Summary of Consolidated Financial Results
for the Year Ended March 31, 2019
(Based on Japanese GAAP)May 10, 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
Administration Division
Yoshihisa Yamaguchi
Accounting Department General Manager

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
Holding of financial results meeting:

TEL 03-5323-0231

June 26, 2019
June 26, 2019
June 27, 2019
YesYes（Amounts less than one million yen are rounded down）

1. Consolidated financial results for the year ended March 31, 2019 (from April 1, 2018 to March 31, 2019)(1) Consolidated Operating Results
Net sales

Operating income

Millions of yen

Year ended March 31, 2019Year ended March 31, 2018
(Note) Comprehensive income:Year ended March 31, 2019

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

90,23086,894％

Millions of yen％

Millions of yen％Millions of yen％

3.8
15.3

3,767
4,266

△11.7
60.9

3,770
3,917

△3.7
49.0

2,015
3,638

△44.6
69.0

549 million yen (△88.4 %)Year ended March 31, 2018 4,751 million yen (208.9%)
Diluted net income
Ordinary
Operating income/Net income per share
Net income/equity
per share
net sales
income/total assets
Yen

Yen%

Year ended March 31, 2019
34.05
3.8
―
Year ended March 31, 2018
61.46
7.2
―
(Reference) Equity in earnings of affiliated companies
Year ended March 31, 2019 ―million yen
Year ended March 31, 2018 ―million yen%%

3.8
4.2

4.2
4.9

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen％

Yen

105,189
94,67455,84955,89249.9
55.5

886.18886.84As of March 31, 2019
As of March 31, 2018
(Reference) Shareholder’s equity:

As of March 31, 2019 52,459 million yen

As of March 31, 2018 52,498 million yen(3) Consolidated cash flows
Cash flows
from operating activities

Cash flows
from investing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

7,013
5,520△7,278△6,821

9,430△4,94325,436
16,327

Year ended March 31, 2019Year ended March 31, 2018

Cash flows
Cash and cash equivalentsfrom financing activities
at end of period

2．Cash dividends

Yen

Yen

Millions of yen%

Ratio ofdividends tonet assets(Consolidated)
%

0.00
10.00
―
―
Year ended March 31, 2018
0.00
11.00
―
―
Year ended March 31, 2019――――Year ending March 31, 2020 (forecast)(Note) Payment of dividends for the year ending March 31, 2020 is not yet determined.

10.00
11.00
―591
651

16.3
32.31.2
1.2

Annual dividends per share
1st
2nd
3rd
quarter-end quarter-end quarter-end
Yen

Yen

Yen

Fiscalyear-end

Total cash
dividends(Total)

Total

Dividend
payout ratio(Consolidated)―

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

Operating income

Millions of yen％

Millions of yen％

94,000

4.2

4,000

6.2-1-(Percentages indicate year-on-year changes)
Profit attributable toOrdinary income
Net income per shareowners of parent
Millions of yen％

Millions of yen％

Yen

3,600 △4.5

2,700

34.0

45.61

Notes※(1) Changes in significant subsidiaries during the year ended March 31, 2019No

(Changes in specified subsidiaries resulting in the change in scope of consolidation):(2) 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(3 ) Number of issued shares（common shares）
1)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2019

63,060,164shares

As of March 31, 2018

63,060,164 shares

3,863,270shares

As of March 31, 2018

3,862,573 shares

59,197,217sharesYear ended March 31, 201859,198,049 shares

2) Number of treasury shares at the end of the period
As of March 31, 20193) Average number of shares during the period
Year ended March 31, 2019

(Reference) Summary of Non-consolidated Financial StatementNon-consolidated financial results for the year ended March 31, 2019 (from April 1, 2018 to March 31, 2019)(1) Non-consolidated Operating Results(Percentages indicate year-on-year changes)

Net sales

Operating income

Ordinary income

Net income

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

50,37049,631

1.5
6.4

554
1,302

△57.4
251.7

1,449
2,483

△41.6
88.9

916
2,693

△66.0
103.2

Year ended March 31, 2019Year ended March 31, 2018

Diluted net income pershare

Net income per share
Yen

Year ended March 31, 2019Year ended March 31, 2018

15.48
45.50

Yen

――(2) Non-Consolidated financial position
Total assets
As of March 31, 2019
As of March 31, 2018

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen％

Yen

82,56770,79340,50040,56649.1
57.3

684.17685.27(Reference) Shareholder’s equity:
As of March 31, 2019 40,500 million yen

As of March 31, 2018 40,566million yen※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
Consolidated balance sheet(Millions of yen)
As of March 31, 2018

As of March 31, 2019

AssetsCurrent assets
Cash and deposits

16,32725,436

Notes and accounts receivable - trade

25,00924,061Merchandise and finished goods

4,067

4,260

Work in process

3,611

3,716

Raw materials and supplies

2,141

2,331

Other

1,144

1,282

Allowance for doubtful accounts△23△2252,277

61,066

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles

49,433

49,101△38,932△39,229

10,5009,871

70,78069,793

Accumulated depreciation△57,322△56,549

Machinery, equipment andvehicles, net

13,457

13,244Tools, furniture and fixtures

5,220

5,204

Accumulated depreciation△3,984△4,019

1,236

1,184

Land

8,289

8,229

Construction in progress

1,304

4,973

Total property, plant and equipment

34,78837,503

Goodwill

187

151

Other

183

188

Total intangible assets

371

339

Investment securities

3,751

2,697

Retirement benefit asset

1,039

969

Tools, furniture and fixtures,net

Intangible assets

Investments and other assets

Deferred tax assets
Other

62

161

2,355

2,422

Allowance for doubtful accounts

△23

△23

Total investments and other assets

7,185

6,228

42,34644,072Bond issuance cost50

50

Total deferred assets

5050

94,674105,189

Total non-current assets
Deferred assets

Total assets-3-(Millions of yen)
As of March 31, 2018

As of March 31, 2019

Liabilities
Current liabilities
Notes and accounts payable - trade

12,972

13,104

Short-term loans payable

5,213

4,856

Current portion of bonds

5,060

602

Accounts payable - other

5,020

5,589

Lease obligations

310

193

Income taxes payable

379

253

Provision for bonuses

490

496

Allowance for restructuring

131

129

Other819

691

30,39725,917

Total current liabilities
Non-current liabilities
Bonds payable

1,900

6,376

Long-term loans payable

5,324

16,014

Lease obligations

366

341

Deferred tax liabilities

511

406

Retirement benefit liability

78

95

Asset retirement obligations

167

157

Other

36

30

Total non-current liabilities

8,384

23,42238,782

49,340Capital stock

22,30622,306

Capital surplus

16,628

16,628Retained earnings

13,027

14,451

Treasury shares△3,134△3,134

Total shareholders' equity

Total liabilities
Net assets
Shareholders' equity

48,82850,251

Accumulated other comprehensive income
Valuation difference on available-forsale securities
Deferred gains or losses on hedges

1,131

739

△00

Foreign currency translation adjustment

2,180

1,235

Remeasurements of defined benefit plans

358

233

Total accumulated other comprehensive
income

3,670

2,208

Non-controlling interests

3,393

3,389

Total net assets

55,892

55,84994,674105,189

Total liabilities and net assets-4-Consolidated statement of income(Millions of yen)
Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Net sales

86,894

90,230

Cost of sales74,036

77,180Gross profit

12,857

13,050

Selling, general and administrative expenses

8,591

9,283

Operating profit

4,266

3,767

Interest income

46

38

Dividend income8089

Foreign exchange gains－

191

Non-operating income

Rent income

84

78

Other

226

236

Total non-operating income

438

633

Interest expenses

268

279

Other

518

350

Total non-operating expenses

787

630

3,917

3,770

Gain on sales of non-current assets

612

Gain on sales of investment securities

31

195

Insurance income

7－

Subsidy income

17－

Total extraordinary income

62207

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Loss on valuation of investment
securities
Compensation for damage
Other

54

142

329

－

436

113

73

0

162

260

1,005

3,718

2,972

Income taxes - current

541

602

Income taxes for prior periods

－222

△478

△101

62

722

3,656

2,249

Profit attributable to non-controllinginterests

17233

Profit attributable to owners of parent

3,638

2,015

Total extraordinary losses
Profit before income taxes

Income taxes - deferred
Total income taxes
Profit-5-

Consolidated statement of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 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-

Fiscal year ended
March 31, 2019

3,656

2,249244△392△00723△1,182

126

△125

1,094

△1,700

4,751

549

4,629

553

122△3Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Cash flows from operating activities
Profit before income taxes

3,718

2,972

Depreciation

4,108

4,278

3534115

6△27△2△47

△36

△127

△127

Amortization of goodwill
Increase (decrease) in provision forbonuses
Increase (decrease) in allowance for
doubtful accounts
Increase (decrease) in retirement benefit
liability
Interest and dividend income
Interest expenses

268279△147△121－436△1△7142329△2,659585△1,203

△655

1,316

492

79△146573△181

6,1438,135127

126

Interest expenses paid

△239

△272

Income taxes paid

△511

△976

Net cash provided by (used in) operating
activities

5,520

7,013

△7,012△7,464249

69△19△41△10△1143324△1△0Foreign exchange losses (gains)
Loss (gain) on valuation of investment
securities
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 accrued
consumption taxes
Other, net
SubtotalInterest and dividend income received

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
Proceeds from sales and redemption ofinvestment securities
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing
activities

-7-00

△70

△156

△6,821△7,278(Millions of yen)
Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Cash flows from financing activities
Increase in short-term loans payable

7,389

6,841

Decrease in short-term loans payable△7,540△6,903

Proceeds from long-term loans payable400

14,400

Repayments of long-term loans payable△3,517△4,069Proceeds from issuance of bonds－5,062

Redemption of bonds△560△5,081

Proceeds from sales of receivables

△218

9

Repayments of finance lease obligations
Proceeds from sale and leaseback
transactions
Purchase of treasury shares△429△355－181△1△0

Cash dividends paid
Dividends paid to non-controllinginterests
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

△384

△591

△80

△63

△4,943

9,430

△98

△58

△6,343

9,108

22,671

16,327

16,32725,436

Cash and cash equivalents at end of period-8-