Consolidated Financial Results for the First Quarter Ended June 30, 2018
Asahi Holdings, Inc. [IFRS]July 27, 2018

Stock code:
Shares listed:

5857
Tokyo Stock Exchange (First Section)

URL:
Representative

https://www.asahiholdings.com
Tomoya Higashiura, Representative Director and President

For further information please contact:

Hisanobu Aoki, Corporate Planning & Communications
Department General Manager

Filing date of Quarterly Report:(Phone) +81-3-6270-1833
August 10, 2018

Start of dividend payment:
Supplementary materials for the financial results:–
Yes

Investor conference for the financial results:

No(Rounded down to the nearest million yen)
1. Results of the three months ended June 30, 2018 (From April 1, 2018 to June 30, 2018)(1) Results of operations (cumulative)(Percentage: Changes relative to corresponding previous period)
OperatingincomeProfit before
tax

ProfitProfitattributable toowners of parent

Total
comprehensive
income%Millions of yen %Millions of yen %Millions of yen %Millions of yen %Millions of yen %31,914 (1.7)
32,476 16.8

3,542 1.5
3,491 32.0

3,345 (1.7)
3,402 35.2

2,373 (0.4)
2,381 25.8

2,373 1.3
2,343 24.7

1,948 21.0
1,610 −

Revenue
The three months ended
June 30, 2018
June 30, 2017

Millions of yen

Basic earnings per share

Diluted earnings per share

Yen
59.93
71.89

Yen
59.76
71.89

The three months ended
June 30, 2018
June 30, 2017
(2) Financial Position

As ofJune 30, 2018
March 31, 2018

Total assets

Total equity

Equity attributable toowners of parent

Equity attributable toowners of parent ratio

Millions of yen
126,019
131,484

Millions of yen
65,11864,435

Millions of yen
65,11864,435

51.7
49.0

%

2. Dividend payments
Dividends per share

Year ended March 31, 2018Year ending March 31, 2019Year ending March 31, 2019
(Forecast)First quarter

Second quarter

Third quarter

Year-end

Annual

Yen

Yen
30.00

Yen
−

Yen
33.00

Yen
63.00

37.00

−

37.00

74.00

−
−

(Note) Revisions in dividend forecast in the current quarter: No

3. Forecast (From April 1, 2018 to March 31, 2019)

OperatingincomeRevenue
Millions of yen

1st half
Year ending March 31, 201960,000120,000(Percentage: Changes relative to corresponding previous period)

%

4.4
3.6

Profit before
tax%

Millions of yen

6,700
14,0005.0
1.5

Millions of yen

6,600
13,800%

Profit attributable
Basic earnings
toper shareowners of parent
Millions of yen
%
Yen

6.1
2.9

4,500
9,500

5.1
0.9

113.64239.90(Note) Revisions in forecast in the current quarter: Yes
For details, please refer to “Notice of Revision of Financial Forecasts” made public on July 27, 2018.
* Notes(1) Changes in significant subsidiaries during the current quarter: No(2) Changes in accounting policies and accounting estimates(i) Changes in accounting policies required by IFRS: Yes(ii) Changes other than (i) above: No(iii) Changes in accounting estimates: No
For details, please refer to page 11 2. Condensed Consolidated Financial Statements (7) Notes on Condensed
Consolidated Financial Statements (3.Changes in accounting policies)”.
(3) Number of issued shares (common stock)(i) Number of issued shares at the quarter end (including treasury shares)
As of June 30, 201839,854,344 shares

As of March 31, 201839,854,344 shares(ii) Number of treasury shares at the quarter end
As of June 30, 2018

255,337 shares

As of March 31, 2018

255,287 shares(iii) Averaged number of shares during the period (quarterly cumulative period)
Three months ended June 30, 2018

39,599,045 shares

Three months ended June 30, 201732,599,307 shares*The quarterly financial statements are not subject to quarterly reviews.
(Notes on forward looking statements, etc.)
These forecast performance figures are based on the information currently available to the company’s
management and certain assumptions judged rational. Accordingly, these might be cases in which actual resultsmaterially differ from forecasts of this report. please refer to page 3 “1. Qualitative Information (3) Consolidated
Performance Forecasts” for the assumptions used and other notes.

【Appendix】

Table of contents of the appendix
1. Qualitative Information ................................................................................................................................

2(1) Consolidated Business Performance ........................................................................................................ 2(2) Consolidated Financial Position and Cash Flows for the three months ended June 30, 2018 ............. 2(3) Consolidated Performance Forecasts ....................................................................................................... 3
2. Condensed Consolidated Financial Statements...........................................................................................

4(1) Condensed Consolidated Statements of Financial Position ................................................................... 4(2) Condensed Consolidated Statements of Income for the three months ended June 30, 2018 ............... 6(3) Condensed Consolidated Statements of Comprehensive Income for the three months ended June30, 2018...................................................................................................................................................... 7(4) Condensed Consolidated Statements of Changes in Equity ................................................................... 8(5) Condensed Consolidated Statements of Cash Flows .............................................................................. 10(6) Notes on Assumptions for Going Concern ............................................................................................... 11(7) Notes on Condensed Consolidated Financial Statements ...................................................................... 11
1. Reporting entity ................................................................................................................................... 11
2. Basis of preparation ............................................................................................................................ 11
3. Changes in accounting policies ........................................................................................................... 11
4. Significant accounting estimates and associated judgments ............................................................ 12
5. Segment information ........................................................................................................................... 13
6. Subsequent events ............................................................................................................................... 14−

1 −1. Qualitative Information(1) Consolidated Business Performance
In the Japanese economy during the first quarter of the current fiscal year (April 1, 2018 through June 30,2018), moderate expansion continued on the back of improvements in corporate performance and employment
situation. On the other hand, the U.S. government’s protectionist trade policy has raised concerns over its
impact on the future economic environment and financial market. Under these conditions, the group’s resultsin each business segment were as follows.
Precious metals business
Sales revenue from business in the precious metal recycling sector in Japan, South Korea, and Malaysia,
expanded from the same period in the previous year. The performance of precious metal refining business inNorth America improved over the same period in the year before. As a result of these accomplishments, sales
revenue and operating income in this segment expanded from the same period in the preceding year.
Environmental preservation business
While the volume of industrial waste discharged in Japan is on a downward trend, sales revenue in thissegment increased from the same period in the preceding year, thanks to efforts to develop new customers.
However, operating income in this segment was lower than in the previous year due in part to the impact ofcontraction of photosensitive material business geared with an eye on withdrawal.
Life & health business
The construction demand remained high primarily in the Tokyo metropolitan area, which led to a steadyincrease in sales revenue from fire-fighting and air-conditioning equipment. However, sales revenue fromhealth-related equipment including massage chairs decreased from the same period in the previous year.
Consequently, sales revenue and operating income in this segment were lower than in the same period a year
before.
As a result of the above, revenue during the first quarter of the current fiscal year was 31,914 million yen, a
year-on-year decrease of 561 million yen (-1.7percent). Operating income was 3,542 million yen, an increase of
50 million yen (+1.5 percent) year-on-year. Profit before tax was 3,345 million yen, a year-on-year decrease of
56 million yen (-1.7 percent). Profit was 2,373 million yen, a year-on-year decrease of 8 million yen (-0.4 percent).
Profit attributable to owners of parent for the period was therefore 2,373 million yen, an increase of 29 million
yen (+1.3 percent) year-on-year. By segment, revenue in the precious metal business was 22,936 million yen, a
year-on-year increase of 1,052 million yen (+4.8 percent). In the environmental preservation business, revenue
was 4,057 million yen, and increase of 78 million yen (+2.0 percent) year-on-year. Revenue in the life & healthbusiness was 4,938 million yen, and decrease of 1,697 million yen (-25.6 percent) year-on-year.

(2) Consolidated Financial Position and Cash Flows for the three months ended June 30, 2018
As of June 30, 2018, total assets amounted to 126,019 million yen, down 5,465 million yen from the previous
fiscal year end. This was due mainly to the decrease of 2,909 million yen in cash and cash equivalents and thedecrease of 1,383 million yen in inventories.
Total liabilities amounted to 60,901 million yen, down 6,147 million yen from the previous fiscal year end.
This was due mainly to the decrease of 3,175 million yen in trade and other payables, the decrease of 1,941
million yen in income tax payable and the decrease of 1,166 million yen in other current liabilities.
Total equity amounted to 65,118 million yen, up 682 million yen from the previous fiscal year end. This wasdue mainly to comprehensive income of 1,948 million yen.
As a result, the equity attributable to owners of parent ratio changed to 51.7%, from 49.0% at the end of theprevious fiscal year.
Net cash used in operating activities amounted to 1,396 million yen due mainly to 3,345 million yen of profit
before tax , 580 million yen of depreciation and amortization, 1,385 million yen of decrease in inventories,
3,338 million yen of decrease in trade and other payables, and 4,073 million yen of income taxes paid .
Net cash used in investing activities amounted to 575 million yen due mainly to 719 million yen of purchaseof property, plant and equipment.
Net cash used in financial activities amounted to 1,043 million yen due mainly to 1,294 million yen of cash−

2 −

dividends paid.
As a result, cash and cash equivalents as of June 30, 2018 decrease 2,909 million yen from March 31, 2018,
to 21,230 million yen.

(3) Consolidated Performance Forecasts
The Company revised the first half period consolidated financial forecasts, owing to the performance of the
precious metal recycling sector in Japan, South Korea, and Malaysia, exceeding our initial estimates, and therecovering performance of precious metal refining business in North America.

Revision of the First Half Period Consolidated Financial Forecast(April 1, 2018 to September 30, 2018）(Millions of yen, %)ProfitBasic
attributableearnings
to owners ofper share
parent(yen)

Revenue

OperatingincomeProfitbefore tax

Previous Forecast (A)( Announced on May 8, 2018 )

60,000

6,500

6,400

4,400

111.11

Revised Forecast (B)

60,000

6,700

6,600

4,500

113.64

Change (B−A)

−

200

200

100

−

Change (%)

−

3.1

3.1

2.3

−

(Ref.) Previous Fiscal YearFirst Half Results(Six Months Ended
September 30, 2017)57,489

6,383

6,220

4,283

131.39−3 −2. Condensed Consolidated Financial Statements(1) Condensed Consolidated Statements of Financial Position
As ofMarch 31,
2018

As of
June 30,
2018

Millions ofyenMillions ofyen

ASSETS
Current assets
Cash and cash equivalents

24,14021,230Trade and other receivables
Inventories

36,973
22,46636,811
21,083

Income tax receivables
Other financial assets

1,474
660

1,508
538

Other current assets

2,380

1,732

Total current assets

88,09682,90432,87032,758

8,243
740

8,243
700

Deferred tax assets
Net defined benefit asset

853
124

720
161

Financial assets
Other non-current assets

537
18

492
38

Total non-current assets

43,388

43,114131,484

126,019

Non-current assets
Property, plant and equipment
Goodwill
Intangible assets

Total assets−

4 −As ofMarch 31,
2018

As of
June 30,
2018

Millions ofyenMillions ofyen

LIABILITIES and EQUITY
Liabilities
Current liabilities
Trade and other payables

14,17911,004Loans payable
Income tax payable

22,515
3,012

23,043
1,070

Other financial liabilities
Provision

506
1,484

895
782

Other current liabilities

3,400

2,234

Total current liabilities
Non-current liabilities

45,09939,031Loans payable
Deferred tax liabilities

18,6001,440

19,032
1,438

Net defined benefit liability
Other financial liabilities

153
1,754

155
1,242

Total non-current liabilities

21,94921,869Total liabilities
Equity67,04960,901

Capital stock
Capital surplus

7,790
10,381

7,790
10,422

Treasury stock
Retained earnings(386)
50,282(387)
51,375

Other components of equity(3,632)(4,083)

Total equity attributable to owners of parent

64,435

65,118

Total equity

64,435

65,118131,484

126,019

Total liabilities and equity−

5 −(2) Condensed Consolidated Statements of Income for the three months ended June 30, 2018

Revenue
Cost of sales

The three months
ended June 30, 2017

The three months
ended June 30, 2018

Millions of yen

Millions of yen

32,476(25,324)

31,914(24,832)

Gross profit

7,151

7,081

Selling, general and administrative expenses
Other operating income(3,684)40(3,546)104

Other operating expenses

(15)

(97)

Operating income

3,491

3,542

Finance income
Finance cost

36
(125)

9
(205)

Profit before tax

3,402

3,345

Income tax expenses(1,020)(972)

Profit

2,381

2,373

Owners of parent
Non-controlling interests

2,343
38

2,373
−

Profit

2,381

2,373

71.89

59.93

71.89

59.76

Profit attributable to:Earnings per share
Basic earnings per share (Yen)
Diluted earnings per share (Yen)−6 −(3) Condensed Consolidated Statements of Comprehensive Income for the three months ended
June 30, 2018

Profit

The three months
ended June 30, 2017

The three months
ended June 30, 2018

Millions of yen

Millions of yen

2,381

2,373

Other comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans

10

(3)

(31)

21

Total items that will not be reclassified to profit or loss

(20)

18

(934)

(470)

Items that will be reclassified to profit or loss
Cash flow hedges
Translation adjustments of foreign operations

183

26

Total items that will be reclassified to profit or loss

(750)

(443)

Other comprehensive income, net of tax
Comprehensive income

(771)

(424)

1,610

1,948

1,569
40

1,948
−

1,610

1,948

Comprehensive income attributable to:
Owners of parent
Non-controlling interests
Comprehensive income−

7 −(4) Condensed Consolidated Statements of Changes in Equity(Millions of yen)
Equity attributable to owners of parent

Capitalstock

Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at June 30, 2017

CapitalsurplusTreasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

4,480
−

6,126
−

(5,371)−42,783
2,343(3,618)
−

(104)
−

−

−

−

−

183

(934)

−

−

−

2,343

183

(934)

−
−

−
−

(0)
−

−
(977)

−
−

−
−

−

−

−

(31)

−

−

−

10

−

−

−

−

−

10

(0)

(1,009)

−

−

4,480

6,136

(5,371)

44,117(3,435)(1,039)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at June 30, 2017

Total

Total

Noncontrollinginterests

Total equity

7
−

−
−

(3,716)−44,303
2,343

524
38

44,827
2,381

8

(31)

(774)

(774)

2

(771)

8

(31)

(774)

1,569

40

1,610

−
−

−
−

−
−

(0)
(977)

−
−

(0)
(977)

−

31

31

−

−

−

−

−

−

10

−

10

−

31

31

(968)

−

(968)

15

−

(4,459)44,904565

45,469−8 −(Millions of yen)
Equity attributable to owners of parent

Capitalstock

Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at June 30, 2018

CapitalsurplusTreasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

7,790
−

10,381−(386)−

50,282
2,373(3,624)
−

(34)
−

−

−

−

−

26

(470)

−

−

−

2,373

26

(470)

−
−

−
−

(0)
−

−
(1,306)

−
−

−
−

−

−

−

26

−

−

−

41

−

−

−

−

−

41

(0)

(1,280)

−

−

7,790

10,422(387)

51,375(3,597)(505)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at June 30, 2018

Total

Total

Total equity

27
−

−
−

(3,632)−64,4352,373

64,435
2,373

(3)

21

(424)

(424)

(424)

(3)

21

(424)

1,948

1,948

−
−

−
−

−
−

(0)
(1,306)(0)(1,306)

(4)

(21)

(26)

−

−

−

−

−

41

41

(4)

(21)

(26)

(1,265)(1,265)19−(4,083)

65,11865,118−9 −(5) Condensed Consolidated Statements of Cash FlowsThe threemonths ended
June 30,
2017

The threemonths ended
June 30,
2018

Millions of yen

Millions of yen

Net cash provided by (used in) operating activities
Profit before tax
Depreciation and amortization

3,402
583
−

Impairment loss
Finance income and finance cost

3,345
580

119

14
169

Decrease (increase) in inventories
Decrease (increase) in trade and other receivables

(198)
1,307

1,385
180

Increase (decrease) in trade and other payables
Other, net

(682)
607

(3,338)473

Subtotal

5,139

2,810

Interest and dividends income received
Interest expenses paid

4
(137)

9
(193)

(1,919)20(4,073)50

3,106(1,396)(1,283)
98

(719)
163

Purchase of intangible assets
Proceeds from sales and redemption of investments

(62)
−

(19)
12

Other, net

18

(11)

Net cash provided by (used in) investing activities(1,229)(575)

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable

(400)

405

Repayment of long-term loans payable
Purchase of treasury stock

(125)
(0)

(135)
(0)

Cash dividends paid
Other, net

(972)
(1)

(1,294)(19)(1,499)(1,043)

Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

55

106

Net increase (decrease) in cash and cash equivalents

432(2,909)Cash and cash equivalents at beginning of period

10,79824,140Cash and cash equivalents at end of period

11,23021,230−10 −(6) Notes on Assumptions for Going Concern
Not applicable(7) Notes on Condensed Consolidated Financial Statements
1. Reporting entity
Asahi Holdings, Inc. (hereinafter the “Company”) is a company located in Japan. The Company’s condensed
consolidated financial statements for the three months ended June 30, 2018 comprise the financial statementsof the Company as well as its subsidiaries (hereinafter the “Group”).
For the main activities of the Group, please refer to Note 5. “Segment information.”

2. Basis of preparation(1) Statement of compliance with IFRSThe condensed consolidated financial statements of the Group have been prepared based on IAS 34“Interim Financial Reporting.”
Having met the requirements for a Specified Company under the Designated International AccountingStandards, as prescribed in Article 1-2 of the Ordinance on the Terminology, Forms, and Preparation
Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance No. 64 of 2007), theGroup adopts the provisions of Article 93 of the aforementioned rules.
(2) Basis of measurement
The condensed consolidated financial statements of the Group have been prepared based on costs ofacquisition, except for the specified financial instruments that have been measured at fair value.
(3) Functional currency and presentation currency
The condensed consolidated financial statements of the Group are presented in Japanese yen, which isthe functional currency of the Company, and figures less than one million yen are rounded down to thenearest million yen.

3. Changes in accounting policies
The significant accounting policies adopted for the condensed consolidated financial statements are thesame as those for the consolidated financial statements for the fiscal year ended March 31, 2018, with the
exception of the items described below.
The income tax for the three months ended June 30, 2018 was calculated based on the estimated averageannual effective tax rate.
(Adoption of IFRS 15 “Revenue from Contracts with Customers”)
The Group has adopted IFRS 15 “Revenue from Contracts with Customers”(published in May 2014) and“Clarifications to IFRS 15” (published in April 2016)(hereinafter, collectively referred to as ”IFRS 15”) fromthe first quarter ended June30, 2018. When applying IFRS 15, as a transition measure the Group applies thisstandard retrospectively with the cumulative effects of initially applying this standard recognized at the dateof initial application.
In accordance with IFRS 15, except for interests and dividend income stipulated by IFRS 9 “ Financial
instruments”, revenue is recognizes based on the following five-step model.
Step 1: Identify the contract with a customer
Step 2: Identify the performance obligations in the contract
Step 3: Determine the transaction price
Step 4: Allocate the transaction price to the performance obligations in the contract
Step 5: Recognize revenue when the entity satisfies a performance obligation
Our group is engaged in the sales of precious metals, massage chairs, electrolytic hydrogen water generator,
hearing aids, heating equipment and other items. Regarding these products, revenue is recognized when the
goods are transferred to the customer, a point at which the customer has control of the goods and performanceobligation is deemed to have been satisfied. As for revenue pertaining to intermediate treatment or otherprocessing of industrial wastes, revenue is recognized when the treatment of the said industrial waste iscompleted, a point at which the customer has control and performance obligation is deemed to have been−

11 −

satisfied.
Regarding revenues pertaining to the design, construction and other works on fire-fighting, air conditioning
and sanitary equipment, revenue is recognized in accordance with the progress of performance obligation.
Progress is measured according to input method based on the costs incurred and other means.
Also, revenue is measured at a value derived by deducting discounts, rebates, returns, etc. from theconsideration undertaken in the contract with the customer.
The application of IFRS 15 does not have a significant impact on the performance or financial conditions ofour group.

4. Significant accounting estimates and associated judgments
In preparing condensed consolidated financial statements, the management is required to make judgment,
estimates and assumptions that affect the adoption of accounting policies and the amounts of assets, liabilities,
revenues and expenses. Actual results may differ from such estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. The effect of a change inaccounting estimates is recognized as the accounting period in which such change occurs as well as theaccounting periods to be affected in the future.
The estimates and judgments made by the management that may have material impacts on the figures in
the condensed consolidated financial statements are the same as those for the consolidated financial
statements for the fiscal year ended March 31, 2018.

−

12 −

5. Segment information(1) Overview of reporting segments
The Group’s reporting segments are those Group constituent units for which separate financial
information is obtainable, and which the Board of Directors subjects to regular examination in order todecide the allocation of management resources and evaluate business results.
As a pure holding company, the Company is in charge of overall strategic function for the Group, whereas
operating companies of the Group engage in the precious and rare metals recycling business and therefining and processing business, industrial waste management and other environmental preservation
business, and life & health business including manufacturing and selling of health equipment.
Therefore, the Group is composed of product and service segments based on business sectors. The threereporting segments are the precious metal business, the environmental preservation business, and the life
& health business. Meanwhile, these reporting segments are not be aggregated.
The precious metals business engages mainly in recycling and selling of precious and rare metals suchas gold, silver, palladium, and platinum, as well as refining and processing of precious metals such as goldand silver. The main work of environmental preservation business is the collection, transport andintermediate processing of industrial waste. In the life & health business, the main work is the manufactureand sales of massagers, hearing aids, and other health equipment, the manufacture and sales of electricheaters, the design and installation of radiant heating and air conditioning systems, and the design andinstallation of disaster prevention equipment.
(2) Segment revenue and performance
Accounting policies of the reporting segments are the same as those of the Group stated in “Note 3.
Changes in accounting policies.”
Revenue and other performance of each reportable segment of the Group are as follows.
For the three months ended June 30, 2017 (from April 1, 2017 to June 30, 2017)(Millions of yen)
Reporting segment
Precious metals
business

Revenue
External revenue

Environmental
preservation
business

Life & healthbusiness

Total

Adjustment

Consolidated

21,884
−

3,955

6,636
−

32,476

−

23

23

(23)

32,476−

Total

21,884

3,979

6,636

32,499(23)

32,476

Operating income by businesssegment

2,912

764

394

4,071

(580)

3,491

Intersegment revenue

Finance income

36

Finance costs(125)

Profit before tax

3,402(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

−

13 −

For the three months ended June 30, 2018 (from April 1, 2018 to June 30, 2018)(Millions of yen)
Reporting segment
Precious metals
business

Environmental
preservation
business

Life & healthbusiness

22,936
−

4,039
17

4,938
0

31,91417

22,936

4,057

4,938

3,483

679

121

Total

Adjustment

Consolidated−(17)

31,914−31,932(17)

31,914

4,283

(741)

3,542

Revenue
External revenue
Intersegment revenue
Total
Operating income by businesssegment
Finance income
Finance costs

9
(205)

Profit before tax

3,345(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

6. Subsequent events
Not applicable−

14 −