Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2018
(Based on Japanese GAAP)
October 25, 2018
Company name:
HAMAKYOREX CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

9037
President

URL

http://www.hamakyorex.co.jp
Hidenori Osuka

Inquiries:
Executive officer
Scheduled date to file Quarterly Securities Report:

Rikiya Yamada
November 9, 2018

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

December 1, 2018
Yes

Holding of quarterly financial results meeting:

NoTEL

053-444-0054(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2018 (from April 1, 2018 to September 30, 2018)(1) Consolidated operating results (cumulative)
Net sales
Six months ended September 30, 2018
Six months ended September 30, 2017

Millions of yen
53,66250,218Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
6.9
4,506
9.8
4,725
8.1
2,834
12.4
1.9
4,106
6.8
4,372
8.5
2,521
7.7

Earnings per share

Diluted earnings per shareYen
149.16
132.69Six months ended September 30, 2018
Six months ended September 30, 2017

Yen––(2) Consolidated financial position
Total assets
As of September 30, 2018
As of March 31, 2018

Net assetsMillions of yen
114,207
112,520

Equity ratio

Millions of yen
61,48358,641

%
47.4
45.9

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
22.50
30.00

Yen–

Yen
22.50

Yen
45.00

–

30.00

60.00

Year ending March 31, 2019 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2019 (from April 1, 2018 to March 31, 2019)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
108,000
4.4
9,600
6.3
10,000
5.1
6,000
7.6
315.701

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2018(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2018

19,012,000 shares As of March 31, 2018

19,012,000 shares

Number of treasury shares at the end of the periodAs of September 30, 2018

6,657 shares As of March 31, 2018

6,514 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2018

19,005,384 shares Six months ended September 30, 20172

19,005,581 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2018

As of September 30, 2018

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

9,530
14,362

11,613
14,249

1693

14117

Other
Allowance for doubtful accounts

1,029
(44)

1,332
(43)

Total current assets

24,98827,284

Buildings and structures, netLand

29,82940,53028,99040,514

Other, net

10,433

10,662

Total property, plant and equipment

80,79380,167

2,150

2,241

Merchandise
Supplies

Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

4,587

4,514

Total non-current assets

87,531

86,923

112,520

114,207

Notes and accounts payable - trade
Short-term loans payable

6,777
17,294

6,709
17,978

Income taxes payable
Provision for bonuses

1,922
880

1,743
962

34
2

172

Other

7,290

7,232

Total current liabilities

34,201

34,646Long-term loans payable
Net defined benefit liability

6,792
5,815

4,980
5,877

Reserve for loss on dissolution of employee's pension fund
Other

39
7,029

38
7,180

Total non-current liabilities

19,676

18,07753,87852,723

Capital stock
Capital surplus

6,547
6,466

6,547
6,466

Retained earnings
Treasury shares

38,562(9)40,969(10)

Total shareholders' equity

51,56653,972

Total assets
Liabilities
Current liabilities

Provision for directors' bonuses
Reserve for loss on dissolution of employee's pension fundNon-current liabilities

Total liabilities
Net assets
Shareholders' equity

3

(Millions of yen)
As of March 31, 2018

As of September 30, 2018

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans

325(250)

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

4384(223)

75160

6,999

7,350

58,641

61,483

112,520

114,207

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)(Millions of yen)Six months ended
September 30, 2017

Six months ended
September 30, 2018

Operating revenue

50,21853,662

Operating cost

44,837

47,828Operating gross profit

5,380

5,834

Provision of allowance for doubtful accounts
Directors' compensations

36294

(0)
319

Salaries and allowances
Provision for bonuses

244
40

277
54

Provision for directors' bonuses
Retirement benefit expenses

211113
12

Other625

650

1,274

1,327

4,106

4,506

00

Dividend income
Gain on sales of non-current assets

23723248

Subsidy income
Electrical Sales Income

47244

5243

Miscellaneous income

149

145

Total non-operating income

537

475

101
127

84
122

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income

Non-operating expenses
Interest expenses
Cost of electricity sales
Miscellaneous loss

4249

Total non-operating expenses

271

256

4,372

4,725

Gain on sales of investment securities–

83

Total extraordinary income–83

Loss on retirement of non-current assetsLoss on transfer and closing of logistics center

1095–
–

Total extraordinary losses

106–

Profit before income taxes

4,265

4,808

Income taxes - current

1,438

1,599

Ordinary profit
Extraordinary income

Extraordinary losses

Income taxes - deferred

(61)

(67)

Total income taxes

1,376

1,532

Profit

2,888

3,276

2,521
367

2,834
441

Profit attributable toProfit attributable to owners of parent
Profit attributable to non-controlling interests

5(Millions of yen)Six months ended

Six months ended

September 30, 2017

September 30, 2018

Other comprehensive incomeValuation difference on available-for-sale securities

4559

Remeasurements of defined benefit plans, net of tax

3135

Total other comprehensive income

7794

Comprehensive income

2,965

3,371

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,586

2,919

379

451

Comprehensive income attributable to non-controlling interests6