Consolidated Financial Results for the Third Quarter Ended December 31, 2018
Asahi Holdings, Inc. [IFRS]
February 1, 2019

Stock code:
Shares listed:

5857
Tokyo Stock Exchange (First Section)

URL:
Representative

https://www.asahiholdings.com
Tomoya Higashiura, Representative Director and President

For further information please contact:

Kunihiko Chogo, General Manager, Corporate Planning &Communications Department

Filing date of Quarterly Report:(Phone) +81-3-6270-1833
February 13, 2019

Start of dividend payment:
Supplementary materials for the financial results:–
Yes

Investor conference for the financial results:

No(Rounded down to the nearest million yen)
1. Results of the nine months ended December 31, 2018 (From April 1, 2018 to December 31, 2018)(1) Results of operations (cumulative)(Percentage: Changes relative to corresponding previous period)
OperatingincomeProfit before
tax

ProfitProfitattributable toowners of parent

Total
comprehensive
incomeMillions of yen %Millions of yen %Millions of yen %Millions of yen %Millions of yen %Revenue
The nine months ended
December 31, 2018
December 31, 2017

Millions of yen%

91,294 3.5
88,197 12.4

9,923 (6.7) 9,221 (10.8)
10,639 31.7 10,342 31.3

6,273 (14.7)
7,357 29.5

Basic earnings per share

Diluted earnings per share

Yen
158.88220.32Yen
158.67220.32The nine months ended
December 31, 2018
December 31, 2017

6,273 (14.3)
7,319 31.2

8,593 15.6
7,432 59.8

(2) Financial Position

As ofDecember 31, 2018
March 31, 2018

Total assets

Total equity

Equity attributable toowners of parent

Equity attributable toowners of parent ratio

Millions of yen
156,684
131,484

Millions of yen
68,76464,435

Millions of yen
68,76464,435

43.9
49.0

%

2. Dividend payments
Dividends per share

Year ended March 31, 2018Year ending March 31, 2019Year ending March 31, 2019
(Forecast)First quarter

Second quarter

Third quarter

Year-end

Annual

Yen

Yen
30.00
60.00

Yen
−
−

Yen
33.00

Yen
63.00

60.00

120.00−−(Note) Revisions in dividend forecast in the current quarter: No

3. Forecast (From April 1, 2018 to March 31, 2019)

OperatingincomeRevenue
Millions of yen

Year ending March 31, 2019

120,000(Percentage: Changes relative to corresponding previous period)%

3.6

Millions of yen

14,000

Profit before
tax
%

1.5

Millions of yen

13,800%

Profit attributable
Basic earnings
toper shareowners of parent
Millions of yen
%
Yen

2.9

9,500

0.9

239.90(Note) Revisions in forecast in the current quarter: No* Notes(1) Changes in significant subsidiaries during the current quarter: No(2) Changes in accounting policies and accounting estimates(i) Changes in accounting policies required by IFRS: Yes(ii) Changes other than (i) above: No(iii) Changes in accounting estimates: No
For details, please refer to page 11 2. Condensed Consolidated Financial Statements (7) Notes on Condensed
Consolidated Financial Statements (3.Changes in accounting policies)”.
(3) Number of issued shares (common stock)(i)

Number of issued shares at the quarter end (including treasury shares)
As of December 31, 201839,854,344 shares

As of March 31, 201839,854,344 shares(ii) Number of treasury shares at the quarter end
As of December 31, 2018

505,487 shares

As of March 31, 2018

255,287 shares(iii) Averaged number of shares during the period (quarterly cumulative period)
Nine months ended December 31, 2018

39,487,710 shares

Nine months ended December 31, 201733,222,363 shares*The quarterly financial statements are not subject to quarterly reviews by accounting auditors.
(Notes on forward looking statements, etc.)
These forecast performance figures are based on the information currently available to the company’s
management and certain assumptions judged rational. Accordingly, these might be cases in which actual resultsmaterially differ from forecasts of this report. Please refer to page 3 “1. Qualitative Information (3) Consolidated
Performance Forecasts” for the assumptions used and other notes.

【Appendix】

Table of contents of the appendix
1. Qualitative Information ................................................................................................................................

2(1) Consolidated Business Performance ........................................................................................................ 2(2) Consolidated Financial Position and Cash Flows for the nine months ended December 31, 2018 ...... 2(3) Consolidated Performance Forecasts ....................................................................................................... 3
2. Condensed Consolidated Financial Statements...........................................................................................

4(1) Condensed Consolidated Statements of Financial Position ................................................................... 4(2) Condensed Consolidated Statements of Income for the nine months ended December 31, 2018 ........ 6(3) Condensed Consolidated Statements of Comprehensive Income for the nine months ended
December 31, 2018 .................................................................................................................................... 7(4) Condensed Consolidated Statements of Changes in Equity ................................................................... 8(5) Condensed Consolidated Statements of Cash Flows .............................................................................. 10(6) Notes on Assumptions for Going Concern ............................................................................................... 11(7) Notes on Condensed Consolidated Financial Statements ...................................................................... 11
1. Reporting entity ................................................................................................................................... 11
2. Basis of preparation ............................................................................................................................ 11
3. Changes in accounting policies ........................................................................................................... 11
4. Significant accounting estimates and associated judgments ............................................................ 12
5. Segment information ........................................................................................................................... 13
6. Subsequent events ............................................................................................................................... 14−

1 −1. Qualitative Information(1) Consolidated Business Performance
In the Japanese economy during the third quarter of the current fiscal year (April 1, 2018 through December
31, 2018), corporate earnings remained generally favorable in a Goldilocks economy despite some differencesamong industries. The future prospects for domestic and international economy continue to be opaque due tomany factors that put brakes on global economic growth including the intensifying trade conflict between the
U.S. and China, issues associated with Brexit and destabilization of administrations in Europe. Under these
conditions, the group’s results in each business segment were as follows.
Precious Metals Business
Revenue from business in the precious metal recycling sector in Japan, South Korea and Malaysia expandedfrom the same period in the previous year. Also, the revenue of precious metal refining business in North
America improved over the same period a year before. As a result of these accomplishments, revenue andoperating income in this segment increased from the same period of the previous year.
Environmental Preservation Business
While the volume of industrial waste discharged in Japan is on a downward trend, revenue in this segment
increased from the same period of the previous year, thanks to efforts to develop new customers. However,operating income in this segment decreased from the same period of the previous year due in part to the impact
of expenses for the withdrawal from photosensitive material business in this fiscal year.
Life & Health Business
The construction demand remained high primarily in the Tokyo metropolitan area, which led to a steadyincrease in revenue from fire-fighting and air-conditioning equipment. However, revenue from health careequipment decreased from the same period of the previous year. Consequently, both revenue and operating
income in this segment were lower than those in the same period of the previous year.
As a result of the above, revenue during the third quarter of the current fiscal year was 91,294 million yen, a
year-on-year increase of 3,097 million yen (+3.5 percent). Operating income was 9,923 million yen, a decreaseof 715 million yen (-6.7 percent) year-on-year. Profit before tax was 9,221 million yen, a year-on-year decreaseof 1,121 million yen (-10.8 percent). Profit was 6,273 million yen, a year-on-year decrease of 1,083 million yen (14.7 percent). Profit attributable to owners of parent for the period was therefore 6,273 million yen, a decreaseof 1,045 million yen (-14.3 percent) year-on-year. By segment, revenue in the Precious Metal Business was
62,352 million yen, a year-on-year increase of 4,870 million yen (+8.5 percent). Revenue in the Environmental
Preservation Business was 12,592 million yen, a year-on-year increase of 547 million yen (+4.5 percent).
Revenue in the Life & Health Business was 16,385 million yen, a year-on-year decrease of 2,343 million yen (12.5 percent).

(2) Consolidated Financial Position and Cash Flows for the nine months ended December 31, 2018
As of December 31, 2018, total assets amounted to 156,684 million yen, up 25,200 million yen from theprevious fiscal year end. This was due mainly to the increase of 26,570 million yen in trade and otherreceivables and the decrease of 4,324 million yen in cash and cash equivalents.
Total liabilities amounted to 87,920 million yen, up 20,871 million yen from the previous fiscal year end.
This was due mainly to the increase of 23,014 million yen in loans payable and decrease of 1,948 million yen
in income tax payable.
Total equity amounted to 68,764 million yen, up 4,329 million yen from the previous fiscal year end. Thiswas due mainly to comprehensive income of 8,593 million yen.
As a result, the equity attributable to owners of parent ratio changed to 43.9%, from 49.0% at the end of theprevious fiscal year.
Net cash used by operating activities amounted to 22,142 million yen due mainly to 9,221 million yen of
profit before tax, 1,743 million yen of depreciation and amortization, 26,723 million yen of increase in tradeand other receivables, 6,265 million yen of income taxes paid.
Net cash used in investing activities amounted to 1,739 million yen due mainly to 1,725 million yen ofpurchase of property, plant and equipment.
−

2 −Net cash provided in financial activities amounted to 19,354 million yen due mainly to 23,717 million yen of
net increase in loans payable and 3,657 million yen of cash dividends paid.
As a result, cash and cash equivalents as of December 31, 2018 decreased 4,324 million yen from March 31,
2018, to 19,815 million yen.

(3) Consolidated Performance Forecasts
Consolidated performance forecast for the fiscal year have not changed from the forecast announced on May
8, 2018.

−3 −2. Condensed Consolidated Financial Statements(1) Condensed Consolidated Statements of Financial Position
As ofMarch 31,
2018

As of
December 31,
2018

Millions ofyenMillions ofyen

ASSETS
Current assets
Cash and cash equivalents

24,14019,815Trade and other receivables
Inventories

36,973
22,46663,54424,063

Income tax receivables
Other financial assets

1,474
660

548
2,921

Other current assets

2,380

2,686

Total current assets

88,096

113,579

32,87032,673

8,243
740

8,243
587

Deferred tax assets
Net defined benefit asset

853
124

969
95

Financial assets
Other non-current assets

537
18

495
39

Total non-current assets

43,388

43,104131,484

156,684

Non-current assets
Property, plant and equipment
Goodwill
Intangible assets

Total assets−

4 −As ofMarch 31,
2018

As of
December 31,
2018

Millions ofyenMillions ofyen

LIABILITIES and EQUITY
Liabilities
Current liabilities
Trade and other payables

14,17915,968Loans payable
Income tax payable

22,515
3,012

45,046
1,064

Other financial liabilities
Provision

506
1,484

679
766

Other current liabilities

3,400

2,436

Total current liabilities
Non-current liabilities

45,09965,962Loans payable
Deferred tax liabilities

18,6001,440

19,083
1,473

Net defined benefit liability
Other financial liabilities

153
1,754

157
1,243

Total non-current liabilities

21,94921,958

Total liabilities
Equity67,04987,920Capital stock
Capital surplus

7,790
10,381

7,790
10,353

Treasury stock
Retained earnings(386)
50,282(955)
52,876

Other components of equity(3,632)(1,300)Total equity attributable to owners of parent

64,43568,764

Total equity

64,43568,764131,484

156,684

Total liabilities and equity−

5 −(2) Condensed Consolidated Statements of Income for the nine months ended December 31, 2018
The nine months
ended December 31,
2017

The nine months
ended December 31,
2018

Millions of yen

Millions of yen

Revenue
Cost of sales

88,197(66,824)

91,294(70,496)

Gross profit
Selling, general and administrative expenses

21,372(10,817)

20,798(10,838)

206
(122)

191
(228)

Operating income

10,639

9,923

Finance income
Finance cost

47
(344)

15
(717)

Profit before tax
Income tax expenses

10,342(2,985)9,221(2,947)

Profit

7,357

6,273

Profit attributable to:
Owners of parent

7,319
37

6,273
−

7,357

6,273

220.32220.32158.88158.67

Other operating income
Other operating expenses

Non-controlling interests
ProfitEarnings per share
Basic earnings per share (Yen)
Diluted earnings per share (Yen)−6 −(3) Condensed Consolidated Statements of Comprehensive Income for the nine months ended
December 31, 2018

Profit

The nine months
ended December 31,
2017

The nine months
ended December 31,
2018

Millions of yen

Millions of yen

7,357

6,273

Other comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans

20

(19)

(2)

(16)

Total items that will not be reclassified to profit or loss

17

(36)

(366)

2,421

Items that will be reclassified to profit or loss
Cash flow hedges
Translation adjustments of foreign operations

423

(65)

Total items that will be reclassified to profit or loss

57

2,356

Other comprehensive income, net of tax

75

2,319

7,432

8,593

Owners of parent
Non-controlling interests

7,391
40

8,593
−

Comprehensive income

7,432

8,593

Comprehensive income
Comprehensive income attributable to:−7 −(4) Condensed Consolidated Statements of Changes in Equity(Millions of yen)
Equity attributable to owners of parent

CapitalsurplusCapitalstock

Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomeIssuance of new shares
Purchase of treasury stock
Disposal of treasury stock
Dividends
Changes in ownershipinterests in subsidiaries
that do not result in loss ofcontrol
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at December 31, 2017

Treasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

4,480
−

6,126
−

(5,371)−42,7837,319(3,618)
−

(104)
−

−

−

−

−

422

(366)

−

−

−

7,319

422

(366)

2,500
−
−
−

2,480
−
1,266
−

−
(0)
4,985
−

−
−
−
(1,955)

−
−
−
−

−
−
−
−

−

(337)

−

−

−

−

−

−

−

(2)

−

−

−

32

−

−

−

−

2,500

3,442

4,985

(1,958)

−

−

6,981

9,569

(386)

48,144(3,196)(470)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomeIssuance of new shares
Purchase of treasury stock
Disposal of treasury stock
Dividends
Changes in ownershipinterests in subsidiaries
that do not result in loss ofcontrol
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at December 31, 2017

Total

Total

Noncontrollinginterests

Total equity

7
−

−
−

(3,716)−44,303
7,319

524
37

44,827
7,357

18

(2)

72

72

2

75

18

(2)

72

7,391

40

7,432

−
−
−
−

−
−
−
−

−
−
−
−

4,981
(0)
6,252
(1,955)

−
−
−
−

4,981
(0)
6,252
(1,955)

3

−

3

(333)

(540)

(874)

0

2

2

−

−

−

−

−

−

32

−

32

3

2

5

8,975

(540)

8,434

−

(3,637)60,67024

60,69428−

8 −(Millions of yen)
Equity attributable to owners of parent

Capitalstock

CapitalsurplusTreasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock

7,790
−

10,381−(386)−

50,282
6,273(3,624)
−

(34)
−

−

−

−

−

(65)

2,421

−

−

−

6,273

(65)

2,421

−

−

(744)

−

−

−

Disposal of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at December 31, 2018

−
−

24
−

70
−

−
(3,667)

−
−

−
−

−

−

−

(11)

−

−

−

(52)

104

−

−

−

−

(27)

(568)

(3,679)

−

−

7,790

10,353(955)

52,876(3,690)2,386(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Disposal of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at December 31, 2018

Total

Total

Total equity

27
−

−
−

(3,632)−64,435
6,273

64,435
6,273

(19)

(16)

2,319

2,319

2,319

(19)

(16)

2,319

8,593

8,593

−
−
−

−
−
−

−
−
−

(744)
95
(3,667)(744)
95(3,667)

(4)

16

11

−

−

−

−

−

52

52

(4)

16

11

(4,264)(4,264)2−(1,300)68,764

68,764−9 −(5) Condensed Consolidated Statements of Cash FlowsThe ninemonths ended
December 31,
2017

The ninemonths ended
December 31,
2018

Millions of yen

Millions of yen

Net cash provided by (used in) operating activities
Profit before tax
Depreciation and amortization

10,342
1,690

9,221
1,743

Impairment loss
Finance income and finance cost

43
315

15
675

Decrease (increase) in inventories
Decrease (increase) in trade and other receivables(4,898)(13,037)(1,590)(26,723)

Increase (decrease) in trade and other payables
Other, net

(456)
1,461

1,584
(1,523)

Subtotal(4,539)(16,598)

16
(319)

15
(661)

(3,243)953(6,265)
1,366(7,132)(22,142)

−
11

(100)
−

Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment(2,268)161(1,725)221

Purchase of intangible assets
Proceeds from sales and redemption of investments

(212)
5

(103)
12

Interest and dividends income received
Interest expenses paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits

Other, net

7

(43)

Net cash provided by (used in) investing activities(2,295)(1,739)Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable

9,767

24,727

Repayment of long-term loans payable
Proceeds from issuance of common stock

(270)
5,001

(1,010)−

Proceeds from sales of treasury stock
Purchase of treasury stock

6,252
(0)

95
(744)

Payment to acquire interests in subsidiaries from noncontrolling interests

(874)

−

Cash dividends paid
Other, net(1,954)(50)(3,657)(55)

Net cash provided by (used in) financing activities

17,871

19,354

Effect of exchange rate change on cash and cash equivalents

11

202

Net increase (decrease) in cash and cash equivalents

8,454(4,324)

Cash and cash equivalents at beginning of period

10,79824,140Cash and cash equivalents at end of period

19,253

19,815−10 −(6) Notes on Assumptions for Going Concern
Not applicable(7) Notes on Condensed Consolidated Financial Statements
1. Reporting entity
Asahi Holdings, Inc. (hereinafter the “Company”) is a company located in Japan. The Company’s condensed
consolidated financial statements for the nine months ended December 31, 2018 comprise the financial
statements of the Company as well as its subsidiaries (hereinafter the “Group”).
For the main activities of the Group, please refer to Note 5. “Segment information.”

2. Basis of preparation(1) Statement of compliance with IFRSThe condensed consolidated financial statements of the Group have been prepared based on IAS 34“Interim Financial Reporting.”
Having met the requirements for a Specified Company under the Designated International AccountingStandards, as prescribed in Article 1-2 of the Ordinance on the Terminology, Forms, and Preparation
Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance No. 64 of 2007), theGroup adopts the provisions of Article 93 of the aforementioned rules.
(2) Basis of measurement
The condensed consolidated financial statements of the Group have been prepared based on costs ofacquisition, except for the specified financial instruments that have been measured at fair value.
(3) Functional currency and presentation currency
The condensed consolidated financial statements of the Group are presented in Japanese yen, which isthe functional currency of the Company, and figures less than one million yen are rounded down to thenearest million yen.

3. Changes in accounting policies
The significant accounting policies adopted for the condensed consolidated financial statements are thesame as those for the consolidated financial statements for the fiscal year ended March 31, 2018, with the
exception of the items described below.
The income tax for the nine months ended December 31, 2018 was calculated based on the estimatedaverage annual effective tax rate.
(Adoption of IFRS 15 “Revenue from Contracts with Customers”)
The Group has adopted IFRS 15 “Revenue from Contracts with Customers”(published in May 2014) and“Clarifications to IFRS 15” (published in April 2016)(hereinafter, collectively referred to as ”IFRS 15”) fromthe first quarter ended June 30, 2018. When applying IFRS 15, as a transition measure the Group applies
this standard retrospectively with the cumulative effects of initially applying this standard recognized at thedate of initial application.
In accordance with IFRS 15, except for interests and dividend income stipulated by IFRS 9 “ Financial
instruments”, revenue is recognizes based on the following five-step model.
Step 1: Identify the contract with a customer
Step 2: Identify the performance obligations in the contract
Step 3: Determine the transaction price
Step 4: Allocate the transaction price to the performance obligations in the contract
Step 5: Recognize revenue when the entity satisfies a performance obligation
Our group is engaged in the sales of precious metals, massage chairs, electrolytic hydrogen water generator,
hearing aids, heating equipment and other items. Regarding these products, revenue is recognized when the
goods are transferred to the customer, a point at which the customer has control of the goods and performanceobligation is deemed to have been satisfied. As for revenue pertaining to intermediate treatment or otherprocessing of industrial wastes, revenue is recognized when the treatment of the said industrial waste iscompleted, a point at which the customer has control and performance obligation is deemed to have been−

11 −

satisfied.
Regarding revenues pertaining to the design, construction and other works on fire-fighting, air conditioning
and sanitary equipment, revenue is recognized in accordance with the progress of performance obligation.
Progress is measured according to input method based on the costs incurred and other means.
Also, revenue is measured at a value derived by deducting discounts, rebates, returns, etc. from theconsideration undertaken in the contract with the customer.
The application of IFRS 15 does not have a significant impact on the performance or financial conditions ofour group.

4. Significant accounting estimates and associated judgments
In preparing condensed consolidated financial statements, the management is required to make judgment,
estimates and assumptions that affect the adoption of accounting policies and the amounts of assets, liabilities,
revenues and expenses. Actual results may differ from such estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. The effect of a change inaccounting estimates is recognized as the accounting period in which such change occurs as well as theaccounting periods to be affected in the future.
The estimates and judgments made by the management that may have material impacts on the figures in
the condensed consolidated financial statements are the same as those for the consolidated financial
statements for the fiscal year ended March 31, 2018.

−

12 −

5. Segment information(1) Overview of reporting segments
The Group’s reporting segments are those Group constituent units for which separate financial
information is obtainable, and which the Board of Directors subjects to regular examination in order todecide the allocation of management resources and evaluate business results.
As a pure holding company, the Company is in charge of overall strategic function for the Group, whereas
operating companies of the Group engage in the precious and rare metals recycling business and therefining and processing business, industrial waste management and other environmental preservation
business, and life & health business including manufacturing and selling of health equipment.
Therefore, the Group is composed of product and service segments based on business sectors. The threereporting segments are the Precious Metal Business, the Environmental Preservation Business, and theLife & Health Business. Meanwhile, these reporting segments are not be aggregated.
The Precious Metals Business engages mainly in recycling and selling of precious and rare metals suchas gold, silver, palladium, and platinum, as well as refining and processing of precious metals such as goldand silver. The main work of Environmental Preservation Business is the collection, transport andintermediate processing of industrial waste. In the Life & Health Business, the main work is the
manufacture and sales of massagers, hearing aids, and other health equipment, the manufacture and salesof electric heaters, the design and installation of radiant heating and air conditioning systems, and thedesign and installation of disaster prevention equipment.
(2) Segment revenue and performance
Accounting policies of the reporting segments are the same as those of the Group stated in “Note 3.
Changes in accounting policies.”
Revenue and other performance of each reportable segment of the Group are as follows.
For the nine months ended December 31, 2017 (from April 1, 2017 to December 31, 2017)(Millions of yen)
Reporting segment
Environmental
Preservation
Business

Life & HealthBusiness

57,481−

11,987

18,728

57

0

Total

57,481

12,044

Operating income by businesssegment

8,623

2,620

Precious Metals
Business

Revenue
External revenue
Intersegment revenue

Total

Adjustment

Consolidated

88,197

−

57

(57)

88,197−

18,72888,254(57)

88,197

1,194

12,438(1,799)10,639Finance income

47

Finance costs(344)

Profit before tax

10,342(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

−

13 −

For the nine months ended December 31, 2018 (from April 1, 2018 to December 31, 2018)(Millions of yen)
Reporting segment
Precious Metals
Business

Environmental
Preservation
Business

Life & HealthBusiness

62,352−

12,55734

16,385
091,29434

62,352

12,592

16,385

8,720

2,446

591

Total

Adjustment

Consolidated−(34)

91,294−

91,329(34)

91,294

11,758(1,834)

9,923

Revenue
External revenue
Intersegment revenue
Total
Operating income by businesssegment
Finance income
Finance costs

15
(717)

Profit before tax

9,221(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

6. Subsequent events
Not applicable−

14 −