Metal One Corporation and Subsidiaries
Financial Results for the Year Ended March 2015
12th Term(April 1, 2014 to March 31, 2015)

May 29, 2015
7-2, Marunouchi 2-chome, Chiyoda-ku, Tokyo

Metal One Corporation

Metal One Corporation

Consolidated Balance Sheets(In ¥ million)
AssetsItem
Current assets

Previous fiscal year
(March 31, 2014)

Liabilities and Net Assets
Current fiscal year
(March 31, 2015)

Change(amount)

Item

Previous fiscal year
(March 31, 2014)

Current fiscal year
(March 31, 2015)

Change(amount)861,514816,624-44,890

Current liabilities

647,460

591,297-56,163

Cash and deposits

29,911

28,332-1,579Notes and accounts payable

366,668

284,624-82,044

Notes and accounts receivable588,266

470,123-118,143

Short-term debt

245,271

274,892

29,621Inventories

213,151

245,895

32,744

Other accounts payable

9,959

13,647

3,688

Advance payments to suppliers

8,895

7,289

-1,606

Accrued expenses

3,690

3,355-335

Other accounts receivable

14,06821,306

7,238

Accrued income taxes

7,600

3,479

-4,121

Short-term deferred tax assets

5,181

3,205

-1,976

Advances from customers

4,3252,900-1,425

Other current assets

5,715

44,05738,342

Reserve for bonuses

4,127

4,443

316

Allowance for doubtful receivables-3,673-3,583

90

Other

5,820

3,957

-1,863

Non-current assets

252,331279,704

27,373

Non-current liabilities

110,398

119,056

8,658

Tangible assets

124,054

119,838-4,216Long-term debt

89,171

97,068

7,897

Intangible assets

7,328

7,737

409

Long-term deferred tax liabilities

15,154

15,897743

Goodwill

238

1,325

1,087

Net defined benefit liabilities

2,658

2,804

146

7,090

6,412

-678

Other

3,415

3,287

-128

120,949

152,129

31,180112,077

144,951

32,874

872

50

-822

Total liabilities

757,858

710,353-47,505

Long-term deferred income taxes

1,393

1,377

-16

Shareholders’ equity

299,614

310,193

10,579

Other

9,656

8,605

-1,051

Common stock

100,000

100,000

0

Allowance for doubtful receivables-3,049-2,854

195

Capital surplus

50,00050,0000Retained earnings

149,614160,193

10,579Other intangible non-current assets

Investments and other assets

Investments
Long-term loans

14,63232,121

17,489Net unrealized gains on securities

15,01920,812

5,793

Deferred gains or losses on hedges-9-415

11,175911,590

Total other comprehensive income

Foreign currency translation adjustments

37134

97

Minority interests

41,741

43,661

1,920

Total net assets

355,987

385,975

29,988

1,113,845

1,096,328-17,517

Remeasurement of defined benefit plans

Total assets

1,113,845

1,096,328-17,517

Total liabilities and net assets

Metal One Corporation

Statements of Consolidated Income(In ¥ million)
Year-on-year

Previous fiscal year
April 1, 2013 toMarch 31, 2014

Current fiscal year
April 1, 2014 toMarch 31, 2015

Sales

2,563,303

2,421,600-141,703-5.5%

Cost of sales

2,434,951

2,303,883-131,068-5.4%

Gross profit

128,352

117,717-10,635-8.3%(Gross profit ratio)(5.0%)(4.9%)

Selling, general and administrative expenses

93,252

91,562-1,690-1.8%

Operating income

35,10026,155-8,945-25.5%

Non-operating income

6,736

5,334

-1,402-20.8%(Interest income)( 614)( 661)

47

7.7%(Dividend income)( 1,586)( 1,463)-123-7.8%(Equity in earnings of affiliated companies)( 1,908)( 582)-1,326-69.5%(Other non-operating income)( 2,628)( 2,628)

00.0%

8,140

5,581

-2,559-31.4%(Interest expense)( 3,885)( 3,820)

-65

-1.7%

(Other non-operating expenses)( 4,255)( 1,761)-2,494-58.6%

Ordinary income

33,69625,908-7,788-23.1%

Extraordinary gain

7,706

12,771

5,065

65.7%

Extraordinary loss

1,950

4,343

2,393

122.7%

Income before income taxes

39,452

34,336-5,116-13.0%

Current

13,3099,456-3,853-29.0%

Defferred326-74-400-122.7%

Net income before minority interests

25,817

24,954-863-3.3%

Minority interests

2,086

2,231

145

7.0%

Net income

23,731

22,723-1,008

-4.2%

Item

Non-operating expenses

Change(amount)

Change(percentage)

Income taxes:

Metal One Corporation

Balance Sheets(In ¥ million)
AssetsItem
Current assets

Liabilities and Net Assets

Previous fiscal year
(March 31, 2014)

Current fiscal year
(March 31, 2015)

Change(amount)

Item

Previous fiscal year
(March 31, 2014)

Current fiscal year(March 31, 2015)

Change(amount)

368,536

378,599

10,063Current liabilities

280,480

300,608

Cash and deposits

3,686

4,535

849

Notes payable

14,885

14,616-269

Notes receivable

37,337

36,841-496

Accounts payable

122,729

116,274-6,455

Accounts receivable

217,152

204,799-12,353

Short-term debt

122,340

149,140

26,800Inventories

14,387

13,717-670

Other accounts payable

3,530

5,037

1,507

Other accounts receivable

2,001

13,41911,418Advances from customers

501

321

-180

Reserve for bonuses

744

763

19

Other current liabilities15,747

14,453-1,294

Short-term loans

84,839101,179

16,340

Deferred tax assets

895

899

4

20,128

Other

9,639

5,066

-4,573

Allowance for doubtful receivables-1,403-1,858-455

Non-current assets

174,120

183,356

9,236

Non-current liabilities

69,43762,973-6,464

Tangible assets

3,045

3,340

295

Long-term debt

63,44055,300-8,140

Deferred tax liabilities

5,960

7,593

1,633

36

80

44

Intangible assets

Other

2,843

2,000-843

Investments and other assets

168,231

178,015

9,784

Total liabilities

349,918

363,581

13,663

Investment securities

52,27957,982

5,703

Shareholders’ equity

179,462

179,679217

Equity in affiliated companies

91,813

94,983

3,170

Common stock

100,000

100,000

0

Investments in affiliated companies

19,604

20,477873

Capital surplus

50,00050,0000

10-1

Retained earnings

29,462

29,679217

Long-term receivables

2,191

2,143-48

Other

4,530

4,570

40

Valuation and translation adjustments

13,276

18,695

5,419

Allowance for doubtful receivables-2,191-2,14348

Net unrealized gains on securities

13,276

18,695

5,419

Total net assets

192,738

198,374

5,636

Total liabilities and net assets

542,656

561,956

19,300Long-term loans

Total assets

542,656

561,956

19,300Metal One Corporation

Statements of Income(In ¥ million)
Previous fiscal year
April 1, 2013 toMarch 31, 2014

Current fiscal year
April 1, 2014 toMarch 31, 2015

Sales

1,215,556

1,184,660-30,896-2.5%

Cost of sales

1,185,232

1,156,661-28,571-2.4%

Gross profit

30,32427,998-2,326-7.7%(Gross profit ratio)(2.5%)(2.4%)

Selling, general and administrative expenses

24,96325,757794

3.2%

Operating income

5,360

2,240

-3,120-58.2%

Non-operating income

11,301

16,409

5,108

45.2%

(Interest income)( 633)( 665)

32

5.1%(Dividend income)( 10,292)( 15,474)

5,182

50.3%

(Other non-operating income)( 375)( 269)-106-28.3%

Non-operating expenses

3,850

2,104

-1,746-45.4%(Interest expense)( 737)( 740)

30.4%(Other non-operating expenses)( 3,111)( 1,361)-1,750-56.3%

Ordinary income

12,811

16,546

3,735

29.2%

Extraordinary gain

6,372

909

-5,463-85.7%

Extraordinary loss

1,293

4,402

3,109

240.4%

Income before income taxes

17,89013,053-4,837-27.0%

Current

3,171

489

-2,682-84.6%

Deferred

1,291

369

-922

-71.4%

13,427

12,194-1,233

-9.2%

Item

Year-on-year
Change(amount)

Change(percentage)

Income taxes:

Net income