Third Quarter Financial Report

Third Quarter Financial Report
ROHM CO., LTD. Financial Highlights for the Nine-Month Period of the Year Ending March 31, 2011
(From April 1, 2010 to December 31, 2010)
February 7, 2011
Consolidated Financial Results
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
Year ending March 31,2011
(Projected)
Year ending
March 31,2011
Year ended March
31,2010
Nine-month
period
Nine-month period
Amount
Percentage
Annual
Annual
Increase/decrease
from the previous
year
+4.3%
Increase/decrease from the nine-month period of
the year ended March 31, 2010
Year ended March
31,2010
Net sales
Millions of yen
262,649
253,286
+9,363
+3.7%
335,640
350,000
Cost of sales
Millions of yen
164,743
174,679
-9,936
-5.7%
229,831
225,500
Selling, general and administrative
expenses
Millions of yen
67,330
64,582
+2,748
+4.3%
86,999
89,500
Operating income
Millions of yen
30,574
14,025
+16,549
+118.0%
18,809
35,000
(11.6%)
(5.5%)
(+6.1%)
(5.6%)
(10.0%)
23,079
12,685
+10,394
17,284
27,000
(5.0%)
(+3.8%)
(5.1%)
(7.7%)
(Operating income margin)
Ordinary income
Millions of yen
(Ordinary income margin)
Net income
(8.8%)
Millions of yen
(net income margin)
Basic net income per share
11,614
(4.4%)
yen
106.00
5,203
+6,411
(2.1%)
(+2.3%)
47.49
+58.51
+81.9%
+123.2%
+123.2%
7,134
12,500
(2.1%)
(3.6%)
65.10
114.09
Ratio of net income to equity
%
1.0
Ordinary income to total assets
%
2.1
Total assets
Millions of yen
Net assets
Millions of yen
%
Equity ratio
Net assets per share
766,803
787,053
-20,250
-2.6%
807,339
674,788
697,809
-23,021
-3.3%
707,718
87.8
88.4
-0.6
+86.1%
+56.2%
+75.2%
87.4
yen
6,142.71
6,349.56
-206.85
-3.3%
6,439.19
yen/US$
86.86
93.73
-6.87
-7.3%
93.04
(Second half of the fiscal year)
Foregin exchange rate
(Average yen-dollar rate)
(Note)
80.00
As the projected data is based on 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 Dept., ROHM CO., LTD.
21, Saiin Mizosaki-cho, Ukyouku, Kyoto 615-8585 +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.
- Financial Highlights -
Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
[Based on Japanese Standard] (Consolidated)
February 7, 2011
Listed Company Name: ROHM CO., LTD.
Stock Exchange Listings Tokyo, Osaka
Code No.:
6963
URL http://www.rohm.co.jp
Company Representative: (Title) President
(Name) Satoshi Sawamura
Contact Person:
(Title) Director, Accounting & Finance Headquarters (Name) Eiichi Sasayama
TEL +81-75-311-2121
Scheduled Date for Submitting the Quarterly Financial Reports:
February 10, 2011
Scheduled Dividend Payment Date:
Preparation of Supplementary Briefing Materials for the Quarterly Settlement:
Yes
Briefing Session for the Quarterly Settlement to Be Held:
No
(Figures are rounded down to the nearest million yen.)
1. Consolidated Business Results for the Nine-Month Period of the Year Ending March 31, 2011 (From April 1, 2010 to December 31, 2010)
(The percentages [%] represent changes from the nine-month period of the previous year.)
(1) Consolidated Results of Operations (Accumulated total)
Net sales
Operating income
Millions of yen
Nine-month period of the
year ending March 31, 2011
Nine-month period of the
year ended March 31, 2010
% Millions of yen
Net income for the
nine-month period of the
year ending March 31, 2010
% Millions of yen
%
Ordinary income
% Millions of yen
262,649
3.7
30,574
118.0
23,079
81.9
11,614
123.2
253,286
-2.0
14,025
-48.9
12,685
-61.0
5,203
13.1
Basic net income per share
Yen
Nine-month period of the
year ending March 31, 2011
Nine-month period of the
year ended March 31, 2010
Diluted net income per share
Yen
106.00
-
47.49
-
(2) Consolidated Financial Position
Total assets
Millions of yen
Nine-month period of the
year ending March 31, 2011
Net assets
Millions of yen
Shareholder’s equity ratio
%
674,788
87.8
6,142.71
807,339
707,718
87.4
Nine-month period of the year ending March 31, 2011: 673,031 million yen
Year ended March 31, 2010:
705,528 million yen
6,439.19
766,803
Year ended March 31, 2010
(Reference) Equity capital
Net assets per share
Yen
2. Dividend Details
(Base date)
End of the first quarter
Yen
Year ended March 31, 2010
-
Interim
Dividend per share
End of the third quarter
Yen
Yen
65.00
-
End of year
Year ending March 31, 2011
65.00
Year ending March 31, 2011
(Estimates)
(Note) Revision to estimates of dividends in the nine-month period of the year ending March 31, 2011: None
Annual
Yen
65.00
Yen
130.00
65.00
130.00
3. Consolidated Business Results Forecast for the Year Ending March 31, 2011 (From April 1, 2010 to March 31, 2011)
(The percentages [%] shown for Fiscal 2010 figures represent changes from the previous fiscal year.)
Net sales
Operating income
Ordinary income
Net income
Basic net income
per share
Millions of yen
% Millions of yen
% Millions of yen
% Millions of yen
%
Fiscal 2010
350,000
4.3
35,000
86.1
27,000
56.2
12,500
75.2
(Note) Revision to figures for consolidated business results forecast in the nine-month period of the year ending March 31, 2011: No
yen
114.09
4. Others (For details, please refer to “Others” on Page 5 of the Appendix.)
(1) Major Changes in Subsidiaries during the Nine-Month Period of the Year Ending March 31, 2011:
New company
(Company name:
Excluded company
(Company name:
None
)
)
(Note) Changes to specified subsidiaries accompanying revision on the scope of consolidation during the nine-month period of the year ending March 31, 2011
(2) Application of Simple Accounting Procedure and Specific Accounting Procedure:
None
(Note) Application of simple accounting procedure and specific accounting procedure for compiling consolidated quarterly financial statements
(3) Changes in Accounting Policies, Procedures, Indication Methods, Etc.
[1] Changes according to revision of accounting standards: Yes
[2] Other changes:
None
(Note) Changes in accounting policies, procedures, indication methods, etc. concerned with the preparation of quarterly financial statements to be entered to
“Changes in Major Items for the Preparations of Consolidated Quarterly Financial Statements”
(4) Number of Shares Outstanding (common shares)
[1] Year-end number of shares outstanding (incl. treasury stocks)
The nine-month period of the year ending March 31, 2011
115,300,000 shares
Year ended March 31, 2010
115,300,000 shares
[2] Year-end number of treasury stocks
The nine-month period of the year ending March 31, 2011
Year ended March 31, 2010
5,734,113 shares
5,732,200 shares
[3] Average number of shares during the period (Accumulated total of the nine-month period)
The nine-month period of the year ending March 31, 2011
109,566,906 shares
The nine-month period of the year ended March 31, 2010
109,569,598 shares
* Description Regarding Implementation Status of Quarterly Review Procedures
This quarterly financial report is not applicable to quarter review procedures based on the Financial Instruments and Exchange Act, and, at the time of
disclosure of this quarterly financial report, the review procedure of the quarterly financial statement based on the Financial Instruments and Exchange
Act had not been completed yet.
* Explanation on Adequate Usage of Business Results Forecast
Since the statements regarding the business results forecast accounted for in this financial report are based on current information acquired by ROHM
as well as specific legitimate prerequisites, actual business results may be considerably different due to various factors. For prerequisites on business
results forecasts and other related subjects, please refer to “Qualitative information regarding consolidated business results forecast” on Page 5 of the
Appendix of the Financial Report for the Nine-Month Period of the Year Ending March 31, 2011.
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
Appendix
• Table of Contents
1. Qualitative information regarding consolidated business results, etc. for the nine-month period of this fiscal year·················· 2
(1) Qualitative information regarding consolidated business results ······················································································· 2
(2) Qualitative information regarding consolidated financial conditions················································································· 4
(3) Qualitative information regarding consolidated business results forecast ·········································································· 5
2. Others ························································································································································································ 5
(1) Major change in subsidiaries·············································································································································· 5
(2) Outlines of simple accounting procedure and specific accounting procedure ···································································· 5
(3) Changes in accounting policies, procedures, indication methods, etc. ··············································································· 5
3. Consolidated quarterly financial statements ······························································································································· 6
(1) Consolidated quarterly balance sheets ······························································································································· 6
(2) Consolidated quarterly statements of income ···················································································································· 8
(3) Consolidated quarterly statements of cash flows ··············································································································· 9
(4) Note on going concern ······················································································································································· 10
(5) Segment information·························································································································································· 10
(6) Note in case of significant change in amount of shareholders’ equity ··············································································· 11
4. Supplementary information ························································································································································ 12
Actual sales ··············································································································································································· 12
* “Financial Highlights for the First Nine-Month Period of the Year Ending March 31, 2011” are attached separately as
supplementary briefing materials.
-1-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
1. Qualitative information regarding consolidated business results, etc. for the nine-month period of this fiscal year
(1) Qualitative information regarding consolidated business results
Overall condition of business performance
During the nine-month period of the year ending March 31, 2011, the world economy continued the recovery trend from the
sluggishness that had predominated since 2008. However the unemployment rate remained at a high level, while concern over
financial crisis in Europe reignited. As a result, the world economy was in an unstable state.
As for individual regions, in the US, despite recovery in personal consumption and a strong industrial turnaround, the housing market
remained sluggish. In addition, the unemployment rate hasn’t changed, draining the overall strength of the economy to recover.
In Europe, driven by strong exports mainly to Asian countries, the individual economies of most major countries continued the
recovery trend. However, unemployment rate stayed at high level, and volatile economic conditions triggered by financial problems
in Ireland, Greece, Portugal, and Italy have not been solved.
In Asian countries, although concern for inflation was mounting in China, personal consumption remained robust, and the Chinese
economy remained in healthy state. Nonetheless, the pace of economic expansion slowed down slightly. Other Asian regions also
enjoyed robust economies as their exports to China increased. However, due to deteriorating exports to developed countries, the pace
of moving into favorable economic condition slowed down similar to China. In Japan, exports - particularly exports to Asian
countries - which were on an increasing trend in the first half, gradually started to slow down,. In the area of personal consumption,
the number of new cars sold decreased after the government’s purchase promoting plan ended in autumn, putting the Japanese
economy in a weak state. Furthermore, although the number of new housing starts recovered, the unemployment rate did not improve,
while the serious appreciation of the yen and deflation continued. For these reasons, Japan’s economy was in stagnant situation.
Within the electronics industries, in the first half, mobile phones, mainly smart phones, enjoyed robust sales, and sales of flat-screen
TVs remained favorable thanks to the continuation of measures to encourage consumer spending by individual governments. Sales of
personal computers grew due to growing markets of emerging countries and an increase in sales of tablet PCs. Automotive market
continued to expand steadily and recorded robust sales. However, after the summer, in addition to seasonal adjustment, the market
was affected by economic downturns in developed countries.
In the electronic components industry, demand was strong as well, driven by robust production of end products in the first half.
Nonetheless after the summer, increasing anxiety over the economic conditions pushed the market into a declining trend.
In individual regions, beginning in Japan, the sales of automobile and flat-screen TVs were strong in the first half, but after the
summer, automobile sales drastically decreased due to progressive appreciation of the yen and the discontinuation of purchase
assisting measures by the government. In other Asian countries, in the first half, the sales of low-priced notebook PCs and flat-screen
TVs were strong due to high demand from emerging countries, including China; and the recovery in the US market. But after the
summer, this segment of the market rapidly contracted due to production adjustments that were triggered by increasing inventories.
The uptrend in the smartphone market continued while other mobile phones went through an adjustment period.
In the US, the market picked up in the first half mainly due to the favorable sales of personal computers, flat-screen TVs, and
smartphones, but sales slowed down after the summer.
In Europe, exports to countries outside the euro-region remained robust, influenced by the depreciation of the euro, but the markets
within the region remained sluggish.
Under these circumstances, the ROHM Group focused on strengthening product lineups for the automotive and electrical markets,
flat-screen TV market, information and telecommunication markets, and mobile device market, while reinforcing its sales system to
non-Japanese customers. This task has been accomplished by establishing additional sales bases in inland China and increasing the
number of FAEs (*1), while striving to improve organizational structure in order to promptly respond to the shifts in the global
market.
In the field of SiC power devices, which offer a significant improvement in power conversion efficiency compared to existing
semiconductors, ROHM started mass-production of Schottky barrier diode in April and the world’s first DMOSFET transistor (*2) in
December. In addition, the Group developed motor-embedded SiC module for electric vehicles, continuing to foster eco-device
projects which aim to improve global environment.
ROHM Group has also developed chip sets for the next-generation embedded processer by Intel in the US through cooperation with
OKI Semiconductor, - acquired by ROHM in 2008- thus successfully entering the embedded equipment market that is expected to
grow. The ROHM Group exerted itself to create a synergistic effect by constructing partnerships with SiCrystal AG, a SiC wafer
manufacturer in Germany, and Kionix, Inc., a supplier of MEMS acceleration sensors (*3) in the US. Both companies were acquired
by ROHM last year.
Under these circumstances, consolidated net sales in nine-month period of the year ending March 31, 2011 were 262,649 million yen
(an increase of 3.7 percent from the nine-month period of the previous fiscal year). Operating income recorded 30,574 million yen
(2.2 times as much as that of the nine-month period of the previous fiscal year). This was accompanied by the effects of increased
revenue and decreased cost of sales due to a decrease in depreciation.
Consolidated ordinary income was 23,079 million yen (an increase of 81.9 percent from the nine-month period of the previous fiscal
year) due to foreign currency exchange losses, and the net income in the nine-month period of the year ending March 31, 2011 was
11,614 million yen (2.2 times as much as that of the nine-month period of the previous fiscal year).
*1. FAE (Field Applications Engineer)
Sales Engineering; a hybrid of engineering and sales who provides technical support for the customer
-2-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
*2. DMOSFET transistor (Double-Diffusion Metal-Oxide-Semiconductor Field Effect Transistor), transistor with a
power-device structure which is suitable to switching devices with high current and high voltage requirements
*3. MEMS acceleration sensors
Electronic device having a micro-electromechanical structure that mounts a sensor for measuring changes in speed on a
silicon chip by means of semiconductor microfabrication technology
Overview of performance in each segment
Since ROHM Group started to disclose transactions by individual segments from the first quarter of the year ending March 31, 2011,
the comparison between the nine-month period of this fiscal year and that of the previous fiscal year was done through arranging
transactions by individual segments of the nine-month period of the previous fiscal year. Also, internal transactions conducted
between individual segments have been offset and cancelled out.
<ICs>
Consolidated net sales for the nine-month period of the year ending March 31, 2011 were 136,687 million yen (a decrease of 1.0
percent from the nine-month period of the previous fiscal year).
In the field of digital audio and visual equipment, for flat-screen TVs, although the sales of timing controller ICs were sluggish, class
D speaker amplifiers and power supply ICs recorded robust sales. The sales of lens driver ICs for digital still camera and power
management ICs were strong. For mobile phones, sales of LCD driver ICs, analog front-end ICs (*4), and audio related ICs were
slow. Sales of LED driver ICs, which were robust in the first half, slowed down after autumn. For game consoles, sales of voice
generation ADPCM decoder ICs (*5) decreased. In the personal computers segment, motor driver ICs for fan motors and optical
disks registered steady sales, but the market changed to an adjustment trend in the second half. In the automotive field, sales of
various types of power supply ICs and motor driver ICs for optical disks increased. In general-purpose equipment, sales of
EEPROMs , LDO regulators (*6) and DC/DC converters were strong.
At OKI Semiconductor Co., Ltd., sales of P2ROMs (*7) for gaming equipment and LCD driver ICs had a declining trend..
*4. Analog front-end IC for mobile phone
IC that converts analog signals received with an antenna into digital signals that can be processed within a mobile phone.
*5. Voice generation ADPCM (Adaptive Differential Pulse Code Modulation) decoder IC
An IC for demodulating voice-compressed data in the form of ADPCM and for reproducing audio via speakers
*6. LDO regulator
Circuit for outputting a desired constant voltage from a certain input voltage. LDO stands for Low Drop Out type, which
means smaller voltage loss in conversion.
*7. P2ROMTM (Production Programmed ROM)
OKI Semiconductor’s unique non-volatile memory, on which customer programs and data are written at the factory before
shipment It is used for game consoles and can be shipped in a shorter amount of time compared to general-use mask
ROMs.
<Discrete semiconductor devices>
Consolidated net sales for the nine-month period of the year ending March 31, 2011 were 87,108 million yen (increase of 7.0 percent
from the nine-month period of the year ended March 31, 2010).
In the diode and transistor product group, switching diodes, rectifier diodes and power transistors enjoyed brisk sales in the first half
of this nine months period, driven by robust sales of digital audio and visual equipment, personal computers and automobile
components markets, but, in the latter half, sales were slow due to seasonal adjustments and the effects of an appreciating yen.
In the LED (light emitting diode) area, red and green LEDs experienced favorable increases in sales in the first half of the year, but
ran into seasonal adjustments and sluggish results during the second half.
In the area of laser diodes, although the sales of dual wavelength lasers for CD/DVD increased in the first half of the year, they were
sluggish in the second half .
Furthermore, ROHM started mass-production of SiC Schottky barrier diodes and DMOSFET transistors (*2), developed as
next-generation high efficiency devices.
As for production systems, ROHM continued improved production efficiency at the Group’s overseas plants in Thailand, the
Philippines, and Tianjin, China, and enhanced abilities to respond to cost concerns.
<Others>
Consolidated net sales for the nine-month period of the year ending March 31, 2011 were 38,853 million yen (increase of 14.8
percent from the nine-month period of the year ended March 31, 2010).
In the resistor product family, although the sales of resistors for mobile phones remained in severe conditions, the overall market
recorded robust sales mainly on resistors for automobile component markets.
-3-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
As for printhead products, sales of image sensor heads for multifunctional printers were sluggish, but overall sales, mainly in
small-size thermal printheads for miniaturized printers, stayed on the positive side.
In the LED display category, eight-character numeric type displays enjoyed robust sales, however sales of dot matrix-type modules
slowed.
With our tantalum capacitors, sales remained favorable mainly due to mobile phone production in China. As for module products,
surface-mount IR sensors for smartphones increased sales considerably.
Sales figures for lighting products (lightings), which are expected to be an energy-saving light source of the next generation and a
major contributor to CO2 reduction, were on the increase as commercial facilities and office buildings started to adopt this
illumination system. ROHM also newly started to develop and sell LED light bulbs with wide light distribution feature.
Concurrent with all these efforts ROHM continued to reinforce production management of the Group’s plants in Thailand and Dalian,
China, emphasizing on improving production efficiency and reducing costs.
(2) Qualitative information regarding consolidated financial conditions
Analysis of status of assets, liabilities, net assets and cash flow
In regards to financial conditions for the nine-month period of the year ending March 31, 2011, net assets decreased by 40,536
million yen from the previous fiscal year, amounting to 766,803 million yen. The main factors behind the decrease are as follows: a
decrease in cash and time deposits by 40,726 million yen, decrease of tangible fixed assets by 8,820 million yen, and decrease in
intangible fixed assets by 7,805 million yen, as well as an increase in marketable securities by 21,573 million yen.
Liabilities decreased by 7,605 million yen from the previous fiscal year and amounted to 92,015 million yen. The main causes are
decrease in other accounts payable by 7,279 million yen and decrease in liabilities for retirement benefits by 1,720 million yen as
well as increase in notes and accounts payable trade of 2,599 million yen.
Net assets decreased by 32,930 million yen from the previous fiscal year, amounting to 674,788 million yen. Decreases in foreign
currency translation adjustments by 28,107 million yen, shareholder’s equity by 2,641 million yen, and net unrealized gain on
available-for-sale securities by 1,749 million yen were main factors.
Consequently, equity ratio increased to 87.8 percent from 87.4 percent of the previous fiscal year.
Cash flow status for the nine-month period of the year ending March 31, 2011 is as follows.
Cash flow from operating activities was a plus of 48,125 million yen as revenue increased by 18,076 million yen (a plus of 30,049
million yen from the nine-month period of the previous fiscal year.). This was mainly caused by a decrease in notes and accounts
receivable-trade and an increase in income before income taxes and minority interests, which worked as positive factors, and a
change in inventories from a decrease to an increase, which worked as a negative factor.
Cash flow from investment activities was a minus of 42,683 million yen as expenses increased by 14,189 million yen from the
nine-month period of the previous fiscal year (a minus of 28,494 million yen). These were attributable to negative factors in an
increase in expenses from the acquisition of tangible fixed assets, decreased revenue due to sales and paying-off of marketable
securities and investment securities, an increase of expenses from the acquisition of marketable securities and investment securities,
and the positive factor that there were no expense from purchase of subsidiary’s share accompanying revision on the extent of
consolidation that was done in the nine-month period of the previous fiscal year.
Cash flow from financial activities was a minus of 14,388 million yen as expenses increased by 1 million yen from the nine-month
period of the previous fiscal year (a minus of 14,387 million yen).
In addition to the factors described above, a decrease of 17,524 million yen was added. Cash and cash equivalents at the end of the
nine-month period of the year ending March 31, 2011 amounted to 232,665 million yen, a decrease of 26,470 million yen from the
previous fiscal year.
-4-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
(3) Qualitative information regarding consolidated business results forecast
Although the business environment in the nine-month period of the year ending March 31, 2011 is uncertain, there are no significant
differences from the forecast made in the previous quarter at present. Therefore, ROHM has not made any changes to the business
results forecast for this period from the “Financial Report for the first six months of the year ending March 31, 2011.”.
<Reference> “Business forecast for the fiscal year ending March 31, 2011” (Numbers disclosed on November 8, 2010)
Business results forecast for the year ending March 31, 2011 (Consolidated)
Net sales
350,000 million yen (Increase by 4.3 percent from the year ended March 31, 2010)
Operating income
35,000 million yen (Increase by 86.1 percent from the year ended March 31, 2010)
Ordinary income
27,000 million yen (Increase by 56.2 percent from the year ended March 31, 2010)
Net income
12,500 million yen (Increase by 75.2 percent from the year ended March 31, 2010
The forecasts are based on an exchange rate of ¥80 to US$1.
2. Others
(1) Major change in subsidiaries
There is no relevant information to report.
(2) Outlines of simple accounting procedure and specific accounting procedure
There is no relevant information to report.
(3) Changes in accounting policies, procedures, indication methods, etc.
[1] Application of accounting standard regarding asset retirement obligations
Starting from the first quarter of the year ending March 31, 2011, ROHM is applying the “Accounting Standard on Asset
Retirement Obligations” (Accounting Standard No. 18, Issued on March 31, 2008) and the “Application Guidelines of
Accounting Standard on Asset Retirement Obligations” (Application Guidelines of Accounting Standard No.21, Issued
on March 31, 2008).
For this reason, operating income and ordinary income decreased by 66 million yen, respectively, and the income
before income taxes and minority interests decreased by 317 million yen. The change in the amount of asset retirement
obligations accompanied by the application of the said accounting standard was 548 million yen.
[2] Application of accounting standards, etc. regarding corporate combination
Starting from the first quarter of the year ending March 31, 2011, ROHM is applying the “Accounting Standard on
Corporate Combination” (Accounting Standard No. 21, Issued on December 26, 2008), the “Accounting Standard on
Consolidated Financial Statements” (Accounting Standard No. 22, Issued on December 26, 2008), the “Partial Revision
of Accounting Standard on Research and Development Expenses” (Accounting Standard No. 23, Issued on December 26,
2008), the “Accounting Standard on Carve-outs” (Accounting Standard No. 7, Issued on December 26, 2008), the
“Accounting Standard on Equity Method” (Accounting Standard No. 16, Issued on December 26, 2008) and the
“Application Guidelines of Accounting Standard on Corporate Combination and Accounting Standard on Carve-outs”
(Application Guidelines of Accounting Standard No.10, Issued on December 26, 2008).
-5-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
5. Consolidated quarterly financial statements
(1) Consolidated quarterly balance sheets
The end of the nine-month period
of the year ending March 31,
2011
(December 31, 2010)
(Unit: millions of yen)
Abstract of consolidated balance
sheets of the end of the previous
consolidated fiscal year
(March 31, 2010)
Assets
Current assets
230,498
271,224
Notes and accounts receivable trade
Cash and time deposits
75,922
78,258
Securities
30,375
8,802
Commodities and products
21,753
22,063
Products in progress
38,085
39,691
Raw materials and inventories
24,815
23,602
Prepaid pension cost
2,337
2,614
Deferred tax assets
8,888
10,516
Refundable income taxes
952
661
7,082
5,327
-291
-329
440,421
462,434
Buildings and structures
210,475
213,984
Machinery, equipment and vehicles
Others
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
471,545
471,925
Tools and furniture
41,469
43,266
Land
85,334
85,501
Construction in progress
13,183
14,838
Accumulated depreciation
-570,130
-568,819
Total tangible fixed assets
251,877
260,697
21,963
27,453
8,161
10,475
30,124
37,929
38,903
38,693
Deferred tax assets
1,832
2,206
Others
4,244
5,991
-600
-612
Intangible fixed assets
Goodwill
Others
Total intangible fixed assets
Investments and other assets
Investment securities
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets
-6-
44,379
46,278
326,381
344,904
766,803
807,339
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
The end of the nine-month period
of the year ending March 31,
2011
(December 31, 2010)
(Unit: millions of yen)
Abstract of consolidated balance
sheets of the end of the previous
consolidated fiscal year
(March 31, 2010)
Liabilities
Current liabilities
Notes and accounts payable trade
23,594
20,995
Other accounts payable
21,418
28,697
Accrued income taxes
2,915
4,003
Deferred tax liabilities
1,416
1,110
Allowance for restructuring expenses
1,164
437
Others
13,736
13,606
Total current liabilities
64,245
68,849
17,108
18,336
8,490
10,210
2,169
2,223
27,769
30,770
92,015
99,620
Long-term liabilities
Deferred tax liabilities
Liabilities for retirement benefits
Others
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
Common share
86,969
86,969
Capital surplus
102,403
102,403
Retained earnings
635,370
637,999
Treasury stock-at cost
-57,116
-57,105
Total shareholders' equity
767,626
770,267
Unrealized or translated gains/loss
Net unrealized gain on available-for-sale securities
6,372
8,121
Foreign currency translation adjustments
-100,967
-72,860
Total unrealized or translated gains/losses
-94,595
-64,738
1,757
2,189
674,788
707,718
766,803
807,339
Minority interests
Total net assets
Total of liabilities and net assets
-7-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
(2) Consolidated quarterly statements of income
(Nine-month period of the year ending March 31, 2011)
Nine-month period of the year
ended March 31, 2010
(From April 1, 2009
To December 31, 2009)
(Unit: millions of yen)
Nine-month period of the year
ending March 31, 2011
(From April 1, 2010
To December 31, 2010)
Net sales
253,286
262,649
Cost of sales
174,679
164,743
Gross profit
78,607
97,905
Selling, general and administrative expenses
64,582
67,330
Operating income
14,025
30,574
951
717
-
361
Non-operating income
Interest income
Dividend received
Investment gain on equity method
223
-
Others
1,004
450
Total non-operating income
2,178
1,529
3,463
8,625
Non-operating expenses
Foreign currency exchange loss
Others
Total non-operating expenses
Ordinary income
54
399
3,518
9,024
12,685
23,079
57
69
133
-
82
-
-
1,841
273
1,910
Extraordinary gains
Gain on sales of fixed assets
Gain on revaluation of affiliate companies’ shares
Reversal of allowance for doubtful accounts
Revenue from ending retirement benefit scheme
Total extraordinary gains
Extraordinary losses
Loss on sales/disposal of fixed assets
33
33
Abandonment loss on fixed assets
199
1,907
Impairment loss
170
-
52
-
Loss on sales of affiliate companies’ stocks
Loss on revaluation of investment securities
21
1
Loss on revaluation of affiliate companies’ stocks
175
341
Provision for allowance for doubtful accounts
of affiliate companies
Special severance payments for early retired employees
419
-
213
1,025
1,987
1,005
Restructuring expenses
Settlement paid
470
-
-
148
3,742
4,463
Income before income taxes and minority interests
9,216
20,527
Income taxes-current
4,875
6,237
Income taxes-deferred
-593
2,594
Amount affected by application of Accounting Standard on
Asset Retirement Obligations
Total extraordinary losses
Total income taxes
Net income before minority interests or losses adjustments
Minority interests (-loss)
Net income (-loss)
-8-
4,281
8,832
-
11,694
-268
80
5,203
11,614
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
(3) Consolidated quarterly statements of cash flows
Nine-month period of the year
ended March 31, 2010
(From April 1, 2009
To December 31, 2009)
(Unit: millions of yen)
Nine-month period of the year
ending March 31, 2011
(From April 1, 2010
To December 31, 2010)
Operating Activities
Income before income taxes and minority interests
Depreciation
Impairment loss
Amortization of goodwill
Increase (-decrease) in net liability for retirement benefits
Increase (-decrease) in prepaid pension cost
9,216
20,527
35,278
28,494
170
-
3,883
5,282
-1,208
-1,662
382
277
Increase (-decrease) in allowance for restructuring expenses
-4,072
736
Interest and dividends income
-1,236
-1,079
455
3,521
Foreign currency exchange loss (-gain)-net
Investment loss on equity method (-gain)
-223
-
196
343
-17,738
-1,370
Decrease (-increase) in inventories
7,703
-3,489
Increase (-decrease) in notes and accounts payable -trade
6,246
5,660
-8,013
-6,359
-685
2,923
1,295
1,055
-13
-11
Income taxes -refunded (-paid)
-1,587
-6,723
Net cash used by operating activities
30,049
48,125
-4,347
-7,946
-305
-7,743
15,988
3,898
-16,004
-28,612
98
116
-22,340
-
Revaluation loss (-gain) on marketable securities
and investment securities
Decrease (-increase) in notes and accounts receivable -trade
Increase (-decrease) in other accounts payable
Others -net
Interest and dividends -received
Interest expenses
Investing Activities
Decrease (-increase) in time deposits
Purchase of marketable securities and investment securities
Revenue from selling and paying-off of marketable
securities and investment securities
Purchases of tangible fixed assets
Proceeds from sales of tangible fixed assets
Expense from purchase of subsidiary's share accompanying
revision on the extent of consolidation
Expense from sales of subsidiary's share accompanying
revision on the extent of consolidation
-60
-
-1,523
-2,394
-28,494
-42,683
-13
-11
-14,244
-14,243
-130
-133
Net cash used in financing activities
Effect of Exchange Rate Changes on Cash and Cash
Equivalents
-14,387
-14,388
-7,070
-17,524
Net Increase(-Decrease) in Cash and Cash Equivalents
-19,903
-26,470
Cash and Cash Equivalents at Beginning of the Fiscal Year
262,210
259,135
Cash and Cash Equivalents at End of the First Six Months
242,306
232,665
Others -net
Net cash used in investing activities
Financing Activities
Purchases of treasury stocks
Dividends paid
Others -net
-9-
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
(4) Note on going concern
No applicable items
(5) Segment information
[Industry segments]
Nine-month period of the year ended March 31, 2010 (From April 1, 2009 to December 31, 2009)
The main operations of the ROHM Group are the manufacturing and sales of electronic components. Since the Group does not
have any segment subject to disclosure other than such operations, the disclosure of industrial segment information has been
omitted.
[Geographical segments]
Nine-month period of the year ended March 31, 2010 (From April 1, 2009 to December 31, 2009)
Japan
Sales
(1) Sales to customers
(2)
Inter-area transfer
Total sales
Operating income (- loss)
Asia
Americas
Europe
Total
(Unit: millions of yen)
Eliminations/
Consolidated
Corporate
109,784
124,586
9,267
9,648
253,286
-
253,286
134,792
154,629
387
226
290,036
(290,036)
-
244,577
279,216
9,655
9,874
543,323
(290,036)
253,286
-193
20,104
-325
-609
18,976
(4,951)
14,025
(Notes) 1. Countries and areas are segmented based on their geographical proximity.
2. Major countries and areas that belong to segments other than Japan are as follows:
Asia:
China, Singapore, Taiwan, Korea
Americas: United States
Europe:
Germany
[Sales to foreign customers]
Nine-month period of the year ended March 31, 2010 (From April 1, 2009 to December 31, 2009)
Asia
I
Sales to foreign customers
139,384
II Net sales
Americas
Europe
10,744
8,330
(Unit: millions of yen)
Total
158,458
253,286
III Sales to foreign customers
as a percentage of net
55.0 %
4.3 %
3.3 %
62.6 %
sales
(Notes) 1. Countries and areas are segmented based on their geographical proximity.
2. Major countries and areas that belong to each segment are as follows:
Asia:
China, Singapore, Taiwan, Korea
Americas: United States
Europe:
Germany
3. Sales to foreign customers consist of export sales of ROHM and its domestic consolidated subsidiaries and sales
(other than exports to Japan) of the overseas consolidated subsidiaries.
- 10 -
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
[Segment information]
1. Overview of reportable segments
Nine-month period of the year ending March 31, 2011 (From April 1, 2010 to December 31, 2010)
The reportable segments of the ROHM Group are units of the group for which separated financial information is available,
and which is the subject of the periodical review by the board of directors for the purpose of deciding the distribution of
management resources and evaluating business performance.
The ROHM Group is a comprehensive manufacturer of electronic components, and sets up operational divisions by
individual product categories at its headquarters. Each operational division draws up comprehensive production plans and
business strategies for both domestic and overseas operations, and develops global production activities. Therefore, from a
management standpoint, the group attaches great importance to the supervision of profits and losses by operational
segments organized as operational divisions of individual product categories. For this reason, the group is consolidating
operational segments in consideration of characteristics of the products each operational division is manufacturing and
similarities of production process, and setting up two reportable segments as “ICs” and “Discrete semiconductor devices”.
In the “ICs” segment, products such as analog ICs, logic ICs, memory ICs and ASICs are manufactured and foundry
business operations are conducted.
Products manufactured in the “Discrete semiconductor devices” segment include diodes, transistors, light-emitting diodes,
and laser diodes.
2. Information on net sales, profits or losses by individual reportable segments
Nine-month period of the year ending March 31, 2011 (From April 1, 2010 to December 31, 2010)
Reportable segments
Others
Discrete
Total
(Note) 1
ICs
semiconductor Subtotal
devices
Sales
Sales to customers
Inter-segment sales or
transfer
Total
Segment profit
(Unit: millions of yen)
Amount on
consolidated
income
statement
(Note) 3
Adjusted
amount
(Note) 2
136,687
87,108
223,795
38,853
262,649
-
262,649
1,524
1,016
2,540
3
2,544
-2,544
-
138,212
8,024
88,124
16,954
226,336
24,978
38,857
4,231
265,193
29,210
-2,544
1,364
262,649
30,574
(Note) 1. “Others” is an operational segment that is not included in reportable segments, consisting of business in resistors,
printheads, optical modules, tantalum capacitors, power modules, and lightings.
2. The adjusted amount of the segment profit, 1,364 million yen, mainly includes general administrative expenses of
minus 1,010 million yen that do not attribute to the segment, and the settlement adjusted amount of 2,375 million
yen, which is not allocated to the segment (such as adjustment for retirement benefits).
3. For segment profits, adjustments are made using the operating income of the consolidated quarterly statements of
income.
(Additional information)
Starting from the first quarter of the year ending March 31, 2011, ROHM is applying the “Accounting Standard on Disclosure
of Segment Information” (Accounting Standard No. 17, Issued on March 27, 2009), and the “Application Guidelines of
Accounting Standard on Disclosure of Segment Information” (Application Guidelines of Accounting Standard No.20, Issued
on March 21, 2008).
(6) Note in case of significant change in amount of shareholders’ equity
No applicable items
- 11 -
ROHM CO., LTD. (6963) Financial Report for the Nine-Month Period of the Year Ending March 31, 2011
4. Supplementary information
Actual sales
(Unit: millions of yen)
Period
Segment
ICs
Nine-month period of the year ended
March 31, 2010
From April 1, 2009
To December 31, 2009
Amount
Ratio
138,021
Discrete semiconductor devices
Total of reportable segments
Others
Total
Nine-month period of the year ending
March 31, 2011
From April 1, 2010
To December 31, 2010
Amount
Ratio
54.5%
136,687
52.0%
81,427
32.1
87,108
33.2
219,449
86.6
223,795
85.2
33,837
13.4
38,853
14.8
253,286
100.0
262,649
100.0
(Note) 1. Transactions between individual segments are offset and eliminated.
2. Consumption tax and the like are not included in the above amounts.
3. Starting from the first quarter of the year ending March 31, 2011, ROHM decided to disclose information by
individual segments. For this reason, the actual sales result that was disclosed by individual product categories in
the nine-month period of the year ended March 31, 2010 is displayed after recalculating the sales figures by
individual segments.
- 12 -
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