Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Third Quarter of Fiscal 2019 ended March 31, 2019
February 12, 2019
Company:
Stock code:
URL:

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

Fiscal 2018 3Q:
Fiscal 2018:
Fiscal 2019 3Q:
Fiscal 2019:

April 1, 2017- December 31, 2017
April 1, 2017- March 31, 2018
April 1, 2018- December 31, 2018
April 1, 2018- March 31, 2019

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 Third Quarter of Fiscal 2019(April 1, 2018 through December 31, 2018)(1) Operating Results(% of change from previous third quarter)
Net Sales

Millions of Yen
692,554653,058

3Q FY3/19
3Q FY3/18

Operating income%
6.0
10.3

Millions of Yen
49,724
48,683

Profit attributable toowners of parent% Millions of Yen%
(1.1)
4.8
34,07712.7(43.0)
32,531

Ordinary income%
2.1
10.1

Millions of Yen
49,111
49,635*Comprehensive income : Fiscal 2019 3Q 31,505 (-6.0%) Fiscal 2018 3Q 33,498(-4.2%)
EPS

Diluted EPS
YenYen3Q FY3/19275.39–
3Q FY3/18
262.97–*The Company has implemented the share consolidation of common stocks in a rate of one share for every ten shareseffective on October 1, 2017. Accordingly, EPS is calculated on the assumption that the share consolidation wasimplemented at the beginning of the previous fiscal year.

(2) Financial Position
Total assets
Millions of Yen
1,054,890
1,020,111

3Q FY3/19
FY3/18*Equity : Fiscal 2019 3Q: 415,646

Total net assets
Millions of Yen
451,935
432,326

Equity ratio%
39.4
38.8

Fiscal 2018: 395,268

2. Dividends
1Q
FY3/18
FY3/19FY3/19(forecast)

Dividend per share
3Q
4Q

2Q

Total

Yen

Yen

Yen

Yen

Yen

——

3.00
50.00

—
—

30.00

―30.0080.00*The Company has implemented the share consolidation of common stocks in a rate of one share for every ten shares effective on October 1, 2017.
The amount of dividend of the Second Quarter of Fiscal 2018 ended March 31, 2018 is presented as the amount of dividend prior to the share consolidation.
The annual dividend per share converted on the basis after the consolidation of shares would be 60.00 yen for the Fiscal Year ended March 31, 2018.
The dividend per share of the Second Quarter of Fiscal 2019 ended March 31, 2019 includes an ordinary dividend of 30.00 Yen and commemorative
dividend of 20.00 Yen.

3. Consolidated Results Forecast for the Fiscal 2019(April 1, 2018 through March 31, 2019)(% of change from the corresponding period of previous year)Net sales
FY3/19Operating income

Ordinary income

Millions of Yen%

Millions of Yen%

Millions of Yen%

900,000

3.3

68,000

4.4

66,000

2.5

Profit attributable toowners of parent
Millions of Yen%
9.0
42,000EPS
Yen

339.35This 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 5Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.
(Millions of Yen)

ItemAssets
Current assets
Cash and deposits
Notes and accounts receivable-trade
Electronically recorded monetary claimsoperating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Asset for retirement benefits
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

FY3/18(As of 3/31/18)

3Q FY3/19(As of 12/31/18)

53,766
182,272

60,148
193,169

10,98914,852

29,193
2,383
41,761
14,024(1,116)333,275

30,242
3,086
44,25814,659(649)359,768

134,456
136,603
158,057
76,320505,438

134,533
132,974
158,634
93,803519,946

777
32,26133,038321
30,72631,04886,834
21,29848,767(8,539)148,360
686,836
1,020,111

83,411
21,36046,920(7,564)
144,128
695,122
1,054,890

Page 2 of 5

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

ItemLiabilities
Current liabilities
Notes and accounts payable-trade
Electronically recorded obligations-operating
Short-term loans payable
Commercial papers
Current portion of bonds
Income taxes payable
Provision for bonuses
Other provision
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Liability for retirement benefits
Provision for directors’ retirement benefitsProvision for special repairs
Other provision
Asset retirement obligations
OtherTotal 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
Retirement benefits liability adjustments
Total accumulated other comprehensive
incomeNon-controlling interests

FY3/18(As of 3/31/18)(Millions of Yen)
3Q FY3/19(As of 12/31/18)

91,113
4,670
153,181―
15,035
6,416
6,021
121
83,986
360,546

101,418
9,012
139,297
24,00010,000
7,831
3,230
160
81,391
376,342

20,000100,390
24,559
520
128
750
7,553
73,335
227,238
587,785

30,00092,42024,235
487
85
764
7,685
70,934
226,613602,955

86,17460,339260,016(10,947)
395,582

86,17460,408284,184(11,073)
419,693

10,941

8,336

1
5,057
(16,201)
(111)

(20)
5,033
(17,307)
(88)

(313)

(4,046)37,05836,288

Total net assets

432,326

451,935

Total liabilities and net assets

1,020,111

1,054,890

Page 3 of 5Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

Cost of sales(Millions of Yen)
3Q FY3/19(4/1/1812/31/18)
692,554653,058
537,810498,415Gross profit

154,642

154,743

Selling, general and administrative expenses

105,959

105,018

Operating income

48,68349,724

Interest income

406

407

Dividends income

813

988

3,096

2,503

2,191

2,234

6,508

6,132

Interest expenses

3,529

2,989Other

2,026

3,755

5,555

6,745

49,635

49,111Gain on disposal of non-current assets

1,176

510

Gain on sales of investment securities

92469

Other
Total extraordinary income

100

154

1,369

1,135

1,784
248

1,598

2,032

2,276

Income before income taxes and non-controlling interests

48,97247,969

Income taxes total

14,59812,307

Profit34,37335,662Item
Net sales

3Q FY3/18(4/1/1712/31/17

Non-operating income

Equity in earnings of unconsolidated subsidiaries
and affiliates
OtherTotal non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss
Loss on disposal of non-current assets
Other
Total extraordinary losses

678

Profit attributable to non-controlling interests

1,842

1,585

Profit attributable to owners of parent

32,531

34,077

Page 4 of 5

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

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to :Owners of parent
Non-controlling interests

3Q FY3/18(4/1/1712/31/17)
34,373(Millions of Yen)
3Q FY3/19(4/1/1812/31/18)
35,662

3,478
81(5,089)
607(2,420)(22)(1,574)16

46(155)(874)
33,498(4,157)31,50532,405
1,093

30,367
1,137

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

(Millions of Yen)

CementBusiness
Net sales
Sales to outside
customers
Inter-segment
sales
Total
Segment income

Inter-segment
sales
Total
Segment income

Total

Adjustment Consolidated
Total

454,226

43,93561,90854,059614,130

38,928653,058－

653,058

7,930

17,828

5,182

3,012

33,955

15,89849,853(49,853)－

462,157
31,24861,763
6,104

67,091
5,579

57,0723,469

648,085
46,401

54,827
2,199

702,91248,601(49,853)81

653,058
48,683

CementBusiness
Net sales
Sales to outside
customers

3Q FY3/18 (4/1/17 – 12/31/17)
Reportable Segments
MineralConstruction
Environmental
Other
Resources
Materials
Business
Total
Business
Business

3Q FY3/19 (4/1/18 – 12/31/18)
Reportable Segments
MineralConstruction
Environmental
Other
Resources
Materials
Business
Total
Business
Business

Total

Adjustment Consolidated
Total

484,140

44,85865,00756,962650,969

41,585692,554－

692,554

7,443

18,919

5,738

3,205

35,307

19,82655,134(55,134)－491,584
32,522

63,778
6,248

70,745
5,002

60,1683,047

686,276
46,81961,411
2,862

747,688
49,682(55,134)
42692,554
49,724

Page 5 of 5