November 06, 2019

Consolidated Financial Results (Japanese Accounting Standards)
for the Six Months Ended September 30, 2019 (Q2 FY 2019)
Company name:
Stock exchange listing:Stock code:
URL:
Representative:
Contact:

Itoham Yonekyu Holdings Inc.
Tokyo Stock Exchange2296

http://www.itoham-yonekyu-holdings.com

Isao Miyashita, President and Representative Director
Kenji Uchiyama, Manager, Investor Relations Section
Tel. +81-3-5723-6885
November 13, 2019
Scheduled date for filing of securities report:
Scheduled date of commencement of dividend payment: Supplementary documents for financial results:
Yes
Quarterly results briefing:
Yes(for analysts and institutional investors)(Amounts of less than one million yen are truncated)

1. Consolidated Financial Results for the Six Months Ended September 30, 2019 (April 1, 2019–September 30, 2019)(1) Consolidated Results of Operations (Accumulated Total)

Six months ended
September 30, 2019
September 30, 2018
(Note) Comprehensive income:Six months ended
September 30, 2019
September 30, 2018(% figures show year-on-year change)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parentMillion Yen% Million Yen% Million Yen% Million Yen%
432,400
9,371 17.9
10,296 19.6
6,927 14.3
1.4
426,425
7,949 -30.5
8,605 -31.4
6,058 -28.0
2.3
5,652 million Yen (-21.2%)
Six months ended September 30, 2019
7,169 million Yen (-4.0%)
Six months ended September 30, 2018
Fully diluted net
Net income per shareincomeYenYen
23.45
23.43
20.49
20.48

(2) Consolidated financial position

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

Total assets
Net assets
Million Yen
Million Yen384,582
224,780
393,392
224,074
As of Septenber 30, 2019
As of March 31, 2019

Equity ratio%
58.1
56.6
223,434 million Yen
222,765 million Yen

2. Dividends

Firstquarter-end

Secondquarter-end

For the fiscal year ended
Yen
March 31, 2019－
March 31, 2020－
For the fiscal year ending
March 31, 2020
(Forecast)(Note) Changes to most recent dividend forecast: None

Third
quarter-end

Fiscalquarter-end

Yen－

Yen
17.00

Yen
17.00

－

17.00

17.00

Yen
0.00
0.00

Total

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2020
(April 1, 2019 to March 31, 2020)
Net Sales

Operating income

Million Yen% Million Yen
865,000
18,000
Full year
1.7(Note) Changes to most recent financial results forecast: Yes(% figures show year-on-year change)
Profit attributable toNet income per shareowners of parent% Million Yen%Yen
14,000 32.2
27.6
47.37

Ordinary income%24.2

1

Million Yen
20,000Consolidated Financial Statements(1) Consolidated Balance Sheets(Million Yen)
As of March 31, 2019ASSETS
Current assets
Cash and deposits
Notes and account receivable - tradeMerchandise 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, netTools, furniture & fixtures, net
Land
Leased assets, net
Others, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Net defined benefit assets
OtherAllowance for doubtful receivables
Total investments and other assets
Total non-current assets
Total Assets

2

As of September 30, 201934,944
98,76967,596
1,740
19,5716,966(9)229,580

32,83087,94170,001
1,837
23,3106,963(9)222,424

36,93831,515
1,454
25,323
1,543
1,972
98,74736,70430,567
1,553
24,993
3,122
1,685
98,62522,576
1,623
24,19921,812
1,574
23,386

24,912
9,162
6,908
(118)
40,865
163,812393,392

23,848
9,770
6,651
(124)
40,145
162,158
384,582(Million Yen)
As of March 31, 2019
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations
Short-term loans payable
Current portion of Long-term loans
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Net defined benefit liability
Asset retirement obligation
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholder's equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholder's equity
Other accumulated comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plan
Total accumulated other comprehensive income
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

3

As of September 30, 2019

63,161
1,671
34,164
5,209
2,131
4,724
96
28,297
139,456

62,468
1,602
28,258
5,189
1,440
3,679
69
25,093
127,800

21,052
1,668
1,206
5,933
29,861
169,317

20,960
1,671
1,210
8,159
32,002
159,802

30,00396,301
95,374(1,849)219,829

30,003
96,267
97,280(1,687)
221,864

5,263
(928)
(2,876)
1,475
2,935
139
1,169
224,074
393,392

4,515
(816)
(3,842)
1,713
1,570
131
1,214
224,780
384,582

(2) Consolidated statements of income and comprehensive income(Consolidated statements of income)(April 1,2019 – September 30, 2019)

Net sales
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Rent income
Equity in income of affiliates
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Rent on real estate
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Insurance income
Gain on step acquisitions
Other
Total extra-ordinary income
Extraordinary loss
Loss on retirement of non-current assets
Loss on valuation of investment securities
Loss on disaster
OthersTotal extra-ordinary expenses
Net income before taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income
Income (loss) attributable to non-controlling interests
Income attributable to owners of parent

4

Six months ended
September 30, 2018
426,425
363,425
63,00055,050
7,949(Million Yen)
Three months ended
September 30, 2019
432,400
366,51365,88656,515
9,371

48
128
212
207
634
1,231

62
141
217
409
652
1,483

496
67
10
574
8,605

435
75
46
558
10,296

2
518
213
288
1,023

43
78
171
13
307

141
13
269
2
427
9,201
2,522
572
3,095
6,105
47
6,058

145
82
9
237
10,365
2,273
1,082
3,356
7,008
81
6,927

(Consolidated statements of comprehensive income)(April 1,2019 – September 30, 2019)

Net income
Other comprehensive income
Valuation difference on available-for- sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plan
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

5Six months ended
September 30, 2018
6,105

(Million Yen)
Three months ended
September 30, 2019
7,008

1,198(358)
(104)
(22)

(621)
111(794)289

350(341)

1,063
7,169

(1,356)
5,652

7,117
52

5,562
90

(3) Consolidated statements of Cash FlowsSix months ended
September 30, 2018
Cash flows from operating activities
Income before income taxes
Depreciation
Increase (decrease) in provision for bonuses
Amortization of goodwill
Interest and dividend income
Interest expenses
Insurance income
Loss on disaster
Equity in earnings of affiliates
Loss (gain) on step acquisitions
Loss (gain) on sales of investment securities
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in notes and accounts payable
Increase (decrease) in net defined benefit liability
Decrease (increase) in net defined benefit asset
Other
SubtotalInterest and dividend income received
Proceeds from insurance income
Interest expenses paid
Payments for loss on disaster
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchases of Investments in Securities
Proceeds from Sales of Investments in Securities
Purchase of investments in subsidiaries resulting in change inscope of consolidation
Proceeds from capital reduction with compensation
Payments of loans receivable
Proceeds from loans receivable
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Cash dividends paid
Other
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
Cash and cash equivalents at end of period6(Million Yen)
Three months ended
September 30, 2019

9,201
4,545
(2,184)
1,051
(177)
496
(308)
269
(207)
(288)
(518)
(9,339)(14,553)
8,660(1,237)(19)(369)(1,937)(6,918)
2,411
300
(496)
(3)
(4,653)(9,360)10,3655,324(1,045)
757
(203)
435
(451)
82(409)(77)
10,885(6,876)(529)(1,670)
(8)
(172)
97
16,503
299
363
(436)
(5,759)10,970(6,655)
(152)
(33)
686

(5,393)
(209)
(32)
207

(71)

-(119)
158
149(6,037)

2,969
(151)
177
248
(2,185)

16,953450(6,873)(5,015)
(499)
5,013
1,244
(9,140)29,284
20,143(5,023)(111)(5,014)(399)(10,548)(350)(2,114)34,64332,528