SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS
Results for the First Half of Fiscal Year 2014
(April 1 – September 30, 2014)

November 5, 2014

MITSUBISHI GAS CHEMICAL COMPANY, INC.
Listed exchanges:

First section of the Tokyo Stock Exchange

Stock Code:

4182

URL:

http://www.mgc.co.jp

President:

Toshikiyo Kurai

Inquiries:

Yoshihisa Kashima
General Manager, Corporate Communications Division
Tel: +81-3-3283-5041
November 11, 2014

Scheduled date of filing of the quarterly financial report:
Scheduled date of payment of dividend:

December 5,2014

1. Summary of Consolidated Results for the First Half of Fiscal Year 2014
(April 1, 2014– September 30, 2014)
1) Operating results
Millions of yen, rounded down
Percentage figures denote change compared to equivalent period of previous year

April 1 – September 30, 2014

April 1 – September 30, 2013

Change %Net sales
Operating income (loss)
Ordinary income (loss)
Net income (loss)
Net income (loss) per share (¥)
Fully diluted net income (loss) per share (¥)

267,861
6,308
23,95321,50847.62-

0.5(37.8)
10.4
15.5-

Change %266,444
10,14821,701
18,625
41.23
-

14.5
154.8
92.0
128.6
-

(Note) Comprehensive income: first half of FY 2014：¥24,862million [(29.3%)] ; first half of FY 2013：¥35,180million [(-%)]

2) Financial position
Millions of yen, rounded down

As of September 30, 2014
676,580
346,133
49.4

Total assets
Net assets
Equity ratio (%)

As of September 30, 2013
657,838
323,858
47.5(Note) Shareholders’ equity as of September 30, 2014: ¥334,110million; as of March 31, 2013: ¥312,226million

2. Cash Dividends
FY 2014
7.00
7.00
14.00

Interim dividend per share (¥)
Year-end dividend per share (¥)
Annual dividend per share (¥)

FY 2013
6.00
6.00
12.00

(Note) Revision of cash dividend forecast during this period: None

3. Consolidated Business Forecasts for Fiscal Year 2014
(April 1, 2013 – March 31, 2015)
Millions of yen, rounded down
Percentage figures denote change compared to equivalent period of previous year

Full year
Change %Net sales
Operating income (loss)
Ordinary income (loss)
Net Income (loss)
Net income (loss) per share (¥)

540,000
14,00040,00030,00066.42(Note) Revision of consolidated business forecasts during this period: None

1

1.0
21.9
29.8
101.1
-

4. Other Information
1) Transfer of important subsidiaries during the period under review: None
(Transfers of certain subsidiaries resulting in changes in the scope of consolidation)2) Adoption of simplified accounting methods: None
3) Changes in accounting policies, changes in accounting estimate or restatement of corrections:
1. Changes in accounting policies following revisions to accounting standards: Yes
2. Changes other than 1: Yes
3. Changes in accounting estimates: None
4. Restatement of corrections: None4)

Number of shares outstanding (ordinary shares)
September 30, 2014

March 31, 2014

Number of shares issued at end of period(including treasury shares)

483,478,398

483,478,398

Number of treasury shares at end of period

31,808,195

31,800,380

April 1 – September 30, 2014
Average shares outstanding during period

451,674,626

April 1 – September 30, 2013
451,702,900(NOTE)
1. These quarterly financial results are not subject to quarterly review procedures. At this time of disclosure of these financial results, the quarterly
financial statement review procedures based on the Financial Instrument and Exchange Law have not been completed.
2. Forecasts, etc., recorded in this document contain forward-looking statements that are based on management’s estimates, assumptions andprojections at the time of publication. A number of factors could cause actual results to differ materially from expectations.

21. Consolidated business results for this period
Starting in the first quarter of fiscal 2014, sales of MGC and its domestic consolidated subsidiaries are nolonger recorded primarily on a delivery basis, but on an inspection basis. The above change in the accounting
policy is applied retroactively in making comparisons with the consolidated financial figures posted for thesame period and at the end of the previous fiscal year.
Note: All comparisons are with the first quarter of the previous fiscal year, unless stated otherwise.

(1)Consolidated operating results
Overview of results
During the first six months of the fiscal year ending March 2015 (April 1-September 30, 2014), the Japanese
economy experienced slow recovery overall, despite the slackened growth of exports and the backlash fromthe last-minute surge in demand before the rise in consumption tax.
The MGC Group achieved an increase in revenue compared with the same prior-year period. The businessrestructuring resulted in lower sales volumes for general-purpose aromatic chemicals such as purified
isophthalic acid. This negative impact, however, was more than offset by positive factors such as an increasein the sales price of methanol and higher sales volume for engineering plastics.
Operating income suffered a loss from a year earlier. Despite improved profitability for exports due to theweaker yen, the Group suffered from the lower profitability of hybrid chemicals for semiconductors, electronicmaterials, and general-purpose chemicals.
Ordinary income increased from the same period of last year. Despite the lower operating profit, equity inearnings of overseas methanol producing companies grew due to the price hike in the beginning of the fiscal
year and the weaker yen.
In the six-month period under review, the MGC Group achieved ¥267.8 billion in consolidated net sales, anincrease of ¥1.4 billion (0.5%). Consolidated operating income was ¥6.3 billion, a decline of ¥3.8 billion(37.8%). Equity in earnings of affiliates was ¥17.7 billion, an increase of ¥5.9 billion (50.3%). Consolidated
ordinary income grew by ¥2.2 billion (10.4%) to ¥23.9 billion. Consolidated net income was ¥21.5 billion, an
increase of ¥2.8 billion (15.5%).
Results by business segment
Natural Gas Chemicals Company
The methanol business recorded an increase in revenue, but lower earnings. Despite higher sales prices,
there was a reduction in the profitability of sales of purchased methanol.
Methanol and ammonia-based chemicals suffered a decline in earnings. Negative factors included higher
repair costs recorded for the ammonia operations due to the turnaround and the lower profitability of
MMA-based products and polyols.
Crude oil and other energy sources posted higher revenue and lower earnings, because fixed costs
increased while the sales price of crude oil rose.
In the six-month period under review, the Natural Gas Chemicals Company achieved consolidated net salesof ¥91.5 billion, an increase of 6.4 billion (7.6%), and an operating income of ¥0.6 billion, a decline of ¥1.3
billion (67.5%). An equity in earnings of affiliates of ¥17.9 billion, coming primarily from overseas methanol
producing companies, resulted in an ordinary income of ¥18.3 billion, up ¥7.4 billion (68.7%).

3

Aromatic Chemicals Company
Specialty aromatic chemical products suffered a reduction in revenue due to the withdrawal from
unprofitable operations such as pyromellitic dianhydride. However, this segment posted higher earnings
partly because the withdrawal made it more profitable and partly because it benefited from an improvement in
the profitability of exports such as meta-xylenediamine thanks to the weaker yen.
General-purpose aromatic chemical products suffered losses in both revenue and earnings. Negative
contributions include reductions in sales volumes for meta-xylene and purified isophthalic acid, as well as thelower profitability of the phthalic anhydride and purified terephthalic acid operations.
Between April and September of fiscal 2014, the Aromatic Chemicals Company achieved consolidated net
sales of ¥64.2 billion, a drop of ¥11.2 billion (14.8%), and an operating income of ¥1.5 billion, a decline of ¥0.5
billion (26.5%). This Company suffered an ordinary loss of ¥0.3 billion (a drop of ¥2.2 billion from the positive
prior-year figure), primarily due to a loss of ¥1.4 billion in equity in earnings of affiliates, which was caused by
the decision to quit the purified terephthalic acid business.
Specialty Chemicals Company
Inorganic chemicals posted a drop in earnings, primarily due to the lower profitability of hydrogen peroxide
and a reduction in lens monomer sales volume.
Electronic chemicals suffered reductions in both revenue and earnings due to a lower profitability of hybrid
chemicals for semiconductors.
In the engineering plastics business, polycarbonates saw an increase in revenue and an improvement inearnings. Major positive factors included a higher sales volume and a reduction in depreciation expenses dueto the impairment loss recognized in the previous fiscal year. By contrast, polyacetal recorded a higher
revenue and lower earnings. Despite a higher sales volume, higher prices of methanol materials and anincrease in fixed costs due to plant expansion contributed to reduced earnings.
Polycarbonate sheets and films suffered a loss in revenue because of reductions in the sales volumes ofhard-coated sheets and other products. However, these sheets and films achieved higher earnings due tohigher sales volumes of films used in flat panel displays and lower depreciation expenses.
In the first half of fiscal 2014, the Specialty Chemicals Company achieved consolidated net sales of ¥81.7
billion, an increase of ¥5.0 billion (6.6%), an operating income of ¥3.2 billion, a decline of ¥0.5 billion (13.9%),
and an ordinary income of ¥2.9 billion, a drop of ¥1.3 billion (31.5%).
Information & Advanced Materials Company
Electronic materials grew in revenue, but suffered a decline in earnings. While BT materials forsemiconductor packaging enjoyed strong demand, there were declines in sales prices and an increase in
fixed costs resulting from the launch of commercial operation of the second site in Thailand.
Oxygen absorbers such as AGELESS® posted declines in both revenue and earnings. The consumption tax
hike and other negative factors drove down sales volumes for products used in domestic food applications.
In the six months between April and September of fiscal 2014, the Information & Advanced Materials
Company achieved consolidated net sales of ¥29.9 billion, an increase of ¥1.1 billion (3.9%), an operating
income of ¥2.2 billion, a drop of ¥1.1 billion (34.5%), and an ordinary income of ¥2.4 billion, a declines of ¥1.2
billion (32.9%).

4

OtherIn the first six months of fiscal 2014, the other business segment achieved consolidated net sales of ¥0.2
billion, a decline of ¥0.0 billion (9.0%), an operating income of ¥0.1 billion, growth of ¥0.0 billion (21.3%), andan ordinary income of ¥0.8 billion, a drop of ¥0.0 billion (4.5%).

(2) Consolidated financial position
At the end of the first six months of fiscal 2014, the MGC Group had ¥676.5 billion in total assets, anincrease of ¥18.7 billion from the end of fiscal 2013.
Current assets increased by ¥11.8 billion to ¥299.4 billion, primarily due to increases in short-term
investments securities as well as cash and deposits.
Noncurrent assets increased by ¥6.9 billion to ¥377.1 billion. Property, plant and equipment fell by ¥1.0
billion to ¥190.2 billion primarily due to depreciation and amortization. Investments and other assets were¥183.7 billion, an increase of ¥8.0 billion, due mainly to the posting of equity in earnings of affiliates and theassessment of the market value of equity holdings.
Liabilities declined by ¥3.5 billion to ¥330.4 billion from the end of fiscal 2013.
Current liabilities increased by ¥7.3 billion to ¥186.2 billion, primarily due to an increase in trade notes andaccounts payable.
Noncurrent liabilities fell by ¥10.8 billion to ¥144.2 billion, primarily due to a decline in long-term loans
payable.
Net assets were ¥346.1 billion, an increase of ¥22.2 billion from the end of fiscal 2013, primarily due to anincrease in retained earnings resulting from the posting of net income. As of September 30, 2014, theshareholders’ equity ratio was 49.4%.

5

3. Consolidated Quarterly Financial Statements(1) Consolidated Quarterly Balance Sheets
Millions of yen, rounded down
As of March 31, 2014

As of September 30, 2014ASSETS
Current assets
Cash and deposits .....................................................

38,772

41,297

Trade notes and accounts receivable ........................

127,817

127,035

Short-term investments securities ..............................

2,130

15,130

Merchandise and finished goods ...............................

61,641

59,410Work in progress ........................................................

10,31910,682

Raw materials and supplies .......................................

27,232

27,843

Other...........................................................................

20,527

18,834

Allowance for doubtful accounts ................................

(798)

(771)

Total current assets ....................................................

287,642

299,462

Buildings and structures, net ...................................

59,27960,616

Machinery, equipment and vehicles, net .................

71,637

72,907

Other, net ................................................................
Total property, plant and equipment .....................

60,39456,759191,311

190,283

Intangible assets
Other ........................................................................

3,169

3,101

Noncurrent assets
Property, plant and equipment

Total intangible assets ..........................................

3,169

3,101

Investments and other assets
Investment securities ...............................................

167,296

176,501

Other ........................................................................

8,499

7,322

Allowance for doubtful accounts ..............................

(81)

(90)

Total investments and other assets ....................

175,714

183,732

Total noncurrent assets ...............................................

370,195

377,117

Total assets ................................................................

657,838

676,5806

Consolidated Quarterly Balance Sheets (contd.)
Millions of yen, rounded down
As of March 31, 2014

As of September 30, 2014

LIABILITIESCurrent Liabilities
Trade notes and accounts payable .............................

71,66578,849

Short-term loans payable ............................................

75,85975,834

Income taxes payable ..................................................

1,570

1,174

Provision ......................................................................

5,016

4,375

Asset retirement obligations ........................................

267

324

Other ............................................................................

24,51825,645

Total current liabilities .............................................

178,897

186,204

Noncurrent liabilities
Bonds payable .............................................................

25,00025,000Long –term loans payable ...........................................

83,481

72,545

Provision ......................................................................

1,220

1,736

Provision for retirement benefits ................................

9,232

9,373

Asset retirement obligations ........................................

3,582

3,650

Other ............................................................................

32,56431,936

Total noncurrent liabilities .......................................

155,081

144,242

Total liabilities .........................................................

333,979

330,446

Capital stock ................................................................

41,97041,970Capital surplus .............................................................

35,59535,595NET ASSETS
Shareholders’ equity

Retained earnings ........................................................

239,831259,284

Treasury stock .............................................................

(8,119)(8,124)

Total shareholders’ equity ................................

309,277

328,725

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities ......................................................................
Revaluation reserve for land ........................................

11,384

14,958206

206

Foreign currency translation adjustment .....................

(7,305)(8,652)Remeasurements of defined benefit plans ..................

(1,337)(1,127)

Total accumulated other comprehensive .............

2,949

5,385

Minority interests ..........................................................

11,632

12,022

Total net assets ......................................................

323,858

346,133

Total liabilities and net assets ............................

657,838

676,5807

(2) Consolidated Quarterly Statements of Income
Millions of yen, rounded down
April 1 - Sep 30, 2013

April 1 - Sep 30, 2014

Net sales.......................................................................

266,444

267,861

Cost of sales .............................................................

225,454

231,134

40,99036,726

Selling, general and administrative expenses ..........

30,84130,418Operating income .........................................................

10,1486,308

Gross profit ................................................................

Non-operating income
Interest income .........................................................

75

91

Dividend income .......................................................

1,013

1,524

Equity in earnings of affiliates ................................
Other .........................................................................

11,842
1,856

17,797
1,237

Total non-operating income ................................

14,78820,651

Interest expense ........................................................

1,444

1,277

Personnel expenses for seconded employees .........

786

615

Other .........................................................................

1,003

1,112

Total non-operating expenses ...............................

3,234

3,006

Ordinary income ...........................................................

21,701

23,953Compensation income ..............................................

-

1,055

Gain on rights and interests ......................................

-

792

Gain on bargain purchase .........................................

-

198

Gain on sales of noncurrent assets ..........................

175

139

Total extraordinary income ................................

175

2,185

Business structure improvement expenses ..............

240

1,143

Impairment loss .........................................................

-

519

Amortization of goodwill ............................................

-

476

Environmental improvement expensive ....................

278-

Total extraordinary losses ................................
Income before income taxes and minority
interests ........................................................................
Income taxes, etc. ................................................................

518

2,139

21,35823,999

2,422

1,951

Net income before minority interests ................................

18,93622,048

Minority interests in income .................................... 276

311

540

Net income ................................................................

18,62521,508Non-operating expenses

Extraordinary income

Extraordinary losses

8

(Consolidated Quarterly Statements of Comprehensive Income)Millions of yen, rounded down
April 1 - Sep 30,2014

April 1 - Sep 30,2013

Income before minority Interests ................................................................18,936

22,048Other comprehensive Income
Valuation difference on available-for-sale securities ............................... 3,311
Foreign currency statements translation adjustment ............................... 4,059
Remeasurements of defined benefit plans ..................
Share of other comprehensive income of associates
accounted for using equity method..............................
Total other comprehensive Income ................................

3,555
1,335

-

184

8,873

(2,260)

16,244

2,814

Comprehensive Income ..............................................

35,18024,862

Total comprehensive Income Attributable to
Owners of the parent.......................................................

34,09723,944

Minority interests ................................................................

1,083

918

9

(3) Consolidated Quarterly Statements of Income
Millions of yen, rounded down
April 1 - September 30
2013

April 1 - September 30
2014

Income before income taxes and minority interests ........................

21,35823,999Depreciation and amortization .........................................................

11,407

11,574

Impairment loss ...............................................................................

-

519

Amortization of goodwill ................................................................

(86)

476

Gain on bargain purchase ...............................................................

-

(198)

Increase (decrease) in allowance for doubtful accounts .................

(97)

(20)

Loss (gain) on disposal of non-current assets ................................

148

306

Increase (decrease) in provision for retirement benefits..................

52-

Increase (decrease) in net defined benefit liability...........................

-

340

Increase (decrease) in provision for directors’ retirement
benefits............................................................................................

(146)

(61)

Interest and dividends income .........................................................

(1,089)(1,616)

Interest expenses ............................................................................

1,444

1,277

Equity in (earnings) losses of affiliates ............................................

(11,842)(17,797)13-

Compensation income................................................................

-(1,055)Gain on rights and interests ............................................................

-

(792)

Business structure improvement expenses ................................

240

1,143

Environment improvement expenses ..............................................

278-

Insurance income ............................................................................

(26)

(13)

Decrease (increase) in notes and accounts receivable trade ................................................................................................

5,699

1,609

Decrease (increase) in inventories ..................................................

(3,897)

3,157

Increase (decrease) in notes and accounts payable trade ................................................................................................

(7,874)

5,139

Net cash provided by (used in) operating activities

Loss (gain) on valuation of short-term and long-term
investment securities ................................................................

Increase (decrease) in accrued consumption taxes. .......................

213

824

Other, net ........................................................................................

(7,051)(1,207)

Subtotal.......................................................................................

8,745

27,606

Interest and dividends income received ..........................................

1,102

1,605

Proceeds from dividends income from affiliates accounted
for by equity method ................................................................

7,486

13,192

Interest expenses paid ................................................................

(1,529)(1,333)

Income taxes (paid) refund ..............................................................

(177)

(654)

Proceeds from insurance income ....................................................

26

13

15,65340,429Net cash provided by (used in) operating activities ....

10

Consolidated Statements of Cash Flows (contd.)
Millions of yen, rounded down
April 1 - September 30,
2013

April 1 - September 30,
2014

Proceeds from sales of short-term investment securities ................

30

37

Purchase of noncurrent assets........................................................

(16,828)(9,394)

Proceeds from sales of noncurrent assets ................................

299

764

Purchase of investment securities...................................................

(251)

(279)

Purchase of shares of subsidiaries .................................................

-

(50)

Proceeds from sales of investment securities ................................

167

109

Payments of loans receivable .........................................................

(663)(1,139)Collection of loans receivable..........................................................

321

171

Other, net ........................................................................................

317

2,203

(16,608)(7,576)2,855(7,475)

Net cash provided by (used in) investing activities

Net cash provided by (used in) investing activities ....
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loan payable........................
Proceeds from long-term loans payable..........................................

5,713

2,831

Payment of long-term loans payable ...............................................

(2,886)(6,956)

Purchase of treasury stock ..............................................................

(11)

(5)

(2,710)(2,710)Cash dividends paid ................................................................
Cash dividends paid to minority shareholders ................................

(474)

(414)

Other, net ........................................................................................

(869)(1,889)Net cash provided by (used in) financing activities ....

1,078

(16,621)

Effect of exchange rate change on cash and cash
equivalents ...........................................................................

3,381

1,358

Net increase (decrease) in cash and cash equivalents.....

3,505

17,590Cash and cash equivalents at beginning of period ...........

26,90737,310

Increase (decrease) in cash resulting from fiscal yearchange of subsidiaries

430

373

Cash and cash equivalents at end of period .....................

30,84355,27411

4. Consolidated Quarterly Segment Information(1) Six-month period ended September 30, 2013 (April 1 – September 30, 2013)
Revenue and earnings by segment
Millions of yen, rounded down
Specialty
Chemicals

Information
andAdvanced
Materials

Other(Note 1)

Adjustment(Note 2)

Consolidated(Note 3)75,49876,732

28,825329－

266,444

938

576

1

31

(6,421)－89,932

76,43677,30928,827360(6,421)

266,444

Segment income (loss)
10,854[Ordinary income (loss)] ................................

1,916

4,286

3,722

929

(7)

21,701Natural Gas
Chemicals

Aromatic
Chemicals

Sales to outside customers ................................
85,058Inter-segment sales ................................
4,873
Total ................................

Notes：
1. The ‘Other’ segment includes operations not included in the other segments, such as listed related companies and real estate business.
2. The adjustment amounts are as follows:
The ¥7 million segment loss adjustment consists of ¥71 million loss in inter-segment sales, and ¥63 million income of overall costs notallocated to segments.
Overall costs include SG&A expenses, financing expenses, and other expenses not allocated to segments.
3. Segment income (loss) is based on ordinary income as provided in the quarterly consolidated statement of income.

(2) Six-month period ended September 30, 2014 (April 1 – September 30, 2014)
Revenue and earnings by segment
Millions of yen, rounded down
Natural Gas
Chemicals

Aromatic
Chemicals

Specialty
Chemicals

Information
andAdvanced
Materials

Other(Note 1)

Adjustment(Note 2)

Consolidated(Note 3)

Sales to outside customers ................................
91,53764,28881,77529,959299－

267,861Inter-segment sales ................................
6,211

1,097

611

0

51

(7,972)－

97,74965,38582,38729,960351(7,972)

267,861

Segment income (loss)
18,314[Ordinary income (loss)] ................................

(352)

2,937

2,497

887

(330)

23,953

Total ................................

Notes：
1. The ‘Other’ segment includes operations not included in the other segments, such as listed related companies and real estate business.
2. The adjustment amounts are as follows:
The ¥330 million segment loss adjustment consists of ¥30 million loss in inter-segment sales, and ¥300 million income of overall costs notallocated to segments.
Overall costs include SG&A expenses, financing expenses, and other expenses not allocated to segments.
3. Segment income (loss) is based on ordinary income as provided in the quarterly consolidated statement of income.

12

SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS (FY 2014)(billions of yen, rounded down）

Net sales

FY 2013

FY 2014H1

H1

ChangeChange(%)

FY2013

FY 2014Full Year

Full Year

ResultForecast

266.4

267.8

1.4

0.5%

534.6

540.0

Natural Gas Chemicals

89.9

97.7

7.8

8.7%

194.8

198.8

Aromatic Chemicals

76.4

65.3

(11.0)(14.5%)

141.6

125.4

Specialty Chemicals

77.3

82.3

5.0

6.6%

154.5

168.1

Information and Advanced Materials

28.8

29.9

1.1

3.9%

55.6

59.4

Other and Adjustment

(6.0)

(7.6)

(1.5)

－

(11.9)(11.8)

10.1

6.3

(3.8)

(37.8%)

11.4

14.0

Natural Gas Chemicals

1.9

(0.6)

(1.3)

(67.5%)

2.7

2.4

Aromatic Chemicals

2.1

1.5

(0.5)

(26.5%)

2.9

2.9

Specialty Chemicals

3.7

3.2

(0.5)

(13.9%)

3.8

5.9

Information and Advanced Materials

3.4

2.2

(1.1)

(34.5%)

4.3

5.1

(1.1)

(1.3)

(0.2)

-

(2.3)

(2.4)

Non‐ operating profit (loss)

11.5

17.6

6.0

52.7%

19.3

26.0

Ordinary income (loss)

21.7

23.9

2.2

(10.4%)

30.7

40.0

Natural Gas Chemicals

10.8

18.3

7.4

68.7%

18.4

27.4

Aromatic Chemicals

1.9

(0.3)

(2.2)

-

2.1

(0.1)

Specialty Chemicals

4.2

2.9

(1.3)

(31.5%)

3.7

6.1

Information and Advanced Materials

3.7

2.4

(1.2)

(32.9%)

4.8

5.0

Other and Adjustment

0.9

0.5

(0.3)

(39.5%)

1.5

1.2

Extraordinary income (loss)

(0.3)

0.0

0.3

－

(13.0)( 5.0)

Income before income taxes and minority interests

21.3

23.9

2.6

(12.4%)

17.7

35.0

Net income

18.6

21.5

2.8

(15.5%)

14.9

30.0

Net income (loss) per share (¥)

41.23

47.62

6.39

33.14

66.42

Annual dividend per share (¥)

6.00

7.00

－

12.00

14.00

Operating income (loss)

Other and Adjustment※Consolidated subsidiaries: 40 , Affiliates : 13 (As of end of March,2014)13Non operating profit (loss)

FY 2013

FY 2014H1

H1

ChangeChange(%)

FY2013

FY 2014Full Year

Full Year

ResultForecast

Equity in earnings of affiliates

11.8

17.7

5.9

50.3%

20.4

28.0

Income (expenses) on financing activities

(0.3)

0.3

0.6

－

(0.1)

－

Foreign currency statements translation adjustment

(0.0)

0.0

(0.1)

－

(0.0)

－

Other

0.0

(0.5)

(0.6)

－

0.0

(2.0)

Total ：Non‐operating profit (loss)

11.5

17.6

6.0

52.7%

19.3

26.0

Compensation income

－

1.0

1.0

－

－

Gain on rights and interests

－

0.7

0.7

－

－

Gain on bargain purchase

－

0.1

0.1

－

－

Gain on sales of noncurrent assets

0.1

0.1

(0.0)

(20.8%)

0.3

Gain on sales of investment securities

－

－

－

－

0.2

Insurance income

－

－

－

－

0.2

Loss (gain) on liquidation of subsidiaries

－

－

－

－

0.1

(0.2)

(1.1)

(0.9)

－

(1.5)

Impairment loss

－

(0.5)

(0.5)

－

(11.6)

Amortization of goodwill

－

(0.4)

(0.4)

－

－

(0.2)

－

0.2

－

(0.4)

Compensation for products

－

－

－

－

(0.3)

Loss on fire accident

－

－

－

－

(0.1)

(0.3)

0.0

0.3

－

(13.0)

Extraordinary income (loss)

and associates
Business structure improvement expenses

Environmental improvement expensive

Total ：Extraordinary income (loss)

14(5.0)