Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2018
(Based on Japanese GAAP)
November 6, 2018
Company name:
Stock exchange listing:Stock code:
Representative:

CMK CORPORATIONTokyo6958
URL https://www.cmk-corp.com/
President and Chief Executive Officer
Isao Osawa
Administration Division
Inquiries:
Akihiro Okabe
Accounting Department General Manager
Scheduled date to file Quarterly Securities Report:
November 12, 2018
Scheduled date to commence dividend payments:―Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results meeting:
YesTEL03-5323-0231（Amounts less than one million yen are rounded down）

1. Consolidated financial results for the six months ended September 30, 2018 (from April 1, 2018 to September 30, 2018)(1) Consolidated Operating Results (Cumulative)
Net sales

Operating income％ Millions of yen

Millions of yen

Six months ended September 30, 2018
Six months ended September 30, 2017
(Note) Comprehensive income:Six months ended September 30, 2018

(Percentages indicate year-on-year changes)
Profit attributable toOrdinary income
owners of parent44,76941,981

6.6
17.3

1,791
2,136％ Millions of yen

△16.2
148.4

％ Millions of yen

△9.0
155.5

1,805
1,984

1,179
1,630％

△27.6
103.1

13 million yen (△99.2%) Six months ended September 30, 2017 1,740 million yen (―%)
Net income per share

Diluted net income per share
Yen

Six months ended September 30, 2018
Six months ended September 30, 2017

Yen――

19.93
27.54

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen％

107,515
94,67455,31355,892

48.4
55.5As of September 30, 2018
As of March 31, 2018
(Reference) Shareholder’s equity:
As of September 30, 2018

52,012 million yen

As of March 31, 2018

52,498 million yen

2．Cash dividends
Annual dividends per share
1stquarter-end

2ndquarter end
Yen

3rd
quarter end
Yen

FiscalYear-end
Yen

Year ended March 31, 2018
―0.00―
Year ending March 31, 2019―0.00
Year ending March 31, 2019(forecast)―(Note) 1. Revisions to dividend forecasts published most recently: Yes
2. Payment of dividends for the year ending March 31, 2019 is not yet determined.

Total
Yen

Yen

10.00

10.00

――

3．Forecast of consolidated financial results for the year ending March 31, 2019 (from April 1, 2018 to March 31, 2019)
Net sales
Millions of yen

Operating income％Millions of yen

Ordinary income％

90,000％Millions of yen％

yen

3,700 △5.5

3,000

△17.5

50.68

Millions of yen

4,000 △6.2(Note) Revisions to financial forecasts published most recently: No
Full year(Percentages indicate year-on-year changes)
Profit attributable toNet income per shareowners of parent

3.6-1-※ Notes(1)

Changes in significant subsidiaries during the six months ended September 30, 2018
(Changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:NoYes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements:
1)

Changes in accounting policies due to revisions to accounting standards and other regulations:No

2)

Changes in accounting policies due to other reasons:

No

3)

Changes in accounting estimates:

No4)Restatement of prior period financial statements:

No(4) Number of issued shares（common shares）
1) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2018

63,060,164 shares

As of March 31, 2018

63,060,164 shares

As of March 31, 2018

3,862,573 shares

2) Number of treasury shares at the end of the period
As of September 30, 2018

3,862,930 shares

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30,2018

59,197,445 sharesSix months ended September 30, 201759,198,376 shares※This financial results statement is exempt from the audit procedures by certified public accountants or accounting auditors.
※Cautionary statement regarding forward-looking statements, and other information
Forward-looking statements such as operational forecasts contained in this report are based on the information currently available to theCompany and certain assumptions regarded as reasonable, but are not guarantees of the achievements by the Company. Actual results may
differ from any forecasts expressed in the statements due to various factors.

-2-Consolidated financial statements
Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2018
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles,net
Land
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assetsInvestment securities
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets-3-

As of September 30, 201816,32725,009
4,067
3,611
2,141
1,144
△2352,277

29,13025,184
3,914
3,765
2,171
1,410
△2365,552

10,50010,072

13,457

12,879

8,289
1,304
1,236
34,788

8,220
2,030
1,138
34,341

187
183
371

168
189
357

3,751
1,039
2,418
△237,185
42,346

3,793
1,050
2,403
△237,224
41,92450
50
94,67438
38
107,515

(Millions of yen)
As of March 31, 2018
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of bonds
Income taxes payable
Provision for bonuses
Allowance for restructuring
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-forsale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets-4-

As of September 30, 2018

12,972
5,213
5,060
379
490
131
6,150
30,397

12,740
5,750
5,102
602
501
130
6,340
31,168

1,900
5,324
78
167
913
8,384
38,782

2,177
17,603821681,000
21,032
52,201

22,306
16,62813,027△3,134
48,82822,306
16,628
13,615△3,13449,415

1,131

1,162

△02,180
358

0
1,125
307

3,670

2,596

3,393
55,892
94,674

3,301
55,313
107,515

Quarterly consolidated statement of income(Millions of yen)Six months ended
September 30, 2017
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Employees' salaries and bonuses
Provision for bonuses
Retirement benefit expenses
Provision of allowance for doubtful
accounts
Other
Total selling, general and administrativeexpenses
Operating profit
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Insurance income
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Compensation for damage
Total extraordinary losses
Profit before income taxes
Income taxes
Income taxes for prior periods
ProfitProfit attributable to non-controllinginterests
Profit attributable to owners of parent-5-

Six months ended
September 30, 2018

41,98135,6586,322

44,76938,427
6,341

1,368
46
18

1,573
20
13

△14

0

2,767

2,943

4,185

4,550

2,136

1,791

27
45
169
241

19
51
216
286

137
81
175
394
1,984

134
－
137
272
1,805

5－
6
17
29

11
6－
－
17

1
72－
73
1,940
268
－
1,671

0
80
31
111
1,712
271
227
1,213

41

33

1,630

1,179

Quarterly consolidated statement of comprehensive income(Millions of yen)Six months ended
September 30, 2017
ProfitOther comprehensive income
Valuation difference on available-forsale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans,
net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable toowners of parent
Comprehensive income attributable to noncontrolling interests-6-

Six months ended
September 30, 2018

1,671

1,213411

311△340

0△1,180△3△5169
1,740△1,199131,755105△14△92

Quarterly Consolidated statement of cash flow
(Millions of yen)Six months ended
September 30, 2017
Cash flows from operating activities
Profit before income taxes
Depreciation
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of non-current
assetsLoss on retirement of non-current assets
Decrease (increase) in notes and accounts
receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts
payable - trade
Increase (decrease) in provision forbonuses
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating
activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plantand equipment
Purchase of intangible assets
Purchase of investment securities
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing
activities
Cash flows from financing activities
Increase in short-term loans payable
Decrease in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Repayments of finance lease obligations
Proceeds from sales and leasebacks
Proceeds from sales of receivables
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controllinginterests
Net cash provided by (used in) financing
activities-7-

Six months ended
September 30, 2018

1,940
1,980
△72137
20

1,712
2,108
△70
134
2△3△107280△2,439△579△976△200954

128

137

11412
2,161
77
△134
△203

△309
3,00759△116△260

1,900

2,689

△4,086△2,246161

66△2△5△0029△25△6－0
5△3,903△2,204

3,814△3,815100△1,749－△280△207－△107△0△3843,512△3,40914,400△1,782
593
△280
△182
185
138
△0△590△79△23△2,710

12,561

(Millions of yen)Six months ended
September 30, 2017
Effect of exchange rate change on cash andcash equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning ofperiod
Cash and cash equivalents at end of period-8-

Six months endedSeptember 30, 2018

△313

△243

△5,027

12,802

22,671

16,327

17,644

29,130