Consolidated Financial Results for the Six Months Ended September 30, 2015
Mitsubishi Materials Corporation
Tokyo, Japan
November 10, 2015
Stock code:
Shares listed:
URL:
Representative:
For further information please contact:
Filing date of Quarterly Report:
Scheduled date of start of dividend payment:
Supplementary materials for the quarterly financial results:
Investor conference for the quarterly financial results:

5711
Tokyo Stock Exchange
http://www.mmc.co.jp/
Mr. Akira Takeuchi, President
Mr. Naoya Sasaki, Manager, Corporate Communications & IR Dept.
Tel: +81-3-5252-5206
November 11, 2015
December 4, 2015
Yes
Yes (For Corporate Investors)

1. Results of the six months ended September 30, 2015 (From April 1, 2015 to September 30, 2015)(1) Results of operations (cumulative):

Six Months ended Sept. 30, 2015

¥709,564-5.5(%)(Millions of yen)
(Percentage changes relative to previous corresponding period)
Net income
attributable to owners
Operating profit
Ordinary incomeof the parent¥36,195
6.3(%)¥38,976-2.7(%)¥45,76696.9(%)Six Months ended Sept. 30, 2014

¥751,194

6.8(%)¥34,034

Net sales(Note) Comprehensive income

Six Months ended Sept. 30, 2015
Six Months ended Sept. 30, 2014

Six Months ended Sept. 30, 2015:
Six Months ended Sept. 30, 2014:
Net income per share¥34.93¥17.732.1 (%)¥40,079

12.9(%)¥23,238-20.5(%)

36,407 million yen (19.0%)
30,604 million yen (-46.2%)(Yen)
Diluted net income per share-(2) Financial Position:

As of September 30, 2015
As of March 31, 2015
(Reference) Shareholders’ equity(Millions of yen)
Shareholders’ equity ratio
31.6 (%)
29.0 (%)

Total assets
Net assets¥1,832,213¥667,854¥1,898,157¥629,514
As of Sept. 30, 2015: 579,506 million yen
As of Mar. 31, 2015: 550,762 million yen

2. Dividend payments(Yen)
Dividends per Share
Second quarter
Third quarter
¥3.00
¥5.00

(Record date)
First quarter
Year ended March 31, 2015
Year ending March 31, 2016
Year ending March 31, 2016
(Forecast)(Note) Revisions to dividend forecast in the current period: None

Year-end¥5.00

Annual
¥8.00

¥5.00

¥10.00-3. Forecast (From April 1, 2015 to March 31, 2016)

Net sales

Operating profit

Year ending¥1,480,000 -2.5(%)¥83,000
March 31, 2016
(Note) Revisions to forecast in the current period: Yes

15.5(%)(Millions of yen)
(Percentage changes relative to previous corresponding period)
Net income
Net income per
Ordinary income
attributable toshareowners of the parent¥88,000

8.5(%)¥65,000

15.8(%)¥49.61 (yen)* Notes(1) Significant changes of subsidiaries during the period (including changes in scope of consolidation): None
(2) Application of specific accounting treatment: Yes(Note) For details, please see “(1) Application of Specific Accounting Treatment” under “2. Summary Information (Notes)” on page6.
(3) Changes in accounting policies; changes in accounting estimates; restatements(i) Changes in accounting policies due to amendment of accounting standards:
Yes(ii) Other changes in accounting policies:None(iii) Changes in accounting estimates:None(iv) Restatements: None
(Note) For details, please see “(2) Changes in Accounting Policies; Changes in Accounting Estimates; Restatements” under “2.
Summary Information (Notes)”on page 6.
(4) Number of issued shares (common stock)(i) Number of issued shares at end of year (including treasury shares)
Six months ended September 30, 2015:
1,314,895,351 sharesYear ended March 31, 2015:
1,314,895,351 shares(ii) Number of treasury stock at end of year
Six months ended September 30, 2015:
4,800,214 sharesYear ended March 31, 2015:
4,677,305 shares(iii) Average number of shares during the period (quarterly cumulative period)
Six months ended September 30, 2015:
1,310,153,573 shares
Six months ended September 30, 2014:
1,310,397,480 shares*Indication regarding the situation of quarterly review procedures
These financial results are not subject to the quarterly review procedures pursuant to the Financial Instruments and Exchange Act.
As of the disclosure of these financial results, the procedures for reviewing quarterly financial statements pursuant to the Financial
Instruments and Exchange Act are in progress.

* Appropriate use of business forecasts and other special items(Notes regarding descriptions of earnings forecasts and other forward-looking statements, etc.)
Earnings forecasts and other forward-looking statements in this document are based on information currently
available to the Company’s management and certain assumptions judged rational, and we do not promise that theforecasts in this report will be achieved. Accordingly, there might be cases in which actual results materially differ
from forecasts of this report. To use assumptions for forecasts, see (3) Explanation of Forecast and Other Future
Predictions under “1. Qualitative Information Regarding the Consolidated Performance” on page 5.
(Method of obtaining supplementary information to and contents of the first two quarters financial results briefing)
Mitsubishi Materials Corporation is scheduled to hold a first two quarters financial results briefing for institutional
investors on November 12, 2015 (Thursday). Supplementary information to the quarterly financial results to be usedin this briefing is being released on TDnet and the Company’s website with the announcement of the consolidated
financial results for the six months ended September 30, 2015.

Contents

1. Qualitative Information Regarding the Consolidated Performance ................................................................... P2(1) Explanation of Business Performance .....................................................................................................P2(2) Explanation of Financial Position .............................................................................................................P5(3) Explanation of Forecast and Other Future Predictions ..............................................................................P5
2. Summary Information (Notes) ........................................................................................................................... .P6(1) Application of Specific Accounting Treatment ........................................................................................P6(2) Changes in Accounting Policies; Changes in Accounting Estimates; Restatements ..................................P6(3) Additional Information .................................................................................................................................. P7(4) Contingent Liabilities ..................................................................................................................................... P7
3. Consolidated Financial Statements .................................................................................................................... P8(1) Consolidated Balance Sheets ......................................................................................................................... P8(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income .....................................................................................................P10
Consolidated Statements of Comprehensive Income ........................................................................... P11(3) Consolidated Statements of Cash Flows.....................................................................................................P12(4) Notes on Consolidated Financial Statement ................................................................................................P13
Notes on Assumptions for Going Concern.................................................................................................P13
Segment Information ....................................................................................................................................P13
Notes in Event of Significant Changes in Shareholders’ Equity ..............................................................P13

1

1. Qualitative Information Regarding the Consolidated Performance(1) Explanation of Business Performance1) Overview of period under review
During the consolidated cumulative second quarter under review, the overall global economy headed toward modest
recovery thanks to signs showing that the U.S. and some other economies continued to recover, while there was a
slowdown in the economies of China and other countries in Asia.
The Japanese economy also continued to improve gradually, thanks to increased corporate earnings andimproved employment and income conditions.
Regarding the operating environment for the Mitsubishi Materials Group, copper prices fell, but overall businessbenefited from exchange rates generally characterized by yen depreciation.
Under these circumstances, consolidated net sales for the period totaled ¥709,564 million, down 5.5% from theprevious corresponding period. Operating profit increased 6.3% to ¥36,195 million, while ordinary income
decreased 2.7%, to ¥38,976 million. Net income attributable to owners of the parent increased 96.9%, to ¥45,766
million.
2) Overview of Segment(Cement)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2¥90.6

Increase/decrease (%)

¥96.9

¥6.3

(7.0%)

Operating profit

6.4

9.4

2.9

(46.6%)

Ordinary income

¥6.0

¥8.9

¥2.8

(47.5%)In Japan, the Cement segment was affected by a decline in overall demand due to construction delays stemmingfrom labor shortages in the construction industry, bad weather and other factors. In addition, sales volumes decreased,
led by sales declines in the Kanto and other regions. Also, a fall in coal prices caused operating costs to decrease.
In the United States, with cement demand continuing on a recovery trend in Southern California, sales volumes
increased. In China, sales volumes decreased substantially due to falling demand for real estate investment inShandong. In the overall Cement business, cement production amounted to 5.7 million tons, down 0.2 million tons
year on year.
As a result, the entire Cement business posted year-on-year increases in net sales and operating profit. Ordinary
income rose from the previous corresponding period due to an increase in operating profit.

2

(Metals)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2

Increase/decrease (%)¥410.0¥345.3¥(64.7)(-15.8%)Operating profit

12.4

12.2

(0.2)

(-1.8%)

Ordinary income

¥16.8

¥14.1

¥(2.6)(-15.5%)In the copper business, net sales fell but operating profit rose. The business was affected by lower copper prices anda decrease in sales of purchased items, as well as a temporary suspension of operations at PT. Smelting in Indonesia
from mid-June to early September due to equipment trouble. However, operating costs fell and production in Japan
increased. In the entire Metals business, copper cathode production amounted to 235 thousand tons, down 60
thousand tons from the previous corresponding period.
In the gold and other valuable metals business, net sales increased but operating profit fell due to higher ore
grades, which led to increased production, but the business was affected by lower palladium prices and other factors.
In the copper and copper alloy products business, both net sales and operating profit decreased, because sales of
products for automobiles and others fell.
As a result, the entire Metals business posted year-on-year decreases in both net sales and operating profit.
Ordinary income for the overall segment was down year on year, due to lower dividend income and equity inearnings of affiliates.
(Advanced Materials & Tools)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2

Increase/decrease (%)

¥68.0

¥77.7

¥9.6

(14.2%)

Operating profit

8.3

9.0

0.6

(8.0%)

Ordinary income

¥8.1

¥8.7

¥0.5

(6.9%)In the cemented carbide products business, demand was robust in Japan and overseas, particularly in Europe andthe United States. Against this backdrop, we conducted proactive sales promotions. These factors, plus the additionof Mitsubishi Hitachi Tool Engineering, Ltd. (formerly Hitachi Tool Engineering, Ltd.) as a consolidated subsidiaryin April 2015, led to increases in net sales and operating profit.
In the high-performance alloy products business, although sales of products for the automobile sector hoveredat a steady level in North America, both net sales and operating profit decreased as sales volumes in Japan andSoutheast Asia declined. Among other factors, Hitachi Metals MMC Superalloy, Ltd. (formerly MMC Superalloy
Corporation) transitioned to an equity-method affiliate of the Group from a consolidated subsidiary in July 2014.
As a result, the overall Advanced Materials & Tools business recorded a year-on-year increase in both net sales
and operating profit. Ordinary income increased due to an increase in operating profit.

3

(Electronic Materials & Components)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2

Increase/decrease (%)

¥30.5

¥35.3

¥4.8

(15.9%)

Operating profit

2.0

1.5

(0.5)

(-24.8%)

Ordinary income

¥3.3

¥3.7

¥0.4

(12.4%)In the advanced materials and chemical products business, despite the steady progress in sales of semiconductor
manufacturing equipment-related products, sales of LSI products for smartphones and products for hybrid
automobiles decreased, causing both net sales and operating profit to fall.
In the electronic components business, sales of products for household appliances were solid, and sales of
products for telecommunications equipment expanded. However, costs rose due to investments in new products. As
a result, net sales were up but operating profit fell.
In the polycrystalline silicon business, operations were temporarily suspended at the Yokkaichi Plant from early
January to late-June of 2014. In the second quarter under review, however, the plant continued with normal
operations, leading to an increase in sales. As a result, both net sales and operating profit rose.
As a result, the entire Electronic Materials & Components business reported an increase in net sales, while
operating profit decreased. Ordinary income increased due to an increase in equity in earnings of affiliates.
(Aluminum)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2¥80.9

Increase/decrease (%)

¥82.5

¥1.6

(2.0%)

Operating profit

3.9

2.9

(1.0)

(-26.4%)

Ordinary income

¥3.6

¥2.6

¥(0.9)(-26.9%)In the aluminum cans business, demand for both regular cans and bottle cans increased. However, material costsrose.
In the rolled aluminum and processed aluminum products business, demand was down for products forautomobiles and products used in solar cells.
As a result, the entire Aluminum business posted a year-on-year increase in net sales but a decrease in operating
profit. Ordinary income decreased due to a decrease in operating profit.
(Others)(Billions of yen)
FY2015 Q1-Q2
Net sales

FY2016 Q1-Q2¥114.7¥115.4

Increase/decrease (%)¥0.7(0.6%)

Operating profit

3.0

3.3

0.2

(8.6%)

Ordinary income

¥4.9

¥3.9

¥(1.0)(-20.4%)In the energy-related business, both net sales and operating profit decreased as stagnant market conditions caused
coal sales to fall, and electric power sales volume declined as a result of ongoing construction projects to upgradehydroelectric power plants.
In the “E-waste” (used electronics and electrical products) recycling business, net sales and operating profit weredown, due to a reduction in the handling volume owing to the lack of impact from last-minute demand after theincrease in the consumption tax rate.
In total, both net sales and operating profit increased for businesses other than energy-related and E-waste
recycling.
Orders for nuclear energy and engineering services amounted to ¥29.4 billion, down ¥9.9 billion from theprevious corresponding period. The order backlog at the end of the period was ¥32.9 billion, down ¥7.1 billion froma year earlier.
4(2) Explanation of Financial Position
As of September 30, 2015, the Group’s consolidated total assets stood at ¥1,832.2 billion, down ¥65.9 billion fromMarch 31, 2015. This was mainly due to a decline in cash and deposits.
Total liabilities stood at ¥1,164.3 billion, down ¥10.4 billion from March 31, 2015. This was mainly due to adecrease in notes and accounts payable-trade.
For the consolidated six months ended September 30, 2015 (from April 1, 2015 to September 30, 2015), status
and variable factors of each cash flow are as follows:(Cash Flows from Operating Activities)
Net cash provided by operating activities totaled ¥25.2 billion (an increase of ¥12.7 billion from the same period ofprevious year), due mainly to the stable performance.
(Cash Flows from Investing Activities)
Net cash provided by investing activities totaled ¥21.5 billion (a decrease of ¥42.9 billion from the same period ofprevious year), due mainly to proceeds from sales of investment securities.
(Cash Flows from Financing Activities)
Net cash provided by both operating and investing activities totaled ¥46.7 billion, while net cash used in financing
activities was ¥70.5 billion (an increase of ¥74.0 billion from the same period of previous year), due mainly to theuse of funds provided by operating and investing activities to repay borrowings.
As a result of the above, cash and cash equivalents at September 30, 2015, stood at ¥68.9 billion, down ¥23.1
billion from March 31, 2015.
(3) Explanation of Forecast and Other Future Predictions
In our consolidated earnings forecast, we have revised the net sales, operating profit and ordinary income figures forthe full fiscal year ending March 31, 2016, from the forecast announced on August 6, 2015, due to such considerations
as the temporary suspension of operations at PT. Smelting in Indonesia, an expected decrease in sales volumes,
particularly cement, and an expected worsening of equity in earnings of affiliates. As tax expense is expected todecrease, net income attributable to owners of the parent has not been revised from the previously announced figure.
Revised Consolidated Earnings Forecast for the Full Fiscal Year Ending March 31, 2016
(April 1, 2015 to March 31, 2016)(Billions of yen)Previous forecast
Net sales

Current forecast

Increase/Decrease (%)

1,580.0

1,480.0-6.3%

Operating profit

85.0

83.0

-2.4%

Ordinary income

92.0

88.0

-4.3%

Net income attributable to owners of the parent

65.0

65.0

—

5

2. Summary Information (Notes)(1) Application of Specific Accounting Treatment
The Group rationally assumes an effective tax rate after applying tax-effect accounting to income before income
taxes for the consolidated fiscal year, including the period under review, and multiplies such effective tax rate byquarterly income before income taxes to arrive at the tax expense.

(2) Changes in Accounting Policies; Changes in Accounting Estimates; Restatements
Changes in Accounting Policies(Adoption of Accounting Standard for Business Combinations)
The Company has applied the “Accounting Standard for Business Combinations” (ASBJ Statement No. 21,
September 13, 2013), the “Accounting Standard for Consolidated Financial Statements” (ASBJ Statement No. 22,
September 13, 2013) and the “Accounting Standard for Business Divestures” (ASBJ Statement No. 7, September
13, 2013) from the first three months of the year ending March 31, 2016, causing differences resulting fromchanges in the Company’s ownership of subsidiaries of which ownership continues to be recorded in capitalsurplus and changing the method of recording acquisition-related expenses in the fiscal year in which such
expenses are incurred. Also, for corporate combinations occurring after the beginning of the first three months ofthe year ending March 31, 2016, the allocation of acquisition costs as determined after review of provisional
accounting treatment is reflected in the consolidated quarterly financial statements for the consolidated quarterly
financial period to which the business combination date belongs. Furthermore, the presentation of quarterly net
income has been changed, and the presentation of minority interests has been changed to non-controlling interests.
The consolidated quarterly financial statements for the first six months of the preceding fiscal year and theconsolidated financial statements for the previous fiscal year have been revised to reflect these changes inpresentation.
In the consolidated cash flow statements for the first six months of the fiscal year ending March 31, 2016,
cash flows related to the expenses for purchase of shares of subsidiaries that result in changes in the scope of
consolidation are stated in “net cash provided by (used in) operating activities.”
With regard to application of the Accounting Standard for Business Combinations, etc., as Clause 58-2 (4)of the Accounting Standard for Business Combinations, Clause 44-5 (4) of the Accounting Standard forConsolidated Financial Statements and Clause 57-4 (4) of the Accounting Standard for Business Divestures
stipulate transitional treatment, these standards will be applied going forward from the beginning of the first threemonths of the year ending March 31, 2016.
As a result, operating profit, ordinary income and income before income taxes each decreased ¥296 million
during the first six months of the year ending March 31, 2016. Also, the capital surplus decreased ¥6 million as of
September 30, 2015.

6

(3) Additional Information(Reserve for Environmental Measures)
The Company has recorded estimated amounts for losses related to waste processing and losses due to treatmentof contaminated soil in the Kazuno region of Akita Prefecture. In addition, with regard to abandoned mines
managed by the Company, the Company has recorded estimated expenses related to a specific countermeasure
work for preventing mining-induced pollution and expenses for the countermeasure work to stabilize a collection
site.
Construction expenses for these specific measures related to abandoned mines are for executing
countermeasures to stabilize a large-scale collection site as well as to avoid hazards at such sites accompanying
the revised technical guidelines of the Mining Safety Act. In response to recent changes in the natural environment,these also include drastic measures to control mine-induced pollution, mainly increasing water treatment capacity
to prevent runoff of untreated water. During the first three months of the year ending March 31, 2016, the content
of construction and estimates were determined. Accordingly, the Company recorded extraordinary losses of¥10,841 million as a provision for environmental measures.
This reserve is included within “other provision” under noncurrent liabilities.
(4) Contingent Liabilities
First six months of the fiscal year ending March 31, 2016 (As of September 30, 2015)
Our consolidated subsidiary, PT. Smelting in Indonesia (hereafter “the Consolidated Subsidiary”) received anotice of correction dated December 30, 2014, from the Indonesian taxation authorities concerning sales
transaction amounts, etc., of the Consolidated Subsidiary for the fiscal term ended December 31, 2009,assessing an additional US$47 million (¥5,742 million at the exchange rate as of September 30, 2015). On
January 28, 2015, the Consolidated Subsidiary made a provisional payment of US$14 million (¥1,679 million at
the same exchange rate) as part of the tax penalty.
However, the matter pointed out by the Indonesian taxation authorities, that the amount of reported sales
has been underestimated based on a comparison of profit margins with a company identified by the said
authorities, is deemed extremely irrational. As the subsequent order for a correction is considered totally
unacceptable, on March 25, 2015, the Company and its Consolidated Subsidiary submitted a written opposition
to the Indonesian taxation authorities.

73. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2015

As of September 30, 2015

ASSETS
Current Assets:
Cash and deposits
Notes and accounts receivable-trade
Available-for-sale securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total Current Assets

93,152230,874
85,100107,093
104,539249,772(2,129)868,403

55,162
230,590
15,00088,931
112,755
100,367
213,107(2,120)813,794

Noncurrent Assets:
Property, Plant and Equipment:
Machinery and equipment, net
Land, net
Other, net
Total Property, Plant and Equipment

185,119
273,589
196,326
655,034

185,018
271,677
202,759
659,455

41,249
11,68652,936

51,83218,002
69,835265,052
63,706(1,168)(5,807)321,783
1,029,753
1,898,157

229,181
67,214(1,168)(6,100)289,126
1,018,418
1,832,213

Intangible Assets:
Goodwill
Other
Total Intangible Assets
Investments and Other Assets:
Investment securities
Other
Allowance for investment loss
Allowance for doubtful accounts
Total Investments and Other Assets
Total Noncurrent Assets
Total Assets

8

(Millions of yen)
As of March 31, 2015

As of September 30, 2015

128,375
252,197
20,0405,000
9,545
13,206
227,505
121,946
777,817

99,973
244,406
15,14012,924
13,527221,371
100,754708,097

65,100288,534
7,763
39,662
89,764490,825
1,268,643

50,000260,895
17,87041,73685,758456,261
1,164,358

119,457
92,272
252,858(1,865)
462,723

119,457
92,265
293,980(1,920)503,783

42,717(1,025)33,856
15,746(3,256)88,03978,751
629,514
1,898,157

29,3481,235
33,16014,095(2,117)75,722
88,348667,854
1,832,213

LIABILITIESCurrent Liabilities:
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds payable
Commercial papers
Income taxes payable
Provision
Gold payable
Other
Total Current Liabilities
Noncurrent Liabilities:
Bonds payable
Long-term loans payable
Other provision
Net defined benefit liability
Other
Total Noncurrent Liabilities
Total Liabilities
NET ASSETS
Shareholder's Equity:
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total Shareholder's Equity
Accumulated Other Comprehensive Income:
Valuation difference on securities available for sale
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total Accumulated Other Comprehensive Income
Non-controlling interests
Total Net Assets
Total Liabilities and Net Assets

9(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income[For the Six Months Ended September 30, 2014 and 2015](Millions of yen)
Six Months Ended Sept. 30, 2014

Six Months Ended Sept. 30, 2015

(Apr. 1, 2014 - Sept. 30, 2014)(Apr. 1, 2015 - Sept. 30, 2015)

751,194
651,914
99,27965,24534,034

709,564
601,691
107,872
71,67736,195

283
7,631
4,893
2,455
1,027
16,291

273
5,791
3,477
2,533
2,885
14,961

4,334
5,912
10,24640,0793,575
8,604
12,17938,976

296
64
130
218
710

19,182
10,464
5,861
1,234
1,768
38,511

1,300
1,101
1,996
4,398
36,391
10,49725,893
2,654
23,238

10,841
2,587
2,271
15,70061,787
14,39847,3891,623
45,766

Net sales
Cost of sales
Gross Profit
Selling, General and Administrative Expenses
Operating Profit
Non-operating Profit:
Interest income
Dividends income
Equity in earnings of affiliates
Rent income on noncurrent assets
Other
Total Non-operating Profit
Non-operating Expenses:
Interest expenses
Other
Total Non-operating Expenses
Ordinary income
Extraordinary Income:Gain on sales of investment securities
Gain on change in equity
Gain on sales of noncurrent assets
Gain on redemption of investment securities
Other
Total Extraordinary Income
Extraordinary Losses:
Provision for environmental measures
Loss on suspension of operations
Other
Total Extraordinary Loss
Income before Income Taxes
Income taxes
Net Income
Net Income Attributable to Non-Controlling Interests
Net Income Attributable to Owners of the Parent

10

Consolidated Statements of Comprehensive Income[For the Six Months Ended September 30, 2014 and 2015](Millions of yen)
Six Months Ended Sept. 30, 2014

Six Months Ended Sept. 30, 2015

(Apr. 1, 2014 - Sept. 30, 2014)(Apr. 1, 2015 - Sept. 30, 2015)

25,89347,3894,230(3,039)4,117
883(1,481)
4,710
30,604(13,408)
2,595
59
(527)
1,007
(708)
(10,982)
36,40727,264

34,175

3,339

2,231

Net Income
Other comprehensive income
Valuation difference on securities available for sale
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Equity in earnings of affiliates
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of theparent company
Comprehensive income for attributable to noncontrolling interests11(3) Consolidated Statements of Cash Flows(Millions of yen)
Six Months Ended Sept. 30, 2014 Six Months Ended Sept. 30, 2015
(Apr. 1, 2014 - Sept. 30, 2014)(Apr. 1, 2015 - Sept. 30, 2015)

36,391
26,426(1,847)(580)(7,914)
4,334(4,893)
(102)
(296)
799
(64)
-

61,78728,007
9,876(677)(6,065)
3,575(3,477)(5,444)(19,182)2(10,464)(1,234)(27,305)

4,295(34,995)
27,609(897)
16,662
8,385(4,383)(8,114)
12,549534(31,133)
1,761
32,162
7,478(4,027)(10,346)
25,267(25,168)591(1,117)272-(29,526)
18,217(522)
32,84318,000(15,572)

Net Cash Provided by (Used in) Operating Activities:
Income before income taxes
Depreciation and amortization
Increase (decrease) in provision
Increase (decrease) in net defined benefit liability
Interest and dividends income
Interest expenses
Equity in (earnings) losses of affiliates
Loss (gain) on sales of property, plant and equipment
Loss (gain) on sales of investments securities
Loss (gain) on valuation of investment securities
Loss (gain) on change in equity
Loss (gain) on redemption of investment securities
Decrease (increase) in notes and accounts receivablestrade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes refund (paid)
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
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from redemption of investment securities
Purchase of shares of subsidiaries resulting in changes inthe scope of consolidation
Other, net
Net Cash Provided by (Used in) Investing Activities
Net Cash Provided by (Used in) Financing Activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Increase (decrease) in commercial papers
Purchase of treasury stock
Payment of cash dividends
Dividends paid to non-controlling interests
Other, net
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
Increase (Decrease) in Cash and Cash Equivalents
Resulting from Change of Scope of Consolidation
Cash and Cash Equivalents at End of Period

3,963(21,458)(1,910)21,52839,122
34,765(71,655)(30,000)
40,000(37)(5,241)(1,873)(1,581)
3,497(7,521)
13,166(40,868)(20,000)(5,000)(90)(6,551)(1,847)(1,793)(70,506)

1,797

(439)

(3,614)62,078(24,150)
92,079980

732¥59,196

12

68,910(4) Notes on Consolidated Financial Statements
Notes on Assumptions for Going Concern: N/A
Segment Information[Segment Information]
I. For the Six Months ended September 30, 2014 (From April 1, 2014 to September 30, 2014)
Sales and Income of Reporting Segments

Advanced Electronic
Materials & Materials & Aluminum
Tools
Components

CementMetals

88,913

405,578

56,394

26,480

1,693

4,459

11,701

Total

90,606410,038

Segment income

6,046

16,805(Millions of yen)Amountindicated in
Adjustment
theamountstatements
of income

OthersTotal

79,94593,881

751,194-

751,194

4,048

972

20,871

43,747(43,747)－

68,09530,52980,918

114,752

794,941(43,747)

751,194

8,150

3,330

3,613

4,942

42,888(2,809)40,079Net sales(1)Outside
Customers(2)Within
Consolidated
Group(Notes)1. “Others” includes nuclear energy-related services, environmental and recycling-related business, real estate business,and engineering-related services.
2. Included in the segment income adjustment (-¥2,809 million) are segment eliminations (¥152 million) and corporate
expenses (-¥2,962 million) that cannot be allocated to any specific segment. Corporate expenses consist mainly of
management-related costs, basic experimental research costs, and financial income/expenses.
3. Segment income has been adjusted together with ordinary income on the consolidated quarterly statements of income.
II. For the Six Months ended September 30, 2015 (From April 1, 2015 to September 30, 2015)
Sales and Income of Reporting Segments

Advanced Electronic
Materials & Materials & Aluminum
Tools
Components

CementMetals95,296

340,884

68,30728,549

1,653

4,437

9,456

Total

96,950345,322

Segment income

8,915

14,193(Millions of yen)Amountindicated in
Adjustment
theamountstatements
of income

OthersTotal

81,902

94,622

709,564-

709,564

6,833

647

20,87343,901(43,901)-

77,76335,38282,550115,495

753,465(43,901)

709,564

8,710

3,742

2,640

3,931

42,134(3,157)38,976

Net sales(1)Outside
Customers(2)Within
Consolidated
Group(Notes)1. “Others” includes nuclear energy-related services, environmental and recycling-related business, real estate business,and engineering-related services.
2. Included in the segment income adjustment (-¥3,157 million) are segment eliminations (¥-12 million) and corporate
expenses (-¥3,144 million) that cannot be allocated to any specific segment. Corporate expenses consist mainly of
management-related costs, basic experimental research costs, and financial income/expenses.
3. Segment income has been adjusted together with ordinary income on the consolidated quarterly statements of income.

Notes in Event of Significant Changes in Shareholders’ Equity: N/A.

13