Summary of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Fiscal 2013 Ended March 31, 2013
May 14, 2013
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2012: April 1, 2011-March 31, 2012
Fiscal 2013: April 1, 2012-March 31, 2013
Fiscal 2014: April 1, 2013-March 31, 2014

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the Fiscal 2013 (April 1, 2012 through March 31, 2013)(1) Operating Results
Net Sales
Ordinary income
Operating income
FY3/13
FY3/12Millions of Yen
747,616
727,849%
2.7
0.2*comprehensive income Fiscal 2013

Millions of Yen
40,65929,18529,615EPS

Millions of Yen
32,667
18,496

Net income% Millions of Yen%
76.6
11,329 44.4
149.5
7,845 76.3

Fiscal 2012 2,111

Diluted EPS
Yen
9.22
7.16

FY3/13
FY3/12

%
39.3
77.6

ROE

Yen

%
6.3
5.1

－
－

*equity in earnings of unconsolidated subsidiaries and affiliates Fiscal 2013

Operating income
to net sales
%
5.4
4.0

ROA
%
3.3
1.9

(1,097) Fiscal 2012 (3,011)(2) Financial Position
Total assets
Millions of Yen
982,473982,231

FY3/13
FY3/12*Equity : Fiscal 2013

191,427

Total net assets
Millions of Yen
219,826
196,144

Equity ratio

Equity per shareYen
155.85138.09

%
19.5
17.3

Fiscal 2012 169,614(3) Consolidated Cash Flows
Cash flows fromoperating activities
Millions of Yen
61,50536,625

FY3/13
FY3/12

Cash flows frominvesting activities
Millions of Yen(16,441)(17,252)

Cash flows fromfinancing activities
Millions of Yen(51,792)(19,228)

Cash and cash equivalents
at end of year
Millions of Yen
54,40859,785

2. Dividends
Dividend per share
Total amount of
cash
dividends(annual)

Dividend ratio(consolidated)

Ratio of total amountof dividends toshareholder’sequity(consolidated)
%

1Q

2Q

3Q

4Q

Total

Yen

Yen

Yen

Yen

Yen

Millions of Yen%

FY3/12

—

2.00

—

2.00

4.00

4,945

55.9

2.8

FY3/13

—

2.00

—

2.00

4.00

4,945

—

2.00

—

2.00

4.00

43.4
37.8

2.7

FY3/14(forecast)

3. Consolidated Results Forecast for the Fiscal 2014 (April 1, 2013 through March 31, 2014)
Net sales
Ordinary income
Net income
Operating income
Millions of Yen%

Millions ofYen%Millions of Yen%

EPSMillions of
Yen

%

Yen

1HFY3/14

382,000

8.1

14,000

31.8

9,000

97.1

1,500

178.1

1.22

FY3/14

798,000

6.7

48,00018.1

40,00022.4

13,000

14.7

10.58

This forecast is based on the information available at the date of publication of this material and assumptions at the same datewith respect to the various factors which might have impact on the future financial results. Actual results may differ
materially from this forecast due to various factors.

Page 1 of 9

Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.

Item
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Short-term loans receivable
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

FY3/12(As of 3/31/12)(Millions of Yen)
FY3/13(As of 3/31/13)

64,505
167,638
26,155
4,773
37,14512,756
12,361
10,928(1,766)334,496

59,379174,336
25,9204,788
36,455
10,444
11,431
9,537(1,587)
330,706

150,556
106,117
151,935
10,67942,501
461,789

146,664
108,314
152,625
9,104
40,780457,489

12,34329,61741,96011,30330,275
41,57878,574
71,140(5,730)143,984
647,735
982,231

85,12874,282(6,713)
152,698
651,766
982,473

Page 2 of 9

All yen figures are rounded down to the nearest one million yen.

Item
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds
Income taxes payable
Deferred tax liabilities
Provision for bonuses
Provision for directors’ bonuses
Provision for loss on assignment of business
Other provision
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for retirement benefits
Provision for directors’ retirement benefits
Provision for loss on business of subsidiaries
and affiliates
Provision for special repairs
Provision for asset removal
Other provision
Lease obligations
Asset retirement obligation
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Adustments for emplyee retirement benefit ofoverseas subsidiary
Total accumulated other comprehensive
incomeMinority interests in consolidated subsidiaries
Total net assets
Total liabilities and net assets

FY3/12(As of 3/31/12)(Millions of Yen)
FY3/13(As of 3/31/13)

84,300251,71030,366
3,251
471
4,395
7
4,191
1,468
68,017448,180

85,010274,760
11,47811,000
402
4,711
7
2,971
1,922
70,327
462,591

22,143205,965
12,887
5,285
24,802550

32,385
155,336
14,004
5,285
25,448
505

138

138

286
2,002
330
16,792
7,103
39,619337,907

343
1,866
669
17,404
8,032
38,634300,054786,087

762,646

86,17450,63685,041(916)
220,935

86,17450,636
91,174(934)
227,051

985

3,168

20
4,710
(53,678)

78
4,563(39,640)(3,358)(3,793)(51,321)(35,624)

26,529196,144

28,399219,826

982,231

982,473

Page 3 of 9

Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

Item
Net sales(Millions of Yen)
FY3/12
FY3/13(As of 3/31/12) (As of 3/31/13)
727,849
747,616

Cost of sales

581,814

587,498

Gross profit

146,034

160,118

Selling, general and administrative expenses

116,849

119,459

Operating income

29,18540,659Interest income

508

439

Dividends income

1,864

683

Other

5,136

6,231

7,510

7,355

9,490

9,052

3,011

1,097

Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries andaffiliates
Other
Total non-operating expenses
Ordinary income

5,696

5,197

18,19915,347

18,496

32,667

2,589

3,575

137

82

4,848
7,575

1,260
4,918

2,467
15

4,613
90

Extraordinary income
Gain on disposal of property, plant, and equipment
Gain on sales of investment securities
Other
Total extraordinary income
Extraordinary loss
Loss on disposal of property, plant, and equipment
Loss on sale of investment securities
Loss on valuation of investment securities
Impairment loss
Loss on business withdrawal

586

878

1,141

3,003

789

240

Loss on disaster

2,637

－

Other

2,657

1,764

10,294

10,590

Income before income taxes and minority interests

Total extraordinary losses

15,777

26,995

Income taxes-current

5,032

13,018

Income taxes-deferred

2,162

1,653

Net Income before minority interests

8,582

12,323

Minority interests in income
Net income

736

994

7,845

11,329Page 4 of 9

Consolidated Statements of Comprehensive Income
All yen figures are rounded down to the nearest one million yen.

Item
Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Adjustments for employee retirement benefit of overseas
subsidiary
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to :Shareholders of Taiheiyo Cement Corporation
Minority interests

FY3/12(As of 3/31/12)
8,582(Millions of Yen)
FY3/13(As of 3/31/13)
12,323

(581)
(22)
605
(3,157)

1,854
35
－
9,934

(912)

(434)

(2,403)

5,901(6,471)
2,111

17,291
29,615

1,622
488

27,1742,440

Page 5 of 9

Consolidated Statements of Changes in Net Assets
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)
Item
Shareholders’ equity
Capital stock
Balance at pre end of term
Issuance of new stock
Total changes of items during the period
Balance at end of this term
Capital surplus
Balance at pre end of term
Issuance of new stock
Disposal of treasury stock
Total changes of items during the period
Balance at end of this term
Retained earnings
Balance at pre end of term
Dividends from surplus
Net profit of this term
Reversal of revaluation reserve for land
Change in scope of consolidation
Decrease of affiliates accounted for by equity method
Total changes of items during the period
Balance at end of this term
Treasury stock
Balance at pre end of term
Purchase of treasury stock
Disposal of treasury stock
Total changes of items during the period
Balance at end of this term
Total shareholders’ equity
Balance at pre end of term
Issuance of new stock
Dividends of surplus fundNet profit of this term
Reversal of revaluation reserve for land
Purchase of treasury stock
Disposal of treasury stock
Change in scope of consolidation
Decrease of affiliates accounted for by equity method
Total changes of items during the period
Balance at end of this term
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Balance at pre end of term
Net changes of items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Deferred gains or losses on hedges
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Revaluation reserve for land
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Foreign currency translation adjustment
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term

FY3/12(As of 3/31/12)

FY3/13(As of 3/31/13)

69,49916,675
16,67586,174

86,174－－
86,17433,962
16,675(0)
16,67450,63650,636－(0)(0)
50,63682,952(4,809)7,845
37
35(1,019)2,088
85,04185,041(4,914)
11,329
3
－
(284)
6,133
91,174

(918)
(12)
14
1
(916)

(916)
(19)
1
(17)
(934)

185,495
33,350(4,809)
7,845
37
(12)
14
35
(1,019)35,440220,935

220,935－(4,914)
11,329
3
(19)
1
－
(284)
6,116
227,051

2,393(1,408)(1,408)
985

985
2,182
2,182
3,168

54
(34)
(34)
20

20
58
58
78

4,447
263
263
4,710

4,710
(147)
(147)
4,563

(49,503)(4,175)(4,175)(53,678)(53,678)
14,03814,038(39,640)
Page 6 of 9

Adjustments for employee retirement benefit of overseas
subsidiary
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Total other comprehensive income
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Minority interests
Balance at pre end of term
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term
Total net assets
Balance at pre end of term
Issuance of new stock
Dividends of surplus fundNet income
Reversal of revaluation reserve for land
Purchase of treasury stock
Disposal of treasury stock
Change in scope of consolidation
Decrease of affiliates accounted for by equity method
Net changes in items other than shareholders’ equity
Total changes of items during the period
Balance at end of this term

(2,446)(912)(912)(3,358)(3,358)(434)(434)(3,793)(45,053)(6,267)(6,267)(51,321)(51,321)
15,696
15,696(35,624)

26,378151
151
26,52926,5291,869
1,869
28,399166,819
33,350(4,809)
7,845
37
(12)
14
35
(1,019)(6,115)29,324
196,144

196,144－(4,914)
11,329
3
(19)
1
－
(284)
17,56523,682219,826

Page 7 of 9

Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

Item
Cash flows from operating activities:
Income before income taxes and minority interests(-)
Depreciation and amortization
Amortization of goodwill
Equity in(losses) earnings of unconsolidated subsidiaries
and affiliates
Loss on valuation of investment securities
Decrease in provision for retirement benefits
Decrease in provision for directors’ retirement benefits
Decrease(Increase) in provision for bonuses
Decrease in allowance for doubtful accounts(Decrease)Increase in provision for removal of assets
Increase(decrease) in other provisionInterest and dividends income
Interest expenses
Loss(Gain) on sales of investment securities
Loss (Gain) on sales of property, plant, and equipment
Impairment loss
(Increase) Decrease in notes and accounts receivable-trade(Increase) Decrease in inventories(Increase) Decrease in notes and accounts payable-trade
Loss on disaster
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by(used in) operating activities
Cash flows from investing activities:
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of other depreciated assets
Proceeds from sales of other depreciated assets
Purchase of investment securities
Proceeds from sales 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:
Net increase(decrease) in short-term loans payable
Net increase in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Proceeds from issuance of stock
Proceeds from sales of treasury stock
Purchase of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Net cash provided by(used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Decrease in cash and cash equivalents resulting from change ofscope of consolidation
Increase in cash and cash equivalents resulting from merger withunconsolidated subsidiaries
Cash and cash equivalents at end the period(Millions of Yen)
FY3/12
FY3/13(As of 3/31/12) (As of 3/31/13)
15,777
41,624
2,094

26,99539,422
2,004

3,011

1,097

586
(1,161)
(76)
245
(73)
(425)
(1,208)(2,373)
9,490
(121)
(122)
1,141
(18,005)
(429)
5,667
2,637
(9,939)48,3402,722(9,397)(5,040)878(3,477)
(44)
322
781
(135)
(371)
(1,123)
9,052
7
1,037
3,003
(4,992)
2,822
(471)
－
(2,180)74,6291,420(9,056)(5,488)36,99561,505

1,315(23,894)
5,041
(77)
2
(1,332)
1,598(2,558)1,970
680(17,252)(195)(24,937)
7,652
(45)
－
(878)
941
(818)
1,776
63
(16,441)(23,780)(12,000)
62,388(59,474)600(20,371)
33,3502(12)(4,809)(466)
5,347(19,227)(1,666)(1,521)
61,265(30,167)－
45,934(50,159)
21,800(30,446)－1(18)(4,914)(559)(3,262)(51,792)
1,597(5,129)59,785

(5)

(247)

47

－

59,78554,408Page 8 of 9

Segment Information
All yen figures are rounded down to the nearest one million yen.

[Industry Segments]
MineralCementResources
Business
Business
Net sales(1) Net sales tooutside469,846
customers(2) Intersegment
12,117net sales
Total
481,963
Operating
26,377
income(loss)

Environmental
Business(Millions of Yen)
FY3/13 (4/1/12 – 3/31/13)
Construction Ceramics &Eliminations
ConsolidatedMaterials
Electronics OtherTotal
or corporate
total
Business
Business
assets66,43073,76081,074

12,22744,276

747,616—

18,663

5,274

4,287

19

25,42565,788(65,788)—

85,09379,03585,362

12,247

69,702

813,405(65,788)

747,616

4,109

7,228

1,951

(1,356)

3,260

41,571(911)

40,659All yen figures are rounded down to the nearest one million yen.

[Geographic segments]
Net sales
Noncurrent
assetsJapan
626,305

America
42,595339,00753,497(Millions of Yen)
Other
Total
78,715
747,616
64,984457,489

Page 9 of 9

747,616