segment income was 11,441 million yen (an increase of 28.6% from the same time last
year).
With regard to transistors, steady sales were recorded with small-signal transistors for general-purpose applications and power
MOSFETs for automotive electronics and office equipment. As for diodes, sales of small-signal diodes for smartphones and
power diodes for automotive electronics were firm. Regarding power devices, sales of SiC devices and modules for solar power
systems and EV (Electric Vehicle) onboard chargers grew, while sales of customized power modules slumped. With LEDs,
demand from gaming devices was strong, while demand for ultra-small LEDs used in wearable electronics fell. Sales of lasers
for reading optical disks were slow.
- 3 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
<Modules>
Consolidated net sales for the first six months of the year ending March 31, 2016 were 20,974 million yen (an increase of
19.8% from the same time last year) and segment income was 3,818 million yen (an increase of 364.2% from the same time last
year).
Sales of printheads for faxes decreased, but those for mini-printers used for mobile payment terminals increased.
As for optical modules, sales of ultra-small sensor modules for smartphones and wearable electronics increased greatly.
Sales of power modules to the automotive electronics market and elsewhere slumped.
<Others>
Consolidated net sales for the first six months of the year ending March 31, 2016 were 13,522 million yen (a decrease of 0.4%
from the same time last year) and segment income was 881 million yen (against a segment loss of 836 million yen in the same
time last year).
Sales of resistors to the automotive and office equipment markets increased, while sales of ultra-small tantalum capacitors for
smartphones grew steadily in the first six months of the year, but have since entered an adjustment phase.
With regard to LED lighting products, sales of straight-tube LEDs grew, but overall sales slumped because of competitive
pricing of products for large volume retailors.
Sales mentioned above were to customers outside of the ROHM Group.
(2) Financial Conditions
At the end of the first six months of the fiscal year ending in March 2016, total assets of the ROHM Group decreased by
28,366 million yen from the end of the previous fiscal year, to 836,014 million yen. The primary factors behind this were
decreases respectively of 13,693 million yen in securities, 8,858 million yen in investments and other assets (of which 8,424
million yen were long-term deposits), 7,269 million yen in inventories, 6,911 million yen in investment securities, and 5,783
million yen in cash and deposits, and increases respectively of 7,941 million yen in intangible assets and 5,091 million yen in
notes and accounts receivable (trade).
Liabilities decreased by 6,676 million yen from the end of the previous fiscal year, to 105,270 million yen. The primary
factors behind this were decreases respectively of 2,984 million yen in deferred tax liabilities, 1,948 million yen in notes and
accounts payable (trade) and 1,456 million yen in accounts payable (other), and an increase of 1,538 million yen in total current
liabilities (of which 1,220 million yen were accrued expenses).
Net assets decreased by 21,690 million yen from the end of the previous fiscal year, to 730,743 million yen. This owed
primarily to a decrease of 17,005 million yen due to our purchase of treasury shares, decreases respectively of 16,416 million
yen in foreign currency translation adjustments and 5,548 million yen in valuation difference on available-for-sale securities, and
an increase of 17,018 million yen in retained earnings that were posted as quarterly net income belonging to parent company
shareholders.
As a result, equity ratio increased from the 87.0% from the end of the previous fiscal year, to 87.4%.
Cash flows were as follows.
Cash flows from operating activities increased by 9,772 million yen from the same quarter of the previous year (a positive
cash flow of 30,512 million yen), to 40,284 million yen. The positive factors behind this were increases in depreciation and
income before income taxes and minority interests, and a decrease in notes and accounts receivable (trade), while a reversal in
notes and accounts payable (trade) from a decrease to an increase worked negatively against that.
Cash flow from investing activities was a negative 3,627 million yen after a decrease in outlays of 57,388 million yen against
the same quarter of the previous year (a negative cash flow of 61,015 million yen). This was mainly due to a reversal in time
deposits from an increase to a decrease, which had a positive effect on cash flow, and an increase in outlays from the purchase of
property, plants and equipment, which had a negative impact on cash flow.
Cash flow from financing activities was a negative 26,200 million yen after an increase in outlays of 22,920 million yen
against the same quarter of the previous year (a negative cash flow of 3,280 million yen). This was mainly due an increase in
outlays from the purchase of treasury shares and an increase in cash dividends paid.
After adding a decrease of 6,908 million yen due to exchange rate conversion differences, cash and cash equivalents for first
six months of the current fiscal year increased by 3,548 million yen from the end of the previous year, to 226,216 million yen.
- 4 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
(3) Qualitative Information Regarding Consolidated Financial Results Forecast
The world economy in the first six months of fiscal 2016 was underscored by a recovery tone led by a paced recovery in the
US economy and milder recoveries in Europe and Japan, but because of slowing growth in China and the slowdown that it is
causing in the Asian economies, the current recovery trend is expected to remain weak.
In the electronics market, personal computers and other products are likely to be impacted by market saturation, while slight
adjustments are thinkable in the smartphone, automotive electronics and industrial equipment markets.
Under these circumstances, the ROHM Group will be working to reduce costs via RPS activities on the one hand, while
making a concerted effort to increase sales on the other, by continuing to increase sales to the automotive electronics and
industrial equipment markets, where long-term growth is expected, strengthen customer support overseas and focus ourselves on
the 4 ‘growth engines.’
Given the situation described above, we have revised our consolidated financial results forecast for the fiscal year ending in
March 2016 as follows.
<Financial results forecast for the year ending March 31, 2016 (Consolidated)>
(Unit: Millions of yen)
Year Ending on March 31, 2016
Year Ended on March
Percent Change From
Previous Forecast
Current Forecast
31, 2015
(Declared on April 30, (Declared on November the Previous Year
2015)
5, 2015)
Net sales
362,700
388,000
363,000
+0.1 %
Operating income
38,800
42,000
34,000
-12.4 %
Ordinary income
59,200
40,000
40,000
-32.5 %
45,200
30,000
31,000
-31.6 %
Profit attributable to
owners of parent
The forecasts are based on an exchange rate of 115 yen to US$1.
- 5 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
2. Items Regarding Summary Information (Note)
(1) Major Changes in Subsidiaries During the First Six Months of the Current Fiscal Year
None
(2) Application of Specific Accounting Procedure for Compiling Consolidated Quarterly Financial Statement
None
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions
Change in accounting policies
(Application of Accounting Standard for Business Combination, Etc.)
As of the first quarter of the year ending March 31, 2016, the ROHM Group is applying the ABSJ Statement No. 21
(Accounting Standard for Business Combination), ABSJ Statement No. 22 (Accounting Standard for Consolidated Financial
Statements) and ABSJ Statement No. 7 (Accounting Standard for Business Divestitures) of September 13, 2013. This has
required ROHM to post changes in the equity we have in group subsidiaries as capital surplus and to change how we record
consolidated expenses in years in which acquisition costs are generated. Moreover, for business combinations effectuated on or
after the start of first quarter, we have changed to reflecting the distribution review of acquisition costs determined by tentative
accounting in quarterly consolidated financial reports of the quarter in which the business combination took place. In addition,
we have changed how we indicate quarterly net income and other data, and began indicating minority interests as noncontrolling interests. To reflect these changes in indication practices, we reorganized the consolidated quarterly and annual
financial statements for the first six months of the fiscal year ended in March 2015 and entire year ended on March 31, 2015.
Because of the revision to the scope of consolidation, cash flows related to the purchase of subsidiaries are listed under "cash
flows from operating activities" in our Consolidated Quarterly Statement of Cash Flows for the first six months of the current
fiscal year.
These new accounting practices will be applied progressively from the start of first quarter as specified in Art. 58-2 (4) of the
Accounting Standard for Business Combination, Art. 44-5 (4) of the Accounting Standard for Consolidated Financial
Statements) and in Art. 57-4 (4) of the Accounting Standard for Business Divestitures.
As a result, operating income, ordinary income and income before income taxes and minority interests decreased each by 453
million yen in the first six months of the current fiscal year.
- 6 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
3. Consolidated Quarterly Financial Statements
(1) Consolidated Quarterly Balance Sheet
End of the accounting year
ended March 31, 2015
(March 31, 2015)
Assets
Current assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Income taxes receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, equipment and vehicles
Tools, furniture and fixtures
Land
Construction in progress
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
- 7 -
(Unit:millions of yen)
First six months of the year
ending March 31, 2016
(September 30, 2015)
280,756
76,721
274,973
81,812
2,132
2,925
42,998
31,962
38,975
29,405
9,374
546
10,794
-292
523,376
29,305
28,270
37,168
27,635
9,128
385
9,812
-363
501,054
221,833
511,008
51,459
64,039
18,746
-635,793
231,293
218,839
506,031
51,152
65,203
23,796
-631,328
233,694
33
5,368
5,401
6,379
6,963
13,342
73,462
1,948
3,836
25,457
-394
104,309
341,003
864,380
66,551
2,338
2,870
16,599
-438
87,922
334,959
836,014
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
End of the accounting year
ended March 31, 2015
(March 31, 2015)
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Accounts payable - other
Income taxes payable
Deferred tax liabilities
Other
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale
securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets
- 8 -
(Unit:millions of yen)
First six months of the year
ending March 31, 2016
(September 30, 2015)
11,764
8,026
19,282
6,638
23,948
69,660
9,816
7,947
17,826
6,099
9
25,486
67,184
29,617
9,251
3,416
42,286
111,946
26,624
9,010
2,451
38,086
105,270
86,969
102,403
599,518
-50,141
738,750
86,969
102,403
616,536
-67,146
738,763
24,442
18,894
-7,308
-3,948
13,186
496
752,433
864,380
-23,724
-3,672
-8,502
482
730,743
836,014
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
(2) Consolidated Quarterly Statement of Income and Consolidated Quarterly Statement of Comprehensive Income
(Consolidated quarterly statement of income)
(First six months of the year ending March 31, 2016)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on abandonment of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on liquidation of subsidiaries and associates
Special retirement expenses
Total extraordinary losses
Income before income taxes and minority interests
Income taxes - current
Income taxes for prior periods
Income taxes - deferred
Total income taxes
Profit
Profit attributable to non-controlling interests
Profit attributable to owners of parent
First six months of the year
ended March 31, 2015
(From April 1, 2014
to September 30, 2014)
182,262
119,099
63,163
41,929
21,233
(Unit:millions of yen)
First six months of the year
ending March 31, 2016
(From April 1, 2015
to September 30, 2015)
189,636
121,299
68,337
44,912
23,424
737
5,901
644
7,283
1,000
7,625
732
9,358
57
19
77
28,440
41
35
77
32,705
2
2
127
127
6
173
1,000
5
1,186
27,255
7,011
384
-1,680
5,715
21,540
18
21,521
3
122
3
58
101
289
32,544
6,155
199
6,354
26,189
8
26,180
- 9 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
(Consolidated quarterly statement of comprehensive income)
(First six months of the year ending March 31, 2016)
Profit
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Comprehensive income attributable to owners of
parent
Comprehensive income attributable to noncontrolling interests
First six months of the year
ended March 31, 2015
(From April 1, 2014
to September 30, 2014)
21,540
(Unit:millions of yen)
First six months of the year
ending March 31, 2016
(From April 1, 2015
to September 30, 2015)
26,189
5,454
16,858
232
22,545
44,085
-5,548
-16,436
275
-21,708
4,480
44,049
4,492
36
-11
- 10 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
(3) Consolidated Quarterly Statements of Cash Flows
(Unit: millions of yen)
First six months of the year
ending March 31, 2016
(From April 1, 2015
to September 30, 2015)
First six months of the year
ended March 31, 2015
(From April 1, 2014
to September 30, 2014
Cash flows from operating activities
Income before income taxes and minority interests
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in net defined benefit liability
Decrease (increase) in net defined benefit asset
Interest and dividend income
Foreign exchange losses (gains)
Loss (gain) on valuation of short-term and longterm investment securities
Loss (gain) on sales of non-current assets
Decrease (increase) in notes and accounts
receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in accounts payable - other
Increase (decrease) in other current liabilities
Other, net
Subtotal
Interest and dividend income received
Interest expenses paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Decrease (increase) in time deposits
Purchase of short-term and long-term investment
securities
Proceeds from sales and redemption of short-term
and long-term investment securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and
equipment
Purchase of shares of subsidiaries resulting in
change in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Purchase of treasury shares
Cash dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
- 11 -
27,255
14,786
1,000
16
248
-86
-1,060
-2,694
32,544
18,168
16
430
-623
-1,417
222
5
3
4
-124
-12,065
-7,305
1,810
4,451
2,625
-1,653
1,195
5,108
132
38,282
1,065
-0
8,834
30,512
-1,987
1,052
958
44,738
1,439
-2
-5,890
40,284
-41,895
28,576
-8,389
-2,070
5,682
3,556
-14,745
-25,631
2
741
-
-8,626
-1,670
-61,015
-173
-3,627
-6
-3,234
-40
-3,280
-17,005
-9,163
-32
-26,200
8,329
-6,908
-25,453
240,391
214,937
3,548
222,668
226,216
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
(4) Note on Consolidated Quarterly Financial Statement
(Note on going concern)
No applicable items
(Note in case of significant change in amount of shareholders’ equity)
In line with a Board of Directors resolution from their meeting on April 30, 2015, ROHM acquired 2,025,800 shares of
treasury stock. As a result, owned treasury shares increased in value to 16,998 million yen in the first six months of the current
fiscal year.
(Segment information etc.)
[Segment information]
The First Six Months of the Current Fiscal Year ended March 31, 2015 (From April 1, 2014 to September 30, 2014)
1. Information on net sales, profits or losses by individual reportable segments
(Unit: Millions of yen)
Reportable segments
ICs
Discrete
semiModules
conductor
devices
Subtotal
Others
(Note 1)
Total
Amount on
consolidated
Adjusted
quarterly
amount
statement of
(Note 2)
income
(Note 3)
Sales
Sales to customers
85,803
65,375
17,504
168,683
13,579
182,262
-
182,262
Inter-segment sales or transfer
1,462
2,214
127
3,805
29
3,834
-3,834
-
Total
87,265
67,590
17,631
172,488
13,609
186,097
-3,834
182,262
12,999
8,896
822
22,717
-836
21,880
-647
21,233
Segment profit (-loss)
(Note)
1.
2.
3.
“Others” is an operational segment that is not included in reportable segments, consisting of business in resistors,
tantalum capacitors, and lightings.
The adjusted amount of the segment profit or loss, minus 647 million yen, mainly includes general administrative
expenses of minus 682 million yen that do not attribute to the segment, and the settlement adjusted amount of 35
million yen, which is not allocated to the segment (such as adjustment for retirement benefits).
For segment profits or loss, adjustments are made using the operating income of the consolidated quarterly
statement of income.
2. Information on impairment loss of non-current assets or goodwill of individual reportable segments
(Significant impairment loss on non-current assets)
An impairment loss was recorded for non-current assets in the module segment. The related impairment losses for the first
six months of the current fiscal year were 931 million yen.
- 12 -
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2016
The First Six Months of the Current Fiscal Year ending March 31, 2016 (From April 1, 2015 to September 30, 2015)
1. Information on net sales, profits or losses by individual reportable segments
(Unit: Millions of yen)
Reportable segments
ICs
Discrete
semiModules
conductor
devices
Subtotal
Others
(Note 1)
Total
Amount on
consolidated
Adjusted
quarterly
amount
statement of
(Note 2)
income
(Note 3)
Sales
Sales to customers
88,140
66,999
20,974
176,114
13,522
189,636
-
189,636
Inter-segment sales or transfer
1,270
1,902
60
3,232
27
3,260
-3,260
-
Total
89,411
68,901
21,034
179,347
13,549
192,896
-3,260
189,636
7,735
11,441
3,818
22,995
881
23,877
-452
23,424
Segment profit (-loss)
(Note)
“Others” is an operational segment that is not included in reportable segments, consisting of business in resistors,
tantalum capacitors, and lightings.
2. The adjusted amount of the segment profit or loss, minus 452 million yen, mainly includes general administrative
expenses of minus 644 million yen that do not attribute to the segment, and the settlement adjusted amount of 192
million yen, which is not allocated to the segment (such as adjustment for retirement benefits).
3. For segment profits or loss, adjustments are made using the operating income of the consolidated quarterly
statement of income.
1.
2. Information on impairment loss of non-current assets or goodwill of individual reportable segments
(Significant changes in goodwill amount)
Goodwill was generated in the IC segment because the purchase of Powervation, Ltd. (ROHM Powervation Ltd. as of
September 2, 2015) and Powervation. Ltd. and one subsidiary of theirs were newly included within the scope of consolidation.
The increase in goodwill that came in the first six months of the current fiscal year as a result of that was 6,363 million yen.
4. Supplementary Information
Orders
(Unit: Millions of yen)
First six months of the year
First six months of the year
ended March 31, 2015
ending March 31, 2016
(From April 1, 2014
(From April 1, 2015
to September 30, 2014)
to September 30, 2015)
Order received
Order backlog
Order received
Order backlog
ICs
84,806
26,271
87,332
24,479
Discrete semiconductor devices
65,843
20,481
65,557
18,862
Modules
17,451
6,026
21,161
7,033
Total of reportable segments
168,101
52,779
174,050
50,376
Others
13,346
3,811
13,573
3,728
Total
181,448
56,590
187,624
54,104
(Notes) The above amount does not contain consumption tax and the like.
- 13 -
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