Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Second Quarter of Fiscal 2015 ended March 31, 2015
November 11, 2014
Company:
Stock code:
URL:

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

Fiscal 2014 2Q:
Fiscal 2014:
Fiscal 2015 2Q:
Fiscal 2015:

April 1, 2013- September 30,2013
April 1, 2013- March 31, 2014
April 1, 2014- September 30, 2014
April 1, 2014- March 31, 2015

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 Second Quarter of Fiscal 2015(April 1, 2014 through September 30, 2014)(1) Operating Results
2Q FY3/15
2Q FY3/14

Net Sales
Millions of Yen
404,297
398,411%1.512.7

Operating income
Millions of Yen%
27,7701.227,438 158.2*comprehensive income : Fiscal 2015 2Q 21,956

EPS

Fiscal 2014 2Q 27,255

Diluted EPSYenYen
14.78
8.29

2Q FY3/15
2Q FY3/14

Ordinary incomeNet income
Millions of Yen% Millions of Yen%
28,44011.0
18,155
78.4
25,631 461.2
10,176–––(2) Financial Position
Total assets
Millions of Yen
1,018,616
1,015,564

2Q FY3/15
FY3/14*Equity : Fiscal 2015 2Q 253,977

Total net assets
Millions of Yen
292,865
273,312Equity ratio
%
24.9
23.7

Fiscal 2014 240,256

2. Dividends
1Q
FY3/14
FY3/15
FY3/15(forecast)

Dividend per share
3Q
4Q

2Q

TotalYen

Yen

Yen

Yen

Yen

——

2.00
2.00

—

3.00

5.00

—

3.00

5.00

3. Consolidated Results Forecast for the Fiscal 2015(April 1, 2014 through March 31, 2015)
Net sales

FY3/15

Operating income

Millions of Yen%

Millions of Yen

848,000

0.9

70,000Ordinary income%

Millions ofYen-0.6

67,000Net income

EPS%

Millions of Yen%

Yen

-3.7

35,000

-0.6

28.49

This 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 7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
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
OtherAllowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

FY3/14(As of 3/31/14)

2Q FY3/15(As of 9/30/14)

59,369176,245
26,113
4,120
39,32334,700(1,568)338,304

57,427
173,861
28,175
3,929
41,41832,794(1,857)335,748

142,417112,379
155,301
60,217
470,316

138,592
110,059
160,600
62,285471,537

10,89031,33842,228

9,177
30,24939,42698,89012,13459,991(6,302)
164,714677,259
1,015,564

105,650
13,34359,466(6,555)
171,904
682,868
1,018,616

Page 2 of 7

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

(Millions of Yen)
Item
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
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 benefits
Provision for loss on business of subsidiaries
and affiliates
Provision for special repairs
Provision for asset removal
Asset retirement obligations
Other
Total 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
incomeMinority interests in consolidated subsidiaries
Total net assets
Total liabilities and net assets

FY3/14(As of 3/31/14)

2Q FY3/15(As of 9/30/14)

83,691
228,127610
18,0405,538
2,683
70,156
408,848

78,701
213,067
20,440
8,572
5,747
1,436
74,627
402,593

47,090159,291
25,359509

46,870149,215
24,602
483

138

138

357
574
7,230
92,853
333,404
742,252

314
572
7,212
93,746323,157
725,751

86,17450,690121,212(936)
257,141

86,17450,769135,404(903)271,444

5,084

6,896

50
4,252(16,799)(9,472)

8
4,062(19,693)(8,742)(16,884)(17,467)

33,05538,888273,312292,865

1,015,564

1,018,616

Page 3 of 7

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

(Millions of Yen)

Net sales

398,4112Q FY3/15(4/1/149/30/14)
404,297

Cost of sales

308,645

310,863

Gross profit

89,76693,433

Selling, general and administrative expenses

62,32765,662

Operating income

27,43827,770Interest income

211

245

Dividends income

344

396

231

3,933

3,527

1,991

4,3156,567

Interest expenses

4,303

3,533

Other

1,819

2,363

6,122

5,897

25,631

28,4401,253

720

Gain on step acquisitions-916

Gain on forgiveness of debts

-

4,425

Other
Total extraordinary income

89578

1,343

6,641

1,036
-

1,199

583

456

1,619

3,015

Income before income taxes and minority interests

25,35532,066

Income taxes-current

14,537

8,972

Net Income before minority interests

10,81723,094640

4,938

10,17618,155Item

2Q FY3/14(4/1/139/30/13)

Non-operating income

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

Total non-operating expenses
Ordinary income
Extraordinary income
Gain on disposal of property, plant, and equipment

Extraordinary loss
Loss on disposal of property, plant, and equipment
Business structure reform expenses
Other
Total extraordinary losses

Minority interests in income
Net income

1,360

Page 4 of 7

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

Net income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Adjustments for employee retirement benefit of overseas
subsidiary
Retirement benefits liability adjustments
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to :Shareholders of Taiheiyo Cement Corporation
Minority interests(Millions of Yen)
2Q FY3/14
2Q FY3/15(4/1/13(4/1/149/30/13)
9/30/14)
10,81723,0942,156(48)12,154

1,742(18)(3,635)

(336)

--

731

2,511

41

16,43727,255(1,138)21,95624,4942,760

17,762
4,193

Page 5 of 7

Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

2Q FY3/14(4/1-139/30/13)
Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Amortization of goodwill
Equity in (earnings)losses of unconsolidated
subsidiaries and affiliates
Loss(gain) on valuation of investment securities
Increase(decrease) in provision for retirement benefitsChanges in asset and liability for retirement benefitsIncrease(decrease) in provision for directors' retirement
benefits
Increase(decrease) in provision for bonuses
Increase(decrease) in allowance for doubtful accounts
Increase(decrease) in provision for removal of assets
Increase(decrease) in other provisionInterest and dividends income
Interest expenses
Loss(gain)on sales of investment securities
Loss(gain)on disposal of property, plant, and equipment
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Business structure reform expenses
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Cash flows from operating activities
Cash flows from investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Purchases of investments in subsidiaries resulting inchange in scope of consolidation
Payments of loans receivableCollections of loans receivable
Other, netCash flows from investing activities(Millions of Yen)
2Q FY3/15(4/1/149/30/14)

25,355
19,6491,082

32,066
19,986
1,186(231)(3,933)34(2,546)-

5(682)

(31)

(37)

203
12(2)
(891)
(556)
4,303
(26)
(216)
10,824(3,291)(5,008)

196
532
(2)
(1,208)
(642)
3,533
(65)
478
2,299
(4,522)(5,208)

-

1,360

3,454
52,116908(4,462)(10,751)
37,811(1,055)44,215969(3,726)(18,037)
23,421

818(17,599)
1,750
(148)
323

528
(21,230)
2,100
(765)
119-(516)(1,167)2,500
152(13,371)

(938)
2,153
320
(18,230)

Page 6 of 7

Cash flows from financing activities
Increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividend paid

Cash dividends paid to minority shareholders
Other, net
Cash flows from financing activities
Effect of exchange rate changes 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 due to changes
in scope of consolidation
Increase in cash and cash equivalents resulting from merger ofsubsidiaries
Cash and cash equivalents at end of the period(9,216)

1,460

32,532(50,233)(238)
15,350(25)54(2,457)(415)(2,493)(17,369)
1,925
8,995
54,40824,084(45,204)(390)
20,000(29)
0(3,685)(222)(2,428)(6,414)(866)(2,089)55,604

(263)

354

-

73

63,14053,942

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(loss)

Inter-segment
sales
Total
Segment
income(loss)

Total

Adjustment Consolidated
Total

251,945

36,00446,49837,280371,728

21,192

398,411－

398,411

5,629

9,544

2,372

2,061

19,607

11,32230,895(30,895)－

257,574

45,54848,871

39,342

391,336

32,514429,307(30,895)

398,41118,516

3,445

3,862

611

26,435

1,353

27,669(231)

27,438

CementBusiness
Net sales
Sales to outside
customers

2Q FY3/14 (4/1/13 – 9/30/13)
Reportable Segments
Construction
MineralEnvironmental
Other
Materials
Total
Resources
Business
Business
Business

2Q FY3/15 (4/1/14 – 9/30/14)
Reportable Segments
MineralConstruction
Environmental
OtherResources
Materials
Business
Total
Business
Business

Total

Adjustment Consolidated
Total

267,675

36,002

34,56038,230376,468

27,828404,297－404,2975,214

11,389

2,535

1,998

21,138

12,23933,377(33,377)－

272,889

47,39137,09540,229

397,607

40,067437,674(33,377)404,297

17,709

2,612

3,500

1,205

25,0282,757

27,786(15)

27,770Page 7 of 7