Translation

January 30, 20155

Consolidated Finan
Financial
cial Results
for the First Nine Months of the Fiscal Year Ending March 31, 201
2015<under Japanese GAAP>
Company name:
Listing:
Stock code:
URL:
Representative:
Inquiries:

USHIO INC.
First Section of the Tokyo Stock Exchange6925
http://www.ushio.co.jp
Kenji Hamashima,Hamashima, President and Chief Executive Officer
Hideaki Takizawa,, General Manager, Accounting & Financ
Finance Department
TEL: +81-3-3242-1811+81
1811 (from overseas)

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:Preparation of supplementary material on earnings:
Holding of earnings performance review:

Feburary 9,, 2015
201–YesYes (for analysts)
nalysts)(Millions of yen with fractional amounts discarded, unless otherwise noted)

1.

Consolidated performance for the first nine months of the fiscal year ending March 31, 2015
(from April 1, 2014 to December 31,, 2014
2014)

(1)

Consolidated operating resu
results (cumulative)
Net sales(Percentages indicate year
year-on-year
year changes.)

Operating income

First nine months ended Millions of yen% Millions of yen

Ordinary income% Millions of yenNet income% Millions of yen%

December 31
31, 2014

114,803

0.8

6,382 (24.7)

9,188 (24.6)

8,156 (11.5)

December 31
31, 2013

113,893

7.7

8,479

12,1919,215
5 199.2(Note)

56.7

Comprehensive income
For the first nine months ended December 31
31, 2014: ¥27,413
27,413 million [7.17.1%]
For the first nine months ended December 31
31, 2013: ¥25,589
25,589 million [332332.0%]

Net income per share

Diluted net
income per shareFirst nine months endedYen

Yen

December 31
31, 2014

62.49–

December 31
31, 201370.28–(2)93.2

Consolidated financial position
Total assets

As ofNet assets

Equity ratio

Millions of yen

Millions of yen%

December 31
31, 2014

288,972

215,676

73.7

March 31, 2014

255,338

191,246

73.5(Reference) Equity
As of December 31,
31 2014
As of March 31, 2014

¥212,916 million¥187,785 million

2.

Cash dividends
Annual dividends
First quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

–––

26.00

26.00

––

24.00

24.00

Fiscal year ended
March 31, 2014
Fiscal year ending
March 31, 2015
Fiscal year ending
March 31, 2015
(Forecast)(Note)

3.

Fiscal year-end

Total–Revisions to the forecasts of cash dividends most recently announced: None

Consolidated earnings forecasts for the fiscal year ending March 31, 2015
(from April 1, 2014 to March 31, 2015)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2015

Millions ofyen%

160,000

1.4

Operating income

Ordinary income

Millions ofyen

Millions ofyen%

11,000 (9.2)

Net income pershare

Net income%Millions ofyen%

Yen

13,000 (18.3)

10,000(7.2)

76.68(Note) Revisions to the consolidated earnings forecasts most recently announced: No* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in the scope ofconsolidation): None
(2) Application of a specific accounting procedure for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatements
a. Changes in accounting policies due to revisions to accounting standards: Yes
b. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatements: None
(4) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2014
139,628,721 shares
As of March 31, 2014
139,628,721 sharesb. Number of shares of treasury shares at the end of the period
As of December 31, 2014
9,071,318 shares
As of March 31, 2014
9,307,753 sharesc. Average number of outstanding shares during the period
As of December 31, 2014
130,541,529 shares
As of December 31, 2013
131,125,260 shares* Indication regarding execution of the quarterly review proceduresThis quarterly earnings report is exempted from the quarterly review procedures in accordance with the Financial Instruments andExchange Act. At the time of disclosure of this quarterly earnings report, the quarterly review procedures for quarterly consolidated
financial statements in accordance with the Financial Instruments and Exchange Act are incomplete.
* Notes on the proper use of earnings forecasts and other special matters
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently
available to the Company and on certain assumptions deemed to be reasonable. Actual business and other results may differ
substantially due to various factors.

Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31,2014
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structuresAccumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets–1–

As of December 31, 2014

46,14639,853
12,72424,321
5,836
11,691
5,678
7,449
(697)
153,104

60,07940,542
11,57528,2208,487
14,032
5,676
8,251
(935)
175,930

39,362(21,265)
18,09723,318(19,527)
3,791
9,266
1,421
23,814(17,264)
6,549
39,126
4,159

40,554(22,240)
18,314
23,815(19,839)
3,975
9,661
1,175
26,310(19,673)
6,637
39,764
6,668

54,883
21－
1,177
3,080
(114)
59,048102,334
255,338

61,836
31
165
973
3,719
(119)
66,607113,041
288,972(Millions of yen)
As of March 31,2014
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Deferred tax liabilities
Provision for bonuses
Provision for product warranties
Provision for loss on order received
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities
Provision for directors' retirement benefits
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets–2–

As of December 31, 2014

16,757
1,669
3,255
3,381
83
2,641
1,695
0
10,472
39,957

17,899
4,286
1,336
1,560
65
1,316
1,816
10
15,667
43,958

3,334
2,347
538
10,687216
7,010
24,13464,091

7,556
5,575
605
8,596
205
6,797
29,33773,296

19,55628,371
134,798(13,244)
169,482

19,55628,301
140,761(12,848)
175,770

21,407

26,906(7)
1,590(4,687)18,302
3,461
191,246
255,338

0
14,528(4,289)37,146
2,759
215,676
288,972

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)（Millions of yen）
First nine months ended
December 31, 2013
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Realized and unrealized profit on trading securities,
net
Gain on sales of investment securities
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on bargain purchaseTotal extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on sales of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on liquidation of business
Loss on sales of shares of subsidiaries andassociates
Loss on step acquisitions
Loss on valuation of membership
Loss on sales of membership
Special extra retirement payments and related
expenses
Other
Total extraordinary losses
Income before income taxes and minority interests
Income taxes - current
Income taxes - deferred
Total income taxes
Income before minority interests
Minority interests in income (loss)
Net income–3–

First nine months ended
December 31, 2014

113,893
73,31240,58032,101
8,479

114,803
71,64643,15636,774
6,382

431
896
1,490

545
1,023
712

358

410

166
643
3,986

–
455
3,148

168

153

24

34

80
274
12,191

153
341
9,188

5
1,921
–
1,926

79
2,329
277
2,685

64
0
63
952
171

34
36
965
2
–

4

–

5
2
3

–
––

39

–

2
1,308
12,809
4,280
(678)
3,601
9,207
(7)
9,215

–
1,037
10,836
2,607
(114)
2,492
8,344
187
8,156

(Consolidated Statements of Comprehensive Income)（Millions of yen）
First nine months ended
December 31, 2013
Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to minorityinterests–4–

First nine months endedDecember 31, 2014

9,207

8,344

8,422
20
7,930
－

5,499
7
13,161398

8

2

16,381
25,58919,06927,41325,32927,000259

412

(3) Notes regarding the consolidated financial statements(Segment information)
I.

First nine months of the fiscal year ended March 31, 2014 (from April 1, 2013 to December 31, 2013)
Information concerning net sales and income/loss by reporting segment(Millions of yen)

Reporting Segment
Others(Note 1)

Total

Amount on
consolidated
Adjustment
financial(Note 2)statements(Note 3)

LightSources

Equipment

46,60365,390111,993

1,899

113,893-

113,893

Inter-segment sales or transfer
among segment

46935505

12517(517)-Total

47,07265,426112,498

1,911

114,410(517)

113,893

Segment profit

5,584

2,730

8,314

62

8,376

102

8,479

Total

Sales
Sales to outside customers(Notes) 1. The “Others” classification refers to business segments not included in reporting segments, such as machinery forindustrial uses and other businesses.
2. “Adjustment” refers to eliminations of inter-segment transactions.
3. Segment profit is adjusted with operating income in the quarterly consolidated statements of income.
II.

First nine months of the fiscal year ending March 31, 2015 (from April 1, 2014 to December 31, 2014)
Information concerning net sales and income/loss by reporting segment(Millions of yen)

Reporting Segment
Light
Sources

Equipment

Total

Others(Note 1)

Total

Amount on
consolidated
Adjustment
financial(Note 2)statements(Note 3)

Sales
Sales to outside customers

52,51659,957

112,474

2,328

114,803-

114,803

Inter-segment sales or transfer
among segment

70073773

19793

(793)

-Total

53,21660,030113,247

2,348

115,596(793)

114,803

6,628

(377)

6,250

74

6,325

56

6,382

Segment profit (loss)(Notes) 1. The “Others” classification refers to business segments not included in reporting segments, such as machinery forindustrial uses and other businesses.
2. “Adjustment” refers to eliminations of inter-segment transactions.
3. Segment profit (loss) is adjusted with operating income in the quarterly consolidated statements of income.

–5–