Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2019
(Based on Japanese GAAP)
November 6, 2019
Company name:
Stock exchange listing:Stock code:
Representative:
Inquiries:

CMK CORPORATIONTokyo6958
URL https://www.cmk-corp.com/
President and Chief Executive Officer
Isao Osawa
Executive Officer Administration Division
Yoshihisa Yamaguchi
Accounting Department General Manager
Scheduled date to file Quarterly Securities Report:
November 12, 2019
Scheduled date to commence dividend payments:―Preparation of supplementary material on quarterly financial results:
Yes
Holding of quarterly financial results meeting:
Yes

TEL03-5323-0231（Amounts less than one million yen are rounded down）

1. Consolidated financial results for the six months ended September 30, 2019 (from April 1, 2019 to September 30, 2019)(1) Consolidated Operating Results (Cumulative)
Net sales

Operating income％ Millions of yen

Millions of yen(Percentages indicate year-on-year changes)
Profit attributable toOrdinary income
owners of parent％ Millions of yen

Six months ended September 30, 2019
42,981 △4.0715
Six months ended September 30, 2018
44,7691,7916.6(Note) Comprehensive income:Six months ended September 30, 201984million yen (519.5 %)Six months ended September 30, 201813million yen (△99.2 %)

△60.0
△16.2

Net income per share779
1,805％ Millions of yen

△56.8
△9.0％

△75.7
△27.6

287
1,179

Diluted net income per share
Yen

Yen

4.85
19.93

――

Net assets

Equity ratio

Six months ended September 30, 2019
Six months ended September 30, 2018
(2) Consolidated financial position
Total assets
Millions of yen

Millions of yen％

101,683
105,189

55,16455,84951.049.9

As of September 30, 2019
As of March 31, 2019(Reference) Shareholder’s equity:
As of September 30, 2019

51,894million yen

As of March 31, 201952,459million yen

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

2ndquarter end

3rdquarter end

FiscalYear-end

Yen

Yen

Yen

Year ended March 31, 20190.00――
Year ending March 31, 2020
0.00―
Year ending March 31, 2020(forecast)―(Note) 1. Revisions to dividend forecasts published most recently: Yes
2. Payment of dividends for the year ending March 31, 2020 is not yet determined.

TotalYen

Yen

11.00

11.00

――3．Forecast of consolidated financial results for the year ending March 31, 2020 (from April 1, 2019 to March 31, 2020)
Net sales
Millions of yen

Operating income％Millions of yen

Ordinary income％ Millions of yen

2,000 △46.9△3.6(Note) Revisions to financial forecasts published most recently: No
Full year

87,000-1-1,700(Percentages indicate year-on-year changes)
Profit attributable to Net income perowners of parentshare％ Millions of yen△54.9

1,200％yen△40.520.27※Notes(1)Changes in significant subsidiaries during the six months ended September 30, 2019
(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, 2019

63,060,164 shares

As of March 31, 2019

63,060,164 shares

As of March 31, 2019

3,863,270 shares

2) Number of treasury shares at the end of the period
As of September 30, 2019

3,863,719 shares

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 201959,196,681 shares

Six months ended September 30, 201859,197,445 shares※This quarterly financial results statement is exempt from the quarterly review 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
the Company 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, 2019
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 assets
Investment securities
Retirement 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, 201925,43624,061
4,260
3,716
2,331
1,282
△2261,066

20,701
21,824
4,639
3,653
2,285
1,295
△27
54,371

9,871

11,95913,244

15,171

8,229
4,973
1,184
37,503

8,240
4,077
1,311
40,760

151
188
339

133
192
325

2,697
969
2,583
△236,228
44,072

2,667
9812,559△236,185
47,2725050
105,189

39
39
101,683

(Millions of yen)
As of March 31, 2019
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of bonds
Income taxes payable
Provision for bonuses
Allowance for restructuring
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
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, 201913,104
4,856
602
253
496
129
6,473
25,917

12,545
4,663
1,352
253
509
127
6,227
25,6796,376
16,01495
157
778
23,422
49,3405,324
14,57484
158
695
20,83846,518

22,306
16,62814,451△3,13450,251

22,306
16,62814,087△3,13449,887

739

714

0
1,235
233

0
1,084
208

2,208

2,007

3,389
55,849105,189

3,269
55,164
101,683

Quarterly consolidated statement of income(Millions of yen)Six months ended
September 30, 2018
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 administrative
expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
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-controllinginterestsProfit attributable to owners of parent-5-

Six months ended
September 30, 2019

44,76938,427
6,341

42,981
37,510
5,470

1,573
20
13

1,636
23
90

5

2,943

3,079

4,550

4,754

1,791

715

19
51
42
173
286

15
49
103
147
316

134
137
272
1,805

136
116
252
779

11
6
170
17
170
80
31
111
1,712
271
227
1,213－
118
30
149
647
215
51
380

33

93

1,179

287

Quarterly consolidated statement of comprehensive income(Millions of yen)Six months ended
September 30, 2018
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, 2019

1,213

380

31

△240
△1,180

0
△246

△51

△24

△1,19913△296
84

105

87

△92

△2Quarterly consolidated statement of cash flow
(Millions of yen)Six months ended
September 30, 2018
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 assets
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in provision forbonuses
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operatingactivities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Collection of loans receivable
Other, net
Net cash provided by (used in) investing
activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Redemption of bonds
Repayments of finance lease obligations
Proceeds from sale and leaseback
transactions
Proceeds from sales of receivables
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing
activities
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-7-Six months ended
September 30, 2019

1,712
2,108
△701342△1080
△579
△200
128

647
2,271
△65
136
△171
△0118
2,190
△317
△426

1112

△309
3,007
59
△116
△260

△64,38965△137△1542,689

4,163△2,246△5,702660△25△605△14△50
16△2,204△5,7063,512△3,40914,400△1,782
593
△280
△182

3,234
△3,234－△1,596－
△301
△101

185－

138
△0△590△23△265△0△649△117

12,561△3,032△243△159

12,802△4,735

16,32725,43629,13020,701